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- 💎 Your Exclusive Bitcoin Analytics! (14 Dec 2024)
💎 Your Exclusive Bitcoin Analytics! (14 Dec 2024)
Did You Miss Me? 😏 Bitcoin Bulls' Next Move! PLUS: Hawk Tuah's Drama – What’s the Tea? ☕️
Jonathan Hamblin
December 14, 2024
Together with
Welcome to Bull Market Bytes!
Your byte of cryptocurrency insight where Bitcoin has broken $100,000 - and then just sat there like me on the bench during a basketball game . . .
BUT DON’T WORRY - this is only the beginning . . . I think . . . 😂
Let’s Explore Today’s Highlights
📊 Bitcoin Breakdown: What Happens from Here?
📌 Bull Market Bulletin: Top Crypto News
Statistics as of: 14 Dec 2024 @ 8:30am EST
BITCOIN BREAKDOWN 📊
IT IS GREAT TO BE BACK! Hopefully everyone missed us as much as we missed them!
If not, I will cry myself to sleep tonight per usual . . . 😄
So, what has been going on in cryptocurrency for the last 14 days that we have been gone?
Well, to point out the obvious Bitcoin broke $100,000 - which is bittersweet as we wanted it to happen . . .
But it was still early in our book as we have been preaching for many months!
As we said in our breakdown in our last newsletter just 2 weeks before Bitcoin broke $100,000.
Bitcoin breaking through $100,000 is imminent - however, we would like to say one thing and it won’t be a popular thing to say.
We hope that Bitcoin holds off on breaking $100,000 and consolidates sideways for a little bit longer.
Now, before everyone grabs their pitchforks and hunts be down in my parent’s basement - hear me out really quick! 😬
We want more consolidation to strengthen Bitcoin’s push through $100,000!
We don’t want Bitcoin to break $100,000 - go to $101,000 and then crash back down to $77,000.
Bitcoin did just that . . . it broke through $100,000 went to $103,000 and went back below $100,000.
But is this necessarily a bad thing? 🤔
Well, my friends and friendettes, that is what we are going to dive more into this newsletter for our topics are:
Overall Market View (7-Day)
Bitcoin’s Weekly Movement
What to Anticipate Next
But before we get into the deliciousness that is cryptocurrency . . .
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. . . Invest wisely, not financial advice!
And now with that disclaimer out of the way per the lawyers - let’s dive headfirst into our love-hate relationship with cryptocurrency!
OVERALL MARKET VIEW (7-DAY)
I believe the question on everyone’s mind aside from when can I cash out Bitcoin to buy a Lamborghini is . . .
Why is cryptocurrency going up in the first place - and at levels that are never seen in the stock market?
Well, young grasshopper, there are a couple of primary reasons:
Bitcoin’s Historical Bull Market Cycle (Every 4 Years)
Cryptocurrency is More Adopted
Speaking on Bitcoin’s historical bull market cycle . . . we need to remember that history does repeat itself.
And in Bitcoin’s case - it is like clockwork!
Courtesy of Coinmarketcap.com we see the chart below which shows us Bitcoin’s all-time high breaks in price . . .
And like we said - it is clockwork of every 4 years (2013 - 2017 - 2021) . . . But what about 2024? 🤔
WHAT AN ASTUTE OBSERVATION! (Anyone get the “The Office” reference?)
I’m dating myself . . . either way! What do you see that various from the other all-time high breaks?
Well . . . Bitcoin has broken the all-time high but has not plummeted in value - it continues to consolidate sideways!
NOW TO THE FUN PART! Bitcoin broke $100,000 to reach a more proper valuation and is setting up to . . .
You guessed it! Break another all-time high in 2025! 🚀
Now to the overall market view . . . what a wild month it has been!
To those new to crypto . . . yes, there are higher gains than the stock market’s measly 7% per year average. 😅
These gains may actually scare people - like I do on Halloween . . . no mask needed, just natural looks . . .
Let’s take a look below at the weekly gains!
Weekly Data (as of 14 December)
Yeah . . . quick boring - but why exactly is it boring on the weekly chart?
To answer that question . . . let’s bring out his older brother - the monthly chart!
Monthly Data (as of 14 December)
Yes, I couldn’t believe it myself . . . Litecoin is up +59.48% - unlike myself on the couch during Monday Night Football . . . it can move! 😄
🧠 Let’s not forget! Litecoin use to be #2 on the market cap list . . . and with a potential Litecoin ETF around the corner- who knows what will happen!
Honorable mentions include XRP at a staggering +249.34% along with Stellar at +243.09% and Hedera at +400.67%!
Don’t worry Dogecoin holders . . . Elon Musk will summon his voodoo to get Dogecoin rolling again!
So even though the weekly heatmap is boring . . . it is due to a pullback from the massive monthly gains!
BITCOIN’S TECHNICAL ANALYTICS
I must say after 4 years of being in the shadows and being doubted that Bitcoin would even break $30,000 again . . .
It feels great to see Bitcoin break $100,000!
But we don’t stop here - this is only the beginning of what Bitcoin has in store for us!
Why do we say this?
It is quite simple . . .
If we take a look at Bitcoin’s price, incorporate the Pathagereum Thereum, carry the 4, shake our crystal ball, annnd VOO-LAH! 🔮
Out pops the secret message of . . .
Bitcoin is setting itself up for another strong momentum push towards $150,000 - $160,000, maybe even higher!
Courtesy of Trading View
At this point, we are consolidating around $100,000 - somewhat similar to when it was consolidating after breaking $68,000 . . .
Which caused the previous all-time high break!
Even though many are excited with the momentum seen in cryptocurrency - we have a little secret . . .
The move that is coming is going to dwarf what we have seen.
It reminds me of when the all-time high in 2013 looked huge on the chart - but when the all-time high in 2017 happened . . .
The 2013 all-time high just looked like a small bump on the chart!
WHAT TO ANTICIPATE
The million-dollar question . . . what to anticipate?
🌍 IN A PERFECT WORLD . . . Bitcoin will consolidate in the $90,000 to $105,000/$110,000 area into the new year!
Now, before the pitch forks are armed and the torches lit . . . let me explain - like I did before predicting the weak $100,000 Bitcoin break . . . 😂
We all know that Bitcoin is overextended - however this push into $100,000 set a precedence . . .
Bitcoin may be overextended but it is HIGHLY UNDERVALUED!
This push into $100,000 is the first step to finding the correct valuation . . . and from there, we build - better known as consolidate!
BACK TO OUR PERFECT WORLD . . . Bitcoin consolidates in the high $90,000’s - low $100,000’s into the new year.
This gives an opportunity to consolidate, build a strong foundation, and then we lift-off into $150,000+!
So, why listen to a crazy guy that lives in his parent’s basement?
Because this recent bullish push is acting different than what we saw in 2013, 2017, and 2021
. . . it is still consolidating and hasn’t crashed!
IN ANOTHER OPINION! As Bitcoin skyrockets . . . investors take profits, push those into other cryptocurrencies and BOOM!
We have entered the highly coveted “alt-season” where other cryptocurrencies (aside from Bitcoin) fly off the charts.
This is not the “alt season” we are currently in . . . contrary to popular belief - this is meme season, similar to the ICO season we had in 2017.
🧠 DON’T FORGET! Do you own research! Be confident in your trades and DON’T be swayed by “get rich schemes”!
Bull Market Bulletin 📌
Hawk Tuah Girl Faces Potential Legal Charges . . . Of course, we have to speak more on this. Why is it that every celebrity endorsed meme coin is followed by the investors losing massive bucks? 🤔 With the girl famous from saying “spit on that thang” - wish I could be famous by saying a one liner like that - her token “$HAWK” crashed from a market cap of $490 million to $41 million within 20 minutes of launch! 🤯
On X (formerly Twitter), she has denied that the team sold one token and that she is completely innocent. Unfortunately for her, wallet data does not lie and shows that the creating team owned 96% of the supply! Investors revolt and call for jail time! What happens next to ole’ “spit on that thang”? 😂
Microsoft Votes Against Bitcoin Investment! Well . . . we may or may have not seen this coming. Microsoft co-founder Bill Gates has always been hypercritical of cryptocurrencies which may have had great influence on this vote - big loss for them!
Even with Michael Saylor from MicroStrategy (which owns more than $40 billion in cryptocurrency) speaking pitching the idea to Microsoft, they still decided against it. As they say . . . you buy Bitcoin where you deserve - Microsoft will probably buy in when Bitcoin is $150,000 or more! 😄
The First Criminally Charged Person for Crypto! It seems that the law has cracked down on its first person for evading taxes . . . for crypto! An early Bitcoin investor from Austin, Texas within the United States has been charged in a capital gains case involving $4 million in cryptocurrency. 👀
Allegedly, this Texas-based investor falsely underreported the capital gains earned from selling Bitcoin worth $3.7 million between 2017 and 2019! That is just the beginning of the evasion . . .
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