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- Crypto is setting the stage to go nuclear
Crypto is setting the stage to go nuclear
The Triple Scoop
February 13, 2024
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SCOOPāS TL;DR
š MARKET SENTIMENT
Itās been a crazy 48 hours. Crypto Twitter is euphoric, but retail is sleeping on the action how do we know?
šļø BARBELLāS WEEKLY PICK
$GLQ - Graphlinq
šļø TOP STORIES
Bitcoin Hits 50k
Crypto.com Advertising Pays off
Arbitrum Volatility
š WEEKLY WINNER
Michael Saylor
š” REKT SECTION
The U.K
š¬ NFT BONUS
Pudgy Penguins
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Crypto Total Market Cap $1.79T - 24/hour change 4.37%+
Total Crypto Market Vol $66.64B - 24/hr change 16.83%+
Majors - 24/Hour change
ETH - $2658 - 3.69%+
Trending Tokens - 24-hour
$TENSET - 6.3% - Community network / launchpad
$ZETA - 21% - Layer 1
Itās been a crazy 48 hours. Crypto Twitter is euphoric, but retail is sleeping on the action how do we know? Just look at the Google search volume for Bitcoin, Crypto Ethereum, and Solana. This makes us wellā¦ Super Bullish on whatās to come.
Last issue we discussed the potential for a left translated cycle, and whilst we would prefer a market to follow the 4-year cycle, we canāt ignore the price action we see in front of us. With 66 days before the halving and BTC now at 50.1K, it does feel, like this time is different (famous last words).
Reminder a left translated cycle theory brings us forward and in theory, should be more accelerated, this happens if exceeds in previous ATH before the cycle āMid pointā But could we see some sort of super cycle?!!
At what other time in Bitcoinās history have we had Institutional buying like we do right now? Never.
Bitcoin ETF Net in Flows reached 12.7K yesterday $BTC.
All-time high 682K BTC held in ETFs.
This has us thinking, If inflows into ETFs continue at this pace, then how is it possible for BTC to run in line with the previous cycles?
Whether we see a full 4-year cycle, or a shorter more accelerated cycle, you have to play what the market puts in front of you. Having seen Bitcoin push past 50K, we think itās likely we push up to 53K, then consolidate around 50-51K before moving higher.
Dominance for BTC is holding around 54%, and alts are pulling up alongside it. As mentioned last week, donāt be fooled into thinking it is ALT season yet, this is simply the BTC pulling the market up, but it certainly feels like ALTS are bubbling for a violent move to the upsides once bitcoin cools off.
Still feel that we see Bitcoin dominance hit near 60% before we get the Bitcoin cool off.
Ethereum
Whilst ETH has been lagging, in the coming weeks & months, it will catch up. The market often rallies in the face of the haters. Prepare for ETH to send in due course.
ALTs
As mentioned above, whilst Alts look like they are tearing, the fun hasnāt begun just yet. There are always cool-off periods and pullbacks, find your entry, pounce, and hold.
DEGEN
More of the same on the degen Solana having its cool off and the 404 meta is still popping and rugging on Ethereum.
What we are seeing is some of the low cap-on-chain utility plays waking up and seeing some movement.
šØBREAKING
Bitcoin Breaks Record High This Year!
š® NARRATIVES TO FOCUS ON IN 2024
- AI Infrastructure / Autonomous agents
- DEPIN (Decentralised Infrastructure)
- RWA - Real-World Asset tokens
- Memes - (youāre not too good for them)
- Eigen Layer
- BTC Defi / BRC20
- New Layer 1ās
- Parallelization EVM / Modular Blockchains
- Solana Killers
Be the envy of friendsā¦
šļø BARBELLāS WEEKLY PICK
In each issue, our Founder āJack Barbellā delivers a hot rising star crypto asset that is yet to explode.
You can Follow Jack Barbell on X - @thebarbell_
Narrative - AI
Potential - 20-30X
Trade idea: A risky low cap with big potential. Considering it as part of a portfolio means careful risk management. Ensure low caps like this only make up a small fraction of your portfolio.
Scoopās Take
We shared Graphlinq with our premium subscribers a few weeks back, and it has since ripped 50% up. Nice.
if one thing is apparent, itās that with the rise of AI, software deployment & development are getting easier at an alarming rate. Are devās days numbered?
Welcome to GraphLinq, a fairly new project to the scene that opens the door to deploying web3 decentralized applications (dApps). Offering a complete No Code Blockchain for dApps and Automation. GraphLinq is said to make deploying Web3 apps a breeze offering a user-friendly platform equipped with pre-made automation templates. Remember Lego? In simple terms Graphlinq allows users to connect automation templates and nodes (Self-contained pieces of functionality) to create āGraphsā that are essentially like mini AI agents that can help you with important personal or business tasks. The ecosystem comprises the GraphLinq Chain and Protocol, Key features empower users to mint tokens, track wallets, set alerts, send emails, set trade orders + more, which are triggered to act by events happening on the blockchain.
The native $GLQ token serves a vital role, powering graphs, and covering fees, It also adopts a deflationary model which is good for holders bags, reduction in supply, price per token goes up. What sets GraphLinq apart is the integration of AI with blockchain, allowing for automation through AI conversations.
GraphLinq's revolutionary approach mirrors AI's impact on programming, transforming non-programmers into blockchain development enthusiasts. For potential investors, holding $GLQ offers promise with a current market cap of just $8 million, upside is big. Outside tech & narrative alone, It is important to always bet on builders, the transparency & professionalism that the GraphLinq team shows distinguishes them as true builders in a sea of noise.
In conclusion, GraphLinq and $GLQ represent a combo of logic, AI, and blockchain, should they succeed, they can expect to pioneer a new era of tech development in WEB3.
As we have said before, crypto is an attention-based game. There is no doubt some of the best are now taking note of the $GLQ token and recognizing itās potential.
š TOP STORIES
Bitcoin Hits $50k - The Bull charges on
At a glance š
Bitcoin reached its highest level in over 2 years as it broke through the $50k barrier.
The latest charge saw Bitcoin overtaking Tesla and Visa in market cap.
Important milestones to note are; December 2022 $16k, August 2023 $25k and November 2023 $35k.
Analysts are predicting sudden Wall Street Fomo
šµļø Scoops take:
Long-term this is playing out exactly as expected - how can you not be bullish now?
There was never a bad time to buy in the long term so we hope you are kicking back and enjoying the rise.
There will be two things to keep an eye out for...the first is those cashing in their profits because, at the end of the day, Bitcoin is up 13k in 2 months and the other is the FOMO pile-in from Wall Street that is expected to follow.
Two milestones to watch out for are the breaking of the $69k ATH and then the $100k marker.
Stay bullish!
Crypto.com Adverting Pays off - Others have to take note
At a glance š
Crypto.com has announced that huge partnerships with F1 and the UFC helped reach a wider audience and boost growth.
The exchangeās user base has grown from 80m in 2023 to now approaching 100m
The Companyās logo is featured in the centre of the Octagon and padding in the UFC and with F1 it was estimated that 1.1bn people watch the sport over the season.
President and COO, Eric Anziani, stated that āit has been tremendous in terms of being able to bring people into the space through these partnershipsā
šµļø Scoops take:
You need to speculate to accumulate and that is what Crypto.com has done.
They stuck their advertising budget necks out and the recent 20% rise justifies the huge outlays.
Granted the 20m increase isnāt purely down to fans of the F1 or the UFC but it goes to show that targeting the right audiences will reap the rewards.
In a heavily congested market, they have made themselves stand out.
Coming to a screen near you.
Arbitrum Volatility - Do Not Panic
At a glance š
A Whale offloaded 95,000 ARB which sent the price into a small frenzy.
The Whale offloaded their entire position of 95,000 ARB and the sell pressure caused the token to slide over 2% from recent highs.
The market absorbed the pressure and the price has now risen from $1.95 (Whale sell price) to $2.06
šµļø Scoops take:
Let this be a lesson, as this is a market many of our readers will operate in, do not always follow whales, be your own trader.
If you have conviction in your bags maintain that conviction.
The worst thing you can do in a mass sell-off is panic as that just opens the door to other investors to profit on your panic if the domino effect comes into play.
Stay strong.
š WEEKLY WINNERš
Michael Saylor
Not so long ago he was being mocked for the losses MicroStrategy was holding.
He stood firm, maintained what he believed in, and kept buying.
Now look what has happened as Saylor went from being $1bn down a year ago today to being $3.5bn in profit.
Some say he is the Peter Schiff of BTC, We know him as The king of Bitcoin.
š” THE REKT SECTION š”
The U.K
The Prime Minister has made it no secret he wants the U.K to be one of the Crypto hubs of the world.
It then begs the question, why the hell is he making life so difficult for residents to trade Crypto?
Users of certain exchanges, including Coinbase, have to pass a quiz to trade.
Users have complained about being locked out for failing the quiz which included ridiculous questions including āWhich financial acts govern crypto asset companiesā
All this has done is antagonize the traders living in the U.K. and they are becoming anything but a Crypto hub of the world.
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