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Welcome to Bull Market Bytes!

Your byte of cryptocurrency insight where we look into our crystal ball and see what the future of crypto holds… 🔮

Results may vary... 🤣

Let’s Explore Today’s Highlights

🥳 Fun Fact: $2.3T Crypto Market Cap

📊 Market Breakdown: July looks promising!

📌 Bull Market Bulletin: News Insight

📚 Trading Strategies: Position Trading

Fun Fact in Crypto 🥳

The overall cryptocurrency market cap has grown exponentially over the years!

Exactly 2 years ago, the overall market cap was around $870 billion dollars…

Now, we are at $2.31 trillion! 🤯

To put that in perspective, at $65 million per Gulfstream G650 jets, you would be able to buy 35,385 of them! …

Before taxes, of course… 😂

Imagine this…If you laid out $2.3 trillion in $1 bills from end to end, it would stretch 218.7 million miles…

Almost 2.5 times the distance from the Earth to the Sun!

In short…that is a lot of money! 💰

Overall Cryptocurrency Market Cap Breakdown

Market Breakdown 📊

Welcome to the month of July! 🎉

So, how is everyone feeling going into this month?

June wasn’t the best to us as Bitcoin closed at -6.96% on the month, but maybe July is the month we have been waiting for?

Hopefully… 😬

So, let’s dive into July’s historical data and how it has performed in years past.

As we can see, from 2013-2023, Bitcoin has been green 57% of the time…

Already liking this month so far compared to June… 😅

So, why may July be a green month for us?

1. Bitcoin is currently in an ascending triangle formation (bullish) and is currently holding the support line.

2. Historically, Bitcoin has been green in the double digits 3 out of the 4 past years.

3. Large institutions continue to buy more Bitcoin. MicroStrategy bought another $786 million worth of Bitcoin 2 weeks ago…

   Let’s face it, these billion-dollar companies are going to make sure to make money off of Bitcoin. They don’t invest to lose money.

And now, why may July be a red month for us?

1. Uncertainty with the Ethereum ETFs being pushed back and reanalyzed by the Securities and Exchange Commission (SEC).

2. Germany and the United States are making internal moves with crypto, potentially to sell it. Read more here.

3. The crypto gods frown upon us… 🤣…sorry, I had to…

So, with any market (crypto, stocks, Pokémon cards), knowing what the buyers and sellers (bulls and bears) are thinking is key. 🔑

No matter if you are entering a trade to make money when it is going up or down…you are still trading against the other side.

In reality, when someone makes money in the market, someone is losing money, and it is vital to be on the winning side…

Obviously… that Lamborghini is not going to pay for itself. 😂

Alright, enough with the blabbing…

Our next image breaks down the overall view of traders longing Bitcoin and those that are shorting Bitcoin.

Longing Bitcoin: Anticipating that the price of Bitcoin will rise.

Shorting Bitcoin: Anticipating that the price of Bitcoin will fall.

Let’s take a look, shall we? 👀

So, when looking at the comparison of the “long” and the “short”, we can see that the overall market is somewhat split down the middle.

There is no need for a massive panic right now… 👍

However, no need to celebrate either. 👎

Bitcoin is currently in a very neutral state as neither side (bull nor bear) are controlling the market.

So, what does this mean for us?

There is currently a lot of possibilities right now, as shown above with the reasons why July may be a green or red month.

The market is waiting for confirmation to make it move higher or lower, and as a result…

We are having a sideways movement (consolidation) period.

The heat map below which shows the last 24-hour period provides us a great example of sideways movement.

We aren’t seeing double digit red…but on the other hand…we aren’t seeing double digit green either.

This is like the Wild West, and we are waiting for someone to draw. 🤠

So, what’s next? Holding support and building a strong support line is never a bad thing! 😎

Many traders and investors just want the asset to skyrocket, but overextension works both ways.

It may skyrocket but it will crash hard and burn. 🔥

Having a period of sideways consolidation to build a strong price foundation is what we need, and what we have been building recently.

With this, $100,000 per Bitcoin can be a reality! 💰

🧠 Don’t forget! Before entering a trade, do your own research! The person that cares the most about your investment decision is you!

Bull Market Bulletin 📌

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Ethereum ETF Delayed! 🤦‍♂️ With an expected initial launch of…well, today… the Securities and Exchange Commission (SEC) has delayed the launch of the Ethereum ETF. Prior to this discovery, Ethereum was rising in price with the anticipation of the launch, now Ethereum faces $1 billion is selling pressure…One question…what is happening?! 😬

Germany & the US Move Nearly $100 Million in Crypto! On Monday, the Germany government transferred nearly $95 million (~1,500 Bitcoin) to several crypto exchanges. The US transferred $11.75 million (~3,375 Ethereum) to an unspecified address. 👀

🚨 What is alarming is that the Germany government has ramped up transfers from its large pot of $2.82 billion worth of Bitcoin! What do they know that we don’t? … 🤔

Silvergate Bank and the $1 Trillion Problem. Before its collapse in early 2023, Silvergate Bank was a giant in the crypto financial realm. Unfortunately, according to the lawsuit by the SEC, it defrauded its investors by lying about its anti-money laundering control…

I get it, I mishandle $20 at the local claw machine to win a stuffed animal (it was a pig was a cherry hat, I needed it 🤣) but imagine mishandling $1 trillion!

Tether Now Accepted for Social Security Payments! Looking to pay your social security contributions using Tether? Well, if you live in the Philippines, your dreams have come true! Tether has partnered with Uquid to facilitate the payments for social security contributions. You may have never heard of Uquid, but they have a user base of over 260 million members! 😲

Position Trading 📚

Different trading strategies are key to understand. 🔑

The reason we say this…

Because understanding the different trading strategies will make it easier to see which strategy fits your style.

And so, for today we are covering position trading!

What exactly is position trading? ‍🤷‍♂️

Well…right now around 14.6 million Bitcoin are controlled by position traders.

In short, position traders buy an investment for the long haul. They are less concerned with short term fluctuation…

So, if Bitcoin falls 20%, they won’t panic sell. 😎

Key attributes to a position trader are:

1. They follow trends, such as potential return on investment and past growth and performance.

2. They identify an area or price to exit a trade in the long term prior to entering the trade.

3. They are not swayed by short-term price fluctuations or by news unless it ultimately alters their view on the position.

How to be a successful position trader:

1. Identify a key area/price for entering the trade along with an exit price for completing the trade…

   Traders forget that they have to exit the trade at some point. 😅

2. Research is going to be your best friend! Review past performance, along with outside various that may affect the price.

3. Do not enter a trade until you are 110% confident in it. If you can’t explain why you entered the trade, don’t do it… Not financial advice. 😂

There are many other styles of trading that we will be covering throughout our upcoming newsletters.

Each style will have their own perks, like day trading where you pay capital gains of 40% of your profits. 🤣

Jokes aside, when you have found the style that fits you, study it! Develop your skills and dominate the markets! 😎

🧠 Remember! Position traders hold a position for the long-term. There must be a plan in place to control risk and to ensure research is conducted thoroughly before entering the position.

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