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Welcome back to Bull Market Bytes, your weekly cryptocurrency insight where we deliver crypto analytics to your inbox…

Not only once a week, but now twice a week! 😎

Exciting topics for this week!

🥳 Fun Fact in Crypto

📰 Elon Musk Advises Trump

📊 Bitcoin Price Analytics

📌 Bull Market Bulletin

📚 Bid, Ask & Slippage

Fun Fact in Crypto 🥳

Bitcoin is a very scarce asset, and is becoming more scarce and more valuable by the day…so the question is…

Could everyone in the world own a portion of Bitcoin?

Well…grab your calculator and let’s do the math together! 🧮

The estimated world population is 8.1 billion people and counting…

The maximum number of Bitcoin that we will ever see is 21 million.

Assuming that no Bitcoin has been lost over the years…

Which it definitely has been… 😂

Each person in the world could own…

🥁 Drum roll, please…

.00259 Bitcoin! That is about $176.12 a person…or in other words…a large #1 with extra cheese at McDonalds. 🤣

Elon Musk Advises Trump 📰

When we think of cryptocurrency…what are two words that come to mind?

No, not panic sell… 🤣

The two words that come to mind are Elon Musk!

With the last bull run, he incorporated a lot of his influence into one cryptocurrency…which maybe was the last expected one…

Dogecoin…and lucky for everyone is crypto…that launched the whole “dog coin era” which we all have to deal with. 🤦‍♂️

ANYWAYS…his antics did make Dogecoin rocket 29,000%. 🚀

Now…to the point…imagine merging Elon Musk and another big name, Donald Trump…

We could either get Elon Trump or Donald Musk…either one sounds fine. 😂

Enough with the jokes…there is much speculation right now that Elon Musk is advising former President Trump.

Not on any random topic…but cryptocurrency! 🤯

Fair enough…Elon Musk has denied this…but what if…

There are even rumors speculating that Elon Musk may become a cryptocurrency advisor if Donald Trump is reelected…

Yes, very high in speculation, but Elon has been very friendly with crypto and Trump understands that the crypto vote…

That ultimately may be his saving grace.

Bitcoin Price Analytics 📊

Well…it is hard to believe that we are halfway through 2024…

It feels like yesterday we were waiting for Bitcoin to break the all-time high…

Actually, I suppose that is everyday… 😅

Back to what we were saying…welcome to June!

So…what does this month have in store for us…we have talks about the spot Ethereum ETF launching this month…potentially…

(Whispers)…click here to read more about that… 👍

We have another month to speculate the price of Bitcoin. 😂

But the best way to gauge what may occur this month is to look at the track record of how Bitcoin has performed in the past…

Let’s take a look below. 👀

Above, we have a breakdown of every month for how Bitcoin has performed…and that is since the year 2013!

And then below, we have how Bitcoin has performed in the month of June since 2013…

Just looking at the history of what has occurred in June, we see that every green month….

Is in the double digits…Well, except one from 10 years ago. 😅

On the other side, we see very high negatives, including -37.28% from two years ago.

Historically, Bitcoin has not been doing very well in June since the year 2020.

Also, another thing to keep in mind is…hold that thought for one second…

📢 We interrupt this broadcast for an important message from…

…today’s sponsor! ⭐

Special thank you to Gamma for sponsoring ttoday’s newsletter! 🙏

Now, back to what is important to keep in mind…VOLUME!

As shown below, this month is showing spikes in volume after we kept seeing a downward trend of volume.

🧠 Don’t forget! Volume is both buys and sells that take place!

Just because volume is increasing doesn’t necessarily mean that it is all buying pressure, it could be a massive sell-off.

Below, we are showing how May is showing spikes in volume overall.

Could increases in volume show that people are buying Bitcoin before it rockets? 🚀

Or…could it be selling pressure that will continue?

As always…only time will tell. ⏰

Bull Market Bulletin 📌

BULLSEYE TRADES: Want to receive the top stock market alerts directly to your e-mail? Subscribe today to follow along with top traders in the market!

BlackRock’s Bitcoin ETF is the Largest Spot Bitcoin Product! Since its listing earlier this year, BlackRock’s iShares Bitcoin Trust has accumulated nearly $20 billion in total assets! 💰

Ethereum ETF’s Launching Sooner than Expected? BlackRock updated its Form S-1 for its iShares Ethereum Trust, the second document needed for the Ethereum ETFs to be trading.

Ready for More NFTs?! This soccer legend is now working with Binance to launch a NFT collection commemorating different stage of his career. ⚽

A Banker Sentenced for Crypto Fraud? A former investment banker was sentenced in Eastern New York District Court in Brooklyn for a wire fraud.

Bid, Ask & Slippage 📚

Welcome back! For today, we will be covering more into 3 very important trading variables.

Why are they important, you may ask? 🤔

Because, if you do not understand these principles, a trade that you should profit on, well…

You won’t! 😬

So, let’s break down the three important variables…

Bid: The price that buyers are buying at.
Ask: The price that sellers are selling at.
🌟 Slippage: Difference between the expected trade exit price and the actual exit price…EEK!

Another term that we will cover is the spread. The spread is the amount between the Bid and the Ask.

For example: If the Bid is 1.05 and the Ask is 1.15, then the spread would be .10.

Why is this important? 🤷‍♂️

Because when buying an asset, sometimes we don’t wait to buy on the “Bid” side.

Instead, we buy on the Ask side…reason for this…” insta-fill” …

Just made up that word, but it works… 🤣

It just means that you are buying higher than other buyers are willing to, so you will get the asset immediately, but the downside…

You are buying the asset at a higher price! 😅

This type of “order” or buy is called a “market order”.

So…slippage…why is this such a big deal? 🤔

Well…imagine you buy a Pokémon card for $2 and then you go to sell it for $5, but you only get $2.50… 😯

Your expected sell price was cut in half…never a fun thing!

This primarily occurs when there are not enough buyers at the price you would like to sell at…for example…

You have 10 Taylor Swift albums, and you want to sell them for $1 each. Well…

Let’s just act like people are buying them… 😂 Just kidding-ish…

Only 5 people will buy at $1, next 2 people will buy at 95 cents, and then 3 will buy at 50 cents.

Instead of selling them for $10, you had SLIPPAGE…and only received $8.40.

🧠 Remember! There are many strategies and lessons to learn in the trading realm…take it slow, do your own research, and only make a trade when you can explain for 10 minutes straight afterwards why you did! 😎

Ready for your Lesson Review?

📚 Make sure to review the lesson above before answering!

Question: What is the slippage when trading?

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