WEBVTT 1 00:00:07.599 --> 00:00:12.679 Welcome to the Thinking Crypto Podcasts. You're home for cryptocurrency news and interviews. 2 00:00:12.800 --> 00:00:15.679 If you are new here, please hit that subscribe button as well as the 3 00:00:15.720 --> 00:00:19.239 thumbs up button and leave a common below. If you're listening on a podcast 4 00:00:19.239 --> 00:00:23.440 platform such as Spotify or Apple, please leave a five star rating and review. 5 00:00:23.559 --> 00:00:26.839 It supports the podcast and it doesn't cost you anything. Well, folks, 6 00:00:26.960 --> 00:00:31.719 a bitcoin endy crypto market continue to pull back. Bitcoin currently sitting at 7 00:00:31.760 --> 00:00:36.560 sixty five, five hundred and seventy one dollars and this is the pullback the 8 00:00:36.640 --> 00:00:40.159 local top we've been talking about for a long time. A lot of people 9 00:00:40.159 --> 00:00:42.960 have been trolling me, Oh, Bitcoin's going to keep going. This time 10 00:00:43.039 --> 00:00:46.920 is different, but market cycles have to play out. Market principles have to 11 00:00:46.960 --> 00:00:52.240 play out. Right. There can be periods of incredible surges and movements of 12 00:00:52.439 --> 00:00:56.640 price, but in order for that to be sustainable, as to keep going 13 00:00:56.719 --> 00:00:59.920 higher, we have to cool down. We have to build support level. 14 00:01:00.479 --> 00:01:04.280 So we see some pretty big red candles here on the daily chart. But 15 00:01:04.359 --> 00:01:08.079 that's beautiful. That's healthy, you may say, Tony, how are red 16 00:01:08.159 --> 00:01:15.000 candles beautiful? Because it is allowing us to set the support levels to keep 17 00:01:15.040 --> 00:01:18.840 going higher. We want to go to six figures, not just seventy four 18 00:01:18.959 --> 00:01:23.680 thousand dollars. And if you look back in the history of bitcoins bull market 19 00:01:23.799 --> 00:01:27.280 moves, we've had significant pullbacks on the way up. This is normal in 20 00:01:27.319 --> 00:01:32.000 a bull market. The important thing to note is we are any up trend. 21 00:01:32.079 --> 00:01:36.159 We are any bull market, and we have to build support levels along 22 00:01:36.200 --> 00:01:40.359 the way. A key metric we've been looking at is the Dxider Dollar Currency 23 00:01:40.400 --> 00:01:44.879 Index continues to look strong. You see it's printing green candles on the daily 24 00:01:44.959 --> 00:01:49.400 chart. So risk assets like bitcoin and all coins are going to continue to 25 00:01:49.439 --> 00:01:53.000 move downwards. So everything is bleeding right now. Meme coins, all the 26 00:01:53.079 --> 00:01:57.200 all coins for the most part, except for maybe salon A. Salona continues 27 00:01:57.239 --> 00:02:02.680 to move pretty strong. It's one point two percent over the past twenty four 28 00:02:02.680 --> 00:02:07.840 hours. So Solana, you know, it's funny. In the early parts 29 00:02:07.879 --> 00:02:10.080 of the bull market, starting in twenty twenty three, we saw Solana was 30 00:02:10.120 --> 00:02:15.919 moving. A lot of liquidity is entering via Solana and then circling its way 31 00:02:15.000 --> 00:02:20.120 up to Bitcoin and then from Bitcoin back down to the all coins. And 32 00:02:20.199 --> 00:02:23.879 we've been seeing meme coins have been going crazy lately, but they're still holding 33 00:02:24.000 --> 00:02:28.479 some of the strong positions here in the market cap like doche cooin is still 34 00:02:28.560 --> 00:02:32.879 number nine, shiba Enu is still at number eleven here. So still a 35 00:02:32.919 --> 00:02:37.680 lot of liquidity in these meme coins. So let's take a look at some 36 00:02:37.879 --> 00:02:42.560 data around bitcoin. One of the other indications that we are still in a 37 00:02:42.639 --> 00:02:46.759 bull market is that bitcoin supply is still leave in the exchanges. So this 38 00:02:46.879 --> 00:02:50.960 data here from Santiment, which is a great partner of the podcast, showing 39 00:02:51.080 --> 00:02:57.840 bitcoin leaving the exchanges even though the price is correcting, which is generally something 40 00:02:57.840 --> 00:03:00.360 you see in the bullmarket and the bear market. It you know, a 41 00:03:00.360 --> 00:03:05.800 lot of coins are going back on the exchanges to be sold. So you 42 00:03:05.840 --> 00:03:08.120 know, it's not the end all, be all of all metrics, but 43 00:03:08.159 --> 00:03:12.080 you want to look at the market holistically, look at a variety of different 44 00:03:12.080 --> 00:03:16.120 metrics to get an idea of what's happening now. In addition, meme coins 45 00:03:16.159 --> 00:03:22.240 here are starting to lose some social volume. So here I know those of 46 00:03:22.240 --> 00:03:24.599 you listening in the audio can't see this, but here you see on sentiment 47 00:03:24.680 --> 00:03:30.520 that the social volume is declining around meme coins. So as the price is 48 00:03:30.560 --> 00:03:34.560 cooled down and as the liquidity starts to flow out, there's going to be 49 00:03:34.639 --> 00:03:38.000 less and less talk about meme coins on social media. But don't get me 50 00:03:38.039 --> 00:03:42.000 wrong, it's still high compared to how it was even in early February. 51 00:03:42.520 --> 00:03:45.879 So once again, folks, we've got to be patient here and see how 52 00:03:45.960 --> 00:03:50.039 things progress. Now, let's take a look at the top trending coins on 53 00:03:50.080 --> 00:03:54.719 social media. Book of Meme Boom continues to get the lion share of the 54 00:03:54.879 --> 00:04:00.439 mentions here. A lot of positive sentiment around Ita comes in at number two, 55 00:04:00.599 --> 00:04:03.759 and that makes sense because its price has been going up. Jupiter at 56 00:04:03.840 --> 00:04:11.000 number three, Blocknet comes in at four, Fantom comes in at five, 57 00:04:11.479 --> 00:04:16.480 Gto comes in at number six. That's the jto token. Pythe network comes 58 00:04:16.519 --> 00:04:20.759 in at seven. Harvest Finance. I don't think I've heard of that, 59 00:04:20.800 --> 00:04:26.240 but the ticker symbol for the token is a farm that comes in at eight 60 00:04:26.480 --> 00:04:30.879 BSV. Still trending coming in here at number nine, and then Doco. 61 00:04:31.240 --> 00:04:35.600 This is a meme coin. These meme coins. Man, people come up 62 00:04:35.639 --> 00:04:40.759 with the weirdest meme coins these days. But look, I've said many times, 63 00:04:40.759 --> 00:04:43.759 if you're making money off of meme coins, good luck to you, 64 00:04:44.079 --> 00:04:46.720 God bless, but it's not something that I'm messing around with I have a 65 00:04:46.759 --> 00:04:51.639 little bit of those coin, but it's more of a collectible versus an investment. 66 00:04:53.959 --> 00:04:57.360 But I'm not messing at meme coins. They are the riskiest aspect of 67 00:04:57.439 --> 00:05:00.120 the crypto market, but you know, you hold them and you make money 68 00:05:00.160 --> 00:05:03.600 than more power to you. Now, we've got some updates here around crypto 69 00:05:03.800 --> 00:05:10.680 hiring Blockfi's Zach Prince heads for the crypto exit. So many of you know 70 00:05:10.759 --> 00:05:15.040 Blockfi's former CEO, Zach Prince. I think this makes sense. He's getting 71 00:05:15.040 --> 00:05:19.040 out of the industry because look, Blockfi what a mess, right, one 72 00:05:19.040 --> 00:05:23.759 of the collapses that took place in the crypto bear market. So it had 73 00:05:23.800 --> 00:05:28.040 been a year and a half since Zach Prince's last ex post, a retweet 74 00:05:28.079 --> 00:05:33.120 announcing that the lending platform Blockfi would pause operations amid the fallout from ftx's collapse. 75 00:05:33.519 --> 00:05:38.959 Then this past Monday, Prince returned to say he'd be leaving crypto altogether. 76 00:05:39.560 --> 00:05:44.079 Prince is taking over as the CEO of r Costs Say, a firm 77 00:05:44.120 --> 00:05:49.120 that offers potentially tax saving cost segregation studies to real estate investors. It's the 78 00:05:49.160 --> 00:05:54.759 first time Prince has worked in a real estate focus firm, as he has 79 00:05:54.800 --> 00:05:58.839 worked in lending in the years before he founded Blockfi. According to his LinkedIn 80 00:05:59.399 --> 00:06:03.160 look, blame him, you know, walk away from crypto because your reputation 81 00:06:03.279 --> 00:06:05.839 is tarnished. You know. Don't you even try to come back or go 82 00:06:05.879 --> 00:06:11.879 work somewhere else. It was just so messy, and I don't blame him 83 00:06:11.879 --> 00:06:16.199 for leaving. In general, executives secured by ftx's fall haven't flooded for the 84 00:06:16.240 --> 00:06:20.800 exits. Brett Harrison, the one time president of FTX dot US, launch 85 00:06:20.839 --> 00:06:27.240 a new derivatives brokerage named Architect and BlockWorks. Previously reported on Backpack, a 86 00:06:27.319 --> 00:06:31.639 former FTX employee let's startup that's created a popular wallet for Solana users. Prince, 87 00:06:31.680 --> 00:06:38.079 who's firm entered bankruptcy due to FTX exposure, testified at sam Bek mcfried's 88 00:06:38.120 --> 00:06:43.639 trial in November. Prosecutors questioned Prince on his decision to lend funds to Animated 89 00:06:43.759 --> 00:06:47.879 Research. Ftx's sister company, now Anchorage Digital, makes sec vet its general 90 00:06:47.920 --> 00:06:55.000 counsel the crypto platform. Anchorage Digital named Twangvai Lee, it's general counsel. 91 00:06:55.399 --> 00:07:00.879 I will actually be interviewing some from Anchorage very soon. Lee a most recently 92 00:07:00.199 --> 00:07:06.079 worked in regulatory and legal roles at Baying Capital Crypto and WORLK one. She 93 00:07:06.519 --> 00:07:12.720 was also a partner at Baying Capital Crypto. Before that, Lee spent years 94 00:07:12.800 --> 00:07:16.680 at the Securities and Exchange Commission, where she handled some of the agency's earliest 95 00:07:16.680 --> 00:07:23.000 crypto investigations, according to an ancouraged digital blog post. Some other notable hiring 96 00:07:23.079 --> 00:07:27.480 news include the head of digital assets at Steve Cohen's Er point seventy two left 97 00:07:27.480 --> 00:07:33.199 the Hedge one. Bloomberg reported former GSR researcher Matt Kunk left the firm to 98 00:07:33.240 --> 00:07:41.079 become Black Rocks Digital Asset ETFs product strategists. NFT fantasy sports startup so Rare 99 00:07:41.319 --> 00:07:46.120 laid off twenty two employees from its New York office in February, TechCrunch reported, 100 00:07:46.240 --> 00:07:48.720 so we got to mix here folks, some folks leaving due to bad 101 00:07:48.800 --> 00:07:56.279 reputation, some layoffs, but we continued to see more trat five folks entering 102 00:07:56.360 --> 00:08:01.079 the crypto industry, government officials entering the crypto industry, and some movement of 103 00:08:01.319 --> 00:08:05.879 talent within the industry. So it is what it is. These are things 104 00:08:07.040 --> 00:08:11.680 that happen in every industry. Now. Nigerian sec seeks to raise crypto exchange 105 00:08:11.720 --> 00:08:16.680 registration fee. Nigeria has been in the news a lot lately. We know 106 00:08:16.759 --> 00:08:22.839 they detained two Binance executives and they want ten billion dollars from Binance. It's 107 00:08:22.920 --> 00:08:28.639 crazy. It's like they're holding these executives as hostages. So under the updated 108 00:08:28.680 --> 00:08:35.399 guidelines, digital asset exchanges and custodians must pay an application fee of three hundred 109 00:08:35.440 --> 00:08:39.360 thousand nayra from saying it right, or one hundred and eighty six dollars, 110 00:08:39.440 --> 00:08:43.840 up from the previous one hundred thousand niro which was about sixty two dollars. 111 00:08:43.879 --> 00:08:48.720 So I think Nigeria is in some financial issues here and they're trying to collect 112 00:08:48.720 --> 00:08:52.600 fees and money wherever they can. Like I said, ten billion dollars they 113 00:08:52.600 --> 00:08:56.159 want from Binance, it's incredible. In the announcement, the SEC said the 114 00:08:56.279 --> 00:09:01.440 proposed changes were made to provide clarity and in corporate suggestions from the industry stakeholders, 115 00:09:01.759 --> 00:09:07.000 particularly with regard to the recent engagements with the Central Bank of Nigeria. 116 00:09:07.360 --> 00:09:13.480 The Nigerian SEC first issued rules and guidelines for all crypto and digital asset service 117 00:09:13.519 --> 00:09:18.200 providers in May twenty twenty two, but on Friday, March fifteen, twenty 118 00:09:18.240 --> 00:09:20.879 twenty four. It suggested an amendment to the rules. So, folks, 119 00:09:20.879 --> 00:09:26.440 we're seeing, though, this is just an indication of what's happening across the 120 00:09:26.480 --> 00:09:31.080 globe that different countries are not banning crypto. They not shutting down exchanges. 121 00:09:31.399 --> 00:09:33.879 They want their pound of flesh though, right, they want their tax revenue, 122 00:09:33.879 --> 00:09:39.559 they want their fees, and of course Nigeria wants ten billion dollars in 123 00:09:39.639 --> 00:09:43.879 penalties from binance. But we're seeing the on rams being set up here and 124 00:09:45.159 --> 00:09:50.000 the governments are allowing it and regulating and taxing it. And that makes me 125 00:09:50.080 --> 00:09:54.600 bullish because years ago they were trying to ban this and kick it out and 126 00:09:54.679 --> 00:09:56.759 do all. They were spreading tons of fun. Right, we're gonna ban 127 00:09:56.879 --> 00:10:03.120 this thing. It shouldn't exist, And now they're letting these crypto exchanges run 128 00:10:03.159 --> 00:10:05.639 their business and they know, you know, I think all of that back 129 00:10:05.679 --> 00:10:11.840 in the day was just fun to weed out a lot of the retail that 130 00:10:11.000 --> 00:10:16.759 front randy institutions. So now the institutions are here, they're ready to pump 131 00:10:16.799 --> 00:10:18.440 this and they're going to allow it. I mean, just look in the 132 00:10:18.559 --> 00:10:22.600 US, right, the big one ETF's going live. Wall streets here. 133 00:10:22.960 --> 00:10:28.120 So it's happening globally, and it makes me very excited for the future bullmarkets, 134 00:10:28.159 --> 00:10:31.720 not even just this bullmarket, but future. I'm talking twenty twenty nine 135 00:10:31.879 --> 00:10:35.679 and like twenty thirty and so forth. Right, there's future bullmarket's still coming. 136 00:10:35.039 --> 00:10:39.840 Obviously, I want to make money in each bull market, so I'm 137 00:10:39.840 --> 00:10:43.039 going to be buying the dips and writing up the bullmarket waves and selling the 138 00:10:43.039 --> 00:10:48.919 euphoric top folks. So that's why I've been saying this correction here for Bitcoin, 139 00:10:48.440 --> 00:10:54.120 healthy, beautiful. This is what I've been waiting for, because pumps 140 00:10:54.159 --> 00:10:58.399 like these are not sustainable. They need to have pullbacks and wipe out all 141 00:10:58.440 --> 00:11:03.679 the leverage and all these things that are in the market and then reset and 142 00:11:03.759 --> 00:11:07.519 keep going higher. And of course, as always, as Bitcoin goes higher, 143 00:11:07.559 --> 00:11:11.120 it's the rising tide that lifts all boats. It will bring all coins, 144 00:11:11.159 --> 00:11:16.320 even mean coins with it. The liquidity will float down to Bitcoin and 145 00:11:16.480 --> 00:11:20.159 some of these other all coins that are laggards like XRP and Cardano and so 146 00:11:20.240 --> 00:11:22.679 forth, that haven't been moving will move significantly. But we got to be 147 00:11:22.759 --> 00:11:28.120 patient. Patience is the key, folks. Obviously, you want to be 148 00:11:28.320 --> 00:11:33.039 educated and looking at the charts and staying up to date. But you got 149 00:11:33.039 --> 00:11:35.440 to exercise patients, and don't forget to check your emotions at the door. 150 00:11:35.519 --> 00:11:39.639 It's about data. It's about the metrics, the analytics and what's happening. 151 00:11:41.080 --> 00:11:43.320 Well, folks, that's the news. Let me know what you think. 152 00:11:43.399 --> 00:11:46.120 Leave your thoughts in comments below, hit the thumbs up button. Be sure 153 00:11:46.159 --> 00:11:50.360 to check out our sponsor. That is Uphold, which is a great exchange 154 00:11:50.399 --> 00:11:52.639 that you can buy to dip by Bitcoin and all coins and so forth. 155 00:11:52.919 --> 00:11:56.720 They also have precious metals such as gold, silver, palladium, platinum that 156 00:11:56.759 --> 00:12:01.639 you can trade. They have a great app, easy to use their proof 157 00:12:01.679 --> 00:12:05.960 of reserves so you can go review their audits and much more. This is 158 00:12:05.960 --> 00:12:09.720 a platform I've been using since twenty eighteen. Thank you guys for watching and 159 00:12:09.799 --> 00:12:11.360 listening, and I'll talk to you all later.