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- The Hoot #48
Scatt's Seeds for Thought:
🌱 JP Morgan Partners With AVAX 🤝🏼
🌱 Crypto Goes To The Moon (Literally) 🌙
🌱 4 BIG Crypto Projections 📊
🌱 Fidelity Files For ETH ETF 🤑
Meme of The Week
Year-to-date Market Performance:
S&P 500: 17.57%
Dow: 5.43%
Nasdaq Comp: 34.96%
Bitcoin: 121.07%
Ethereum: 64.87%
Scatt Capital’s Fortune Strategy: 38.22% (Since Inception (12/22): 33.86%
Market News:
7-Day Change in Crypto Market Cap: -$2bn
US CPI INFLATION DECLINED FROM 3.7% TO 3.2%
DIGITAL ASSET INFLOWS TOPPED $293M LAST WEEK
7-WEEK INFLOWS NOW OVER $1BN
INVESTORS EMBRACING YEAR END RALLY IN STOCKS
JAPANESE WHOLESALE INFLATION SLOWS SHARPLY
FTX SUED BY BYBIT FINTECH TO RECOVER CASH
FORMER FTX GENERAL COUNSEL TO LAUNCH NEW EXCHANGE
CBOE DIGITAL LAUNCHED BTC, ETH MARGINED FUTURES
WALMART, TARGET EARNINGS GIVE HOLIDAY SEASON INSIGHT
FORESIGHT VENTURES ACQUIRED MAJORITY OF THE BLOCK
TAIWANESE EXCHANGE BITGIN IS UNDER INVESTIGATION
WALL STREET DOUBLES DOWN ON BTC AND ETH
CRYPTO MARKET VOLUME SOARS AMID KOREAN FRENZY
COMMERZBANK RECEIVES CRYPTO CUSTODY LICENSE
CHINA WILL BE AT THE FOREFRONT OF AI - GOOGLE
THE WEEK AHEAD:
Leading Indicators
Existing Home Sales
Thanksgiving (Thursday)
JP Morgan Partners With AVAX 🤝🏼
ANOTHER ONE (said in DJ Khaled’s voice).
Another crypto and traditional finance partnership.
This is becoming a weekly event.
JP Morgan announced it will used Avalanche (AVAX) to tokenize portfolios.
Which is really cool & could propose an awesome new investment product.
The idea being to sell/own a piece of a or a group of portfolios.
Massive news JPM and AVAX teams… Well done.
Crypto Goes To The Moon (Literally) 🌙
Only in crypto…
Yes, that’s right. The Dogecoin team is sending a physical token to the moon.
The actual moon.
They’ve partnered with a company called Astrobotic who will be heading out there later on in December this year.
It’ll also carry a physical Bitcoin token, and the Genesis block (first Bitcoin block mined).
The goal? Make the news, and demonstrate the power of a crypto community (since Dogecoin holders funded the whole thing).
As I said… Only in crypto.
4 BIG Crypto Projections 📊
4 Coinbase analysts decided to level up and give us their insights:
What are they?
90% chance of near-term spot BTC ETF approval
Bitcoin could climb as high as $150,000 by 2025
The crypto winter may be in the past
Crypto rally looks overdone
A lot of their thoughts revolved around the ETF.
The bottom line is that an approval could quite literally be GAME CHANGING in the long run.
Bringing BILLIONS of dollars into the market along with reputable institutions and investors, which brings more money etc.
It’s not a matter of if anymore, just when.
Fidelity Files For ETH ETF 🤑
Last week we had Blackrock, now we have another giant.
First Bitcoin… now Ethereum. Fidelity has done it and advanced with a spot ETF application directly with Nasdaq.
Nasdaq has since gone and filed that the SEC change the rules regarding this.
The game is turning folks. These are not small individuals we’re talking about… this is NASDAQ.
Bitcoin is arguably the, if not one of the, best invention/s in history.
Ethereum is second to that, bringing an entirely new dynamic to the crypto world.
To simplify further… the crypto world would be GOOD with just Bitcoin, but it’s going to be GREAT with Ethereum in it.
Give it time and watch the BILLIONS flow into BTC and ETH.
Don’t believe me? Flag my comment and come back to it in a few years.
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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.