Dear inspired hustlers,
Big news alert!
Bitcoin is becoming harder to find in the market. Why?
Because more people want it than ever before, and there's not enough to go around.
This is the first time in history that the demand for Bitcoin from long-term holders has outpaced the amount of new Bitcoin being made available. And get this — it's going to get even rarer after the 2024 halving event.
When the halving happens, the rate at which new Bitcoin is made will be cut in half. That means there will be even less Bitcoin to go around. And when something is scarce and everyone wants it, what happens?
Its value goes up!
So, what does this mean for you? Get ready for some exciting times in the world of crypto!
The Battle for DeFi Begins ⚔️
Hold onto your hats, crypto enthusiasts, because the Securities and Exchange Commission (SEC) is ramping up its efforts against crypto projects.
In 2023 alone, the SEC took action against a whopping 46 crypto companies, marking an all-time high.
And now, they've set their sights on a new target: Uniswap.
A Wells Notice from the SEC is like a warning sign, indicating that they've spotted violations of securities laws and legal charges could follow. In simpler terms, it's a sign that things are not looking good.
Uniswap's native token ($UNI) took a hit, dropping by 18% upon hearing this news.
This is just the beginning. The SEC hinted back in September that they had more in store for the crypto industry, especially targeting DeFi projects.
So, buckle up, folks. The War on DeFi has officially begun. It's going to be an interesting ride! 🚀
U.S. CPI Results Are In! 👀
Ladies and gentlemen, brace yourselves because the latest U.S. CPI (Consumer Price Index) numbers are out, and they're not looking too rosy.
The CPI measures how much prices for everyday things like housing, clothes, food, and services change over time. Last month, it went up by 0.4%, which is higher than what was expected. And when we look at the year-over-year inflation rate, it's sitting at 3.5%, also higher than expected.
But wait, there's more! The CPI doesn't show the whole picture. Check out how much prices have gone up for these everyday items over the past year:
Car Insurance: Up by 22%
Domestic services (like housework): Up by 10.9%
Beef: Up by 7.6%
Hospital Services: Up by 7.5%
Homeowner expenses: Up by 5.9%
And how did the markets react? Well, many of the top 100 cryptocurrencies are dropping like bricks into the ocean (or in this case, the Red Sea).
So, buckle up, Roaders. We might be in for a bumpy ride in the coming days.
As we wrap up, we hope our newsletter has helped you understand the ongoing developments in the crypto market. Remember, it's important to stay informed and make smart choices as you explore the world of cryptocurrency.
Thanks for being part of our journey. Until next time, happy investing!
Zain from team inspired analyst
-Signing off!
Disclaimer: The content in this newsletter is for educational purposes only and should not be considered financial advice. Cryptocurrency trading involves risk, and past performance is not indicative of future results. Before making any financial decisions, conduct your research and consult with a qualified financial advisor. Use the content at your own discretion and risk. This is not financial advice.