GM and welcome to The Crypto Nutshell! 🥜 Your one-stop-shop for cracking open the day's most important crypto news, expert analysis, and on-chain data. We shell out this information to your inbox EVERY single day. Today, we’ll discuss:

• Recapping the last 24h of the crypto market 📊

• Cathie Wood remains firm on $1 million BTC prediction 💰

• This unique spiral chart has some mind blowing data to share 🤯

• And more…

MARKET WATCH ⚖️

BTC Dominance is currently at 51.5% and the current crypto market cap is $1.18T

Biggest Winners of The Day

• Compound (COMP) ▲16.42%

• UNUS SED LEO (LEO) ▲3.92%

• BNB (BNB) ▲2.89%

Biggest Losers of The Day

• Bone ShibaSwap (BONE) ▼5.78%

• Conflux (CFX) ▼5.56%

• Avalanche (AVX) ▼5.52%

All data as of 8:25am ET

EXPERT OF THE DAY - CATHIE WOOD 🌳

🚨 Cathie Wood believes that Crypto is going to $650,000 per coin by 2027… and then onto over $1 Million dollars. 🚨

Here’s why.

For those of you that missed it, Cathie Wood & her firm ARK invest’s big ideas report released earlier in the year, they have a huge part of it dedicated to blockchain technology and specifically Bitcoin. 



Broken down with her most recent interview with Anthony Pompliano, Cathie confirmed that as her base case, she has Bitcoin hitting a price of ~$650,000 per coin by 2027. 💸

However that’s not all, Cathie said she has brought these estimates down due to the debacles with centralised, opaque institutions this year (think the regional banking crisis), meaning institutions will be slightly more risk averse for a longer time frame. 



Cathie then said her bull case is a mind blowing $1.5 Million per Bitcoin by 2027. Insane. 

🤯

ON CHAIN DATA DIVE 📊

Let’s checkout this 4 year spiral chart by @therationalroot

To understand this chart you need to know two things:

1. Each full rotation of this chart represents the 4 year Bitcoin cycle, with each quadrant marking 1 year in the journey.

2. Each ring represents a price point, escalating by tenfold each time as you go further out, with the outermost ring representing $1 million.

From Bitcoin's humble beginnings (at the chart's core), the price twists and turns, spiralling outward with time, never allowing the paths to intersect. This chart clearly highlights the remarkable consistency of the Bitcoin cycles, continuing to expand each and every year.

If Bitcoin continues on the same path, the price during the next cycle will fall somewhere between $100,000 and $1,000,000.

Important to know.

This doesn’t mean that the latest cycle price has never fallen below the price level of the previous cycle, just that the price point of the latest cycle has never been lower when compared to the same point in time of the previous cycle.

Checkout this blog post for a deeper dive into this chart and the data behind it.

CRACKING CRYPTO 🥜

After participating in El Salvador's Bitcoin education program, 18-year-old Gerardo Moran transitioned from earning $6 a day in construction to educating senior professors at his former high school about Bitcoin.

The SEC is clashing with crypto giants like Coinbase and Binance, aiming to enforce stricter regulations for investor protection. Amidst this tug-of-war, the future of cryptocurrency in the U.S. hangs in the balance, highlighting a pivotal moment in the digital investing world.

The upcoming Bitcoin halving in 2024 may push mining costs to $40,000 per Bitcoin, threatening miners' profitability. Amid escalating electricity costs and debt burdens, less efficient miners could face extinction unless Bitcoin prices rise to $50,000-$60,000.

Despite hundreds of firms applying for Hong Kong's crypto licenses, recruiters are yet to see a significant increase in hiring within the industry. As companies await license approvals, it's expected the city will face a talent war as the local talent pool remains thin.

TRIVIA TIME ✍️

What hash function does Bitcoin use?

• A) SHA-265

• B) Keccak256

• C) MD-5

• D) Whirlpool

Find out the answer at the bottom of this newsletter 😀

MEME CORNER 😂

Because what would the crypto world be without its share of memes?

Trivia Answer: A) SHA-256 🎉

Bitcoin uses the SHA-256 hash function.

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.