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- 🥜 Bitcoin will never drop below $35,000
🥜 Bitcoin will never drop below $35,000
PLUS: Institutional Money Coming
Today’s edition is brought to you by Animus Technologies.
GM to all 21,820 of you. Crypto Nutshell #158 hoppin’ in. 🦘 🥜
We’re the crypto newsletter that won't vanish like half the population after the snap of a cosmic titan's fingers... 🌌🧤
What we’ve cooked up for you today…
👩⚖️ CZ ordered to stay in the U.S ahead of sentencing
🤯 Bitcoin will never again drop below $35,000
💧 9 straight weeks of inflows for crypto ETPs
💰 And more…
MARKET WATCH ⚖️
Prices as at 7:45am ET
Only the top 20 coins measured by market cap feature in this section
CZ ORDERED TO STAY IN THE U.S 👩⚖️
Breaking: Binance founder Changpeng Zhao ordered by judge to stay in U.S. ahead of prison sentencing
Last week, Changpeng Zhao pleaded guilty to criminal charges relating to Binance. Zhao has now been ordered to stay in the U.S according to a ruling by a federal judge.
Zhao was released on a $175 million bond last week. His sentencing is scheduled for February 2024.
A couple of days ago, Zhao’s lawyers requested that he be allowed to travel back to the UAE. They noted that Zhao voluntarily came to the US to accept responsibility for his actions.
However, prosecutors believe that Zhao has already been given an extremely generous offer. Remaining free until sentencing is rare in cases this severe in nature.
“In the vast majority of cases, a multi-billionaire defendant who has pleaded guilty, faces possible prison time, and lives in a country that does not extradite its citizens to the United States would be detained.”
Zhao faces a maximum prison sentence of 18 months. He has agreed not to appeal any sentence up to that length. 🚔
Do you think CZ falling on his sword makes him a hero or a villain of the crypto industry? 🦸♂️ 🦹♂️
Is CZ a hero or a villain? |
Click here for the full article.
TOGETHER WITH ANIMUS 👾
Let’s be real.
There’s probably one main reason you love crypto.
The returns.
Bitcoin is the best-performing benchmark of the decade.
But what if you could do better.
Recently Bitcoin Magazine launched a ‘Bitcoin Alpha Competition’, a campaign to find the most promising approach for generating alpha.
The winners? Animus Technologies.
Animus Technologies is an AI-platform designed to develop data-driven trading strategies for cryptocurrencies.
Their mission: Provide clients with sustainable success in crypto markets through curated investment strategies.
Developed over 6+ years, their results are nuts:
Launching in 2020, Animus Technologies has returned 192.98% vs Bitcoin 40.95% 📈
Uses cutting-edge artificial intelligence and sentiment analysis to out-return Bitcoin on an outright & risk adjusted basis ✅
Won Bitcoin Magazines ‘Bitcoin Alpha Competition’, receiving $1 million in seed capital 🌱
Animus Technologies is looking at taking on a limited number of new clients.
If you are looking to leverage A.I and out-return Bitcoin, you can click here to book a call with their team today to see if they’re right for you.
BITCOIN WILL NEVER DROP BELOW $35,000 🤯
Just last week, we brought you a prediction by on-chain analyst Willy Woo.
He found a pattern that suggests we’ll never see the Bitcoin price fall below $30,000 ever again.
This week, we’ll do you one better.
On-chain analyst Plan B just predicted we will never again see the Bitcoin price drop below $35,000.
With Bitcoin sitting only at $37,000, that’s a bold call.
Plan B is one of the most popular on-chain Bitcoin analysts.
He’s the mastermind behind many various Bitcoin pricing models.
His accuracy has earned him a following of close to 2 million crypto investors.
Why does he believe Bitcoin won’t drop below $35,000?
His prediction is based on a Bitcoin valuation model based on difficulty.
Bitcoin’s difficulty refers to it’s total hash rate. Hash rate is a measurement of the total computational power of the Bitcoin network.
Bitcoin’s hash rate has gone exponential in 2023.
Bitcoin Hash Rate
Using this to value Bitcoin & Plan B is confident we won’t ever again see the Bitcoin price below $35,000. (Outside of any black-swan events or short term volatility.)
Plan B Bitcoin Valuation Model
Bottom Line: All pricing models & valuations eventually fail.
But it is reassuring to see 2 top on-chain analysts in the space - Willy Woo & Plan B - both confident Bitcoin isn't heading lower anytime soon. 😎 👑
9 STRAIGHT WEEKS OF INFLOWS 💧
According to CoinShares latest report, crypto ETPs saw their ninth straight week of inflows.
For the week ending 24 November, $346 million flowed into crypto ETPs. The largest weekly inflow during this 9 week stretch.
This brings the year-to-date total inflows to $1.66 billion.
If you’re not sure what an ETP is, here’s the definition from CoinShares:
“An exchange-traded product (ETP) is a type of financial instrument which is bought and sold on a regulated stock exchange that allows investors to gain exposure to the price movements of an underlying benchmark or asset without having to own the asset itself.”
Like usual, Bitcoin dominated the weekly inflows with $311.5 million. This brings the YTD inflows to just over $1.5 billion.
Ethereum saw $33.5 million of inflows last week. CoinShares notes that we’ve seen a sharp turn around in sentiment on Ethereum.
The last 4 weeks have almost corrected the large amount of Ethereum outflows we saw earlier in the year.
Now let's break these inflows down by country.
ETPs within Canada and Germany saw the most action last week. Together they accounted for 87% of total weekly inflows.
The US saw inflows of $30.2 million. Investors are likely waiting on the approval of the eventual spot Bitcoin ETFs.
One thing is clear - institutional money & interest is pouring back into the space. 🌊
Can you smell that bull run approaching?
We sure can. 😎
Checkout the full report here.
CRACKING CRYPTO 🥜
WHAT WE’RE READING ✍️
Want to get even smarter? Check these out.
p.s. all completely FREE
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CAN YOU CRACK THIS NUT? ✍️
What is Bitcoin’s current market cap?
A) $500 billion
B) $659 billion
C) $724 billion
D) $745 billion
Find out the answer at the bottom of “Meme Corner” below 😀
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: C) $724 billion 🥳
At the time of writing, Bitcoin’s market cap is currently ~$724 billion
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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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