Speaker 1: Bitcoin hits ninety seven thousand dollars. What is the next target?
Speaker 1: I want to share that with you and what is
Speaker 1: the local top target for Q two? As this will
Speaker 1: help drive all coins into another bull rally and a
Speaker 1: US Senator is ready to vote on the stable coin bill.
Speaker 1: This is huge news and the SEC has dropped its
Speaker 1: case against PayPal for its stable coin py USD. I'll
Speaker 1: give you all the details. Let's get into it. Hey, everybody,
Speaker 1: welcome into the Thinking Crypto podcast. You're home for cryptocurrency
Speaker 1: news and interviews. I'm your host, Tony Edward. On your
Speaker 1: way in, Please sit that subscribe button as well as
Speaker 1: the thumbs up button and leave a comment below. If
Speaker 1: you're listening on a podcast platform such as Spotify or Apple,
Speaker 1: please leave a five star rating and review. Folks, we
Speaker 1: have to talk about the price of bitcoin because, as
Speaker 1: you all know, bitcoin leads the market and the all
Speaker 1: coins follow. And as we've been discussing over the past
Speaker 1: month or so, Bitcoin has broken out from its bottom.
Speaker 1: It has cleared the two hundred day moving average and
Speaker 1: it's building support levels. It's looking very strong here. The
Speaker 1: daily RSI still has some room to run. It is
Speaker 1: approaching the over soul zone. So of course expect pullbacks.
Speaker 1: As always, nothing goes up in a straight line. But
Speaker 1: this looks very good and Bitcoin touch ninety seven thousand dollars.
Speaker 1: At the time of recording, it is at ninety six,
Speaker 1: nine hundred and six dollars. And when we look at
Speaker 1: the weekly chart we get more bullish confirmation. So in
Speaker 1: the weekly chart we see a breakout of the weekly
Speaker 1: RSI and the mac D is about to flip bullish
Speaker 1: where the bears have been losing momentum, the red candles
Speaker 1: have been getting lighter and smaller, and what we see
Speaker 1: in historically that then flips to green candles and you
Speaker 1: see a very strong rally. So this setup is looking
Speaker 1: really good. So what is our next target, because remember
Speaker 1: we're not going to go up in a straight line.
Speaker 1: There will be pullbacks, and different analysts are highlighting that
Speaker 1: the next target is out one hundred and six thousand dollars.
Speaker 1: So the first target was ninety six thousand dollars. We
Speaker 1: clearly broke that. We touched ninety seven, so we're gonna
Speaker 1: move up to one hundred and six thousand, and then
Speaker 1: for a local top, which you know this big rally
Speaker 1: that's gonna take place, I believe in this month into June.
Speaker 1: That could take us to about one hundred and thirty thousand,
Speaker 1: So maybe between one hundred and twenty five to one
Speaker 1: hundred and thirty. Maybe it overshoots it a bit. We'll
Speaker 1: have to wait and see. But we'll have to see
Speaker 1: how the timeline plays out here because typically you see
Speaker 1: selling may go away. That may not happen this time
Speaker 1: around because we have this big, massive correction due to
Speaker 1: the tariffs, a lot of fear in the markets, the
Speaker 1: stock market, crypto, everything's sold off. So could we see
Speaker 1: this timeline push forward a bit. It's possible, so just
Speaker 1: be prepared for any scenario. Personally, I have my cash
Speaker 1: out plan with my price target, So as soon as
Speaker 1: bigcoin hits one hundred and twenty k, profit taking is
Speaker 1: going to commends one hundred and thirty k again, profit
Speaker 1: taking is gonna commence, and so on and so forth.
Speaker 1: And I'm doing this for all coins. So as you
Speaker 1: all know, as Bitcoin has its rally, the liquidity will
Speaker 1: start flowing to eth XRP, Soalana, and they're gonna start
Speaker 1: pumping again, just like we saw in Q four of
Speaker 1: last year. Same thing's gonna happen. We have not seen
Speaker 1: a deviation from this, even though people like to say,
Speaker 1: oh this all coin data coin, No Bitcoin leads the market.
Speaker 1: And this is not about feelings or emotions or bias.
Speaker 1: It's about the data. What has it shown us, and
Speaker 1: that is Bitcoin leads the market and the liquidity starts
Speaker 1: to be rotated down to the all coins. So expect
Speaker 1: that this month, going to June, we're gonna see some
Speaker 1: very positive things. Now, is this guaranteed? Is this a certainty?
Speaker 1: Of course not. No one has a crystal ball, But
Speaker 1: based on what we're seeing on the charts, based on
Speaker 1: the data, we are seeing a setup here for another
Speaker 1: big rally. Could there be another black swan event that
Speaker 1: stops all this, of course, but I think the higher
Speaker 1: probability is that we see the bull rally because we
Speaker 1: kind of had a pseudo black swan with the tariff news.
Speaker 1: All markets corrected significantly. So I think that was your
Speaker 1: significant correction here and that the market's now there's only
Speaker 1: one direction for them to go, and that is up,
Speaker 1: because they've bottomed out. And you see the stock market
Speaker 1: is also moving up, and that's a very good sign.
Speaker 1: So the S and P five hundred, the NASDAC, the
Speaker 1: Dow Jones all seeing a recovery here. This is very
Speaker 1: very good. So let's be patient and watch this play out. Now, folks,
Speaker 1: we have some very big news coming out of this
Speaker 1: Senate and that is the US Senate moves towards action
Speaker 1: on stable coin bill. So many of you know Senator
Speaker 1: Haggerty Bill Haggerty, he introduced the Genius Act in the Senate.
Speaker 1: It's a version of what was introduced in the House,
Speaker 1: which is the Stable Act. And of course both the
Speaker 1: House and the Senate have to pass a version. The
Speaker 1: Senate's version, of course, is what's going to make it
Speaker 1: to the President for signatures. So this is a process
Speaker 1: to but the ball is rolling here, guys. And if
Speaker 1: you caught my interview with Congressman Tom Emmer this week,
Speaker 1: he talked a bit about what's going to come up
Speaker 1: next and much more. So let me give you the
Speaker 1: details here, and who's the senator that is doing this.
Speaker 1: So Senate Majority Leader John Toon, a South Dakota Republican,
Speaker 1: started the ball rolling to fast track the guiding and
Speaker 1: establishing national innovation for US stable coins. The Genius Act,
Speaker 1: which is the Senate's version of two similar bills rolling
Speaker 1: through both chambers of Congress. The House of Representatives is
Speaker 1: expected to follow closely behind on its own voting tunes
Speaker 1: moved to expedite the bill is meant to limit delays
Speaker 1: and floor action in order to get it done more quickly.
Speaker 1: It's so far unclear precisely when the Senate vote will happen,
Speaker 1: but an earlier vote on the efforts in the Senate
Speaker 1: Banking Committee had approved it with a wide bipartisan majority
Speaker 1: of eighteen to six. The House Financial Services Committee also
Speaker 1: advanced a similar bill in April. Here's a quote, I
Speaker 1: look forward to passing the Genius Act in short order
Speaker 1: to keep digital asset innovation in America, protect consumers, and
Speaker 1: make sure foreign companies are playing by the same rules
Speaker 1: that Senator Bill Haggerty, the Tennessee Republican who authored the bill,
Speaker 1: in a statement. It's also backed by Senator Tim Scott,
Speaker 1: the chairman of the Senate Banking Committee. So, folks, we
Speaker 1: know President Trump gave the mandate that Congress needs to
Speaker 1: get both the stable coin and Market Structure bill to
Speaker 1: his desk before the August recess because he wants to
Speaker 1: sign this. And we see the balls rolling here folks,
Speaker 1: so Q we're in Q two, so they got to
Speaker 1: get this going. They've got I think up until July
Speaker 1: maybe to get this done. And I would think early
Speaker 1: July because as we get into the summer things become
Speaker 1: harder to get done. But this is very bullish. If
Speaker 1: we get stable coin legislation passed, the stable coin market's
Speaker 1: going to boom. I think we can hit a trillion
Speaker 1: dollars by the end of this year, honestly, if they
Speaker 1: get it passed soon enough. Because we saw different bank
Speaker 1: CEOs like Bank of America CEOs that they are ready
Speaker 1: to launch a stable coin once Congress plasses legislation, and
Speaker 1: you can imagine the existing stable coin issues are going
Speaker 1: to go ham. They're going to ramp up significantly because
Speaker 1: everybody's in a competition now. But once the rules are clear,
Speaker 1: they're going to be able to innovate without any type
Speaker 1: of red tape and nonsense, you know, kind of what
Speaker 1: we experience on the Gary Ginser and Elizabeth Warren over
Speaker 1: the past four years. So this is huge, very very bullish.
Speaker 1: And speaking of stable coins, the sec ditches paypalse PYUSD
Speaker 1: probe removing key regulatory hurdle for its stable coin. Many
Speaker 1: of you know PayPal, the payment giant. They launched their
Speaker 1: own stable coin p yust. They issued it on the
Speaker 1: Ethereum blockchain, and they've been trying to make inroads in
Speaker 1: different industries with their stable coin. But of course under
Speaker 1: Gary Ginster they were attacked in the sense that they
Speaker 1: were getting investigated. But this is getting dropped, as with
Speaker 1: other enforcement actions and lawsuits the SEC has been dropping,
Speaker 1: so really really big stuff here. And PayPal obviously a
Speaker 1: huge company, and just this week I reported to you
Speaker 1: guys that their competitors, so to speak, like MasterCard and
Speaker 1: Visa are also integrating stable coins and expanding as well.
Speaker 1: So competition's heating up and this is really great. So
Speaker 1: here's a quote. In November twenty twenty three, we received
Speaker 1: a subpoena from the us SEC Division of Enforcement relating
Speaker 1: to PayPal's US the stable coin. The subpoena requested the
Speaker 1: production of documents. In February twenty twenty five, the SEC
Speaker 1: communicated it was closing this inquiry without enforcement action. PayPal
Speaker 1: disclosed this week in a filing. Great news here, and
Speaker 1: you know the folks at PayPal are going to go
Speaker 1: crazy and start innovating and expanding, and huge partnerships are
Speaker 1: going to probably be coming down the line. We're going
Speaker 1: to hear some big news. So just great news all around, folks.
Speaker 1: I think this is all going to set us up
Speaker 1: for to move to new full time highs this year
Speaker 1: and a blow off top honestly, because the runway is
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Speaker 1: look at this news. This is really interesting and just
Speaker 1: a sign of the times. US congressman pitches crypto ATMs
Speaker 1: and federal government buildings. Texas Republican Lance Goodin suggested that
Speaker 1: the agency that runs off of space that installing ATMs
Speaker 1: will help align the government with Trump's crypto push. That
Speaker 1: is a bit of optics here, you know, some grand standing,
Speaker 1: so to speak, but it also just shows the environment
Speaker 1: is so different from what it was under Biden. Right,
Speaker 1: they were attacking crypto from every angle, and now the
Speaker 1: government is embracing crypto and they're looking to build with
Speaker 1: blockchain and much more. So, this is really really interesting.
Speaker 1: Take it for what it is. I don't think this
Speaker 1: will necessarily happen right to put something like this in
Speaker 1: government buildings, But I think it's not so much the
Speaker 1: idea as it is the sentiment and how that has changed. Now.
Speaker 1: President Trump's were Liberty Financial. Their stable coin which they
Speaker 1: issued called US the One, will be used to close
Speaker 1: mgx's two billion dollar finance investment. This is according to
Speaker 1: Eric Trump. So many of you know, I've been talking
Speaker 1: a lot about Trump and crypto, and the only thing
Speaker 1: I don't agree with is the meme coin. But you know,
Speaker 1: his kids getting involved in building these businesses. I don't
Speaker 1: have a problem with that. Honestly, they're free to do that.
Speaker 1: So this is interesting that they're doing this. So US
Speaker 1: the One will integrate with the tront ecosystem supported by
Speaker 1: billionaire Justin Sun. We're Liberty Financial aims to make US
Speaker 1: the One one of the most transparent and regulated stable
Speaker 1: coins backed by short term treasury and cash equivalents. So
Speaker 1: very very interesting move here, And if you're read between
Speaker 1: the lines here, regardless of if you love or hate Trump,
Speaker 1: because there's people on both sides right, I'm more neutral.
Speaker 1: I don't worship any politicians or support politicians like that. Obviously,
Speaker 1: I vote, obviously I care about certain issues and things
Speaker 1: like that in politics. But if you just step back
Speaker 1: and look at this from a neutral standpoint, Eric Trump
Speaker 1: and the Trump family would not be investing in this
Speaker 1: stuff or building with it if they didn't know what
Speaker 1: was coming. I think they know. I think they see
Speaker 1: and they're taking a bet because they realize this is
Speaker 1: the future. So I hope you recognize this. Don't get
Speaker 1: blinded by politics now, but just look at it on
Speaker 1: its face as far as adoption, that these people are
Speaker 1: taking the time to do this. They're not just supporting
Speaker 1: it and helping to get the legislation through, they're building
Speaker 1: with it. And that should tell you what's coming, right,
Speaker 1: Because you know, Trump and his family are all about
Speaker 1: making money, and I'm not saying anything wrong with that,
Speaker 1: but clearly, clearly they see opportunity here. I hope you
Speaker 1: do as well if you're still on the fence. Now,
Speaker 1: moving ahead, everything is encrypted as Tech's privacy roll up
Speaker 1: hits tested amid growing demand. So Astech's roll up is
Speaker 1: a layer two on E theorem, and this has been
Speaker 1: a solution that has been eight years in development. So
Speaker 1: institutions obviously are looking for more privacy when they use
Speaker 1: public blockchains because they've learned that when they use private blockchains,
Speaker 1: it doesn't work. It's not the same they try to
Speaker 1: do it jp Morgan Quorum blockchain jpm coin. Nobody trusts that, right,
Speaker 1: But if you put it on a public blockchain that
Speaker 1: is decentralized and it's more transparent, you can get a
Speaker 1: lot more adoption. But there are certain data, you know,
Speaker 1: customer data, proprietary data that you don't want everybody in
Speaker 1: the world to see. Obviously, if you're a bank or
Speaker 1: certain type of financial institution, you want to have some
Speaker 1: sort of privacy. So Aztec, a Layer two roll up
Speaker 1: focused on privacy, share Thursday that its test net has
Speaker 1: finally gone live. The announcement comes as a wave of
Speaker 1: new privacy focused solutions begin to capture interest from large
Speaker 1: institutions who need confidentiality with large transaction batches. The team
Speaker 1: behind Aztec said they have been working on its solution
Speaker 1: for over eight years, bringing the cutting edge technology one
Speaker 1: step closer to maynet. So this could be another big
Speaker 1: narrative for Ethereum, which has been really suffering this cycle
Speaker 1: and underperforming. But the combination of these type of updates
Speaker 1: and upgrades on the Ethereum Layer one plus staking to
Speaker 1: the ETFs could help ETH rally and catch up this bullmarket.
Speaker 1: I honestly think these items can play a big factor
Speaker 1: in helping ETHER to rally. So. Layer two networks have
Speaker 1: appeared in mass in the ethereum space over the past
Speaker 1: few years and are seen as a faster and cheaper
Speaker 1: alternative to transacting on the Ethereum protocol. But ASTEC will
Speaker 1: have have to give up elements of that in order
Speaker 1: to preserve its mission of being privacy preserving as well
Speaker 1: as decentralized. So it's not going to be as decentralized
Speaker 1: as somebody's other layer twos, and it's not going to
Speaker 1: have the same speed, but it's not going to be
Speaker 1: as slow, I think as the Layer one of ethereum.
Speaker 1: But institutions, you know, they want privacy and they're going
Speaker 1: to want security, and sometimes the fastest is not always
Speaker 1: the most secure and the most trusted. Look at Solana
Speaker 1: and it's speed that it has, I mean, it blows
Speaker 1: the theoum out of the water, but it has a
Speaker 1: lot of downtime. So you know, look, we're still early.
Speaker 1: There's going to be iterations for many of these blockchains,
Speaker 1: and we'll see who the winners are. But they're going
Speaker 1: to continue to fine tune and build version twos and
Speaker 1: threes of their blockchains, which will be better, and you know,
Speaker 1: hopefully they're able to fix the bugs and the issues.
Speaker 1: But I think the fact that they're building for institutions
Speaker 1: is incredibly bullish. I mean it's amazing. And Aztec they
Speaker 1: had race is the one hundred million dollars in a
Speaker 1: series B in twenty twenty two, led by A sixteen
Speaker 1: Z s Or Andrews and Howartz, So incredible stuff here, guys,
Speaker 1: very bullish. Free Etherorem and the adoption, because look, Etherorem,
Speaker 1: despite its challenges, it is getting a lot of adoption.
Speaker 1: I just talked about earlier paypals, stable Coin was launched
Speaker 1: on ethereum, black rocks tokenized one on Etheroreum, and much more. So.
Speaker 1: This is why I hole Ethan my portfolio and I'm
Speaker 1: bullish on it long term. Now, folks, Mike novagrats Is
Speaker 1: Galaxy Digital will be listed on the NASTAC on May sixteenth.
Speaker 1: So I had told you guys that they are looking
Speaker 1: to go public and it looks like they're going to
Speaker 1: be doing it this month. So we are seeing more
Speaker 1: and more crypto companies are going public. And Galaxy is
Speaker 1: actually public in Canada, I believe, on the Toronto Stock Exchange,
Speaker 1: but going live on the New York Stock Exchange is
Speaker 1: a big moment. Because of what we've been facing in
Speaker 1: the crypto industry over the past four years, things are
Speaker 1: really opening up now and Galaxy Digital is a very
Speaker 1: large crypto investment firm, so this is this is really big,
Speaker 1: all right. Moving ahead Michael Sailor's strategy there, you are
Speaker 1: looking to raise eighty four billion dollars to purchase more bitcoin.
Speaker 1: This is wild, guys. I don't have a problem with
Speaker 1: sailor or strategy. I've said that many times. I wish
Speaker 1: them the very best, and I've often said I hope
Speaker 1: nothing bad happens. But the amount of leverage concerns me.
Speaker 1: How how far would they take this? How much debt
Speaker 1: are they going to raise? You know, we've seen bitcoin enters,
Speaker 1: bear markets and much more. You never know what could happen.
Speaker 1: And even look at this because of the tariff pullback strategy. Uh,
Speaker 1: they actually posted a Q one loss on the bitcoin
Speaker 1: price decline, so you see, if it just takes, you know,
Speaker 1: a significant crash to put them in trouble. I'm not
Speaker 1: saying I want them to be in trouble, and I
Speaker 1: hope everything works out, but the amount of leverage worries me.
Speaker 1: Man and I hope it pays off. Look, because the
Speaker 1: United States is looking to establish a strategic bitcoin reserve
Speaker 1: black Rock, and all the Wall Street firms are buying.
Speaker 1: You got governments around the world that are mining and
Speaker 1: buying as well. So maybe it'll work out and you
Speaker 1: know it won't be an issue. But the leverage really
Speaker 1: really concerns me. As a student of history and financial history,
Speaker 1: We've seen it. You build up these tranches of debt
Speaker 1: and leverage and you never know what could happen, and
Speaker 1: it could cause them major collapse. But anyway, this is
Speaker 1: why I'm taking profits so that if anything does happen,
Speaker 1: I'm okay. I walk away from the bullmarket with money
Speaker 1: in my pocket, I should say. So hopefully everything goes okay,
Speaker 1: and let's see how far a sailor is going to
Speaker 1: take this. Is this something that could go on forever?
Speaker 1: I don't think so, but we'll have to wait and see.
Speaker 1: Time will tell. Folks, that's the news. Let me know
Speaker 1: what you think. Leave your thoughts and comments below hit
Speaker 1: the thumbs up button. A great way you can support
Speaker 1: me in the podcast is by subscribing to my free
Speaker 1: email newsletter on substack. I actually put out a newsletter today,
Speaker 1: so be sure to check that out. Also check out
Speaker 1: my book on Amazon, It's available in paperback, in digital,
Speaker 1: and my new course at mycryptocurse dot com. Folks. This
Speaker 1: is a comprehensive course that covers every aspect of crypto.
Speaker 1: Best of all, it features expert commentary. No other course
Speaker 1: out there offers this, so expand your knowledge. Knowledge is power.
Speaker 1: You're going to hear from experts, founders, CEOs, innovators, institutional investors,
Speaker 1: and much more so. It includes videos, text write ups,
Speaker 1: downloadable materials, and much more so. If you'd like to
Speaker 1: learn more, go to mycryptocourse dot com. Folks, thank you
Speaker 1: for watching and listening. I appreciate you all, and I'll
Speaker 1: talk to you all later. Eighty two posts