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- 🥜 Bitcoin will take-off in 39 days. Here's why:
🥜 Bitcoin will take-off in 39 days. Here's why:
PLUS: $1 Million Bitcoin = Conservative
GM to all 14,183 of you. Crypto Nutshell #111 racin’ through. 🏎️🥜
We’re the crypto newsletter that's more delightful than discovering an ancient artifact that can bring objects to life... 🏺✨
Today, we’ll be going over:
🔗 JPMorgan launches a blockchain
😳 Why $1 Million Bitcoin = conservative
🚀 39 days until lift-off
🤑 And more…
MARKET WATCH ⚖️
Prices as 5:35am ET
Only the top 20 coins measured by market cap feature in this section
JPMORGAN BLOCKCHAIN LAUNCH🔗
BREAKING: BlackRock and Barclays use JP Morgan blockchain app in milestone trade
JPMorgan just launched their blockchain based tokenisation platform, Tokenized Collateral Network (TCN).
The platform recently facilitated it’s first trade for asset management giant BlackRock.
Shares of a money market fund were tokenised and transferred to Barclays Bank as security for an over-the-counter derivatives exchange.
Now we know this sounds complicated. But the big idea here is the tokenisation of shares.
This is massive news. It opens the doors for tokenisation of other assets such as stocks and real estate.
The TCN streamlines the traditional settlement process. (have you ever sold a stock? That sh*t can take a couple of days to settle).
By using decentralised technology, settlement only takes seconds.
This is also a pretty ironic development. In the past JPMorgan has been pretty sceptical when it comes to Bitcoin and crypto.
For example, earlier this year, JPMorgan CEO Jamie Dimon said “Bitcoin itself is a hyped up fraud”.
The only reason they know about blockchain is because of Bitcoin...
JPMorgan Launches Tokenization Platform - First Trade Settled With BlackRock.
“Bitcoin itself is a hyped up fraud.”
~ Jamie Dimon CEO JP Morgan— Jason A. Williams (@GoingParabolic)
1:29 PM • Oct 11, 2023
Are we about to see the tokenisation of all traditional financial assets? 🤔
For more on this story, checkout the full article here.
TOGETHER WITH REKT RADAR 🤑
Crypto is like the wild west of investing. 🤠
It’s not uncommon to see 10x, 50x or even 100x plus returns in a bull market.
As much as we love Bitcoin & Ethereum, unfortunately they’re most likely not going to pull a 100x next bull run. They’ve gotten too big.
The next 100x gem is most likely going to come from a coin you’ve never heard of before.
The problem? There’s literally thousands upon thousands of coins.
That’s why we read Rekt Radar.
Think of it like the Crypto Nutshell, but for DeFi: They share the best kept secrets on the latest DeFi & smaller crypto gems.
The best part?
Just like us, they’re completely free.
Smash that subscribe button and it’ll automatically add you to their list.
Future you will thank you. ❤️
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$1 MILLION BITCOIN IS CONSERVATIVE 😳
Back in early 2018, Cathie Wood & ARK Invest made a bold prediction.
Tesla stock would be trading at $4,000 by 2023.
At the time, many analysts and investors laughed at the prediction. Not only was it highly optimistic, it was downright unrealistic.
But Cathie & her firm thought they saw something. They stuck to their guns.
Less than 3 years later, in January 2021, Tesla stock was trading at $4,000 a share on a pre-stock-split adjusted basis.
Cathie and her ‘unrealistic’ prediction had come off. 2 years early.
Now, Cathie and her firm have made another ‘bold’ and ‘unrealistic’ prediction.
This time for Bitcoin.
Revealed in their 2023 big ideas presentation, they have 3 price targets for Bitcoin:
Bear Case: $258,000
Base Case: $682,800
Bull Case: $1,480,000
Cathie & ARK invest have a deadline on these targets of 2030. ⏰
In an interview today, Cathie called these predictions conservative.
Why?
The price models they used for the price targets, used very conservative numbers for institutional investment.
“I have been in the markets for a long time. As new asset classes evolve, what institutions do in particular, they tiptoe in. They start with 1% and then they migrate to 2%. Then they migrate to 5%. When there's a new asset class, it tends to end up in the 5% - 6% range.”
The price targets are undeniably bold. But Cathie and ARK Invest have a track record of their bold predictions coming off.
But we want to hear it from you: what do you think of the price targets?
POLL
What do you think of Cathie's price targets? |
39 DAYS TO LIFT-OFF 🚀
We all know the next halving will happen in late April 2024. (If you have no idea what that means checkout this short video).
The amount of newly created Bitcoin released into the market gets cut in half. Supply gets reduced. Demand typically increases (more people start to talk about Bitcoin). And the price goes up.
Simple economics states:
Decreased supply + increased (or constant) demand = price go up 🚀
But have you heard of the pre halving rally?
Popular Twitter technical analyst CryptoCon just published a very interesting chart.
If you take a look at the last two cycles (blue & red) you’ll notice that there’s a long period of sideways price action. This is immediately followed by a pump in price. 📈
If history were to repeat itself, CryptoCon says that this pre halving price rally is only 39 days away.
Mark down November 21st in your calendars. It could be a big one. 🤑
Charts lining up like this are always fun to look at.
BUT anytime we look at stuff like this we have to mention that just because something happened in the past, doesn’t mean it’ll happen again…
Anyways, we’ll leave you with the classic Mark Twain quote:
“History never repeats itself, but it does often rhyme.”
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 month is the next halving expected to take place?
A) May 2024
B) March 2024
C) June 2024
D) April 2024
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: B) April 2024 🥳
For a live countdown checkout this website.
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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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