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🥜 How to make the most money in crypto
PLUS: The FOMO Indicator
GM to all 42,324 of you. Crypto Nutshell #220 wrigglin’ over. 🐛 🥜
We’re the crypto newsletter that's more captivating than a group of archaeologists battling supernatural forces to save the world... ⚱️🌎
What we’ve cooked up for you today…
😤 Vanguard does not like BTC
💰 How to make the most money in crypto
🚨 The FOMO indicator
💰 And more…
MARKET WATCH ⚖️
Only the top 20 coins measured by market cap feature in this section
VANGUARD DOES NOT LIKE BTC 😤
BREAKING: Vanguard says Bitcoin is “immature asset class”
As the Bitcoin ETFs launched, Vanguard users soon discovered that they were blocked from trading.
Attempting to purchase any of the Bitcoin ETFs would result in a "trade cannot be completed" error message.
Janel Jackson, Global head of ETF capital markets at Vanguard released a statement explaining the asset managers decision.
“While crypto has been classified as a commodity, it’s an immature asset class that has little history, no inherent economic value, no cash flow, and can create havoc within a portfolio.”
Despite BlackRock & Fidelity jumping into Bitcoin, Vanguard has no plans of launching their own ETF any time soon.
“No, given the current state of crypto as an asset class, Vanguard does not have plans to launch its own Bitcoin ETF or any crypto-related products… We do not currently believe that there is an appropriate role for them to play in long-term portfolios.”
However, ETF analyst Eric Balchunas believes there’s a chance we see a Vanguard Bitcoin ETF in the future.
“Vanguard’s decision to bar trading in new spot Bitcoin ETFs on its platform is on-brand for the firm but a position that we think may soften in the coming years as it looks to grow the advisory business”
This stance from Vanguard is odd.
They previously offered customers access to GBTC (before it converted to an ETF) and BITO (Bitcoin futures ETF).
Plus they also own $560 million in Bitcoin mining stocks…
Anyways, they’re standing firm on this decision.
For now…
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HOW TO MAKE THE MOST MONEY 💰
How do you make the most money in crypto?
The answer is something everyone wants to know.
This week, our favourite macro-analyst, Pentoshi, gave his answer.
Pentoshi is an anonymous technical analyst who regularly posts his charts, trades, and macro predictions on Twitter.
He's amassed a following of over 700,000 investors for two reasons:
His brilliant technical analysis
His stunningly accurate macro calls
He also uses a cartoon penguin as his identity. 🐧
This week, he gave advice on how to make the most money in crypto.
In a nutshell?
Be stupidly bullish.
Pentoshi also gave a timely reminder.
There is unlikely going to be an opportunity like crypto again in our lifetime.
Crypto is the greatest wealth transfer of our generation. But only the bulls will take the risk to make the life-changing returns.
When in doubt, remember this:
“There is unlikely to be any opportunity again like the one we’ve had and that’s still in front of us right now. The extreme opps will fade one day. And only bulls will take the chances needed to do 10x+.”
At this stage of crypto adoption, it pays to be a bull. 🐂 💰
THE FOMO INDICATOR 🚨
Today we’ll be taking a look at our favourite on-chain metric.
The Realized Cap HODL Waves (RHODL) is a nice way to visually break down the balance of wealth in the Bitcoin Network.
RHODL weighs active supply bands by their realized USD value as a proportion of the Realized Cap.
For example, A 1y-2y age bracket with a value of 5% indicates 5% of the Realized cap USD value is derived from coins aged between 1y and 2y.
(The realized cap is measured by taking the price that each coin last moved at)
Warmer Colours (red, oranges, yellows): indicate younger coins
Cooler Colours (greens, blues, purples): indicate older coins
Today we’ll be focusing on coins younger than 6 months.
Here’s the breakdown:
24h: 1.07%
1d - 1w: 4.49%
1w - 1m: 11.38%
1m - 3m: 11.15%
3m - 6m: 5.74%
That’s 33.83% of Bitcoin’s realized cap being made up of coins younger than 6 months old. (about usual for this point in the cycle)
The reason this metric is so powerful is because we can use it to visualise market FOMO (fear of missing out). 😨
Peaks in Bitcoin’s price coincide with peaks in the amount of short-term holders.
So if you’re looking to really maximise your profits this bull run, we recommend checking in on this metric every now and then.
Still, as you can see in the chart above, we’re in the early stages of a bull run (short-term holders are only just beginning to rise).
CRACKING CRYPTO 🥜
CFTC Chair calls for comprehensive regulation for digital assets following ETF approvals. In a detailed speech delivered in Naples on Jan. 26, CFTC Chair Rostin Behnam said regulators need to ramp up their efforts to supervise the budding cryptocurrency industry.
Bitcoin ETF ads may appear on Google starting Monday, community speculates. Google’s updated policy on cryptocurrency-related advertising is scheduled to kick in on Jan. 29.
Buying bitcoin when CZ tweets ‘gm’ has paid off so far — but so has stacking sats. Bitcoin tends to go up after Zhao tweets “gm.” Although the subsequent rallies are often short-lived, it happens almost every time.
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? ✍️
Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)
In crypto, what does the term NFT stand for? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: C) Non-Fungible Token 🥳
NFT stands for ‘non-fungible token’. Non-fungible means that something is unique and can’t be replaced.
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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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