Binance: From Prison 🚔 to the Peak 🏔️!

In partnership with

ADVERTISE WITH US NEXT!

Welcome to Bull Market Bytes!

The bullish cryptocurrency newsletter where we deliver analytics, education, news, and a bunch of fun memes…

What more could anyone ask for…

Aside from their favorite meme coin to 1,000X… 😅

Today’s Bullish Topics

🥳 Fun Fact in Crypto

📰 Binance Reaches 200M users!

📊 Bitcoin’s Bullish Analytics

📌 Bull Market Bulletin

📚 What is a “Pump and Dump"?

Fun Fact in Crypto 🥳

I believe that everyone is familiar with an ATM machine…

I would hope so… 😅

But are you familiar with what a Bitcoin ATM is?

If not…this is a physical machine where you can not only buy, but sell Bitcoin directly.

In October of 2013, the first Bitcoin ATM was placed in a coffee shop in downtown Vancouver, Canada.

(This was before it broke the all-time high of $1,000 in December of 2013)

Less than 10 years later after the first Bitcoin ATM, in December of 2022 we reached a peak!

The peak was 39,548 Bitcoin ATMs worldwide! 🤯

Bitcoin ATMs Expansion Worldwide

Binance Reaches 200M Users! 📰

Binance, the world’s largest cryptocurrency exchange in the world by daily volume, has reached 200 million global users!

This is a phenomenal achievement, as that is over 30% of the worldwide population of cryptocurrency users…

It is estimated that there are 560 million users worldwide!

As some may already know, the former CEO Changpeng Zhao was sentenced to prison for 4 months…

What exactly was the reason? 🤔

He pleaded guilty to violating money laundering and the Bank Secrecy Act.

Shortly after this, he stepped down from Binance as the CEO…however, that doesn’t mean that his holdings went down…

Even though Binance has been through a lot in the recent months, they continue to thrive…

Hopefully the upcoming months are filled with more milestones by this top cryptocurrency exchange.

But as always…only time will tell… ⏰

Bitcoin’s Bullish Analytics 📊

So, let’s take a look at how Bitcoin is doing…

And we aren’t doing just any analysis, we are taking a look at the “Moment of Truth”.

For those that may have missed it in our previous newsletter, this is the deciding day-ish of Bitcoin movement…

Either it is going up or it is going down… 😅

Without further ado, let’s take a look at the image below. 👀

With keeping the image simple, we have the red line, which is the resistance and the green line, which is the support.

📈 Support = Keeps the price up
📉 Resistance = Keeps the price down

So, what exactly is the blue circle? 🤔

That is not only the current candlestick, but the area that has broken one of the support lines…

Thankfully, we have another support line, but it is approaching it…with could raise some red flags. 🚩

When looking at charts and trying to decipher if it is bearish or bullish, there is a key to make sure all of the bases are covered…

What is the family secret? 🤷‍♂️

Well, today is your lucky day as we will tell you…but before we do…

📢 We interrupt this broadcast for an important message from…

…today’s sponsor! ⭐

Special thank you to Betterment for partnering with us for today’s newsletter! 🙏

The “family secret” is to look at different timeframes.

Each candlestick in the image above covers a period of a week, but there are many different timeframes someone could look at…

For example, day traders would look at more minute and 5-minute candlesticks while a long-term investor may look at days, weeks, months, or even years! 😲

So, let’s take a look at the image below which shows us candlesticks that cover a 24-hour period… 👀

If it wasn’t clear in the first chart…we can definitely see a drop with Bitcoin’s price…

About a $3,000 drop in one candlestick! 😬

But there is no reason to fear…this is Bull Market Bytes; where we can always find a bullish take on Bitcoin. 😎

With pullbacks (red candlesticks), consolidation is not a bad thing…it is a necessary thing.

As we approach the “Moment of Truth”, even if Bitcoin does dip below the support line, it may only be for a short period.

Also, keep in mind, after the 2017 and 2021 bull runs, we saw massive selloffs shortly afterwards… 👀

Bitcoin is continuing to consolidate around the all-time high of around $70,000…

So…in short, we are gearing up for another bull run! 🚀

🧠 Don’t forget! Just like stocks, crypto goes up and down…but normally more drastically.

Don’t mistake a healthy pullback for a sell-off. Panic selling never helped anyone…or their bank accounts. 😂

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!

Baby Boomers Hold the Key to Wealth in Crypto. The “Baby Boomer” generation accounts for $68 trillion in assets in the United States alone…Imagine a piece of that in crypto! 💰

DeFI Exploited with $20 Million Loss! UwU Lend Protocol, a decentralized finance protocol that functions as a liquidity market, was exploited which amounted to over $20 million is stolen funds.

If You Missed It…Trump Promises to Become the “Crypto President”! At a recent fundraising event, Trump stated that he will be the crypto president…Read our latest newsletter here to learn more!

Overall Cryptocurrency Inflows Hit $2 billion in June! Even though historically June may not be the most positive for cryptocurrency, we are starting on the right foot.

Pump and Dump 📚

No matter if it is the stock market or cryptocurrency, a Pump and Dump can easily occur.

Some may be familiar with this, but if you aren’t, let’s explain what exactly this is.

⭐ A Pump and Dump is a trading movement of extreme intensity that normally results in massive gains and losses.

Why does it result in both? 🤔

Because unfortunately when the price is going up exponentially, someone is buying it at the inflated price. 😔

It is the same when Bitcoin went up to $20,000 in 2018 and then down to $3,200…someone bought at $20,000…

Bitcoin finally went back up to $20,000…but in a Pump and Dump that is not always the case…

Let’s take a look at the image below. 👀

There are a few variables that we will need to cover…

So, what does it mean as a stock/crypto with low liquidity? 🤷‍♂️

It could be 2 things:

1. There is low volume, so a surge of volume is going to spike interest for a quick movement.

2. There is low liquidity/money in the market so even a small buy of $5 could spike the price exponentially.

When we reach the overextended green candle, that is the peak of the FOMO (Fear of Missing Out) … 😱

This is where people will be entering in at inflated prices…never fun for the buyer…a lot of fun for the seller…

The overextended red candle is profit taking and a mixture of panic selling…

The panic selling is where “buyer’s remorse” comes in, where people know this was not a good investment. 👎

In the overall formation, we see that at the end it returns to the original price/state…

So, why does a Pump and Dump occur? 🤔

Essentially, it is to over inflate the price so they can get others on board and sell into their buy orders…

This movement is known for being highly manipulative…

There are many Pump and Dump groups that will target a crypto/stock…

They will buy low in a very large quantity, and sell when others join in…

It is morally grey because they buy the crypto/stock with no intentions of being a long-term holder and are taking advantage of other investors.

🧠 Remember! Before making ANY investment, thoroughly research the asset and do not be swayed by outside influences!

Bullish Lesson Review Question

📚 Make sure to review the lesson above before answering!

Question: What is a Pump and Dump?

Your feedback is very important to us! ❤️