In This Issue
- I share my thoughts on the next BTC halving, another bank in trouble, JP Morgan, Cathie Wood & Michael Saylor, Staked ETH & position updates.
- This Week On Chain / Beyond Ethereum.
- Rekt Capital has the latest technical analysis for you on the market.
- Rebecca has all of the latest news for you.
- Erik has a report for you on ZKSync Era.
- Defi Dad has a tutorial for you on how to earn 93% APY to Trade on Kwenta.
- Jesse has a ton of hot new airdrops for you.
For any crypto related questions please comment on the website.
For any support related issues please visit wealthmastery.io and click the bouncing blue circle in the bottom right corner.
👉 DOWNLOAD THIS ISSUE AS A PDF HERE 👈
The News Now
Next BTC Halving: T-Minus 360 Days
Bitcoin’s fourth halving will occur in less than one year from now.
On or around April 27, 2024, at block 840,000, the amount of fresh BTC hitting the open market per block gets cut in half from 6.25 to 3.125. In case you’ve been living under a rock, here’s what happened to BTC’s price after the last three halving events:
- 1st Halving (Nov. 2012): BTC appreciated 9,766% in 1 year ($12 to $1,184).
- 2nd Halving (July 2016): BTC appreciated 2,877% in 1 year, 5 months ($649 to $19,326).
- 3rd Halving (May 2020): BTC appreciated 633% in 1 year, 6 months ($8,787 to $64,455).
If bitcoin’s fourth halving rhymes with the first three, we should be seeing a new all time high at some point in the latter half of 2025. And why does this pattern keep playing out with such predictability? It’s supply and demand, pure and simple.
Market participants gobble up BTC everyday. And that behavior doesn’t stop just because BTC’s supply gets severed. Thus, a steady demand for BTC with fewer coins hitting the market equals higher prices. Add to that the perception of scarcity, FOMO, and good ole market mania, and BTC blows its top. I don’t expect anything different this next time around.
And what about BTC’s price action in the 1 year run-ups prior to each halving? In all three instances, BTC’s price did the slow grind up to each halving event. This data aligns with Lark’s opinion in Monday’s newsletter that bitcoin is in Stage 1 / 13 (“Disbelief”) of the market psychology cycle.
Also, keep in mind that bitcoin has never hit a new all time high in the months leading up to a halving. So unless some crazy macro event moons BTC early, I’m expecting slightly ascending price action over the next year.
Do what you will with this information.
Another Bank Under Uncle Sam’s Gun
It appears that another US bank might be in trouble with the Eye of Sauron.
This time, it’s Cross River Bank, Circle’s newish banking partner after the stablecoin issuer dropped Silicon Valley Bank. News broke this week of the FDIC’s order for Cross River Bank to “eliminate or correct, and prevent [ . . . ] unsafe or unsound banking practices related to its compliance with applicable fair lending laws.” Note that the FDIC actually issued this order on March 8th. Circle announced their transition to Cross River on March 12th.
Cross River is one of the few remaining crypto-friendly banks left standing in the U.S. Besides Circle, CoinBase is one of the bank’s most prominent clients.
