***Qrafty smiling the biggest smile*** Aloha, crypto curious! I am Qrafty - the crypto lovin’ honey badger 🦡 !

Welcome to Coinqraft – the daily crypto newsletter for busy but curious people who don’t have time for the crypto drama!🌟

🦡   Qrafty is back with juice and news crypto jungle, so let’s dive in 📰 🌟

1. Michael Saylor: BTC will do 10x

2. An NFT sold for $110,000

3. Jobs Got Revised Lower, Again

Bonus: US banks had some technical problems

10X

Michael Saylor, the wizard of MicroStrategy, is on fire with his Nostradamus act, predicting a year that's set to be the stuff of financial legends. Saylor's enthusiasm and conviction isn't something you come across every day. It’s a beautiful story unravelling before our eyes and his determination is worthy of appreciation.

What's got him all giddy this time? Well, it's a concoction of Bitcoin-related happenings that's about to hit our screens in the next 12 months. First on the list is Bitcoin's fancy April affair, and no, it's not a birthday party. It's a "halving" event, meaning those mining rewards are about to be sliced in half. This means that there will be a Bitcoin supply shock in the months following the halving.

Less Bitcoin flooding the market? Saylor's got his bets on this to stir the pot. It’s not his only bet, either. He’s got this grand theory that as the heavyweights of the financial world dive headfirst into Bitcoin, they'll bring in some much-needed stability and, obviously, a huge upsurge in price.

How huge, you ask? (That’s what she didn’t say… Lame joke, Qrafty will see himself out)

About 10x huge. Why?

“You're going to see $12 billion of natural selling per year converted into $6 billion of natural selling a year, at the same time as things like spot bitcoin ETFs increase the demand for bitcoin,” Saylor told CNBC.

As if it wasn’t clear until not, he also advocates for Bitcoin as the only real and authentic crypto currency without an issuer: “[…] we need to rationalize away from the hundred thousand crypto tokens, yoyo coins that people are manipulating to Bitcoin. Bitcoin is an asset without an issuer, it is the one universally recognized protocol that is a commodity in the space[…]“.

Remember Michael’s motto: You can never have too much Bitcoin.

🙃 Qrafty hopes that today’s main story brought brave badgery value to you! Now it’s time for a break, you deserve a bit of fun! 😇 👇️

Sam Is Gone For Good. Who’s Next?

Sam is done, that’s clear. He is young and he is definitely an idiot. But he’s not a villain. Sam Trabucco, CZ, Justin Sun, the people behind Buterin, even SBF’s parents definitely fit the profile.

Sammy, the effective altruist? An idiot who got lost in the craziness of it all and spiraled down into a swamp of bad and worse decisions which affected people’s lives. An absolute guilty incompetent and fraudulent idiot, but not a villain. He was and is the hate vector, all that energy was supposed to be focused on him.

Why?

Because a lot of high profile people were involved in this disaster and they demanded blood. These are people who aren’t fooled that easily, because they’re the ones doing the fooling.

They needed that in order to take the heat off of them. Way to many high profile names were involved. All that hate had to be channeled somewhere to provide a closure for the rest who were involved and weren’t compensated for their loss.

Question now is: who’s next? And when? Because there are maaany more who need to be tried in this case. And most are roaming free and careless.

Several US banks hit by deposit delay issues

On Friday morning, customers from Bank of America, Chase, US Bank, Truist, and Wells Fargo reported experiencing difficulties, CNN reports as indicated by Downdetector. Additionally, some users on X (formerly known as Twitter) voiced concerns about not receiving their payments on Friday.

Later in the afternoon, the Federal Reserve notified the banks that the issue stemmed from a "processing glitch" at the private sector operator of the Automated Clearing House (ACH), which is a nationwide network responsible for transaction processing. Qrafty doesn’t want to sound too weird, but is this the prelude to something bigger or just a fluke?

Jobs Got Revised Lower, Again

In the past 9 months, 8 reports have been revised lower. Not a lot to comment on that. It’s the headlines that are important. After the headlines pass, numbers can be fixed, as they are away from public’s attention.

Can Spring Start With a Flower?

It seems like the NFT game just had a slam dunk moment! An Ethereum NFT trading card featuring the NBA rookie sensation, Victor Wembanyama, just smashed records by raking in over a jaw-dropping $110,000 on a fine Thursday.

This digital collectible managed to outshine the sale of one of Victor's physical trading cards. The previous champ, a physical Victor Wembanyama card, strutted its stuff back in August, fetching a cool $67,333 on the Goldin auction platform, and that included the buyer's premium. Not too shabby for a "pre-rookie" card, right before Victor made his NBA debut.

So, what's the big takeaway? Could this be a glimmer of hope for NFTs? Well, it just might be the adrenaline shot the NFT world needed. Or not.

Hey hey 🙃 Qrafty hopes you are enjoying the experience here and would like to regularly get Qrafty’s letters!

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Trading is like trying to catch a falling knife, but occasionally, you'll find a spatula.

Qrafty’s thought of the day

Other Stories

XRP approved by Dubai Financial Authority

The Dubai Financial Services Authority (DFSA) has approved under this regime since external applications were acceptedgreenlit the use of XRP in the Dubai International Financial Center (DIFC). This marks XRP as the first virtual asset.

Jack Dorsey’s Block sold a lot of BTC

Block, Inc., led by Jack Dorsey, revealed a 37% increase in Q3 bitcoin revenue late yesterday, with earnings of $2.42 billion as opposed to $1.77 billion in the same period of 2022. Additionally, the financial services firm witnessed a 22% surge in Q3 bitcoin gross profit, rising from $37 million in the previous year to reach $45 million.

RNDR moved to Solana

The Render Foundation has effectively transitioned Render Network (RNDR) from Ethereum to Solana, introducing an Upgrade Assistant and providing a grant of 1.14 million RNDR tokens. This grant serves as an incentive for token holders to move their tokens to Solana via Wormhole.

SEC wants summary judgement

The SEC has initiated a motion for a summary judgment in the legal case involving Terraform and Do Kwon. This judgment, made without a complete trial, relies on statements and supporting evidence.

Coinbase ready for ETF

Coinbase has expressed the view that a Bitcoin ETF will bring enhanced credibility and increased liquidity to the cryptocurrency market. During an earnings call, Coinbase's Chief Operating Officer, Emilie Choi, remarked, "We are well-prepared to make a strong start." Despite a 4.7% decrease from the previous quarter, Coinbase exceeded analysts' expectations by reporting third-quarter revenue of $674.1 million, signifying a 14.2% increase from the corresponding period in the previous year. Analysts had projected revenue to be $651 million.

Market Whispers

Bitcoin had a second red day. Don't panic yet, it's still in the upper range, with support at $34000. But it looks like it wants to retest the low range. First target, that wick at ~$33,350 and second target ~$32,500. If your looking for longs, and if it doesn't reach those levels first, the only comfortable long will be if it consolidates above the high, at ~$36,000, with next target at ~$37,200-$37,600. Take it easy, it's weekend. Most probably Sunday night will see some action.

Ethereum is trying not to die along with Bitcoin's correction. It made a new low on daily, taking the last 4 days lows with a wick to $1,777. You really cannot trade Ethereum without Bitcoin in mind, as it is co-dependent on it… as the entire market, actually. That's a bit concerning to be honest, in a real bull market, when Bitcoin ranges, ETH has time to grow and alts along with it.

Is this a sign that we are not yet in a real bull run? Honestly, Qrafty will be more convinced when ETH reaches $2000. It was left behind pretty bad by these last moves of Bitcoin. Targets remain the same as yesterday. Less trading, more nature! Enjoy your weekend!

Qrafty ends channeling his inner trader.

Today is JAPANESE CULTURE DAY!

That’s all from Qrafty 🦡 for today! Qrafty thanks you and wishes you to live each moment as if you are listening to the music you love most!

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