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- 🥜 Forget BlackRock...
🥜 Forget BlackRock...
PLUS: Bitcoin just can't stop
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GM to all you crypto nuts. Crypto Nutshell #486 trottin’ in… 🐩🥜
We're the crypto newsletter that's more thrilling than hunting down clues to crack a legendary murder case... 🕵️🔪
What we’ve cooked up for you today…
🏦 It just keeps going up
🪨 Forget BlackRock…
📈 Investors want more
💰 And more…
Prices as at 4:05am ET
IT JUST KEEPS GOING UP 🏦
BREAKING: As Bitcoin hits $80,000, Standard Chartered calls new Solana peak 'inevitable' by year's end
Since Trump won the election, things have been crazy.
Bitcoin has been setting all-time highs basically every day…
And over the weekend, Bitcoin crossed $80,000 for the first time ever. Setting a new high of $81,858.
But wait it gets better…
With Bitcoin now comfortably above $80,000…
We’ve officially set a new inflation adjusted all-time high! 🥳
That’s a big deal!
As crypto continues to rally, Standard Chartered’s head of digital asset research Geoff Kendrick reaffirmed his bullish targets:
"$125,000, which I forecast for the end of the year, is the next level, although I note following the 2016 election a lot of Trump trades peaked around the time of the Jan. 20 inauguration...So if BTC can’t reach $125,000 by Dec. 31 I think it will by Jan. 20."
$125,000 by the end of the year is a ~56.25% increase from where we are today.
That would be pretty ridiculous…
But it’s not out of the realm of possibility judging by what we’ve seen over the last few days.
Kendrick is also predicting both Ethereum and Solana will set fresh all-time highs in the short-term:
“A fresh all-time high for SOL (the all-time high is $260 from Nov. 2021) before the end of the year seems inevitable. For a fresh all-time high in ETH (which is $4,866 from Nov. 2021) we will likely have to wait until, roughly, the inauguration… More broadly we think all boats will keep rising but that of the three, SOL is likely to perform best.”
Currently, Ethereum is ~34.5% below its all-time high of $4,878.26, reached on November 10, 2021.
And Solana is ~18.9% below its all-time high of $260, reached on November 7, 2021.
Kendrick closes out his report by predicting that the entire crypto market will ~4x by the end of 2026:
"With all boats rising and fresh real world use cases coming through I see the entire asset class getting to $10 trillion by the end of 2026."
It’s crazy how fast things flipped to being insanely bullish…
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FORGET BLACKROCK… 🪨
Forget about BlackRock.
Counties are coming for your Bitcoin.
Get ready to witness a wave of nation-sized FOMO...
David Bailey is the owner of Bitcoin Magazine and was the conference organiser of Bitcoin 2024 in Nashville.
He was the first person to leak that Donald Trump would be speaking at the Bitcoin 2024 conference, back in July.
So, David has a pretty trustworthy track record.
This week, he dropped a new bombshell. 💣
A nation state has been acquiring Bitcoin in the shadows, and is now a top 5 holder:
Although this hasn’t been confirmed yet, David is a reliable source.
When (if) this information comes to light, we’re about to witness FOMO on an unprecedented scale.
Soon. 👀
INVESTORS WANT MORE 📈
As you know by now, Bitcoin keeps hitting new highs.
It even broke through $80,000 for the first time ever this weekend.
But instead of selling off, it just keeps grinding higher and higher…
So today we’ll be answering the question: Are Bitcoiner’s taking profits?
The chart below tracks the amount of realized profit and loss of the Bitcoin market:
🟢 Investors are selling at profits
🔴 Investors are selling at losses
So to answer the question, yes of course some Bitcoiner’s are taking profits.
When prices hit new highs, this is bound to happen.
According to Glassnode, profit taking hit a high of $3.5 billion as Bitcoin shot up from $68,000 to $76,000.
And whilst this may seem like a lot…
It’s actually tiny compared to previous all-time highs.
Back in March of this year when Bitcoin crossed over $70,000 for the first time ever, profit taking hit a high of $9.45 billion.
The 2021 bull run saw profit taking regularly cross the $6 billion mark.
Even the 2017 bull run saw profit taking levels hit $4.16 billion.
Which is insane…
Right now, less profits are being taken compared to 2017. Despite Bitcoin being 4x higher…
There’s a simple takeaway from this data:
Investors are patiently waiting for higher prices. 🚀
CRACKING CRYPTO 🥜
Crypto mergers and acquisitions expected to spike under second Trump presidency. Merger advisers and venture capitalists believe dealmaking will become easier with a change in SEC leadership but some hurdles will remain.
Elon Musk reposts call to end the Federal Reserve Bank. The United States dollar has lost approximately 96% of its value since the Federal Reserve Bank was established in 1913.
Solana Joins $100B Club, Hitting Nearly a Three-Year High Above $210. The fourth largest crypto could potentially reach its 2021 record high of $260 in the coming days given, one analyst noted.
SEC again delays decision on spot Ethereum ETF options. In a filing on Friday, the SEC said it delayed its decision to allow for more analysis and public input.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
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The Hustle (link) - Get Smarter on Business and Tech
Your Next Breakthrough (link) - Personal growth with Mark Manson
The Neuron (link) - AI trends and tools to keep you ahead
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 public company currently holds the most Bitcoin? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: C) MicroStrategy 🥳
MicroStrategy currently holds 252,220 Bitcoin.
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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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