- Crypto Nutshell
- Posts
- 🥜 Selling has started
🥜 Selling has started
PLUS: Cathie Wood prediction
Today’s edition is brought to you by Animus Technologies.
GM to all 46,587 of you. Crypto Nutshell #251 skatin’ in. ⛸️ 🥜
We’re the crypto newsletter that's less heart-wrenching than surviving a post-apocalyptic world with monsters sensitive to sound... 🙉 👾
What we’ve cooked up for you today…
🌊 The outflows are back
🤑 Bullish Bitcoin prediction
📉 Exchange balances dropping
💰 And more…
MARKET WATCH ⚖️
Prices as at 5:25am ET
Only the top 20 coins measured by market cap feature in this section
THE OUTFLOWS ARE BACK 🌊
BREAKING: Grayscale’s GBTC dumps $600 million - second largest net outflow on record
Outflows from Grayscale (GBTC) have picked up again…
Yesterday saw $598.9 million in net outflows for GBTC.
That’s the second largest net outflow day on record.
But…
Really? It’s nothing to worry about.
BlackRock alone had net inflows of $603.9 million.
It was still a net positive day for the ETFs even with $600 million in outflows from GBTC.
Think about how crazy that is for a second.
AND according to Fred Krueger, these outflows from Grayscale will likely be net neutral anyway.
If these outflows are related to the Gemini Earn bankruptcy…
Gemini will buy Bitcoin with the cash proceeds from the GBTC sale. This is because they plan on returning Bitcoin to customers rather than cash.
The last three days from BlackRock have been absolutely MASSIVE.
TOGETHER WITH ANIMUS 👾
Over the past year, the crypto market has been on fire. 🔥
12-months ago, Bitcoin was trading at $20,000 and Ethereum was trading at $1,500.
But where will prices go now?
Will there be a sell-off before the Bitcoin halving?
Or will there be a move up in anticipation?
Truth is - timing the market is extremely difficult.
But what if we could use the power of A.I to help us.
That’s where Animus Technologies comes in.
Animus Technologies takes the guess-work out of crypto.
They’ve developed data-driven trading strategies to out-perform the market without the need to add any excess risk.
Developed over 6+ years, their track record is incredible:
Uses cutting-edge artificial intelligence and sentiment analysis to out-return Bitcoin on an outright & risk adjusted basis ✅
Animus Technologies has crushed it, returning +345.57% vs Bitcoin +119.05% 📈
Won Bitcoin Magazines ‘Bitcoin Alpha Competition’, receiving $1 million in seed capital 🌱
Animus is looking at taking on a limited number of new clients.
If you are looking to leverage A.I and out-return Bitcoin, you can click here to book a call with their team to see if they’re right for you.
BULLISH BITCOIN PREDICTION 🤑
Bitcoin could hit $1.5 million in the next 4 years.
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.
Appearing on Peter H. Diamandis’ podcast, Cathie spoke on the success ARK has had so far as a Bitcoin ETF issuer.
But Cathie pointed out one interesting detail…
ARK’s primary customer base still doesn’t have access to the ETFs…
“The wirehouses, which dominate our customer base [Morgan Stanley, UBS, Merrill lynch, Wells Fargo], not one of them has approved Bitcoin on its platform… Those are our primary clients… Wait until that happens…
Once approved, expect things to get even more insane than they already are.
Speaking on why ARK and herself are so bullish on Bitcoin, Cathie had this to say:
“This is not just a technology. It’s a new asset class. AND beyond that it’s a global monetary system. The first global, private [no government oversight], digital and decentralized rules based monetary system in history. It’s a BIG idea.
Here’s where it gets real juicy.
Cathie is calling a $1.5 million Bitcoin price by 2027. 😱
That is insane.
“Our bull case is $1.5 million by 2027. We still have time and we still think that’s going to be right.”
And here’s Cathie’s logic behind this prediction:
“There are 19.6 million bitcoin out there right now and the highest it will ever go is 21 million. There’s real scarcity value. The price increase for every institutional dollar pushing in now is going to be much higher than it was last year, two years ago etc.”
It all comes down to supply and demand.
Bitcoin is a scarce asset, there will only ever be 21 million of them.
And a large percentage of that is already considered lost.
Now we’ve added Wall Street to the equation.
Demand is going nuts at the same time the supply is constricting.
A super cycle may be coming.
EXCHANGE BALANCES DROPPING 📉
Today we’ll be taking a look at the amount of Bitcoin available for sale on exchanges.
Decreasing exchange balances: Bullish indicator as it signals a shift towards long-term holding 🐂
Increasing exchange balances: Bearish indicator as coins being transferred to exchanges are more likely to be sold 🐻
Currently there is only 2,311,445 Bitcoin available for sale on exchanges.
That’s ~11.77% of the entire circulating supply.
And it marks a decrease of 18,475 Bitcoin since we last checked in on this metric two weeks ago.
In other words, ~$1.76 billion in Bitcoin has been taken out of exchanges in the last two weeks.
Exchange balances have been in free fall since 2020.
Currently we’re at early April 2018 levels.
Bitcoin’s supply dynamics are extremely bullish right now. 🐂
With this in mind, we think there’s only way one the price can go.
And that’s up. 😎
CRACKING CRYPTO 🥜
MicroStrategy's MSTR shares rally, earns spot among top 500 US companies. Business intelligence firm MicroStrategy is eyeing a S&P 500 inclusion after its market cap tops $16 billion.
US gov’t moved $922 million of seized Bitcoin after BTC price broke $60,000. The government’s transfer occurred the same day Bitcoin breached the $60,000 mark for the first time in over two years.
Bitcoin ETF trade volumes retreat from record level — but stay high. Bitcoin funds from BlackRock, Grayscale Investments and Fidelity each notched at least $1 billion in trade volumes Thursday.
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”)
The Bitcoin ______ is the set of rules that define how the Bitcoin system operates. |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: A) Protocol🥳
The Bitcoin protocol is the set of rules that govern the functioning of Bitcoin.
GET IN FRONT OF 46,000+ CRYPTO INVESTORS
Advertise with Crypto Nutshell to get your product or brand in front of the crème de la crème of crypto investors. Crypto Nutshell readers are high-income earners who are always looking for unique or interesting offers.
WANT EVEN MORE KNOWLEDGE? 📚
Hungry for even more free newsletters? Check these out which we subscribe to:
HOW DID WE DO? 🤷
We read every comment submitted in this poll and love to hear what you guys have to say. 😁 (bonus points for suggestions 🍪)
What did you think of today's Newsletter?Don't worry, you won't hurt our feelings... 🥲 |
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.
Reply