Speaker 1: Hey everyone, welcome into the Thinking Crypto podcast. You're home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
Speaker 1: On your way in. Please let that subscribe button as
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Speaker 1: If you're listening on a podcast platform such as Spotify
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Speaker 1: five star rating. Well, folks, the volatility continues. We're all
Speaker 1: waiting for Bitcoin to find some sort of bottom and
Speaker 1: then start a relief rally. And we of course know
Speaker 1: the all coins follow bitcoins move, So right now, bitcoins
Speaker 1: still hovering around the over soul zone. It's currently trading
Speaker 1: near sixty nine thousand dollars, so we're seeing a bit
Speaker 1: of an uptick here. It seems like there's a nice
Speaker 1: bullish setup that is happening on the chart, but of
Speaker 1: course we got to give it time. There's no guarantees here,
Speaker 1: but I think we are due for a relief rally
Speaker 1: because we've been so oversold, in the extreme oversold in fact,
Speaker 1: based on the RSI both on the daily and the week,
Speaker 1: the fear and greed sentiment has been in extreme fear.
Speaker 1: I mean it's at levels we've never seen before the
Speaker 1: Fear and Greed index hit five, So it's rough out there.
Speaker 1: And look, this is a bear market obviously, right, as
Speaker 1: we've been talking about over the past week or so.
Speaker 1: But even in bear markets, you do see strong counter
Speaker 1: trend moves, right, especially when the sentiment is so bad,
Speaker 1: the market always does the opposite of the herd. There's
Speaker 1: a lot of people depressed, they're giving up, some are
Speaker 1: calling for very insanely low prices right that go beyond
Speaker 1: the technicals and the metrics. And I do believe that
Speaker 1: there's a potential for us to go into the fifty
Speaker 1: thousands here. You know, it's not guaranteed, but certainly it's
Speaker 1: something that could happen. So I do think we might
Speaker 1: see a relief rally first before we roll over. Now,
Speaker 1: how high that relief rally goes, you know, there's some
Speaker 1: strong resistance at around like eighty k or so I
Speaker 1: would love for it to break through there and go
Speaker 1: test one hundred, one hundred and one thousand, But there's
Speaker 1: no guarantee of that. We're gonna have to watch how
Speaker 1: this plays out. You know, I've told you guys that
Speaker 1: I'm personally looking at potentially taking some profits and bigcoin
Speaker 1: hits the ninety thousands. I'm not selling all my bigcoin,
Speaker 1: just some taking some money off the table, and then
Speaker 1: continuing to hold and accumulate once we hit the lows
Speaker 1: again for the next bull market. So that's my strategy. Obviously,
Speaker 1: your financial situation may be different. Some of you may
Speaker 1: not need to cash out or anything. You know, maybe
Speaker 1: the best thing to do is just hold. Some of
Speaker 1: you may need the money and you have to liquidate.
Speaker 1: But you know, this is not financial advice. You've got
Speaker 1: to do what's best for you. But that's just what
Speaker 1: I'm doing. A good sign on the daily chart with
Speaker 1: this little bit of a move. The bears are losing momentum.
Speaker 1: The macdich is getting from dark red to light red
Speaker 1: and usually it's about to flip green, so that could
Speaker 1: indicate a relief rally is coming soon. Obviously, the market
Speaker 1: has to prove itself and we have to let this
Speaker 1: play out. There are some things that we should keep
Speaker 1: in mind for or that could be catalysts and huge
Speaker 1: narratives that could spark the relief rally. For example, the
Speaker 1: Supreme Court said they're going to announce on February twentieth,
Speaker 1: so just next week their opinion on Trump's terrorfs right,
Speaker 1: So will they rule that it's unconstitutional and they reverted.
Speaker 1: We're seeing there's some front running of that right where
Speaker 1: Trump and China and others are. You know, he's backtracking essentially, right.
Speaker 1: So this is not to get political. It's just the facts, right,
Speaker 1: of what's been happening. People get very politically upset about things,
Speaker 1: but sometimes when you just state the simple fact of
Speaker 1: what's happening. But just want to make sure you guys
Speaker 1: understand where I'm coming from. So if there's a reversion
Speaker 1: of the terriffs, then the markets could rally significantly. We're
Speaker 1: gonna We're gonna have to wait and see how that
Speaker 1: plays out. Not to mention, Trump has his feed shirt
Speaker 1: that's going to be you know, nominated soon and be
Speaker 1: put into office come May with Jerome Powell ending his
Speaker 1: tenure there, Plus you have the crypto market structure builds.
Speaker 1: So could these things all dovetail over the next couple
Speaker 1: of months and then we have a very strong relief rally. Yeah,
Speaker 1: I think so, but you know, not guaranteed, right, guys,
Speaker 1: So I hope you understand that when we look at investing,
Speaker 1: we're looking at different scenarios and which one has the
Speaker 1: higher probability of playing out. So I do believe there's
Speaker 1: a high probability for a relief rally. Again, I think
Speaker 1: a low probability of going to new all time high.
Speaker 1: So we'll see how this all plays out. Now. Over
Speaker 1: the past few days, you know, with a lot of volatility,
Speaker 1: Just so you guys know, a Coinbase actually went down
Speaker 1: a bit, so I was actually surprised by this. But
Speaker 1: they have resolved the issue and they said everyone's funds
Speaker 1: are safe. Obviously Coinbase is a legit, trusted exchange, publicly traded.
Speaker 1: I'm a user of the platform, but they had some issues.
Speaker 1: And this is where I always tell you guys, regardless
Speaker 1: of which platform, I custody, the majority of my crypto
Speaker 1: assets on hardware wallets, and many of you know I
Speaker 1: use Treasure They make great hardware wallets. They actually pioneered
Speaker 1: the hardware wallets back in twenty thirteen. They started the
Speaker 1: whole industry and the building the device with the seed
Speaker 1: phrase setup and much more. And their devices, the new
Speaker 1: Treasure Safe seven is quantum resistant and top of the
Speaker 1: line security and much more. And they support a variety
Speaker 1: of tokens, so obviously all the top coins such as Bitcoin,
Speaker 1: e Theorem, XRP, Solana, Cardano, doche Cooin, and much more,
Speaker 1: even new tokens like black Rocks, Biddle. They have a
Speaker 1: great software call Treasure Suite which helps you to manage
Speaker 1: all of this. You can buy and sell within the
Speaker 1: respective app on mobile as well as desktop, and they
Speaker 1: have a handholding service so if you buy the device,
Speaker 1: you can talk to a Treasure rep and they can
Speaker 1: walk you through the process of setting it up. They
Speaker 1: don't ask you for your private key, so you don't
Speaker 1: have to worry about it now. Right now, they have
Speaker 1: a Valentine's Day sale going on where you can get
Speaker 1: big discounts, so you can get up to twenty percent
Speaker 1: on some of the bundles and much more. So. This
Speaker 1: is running to February fifteenth, so over the next couple
Speaker 1: of days, so make sure you check it out. You
Speaker 1: can get a big discount and one of these devices. Again,
Speaker 1: the best way and the safest way to store your
Speaker 1: crypto assets is on a hardware wallet where you control
Speaker 1: the private keys. And one of the great features of
Speaker 1: the Treasure wallets is that their devices are open source.
Speaker 1: The code is open source, so it's out there anybody
Speaker 1: can reverew it. That's how much they trust what they've built.
Speaker 1: So if you'd like to learn more about Treasure, visit
Speaker 1: a link in the description and check out the Valentine's
Speaker 1: They sale. Now. Guys, the CFTC has announced its members
Speaker 1: for the newly formed Innovation Advisory Committee and it has
Speaker 1: some very big names like Ripple CEO, Brad garlingd House.
Speaker 1: You have a Dina Friedman chair and Sea of the NASDAC.
Speaker 1: You have Hayden Adams, CEO of uniswop Labs, Brian Armstrong's
Speaker 1: the of Coinbase, So this is really really great guys.
Speaker 1: You have Tradfi plus crypto firms involved in this, and
Speaker 1: I think this is very significant. It's analogous to what's
Speaker 1: happening with crypto and tradfy and the convergence we're seeing.
Speaker 1: So great to see all these things are happening, and
Speaker 1: of course might see like the new CFTC chair is
Speaker 1: getting a lot done and he's collaborating with Paul Atkins,
Speaker 1: the SEC chair to get crypto legislation and clarity done. Guys.
Speaker 1: So this is really really great and we continue to
Speaker 1: see progress is being made on the crypto market structure,
Speaker 1: build dialogue and meetings and hearings. You know, most recently
Speaker 1: the banking and the crypto industry had their second meeting.
Speaker 1: Democrats had a specific meeting about this. So while you
Speaker 1: know it's a bit slow as molasses in certain parts
Speaker 1: of the process, we're still making progress overall. Right. The
Speaker 1: trend is that things are moving ahead. And here the
Speaker 1: White House Crypto Digital Asset Advisor Patrick Witt said today
Speaker 1: there are trillions of dollars in institutional capital on the
Speaker 1: sidelines waiting to enter the crypto market. So he's saying,
Speaker 1: once the Clarity Act is passed, it's going to unlock
Speaker 1: that trillions. And I've been telling you guys that for
Speaker 1: a long time from people I've been speaking to in
Speaker 1: the industry and in the tradfi world. So there's a
Speaker 1: lot of capital waiting to come in. These firms that
Speaker 1: you know, they're making announcements that they're looking to do things.
Speaker 1: They're just dipping your toes. They're ready to plunge in.
Speaker 1: But you need the Clarity right because they don't want
Speaker 1: to have problems getting lawsuits and all these things. We
Speaker 1: need the Clarity Act in place that these companies can
Speaker 1: go all in, and as I've said many times, this
Speaker 1: is going to lead to higher valuations of their tokens
Speaker 1: and their blockchain networks as you get more capital and
Speaker 1: building on them and investments in them. But first things first,
Speaker 1: we got to get the rules of the road in place. Now,
Speaker 1: one thing that may hinder us is Donald Trump and
Speaker 1: his family continue to launch crypto products. On one hand,
Speaker 1: it's bullish, right, it's adoption. But on the other hand,
Speaker 1: as I've been saying for a long time, I wish
Speaker 1: he would slow down, wait till the Clarity Act is passed,
Speaker 1: because we see some people in Congress are going to
Speaker 1: call out the ethics right and in addition to other things.
Speaker 1: But I'm hoping this is not going to be a roadblock.
Speaker 1: So Trump Backworld. Liberty financial will launch World Swap, a
Speaker 1: cross border remittance platform target getting the seven trillion dollars
Speaker 1: annual four x market. So we're Liberty Financials of course
Speaker 1: crypto focused, right, so I'm sure they're going to use
Speaker 1: their stable coin us the one also Trump's Truth Social
Speaker 1: Files for two crypto ETFs, so Trump Media's Truth Social
Speaker 1: Funds filed with the SEC for two cryptocurrency ETFs, one
Speaker 1: for the chronos Yield Maximizer ETF targets cro plus staking
Speaker 1: rewards that's the crypto dot com token, and the other
Speaker 1: is the bitcoin in Ether ETF tracks bitcoin in ether
Speaker 1: plus ether staking. So again, look, I'm not saying he can't,
Speaker 1: but just this is just horrible timing. It also has
Speaker 1: bad optics. Let the legislation pass and then you know,
Speaker 1: you can do your thing. Although I would argue it's
Speaker 1: okay for his kids to be involved in this, but
Speaker 1: things that are closely related to him that have his
Speaker 1: name on it and not a good idea. It's just
Speaker 1: bad optics. And you know, I've been not a fan
Speaker 1: of the meme coins Milania and Trump meme coins, which
Speaker 1: are down like ninety five percent by the way, So
Speaker 1: those things I think hurt the market. So it's a
Speaker 1: double edged sword with Trump man. He's good for crypto,
Speaker 1: but he's also doing crap that is like hurting crypto,
Speaker 1: you know, in the eyes of the masses and even
Speaker 1: in the industry. So I wish he would just hold off,
Speaker 1: let the market structure pass, and then do your thing.
Speaker 1: So hopefully these things don't pop up and you know,
Speaker 1: cause us to have a delay. Now, look at this,
Speaker 1: Crypto Group counters Wall Street bankers with its own stable
Speaker 1: coin principles for bill. So we all know the banks
Speaker 1: don't want you to earn stable coin yield on platforms
Speaker 1: like Coinbras or uphold or wherever. Right, they want to
Speaker 1: keep as much of that money for themselves. They get
Speaker 1: their big bonus. As we know the game. We've talked
Speaker 1: about it at nauseum. Well, you know, the banks proposed
Speaker 1: some things and now crypto industry is pushing back. So
Speaker 1: the US Senates Crypto Market Structure Bill has been waylaid
Speaker 1: by dispute over something that's not related to market structure
Speaker 1: yield on stable coins. The Digital Chambers, offering a response
Speaker 1: to a position paper circulated earlier this week by bankers
Speaker 1: who oppose stable coin yield, the Crypto Group's own principles
Speaker 1: documents argues that certain rewards are needed on stable coin activity,
Speaker 1: but that the industry doesn't need to pursue products that
Speaker 1: directly threaten bank deposits business. So guys, this is not
Speaker 1: about you know, any type of risk. It's just simply
Speaker 1: they're going to lose those big fat bonus checks, right,
Speaker 1: That's all this is about. And they want to keep
Speaker 1: giving you zero point zero one percent the breadcrumbs in
Speaker 1: your savings account. Right. They don't want to give you
Speaker 1: the majority of the yield that they're earning on the
Speaker 1: money you park at the bank, right, they want to
Speaker 1: keep it. So that's what this battles about. But we're
Speaker 1: going to see. I'm not sure what the compromise is
Speaker 1: going to be. Hopefully they do find it some sort
Speaker 1: of resolution. It seems like both sides are willing to
Speaker 1: do something here, and the banks are starting to look
Speaker 1: bad because crypto on the attack, you know, highlighting this
Speaker 1: is them trying to screw the consumers, right, which they are.
Speaker 1: Frankly they are right, So we shall see. But great
Speaker 1: that the crypto industry is pushing back. Okay, Bitco, which
Speaker 1: just recently went public a crypto custodian of course, expands
Speaker 1: its partnership with twenty one Shares to provide staking and
Speaker 1: custody across the US and EMEIA. So partnerships, acquisitions, mergers
Speaker 1: and companies going public, expansions across the globe all continue
Speaker 1: to happen. So this is really great. Look at this news.
Speaker 1: This is big for h Bar. I am an h
Speaker 1: Bar token holder, so FedEx, many of you know the
Speaker 1: courier company. They have joined the HEDERA Council to advance
Speaker 1: trusted digital infrastructure for global supply chains. So this is
Speaker 1: really big. If you look at who's part of the
Speaker 1: Headera Council, it's pretty amazing. IBM, you got Google and
Speaker 1: many big names. They are working with some of the
Speaker 1: biggest institutions and headera is continuing to get a lot
Speaker 1: of adoption. Many Again, many of you know, I'm an
Speaker 1: HBAR token holder. I'm bullish on it and I'm looking
Speaker 1: forward to it doing better in the next bull market,
Speaker 1: right because we know this previous bull market was lackluster,
Speaker 1: it was stunted, and and you know, we can go
Speaker 1: through all the reasons, but you know, we've we've kind
Speaker 1: of talked about it before, but to say the least,
Speaker 1: there was no all code season like we've seen before.
Speaker 1: So I'm still bullish and I'm still holding HBAR. It's
Speaker 1: going to be one of the tokens I'm going to
Speaker 1: accumulate in the bloody bear market, right and when blood
Speaker 1: is on street, everybody's scared. So I'm certainly going to
Speaker 1: be picking this up along with XRP and some others
Speaker 1: and preparing for the next bull market. Okay, moving ahead,
Speaker 1: check President signed a law removing capital gains tax on
Speaker 1: bitcoin after three plus years of holding. So this is
Speaker 1: really great and I'm hoping it sets a big standard
Speaker 1: that is copied around the globe because it will boots
Speaker 1: crypto adoption and it would be huge. You know of
Speaker 1: other jurisdictions started following through. But this is huge to
Speaker 1: eliminate capital gains tax and it's amazing three years a holding. See,
Speaker 1: if you've been a long term a holder, that's really
Speaker 1: good man. So we'll see you know, hopefully the United
Speaker 1: States put something like this in place, that would be amazing.
Speaker 1: And speaking of the United States, the Indiana Senate Committee
Speaker 1: advances HB ten forty two allowing state retirement funds to
Speaker 1: invest in cryptocurrency. So we continue to see states across
Speaker 1: the US are embracing crypto. They're not waiting for the
Speaker 1: federal government. They're passing legislation to allow their pensions and
Speaker 1: different things to invest in crypto. We know a handful
Speaker 1: of states already doing that, investing in bitcoin ETFs. You know,
Speaker 1: they're buying like the Blackrock bitcoin ETF and much more
Speaker 1: so just incredible, incredible. What's happening again? You know, right
Speaker 1: now the prices are down, it's bear market. Everybody's frustrated.
Speaker 1: They kind of pissed off of how the previous bull
Speaker 1: market ended. But I still see so much adoption, so
Speaker 1: much building, so much investing, And while again this past
Speaker 1: market was a lackluster, I do believe that once we
Speaker 1: get the market structure in place and you have all
Speaker 1: these things coming together converging, it's gonna you're gonna see
Speaker 1: a massive I think the super cycle ball market. And
Speaker 1: I'm not saying that just out of hype, just what
Speaker 1: I'm actually seeing the factual things now right and all
Speaker 1: the building. I mean, if you just look at what
Speaker 1: happened in Q four, aside from the price action, we
Speaker 1: had some of the biggest adoption news ever ever ever.
Speaker 1: I mean, it's incredible. All the banks are here, the
Speaker 1: stock exchanges, they're looking to go twenty four to seven.
Speaker 1: They're integrating blockchain. You see, Jamie Diamond has capitulated. He's
Speaker 1: no longer trashing crypto. He's like crypto and stable coins
Speaker 1: and blockchain are all real and YadA YadA, Right, every
Speaker 1: last naysayer is capitulating even Vanguard, So there's nobody. There's
Speaker 1: no detractors on the big institutional side now in the
Speaker 1: media and you're you know your Peters Shift and some
Speaker 1: of these other guys, Yes, but you know they're nobody.
Speaker 1: You know what I mean right, What you want is
Speaker 1: the companies that have the capital, that have the network,
Speaker 1: and they're all here and the last ones have capitulated
Speaker 1: Morgan Stanley and Vanguard has mentioned. So I'm excited for
Speaker 1: the future of the market. So don't be dismayed, don't
Speaker 1: be depressed, don't think Crycto's dead, don't fall for it.
Speaker 1: I've been here from many cycles, guys, and I've seen
Speaker 1: it all and seeing them even worse with FTX collapsing,
Speaker 1: where I thought the market might not be able to
Speaker 1: come back, and it did because markets are cyclical and
Speaker 1: regardless of the narrative and who got flushed out and whatever,
Speaker 1: they will rebound, especially when you have technology that's going
Speaker 1: to be part of the fabric of the markets and
Speaker 1: governments and economy moving forward. I've been saying it it's
Speaker 1: all going to run on blockchain rails. Anyway, guys, that's
Speaker 1: the news. Let me know what you think. Leave your
Speaker 1: thoughts and comments below. Hit the thumbs up buttons subscribe
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Speaker 1: analysis and things of when we may see a relief
Speaker 1: rally and so forth, So check it out again. It's
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Speaker 1: thank you so much for tuning in. I appreciate you all,
Speaker 1: and I'll talk to you all later.