Here everybody. Welcome into the Thinking Crypto Podcasts. You're home for cryptocurrency news
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we have to talk about the price of bitcoin. I see a lot
of fearful comments and sentiment that's brewing in the market, and people are getting
kind of bored as well, because bitcoin has been consolidating for weeks now,
actually it's coming up to a couple of months, and people are like,
you know, is the bullmarket over? What's going to happen next? Now,
we don't have a crystal ball, but we can look at the facts
and the data and look at what has happened historically and look at what the
charts are telling us to kind of form a thesis and to be prepared for
what may come next. And I've been here for multiple bullmarket cycles, so
I'm not work. I'm not scared, and I'm being very transparent with you
guys. What will scare me? Is if Bitcoin was to tank and drop
below forty K, that would scare me. That would be like, oh,
something is very different this time around. All models are wrong, all
signals are wrong. Right now, we're nowhere near that. But keep in
mind that bitcoin did an incredible run up. Guys, that bitcoin etf buying
and we're finding out who's been buying. JP Morgan, Wellspargo, some of
the biggest firms and banks in the world, and they drove the price of
bitcoin to all time highs before the having that's history. That has never happened
in the history of bitcoin's lifetime. So with that type of run up,
you need a pretty good cooled down and that's what we're in here, guys.
And we've been ranging between the fifty six k to the sixty four K
range. Right you see, Bitcoin's just chopping, it's grinding. So I
think it's going to be a grind until we find that ultimate bottom within this
pullback zone, and then we balance upwards and we keep going up. If
you recall a couple of weeks ago, we saw a bounce in bitcoins RSI
and the daily chart. But I said, guys, let this play out,
because I've been faked out in the market before what happened, we got
faked out that RSI kept going downwards. The question is it has it hit
its bottom. I don't know yet. It could go a bit further down
and I think later in May is when we find that bottom and then we
bounce. So that is what I'm personally anticipating. But when I zoom out
on this chart, when in doubt zoom out, this looks bullish to me.
There's nothing bearish or detrimental here. So I think we're still on track.
And don't just take my word for it. Let me share some perspectives
from different analysts. So Adrian Zadunchek of the Crypto Verb team said another week
closed of key long term support, preventing major corrections. So bitcoin is building
support here, guys, and then it's eventually going to bounce. Now here's
what wrecked capital. A great analyst who does great chart analysis said, the
bitcoin post having danger zone, which is in the purple zone, officially ends
tomorrow. So that doesn't mean the price can go down a bit lower.
It's just this is the normal cycle area where we see these major pullbacks,
and it's healthy because usually there is a bider rumor sell the news event so
you know the having's coming up, the price goes up, and then they's
just sell event on that news. Doesn't mean the bullmarket's over, but bitcoin
is going to consolidate, build the support levels, and then start running up.
So he gave a comparison to the twenty sixteen twenty seventeen chart. Now
here's what a crypto wizard had to say. He calls it the great shakeout.
In twenty thirteen, twelve weeks of consolidation before the bull run up.
Twenty seventeen, nine weeks of consolidation before the next bull run up. He
says, it's been nine weeks of consolidation around the previous all time high for
bitcoin so far, not long left. Don't get shaken out. Absolutely great
advice when in doubt, zoom out. You see these patterns on the charts
historically. Here crypto Michael Will highlighted a sentiment chart showing where are we in
that sentiment chart and it's called the Wall Street cheat sheet. And right now
he's saying, we are correcting from the first sentiment extreme. That seems very
likely, right because we had that extreme run up, bigcoin hitting new all
the time highs before they having and then this pullback. He's calling it a
bear trap. But after that is renewed optimism, then fomo, then euphoria.
You want to be selling that fomo and euphoria phase because the dumb money
crowd comes in that top area right now. I didn't make up that terminology.
That is a terminology that existed before crypto, dumb money and smart money.
Smart money's buying the blood on the streets, buying the lows, buying
the corrections and pullbacks. Dumb money is buying the pumps and the euphoric blow
off top. You do not want to be in that dumb money crowd.
You want to be on the smart money side, selling, taking profits and
then waiting for the bear market and buying back in. And I'm talking from
experience, guys, So great opportunities, especially in crypto because it moves faster
and there's more capital. You make incredible returns. I'm sure many of you
have experienced it with not only Bitcoin, but all coins. All coins generally,
I'll perform bitcoins. So people have asked me, hey, have you
been buying the dip on this pullback? Yes, but not Bitcoin. I
bought the Bitcoin dip in December twenty twenty two, twenty twenty three, when
people were scared as hell. Because I learned my lesson in previous markets.
Now my portfolios up. What I have been buying is all coins, especially
those all coins who haven't really done any type of retlacement move haven't taken off
as yet because they all coins lagged behind Bitcoin. So I took my positions
on the all coins. I bought some AI coins like Fetch and Render and
so forth, adding more to my bags. Not financial advice, you know,
do your own research. And here you guys, Ral Powell highlighting some
macro charts talking about the FED liquidity GDP growth and that the aging population is
contributing to a lower GDP growth. What does that mean? They have to
service the debt for the aging population. That means print more money. And
this is a global issue. The boomers are aging out globally, they're going
into retirement, they're coming out the workforce less production. And you guys know
how that all works. This is economics, right, So he says,
with high debt and low growth, the FED needs to create liquidity to service
the debt. Equals the basement, meaning they're going to print print quantitative usings
coming back. I've been telling you guys this since last year, that we
were at the bottom and they're going to slow down on the QT, the
quantitative tightening cycle. Right. They've already paused rate hikes, and we've already
seen some backdoor bailouts or bailins, whatever you want to call them, up
certain banks. All of that is adding liquidity to the system. And this
is happening globally, and we're going to go back to the normal status quo
of let's keep printing because we are in a debt based system and they have
to service them and that's how they keep things going. So once you understand
that, you understand that asset prices are rising with the debasement of the currency,
but the asset prices at least outpaced and give you a higher return than
you're putting your cash in the bank and earning not next to nothing, and
you're losing your purchasing power. So it's not only crypto. You can put
it in real estate into stocks. So I'm diversified. I do put into
stocks, I do have a investment property. But as Paul Tudor Jones said,
bitcoint crypto is the fastest horse and race, so you get a faster,
higher return with cryptocurrencies. So I hope you guys understand. You want
to look at the charts, You want to look at the macros, the
fundamental and much more. All of these things are aligning to higher prices now
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folks, we've been talking a bit about the sec getting slammed by many
folks who are calling them out for their hypocrisy, and because of Donald Trump
putting the stake in the ground saying he supports crypto and that if you want
to crypto regulations and someone who's friendly to crypto, vote for him. Now
we know how politics works, right, But I said that was very important,
not so much because it's Donald Trump the person, but the position,
the office, the seat, former president, and obviously the Republican candidate running
against Biden. Replace Trump with somebody else, right, But the point is
the position, the narrative coming from that position is incredible, and it puts
game theory into play here where Biden may now be forced to, you know,
start to support crypto. And there's been a lot of critics coming out
slamming Gary Ginser and even by the bide An administration. And one such was
Mark Cuban. He's been on a tear lately, and I'm trying to get
him on the podcast, So please tweet at him and tell him to come
on to the Thinking Crypto podcast. But he's been on a tear lately,
criticizing some of the Democrats, criticizing the Biden administration, saying, look,
you're gonna lose crypto voters, and you're they're gonna make their voices heard in
the election. So I absolutely agree with Mark here. And you see Trump's
statements are getting picked up by many politic called media sites such as Politico.
Here's the headline from just this past week, crypto is Trump's new weapon against
Biden. Wow. And it says here it's the first time crypto has become
an issue in a general election of a presidential race. Damn right, guys.
I've been saying it for months, right, even the last year.
Crypto is a ballid issue. It's not the number one issue. It may
be number three for some people, number five, but for some people it
is number one. And I know some people, on its face they're going
to be like, what, how can crypto be number one? Well,
people's money and investments are in crypto, and they're trying to make a better
life for themselves. So part of being able to make a better life for
yourself is being able to invest and make a good return. And especially with
inflation going crazy and all the economic situations that are happening. So if you're
going to cut off a technology and asset class that is helping people to grow
their net worth and grow their wealth so they can live a better life.
Then they're not so much going to be concerned with other issues because at the
end of the day, every man and woman is looking to better themselves and
to position themselves where they can live comfortably, where they can then maybe take
that money and do other things that are in alignment with their values, right,
Because it does take capital. It does take you to be in a
financial position to be able to contribute to a campaign, start some sort of
fundraiser, whatever it is. You guys know what I'm talking about, right,
So it goes back to people's wellbeing. And if you cut off this
amazing technology in the United States and you demonize and you have scumbag regulator Gary
Gains and the corrupt Elizabeth Warren attacking the industry, what do you think is
going to happen? So this is a smart move by Trump. Once again,
I'm not endorsing Trump, I'm not endorsing Biden. I'm just trying to
get you guys to think about what's happening here. This is not a political
podcast where we talk about it. Oh, this can is better than no.
I'm giving you the facts I'm giving you the news, and you make
your own decisions. You form your own conclusions from there. And here we
got avicel who is the co founder at Electric Capital. I'm actually going to
have him on the podcast pretty soon. He gives some insightful information here retweeting
Mark Cuban's thoughts about Gary Genser and the SEC and the Democrats losing votes.
He said, this is a conversation I have weekly with mega donors in the
Democrat Party. Joe Biden, he tagged him, is shooting himself and a
Democratic Party in the head by listening to Elizabeth Warren and her incompetent staffers.
Wow. Boy, I'm going to ask him a lot of questions about this.
But as you can imagine, he has a hedge fund. They've raised
like billions of dollars, right, And it's not just him and his other
companies and funds and vcs who donate to politicians, right, we know that's
the game. It's very telling that he's coming out and saying this, so
imagine he's not the only one, and he's saying, like, what the
hell are the Democrats doing? Right, And even people who are hardcore Democrats
are like, yeah, Biden and the Bidian administration are so wrong on this.
So I think people can see Claire's day that this is just a nonsense
and Elizabeth Warren is losing the narrative and she's corrupt as hell. But remember
this is all her being controlled by the puppet strings, right, the puppet
masters being the banks and tried fight incumbents who are getting disrupted, who want
to slow this industry down so they can catch up. That's why Blackrock,
Fidelity and all these guys are not getting Wall's notices, but coinbased, Ripple
Kraken, all the startups are getting Wall's notices. I think I don't think
I need to explain that further. So very insightful, and that these guys
are talking to different political candidates and so forth. And Jake Trawirsky, you
know, he highlighted that political article about Trump's new weapon against Biden is crypto.
He says this piece should be required reading for everyone in the Biden adminstration
and on his campaign. Crypto is a live issue in this election. An
anti crypto is a losing platform, especially among swing state voters. Time is
running out to change course. Now, guys, let's move ahead. We
got some news here from Franklin Templeton's CEO. SO, Franklin Templetons CEO says
ETFs and mutual funds will be on the blockchain. Absolutely. I've been telling
you guys for years, the token economy is coming. Everything tokenized on the
blockchain. Artwork, cars, real estate, much more, securities, commodities,
all these financial products. Everything will be running on the blockchain. No
more opening or closing bell in the stock market, twenty four to seven trading
markets, global markets, guys, that's what's coming up, opening up tons
of liquidity, opening up tons of secondary markets and even tertiary markets. So
I've had you know, the chief investment officer at Franklin Templeton on Sandy Call,
if you guys recall I interviewed her maybe a couple months ago. They
of course issued a bigcoins body TF. They're also tokenizing on the Stellar blockchain
in Stellar lumens. So. Jenny Johnson, the president and CEO of Franklin
Templeton, a financial firm with one point six trillion dollars in assets under management,
recently reiterated her pro blockchain stands during an interview with Bloomberg anchor David Westland.
During the twenty seven annual Milken Institute Global Conference in California. Among the
hot topics discussed by the two, Johnson had plenty to say on tokenization and
generative artificial intelligence. When asked how Franklin Templeton benefited from tokenization, Johnson quickly
applied, first of all, I'm a huge fan of blockchain and the technology.
She described a situation where the company ran a side by side experiment to
process account records using both traditional methods and blockchain for a period of six to
eight months. As Johnson put it, the results were quite positive. We
were astonished by how much less costly it was to run on the blockchain.
What a statement, folks, what a statement. This technology is here to
stay. It is the future. It's running on top of the Internet.
It's going to get very fast adoption. And I think the numbers already show
that the Internet was the fastest adoption of any technology. Now blockchain and cryptos
outpacing that because, of course it's running on a much more efficient network,
and that is the Internet. It's a very efficient technology, and we think
it's going to open up a lot of new investment opportunities. And honestly,
Eventually, I think etf and mutual funds are all going to be on the
blockchain. She attributed this prediction to the huge costs associated with verifying data between
disparate systems, a problem that blockchain was intentionally designed to solve. Johnson further
pointed out that financial institutions and stakeholders will need to verify data between external parties
once the data is reconciled in house. Folks, I hope you see what's
happening. This is not coming from some random Joe Schmo, some guy on
the street corner. This is coming from the CEO of Franklin Templeton, a
company that existed before crypto and blockchain, that has trillions of dollars of assets
under management. They see the benefits, they see the potential of this technology.
They're going through their trial and error and testing phase now and clearly they're
seeing positive results. That's why black Rock and all these firms are not only
issuing ETFs, but they are tokenizing. They're even custodying some of the funds
and reserves of many companies crypto companies out there. Bullish times are ahead.
I hope you are exercising patients. I hope you are zooming out on the
charts and not getting shaken out by pullbacks and bears and what they may say
and scary stuff unless it's the apocalypse. Markets will continue to go forward and
grow once again. When in down, zoom out, zoom out on the
stock market, zoom out on the crypto charts, and you will see it.
Zoom out on the real estate charts as well. And this all goes
back to liquidity debasement of current see and as they keep doing that, asset
prices will rise. Obviously, the adoption and utility is a next layer that
adds value. But I'm trying to give you a holistic picture here, guys,
and I hope you see it. Thank you for watching, Thank you
for listening, folks, don't forget to grab a copy of my book,
Rethinking Crypto to Crash of FTX and a Rise of safer, stronger Assets,
which covers tokenization and what the future of crypto looks like. Grab a copy,
guys. It supports the podcast. Buy a copy for a friend or
family member who doesn't understand crypto, who's a skeptic. This book will help
them to understand it. Guys. So I appreciate you all, Thank you
for watching and listening, and I'll talk to you all later