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  • 🚀 DeFi Research - Round Up: 2024 Outlook, Bitcoin Bull Market #5 and Coinbase

🚀 DeFi Research - Round Up: 2024 Outlook, Bitcoin Bull Market #5 and Coinbase

Institutional Crypto Research Written by Experts

December 01, 2023

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ON OUR RADAR

👇 1) SEC Bitcoin Spot ETF approval window is between January 5 to January 10, 2024 (either Monday Jan 8, Tuesday Jan 9 or Wednesday Jan 10)

👇 2) VC firm Tiger Global writes down Bored Ape Yacht Club (BAYC) investment by 69% and NFT platform by 94%.

👇 3) MicroStrategy files for $750m stock offering, likely used to buy more Bitcoins

👇 4) Binance to delist and end support for its BUSD stablecoin in December 2023. Philippines blocks Binance. Judge denies CZ from leaving US before sentencing.

“You can’t stop things like Bitcoin. It will be everywhere, and the world will have to readjust. World governments will have to readjust” —John McAfee, Founder of McAfee

SCORECARD OF OUR 2023 OUTLOOK

In our 2023 outlook report, we were bullish on:

Readers of this DeFi Research weekly:

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What’s going on here?

Summary: This is Part 1 of a two or three-part series. What are the halving cycles predicting, what is our one-year new high model indicator saying, and what does our mid-halving cycle model suggest? There are a few macroeconomic implications for Bitcoin, notably inflation, China, and interest rates. All about Bitcoin’s 2024 outlook.

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What’s going on here?

Summary: The first Bitcoin bull market occurred in 2011, driven by the narrative that Bitcoin could be a new payment mechanism. The 2013 bull market followed this, as Bitcoin gained recognition as a store of value during the European debt crisis. Additionally, the discovery of Bitcoin by the Chinese, who faced limited investment opportunities due to capital controls and were bound to real estate, stocks, and gold, contributed to this surge.

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Summary: On September 28, we published our report “Bitcoin Miners, the Ultimate Bet for 2024?” which included potential upside targets for other Bitcoin-related stocks like Galaxy and Coinbase. Since our report two months ago, Coinbase has rallied by +80%. The rally in Coinbase is a sign of pent-up demand from TradeFi investors who want crypto exposure – this is why any Bitcoin spot ETF will be a big success.

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