Crypto Essentials ONLY - Your weekly digest awaits…🤑

It’s Sunday, and boy have we got some juicy updates for you..

Welcome back to The Bull Trap my friend!

It’s Sunday, and boy, have we got some juicy updates for you this week.

Want to keep in the loop without all of the ‘unpleasantness’ of sifting through bots and avoiding scams on X?

Say no more, We’ve. Got. You.

In 3 minutes time, you’ll be able to bore the pants back on to your girlfriend quicker than whipping out a velcro wallet at the dinner table.

But you know what won’t bore her? The copious amounts of cash this intel is going to make you. 

Alright, straight to it…

Gone in 60 seconds…🏎️💨

Unfortunately, Nicholas Cage is still playing hardball regarding a follow-up to this all time classic.

But for those in a hurry, we’ve condensed this week’s digest for you. Read on for more info.

• President Watch🗳️ Trump wants all remaining $BTC to be mined in the USA and has declared he will ‘End Bidens war on Crypto’. Well that sounds great to us Donald!

• Crypto Newcomers 🆕 Two new gems launched this week: $BLS & $IO. More details below as to why we rate these coins.

• Inflation falls, Feds pause rates 🧱 Inflation report came in lower than expected at 3.3% and interest rates were held the same. This is bullish as it shows that inflation is coming down quicker than expected. Rates cuts = more spending. More spending = Retail investors return to crypto.

President Watch🗳️

Trump. Florida. Cryptocurrency. Three words that this community loves. 

This week, Trump came out very bullish, announcing:

The President went on to say that he wanted all remaining Bitcoin to be mined in the USA.

Obviously, Trump is clearly twerking for support right now and it’s likely that he will say anything at this point… 

But regardless, this is bullish.

What is undeniable at this stage is the former President’s message:

I like crypto. I am the only option who will represent your interests. Biden hates crypto.

There have been whispers of a democrat pivot on crypto. 

But actions speak louder than words.

The last four years have demonstrated that Biden (and key figures within the party) will do everything in their power to make crypto adoption difficult. 

Any pivot to a pro-crypto stance will seem extremely suspicious now. 

This is bound to get interesting as we get closer to the election.

Crypto Newcomers!

Problem: The huge number of new coins launching every week, making it impossible to identify new gems.

Solution: The Bull Traps new segment ‘Crypto Newcomers’ where we profile new coins that look the real deal.

Our focus on this newsletter has and always will remain utility plays. We love memes, but trading memes is an art. A pseudo-science that combines the ability to understand culture and spraying and praying that 1 in 10 bets covers your losses. 

In these emails we’ll usually stick to utility plays with a look to holding over a 1-2 year timeframe.

Today, we have two newcomers you need to know about.

$BLS & $IO

$BLS - a gaming gem

Token: $BLS

Market Cap: $6,362,866 (15/06/2024) 

Category: Gaming

Overview:

BloodLoop ($BLS) is a first hero-shooter game built on Avalanche that leverages the power of NFTs and DeFi economy.

Why invest?

This looks like a blue chip game in terms of gameplay but also the influencers and community that they have lined up. If you’re into gaming, then you should try to earn some $BLS through their play to earn airdrop. It is worth noting that the FDV is very high at $96 million considering the circulating MC is only just over $6 million. This means the unlock schedule is crucial if you plan to hold this coin over a longer term timeframe (1 year plus). DYOR, but definitely one to watch. NFA.

$IO - a future Ai powerhouse?

Token: $IO

Market Cap: $492,174,926 (15/06/2024) 

Category: Artificial Intelligence (Ai)

Overview:

Io.net ($IO) is the world’s largest decentralized computing network that allows machine learning engineers to access scalable distributed clusters at a small fraction of the cost of comparable centralized services.

Why invest?

This project ticks all the boxes. The branding is clean. The community has been hyping this for months. But most importantly, it has a working product from its launch, and it solves an extremely expensive problem for users. 

Borrowing GPU power.

If you have no interest in computers, this may evade you. 

But GPU is hard to come by. High quality graphics cards are very expensive. But when it comes to AI, this is also so impractical to own. 

IO aims to harness the power of users' spare GPU, to make it cheaper and more efficient for businesses and potentially individuals to access. 

If this works, this could be huge. 

The only problem we see right now is that this is already a very high MC for a new coin. 

Could $IO 10X from here? 100%. 

But that would make it a $5 billion MC. This probably isn't the pick for you if you’re looking for a 100X opportunity.

We would classify this as a mid cap investment. DYOR/NFA.

Inflation falls, Feds pause rates 🧱

Brick by brick - it’s coming.

Why are we so obsessed with the American economy? 

Answer: Because it is the driving force of the world economy.

So a better economic climate in the US = more money flowing into crypto. 

On Wednesday, we witnessed the beginning of a large turning point. 

Inflation figures came in lower than anticipated at 3.3% (May). 

This is big because when inflation lowers, the Feds can begin to lower interest rates.

The idea here is that when interest rates are lowered, people spend more money. 

From a retail perspective, it becomes more incentivised to spend money on items like crypto.

From an institutional perspective, it is now more important to find opportunities to make a better yield on returns. 

Why go searching for new investment opportunities when you can leave money in the bank and claim extremely high rates in interest payments?

Early indicators suggest that rates could be lowered as soon as September. 

This would be huge with the election also providing what will likely be a positive catalyst.

The stars could align here for an absolute rip roaring end to the year.

That's it for this week's essentials. Let us know if there's anything you want us to cover more of!

Til next time.

The Bull Trap