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Welcome back to Bull Market Bytes, your weekly cryptocurrency insight where we deliver the top news and education lessons straight to your mailbox! 📫

Just like the paperboy back in the day…

Before he accidently threw it through your window…

(That wasn’t us, by the way) 😅

Exciting topics for this week!

📰 European Central Bank Drama

📌 Weekly Bulletin Bytes

📈 Dent Analysis and Forecast

📚 Weekly Lesson: Return on Investment

🤓 Fun Fact of the Week 💡

The most expensive Bitcoin transaction fee in Bitcoin’s 15-year history took place in November of 2023!

Through a transaction of sending 139.42 Bitcoins, the sender paid a transaction fee of 83.64 Bitcoins!

That is a transactional loss of $4.27M in today’s value! 🤯

This is not the only ridiculous transaction fee has taken place…

20 Bitcoins were the transaction fee for moving just $200 in Bitcoin!

This accident resulted in an initial transactional loss of $500,000! 😭

Read more below! 👇

The Record-Setting Transaction Fee

European Central Bank Drama 🎭

Well, it was only a matter of time before something dramatic occurred before the Bitcoin halving in April…🤦‍♂️

Let’s not forget, almost 4 years ago the COVID-19 pandemic caused a tank in the financial market.

…yes, it has been 4 years since COVID-19 began…👀

Since Bitcoin’s inception, it has increased around 764,329,122%, in value!

Even so, we will always hear how Bitcoin is “a horrible investment” and that “it can’t be trusted” …🤦‍♂️

This seems to be no different…

The European Central Bank director, General Ulrich Bindseil, expressed that he believes Bitcoin has NOT fulfilled its potential as a global currency.

It was also stated that “Bitcoin transactions are costly, slow, and inconvenient.”

Bitcoin does have a history with high transaction fees, but will that be enough for another cryptocurrency to take the spotlight? 💡

This chart showcases the average Bitcoin transaction fee throughout its existence.

During price spikes, we are seeing averages of $25+ per transaction of Bitcoin! 😬

However, this does not take away the credibility of Bitcoin.

Because of Bitcoin, we were provided the building plans for other cryptocurrencies to excel in many areas.

Let’s take a look at Litecoin! Created in 2011 by Charlie Lee, Litecoin is known as the “silver to Bitcoin’s gold”.

According to Bitpay, which is the world’s largest Bitcoin payment processor, Litecoin has been the most used for transactions for the past 3 months!

The average transaction fee for Litecoin is around 4 cents, with its blockchain having 100% uptime for over 12 years! 🔥

🧠 Remember! Just because someone is bashing Bitcoin doesn’t mean they aren’t buying it at the same time on the cheap!

Ethereum Surpasses $3K 💰

The hype is ramping up and everyone is wondering…

Is Ethereum going to pass Bitcoin and become the #1 ranked cryptocurrency? 🤔

Ethereum has surpassed $3,000, the highest that it has been in 22 months.

With the spot Bitcoin ETFs launched early this year, many thought that Bitcoin would immediately break above $100,000…

…unfortunately, that did not occur. 😟

However, that doesn’t mean Ethereum wouldn’t see a price spike if the spot Ethereum ETFs were approved…

CEOs are selling their stock shares and rumors are spreading that this is in preparation of the spot Ethereum ETFs. 👀

The next determination deadline is the 23rd of May for VanEck’s Ethereum ETF proposal, follow by ARK 21 Shares’ on the 24th of May.

Key figures at crypto asset management firms, such as Bitwise and Grayscale, estimate the likelihood of the spot Ethereum ETF being approved at 50%…

All of this is a month after Bitcoin’s reward halving, which is known for building hype.

Are we potentially creating the perfect storm? 🌪️

Weekly Bulletin Bytes

Binance Web3 Wallet Announces Massive Giveaway! A giveaway is launching in collaboration with Binance Web3 Wallet’s BRC-20 partners promising $1 million worth of crypto in rewards!

Crypto moves towards eliminating the SEC! A group of cryptocurrency entrepreneurs have filed a lawsuit in Texas that could force the Supreme Court to make a key decision in regulating digital assets.

Former President Trump is now on board with Bitcoin? Before the South Carolina primary when asked about Bitcoin, Trump said “I can live with it.” Would this prove to be a bullish one liner?

Jeff Bezos next on the crypto bandwagon? Founder and former CEO Jeff Bezos sells 14 million shares of Amazon worth roughly $2.4 billion! Could this be a step towards a better investment…Bitcoin!

The Winklevoss twins are funding politicians. The Winklevoss twins, who are very early-adopters of Bitcoin, donated $4.9 million to a committee backing crypto-friendly politicians. Seems interesting…

Dent Analysis and Forecast

Dent rocketed from November 2020 to April 2021 by increasing more than 10,061%!

Even though this move did not break the all-time high in price, it did in market capitalization (the overall value of the crypto).

Since inception, the circulating supply has increased dramatically!

The circulating supply is 100,000,000,000! 🤯

Learn more about Dent and their mission towards mobile connectivity which is available in 189 countries! 👇

Dent: Mobile Connectivity Powered by the Blockchain

🧠 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.

Return on Investment 💰

Are you looking to maximize your return on investment and set realistic goals?

If yes, then you are in the right spot! 😎

If no…then think again. 😂

Many posts will promise a cryptocurrency worth 1 penny is going to rocket to $1.

This may be a goal that was set, but is it actually reasonable? 🤔

Let’s take $DENT for example. It is currently #330 on the crypto chart with a circulating supply of 100 billion tokens.

If someone were to say this is going to $1, then they would be saying that the market cap is going to go to $100 billion.

🌟 Market cap (overall value) = circulating supply (times) current price.

That would mean the market cap would be $100 billion, making it #3 on the crypto chart.

Not impossible…but set reasonable goals! 😬

Now, for the allocation of capital…💰

There are normally three categories of risk with each investment.

High Risk
Medium Risk
Low Risk

If someone was looking for high risk, that will encompass new cryptocurrencies that are not yet established and cryptos that have had financial troubles, like FTT.

Newer cryptos can be located on CoinMarketCap in the “Recently Added” area along with websites like Reddit and Pinksale.

⚠️ Caution! Pinksale hosts Initial Coin Offerings (ICOs) so you can be the first investor in a crypto, but it is full of scams!

Low risk would be established cryptocurrencies with a track record of returns over months or even years.

This would include Bitcoin, Ethereum, Litecoin, etc.

Medium risk encompasses a mixture of the high risk and the low risk.

🧠 Remember: Before entering any investment, do you own research!

Someone mumbling about “$1 or bust” or “to the moon and beyond” does not mean that it is a wise investment. Be safe!

Ready for your lesson review?

📚 Make sure to review the lesson above before answering!

Question: What is the calculation used for finding the market cap (overall value) of a cryptocurrency project?