Speaker 1: Bitcoin gets rejected off the two hundred day moving average,
Speaker 1: showing some signs of weakness. Is it time to panic?
Speaker 1: As bitcoin, crypto, and the stock market continued their down trend.
Speaker 1: I'll give you the details and some charts and where
Speaker 1: I think things are going to go next. Let's get
Speaker 1: into it. Hey, everybody, welcome into the Thinking Crypto Podcasts.
Speaker 1: You're home for cryptocurrency news and interviews. I'm your host,
Speaker 1: Tony Edward. On your way in. Please let that subscribe
Speaker 1: button as well as a thumbsup button and leave a
Speaker 1: comment below. If you're listening on a podcast platform such
Speaker 1: as Spotify or Apple, please leave a five star rating
Speaker 1: and review. Folks, we of course have to talk about
Speaker 1: bitcoin and the markets because right now Bitcoin is trading
Speaker 1: at eighty and fifty eight dollars. It has rejected off
Speaker 1: the two hundred day moving average, which we thought had
Speaker 1: been reclaimed. But this is along the lines of the
Speaker 1: caution that I gave when the rally started and Bitcoin
Speaker 1: went above the two hundred day moving average. I said,
Speaker 1: this could be simply a dead cat bounce, just a
Speaker 1: small relief rally, and we go back and test the lows.
Speaker 1: It seems like that's what we're doing. However, bitcoin does
Speaker 1: not hold key support levels here, we could be in
Speaker 1: trouble because when you look at what's happening overall with
Speaker 1: the stock market, like the SMP five hundred, the Dow Jones,
Speaker 1: even in NASDAC, they are also doing the same thing here.
Speaker 1: So this is not a good sign. And hopefully the
Speaker 1: bottom is around the corner. Different analysts are saying, you know,
Speaker 1: we could possibly go down to the seventies and that
Speaker 1: is like seventy five K, find the bottom there and
Speaker 1: then bounce. Some people are saying, maybe comes after April second,
Speaker 1: when some of the tariff news which is causing the
Speaker 1: macro uncertainty is behind us, So that could be a
Speaker 1: thesis there, but we have to wait and see, and
Speaker 1: we have to watch the charts very closely. Now. Some
Speaker 1: folks are saying, what bitcoin is forming here is a
Speaker 1: bit of a wike off accumulation and to drop below
Speaker 1: eighty five K is a bit of trying to shake
Speaker 1: people out because the narrative is out there of the tariffs,
Speaker 1: and then we'll find the bottom and start moving ourselves
Speaker 1: back up. But we got to be carefully here, guys. Now,
Speaker 1: do I believe we are in a bear market. Do
Speaker 1: I believe the bull market's over? No, But that doesn't
Speaker 1: mean that if bitcoin continues on the trend it's on
Speaker 1: and it doesn't find the bottom soon, that we can't
Speaker 1: enter a bear market. So right now, the signals and
Speaker 1: the data is showing me just a retest, right I
Speaker 1: look at the RSI, these are things we've seen before,
Speaker 1: and even in bull markets, we've seen bitcoin go below
Speaker 1: to two hundred day moving average. Just look at what
Speaker 1: happened last summer. I mean that was really rough, right
Speaker 1: because it stayed under there for a while, and it
Speaker 1: actually had a false breakout, went back down to the Japanese
Speaker 1: yen carry trade. It stayed down there for a while
Speaker 1: through August September until October when we started to break out,
Speaker 1: and then we had a very strong run up in
Speaker 1: Q four. So my hope is that it doesn't last
Speaker 1: as long as what took place last summer, guys, because
Speaker 1: that was pre brutal. But hopefully this is the final
Speaker 1: retest of the lows. Then we have the true breakout
Speaker 1: and once again, with the macro factor of April second
Speaker 1: and the tariffs that Trump has been talking about, they
Speaker 1: finally get to some sort of conclusion there and there
Speaker 1: is not as much uncertainty in the markets and we
Speaker 1: can start moving up. But the other factors which are
Speaker 1: very good and look bullish is that the DXY continues
Speaker 1: to break down. This is very good for risk assets.
Speaker 1: In addition, global liquidity it continues to rise. So these
Speaker 1: are factors that are very good in a bull market
Speaker 1: because it means it's still risk on and that assets
Speaker 1: will find your bottom and keep moving up. In addition,
Speaker 1: I always like to look at what the whales are doing,
Speaker 1: the guys who really move the market right, And we're
Speaker 1: seeing a big, strong uptick here the data some sentiment
Speaker 1: of bitcoin being accumulated. There was a bit of a
Speaker 1: slowdown over the past month, in fact, a bit of
Speaker 1: a decline coming out of Q four twenty twenty four.
Speaker 1: Now look at this big uptick. That's a very good
Speaker 1: signed the whales. They are buying up the dip and
Speaker 1: they are anticipating higher prices. In addition, other signals that
Speaker 1: have called the top, like the bigcoin pic cycle top indicator,
Speaker 1: nowhere close to signaling the top. And then you have
Speaker 1: this CBBI indicator, which uses a variety of metrics and
Speaker 1: aggregates them and formulates a score. It is not showing
Speaker 1: the top end. So I still believe we are in
Speaker 1: a bullmarket, not my emotions. Based on the data. There's
Speaker 1: going to be a lot of people coming out and
Speaker 1: saying it's over, this thing is done, look at what's happening, right.
Speaker 1: They're very emotional. There's also people shorting the market, so
Speaker 1: you've got to make sure you filter out the results
Speaker 1: people who just say it's over and they try to
Speaker 1: put fear out there because they want you to sell
Speaker 1: because they're shorting. Right, But we are still in a
Speaker 1: bull market based on the data. So I am not panicking,
Speaker 1: but I am concerned that I'll leave it at that.
Speaker 1: I am concerned, right, guys, because I want to see
Speaker 1: bigco find a bottom soon and get out of this zone.
Speaker 1: This is not a good thing to be below the
Speaker 1: two hundred day moving average. Nothing good happens below the
Speaker 1: two hundred day moving average. As I've been saying, right
Speaker 1: when the times when we are in a bullmarket, we
Speaker 1: are above it. If you look at when the bear
Speaker 1: market happens, we are in an extended down trend below it.
Speaker 1: So Bitcoin fingers crossed it finds the bottom. As always,
Speaker 1: the market moves a bitcoin and you'll see the all
Speaker 1: coins follow, because right now the all coins are just
Speaker 1: gonna bleed out and follow bitcoins lead. So ETHEREUM, XRP,
Speaker 1: whatever it is, are not going to show signs of
Speaker 1: strength right now until the macro uncertainty of tariffs are
Speaker 1: out of the way, and then we can continue to
Speaker 1: bullmarket because the stock market is also seeing just a
Speaker 1: ton of SELT pressure here. So that's where I'm att guys, concerned,
Speaker 1: not panicking. Bull Market's not over, but if we see
Speaker 1: in a week's time that this thing is still going down,
Speaker 1: bigcoin's going out to sixty K. I'm gonna say, guys,
Speaker 1: I am a bit worried now, right, but not there yet,
Speaker 1: all right, guys. Some other news that we got coming
Speaker 1: out is that the Say Foundation SEI explores takeover of
Speaker 1: bankrupt twenty three and meters in the boldest DCI bet yet.
Speaker 1: So this is fascinating. I can't think of, you know,
Speaker 1: any major crypto company or token project like Say that
Speaker 1: has gone out and bought a traditional company and looking
Speaker 1: to start a new aspect of crypto where you're you know,
Speaker 1: putting blockchain into a specific industry like what twenty three
Speaker 1: and me does, So let me give you some details.
Speaker 1: One day after twenty three and meter received clearance from
Speaker 1: a judge to put itself up for sale, the SAY
Speaker 1: Foundation said it is in the process of placing its
Speaker 1: boldest DCID bet yet by exploring the acquisition of the
Speaker 1: genetic testing company. Here's a quote. We believe user data
Speaker 1: sovereignty is a matter of national security, the Safe Foundation said,
Speaker 1: which supports the Layer one blockchain, SAY wrote Thursday in
Speaker 1: an expost. When an American biotech pioneer faces bankruptcy, personal
Speaker 1: geonomic data of millions become vulnerable to parties that may
Speaker 1: not share the same values of transparency and open access.
Speaker 1: These SAY Foundation says, this is to defend the genetic
Speaker 1: privacy of fifteen million Americans and ensure their data is
Speaker 1: protected for generations to come. So this is fascinating and
Speaker 1: could be the start of a trend where we see
Speaker 1: a lot of crypto companies buy up a dyeing or
Speaker 1: bankrupt companies in different industries and an inject blockchain and
Speaker 1: help renew them, bring life back, and even change your
Speaker 1: business model a bit. So this could be another way
Speaker 1: that a blockchain in crypto tech is used in different
Speaker 1: industries and it just creates another boom. So I often
Speaker 1: talk about my sponsor Propy, which is disrupting the real
Speaker 1: estate market, and you have other folks who are doing
Speaker 1: depen and now you have DSi. This could be really interesting,
Speaker 1: you know, disrupting the healthcare science, medical industry in introducing
Speaker 1: blockchain in different ways. So this is fascinating something to
Speaker 1: keep an eye on. I'm going to watch this closely
Speaker 1: because I don't hold to say token, but if they're
Speaker 1: making moves like this and they're looking to open up
Speaker 1: different utility and things like that, I may have to
Speaker 1: look at adding it to my portfolio. Now, we got
Speaker 1: news here that hashkey both Sarah to launch tokenized money
Speaker 1: market ETFs as part of Hong Kong's project and Symbol initiative.
Speaker 1: So we're seeing globally the race for tokenization, guys, tokenized
Speaker 1: assets RWA, and Hong Kong, which is controlled by China,
Speaker 1: I believe is the testing ground for a lot of
Speaker 1: crypto and web three projects. They have their own ETFs,
Speaker 1: and I believe China is going to open up crypto
Speaker 1: ETF investing to their citizens in the mainland very soon.
Speaker 1: And that could be the catalyst that comes for the
Speaker 1: next run up. We'll have to wait and see. But guys,
Speaker 1: I am just seeing adoption globally and that makes me
Speaker 1: very bullish. So Hashkei Group, an Asia based crypto financial
Speaker 1: services firm, is collaborating with Bosara Asset Management to launch
Speaker 1: what they claim to be the world's first money market
Speaker 1: exchange traded funds next month. In a statement released Friday,
Speaker 1: the duo said they plan to launch tokenized shares for
Speaker 1: two existing money market ETFs, the both Sarah HKD Money
Speaker 1: Market ETF and the Bossera USD Money Market ETF. The
Speaker 1: Hong Kong Securities and Futures Commission has approved the two
Speaker 1: tokenized ETFs. Such tokenized ETFs are part of a larger
Speaker 1: project Ensemble Sandbox initiated by the Hong Kong Monetary Authority
Speaker 1: the de facto Central Bank, to explore tokenization of real
Speaker 1: world assets. So the Central Bank is saying, hey, you
Speaker 1: got the green light, guys, I hope you see what's
Speaker 1: happening here. It's not just the United States. This thing
Speaker 1: is happening globally and a lot of the world superpowers
Speaker 1: are getting involved. So hashke Exchange will serve as the
Speaker 1: primary distribution channel for the tokenized ETFs, enabling investors to
Speaker 1: gain exposure or direct exposure to high quality money market
Speaker 1: instruments by tokens, the company said. DeFi investors will then
Speaker 1: have another tool to balance their yields to mitigate market risk.
Speaker 1: The company said, So notice how this opens up DeFi.
Speaker 1: And if you recall just this past week, Fidelity they
Speaker 1: are looking to tokenize a money market fund as well.
Speaker 1: That news was announced. They're looking to do it on
Speaker 1: etherorem so they're following Blackrock. Black Rock was the leader here.
Speaker 1: So the competitions on game theory is playing out here.
Speaker 1: Here's a quote. Bringing money market ETFs on chain through
Speaker 1: blockchain technology is a crucial step for traditional finance to
Speaker 1: embrace web three, Zao Feng, chairman and CEO of Hashke
Speaker 1: Group said in this statement. Last month, OSL, another regulated
Speaker 1: crypto exchange operated in Hong Kong, launched a tokenized mutual
Speaker 1: fund China am see HKD digital money market fund. Wow,
Speaker 1: that's a mouthful. We don't have details on which blockchain
Speaker 1: you're using, so that's something I'm going to research and
Speaker 1: see if we get the details there. But guys. The
Speaker 1: global race towards blockchain and cryptos here and as I've
Speaker 1: been saying, the economies, the markets, in the governments will
Speaker 1: be running on blockchain. Guys. This is the future. So
Speaker 1: this is why we're here taking our bets. This is
Speaker 1: why we're stummaching through the volatility, the roller coaster ride.
Speaker 1: This is part of it, right with investing, as you
Speaker 1: all know, it requires a lot of patience and you've
Speaker 1: got to do your research. This is not playing the lottery,
Speaker 1: This is not going to the casino. This you have
Speaker 1: to put some effort in. You have to educate yourself
Speaker 1: and pay attention to what's happening. And obviously that's why
Speaker 1: you watch and listen to this podcast and not only
Speaker 1: this one, but others, and you make sure you're reading
Speaker 1: up and you're paying attention to what's happening, because this
Speaker 1: is an opportunity of a lifetime. But as with the
Speaker 1: nature of markets, they are affected by external factors as well,
Speaker 1: like macro factors like terrorists and all this stuff that's
Speaker 1: going on. But I think these are just short term things.
Speaker 1: This is not some thing that's going to linger and
Speaker 1: hold back all markets. I mean, people often forget like,
Speaker 1: look what happened in March twenty twenty, right, that was
Speaker 1: a reason to panic because we didn't know what was
Speaker 1: going on. It was a pandemic global Go back to
Speaker 1: two thousand and eight that crash. Sure you panic, but
Speaker 1: the smart money bought the blood in the streets. Right.
Speaker 1: You listen to Warren Buffett, Charlie Munger, these guys who've
Speaker 1: been doing it for a long time, they say the
Speaker 1: same thing. Right, you got to bypass your emotions. You
Speaker 1: have to make sure you're patient, and you have to
Speaker 1: have a macro outlook, and you got to buy the
Speaker 1: fear the blood in the streets. So right now, if
Speaker 1: you're feeling fearful where you can't even fathom buying the dip,
Speaker 1: you're not there yet. As far as understanding the concept
Speaker 1: of investing right now. Obviously you don't invest money you
Speaker 1: can't afford to lose, or you don't put your life
Speaker 1: savings into assets. That's not a smart thing to do.
Speaker 1: But you want to look for opportunities. So we'll I
Speaker 1: personally be looking to buy up some all coins. Yeah,
Speaker 1: and I'll let you guys know when I do take
Speaker 1: positions in certain all coins. But as stated the beginning
Speaker 1: of the podcast, Guys, we're still in the bull market.
Speaker 1: No invalidation yet. However, if bitcoin does not find a
Speaker 1: bottom soon and it keeps going down, guys, that's going
Speaker 1: to be a bad sign. We want to get it
Speaker 1: above that two hundred day moving average, so we'll have
Speaker 1: to watch as closely. Guys. That's the news. Be sure
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Speaker 1: check out my new course at mycrypto course dot com. Guys,
Speaker 1: thank you for watching and listening. I appreciate you all,
Speaker 1: and I'll talk to you all later