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- 🥜 You won't believe this bullish Bitcoin signal...
🥜 You won't believe this bullish Bitcoin signal...
PLUS: Bitcoin Breaking ATH's
GM to all 13,874 of you. Crypto Nutshell #109 peelin’ back the layers. 🍌🥜
We’re the crypto newsletter that’s more refreshing than a visit to a dinosaur theme park... 🦖🌴
Today, we’ll be going over:
🤑 The Jim Cramer signal
🚀 Why this genius loves Bitcoin
⛏️ Miners going all in
🤑 And more…
MARKET WATCH ⚖️
Prices as at 5;50am ET
Only the top 20 coins measured by market cap feature in this section
THE JIM CRAMER SIGNAL 🤑
BREAKING: Jim Cramer is Bearish on Bitcoin, Bottom’s in
Yesterday on CNBC Jim Cramer made the following comment:
“A lot of the people who watch us are searching for ways not to lose money but to make money. I can’t go out with gold cause gold is not good. I can’t go out with Bitcoin because…Mr. Bitcoin is about to go down big,”
Now if you have no idea who the hell Jim Cramer is or why this statement matters let us explain.
Jim Cramer’s investment advice has become a bit of a meme…
In fact the meme gained so much traction that there’s an investment fund known as the Inverse Cramer ETF. It’s operates by making the complete opposite trades that Cramer recommends.
If Cramer recommends a stock, the inverse Cramer ETF will short that stock.
Back in January, Cramer warned investors to get out of Bitcoin.
The price of Bitcoin was ~$17,000 back in January…
Since then Bitcoin has increased by $10,000 to ~$27,000….
Cramer literally signalled Bitcoin’s bottom.
Has he done it again? Is Bitcoin about to pump?
Only time well tell. ⏰
Congrats Bitcoin bulls
— Not Jim Cramer (@CramerTracker)
7:44 PM • Oct 10, 2023
JUST IN - Jim Cramer on CNBC: "#Bitcoin is about to go down big."
Bottom's in 🚀
— Bitcoin Magazine (@BitcoinMagazine)
7:56 PM • Oct 10, 2023
BREAKING NEWS : @jimcramer says, “Mr #Bitcoin is a about to go down big.”
Wagmi.
— Jason A. Williams (@GoingParabolic)
6:48 PM • Oct 10, 2023
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WHY THIS GENIUS LOVES BITCOIN ❤️
Quiz time.
Which company is both the largest in the world and also has had the biggest impact on humanity?
There’s a good chance you’re reading this on one of their devices…
If you answered: Apple, you’d be correct. 🍎
But did you know the founder of Apple is a Bitcoin guy?
You’ve most likely heard of the visionary founder of Apple, Steve Jobs.
Lesser known is that Steve Jobs was only one of the founders of Apple. His co-founder, Steve Wozniak, was key in the development and engineering of early Apple computers.
Wozniak knows innovation when he see’s it. Over the last week a clip of Wozniak has been doing the rounds on twitter.
Why?
Bitcoin.
The clip is from a 2022 podcast with Steve-O from Jackass.
Throughout the conversation, the topic of crypto comes up. Here’s what Wozniak had to say:
“The number of people getting ripped off on crypto and NFT’s is just outrageous. Now Bitcoin is safe because it's the big elephant on the block. It's stable.”
Wozniak isn’t a fan of NFT’s or crypto generally. But he does see the innovation of Bitcoin.
What’s more is that Wozniak doesn’t invest at all. He doesn’t read any financial news and isn’t in the stock market. His one exception? Bitcoin.
“I don't read any financial papers. I don't want that to affect my life. So I never invested in stocks. Bitcoin? I bought a bunch of bitcoin at the start.”
Finally, Wozniak gave a prediction for the Bitcoin price.
“I think Bitcoin is gonna go to $100,000. You know, I don't know where you get that feeling. I can't put any mathematics to it. I just really feel it from all of the interest in crypto. It’s so high.”
It’s a good sign when one of the greatest engineers & designers of our generation, known for his innovation, is a believer in Bitcoin. 😎
MINERS GOING ALL IN ⛏️
Bitcoin’s hash rate continues to break all-time highs.
Hash rate is perhaps Bitcoin’s most critical metric. It measures the total computational power committed to supporting the Bitcoin network.
A higher hash rate means a more robust and secure network. There's two ways the hash rate can increase:
New miners join the network
Existing miners upgrade to more efficient hardware
BUT a higher hash rate can also mean increased competition between miners. And increased competition can also mean increased power consumption.
Taking a look at the chart above, the hash rate has been steadily increasing since July 2021. From 100 Eh/s all the way to 435 Eh/s as of today.
That’s an increase of over 4x… 📈
Safe to say miners aren’t struggling when it comes to profitability.
The US now contributes ~40% to Bitcoin’s hash rate
Where’s all this increased computing power coming from?
Massive Bitcoin mining companies have been upgrading their facilities over the last quarter. The most notable increases being:
Bitdeer: increased realized hash rate by 120%
CleanSpark: increased realized hash rate by 43%
Marathon Digital: increased realized hash rate by 38%
Bottom Line: An increasing hash rate is super bullish for Bitcoin. Even with “boring” price action, Miners are expanding their operations. A clear sign of their confidence in Bitcoin’s future.
A strong hash rate ensures a secure blockchain. 😎
CRACKING CRYPTO 🥜
WHAT WE’RE READING ✍️
Want to get even smarter? Check these out.
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CAN YOU CRACK THIS NUT? ✍️
What was the lowest price Bitcoin reached in November 2022?
A) ~$15,800
B) ~$17,800
C) ~$13,800
D) ~$20,800
Find out the answer at the bottom of “Meme Corner” below 😀
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: A) ~$15,800 🥳
Following the collapse of FTX, Bitcoin crashed down to ~$15,800
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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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