Bitcoin's Supply Shortage: The Calm Before Potential Turbulence

DAILY MARKET OVERVIEW
Bitcoin Shortages? 😱 

Get ready for the bull run Crypto Enthusiasts!

The Bitcoin ETFs have been on a buying spree, snapping up a whopping 7,376 Bitcoin last week alone. That's over $500 million worth of BTC purchased! And get this, institutions are buying up more than the entire new supply being mined. Talk about a supply shock!

Things are about to get even crazier, though. The Bitcoin halving is just around the corner, and that means the daily new supply of Bitcoin is about to get cut in half, from 900 coins to a mere 450. This will greatly reduce the BTC supply available to purchase.

Now, here's the really juicy part - experts are saying Bitcoin could be the "greatest macro bet of all time." One seasoned investor, Dan Tapiero, reckons we could see Bitcoin hit $200,000 to $300,000 in the next 12-24 months. That's nearly a 4x jump from where we are now!

But wait, there's more! Looks like there's a serious Bitcoin shortage out there, with a whopping 74% of the total supply not moving for over 6 months. That means there's not much BTC available for new buyers, and with all that demand from the ETFs, things are about to get real crazy, real soon.

So strap in, because the rollercoaster is just getting started! The Bitcoin halving, the supply crunch, and the potential for massive price gains - it's a perfect storm brewing, and you won't want to miss out on the ride

TWITTER SENTIMENT
Becoming Based

Coinbase's Base chain has become a topic of great interest for us. We've discussed it extensively, and the developments surrounding it have been incredibly bullish.

We've noticed a growing number of influential YouTubers with massive followings start talking about Base and its potential. This is a testament to the growing excitement around the project.

Jesse Pollak, one of the lead developers on Base, has also continued to provide a steady stream of bullish insights on his Twitter.

The metrics for Base are quite impressive, with the volume and user count skyrocketing. The upcoming introduction of smart wallets is also expected in the next few weeks, which is going to further enhance the user experience.

With Coinbase's smart wallets, people will be able to easily use the Base chain without requiring extensive cryptocurrency knowledge - all they'll need is a Coinbase account.

Here’s The Undiscovered Base Projects We Are Currently Monitoring

SHAKA

• Price per SHAKA token: $0.01

• Market Cap: $4.6m

Shaka, also known as "Share the Shaka," is a new and playful social meme cryptocurrency. The primary goal of Shaka is to help onboard new users to the Base blockchain ecosystem by distributing Shaka tokens in an engaging and fun way.

We recommend watching the video below to see how it works.

MYSTCL

• Price per MYST token: $1,200

• Market Cap: $8m

MYSTCLs is a newer project on Base launched in February 2024.

MYSTCLs is a collection of 7,000 NFTs, each represented by 1 MYST token. This means that by purchasing 1 MYST token, you will automatically receive the corresponding 1 NFT. Conversely, when you sell the MYST token, the associated NFT will be burned from your wallet.

We have been closely monitoring MYST for the past 3 weeks, and the community presence on social media has been steadily growing during this time. Additionally, there are some exciting project developments in the works, including the upcoming launch of a new Base project that is expected to directly benefit all MYST token holders.

While both of these projects hold significant potential, it's important to note that they are highly speculative investments and carry a very high level of risk. Investors should keep this in mind when considering these opportunities.

NEWS OVERVIEW
Recent Crypto News

• Strong Bitcoin ETF Flows Expected As Halving Nears, According To Santiment

• Bitcoin Surges To $71K As Ordinals Spark Interest Ahead Of Halving

• Ripple’s CEO Shares Bold Crypto Market Predictions For 2024

• Understanding Bitcoin’s Post-Halving Downturns

YOUTUBE INFLUENCER SUMMARY
Brian Jung - Top 5 New Cryptos To Invest in By Bitcoin Halving (08.04.2024 Summary)

Brian Jung is a YouTube influencer with over 1.7m subscribers. He shares his five cryptocurrency projects that he believes have significant potential for growth in the current market cycle. Let's take a more sober look at each one:

• Aerodrome (AERO) is a decentralized exchange (DEX) built on Base that Brian believes could challenge the dominance of UniSwap. He mentions its high trading volume and swap fees as indicators of its strong position within the Base ecosystem.
  

• DEGEN (DEGEN) is a meme coin on Base that Brian believes provides important liquidity to other Base-related projects. While meme coins are inherently speculative, he suggests DEGEN could reach a $1 billion market cap, which would represent a substantial increase from its current valuation.
  

• Normie (NORMIE) is another meme coin on Base that Brian sees as a potential beneficiary of the current bull run. Given its low market cap, he believes it could double or triple in price during the peak of the cycle, though meme coins carry significant risk.
  

• Rarible (RARI) is an NFT exchange platform that has partnered with the Base ecosystem. Brian forecasts Rable could see its token price surge to $50, $70, or even $100, citing its recent funding and Coinbase Ventures' involvement as positive signals.
  

• Propy (PRO) is a real estate blockchain project that Brian believes could reach a $1 billion market cap. He highlights its existing transaction volume and the backing of the Coinbase CEO as reasons for his optimism.

While Brian presents these projects with strong conviction, investors should approach each one cautiously and conduct their own thorough research before making any investment decisions. The crypto market remains highly volatile, and even well-positioned projects carry significant risk.

Data Dash - The 'Bitcoin Storm' Is Upon Us...Here's What You Need To Know (08.04.2024 Summary)

The crypto market has been in a state of uncertainty lately, with Bitcoin going through a period of consolidation.

This period of "Bitcoin Storm" is marked by the upcoming Bitcoin halving event, which occurs every four years. The halving event reduces the amount of new Bitcoin mined per day, which can have a significant impact on the price of Bitcoin.

• According to DataDash, the success of the upcoming Bitcoin price rally will depend on two key factors: the Bitcoin halving event and the inflows of Bitcoin into ETF products.
  

• The halving event is expected to reduce the daily inflation rate of Bitcoin, but the impact may be less significant than in previous halving events. The more important factor is the continued demand for Bitcoin through ETF inflows.
  

• DataDash suggests that if the ETF inflows remain strong, with tens of thousands of Bitcoin being purchased weekly, it could be a signal that Bitcoin is ready to surge to new all-time highs.
  

• However, if the ETF inflows slow down or become more sporadic, it could indicate a potential correction in the Bitcoin price.

DataDash also discusses the potential impact of the macroeconomic environment on the crypto market.

• With the stock market showing signs of stagnation and the U.S. dollar strengthening, there are concerns that this could negatively impact the performance of Bitcoin and other cryptocurrencies.

Overall, DataDash suggests that investors should be prepared for both upside and downside scenarios in the crypto market. It's important to have a well-thought-out strategy to protect your capital and take advantage of any potential opportunities that may arise during this "Bitcoin Storm" period.

CRYPTO MEMES