3 Bullish factors for crypto

Author

Mr. GoBrr
March 21, 2024 • Reading Time:9 minutes

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Good Morning,

Today, on Money Printer Go Brr newsletter:

  • 3 Bullish factors for Crypto - What happed at the FED meeting?

  • What is the hottest blockchain right now;

  • The greatest threat to Ethereum, right now;

I recommend reading our newsletter on the distraction-free MECO app.

BTC & ETH

3 Bullish Factors for Crypto - What happened at the FED meeting?

As I mentioned yesterday, a group of individuals controls the dollar's monetary policy.

Jerome Powell, their boss, is akin to a GOD in the world economy.

Yesterday, this group met and relayed their decisions to us plebs.

Here's a recap of their decisions:

  • The group led by Powell has decided not to change the main interest rates, keeping them at 5.25-5.50%, for the fifth meeting in a row.

  • FOMC signals that it will make 3 rate cuts in 2024. This is despite the fact that they think progress toward their goal of two percent inflation in the U.S. will be slower than expected.

  • US Fed Chair Powell said 'inflation is still too high' but still expects inflation to ease gradually

  • Bonus: Federal Reserve is not working on a CBDC, and has no plans to propose one

Why this matters?

The market perceived this news positively, with Bitcoin trending upwards and reclaiming its position at $67,000.

If the FED lowers interest rates this year, more money will flood the markets and asset prices will rise.

This is extremely bullish for Bitcoin.

3 bullish factors for Bitcoin this year:

  1. First, we had ETF approval.

  2. In 29 days, there will be a Bitcoin halving.

  3. Future FED rate cuts will put more money in the market.

If Bitcoin PUMP, the rest of crypto market will also pump.

This is the recap of what you should know, but for more details you can check out the articles bellow:

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What is the hottest blockchain right now

Right now BASE is on fire 🔥

Base is a layer 2 blockchain launched by COINBASE. Yes, CoinBase the exchange.

Weekly New Users

Weekly New Users

Why is BASE is on fire? 🔥

  • Transaction fees on Layer 2 networks, like Base, have significantly dropped to less than a cent following the update to Ethereum.

  • Memecoins are becoming popular on Base, much like what happened with Solana, due to their inexpensive and speedy transactions. Some of these coins have increased in value between 100%-400% in just one day.

  • Famous artists and creators are beginning to roll out new projects on this platform. For instance, a popular NFT artist named XCOPY released a new NFT collection yesterday. It achieved over 1 million mints within 24h.

  • The network’s daily trading volume on Tuesday recorded $356 million, a 51% increase compared to the previous day.

  • Its total value locked has also reached its all-time high of $745 million.

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The greatest threat to Ethereum, right now

The biggest threat to Ethereum is the SEC considering it a security.

The SEC aims to demonstrate that Ether is a security.

What is a security?

→ A security, in financial terms, is like a document or certificate that signifies ownership.

→ It gives you some rights to a company's assets or earnings. For example, if you buy a share in a company, that share is a security.

→ It indicates that you have a little piece of the company, and therefore, a right to a little part of the company's money or properties.

Currently, the Crypto community is split into two factions:

  • Those who believe that ETH is a security

  • And those who believe it's not

I’ll provide you with resources from both factions to analyze their arguments yourself.

Faction 1: Those who think that ETH is a security

1/Initially, the SEC regarded ETH as a security.

Watch below twitter video.👇

ETH SEC Security

Click on image for video

2/ The "ETH is a security" faction created some memes to prove their point:

ETH MEME

Click on image for twitter post.

3/"Hey SEC, ETH is a security" - A YouTube video with strong arguments from Bitcoin University.

ETH Security

Click on image for youtube video.

Faction 2: Those who think is not

1/ Paul Grewal - Coinbase Chief Legal Officer

2/ Ben Armstrong - aka BitBoy

3/ Adam Cochra

Adam Cochra

4/ An anonymous user uses the SEC chairman's words against him.

SEC chairman's words

Click on image to see the video.

What do you think? Is Ethereum a security?

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Meme Of the Day

MEME of today

MEME of today

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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.