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- 🥜 new day, new Bitcoin high
🥜 new day, new Bitcoin high
PLUS: HODLers standing strong
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GM to all 53,445 of you. Crypto Nutshell #261 feelin’ disbelief. 😳 🥜
We’re the crypto newsletter that won't freeze you out like a queen hiding her icy powers from her kingdom... ❄️👸
What we’ve cooked up for you today…
🚨 All-time high alert
💰 Huge Bitcoin prediction
💪 HODLers standing strong
💰 And more…
MARKET WATCH ⚖️
Prices as at 6:05am ET
Only the top 20 coins measured by market cap feature in this section
ALL-TIME HIGH ALERT 🚨
BREAKING: Bitcoin blasts through $70,000, setting new all-time high
Well that’s one way to start the week.
Out of no where, Bitcoin blasted through $70,000 like it was nothing.
Setting a new all-time high of $71,707 at the time of writing. 🥳🥳
(By the way things are going, Bitcoin will likely set a newer high as this newsletter is released)
AND Ethereum also broke through $4,000. 🥳🥳
TWO huge milestones to kickstart the week.
Bitcoin is in price discovery mode now.
Who knows what could happen. Maybe we hit $100,000 before the halving?
P.S in case you missed yesterday’s newsletter, we discovered that Monday’s are the most bullish days for the ETFs
So today could get even more insane… (America is just waking up now… 🇺🇸)
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HUGE BITCOIN PREDICTION 💰
Bitcoin’s reaching $1 million per coin. And it’s getting there before 2030.
That’s the latest prediction out from Cathie Wood.
Cathie Wood is the founder and CEO of ARK Invest, the third largest Bitcoin ETF issuer.
Previously, ARK Invest’s bull case for Bitcoin was $1 million by 2030.
In a recent interview with the New Zealand Herald, Wood explained that Bitcoin will likely hit the $1 million milestone sooner than we think.
The biggest reason for this updated price target is the launch of the ETFs.
No one expected them to be this popular this quickly. Not even the ETF issuers themselves.
“That target — it was before the SEC gave us the green light, and I think that was a major milestone, and it has pulled forward the timeline,”
Bitcoin’s recent price action over the last month has been nuts.
We’ve climbed from ~$47,000 all the way to ~$70,000.
But Wood explains that we’ve seen nothing yet.
Major wirehouses such as Morgan Stanley and Merrill Lynch haven’t even joined the game yet.
“No platform has approved Bitcoin yet, so all of this price action has happened before they approve it, and so we haven’t even begun.”
Bitcoin reaching $1 million within the next 6 years…
That’s quite the prediction…
But it’s not as crazy as it seems.
Two days ago Matt Hougan, CIO of Bitwise explained that he expects the major wirehouses to join the ETF game in Q2 of 2024.
Massive things are coming. 😎
HODLERS STANDING STRONG 💪
Today we’ll be taking a look at the classic Bitcoin HODL Waves.
Each coloured band shows the percentage of Bitcoin that last moved within that time period.
As the colours get darker, the age bands get older (purple being the oldest, representing coins last moved 10+ years ago).
We’ll just be focusing on coins last moved 6+ months ago. (long-term holders)
Here’s the breakdown:
6m - 12m: 8.54%
1y - 2y: 12.04%
2y - 3y: 11.03%
3y - 5y: 13.25%
5y - 7y: 10.66%
7y - 10y: 4.87%
>10y: 16.09%
That’s ~76.84% of the Bitcoin supply not moving for more than 6 months…
That’s wild.
There simply isn’t that much Bitcoin available for sale right now.
And with the ridiculous amount of demand coming in from the ETFs…
Combined with the halving…
Things are about to get real spicy. 🌶️ 😎
CRACKING CRYPTO 🥜
Bill Ackman sparks broad discussion on Bitcoin’s energy use. Bill Ackman, a well-regarded investor and CEO of Pershing Square Capital Management, outlined a hypothetical scenario that has sparked intense debate among crypto enthusiasts.
BlackRock Bitcoin ETF now holds more BTC than MicroStrategy. Bitcoin is technically superior to those asset classes. And that being the case, there’s just no reason to sell the winner to buy the losers.
Bitcoin ordinals volume jumps while ERC-404 experiment loses steam. Following bitcoin's all-time high this week, ordinal inscriptions have entered a trading frenzy to reach almost $173 million in volume.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
p.s. all completely FREE
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”)
Approximately, how many Bitcoin are created every 10 minutes?(This should be easy if you got yesterday's question correct) |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: A) 6.25 BTC 🥳
Every 10 minutes, miners verify one block of Bitcoin transactions. The current reward for verifying one block of bitcoin is 6.25 Bitcoin.
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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.
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