Welcome back to the Thinking Crypto podcast. You're home for cryptocurrency news and interviews.
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review. It supports the podcast and it doesn't cost you anything. Well,
folks, we got to start with Bitcoin's price, because today was wild.
Bitcoin broke through sixty nine thousand dollars, hitting a new all time high,
but then immediately rejecting. Right now, it's sitting at sixty three two hundred
and seventy four dollars, so a nice healthy pullback, folks. This is
what we've been talking about for a while. I thought that this was going
to happen at fifty k, but Bitcoin went beyond many analyst projections and what
we've seen historically. It's ahead of a schedule. Usually the type of movement
that Bitcoin is seeing and breaking through the all time highs happens after the having
it's ahead of schedule, and that's good for the entire market. We get
to make money sooner, right versus having to wait longer. So we Theorem
at three five hundred and thirty dollars, BnB at three hundred and eighty eight
dollars, Salona at one hundred and twenty one dollars, XRP at fifty eight
cents, Cardono at sixty seven cents, doge Coin at fourteen cents. Still
in the number ninth spot. But look at this number ten. A meme
coin has claimed a number ten spot, and that is shiba Enu, folks.
Shiba Enu over the past seven days is up near one hundred and ninety
one percent. That is wild. I mean, my goodness, I don't
hold these meme coins. I got a little bit of doze, but I
don't hold any meme coins and I don't really mess with them. But if
you're making money off of them, you know, more power to you.
As long as you're making money. I'm happy for you, folks, because
I'm here to make money. So Bitcoin, folks, is cooling down once
again. This is a healthy pullback. Those of you who've been here for
multiple bull market cycles, you know the deal. You've been around the block.
These pullbacks to build support levels are needed so that we can go to
higher prices, because if you keep running up like this. It's not sustainable
and it eventually will have its burnout moment and it's overbought scenario sooner than later.
But we want to go to higher prices. We want to go to
six figures one hundred k plus. So great, great that bitcoins pulling back
here. I know some of my super uber bullish people are gonna say,
what do you mean? It's great, folks. Like I said, I've
been here, I've seen that markets have to follow principles. It doesn't matter
if you're super bullish. They have to follow principles. And you have to
look at both the bullish and the bear scenario as an educated, informed investor.
You cannot have tunnel vision and be biased. You have to look at
what the market is telling you, What are the charges telling you, what
are the fundamentals telling you? That's important. So this is very needed so
that we can continue to higher prices this year. And I'm hoping and I'm
anticipating for six figures bitcoin one hundred thousand dollars plus. So we'll just have
to wait and see what bitcoin does next. Here's what analyst Matthew Highland had
to say about bitcoin's close today. Bitcoin Daily closes below previous Wick high,
that area is now resistance that will need to be reclaimed. So Bitcoin may
have to spend the next couple of weeks consolidating building the support level before it
bounces up, and that could be look the majority of March. It could
be because maybe it starts to rally again as we get closer to the having
which is in April. Just a thought. You know, there's no guarantees
here, but we know how it has played out historically, so we can
use some of that institutional knowledge, right because we've been here for a while
to have an idea, a probability, a guesstimate of what it may do
next. Let's take a look at the top coins that are trending on social
media. This data was updated thirty three minutes ago. It comes as no
surprise Bitcoin is in the number one spot with overall positive sentiment despite the pullback.
But it's of course leading because it hit an all time high and then
had a pullback. But mean coins continue to pop up. Shiba Inu obviously
because it's rising to number ten on the market. Capitalist is at number two,
Dent is at number three. You got here, myro I never heard
of myro a dog with hat my goodness, is still trending high at number
five. E cash I've never heard of that is at number seven. Taro
Luna classic man, Why are people investing in this crap? Even has a
positive sentiment? Please be careful, guys, the FTX, FTT token,
Tara Luna. These are garbage projects that should be burned and not exist,
but they somehow exist, So please be careful out there. Cronoscrothecrypto dot com
coin unification, Tata, the Tata network that is at number ten. So
that's your top ten trending coins, folks, and I think some of it
comes as no surprise. All right, let's jump into the news attorning John
Deeton, right, who's running against corrupt Elizabeth Warren. I've donated to John.
I actually I believe John can win if he gets enough support in any
enough donations. Well, Anthony Scaramucci, who I've had on the podcast many
times, says he's all in on John Deaton's campaign against Senator Elizabeth Warren and
plans to host a fundraiser for him in New York City. So I'm near
New York City, so I will definitely try to attend that I'll share the
updates as I get them, folks. And John actually tweeted out today that
he's now accepting campaign donations via cryptocurrency, so you can visit his website,
John Deeton for Senate and donate to John. And he's a crypto advocate and
of course a freedom fighter. He's not part of the political swamp that exists
in DC. And we know Elizabeth Warren, she's one of the most corrupt
politicians ever. So vote for John if you can't, support John if you
can, and let's hope he can get this victory. Now. Eleanor Tarroott
of Fox Business is reporting that a decision in the Custodia Bank versus FED Reserve
case will not go to trial and as summary judgment decision should be or could
be imminent, a decision on the merits will be issued forthwith. This is
from Caitlin Long, So interesting, folks. This is a big one.
Remember they're FED essentially just blocking Custodia Bank because they're trying to do things right
and be a crypto focused bank. So we'll see how this plays out.
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Now eleanor Terroot, a Fox business, is also reporting that the SEC has
initiated a cease and desist proceedings against Shapeshift, founded by Eric Vorhees. Now
shape Shif is no longer active. The company closed down in twenty twenty one,
but they agreed a ship. Ship agreed to pay two hundred and seventy
five thousand dollars for its operation as an unregistered broker dealer between twenty fourteen and
twenty twenty one. Now I understand why Eric Vorhees kind of settled this.
It's a low amount, but it also gives Gary Gainster a victory to say,
ce C right, look at these guys settling. They they're not fighting
back because we know the SEC is suing coinbase and Kraken and some other big
players. So look, but it is what it is. This is small
and they're not operating anyway. But you know, scumbag regulator Gary Gainster is
going to use anything that he can to fight the crypto industries. So interesting
that the SEC's going after these guys and this thing hasn't been operational in multiple
years. It's so weird. Now. Nick Garacchi wighed and he's the president
of the ETF store on the etheroremis Spot ETF, he said, the SEC
is seeking public comments on various spot ether ETF filings. Really comes down to
this, should approval of the spot Bitcoin ETFs equal approval of the spot etherorem
ETFs, given SEC allowed it features ETFs, I say yes, but clearly
key differences between bitcoin and eh which the SEC is circling in on here.
So, as I've been stating for a while, the ethereum situation is much
more complex than the Bitcoin ETF situation that was more clear cut. Etherorem goes
back to the bill him and J Clayton thing. Gary Genser refuses to say
if Etherorem is not a security before Congress, I mean, come on,
right, and Etherorem has a staking component and all these things that are going
on, and there's a lot of building on Etherorem, so we'll see.
I actually think the SEC should approve the theorem is pot etf. But once
again we're dealing with a scumback right later, that is Gary Genser. Now
some very bullish news coming out of Germany here Deutsche Bursts. If I'm saying
that right, Exchange debuts crypto platform for institutions, the German exchange giant,
Deutsche Bursts intros digital asset trading, settlements and custody services amid crypto price rally.
Folks, globally, we are seeing the biggest institutions in the world,
banks, stock exchanges, investment firms jumping into crypto, launching trading services,
launching custody services, and they're building the on and off ramps for institutions.
Retail already has the on and off ramps. It's now time for the big
money to come in. So this is why I'm so excited for this bullmarket
cycle and feature bull market cycles. So dubbed the Deutscher Borse Digital Exchange DBDX,
the platform is set to allow trading, settlement and custody of crypto assets
while utilizing the existing connectivity to market participants. The company said Tuesday it was
not clear which crypto assets the platform would support. A firm spokesperson did not
immediately returned to request for comment. While Deutsche Burse operates trading on the new
exchange, its subsidiary Crypto Finance, is set to offer these settlement and custody
services. Deutscher Burst acquired a majority stake in Crypto Finance in twenty twenty one.
Deutscher Burst last year labeled launching a crypto platform as part of its Horizon
twenty twenty six strategy. That right there tells you they have a long term
view and they are not rushing into this. They're crawling, they're walking and
running, and we are in twenty twenty four. So by twenty twenty six
they're looking to have a well oiled machine going. So carlow Kohlser, Deutscher
Boris's head of Foreign exchange and Digital Assets, called a new platform Deutsche a
game changer for digital ecosystems. We aim to provide trusted market operations for crypto
assets, ensuring transparency, security and regulatory compliance for institutional clients in Europe.
He added in a statement, Folks, it's incredible. And when you think
about capital flowing in around the globe into these hardcap token supplies, where you
have that supply and demand economic it just not an inflationary aspect to it.
Now, don't get me wrong, some tokens do have that, but you
know, let's look at some of the top ones like Bitcoin theorem, xs
RP and so forth, and some have a burn rate. It gives the
price of these tokens the potential for incredible increase in value because of the hardcap
nature of it. And this thing is on the Internet, distributed globally,
so you can be in any part of the world. I've often talked about
it. Have a cell phone and you have an Internet connection, you can
participate in the as a class. You can buy a fraction. Now,
these institutions and Wales, they're not going to be buying friction. They're going
to be buying a ton of it. But the point is Whales and the
common man can all participate and by this token, and that's incredible, and
see it real time and have settlement real time. So this is why it's
so bullish. It's not like, Okay, I can invest in the Hong
Kong Stock Exchange, and people in other parts of the world can invest in
the New York Stock Exchange and so forth Right, there's a barrier there.
With crypto, there's no barrier, folks, Global acid class and anybody can
participate in any fiat currency can come on board. Whether you're in Venezuela or
Turkey dealing with hyperinflation you want to move to bitcoin, or wherever you are
at Iceland, you can participate. And that's incredible. I don't think many
folks understand how big that is, and especially in an inflationary fiat currency system
that we live in, and when you have you know, barriers to stock
markets and sometimes stock splits and all these things. Right, crypto brings that
true hardcap supply with verifiability, real time settlement and much more. It's amazing.
Now let's talk about NFTs, because Coachella gives NFTs a second try after
FTX integration debacle. This time around. The festival says it's partnering with a
trusted, secure and safe partner in open sea. So, folks, this
is a real world adoption and it's what I've been talking about for years.
NFTs have to go beyond collectibles and nice artwork. Don't get me wrong,
there's a market for that, but that's not a huge use case, right.
We need utility that you get this exclusive digital ownership for a ticket and
event, whatever it may be. It unlocks special perks and features, and
that's where the utility is now. I know some of you are going to
say, dude, I don't care about NFTs. I don't own any,
I don't want any. That's fine, but guess what. The blockchains that
are out there, and some of you have the tokens for those set blockchains.
The NFTs are minted on those blockchains, and what happens when there's building
and developing and use cases on that blockchain. It increases the value of that
blockchain network, and that value trickles down to the native token which you hold.
So you want NFTs to be built on the native blockchains of the tokens
that you hold. So please understand that even if you don't hold the NFTs,
you want the building and you want to see that, you know,
the tokens you hold for the respective blockchains, that there's a building on there.
And this is a big one. Coachella is a huge, well known
music festival. A lot of people attend this music festival every year. And
look, at some point, I actually want to attend. You know,
I love live music. You know, it depends who's playing. I don't
know if I can rough it out for multiple days. It is usually in
an outdoor venue spot where you know, things can get a little rough.
But you know, we'll see, We'll see maybe one day. But anyway,
let me give you the details here music festival Coachella. In twenty twenty
two soul NFTs that earn collectors physical art prints and photo books via a partnership
with FTX. It also released a set of ten NFTs guaranteeing lifetime assets to
Coachella. The ten Coachella keys sold for a collective one point four million dollars.
So despite the setbacks guys from FTX and all the debacle that happened there,
Coachella is giving it a second try. So here's the interesting part,
and which blockchains is it on or which blockchain the NFTs are live on the
Avalanche blockchain. The native token of Avalanche is AVAX, and I hold some
Avax tokens. I had recently interviewed just last month, John Wu of Ava
Labs, so be sure to check out that interview. Avalanche is doing some
big things. So huge adoption here for Avalanche, and this is real world
adoption. And here's an example of what perks these NFTs unlocked. The festival
will be letting some fans purchase NFTs and gain access to VIP areas and exclusive
merchandise. This year's rendition of the Indio, California Week of Concerts see Folks
unlocks benefits and feature And the great thing as this market around NFTs evolve,
people can hold on to that ticket, rent it out and earn income on
it. Let's say they can't go, but they want to keep it and
they want to rent it out to somebody, and there's a secondary market,
and you know, there's so many opportunities. Here is what I'm trying to
say, and all of it verifiable and eliminates fraud because of the blockchain.
This is the great stuff that we're seeing here, folks, So awesome,
awesome stuff. Now final item here Arizona sent it advances effort to add crypto
to state retirement funds. So, my international listeners, Arizona is a state
in the US. The concurrent resolution seeks to encourage pension fund managers to consider
crypto in their allocations. Folks, we are going to see states and governments
around the world certainly adopt crypto put it on their balance sheet. It will
start with bitcoin and then it will expand further. And I think the ETFs
really open up the door for many of these local governments, federal, and
you know, international governments to do this because the ETFs are being issued by
trusted sources like black Rock and so forth, and have proper custody, so
they wouldn't have to necessarily hold it directly on you know, and custody it
and so forth. They can just go through the ETF. So it's amazing.
And in fact, the article mentions that that the portion of the portfolios
to their allocating portion of the portfolios to bitcoiningts, so folks, there's gonna
be a lot of buying coming. And wait till it goes beyond bitcoin.
It goes to the etherorem ets and other all coins and all coin baskets.
The future is bright, you gotta be patient and exciting times ahead. Final
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Thank you for watching and listening, and I'll talk to you all later