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📰 How Long Will The Bull Last?
💎 Solana Punches Back!
💥 How High Will Bitcoin Go During This Cycle?
🚀 Last Chance For GUMMY Airdrop!
📢 Puffer Finance Valued at $200 Million, 30 Funds Own BlackRock ETF!
💭 The Sentiment!
Good Morning Degens,
What a week so far eh? It’s been crazy.
Now, based on data, we can make an educated guess as to how long this bull market will last, as well as the max price Bitcoin will reach during it.
Let’s dive in!
🌍 Market Catch-Up
Top 100 coins Daily Performance - Banter Bubbles
📰 Question of the Day
How Long Will The Bull Last?
What a week, and it’s not over yet!
So far we have had:
A massive crypto correction
Over $9B of open interest wiped out
Hong Kong approving BTC and ETH ETFs
Legendary trader GCR is back
Iran and Israel escalating
And the Dubai flood (where token 2049 is taking place!)
Check out the Dubai floods in this Tooker Kurlson (TOOKER) video and be sure to subscribe to the X account, as more and more alpha will be rolling out as time goes by. By the way, did you know you can get a Gummy airdrop simply by holding TOOKER?
The halving is approaching, and the market has been shaky with the fear of a world war looming. That wasn’t great for crypto price action as is.
Then yesterday Jerome Powell made a hawkish speech, saying that inflation data doesn’t look too good and so we might not see a rate cut anytime soon - we were hoping for one so this is bad news. The market dipped on his speech, however it has now recovered again.
Yesterday's ETF flows were negative too, at -$58 million.
GBTC had $79.4 million of outflows.
Ark had outflows again for $12.9 million.
BlackRock saw $25.8 million of inflows.
Bitcoin is still holding structure, even after several attempts to break down below $61.5k. Though fear is all over our X timelines, this chart puts it all into perspective.
Meanwhile, a bullish divergence has also formed on the charts. This is good and could be the propelant that Bitcoin needs to push back up!
My Thoughts
If you ask me, all is still ok.
As Yoddha puts it below: “If one of the fastest growing asset in history forms a bullish continuation pattern in a high timeframe, I buy”
But this is what I like to see. We have been expecting this, and it will come one day! The supply shock! According to Bybit research, we have about nine months left before it happens. That is crazy and actually could mark the end of the bull run.
Why?
Initially, the supply shock will cause chaos as - during the peak of the bull - investors and fund managers seek out to buy Bitcoin, but find none! This could cause a parabolic blow-off top with Bitcoin reaching numbers no one really thinks possible right now. But then, the holders will sell. How could they not take profit on massive gains? This will in turn cool down the supply shock, while the sell-off will cause prices to drop again.
It’s not a fact, it’s just a thesis and you should do your own research, as this is not financial advice!
💎 Degens’ Den
Solana Punches Back!
This is huge news! Coinbase wallet now supports Solana tokens!
They were easy to access before, but now this integration will allow users (and especially retail) even easier access to Solana tokens - like all those memecoins that have been popping up on it.
Though Solana has faced some issues lately, the developers just pushed an update for the nodes that fixes the congestion it was facing.
Solana is setting up nicely for this bull run! And meanwhile, the Total Value Locked (TVL) on the chain has been rising ever since the start of 2024!
Then again, others are simply being random thoughts!
💥 Best Alpha Posts of the Day
How High Will Bitcoin Go During This Cycle?
Wu Blockchain provides data on what happens to Bitcoin after its halvings. As the years pass and the price increases, it's logical for the rate of price rise to decrease. The chart below does not account for the latest all-time high (ATH). The highest Bitcoin has reached since its last halving is actually $73,737, marking an increase of 754.82%. We can expect the percentage increase this time around to be significantly lower, potentially 100-150%, based on the pattern of each increase being about a third of the previous one. So, if we assume Bitcoin will be at around $65,000 at the time of the halving, we could see a peak Bitcoin price of around $130K-162.5K.
🚀 Trade of the Day
Last Chance For Gummy!
The Gummy airdrop snapshot is happening tomorrow! If you haven’t participated yet, I have a surprise for you below…
One of the ways to qualify for the airdrop is to create a Blofin account and deposit $100. You don’t need to trade it, and can take it out afterward if you like.
Here’s the surprise: You can receive an extra 20 entries into our Win An ETH draw by creating a Blofin account and depositing the $100 (link below).
IMPORTANT!!!
The draw winner will need to verify their Blofin account after being selected. If you claim the 20 additional entries but do not have a Blofin account, you will be disqualified from the draw and a new winner will be selected.
Sign up to Blofin via the Win An ETH draw below and earn an additional 20 entries. (You’ll have to complete the first two steps first) 👇
And good luck!
Only 7 Days to Get A Me3 Allocation! It’s Now or NEVER!
Ok degens! The wait is finally over! The pledge period for Me3, the first project on Yield App Angel Launchpad, is officially LIVE!
Launchpads are a great way to get in super early to projects. If you are in one that succeeds, you could make it big!
Me3 is revolutionizing fan engagement and community interaction by bringing together eSports, gaming, finance, and social connection.
Here's what you need to know about the launch:
Allocation amount: $400,000
Token price: $0.007 per token
Funding round: Private
Vesting: 10% at TGE with 10 month linear vesting
ME3 token network: BSC (BEP-20)
Pledge period: 18 April, 2024 - 25 April, 2024
Everyone from Gold to Angel Status are guaranteed an allocation
Get access to the Angel Launchpad by making an account on Yield App and staking YLD to reach at least Gold tier to unlock access.
It’s super easy. Check it out and get involved below 👇
🐸 MEMEoirs of a Degen!
One is a word, the other isn’t. Debate solved.
📢 Biggest Announcements
Ethereum's Puffer Finance Valued at $200 Million After Liquid Restaking Token Funding
30 Fund Managers Declare Ownership of BlackRock’s Bitcoin ETF
💭 Banter’s Take
The sentiment may be slightly bearish, but when this happens, it may be time to become bullish again.
The markets always do the opposite of what the participants except. And as far as I’m concerned, this bull is not over! This could be one of the best times to buy!
See you all tomorrow!
Supply shock thesis and 150% thesis can’t both be right. There will be a supply shock - no question!