The 52nd Hoot

Scatt's Seeds for Thought:

🌱Ethereum is Incredible 📉

🌱Bitcoin’s Freaky Cycle 👀

🌱Deloitte Takes On The Blockchain 🚀

🌱JP Morgan: Ethereum  😳

Meme of The Week

Year-to-date Market Performance:

• S&P 500: 23.00%

• Dow: 12.40%

• Nasdaq Comp: 41.77%

• Bitcoin: 153.81%

• Ethereum: 87.18%

• Scatt Capital’s Fortune Strategy: 66.29% (Since Inception (12/22): 62.10%

Market News:

• 7-Day Change in Crypto Market Cap: -$4bn

• FED HOLDS RATES STEADY

• FIRST RATE CUTS ANTICIPATED IN MARCH 2024

• US INFLATION DROPS TO LOWEST SINCE APRIL 2021 (3.1%)

• EU INFLATION DROPS BELOW 3%

• ECB HOLDS RATES STEADY

• US ADDED 199K JOBS IN NOVEMBER

• UNEMPLOYMENT RATE FELL TO 3.7%

• KKR BUYING UP RISKY DEBT ACROSS THE MARKET

• MORTGAGE RATES FALL 6 WEEKS IN A ROW: BELOW 7%

• CRYPTO WEEKLY INFLOWS: +$43M: 11 WEEKS STRAIGHT

• LARGEST BLOCKCHAIN STOCK INFLOWS ON RECORD ($126M)

• BLOOMBERG PREDICTS $500 BTC PRICE IN NEXT BULL RUN

• GOLDMAN RESHUFFLES PRIVATE CREDIT TO DOUBLE ASSETS

• KUCOIN SETTLES WITH NEW YORK FOR $22M

• BITWISE SAYS ETFS WILL BE APPROVED & BTC HIT $80K

• LEDGER WAS HACKED FOR HUNDREDS OF THOUSANDS OF USD

• JPM IS CAUTIOUS ON CRYPTO IN 2024

• SEC IS SEEKING $24B IN UNPAID TAXES FROM FTX CUSTOMERS

• THE WEEK AHEAD: 

  • Housing Starts

  • Building Permits

  • New & Existing Home Sales

  • Personal Spending & Income

  • PCE Inflation Index

Ethereum is Incredible 📉

Second to Bitcoin, this is near perfection.

Ethereum’s supply is at its lowest point in 455 days, and continues to DECREASE.

Why?

1. The Merge: Big software update that moved it from PoW to PoS (read). Less energy to run > Less rewards for stakers > Less ETH

2. ETH Burn Mechanism: A portion of every transaction that occurs on the network gets burned. Poof… gone forever.

Put these 2 together and you get an annual supply change of -0.21% (or less 315,000 Ethereum coins/$725m)

Classic supply-demand story from here on… less supply = higher prices when demand returns.

Strong fundamentals.

Bitcoin’s Freaky Cycle 👀

For those of you who don’t believe in looking at charts…

Let me just tell you a quick crazy stat about Bitcoin:

It hit an all time low (ATL) in 2015, and then an all time high (ATH) approximately 1064 days later in 2017.

I then dropped back to a new ATL 364 days later in 2018.

Then it pumped back up to a new ATH exactly 1064 days later in 2021.

THEN it dropped again to a new ATL EXACTLY 364 days later in 2022.

Mind = blown.

Going off these numbers, Bitcoin should hit a new all time high on exactly:

🗓️October 5th, 2025🗓️

Set your reminders cause it’s coming ⏰

Deloitte Takes On The Blockchain 🚀

Crazy fact: The ‘Big 4’ accounting firms audit 99% of the S&P 500.

And the biggest of the 4 is using blockchain to improve shipping logistics.

Essentially they will be implementing a more secure and efficient form of KYC…

Called KYX (decentralized version).

It removes all the extra paperwork AND increases data security & transparency 🤝🏼

So far, Haag-Lloyd is using their KYX services on around 1.5 million shipping containers 🚢

Let’s go!

JP Morgan: Ethereum 😳

This guy hates crypto… and we hate him.

No, just kidding - we love ‘em all… even the haters.

But right after their CEO telling that govt. to ‘shut down crypto’, they TRIPLED their internal crypto team (mainstream media won’t tell you that)…

And are predicting that Ethereum will outperform Bitcoin in 2024.

There’s 1 main reason:

Ethereum’s next upgrade will improve the network and drive more demand. 

Billionaires are generally quite smart, sure, but man this guy can make you doubt that sometimes…

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.