TheBRRR’s Thoughts

GM,

Elon Musk has had a week. From telling Disney’s CEO Bob Iger to GFY live on stage at The New York Times’ Dealbook event to delivering the first Cybertruck, no man on earth was more spoken about.

The not-so-subtle message for Iger came in response to Disney’s advertising boycott of Elon’s X platform.

Scoreboard? Disney’s stock is down 35% from its pre-covid high while Tesla has quadrupled.

Today we’re covering Tesla’s Cybertruck launch event and market reaction and the recent bullish price action in bitcoin.

Editor’s Note: We’ve released V1 of our technical analysis chatbot. Premium subscribers can see the link in the premium section at the bottom of the email. I released a preview of what it can do in this post, where I ask it to analyze the daily and hourly bitcoin charts.

AI & Tech News

Tesla's Cybertruck Launch: A New Chapter Amidst Investor Scrutiny

WHAT HAPPENED:

• Tesla's Cybertruck Hits the Streets: Tesla launched its long-awaited Cybertruck with an event last night. The base version starts at $61,000, offering up to 470 miles of range. This marks the culmination of a project that experienced multiple delays since its announcement in 2019.
  Performance and Utility: Tesla hyped the Cybertruck's performance, showcasing a video of the Cybertruck outpacing a Porsche 911 in a quarter-mile race while towing another 911.

WHY IT MATTERS:

• Shift to Premium Pricing: Initially projected to be more affordably priced, the Cybertruck's starting price is over 50% higher than initially announced in 2019. This pivot towards a higher price point is a reaction to the 1m+ preorders the vehicle accumulated.

• Innovative Features: The Cybertruck is available in three configurations, with the most expensive version, the Cyberbeast, offering 320 miles of range and 845 horsepower. Notably, a range extender option is planned to increase the range for the two higher-end models.

• Impact on Tesla Stock: Tesla's stock (NASDAQ: TSLA) showed a mixed reaction to the launch. On the day of the launch (November 30), the stock closed at $240.08, marginally down from $244.14 on November 29. The following day (December 1), Tesla stock opened at $245.14 but dipped to $233.71, indicating investor uncertainty or mixed reactions to the launch​​​​​​​​.
  
  Electrek

Crypto News

Bitcoin Trucks Through Resistance Into December Monthly Open

WHAT HAPPENED:

• Bitcoin's Strong November Performance: Bitcoin experienced its best November since 2020, closing the month with an 8.81% gain. This positive momentum follows a 28.52% gain in October, marking a significant recovery after a negative third quarter in 2023, where Bitcoin saw an 11.54% accumulated loss.

• ETFs Inevitable: ETF analysts and former SEC employees believe a slew of bitcoin ETFs will be greenlit by the SEC in January.

WHY IT MATTERS:

• December's Historical Pattern: Historically, Bitcoin's performance in December has mirrored its November trend since 2015. This pattern suggests that if Bitcoin had a positive November, it is likely to have a positive December, and vice versa. For 2023, this trend would mean Bitcoin could end the year on a high note if it maintains its November momentum.

• Bitcoin Breaking Resistance in December: Bitcoin started December by breaking another price resistance, reaching as high as $38,839. For Bitcoin to continue its positive trend in December 2023, it needs to close the month above its opening price of $37,731.

• Implications for Investors: This performance pattern is crucial for investors and market analysts. If Bitcoin continues its upward trajectory, it could signify a broader recovery in the cryptocurrency market, considering Bitcoin's influence as the leading cryptocurrency.

  CoinTelegraph, FinBold

Poll of the Day

Wednesday we asked about your preferred investment. Results were quite split with NVDA edging out MSFT for #1.

AI Art of the Day

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The BRRR is meant for informational purposes only. It is not investment advice. Please consult with your investment, tax, or legal advisor before making any investment decisions.