WEBVTT

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<v Speaker 1>Bitcoin explodes as it hits seventy three thousand dollars. What's

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<v Speaker 1>going to happen next and what does this mean for

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<v Speaker 1>all coins? And Solana has launched a stable coin and coinbasis.

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<v Speaker 1>CEO Brian Armstrong says the next SEC chair should drop

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<v Speaker 1>all the nonsense lawsuits against the crypto industry. I'll share

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<v Speaker 1>all the details. Let's get into it. Hey, everybody, welcome

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<v Speaker 1>into the Thinking Crypto podcast. You're home for cryptocurrency news

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<v Speaker 1>and interviews. I'm your host, Tony Edward. On your way in,

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<v Speaker 1>Please hit that subscribe button as well as the thumbs

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<v Speaker 1>up button and leave a comment below. If you're listening

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<v Speaker 1>on a podcast platform such as Spotify or Apple, please

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<v Speaker 1>leave a five star rating and review. Folks, we got

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<v Speaker 1>to start by talking about bitcoin. Look at this beautiful chart,

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<v Speaker 1>Bitcoin hitting seventy three thousand dollars today, Folks, Look at

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<v Speaker 1>these green candles on the daily chart looking very bullish.

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<v Speaker 1>And the setup we've been talking about for weeks now,

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<v Speaker 1>where we've been seeing higher highs and higher lows, has

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<v Speaker 1>played out beautifully and Bitcoin is on the move upwards. Guys,

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<v Speaker 1>looks very good. If you zoom out on the chart,

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<v Speaker 1>it just looks really good here. And of course we're

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<v Speaker 1>watching bitcoin closely to see if it breaks through the

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<v Speaker 1>all time high it hit earlier this year of around

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<v Speaker 1>seventy three five hundred dollars and once it breaks through that, guys,

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<v Speaker 1>it's going to enter into price discovery. It's going to

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<v Speaker 1>be an amazing time. Now. A couple of things we

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<v Speaker 1>do want to watch is that the election is around

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<v Speaker 1>the corner. They could be a buyer rumor sell the

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<v Speaker 1>news event. Bitcoin may pump this week to maybe eighty

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<v Speaker 1>k and then correct next week, but that wouldn't be

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<v Speaker 1>a big deal. I'm just letting you guys know that

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<v Speaker 1>there's different things happening in the market where people are

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<v Speaker 1>hyping up. Okay, Trump may win, and that's good for crypto.

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<v Speaker 1>I think the markets are pumping regardless of who the

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<v Speaker 1>president is. But that's a narrative that's out there, and

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<v Speaker 1>I'm following the data, the metrics, and so forth. I'm

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<v Speaker 1>not trying to follow narratives because narratives can be put

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<v Speaker 1>out by anybody. That's what mainstream media does, right. And

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<v Speaker 1>don't get me wrong, I believe Trump would be great

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<v Speaker 1>for crypto businesses in the United States and getting legislation passed,

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<v Speaker 1>but the price action, as I stated in yesterday's podcast,

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<v Speaker 1>this is due to global liquidity continued, the basement a

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<v Speaker 1>currency and so on and so forth. So, guys, very

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<v Speaker 1>very bullish. I like what I'm seeing here. I think

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<v Speaker 1>we're seeing confirmation of the escape from this boring as

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<v Speaker 1>hell zone that we've been dealing with for the past

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<v Speaker 1>six months. So really really good. And when you zoom

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<v Speaker 1>out on the log chart, it just looks even more beautiful.

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<v Speaker 1>You just see the escape happening here. Now it's going

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<v Speaker 1>to be a process, right. This thing doesn't go up

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<v Speaker 1>in a straight line. We all know how the market

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<v Speaker 1>cycles play out. It breaks through resistance, pulls back, build

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<v Speaker 1>support levels, continues to move up and break resistance and

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<v Speaker 1>so forth. So it's going to stare step its way out,

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<v Speaker 1>as I've been telling you, guys. But man, I am bullish, guys,

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<v Speaker 1>I am bullish. And of course the seasonality aligns with this.

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<v Speaker 1>The election is about a week away, where the uncertainty

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<v Speaker 1>will be removed and marks can keep moving, people can

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<v Speaker 1>focus on other things like the market versus the politics

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<v Speaker 1>and the election and all these things. So things are

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<v Speaker 1>setting up very beautifully here and one of the things

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<v Speaker 1>I want to highlight, guys, is that the stable coin

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<v Speaker 1>supply continues to increase. Just today, over one billion in

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<v Speaker 1>stable coins was minted. Tether minted one billion USDT for USDC,

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<v Speaker 1>you had over one hundred and fifty million minted. So

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<v Speaker 1>where's that liquidity going to go into the crypto market.

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<v Speaker 1>These are the things I've shared with you over the

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<v Speaker 1>past year, trying to paint the picture of where we're

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<v Speaker 1>at in the market cycle, and that whales are accumulating

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<v Speaker 1>and big institutional investers are here and don't be dismayed

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<v Speaker 1>by market volatilities. So we are seeing further proof of

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<v Speaker 1>continuation of the bullmarket. Guys. Here's what legendary trader Peter Brandt,

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<v Speaker 1>who I've had on the podcast, had to say about

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<v Speaker 1>bitcoins move. He said, there are numerous ways to determine targets.

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<v Speaker 1>One variable is whether semi log or linear scale is used.

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<v Speaker 1>Target of ninety four thousand dollars is measured move of

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<v Speaker 1>triangle projected from the breakout level on the semi log.

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<v Speaker 1>A swing target can also be determined by projecting the

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<v Speaker 1>November twenty twenty two low to March twenty twenty four

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<v Speaker 1>high upwards from August twenty twenty four low, as shown

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<v Speaker 1>also on a log scale. For now, I think this

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<v Speaker 1>is a stretch. My rule is one target at a time.

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<v Speaker 1>So I think many different traders and analysts are recognizing

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<v Speaker 1>what is happening here and this is what we've been

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<v Speaker 1>waiting for. And once again, it's not going to happen overnight.

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<v Speaker 1>Now Bitcoin could surprise us and say, you know what,

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<v Speaker 1>eighty K by Thursday or Friday, right, who knows, But

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<v Speaker 1>we'll have to wait and see. But I like to

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<v Speaker 1>play it conservatively and not get too crazy with price

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<v Speaker 1>predictions and so forth. One thing's for sure, I know

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<v Speaker 1>which direction we're heading. That is up, and the Bears

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<v Speaker 1>are in trouble, folks. Here's what Dan from three to

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<v Speaker 1>sixty Trader had to say. I had him on the

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<v Speaker 1>podcast a couple months back. He said, Bitcoin all time

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<v Speaker 1>high test coming and the last of higher external liquidity.

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<v Speaker 1>Bear is wanting another sweep of the lows. Forgot they

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<v Speaker 1>already had three over the past two hundred and twenty days.

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<v Speaker 1>Bulls had none. Expecting another sweep of the lows is

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<v Speaker 1>just greedy. So bears are trying to call for forty thousand, right,

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<v Speaker 1>but Bitcoin is saying no, not at this point. Now.

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<v Speaker 1>As always, we're talking probabilities here, and the bullish scenario

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<v Speaker 1>I believe has the higher probability of playing out. But

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<v Speaker 1>we can't say nothing bearish will not happen because you

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<v Speaker 1>could have black swan events, right. Those are things we

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<v Speaker 1>can't plan for or they're unforeseen. So if everything goes

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<v Speaker 1>according to the normal cycle movements and there's all black

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<v Speaker 1>swan events, I think this is a very bullish setup.

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<v Speaker 1>One thing I want to highlight is that we are

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<v Speaker 1>seeing some movement on the total market cap excluding bitcoin

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<v Speaker 1>an e theorem, and you see here there's a breakout

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<v Speaker 1>happening as well. So my hope is that this continues

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<v Speaker 1>following Bitcoin's move and guys, that liquidity starts to flow

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<v Speaker 1>to the all coins. I tweeted about it today, the

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<v Speaker 1>money flowing crypto Fiat to Bitcoin, Bitcoin makes it its move,

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<v Speaker 1>it gets overbought, the liquidity starts cycling down to the

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<v Speaker 1>different all coins, large cap, mid caps and small caps

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<v Speaker 1>and so forth, rinse and repeat. So just keep that

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<v Speaker 1>in mind. Some of you may be like, why is

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<v Speaker 1>my coin not pumping? Well, you have to understand what

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<v Speaker 1>phase we're at in the cycle, and this happens on

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<v Speaker 1>a micro and a macro level, and it happens in

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<v Speaker 1>phases as we head towards the blow off top. It

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<v Speaker 1>took me, Don't get me wrong, it took me years

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<v Speaker 1>to understand this. And by understanding this, I'm able to

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<v Speaker 1>make money. It really puts my emotions to the side.

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<v Speaker 1>I don't have to fear a panic and I can

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<v Speaker 1>just look at what's happening in the market and look

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<v Speaker 1>at bitcoin dominance and these type of things. So, guys,

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<v Speaker 1>this setup is beautiful here. I love what I am

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<v Speaker 1>seeing now quickly from our sponsor, and that is v chain,

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<v Speaker 1>which is one of the top layer one smart contract

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<v Speaker 1>enterprise blockchains. Guys. Fee chain works with many different companies

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<v Speaker 1>and brands around the world to build web technologies and

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<v Speaker 1>decentralized applications. Some of the great features of the v

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<v Speaker 1>chain blockchain include it is secure, affordable, scalable, fast, and sustainable.

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<v Speaker 1>Some of the companies working with v chain include Jivon, Chi, BMW, Walmart, China, PwC,

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<v Speaker 1>Boston Consulting Group, and many others. I'm a VET token holder.

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<v Speaker 1>I have been for years on bullish on this project.

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<v Speaker 1>So if you'd like to learn more about vchain, go

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<v Speaker 1>to vchain dot org. Link will be in the description. Now, guys,

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<v Speaker 1>we've got some very big news around Solana. They have

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<v Speaker 1>launch a stable coin. It seems everybody is launching a

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<v Speaker 1>stable coin these days, so they said, welcome SUSD, a

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<v Speaker 1>US Treasury build backed stable coin on Solana, built by

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<v Speaker 1>Solayer Labs. So this is really big for Slana and

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<v Speaker 1>it's a smart move. And we know Ripple is also

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<v Speaker 1>working on THEIRS and there should be launched soon as well.

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<v Speaker 1>So they said, s USD joins a growing ecosystem of

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<v Speaker 1>products issuing tokenized US treasuries on Slana, including Ondo Finance,

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<v Speaker 1>USDY and Maple Finance. So, guys, really big move here

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<v Speaker 1>for Solana, and we'll see what type of adoption to

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<v Speaker 1>stable coin gets. I'll try to get some money from

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<v Speaker 1>Solana or Maple on the podcast to talk about this.

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<v Speaker 1>But the competition's heating up, and look, competition is good

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<v Speaker 1>for consumers. And if you recall, just last week, I

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<v Speaker 1>wrote a newsletter and be sure to sign up for

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

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<v Speaker 1>I wrote a newsletter titled the one trillion dollars. Stable

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<v Speaker 1>coin market is coming, and I talked about you know,

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<v Speaker 1>the launches stable cooin legislation, Stripe acquiring Bridge for one

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<v Speaker 1>point one billion dollars and much more. And this news, well,

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<v Speaker 1>I think will help fast track this stable cooin market

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<v Speaker 1>to get to one billion dollars. So things are heating out, folks,

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<v Speaker 1>and let's see if legislation comes in by the end

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<v Speaker 1>of the year or early twenty twenty five. Now some

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<v Speaker 1>more Solana news. They have partnered with chain Links that

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<v Speaker 1>they said chain Link data streams are now available on Solana,

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<v Speaker 1>bringing low latency pull based data oracles to help power

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<v Speaker 1>to DeFi ecosystem. Now, I am a holder of chain Link.

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<v Speaker 1>I'm very bold on this project. It did well for

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<v Speaker 1>me in twenty twenty and I'm taking a bed on

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<v Speaker 1>it again and I bought the bear market bottom and

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<v Speaker 1>I'm hoping it can crack one hundred dollars this cycle.

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<v Speaker 1>You know, there's no guarantee, but this is why I diversify,

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<v Speaker 1>and I'm expecting big things because of the adoption and

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<v Speaker 1>how many people are plugged into chain Link and using

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<v Speaker 1>their oracles. And of course I have some Soul token

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<v Speaker 1>to my portfolio not a lot, but I noticed that

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<v Speaker 1>a lot of liquidity and VC liquidity was coming into Slona.

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<v Speaker 1>So I took a position in Solana around like eighteen

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<v Speaker 1>to twenty bucks and some more at a later time

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<v Speaker 1>around one hundred. And of course my portfolio is up

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<v Speaker 1>because Solona is up significantly. Now, guys, we've got some

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<v Speaker 1>very bold statements coming from coinbased CEO Brian Armstrong. He

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<v Speaker 1>tweeted out, the next SEC chair should withdraw all frivolous

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<v Speaker 1>cases and issue an apology to the American people. It

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<v Speaker 1>would not undo the damage done to the country, but

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<v Speaker 1>it would start the process of restoring trust in the

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<v Speaker 1>SEC as an institute. Big statements coming from the CEO

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<v Speaker 1>of a publicly traded crypto exchange, the largest in the

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<v Speaker 1>United States and a big campaign donator to the super

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<v Speaker 1>pack around crypto, right, So he's spot on, guys. The

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<v Speaker 1>next SEC chair has a lot of cleanup to do,

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<v Speaker 1>and we know for sure Donald Trump is going to

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<v Speaker 1>fire against her. However, we're not too sure about Khamala Harris.

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<v Speaker 1>Her campus said they want to do a reset and

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<v Speaker 1>they don't like what Ginster has been doing, but they

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<v Speaker 1>haven't put out clear policy and Brian highlighted here all

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<v Speaker 1>of the hipocrisy and lies and conflicting statements from the SEC.

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<v Speaker 1>They put it here in a table. You know what's

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<v Speaker 1>a digital acid security and much more. And we know

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<v Speaker 1>there's this ambiguity because we're dealing with a scumbag regulator

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<v Speaker 1>that is Gary Ginser. So I love that Brian is

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<v Speaker 1>doing this. Paul Griwall, chief legal officer at Coinbase, wadon

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<v Speaker 1>as well. He says, what does arbitrary mean? Look at

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<v Speaker 1>the chart? What does capricius mean? Look at the chart?

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<v Speaker 1>What is unfair? Notice? Look at the chart. I want

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<v Speaker 1>to see why a once proud driver of economic growth

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<v Speaker 1>and investor protection is now anything but you know what

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<v Speaker 1>to do. So I love that the crypto industry is

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<v Speaker 1>taking the gloves off and punching back against the bully.

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<v Speaker 1>Elizabeth Warren and Gary Genser are going to be left

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<v Speaker 1>on an island by themselves because their anti crypto army

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<v Speaker 1>buddies are dropping like flies in the elections. They're backing

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<v Speaker 1>out of anti crypto bills and much more so, we

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<v Speaker 1>are winning, folks and cryptos here to stay. And speaking

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<v Speaker 1>of the election, Eleanor Turt of Fox Business did some

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<v Speaker 1>great reporting here, she said, with just one week out

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<v Speaker 1>from the election, we're getting some new crypto election spending numbers.

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<v Speaker 1>According to recent FEC filings, the crypto industry has now

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<v Speaker 1>donated well over two hundred million dollars to various packs,

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<v Speaker 1>candidates and political organizations. More to come on this. Some

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<v Speaker 1>things she highlighted here is for Donald Trump, Howard Lutnick,

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<v Speaker 1>who's the CEO of Canter Fitzgerald. He donated around six

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<v Speaker 1>point four million dollars. The Gemini Exchange founders Tyler and

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<v Speaker 1>Cameron donated two point zero four million, Jesse Palo Kraken

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<v Speaker 1>eight hundred and forty four nine and forty three dollars,

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<v Speaker 1>and on and on. But what's interesting is that there

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<v Speaker 1>are some donations to Kamala Harris, like Chris Larson, a

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<v Speaker 1>ripple eleven point seven million dollars tech blockchain investor. It

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<v Speaker 1>looks like his name is a Venude Koolsha. I don't

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<v Speaker 1>know who that is, but he gave a million dollars.

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<v Speaker 1>Reid Hoffman, early coinbase investor, donated two hundred and fifty

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<v Speaker 1>thousand dollars. So clearly Trump got the majority the lion's

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<v Speaker 1>share of the money. Here and we know why, right,

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<v Speaker 1>But look, I think the fact that many Democrats in

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<v Speaker 1>Congress are pro crypto now is supporting the industry. And

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<v Speaker 1>it doesn't matter if Kamala Harris wins and we don't

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<v Speaker 1>know her policy because her her party is already pro crypto.

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<v Speaker 1>There are many members of the House and Senate who

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<v Speaker 1>are now looking to get legislation through and Paxo's CEO

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<v Speaker 1>urges Harris and Trump to create pro crypto regulations ahead

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<v Speaker 1>of US legislation. Pacsos CEO sent a letter to presidential

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<v Speaker 1>candidates Kama Harris and Donald Trump on Tuesday. The CEO

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<v Speaker 1>also criticized the current regulatory environment for crypto, calling it

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<v Speaker 1>an inhospitable place for financial innovation. So I love that

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<v Speaker 1>the industry is coming out speaking, putting the pressure, putting

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<v Speaker 1>their money where their mouth is, right, That's very important.

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<v Speaker 1>And I'll be interviewing the CEO of PASOS again pretty soon.

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<v Speaker 1>That's Charles Cascarilla, and they're doing some big things with

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<v Speaker 1>stave different stable coin issuers. So guys, like I said,

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<v Speaker 1>we're winning ru on the winning side of history. The

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<v Speaker 1>markets are looking bullish. I hope you are as bullish

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<v Speaker 1>as I am. Have a plan, know what your cash

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<v Speaker 1>out points and price points are, and know what you're

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<v Speaker 1>doing guys. Write it down and a great way you

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<v Speaker 1>can support me in the podcast is to subscribe to

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<v Speaker 1>my free email newsletter. Also, grab a copy of my book,

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<v Speaker 1>Rethinking Crypto. It's available on Amazon and paperback in digital.

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<v Speaker 1>If you bought a copy ready, please leave a rating

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<v Speaker 1>and review. It will really help me out. Thank you

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<v Speaker 1>so much. I appreciate you all and I'll talk to

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<v Speaker 1>you all later. Post eight post bok, post eight book

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<v Speaker 1>post bot