💎 Enjoy Your Premium Bitcoin Analytics! (13 July 2024)

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Welcome to Bull Market Bytes!

Your byte of cryptocurrency insight where wake up in the morning and take a deep breathe before looking at the crypto prices. 😅

I don’t know if my heart can take another crypto dip…

Or my bank account… 🤣

Let’s Explore Today’s Highlights

🥳 Fun Fact: Bitcoin Transactions Make History!

📊 Market Breakdown: Bitcoin’s Bull Market Projections

📌 Bull Market Bulletin: Recent News & Stories

📚 Trading Strategies: What is Day Trading?

Fun Fact in Crypto 🥳

Since its inception in 2009, Bitcoin is becoming more popular, and the number of transactions is increasing dramatically every year!

Let’s take a time machine back…

To the first Bitcoin transaction that took place on January 12th, 2009, from Bitcoin creator Satoshi Nakamoto to cryptographer Hal Finney.

This transaction was for 10 Bitcoin (~$670,000 today’s value)! 👀

Over the years, Bitcoin has been used for a great variety of transactions and we have now surpassed…

Not 1 thousand, not 1 million, but over 1 billion all time transactions!

I guess Bitcoin isn’t dead… 😎

Bitcoin Interactive Transaction Chart

Market Breakdown 📊

I believe we speak for everyone when we say…

“Can we have the Bitcoin bull run already!?” 🤣

I believe we are all getting tired of waiting for Bitcoin to break $100,000…how much longer must we wait?

Well…you are in luck! 🍀

In today’s market breakdown, we are looking into exactly that…

Bitcoin’s projected bull market break and projected value! 😎

So, before we hop into the long-term, let’s take a look at the short-term.

As shown in the heatmap below, cryptocurrency overall is starting to make a green move, which is always great to see!

Especially for my blood pressure. 😂

Short-Term Movement

Bitcoin is starting to make a market recovery, and this is thanks to the Germany government…

No, not because they helped with anything… 🤣

Because they are running low on Bitcoin that they have been selling by the masses…

As result of Bitcoin’s positive movement, we are seeing the Top 10 of cryptos are moving along with it!

Even XRP… it has been a long time coming so congratulations to those few holders…

We are just kidding! 😂

Anyways! Let’s dive into the long-term and the projections for the next bull market run!

Long-Term Movement

So, the movement of cryptocurrencies, and really any asset, can generate patterns for us to follow.

We see this in the stock market with the S&P 500…

The patterns are used to predict market movements…

Well…along with what the crystal ball tells us… 🔮

Let’s take a look at the image below and see if we can identify any patterns that may assist us!

So, this is highlighting the time of the “Bitcoin halvings” in blue along with the projected time of the next bull run in yellow.

See anything interesting? 👀

Shortly after each Bitcoin halving, we witness a break of the all-time high for Bitcoin…

This also occurred in 2013, with the Bitcoin halving in 2012… 👍

Breaking down the halving and the all-time highs previously…

1. Halving in 2012, all time high in 2013

2. Halving in 2016, all time high in 2017

3. Halving in 2020, all time high in 2021

4. Halving in 2024, all time high in 2024???

Odd…why is that last one off? 🤷‍♂️

Well…at the time of the break, there was much hype around the release of the spot Bitcoin ETFs and the mass adoption…

Now…let’s take a moment to think about this! 🧠

What if the Bitcoin all-time high in 2024 isn’t the actual break we have been waiting for?

Let us explain before you think we are full of it. 😂

With each of the all-time high breaks shown above, there is a massive movement that results in a massive downside movement afterwards…

We are currently holding the high area…this break is different…and why is that…

It isn’t the bull market break in accordance with the 2024 Bitcoin halving! 😮

Now, with that said…

Bull Market All-Time High and Projection

Yes, it is a bold statement to say the bull market is still coming after a recent break of the all-time high, but we can explain!

The image below shows Bitcoin’s movement from a portion of 2017 to now, along with trendlines in yellow.

The vertical yellow lines are outlining the beginning to the end of 2025…

This is the projected break timeline for the next all-time high for Bitcoin…

According to the crystal ball that we just checked, of course. 🤣

If Bitcoin were to continue the pattern of years past, we could see the next break reach $107,697.30 to $120,692.80! 🚀

And that is just on the low end!

Bitcoin breaking above $150,000 is not far-fetched for the next bull market run!

At $120,692.80 per Bitcoin, that would make Bitcoin’s market capitalization…

Drum roll, please! 🥁

$2,380,083,861,396 🤯

Let’s put that in perspective! The chart below shows the current crypto market dominance.

If Bitcoin were to stay at 54.56% dominance, and had a market cap of $2.38 trillion, the global market cap would be around…

$3,461,593,968,014

The global market cap is currently $2.17T, according to CoinMarketCap.

That is an increase of ~$1,291,593,968,014! 🔥

🧠 Don’t forget! Bitcoin is holding steady before a potential break of the all-time high. Prior to the last bull run, we hit a low around $3,200 per Bitcoin…imagine holding around $57,000 before the next bull run! 😎

Bull Market Bulletin 📌

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Crypto Thefts are Ramping up Quickly. According to cybersecurity firm Cyvers’ mid-year report, we are approaching $1.4 billion in stolen crypto! In the second quarter of 2024, the total crypto losses exceeded $600 million!

⚠️ Friendly reminder! DO NOT give out your private keys, password lock everything, and the rando online saying “the next big thing, don’t miss out” is not your friend! As time continues and Bitcoin pumps through $100,000, exploits and scams will ramp up along with it…be safe, friends! 🔒

The Germany Government Bitcoin Supply Runs Low! The Germany government is partially to blame when it comes to the drop in Bitcoin’s price. How exactly? Well, in February of this year, they started selling off 50,000 Bitcoin (nearly $2.5 billion in value at that time!) 🤯

Now, their wallet is down to 3,856 Bitcoin (valued at around $220 million). Many speculate that once they eventually sell the remainder of their Bitcoin… (which I am about 99.9% sure they will 😂 ), we can resume our beloved bull run…however, let’s not forget about Mt. Gox’s crypto repayment plan. 😅

The US is Planning to Cut Inflation Rates! From a dramatic inflation rate of 9.1% in 2022, we are starting to see a declining rate, which is a great thing! 😎 As of now, we are seeing Bitcoin green within the past 24 hours, however this could only be a short-term play…only time will tell with this one.

They are after Elon Musk…Yet Again. The European Union released documents on July 12th stating that X (formally known as Twitter), has been found to be in breach of the Digital Services Act (DSA).

How so, you may ask? Well, for one they are not the biggest fans of the “blue checkmark”. This checkmark system is used to indicate verified users, and many argue that it highlights “trustworthy sources of information”. Long story short, if Elon Musk and X are declared in violation, they will be penalized in excess of $200 million! 👀

What is Day Trading 📚

Welcome back to today’s trading strategy! This one is highly requested as we see posts and videos on how to “make money quick”.

Yes, I am referring to day trading. 💰

Before we begin…let’s just clear something up really quick…

99.9% of those posts and videos that you see “how I made $5 billion in 2 minutes” are not real.

Yes…I hate to break your heart, but it is not real… 💔

Don’t get me wrong, there are legitimate day traders that do very well, but they are very rare to see…like a unicorn. 😂

Also, some “traders” are using demo accounts…fake money… the trading mentality is different when risking real money.

So, we are going to give the foundation of day trading along with great starting information!

We will be discussing:

1. What Exactly is day trading?

2. Pros, Cons, Risk, and Reward.

3. Frequently used Exchanges.

4. Trading Formations and Indicators.

So, grab your thinking cap and take notes, this is your first step to understanding day trading! 🤠

Unless you are already familiar with it…

Then this is your continuation of understanding day trading! 🤣

What Exactly is Day Trading?

Day trading, also known as intraday trading, is when a trader enters and exits a trade in a very short period of time.

In the stock market, this is within the trading day (9:30am EST to 4pm EST), but for crypto it is slightly different as markets don’t close.

As we discussed in a previous newsletter, this goes hand in hand with momentum trading…

If you missed that newsletter, click here to read more! 😎

With day trading, the trader will use high volume in the market and a heavy amount of capital to reap high yields in seconds!

For example: If 2,000 Litecoin are bought, and the price goes up $1, then the trader is up $2,000…

That could take seconds to achieve! 🤯

So…why doesn’t everyone do this? Well…off to our next point!

Pros, Cons, Risk, and Reward.

As the saying goes…if it was easy, everyone would do it…

According to the millions of posts and videos out there, supposedly it is easy…but we live on a planet we like to call Earth. 🤣

When it comes to the pros, for someone that has put their heart and soul into learning day trading, they can make a lot of moolah! 💰

Now, before we pre-order our Lamborghinis, let’s take a look at the statistics of profitable and successful day traders…

1. 40% of day traders quit within a month.

2. Only 13% maintain consistent profitability over 6 months.

3. Only 1% are successful over a 5-year period! (Reference)

Now, we are not discouraging anyone, you could be the 1%…but this shown that those millions of influencers are not all the 1%. 👀

So, which crypto exchanges do day traders normally use? Well…

Frequently used Crypto Exchanges.

So, crypto exchanges are going to vary, and it will come down to which ones are the most user friendly…

And of course…the fees associated with them, which include:

1. Trading Platform Use

2. Trading Fees Buy/Sell

3. Withdrawal Fees

Some of the top exchanges used are:

1. Binance

2. Bitstamp

3. Kraken

However, that does not mean that there are several others that will offer a trader everything that they need and want!

So, what are the some of the formations that are commonly seen when day trading?

Trading Formations and Indicators

Let’s begin with the formations. There are a great variety of trading formations that are going to manifest.

Some of the primaries include:

The Bull & Bear Flag

The Bullish & Bearish Pennant

The Ascending Triangle

Descending Triangle

Again, there are many formations, but we annotated the ones above because they are “breakout” formations.

Additionally, these are formations that are a great starting point to understand and build off of.

Day trading can be very rewarding and provide financial freedom, but it takes patience, studying, and understanding.

Are you ready for the challenge of becoming a top 1%-day trader?

🧠 Remember! Day trading takes extreme focus and dedication. There isn’t a trader alive that is 100% on every single trade they have taken and have also been profitable for years. Controlling the loss "(damage control) is imperative!

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