Profiting from the BTC Surge - Unveiling Strategies from Industry Leaders
BTC Knowledge from expert traders and $500M in BTC holder Marathon Holdings + Web3 Gaming & more.
Bitcoin has been surging throughout October and November, and many hodlers who have been accumulating Bitcoin for the long term are now seeing gains in their spot holdings. Even if you’ve been following a DCA strategy, buying every week or month for the past two years, you are in the positive.
Michael Saylor, who is not a trader but an investor with a long-term horizon, now has over $1 billion in unrealized profits with his Bitcoin holdings, which were acquired at an average price of $30,000 through this strategy of buying over time.
Marathon Digital Holdings, a publicly traded company, is a major player in the Bitcoin mining space and currently holds approximately $500 million worth of Bitcoin on its balance sheet.
I had the opportunity to sit down with Salman Khan, the CFO of Marathon, to discuss their long-term Bitcoin strategy. We talked about their international Bitcoin mining operations spanning the USA, Dubai, and beyond. Additionally, we delved into how they are positioning their Bitcoin portfolio in anticipation of potential ETF approvals and the upcoming BTC halving event, an event that significantly impacts Bitcoin miners.
For those who have yet to venture into acquiring spot Bitcoin and storing it in cold storage, owning #MARA on the markets provides indirect exposure to Bitcoin and the $500 million they are holding. The question remains: How much do you anticipate it will be worth at Bitcoin's next peak?
The gaming sector represents a colossal market, surpassing the combined scale of Blockchain and Cryptocurrencies BY FAR. It has experienced accelerated growth, particularly since the shift from working to playing at home. AAA game studios are increasingly turning their attention to blockchain, NFTs, and in-game item tokenization. It's only a matter of time before most major games incorporate tokenization in various ways.
However, despite the immense potential, many AAA game studios remain hesitant to take the first step. This hesitation stems from their already substantial revenue generation and large user bases that appreciate the games in their current form.
Unfortunately, many players are unaware that the tokenization of in-game items empowers them to own the assets they've collected during gameplay. This ownership extends to the ability to sell these items on external marketplaces for real money. This paradigm shift ensures that players no longer invest countless hours in a game without any tangible rewards at the end.
For a deeper understanding of the current state of the gaming industry and the extent of Web3 integrations, I engaged in a conversation with Brian D Evans, the mind behind BDE Venture. This venture invests in various Web3 gaming companies and is actively involved in the creation of its own Web3 game.
The Web3 gaming space is currently brimming with investment opportunities, and our discussion delves into this dynamic industry, offering valuable insights to keep you thoroughly informed.
If you’re looking to consume more quality crypto content, I had the pleasure of connecting with Tj Shedd from Discover Crypto, the former CEO of BitBoy Crypto and the Hit Network. Following BitBoy's departure, the dedicated team at Discover Crypto continues to deliver daily updates on the dynamic crypto landscape, covering everything from Bitcoin to major altcoins and DeFi developments.
In our conversation, Tj and I delved deep into the realm of Bitcoin, exploring its market outlook for 2024. We even ventured into specific price predictions post the Bitcoin halving. If you're eager for nuanced insights into Bitcoin and keen on discovering new YouTube channels, don't miss out on our discussion.
For those that like drinking Wine, or are interested in investing in the growing sector or Wine & spirits as it merges with blockchain, I have an interesting project that has come to light.
Think about the current market inefficiencies of the wine market for wine producers and distributors. While wine is being produced, it has to sit in barrels to prepare for it to be drank. That inventory is money just waiting to come in, but often producers can do nothing about it. On top of that, wine normally improves with age, and sometimes can sit on the shelf for decades before it is purchased, which is also a product that cannot be sold until a certain time, leaving money stagnant and inefficient.
What if we could introduce tokenization and NFT’s into the market, to enable specific bottles of wine or entire wine collections to be bought and sold prior to the product being ready for consumption?
CellarDAO is doing this and a lot more. They’ve created a DAO that investors or any size can enter with any amount of capital and invest into specific winery deals that normally are not open to smaller investors. If you’re interested in exploring industries like this, how they are innovating and how you can get involved, I recommend checking it out and listening to my conversation with CellarDAO Co-Founder Glenn Huybrecht.
Crypto News:
$9 trillion asset manager BlackRock registers Ethereum Trust in Delaware. an Ethereum ETF could be next!
ETH/BTC ratio soars after BlackRock’s Ethereum ETF filing
US Treasury Official says President Biden's admin wants new powers from Congress to crack down on crypto.
Blockchain.com raises $110M funding round at lower valuation
Delaware refers XRP fake filing to state justice officials
U.S. inflation falls to 3.2%, lower than expectations
Solana Overtakes Ethereum By Active Users After 70% Spike
Bank of England proposes allowing stablecoins as a payment option for goods and services.
Sam Bankman-Fried faces maximum sentence of 115 years in prison, judge sets sentencing date for March 28, 2024
Taiwan to make Bitcoin legal Tender for private transactions with the passing of “The Digital Currency Legalization and Regulation Act”. The bill is expected to take effect on January 1, 2024. This is uncertain news and not expected to be categorized as “government currency” like in El Salvador.
Market Analysis:
Bitcoin $BTC:
The Bitcoin Greed Index has reached its peak for the year, hitting 72 out of 100. As Bitcoin's upward trajectory persists, people are becoming increasingly greedy. While the prevailing sentiment is overwhelmingly positive, it's crucial to acknowledge that there will inevitably be some dips along the way. If you're considering adding to your positions, it's beneficial to strategically time those dips.
Here's one perspective from MacroCRG on Twitter, comparing Bitcoin's current price action to the run-up prior to the all-time high (ATH) in 2021. Bitcoin is expected to experience these healthy pullbacks, with potential drawdowns of up to 20-25%, as its rapid ascent often leads to more substantial corrections, even in bull markets.
As we approach the $40,000 price level for Bitcoin, some volatility and minor dips are anticipated. The initial signs are evident today, with a drop from 37k to 35.5k. Some traders speculate that we could reach 30-33k as a local bottom before making a calm ascent beyond $40,000.
Notably, IncomeSharks, one of the most proficient traders (in my opinion), has divested his spot Bitcoin holdings, opting to trade altcoins instead. He plans to judiciously repurchase on the next significant dip. While this is his strategy, others may choose to hold through the fluctuations until the price approaches 100k or more.
Here's a closer perspective on the potential upcoming dip from Twitter trader AltcoinSherpa. He is utilizing the VWAP (Volume Weighted Average Price) indicator, displayed on the right-hand side, which illustrates the areas with the most volume based on price levels. High volume indicates strong support, while low volume areas can be more easily breached.
If Bitcoin fails to maintain its current level, there may be little hindrance to a drop straight down to the 33k level. Given that Bitcoin rapidly surpassed these levels on its way up, a similar scenario is expected if there is a dip. Despite short-term considerations and seeking better entry points, all of these traders and investors maintain a bullish long-term outlook.
Ethereum $ETH:
Let’s take a look at the 2 Day HTF (high time frame) chart.
Ethereum is on the verge of breaking out and continuing its bullish momentum. ETH has been range-bound between 1950-2100 for quite a while now, while Bitcoin has been taking center stage. Now, with the recent announcement of the BlackRock Ethereum ETF, a fire is being lit beneath Ethereum, propelling it to the next level and potentially reversing the trend on the ETH/BTC chart.
Here’s another perspective from the pro trader Satoshi Flipper: when in doubt, zoom out, as he does on the 1-Week chart. Ethereum is currently poised to break the resistance at $2100, and there isn’t much resistance between that level and $3000+. Whether it's Bitcoin moving up to $40,000 or more positive Ethereum news, the momentum is shifting towards an upward trajectory for Ethereum right now. Aside from a potential healthy pullback due to the recent surge in altcoins, ETH is expected to continue its upward trend between now and Q1 2024.
The altcoins that many have been continuing to follow are still SOL, LINK, MATIC, DOGE, AVAX, ATOM, OP, NEAR, INJ, TIA, DYDX, FET, and more. Each of these protocols and platforms have different and unique mostly non-competing platforms, and should be evaluated and understood before doing anything crazy.
One other personal achievement to make note of. We recently reached 100,00 subscribers on the Crypto Coin Show YouTube channel. We’re on the cusp of our 10 year anniversary and this is a huge achievement for us! If you’re not already subscribed to the channel, check it out through the videos above or hit this button below.
Thanks for reading!
-Ashton Addison, CEO of Crypto Coin Show
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