Willy Woo has written a bullish note on Bitcoin on-chain signals today indicating his belief we have bottomed and fundamentals show we are heading upwards in the next few months. Here are some excerpts from his letter.

⁃ The bull market is intact with user growth continuing to climb higher. Macro indicators continue bullish.
⁃ Re-accumulation and recovery is still in play and is indeed strengthening, thereby creating a classic price to fundamentals divergence.
⁃ Long term investors are quietly absorbing coins unnoticed by the market. I expect this supply shock to squeeze the market upwards. 
⁃ Under technical analysis, the price action looks scarily bearish to speculators and chartists are pointing to a further price collapse to $20k, claiming we are in a bear market. The fundamentals do not support this.
⁃ The on-chain picture is strikingly bullish. A supply shock is quietly forming unnoticed by the market. 
⁃ Per Glassnode, the Bitcoin network is onboarding a healthy 32,000 new users per day which is a new high for 2021.
⁃ The newly launched Canadian Purpose Bitcoin ETF has added 4100 BTC to its holdings during this dip, supporting what we see on-chain; long term investors are buying.
⁃ When miners are culled from the network, the surviving miners hold their coins knowing the sell pressure from miners that went out of business has subsided and a price floor is in place. We can see this effect visually as compressions in the Difficulty Ribbon. This has historically been a reliable signal for price bottoms.

You can subscribe to the full letter including really great analysis and charts at willywoo.substack.com.

Here's a comparison of what Bitcoin did in 2013 and what we currently expect Bitcoin to do in 2021 as we reach new all-time highs sometime in the Fall.

What price do you expect BTC will end 2021 at?

Here’s a well written and researched article from Dragonfly Research on the investment opportunity with ETH. They forecast a ETH market cap of $3.7 trillion to $4.7 trillion in 10 years and a price of $35k to $45k.

https://medium.com/dragonfly-research/a-guide-to-understanding-eth-as-an-investment-6f0f393db591

I’m starting to write this week’s Coinstack newsletter. What topics would you like me to write about this week?

Here is our Ethereum Forecast for the rest of 2021. You can see how this cycle is quite similar so far to the 2017 ETH cycle.

We expect ETH will 3x from current levels and reach at least $7k by the end of 2021.

Here is our latest Bitcoin Forecast for the rest of 2021, comparing the current Bitcoin cycle to its first cycle in 2013...

We are expecting a "Double Peak" in 2021, reaching new ATHs by October and peaking around Dec 2021-Feb 2022.

This Bitcoin Net Entities Growth from Glassnode shows that we are almost certainly NOT in a bear market -- but rather are in a phase of consolidation and getting ready for another run later this year.

Here's the EARLY EDITION of the weekly Coinstack newsletter as a Google Doc only for our Telegram Channel subscribers...

https://docs.google.com/document/d/1rfydBR9S1V3QaxyOxaMKyqQ5DmBZmWXPYlLLbLKhhAE/edit#heading=h.iklxxfv33mw3

Inside This Week's Issue:

1. Double Peak Theory - Now’s the Time To Invest
- The Double Bitcoin Peaks of 2013 and 2021
- What’s Next for Bitcoin?
- The Double Ethereum Peak of 2017 and 2021
- What Our Analysis is Based On
- Now’s the Time to Allocate Capital to Crypto
2. Coinstack Alpha Fund up 30% From Bottom
3. Everyone I Follow Is Bullish Right Now
- Willy Woo is Bullish
- Lark Davis is Bullish
- Ryan Selkis is Bullish
- A Bullish Echo-Chamber?
4. The Bitcoin Mining Council Reports 56% Sustainable Energy
5. Coinstack Podcast Episodes
6. A Good Long-Term Crypto Portfolio
7. Tuesday Crypto Community Calls
8. Join Our Telegram Group
9. Who We’re Following Closely on Crypto Twitter
10. How to Get Started in Crypto Learning

Best Coinstack issue yet...

Introducing Double Peak Theory
https://coinstack.substack.com/p/double-peak-theory-nows-the-time

#bullish

NEW EPISODE: Here is our new Coinstack podcast from today:
Double Peak Theory & Our Dec 2021 Bitcoin & Ethereum Forecast

https://anchor.fm/coinstack/episodes/Double-Peak-Theory--Our-Dec-2021-Bitcoin--Ethereum-Forecast-e13val6

Queue it up to listen today... 🎧🎧🎧

Here’s a great write up about The Investment Case for Enzyme (MLN) by Hartmann Capital.

https://www.hartmann-capital.com/content/enzyme-mln-memo-activist-investment-1

Enzyme is the non-custodial platform upon which we manage the Coinstack Alpha Fund.

It’s token MLN just listed on Binance.

The Institutionalization of DeFi with Jeremy Allaire of Circle and USDC... fantastic episode of The Breakdown today...

Talking about how to get trillions of new corporate and institutional capital into a KYC’d FATF approved version of DeFi

https://podcasts.apple.com/us/podcast/the-breakdown/id1438693620#episodeGuid=4ee56a6b-a943-41d2-be0f-55f3aa5b6f15

🎧🎧

New Podcast for Tuesday July 6:
Is The Bull Market Coming Back? We Think So.

Anchor: https://anchor.fm/coinstack/episodes/Is-the-Crypto-Bull-Market-Coming-Back--We-Think-So-e140k99

Spotify: https://open.spotify.com/episode/5Hyg2y9DrAanRS19Q2sM2n?si=2cvNFRiYT46rgCY27kyDaQ&dl_branch=1

Episode Description
In this episode host Ryan Allis reads and comments on three recent posts from well-known crypto analysts Willy Woo, Lark Davis, and Ryan Selkis. Together, they lay out a clear, cogent, and very bullish case on prospects for Bitcoin, Ethereum, DeFi, and crypto markets in both the 2nd Half of 2021 and throughout the 2020s

Institutional DeFi is here...

https://cryptobriefing.com/aave-to-launch-institutional-markets-this-month/

I am now back in the USA for the next 2-3 months... For those in the USA, here’s an invitation to join me in person next weekend for a 4 day summer camp for entrepreneurs and leaders at the 145 acre Everland Retreat Center near Denver, Colorado.

http://bit.ly/summercampinvitation

It’s a group of 30 heart-centered entrepreneurs and leaders (and some crypto enthusiasts too) glamping together for 4 days at a beautiful retreat center. Send me a Telegram if you have any ?s. 👍💛

Today I am writing this week’s Coinstack issue. What topics would you like me to write about this week?

Token terminal launched PE ratios this week... here are the current best value investments based on their price to earnings ratios...

You can see the live data at:
https://www.tokenterminal.com/terminal/metrics/pe

Protocol revenue is revenue that flows to token holders either directly via cash flows to holders or indirectly via using the profit to buyback and burn token supply.

EARLY EDITION: Here is the early edition of this week's Coinstack newsletter as a Google Doc -- just for our telegram subscribers.

https://docs.google.com/document/d/1B8MPc6cOC0waKyfz3JsYWcYS7NRzR3t_vQA77Z5xy0A/edit#

In this issue:

1. DeFi Is Eating All of Traditional Finance
- The 2020s: All of Finance Being Rebuilt On Smart Contracts
- The Huge Promise of DeFi
- DeFi is Already Winning in Payments, Lending, & Exchanges
- The FAANG vs. UMACS Trade (Uniswap, Maker, Aave, Compound, Sushi)
- Institutional DeFi Is Now Here via Compound Treasury and Aave Pro
2. Token Terminal Launches The PE Ratio (Axie & QuickSwap Winning)
3. Ethereum Is Winning the Smart Contract Wars: The Latest Data
4. How to Avoiding Crypto Scams by Masha Prusso
5. Coinstack Podcast Episodes
6. A Good Long-Term Crypto Portfolio
7. Tuesday Crypto Community Calls
8. Join Our Telegram Group
9. Who We’re Following Closely on Crypto Twitter
10. How to Get Started in Crypto Learning