WEBVTT

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<v Speaker 1>Bitcoin has pulled back this sixty eight thousand dollars. What's happening?

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<v Speaker 1>Where is this bull market? Is it the election uncertainty

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<v Speaker 1>that's causing all these problems? I'll share my thoughts the

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<v Speaker 1>charts and what other expert analysts are saying. Well, let's

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<v Speaker 1>get into it. Hey, everybody, welcome into the Thinking Crypto podcast.

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<v Speaker 1>You're home for cryptocurrency news and interviews. I'm your host,

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<v Speaker 1>Tony Edward. On your way in, Please hit that subscribe

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<v Speaker 1>button as well as the thumbsup button and leave a

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<v Speaker 1>comment below. If you're listening on a podcast platform such

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<v Speaker 1>as Spotify or Apple, please leave a five star rating

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<v Speaker 1>and review. Folks, let's talk about bitcoin, because it pulled

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<v Speaker 1>back significantly. It went below sixty eight thousand dollars. However,

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<v Speaker 1>when you look at the daily chart, we are still

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<v Speaker 1>seeing higher highs and higher lows. However, this low that

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<v Speaker 1>it put in is dangerously close to the higher low

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<v Speaker 1>that was set before. It hasn't broken it and it

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<v Speaker 1>hasn't been invalidated yet, but we have to make sure

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<v Speaker 1>that we are looking at both the bullish and the

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<v Speaker 1>bear scenario. Now, I personally believe based on the chart

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<v Speaker 1>movements based on what's happening with the DXY breaking down

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<v Speaker 1>as well, that Bitcoin will continue to move upwards. But

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<v Speaker 1>I'm also prepared for if this gets invalidated and then

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<v Speaker 1>we have to go back to the drawing board. Now,

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<v Speaker 1>from a macro standpoint, when we're looking at the let's

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<v Speaker 1>say six months or yearly perspective, we are still on

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<v Speaker 1>track in this bull market. There hasn't been any major invalidation,

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<v Speaker 1>and as we've been seeing, Bitcoin has been crawling its

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<v Speaker 1>way out of this accumulation zone and it, of course

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<v Speaker 1>last week touched seventy three thousand dollars and that's a

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<v Speaker 1>very good sign. So it's knocking at the door to

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<v Speaker 1>break out of that all time high set earlier this

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<v Speaker 1>year and then enter into price discovery. Now, of course,

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<v Speaker 1>we can't really look at all coins. We have to

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<v Speaker 1>look at Bitcoin. It's the measuring stick that we have

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<v Speaker 1>to use, because the liquidity generally enters Bitcoin and then

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<v Speaker 1>it flows down to the all coins. That's not to

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<v Speaker 1>say liquidity can come in directly to some all coins.

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<v Speaker 1>We've seen that like and Swie and so forth. But

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<v Speaker 1>generally for the entire crypto market to move, we need

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<v Speaker 1>Bitcoin to have that strength and to bring in a

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<v Speaker 1>ton of liquidity. So we have to pay attention closely

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<v Speaker 1>to the charts over the next week or so because

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<v Speaker 1>the election, as I've been telling you guys, is causing

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<v Speaker 1>a lot of uncertainty and you're going to see a

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<v Speaker 1>lot of volatility. And this is true for all markets,

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<v Speaker 1>it's not just true for crypto. So once the election's

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<v Speaker 1>out of the way, we're going to see less volatility

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<v Speaker 1>in the market and people can start focusing in markets

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<v Speaker 1>versus politics and the election and so forth. Here's what

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<v Speaker 1>different analysts are saying. When analysts said the following, don't panic.

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<v Speaker 1>This can be nothing but a casual bullish retest of

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<v Speaker 1>its two hundred and thirty days diagonal resistance. Speaking of bitcoin,

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<v Speaker 1>and if you look at the chart here that they provided,

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<v Speaker 1>you can see it is within the trend lines and

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<v Speaker 1>the structure here. So the analyst said, if this holds,

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<v Speaker 1>we can get continuation. If it fails, sixty four K

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<v Speaker 1>and sixty K are he says, personally, I bet on

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<v Speaker 1>bullish continuation. I'm of the same mindset, not because I'm biased,

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<v Speaker 1>but because of the technicals and the charts and what

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<v Speaker 1>the macro's doing and what we've seen historically from a

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<v Speaker 1>seasonal standpoint, but once again, there is a bearish case

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<v Speaker 1>that if this fails, it could trigger a series of

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<v Speaker 1>other events and we have to go back to the

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<v Speaker 1>drawing board. So we want to keep it balanced now.

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<v Speaker 1>Even before bitcoin broke down here, crypto Wizard had shared

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<v Speaker 1>a chart on October twenty ninth highlighting that this was

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<v Speaker 1>going to be a normal move for bitcoin. It would

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<v Speaker 1>pull back to about sixty a K because it made

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<v Speaker 1>a huge move up to seventy three K, and he

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<v Speaker 1>had said at that point the descending channel in bitcoin

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<v Speaker 1>has been broken out after eight months. A breakout above

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<v Speaker 1>seventy two K opens the door to a new all

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<v Speaker 1>time high to eighty two K, and he highlighted here

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<v Speaker 1>a rtest of that support level. So this was something

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<v Speaker 1>that was not off the table or out of the

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<v Speaker 1>conversation here. It was a possible snare. It didn't mean

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<v Speaker 1>it had to happen, but we're talking probability here now.

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<v Speaker 1>Crypto Wizard also shared a macro chart here zooming out

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<v Speaker 1>showing the different market cycles and their relation to the elections,

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<v Speaker 1>So showing where we're at here for the twenty twenty

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<v Speaker 1>four elections, showing where we're we were at in twenty

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<v Speaker 1>twenty for that election. In twenty sixteen as well, and

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<v Speaker 1>you can see bitcoin had not really put in any

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<v Speaker 1>major gains, mostly retracing to its prior all time highs.

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<v Speaker 1>That's pretty much where we're at, So we need this

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<v Speaker 1>election out of the way. I know, I keep repeating myself,

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<v Speaker 1>but we've seen this before. This is not unusual, and

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<v Speaker 1>the only thing that's a little bit different is that

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<v Speaker 1>Bitcoin hitting new all time high before the having at

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<v Speaker 1>the beginning of this year, so it put us ahead

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<v Speaker 1>of schedule. But this slowdown and boring zone and accumulation

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<v Speaker 1>zone is putting us back on tracks. So once again,

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<v Speaker 1>no major invalidation of the bull market. I'm here to

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<v Speaker 1>make money, so I don't have time to play games,

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<v Speaker 1>don't I'm not here to lie to you guys to

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<v Speaker 1>get views or whatever it is. I want Bitcoin to

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<v Speaker 1>go to one hundred and fifty K and now it

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<v Speaker 1>will be game change, not only because I hold Bitcoin,

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<v Speaker 1>but for all coins. So I'm in the same boat

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<v Speaker 1>as you guys. I know it can be frustrating, I

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<v Speaker 1>know it can be painful, but this is where patience

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<v Speaker 1>is so important in investing Now. Jason Pisino, who's a

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<v Speaker 1>great analyst guy, so I highly recommend you follow him.

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<v Speaker 1>He's on Twitter, but he's also on YouTube. I listen

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<v Speaker 1>to a lot of his content. He said, the US

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<v Speaker 1>Election twenty twenty four update. It doesn't look like this

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<v Speaker 1>US election will be a clear Trump win, which the

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<v Speaker 1>markets US stock markets and bitcoin have been preparing for

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<v Speaker 1>over the last week or so. We know this election

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<v Speaker 1>has been quite tight. Guys, some of the polling and

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<v Speaker 1>so forth show this. Now I'm gonna get a lot

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<v Speaker 1>of comments. People are going to say, you're an idiot.

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<v Speaker 1>Trump is clearly winning. Right. People are in their own

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<v Speaker 1>bubbles and they only want to hear things that validate

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<v Speaker 1>their bias. The point is, until election day the results

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<v Speaker 1>are in, we don't know. It is not that clear.

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<v Speaker 1>It's very tight. And I'm not saying Harris is gonna win.

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<v Speaker 1>Maybe Trump wins, but the point is we don't know,

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<v Speaker 1>and we have to wait for the results, and we're

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<v Speaker 1>not here to invest with our emotions. And yet emotional

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<v Speaker 1>and worked up and triggered, Let's look at the data

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<v Speaker 1>and let's look at what's happening. So Jason continues. He says,

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<v Speaker 1>If Harris wins, the markets will likely freak out in

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<v Speaker 1>the direction of the current trend down. However, they'll eventually

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<v Speaker 1>realize that the massive amount of stimulus money coming will

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<v Speaker 1>pump the markets once again. And this here, folks, what

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<v Speaker 1>Jason is saying is the macro factors. People get so

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<v Speaker 1>caught up in narratives and so forth, but at the

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<v Speaker 1>end of the day, bitcoin is not correlated to Trump.

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<v Speaker 1>Bitcoin is not correlated to Republican or Democrat. Bitcoin has

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<v Speaker 1>pumped under Obama, Trump, Biden, so on and so forth.

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<v Speaker 1>It doesn't care who the president is. What it's correlated

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<v Speaker 1>to is global liquidity and the money printer, folks, where

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<v Speaker 1>the money printer feeds global liquidity, the Fiat system we

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<v Speaker 1>live in. They will go back to printing money. I've

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<v Speaker 1>been telling you guys for a year now. They cut rates,

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<v Speaker 1>they go back to It's a process. It doesn't happen overnight,

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<v Speaker 1>and that's what drives markets. Yes, there are other factors

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<v Speaker 1>going to drive the evaluation and demand for stocks and

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<v Speaker 1>different things, because companies have great earnings, new technology, YadA, YadA.

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<v Speaker 1>But at the end of the day, the main factor

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<v Speaker 1>is the denominator, the US dollar, which they continue to

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<v Speaker 1>debase and continue to print more of and guess what

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<v Speaker 1>they're going to continue doing, folks, as they cut rates

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<v Speaker 1>and keep raising the debt ceiling, print money. So Jason

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<v Speaker 1>is saying, in the short term, you may see some

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<v Speaker 1>downside pressure because there's this narrative out there that Trump

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<v Speaker 1>is going to be better for a bitcoin and crypto

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<v Speaker 1>and so forth. But at the end of the day,

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<v Speaker 1>bitcoin and crypto will continue to move because it is

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<v Speaker 1>correlated to the money printing. So watch the M two

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<v Speaker 1>money supply from the fat watch global liquidity. That's what

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<v Speaker 1>I'm looking at now. As I've said many times, Trump

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<v Speaker 1>would I think be better for crypto businesses from a

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<v Speaker 1>clarity standpoint, But asset prices are not dependent on Trump.

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<v Speaker 1>So if you are running with that narrative, you're missing

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<v Speaker 1>the mark. You're not looking at data. You're looking at

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<v Speaker 1>your feelings, your emotions, your bias, your political bias, and

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<v Speaker 1>so forth. And both Democrats and Republicans print money. That's

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<v Speaker 1>this fiat system we live in. So Jason continues saying,

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<v Speaker 1>so expect volatility while swings would upside to resume. He says,

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<v Speaker 1>if Harris wins, dump a little ranged and Pump. If

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<v Speaker 1>Trump wins, probably Pump then pump more. Both are still

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<v Speaker 1>bullish medium to long term. Both have the same endgame,

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<v Speaker 1>just a different path to get there. So this is

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<v Speaker 1>one people who study data and analytics and stats are

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<v Speaker 1>looking at, not their emotions, but what the correlation is

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<v Speaker 1>for these asset prices. He says, overall, my analysis has

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<v Speaker 1>not indicated any change in the cycle. Therefore, I expect

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<v Speaker 1>higher prices with more volatility as it is the winner's

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<v Speaker 1>curse phase of the eighteen year cycle, something I've been

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<v Speaker 1>covering for many months now. I'll be sure to check

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<v Speaker 1>out his channel, guys. He covers a lot of stuff,

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<v Speaker 1>and once again, this is not emotional, This is not politics.

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<v Speaker 1>This is markets and liquidity and what the FET is

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<v Speaker 1>doing and what other central banks around the world are doing.

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<v Speaker 1>So please understand me. I'm not trying to say don't

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<v Speaker 1>go vote for the candidate you love or you want

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<v Speaker 1>to vote for, because there's many other issues to vote on,

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<v Speaker 1>But when it comes to things like asset prices and markets,

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<v Speaker 1>there are true fundamentals that you need to pay attention

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<v Speaker 1>to and understand how they work. So I'm in full

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<v Speaker 1>agreement with what Jason's saying here now, guys, quick word

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<v Speaker 1>more about v chain, go to vchain dot org. Now,

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<v Speaker 1>on the topic of politics, Vivek Ramaswami's Strive launches a

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<v Speaker 1>wealth management arm to bring bitcoin to standard portfolios. Now

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<v Speaker 1>we know Vivec understands crypto, we know Trump is procrypto,

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<v Speaker 1>and much more, JD. Vans and all these guys understand it.

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<v Speaker 1>We're seeing a lot of trad fi folks are now

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<v Speaker 1>launching an armed to investing crypto, building with crypto and

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<v Speaker 1>much more so. Strive Enterprises, an ascid manager co founded

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<v Speaker 1>by former presidential candidate and current Trump surrogate Vivek Ramaswami

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<v Speaker 1>announced the creation of its wealth management business. The business

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<v Speaker 1>aims to integrate bitcoin into standard portfolios of everyday Americans

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<v Speaker 1>and launches amid a corporate move and the closure of

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<v Speaker 1>a thirty million dollar investment round. Everybody is coming for crypto.

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<v Speaker 1>They want it, and they're creating financial products, they're building

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<v Speaker 1>with it and much more. It's pretty incredible. Now check

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<v Speaker 1>this out. US governments seeks to return thirteen million dollars

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<v Speaker 1>in political donations from former FTX executives. This is interesting.

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<v Speaker 1>The US government has been given more time to negotiate

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<v Speaker 1>with certain political action groups over the return of up

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<v Speaker 1>to thirteen point twenty five million dollars in donations made

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<v Speaker 1>in the names of former FTX executive Sam Beck, Merfried

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<v Speaker 1>and Nishad Singh. A recent filing shows the political groups

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<v Speaker 1>in question are mostly Democrat aligned and include Senate Majority PACK,

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<v Speaker 1>Emily's List, Slash Women Vote, and The Future for Pack,

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<v Speaker 1>which received six million dollars. Singh was recently sentenced to

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<v Speaker 1>time serve and three years of supervised release, allowing the

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<v Speaker 1>former FTX engineering director to avoid prison time. So we're

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<v Speaker 1>seeing some clawback here of those political donations. And this

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<v Speaker 1>was a topic I remember speaking to Anthony Scaramucci about

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<v Speaker 1>when I did an interview with him, and it's fascinating.

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<v Speaker 1>Let's see how much more they pulled back. And remember

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<v Speaker 1>Maxine Waters was hugging up SBF, blowing him kisses, stuff

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<v Speaker 1>like that, because he was doing big donations to the Democrats. Now,

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<v Speaker 1>don't get me wrong, he also donated to Republicans, but

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<v Speaker 1>a majority of his donations were to the Democrats, and

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<v Speaker 1>that's probably because Biden and the Democrats were in office

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<v Speaker 1>around the time when he was making his rounds in Washington,

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<v Speaker 1>d C. But of course he was committing epic fraud,

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<v Speaker 1>stealing people's funds and much more, and he was meeting

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<v Speaker 1>with the SEC and Gary Gins and they did nothing

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<v Speaker 1>to stop all this nonsense. But thank goodness, we're seeing

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<v Speaker 1>some resolution here. The bankruptcy proceedings are happening where people

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<v Speaker 1>would get back some money. And SBF is in jail,

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<v Speaker 1>all of his partners in crime, Caroline and all these

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<v Speaker 1>folks in jail. So the nature is healing folks now. Apparently,

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<v Speaker 1>there were some rumors that Tether was launching its own blockchain,

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<v Speaker 1>and tethers CEO Paolo Arduino cleared up the rumors, saying,

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<v Speaker 1>I hear again few rumors about a Tether chain. Tether

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<v Speaker 1>is not planning to build an official blockchain at this time,

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<v Speaker 1>simply different independent Eltime two solutions are working to support

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<v Speaker 1>USDT for gas V. So I don't know who started

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<v Speaker 1>the rumor, but they're trying to say Teller was going

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<v Speaker 1>to launch its own blockchain or whatever it is, but

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<v Speaker 1>they said clearly they're not doing that. So that's a news. Folks.

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<v Speaker 1>Let me know what you think about the election and

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<v Speaker 1>the markets and what's happening with Big One. I think

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<v Speaker 1>expect a lot of volatility as we head into tomorrow, Monday,

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<v Speaker 1>and of course Tuesday, and look, it's kind of like

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<v Speaker 1>the Fed meeting weeks where you have a ton of

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<v Speaker 1>volatility that we could probably see a lot of that

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<v Speaker 1>this week, so you kind of have to let the

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<v Speaker 1>dust settle and go into the following week. I've seen

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<v Speaker 1>that historically with markets. You can't judge it the week

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<v Speaker 1>of there's just so much going on, So just be

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<v Speaker 1>mentally prepared that you're going to probably see some wild

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<v Speaker 1>swings maybe you know, maybe I don't want to say

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<v Speaker 1>that's a guarantee, but be mentally prepared as an inform

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<v Speaker 1>educated investor, right, you want to be prepared for all

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<v Speaker 1>these things so you're not rocking in the sea of

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<v Speaker 1>volatility like a ship without an anchor. So I hope

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<v Speaker 1>you guys understand what I'm saying here, and I'm saying

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<v Speaker 1>to some experience, because I've been through all of that

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<v Speaker 1>and I had to learn my lessons and not be

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<v Speaker 1>not moved by my emotions and what the markets are doing.

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<v Speaker 1>But look at the macro, look at the charts, look

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<v Speaker 1>at the technicals, and what story and even on chain

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<v Speaker 1>data that we have encrypt what story is that telling me?

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<v Speaker 1>So let me know what you guys Thinkly for your

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<v Speaker 1>thoughts comments below. A great way to support me in

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<v Speaker 1>the podcast, guys, is to sign up for my free

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<v Speaker 1>email newsletter on substack. It's one hundred percent free. Also,

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<v Speaker 1>grab a copy of my book, Rethinking Crypto. It's available

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<v Speaker 1>on Amazon and paperback in digital. Buy a copy for yourself,

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<v Speaker 1>Buy a few copies for your friends and family, give

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<v Speaker 1>them as gifts this holiday. Help them to learn about

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<v Speaker 1>this technology NASCID class and if you bought a copy ready,

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<v Speaker 1>please leave a five star rating and review. It will

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<v Speaker 1>really help me out thank you so much. I appreciate

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<v Speaker 1>you all, and I'll talk to you all later. Tasty stuff,

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<v Speaker 1>Stan