WEBVTT

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Bitcoin continues its massive bullish momentum,
breaking sixty five, sixty six, sixty

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seven, and now sixty eight thousand
dollars all in one day. Some are

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saying seventy two thousand is the next
price point, and scumeback regulator Gary Genser

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delays the black rock etherorem etf What
does this mean? And Gary is also

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getting a favorable ruling from a judge
in the sec coinbased insider trading lawsuit.

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This is significant as it relates to
the XRP lawsuit and secondary sales of tokens

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on exchanges. We're gonna break this
down and much more. Let's get into

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it. Welcome to the Thinking Crypto
podcast. You're home for cryptocurrency news and

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00:00:49.000 --> 00:00:52.399
interviews. If you aren't new here, please hit that subscribe button as well

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as the thumbsup button and leave a
comment below. If you're listening on a

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podcast platform such as Spotify or Apple, please leave a five star rating and

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review. It supports the podcast and
it doesn't cost you anything. Well,

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folks, we got to start with
Bitcoin. It is going crazy, folks.

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It broke sixty five, sixty six, sixty seven and now sixty eight

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thousand dollars at the time of recording, it's at sixty eight, five hundred

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and thirty two dollars going insane,
folks. I think all your charts,

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all your analysis, all your thesis
have been thrown out the window, because

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if this thing was moving like previous
cycles, it would have already pulled back

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significantly, not to say the bull
market would be over just pulling back and

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building support levels. But it continues
to go parabolic. I mean, look

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at the daily chart, look at
these green candles, my goodness, man,

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and it's broken all the Fibonacci models
where you know, usually you see

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a replacement, but it's just going
and going and going. Here's what one

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analyst crypto Wizard is saying. Breaking
five days later, Bitcoin smashes the sixty

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six thousand dollars record as or price
point as I called it, seventy two

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thousand, five hundred dollars is next
new all time high soon. He looks

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like he might be right here,
folks. This thing has so much momentum,

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there's so much buying, and that
could be the price point that maybe

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it hits its rejection point once again
in the short term, a local top

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before pulling back, building support levels
and then working its way up. Now

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I was thinking the local top would
have been fifty k, and then we

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pulled back to thirty five k.
Obviously bitcoin is over extended right now.

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It's going higher than anticipated. I
don't think anyone saw this coming, especially

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ahead of the having. So if
it were to hit seventy two thousand,

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five hundred and then pull back,
it could find supported around fifty k or

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sixty k, and that would be
healthy. That would be normal. So

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just please understand. But look,
bigcoin could surprise everybody and just go do

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whatever the hell it wants and go
to one hundred thousand dollars. So have

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your plan. If you're planning to
take profits, you know, at ninety

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k one hundred k, like I
am, make sure you have that plan

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written down and stick to it.
Obviously not financial advice. I'm just saying

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avoid the emotional rollercoaster, right like, oh my god, what if it

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goes higher? What if I miss
out on higher gains? As long as

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you're making money, you know,
certainly that is the goal, and you

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can never call a top folks,
you no one has a crystal ball.

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So you have to stick to your
plan and take your profits. So incredible

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what is taking place. And if
we look at Google trends, we start

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to see that retail interest is starting
to pick up again. Here you can

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see Bitcoin searches in Google are starting
to pick up, and that's an indication

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retail is coming back in. So
that could be an indication of a local

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top coming in. But the ETFs
continue to vacuum and suck all the bitcoin

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out of the market. Here,
Eric Balcunis, who I recently had on

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the podcast of Bloomberg, said the
ten bitcoin ETFs a virtual lock to clock

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their second biggest volume day today,
So it looks like the big bump up

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in trading activity last week was more
than new normal, then an anomaly.

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So I've been saying this thing is
not going to slow down. It's only

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going to get bigger because the rias
and wealth managers are being educated right now,

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and that's a process right The marketing
is taking place, so Blackrock,

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Fidelity Wisdom, everybody is going to
be marketing this to rias, Hey,

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come buy our ets, put your
client's funds in our ETFs. So we

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are really in the early innings here. Here Eric continues, he says confirmed

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today was the second biggest volume day
for the ten at about five point five

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billion dollars. I bit alone did
two point four billion dollars of it and

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has crossed eleven billion dollars in AUM. Each of them is up over thirty

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percent in six days, which will
probably help keep flow ball rolling. Getting

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a bit of archmania. Deja vus, folks, This is incredible and I've

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been here for multiple bull market cycles. I have not seen anything like this,

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especially this early before the bitcoin having
something is different this cycle. I

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know the cliche thing is this time
is different, and I'm not ready to

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say this time is different, you
know, I'm gonna wait a little bit,

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but I would say we are seeing
from a micro standpoint, not the

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full macro because I need to see
the entire ballmarkt but from a micro in

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this period of time, something is
different. Incredible, incredible stuff. Here's

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some thoughts from some folks on Twitter
x which I agree with. James Lavish

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said, and the verdict is the
bitcoin ets were in fact not priced in.

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Some people were trying to say,
oh, they're priced in, but

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clearly not priced in. Haley Lennon, who will actually have on the podcast

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this week, said bitcoin almost back
at all time highs, Gemini earned users

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getting back bitcoin in kind sbf sam
Beck mcfreed sentencing later this month, having

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next month. Nature is healing,
so all good news around. You know,

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we of course talked about the Gemini
news last week and Bitcoin so close

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to breaking you all time highs.
It could do it tonight, folks.

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It could absolutely do it tonight with
the momentum it has. It's so close,

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man, I might not get any
sleep tonight. It's just exciting to

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watch this stuff. Incredible, incredible. Now, let's take a look at

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the top social media trending coins here
and let me refresh the chart so I

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give you guys the most relevant data. This was updated thirty five minutes ago.

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With no surprise, Bitcoin is leading
with a high positive sentiment. The

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meme coins are still showing up here. Sheba Knew at number two with strong

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positive sentiment, Phantom at number three
dog with hat This thing cracks me up.

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These meme coins are out here number
four, Floky another mean coin at

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five, Solana at six, like
coins still showing up at seven, Bitcoin

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cash boo I hate that at eight, Polka Dot at nine, and Veracity

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at ten. So those are your
top trending tokens. Overall, they have

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positive sentiment, good neutral sentiment.
And look there's some negative as well,

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but the positive vastly outweigh and negative. Here now some other interesting ETF news,

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folks, and this is a filing
from Blackrock filed with the SEC.

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So Macroscope reported Wall Street firms continue
to file for bitcoin ETF exposure in their

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in house investment funds. You are
going to see a lot of this in

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the coming months. After the close
of the trading today, Blackrock filed with

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the SEC for its Strategic Income Opportunities
portfolio. Here's a quote from the filing.

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The fund may require shares in exchange
traded products ETPs that seek to reflect

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generally the performance of the price of
bitcoin by directly holding bitcoin Bitcoin ETPs,

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including shares of a Bitcoin ETP sponsored
by an affiliate of Blackrock. Folks,

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there's more to come. I keep
telling you all. We are in the

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early innings. They're going to market
the hell out of this, says,

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Educate the ri i as and wealth
managers and build additional supplemental products around the

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et aps, and just and just
remember this is only bitcoin. Wait till

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the etherorem ETF and the all coins
come around. Now some of you are

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gonna say, hey, today the
SEC delayed the etherem METF. It's an

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it's not a matter of if,
it's just a matter of when Gary's gonna

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delay. We know that we're gonna
talk about it. But uh, eventually

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you're gonna have all coin baskets and
different all coin et apps and different products.

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Tons of capital is gonna flow in. It's incredible. What's happening now.

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be in the description. All right, The SEC and scumbag regulator Gary Genser

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have delayed the Blackrock erem ETF proposal
again. The report says the delay was

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expected putting a made decision on potential
ETFs and focus. So this could be

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a delay to push it to May
where the SEC approves multiple etherem ETFs.

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But we're dealing with a scumbag regulator, so we can and trust them.

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We have to watch this closely and
see what he comes out and says.

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Remember this is the guy before Congress
who can't say if he theorem is his

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security or not. Remember that hearing
with Patrick McHenry, folks. So we'll

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have to wait and see what they
decide to do. And if at that

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May twenty third day they approve all
the thee metfs, that would be incredibly

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bullish, obviously, But I am
not betting on Gary Ginster to do that.

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I'm fifty to fifty. I think
he may. He may delay this

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thing and take it to court.
Or look, maybe he surprises us.

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Because Elizabeth Warren is on the losing
side. She's got John Deeton coming after

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her. She's losing the narrative.
And it's an election year and Biden may

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need some votes because gainst her and
Elizabeth Warren are Democrats. So we have

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to understand that dynamic, the backro
dynamic from a political standpoint. So interesting

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times ahead. Now some not so
good news. New ruling in the SEC's

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Coinbase insider trading lawsuit comes as a
blow to the crypto industry as judge finds

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secondary token sales were securities. Now, remember in the Ripple lawsuit, Judge

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Taurus ruled that secondary sales of XRP, and obviously this is case law for

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the entire industry, are not securities. Because you can go buy tokens on

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in exchange. But you don't know
who the founder or who's building the project.

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You don't know any of that.
You can buy a bunch of them,

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right, You can buy a basket. You can say I want to

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buy the top ten or the top
five. So I absolutely agree with that,

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and the majority of the industry believe
in that logic and it makes common

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sense. However, you know this
judge ruled differently, and here Prosperity Fund

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gave the summary of what took place
here, saying breaking Another district court judge

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rules secondary sales of crypto on exchanges
art securities similar to the Library ruling and

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not like Ripple XRP ruling conclusion sec
will not settle XRP case with Ripple at

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least until the second Court or second
Circuit possibly rules in Ripple's favor, and

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unlike other judges cited above, prepare
for the long road ahead with uncertainty and

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possible overruling of either the SEC or
Ripple. So, folks, XRP does

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have the clarity, and I agree
with that, but I will always keep

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it real with you. I'm not
here to lie and to get clicks and

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views. I'm not here to tell
you conspiracies, theories and nice stories.

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Let's look at the facts. XORP
has the clarity. It has been relisted

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on exchanges, and it has the
clear pathway, the runway to have the

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liquidity flow from bitcoin down to XRP
and another all coins so that it takes

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off. I put my money where
my mouth is. I tweeted, and

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I told you guys, I bought
XRP at fifty five cents to swing trade

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it to a dollars thirty five.
That may not happen. That's not a

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guarantee, right, but that's my
investment strategy. I'm swing trading it.

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I also have an XRP long term
hold bag, so I believe you know,

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XRP will see some momentum. However, this case is not over,

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and that could bring some hesitation from
certain institutional investors to hold off because they're

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gonna see stuff like this and say, m what if some cold water gets

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poured on this when we are trying
to make a big bet. Right,

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So this is why you diversify.
Don't be an XRP maximist. Don't be

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a bitcoin maximist, don't be an
etherore maximist. Diversify this way. If

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one of your horses that you're betting
on doesn't do well, you have the

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others that can make you money,
folks. That's the cold, hard truth

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that is investing, not conspiracy theories, not things that make you feel nice

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and nice fairy tales and this and
that and whatever. Whether are the charts

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telling you? And what is happening
in the world? Reality of things?

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Right? You got to look at
these things from a realistic standpoint and not

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some sort of motivational speech. I'm
saying these things because I don't want people

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to get wrecked. Right. They
put all their eggs in one basket.

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And I see a lot of XRP
holders have been complaining like, hey,

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XRP is not moving, and I'm
like, guys, but bitcoins and ether

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is moving, and other coins are
moving. So are you not diversified?

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Are you putting all your money in
one token? That's not smart. So

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you've got to diversify. And the
goal here is to make some money.

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It's not fairy tales and nice stories
and make you feel well. That's not

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going to help you get financial freedom. So please, I hope those of

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you listening understand where I'm coming from. I am bullish an XRP, make

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no mistake about it, But I
have to be realistic. I always tell

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you, guys, look at it
holistically, not from one tunnel vision view.

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Holistically, what is the bullish,
what is the bear scenario. What

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are the facts? What is the
charts telling us? So please please understand

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that. But TLDR I think XRP
is fine unless there's some bad ruling coming

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in the months ahead. But I'm
putting my money where my mouth is and

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taking that bet, folks. So
we'll see how things play out. Now,

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this week is going to be big
for crypto. In Congress, Ron

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Hammond and the Block Chain Association gave
a summary. He said, busy week

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in DC with the FED Chair Jerome
Powell in front of the House and Senate

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CFDC chair benham in front of the
House super Tuesday tomorrow, and President Biden

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delivering his State of the Union.
Lots of angles for cryptos. So here's

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what to watch, he said.
One Powell in front of the Financial Committee

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the House Financial Services Committee on Wednesday
and Senate Banking on Thursday. While the

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broad economy will be focused will be
the focus, stable coins will likely come

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up. There hasn't been much public
progress on the bipartisan House stable coin bill,

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and reports indicate the FED is a
hold up. It has been three

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years since the Presidential Working Group on
stable Coin's call for legislation, and while

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the House moved on a bipartisan proposal
in July twenty twenty three. The Senate

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hasn't gotten as far. Sec Yelling
doubled down last month that Congress needs to

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act here. So many of you
saw. Janet Yellen said Congress needs to

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pass regulations for the crypto market as
well as stable coins. Number four CFDC

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Chairman Benham will be in front of
the House Agricultural GOP on Wednesday. This

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gives seven months after the Committee unanimously
voted to advance the Market Structure Bill.

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Like stables, that bill has also
stalled, and regulators like Yellen and Benham

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are asking for Congress to act soon. Five. President Biden will deliver the

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State of Union on Thursday, and
some initial reports indicate AI and tech policy

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will be mentioned. Unclear if that
means cryptos well, especially with the bull

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00:16:25.360 --> 00:16:30.360
run grabbing major headlines, but emerging
tech issues will be something to watch folks.

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If Biden mentions AI and crypto in
that speech, that's going to be

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really bullish, right, because it
means it can't be ignored anymore. They

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have to work towards some sort of
legislation and get things going here. Lastly,

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super Tuesdays upon US I have to
admit that the amount crypto has come

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up in both congressional and presidential races
have been shocking. A lot of that

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can be attributed to organizations like Standard
Crypto That's Coinbasis Initiative. We also have

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the Sedar Innovation Fund, the Blockchain
Coalition, and others. The surge in

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pro crypto candidates vying for office is
unprecedented, far surpassing previous years. Just

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a short while ago, only Andrew
Yang and Mike Bloomberg included crypto and their

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policy priorities. Whoever, this cycle, the regulation of crypto became a debate

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topic. Some claim there is an
anti crypto army, but at least for

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this election cycle, there is a
large cohort of incumbents and candidates from all

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over the political spectrum, including pro
crypto messaging throughout their campaign. Really haven't

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seen the same for anti crypto aka
Elizabeth Warren is by herself. It's her

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00:17:41.839 --> 00:17:45.119
and Gary Gainster is the anti crypto
army, right, There's nobody supporting her

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00:17:45.200 --> 00:17:49.200
there. The only thing she has
known for her is that she has control

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00:17:49.559 --> 00:17:55.240
in the Senate because you know,
the Democrats are in power, and she's

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got a lot of money right,
and she's got scumbag regulator Gary Ginster in

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00:17:59.200 --> 00:18:03.359
her back pocket. That's all she's
got going for. But from the voters

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00:18:03.559 --> 00:18:07.720
and from the political candidates and the
industry and what people think generally in the

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00:18:07.799 --> 00:18:12.440
market, they're not in alignment with
her. So incredible stuff here. Eleanor

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00:18:12.559 --> 00:18:18.079
Turrett will be interviewing this week a
reporter at Fox Business. She also covered

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00:18:18.119 --> 00:18:22.960
this talking about the first real test
for crypto in the twenty twenty four election

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00:18:22.240 --> 00:18:26.680
cycle, and she highlighted all the
money that's being raised by the crypto industry,

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00:18:26.720 --> 00:18:30.039
that super pac that is what Elizabeth
Warren is afraid. Some of that

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00:18:30.119 --> 00:18:33.160
money is going to go to John
Deaton. They have raised so far ninety

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00:18:33.240 --> 00:18:37.599
million dollars in the first quarter of
twenty twenty four to support various pro crypto

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candidates. Incredible, folks, Incredible
what's happening. We are on the winning

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00:18:44.359 --> 00:18:48.480
side of history. And while we
are facing different hurdles and challenges from the

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00:18:48.720 --> 00:18:53.519
likes of corrupt Elizabeth Warren and scumbag
regulator Gary Ginser, we've seen historically disruptive

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technology will win. It's as we've
talked about in the past. First,

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00:18:56.720 --> 00:19:00.400
they ignore you then they laugh at
you, then they fight you, and

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00:19:00.559 --> 00:19:04.440
then you win. So folks,
exciting times. Let's look at the bitcoin

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00:19:04.559 --> 00:19:11.319
chart here, just to refresh.
Has bitcoin gone higher? It's still holding

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00:19:11.359 --> 00:19:15.960
strong over sixty eight thousand, might
break sixty nine tonight and then you know,

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00:19:17.200 --> 00:19:19.880
touching that all all time high and
just create a new all time high.

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00:19:22.039 --> 00:19:25.400
It's incredible. What's happening all right, folks? Thank you for watching

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00:19:25.480 --> 00:19:27.039
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