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- 🥜 A shocking Christmas Bitcoin price prediction
🥜 A shocking Christmas Bitcoin price prediction
PLUS: Bitcoin Pricing Models
Merry Christmas from the Crypto Nutshell Team! We hope your day is filled with joy.🎄🥜
Whilst Santa has been checking his list twice, we’ve been keeping track of all the latest crypto trends for you! 🎅 ❤️
What we’ve cooked up for you today…
👩⚖️ The SEC cracks down
🎄 A Christmas Bitcoin price prediction
🤓 Bitcoin’s key pricing models
💰 And more…
MARKET WATCH ⚖️
Prices as at 5:25am ET
Only the top 20 coins measured by market cap feature in this section
THE SEC CRACKS DOWN 👩⚖️
BREAKING: BarnBrdige DAO settles with SEC for $1.7 million, agrees to stop selling crypto bond product
A small DeFi protocol known as BarnBridge DAO is the latest victim of the SEC’s regulatory crack down.
BarnBridge and it’s founders will pay more than $1.7 million to settle the charges brought forward by the SEC.
As you’d expect, the SEC has accused BarnBridge DAO of failing to register the offer and sale of crypto securities. (where have we heard that before?)
“The use of blockchain technology for the unregistered offer and sale of structured finance products to retail investors runs afoul of the securities laws."
In a press release published on Friday, the SEC had this to say:
"This case serves as an important reminder that those laws apply to all who wish to access our capital markets, regardless of whether they are, or purport to be, incorporated, decentralized or autonomous.”
As we’ve seen in the past, Hester Peirce (SEC commissioner) once again disagrees with the commissions regulatory decisions:
This is another case of the SEC going after the “easy wins”.
They can bully these small DAO’s forcing them to shutdown operations as they can’t keep up with the legal fees.
Just one of the many ways that the SEC is disrupting innovation in the US.
spoiler alert: it won’t
TOGETHER WITH THE EDGE 🤖
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CHRISTMAS BITCOIN PRICE PREDICTION 🎄
Because it’s Christmas, let’s look at some possible Bitcoin price scenarios. 🎄
Willy Woo is the O.G on-chain Bitcoin analyst.
He’s been around since the beginning. He was the pioneer of many of the on-chain analytics we still use today.
Because of the accuracy of his calls, he’s amassed a following of over 1 million Bitcoin investors.
Yesterday, he was asked by a private banker for possible Bitcoin price scenarios.
Here’s what he came up with:
Bitcoin’s first step? Match the market cap of gold. 🏆
At this point, 1 Bitcoin = $710,000.
Bitcoin’s final step? Capture half of all wealth.
At this point, 1 Bitcoin = $11,500,000.
Willy added this:
“5% of all wealth being parked in Bitcoin is not that far away… BTC has 300m+ investors today, growing exponentially.”
Willy believes we are in the 9th iteration of growing Bitcoin’s user base by a factor of 10.
In our current cycle, we are going to go from 100 million users to 1 billion users.
All this to say: we’re still early. 🎅
Because it’s Christmas, we want to hear from the Crypto Nutshell readers.
In 12 months from now, Christmas Day 2024, will Bitcoin be over or under $125,000?
Price of Bitcoin on Christmas, 2024? |
Merry Christmas & we will share the results tomorrow! 🎁🎄
BITCOIN’S KEY PRICING MODELS 🤓
Yesterday we introduced Glassnode’s Recovering from a Bitcoin Bear chart.
Today we’ll be diving a little deeper into one of the 4 key areas this chart focuses on: Bitcoin’s key pricing models.
Here’s how to read the chart below:
🔵 200 Day Simple Moving Average (200D-SMA): Widely observed by market analysts, it tends to carry significant weight on investor psychology when it is broken convincingly.
🟠 Bitcoin’s Realized Price: When the spot price is above the realized price, it signals that the average investor is now holding an unrealized profit
🟩 This metric will flash green when Bitcoin’s spot price is greater than both the 200D-SMA and Realized Price
This chart is a neat little combination of both on-chain (realized price) and technical (200D-SMA) analysis.
The interesting thing is that Bitcoin’s spot price has been above both indicators for the majority of the year.
However there was a little bit of panic in the market between August and October, when Bitcoin dropped below the 200D-SMA. 😨
But, like we discussed yesterday, October was a major turning point. Bitcoin once again blasted through the 200D-SMA.
Here’s what the key values are today:
Realized Price: $21,735.49
200D-SMA: $31,268.74
Spot Price: $43,122.52
The spot price is currently WAY above both the realized price and 200D-SMA.
These conditions often coincide with healthy price movements… 😎
As we’ll continue to break down, essentially every on-chain Bitcoin indicator right now is overwhelmingly bullish. 🐂
Stay tuned for tomorrows newsletter, where we’ll be breaking down Bitcoins network activity.
CRACKING CRYPTO 🥜
WHAT WE’RE READING ✍️
Want to get even smarter? Check these out.
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CAN YOU CRACK THIS NUT? ✍️
Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)
When did infamous ponzi scheme "BitConnect" shut down? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: D) January 2018 🥳
On January 17, 2018, Bitconnect shut down, and BCC prices crashed by 92% immediately after.
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DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.
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