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Welcome back to Bull Market Bytes, your weekly cryptocurrency insight where we visited this week’s sponsor Vinovest and “accidently” drank all of the wine we invested in. 😬

Not investment advice…and definitely not life advice. 😅

Exciting topics for this week!

📰 Will Solana Last?

😮 This Billionaire Says No

📌 Bull Market Bulletin

📚 Weekly Lesson: Cost Averaging Pt 2

Fun Fact of the Day 🤓

The largest Bitcoin transaction took place on the 10th of April in 2020.

This transfer was a total of 161,500 Bitcoins, which was valued at $1.1 billion at the time of the transfer.

Today, that is worth nearly $10.9 billion! 🤯

It was later discovered to be completed by Bitfinex, a Top 10 exchange according to CoinMarketCap.com.

Interested to read more about other large transactions? Click below! 👇

The 5 Biggest Bitcoin Transactions in History

Will Solana Last? 📰

Solana is yet again experiencing technical issues with their blockchain…

Not like this happened last month or anything… 🤦‍♂️

Solana has been a very hot topic as of recent, especially with the strong price movement that the tokens built on its chain have experienced.

Also, Solana is making NFTs cool again. 😎

However, no matter how cool it may be, it is not cool when your transaction is failing multiple times.

Solana was recently recovering from a 54% fail rate that it experienced last month.

When people are searching for alternatives, they see that Bitcoin’s blockchain is much slower and Ethereum is too expensive.

Interestingly enough, Solana continues to hold its value as it is up 744% in a year’s time.

Also, there has been a 100% spike in 24-hour volume placing it at $8.3 billion! 🚀

Solana developers have stated that they have found the reason for this increase in failed transactions…

However… 😬

This showcases that there are flaws in the blockchain and it is losing confidence in the crypto community.

This Billionaire Says No 😮

Without a doubt, the Bitcoin ETFs have shown great success and continue to turn heads in the market.

Larry Fink, CEO of BlackRock, stated that IBIT is “the fastest growing ETF in the history of ETFs”.

So, what does this exactly mean?

In emoji… 🚀🛸🌠🌙…In English… we are going to the moon!

The confident that is brought to the market with the CEO responsible for over $10 trillion is assets is a game changer!

So, if the CEO of BlackRock is on board…who isn’t? Well, we all know him from one of our favorite shows on television. 📺

💰 Kevin O’Leary A.K.A. Mr. Wonderful

Some may not know, but Mr. O’Leary was not always very friendly to cryptocurrency.

In 2019, he called it “crypto crap” and was very skeptical while being on CNBC.

In the video below, he states at 6:52 that he will not take real money and put it into this thing (Bitcoin), “it’s never going to happen”.

It was in March of 2022 that he stated that 20% of his portfolio was in cryptocurrency, to include tokens and blockchain firms.

Oh, how the tables have turned… 😂

Mr. O’Leary recently did an interview where was spoke on the Bitcoin ETFs.

No, he didn’t say that they were “crypto crap” like he said it was before, he now has a different reason.

Do you think others will follow or will Bitcoin ETFs continue to grow in value?

After what you have read and watched, let us know which one below will have the greatest return on investment in the long run! 👇

Bull Market Bulletin 📋

Gemini Crypto Exchange Leader Sees a Bright Future! Clair Ching, the head of institutional for Gemini, discusses the Bitcoin halving and her projection of the Bitcoin price for being over $200,000. 🚀

Google Sues Scammers with 100,000+ Victims. Google is suing two Chinese application developers with claims that they have spent years creating fraudulent cryptocurrency investment apps in the Play Store.

Logan Paul, lead over CryptoZoo, says it was NOT a scam. CryptoZoo was a NFT gaming project that led to a HUGE loss. There is a supposed $1.5 million recovery plan…we are now just playing the waiting game.

Solana is Making NFTs Popular Again! Froganas, one of the more recently released NFT collections, has amassed $1.45 million in 24-hour sales. Is this the next big NFT project?

The US Government is Selling Seized Bitcoin? Remember Silk Road? 🤦‍♂️ Seems the Feds are transferring Bitcoin to Coinbase from a wallet that was seized from Silk Road. Could this be a massive sell?

Dollar Cost Averaging 2 📚

Welcome back to Dollar Cost Averaging! Time to grab your thinking caps as we dive into Part 2 of the lesson. 🤠

Need a refresher? Click here for Part 1.

Last week we covered primary types of traders:

Day Traders - Entering and exiting a trade within a single trading day (for the stock market) or 24 hours (for crypto).

Swing Traders - Entering a trade that will last from a few days to a few weeks.

Long Term/HODLers - Entering a trade and holding it for months or even years…also known as diamond hands! 💎🖐️

We also covered how Dollar Cost Averaging worked with purchasing different share size at various prices.

So, now the big question is…when do I add to the position? 🤔

⚠️ Disclaimer Time! This is not financial advice! Now that the legal part is out of the way, let’s continue!

Adding to a position must be a calculated move. There are some people that will opt in to reoccurring investments.

For Example: Auto purchases for $25 worth of Bitcoin every two weeks.

There is nothing wrong with this approach, but please note that as Bitcoin continues to go up in price, so does your average cost.

🧠 Remember from last lesson: The average price is important because it determines where your profit begins…or even the losses.

If someone is wanting to continue Dollar Cost Averaging for the lowest average prior to a rocket in value, charting is your best friend.

Click here to review our lesson over this topic.

Above is an image from the lesson, showcasing the Support and Resistance in movement of price.

Think of the lines as guidance. By drawing the lines, you are able to see the path that it should follow.

⭐ As we don’t speak with others while trading, the candlesticks (support and resistance) show us the psychology of the market.

Relating Dollar Cost Averaging to Support and Resistance, being able to add when the price decreases would maintain a lower average cost.

However, do not fall in the trap of adding at every dip because of someone or a group of people telling you to.

🧠 Remember! Do not invest unless you have done your own research and are 100% confident in the trade!

You are the CEO of your investment portfolio!

Ready for your Lesson Review?

📚 Make sure to review the lesson above before answering!

Question: As communication is limited in trading, what do the candlesticks show us aside from price action?

Your feedback is very important to us! ❤️

Please let us know your thoughts below!