💎 Your Exclusive Bitcoin Analytics! (6 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 we watch Bitcoin break the all-time high! 🚀

Now, the question is…

How far do we go? 🤔

Let’s Explore Today’s Highlights

📊 Bitcoin Breakdown: Bitcoin Sets New All-Time High!

📌 Bull Market Bulletin: Current News & Stories

🔮 Crypto Projection: Dogecoin (DOGE)

Bitcoin Breakdown 📊

What a wild night that we saw with Bitcoin! 👀

During the United States’ presidential election, we watched as Bitcoin broke above $75,000!

What an amazing feat to bear witness to! 😎

But then we need to ask ourselves…

After two Bitcoin all-time highs in one year, is this the big one? 🤷‍♂️

Definitely a great questions that we will be diving more into during this newsletter.

Our primary topics are:

1. Overall Market View (24-Hour Heatmap)

2. Bitcoin’s All-Time High Break

3. What to Anticipate Next

Before we get into the awesomeness that is Bitcoin, a word from today’s sponsor!

Thank you to Decentraland for sponsoring today’s newsletter! Now, let’s dive in to today’s topics!

Overall Market View (24-Hour Heatmap)

As Bitcoin breaks the all-time high, it is amazing to be able to celebrate that a vast majority of alt coins are rocketing upward!

According to CoinMarketCap, Bitcoin reached an all-time high price of $75,361.09! 🚀

Don’t worry, we are 75% of the way to $100,000!

Let’s go ahead and take a look below to see how the top cryptocurrency by market cap have moved with Bitcoin’s strong push!

Taking a look above, there is much focus on Elon Musk, but more specifically Dogecoin.

It was not until Elon Musk fully endorsed Dogecoin and made remarks of integration in his companies…

Dogecoin has reached a market cap of $28 billion with a 24-hour volume of $11.7 billion! 🤯

Others include Solana which has been submitted for an ETF and Ethereum which is the first crypto behind Bitcoin per market cap!

Now, with that said, it is also worth mentioning that Bitcoin has moved up the total market cap ladder!

What exactly do we mean by this? 🤔

Bitcoin has officially surpassed Meta Platforms (Facebook) and takes the #9 spot!

Now, the next target is Silver… but how long will it take for Bitcoin to surpass?

Well, the price that we need Bitcoin to be at to surpass Silver is $89,389.87 (at this present time) …

And with Bitcoin’s quick movement from $68,000 to over $75,000 yesterday, this can occur in the blink of an eye! 🚀

Now, with all of this covered, what we are sure everyone wants to know is…

How far is Bitcoin going to go? or possibly… is Bitcoin going to stall out like the last all-time high break? 🤷‍♂️

Bitcoin’s All-Time High Break

Throughout Bitcoin movement to the all-time high, our trendlines continued to hold true!

Thank you again to the crystal ball, of course…

Below we see the trendlines that held and eventually led to Bitcoin surpassing $75,000! 🚀

None of these lines have moved, so we also see that November 25 is still marked and was a safe projection date…

It appears we are about 2 weeks ahead of schedule…

Can’t complain about that one. 😂

Now, if we take another look at the current candlestick, we need to keep a couple of things in mind…

1. It is becoming overextended

2. It broke through resistance with no current pullback

3. And of course… It broke $75,000 🤣

The reason why we would like to highlight the second point, is because a pullback to find support may be the next move.

The reason for this is as Bitcoin increases in price, there is a battle that will take place… ⚔️

Investors will sell to take profits and others will get FOMO and buy.

The deciding factor of which way we ultimately move is which side has the most activity and pushes the pendulum the hardest.

🧠 Don’t forget! This is only the start to Bitcoin’s path to $100,000! Further breakdown taking place in this Saturday’s newsletter!

Bull Market Bulletin 📌

Bitcoin Mining Difficulty Sets Records! We are far past the days of mining Bitcoin on a personal computer… I mean, it can be attempted but the success rate may not be the highest. 😅 For the first time in history, Bitcoin mining difficulty tops 100T. Now that Bitcoin is continuing higher in price, there is more incentive provided to Bitcoin miners to continue their operation, and we are moving towards recovering from the Bitcoin halving.

Mt. Gox Transfers $2.2 Billion in Bitcoin! Oh, Mt. Gox… it is admirable that they want to pay back the investors that lost their funds in their overall shutdown, but it has caused a lot of FUD in the crypto community. Why exactly? Well, being that they have moved around $2.2 billion in Bitcoin to refund to past users, it gives the perception that we are going to have a massive $2.2 billion sell order! 😮 It may be far from reality, but it is still held over the head of crypto investors and traders…

Nvidia Overtakes Apple as World’s Most Valuable Company! Bitcoin is not the only asset that has overtaken in the overall market cap standings! Nvidia has now overtaken Apple as the world’s most valuable company… but by how much? Nvidia is currently worth $3.5 trillion while Apple is at $3.4 trillion. It is still very close in the running, but then another question we must ask ourselves is does Bitcoin have a part to play in Nvidia taking the top spot? 🤔

Crypto Projection 🔮 

There is a massive amount of attention on Dogecoin… especially as it is “endorsed” by Elon Musk.

Just in the past 24 hours, Dogecoin is +9.67% (at the time of writing this) and has surpassed a $27 billion market cap!

With Dogecoin, we must keep in mind… it has a never-ending supply being added to it and of course…

The price is HEAVILY DEPENDENT on Elon Musk’s endorsement…

Check out our projections below! 🔮

Dogecoin’s Current Price: $0.1889
Current Market Cap: $27,715,653,790

Previous All-Time High: $0.73 (according to CoinMarketCap)
Previous All-Time High Date: 07 May 2021

Potential Low Price (2024-2025): $0.70
Potential High Price (2024-2025): $1.91

• Circulating supply is ever-growing

• $0.70 will place market cap at over $100 billion (highly dependent on Elon Musk support and other cryptos’ market caps increasing).

• $1.91 is a best-case scenario with integration into Elon Musk’s business ventures.

🧠 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.