Hey everybody, Welcome into the Thinking Crypto podcast. You're home for cryptocurrency news
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We have to start by talking about the price of bitcoin, which is
right now at fifty nine and five dollars. So Bitcoin, of course has
been in this pullback phase and we're looking at the daily chart here and maybe
we found a bottom, or maybe we haven't. I think we have a
couple more weeks for bitcoin to settle and then we bounce. A bounce will
be coming, folks, when in doubt zoom out. Market cycles are playing
out here, and you know, we're of course talking about the micro you
know, we're talking about the monthly, the weekly, and the daily.
But from a macro perspective, we are in a bull market. I expect
a bounce and for us to keep moving up to new highs and possibly a
blow off top this year, if not into early twenty twenty five. So
Bitcoin on the daily it's RSI is looking like it's found the bottom here.
Now we could go further down, so I want to make sure I let
you be prepared for multiple scenarios. We're talking probabilities here, not certainties,
because I don't have a crystal ball. No one has a crystal ball.
But we want to look at what are the next possibilities and what's the higher
probability of playing out. So I think the higher probability here is Bitcoin is
very close to that bottom before it bounds. Is the RSI is indicating that.
And then if we look at the dx Y, where you know,
when the DXY is going down, risk assets like Bitcoin, the NASDAC and
much more are pumping. And then if the DXY is pumping, you know
the assets are going down. So the DXY is looking weak on a daily
chart, and it's RSI is starting to move downwards. So that's a positive
sign. You have these two things moving in parallel, right, d x
y's starting to show some weakness and Bitcoin try to find at bottom. So
I think once these two things happen, we move upwards. And of course
Bitcoin is the rising tied the lips all boats. So as the liquidity enters
in back to Bitcoin, it will start flowing down to the all coins,
and of course, as Bitcoin goes to that next leg up, which could
be up to ninety K or even one hundred k, that liquidity will start
hitting many different all coins. So here's some analysts actually wade in and have
similar thoughts, and I want to share it with you guys. So Techtav
highlighted the following. He said, the impulsive structure of the last one point
five years says ninety to one hundred k is next. So what is he
talking about. Well, he highlighted the chart where the market was in twenty
twenty one and what that fractal look like. And then he's saying, we're
at that same point where the similar type of fractal could play out, which
could take us up to about ninety k, then a correction, then another
move upwards a Bitcoin going to about one hundred and fifty K. And he
included some whyke off charting showing that this would be wave five where we've currently
completed let's say way four, and then we have that final move up.
I think this makes sense. Now, it's not a guarantee, it's not
a certainty. And I say that because people think when I make these statements
that this is absolutely what's going to happen. I don't have a crystal ball
once again, but I think this has the higher probability of playing out.
He also shows the RSI potentially near that bottom where it bounces, so similar
to what I was just showing you guys were telling you guys about here on
the Bitcoin daily chart. So looking good. Peter Brandt a well known trader.
He's been traded for a long time, trading traditional assets before crypto.
He said, if Bitcoin can hold these lows and move higher, the chart
will qualify as a very common bull market continuation chart construction. So right now,
he says, here, we're in that dump phase, and then there's
going to be a pump, right because eventually, you know, you get
to that over soul and the market can't keep going downwards. It has to
bounce, right, These are principles. Same thing. It can become over
bought with all the ETF buying and Bitcoin hitting it's new all time high around
seventy four thousand just literally over a month ago. That was in a overbought
scenario. It could not keep going up like that it's not sustainable. Same
thing on the on the other side of the token or a coin. It
can't keep going down in these pullbacks, so eventually you'll see a bounce.
And I know this is new for some of you, but once you've been
around the block in this market, guys, and I've been here for multiple
bullmarket and bear market cycles, I've seen this before, and once again,
we are in an uptrend, not a down trend. So I'm not expecting
a fifty percent crash or anything like that. Now, a black swan event
could happen like what we saw in twenty twenty, but that doesn't mean the
bullmarket's over. I mean the world is shut down in twenty twenty. Right
in March of twenty twenty, you guys know what I'm talking about. The
market's tank. Bitcoin had dropped straight down to three thousand. Then they started
pumped again as liquidity came in. So, guys, the other aspect of
this too is the macro and the FED just this past Wednesday or yesterday said
they're not cutting rates anytime soon. It goes back to what I've been saying
since the beginning of the year, and I wrote that newsletter saying I don't
think the FED is going to cut any rates before the election to not show
any type of favorability. Plus the data shows guys that when they cut rates,
there's something breaking and the market's correct hard. I'm talking like forty fifty
percent. That type of pullback doesn't mean the end of the world. It
just means that's probably the end of the bullmarket. So I don't think they're
going to cut this year before the election. I think after the election,
and that could be in December of this year or in Q one of twenty
twenty five, and maybe, like I said, this bullmarket could roll into
twenty twenty five and that's where we see the big correction the bear market starts.
So that's what I'm looking at, And I'm looking at these different scenarios,
and I'm of course updating my thesis based on the facts changing and if
anything happens that is unforeseen. And of course I have my cell targets.
You know, I'm gonna start taking profits on bitcoin and ninety k then one
hundred and so on and so forth, and likewise for all coins. I
have my cell targets as well. So we'll see what happens next with the
Bitcoin Fear and Greeted index. But like I said earlier, it was at
fear. Right now it's at neutral, and that's a good sign as we're
almost close to finding that bottom, folks. So let's talk about the top
trending tokens on social media. This data is brought to you by Sentiment,
which is a partner of the podcast, and you can get a lot of
insightful cryptometrics and data. If you want to sign up with them, check
out the link in the description. You can use my code thinking Crypto to
get a discount. First token that's trending here is fracts share FXS and it
has positive sentiment. Number two is ave on Ethereum with a high positive sentiment.
Number three is cou coin token, so that's the exchange token coming in
though it's positive to negative sentiment ratio is not good. Positive sentiment is at
forty five point eight three percent, negative sentiment at forty one point six seven
percent. Coming in at number four is AMP with positive sentiment. Number five
is go network. The ticker symbol is got goot. It has bad positive
to negative sentiment ratio, so positive at forty three point zero two percent negative
sentiment at forty three point seven two percent. Coming in at number six is
teller TRB with positive sentiment. Number seven is tel coin coming in with positive
sentiment, Axiler AXL coming in with positive sentiment at number eight, Number nine
coin x token CET coming in with positive sentiment, and finally Ocean Protocol number
ten coming in with positive sentiment. And remember this protocol is actually going to
be merged with Fetch dot AI and Singularity dot net because they're merging those three
AI tokens to form the I think it's the super Intelligent, the artificial superintelligence
alliance. So a Fetch token holder, it made me some decent money this
cycle, and I told you guys in December twenty twenty two I was doing
that. So it's it's going to be interesting when they merged these tokens.
It might actually merge all the liquidity into one token, so we could see
that FET token, which will be renamed to ASI, run up significantly.
Not financial advice, do your own research, but I'm going to be buying
the dips for fat because of this merge that's in the works, and once
again liquidity being poled behind one token. So exciting times orry, folks,
Let's jump into some news. We all know Blackrock is tokenizing. Larry Fink,
CEO Blackrock, said tokenization is the future of finance. They started tokenizing
on the Ethereum blockchain. Well, we got news here that Blackrock tokenize real
world asset fun buildal so bui d L has become the largest of its kind
after hitting three hundred and seventy five million dollars, topping Franklin Templeton's rival offering.
Folks, they're not kidding. They're going to tokenize every traditional asset,
stocks, bonds, even commodities, real estate, much more. It's all
going on the blockchain. And I've said it over the years twenty four to
seven, trading global markets. No more opening and closing bell of the stock
market. That will be a thing of the past. It's not going to
happen overnight, but you're going to start to see that phase out, folks,
because crypto like the crypto market, because of the blockchain and the real
time aspect of it, people are trading real time twenty four to seven,
and we're going to see a ton of liquidity come into different assets that we're
not able to in the past. You're going to have that borderless aspect where
you know, some people, for example in India can't touch the New York
Stock Exchange, but they can touch assets on the blockchain. So we're dealing
with a truly global acid class and that's because of the blockchain technology. And
it's amazing that block Rock is already taking the lead here. They're the lead
dog now even though other players like Franklin, Tum, Milton and so forth
started ahead of them. So let me give you some details. The Blackrock
US, the institutional Digital Liquidity Fund, represented by the buildel token on the
Ethereum network and backed by US Treasury bills, repot agreements, and cash,
now boasts three hundred and seventy five million dollars of deposits after enjoying seventy million
dollars of inflows last week. Blockchain data RWA dot xyz shows the fund,
created with tokenization services platform Securitized, has captured almost thirty percent market share since
its debut on March twenty first. Meanwhile, the Franklin on Chain US Government
money Fund with the Benji b e Nji token slid to three hundred and sixty
eight million dollars in assets under management after experiencing minor outflows during the same period.
The change in guard was largely thanks to the growth of Ondo Finance,
whose tokenized treasury offering OUSG leverages black Rocks token as reserve asset and enjoyed fifty
million dollars of inflows in a week. I really have to look into this
Ondo Finance token guys, not financial advice. I'm just saying when I see
adoption like this from real companies, from TRATFI and so forth, that's very
bullish. You're getting utility. You can also invest in Etherorem because Blackrock is
tokenizing on the Ethereum blockchain. Now there's other players like JP Morgan and City
Bank tokenizing on Avalanche. So this is where you want to do your research.
Who is using which blockchains and are these reputable companies. And I think
when you see big banks and investment firms from TRATFI coming in and doing this's
that's a big endorsement. That's a big sign that there's going to be more
value on these blockchains, which is great for the native token. So I
hold Etherorem. I don't hold Ondo, but it's something I'm currently researching.
So I'm being transparent with you, guys, what I'm thinking, how I'm
thinking, and what I plan to do. So this is very bullish news.
Guys. We're seeing right before our eyes the adoption of blockchains. So
the rapid growth of blockchain's first tokenized offering occurred as putting conventional assets like bonds
and credit onto blockchain rails in forms of tokens, also known as tokenization of
real world assets RWA has captivated digital asset firms and traditional finance tradified giants alike.
Tokenization could offer benefits like faster around the clock settlements, increase operational efficiency,
and greater transparency. US treasuries, among RWAs have emerged as a gateway
for tokenization efforts as a low risk, well known instrument where investors can park
their on chain cash and earn stable yield without leaving the blockchain ecosystem. The
tokenized treasury market swelled to near one point three billion dollars from near one hundred
million dollars in early twenty twenty three, propelled by in part of blackrocks entrance
to the competition. So, folks, just to summarize, how can you
make money off of this? Right? What Black Rocks doing like I said,
you go hold a native token of the blockchains they are tokenizing on,
so I mentioned Etheroreum and onto finance. Second, you know, if they
start tokenizing certain types of assets that you're interested in. For example, I'm
going to be looking at which real estate properties will they tokenize. Will they
be tokenizing certain buildings in Manhattan which are in well established neighborhoods where the value
will keep going up? Obviously, we know real estate continues to rise in
value in part because they debase the currency, so the asset prices go up,
right, we know that. So let's say they pick a really valuable
piece of real estate and they tokenize it, and you are able to buy
tokens of that real estate and hold it, which we know it's going to
go up in value as that's how the world works with the basement of currency,
and then possibly lend those tokens out or create secondary markets and do different
things and eventually, like I said, lend it out so you're in pasaf
inca or for a profit. So that's what I'm personally looking at. Next,
as they get all of these things finalized, you know they're going through
a lot of trial and error here. They're testing the waters, so eventually
they're going to be tokenizing rare things, artwork, different cars, rare cars,
and real estate and all these things. So that's what I'm keeping my
eye open for guys and paying attention to to see what are some other investment
opportunities to make money here. Now, folks, we got some interesting news
from Tether. Now, many of you have seen my interview with Tether's CEO
Paolo Ardoino that was from like a month and a half ago, if you
haven't check it out. Tether has really positioned themselves to be in a better
place than they were years ago. I've often stated. They got an endorsement
from Howard Lutnik, who is the CEO of Canter Fitzgerald, a major Wall
Street firm that existed before Crypto. He said, they have the money.
Tether is done audits, it's on their websites. They do quarter and I
actually monthly attest stations, I believe, and they have been working with governments
and authorities to track down people breaking the law and doing wrong things because it's
easy to do that with the blockchain. Right Well, folks, they are
taking that to the next level. Tether enhances compliance measures with chain analysis ecosystem
monitoring solution. Tether has collaborated with chainnalysis, the blockchain data platform, to
develop a customizable solution for monitoring secondary market activity. This is a smart move
on their part, and we know Chainnalysis they do a lot of data and
analytics and blockchain tracking to help identify things that are not going well. So
I think it's a great partnership. I think this is a big win for
Tether and it helps them to further cooperate with governments around the world because they
are the world's largest stable coin and of course they're going to be bad actors
who are going to try to use USDT for nefarious activities. Same way bad
actors try to use cash and gold and whatever means of value transfer that they
can. So you want to stop the bad actors. It's not the medium,
it's not the technology, right, we know that, unlike what Elizabeth
Warren and Gary Genson would try to paint the picture of, it's all bad
stuff. Clearly not right, black Rocket, All these guys are tokenizing and
so forth. So this is a great, great partnership. Here and some
other context, it says here the monitoring system could help Tether identify risky crypto
addresses that could be used for bypassing sanctions or illicted activities like terrorists financing.
The company said, so, really great stuff, and this is what I've
been saying. You know, all along with the industry needs the clarity.
They need to put these things in place because there are bad people out there
trying to do things like they are outside of crypto. This is just human
civilization. This is society. There's bad people doing bad things, so we
need to make sure we're tracking them out and kicking them out off the blockchain,
not letting them use these things. But we know it's very minimal compared
to how cash and other currency and means of of value transfer are being used.
Right, so this is great news in my opinion. Now, guys,
quick word from our sponsor, and that is bitgo, which is one
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the description now, folks, Michael Saylor, I told you guys last week
he was doing his Bitcoin for Corporations initiative, where he's helping businesses and corporations
and enterprises be able to learn how to add bitcoin to their balance sheet.
Micro's strategy. Obviously he's doing that, Tesla has done it. A part
of why Elon decided to add bitcoin to SpaceX and Tesla's balance sheet is because
Michael Seller helped him to do that and educate him about it. And Jack
Dorsey. You guys know who Jack Dorsey is. I don't need to explain
that. They actually he tweeted out here that block the company he found it
is dollar cost averaging into bitcoin every month, and he provided some details.
Here's how your company can do it too, And Michael Sailor retweeted him saying,
each month, you know, they will be investing ten percent of their
gross profit from bitcoin products into bitcoins. So, guys, I think this
trend continues and the name escapes me. I think it's fast bey, if
I'm not mistaken. There's a rule, like an accounting rule that was updated
last year, very bullish, that makes it easier for these companies the whole
bitcoin. So I think this trend continues as these fuduciaries see that, Hey,
look, I can get a better return and protect the purchasing power of
the cash we hold in our balance sheet and our reserves by putting into crypto
because it moves faster, right, faster in a real estate and the track
five assets. It's like what Paul Tudor Jones, the billionaire investor said,
crypto Bitcoin is the fastest horse in the race. And part of that is
because it's a nascent acid class. The other aspect is it's global. Like
I said before, not everyone can access stocks in different regions and markets,
right, but they can access bitcoin. They can buy a fraction of it.
First truly global acid class. And this blockchain of layer sits on top
of the Internet and everybody now has a mobile smartphone, so the world is
connected. They live digital and it's easy for them to just buy a fraction
of the XRP cardono bitcoin. You name it, Solana, whatever it is,
and many of these tokens have a finite supply, right it's hard cap,
especially bitcoin, so that bodes well for the increase in value because there's
no ambiguitio segmentation as to what is this market doing as far as how much
capital is coming into the market. You see it real time on the blockchain
and transactions. Right if someone's buying a billion dollars worth of bitcoin in Saudi
Arabia, you will know. Now you don't know who they are and sof
but you will see the transaction value and all of that is pooled right now.
Yes, they can buy OTC obviously where some of these things are not
tracked un chain. But the other aspect is they're buying a part of the
supply, so the supply is then locked with you know, in their wallets
and so forth. So you don't have this type of visibility and transparency in
real time timeliness with gold and other assets. And there's many times you know,
borders for these assets where not everyone can access it, but you have
an Internet connection, you can access bitcoin in the crypto asset class. All
right, folks, that's the news. Don't forget to get a copy of
my book rethinking crypto. It will help support me. And this is also
a great book you can give as a gift for someone who wants to learn
about crypto. It tells the story of crypto's past, president and future,
highlighting y FTX and all that stuff was not crypto, the bigcoin ETF race,
the regulatory battle, what does the future look like? Tokenization NFTs and
much more so a great gift. Once again, give it to your friends,
your family who want to learn about crypto. It's broken down in Layman's
terms, and it documents what has happened so far, guys. So grab
a copy on Amazon in digital or in paperback. And thank you for everyone
who came out to my book signing event on Tuesday down by the Wall Street
bull It was at Station three NYC, which is a Web three hub.
Guys had a great time meeting many of you who are longtime listeners. Thank
you, Thank you for coming out. Thank you for your support, guys.
And you know, I'll try to see if I can do other book
signing events across the country in different places. So if you'd like me to
come by to you know, whether you're in Florida, wherever it is,
you know, leave your comments or send me an email and I can see
if there's enough people who want to come out and meet up. You know,
I can certainly set it up and have another event in different parts of
the country. So thank you guys for watching and listening. I appreciate your
support, and I'll talk to you all later