Speaker 1: This is going to be a very big week for
Speaker 1: the markets as the FED gets ready to cut rates.
Speaker 1: What will we see for bigcoin and all coins this week?
Speaker 1: As ETF inflows Bitcoin ETF inflows remain steady. In addition,
Speaker 1: Ripple apparently is working with bitstamp and Robinhood to build
Speaker 1: something on the XRP ledger. I'll give you the details.
Speaker 1: Let's break it down. Hey, everybody, welcome into the Thinking
Speaker 1: Crypto Podcasts. You're home for your cryptocurrency news and interviews.
Speaker 1: I'm your host, Tony Edward. On your way in. Please
Speaker 1: let that subscribe button as well as a thumbs up
Speaker 1: button and leave a comment below. If you're listening on
Speaker 1: a podcast platform such as Spotify or Apple, please leave
Speaker 1: a five star rating and review. Folks, we have a
Speaker 1: very big week coming up. The FED is expected to
Speaker 1: start cutting rates September eighteenth. We will hear the announcement
Speaker 1: and many are expecting twenty five basis points, but it
Speaker 1: could be fifty. I'm personally anticipating twenty five basis points
Speaker 1: and from a macro perspective, this is very good. This
Speaker 1: is the start of the easy money cycle. Cheaper capital
Speaker 1: people will be able to borrow at a cheaper rate.
Speaker 1: Of course, we went from quantitative tightening to pause to
Speaker 1: now going back to quantitative easing, and they will have
Speaker 1: to start to print money to service the debt. So
Speaker 1: all of that means asset prices will rise. However, as
Speaker 1: I've been saying, this is a bloody September, it has
Speaker 1: not been good for market, so we can expect a
Speaker 1: lot of volatility. Guys, we could see things dump possibly
Speaker 1: this week. And hear a credible crypto who's a great analyst.
Speaker 1: I've had him on the podcast a few times. You know.
Speaker 1: He highlighted on his chart here what he expects for
Speaker 1: bitcoin as we head into later September before we hit October,
Speaker 1: and bitcoin could potentially dump below fifty thousand, going to
Speaker 1: around forty six forty seven thousand. Now this is not
Speaker 1: a guarantee, but as educated inform investors, we want to
Speaker 1: be prepared for all scenarios. Mentally, be prepared for both
Speaker 1: the bullish and the bearers, so that when these things happen,
Speaker 1: are emotions don't take hold of us. We're looking at
Speaker 1: the analysis, we're looking at the macro, we're looking at
Speaker 1: the fundamentals, so be prepared for additional volatility. I would
Speaker 1: love for bitcoin this week to start running up to
Speaker 1: new all time highs, but the higher probability is we
Speaker 1: see a lot of volatility, maybe a little bit more
Speaker 1: downside before we find at bottom and we head up
Speaker 1: to new all time highs as we start Q four,
Speaker 1: which has historically been very good for the markets. Now,
Speaker 1: some other indicators that have shown that we have not
Speaker 1: hit the top yet is the bitcoin pie cycle top indicator.
Speaker 1: You can see here that orange line, which is the
Speaker 1: one hundred day moving average, has not crossed the three
Speaker 1: hundred and fifty day moving average, and in fact he
Speaker 1: started deviating a bit as bitcoin pull back. So guys,
Speaker 1: we are still on track based on historical patterns. If
Speaker 1: you go look at the chart on Trading View, look
Speaker 1: at where we were at in twenty sixteen of September
Speaker 1: twenty sixteen, where we were at in September twenty twenty,
Speaker 1: similar patterns playing out here. Bitcoin ran up fast earlier
Speaker 1: this year, hitting a new all time high before the
Speaker 1: having so it's now slowing down to normalize to the
Speaker 1: normal market pace if you want to call it that.
Speaker 1: So we're still on track. I think earlier this year
Speaker 1: we were all thinking this thing is moving faster and
Speaker 1: expected we're going to see new all time highs one
Speaker 1: hundred k sooner than later. But Bitcoin's like no pump brakes.
Speaker 1: We're going to get back to normal pace here. But
Speaker 1: a lot of it is because it's following the macro
Speaker 1: cycle as well. The other factor that's very bullish the
Speaker 1: supply and exchanges remains low. It continues to dip. That's
Speaker 1: very good. That means there's less selling happening on the exchanges.
Speaker 1: What we've seen historically is when bitcoin starts hitting new highs,
Speaker 1: the supply heads up to the exchange and people start
Speaker 1: taking profits. This actually took place back in March into May,
Speaker 1: as Bigcoin was hitting that seventy three thousand price, the
Speaker 1: exchange volume started spiking. So this is why we want
Speaker 1: to look at different metrics to see what's happening in
Speaker 1: the market. Tell us the story and the other factor,
Speaker 1: as mentioned earlier, money supply is going up globally. Global
Speaker 1: liquidity is up. If you look at the Fed's website
Speaker 1: the M two money supply in the United States, it
Speaker 1: is up, folks. This data is public, you can go
Speaker 1: look at it. So I'm not lying here. I'm not
Speaker 1: making this up. This is data you can go research. Now,
Speaker 1: another major factor that's going to drive a lot of
Speaker 1: liquidity into the market is right now, money market funds
Speaker 1: have about over six trillion dollars in them. And I
Speaker 1: tweeted about this today, and in fact, Nate Jerrasi and
Speaker 1: I had spoken about it back in August when I
Speaker 1: interviewed him. Essentially, a lot of investors put their cash
Speaker 1: into money market funds because they were earning over five
Speaker 1: percent interest right so they were earning a high yield.
Speaker 1: It made sense I did that. I spoke to my
Speaker 1: financial advisor who handles my equities and stocks and so forth,
Speaker 1: to put a ton of cash into the money market
Speaker 1: funds because you're at risk free, you're earning that yield. Well,
Speaker 1: as rates start cutting, where's the capital going to go, folks?
Speaker 1: They're going to start to go risk on the investors,
Speaker 1: that is, they're going to go back to equities and
Speaker 1: crypto and so forth. So that's a lot of money
Speaker 1: that's going to start coming back into the markets. Now.
Speaker 1: Is all six trillion going to jump into the crypto
Speaker 1: and stock market overnight? Of course not this thing will
Speaker 1: happen over time, but that's a whole lot of capital.
Speaker 1: People are going to start pulling out to say, you
Speaker 1: know what, I'm going to go back into risk assets
Speaker 1: because it's going to help me to get a reasonable return.
Speaker 1: As rates are dropping. And of course the DXY the
Speaker 1: dollar currency in next I expect that to start breaking
Speaker 1: downwards and we need to go below one hundred where
Speaker 1: it's going to be full risk on, folks. So a
Speaker 1: lot of macro factors here at play that will impact
Speaker 1: the stock market in the crypto market. So it's one
Speaker 1: thing to look at charts. That's okay, you know, we
Speaker 1: want to look at the charts. That's going to tell
Speaker 1: us give us an idea where we may be headed.
Speaker 1: But we got to look at the macro and what's
Speaker 1: happening around us that will influence markets. Where is the
Speaker 1: liquidity coming from. If there's no liquidity, then the charts
Speaker 1: don't they're not going to work right. Needs to be liquidity.
Speaker 1: So that's why we have to look at the money supply,
Speaker 1: We have to look at money market funds on what's
Speaker 1: going to happen here. So this is a very significant week, folks,
Speaker 1: and we've got to report here that on Friday, US
Speaker 1: bitcoin spot ETFs log the highest daily inflows in nearly
Speaker 1: two months as Bitcoin challenges sixty thousand dollars. So once again,
Speaker 1: this data came in on Friday and it had the
Speaker 1: highest single day inflow since July twenty twenty two. Despite
Speaker 1: the industry leader of black Rocks I bit logging no
Speaker 1: significant inflows or outflows. What's fascinating is that black Rock
Speaker 1: has been pretty neutral here. It hasn't been swaying one
Speaker 1: way or the other. They haven't been getting a ton
Speaker 1: of inflows, but they haven't been getting much outflows. That's good.
Speaker 1: Apparently the Blackrock advisors may be telling folks just hold hoddle,
Speaker 1: don't do anything right, and that's smart. Now, the other
Speaker 1: ETFs in the market so inflows. I saw the folks
Speaker 1: at Bitwise Asset Management they were tweeting a bit about it.
Speaker 1: They often tweet about, you know, the days when they
Speaker 1: have millions of dollars coming in. So this is a
Speaker 1: good sign that these ETFs for the most part, are
Speaker 1: holding steady. Of course, you're going to have outflows. That's
Speaker 1: normal because there's a lot of advisors in rias now
Speaker 1: in the market and they're gonna have clients that say, hey,
Speaker 1: I want to jump out and they're gonna have to
Speaker 1: adjust it, right, This is normal in et aps versus
Speaker 1: let's say, most crypto people who are seasoned are not
Speaker 1: going to jump in and out because of the price
Speaker 1: of fluctuations. Now they're new, right, they're newbies and rookies.
Speaker 1: Of course we've seen that, but this is where you
Speaker 1: have to learn the market cycles, not to invest with
Speaker 1: your emotions. But this is a good sign that inflows
Speaker 1: are on the rise again and there haven't been significant
Speaker 1: outflows now. A great place where you can buy bitcoin
Speaker 1: and all coins is with Gemini. This is a crypto
Speaker 1: platform I've been using for years. Gemini has tons of
Speaker 1: features on their website, folks, incredible products. They have a
Speaker 1: fully loaded exchange with an app, and much more. They
Speaker 1: have crypto staking, they have a credit card, they have
Speaker 1: a stable coin, Gemini Dollar. They also have a derivatives
Speaker 1: platform where you can trade bitcoin in all coins. It's
Speaker 1: pretty great. And if you sign up with my link, folks,
Speaker 1: and you trade one hundred dollars in bitcoin, you can
Speaker 1: get fifteen dollars in bitcoin. So link will be in
Speaker 1: the description. Check out Gemini. They are fully ensured, they
Speaker 1: are secure, and they are like Soft two, Compliant and
Speaker 1: so forth. They have top tier security and services, so
Speaker 1: check them out link wi being the description. Now, folks,
Speaker 1: we've got interesting news coming out about Ripples XRP Ledger.
Speaker 1: Apparently bitstamp is going to be launching a new derivatives
Speaker 1: exchange and they're going to be leveraging the XRP ledger.
Speaker 1: And remember bitstamp is now owned by Robinhood. Robinhood purchased
Speaker 1: them for like two hundred million dollars or something earlier
Speaker 1: this year. In fact, I interviewed Robin Hood's head of
Speaker 1: crypto and I'll be publishing that interview tomorrow morning. I
Speaker 1: interviewed him last week. So Robinhood is on a mission
Speaker 1: to grow their crypto footprint globally and once again they
Speaker 1: acquired bitstamp. And I'll played a clip for you that's
Speaker 1: been circulating and it's actually Ripples YouTube channel that they
Speaker 1: published and it was just from a couple of days ago.
Speaker 1: Here you go.
Speaker 2: We are launching our own derivatis exchange in the next
Speaker 2: few months. So that's something we are most excited about
Speaker 2: and really hope to cooperate closely with Greetball there as well.
Speaker 2: In the final stage of integration of really some top
Speaker 2: thirty commercial banks globally on bitstam as a service. So
Speaker 2: these commercial banks will offer cryptotr bit episode. That's definitely
Speaker 2: something we are very proud of.
Speaker 1: So not as she said that thirty commercial banks will
Speaker 1: be offering crypto through bitstamp and they're going to be
Speaker 1: leveraging ripples XRP ledgers. So very interesting. And if you
Speaker 1: want to catch my interview with Robin Hood's head of
Speaker 1: crypto that will be published in the morning, be sure
Speaker 1: you're subscribed with the notification bell enabled. All right, some
Speaker 1: other news. Bitforms accelerates two point two EXA hashes hosting
Speaker 1: agreement with Strongholds. So watch the bitcoin minus folks, because
Speaker 1: we want to see the bitcoin hash rate go up.
Speaker 1: We want to see the miners up and running after
Speaker 1: the having a lot of them sold. It's been a
Speaker 1: bit rough for them right now, but it's all cyclical,
Speaker 1: so eventually they're going to start ramping up again. So
Speaker 1: according to Bitfarms, the mining hardware was originally scheduled to
Speaker 1: be deployed in Hugh Gaza, Paraguay, sometime in December twenty
Speaker 1: twenty four. So the agreement will add ten thousand bitmin
Speaker 1: t twenty one miners to Bitfarms Panther Creek facility in
Speaker 1: Pennsylvania and commence on October first, twenty twenty four. Ben Gagnon,
Speaker 1: CEO of Bitforms, touched on the expansive potential of the
Speaker 1: company's sites in Pennsylvania and said the sites would be
Speaker 1: key to diversifying the company's business operations. So once again,
Speaker 1: keep an eye on the bitcoin miners. There's a lot
Speaker 1: of expansion that's happening. USDC Issuer's Circle announces HQ move
Speaker 1: to New York ahead of IPO, So Circle is looking
Speaker 1: to IPO. And I saw some of the photos being
Speaker 1: posted by different folks who attended Circle's office launch here
Speaker 1: in New York City, so we could see some big
Speaker 1: IPOs come next here folks in the crypto industry. As
Speaker 1: once again, what did we start the podcast with? The
Speaker 1: change in the macro easy money cycle, raycuts, more liquidity,
Speaker 1: money printing happening right, So this is where you're going
Speaker 1: to start to see companies do more IPOs because there's
Speaker 1: going to be more liquidity in the market. People are
Speaker 1: going to be able to access capital easier. See that
Speaker 1: the cycles here playing out folks, I said it before.
Speaker 1: We're headed into the next boom cycle. We came out
Speaker 1: of that bus cycle of twenty twenty two. It was
Speaker 1: a rough twenty twenty three, even though market's rallied, but
Speaker 1: it was still rates were high, quantitative tightening and so forth.
Speaker 1: Now we're across the other side of the bridge, Ray, folks.
Speaker 1: So we're headed to that easy money cycle. So exciting
Speaker 1: times ahead. That doesn't mean that market volatility won't be there.
Speaker 1: That doesn't mean corrections won't happen. That doesn't mean micro
Speaker 1: crashes in the market won't happen, just like we saw
Speaker 1: at the beginning of August with the Japanese en trade.
Speaker 1: So please don't get me wrong, right, you've got to
Speaker 1: be prepared for all these things. Now, speaking of stable coins,
Speaker 1: Tether Onboard's head of government Affairs from PayPal, Jesse Spiro,
Speaker 1: said he intended to work with industry leaders and lawmakers
Speaker 1: to help grow the ecosystem in his role at Tether.
Speaker 1: So this is a big pickup by Tether, and you're
Speaker 1: going to see everybody try to poach each other's talent, right,
Speaker 1: circle is going to try to go after PayPal and
Speaker 1: Tether and Vice versa. So this is all signs of
Speaker 1: a booming asset class and industry. Right. Everybody wants to
Speaker 1: get the top talent to keep growing because they're trying
Speaker 1: to grab market share and grow their business of course.
Speaker 1: So in a September thirteenth notice, Tether said Spiro would
Speaker 1: be responsible for leading policy and engagement efforts with lawmakers, regulators,
Speaker 1: and key stakeholders. In his role at the company, he
Speaker 1: was the leader of regulatory relations for PayPal's blockchain and
Speaker 1: crypto business from twenty twenty one to twenty twenty four,
Speaker 1: and worked at Chainell's for more than two years enroll
Speaker 1: of concerning policy and government affairs. So big pickup here
Speaker 1: by Tether. So that's the news, folks. Let me know
Speaker 1: what you think. Leave your thoughts and comments below, hit
Speaker 1: the thumbs up button and don't forget to sign her
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Speaker 1: appreciate you all and I'll talk to you all later.
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