SEC Delays Ethereum ETF: Deja Vu for Crypto?

Welcome back to Bull Market Bytes, your weekly cryptocurrency insight where we watch our crypto portfolios go up and down more than a kangaroo on a trampoline! 🦘

Now, with that said…😅

Let’s take a look at our important topics for this week!

Select one if you would like to skip ahead!

📰🚀 Ethereum ETF Coming Soon?

💼📌 Weekly Bytes of Insight 

🗳️📊 Community Poll

📈🔍 Polkadot Price Forecasting

📚✏️ Weekly Lesson: Types of Trading

🤓💡 Interesting Fact of the Week: Everydays: the First 5000 Days is a digital work of art created by Mike Winkelmann, known professionally at Beeple. 🎨

This NFT became the world’s most expensive when it sold in 2021 at a staggering price of $69.3 million! 🤯

Was it worth it? You be the judge!
Everydays: the First 5000 Days

Ethereum ETF Up Next?

Remember when the spot Bitcoin ETFs were approved almost three weeks ago?

…and then they weren’t because the SEC’s official X account was “compromised” so the message was fake. 😲

BUT THEN, they were actually approved by the SEC shortly afterwards!

Yeah…that was so much fun…

LET’S DO IT AGAIN! 😅

Since the spot Bitcoin ETFs began publicly trading two weeks ago, they have generated over $22 billion in volume!

Nearly $10 billion of that was within the first 3 days of trading! 🚀

Multi-billion-dollar companies continue to accumulate Bitcoin, and everyone’s spidey sense is tingling…

A new all-time high for Bitcoin is approaching and we take a step closer to crypto being mass-adopted. 🤩

So, why do we mention all of that? 🤔

Because the success of the Bitcoin ETFs was a sneak peek to how much people want to add crypto to their portfolios!

Which brings us to our main topic…

…drumroll, please! 🥁

The spot Ethereum proposal!

With the spot Bitcoin ETFs being approved, much anticipation was around which cryptocurrency would be selected next.

💡 We may now have our answer to that question!

With the next final deadline set for the 23rd of May, could this potentially create a perfect storm with the Bitcoin halving occurring in April? 😮

Let’s not forget! BlackRock, who holds $9.42 trillion in assets, is a large advocate of Bitcoin!

Their spot Ethereum ETF, with a final deadline set for the 7th of August, has analysts predicting a 70% chance of being approved!

That is significantly higher than my chances of getting approved for a loan! 😅

And with that said, the big question is…

If the spot Ethereum ETF is approved, would we see Ethereum skyrocket? 🚀

Some predict Ethereum would surpass $10,000 is approved!

However… 🤔

People were anticipating Bitcoin to break the all-time high when the spot Bitcoin ETFs were approved.

What we ultimately witnessed was Bitcoin almost breaking $50,000 and then dumping below $40,000 shortly afterwards…

Very disappointing! 😤

So, our main question for you is…

Would Ethereum be any different? 🤷‍♂️

Weekly Bytes of Insight

Dark-web drug-ring exposed!
DEA nets over $320M in Bitcoin!

Looking to stack up more cryptocurrency?
Over $700 million to be airdropped!

Potential Binance listings have arrived!
Who will be listed on Binance next?

Ready to get your degree in Bitcoin?
Cornell University Approves the First Bitcoin Focused Degree.

Silk Road’s confiscated Bitcoin!
US Government auctioning $117 million from Silk Road case.

Which crypto is the top in transactions?
Litecoin leads the way at 38.25%!

Will Ethereum Be Next?

📢 Come one, come all! It is that time of the week again!

🔮 Grab your crystal ball and gaze deeply as we try to figure out what the heck (forgive the harsh language) is going on!

11 spot Bitcoin ETFs were approved and have received collectively over $22 billion in volume! With that said…

Will the SEC allow spot Ethereum ETFs?

The SEC was hesitant to approve the spot Bitcoin ETFs, and even said he felt pressured to do so…

So, our question for you this week is…

Will an Ethereum ETF ever be approved?

Polkadot Price Forecast

Please note: The circulating supply has increased since its previous all-time high.

Polkadot maintains volume in the market and is offered on the major exchanges.

Understanding circulating supplies is very important! Click here to learn more!

🧠 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.

Types of Crypto Trading

So, you want to be a cryptocurrency trader?

You want to stay awake at night questioning your trades and checking them every 5 minutes…

…I mean, pre-order Lamborghinis and Ferraris 😅

DON’T WORRY! You are in the right place!

📚 Class is back in session for this week’s lesson covering the different types of cryptocurrency trading!

See which is your favorite! 😎

Day Trading

Day trading consists of entering and exiting a trade in the same trading day.

Because crypto is 24/7, it would be within a 24-hour period. 😊

With day trading, you would studying shorter timeframes and use 1- and 5-minute candlesticks.

Someone could also look at 30- minute candlesticks and even 1- hour candlesticks for more insight! 😮

Day traders have to be comfortable with various timeframes because trades take place quickly!

Click here for our lesson on candlesticks! 👍

There are trading platforms where you can trade with leverage.

What exactly does this mean? 🤔

If you have $1,000, they may allow you to borrow against them and provide more money for trading.

The more money you have for trading, the larger potential profit. 💰

Binance, Bitfinex, and Kraken are exchanges that provide day trading.

🧠 Remember! Trading with borrowed money can be very dangerous!

Use caution and research trading platforms before using them!

Swing Trading

Swing trading is where a trader will normally hold a position for a couple of days to a couple of weeks.

Why would a trader want to do this? 🧐

Because it allows more time for a trade to “breathe” and make the anticipated move.

With day trading, trades could take less than a minute.

If the trade goes wrong, the trader needs to exit immediately! For swing trading, there is normally built-in “room for error”. 💎

The candlesticks that are normally viewed for this trading type are daily candlesticks.

Long-Term “Passive”

Our final type is referred to as long-term, passive, and…

DIAMOND HANDS! 💎🤲

These traders hold their positions through thick and thin.

Even when the worst occurs, they continue to hold their position and even add to it with belief of better days on the horizon! 🌅

This type of trading normally views daily, weekly, monthly, and potentially even yearly candlesticks!

May strength be with the hodler! 😎

🧠 Remember! Do not invest or trade with money that you are not willing to lose.

Crypto markets can be very volatile!

Ready for your lesson review?

📚 Make sure to review the lesson above before answering!

Question: Which type of trader normally holds a position for a couple of days to a couple of weeks?