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Welcome back to Bull Market Bytes, your weekly cryptocurrency insight where we play the “waiting game” until Bitcoin breaks the $100,000…

Not my favorite game by any means… 😂

Exciting topics for this week!

🥳 Fun Fact in Crypto

📰 US President Vetos Crypto Bill

📊 Crypto Market Analytics

📌 Bull Market Bulletin

📚 Definition: Bull/Bear Market

Fun Fact in Crypto 🥳

So…we don’t know who?…whom??… 😅

(Clears throat) …We don’t know the people or person that created Bitcoin…

But what about the second cryptocurrency to exist…

Litecoin!

Created by Charlie Lee, Litecoin was developed as a compliment to Bitcoin…

As Charlie says, Litecoin is” silver to Bitcoin’s gold”.

To go more into Charlie’s path to ultimately developing Litecoin…

After graduating from MIT, Charlie worked at Google for six years as a Software Engineer where he worked on multiple iconic products…

Chrome OS, Play Games, YouTube Mobile, and many more!

In 2013, two years after the release of Litecoin, he left Google and accepted another role…

He became the Director of Engineering at Coinbase, which is a company worth upwards of $60 billion today!

Today, Charlie Lee is the director of the Litecoin Foundation, where he promotes awareness and Litecoin’s adoption.

Litecoin Summit 2024 Coming Soon!

President Vetos Crypto Bill 📰

Let’s begin this news article with a quote by Gandhi…” you must be the change you wish to see in the world”.

A great quote…does it fit into this article?

Potentially…not sure yet but it is definitely a great quote. 😂

So, as we all know the US presidential election is coming up and things are getting more and more “interesting” …to say the least…

It has recently come out that President Biden has vetoed a pro-crypto bill that would regulate custody of Bitcoin. 🤦‍♂️

The most interesting part of this is that candidates going into an election normally try to sway away from major decisions…

Especially when the decision is negatively impacting the 93 million Americans that own cryptocurrency!

People are calling to action that the American people need a leader that is going to adopt cryptocurrency…and make it moon, of course! 🚀 

Overall, it shows that regulation is that next big step for integration of cryptocurrency.

Will Bitcoin ever break $100,000? Will a Litecoin ETF be approved next?

Will I ever be able to move out of my mom’s basement? 😅

…only time will tell. ⏰

Crypto Market Analytics 📊

Definitely some interesting analytics for today…

Why do we say that? 🤔

Because this shows that the actual bull market run, we have been waiting for…

Well…it has not yet happened. 😮

And thank goodness…I need it to moon so I can pay off my Taylor Swift concert tickets I bought on credit. 🤣

That aside, Bitcoin broke its previous all-time high on the 14th of March this year…

This occurred shortly after the approval of the spot Bitcoin ETFs, which were a huge step forward for institutional integration.

However (Comma)…we did not see the same momentum as we did with the bull run that occurred in 2021.

So, what exactly does this mean? ‍🤷‍♂️

Let’s take a look at the overall market cap for the cryptocurrency industry and see if there is anything interesting to point out… 🔍

The image above shows the overall market capitalization (market cap) for the cryptocurrency industry.

We easily see the spike for the bull run in 2017-2018 along with 2021-2022…

…but what about the spike in 2024? 👀

It is interesting to see that when Bitcoin broke its all-time high…it didn’t take the market with it like the other breaks…

Let’s take a look at another one, but without Bitcoin’s market cap included…

Interesting, interesting…I haven’t been this surprised since I found out that birds were actually flying spy drones. 🤣

…there must be something going on, how come they can sit on powerlines but when I try, I look like the slim Jim guy? Do not attempt at home!

Back to what we were saying…the image above shows the overall market cap, but without Bitcoin’s market cap included.

We see the spike in 2017-2018 and 2021-2022…but again…no break to a higher number in 2024…

…so, does that mean…there is more to expect this bull run? 🤯

Well…before we get to that point…

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Now, let’s take a look at another image.

The image above is the overall market cap for only Bitcoin…

Do you spot the difference? 🔍

When Bitcoin broke its all-time high, it also reached a new market cap all-time high…

Granted, they do go hand in hand as Bitcoin’s supply has also increased since its previous all-time high.

So…what are we trying to get at with all of this?

The actual bull run has not happened yet! 😮

A bull run has occurred, and we are in the bull market…

But there is so much more to come!

Technically! We went from an overall market cap of $755 billion in 2017 to $2.92 trillion in 2021…mathematically, the next market cap in 2024-2025 would be…

Let me grab my pen and paper really quick… ✏️

🚀 $11.27 trillion!

With Bitcoin dominance in the overall cryptocurrency market being around 52%, that means Bitcoin would be… $297,350!

⚠️ Remember! This is solely going off of the numbers and the multiples based on past market performance…not a call to action!

It seems like very far-fetched numbers, but when Bitcoin was 1 penny, no one thought it would be $70,000 one day…

That is a 700,000,000% increase! 🚀

Overall…strap on your seatbelt…there is so much more to expect from this bull run! 💰

🧠 Don’t forget! Cryptocurrency is still a young industry…you are still early to join in on the innovation and be part of an amazing movement!

Bull Market Bulletin 📌

BIG DESK ENERGY! Looking for chill vibes in a newsletter? Subscribe to Big Desk Energy to receive start-up insight, stories, and more to your inbox every Tuesday!

All Unlicensed Crypto Exchanges in Hong Kong are Banned! Thankfully to the exchanges, the cost to be licensed is no longer tens of millions of dollars and are only several millions now…that’s cheap, right? 😬

Roaring Kitty Set to Become a Gamestop Billionaire? Roaring Kitty AKA Keith Gill AKA I’m sorry, who? 😂 … is currently up $300 million is his Gamestop stock position…yep, Gamestop is happening again. 🙄

This Country is Joining the Spot Bitcoin ETF Craze! This country’s spot Bitcoin ETF is set to launch tomorrow! Check it out here!

Bloomberg Analyst Says Ethereum ETF was Solely Political. If this is true, it goes to show you that the manipulation in the market will never end. Now that crypto is becoming centralized, is this good or bad? 🤔

Bull-Bear Market 📚

We hear it all the time…the bull market is coming, or the bear market is here, I knew I should have sold. 🤣

But what dictates a bull or bear market? ‍🤷‍♂️

Great question! Let’s dive in to find out!

So, let’s break down the exact definition for a bull market and bear market…

🐂 Bull Market - 20% or more growth above recent lows along with general economic optimism and increased demand.

🐻 Bear Market - 20% or more decline below recent lows along with general economic pessimism and decreased demand.

📖 For example: The all-time high of Bitcoin (according to CoinMarketCap) is $73,750.07. If we take a 20% dive, we will be at $59,000.06.

At that point, we would be within a bear market. We are currently in a bull market… (knock on wood 👊🚪) 😅

🚨 Let’s go through some of the key indicators for a bull market.

🌟 Market Sentiment - This is the overall attitude towards cryptocurrency (the asset). Institutional adoption and positive news attract more investors.

Price Trend - Sustained healthy upward movement. Overexaggerated movement is bullish but can end up with entry into a bear market.

Trading Volume - Increased trading volume normally indicates higher interest however sell pressure also increases trade volume.

🚨 Let’s go through some of the key indicators for a bear market.

Declining Economy and Instability - High unemployment rates and a declining overall economy (GDP).

Negative Market Sentiment - We see this over and over again in cryptocurrency…FUD (Fear, Uncertainty, and Doubt). 👎

Unstable Interest Rates - Moreso for the stock market…cryptocurrency thrives on inflation gains…why? Because it shows how useless fiat currency is. 👀

🧠 Remember! There are different investment strategies for the bear and bull markets. Become an elite member today to view our member’s only segment!

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