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Welcome back to the Thinking Crypto podcast. You're home for cryptocurrency news and interviews.
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If you are new here, please
hit that subscribe button as well as
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It supports the podcast and it doesn't
cost you anything. But Folks,
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as you can probably tell from my
voice, I'm a little bit under the
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whether. I've been taking a lot
of meds hoping to feel better. So
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I wanted to make this quick podcast
to highlight what may happen with bitcoin and
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crypto this week, because I think
we're in for a red week, and
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I'll explain why first. There's usually
a lot of volatility the week of an
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f MC meeting, where we have
the FED is going to tell us if
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they're going to continue to pause rates
or raise again or cut now. I
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personally think they're just going to continue
to pause. I don't think rake cuts
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are coming anytime soon. I think
it may happen next year, late next
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year. In fact, I think
they're going to keep rates at the current
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level, but you never know what
could happen. However, as stated,
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there's usually a lot of volatility around
that because the markets are trying to figure
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out what's going to happen next.
Now, the other thing to highlight is
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the DXY, the Dollar currency index, is consolidating a bit here. I
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don't know if this is the bottom, but it looks like it may break
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down even further. That said,
that breakdown may not happen tomorrow, it
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may happen a week from now.
So if we look at that with Bitcoin
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on the weekly chart, bitcoin is
forming a red candle right when the DXY
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is pumping, assets are going down. When the DXY is crashing, assets
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are going up. So just something
to think about. Once again, we
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don't have a crystal ball, but
we're looking at these different breadcrumbs, these
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different facts and forming a thesis.
And if you look at the bitcoin weekly
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chart here, I think it's good
that we're forming a red candle here,
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right, this is weeks upon weeks
of green candles. That's not sustainable.
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That's not healthy. What's healthy is
having a pullback and consolidation and building support
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levels then moving upwards. So we're
looking for bitcoin to go to forty eight
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to fifty k in its retlacement move
then come back down to thirty k.
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Now, as Bitcoin hits its top
and the liquidity, you know, flows
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down from Bitcoin to the all coins, we're going to see different all coins
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pop off, and in fact we
are already seeing that. So look at
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Cardono. It's up like fifty three
percent in a month, right it hit
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looks like sixty five cents or sixty
four cents just this past week, folks.
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Even Algorand was going a bit nuts, up fifty three fifty four percent
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as well. Ethereum also looking strong. You look at Solana, Well,
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Solona has been pumping like crazy since
the beginning of this year. But you
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see the liquidity is starting to flow
to alts. Right as Bitcoin hits its
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overbought scenario in from the micro,
now from the macro, and we're waiting
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for Bitcoin to continue its retracement upwards
to forty eight fifty k and may go
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higher. Right, I have my
cell targets set because I'm taking profits here
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for Bitcoin as well as all coins. I'm not selling all of my crypto.
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It's just what I bought in the
dips of November to December twenty twenty
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two. So looking very good.
Here's what one analyst Credible Crypto is highlighting
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for Bitcoin's move, showing a dip. So as I'm standing here right a
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red week, we see a dip, consolidation, build support levels, then
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we move up the following week,
and maybe that's the move to forty eight
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to fifty k. Right, We'll
just have to wait and see. But
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he's saying, look, this is
not going below forty k in his opinion.
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I don't think it goes below forty
k as well. But dips are
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for buying. You could certainly take
a position here. It is a bit
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risky because the upside is just to
forty eight to fifty K. Now,
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if you're buying here for the long
term for twenty twenty five new all time
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highs, then yeah, it's not
a big deal. Personally, I would
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wait for the pullback to thirty k
and be buying there. I will be
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buying there for the twenty twenty five
new all time highs. So I personally
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swing trade the market in a from
a monthly or a quarterly standpoint, but
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majority of my holdings are long term
for uh if you want to call it
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swing trading the macro right the four
year cycle. So I'm looking to take
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the majority of my profits in the
twenty twenty five new all time highs.
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So once again, folks, I'm
anticipating in red weeks. You know,
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some of these alts may still continue
to move strong because the liquidity is flowing
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from Bitcoin. But I think there
will be some volatility this week because of
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the FOMC meeting, and we'll have
to wait and see what happens there.
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Here blockchain Backer highlighted something for alts. He said in twenty twenty it was
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right about where we are right now
in this setup where XRP shot up one
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hundred and eighty percent. He says, Bitcoin is up, all coin market
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is up. This is where it
happened. Let's see how the weekend folds
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from here. So he published this
yesterday, and once again, we may
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see some volatility up until maybe Wednesday, where the Fed, you know,
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announces, and then the market rips
again. We'll have to wait and see.
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But at the end of the day, I am prepared for volatility this
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week and that it might be a
bit of a red week. Now some
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interesting news coming out of the SEC. So the SEC had a meeting with
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Fidelity last week about its spot Bitcoin
ETF discussing in kind creation and redemption.
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So folks, the discussion, the
back and forth continues to fine tuning of
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the applications. We're seeing multiple folks
just update their applications. We also had
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van K and I'll be interviewing the
borger box of van X in fact this
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week. It was supposed to happen
last week, but we had to reschedule.
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So Vanek has submitted an S one
amendment for their bitcoins body TF.
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They've been trying to launch this thing
so many years, for so many years
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that it's amendment number five for them. But the point is that it's not
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just Vank. We're seeing Black Rock, Kathy Woods, Arc Invest, all
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these folks are meeting with the SEC. We're seeing multiple amendments, multiple applications
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submitted. So the gears are moving
right. The ball is rolling here.
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The question is when the approval.
I think it's around the corner. It
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could happen possibly this month, maybe
before the holidays and everybody goes on break
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or early January. But it goes
back to what I've been saying about the
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charts. I think this is a
buider rumor sell the news. That doesn't
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mean that the bigcoining TF is not
bullish for the market. From the long
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term macro perspective, it is.
But from the short term, I think
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this is a buyer rumor sell the
news because once these guys get approved,
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they got to launch their marketing.
They got to get everybody educated enough to
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speed. Right. It's not just
hey, let's do it now before it's
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approved. No, what if the
SEC has a specific rule that they say,
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hey, okay, we approve there, but you have to abide by
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these rules. There's a process to
all this, right. It just doesn't
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happen overnight. So I anticipate going
to there's going to be a need for
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a lead time to ramp up.
Now, we got some interesting news around
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Tether, and I've been talking to
quite a few folks. I spoke to
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Congressman french Hill this week. I
spoke to Rod Hammond and the Blockchain Association
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this week, and some of the
topics that were brought up but were around
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tether. Will the DOJ go af
to tether next? The good thing what
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I'm seeing here with Tether is they
have been working with the DOJ to freeze
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different wallets that are linked to bad
activity, which is great, right,
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because despite the lies of Elizabeth Warren
and some of the funds, there is
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out there. You can track everything
on the blockchain, so if someone is
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doing bad things with crypto, the
government can get that data from companies I
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chain analysis, and they can attempt
to freeze some of these wallet addresses and
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shut people down. It's actually much
easier and more efficient to do that versus
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cash and other currencies, right,
folks. So several of the frozen wallets
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had been using Tornado cash over the
past six months. So the TLDR here,
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folks, is that if Teather's working
with the DOJ and government officials,
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I think that's a great sign,
right, because look at what they did
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with Binance. Finance was not working
with the DJ and ebody and they got
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to find it's actually the best case
scenario. They didn't shut Finance down,
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and I don't think they're gonna shut
Tether down. But will Tell probably have
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to pay a fine, I think
so. And I'm going to try to
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get some of the Tether folks on
the podcast. But that's okay, folks.
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I think Tether, for the most
part, they have their books in
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order. They've done a great job
over the past couple of years, I
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think in doing attestations, audits,
and much more so, I think the
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government wants to see that they're doing
kyc AML and then they have the reserves,
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you know, as they state that
they do, which I get.
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I think that's super important. You
have the reserves that goes for USDC,
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circles USDC and any other stable coin. We can all agree. There now
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some interesting news coming out of DC
and that is US crypto lobbying is on
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course for records spend this year.
This is great news because the tradify incumbents.
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They are spending time, tons of
money and lobbying people against crypto.
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Just look at Jamie Diamond. Can
you imagine how much money and him and
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his buddies are probably donating to Elizabeth
Warren and whoever else to try to stop
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crypto. So the industry, the
crypto industry, needs to lobby. It's
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how the government works and politics works
here in the United States. So crypto
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companies spent almost nineteen million dollars on
lobbying by the end of the third quarter,
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compared with sixteen million in the same
period last year. I think they
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need to be spending more. Honestly, we are up against the big guns
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in the trad fire industry, and
they got tons of capital and they've been
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running the show for a long time. So they want to stomp out all
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of these disruptive crypto startups and they
want to control this industry. That's why
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Gary Ginster is doing the things he's
doing. That's why Elizabeth Warren is acting
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the way she's acting. She's not
doing that for fun. She knows there's
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money behind it. If she can
take the contrarian view and align with the
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likes of Jamie Diamond and others,
she's going to get money. She's gonna
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get campaign donations and everything else.
Right, That's just how the game works.
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So we got to work hard.
Part of it is educating the rest
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of the members of Congress, spreading
the facts, exposing Elizabeth Warren and Gary
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Genser. This is why I always
tell you, guys, use social media
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to your advantage. It doesn't cost
you anything to be on Twitter or x
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or LinkedIn or Facebook, whatever.
It is spreading the facts right like we
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did with the Wall Street Journal misinformation
by Elizabeth Warren, where they were saying
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Hamas was getting tons of millions of
dollars with crypto, but in fact they
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ramped down to stop using it because
they were getting caught because of the wallet
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addresses, it's easy to follow the
money, so we gotta keep fighting.
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Now. I want to talk about
there have been a lot of all coin
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air drops, especially around Salana,
and it sounds like some folks are making
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some nice money. So what to
know about Jito's one hundred and sixty five
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million dollar JTO air drop. The
token will be used to govern the doubt
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and possibly to rouse activity in Solana
DeFi. So I don't know if some
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of you got this air drop,
but if you did, then God bless
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right you're getting some money out of
it. I personally did not, but
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this is this is really great.
So Jito or Gito Gito? Yeah,
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The Solana based liquid Steaking protocol opened
an air drop for users to claim ninety
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million of its JTO governance tokens starting
to Thursday morning and amount worth around one
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hundred and sixty five million dollars at
the time of publication. Gito sent tokens
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based on how much of its Gito's
Soul liquid Steaking token the addresses held and
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lent to DeFi protocols alongside rewards for
validators and MTV searchers. According to the
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protocols, developers and JTO tokens will
be used to govern the dow and treasury
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for the steaking platform, gito let's
users tak their solana in exchange for the
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protocols Gito's soul token, which can
be treated or used as collect similar to
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how Lido's staked ether st eth product
works. So, folks, if you're
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able to get these air drops,
you know, that's great. You know,
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obviously you got to make sure the
protocol is secure and it's a good
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you know, it's not a good
blockchain, a good platform. There's a
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lot of developers, the support where
needed, so just be be smart,
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do your due diligence. But I
wanted to just highlight this and look,
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I was a participant of the flair
network snapshot for XRP holders, right.
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I had gotten some other air drops
over the years as well. I did
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not participate on this. I honestly
don't hold a ton of Solana tokens.
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I have some, you know,
I bought some, so like I bought
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it at the DIP. I'm in
profit, but it's not any like life
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changing money. It's money. Don't
get me wrong, I'm making money off
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of it. But you know,
I still am hesitant to go very much
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in with Solana because of the whole
FTX Sambak you free and how money tokens
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they have, and I know they're
gonna want to dump. But yeah,
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the vcs are pumping Solana. You
know, God bless If you're making money,
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I have no problem. Just you
know from my own risk tolerance that
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it was not something I wanted to
participate in. But if you're making money,
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I'm happy for you. I'm never
against people making money. I'm here
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to make money. So if you're
once again, if you've got this air
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drop, let me know, leave
your comments below. But it's really cool
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that people are able to benefit from
this, and this is really great.
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Now I want to highlight something here
from macro investor Rau Pal. This is
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the last item I've had him on
the podcast. I'm a big fan of
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raw. He's such a great macro
thinker, futurists and so forth. He
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tweeted out, I do think there
is a greater than twenty percent chance that
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this cycle in crypto and exponential age
tech is an everything everywhere, all at
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once. Adoption cycle. The narrative
slash price will probably outrun the reality.
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However, but by twenty thirty,
all forecasting will go out the window.
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I think it becomes near impossible to
forecast economy, society, and markets beyond
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00:14:07.600 --> 00:14:13.080
twenty thirty as we hit the exponential
on everything and everything changes forever in ways
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00:14:13.120 --> 00:14:16.879
we can't yet grasp. I am
an optimist in this, even though it
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00:14:16.919 --> 00:14:22.600
feels scary. Opportunities about So if
you saw my interview row, we talked
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00:14:22.600 --> 00:14:26.840
a bit about this and that we
are at the dawn of the next industrial
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00:14:26.879 --> 00:14:31.879
revolution. So go back to the
late eighteen hundreds, their early nineteen hundreds,
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00:14:31.879 --> 00:14:35.159
where the world change right, and
you had the automobile and electricity and
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00:14:35.240 --> 00:14:39.759
light bulbs. It was just a
vastly different world. Well, folks,
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00:14:39.960 --> 00:14:43.720
we're at the dawn of that.
And you know his timeline is the twenty
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00:14:43.799 --> 00:14:50.399
thirty folks. I think AI,
robotics, space exploration, crypto, blockchain,
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00:14:50.559 --> 00:14:54.480
all of these things, electric vehicles
and so forth. We are at
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00:14:54.480 --> 00:14:58.559
the dawn of a next industrial revolution, and all these new technologies are going
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00:14:58.639 --> 00:15:01.320
to rapidly change the world. We're
starting to see it already, right,
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00:15:01.360 --> 00:15:07.759
folks. Where things are just changing, and a lot of people are getting
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00:15:07.759 --> 00:15:11.080
disrupted. A lot of people are
like scared by it, and I get
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00:15:11.120 --> 00:15:15.799
it. There's there's some scary aspects
to it, but it is what it
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00:15:15.879 --> 00:15:18.320
is. This is the changing world, and we can't stop it. I
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00:15:18.360 --> 00:15:22.960
know, I'm getting a bit philosophical
here, right. This is the element
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00:15:24.000 --> 00:15:28.759
of time and a new generation is
rising who live in the digital world and
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00:15:28.799 --> 00:15:35.320
they will adopt these technologies at a
rapid pace, and myself as a millennial,
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00:15:35.440 --> 00:15:39.279
and then there's you know, all
the previous generations Boomers and so forth,
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00:15:39.360 --> 00:15:43.759
will unfortunately start to pass away.
And we know how this works,
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00:15:43.840 --> 00:15:50.240
right, folks. But this is
a time of rapid change. So you
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00:15:50.320 --> 00:15:54.320
can be scared of it and hide
and complain, and don't get me wrong,
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00:15:54.039 --> 00:15:58.879
there's some concerns I have, but
you can also try to profit off
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00:15:58.919 --> 00:16:03.000
of this. So you want to
educate yourself. How can you profit off
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00:16:03.000 --> 00:16:07.440
of this? You know, crypto
and blockchain is certainly the easiest avenue,
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00:16:07.840 --> 00:16:11.519
I would say, out of all
of them. But I'm also invested in
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00:16:11.559 --> 00:16:15.799
Tesla and I'm looking at their robotics
and the electric vehicles. I'm also looking
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00:16:15.840 --> 00:16:19.759
at different space exploration companies and in
the boom and net technology and then there's
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00:16:19.840 --> 00:16:23.200
AI. Right, there's so many
different things on the rise of that.
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00:16:23.440 --> 00:16:29.200
So there's opportunity to make money and
of course educate yourself, not just to
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00:16:29.240 --> 00:16:33.759
invest, but how can you work
in these industries because a lot of jobs
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00:16:33.799 --> 00:16:36.759
are going to go away and there
will be new jobs. And you know,
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00:16:36.759 --> 00:16:40.360
it's kind of like what happened with
the Internet and commerce and how that
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00:16:40.519 --> 00:16:45.039
disrupted the brick and mortar and every
other many other industries, right and in
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00:16:45.080 --> 00:16:48.320
a global economy where jobs were leaving
the United States and I'm living the US,
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00:16:48.399 --> 00:16:52.360
I can talk from a US perspective, and then people are in the
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00:16:52.360 --> 00:16:56.039
Midwest and different places like whoa,
what happened to all our jobs? And
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00:16:56.159 --> 00:17:00.879
it's a different world, right,
So this is where there is disruptions happening.
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00:17:00.960 --> 00:17:04.640
There's a lot of people just like
confuse, like what's happening? But
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00:17:06.400 --> 00:17:10.279
you have to pay attention. You
can't sit on your laurels anymore. There's
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00:17:10.319 --> 00:17:11.799
no more like, Hey, I'm
at this job, I'm going to retire
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00:17:11.880 --> 00:17:18.400
here. No that's not the case. And I say all these things because
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00:17:18.599 --> 00:17:25.079
what Rale is highlighting here, there's
a conversience of all these technologies and an
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00:17:25.119 --> 00:17:29.160
incredibly different world that's coming. So
anyway, folks, like I said,
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00:17:29.200 --> 00:17:30.960
you can profit from it. You
can be scared and hide and complain,
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00:17:32.160 --> 00:17:36.480
or you can try to profit from
it, both from investing as well as
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00:17:36.519 --> 00:17:41.720
possibly change of career and working or
building your own business, whatever it may
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00:17:41.759 --> 00:17:44.119
be. So let me know what
you guys think. Leave your thoughts and
252
00:17:44.160 --> 00:17:45.960
comments below, hit the thumbs up
button, hit the five star rating on
253
00:17:47.000 --> 00:17:51.680
the podcast platforms. Please subscribe to
my free email newsletter linking to description,
254
00:17:52.119 --> 00:17:56.240
follow me on Twitter, x,
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255
00:17:56.279 --> 00:17:59.880
and descriptions. Folks, it doesn't
cost you anything to follow, but it's
256
00:18:00.079 --> 00:18:03.440
supports the podcast. Thank you and
I'll talk to you all later
1
00:00:06.599 --> 00:00:11.800
Welcome back to the Thinking Crypto podcast. You're home for cryptocurrency news and interviews.
2
00:00:12.000 --> 00:00:14.720
If you are new here, please
hit that subscribe button as well as
3
00:00:14.720 --> 00:00:17.640
the thumbs up button and leave a
comment below. If you're listening on a
4
00:00:17.640 --> 00:00:22.039
podcast platform such as Spotify or Apple, please leave a five star rating review.
5
00:00:22.199 --> 00:00:25.199
It supports the podcast and it doesn't
cost you anything. But Folks,
6
00:00:25.199 --> 00:00:27.519
as you can probably tell from my
voice, I'm a little bit under the
7
00:00:27.519 --> 00:00:30.839
whether. I've been taking a lot
of meds hoping to feel better. So
8
00:00:31.120 --> 00:00:35.119
I wanted to make this quick podcast
to highlight what may happen with bitcoin and
9
00:00:35.159 --> 00:00:38.399
crypto this week, because I think
we're in for a red week, and
10
00:00:38.439 --> 00:00:42.640
I'll explain why first. There's usually
a lot of volatility the week of an
11
00:00:42.719 --> 00:00:45.640
f MC meeting, where we have
the FED is going to tell us if
12
00:00:45.640 --> 00:00:50.439
they're going to continue to pause rates
or raise again or cut now. I
13
00:00:50.479 --> 00:00:53.960
personally think they're just going to continue
to pause. I don't think rake cuts
14
00:00:54.000 --> 00:00:57.640
are coming anytime soon. I think
it may happen next year, late next
15
00:00:57.719 --> 00:00:59.960
year. In fact, I think
they're going to keep rates at the current
16
00:01:00.119 --> 00:01:03.320
level, but you never know what
could happen. However, as stated,
17
00:01:03.359 --> 00:01:07.200
there's usually a lot of volatility around
that because the markets are trying to figure
18
00:01:07.200 --> 00:01:08.920
out what's going to happen next.
Now, the other thing to highlight is
19
00:01:08.959 --> 00:01:14.239
the DXY, the Dollar currency index, is consolidating a bit here. I
20
00:01:14.319 --> 00:01:17.000
don't know if this is the bottom, but it looks like it may break
21
00:01:17.040 --> 00:01:21.439
down even further. That said,
that breakdown may not happen tomorrow, it
22
00:01:21.480 --> 00:01:25.840
may happen a week from now.
So if we look at that with Bitcoin
23
00:01:26.000 --> 00:01:30.120
on the weekly chart, bitcoin is
forming a red candle right when the DXY
24
00:01:30.200 --> 00:01:34.439
is pumping, assets are going down. When the DXY is crashing, assets
25
00:01:34.439 --> 00:01:37.439
are going up. So just something
to think about. Once again, we
26
00:01:37.439 --> 00:01:40.719
don't have a crystal ball, but
we're looking at these different breadcrumbs, these
27
00:01:40.799 --> 00:01:45.319
different facts and forming a thesis.
And if you look at the bitcoin weekly
28
00:01:45.439 --> 00:01:49.000
chart here, I think it's good
that we're forming a red candle here,
29
00:01:49.120 --> 00:01:53.920
right, this is weeks upon weeks
of green candles. That's not sustainable.
30
00:01:53.959 --> 00:01:57.599
That's not healthy. What's healthy is
having a pullback and consolidation and building support
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00:01:57.680 --> 00:02:01.040
levels then moving upwards. So we're
looking for bitcoin to go to forty eight
32
00:02:01.079 --> 00:02:06.359
to fifty k in its retlacement move
then come back down to thirty k.
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00:02:06.799 --> 00:02:09.759
Now, as Bitcoin hits its top
and the liquidity, you know, flows
34
00:02:09.840 --> 00:02:13.479
down from Bitcoin to the all coins, we're going to see different all coins
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00:02:13.520 --> 00:02:15.439
pop off, and in fact we
are already seeing that. So look at
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00:02:15.520 --> 00:02:20.960
Cardono. It's up like fifty three
percent in a month, right it hit
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00:02:21.360 --> 00:02:25.120
looks like sixty five cents or sixty
four cents just this past week, folks.
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00:02:25.360 --> 00:02:30.039
Even Algorand was going a bit nuts, up fifty three fifty four percent
39
00:02:30.479 --> 00:02:35.719
as well. Ethereum also looking strong. You look at Solana, Well,
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00:02:35.759 --> 00:02:38.240
Solona has been pumping like crazy since
the beginning of this year. But you
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00:02:38.319 --> 00:02:42.960
see the liquidity is starting to flow
to alts. Right as Bitcoin hits its
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00:02:43.000 --> 00:02:47.240
overbought scenario in from the micro,
now from the macro, and we're waiting
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00:02:47.240 --> 00:02:52.319
for Bitcoin to continue its retracement upwards
to forty eight fifty k and may go
44
00:02:52.479 --> 00:02:55.840
higher. Right, I have my
cell targets set because I'm taking profits here
45
00:02:55.879 --> 00:03:00.280
for Bitcoin as well as all coins. I'm not selling all of my crypto.
46
00:03:00.759 --> 00:03:06.039
It's just what I bought in the
dips of November to December twenty twenty
47
00:03:06.120 --> 00:03:09.960
two. So looking very good.
Here's what one analyst Credible Crypto is highlighting
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00:03:10.000 --> 00:03:15.680
for Bitcoin's move, showing a dip. So as I'm standing here right a
49
00:03:15.759 --> 00:03:19.599
red week, we see a dip, consolidation, build support levels, then
50
00:03:19.639 --> 00:03:23.240
we move up the following week,
and maybe that's the move to forty eight
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00:03:23.240 --> 00:03:25.800
to fifty k. Right, We'll
just have to wait and see. But
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00:03:25.879 --> 00:03:30.560
he's saying, look, this is
not going below forty k in his opinion.
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00:03:30.840 --> 00:03:32.919
I don't think it goes below forty
k as well. But dips are
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00:03:32.919 --> 00:03:38.080
for buying. You could certainly take
a position here. It is a bit
55
00:03:38.159 --> 00:03:40.719
risky because the upside is just to
forty eight to fifty K. Now,
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00:03:40.719 --> 00:03:46.400
if you're buying here for the long
term for twenty twenty five new all time
57
00:03:46.479 --> 00:03:49.840
highs, then yeah, it's not
a big deal. Personally, I would
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00:03:49.840 --> 00:03:53.000
wait for the pullback to thirty k
and be buying there. I will be
59
00:03:53.080 --> 00:03:58.479
buying there for the twenty twenty five
new all time highs. So I personally
60
00:03:58.599 --> 00:04:03.120
swing trade the market in a from
a monthly or a quarterly standpoint, but
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00:04:03.639 --> 00:04:09.039
majority of my holdings are long term
for uh if you want to call it
62
00:04:09.120 --> 00:04:13.240
swing trading the macro right the four
year cycle. So I'm looking to take
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00:04:13.280 --> 00:04:16.000
the majority of my profits in the
twenty twenty five new all time highs.
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00:04:16.240 --> 00:04:19.439
So once again, folks, I'm
anticipating in red weeks. You know,
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00:04:19.519 --> 00:04:25.000
some of these alts may still continue
to move strong because the liquidity is flowing
66
00:04:25.000 --> 00:04:29.040
from Bitcoin. But I think there
will be some volatility this week because of
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00:04:29.079 --> 00:04:31.399
the FOMC meeting, and we'll have
to wait and see what happens there.
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00:04:31.759 --> 00:04:36.639
Here blockchain Backer highlighted something for alts. He said in twenty twenty it was
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00:04:36.920 --> 00:04:43.000
right about where we are right now
in this setup where XRP shot up one
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00:04:43.079 --> 00:04:46.639
hundred and eighty percent. He says, Bitcoin is up, all coin market
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00:04:46.680 --> 00:04:48.800
is up. This is where it
happened. Let's see how the weekend folds
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00:04:48.800 --> 00:04:54.360
from here. So he published this
yesterday, and once again, we may
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00:04:54.399 --> 00:04:58.399
see some volatility up until maybe Wednesday, where the Fed, you know,
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00:04:58.439 --> 00:05:01.199
announces, and then the market rips
again. We'll have to wait and see.
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00:05:01.360 --> 00:05:04.319
But at the end of the day, I am prepared for volatility this
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00:05:04.399 --> 00:05:08.639
week and that it might be a
bit of a red week. Now some
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00:05:08.720 --> 00:05:12.079
interesting news coming out of the SEC. So the SEC had a meeting with
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00:05:12.360 --> 00:05:16.920
Fidelity last week about its spot Bitcoin
ETF discussing in kind creation and redemption.
79
00:05:17.560 --> 00:05:23.800
So folks, the discussion, the
back and forth continues to fine tuning of
80
00:05:23.839 --> 00:05:29.120
the applications. We're seeing multiple folks
just update their applications. We also had
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00:05:29.240 --> 00:05:32.639
van K and I'll be interviewing the
borger box of van X in fact this
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00:05:32.680 --> 00:05:35.160
week. It was supposed to happen
last week, but we had to reschedule.
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00:05:36.160 --> 00:05:41.800
So Vanek has submitted an S one
amendment for their bitcoins body TF.
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00:05:42.160 --> 00:05:45.839
They've been trying to launch this thing
so many years, for so many years
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00:05:45.839 --> 00:05:48.959
that it's amendment number five for them. But the point is that it's not
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00:05:49.040 --> 00:05:53.560
just Vank. We're seeing Black Rock, Kathy Woods, Arc Invest, all
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00:05:53.600 --> 00:06:00.000
these folks are meeting with the SEC. We're seeing multiple amendments, multiple applications
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00:06:00.079 --> 00:06:04.439
submitted. So the gears are moving
right. The ball is rolling here.
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00:06:04.759 --> 00:06:08.759
The question is when the approval.
I think it's around the corner. It
90
00:06:08.759 --> 00:06:14.240
could happen possibly this month, maybe
before the holidays and everybody goes on break
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00:06:14.399 --> 00:06:17.560
or early January. But it goes
back to what I've been saying about the
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00:06:17.680 --> 00:06:21.079
charts. I think this is a
buider rumor sell the news. That doesn't
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00:06:21.120 --> 00:06:25.879
mean that the bigcoining TF is not
bullish for the market. From the long
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00:06:26.000 --> 00:06:30.120
term macro perspective, it is.
But from the short term, I think
95
00:06:30.199 --> 00:06:32.639
this is a buyer rumor sell the
news because once these guys get approved,
96
00:06:32.920 --> 00:06:38.079
they got to launch their marketing.
They got to get everybody educated enough to
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00:06:38.120 --> 00:06:41.360
speed. Right. It's not just
hey, let's do it now before it's
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00:06:41.560 --> 00:06:46.120
approved. No, what if the
SEC has a specific rule that they say,
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00:06:46.120 --> 00:06:47.439
hey, okay, we approve there, but you have to abide by
100
00:06:47.480 --> 00:06:51.680
these rules. There's a process to
all this, right. It just doesn't
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00:06:51.720 --> 00:06:57.759
happen overnight. So I anticipate going
to there's going to be a need for
102
00:06:58.160 --> 00:07:01.319
a lead time to ramp up.
Now, we got some interesting news around
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00:07:01.399 --> 00:07:04.879
Tether, and I've been talking to
quite a few folks. I spoke to
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00:07:05.639 --> 00:07:10.319
Congressman french Hill this week. I
spoke to Rod Hammond and the Blockchain Association
105
00:07:10.399 --> 00:07:13.079
this week, and some of the
topics that were brought up but were around
106
00:07:13.160 --> 00:07:16.319
tether. Will the DOJ go af
to tether next? The good thing what
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00:07:16.399 --> 00:07:20.360
I'm seeing here with Tether is they
have been working with the DOJ to freeze
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00:07:20.680 --> 00:07:27.000
different wallets that are linked to bad
activity, which is great, right,
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00:07:27.000 --> 00:07:30.439
because despite the lies of Elizabeth Warren
and some of the funds, there is
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00:07:30.480 --> 00:07:33.600
out there. You can track everything
on the blockchain, so if someone is
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00:07:33.639 --> 00:07:39.279
doing bad things with crypto, the
government can get that data from companies I
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00:07:39.399 --> 00:07:43.000
chain analysis, and they can attempt
to freeze some of these wallet addresses and
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00:07:43.040 --> 00:07:46.439
shut people down. It's actually much
easier and more efficient to do that versus
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00:07:46.519 --> 00:07:50.759
cash and other currencies, right,
folks. So several of the frozen wallets
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00:07:50.879 --> 00:07:56.199
had been using Tornado cash over the
past six months. So the TLDR here,
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00:07:56.279 --> 00:07:59.680
folks, is that if Teather's working
with the DOJ and government officials,
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00:08:00.160 --> 00:08:03.480
I think that's a great sign,
right, because look at what they did
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00:08:03.480 --> 00:08:07.439
with Binance. Finance was not working
with the DJ and ebody and they got
119
00:08:07.439 --> 00:08:11.600
to find it's actually the best case
scenario. They didn't shut Finance down,
120
00:08:13.439 --> 00:08:16.560
and I don't think they're gonna shut
Tether down. But will Tell probably have
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00:08:16.639 --> 00:08:18.120
to pay a fine, I think
so. And I'm going to try to
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00:08:18.120 --> 00:08:22.560
get some of the Tether folks on
the podcast. But that's okay, folks.
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00:08:22.600 --> 00:08:24.879
I think Tether, for the most
part, they have their books in
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00:08:24.959 --> 00:08:28.240
order. They've done a great job
over the past couple of years, I
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00:08:28.279 --> 00:08:31.840
think in doing attestations, audits,
and much more so, I think the
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00:08:31.879 --> 00:08:35.840
government wants to see that they're doing
kyc AML and then they have the reserves,
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00:08:37.039 --> 00:08:39.600
you know, as they state that
they do, which I get.
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00:08:39.679 --> 00:08:43.200
I think that's super important. You
have the reserves that goes for USDC,
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00:08:43.519 --> 00:08:46.840
circles USDC and any other stable coin. We can all agree. There now
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00:08:48.080 --> 00:08:52.320
some interesting news coming out of DC
and that is US crypto lobbying is on
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00:08:52.519 --> 00:08:56.759
course for records spend this year.
This is great news because the tradify incumbents.
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00:08:58.360 --> 00:09:01.320
They are spending time, tons of
money and lobbying people against crypto.
133
00:09:01.480 --> 00:09:05.960
Just look at Jamie Diamond. Can
you imagine how much money and him and
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00:09:05.039 --> 00:09:11.159
his buddies are probably donating to Elizabeth
Warren and whoever else to try to stop
135
00:09:11.200 --> 00:09:15.279
crypto. So the industry, the
crypto industry, needs to lobby. It's
136
00:09:15.320 --> 00:09:18.240
how the government works and politics works
here in the United States. So crypto
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00:09:18.279 --> 00:09:22.799
companies spent almost nineteen million dollars on
lobbying by the end of the third quarter,
138
00:09:24.159 --> 00:09:28.000
compared with sixteen million in the same
period last year. I think they
139
00:09:28.039 --> 00:09:31.639
need to be spending more. Honestly, we are up against the big guns
140
00:09:31.679 --> 00:09:37.039
in the trad fire industry, and
they got tons of capital and they've been
141
00:09:37.120 --> 00:09:41.080
running the show for a long time. So they want to stomp out all
142
00:09:41.120 --> 00:09:45.879
of these disruptive crypto startups and they
want to control this industry. That's why
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00:09:46.120 --> 00:09:48.600
Gary Ginster is doing the things he's
doing. That's why Elizabeth Warren is acting
144
00:09:48.600 --> 00:09:52.039
the way she's acting. She's not
doing that for fun. She knows there's
145
00:09:52.120 --> 00:09:56.679
money behind it. If she can
take the contrarian view and align with the
146
00:09:56.759 --> 00:10:01.159
likes of Jamie Diamond and others,
she's going to get money. She's gonna
147
00:10:01.159 --> 00:10:03.960
get campaign donations and everything else.
Right, That's just how the game works.
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00:10:05.000 --> 00:10:07.559
So we got to work hard.
Part of it is educating the rest
149
00:10:07.600 --> 00:10:13.039
of the members of Congress, spreading
the facts, exposing Elizabeth Warren and Gary
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00:10:13.080 --> 00:10:16.600
Genser. This is why I always
tell you, guys, use social media
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to your advantage. It doesn't cost
you anything to be on Twitter or x
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or LinkedIn or Facebook, whatever.
It is spreading the facts right like we
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did with the Wall Street Journal misinformation
by Elizabeth Warren, where they were saying
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Hamas was getting tons of millions of
dollars with crypto, but in fact they
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ramped down to stop using it because
they were getting caught because of the wallet
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addresses, it's easy to follow the
money, so we gotta keep fighting.
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Now. I want to talk about
there have been a lot of all coin
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air drops, especially around Salana,
and it sounds like some folks are making
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some nice money. So what to
know about Jito's one hundred and sixty five
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million dollar JTO air drop. The
token will be used to govern the doubt
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and possibly to rouse activity in Solana
DeFi. So I don't know if some
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of you got this air drop,
but if you did, then God bless
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right you're getting some money out of
it. I personally did not, but
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this is this is really great.
So Jito or Gito Gito? Yeah,
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The Solana based liquid Steaking protocol opened
an air drop for users to claim ninety
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million of its JTO governance tokens starting
to Thursday morning and amount worth around one
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hundred and sixty five million dollars at
the time of publication. Gito sent tokens
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based on how much of its Gito's
Soul liquid Steaking token the addresses held and
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lent to DeFi protocols alongside rewards for
validators and MTV searchers. According to the
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protocols, developers and JTO tokens will
be used to govern the dow and treasury
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for the steaking platform, gito let's
users tak their solana in exchange for the
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protocols Gito's soul token, which can
be treated or used as collect similar to
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how Lido's staked ether st eth product
works. So, folks, if you're
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able to get these air drops,
you know, that's great. You know,
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obviously you got to make sure the
protocol is secure and it's a good
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you know, it's not a good
blockchain, a good platform. There's a
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lot of developers, the support where
needed, so just be be smart,
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do your due diligence. But I
wanted to just highlight this and look,
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I was a participant of the flair
network snapshot for XRP holders, right.
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I had gotten some other air drops
over the years as well. I did
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not participate on this. I honestly
don't hold a ton of Solana tokens.
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I have some, you know,
I bought some, so like I bought
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it at the DIP. I'm in
profit, but it's not any like life
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changing money. It's money. Don't
get me wrong, I'm making money off
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of it. But you know,
I still am hesitant to go very much
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in with Solana because of the whole
FTX Sambak you free and how money tokens
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they have, and I know they're
gonna want to dump. But yeah,
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the vcs are pumping Solana. You
know, God bless If you're making money,
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I have no problem. Just you
know from my own risk tolerance that
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it was not something I wanted to
participate in. But if you're making money,
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I'm happy for you. I'm never
against people making money. I'm here
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to make money. So if you're
once again, if you've got this air
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drop, let me know, leave
your comments below. But it's really cool
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that people are able to benefit from
this, and this is really great.
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Now I want to highlight something here
from macro investor Rau Pal. This is
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the last item I've had him on
the podcast. I'm a big fan of
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raw. He's such a great macro
thinker, futurists and so forth. He
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tweeted out, I do think there
is a greater than twenty percent chance that
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this cycle in crypto and exponential age
tech is an everything everywhere, all at
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once. Adoption cycle. The narrative
slash price will probably outrun the reality.
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However, but by twenty thirty,
all forecasting will go out the window.
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I think it becomes near impossible to
forecast economy, society, and markets beyond
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twenty thirty as we hit the exponential
on everything and everything changes forever in ways
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we can't yet grasp. I am
an optimist in this, even though it
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00:14:16.919 --> 00:14:22.600
feels scary. Opportunities about So if
you saw my interview row, we talked
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00:14:22.600 --> 00:14:26.840
a bit about this and that we
are at the dawn of the next industrial
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00:14:26.879 --> 00:14:31.879
revolution. So go back to the
late eighteen hundreds, their early nineteen hundreds,
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where the world change right, and
you had the automobile and electricity and
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00:14:35.240 --> 00:14:39.759
light bulbs. It was just a
vastly different world. Well, folks,
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we're at the dawn of that.
And you know his timeline is the twenty
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thirty folks. I think AI,
robotics, space exploration, crypto, blockchain,
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all of these things, electric vehicles
and so forth. We are at
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the dawn of a next industrial revolution, and all these new technologies are going
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to rapidly change the world. We're
starting to see it already, right,
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00:15:01.360 --> 00:15:07.759
folks. Where things are just changing, and a lot of people are getting
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disrupted. A lot of people are
like scared by it, and I get
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00:15:11.120 --> 00:15:15.799
it. There's there's some scary aspects
to it, but it is what it
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00:15:15.879 --> 00:15:18.320
is. This is the changing world, and we can't stop it. I
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00:15:18.360 --> 00:15:22.960
know, I'm getting a bit philosophical
here, right. This is the element
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of time and a new generation is
rising who live in the digital world and
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they will adopt these technologies at a
rapid pace, and myself as a millennial,
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and then there's you know, all
the previous generations Boomers and so forth,
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will unfortunately start to pass away.
And we know how this works,
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right, folks. But this is
a time of rapid change. So you
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00:15:50.320 --> 00:15:54.320
can be scared of it and hide
and complain, and don't get me wrong,
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00:15:54.039 --> 00:15:58.879
there's some concerns I have, but
you can also try to profit off
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00:15:58.919 --> 00:16:03.000
of this. So you want to
educate yourself. How can you profit off
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00:16:03.000 --> 00:16:07.440
of this? You know, crypto
and blockchain is certainly the easiest avenue,
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00:16:07.840 --> 00:16:11.519
I would say, out of all
of them. But I'm also invested in
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Tesla and I'm looking at their robotics
and the electric vehicles. I'm also looking
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at different space exploration companies and in
the boom and net technology and then there's
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AI. Right, there's so many
different things on the rise of that.
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So there's opportunity to make money and
of course educate yourself, not just to
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invest, but how can you work
in these industries because a lot of jobs
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00:16:33.799 --> 00:16:36.759
are going to go away and there
will be new jobs. And you know,
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00:16:36.759 --> 00:16:40.360
it's kind of like what happened with
the Internet and commerce and how that
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00:16:40.519 --> 00:16:45.039
disrupted the brick and mortar and every
other many other industries, right and in
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00:16:45.080 --> 00:16:48.320
a global economy where jobs were leaving
the United States and I'm living the US,
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00:16:48.399 --> 00:16:52.360
I can talk from a US perspective, and then people are in the
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00:16:52.360 --> 00:16:56.039
Midwest and different places like whoa,
what happened to all our jobs? And
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00:16:56.159 --> 00:17:00.879
it's a different world, right,
So this is where there is disruptions happening.
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There's a lot of people just like
confuse, like what's happening? But
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00:17:06.400 --> 00:17:10.279
you have to pay attention. You
can't sit on your laurels anymore. There's
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00:17:10.319 --> 00:17:11.799
no more like, Hey, I'm
at this job, I'm going to retire
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00:17:11.880 --> 00:17:18.400
here. No that's not the case. And I say all these things because
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00:17:18.599 --> 00:17:25.079
what Rale is highlighting here, there's
a conversience of all these technologies and an
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00:17:25.119 --> 00:17:29.160
incredibly different world that's coming. So
anyway, folks, like I said,
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00:17:29.200 --> 00:17:30.960
you can profit from it. You
can be scared and hide and complain,
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00:17:32.160 --> 00:17:36.480
or you can try to profit from
it, both from investing as well as
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00:17:36.519 --> 00:17:41.720
possibly change of career and working or
building your own business, whatever it may
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00:17:41.759 --> 00:17:44.119
be. So let me know what
you guys think. Leave your thoughts and
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00:17:44.160 --> 00:17:45.960
comments below, hit the thumbs up
button, hit the five star rating on
253
00:17:47.000 --> 00:17:51.680
the podcast platforms. Please subscribe to
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254
00:17:52.119 --> 00:17:56.240
follow me on Twitter, x,
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255
00:17:56.279 --> 00:17:59.880
and descriptions. Folks, it doesn't
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00:18:00.079 --> 00:18:03.440
supports the podcast. Thank you and
I'll talk to you all later
