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  • šŸ„› Bitcoin is pumping again! Here's why... šŸ‘€

šŸ„› Bitcoin is pumping again! Here's why... šŸ‘€

PLUS: welcome to the Degen Den šŸ¤‘

Todayā€™s edition is brought to you by The Crypto Code ā€” The premier research and education company teaching thousands worldwide how to use automation to secure daily profits in crypto.

GM. This is Milk Road, the crypto newsletter that gets better with every sip, no sugar needed.

Hereā€™s what we got for you today:

  • The 4 most interesting things we saw yesterday šŸ‘€

  • Put your crypto trading on autodrive šŸš—

  • Welcome to the Degen Den šŸ¤‘

  • Bitcoin fees are up 1,000% since August šŸŖ

THE 4 MOST INTERESTING THINGS WE SAW YESTERDAY šŸ‘€

We have 4 nuggets of news for you today. 

Iā€™m talking about nuggets so good youā€™ll be looking for honey BBQ sauce to dip ā€˜em in... 

NUGGET #1: The SEC could approve all 12 spot Bitcoin ETFs starting today.

James Seyffart and Eric Balchunas are two ETF experts who work for Bloomberg. 

Yesterday the analysts released some big news on the Bloomberg Terminal (aka the fancy $20,000 per year software that stock traders use to get info). 

It was about spot Bitcoin ETFs. Donā€™t worry, Iā€™ll save you the $20K:

According to the experts, thereā€™s a small 8-day window (between now and Nov. 17) where the SEC could approve all 12 spot Bitcoin ETF applications at once. 

On a related note, the SEC is also reportedly in ā€œopen talksā€ with Grayscale about converting its GBTC fund ā†’ a spot Bitcoin ETF. 

Buckle up Roadersā€¦ whether itā€™s today, tomorrow, next week, or early next year - it seems a spot Bitcoin ETF is coming soon. 

NUGGET #2: OPENSEAā€™S VALUATION HAS PLUMMETED 

In January 2022, OpenSea was the King of NFT marketplaces. 

It had an 89% market share, raised $400M+ from VCs, and had a $13B valuation (!)

Thatā€™s 2x more valuable than Applebees, Dennyā€™s, and iHop - combined. (And you canā€™t even order a grand slam pancake stack from an NFT marketplace).

Well, fast forward to todayā€¦ OpenSea has less than 40% market share, and its lead investor, Coatue Management, said it marked down its investment stake by ~90%. 

Meaning that (on paper) OpenSeaā€™s valuation plummeted from $13B ā†’ $1.4B in less than 2 years. 

Ouch. 

NUGGET #3: YUGA LABS COFOUNDER GOES ON AN NFT BUYING SPREE

Speaking of expensive JPEGsā€¦one man has singlehandedly revived the NFT market recently.

Government name: Wylie Aronow. 

Nickname: Gordon Goner.

Known for: Co-founding Yuga Labs and the Bored Ape Yacht Club NFT collection.

Over the last week, heā€™s made some BBB (Big Baller Buys):

  • CryptoPunk: ~$1.14M

  • Doodle: ~$130,000

  • Meebit: ~$81,000

  • Pudgy Penguin: ~$75,000

In total, Wylie spent ~$1.5M on NFTs this week. Canā€™t stop, wonā€™t stop. 

NUGGET #4: TBT - DAVE RAMSEY AND BITCOIN

Itā€™s that time of the weekā€¦ Throwback Thursday (TBT). 

The day we reminisce on the simpler times when your biggest worry was what time the ice cream truck would show up in your neighborhood. 

Todayā€™s throwback is a Dave Ramsey clip from 9 years ago. 

Real quick, if you donā€™t know Dave heā€™s a guy who built a huge empire (estimated to be worth a couple hundred million dollars) by helping people get out of debt. 

Heā€™s like your bald, rich uncle whoā€™s always yelling ā€œDebt bad!ā€ at the family parties. 

And in this clip, Dave gets asked about his thoughts on Bitcoin. He says stuff likeā€¦

  • ā€œBitcoin is a really good way to turn $1M into nothing.ā€ (btw, BTC was ~$550 at the time, so a $1M investment then = $68M today. Ha).

  • ā€œOne of these computer nerds just flips a switch and the whole thing is gone! Thereā€™s no value.ā€

I wonā€™t spoil all the fun, but itā€™s worth the watch! 

Navigating the crypto markets can be a 24/7 endeavor fraught with the same level of attention as a round-the-clock job.

That's where The Crypto Code stands out with its groundbreaking automated trading technology.

Theyā€™ve developed a ā€œset-and-forgetā€ system that has been delivering crypto participants peace of mind and consistent returns.

The best part? You can get $10 in Bitcoin just for checking out their free workshop.

Hereā€™s what attendees can expect:

  • Case studies of past campaigns that generated up to $4,000/week

  • An inside look at a breakthrough campaign that made $8,803 in just two weeks

  • Stories from other students who've gone through the program and had success

And spots are filling quickly.

WELCOME TO THE DEGEN DEN šŸ¤‘

Iā€™m a simple guy. I like my pizza hot, my beers cold, and my crypto investing simple. 

Thatā€™s why I mostly just ā€œbuy and holdā€ things I think could be big over the next 10-20 years. 

But every once in a while, I get an itchā€¦ an itch for a degen bet.

These are high-risk, high-reward bets. 

Sometimes theyā€™re educated gambles... other times, not so much.

And whenever I get this itch, I step into the Degen Den:

The Degen Den is where we throw traditional investing advice out the window and then set the window on fire.

Itā€™s the realm of the bold and the only place where ā€œvolatileā€ is a compliment. 

But first, letā€™s go over some rules:

  • None of this is financial advice.

  • We arenā€™t going to tell you which tokens to buy, weā€™re just gonna show you general trends and highlight tokens that have performed well recently.

  • I repeat, none of this is financial advice. If your heart rate hits over 150 beats per minute while reading this, please call 911.

Got it? Good. 

Ok, so there are two types of tokens that have been pumping lately:

1/ A.I. Tokens - many A.I. crypto projects and tokens have been seeing volume with the recent OpenAI conference. 

None of these projects are directly tied with OpenAI, but theyā€™ve still seen success-by-association. 

Itā€™s like your cousin winning the lottery - you might not have pulled the lucky numbers but thereā€™s a good chance youā€™ll still see some green coming your way. 

Here are some of the top-performing A.I. tokens over the last 30 days:

  • Injective ($INJ): +115%.

  • Fetch.ai ($FET): +74%.

  • Autonolas ($OLAS): +44%.

  • Bittensor ($TAO): +42%.

2/ Gaming tokens - a bunch of OG gaming crypto projects made big announcements recently, causing major price pumps over the last month:

  • Illuvium ($ILV): +116%. Illuvium is launching a new crypto game on the Epic Games Store (180M users) on Nov. 28.

  • Immutable X ($IMX): +56%. Immutable X is partnering up with Ubisoft to build a new web3 gaming experience.

  • StepN ($GMT): +47%.

  • Axie Infinity ($AXS): +36%.

And with speculation that GTA VI could launch next year with a crypto-powered in-game currency, interest in gaming tokens has fully resurged.

BITE-SIZED COOKIES šŸŖ

Bitcoin fees have jumped 1000% since August. The real winner here? Bitcoin miners.

Robinhood Q3 earnings report reveals plans to launch crypto services in EU. Taking their crypto initiatives across the pond for the first time.

Blackrock just filed for an iShares Ethereum Trust. As hopes for Bitcoin and Ether spot ETFs heat up.

Binance is launching a self-custody crypto walletGoing all in on their mission to bring crypto to the masses, all from one platform.

Kraken is reportedly in talks with Polygon, Matter Labs, and Nil Foundation to launch a Layer 2 network. Following in Coinbaseā€™s footsteps of partnering with Optimism (OP).

MILKY MEMES šŸ¤£

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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.

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