💎 Your Exclusive Bitcoin Analytics! (2 Nov 2024)

In partnership with

Advertise with us Next!

Our Archive of Previous Newsletters

Welcome to Bull Market Bytes!

Your byte of cryptocurrency insight where the market is doing a little bit of this and a little bit of that.

Let’s just hope the end result is upward movement… 😂

Let’s Explore Today’s Highlights

🧠 Fun Fact: The Crypto Funded Vacation

📊 Bitcoin Breakdown: Bitcoin’s Wicking Candle

📌 Bull Market Bulletin: Current News & Stories

🔮 Crypto Projection: PancakeSwap (Re-Run)

Crypto Funded Vacation 🧠

Success stories are always fun to read about…

Especially cryptocurrency success stories! 💰

It gives us the opportunity to fantasize about our own successes, especially with Bitcoin nearing the all-time high!

This story isn’t someone that turned $1 into $1 million, which is always a fun one, but someone that made a modest gain…

It always shows the other side that not everyone that makes a profit in cryptocurrency is immediately a millionaire… 😅

In 2017, James Saye was a technology consultant and recently heard about Bitcoin.

At first, he was nervous about investing into this as he didn’t have much loose change but decided to take a chance.

He purchased around £500 worth of Bitcoin and to his surprise, Bitcoin quickly increased by 500%! 😮

Seeing this, he cashed out his profit and turned £500 into £2,500! 🚀

With this newly found gain, he decided to take a nice vacation to Iceland, and ultimately did buy back into Bitcoin in 2018.

See… not every story is a millionaire’s story, but it is a wholesome one!

James Saye’s Paid Vacation

Bitcoin Breakdown 📊

Welcome back to another “Bitcoin Breakdown”, where we take a look at the Bitcoin market…

Scratch our heads, and question why we didn’t just buy Bitcoin in 2009 and live on a private island… 🤣

Now with that suppressed pain out of the way, the question for today is “how is Bitcoin looking?”

More specifically, should we be in full panic mode with this recent drop? 😂

For anyone that has been in crypto for a while, we know how volatile Bitcoin can be, which can be a good or bad thing.

But at the end of the day, when Bitcoin moves… it moves! 🚀

Our primary topics for today will be:

1. Overall Market View (7-Day Heatmap)

2. Bitcoin’s Weekly Movement

3. What to Anticipate Next

Now, before we get into all of these fun topics, let’s pause for a word from today’s sponsor!

Thank you to The Oxford Club for sponsoring today’s newsletter! 🙏

Now… where were we? Ah, yes! Today’s first topic…

Overall Market View (7-Day Heatmap)

What is very interesting with the overall market view is that cryptocurrency isn’t completely red.

I’m not saying that it should be, but a lot of people would assume that it would be due to the recent drop in Bitcoin’s price.

This is a prime example that a pullback is not a bad thing, it allows regulation of prices and healthy continued growth! 😎

Being that we had a spike up over $73,000 and now down below $70,000 (at the time of writing this) …

We are still up 4.59% and are moving sideways which causes consolidation.

🚨 Spoiler alert! Consolidation is what we want right now! Remember, the perfect storm is what we are looking for!

Now, with the spoiler out of the way, let’s dive into what Bitcoin is looking like from the recent pullback…

And more importantly, should we be worried? 😅

Bitcoin’s Weekly Movement

So, what are the positives that we have going on right now for Bitcoin’s movement?

1. We are continuing along a strong support line.

2. We had a healthy pullback to maintain healthy growth.

3. We have broken a line of resistance.

Alright, and what are the negatives?

1. As highlighted below, we have a bearish wicking candlestick.

2. If we break support, we could pull back to the low $60,000’s.

3. Please see #1. 😄

Even though Bitcoin has continued in a strong pattern even with bearish candlesticks…

Our current candlestick broke two lines of resistance but has a massive wick that is pulling back below them.

This wick ultimately represents “fear” in the market, and no, we are not saying to run around in a circle panicking…

We are just saying that the market is made up ultimately of fear and greed and that wick is representing the fear.

Fear of what you may ask? 🤷‍♂️

Primarily that Bitcoin will not break the all-time high and investors are betting against it.

What to Anticipate Next

Where Bitcoin currently is, to maintain the support line we need to stay above $69,500 going into next week.

If we fall below $69,500, then the support line will be broken, and we may go through a lengthy pullback.

If we do maintain $69,500 going into next week, then we are still on track for a potential break by the 25th of November this year!

🧠 Don’t forget! Overextension of asset prices can lead to crashes!

Bull Market Bulletin 📌

$16 Billion Investment in Crypto Coming Soon? Remember the whole FTX drama where they allegedly stole funds and lost a boat load of investment funds? Well, there has been recent conversations that there is an upcoming distribution of $16 billion in assets to FTX investors from this occurring. There is speculation that 50% to 80% of those receiving funds will reinvest them into the crypto market… which could cause a massive volume spike and price spike! Only time will tell… ⏰

$250 Million in Bullish Positions Have Been Liquidated! Well, I believe the saying is “easy come, easy go”. 😂 Bitcoin reached “extreme greed” levels on Thursday, which is always a bullish indicator that we want to see. Unfortunately, we then watched Bitcoin go from over $73,000 down to $69,000… We were so close to a new all-time high, around $500 shy of it. Due to this drop in Bitcoin’s price, a quarter of a billion dollars was liquidated in bullish positions. The question we now ask ourselves, is this a healthy pullback or are we still far away from the next all-time high? 🤔

MicroStrategy’s Plan to Buy $42B Worth of Bitcoin! At this point, we should all be familiar with who Michael Saylor is. If not, he is the guy that has gone “coocoo” for Bitcoin. 😂 I’m kidding, I am sure we all have a little bit of that. Either way, his newest plan is to raise $42 billion in capital over the next 3 years to buy more Bitcoin! This is ultimately broken down to $21 billion of equity raised and $21 billion of debt offerings. I must admit, he is 110% on board with Bitcoin and I can’t imagine what he will do next.

Crypto Projection 🔮 

If you missed it this past newsletter, we released our projection for PancakeSwap!

Make sure to tune in for our Wednesday newsletter for the next one!

Check out our projections below! 🔮

PancakeSwap’s Current Price: $1.81
Current Market Cap: $500,310,000

Previous All Time High: $44.18
Previous All Time High Date: 30 April 2021

Potential Low Price (2024-2025): $13.08
Potential High Price (2024-2025): $25.12

• Circulating supplies has increased dramatically

🧠 Remember! This is not a call to action! Conduct your own research!

Your feedback is very important to us! ❤️

Subscribe to Premium to read the rest.