💎 Your Exclusive Bitcoin Analytics! (02 Oct 2024)

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Welcome to Bull Market Bytes!

Your byte of cryptocurrency insight where my credit score isn’t the only thing that is going down in value…

But I still believe Bitcoin will one day go back up…

Just like my credit score. 😂

Let’s Explore Today’s Highlights

🧠 Fun Fact: What is a “Rug Pull”?

📊 Bitcoin Breakdown: Another Bullish Pattern!

📌 Bull Market Bulletin: Current News & Stories

🔮 Crypto Projections: Coming 15 October!

What is a “Rug Pull”? 🧠

As we get closer to 2025, there is a lot of anticipation of higher crypto prices.

And what does that mean?

Well… unfortunately, the number of scams is going to increase dramatically… 🙄

This year alone, there have been over 50,000 investment scams and over 117,000 scam tokens created! 😮

That is very concerning!

The best way to combat a scam is to have the knowledge of how to spot it before it gets you…

And with that said, let’s cover a “rug pull”.

In this type of scam, it can actually be very elaborate… 😬

In the beginning, the project can sound very promising and have many people on board that believe it is the next big thing.

The price is normally pumped up, which drives FOMO (Fear Of Missing Out) into the community and people buy based off hype.

Little do they know…

They people on board hyping it up are just paid actors and they are hyping the price so you will push the price higher with your buy orders. 😠

And in return…

The developing team will sell off all of their coins/tokens and leave you with nearly worthless coins/tokens.

⚠️ Spoiler alert! The people that normally set up this type of scam have done it many times over again.

All in all, these are professional scam artists.

And once they have completed the scam… well, they are off to the next one.

Be careful out, people want your crypto! 👀

How to Avoid a Rug Pull

Bitcoin Breakdown 📊

Welcome to the month of October…

Or “Uptober” if you are feeling optimistic… 😂

At the end of last month, Bitcoin was making strong moves and even created a bullish pattern.

Now, it seems like it got shy and started running the other way…

For today, we are going to cover the Bitcoin weekly chart and show that there is actually another pattern that has formed…

⚠️ Spoiler alert: It is a bullish pattern!

The breakdown for today is:

1. Bitcoin’s Weekly Movement

2. Bullish Pattern Formation

Now, before we dive into today’s “Bitcoin Breakdown” let’s hear a word from today’s sponsor!

Thank you to VantagePoint for sponsoring today’s newsletter! 🙏

And with that said, let’s dive in!

Bitcoin’s Weekly Movement

So… what exactly is going on with Bitcoin? 🤔

I don’t know about you, but I am ready for Bitcoin to spread its wings and soar to the moon…

That makes me feel poetic. 😅

Before I leave to start a career in poetry, let’s take a look at the image below and dive more into Bitcoin’s latest movement.

As we see above, our most recent candlestick actually broke through the support line that we had.

And that now brings us to:

1. Bullish - 47.28%

2. Bearish - 52.72%

But don’t worry! 😄

Pullbacks happen and it may actually be showing us something else to track…

With the movement above, it does come as a surprise as we had the “three white soldier’s formation that formed…

And this is a bullish formation.

So, why would this support break happen and why shouldn’t it break my heart? 😂

Well, there is another bullish formation that we need to keep our eye on…

That formation is the descending broadening wedge!

When we compare the first chart and the second chart, they have the same movement, but they highlight different patterns.

1. The first is the symmetrical triangle pattern

2. The second is the descending broadening wedge

I will admit, the symmetrical triangle pattern isn’t the most textbook one that I have seen, but it does give us something important to realize…

The movement right now is neutral, that is why we are seeing it bounce everywhere. 👀

So, where does that leave us?

Bitcoin’s Anticipated Movement

Well, we are still anticipating some type of movement by the week of the 14th of October.

Even though we have broken support does not mean that there won’t necessarily be a tail at the bottom of the candlestick…

This tail shows us that bullish pressure is still present! 😎

The percentages for the upward break during the week of the 14th of October may have decreased…

But as fast as Bitcoin moved down, it can move up! 😁

🧠 Don’t forget! Just because support and resistance lines break does not mean there won’t be a retrace!

Bull Market Bulletin 📌

Inside a Swiss Nuclear Bunker with a Bitcoin Stash! Bitcoin is a very valuable asset and many people believe that the value will only continue to increase… which makes perfect sense to us! 😎 There are some that keep their Bitcoin in a cold wallet and even some that keep it on an exchange… which you shouldn’t! 😅 But there are also others that will choose a third party to place their Bitcoin in an underground bunker. Definitely worth the 3-minute read on the “Fort Knox” of Bitcoin… Spoiler alert… the door to the value weights 6 tons or 12,000 pounds! 🤯

Is XRP Finally Going to Break the All Time High from 2018? Many moons ago… about 6 years to be exact 😂… XRP made a major move from $0.007 to $3.84 in a matter of months! Since then, the SEC went after XRP claiming that it was a security and because of this… XRP has not set an all-time high since then. In 2023, XRP was declared “not a security” which rocketed the price up to $0.95. Fast forward to today… XRP is now breaking a 3 ½ year downtrend… will XRP holders finally see the light? 👀

NFT Sales Plummet to Lowest Month Since 2021. Who doesn’t love NFTs? ‍🤷‍♂️ You have the creativity, the excitement… the sharp drops in value… 😬 As we close out September, we see that NFTs are not the hot thing that they use to be. In March of 2024, we had over $1.6 billion in NFT sales! 🤯 Now, we see an 81% drop as of last month where there was only $296 million in sales. The question in… are NFTs a thing of the past?

South Korean Frauds Impersonate Regulators to Scam for Millions! It seems like every other day there is some type of scam or fraud that is taking place. This one has somewhat of a twist to it. 🤔 These fraudsters would impersonate regulators and send letters to customers asking for 5,000 USDT in “investigation fees”. It may seem like it would be easily identified as a scam… but the unfortunate part is that they scammed victims out of $22.7 million! 🤯

Crypto Projections 🔮 

We are just as excited as you are…

The crypto predictions section of the newsletter has been set for the 15th of October! 🚀

This is a key time as we move closer to 2025, which aligns to when past bull runs have taken place…

And we are looking for a piece of the action! 😎

Make sure to continue to tune in as we get closer to the release of this segment!

Your feedback is very important to us! ❤️

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