Speaker 1: Bitcoin and all coins continue to struggle. Are we heading lower?
Speaker 1: I want to share some charts and what I'm anticipating
Speaker 1: as we head into January, and more companies are adding
Speaker 1: bitcoin to their balance sheet and there are ETFs being
Speaker 1: created around these things now. And we have a new
Speaker 1: advisor to the Digital Assets Council who's joining David Sachs.
Speaker 1: I'll tell you who it is. 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 and please hit that subscribe button as well, so
Speaker 1: thumbs up button and leave a comment below. If you're
Speaker 1: listening on a podcast platform such as Spotify or Apple,
Speaker 1: please leave a five star rating and review. Folks, it's
Speaker 1: great to be back. As many of you know, my
Speaker 1: grandfather passed away and it was a very difficult time
Speaker 1: for me and my family and of course took time
Speaker 1: to go to the funeral, spend time with the family,
Speaker 1: mourn and grief and all that stuff. Guys, as I'm
Speaker 1: sure many of you who've done with family members who
Speaker 1: passed away, it's a tough time, especially when the holidays
Speaker 1: so guys. My word of advice, you know, make sure
Speaker 1: you tell the people you care about how much you
Speaker 1: love them and give them a hug. And one of
Speaker 1: my New Year's resolution is to spend more time with
Speaker 1: my family and make sure that I do the things
Speaker 1: I want to do with them, say the things I
Speaker 1: want to say to them as well. So just think
Speaker 1: of that, guys as you head into twenty twenty five.
Speaker 1: Because life is short, folks, Let's talk about the markets.
Speaker 1: Everyone is wondering when is Bitcoin going to move again?
Speaker 1: Right now Bitcoin is below ninety six thousand again, and
Speaker 1: of course the all coins are bleeding, they're struggling. But
Speaker 1: this is normal. This is the market cycles playing out here,
Speaker 1: both from a micro and a macro. There's nothing new
Speaker 1: here per se. If it's your first go round in
Speaker 1: the crypto market, then it's all new for you. But
Speaker 1: if you've been here from multiple cycles, you've seen things
Speaker 1: like this. So short term, what can we expect. I
Speaker 1: personally think Bitcoin's going to go lower. I've been telling
Speaker 1: you guys before even we had this correction, that Bitcoin
Speaker 1: could go back down and test eighty eight k, even
Speaker 1: eighty k before we bounce and go higher and lo
Speaker 1: and behold that it's playing out, and I think Bitcoin
Speaker 1: could go lower one of the Elliott wave as chart
Speaker 1: analysis that was put together from fx Empire shows that
Speaker 1: Wave four could take us to about eighty a K
Speaker 1: or eighty seven thousand before we bounce, So that could
Speaker 1: take us into January. So just be prepared. You have
Speaker 1: to exercise patients here that this correction and then eventual
Speaker 1: consolidation could take it straight into the middle of January. Now,
Speaker 1: it doesn't have to play out like that. I'm not
Speaker 1: saying this is a guarantee. I'm just saying I think
Speaker 1: this has the higher probability of playing out and then
Speaker 1: we see that balance and we start pumping again. So
Speaker 1: just be prepared for that, guys. And if it bothers you,
Speaker 1: you got to step away from the charts, right, don't
Speaker 1: look at it every day, don't look at the price
Speaker 1: every day, don't look at your folio every day. These
Speaker 1: are things I personally exercise to help maintain my focus
Speaker 1: and my mental health, right, because looking at your portfolio
Speaker 1: and seeing a decline, especially with these very volatile moves
Speaker 1: in the crypto market, can be a bit stomach churning, right,
Speaker 1: And you're like, oh, no, that's it. I was looking
Speaker 1: to make X amount of profits and so forth. But
Speaker 1: as always, guys, we don't want to move by our emotions.
Speaker 1: We want to move by the data. What is it
Speaker 1: telling us? And some people are saying, hey, look a
Speaker 1: cycle tops in, And as I've been telling you guys,
Speaker 1: different metrics and signals and indicators are not showing that.
Speaker 1: Like the picycle top indicator has not flash, it's actually
Speaker 1: very far from signaling a top. The CBBI chart shows
Speaker 1: us we are nowhere near the top now. I would
Speaker 1: say we are about eighty percent near there, and what
Speaker 1: we still have maybe about twenty percent left before we
Speaker 1: hit that zone where the top flashes. Even the Bitcoin
Speaker 1: monthly RSI is not near these zone or above eighty
Speaker 1: where we've seen the top come in historically. And whales
Speaker 1: continue to accumulate, so we're not seeing a major selloff.
Speaker 1: There has been a small decline, but there hasn't been
Speaker 1: any major pullbacks, which signals, oh no, the whales are selling.
Speaker 1: So now we have to be aware of what's happening here.
Speaker 1: And the bitcoin supply and exchanges continues to decline. So
Speaker 1: all of these are great signs that the top is
Speaker 1: not in and we are just experiencing a normal, healthy pullback.
Speaker 1: And these are things that have took place in the
Speaker 1: previous bull market cycles. I've been telling you guys about
Speaker 1: December twenty twenty into January twenty twenty one. There was
Speaker 1: a very steep correction there and then we started pumping,
Speaker 1: you know, as we headed later into January. So something
Speaker 1: similar is happening here. It's not going to be exact,
Speaker 1: it's not going to be a carbon copy. But as always,
Speaker 1: history doesn't repeat, but it does rhyme. So be patient
Speaker 1: and like I said, walk away from the charts if
Speaker 1: it's bothering you. Enjoy the holidays, right, and we're gonna
Speaker 1: see the pump, next pump again, the next wave up.
Speaker 1: But we gotta let this sentiment get reset. We got
Speaker 1: to get the leverage flushed out, and then there's gonna
Speaker 1: be a bit of fear, right, and then it's gonna
Speaker 1: start ripping, and then we're gonna go back to greed.
Speaker 1: Same story, different cycle. We've seen this time and time again.
Speaker 1: So guys, I am still bullish. I still think we
Speaker 1: have more upside to go. Twenty twenty five, though, is
Speaker 1: the year we will see a top it's the four
Speaker 1: year cycle playing out. I don't think it's as much
Speaker 1: as the having as it is the presidential election cycle,
Speaker 1: which global liquidity and MP two money supply follows. Because
Speaker 1: the government's print more money, the incumbents try to print
Speaker 1: more money, inject more liquidity to help them get re elected,
Speaker 1: and all that jazz. So this is just once again
Speaker 1: a very healthy pullback, and I'm going to look to
Speaker 1: buy the dips where possible, not so much for Bitcoin
Speaker 1: but for all coins, especially for those which have not
Speaker 1: really rallied that hard yet, but they will eventually as
Speaker 1: the liquidity cycles through the market. So that's where it's at. Guys.
Speaker 1: I'm still bullish, but I think we got some more
Speaker 1: downside here for Bitcoin and the all coins will bleed
Speaker 1: as well, So just be prepared for that. Your portfolio
Speaker 1: is going to swing back down a bit. But then
Speaker 1: you know, once this thing finds its bottom here, it
Speaker 1: will start balancing and we're going to see higher highs
Speaker 1: and higher lows, So just be prepared, guys. Quick word
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Speaker 1: link in the description. Guys, check out this news. Cooler
Speaker 1: Technology launches Bitcoin Treasury with twenty one million dollars purchase.
Speaker 1: Remember when I was telling you, guys, this is not
Speaker 1: a fad, This is a trend that's going to continue.
Speaker 1: More companies are going to adopt bitcoin as their treasury
Speaker 1: reserve asset, one to maintain their purchasing power for the
Speaker 1: cash that's on their balance sheet. And two, if they're
Speaker 1: a publicly traded company, they're going to see the benefits
Speaker 1: same way micro Strategy did. Now, I don't expect them
Speaker 1: to puff as well as micro Strategy, but they will
Speaker 1: see some benefits and it's better than nothing, right, There's
Speaker 1: dual benefits here for the stock as well as protecting
Speaker 1: the cash in their balance sheet. So we are seeing
Speaker 1: more and more companies in the United States and around
Speaker 1: the world are adopting this strategy. So the publicly traded
Speaker 1: company is the latest to adopt a bitcoin treasury, joining
Speaker 1: a growing number of firms adding bitcoin to their balance sheet.
Speaker 1: So really, really amazing. So according to a December twenty
Speaker 1: sixth announcement, the purchase was made at an average price
Speaker 1: of ninety six five and fifty six dollars per bitcoin.
Speaker 1: Cooler said the acquisition is the first of several planned
Speaker 1: purchases as part of a broader strategy to allocate up
Speaker 1: to ninety percent of its surplus cash into bitcoin. Big
Speaker 1: move guys, very very big move. And like I said,
Speaker 1: this is only going to continue to grow. And while
Speaker 1: we've had some news of micro strategies board saying or
Speaker 1: the shareholder saying, no, we don't want to do this,
Speaker 1: it's just a matter of time. It's not a matter
Speaker 1: of if, it's just a matter of time. And here
Speaker 1: Japanese public company Meta Planet, which has been really following
Speaker 1: micro strategies game plan. They bought six hundred and nineteen
Speaker 1: bitcoin for about nine point five billion yen, and we
Speaker 1: got news that Rumble the video platform. They announced seven
Speaker 1: hundred and seventy five million dollar investment into Tether. Michael
Speaker 1: Sailor has also been talking to them about adding bitcoin
Speaker 1: to their balance sheet. So guys see where we're headed here.
Speaker 1: And if you guys recalled, there was a company I
Speaker 1: forgot the name. They said they were going to buy
Speaker 1: bitcoin and xrpeed. So eventually, as we have more clarity
Speaker 1: around other assets, you're going to see, well some companies
Speaker 1: have already added ethereum, but you're going to see other
Speaker 1: assets being added to the balance sheet as well. So
Speaker 1: that's why I've often said I'm bullish on this cycle,
Speaker 1: but I'm also bullish on the next bull market of
Speaker 1: twenty twenty eight. So I have my strategy of taking
Speaker 1: some of the profits I make in in this bull
Speaker 1: market and reinvesting it in the bloody bear market and
Speaker 1: prepare for the next cycle up. So I hope you
Speaker 1: see the macro vial of this and where it's headed.
Speaker 1: This is not stopping and some of the accounting rules,
Speaker 1: like the fast b accounting rules make it easy for
Speaker 1: companies to do this now. So things are moving in
Speaker 1: the right direction. And here Bitwise Asset Management recognizes this
Speaker 1: and they're creating an ETF around this. So Bitwise files
Speaker 1: for a Bitcoin Standard Corporations ETF with own stocks of
Speaker 1: companies that have adopted the Bitcoin standard, which they define
Speaker 1: as holding at least one thousand bitcoin in corporate treasury.
Speaker 1: So once again, this thing is not slowing down. This
Speaker 1: will continue to grow and as inflation continues to be
Speaker 1: an issue, and as the business cycle with high rates
Speaker 1: and look, I know the FED is cutting rates, but
Speaker 1: rates are still relatively high and they're going to start
Speaker 1: printing money again. It's going to take some time for
Speaker 1: those things to ramp up. And bonds are not doing
Speaker 1: as well, and crypto bitcoin is certainly a big option
Speaker 1: to help not only maintain the purchasing power of your
Speaker 1: balance sheet, but also grow the value because the bitcoin's
Speaker 1: appreciating at a rapid pace. So, guys, incredible stuff. Now
Speaker 1: let's move ahead. We got news here that bo Hines
Speaker 1: has been named Executive Director of the Presidential Council of
Speaker 1: Advisors for Digital Assets the Crypto Council, by Donald Trump.
Speaker 1: Dan Spuller of the Blockchain Association said bo is a
Speaker 1: steadfast ally of the crypto industry. During his visit to
Speaker 1: the Blockchain Association headquarters earlier this year, we were impressed
Speaker 1: by his deep understanding of crypto bitcoin and his commitment
Speaker 1: to fostering innovation. In his new role, alongside David Sachs,
Speaker 1: bo will help solidify digital assets as a cornerstone of
Speaker 1: America's technological feature. We couldn't ask for a better advocate.
Speaker 1: Wishing him great success. So we continue to see, oh,
Speaker 1: crypto officials and representatives being put into the upcoming Trump administration. So, guys,
Speaker 1: twenty twenty five is going to be bullish. I know
Speaker 1: the price right now. Everybody's like, oh no, the price
Speaker 1: is now, But you got to look at the macro
Speaker 1: and that's what I try to share here on this podcast.
Speaker 1: The macro is so important. Don't get lost in the
Speaker 1: micro of the hourly, daily, weekly, even some parts of
Speaker 1: the monthly right where things are just not going well
Speaker 1: from a price standpoint, but that's just market cycles. The
Speaker 1: United States is being set up here to embrace crypto entirely,
Speaker 1: pro crypto President, procrypto Congress and all these different advocates
Speaker 1: in the White House and in different parts of the government.
Speaker 1: Plus you're going to see I think the Crypto Fit
Speaker 1: twenty one bill make it through the Senate next year,
Speaker 1: stable cooin legislation, all of these things, and of course
Speaker 1: you have all the institutional players here. So things are
Speaker 1: aligning up very nicely. Now. Crypto dot which is one
Speaker 1: of the top crypto exchanges in the world, they have
Speaker 1: launched their own US trust company, crypto dot Com Custody
Speaker 1: Trust Co. So they received a trust company charter in
Speaker 1: the United States. That's a very positive sign. And we
Speaker 1: continue to see the race for crypto heating up. All
Speaker 1: these exchanges and companies are expanding globally, getting licenses, making acquisitions,
Speaker 1: launching new services. They wouldn't be doing this if they
Speaker 1: didn't see where we're headed, right, because they are companies
Speaker 1: that are trying to make as much money as possible
Speaker 1: and be as profitable as possible. So when I see
Speaker 1: things like this, it's really bullish because they're not just
Speaker 1: waking up and saying, oh, let's just go do this.
Speaker 1: They're studying the market, they're seeing the adoption, they see
Speaker 1: what's on the horizon, and everybody is trying to grab
Speaker 1: as much market share as possible. So very very bullish news.
Speaker 1: All right, folks, that's the news. Let me know what
Speaker 1: you think. Leave your thoughts and comments below. The way
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Speaker 1: Buy a copy for yourself, Buy a few copies for
Speaker 1: your friends and family, give them as a gift so
Speaker 1: that they can learn about crypto so they don't get wrecked.
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Speaker 1: me out. Thank you guys so much for watching and listening.
Speaker 1: I appreciate you all, and I'll talk to you all
Speaker 1: later