Bitcoin's Climb to All-Time Highs Begins!

Welcome back to Bull Market Bytes, your weekly cryptocurrency insight where we prepare our portfolios and suit up for our upcoming lift off to the moon! 🌙

Can you drive a Lamborghini on the moon, you ask? 🤔

Amazing question but before we find out the answer, let’s break down some very important topics for this week.

Select one if you would like to skip ahead!

💰🚀 Bitcoin Surge Incoming

🗳️📊 Interactive Prediction Poll

📈🔍 Shiba Inu Price Forecasting

📚✏️ Trading Psychology & Strategies

🤓💡 Interesting Fact of the Week: The first transaction that gave Bitcoin monetary value was in October of 2009 by Finnish computer science student Martti Malmi.

He sold 5,050 Bitcoin for $5.02 giving the value of 1 bitcoin equivalent to $.0009 each!

5,050 Bitcoin is valued today at $219,555,113! 😱

Bitcoin Surge Incoming

Ah, yes, my precious!

We journeyed through the dark lands of Middle Earth, avoiding the nasty Eye of Sauron, but we found it, we did! 🥳

The chart below, so clever, gives us a precious insight into what the shiny Bitcoin will do next, yesss. We must be very watchful, very watchful indeed! 👀

🤦‍♂️ Binge watching the Lord of the Rings may have not been the best move. Apologies. With that out of the way back to what we were speaking over.

Ah, yes. Bitcoin. That’s right! 😃

So, what exactly does the chart above mean? There are a bunch of lines pointing in every direction and that doesn’t tell me the future of Bitcoin.

Or does it… 🤔

The lines labeled as “Resistance” are points that may cause Bitcoin difficulty to increase above them.

The lines labeled as “Support” are points that should create a boundary for Bitcoin to continue higher in price.

What exactly do the small red rectangles mean? 🙋‍♂️ 

The rectangles highlight points to key times that Bitcoin could break the resistance to a higher price.

For the middle rectangle, that signifies that Bitcoin could be easily valued at $50,000 by March of 2024! 😲

With that said, if it does continue the path, Bitcoin will reach a new all-time high by August of 2024! 💰

The red rectangle further to the right signifies that Bitcoin could cross into $50,000 by August of 2025.

Ultimately, there are two paths. 🧐

Path 1: Bitcoin continues along “Support 1” in the chart above and breaks the all-time high price by August of 2024.

Path 2: Bitcoin continues along “Support 2” in the chart above and breaks the all-time high at the end of 2025.

⚠️ Spoiler alert! There is a third path!

Path 3: Bitcoin does not continue with “Support 1” but instead creates a third support which leads it to the next all-time high at a much later time.

I know, there are a lot of variables. 😅

Overall, charting is very important as it breaks down the psychology of what traders are looking at for entry and exit points.

What is your Guess?

Everyone, get your crystal ball out! 🔮

We are seeing more hype over Bitcoin and the future of cryptocurrency.

What could this mean? 🤔

Will Bitcoin break the all-time high of $69,080.70?

And if so…

When will it happen? 🤷‍♂️

Let us know what you think below!

Shiba Inu Price Forecast

Shiba Inu has left its mark on the cryptocurrency world! During its peak in 2021, it was generating over $8 billion in 24-hour market volume! 😲

Based on the numbers, Shiba Inu has a lot of potential and their strong community base definitely helps!

Also, according to their blockchain scan, they have burned over 41% of their total supply which is 410,394,954,276,066 tokens! 🔥

Continuing to burn tokens is a positive in investors eyes as it lowers the circulating supply.

With our analysis, the potential price on the low-end to occur during 2024-2025 is $.00004840 and the high-end is $.00007500. 📈

The high-end may raise based on outside factors.

For educational purposes, not financial advice! 👍

Trading Psychology

Buying and selling cryptocurrency can be rewarding but can also be intimidating and stressful. 😅

I wish I knew what to look for…

No need to fear, we are here! 🦸‍♂️

Feel free to enter your own heroic catchphrase above. 😂

Before diving into future lessons over trading formations, etc., we need to know what other people are thinking…🧠

This lesson is going to take you to the next level. Get ready!

📝 Pen and paper? Check!

🤠 Thinking caps? Check!

🔮 Crystal ball? No, currently sold out! 😬

When it comes to trading cryptocurrencies, it is similar to playing cards. 🃏

You are not playing against the cards; you are playing against the players that are holding the cards.

You must read the other person and anticipate their next move to plan accordingly. Knowing their next move is going to put you at a great advantage!

You must do this to be successful! 🏆

The market is an exchange of money. When you make money, someone else is going to lose money.

If a cryptocurrency is up 200%, we know that a majority of people may sell that bought before the move occurred.

⚠️ Spoiler alert! They need someone to buy it from them in the market.

When they sell, it causes “selling pressure” in the market and if the selling pressure outweighs the buying pressure, the cryptocurrency will decrease in value.

You never want to put yourself in a position where you are the only person buying and the cryptocurrency tanks after you do. 📉

Cryptocurrency is all about thinking outside of the box and not taking what everyone else says as reality.

🌟 Remember! Just because someone says that a cryptocurrency is worthless doesn’t mean that is what they truly think.

They may be saying that, so you sell, and they receive a cheaper price when they buy or they may even be clueless. 🤷‍♂️

For a sneak-peek into this week’s “Byte of Education” Elite Edition, there are multiple reasons for buying pressure to occur.

📉 Closing a short position

😬 FOMO (Fear Of Missing Out)

💰 Lowering an average (long position)

📰 News & media

💯 Want to take your education to the next level? Become an Elite Edition member today for 25% off of your first month and receive a deep dive into every week’s Byte of Education lesson!

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