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- 🥜 All time highs in August
🥜 All time highs in August
PLUS: Where Bitcoin Will Top
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What we’ve cooked up for you today…
🔮 Bitcoin All Time High by August?
🎱 This is where Bitcoin tops
🇩🇪 Germany at it again
💰 And more…
MARKET WATCH ⚖️
Prices as at 7:15am ET
Only the top 20 coins measured by market cap feature in this section
BITCOIN ALL-TIME HIGH IN AUGUST? 🔮
BREAKING: Standard Chartered forecasts bitcoin could hit all-time high in August
Bitcoin’s price is set to hit a new all-time high by August, followed by an increase to $100,000 by the US presidential election.
That’s what multinational bank Standard Chartered is predicting:
"A fresh all-time for bitcoin in August is likely, then $100,000 by U.S. election day."
Standard Chartered’s head of forex and digital asset research Geoffrey Kendrick recently put out a report explaining this prediction.
And it’s an interesting one…
Kendrick’s prediction hinges on Joe Biden remaining in the presidential election race.
According to Kendrick, this scenario heavily favours a Donald Trump victory.
"The logic here is that both regulation and mining would be looked at more favourably under Trump."
Kendrick also explained that if Biden were to step out of the election race in late July, Bitcoin prices could dip to $50,000 - $55,000. (this is the least likely scenario according to Standard Chartered)
However, if Biden stays in the race, “Bitcoin is a fantastic buying opportunity”.
The key date for whether Biden stays in the election is August 4:
"This is the date at which Ohio law requires presidential candidates to be registered. So, if Biden is still the Democratic nominee on August 4 he will still be so in the first week of November."
Kendrick also reaffirmed his $150,000 price target for the end of 2024:
"Notably, a $150,000 price by end-2024 would see bitcoin join the $3 trillion club in terms of market cap.”
A new all-time high by August?
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THIS IS WHERE BITCOIN WILL TOP 🎱
$100,000 by the end of the year.
And a top of $200,000 - $300,000.
That’s what investing expert Larry Lepard is predicting.
For those of you who don’t know Larry, he’s:
Founder & Managing Partner of Equity Management Associates
Graduated from Harvard, with 40 years of finance experience.
Huge sound money advocate (money that cannot be printed)
Recently we had the chance to interview Larry ourselves, and in that interview he broke down why he believes in Bitcoin.
Here’s what Larry had to say:
“If one is trying to protect ones savings, one has to be in assets that the government can’t print. The government can’t print gold, silver & Bitcoin. The government can’t print stocks, but guess what, companies can print stocks, they can issue more shares.”
Larry is a HUGE sound money advocate.
So much so that his Twitter username is literally:
Lawrence Lepard, "fix the money, fix the world"
And before the invention of Bitcoin, Larry was focused on gold and silver.
But now his attention has shifted towards Bitcoin. 👀
“Bitcoin is a better asymmetric bet than gold. I think gold will protect your purchasing power. Bitcoin will grow your purchasing power.”
Larry makes the distinction that:
Gold is analogue sound money
Bitcoin is digital sound money
In our interview, Larry also gave us his price targets for this cycle:
“I’m hard pressed to see how we’re not at $100,000 by the end of 2024. And I think this cycle takes us to $200,000 or $300,000”
But Larry also emphasised that he doesn’t worry about the monthly or weekly price fluctuations of Bitcoin.
This is a multi-year play to Larry.
Meaning he’s not looking to sell anytime soon, and any dips along the way are just more opportunities to scoop up “cheap” Bitcoin.
If you’d like to hear more insights from Larry Lepard, make sure to checkout the full interview here.
It’s a banger. 💥
To celebrate the release of this interview we gave away $100 in Crypto to 3 lucky readers.
(One of the many reasons why you should read us everyday - you never know when we’ll drop our next giveaway!)
A special thanks to everyone who showed support & love towards the channel.
Crypto Nutshell readers are truly the best.
Without further ado - congratulations to our 3 randomly selected winners!
Wo******[email protected]
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If any of these resemble your email - check your inbox! You’ll see an email from us!
GERMANY AT IT AGAIN 🇩🇪
Here comes more selling pressure…
A German Government labelled wallet has sold another $52 million worth of Bitcoin.
The wallet transferred 832.74 Bitcoin in four individual transactions:
100 Bitcoin to Coinbase
150 Bitcoin to BitStamp
32.74 Bitcoin to Kraken
550 Bitcoin to an unknown wallet which has previously received funds from the German government
German government sending BTC to Kraken, BitStamp & Coinbase
On June 18th, the German government held 49,858 Bitcoin, worth ~$3 billion at todays prices.
But since then, they’ve been steadily unloading their holdings.
Having sold 6,310 Bitcoin in the last two weeks…
Which is worth ~$379 million.
As it stands, the German government now holds 43,548 Bitcoin and many are speculating that we could see further sales.
Coupled with the Mt. Gox distributions starting this month, we may be in for a bit of downward price pressure in the short-term. (check our article on Mt. Gox here)
Bitcoin’s price is already down 3.90% in the last 24 hours…
Bumpy road ahead. 👷
CRACKING CRYPTO 🥜
Galaxy expects spot Ethereum ETF in July, is optimistic about more crypto ETFs. Galaxy Digital head of asset management Steve Kurz said the SEC could approve an Ethereum spot in July and described prospects for other crypto ETFs.
Deutsche Telekom joins Subsquid decentralized network. Deutsche Telekom partners with Subsquid to enhance blockchain data security and efficiency, aligning with their decentralization strategy and recent Bitcoin mining expansion.
Bitcoin Sinks Under $61K as One Trader Sticks to $150K Prediction This Year. U.S.-listed ETFs ended a five-day inflow streak with $13 million in net outflows on Tuesday, while concerns of the Mt. Gox distribution may have contributed to a sell-off.
Bitcoin Could One Day Replace US Dollar, Says Twitter Founder Jack Dorsey. At a swanky Tuscan retreat, the Twitter and Block co-founder recently shared his vision for Bitcoin’s ascendancy to global supremacy.
WHAT WE’RE READING 📚
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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”)
Which crypto is currently the 4th largest, measured by market cap?(including stablecoins) |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: D) BNB 🥳
BNB is the 4th largest crypto with a market cap of ~$85.4 billion
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