🚀 Bitcoin Soars to $63K! Ride the Wave or Time to Sell? 🌊

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Welcome back to Bull Market Bytes, your weekly cryptocurrency insight where we are now packaging and sending our newsletter directly to your inbox not only on Saturday’s but also on Tuesday’s! 📫

Be on the lookout! 👀

Exciting topics for this week!

📰 Bitcoin Rocks the Market!

🏆 Bitcoin ETFs Set a Record!

📌 Weekly Bulletin Bytes

📈 Kaspa Analysis and Forecast

📚 Weekly Lesson: Overextension

🤓 Fun Fact of the Week 💡

Whale watching is a big thing in crypto! 🐋

No, not the mammal… (yes, whales are mammals) …crypto whales!

Crypto whales own around 1% to 10% of a total cryptocurrency’s supply and have a lot of control over the price.

Interested in going whale watching? 👇

Watch Big Crypto Moves in Real-Time!

Bitcoin Rocks the Market! 🔥

What a wild week this has been! 👀

At this time of writing this, Bitcoin is up 21.74% this week and 46.74% in just two months!

Bitcoin is absolutely dominating, and it is beautiful to watch 😊

There are many factors that come into play:

Bitcoin Halving is Coming Soon
Bitcoin ETFs are Setting Records
FOMO is a HECK of a Force! 🔥

Check out the price action below! What a wild move! 👇

These candlesticks above cover a month of time. To the left of the current candlestick, we see a huge green candlestick that pushed through resistance without hesitation.

We will cover more of overextension in this week’s education lesson.

Click here to learn all about it! 📚

As we move forward, keep an eye on the “Support 1” line in the chart above.

Since we had such a strong move, people will take profits and sell. 👎

This may ultimately cause that support line to break around May of this year.

🧠 Keep in mind! The blue lines above have not been altered for months! This is why we teach the importance of charting! 😎

Click here to view our previous newsletter lesson on charting!

The Bull Market is Here 🎉

According to the analytics below, the bull market has officially arrived and is here to stay for a while!

The pattern follows as:

1 Accumulation
2 Bull Market
3 Distribution
4 Bear Market

Why is Bull Market “red” and Bear Market “green” when bulls make the market green, and bears make it red? 🤔

Amazing question and I am just as confused as you are. 😂

Ultimately, it is projected that we will see 8-10 months of bull market behavior! Downside, this is combined with multiple -30% drops. 😬

Bitcoin Holds Top Ten! 💎

Bitcoin’s market capitalization continues to rise and is in the top 10 of global assets!

At the time of writing this, Bitcoin is about to pass Meta Platforms and even silver! 🤯

If Bitcoin continues to grow in price and does reach $125,000 during the next bull run, it could easily be in the top 5!

🧠 Think about this! If Bitcoin had the market cap of Gold at $14.045 trillion, Bitcoin would be $715,537! 😲

Do you think Bitcoin will achieve this?

Bitcoin ETFs Set a Record 🏆

Spot Bitcoin ETFs are selling like hot cakes…or whatever sells non-stop…

…Spot Bitcoin ETFs are selling like spot Bitcoin ETFs 😂

It is amazing that the overall Bitcoin ETF trading volume reached $7.69 billion! 🚀

Check out the breakdown by each ETF shown below!

This success paves the way for future cryptocurrencies to be in the spotlight!

The spot Ethereum ETFs have a date for the 23rd of May to potentially be approved, and Litecoin could be next.

It is possible that the Litecoin Trust ($LTCN) could be converted into an ETF. This Trust is already up 273.48% in 12 months!

Weekly Bulletin Bytes

BlackRock’s Bitcoin ETF Breaks Volume Record! BlackRock’s Bitcoin ETF (IBIT) has broken its volume record for the third consecutive day at 96 million shares worth roughly $3.3 billion!

BlackRock’s Bitcoin ETF Starts Trading in Brazil! There is a lot of hype around BlackRock right now. Their ETF “IBIT” is by far the most successful of the spot Bitcoin ETFs. Is anyone up to the challenge to pass them?

Coinbase Glitch Occurs During Bitcoin Rally! Image going to sell your Bitcoin when it is skyrocketing and your balance shows $0…

Decentralized Finance Exploits Cause $82 Million in Losses! A large amount of this was from a Play-to-Earn game, that alone caused $32.3 million in losses.

Gemini Crypto Exchange to Return $1.1 Billion to Consumers! Founded by the Winklevoss twins, who are early Bitcoin adopters and the founders of the Gemini Trust Company, are ordered to return funds to investors in their defunct loan program.

Is Bitcoin Becoming Due for a Pullback? JPMorgan predicts that Bitcoin will drop to $42,000 after the Bitcoin reward halving in April. Is this far-fetched or is a correction needed for Bitcoin to continue going up?

Kaspa Analysis and Forecast

Kaspa is an absolute powerhouse of a project! Since it’s inception, it has increased by 92,438.54%! 🚀

Kaspa is currently in the top 35 on CoinMarketCap, but has potential to move much higher!

Check them out to learn more! 👇

Kaspa: The Fastest Layer-1 in the World

🧠 Remember! This is only a projection, this is not the exact numbers that we saw in our crystal ball, I mean in the conducted analysis. 😅

⚠️ This is NOT a call to action! The potential high price stated above is subject to change based on outside variables.

Market Overextension 📚

It is that time of the week again! 🎉

Grab your thinking hats and notebooks as we dive into this week’s lesson of market overextension! 🤠

So, what exactly is market overextension and why should I care? 🤔

Market overextension is when the price increases or decreases drastically normally in a short period of time.

Let’s take a look below! 👀

With each bull run, there is a drastic upward momentum that is followed by a downward momentum.

So, why exactly does this occur? 🤷‍♂️

The market is made up of two sides: buyers and sellers…or better known as, bulls and bears…

When we take a look at the upward momentum, we have people that are buying, and the downward momentum is the people selling.

Let’s discuss something that may be new to some…short sellers!

Short sellers contribute to the buying and selling momentum, but they do it in a unique way. 🤔

When a short seller takes a position (or begins a trade), they are selling the asset first and then to exit the position (end the trade) they have to buy it.

⭐ It is opposite because short sellers will sell first and then buy last.

The scary thing with this is when we see downward momentum, it is not only people selling their asset to make a profit, but it is short sellers beginning their position.

How exactly do short sellers make money on the trade? 💰

By riding the price down and then buying back when it reaches a much lower price. Ultimately, the same as a traditional trade but in reverse.

🧠 Remember: This technique of “short selling” is used when people believe the price will decrease so they can profit from the downward momentum.

Ready for your lesson review?

📚 Make sure to review the lesson above before answering!

Question: What makes a short seller unique?