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🥜 Unbelievable Bitcoin Price Prediction
PLUS: El Salvador Winning
Today’s edition is brought to you by RAREMINTS - discover your next 10x crypto opportunity!
GM to all 42,774 of you. Crypto Nutshell #228 countin’ down. ⏰ 🥜
We’re the crypto newsletter that's as action-packed as a group of mutants fighting against prejudice and a threat to their existence... 🦸♂️ 🦹♀️
What we’ve cooked up for you today…
💰 Big day for El Salvador
🔮 Shocking Bitcoin pricing model
🏄♂️ Inflows are back
💰 And more…
MARKET WATCH ⚖️
Prices as at 4:35am ET
Only the top 20 coins measured by market cap feature in this section
BIG DAY FOR EL SALVADOR 💰
BREAKING: El Salvador embraces future with Bitcoin as President Bukele secures historic victory
El Salvador President Nayib Bukele revealed he won his re-election bid by a landslide.
“According to our numbers, we have won the presidential election with more than 85% of the votes and a minimum of 58 of 60 deputies in the Assembly. The record in the entire democratic history of the world.”
Many expected a Bukele victory as he led in pre-election polling by a significant margin.
Bukele’s crackdown on gang violence is insanely impressive.
Since he became president, the murder rate in El Salvador has fallen by more than 90%.
But, you may be wondering why we’re talking about El Savador in today’s newsletter. 🤔
Well it turn’s out Bukele is also a huge Bitcoin bull.
Back in 2021, Bukele legalised Bitcoin as an official currency. (the first country in the world to do so)
Posted on Nov. 17, 2022
Whilst many criticised El Salvador’s adoption of Bitcoin, Bukele has remained committed to the cause.
In total they have purchased 2,826 Bitcoin, worth over $120 million.
Other notable Bitcoin initiatives include the Freedom Visa program. This program grants citizenship to foreign investors who invest $1 million in BTC or USDT in the country.
CryptoSlate reports that the government has raised $153 million through this initiative since December 2023.
Is it time to pack our bags and move to El Salvador?
Which country will be next to adopt Bitcoin as legal tender?
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SHOCKING BITCOIN PRICING MODEL 🔮
Bitcoin will hit $200,000 in 2025.
At least according to the most accurate Bitcoin pricing model ever created…
The model was created by astrophysicist, Giovanni Santostassi.
Giovanni has a PhD in astrophysics. He's an expert in mathematics, gravitational waves and neuroscience.
When Giovanni first learnt about Bitcoin, he didn’t approach it from a financial perspective.
Instead, he used his physics & math background to begin modelling it.
He found that Bitcoin follows a power law.
Power laws are able to predict seemingly unrelated patterns of the universe.
They pop up in many areas of life, such as in biology, language and economics.
You may remember last week we covered Giovanni & his power law model.
Since then, Giovanni & his power law model has gone semi-viral.
In the interview we cover the questions everyone wants to know:
What are power laws?
How high will Bitcoin go in 2024 & 2025?
When will Bitcoin hit $1 million per coin?
For all the insights into the Bitcoin power law model - you’ll have to check out our full interview here.
We’d highly recommend giving it a full watch.
Dropping a like & subscribe would be hugely appreciated as well! 🫡
P.S. Obligatory disclaimer… (booo!)
Every bull-run, a new Bitcoin pricing model gains huge popularity.
Last time, it was the stock-to-flow model. This time, the Bitcoin power law model.
Always remember, just because a model has predicted the price in the past, doesn’t mean it will continue to do so.
However - they are immensely fun to follow & track.
Always keep in mind the famous line from British statistician, George Box:
“All models are wrong, but some are useful.”
INFLOWS ARE BACK 🏄♂️
Time for our weekly check in on digital asset fund flows. (globally, not just the US ETFs)
Last week there were large inflows totalling $707.8 billion.
This brings year-to-date inflows to $1.576 billion.
And marks a notable shift from the week prior which saw outflows of $499.7 million.
If you’re new around here, or not quite sure what we mean by digital asset investment products, checkout this short article.
Breaking these flows down by asset, Bitcoin stands out.
Last week Bitcoin experienced net inflows of $702.7 million.
That’s 99% of all flows…
Interestingly, Solana outpaced Ethereum last week with inflows of $13.4 million.
As you can expect, the majority of the action was centred on the United States.
Last week, the US saw $720.7 million in inflows.
Compare this value to other countries and it’s not even close…
Although Switzerland still experienced $20.9 million in net inflows.
According to data from Coinshares, the newly launched Bitcoin ETFs have seen $7.7 billion in inflows since launch.
BUT this has been offset by $6 billion in outflows from Grayscale…
The good news is that data suggests that Grayscale outflows have began to slow down.
Onwards & upwards from here on in. 🫡
CRACKING CRYPTO 🥜
Hong Kong sets deadline for crypto exchange licensing applications or face shutdown. Hong Kong has urged unregistered crypto trading platforms within its region to apply for licensing or risk shutdown.
ProShares embraces spot Bitcoin ETF impact on BITO futures. With the entrance of spot Bitcoin ETFs, the futures market is getting better, ProShares global investment strategist Simeon Hyman asserted.
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 order to comply regulations, crypto exchanges must gather specific information about their customers. This process is typically known as: |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: C) KYC 🥳
Know your customer (KYC) is the first stage of anti-money laundering (AML) due diligence. When a financial institution (FI) onboards a new customer, KYC procedures are immediately followed to identify and verify the customer's identity.
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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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