The 63rd Hoot

4 Stages of a Bull Market 🐂

March 4th, 2024

GOOD MORNING & HAPPY MONDAY.

🚨 SIXTY THOUSAND UNITED STATES DOLLARS PER BITCOIN 🚨

THE BULL MARKET IS OFFICIALLY BACK 🐂

Scatt's Weekly Seeds:

🌱4 Stages of a Bull Market 🐂

🌱Satoshi Nakamoto’s LOST Emails 👀

🌱70% of Tokens Die After Bull Market 💀

🌱Bitcoin vs. Gold 🥊

Meme of The Week

Year-to-Date Returns:

  • S&P 500: 7.70%

  • Dow: 3.71%

  • Nasdaq Comp: 8.42%

  • Bitcoin: 49.19%

  • Ethereum: 50.12%

  • Scatt Capital Fortune Strategy: 19.43% 

    • Since Inception: 89.86%

News Breakdown:

Crypto Market:

  • 7-DAY CRYPTO MARKET CAP CHANGE: +$37BIL

  • CRYPTO INVESTMENT PRODUCT FLOW: +$598MIL

  • BLACKROCK BTC ETF HITS $10BN AUM FASTER THAN ANY ETF EVER

  • US JUDGE APPROVED BINANCE $4.3BN PAYMENT IN PLEA DEAL

  • BTC ETF VOLUMES TOP $7.7BN IN 1 DAY

  • MASSIVE BITCOIN RALLY THIS WEEK CAUSED COINBASE TO CRASH

  • CRYPTO HEDGE FUND MANAGERS ARE WORKING AROUND THE CLOCK TO COPE WITH MARKET SURGE (the bull market is SO back)

  • BANK OF AMERICA AND WELLS FARGO ARE OFFERING SPOT BITCOIN ETFS (didn’t have a choice really)

Credit & Debt Markets:

  • 10-YR TREASURY YIELD: 4.192%

  • PHILIPPINES RAISED A RECORD $10.5BN FROM SALE OF T-BONDS

  • 3M HEALTHCARE UNIT SOLVENTUM RAISED $6.9BN VIA BONDS

  • HARVARD CONSIDERING SALE OF UP TO $1.65BN IN BONDS

  • CHINA ROLLED OVER $2BN LOAN TO PAKISTAN

  • STRUGGLING EV MAKER POLESTAR RAISED $950M IN DEBT THROUGH 3-YEAR LOAN SYNDICATED BY 12 BANKS

This Week’s Economic Calendar:

  • Fed Chair Powell Testifies to Congress (Tuesday)

  • U.S. Wholesale Inventories (Wednesday)

  • Consumer Credit (Thursday)

  • U.S. Nonfarm Payrolls (Friday)

4 Stages of a Bull Market 🐂

Prices are up (a lot) and the tequila is on ice… life is good.

The bull market might be is so back.

But according to the founder of Blockworks, Jason Yanowitz, there are 4 specific stages we need to understand:

  1. Rebirth: Bear market exhaustion still exists; prices very quietly recovering; most don’t understand we’re in a bull market

  2. Excitement: Bear market officially ended; coins are nearing all time highs; but your normal friends still aren’t texting you; the calm before the storm

  3. Euphoria: Everything blows past all time highs; VCs announce $500mil funds; we go mainstream again; Athletes and artists get involved; delusion seeps into decisions

  4. Disconnection: Nothing makes sense anymore; you have more money than you ever thought you’d have in your life; a crypto person buys a sports team; and crypto companies spend billions on marketing

Jason thinks we are currently in stage 2.

I have to agree with that… early to mid stage 2.

Satoshi Nakamoto’s LOST Emails 👀

Bitcoin beginnings.

120 pages of emails were just released from the EARLY Bitcoin days.

The 14-year old emails were sent between Satoshi Nakamoto (creator of Bitcoin - we still don’t know who this is) and Martti Malmi (original Bitcoin Developer).

Here are some snippets:

Satoshi explains what Bitcoin is 👇🏼

Satoshi explains the NON-financial use cases for Bitcoin 👇🏼

And Satoshi explains Bitcoin’s energy consumption 👇🏼

Great to hear it from the man himself.

70% of Tokens Die After Bull Market 💀

3 certainties.

Death, Taxes, and most cryptocurrencies dying.

In the 2017-18 bull run, 3,000 coins died after the run.

In the 2020-21 bull run, there were 11,000 coins that died after the run.

These BOTH represented 70% of coins at their respective times.

Point being:

Not everything that glitters is gold.

Bitcoin vs. Gold 🥊

The old guard against the new.

We’ve heard “Bitcoin is the new gold”, but do people really believe that?

Well… Bitcoin ETFs are catching up to Gold ETFs.

Gold ETFs currently hold about $92bn.

Bitcoin ETFs hold about $41bn.

And a Bloomberg analyst recently stated that Bitcoin ETFs will likely surpass Gold within the next 2 years.

Like I said before…

WE ARE SOOOO BACK.

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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, sell or hold any assets or to make any financial decisions. Please be careful and do your own research.