GCR: The Crypto Legend Who Turned $1k into Billions!
GCR (Gigantic-Cassocked-Rebirth) is hailed as one of the greatest crypto traders ever. Known for his sharp predictions, GCR turned $1,000 into hundreds of millions, capturing the crypto world’s attention.
Work Ethic and Hustle GCR pushed for relentless trading, advocating over 120 hours per week. He confessed to not taking a break for 3.5 years. While inspiring, this extreme dedication raises concerns about long-term sustainability.
Master of Memecoins In 2021, GCR championed memecoins, foreseeing their rise despite skepticism. He famously predicted: “20 ETH in SHIB, hold for 5 months, and you’ll get $40M.” By May 2021, just 2 ETH in SHIB had soared to over $40M, cementing his reputation for foresight. Political Bets and Alameda Research In 2021, GCR bet big on Trump winning the 2024 election. His position became so large that he turned to OTC deals with Alameda Research due to a lack of exchange liquidity. Later, he shifted to betting on Kamala Harris after Biden’s withdrawal, citing her strong debate performances.
The Do Kwon Challenge and LUNA Collapse One of GCR’s most famous moves was his $10M public bet against LUNA founder Do Kwon, predicting LUNA’s collapse. Using FTX derivatives, GCR shorted $10M of LUNA and made $2.3M in two months. When LUNA crashed to near zero, he hedged his $20M position for just $0.72.
Final Predictions In 2023, GCR tweeted: “Money printing won’t stop. Eventually, holders will outperform traders.” He also predicted Ethereum would reach $10,000, calling it “programmed.” GCR’s story is one of brilliance and boldness, but it also sparks debate about the cost of extreme hustle. Could his predictions define crypto’s future?
China has launched a massive stimulus package: interest rate cuts, real estate stimulus, and the stock market is up 25% in a week! Will this affect the Bitcoin market? Stay tuned!
The financial market is kind of like that meme with the little dog sipping coffee in a house on fire. But is it really that bad? CME futures are betting on a rate cut from the Fed in September. The odds? 56% for a 0.25% cut and 44% for a 0.50% cut. It's almost like flipping a coin!
But hold on! Some experts believe we won't see a series of massive cuts. Why? They’re not buying into the whole imminent recession narrative. In fact, the view is that we're going through a "normalization" after the 2020-2022 pandemic.
Now, here's an interesting detail: historically, the end of the yield curve inversion tends to coincide with the Fed cutting rates, and that’s when we usually see a mild recession. But could this time be different?
The message is clear: stay sharp and invest accordingly!
The U.S. presidential elections are stirring up the crypto market!
Experts believe that regardless of the winner (whether Trump or Harris), Bitcoin stands to benefit due to expectations of a rising budget deficit. Trump is seen as more crypto-friendly, even hinting at creating a Bitcoin reserve in the U.S., while Harris' stance on the matter remains unclear.
Global banking giant Standard Chartered has jumped into the election-based Bitcoin predictions. According to their forecast, if Trump wins, BTC could skyrocket to an impressive $125,000! With a Harris victory, they predict a more conservative $75,000.
But wait, there's more!
Investment firm Bernstein also weighed in with their predictions. They speculate that under Trump’s leadership, Bitcoin could reach $90,000 (about R$ 500,000) by the year’s end! Trump’s promises to make the U.S. the global crypto capital, create a national Bitcoin reserve, and appoint a pro-crypto SEC chairman are exciting the market.
On the flip side, if Harris wins, Bernstein forecasts Bitcoin might drop to the $30,000 to $40,000 range. Harris' lack of a clear stance on cryptocurrencies is leaving investors uncertain.
No matter the outcome, regulatory reforms are expected to keep moving forward, driving Bitcoin’s growth in the long term. 2024 is shaping up to be an exciting year for the crypto world!
Bitcoin was buoyed by inflation data that showed the situation is under control. Fortunately, after a while, the positive correlation between the US stock market and Bitcoin has returned today, with Bitcoin trading in the $59,700 range 🤗 $btc #btc
Bitcoin bottomed 547 days prior to the 2016 Halving but topped in its Bull Market 518 days after the 2016 Halving
Bitcoin bottomed 517 days prior to the 2020 Halving but topped in its Bull Market 549 days after the 2020 Halving
Bitcoin bottomed 517 days before the 2024 Halving but may very well top in its Bull Market ~549 days after the 2024 Halving
That's October 2025
History suggests two takeaways:
1. The Halving acts like a mirror. Bitcoin Bear Market Bottoms occur a similar amount of days prior to the Halving compared to the amount of days its takes for Bitcoin to form Bull Market Tops after the Halving
JP Morgan: Ethereum ETF Demand Weak but Bitcoin Comparison Is Misleading
JP Morgan analysts have observed that the demand for Ethereum ETFs has been relatively weak compared to Bitcoin ETFs. However, they caution against directly comparing the two, arguing that such comparisons are like comparing "apples to oranges." The bank points out that the market dynamics, investor base, and regulatory environment for Ethereum are distinct from those of Bitcoin. As the crypto landscape continues to evolve, the differences between these two leading cryptocurrencies highlight the need for nuanced analysis when assessing investment opportunities.