First real fight in crypto

February 27, 2024 • Reading Time:6 minutes

GM. Today on Money Printer Go Brrr newsletter:

  • Ben ‘Bitboy’ Armstrong vs HarryPotterObamaSonic10Inu’s meme coin dev

  • Bitforex stops working

  • Top analyst: Bitcoin correction after halving

  • 4 things you should know

Ben ‘Bitboy’ Armstrong vs HarryPotterObamaSonic10Inu’s meme coin dev

In a world where memes meet fists, BitBoy and “More Light” (a meme coin dev) decide to settle their differences in a ring. Because, why not?

The effect?

  • This wild fight between BitBoy and a memecoin dev shook up the coin prices. It's like a real-life drama affecting virtual money!

☝️ That’s because he won. Armostrong’s coin $BEN, rose by 90%. On the other hand:

  • Following Armstrong’s win, the price of HarryPotterObamaSonic10Inu (which goes by $BITCOIN ticker 😁 ) fell more than 20% in 4 hours, from $0.052 to $0.040.

💡 What’s $BEN

→ it’s a meme coin turned into an utility token,

→ main utility is done through education,

→ at time of writing, it has 22,000 holders and a market cap of $5M.

💡 What’s HarryPotterObamaSonic10Inu

→ it’s a 101% meme coin, with an according website (my antivirus found it as blacklisted, dunno why),

→ its mission is to incentiveze the creation of meme content,

→ at time of writing, it has 14,000 holders and a market cap of $2.5M.

These tokens mock the absurdities of the industry, but for some, it’s a form of investment and sometimes they bring profit… sometimes they bring losses.

Despite the odds, BitBoy emerges victorious, proving once again that the court of public opinion is the best investment advisor 😆 .

Want to watch the fight? 👉️ https://www.youtube.com/watch?v=_tZo7S5mdnc

Bitforex stops working

BitForex's trading volume plummeted from $2.5 billion to $1 billion between February 22 and 24, with data suggesting possible volume overstatement by up to 100 times.

Then, out of the blue, their website just goes poof after they saw $57 million walking out the door from their wallets.

💡 What happened?

→ Bitforex withdrew ~$57M from their hot wallets

→ a month ago their CEO resigned

→ between 22 and 24 Feb their volume dropped by 50%

→ they falsely claimed about their volume by 100x higher

💡 Why worry?

→ Bitforex holds 18% of the $TRB supply, and

→ 7% of the $OMI supply

→ people are worrying ‘wen dump’

→ last year the Japanese SEC flagged Bitforex for operating without a license

Remember 💡 Your keys → your crypto.

If you don't hold your keys, your crypto might just be part of the next disappearing act.

And let's be honest, we all love a good magic show, but not when our money is the one being sawed in half.

Top analyst: Bitcoin correction after halving

Michael van de Poppe, this crypto guru from Amsterdam, is seeing big things for Bitcoin.

He's talking about it hitting somewhere between $54k and $58k soon.

The chart:

→ on short-term a correction is awaited at ~$47k before jumping to the initial target

💡 On Saturday, he tweeted that the price is likely to reach as much as $300,000-$600,000 thanks to the institutional demand for Bitcoin.

Michael has also posted recently a guide on how to get into altcoins → but remember: always DYOR and NFA.

Extra hopium

Michael Novogratz, CEO of Galaxy Digital, is all in on Bitcoin's future, saying the old-school finance world is gonna give it a major boost.

💡 His why’s

→ he's betting that more folks, especially the younger crowd, are gonna start adding Bitcoin to their portfolios.

→ people are now picking Bitcoin ETFs over the gold ones — ditching your grandpa's old watch for a shiny new smartwatch 😁 .

→ Novogratz is throwing out some big numbers — Bitcoin might hit its old peak of $69,000 soon and could even blast off to $150,000.

→ But, he's also giving us a heads up that there might be some bumps along the way, with Bitcoin possibly taking a dive to around $45,000 or $42,000.

4 things you should know:

Meme Of the Day

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