Crypto Tips🔐

As of early July 2024, Bitcoin is trading at approximately $60,804.86. The price has seen a slight decrease of 0.04% in the last hour, a more significant drop of 3.40% over the past 24 hours, and an overall decline of 1.33% in the past week. Currently, Bitcoin's value is 17.59% below its all-time high of $73,780.07​ (CoinDesk)​​ (Coinbase)​.

Several factors are contributing to Bitcoin's current market conditions:

💲Macroeconomic Factors: Global economic uncertainties, such as inflation concerns and interest rate hikes, continue to impact investor sentiment and market stability.

💲Regulatory Developments: Ongoing regulatory actions and discussions in major economies influence Bitcoin's market performance. For example, new regulations or bans can lead to volatility.

💲Market Dynamics: Despite recent price drops, institutional interest remains strong. Notably, large-scale investments and holdings by entities like the State of Wisconsin Investment Board are indicative of sustained institutional confidence in Bitcoin's long-term potential​ (Coinbase)​.

💲Technological Advancements: Continued improvements and updates to Bitcoin's network and associated technologies, such as the Lightning Network, enhance transaction efficiency and network scalability, potentially boosting investor confidence in the future.

stay tuned for new news about crypto currency

🥇 What happens to #Bitcoin when Michael Dell announces he's bought it, he's not ashamed of it and Dell Computers is going to buy more? All models get destroyed 🚀

🟢 Tether has released its 2023 Q4 financial report:

⚫️A record-breaking Q4 net profit of $2.85bn
⚫️2023 yearly net profit of $6.2bn
⚫️Its excess reserves registered an all-time high increase of $2.2bn, totalling $5.4bn
⚫️Cash and cash equivalents cover 90% of all issued tokens
⚫️Achieved new record highs in both direct and indirect ownership of US treasuries, with $80.3bn exposure

📊 Bitcoin Market Movement Summary 📉

- Significant Outflow: Over 28,000 BTC, valued at approximately $1.19 billion, was withdrawn from centralized exchanges in a single day, marking the largest outflow since December 14, 2022.
- Major Exchange Activity: Coinbase alone reported an outflow of over 18,000 BTC, suggesting possible institutional moves, especially with the expected ETF launch in early January.
- Reduced Exchange Holdings: The overall BTC balance on centralized exchanges dropped to about 2,327,025 BTC, the lowest since April 2018, indicating a decrease in supply-side pressure on exchanges.
- Current Price Status: Bitcoin is trading around $42,700, showing a significant increase of 158% on a year-to-date basis.

🔍 Implications: This trend reflects a growing investor preference for long-term holding and taking direct custody of their bitcoins

Bull Market Confirmed 🚨

The first time RSI crosses 70 on the 2-week chart marked the start of the Bull Market in the last 3 cycles.

This just happened for the 4th time in Bitcoin history.

3 services that will help when working with crypto (useful for advanced crypto users)

1. CryptoPanic is a convenient news aggregator. It will help you find the latest news on your requests. Just type in a word or coin, and the service will show all of its latest news.

2. CoinMarketCal is a calendar of cryptocurrency events. With its help, you’ll always know when the most important events are happening.

3. De.Fi is a multifunctional service. It analyzes your wallet: It shows the assets, transactions, and deposits to different pools. Its main feature is Scanner, which lets you check any smart contract and understand how high the probability of scam is.

⚠️🥇 The next decision on a Bitcoin Spot ETF is happening in under 48 hours!

What is a bear hug?

When a company makes an offer to buy a company at a very generous price—clearly above its market valuation—this is a “bear hug.”

Let’s look at an example:

Company A is going through a bad time, and its stock price is falling (a bear hug usually happens during such periods). Company B comes along and publicly, without prior negotiations, makes an extremely generous offer to acquire the company.

What happens next:

Shareholders, who are interested in profits, start pressuring the company’s management to accept the offer (if the company is sold at a high price, its stock will rise).

What’s more, management is legally bound to strive to extract the maximum profit for shareholders, and if they refuse, shareholders can easily take the company to court.

One last step:

If a bear hug works, the acquiring company will replace the management team of the “victim” of the hug.

Does this happen in crypto?

Of course it does!!! One prime example is when Elon Musk bought Twitter (after all, Twitter is an important part of our industry, just like Musk himself).

Musk started buying up Twitter shares in early 2022 and was aiming to become the largest shareholder.

He went on to sign a deal to buy Twitter for $44 billion while promising to improve Twitter’s policies on content moderation, promotion, and transparency.

In October 2022, Musk finalized the deal and became the owner of the company. This move was followed by the firing of top managers and then many other employees.

Typical bear hugs 🐻

📈BTC will reach $45,000 by the end of 2023 - Matrixport analysts.

"The BTC futures funding rate is exorbitantly high, signaling that the market is driven by FOMO. BTC dominance is 52.1% and trading volumes have risen to $29 billion in 24 hours.

Our target for 2023 is $45,000"

BTC will reach $45,000 by the end of the year?

👍- Yes.
👎 - No.

Bitcoin vs. gold: Part 1

You’ve probably heard people refer to Bitcoin as digital gold many times. We’ve decided to create a series of posts explaining why people make that comparison, what BTC has in common with gold, and, most importantly, what advantages it has over the precious metal.

Today, let’s discuss the basic characteristics of these two assets: liquidity and availability.

Gold:

Although gold is widely recognized and traded around the world, it is quite difficult to physically own gold. Bullion needs special storage conditions; it’s hard to transport; gold is easy to counterfeit; and, let’s be honest, you don’t want to keep pieces of the precious metal in your closet.

We’re used to buying gold on the stock market, but obviously, owning a stock and actually owning the metal are far from the same thing.

Bitcoin:

Bitcoin has a definite advantage here: It’s extremely easy to access (anyone with an internet connection can buy it), and it’s easy to store by simply creating a Bitcoin wallet. At the same time, if you store BTC in a wallet, you clearly understand that you own the original asset, not a security, which is just a “representation” of the asset.

Both gold and Bitcoin are liquid: You can buy or sell as much Bitcoin and gold as you want at any time.

Unlike gold, though, Bitcoin has yet to prove its high liquidity over the long haul. It’s only been around for a little over a decade, while gold has been valued by people since antiquity.

Warren Buffett inadvertently invested in Bitcoin (BTC) via Nubank🤷‍♂️

Warren Buffett, who, if you remember, said that Bitcoin was “probably rat poison squared,” made it to the crypto market after all!

In 2021, Buffett’s company, Berkshire Hathaway, invested $750 million in Brazilian bank Nubank, which also allows trading of BTC and other crypto.

Today, the value of the position has grown to $840 million, a figure that has eclipsed other large stakes in Buffett’s portfolio, including such titans as Amazon, Apple, Coca-Cola, Bank of America, and Kraft Heinz.

It’s ironic: Even though Warren hasn’t changed his attitude toward Bitcoin, he has still touched the crypto market, albeit indirectly.

If this continues, we’ll definitely see the world of traditional finance become tightly intertwined with crypto.