Get immediate access to my entire crypto portfolio.. just $1.00 today! Go here to get access: https://www.cryptorevolution.com/cryptnation-direct
Get your FREE copy of “Crypto Revolution: Your Guide To The Future of Money”. In this book, I reveal how to make (and keep) a fortune during this 2024 crypto bull run! https://www.cryptorevolution.com/free
Follow us on social media for leading-edge crypto updates and trade alerts:
Tweets by CRYPTO101Pod
https://www.instagram.com/crypto_101/
@crypto101_podcast
*This is NOT financial, tax, or legal advice*
Boardwalk Flock LLC. All Rights Reserved 2024.
All right everybody Bryce here coming at you with another real quick crypto market update guys this was another big week in crypto mainly because we actually got to see the the real effects of the Bitcoin ETF we had a full week of trading and there was some fireworks now
Again the most obvious thing people could kind of point to is they look at the price of Bitcoin and they say well the price of Bitcoin when it when it launched the ETF was at 4 you know 8,000 47,000 it could quickly hit a a spike
All the way up to 495,000 but now it’s at 415,000 so what the heck happened right is is it the end of Bitcoin is everything now over of course not there’s just flows right so inflows and outflows and by the way Bitcoin currently within one week of trading as
An ETF is now the second largest commodity ETF in the world I I want that just at the outset to be very clear within one week There’s $30 billion of capital in Bitcoin ETFs there is $1 billion in all silver ETFs combined and there’s $95 billion in all gold ETFs
Combined spot ETFs right so very quickly within one week Bitcoin becomes the second largest commodity ETF but I want to talk about kind of how it got there right um there’s the grayscale trust which has most of the Assets in it right now and then there’s the the Black Rock
And the Fidelity and all that kind of stuff so within this first week of trading with all the inflows from the new ETFs and all the outflows from grayscale um there was a net $1.2 billion of inflows of of new capital into these products um so if you add up
All the subtraction I think there was uh -2.8 billion doll that flowed out of grayscale there was $4 billion that flew into all the other ETFs so when you combine that uh it’s it’s a positive $1.2 billion of net inflows into the the Bitcoin that I think there’s maybe 10
Bitcoin ETFs that’s crazy crazy crazy numbers record-breaking numbers um they traded about $3.5 billion a day uh each week which is crazy when you take a look at all the top 500 ETFs that were launched last year there was about 500 ETFs that were launched last year and
Combined they were trading about 40050 million a day so you had the Bitcoin ETFs that were trading about six times as much per day than all other 500 ETFs that were produced last year combined so it was a splash hit it was a big hit everybody was excited now of course the
Prices wobbled a little bit but I think we’re actually towards the lows of the range Okay so again nothing I say is you know explicit Financial advice or investment advice I think we’re closer to the bottom than we are the top okay and let me tell you why because we’ve
Had all this turnover of capital billions of dollars of trade volume at these new levels prices kind of getting accepted at these levels we’re starting to find some kind of fair value right $40,000 is the cost of production um per Bitcoin after the having so when the
Having happens in April of 2024 the cost to mine one Bitcoin will go up to about $40,000 so right now we’re at about a floor price for Bitcoin after the having right so you know I think right now maybe prices you know wobble a little bit um in terms of Bitcoin right maybe
They wobble a little bit but I think we’re much closer to a bottom than we are at top I couldn’t see it going much much lower than $40,000 per coin um and so I think that we’re we’re still in a huge huge buy Zone because of how the
The price is just reaction here um and if you also take a look at um within 30 days I see the within 30 days this is the earliest sort of time frame for approval but I think that they’re going to try and hit this deadline um there
Will be options trading on these Bitcoin ETFs that’ll be big now you’re going to have options market makers and options funds and Traders in in a whole new way of trading these Bitcoin ETFs that’s going to be huge as well that’s going to add a lot of volatility and excitement
On the NASDAQ on the New York Stock Exchange on the Chicago Board of options Exchange right these are three of the largest exchanges that that that host options right and so we are really really really excited to see kind of what’s going to be happening there and
We have just this kind of trend consolidation right now in Bitcoin this liquidity event kind of marking some kind of near-term sort of local resistance range in Bitcoin but we’ve seen altcoins fly during this sort of chop zone for Bitcoin so I think as Bitcoin kind of continues this bullish
Consolidation and then eventually resolves higher we’re going to see altcoins continue their breakouts we’ve seen many many many coins go up 10 30 50% since the ETF has launched and continued with strong momentum so to me this tells me that as Bitcoin dominance continues to fall altcoin dominance is
Rising and gaining market share this is the historical Trend in the months uh leading into and kind of leading out of the having you see Bitcoin dominance fall um this just means you know market share growth is towards altcoin so your odds are better scattering your your
Bets in the altcoin market which we’ve got a ton of uh fundamental research and amazing picks um that our subscribers are following so guys uh hopefully you guys are uh paying attention to the markets because now is not the time to to sleep now is not the time to to pack
It up and not pay attention now is the time to say all right well which altcoins are performing best um but before I get there uh did you guys see as well Franklin templeton1 and5 trillion asset manager huge 20th largest asset manager in the world they filed
For Bitcoin ETF they launched it it’s been very successful they were tweeting out how again Tweeting or posting on X whatever you want to call it about how they are supporting uh the launch of ETFs for other cryptocurrencies kind of you know touting the merits of crypto as
A diversified asset class and saying wouldn’t you rather own many cryptos than just one crypto and again this is on their Twitter right and they put on their Franklin templon sort of Benjamin Franklin icon this their their logo they put laser eyes on him and these laser
Eyes are like was a symbol of of of Bitcoin maximalism back in the day so they were tweeting out about meme coins so again we’re getting financial institutions that are on the traditional side getting them into our culture getting them into our uh spheres of influence and I’m I’m very excited to
See how this all works out but anyhow guys that’s all the time I have I’m really excited about where we are going in this market hopefully you’re coming with us all right that’s the market update now also real quick if you guys don’t have a service where you could get
Fundamental analysis technical analysis and and applied research for you guys to make the best decisions possible when it comes to managing your crypto portfolio if you don’t have something like that but you want it then come over click the button below hit subscribe guys because
For $1 you could hit uh for $1 you could join us for two weeks okay $11 twoe trial come and see everything that we’ve got planned for you newsletters portfolios buy zones sell zones everything you need to know in order to crush it and get set up on exchanges
Everything you need to know guys we’ve got your back again $1 two we trial to cryp Nation hit the button below and come and see