GM to all 14,850 of you. Crypto Nutshell #120 coming’ through. 🦍 🥜 

The crypto newsletter that's more spellbinding than a young wizard's adventures at a magical school... 🧙🏰 

Today, we’ll be going over:

• 🥊 SEC vs Binance continues

• 🌠 Once in a lifetime opportunity

• 🍾 Hash rate continues to pop off

• 🤑 And more…

MARKET WATCH ⚖️

Only the top 20 coins measured by market cap feature in this section

SEC VS BINANCE CONTINUES 🥊 

BREAKING: US Chamber of Digital Commerce files motion to dismiss SEC case against Binance

The US Chamber of Digital Commerce has stepped up in support of Binance.

In an amicus brief filed on Oct. 19, the organisation roasted the SEC’s enforcement of crypto. They compared the SEC's lawsuit against Binance to “suing the equivalent of a grocery store selling oranges and other fruit”. 🤣

The brief states that the SEC has been disrupting innovation within the US. As a result, many crypto startups have decided to leave the US behind. And Ultimately the SEC’s understanding of crypto is flawed.

The SEC previously sued Binance and Coinbase for the unregistered sale of securities. But the SEC never provided guidelines for which digital assets count as securities.

The brief raises a very interesting point. How can the SEC sue these exchanges for breaking rules that they refuse to clarify?

Anyway, the battle between the SEC and crypto continues. 🥊

For more on this story click here.

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ONCE IN A LIFETIME OPPORTUNITY 🌠

Crypto is a once in a lifetime opportunity.

That’s the latest message out from macroeconomist, Raoul Pal.

In his most recent interview, he made 2 predictions.

1. Bitcoin, crypto and the NASDAQ are all going to out-perform over the next 14 months. Raoul see’s a perfect storm: more liquidity & the pausing or cutting of interest rates 📈

2. Bitcoin will end the year at $33,000+ 🤑

Raoul made the prediction that Bitcoin would end the year up over 100%. (It’s currently up over 80% in 2023.)

With Bitcoin starting the year at ~$16,600, this would have Bitcoin over $33,000.

His main takeaway?

Don’t miss this once in a lifetime opportunity:

HASH RATE CONTINUES TO POP OFF 🍾

Bitcoin’s hash rate is unstoppable.

It’s been putting in all-time highs almost every single day.

Just this week it reached 444 Eh/s with it topping out at 456 Eh/s on October 12th. Keep in mind this is a weekly average.

During the 2021 bull run the hash rate never crossed 200 Eh/s. Which is insane because the current hash rate is over 2x the hash rate when Bitcoin reached it’s all time high.

In case you’re not sure. Bitcoin’s hash rate is the most critical metric. It measures the total computational power of the Bitcoin network. 

A higher hash rate means that Bitcoin is more secure. There’s two ways it can increase:

• New miners joining the network

• Existing miners upgrading to more efficient machines

But a higher hash rate can also mean increased competition for miners. And Increased competition leads to increased costs. 

If this continues without Bitcoin’s price significantly increasing, we may see the least efficient mining rigs shut down.

Plus the next halving is fast approaching…

The halving cuts the block reward miners receive in half (obviously…). If Bitcoin’s price doesn’t significantly increase this would also add a tonne of pressure to miners.

Bottom Line: Although the previous paragraphs make it seem like miners may be in for tough times. That’s not necessarily the case…

We’re just covering all bases here. 😎

At the end of the day, an increasing hash rate is super bullish for Bitcoin. Miners are expanding their facilities by adding new rigs every day.

A clear sign of the confidence they have in Bitcoin’s future.

The Bitcoin network has never been stronger (literally) 💪

CRACKING CRYPTO 🥜

WHAT WE’RE READING ✍️

Want to get even smarter? Check these out.

p.s. all completely FREE

CAN YOU CRACK THIS NUT? ✍️

Bitcoin exchange balances are currently at a 5 year low. How much Bitcoin is left on exchanges?

• A) 2.266 million

• B) 2.299 million

• C) 2.843 million

• D) 3.437 million

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) 2.299 million 🥳 

Bitcoin on exchanges is getting seriously low, yesterday we broke down what this means and why it matters. Checkout the article here.

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NUTCASE REVIEW OF THE DAY 🔍

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.