💎 Enjoy Your Premium Bitcoin Analytics! (16 July 2024)

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Our Archive of Previous Newsletters

Welcome to Bull Market Bytes!

Your byte of cryptocurrency insight where we are working towards building a time machine for a sole purpose…

To tell our younger selves to buy Bitcoin in 2009. 🤣

Let’s Explore Today’s Highlights

🥳 Fun Fact: Bitcoin’s Return on Investment

📊 Market Breakdown: Bitcoin Rejects Bearish Trend!

📌 Bull Market Bulletin: Recent News & Stories

📚 Trading Strategies: Risk Management Fundamentals

Fun Fact in Crypto 🥳

Speaking of a time machine…let’s take a look at where Bitcoin is, and the return-on-investment percentage Bitcoin investors have enjoyed over the years.

I am sure we all have heard it… “Bitcoin is dead” or “Bitcoin is a scam”, but it is hard to justify this based on the numbers. 🤦

At the time of writing this segment, Bitcoin’s price is $62,740.30. Just a year ago, Bitcoin was $30,146.41…that is a 108.12% increase in 1 year!

Let’s dive a little deeper, shall we… 🤿

Four years ago, in July of 2020 (when everyone was dumping Bitcoin and panicking over COVID-19…the price was $9,197.33…

Now, if we invested 10 years ago, the price was $623.09…that is a 9,969.22% increase!

And our favorite…if you would have invested in July of 2010, the price was only 5 cents per Bitcoin…

Yes, you read that right…only 5 cents per Bitcoin! 🤯

That is an astonishing 125,480,500% increase for those that may have held it throughout the years!

In other words, a $100 investment at that time would now be worth $125 million!

So…the question is, who is on board for building the time machine? 🤣

Bitcoin’s Historical Price Data

Market Breakdown 📊

I don’t know about you, but we are loving the formations that are being formed on the weekly Bitcoin/United States Dollar candlesticks…

Don’t worry, we are about to cover them! 😎

So, for the past few newsletters we have been talking about the projection for Bitcoin’s movement and that bullish pressure is incoming…

It appears that this is holding true…for the moment…

The market can change quicker than my phone battery from 100% to 1%…for context, it’s an 8-year-old phone… 😂

Before we dive into the chart analytics, let’s take a look at the 7-day heatmap and admire all of that beautiful green!

Cryptocurrency Heatmap (7-Day Timeframe)

All of the major cryptocurrencies are looking great, even Dogecoin for our reader’s that love the dog coins! 🐶

Even though the heatmap doesn’t necessarily show market projections, it does provide an overall idea of the psychology behind the trades…

And as we always teach, understanding the psychology of both buyers and sellers is imperative in any market! 👍

Speaking of…the long to short ratio is another great way of seeing how traders are…well, trading the market...

The heatmap is great for price reference, but the long to short ratio is going to show if there is any immediate or upcoming upward or downward pressure.

It ultimately depends on the timeframe that you are viewing. 👀

Long to Short Ratio (12-Hour Timeframe)

For today’s newsletter, we are taking a look at the 12-hour ratio which shows us a more exact idea of what is going on.

Compared to a 24-hour or 72-hour ratio.

We see in a majority of the markets listed above, there is a strong long bias that has occurred in the past 12 hours…

Which makes sense…Bitcoin is on a roll! 🚀

Now, let’s get to the good part…our favorite part and possibly yours as well…

The chart analytics!

While reviewing these charts, there are several bullish indicators that have taken place and are currently taking place!

We will be reviewing the:

1. Inverse Cup and Handle Rejection

2. Bull Flag Formation Recovery

3. Overall Ascending Triangle

Let’s go ahead and dive in! 🤿

Inverse Cup and Handle Rejection

Within the weekly candlesticks, we see that there was an “inverse cup and handle” formation that formed and did break downward…

HOWEVER… once it hit the support, it bounced back up in a bullish fashion! 🐂

This clearly shows that there was a great shift in momentum for downward pressure to upward pressure…

Along with still holding the overall formation that is an ascending triangle.

Bull Flag Formation Recovery

Prior to the rejection of the “inverse cup and handle” formation, we see that there was a “bull flag” formation that had formed…

And yes, there was a break…but take another look… 👀

After the “bull flag” formation broke downward, it bounced off of the support and jumped back into the formation!

Definitely a great thing for the diamond hands out there!

Alright…so what’s next on the list? 🤔

Ascending Triangle Formation

Ah, yes…the good ole “ascending triangle” formation…

This is one that we originally presented in a newsletter a couple of weeks ago, and it is still holding strong!

If you missed our latest newsletter, it isn’t too late! 😎

This newsletter gives a deep dive to the “ascending triangle” formation along with a timeline and price projection for Bitcoin…

Check it out here! 📊

With all of the analytics and formations that we have covered, we are projection continued upward momentum.

Even though there may be a few bumps along the way…

Which there always seems to be… 😅

We believe that Bitcoin is poised for another bullish breakout in 2025!

🧠 Don’t forget! When viewing a chart, take into account the bullish and bearish movements! Don’t just see a bull flag and assume that it is going to the moon, there may be bearish features that need to be accounted for!

Bull Market Bulletin 📌

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Developer of Tron Invests $5 Million in Ethereum: Justin Sun, the developer and founder of Tron (a cryptocurrency that is currently #11 with a $12.04 billion market cap) added to his position in Ethereum by purchasing an additional 1,614 Ethereum this past Wednesday! 👀

This isn’t his first purchase of Ethereum…not by a long shot! This purchase brings his total Ethereum investment to an astounding $1.1 billion! 🤯 Is there something that he knows that we don’t? Only time will tell…

Europe is Dominating in Crypto Trading Volume! 2024 has been a huge year for cryptocurrency…thing about it… We had the spot Bitcoin ETFs that were released, Bitcoin broke the all-time high, a former US president vouches for crypto, and now trading volume is through the roof! 🚀

According to a study by CoinWire, the global cryptocurrency trading volume this year is estimated to surpass $108 trillion! 😮 That is 90% higher than we saw in 2022! The United States is currently in the lead with $2T in volume, but European nations are collectively leading with 37.32% in global transactions!

South Korea Considers 3-Year Tax Breaks: Since 2021, crypto taxes in South Korea have been a debated topic. With their increasing interest in cryptocurrency, the Financial Services Commission (FSC) presented data showing that the number of crypto investors in South Korea has dramatically increased to 6.45 million (about 12 percent of the countries’ population).

The decision was postponed to January of 2025 under the Yoon Seok-Yeol administration, but they are now considering not to bring crypto taxes until January of 2028. You may be asking, I don’t live in South Korea, why should I care? Fair question…if they do implement this there is a potential that other country may follow in a similar direction (Argentina for example). And imagine…no taxes until 2028… that means no taxes on a projected Bitcoin moon in 2025! 💰

The Shot Heard Around the World! We all may have already heard, but there was an attempt to fatally harm former President Trump during his campaign in Butler, Pennsylvania. Now, we are not a political newsletter by any means, so what does this have to do with cryptocurrency? 🤔

Former President Trump has been very vocal when it comes to the integration of cryptocurrency, and this is feeding position energy to the crypto markets…like very positive energy! Many believe this incident is fueling voters to sway towards him. At the time of writing this, Bitcoin is currently up 4.86% on the day and the crypto market is following the trend. The question is…will the momentum continue?

Risk Management 📚

Welcome back to today’s education topic!

Today, we are going to be speaking on:

1. What is Risk Management?

2. Diversification

3. Risk-Reward Ratio

4. Staying Informed

Now, before we begin…this is not investment advice, we are not professionals, don’t invest money you are not willing to lose…

I think that is all the lawyers told me to say… 🤣

But seriously…be safe when investing and hopefully this education lesson assist in that, for education purposes… of course.

So, grab a pen, paper and your thinking caps! 🤠 This one is another highly requested one!

What is Risk Management?

By definition, risk management is “measuring the size of your potential losses against the original profit potential…”

In short, not risking $1,000 to make $10… 😂

Also, keep in mind, entering a trade does take capital, or money, to enter in.

Just because someone spent $20,000 to enter a trade with a potential of making $1,000 is not necessarily bad risk management…

Now, if someone enters a trade for $20,000 for a potential of making $1,000 or losing $5,000…then yes, that would be bad risk management…

So, let’s go ahead and dive into different tactics used to mitigate any unnecessary risk and to potentially increase profit potential. 😎

Diversification

We may have all heard this one before,” don’t place all of your eggs in one basket” …

And for our Gen Z readers…” Don't put all your clout in one post.” 🔥

Even if someone wants to invest heavily into solely cryptocurrency or the stock market, look into spreading out your investments within those markets.

As we are a cryptocurrency newsletter, we definitely understand the great potential that this market has to offer.

And yes, I know…we all want to YOLO into one dog coin to make billions, but that is not recommended…for many reasons… 😅

Studying the markets for both short-term and long-term plays also assists in building wealth…

As we have seen for Bitcoin over the past 15 years… 💰

So…let’s take a look at our next topic.

Risk-Reward Ratio

Risk to reward ratio is key when investing and getting the best ‘bang for your buck” while lowering risk.

With that said, we have heard this one before…” he risked $20,000 and only made $500…such horrible risk management…”

That is not exactly how it works. 😬

Someone may use $20,000 to enter a trade, but that does not mean that they are necessarily risking the entire $20,000…

Well, unless they are diamond hands and will not sell for any reason. 😆 For example, if a trader:

1. Buys 278 Litecoin for a total of $20,185.58 at $72.61 each.

2. Target price is $80 for a total of $22,240 ($2,054.42 profit).

3. Stop loss is $70 for a total of $19,460 ($725.58 risk).

Even though the trader used $20,185.58 to enter the trade, they are only risking $725.58 with a potential to make $2,054.42.

Now…the key with this is the risk to reward ratio… 👍

1. Reward potential is $2054.42

2. Risk potential is $725.58

3. Risk to reward ratio is 1:2.83

This means that the profit potential is almost 3 times higher than the risk potential!

AKA…every $1 that they risk, they have a potential to make $2.83…

A recommended risk to reward ratio is at least 1:2. 👍

Risk to Reward Calculator

Which brings us to our final topic of this lesson…

Staying Informed

So, this may go without saying but a crypto newsletter called “Bull Market Bytes” is a great source to follow…

I had to do it… 🤣

Jokes aside, staying up to date with the market is very important…

We all know Bitcoin is going to rocket to the moon…any day now… 😅

Aside from the diamond hands that will never sell, the market is changing daily and following your investments is important.

This doesn’t mean to research 24/7, but at some point, we all have to sell…you don’t want to miss the bull run when it happens.

Periodic updates from Bull Market Bytes every Tuesday and Saturday is a great start! 😂

🧠 Remember! Risk management is there to protect you! This holds you accountable to find the most profitable investments that are fruitful and are not projected to tank on you at any slight inconvenience!

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