💎 Your Exclusive Bitcoin Analytics! (9 Nov 2024)

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Welcome to Bull Market Bytes!

Your byte of cryptocurrency insight where we follow our checklist…

✅ Bitcoin breaks all-time high…

✅ We have entered the bull market…

__ Portfolio to the moon? …

Well, still waiting on that one. 🤣

Let’s Explore Today’s Highlights

📊 Bitcoin Breakdown: Bitcoin’s Perfect Storm

📌 Bull Market Bulletin: Current News & Stories

🔮 Crypto Projection: Dogecoin (Next Crypto Released on 13 November)

Bitcoin Breakdown 📊

What a wild ride that we have been on! 🎢

Bitcoin breaks the all-time high, pulls back, and then breaks it again!

I’m not sure what else we could ask for…

Ah, yes… Bitcoin to $100,000… 🤣

So, why hasn’t Bitcoin soared out of control yet? Is there not enough rocket fuel?

Well, don’t worry!

We are going to break down Bitcoin’s movement and various factors that play into Bitcoin continuing upward.

Our primary topics for today are:

1. Overall Market View (7-Day Heatmap)

2. Long-Short Ratio (24-Hour)

3. Bitcoin’s Weekly Movement

4. What to Anticipate Next

Now, before we get into the awesomeness that is Bitcoin analytics…

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Let’s tune in for a message from today’s sponsor! 😎

Thank you to Decentraland for sponsoring today’s newsletter! Now, let’s dive back into the awesomeness! 📊

Overall Market View (7-Day Heatmap)

It is amazing to see the positive movement that cryptocurrency has yielded this week!

I mean, it has been a big week for cryptocurrency, and we believe this is only the beginning! 😎

As we take a look below, we see that Bitcoin and Ethereum are both in the double digits with:

Bitcoin = +10.05%
Ethereum = +21.11%

It comes to no surprise that investors believe that a strong Ethereum push is coming soon.

Let’s keep in mind, Ethereum’s all-time high is $4,891.70 from 2021 but is it likely that it will mark a new all-time high? 👀

It will prove interesting as there are new competitors, including Solana that is currently at +19.37%!

Speaking of all-time high breaks, let’s talk a little bit more over Bitcoin and why we aren’t on the moon yet… 😂

Well, there is one key analytic that we need to take a look at…

Long-Short Ratio (24-Hour)

So, what exactly is the “long-short ratio”? 🤔

We have covered this one in past newsletters and find it very important for answering Bitcoin’s all-time high questions as…

It lets us know the psychology behind the market which may lead to projections of upward/downward movement. 👀

Let’s remember when it comes to the long-short ratio…

1. Long = Buying Pressure 📈

2. Short = Selling Pressure 📉

Join me as we take a look below and see if there is anything out of the ordinary…

And what we find is that there is a toss-up in many of the markets, but a few of them that are leaning more towards the “short side” …

When we lean more towards the short side, there are traders that are betting against Bitcoin moving higher. 📉

They may ultimately believe that Bitcoin has become too over-extended in its movement.

However, this could lead to a “short squeeze”, which results in the price moving higher, as they are liquidated out of their positions. 😬

Why is this something to keep in mind?

Because, when a short seller is liquidated, their position actually turns into buying pressure and can spark a massive green candlestick! 🚀

Speaking of a massive green candlestick…

We are trying to make these transitions fun… 😄

Let’s take a look at Bitcoin’s current movement!

Bitcoin’s Weekly Movement

With projecting all-time high values for any asset, there is a slight difficulty…

We don’t have too much to compare it to. ‍🤷‍♂️

What exactly do we mean by this?

Well, when we are pushing towards an all-time high, we can see the previous one which always acts as a resistance line.

With this, we are able to build analytics around when that previous all-time high is going to be broken and surpassed.

However, when the price is actively breaking through, there isn’t much to compare it to.

So, how exactly do we go about it? 🤔

Well, someone could use projected circulating supplies, projected market capitalizations, etc. for the potential all-time high number.

However, for the movement, we are going to look at trendlines…

So, what do we have to go off of?

We currently have a resistance at the top of the current candlestick and a projection on the 9th of December of a new all-time high! 🚀

However, if Bitcoin continues to break higher, which could be likely, the 9th of December will be pushed back further.

Potentially resulting in January of 2025. 📅

Now, let’s not forget, around the 9th of December four years ago… Bitcoin did break the all-time high…

So, it is interesting that we may be looking at the same type of movement.

Now, where do we go from here?

What to Anticipate Next

A pullback may not be far-fetched at the moment.

Through all of the analytics that we have done, around January of 2025 is when Bitcoin will break much higher, potentially to $100,000!

Now, this isn’t financial advice, of course, but we believe that the perfect storm is still forming and trust us…

There is going to be a massive movement when Bitcoin decides to rocket!

And by “trust us”, this again is not financial advice… 🤣

🧠 Don’t forget! There is much hype around Bitcoin’s price, but do not let a slight pullback shake you out of your positions…NFA! 👍

Bull Market Bulletin 📌

$1.1 Billion Pours into BlackRock’s Bitcoin ETF! Bitcoin’s break of the all-time high has sparked a massive interest and has also revived many that may have started to doubt that Bitcoin would ever push higher. This massive $1.1 bitcoin inflow flows after a two-day consecutive $113 million outflow… is this the turning point that is going to send Bitcoin to $100,000? Only time will tell! ⏰

Chinese Man Sentenced to Life for Selling State Secrets… for Crypto! A Chinese official has been sentenced to life in prison for selling state secrets. The twist with this one, as you may have seen from the title 😂, is that it was done for cryptocurrency! For how much, you may be asking… well, it was for $1 million yuan! That is about $139,000 in USD… 😬 Not sure if a little over $100,000 would be worth life in prison or even being sentenced to death…

Cryptocurrency Scams are… again… on the Rise! It is unfortunate that any time cryptocurrency has a substantial movement, scammers come out of nowhere. 🤦‍♂️ The scam that is currently taking place this time? There is a fake app that is impersonating Curve Finance, promising users token swapping and liquidity staking features. When they attempt these features, their transactions become irreversible and there is no customer service available… Make sure to be safe out there! 👀

Crypto Projection 🔮 

If you missed our cryptocurrency projection breakdown from last week, here it is!

Our next one will be released in our newsletter this upcoming Wednesday!

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! ❤️

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