35 Burst results for "$ 1 Million"
Crypto Banter
A highlight from If You Missed The Crypto Rally, Follow This EXACT Roadmap!
"If you're feeling lost or underexposed after the recent crypto rally, then you've come to the perfect video. Because today, I'm going to be outlining my roadmap for crypto riches in the next bull run, running you through the five steps that you can follow to build the ultimate bull market portfolio. Yes, you haven't exactly timed the bottom correctly if you're watching this video and you don't have all your entries, but no, you haven't missed out on the opportunity to capitalise next bull run, as I believe this market in the right conditions can go much, much higher. And we can see if we look at the YouTube views, which is pretty much the ultimate retail indicator, retail is still hardly back yet, Bitcoin is sitting above $37 ,000. So the amount of potential this market has to grow once retail comes back in leads me to believe there are still massive opportunities. So there's no need to panic, no need to FOMO if you haven't got your entries yet. But what you must do is come up with a sound accumulation plan to make sure that you're building your portfolio in the right way for the bull run. And that's exactly what I'm going to run you through. In today's video, there are many ways to make money in this market, you can scalp you can day trade, you can swing trade, you can airdrop farm. But in today's show, I'm going to be focusing on the investing side of things, the slightly more passive side things that doesn't require you to pick it up as a full time skill. Yes, it's going to take some active portfolio management, if you really want to build a successful portfolio, but it's not as time intensive as some of the other strategies that you might be following in the market today is purely focused on the long term investment side of things, how you can build an underlying portfolio to keep yourself steady and maximize upside for the next bull run, whilst also building a nice foundation for if you do want to trade and if you want to do anything additional that you can stack on top, I believe this strategy is complimentary to trading strategies in the market. So it's not a one or the other thing. But it is about setting up some nice foundations. So in light of that, where do we currently sit? Well, although the altcoin market has had a pretty big pump and Bitcoin has had a big pump, I believe we're still in an accumulation phase. Technically, we are still in the year pre halving. And typical Bitcoin bull run peaks don't tend to happen until the year after the Bitcoin halving, which would be 2025, late 2024, when things really start to pick up. Of course, every cycle is going to be a bit different. Maybe we are seeing things shift a little earlier, maybe not, maybe it shifts later, we can't time it exactly. But what we do know is generally, we are in an accumulation phase. So the goal of an accumulation phase is to stack as much crypto as possible via any means possible. The way you do this is obviously where all the nuance is. And this is where you're going to exhibit the difference between the 2x return next cycle and a 20x return next cycle. I think if you stick to the principles in today's video, there's a good chance that you can be aiming for that 10 to 20x portfolio value next cycle versus many people who are just simply going to ride it all the way up and then end up round tripping it all the way back down. Because accumulating through any means possible doesn't mean just accumulating after every pump. There's actually a strategy that I want you to follow in order to get better entries on altcoins. And that's what we're going to talk about now. So the first thing that you need to do if you want to build a successful portfolio is create a watch list. It sounds so simple, but it's something people often get wrong. They see these new coins cropping up on Twitter, they get tempted to ape in, when in reality, you should have a really organized for system having your watch list. So before you even think about buying, make sure you have a clear watch list identified. And this process can take months, this process can take years. But what happens is as you research, as you watch more videos, as you experience new things, as you learn things, you gradually refine your watch list, you get rid of coins that maybe aren't performing so well, and you add coins that you find out about that you're bullish on, and eventually you end up curating a really nice watch list. So the easiest method to start with when it comes to building a watch list, this is even before we get into any of the buying stuff, is to start with the individual sectors or narratives. So what I would do is I would pick two to three verticals you're most bullish on and start your research there. Niche down into two sectors that you really, really believe in. Some of the examples of the sectors that I find interesting are in front of you. I think AI is interesting, real world assets, gaming, ZK, LSDs, DEXs, SocialFi, NFTs, pick maybe two, three of these sectors and really start narrowing in on those sectors. I really like to build my portfolio around these major sectors because I believe crypto doesn't operate in isolation. There are many growth verticals which are going to help crypto achieve massive option, and there are certain growth verticals out of those that are going to end up outperforming. And the ones that I specifically like, I do want to concentrate a bit more of my portfolio allocation towards those narratives. For example, if you're really into crypto gaming, this could be a logical place to start research the gaming space and start positioning yourself there before you start creating a watch list for some of the other sectors. But of course, over time you'll build out a fully fleshed out watch list around all of your favourite narratives. So what I would do to build a watch list, I wouldn't do it in Apple Notes, although you can, I would do it in Trading View because Trading View has this amazing yet very simple feature which allows you to build individual watch lists. I would make a list called buy list or accumulation list. And what I would do is whenever I find a coin that I am interested in buying, or I know I want to buy a coin, I would just add it to my buy list because this will be your list that you know that you can look at every single day in order to monitor those coins and also get your entries on those coins. So having it all condensed in one place on Trading View is really handy. And what you can do is you can sort by colour in one of two ways. You can sort colour based on the narrative. So I can make let's say any AI project orange and any L2 green. Or you can also do it in terms of market cap, have like, you know, red for your large caps, green for your small caps, however you want to colour code it, you can do that to make it easier for you. So then you can go into your red list and your blue list etc. And actually sort by major caps, small caps, mid caps. So organisation is really key here in terms of making sure your watch is super organised because it's going to make it easier for you to actually keep track of this journey. I think most I know it sounds so simple, but most people don't do this. Most people don't have an organised watchlist or an organised spreadsheet. And this is the first step to successful investing, right? If your mind's not organised, how can you expect your portfolio to be organised? I mean, it's just so important. If you do want to fully maximise your portfolio management, because it's not just buying, that's the trick here. It's managing, it's awaiting allocations, etc. So it all starts with having good setups. So in order to do this, we'll head into step number two now. And that's creating a journal in Excel. So after you've got your watchlist into trading view, this is when you want to go a little bit deeper, because the trading view watchlist is the coins you want to buy. But on Excel, you start to enter some logic. So I'll give you an example of how I would do it. I would list all the coins I'm interested in buying. This is a sample portfolio. Then I would have a column which says my thesis, time horizon and invalidation and risks. So for example, for Ethereum, I've written down my thesis, which is it has a diverse ecosystem. It has first mover advantage versus other L1s. It has institutional interest, which is set to ramp up. And it has proven staying power within the industry. I've put my time horizon at five plus years because I view it as an extremely long term bet. Now, obviously, taking profits can happen at any time in between this period. But it's important to have a time horizon established because certain investments will be more trade based and certain investments will be more long term. And I would also put my invalidation slash risk. So for Ethereum, I've said the major risks are it can lose market share to other L1s like Solana, for example. It could have technical risks if there are any major upgrades gone wrong, because I know they're doing a lot of network upgrades. And another risk could be the invalidation of one of my main key thesis points, which is institutions are piling into Ethereum. Maybe they don't choose to or they opt for other coins or Bitcoin, etc. And this would be an invalidation. So I would go through my entire portfolio and I would enter in the thesis for each coin, time horizon and invalidation. Why? Because at any given moment, you're going to be able to go back and say, why did I buy Injective? Oh, it's because this is my thesis. Why did I buy Ethereum? Oh, it's because this is my thesis. And then before you panic sell to rotate into a new hot coin on crypto Twitter, you can actually go back to your thesis and look, okay, am I still bullish? Are the reasons I was bullish then still the reasons I'm bullish now? And you can answer yes or no. And you can tweak it over time. And this helps remind you why you bought a coin in the first place. Because so often people just buy coins because they're hyped. And then they're like, I actually don't understand what this coin does. Why am I holding this coin? Well, that's something you need to avoid in order to create a successful portfolio. Because if you don't have conviction in a coin, how are you going to hold it through the rough times? And who's to say you're not just going to rotate out of it if you don't believe in it to a hotter coin, a shinier coin, if your coins underperforming, right. So it's very important to have everything documented in an Excel or a Google Sheets or however you want to track it. So you actually it's like a trading journal, right? So you have your thesis clearly outlined for each coin. Another thing you can do to go a step further is actually conduct a SWOT analysis for each coin. This is actually an amazing practice that I highly recommend doing. And it basically means once a coins in your watch your trading view watch list, and once you're starting to populate it into the Excel, actually go fill out a form, it can be done on a on a Google Doc, and you can link that into your original Excel. So I'll show you what I mean, you can create another column here, which says SWOT, and then you can have the Google Doc link entered in here, click on that, it'll open up a new document, or if it's on your desktop, then you can link it to another document on your desktop, which basically means you'll you'll have an individual study, a SWOT analysis study for every single coin that you've actually gone and researched. And this is a great learning experience. Because when you're trying to find the strengths, let's say for Ethereum, the weaknesses, the opportunities, the threats, you're going to come across new ideas and new thought processes. And let's say for Ethereum, you can think of the strengths, you know, the opportunities, you know, some weaknesses, but you can't think of any threats. Well, that's a great gap in your understanding that you can explore and prod further. So you can look for counterpoints, you can look for content, which actually challenges your theory, you can ask people in the space. I mean, we I answer a lot of questions and DMS, etc, on Twitter, but I know Randals and the other hosts do as well. And also other experts in those niches, I think are also super accommodating if you have any interesting questions. So by filling out these sheets, you're going to get a much more detailed analysis on your favorite old coins. And this will help you develop your theses as well. So underrated little trick here is to actually do a SWOT analysis for each coin and link that into your spreadsheet. I'm basically trying to practice here healthy habits when it comes to portfolio building, because I can almost bet 99 % of you probably don't have an Excel that has in -depth theses and plans and invalidations for every single coin you hold. Most of you probably just ape into coins on a centralized exchange or maybe on DEXs and that's completely okay. Nothing wrong with that. But I'm saying if you want to maximize next cycle, it's time to level up. It's time to get serious and it's time to plan because if you don't, you'll be left behind and maybe some of you have the taste of being left behind from the past couple of weeks. I know a lot of people have been asking me, you know, have I missed it? Is it too late? Well, it's not too late, but it is going to be too late soon if you haven't got the right plan in place because things can happen super quick in this market as you've seen. So now for step number three out of the five step roadmap. Now it's time to determine position sizing. And this is the most subjective and nuanced step in this video because obviously how much risk you allocate to a low cap will be different from you to the next person, right? Because I don't know your financial situation. You might have a family you need to support, you can't take much risks. You might be young like me and be willing to, you know, risk it all and you don't really care. If you lose money, you may be super wealthy and you're only playing around with 5 % of your net worth. And if you blow it on crypto, you don't really care. To some people, you might really care about losing money, right? And you might want to be a little more conservative. So it really depends on your situation and your goals. Do you want to hit a million dollars next cycle? Do you want to hit a hundred K? Do you want to hit 10 million? Like, it really depends on your situation. So this is something only you're going to be able to work out. But I'll give you an example of how I would determine position sizing. So on the Excel, I would add a column for percentage portfolio weighting. So this number is going to represent your ideal position size for each coin. I'll show you what I mean. So for example, for Ethereum, I've allocated in the sample portfolio 20%. So $100 ,000 portfolio, that would be $20 ,000. And I've allocated percentages for all the other altcoins based on $100 ,000 portfolio. And you can tweak this number as you wish in order to get the representative figures when you make your own sheets. But what this is going to do is give you an idea of how you actually weight risk. Now, how do you determine how much percentage to allocate to each project? The easiest thing to do is break it down by either sector. So you can go like, let's say 30 % towards L1s, 15 % towards L2s, whatever verticals you're bullish on, as we discussed before, you'll allocate heavier to those. Verticals you're less bullish on, you'll allocate less heavy to them, right? But my preferred method is actually not by sector, depends how your brain works, but I prefer to do it by market cap. So large caps, I might allocate 40 % towards, mid caps, I might allocate 30 % towards, small caps, I might allocate 20 % towards and micro caps, anything under $10 million, I'll allocate 10 % towards. So this is one way that can help you structure it. What you can actually do is you can create a pie chart. So once you've got the size right of all the coins, you can create another column, link that to your allocation percentage, and then make a pie chart and actually see how much of your portfolio is mid caps, large caps, small caps, and micro caps. That's a big tip that I have for you, because that's going to help you get a view of how much risk you're taking with your portfolio. And look, as I said, for some people, your micro caps might be 30%. You just might want to hit the lottery next bull run and make 10 million or make nothing and you decide to do that and go, you know, you want to go 30, 40 % on micro caps, knowing that you could blow it all. But some people might prefer to go, no, I like, you know, I'm happy with the three to four x next cycle. I'm just going all large caps. I'm just going to go Ethereum and Solana and a couple others, and that's it. And, you know, make my maybe three, four, five x, I'm not interested in the 100x stuff. And that's completely fine as well. That's why it completely depends on your personal situation. And step number three is the most subjective one. But hopefully just by writing it down and allocating per sector, this gives you a good idea of how you want to structure your portfolio. And you'll get a pretty good feel once you start to track your portfolio in real time, as to how volatile your portfolio is, you might realize it's too volatile, you might realize you're not getting enough upside. So the beta is not correct on crypto pumps. So you'll actually know over time. And this isn't anything set in stone, you can tweak over time, if you want to go more risk on when the market's more aggressive, you can do that. If you want to less risk on when you want to be more conservative, you can do that. No one says your portfolio has to be set in stone all the time. This is where you allocate to fresh accumulation. So now you've assigned your weightings, it's time to plan your entries. How do you do this? Well, you have a trading view already set up. So this is going to be your number one port of call when it comes to market out levels. What I would do is I would go through that entire trading view by list that you've mapped out. And I would set key horizontal support levels on a high timeframe like the monthly or the weekly. And then I would draw in the levels where I would look to accumulate. So let's use dydx as an example, you can go into the weekly you can mark out clearly range lows a dollar range high was $2 .70. And your next major resistance level is at $4 .20. So your green accumulation zone is your ultimate support by this is your range low support. We may not get there. But this is where you want to put in limit orders, right? Your yellow box, you would have a an alert on trading view set up for when we hit this zone. So you'd create a little alert here, it'll ding on your phone, you can say as your message, you can say dydx buy zone. And what this will do is it will track when we drop back down into that zone. So you can and you can also set a limit order there. And then you have your red box, which is the same thing. So when you break above, you get that alert. When we come back down on confirmation, you can make a buyer. So for the green box, this is something you could have set a passive limit order on an exchange automatically do it, you don't even need to do it yourself. Just let it happen. If it gets back down there. For the orange and the red zones on altcoins, these are more active positions. So use the trading view alert function when you get alerted, then you can make your decision on exactly when you want to DCA. But you probably should stick to your plan once you outline it, right? If you if you make a plan that you want to accumulate on the retest of dydx range high, then when you actually get there to the chat to the point of accumulating, don't flinch, like you actually have to follow through on your plan. So what I would actually do is I would even write in some text here, I would go to settings, I would write in some text, I would say accumulate on retest, if x, y and z, you might have some technical parameters that that you want to like add in, if you're a bit more technical, like, you know, I want to see RSI up on the upswing, I want to make sure there's a four hourly confluence with the retest, whatever, all those technicals that you can kind of stack on top. But it's really good to actually write this down. So on trading view for each coin, you're going to have your levels on the weekly on the monthly, like dogecoin, for example, a major support level I would look at is the five seven level, this is an area that I would be interested in setting limit orders. So the more limit orders you can set the better if you can set limit orders on exchanges and just have some capital across a few different exchanges, have your limit order set and forget about it, that's the best, because then you're not going to panic when price gets there. A lot of the time what will happen is price will actually get down to the support and then people get bearish, right? They bearish here, they bearish here, they bearish here, they bearish here, they never want to accumulate in the support range. Then when the price starts pumping, they're like damn next dip I want to buy right and then it goes back down. And then when it dips down, you don't actually end up buying because you're psychology and the back and forth of wrestling with emotion and basically forcing you to buy in when you have a predetermined level that you want to buy in. For the DYDX example, you do have that predetermined level on range low, but because price is pumped, you now have to potentially look at buying on confirmation of the retest of key breaks of resistance levels flipped into support. So this is going to require a bit more nuance than just setting limit orders. But that's just a reflection of where that coins out every coins in a different zone, right? And every coin has a different scenario, like for fracks, you might say, okay, on the break of 760, I want to buy some fracks, because this clearly shows that it's reverse downtrend, for example, and then you would set that order once you've broken above. So it's not a perfect science. But what this does is it kind of forces you to stick to a strategy when the levels are in your trading view, and your plans are predefined before price gets there, then when price gets there, you should just be sticking to your plan. So you should be having a plan for the next six months on levels accumulation across a variety of coins. And you should know exactly when you're buying and you should know exactly what happens if price keeps pumping. What level are you actually going to get interested at again? So let's say the idea smashes through the highs, you know that you're probably going to buy the retest of range high on the high timeframe, right? So have all those scenarios planned out, then you're never gonna have to form it because even if price pumps, you've got a plan for that. And if price dumps, you've also got a plan for that you've got your limit orders, right? So you should be planned either way for either scenario. And if you want to get nuance with timing entries, you can even stack on additional tools like AI, etc. to get better entries. For example, Kyber AI, you guys know how I like the Kyber score in order to track momentum. When you do see a momentum swing on the Kyber score, that could also be an indicator that you can use in confluence with let's say the retest of that range high as we discussed before, in order to get your exact entry when your trading view alert goes off. And you can use all sorts of on chain data to snipe an even better entry. So it just really depends on your level. Some people prefer to be more passive and just DCA and whatever. But if you're a bit more active, you can start to stack these tools in order to get slightly better entries. And for more advanced market participants, a website like Kyber AI, I think is a good one. So there's a link in the description below to get beta access to Kyber AI for free. It's a free platform, if you're interested in that. So hopefully that accumulation plan makes sense. I think it just boils down to take advantage of fear. Typically, these support buys will happen after major sell offs. And the major sell offs typically represent the strongest opportunities in the market. I mean, just look at Solana. The two biggest FUD events were the two events that ended up being the best buying opportunities for SOL. And these were actually areas where I publicly said that I was buying Solana and they ended up being amazing buys up, you know, four to five x now. So buying fear in this market is definitely the strategy when you're aiming to build positions for the long term. Okay, let's go to step number five. Now, this is a really, really important one. This is keeping stables on the side for new projects. So I do this for two reasons. One, some of the best performing projects next cycle haven't even been released yet. Newer shiny objects tend to outperform their older counterparts, because there's less suppressory effect on price, due to the lack of underwater bag holders on new coins versus old coins. So what are old coins, there are a lot of bag holders, they can still explode, it doesn't mean they can't perform well. But just typically new performs can have that more aggressive thrust to the upside because there's less kind of dampening due to supply pressures, right. So keeping stable coins on the side for new projects is really important. Not only because of that, but because of the fact that new projects often solve the needs in the market that the old projects couldn't solve. So they usually launching and not all new projects are good, some new projects are rubbish, but really quality new projects are launching because they know that they fill a gap in the market that other projects couldn't, or they're improving on the technology that other projects have already established. So there's a benefit there as well. And the second reason why I like to keep stable coins aside is because it prevents you from recklessly rotating out of existing holdings. So if you have no capital, you're probably going to be more willing to sell let's say your Solana bag if it's not performing well to rotate into Stacks because Stacks is performing well. But if you have capital on the side, right, you have actual cash, you don't need to sell your Solana because you have cash that you can deploy into Stacks. So you're less likely to rotate out of your Solana into Stacks because you got capital to buy it. So one of the biggest tips for just not giving up on a bag too early is just keeping stable coins on the side. It's such a basic thing, but it's something so many people don't do. They get too greedy at certain times and don't hold enough cash. And then they get to risk off at certain times and hold too much cash. The key is keeping a balance. And I've been in both camps. There's been periods where I've held too much cash. And then there's I've kind of learned my mistake here. And for most people sitting around the 20 % mark in cash is not a terrible idea in terms of your crypto portfolio. Once again, this comes down to your risk tolerance, etc. As long as you have something that prevents you from FOMOing into these shiny coins with old positions, because this happens every bull run, you want to FOMO into the new coins. But it's just better if you if you're not forced to sell. Forced selling is horrible, often leads to a really subpar result in terms of your exit price. Much better just to have fresh capital used that's and reserved solely for the purpose of buying into newer coins. So this isn't to say that you can't tweak allocations over time. I think you should always tweak allocations. As prices pump, you can take profits, rotate into other alts, take profits into USD. As income comes in from other income sources, you can put that into the market. Some coins you might realize, okay, say is not really realizing its vision. Maybe you don't think they're executing very well. The team makes some mistakes. You can actually delete that off your watch list at certain points and add a new coin that you think's better. Like there's nothing saying the portfolio you build now has to be set in stone. But there's something to be said for starting to plan and having a system. Because once you have a system, then you can plug and play any old coins into that system. Once you have your watch list, have your Excel, it's easy to make small modifications versus overhauling the whole thing once every few months. It's better to just tweak it slowly over time. And I think it's actually very smart to make tweaks over time, because that enables you to be adaptive and it means you're not always stuck in old positions that might not be so favorable when there's new trends in the market. So always maintain adaptivity, but don't be rash. That's pretty much how I want to summarize that. I want to give a quick shout out to one of our official show sponsors now, which is SmartX. They actually did $5 .1 million in trading volume this week. So if you are looking to farm, they have a very good system which reduces the negative effects of impermanent loss, and in some cases can lead to impermanent gain across their LPs, across the networks Ethereum, Polygon, Arbitrum, BNB and Base. They recently just jacked up the APRs on Ethereum and BNB. They lowered them on Polygon and Arbitrum. So if you do want to look for some of the opportunities with additional multipliers now, you can look for example, on the ETH side on some of these pools, which have a higher APR. And as I said, it's not your typical AMM. They have a proprietary algorithm which makes impermanent loss less of a headache compared to other AMMs, for example, like Uniswap. And if you go onto their homepage of their website, and you click on simulate the algorithm, you can actually compare the performance of pools compared to pools on Uniswap. So you can scroll through and get some examples to see how SmartX actually works in practice, which is a nice feature as well. So there's a link in the description if you want to yield farm on SmartX, or even if you want to swap, it's also a DEX, of course, that can get you some decent swap rates too. And yeah, just another great week of trading volume for SmartX. So well done to the team over there. And looking forward to keeping on supporting you in the future on these shows. So I hope you enjoyed this video. I hope you learned something. And even if one person watches today's video and builds a nice system, and ends up benefiting that from that next bull run that it was worth my time because I think 99 % of people will be too lazy to do the stuff I talked about today. Because I get it, it's easier sitting back and being lazy. But for the ones that are willing to put in the time and be proactive, you're going to be the ones I think that end up really reaping the rewards of this. So well done to you if that's what you're about to do. And I will see you in my next show, which will probably be on Tuesday. See you later. Peace out.
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Monitor Show 00:00 11-13-2023 00:00
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Monitor Show 16:00 11-12-2023 16:00
"Access a vast selection of global fixed income securities at Interactive Brokers Bond Marketplace. Search their deep availability of over 1 million bonds globally. IBKR has no markups or built -in spreads and low fully transparent commissions on bonds. IBKR displays the highest bids and lowest offers received from the electronic venues they access. In addition, clients can interact with each other by placing bids and offers online to execute their trades. Learn more at ibkr .com slash bonds.
Bloomberg Radio New York - Recording Feed
Monitor Show 05:00 11-12-2023 05:00
"Access a vast selection of global fixed income securities at Interactive Brokers Bond Marketplace. Search their deep availability of over 1 million bonds globally. IBKR has no markups or built -in spreads and low fully transparent commissions on bonds. IBKR displays the highest bids and lowest offers received from the electronic venues they access. In addition, clients can interact with each other by placing bids and offers online to execute their trades. Learn more at ibkr .com slash bonds.
Bloomberg Radio New York - Recording Feed
Monitor Show 16:00 11-11-2023 16:00
"Access a vast selection of global fixed income securities at Interactive Brokers Bond Marketplace. Search their deep availability of over 1 million bonds globally. IBKR has no markups or built -in spreads and low fully transparent commissions on bonds. IBKR displays the highest bids and lowest offers received from the electronic venues they access. In addition, clients can interact with each other by placing bids and offers online to execute their trades. Learn more at ibkr .com slash bonds. Four hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. The group Doctors Without Borders claims Israeli forces shot at people fleeing a hospital in Gaza City. The organization urgently calls on Israel's military to stop the attacks, which it says were witnessed today by staff members at Al -Shifa Hospital. The group claims the shelling also killed several inside the large complex. The Israeli military denies targeting the facility and said its forces are fighting Hamas militants nearby. The trains are running again in New York's Grand Central Station after the terminal was shut down by police and pro -Palestinian demonstrators last night. Hundreds gathered outside the Manhattan terminal, prompting authorities to limit access and then shut it down. The nation's paying tribute to its military veterans today, President Biden taking part in a Veterans Day wreath -laying ceremony at Arlington National Cemetery in Virginia this morning. Biden says the nation has one sacred obligation to America's vets. Prepare those we send into harm's way and to care for them and their families when they return home. The president announced changes to veterans' health care benefits as well as the creation of a task force designed to protect vets from scams. State and federal investigators are on the case after a letter, possibly containing the potentially deadly painkiller fentanyl, was sent to an elections office in Georgia this week. Brad Siegel has the story.
Bloomberg Radio New York - Recording Feed
Monitor Show 07:00 11-10-2023 07:00
"Access a vast selection of global fixed income securities at Interactive Brokers Bond Marketplace. Search their deep availability of over 1 million bonds globally. IBKR has no markups or built -in spreads and low fully transparent commissions on bonds. IBKR displays the highest bids and lowest offers received from the electronic venues they access. In addition, clients can interact with each other by placing bids and offers online to execute their trades. Learn more at ibkr .com slash bonds. The equity market has become more expensive in absolute terms and more expensive relative to fixed income. Markets are a little bit more volatile right now than the underlying economy is. Ultimately, you will get to an earnings reset. We think that's part of next year's narrative. I think that you have to look for opportunities and things that have struggled as you go into 2024. This is Bloomberg Surveillance with Tom Kean, Jonathan Ferro and Lisa Abramowitz. The longest winning streak in two years is over. Live from New York City this morning. Good morning, good morning. For our audience worldwide, this is Bloomberg Surveillance on TV and radio. Alongside Tom Kean and Lisa Abramowitz, I'm Jonathan Ferro. Your equity market on the S &P totally unchanged. Down and down hard yesterday. TK, pick your poison. Do you want to blame Powell or do you want to blame the soft auction yesterday afternoon? I'm going to blame Powell. That's where I'm going to go. But I think the auction was of value. And as I've said all morning, Bramo was right. I was wrong on the auction. But you know what, John? I'm going to blame Powell on the idea that he pulled back. But this morning, I got to fix, John, a 15 .32 and we were 21 a worried cup of coffee ago. So even with a one -day pullback, it's remarkable where we are. I'm going to blame the auction. I think, once again, spooking equity investors' developments in bond markets. Lisa, to see that yield move higher by more than 20 basis points following that auction speaks to how nervous people still are about fixed income. And the lack of certainty around benchmark yields and where they're going to end up. I also think it's interesting.
Bloomberg Radio New York - Recording Feed
Monitor Show 23:00 11-10-2023 23:00
"Access a vast selection of global fixed income securities at Interactive Brokers Bond Marketplace. Search their deep availability of over 1 million bonds globally. IBKR has no markups or built -in spreads and low fully transparent commissions on bonds. IBKR displays the highest bids and lowest offers received from the electronic venues they access. In addition, clients can interact with each other by placing bids and offers online to execute their trades. Learn more at ibkr .com slash bonds.
Bloomberg Radio New York - Recording Feed
Monitor Show 14:00 11-09-2023 14:00
"Access a vast selection of global fixed income securities at Interactive Brokers Bond Marketplace. Search their deep availability of over 1 million bonds globally. IBKR has no markups or built -in spreads and low fully transparent commissions on bonds. IBKR displays the highest bids and lowest offers received from the electronic venues they access. In addition, clients can interact with each other by placing bids and offers online to execute their trades. Learn more at ibkr .com slash bonds. Testing 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. Now, from our nation's capital, this is Bloomberg Sound On. Two major stories that we're following here developing before our eyes. What does it say about Trump's influence on the Republican Party? What can the Biden administration do on its own to support Israel? Bloomberg Sound On. Politics, policy and perspective. From D .C.'s top name. The There is bipartisan support for Israel. This is one of the big ones. We only see once every decade or two decades in the Middle East. Bloomberg Sound On with Joe Matthew and Kaylee Limes on Bloomberg Radio. Eight days to a government shutdown and no plan yet. Welcome to hour two of Sound On. As the Senate prepares to jam the House, we'll have the latest from Capitol Hill. With the help of Bloomberg's Laura Davison and Mike Doerning and this hour, Fed Chair Jay Powell taking part in a special panel discussion at the IMF's annual research conference. You're going to hear him live in just a few minutes here on Bloomberg. So thanks for being with us today on the radio, on the satellite and on YouTube. Search Bloomberg Global News and we'll meet you here in the studio after we get an update on Wall Street. We do that.
Coronavirus
A highlight from zkWasm L2 Prover On Polygon CDK
"Welcome to your Ethereum news roundup. Here's your latest for Wednesday, November 8th, 2023. Polygon Labs announces the development of zkwasm, Optimism launches an art contest, Caldera supports custom gas tokens, and Stacker Labs raises a $5 .5 million seed round. All this and more starts right now. Polygon Labs announced that it is developing zkwasm, a zero -knowledge prover aiming to enhance connectivity between Wasm -based blockchains and Ethereum as well as the Polygon CDK ecosystem. The project is a collaborative effort with the NIR Foundation which has become a contributor to Polygon CDK. Wasm -based blockchains use Wasm for smart contract execution, enabling a developer -friendly approach by allowing applications to be built using a broader range of programming languages. With zkwasm, developers will have multiple prover options for their chain deployments using Polygon CDK. Optimism launched the We Love the Art competition, offering 1 million OP tokens and prizes to on -chain creators. Users can participate by minting their creations into NFTs on OP mainnet through any of the nine partner minting platforms. Users must then submit their entries on welovetheart .optimism .io before December 13th. A panel of 40 judges will rate the artworks and select 184 winners across four categories including AI Art, Generative Art, One of Ones, and Music. The prizes are structured in tiers with the highest award being 50 ,000 OP tokens for a winner in each category. Partner platforms for minting include Manifold, sound .xyz, OpenSea, Zora, Descent, and mint .fun. Caldera, a rollup as a service provider, now supports the use of any ERC20 token as a native gas token for Arbitrum Orbit and OP stack rollup deployments. The move diverges from the standard practice of using ETH for transaction fees on Ethereum based rollups. The feature allows users to transact without needing the native asset of a chain for fees. Loot Chain is among the first rollups on Caldera to implement the feature on mainnet by adopting its AGLD token as its native gas token. And lastly, Stacker Labs, a modular tooling provider for rollups, raised a $5 .5 million seed round led by archetype. Stacker simplifies the building of micro rollups using general -purpose programming languages. Developers can use stacker tooling to build app -specific rollups with a custom execution environment. Stacker plans to use the raised funds to expand its team, finalize preparations for the launch of its platform, and grow its developer ecosystem. In other news, Autoscan releases a 2 .0 alpha version of its block explorer, Yearn introduces yprisma incentives, and Etherscan releases an advanced filter leaderboard. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening. And we'll see you tomorrow.
Ethereum Daily
A highlight from zkWasm L2 Prover On Polygon CDK
"Welcome to your Ethereum news roundup. Here's your latest for Wednesday, November 8th, 2023. Polygon Labs announces the development of zkwasm, Optimism launches an art contest, Caldera supports custom gas tokens, and Stacker Labs raises a $5 .5 million seed round. All this and more starts right now. Polygon Labs announced that it is developing zkwasm, a zero -knowledge prover aiming to enhance connectivity between Wasm -based blockchains and Ethereum as well as the Polygon CDK ecosystem. The project is a collaborative effort with the NIR Foundation which has become a contributor to Polygon CDK. Wasm -based blockchains use Wasm for smart contract execution, enabling a developer -friendly approach by allowing applications to be built using a broader range of programming languages. With zkwasm, developers will have multiple prover options for their chain deployments using Polygon CDK. Optimism launched the We Love the Art competition, offering 1 million OP tokens and prizes to on -chain creators. Users can participate by minting their creations into NFTs on OP mainnet through any of the nine partner minting platforms. Users must then submit their entries on welovetheart .optimism .io before December 13th. A panel of 40 judges will rate the artworks and select 184 winners across four categories including AI Art, Generative Art, One of Ones, and Music. The prizes are structured in tiers with the highest award being 50 ,000 OP tokens for a winner in each category. Partner platforms for minting include Manifold, sound .xyz, OpenSea, Zora, Descent, and mint .fun. Caldera, a rollup as a service provider, now supports the use of any ERC20 token as a native gas token for Arbitrum Orbit and OP stack rollup deployments. The move diverges from the standard practice of using ETH for transaction fees on Ethereum based rollups. The feature allows users to transact without needing the native asset of a chain for fees. Loot Chain is among the first rollups on Caldera to implement the feature on mainnet by adopting its AGLD token as its native gas token. And lastly, Stacker Labs, a modular tooling provider for rollups, raised a $5 .5 million seed round led by archetype. Stacker simplifies the building of micro rollups using general -purpose programming languages. Developers can use stacker tooling to build app -specific rollups with a custom execution environment. Stacker plans to use the raised funds to expand its team, finalize preparations for the launch of its platform, and grow its developer ecosystem. In other news, Autoscan releases a 2 .0 alpha version of its block explorer, Yearn introduces yprisma incentives, and Etherscan releases an advanced filter leaderboard. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening. And we'll see you tomorrow.
Dennis Prager Podcasts
A highlight from Murderers Manifesto
"We get it. You're busy. You don't have time to waste on the mainstream media. That's why Salem News Channel is here. We have hosts worth watching, actually discussing the topics that matter. Andrew Wilkow, the next D 'Souza, Brandon Tatum, and more. Open debate and free speech you won't find anywhere else. We're not like the other guys. We're Salem News Channel. Watch any time on any screen for free 24 -7 at snc .tv and on local now channel 525. Hello, my friends. I'm Dennis Prager, and I hope you had a good weekend. I have delved into the question of how good a weekend or a good any day one could have when the world is so filled with evil and one has to try despair as a sin, as I have noted on a number of occasions based on my Bible commentary. Hi, everybody. Good to be with you. This is late breaking. I normally don't have the show driven by news as it breaks, but this is an important—many of them are important, but this is, I believe, worthy of immediate attention. This is from Newsweek. Conservative social media personality Steven Crowder teased the release of a manifesto allegedly written by an accused school shooter in Nashville, Tennessee, where six victims died earlier this year. Boy, I'll tell you, Newsweek is really—this sentence is so gingerly phrased. Let's see. The manifesto is allegedly written by an accused shooter, not the shooter. Six million victims died, not were murdered. In a video posted Monday, that's today, to YouTube, Crowder said the manifesto was leaked and shared screenshots of portions of the document which was believed to be written by Audrey Hale, 28, whom authorities identified as the shooter. They also said Hale, who died at the scene, once attended the school. By the way, that is interesting that they say allegedly. You say allegedly when somebody is about to stand trial, but if the person was shot at the scene, you don't say allegedly. What was Audrey Hale doing there? Checking out school curricula? No, it's a little too ginger. Anyway, I will be reading the manifesto here on this show. I wish that I wouldn't have to, Crowder said in the video. In a post to X, formerly Twitter, Crowder shared other images of the manifesto, including one part that said, I hope I have a high death count. Newsweek has been unable to independently verify that Metro Nashville Police Department spokesperson told Newsweek that the police are unable to confirm the manifesto, but said they are actively looking into the matter. Here's a question for Nashville police. Why didn't you release it immediately? Some authorities had it, and my suspicion is because the manifesto reveals, as was suspected, a left -winger and it was a trans person. So the left sort of has the view, padona misa gosh, there are no enemies on the left. And whereas if the manifesto were some racist, anti -black screed, we would have known about it immediately. So three children and three adults at Nashville's Covenant School were murdered. She later died from gunshot wounds. Shortly after the shooting occurred, this is again from this Newsweek article, police said that they had recovered a manifesto believed to have been written by hell. So why, why was it never released? The ongoing investigation into the March 27 murders of six persons inside the Covenant School continues to show, from all information currently available, that killer Audrey Hale acted totally alone. That's not the question. Well, I'll report to you. There is a report somewhere, but since I haven't seen it, I can't, I won't report it yet, about what it revealed. And it seems to me that if the report is correct, it was a big anti -white kid screed. All right. So we live in an age of moral confusion, as I have warned all of my life. And the charge against Israel that it commits genocide against the Palestinians which a charge that has been made for decades, this is not new to the current war against Hamas, is another gigantic lie of the left. But the truth is not a left -wing value. So I have data here from Statista, which has no political bias that I know of. You agree with me? I don't know. Okay, fine. Statista Infographic Newsletter. Statista puts out statistics. So this is from 2020. Growth of Palestine. Let's see now. The need for peace continues to grow in urgency as Palestine's population is growing at a larger rate than Israel. Jewish and Arab populations are on a collision course of parity in the coming decades, with Arab Israelis also growing faster than Jewish Israelis and gaining more voting power. Then there's a chart, Growth of Palestine. It begins in 1960, and the green is Palestine, the blue is Israel. They have gone from 1 .1 million to 5 .1 million in 2020. So there is a growth of essentially five times growth quintupled since 1960. The Jewish population has quadrupled, has gone up four times the Arab population of the area five times. Have you ever heard of a genocide where the people being genocided have a population growth of 5x? The lie is so grandiose, but you have to know something. The people screaming it believe it, especially those who are Palestinian or from other Arab or Muslim countries. They believe their lies. Read David Price Jones' book, The Closed Circle. You'll see that he's an Arab expert. He lived an exaggeration and lies as being very frequently in the public sphere conflated. Anyway, we're catching up. The truth is that a left wing value in the left wing dominates academia and the media. So much for the charge of genocide. The only attempt at genocide of the Palestinians and their Muslim supporters around the world, they wish to commit genocide against the Jews of Israel, perhaps all Jews in the world, but certainly Jews of Israel. That is the only genocide that can be alleged in the Middle East. Well, there was one, but I don't know. Yeah, I guess you'd call it the Middle East, of course. Do you remember the Yazidis, how they were wiped out by ISIS? Well, virtually, yeah. There was a real, let's put, an ethnic cleansing, let's put it that way. Genocide. From the river to the sea, Palestine will be free is a call for genocide. It is a call for the eradication of the Jewish state. There are 22 Arab states, from the Atlantic to the Indian Ocean, but there's no room for a Jewish state the size of New Jersey. People just always need to remember that. Should there be a 24th Arab state, one that never existed in the history of the world? I hear some Palestinian speakers actually saying, we are the descendants of the Canaanites. Did you know that? You can meet a living Canaanite. Can you meet a parasite and a Jebusite? He said he was a Jebusite? Is Arafat said he was a Jebusite? I didn't know the man had a sense of humor. And this is what your kids are learning at college. We return. Gold dealers are a dime a dozen. They're everywhere. What sets these companies apart and whom can you really trust? This is Dennis Prager for AmFed Coin and Bullion, my choice for buying precious metals. When you buy precious metals, it's imperative that you buy from a trustworthy and transparent dealer that protects your best interests. So many companies use gimmicks to take advantage of inexperienced gold and silver buyers. Be cautious of brokers offering free gold and silver or brokers that want to sell you overpriced collectible coins, claiming they appreciate more than gold and silver. What about hidden commissions and huge markups? Nick Grovitch and his team at AmFed always have your back. I trust this man. That's why I mentioned him by name. Nick's been in this industry over 42 years, and he's proud of providing transparency and fair pricing to build trusted relationships. If you're interested in buying or selling, call Nick Grovitch and his team at AmFed Coin and Bullion, 800 -221 -7694, American Federal dot com, American Federal dot com. spoke Barack Obama to his hundreds of his former aides with regard to the Middle East. And the New York Times reports he urged his former aides to, quote, take in the whole truth, seemingly attempting to strike a balance between the killings on both sides. Would he have done that in World War II? Strike a balance between the killings? Look at how many German civilians we killed. Look at how many Japanese civilians we killed. Would he have said that? I don't know, but to me it would be the same thing. The moral difference between the allies and the Nazis and the allies and the Japanese was no greater than the moral difference between Israel and Hamas. We live in the age of moral relativism. It's infected almost the entire intellectual class. I saw it when I was at graduate school at Columbia University, and professors generally equated the U .S. and the Soviet Union. It was not a battle, the Cold War in their view, between freedom and tyranny, or between, if you will, light and dark, with all the darkness that exists, obviously, in everyone and in every country. There was an unbridgeable gulf between light and dark between the United States and the Soviet Union, but they would not agree to that. It was a superpower battle or a battle of two economic systems, communism and capitalism, as if they are morally equivalent, let alone just equally effective. Well, there are people who build their society with communism and slaughter tens of millions of their people while doing it, and there's another free society which is infinitely wealthier. I remember that when I wanted to get soda from a soda machine when I was there during the Cold War, and I as know that I speak Russian, and so the machine would say, госированая вода, gas gaseous water, meaning like sparkling water. The machines were quite common in Moscow, I don't know about the rest of the Soviet Union, and there was a plastic cup like you would have in a house there, and everyone who got the sparkling water used that cup. Isn't that fascinating? One cup. I drank from it, you know me, I mean, you know, they reported internationally that I, for fork drops in a restaurant, I will actually use it. I am not, shall we say, a hypochondriac, struck but it me as an example, they didn't have the money to have a paper cup used every time and thrown away. Incidentally, I'll tell you what else moved me. I will acknowledge this, because truth is the number one obligation. Nobody stole the cup. I found that fascinating. Here's this former aide to take in the whole truth, unquote. This is Barack Obama this weekend, seemingly attempting to strike a balance between the killings on both sides. What Hamas did was horrific and there's no justification for it, Mr. Obama said, and what is also true is that the occupation and what's happening to Palestinians is unbearable. Really, what is happening to Palestinians that is unbearable? I'm not talking about the current war in Gaza, which they brought upon themselves just like the Germans did and the Japanese did. Unbearable? Really? Has he or anybody he talked to gone to visit the West Bank? Is life on the West Bank unbearable? Didn't strike me as that way, been there a number of times. All I remember was a lot of cranes building new buildings. And they're obviously having a lot of kids. Generally, having a lot of kids in an unbearable situation tend not to go hand in hand. What is true is that there are people right now who are dying, who have nothing to do with what Hamas did. There were Germans who died who had nothing to do with what Hitler did. That's correct and you blame Hitler for their deaths. You blame Hamas for the death of Palestinians in Gaza. All their money is used to buy rockets and dig tunnels everywhere, including right under hospitals. If there is such a thing as evil, Hamas is it. But after all, if you raise a generation to believe that America is evil, then evil loses its meaning, doesn't it? That is what has happened. Okay. There are no comments. It's interesting they don't have comments on me on this particular story. Dennis Ross is a major figure in Middle Eastern diplomacy. For 35 years, this former U .S. envoy to the Middle East, who has generally been critical of Israel, not anti -Israel, but critical of Israel. For 35 years, I've devoted my professional life to U .S. peacemaking policy and conflict resolution planning. Nothing has preoccupied me like finding a peaceful and lasting solution between Israel and the Palestinians. In the past, I might have favored a ceasefire with Hamas during a conflict with Israel, but today it is clear to me that peace is not going to be possible now or in the future as long as Hamas remains intact and in control of Gaza.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1450: I Expect Bitcoin ETF Approval By End of Month
"In today's show, I'll be breaking down the latest Bitcoin technical analysis. Also, Sam Bankman freed. He is found guilty on all seven charges in the FTX fraud trial. Quoting Max Kaiser, tough talk when it comes to the minor league drug Adderall ish corner like SPF, but where's all the bravado when Jamie Diamond gets caught manipulating markets and defrauding the public again or the next crooked Warren Buffett bailout? He makes great point. Also in today's show, Bitcoin to the moon. Send it. I'm going to be sharing with you the top five Bitcoin price predictions for twenty twenty four and beyond. That's what's up. Also, the latest from Cathie Wood of ARK Invest, also a twenty seven hundred percent Bitcoin price explosion is incoming courtesy of one catalyst, according to the BitMEX founder Arthur Hayes. We'll also be talking about breaking news. The Valkyrie CIO expects the spot Bitcoin ETF approval before the end of the month. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good, crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at CryptoNewsAlerts .net. Again, that's Crypto News Alerts dot net. Welcome, everyone. Today is podcast episode number fourteen hundred and fifty. Can you believe it? I'm your host, JV, and today is November 3rd. Welcome to Moonvember of twenty twenty three. Let's kick off today's show with our market watch as we do each and every day. We got Bitcoin up about a quarter percent, hovering just under thirty five thousand. We have Ether up point three percent trading at eighteen hundred dollars. Cardano, one of the top gainers, up five and a half percent and also XRP barely in the green. And if we are in doubt, they say you need to zoom out. Let's look at the one month. Wow, that's much more sexier, isn't it? Now we have Bitcoin up twenty seven percent for the month. We got ETH up about 10 percent. Solana is up almost 70 percent. Cardano up twenty three percent. XRP up fourteen percent. BNB up seven percent. Personally, I love it when everything in crypto is a winner. It don't get no sexier than that. And look at Chainlink up fifty two percent for the month. Good lord. And check it out. Coin market cap percent in just under one point three trillion with about forty five billion in volume in the past 24 hours. Bitcoin dominance pulled back a little bit, currently at fifty two point seven percent, and the ether dominance in the 16 percentage range for the first time I have ever seen that I could recall. It's currently at sixteen point nine percent as Bitcoin dominance continues to outpace the rest of the market, especially Ethereum. And checking out the top one hundred crypto gainers of the past twenty four hours for chain up fourteen and a half percent trading at three dollars and twenty cent and Oasis Network up twelve percent trading at six point two cents, followed by the trust wallet token up almost twelve percent trading at a dollar twenty three and checking out crypto bubbles so we can see the top gainers for the past week. Massive shout out to Emilio. I appreciate the super chat. Fam, you're way too kind. Much love, much respect. He just said you are amazing. Nah, I think you're amazing. And I appreciate the orange so we can orange pill more mofos and help change the world. Let's freaking go. Much love, fam. But as we can see on the crypto bubbles on your screen, we got a lot of gainers overall. That means the market cap is pumping and a rising tide rises all ships and checking out the crypto greed and fear index. We're currently rated a sixty five in greed. Yesterday was a seventy two last week, a seventy and last month a forty nine, which is neutral. So there you have it, my fam. What's your thoughts on the current Bitcoin price action? Let me know. Are you pumped up for Moomvember? I sure as hell am. Let's dive into our Bitcoin technical analysis for the day. Check out the charts with a Bitcoin price action is likely to go next. Bitcoin broke below thirty five G's baby after the November 2nd Wall Street open, as analysis warned of overheated derivatives. As you know, derivatives are financial tools of financial destruction. Yeah, for real. Now Bitcoin under does the post fed gains. We're currently tinkering just under that thirty five thousand, which is now back at a resistance. The highs had come on the back of the encouraging language from Jay Powell, the chairman of the Federal Reserve, who in a speech suggested the interest rate hikes might soon end. Now, the Fed opted not to change the rates at the latest meeting on the Federal Open Market Committee, which was November 1st quoting their press release. Recent indicators suggest the economic activity expanded at a strong pace. In the third quarter, job gains have moderated since earlier in the year, but remain strong and the unemployment rate has remained low. Inflation remains elevated and accompanying press release stated. They also shared here that the U .S. banking system is sound and resilient. Sure it is. Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring and inflation. The extent of these effects remain uncertain. The committee remains highly attentive to inflation risk. We all know they're full of ish, right, to say the least. And quoting crypto analyst, Bitcoin breaks out, reaches a new yearly high, which is currently just shy of 36 G's. Now, not a massive breakout, but as long as we say above 34 .8, which we currently are, the next target is 36 .5 to 37 ,000. And the altcoins will follow after, which is typically what seems to go down. Now, down over a thousand from its highs. Bitcoin was worrying some with derivative markets, particularly in the focus, quoting Charles Edwards at Capriole Investments. All Bitcoin derivatives markets are overheated at present. This captures the perps, futures and options. Stay safe out there. And also, we have reacting popular trader school agreed that arguing it was now the spot market to charge of saving the Bitcoin price strength, as he shares here, something to be aware of when sizing up positions currently, when derivatives get hot. This puts increasing focus on spot market to support the current prices and the trend. That's right. In his own analysis, we also had material indicators concluding caution should be applied to the current Bitcoin trading environment, meaning expect more volatility ahead and uploading the snapshot of liquidity on the Bitcoin order book for the largest global exchange, Binance. It warned support levels were apt to disappear quickly. A form of a rug pull. So you have been warned. Newcomer support gaining liquidity at this time lay at both 34 and 33 .5. So there you have it, fam. Again, how many of you are currently bullish on that? King crypto. And with that being shared, now let's discuss our next story of the day. The latest from Michael Saylor. He was recently interviewed on the news and shared some very positive sentiment in the Bitcoin market. Also, he has been a dollar cost averaging and stacking stats. This week, the Bitcoin price came within a hair of thirty six. I think we hit like thirty five nine ninety during our watch party before abruptly reversing and correcting to thirty four to fifty. But after nearly a 30 percent run over the past month, it is natural for the price to cool off as some traders take profit and market participants evaluate whether or not the catalyst for the rally remain valid. Now, despite the intraday price action, which saw almost five percent drawdown, a number of analysts remain bullish on Bitcoin naturally, and some expect another gamma squeeze. If the Bitcoin price manages to push through the thirty six three hundred level, we're only like four hundred dollars off of that right now. Just FYI, permables like MicroStrategy CEO Michael Saylor appear unbothered by the whipsaw price action. And on November 1st, MicroStrategy announced the October purchase of one hundred and fifty five more Bitcoin for five point three million. As the outlines here in October, MicroStrategy acquired additional one hundred and fifty five BTC for five point three million bucks, now holding one hundred and fifty eight thousand four hundred BTC like, whoa, and what's the most mind boggling? Saylor didn't even get into Bitcoin until twenty twenty. So it goes to show you someone can come here in twenty twenty three and become an even bigger whale than Michael Saylor. In fact, the likes of the Black Rocks of the world put Michael Saylor to shame because we're talking about mega mega mega whales on a massive scale. And when asked about the upcoming Bitcoin having during an interview on Squawk Box, here's what he had to share. Most of the natural sellers of Bitcoin in the market right now are Bitcoin miners and they have to sell to cover their electricity bills and capital costs and retire their debt. That's about a billion dollars per month worth of selling into the market. The protocol forces that to be cut in half as of next April or late April. And he also says, so you're going to see twelve billion bucks of natural selling per year converted to six billion of natural selling a year and at the same time as things like the spot ETFs increase the demand for Bitcoin. So that's why all of us are fairly bullish over the next 12 months. How many of you are bullish? Let me know. Demand is going to increase and supply is going to contract. And this is fairly unprecedented in the history of Wall Street. That's what's up now is a pretty ideal entry point for Bitcoin, according to Saylor. Also, he was recently interviewed and I actually transcribed this video clip when he was speaking on Squawk on the street. And I feel this is very relevant. Here's what Saylor says for the industry to move to the next level. We need to migrate to adult supervision. We're going to need the big banks to become the crypto custodians. We're going to need Wall Street to take a role and we need to rationalize away from the one hundred thousand crypto tokens. You know, the yo yo coins that people are manipulating to Bitcoin. Bitcoin is an asset without an issuer. It is the one universally recognized protocol that is a commodity in the space. And so when banks on Wall Street and responsible custodians are managing Bitcoin and the industry takes its eyes away from all the shiny little tokens that have distracted and demolish shareholder value, I think the industry moves to the next level and we 10x from here. Now, what's another 10x from the current price action we're talking about roughly? What is that? Three hundred and fifty thousand dollars per BTC. Send it and let's frickin go. Also quoting him here, I think the liabilities or the early crypto cowboys, the crypto tokens, which are unregistered securities, the unreliable crypto custodians for the industry to move to the next level. We're going to need to migrate to adult super vision. And I shared with you the rest of that quote. So there you have it. Let me know if you agree or disagree with the one and only giga Chad Michael Saylor. Next story of the day. This is breaking news. SBF has been found guilty in all seven fraudulent charges. Yeah, this is wild. Yeah, here we go. I'm going to read all this to you. Former FTX CEO Sam Bankman Freed was found guilty of all seven charges by a jury in his criminal trial in New York after about four hours of deliberations, meaning it didn't take long. Bankman Freed was found guilty of two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of commodities fraud conspiracy and one count of money laundering conspiracy. Good Lord. That's a lot of charges and it's just getting started. He'll be back in court in March to continue with some more charges to probably get guilty of. We'll return to the court for sentences by New York District Judge Lewis Kaplan March 28th. So that's the date is right before the having. Government prosecutors will recommend a sentence, but Judge Kaplan will have the final say. Now, Bankman Freed's crimes each carry a maximum sentence of between five and 20 years in prison with the wire fraud, wire fraud conspiracy and money laundering conspiracy carrying a maximum of 20 years sentence in a press conference outside the court, the New York Southern District U .S. Attorney Damian Williams called Bankman Freed's crimes a multibillion dollar scheme designed to make him the king of crypto, right? The Michael Jordan of crypto, the Warren Buffett of crypto and of one the biggest financial frauds in American history, Bankman Freed's attorney Mark Cohen said in a statement, we respect the jury's decision, but we are very disappointed with the result. Naturally, Mr. Bankman Freed maintains his innocence and will continue to vigorously fight the charges against him. Anyone here in the chat. We have over 200 people in the live. Anyone believe he is innocent? I am just curious if there's any outliers out there. Anyways, other key FTF execs, including former Alameda CEO Caroline Ellison, FTX co -founder Gary Wang and former engineering head Nishad Singh have all pleaded guilty to various charges and work with the government to testify against Bankman Freed in the five week trial. Now, Bankman Freed had pleaded not guilty to all the charges. And during his trial, he took the stand to maintain his innocence against the best wishes of his lawyers who told him to shut the what up, just saying, and marking the FTX November 2022 collapse as a number of big mistakes I made. He denied any wrongdoing in the FTX relationship with Alameda, attempting to distance himself from key decisions, which we all know is not true, according to the testimonies of their execs, Bankman Freed pinned the blame on Gary Wang for creating a function that allowed Alameda to trade funds on FTX that it didn't have and claimed he wasn't entirely sure what happened. Oh, I don't know what happened with Alameda's line of credit, which ballooned to billions in the collapsing crypto market of 2022. In his testimony, he also blamed Caroline Ellison for not focusing on risk management. How are you going to blame your ex? That's just why. Anyways, he didn't believe he defrauded FTX customers by taking over eight billion worth of their funds. Instead, he framed it as Alameda just borrowing from the exchange. Yeah, borrowing from investors without their permission is called stealing. I just wanted to point that one out. Now, Max Kaiser responded to this attorney who spoke out and he said, this is tough talk when it comes to the minor league, the drug Adderall ish coiner like SPF, but where's all the bravado when Jamie, the tapeworm diamond, the best the CEO, JP Morgan Chase, gets caught manipulating markets and defrauding the public again or the next crooked Warren Buffett bailout? You talk a good game, but you're no different than SPF. And I think Max makes some excellent points. The big dogs get away with this all the time, of course, but clearly there's levels to this ish, if you know what I mean. Now, what are your thoughts surrounding this case? How do you think this will likely continue to play out in March as they continue with the court trial facing more charges he's up against? Let me know, fam. I appreciate that. I got some very bullish predictions to share with you. In fact, I'm going to be sharing with you the top five Bitcoin price predictions for twenty, twenty four and beyond. Bitcoin continues to circle its highest levels in 18 months. Again, the annual high for the year is currently almost thirty six thousand dollars, but let's dive right into the predictions. First and foremost, Matrix Port predicts forty five thousand within two months. So two months from November would mean January. I could definitely see Bitcoin hitting forty, fifty thousand easy peasy before the halving. But let me know your thoughts. Now, that prediction came from Matrix Port, the crypto trading firm founded by Jihan Wu, himself a founder, a Bitcoin mining giant Bitmain in a blog post in late October. Matrix Port doubled down on a forty five thousand year end price targets. That's the Christmas target. Let's go, Santa, which is initially revealed in January. It was based on a handful of in -house models with Matrix Port also successfully predicting Bitcoin's October gains. Quitting them here, Bitcoin is breaking above the July thirty one five resistance showing that forty five is achievable by the year's end. And again, I think that's a very doable target. But let me know your thoughts. The next prediction comes from Bitcoin. They say new all time high pre halving. I also agree with that, especially if we get the ETF approval. I would anticipate above and beyond sixty nine thousand before the April twenty twenty four halving, but that's only if you know what I mean. We'll see how this plays out. The halving is a watershed moment. We all know the blocks of subsidies get cut in half for the miners in September. Bitcoin stated Bitcoin would surpass its current sixty nine thousand peak before April of twenty twenty four. Now they shared here, no, Bitcoin is not going to top before the halving. Yes, it's going to reach a new all time high before the halving. No, Bitcoin is not going to one hundred and sixty G's because the magnitude of every pullback is large. This means it'll peak after the halving in twenty twenty four. And yes, the target price is around two hundred and fifty thousand dollars. I love that. That's right in alignment with Max Keiser's short term target of two hundred and twenty thousand. Now, they also shared this chart. Both the all time high and the post halving two hundred and fifty thousand target came courtesy of the Elliott Wave theory charting, which we cover commonly here in the show with Bitcoin mimicking the behavior from the previous cycles. And you can see their estimation of how the Bitcoin price is likely to rise is coming directly from Bitcoin. Now, Bitcoin did, however, make room for a total of four pullbacks. As outlined in this chart, you can see one, two, three, four. Before we hit the peak at five, quoting them here, there will be one pullback before breaking to a new all time high, followed by another pullback at around one hundred and twenty five thousand. Additionally, there will be two more pullbacks after the halving, which are not demonstrated here. Now for the next one, three Bitcoin price models, one hundred and thirty thousand dollar target zone. That's right. Let's freaking go. Quoting CryptoCon here, I'm prepared for the lower prices, but the stars are aligning at one hundred and thirty for the Bitcoin this cycle. And the concept also hinges on the halving events and the next peak should come around four years after the sixty nine thousand dollar move in November of twenty twenty one. We all know everything is cyclical and Bitcoin every four years driven by the halving. Now the one million dollar question. How about a one million dollar Bitcoin price target leads us to Kathy Wood of ARK Invest, the CEO and chief investment officer, has joined former BitMEX CEO Arthur Hayes in doubling down on her seven figure price prediction when this could happen, understandably up for debate. But changing macroeconomic tides have emboldened what remains a daring Bitcoin price prediction. In October, Hayes maintained that the path to a one million dollar coin was in full effect thanks to the macro reality. Now quoting BlockWorks on the Margin podcast right here, this was shared actually on an interview. If people lose faith in the bond market and this fiat artificial construction we have created over the past 80 to 100 years, this global economy and how it has been structured, if we lose confidence in that, then the amount of money that's going to be looking for an alternative is going to be something that we have never seen before. He shared over in an interview and speaking of Kathy Wood, she was just on Bloomberg and here's what she shared when she was asked, what's a better hedge against inflation? Is it Bitcoin or is it gold? And very boldly she said, Bitcoin hands down, hands down is a hedge against both inflation and deflation. Yes, so is gold, but Bitcoin is digital. And if you look at the incremental demand we are going to see, but gold already has its demand. You know, it happened already, right? Bitcoin is new and institutions are barely involved in the young people would much rather prefer to hold Bitcoin than hold gold preach. So it's interesting that both gold and Bitcoin are hedges against deflation, but Bitcoin has been doing better recently preach and Bitcoin naturally will consider outpacing gold. I think it was Max Kaiser who said for every dollar, the Bitcoin price action increases. I'm sorry for every dollar, the gold price increases expect Bitcoin to go up by over $20 meaning it will continue to outpace gold by a factor of 20. Let me know if you agree or disagree fam. And we spoke about Kathy Wood and her a $1 million price prediction. In fact, she even has a bullish case scenario by the year 2030 of Bitcoin hitting $1 .48 million. Keep that in mind. But now let's discuss Arthur Hayes, the BitMEX founder predicting Bitcoin price to rally 2700 % taken us to $1 million per coin. And then we'll dive into the latest updates with the likelihood of the spot Bitcoin ETF being approved this month in November. According to the major asset manager, here we go. BitMEX co -founder Arthur Hayes is doubling down on a prediction. The Bitcoin is destined to reach the seven figure price. Hayes says that a monetary policy tool known as the yield curve control will act as the catalyst for Bitcoin to reach that 1 million Mark, a gain of around 2 ,700 % from the current level. Send it, let's go. Central banks use the yield curve control to influence the longterm interest rate level by buying longterm bonds as much as possible to prevent the rate from rising above the intended target. And according to Hayes, the entire U S government is enabling a loose monetary policy environment. Even as the fed continues tightening. Now the BitMEX founder first predicted seven figure Bitcoin earlier this year in March in that essay, which I covered here on the show. And at the time, he argued that China's loosening of his monetary policy would trigger Bitcoin to explode to $1 million per coin. Hayes also says the decision by the fed mid this week, uh, pause the rate hike interest rate suggests it's time to pump it up, pump, pump it up. And according to the BitMEX founder, the feds decision would trigger other central banks to also ease their monetary policy. Quoting him here over to you, BTC, let's go. I shall increase the pace of my rotation out of treasury bills and into Bitcoin and ish coins. Now that the fed had paused over two meetings, every other central bank has cover to print expect massive stimulus coming from China, Europe and Japan. So there you have it coming directly from crypto Hayes. Just blaze. Let's get it now for the moment you have all been waiting for. Let's dive into our featured story of the day and discuss a Bitcoin ETF being approved this month in November. And what would that mean for the crypto market? Let's break this baby down. We have Steven McClurg, the chief investment officer at Valkyrie investments has put forth a strong indication that a landmark approval from the U S SCC for a spot Bitcoin ETF can transpire by the month's end. Send it and let's go. The approval of the spot ETF is currently one of the biggest factors influencing the Bitcoin price as well as the entire crypto markets trajectory. You can say that again now alongside the financial giants such as black rock, the world's largest asset manager fidelity, which is about half the size of black rock. We got Vanek, we got Invesco, we got Valkyrie, one of the companies at the forefront of the battle with the SCC over the spot ETF. We also have grayscale. Don't forget the GBTC product. We have the firm managing to Bitcoin related ETFs at the moment. Now Valkyrie Bitcoin and ether strategy ETF and the Valkyrie Bitcoin miners ETF with a combined asset value of 51 .1 million at this time. And they also have active filings for spot Bitcoin ETF. Now McClurg, citing the latest amendments to Valkyrie spot, Bitcoin ETF app anticipates the SCC will issue another series of comments within the next weeks, potentially setting the stage for the approval of the 19 before rule changes by the end of the month. Send it quitting him here before anything else happens, we get a second round of comments and I believe we'll probably get those comments in the next one to three weeks. A late November approval likely means a February launch. So note that if we get the green light in November, it means the Bitcoin ETF would likely launch a few months later in February, which would be right in time again for the Bitcoin having. Now he also shared with ETF .com this interview suggesting a timeline for the SCCs response to these crucial amendments. He also argues the SCC can wait until January to ask the applicants to put the final touches on their S one filings. That's the other alternative scenario. Now Nate Geraci, host of the ETF prime pod explain that Valkyrie CIO suggests SCC can approve the 19 B fours exchange rule changes for the spot Bitcoin ETFs by the end of November and then the S one registration statements early next year. These don't have to be approved at the same time, so keep that in mind. Though they need both for the ETFs to begin trading. Now in recent weeks, the SCC has been actively communicating with ETF apps and disclose that the agency is carefully scrutinizing all spot Bitcoin ETF apps. The focal points of the SCCs inquiry have pertained to the comprehensive explanation of various risk disclosures, methodologies concerning index usage and net asset value computations, environmental risk inclusions, as well as detailed insights into custodial practices. Recent amendments to filings by entities such as BlackRock and VanEck have been augmented to eludicate how initial fun seating could be conducted and also note that BlackRock already began seeding their ETF back in October, which was last month. This is something that Larry Fink their CEO has already disclosed. Now because of that, industry experts remain cautiously optimistic. We have Matt Hogan, the CIO of bitwise asset management, highlighting lingering concerns, quitting him here. Market manipulation is still a potential stumbling block. Custody isn't a wrap, so there is still a lot of work to do, he stated. Now the anticipation isn't purely speculative. The man forecast suggests substantial interest. McClurg envisions about 10 billion bucks flowing into these products within the first one to two months post launch. While bitwise projects 50 billion in inflows within the first five years. I think that's extremely conservative. I could see trillions of inflows within five years, but hey, to each their own. Valkyrie revised its spot Bitcoin ETF filing October 30th a few days ago with an S1 registration statement submitted to the SCC outlining the Valkyrie ETF. The proposed fund shares are intended to be listed under the ticker BRRR on the NASDAQ stock exchange. Valkyrie updated their app and a part of a wider trend as several firms have similarly refiled their spot ETF apps signaling a concerted effort toward regulatory compliance and optimism for approval. Bloomberg ETF analyst, James Saferard identified these amendments as positive signals for progress and possible imminent approvals. Let me know which you think will get the green light first from the SCC. We all know it's imminent. We all know it's going to happen, but when is it going to be November? Is it going to be December? Could it be January? Could it be March? Let me know in the live poll we have on the screen. I have some bonus content to share with you before we dive into the live Q and A. This is from jury and Timur. Why is this so relevant? He is the head of macro at fidelity fidelity being a four and a half trillion dollar asset manager. He's the one who predicted a billion dollar Bitcoin price by the year 2038 and here's something he just recently shared. He shares some incredible threads I want to share with you. Bitcoin is volatile, but it's scarcity and adoption curve create the potential for it to be a high powered hedge against monetary shenanigans. I think of it as exponential gold and in this chart it shows you Bitcoin going past $1 .2 million per coin. That's pretty sexy. Gets me excited as he shares here. One of the attributes of Bitcoin is that it's a network asset and as such it's adoption curve has followed the typical S curve shape. We have seen many of the S curves throughout history and he continues here in the thread. The question, where is Bitcoin's journey along that S curve? A network assets value is driven by its adoption curve, so the slope of that curve matters a lot. Makes a good point. And when I first went down this rabbit hole in late 2020 it's adoption curve, which I defined as the number of non -zero addresses was very steep. It resembled the S curve for mobile phones during the 1980s and the 1990s, which was pretty promising. I'm going to read you a few more now. However, as the real rate narrative changed from dovish in 2020 to hawkish in 2022, the adoption curve flattened and it is now closer to the slope of the internet adoption curve from the two thousands and it has not made much progress since 2021. Now we also had some other threads which are very valuable. I'm just going to read the lead part of it with Bitcoin moving up. Once again, will its adoption curve accelerate as it did a few years ago and how does the macro trend on rates affect it? There's some very insightful data. If you want this, check the show notes below the video in the description. I'll include all of this. And he had one more good thread continuing the discussion from the recent thread on Bitcoin. I highly recommend you check this out because again, this is the head of macro over at Fidelity, one of the world's largest asset managers. So there you have it, my crypto fam and don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in our live Q and a, and I look forward to seeing you on tomorrow's episode.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1449: BlackRock Bitcoin ETF Will Send BTC Price Parabolic!
"In today's show, we'll be discussing the latest Bitcoin technical analysis as we just broke out, reaching an annual high. And also, traders confirm a target of up to $48 ,000. I'll be breaking this down for you. And quoting the high priest of Bitcoin, Max Keiser, Bitcoin that monetizes war, violence and hate with unconfiscatable property that obviates and disintermediates the need for coercion of any kind per each. Also, this just in, MicroStrategy bought 155 more Bitcoin for $5 .3 million. MicroStrategy now holds 158 ,400 BTC worth over $5 .4 billion, meaning Michael Saylor's company is now almost a billion dollars in profit. Let's go. Also in today's show, Arthur Hayes issues a warning on US banking system, says Bitcoin loves one of the possible outcomes of a banking crisis. I'll be breaking this down for you. As well as prosecutors say that Sam statements as the trial has wrapped up, I'll be sharing the latest updates. We'll also be discussing how soon can Bitcoin hit 150 ,000 because another major asset manager, Bernstein, who has over a half a trillion in assets under management, is anticipating this $150 ,000 price target. I'll be breaking down their timeline. We're also going to be discussing BlackRock's Bitcoin ETF might have the trading support of heavyweights like Jane Street Jump and Virtu and quoting Samson Mao. Don't be surprised when Bitcoin goes to $1 million post -Spot Bitcoin ETF approval, the market cap doesn't increase linearly. There is a multiplier effect. I'll be breaking down the math of how the Bitcoin price is likely to rise to $1 million per coin after the approval of the Spot ETF. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show.
Daily Crypto Report
"AI related tokens down on Biden's EA." Nov 01, 2023
"It's 8 a .m. Eastern, November the 1st, and this is your daily crypto report. Bitcoin is down slightly at $34 ,405, ETH is down slightly at $1 ,798, and Binance Coin is down slightly at $224. Well, AI -related tokens in the crypto markets have seen declines of 4 to 7 percent in the wake of President Joe Biden's executive order on AI addressing potential benefits and risks. The order aims to ensure responsible AI use while addressing concerns such as fraud, discrimination, and national security threats. Critics say it could stifle innovation and impose burdensome reporting requirements, comparing it to public company reporting for startups developing large AI models. The order's success will depend on executive branch agencies and potential legal challenges. Well, Bruno Brock, the founder of blockchain protocol Oysterpearl, has been sentenced to four years in prison for tax offenses. He pled guilty in April of 2023, admitting to causing a tax loss of over $5 .5 million. He was also ordered to serve a one -year supervised release. He initially faced charges in 2020 from the IRS and the ICC with assistance from the FBI and Commodities Future Trading Commission. He used a coin mixer to hide the true destination of crypto on the blockchain, then transferred funds to family members, friends, and himself. He made millions from an initial coin offering of the PRL crypto in 2017, but didn't report the income accurately, falsifying tax returns, and then using the $10 million from the proceeds to buy multiple yachts, real estate, and home renovations. He also admitted to minting new PRL tokens in violation of promises made to investors. Well, police in Taiwan have busted a crypto -related money laundering operation involving $324 million USDT. The case is linked to an investment fraud scheme uncovered in October of last year. The investigation revealed that victims were instructed to transfer funds to dummy accounts, which were then funneled to overseas crypto exchanges or individual traders. Police have made several arrests in the case. And finally, DeFi protocol ONIX has suffered an exploit resulting in a loss of more than $2 .1 million. The attack was on ONIX's code base involving an integer rounding issue and a flash loan. The attacker borrowed a substantial amount of ETH through a flash loan, exchanged it for Pepe tokens, and manipulated the exchange rate by donating them to a specific pool. Due to the precision loss, the attacker could withdraw more than the underlying asset by burning fewer shares. The attacker then transferred 700 ETH to the crypto -mixing service Tornado Cash. Well, that's all for us today. Visit us at dailycryptoreport .io and listen to us everywhere else you podcast under Daily Crypto Report.
Coin Stories with Natalie Brunell
A highlight from News Block: What's Driving Bitcoin Rally (Will It End?), Billions to Flow into ETF, SBF Testifies, Bitcoin White Paper turns 15
"Welcome to the CoinStories news block. I'm Nathalie Brunel and in the span of just 10 minutes, roughly the same time it takes to mine a new Bitcoin block, I'll provide you with concise, insightful updates on Bitcoin and the global financial landscape so you're well informed on the week's top stories. Everything you need to know in one place in one block. Let's go. All right, let's get into another eventful week as Bitcoin's price once again dominates the headlines. At the top of the month, we talked about the historical pattern of October and Bitcoin certainly delivered this October. It's up more than 25 percent in the last two weeks alone and more than 100 percent in 2023. So many people are asking, what's behind this latest rally? Well, some analysts say it's the market preparing for a spot Bitcoin ETF approval, while others are saying it's bigger than that and pointing to the U .S.'s dire return and was asked his thoughts on why Bitcoin's price has doubled this year. And he replied, prepare for the halving. The halving is coming, referring to next April when the amount of Bitcoin issued every block will get cut in half. But whether it's the halving, outbreak of war, stickier inflation or investors worried about the sustainability of the debt or a potential ETF, it's safe to say there is a confluence of developments right now that together are forming a strong tailwind for Bitcoin and investors are taking notice, including institutions. According to a recent report from analysts at JP Morgan Chase, they believe that this recent outperformance has been driven by increased institutional demand. The report chose CME Bitcoin futures volumes as a good metric of this demand because institutions prefer to trade these futures products on a highly regulated trading venue like the CME. And those trading volumes have ballooned. CME open interest, which refers to the number of unsettled active Bitcoin futures contracts, hit a record high last week, eclipsing volumes seen even at the peak of the last bull market in 2021. In fact, CME open interest surpassed more than 100 ,000 Bitcoin for the first time in history. Some more metrics that support JP Morgan Chase's claim can be seen on chain in the Bitcoin spot markets. Addresses holding at least $100 ,000 and at least $1 million have seen large increases over the last two weeks. So big investors appear to be accumulating. And with a spot Bitcoin ETF seemingly around the corner, demand that could flow into this scarce asset could be significant. Multiple firms have attempted to estimate exactly how much money could flow into Bitcoin after a spot ETF is approved and how that would boost Bitcoin's price. Recently, Galaxy Digital released a report estimating that a minimum of $14 billion would flow into an ETF resulting in the Bitcoin price appreciating around 75 % in its first year. Their model further predicts that $36 billion could flow into the ETF by its third year. The analysts say their estimates are actually conservative, given they made the assumptions that only 10 % of large brokerage firms and registered investment advisors would choose to allocate just 1 % into Bitcoin and kept those assumptions unchanged for the next three years. But the other dynamic that could be contributing to the recent Bitcoin price action is related to the options market. Bitcoin options are financial contracts that allow someone to bet on the future price of Bitcoin, giving them the choice to buy or sell Bitcoin at a set price on a certain date. Investors use options to hedge their positions or to make leveraged bets on Bitcoin's price movements. And this week, there are interesting dynamics happening in the options market. For starters, open interest on options volumes has surpassed record levels. Some analysts have pointed out that options dealers are currently positioned in a manner where if Bitcoin's price keeps climbing, for every 1 % move upwards, these options dealers will need to buy a lot of spot Bitcoin to cover their positions. Think $20 million per 1 % that Bitcoin climbs. Now, this could cause the price to rise even more rapidly. And we actually saw this dynamic in the options market play out when Bitcoin crossed the $30K mark and exploded quickly to $34 ,000. Options dealers were forced to buy Bitcoin to hedge and cover their bets. But remember, leverage works both ways. And if Bitcoin's price takes a breather, these options markets could also accelerate any decline as well. Now, one interesting development that has happened in the overall macro market over the past month is that gold and Bitcoin continue to outperform other asset classes like stocks and bonds. Gold recently broke through its critical resistance level of $2 ,000 per ounce just as Bitcoin blasted through the $30 ,000 level. And that's at a time when equities and bonds are both down on the month. Many are viewing this recent outperformance as evidence that investors are beginning to finally view Bitcoin as more of a safe haven asset in the face of rising global economic uncertainty. This sentiment was echoed by billionaire investor Stanley Druckenmiller in a recent interview with billionaire trader Paul Tudor Jones when they discussed the problems in the current traditional financial system, including the unsustainable nature of government spending and rising debt levels. After explaining how the numbers absolutely don't work, it's a fantasy, when describing the debt, Druckenmiller said, quote, so I like them both, referring to gold and Bitcoin. I don't own any Bitcoin to be frank, but I should. With the government on track to run a $2 trillion deficit this fiscal year, inflation still running hot and public debt increasing to more than $33 .5 trillion, investors are turning to harder forms of money. They see the writing on the wall that the government will have to debase the currency to keep the fiat system afloat. But despite Bitcoin being a potential solution for everyday Americans to protect their savings from debasement, some politicians continue to choose to remain ignorant and are fighting against it. This past month, we've seen anti -Bitcoin rhetoric heat up with a few prominent politicians, placing the spotlight on crypto's overstated use in financing terrorist operations. It began with an article from the Wall Street Journal that falsely claimed terrorist groups, including Hamas, received tens of millions of dollars in funds via digital assets. However, multiple on -chain analysis firms, including Chainalysis and Elliptic, refuted the journal's But that revelation didn't stop politicians from using the erroneous figures to ramp up pressure in DC to crack down on Bitcoin. In a Senate Banking Committee hearing last week, crypto finance terrorism dominated the discussion. Senator Sherrod Brown, chairman of the Senate Banking Committee, said that the panel will quote, crack down on the use of crypto to fund terrorism and evade sanctions. Meanwhile, U .S. Senator Cynthia Lummis of Wyoming and Representative French Hill of Arkansas sent a letter to the Department of Justice to quote expeditiously investigations conclude and reach a decision on criminal charges against Binance and Tether concerning the possible aid to terrorist organizations. This was notable for two reasons. One, both Hill and Lummis have historically been major supporters of Bitcoin and two, they specifically named Binance and Tether as businesses to investigate for alleged illicit activity. But there were some senators in the hearing who pointed out the said these figures are disputed and per independent analysis reported this week could be overstated by 99 percent. Now, nearly two weeks after the article was published, the journal has finally included a short correction at the bottom. It goes to show the power of social media and how when an industry unites like the Bitcoin community did, its collective voice grows stronger. Turning now to an update on the FTX trial, where SBF took the stand in his own defense. SPF was grilled with questions around just how separate FTX and SPF trading firm Alameda Research really were. Remember, Alameda traded on FTX alongside millions of retail customers. And a key moment came when SPF was asked why he sent tweets and emails saying Alameda Research played by the same rules as every other FTX account, when in reality, Alameda had special privileges like being allowed to run a negative account balance and withdraw billions of dollars via loans. In response to the line questioning, SPF replied, I'm not sure. SPF's testimony so far can be summarized as pushing all of the blame on his inner circle, like former FTX co -founder Gary Wang and former CEO of Alameda Research slash ex -girlfriend Caroline Ellison, all the while portraying the image that he was a well -intentioned entrepreneur who was just in over his skis. SPF blamed Ellison for the pushing strategies that caused Alameda tens of billions of dollars in losses. He tried to paint her as incompetent and emotional. Meanwhile, Ellison's own testimony made it clear that she acted at the direction of SPF and verbalized repeatedly to him that she didn't feel qualified to run Alameda. Side note, for anyone interested in this case, you can read Michael Lewis' book, Going Infinite, which dives into the backstory of the whole company and let me just say, Ellison is one of the most fascinating characters. SPF's testimony will continue this week and we'll make sure to keep following it for all the developments. Finally, we can't end this episode without acknowledging that this week marks the 15th anniversary since the Bitcoin white paper was published. Bitcoin represents the promise of separating money from the state and removing the ability for any person or group to manipulate or control it. I think Satoshi Nakamoto describes it best. As a new form of money that is not tied to any government or bank, Bitcoin represents a revolutionary step forward in the evolution of financial systems. It's been 15 years and the Bitcoin ecosystem has grown immensely since that nine page white paper was published on an obscure mailing list. But the Bitcoin revolution is just getting started. That's it for the news block, your weekly Bitcoin and economic news update. I'm Nathalie Brunel. Make sure you're subscribed to Coin Story so you never miss an episode. This show is for educational purposes and should not be construed as investment advice. Until next time, keep stacking.
The Breakdown
A highlight from Bitcoin Up 100% in 2023, Hits Pre-Luna Crash Prices
"Worth noting is that the SEC is under no obligation to approve anything before January 10th. That could be a long time for this narrative to hold and so the question is can inflows continue in the meantime or do we reset to some new level? What I do know is that the energy is starting to flow back into the space. Big moves coupled with powerful narratives like those being offered up by Larry Fink are capturing attention even outside this community and that is the recipe for the very very very earliest beginnings of what will in time become the next crypto bull. Welcome back to The Breakdown with me, N .L .W. It's a daily podcast on macro, bitcoin and the big picture power shifts remaking our world. What's going on guys? It is Tuesday, October 24th and today we are talking about, well of course, we are talking about bitcoin's crazy price surge. The bull market is back whether you're ready or not. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly breakdown pod. Hello friends! Well yesterday, as you know, we did a little bit of an October is Back episode but my goodness was yesterday a breakout. Today we are going to talk about what the heck is going on and we're even going to extend it a bit into traditional markets as well. I think a very good summary of the sentiment comes from Blockworks Jason Yanowitz who tweeted this morning, in 24 hours crypto twitter flipped from bear market angst to bull market FOMO. There is no middle ground. So let's start with what actually happened. Monday's bitcoin price action was volatile, lively and energetic and most importantly it was positive. Late on Sunday evening as you heard yesterday, bitcoin had pushed through the key psychological level of $30 ,000. By 9 am, bitcoin had already spent the past 12 hours trading above that line but had fully retraced the early morning price action. Once traders were at their desks and the opening bell was rung on wall street, bitcoin began to take off. Both the morning and the afternoon sessions each saw a respectable 1 .6 gain with bitcoin closing out normal trading hours at around 31 ,700. All by itself, that would have been the highest daily close since June of last year, narrowly surpassing previous bear market tops in April and July. However, one of the things that makes bitcoin different is that of course it never closes. And when the stock market shut down, bitcoin clearly wasn't done. At 6 pm, bitcoin took off in one of the largest god candles we've seen over this bear market. As you heard yesterday, many had noted that $32 ,000 would be a significant level to test for a breakout and that thesis turned out to be entirely correct. Once the price broke above $32 ,000, it moved violently upwards with bitcoin gaining around 7 .5 % in just minutes. That move ended up just shy of $35 ,000 before retracing back to around $33 ,000. Notably, the positive price move continued into the late evening rather than breaking down. The $35 ,000 level was tested a second time around 1030 with every dip being bought along the way. Overnight on Monday, bitcoin seemed to hold on to strong support at the $34 ,000 level after one of the more remarkable days of price action in a long time. Bitcoin is now back at levels not seen since May of last year when the collapse of the luna ecosystem first plunged crypto markets into what would become a long crypto winter. Now, there was a lot of surprise at this move. Crypto news aggregator Tier 10K said, Ayo, what's going on? Also, there was lots of talk about the breakout. Bitcoin Jack wrote, Clearing $32k is significant and finding support sets up some range that I expect to grind higher until shorts run out of money again at which point price continues, supported by spot demand. 10T's Dan Tapiero had an even simpler explanation. Bitcoin, he wrote, melts all faces, but especially boomer naysayer faces. And Dijen Spartan posted a classic copy pasta from recently arrested Suzu. One of the fastest ways to talk to yourself as a crypto pleb is to ask, what's the reason for the bitcoin pump today? Its path to 1 million is preordained. On any given day, it needs no reasons. Now, of course, clearly the biggest narrative driver for recent price action has been the approval of spot bitcoin ETFs shifting from a hope into a firm and perhaps even imminent reality. On Monday morning, Davis Polk finance lawyer Scott Johnson noted a few key details from most recent BlackRock filing, which had to that point gone unnoticed. Specifically, the BlackRock ETF had received a QSIP, which is an ID number used in electronic trading and asset management systems. They had also disclosed a plan to seed the fund with assets sometimes this month. The seeding isn't expected to be a massive amount of bitcoin buying, but rather a nominal amount of a few million dollars to ensure the fund can trade smoothly on launch day. Now, a little later, Bloomberg senior ETF analyst Eric Balcones pointed out that the BlackRock ETF had been assigned a ticker symbol and listed in the DTCC's trade clearance system. Once the fund is launched, it will trade under the ticker IBTC on the Nasdaq exchange. Balcones tried to tamp down excitement, saying all part of the process of bringing ETF to market. But man, having that ticker be real definitely made this whole thing a lot more real to everyone watching. Today's episode is brought to you by Kraken. For far too long, the whole financial system has been standing still. Too slow. Only on for certain hours. Overly designed for some types of people, but not for others. Crypto, at its best, represents progress. It asks the question, what if? It invites people in instead of leaving them out. It's on 24 -7, 365, and moves at the speed of real life. Not everyone believes it. We've got our fair share of detractors. But that's the way it always is when you're building something new. Kraken is a crypto company that has been through the highs and lows of the industry, facing forwards towards progress throughout. And now they're inviting us to see what crypto can be.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1436: Spot Bitcoin ETF Will Send BTC Price to $1,000,000
"Welcome everybody to the number one daily Bitcoin pod. In today's show, I'll be breaking down the latest Bitcoin technical analysis as Bitcoin climbs back above $28 ,600. I'm also going to be sharing with you a cycle peak between $200 ,000 and $250 ,000 per coin. Also a fun fact, 13 years ago today, the price of Bitcoin topped 10 cents and it's now up 20 million percent ever since. So a good reminder, when in doubt, zoom out. Also breaking news, BlackRock, the world's largest asset manager, just filed an updated spot Bitcoin ETF app after the SEC feedback. So Gary Gensler, now it's your move. Also $800 billion standard chartered bank to offer Bitcoin custody for institutional clients in Dubai starting first quarter of 2024. Send it. Also Max Kaiser says, people always ask me when Bitcoin $220 ,000 and why? What's happening in the me and Eurasia will crash the global fiat money central bank Ponzi scheme. So the timing is now $220 ,000 is a short term target. Bitcoin is immortal. You can't stop it. Ponzi schemes are fragile and always collapse preach. Also in today's show, we'll be discussing Bitcoin's long -term investors now own over 76 % of all the Bitcoin for the first time in Bitcoin history. Shout out to all my long -term hodlers, also grayscale files for a new spot Bitcoin ETF on the NYC, ARCA, as well as Tesla earnings are revealed and their Bitcoin bags are untouched as the firm splashes out on AI. We'll also be discussing Elon Musk and Mark Cuban teaming up to contest the SEC trial strategies. I'm also going to be sharing with you a $1 million price target as a result of the approval of a spot Bitcoin ETF within the next three years. I'll be breaking down this timeline. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show.
Ethereum Daily
Scroll Mainnet Goes Live
"Welcome to your Ethereum news roundup, here's your latest for Tuesday, October 17th, 2023, Scroll Mainnet goes live, Reddit sunsets its Community Points program, and Fileverse raises a 1 .5 million dollar pre -seed round, all this and more starts right now. The Give ETH Quadratic Funding round is now live, if you'd like to support this podcast please consider donating by visiting ethdaily .io forward slash GIVE. Scroll an EVM equivalent ZK rollup is now live on Mainnet and open for all users, users can bridge from Ethereum Mainnet to Scroll using the native bridge, ecosystem bridges including Orbiter Finance, Rhino .Fi, and L2 Finance also release support for bridging to Scroll Mainnet. Initial dapps available on the rollup include SpaceFi, SyncSwap, and Telly. The Layer 2 rollup offers bytecode level compatibility, allowing developers to seamlessly port their Ethereum applications without requiring a transpiler. The network offers low fees, faster speeds, and improved scalability. Developers are encouraged to interact with the open source codebase and participate in a 1 million dollar bug bounty program. Reddit announced its decision to discontinue Community Points by November 8th. Community Points are ERC -20 tokens on Arbitrum Nova that were earned by users for their involvement in subreddit communities and were used for voting, tipping, and acquiring memberships. Reddit cited regulatory concerns as a reason for the shutdown. After November 8th, users will no longer see Community Points on Reddit or in their Reddit vault. Any remaining points in Community Tanks will also be burned by the end of the year. Special memberships will also be phased out. Since the announcement the price of Moon, the native points for the r -cryptocurrency subreddit, has plummeted by over 80%. Community Points were initially introduced in 2020 and later migrated on -chain to Arbitrum Nova in August of 2022. And lastly, Fileverse, a file sharing platform, raised 1 .5 million dollars in a pre -seed funding round. Investors include Gnosis, SaveGalaxy, and Arweave. Fileverse provides a smart contract for managing on -chain files, including functions like uploading and sharing. Users have access to complete file management, including privacy configuration, and the option to make files accessible via IPFS, all while retaining full control over their data. In other news, the first Layer 2 Coordination Call, coined as Roll Call, will take place on Wednesday, October 18th at 14 UTC. The call aims to support Layer 2 innovation by providing a platform for roll -ups to coordinate on Ethereum standards. This has been a roundup of today's top news stories in Ethereum. In the meantime, you can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you tomorrow.
The Bitboy Crypto Podcast
"$ 1 million" Discussed on The Bitboy Crypto Podcast
"If I had a million dollars to put into crypto, this is where I would put it. And today, Rodney is going to break down my strategy. Or tell him why he's absolutely incorrect. So let's see what that portfolio is going to look like. All right, first off, you've got to start with Bitcoin. Rodney, all right, I got a million dollars. If I get about 10 Bitcoin at today's price, it's going to fluctuate. We got about $275,000. Before we go further, do you like Bitcoin making up about a quarter of the portfolio here? I love big daddy Bitcoin, but I would actually invest a little more because honestly, it's the safest, safer play right now, in my opinion, crypto lives and dies on Bitcoin. So I would actually do half of that in Bitcoin. Okay, okay, so he booked about 50%. I'm at 27% here. All right, next up on the list, I am getting 100 Ethereum. Today's price is going to be around $160,000. So again, you know, roughly 16%. What do you feel about that allocation? I actually do love Ethereum for our number two, obviously with my Bitcoin being more my portfolio, it'd be a little less. But I do love Ethereum because there's been a lot of East killers, but no one has killed the king just yet. And going into the next bull run, everyone's going to be building on Ethereum. I'll do nice 100,000. All right, so Rodney, you're already 60% down. Okay, all right, well, my next coin, I'm getting into Cardano. Of course, I don't know how I got up to this number, but 690,420. The math worked out, it was roughly around 175,000. Besides Bitcoin, besides Ethereum, Cardano is my favorite altcoin. What are your thoughts on Cardano? I do like Cardano, especially because I think Charles Hoskinson is a great representative for cryptocurrency. I mean, he went ahead and spoke in front of Congress with the CFTC. I think he did a good job, but I wouldn't have it up there so high. I do like Cardano on my top 10, but I definitely only do about $50,000 in Cardano. Well, I'm personally bullish on Falconers. And so because he Falcons, I'd have to triple that amount at least. All right, next up, I got also one of my favorite alts outside of the top five, top 10. This is my favorite altcoin. I'm talking about Chainlink. I have a Chainlink fence in my backyard. I have my 3.7 Chainlink, but if I had a million dollars, I'd have to have at least about 18% is going to be inside some Chainlink. What do you feel about 25,000 Chainlink? I absolutely love Chainlink and I think that's a great addition to your portfolio. I wouldn't put so much of it. I don't have that much money to work with here, but I think around another 50K investment is good for me. Okay. All right, for those keeping track, Rodney's at about 700K. Next up, we got a controversial altcoin. I'm just going to say it like it is. It's tied up with the SPF drama, the FTX drama. They call it a VC coin. It has been turned off multiple times. Do they turn it on in a Discord? I don't know, but I do know I have plenty of NFTs on it. I've interacted with the chain. I like using Solana, so I'd have 3,500 Solana. That comes out about 90K. I think Solana is great, but it wouldn't be in my top 10. But I do think it could be the biggest comeback story of cryptocurrency so far, especially with all the Sam Bagman freedom made a research ties. But I would take that out of here and I'd put BNB because I think BNB, although going through some harsh regulatory scrutiny right now, I think it's going to be one of the big winners of the next bull run. So you got 300K left and you go with BNB. Yes, 100K to BNB, baby. Come on, CZ, pump my bags. If you say so. Alright, next up is going to be my favorite Metaverse play. I think I need some Metaverse exposure if I'm going to have a million dollars in a crypto account here. So my choice, you know, we have Sand. Sand is a good choice. We also have Mana. Mana is teaming up with Apple. I think it's a good choice. I am biased. I have mutinate. I'm getting 8 coin. I don't know. Again, I don't know how I came up with this number. $42,069. What do you feel about $50K worth of 8 coin? I say get 8 coin out of here. I'm not interested, not in my portfolio, babe. Metaverse, who cares? NFTs, maybe. I'm about to throw a banana at you like Mario Kart. That's messed up. But if I had to replace 8 coin with something, I'd go a little different and go with Avalanche. Now, unfortunately, Avalanche had ties to one of the biggest DeFi projects before in Time Wonderland. They ended up being controlled by a known scammer in the space. So I'm going to give Avalanche another chance. They just need some good decentralized applications, and I'm going to do $50K to Avax. Alright, so you like Avalanche? I love Avalanche. What about avalanches? I'm not a big fan of avalanches, but I don't snowboard, so I don't have to worry about that. Alright, we're getting towards the bottom here. Alright, and there's one coin. This is actually one I don't have exposure to. I'm kind of waiting for a local bottom. It's the H-Barbarian community, Hedera. People love this coin. I think it's a really, really good price at $0.05. I would get a half million H-Bar at $0.05. It's only $25K. I say own. I do like Hedera, but come on, I'm a mean coin guy. I got to throw in one of my favorite mean coin projects out there in Shiba Inu. I bet that's a big surprise for people. I was not expecting... I mean, you got $500K in Bitcoin. Yep, well, I got to gamble a little bit, you know? Yeah, we got to roll the dice a little bit. So I'm doing $50K in Shiba Inu. Alright, last but not least, I too want some mean coin exposure, but I'm not going to go with Shiba. I mean, I have a little bit of Shiba, full disclosure, but I think the real opportunity is in Doge. Doge right now is $0.06. The number I came to, again, I don't know how the math checked out here, but to get $40K worth of Doge, you get $666,000. That is a lot of Doge. Some people say this could potentially hit a dollar. That's an evil number, first of all, but a dollar is definitely possible, especially with Daddy Dogefather Elon Musk at the helm of X. I think that we're going to integrate some sort of payment system and cryptocurrency next, and I think Doge could be the front one for one of those cryptos. So I agree with you on Doge, and I'm going to spend my last $100,000 on Doge. Alright, let's have a little fun. I think Doge is going to have a little bit of an issue reaching a dollar. Last time it topped out at around $0.70. What is your price prediction for Doge's next bull run? I think it's going to top out, I'm going to go ahead and say here, $0.85. That's a tough one because I'm in the camp of just because something hit its all-time high before, doesn't mean it's going to happen again. But I just think with the power of meme coins, let's be honest, if you went on the street, asked 100 people what ETH is compared to Doge, I'm sure most would know what Doge is compared to Ethereum. So I do think a dollar is possible since we got so close last time. Alright, what do you think it hits? I think it's possible. I think it goes to $0.85. What do you think? I'd say a little more than a dollar. I think a dollar would be a good resistance point for it just because of the number, the whole number during the next bull run. So a little more than a dollar. I say $1.10. Alright Rodney, we're going to revisit this in 2025. Yeah, we'll see. We'll see. Well Rodney, we got eight coins here. What is on the periphery, on the bubble? This was the NCAA tournament. What is the 65th team? Well, I actually would add Solana. It wouldn't be my top 10 because it could be one of the biggest comeback stories. All the negative association with Almeida Research to Sam Bagman-Fried didn't really take away from its use case, in my opinion. And during the last bull run, it was one of the, quote, youth killers, which never happened. Now, aside from the network outages in their terrible phone, I think that they do have a lot of potential, especially with NFTs. So I say Solana. Alright folks, let us know in the comments which of our portfolios you would prefer and what is your ninth coin? What would you change? Always remember to smash the like button. It's bullish for the channel study show and subscribe to the channel if you like being here.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$ 1 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"And yeah, he laid out the case for integrating AI tech into the SEC surveillance scheme, but until now the agency's explicit use of the tech hadn't been made public knowledge. When asked by Senator Catherine Cortez, how he envisioned the SEC using AI, here's what Mr. Gensler had to share, so we already do in some market surveillance and enforcement actions to look for patterns in the market. It's one of the reasons why we've asked Congress for greater funding this year in 2024 to help build our technology budget for the emerging technologies. Now, while it shouldn't normal course of its operations, it is somewhat surprising that the agency hasn't issued a formal public declaration detailing its use. However, it's worth noting that aside from the requirement to report cybersecurity incidents signed into law by Mr. President Biden, I hate even saying this guy's name, in March of 2022, there don't appear to be any legal requirements in the US for agencies to publicly report the internal use of new tech. And based on the description given by Gensler himself, it's unclear exactly what form of AI the agency is using. However, the SEC filed numerous analysis reports on the use of AI and algorithmic trading by actors within financial markets. It would make sense for the agency to similarly employ machine learning algorithms capable of parsing large amounts of information for autonomous data. So there you have it, the show point 2.0 continues. Let me know your honest thoughts, fam. I already know how I feel. I'm not a huge fan of crypto regulation because I feel the regulators, they claim to have the investors' best interests at heart, but I think they have their central bankers and the people behind them that put them in power is best financial interests at heart. And to me, it couldn't be any more clear, but let me know what you think, chat, and I'll be reading your comments out loud towards the end of the show. Now let's discuss that the Bitcoin bull market is still intact. According to top crypto analysts, Dave, the wave, then we'll be discussing the latest regarding Bitcoin payment app service strike, as well as their CEO, Jack Mallers forecasting a million dollar plus Bitcoin price action. Then we'll dip into our live Q and A, but first, yeah, let's discuss the crypto market still being intact. Popular analysts as Bitcoin path towards a massive bull cycle remains intact. Despite the current market correction, synonymous analysts, Dave, the wave tells his followers on X, the Bitcoin appears to be in the midst of a consolidation period after rallying by about a hundred percent from its November, 2022 bottom. That's right. I believe the bottom is in at roughly 15,700 chat. The trader also says that the widely or weekly logarithmic moving average convergence divergence known as the LMACD indicator is still above the zero line, which had historically acted as a support for BTC. The LMACD indicator is designed to signal chases in an asset's trend, strength, and momentum. Typically an asset is seen as bullish once it crosses this LMACD zero line. Quitting the analysts here, technically not panic stations, but plain sailing. Number one, a consolidation of this year's move up. Number two, this year's move up near as long as the move down from the peak to low, low hodling. And number three, weekly LMACD consolidating to the zero line, still in the buy zone for investors as outlined here in this chart. And according to the trader, the indicators are not changing the broader case for a bull cycle, even though the market sentiment appears to have been flipping bearish. Quitting him again, you can listen to the scaremongers who play on the popular sentiment, or you can keep your eye on the rational technicals. I'd much rather keep my eye on the prize, which is the rational technicals personally. But what are your thoughts, chat? The analyst also says that the current Bitcoin correction is nothing out of the ordinary, considering Bitcoin's strong rally earlier in the year. Quitting him again, if people stop to consider that the Bitcoin price retraced a full 50% of its decline from the peak, then they wouldn't be too surprised to see consolidation here. It makes a great point because the all-time high is 69,000 and currently we're sitting just above 26,000. So looking at this chart, which you can see here in your screen, he appears to predict that the current correction can push the Bitcoin to the 50% Fibonacci level, which is around $23,000, which is 3,000 South from the current price action. The trader previously predicted that the king crypto will revisit its all-time high at around 69,000 sometime next year, followed by a deep corrective move to below 59 G's. So he's saying in 2024, expect Bitcoin to break out to a new all-time high, then to retest and go back down to 50,000. What are your thoughts, fam? Let me know if you agree or disagree with the crypto analyst, Dave the Wave. I personally feel that the Bitcoin price is likely to break out to a new all-time high sometime in 2024 as well. And I think by 2025, we reached the cycle peak for this particular new bull cycle, which I'm anticipating a multiple six figure price action. But what's your thoughts, chat? Let me know your predictions. I'll be reading them out loud here in just a little bit. Now let's discuss the latest and greatest coming from Jack Mallers, the strike CEO, along with his $1 million Bitcoin price prediction. This was news a few months back when Bitcoin payments app strike expanded to more than 65 countries from just three helping in to usher in mass adoption. That's right. The strike app, as we know, uses the Bitcoin lightning network, a secondary network for cheaper and faster Bitcoin transactions to offer global payments and cross-border money transfer services. The app now sports a brand new user interface. How many of you are currently using strike, fam? Let me know. Strike says the expansion will increase its total addressable market to almost 3 billion people. That's like roughly half the population of the entire world. So that's pretty big deal. Massive kudos to Jack Mallers for doing this, putting them here. Our end goal is to address the 7 to 8 billion people in every single country, said Manuela Rios, strikes vice president of the product in a new interview. Rios says the apps user new interface will feature a seamless onboarding experience, something she said the company has been working on for years, quoting her again, if you're in the United States, the apps are gorgeous. There is a really high bar for the, for their design, but unfortunately that's not the case when you download the apps abroad. So just FYI. And then a little bit later, maybe a month or two later, they expanded their send globally payment service to Mexico. Now, anyone in Mexico tuned into the show, let me know. I got a lot of love from Mexico. That's right. Strike a money app for fast, safe payments and Bitcoin announced the expansion of send globally to Mexico, bringing its revolutionary payment services to the largest market for remittances from the United States. Check this out. Mexico recovered or received a record 60 billion in remittances from the U S alone, making up around 95% of total remittances abroad, sending a payment from the U S to Mexico cost an average of four and a half percent of the transaction value. That is absolutely ludicrous. So can you see this as a disruption technology, 100% quitting them here, cross border payments from the U S to Mexico have reached where'd we go here? Uh, I got lost here on the site. Okay, here we are. Okay. From Mexico reached unprecedented levels serving as a lifeline for millions of people said, uh, Jack Mollers, however, existing payment services are costly and ineffective and inefficient, making them inaccessible to many at strike. Everyone should have access to better payments and financial stability. We're excited to bring fast, low cost cross border payments. We have the lightning network to Mexico, enabling more people to send more money home. So when using send globally, the dollars are converted. Here's how it works into Bitcoin and sent via the lightning network to a third party partner. That partner converts the Bitcoin into the local currency sent directly to the recipients, local account, such as their bank account. Now in Mexico strike partnered with re lump ago to enable the transfers from U S dollars received this local currency directly into a recipients bank account, quitting them here. Re lump on go is a proud partner with strike to revolutionize money transfers from the U S to Mexico, the world's largest cross border payments corridor, he said, and by harnessing the lightning network, we enable instant low cost cross border payments that are transforming the financial landscape for millions of Latin America and individuals. And since launching the feature in December of last year, strike quickly expanded, send globally to over a dozen countries. And now I believe it's over 30 countries, including the Philippines, Vietnam, Nigeria, and now Mexico amongst the top 10 largest cross border markets. So there you have it. Real talk fam. If you have the option to use a app, which is available on anyone's smartphone, and you can send and receive funds virtually for free instantaneously using Bitcoin, the monetary network and any currency, send, receive, or swap, et cetera, without any downside, would you choose that? Or would you want to use Western union or MoneyGram and go pay 20% to send some funds back to your friends or family? It makes no sense to ladder. And that's why this disruptive technology with Bitcoin and lightning network will continue to take over the world. It's only a matter of time. Now we discussed the tech. Now let's dive more deeper into Jack Mallers, $1 million price prediction and break this down. Shall we? Now he did an interview and he discussed Bitcoin beating hyperinflation, speaking on CNBC's Power Lunch with Kelly Evans, the strike CEO, discussed the role of Bitcoin in the ongoing banking crisis. And Mallers says he is convinced the Bitcoin price will hit $1 million plus fueled by global hyperinflation. Moreover, Mallers reiterated the fact that there would only be 21 million Bitcoins despite the increased demand and actually transcribed this interview. I'm going to be reading it to you for a moment, but I also want to quote him here. My overall opinion is that the name of the game is to accumulate as much Bitcoin as possible. The altcoins are interesting, but a lot more speculative. I use them to accumulate more BTC. And now for the transcribe I did myself, the transcription from that interview. Here's what Jack Mallers had to say. Very powerful words. Check it out. If silver is going to 1000x, I will walk into my kitchen right now and I will melt all my silverware and I will sell it at market. And if gold is going to rally, Elon Musk will find more on Mars. This is a super important point. Bitcoin is the only monetary instrument in the history of our species that is fixed. Facts. It does not matter how much more demand comes into the asset class. No one will ever be able to make more of it. There are two things that I can guarantee you in my life. Number one, that I'll die. And number two, there will only ever be 21 million Bitcoin. And those are the two things that I can only value. It's my life and my Bitcoin. So it is the only fixed supply asset. It's not that complicated. It's going to go up because everything else can be issued more. Preach. The only thing that is clear to us and clear to our customers is that you cannot hold and save in dollars anymore. Tell them. I think there is going to be a new era of the US dollar where inflation will enter a normalized 5, 6, 7, 8, 9, 10 percent. The days of 2 percent in inflation are over. The Fed really blew this thing up. I mean, he's preaching facts here, fam. You can call it inflation because the CPI is a load of nonsense, right? Like the government is going to tell me how the dollar is inflating based on a basket of instruments. Like my Netflix subscription or my Caesar salad doesn't actually tell me how well the dollar is over 50 percent this year. You're telling me the dollar isn't inflating. You're out of your mind. I am not listening to that. The Fed and the whole monetary system is based on trust. And they constantly, they constantly break that trust. It would be the equivalent to there is a fire outside of my house. I smell the smoke and someone tells me, no, no, no, no. It's just a bunch of teenagers putting on a bonfire. OK, but I hear a police siren. Are you sure it's a bonfire? Yeah, yeah, it's a bonfire. Now I hear 10 sirens, then 100 sirens. Now my whole community is running outside. I'm not going to get up and look outside the window and see what's going on. I don't believe them for a second. You have to be absolutely crazy to believe the Federal Reserve right now. They are full of it. And I don't have to because I own Bitcoin. There is no one that can deflate my instrument. I get to hold it, save in it. I know the monetary policy and I sleep like a baby, like the baby face that I am. I think you are crazy to believe the Fed and these swap lines and treating these assets at par. It is a gimmick. It is a scam. So there you have it. Very powerful words coming from the strike CEO, Jack Mollers. Let me know if you agree or disagree with the fearless leader in the comments right down below. And don't forget to check out CryptoNewsAlerts.net for the full premium experience with video and to participate in the live Q &A. And I will see you in the next one.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$ 1 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"Yo, what's good crypto fam. This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts.net. Again, that's crypto news alerts.net. How's everyone doing today? Did you know this is podcast episode number 1400, which is a major milestone. I'm your host JV. And today is September 13th, 2023. Let's kick off today's show with our market watch as we do each and every day. Hallelujah. We're still in the green. 26,000 is holding strong as we're currently trading at 26, 165. We also have ether, which just hit back above $1,600 and checking out coinmarketcap.com. As you can see right here, we're currently sitting just above that trillion dollar milestone with $28 billion in volume in the past 24 hours with the Bitcoin dominance on the rise at 49.1% with the ether dominance pretty stagnant at 18.5% and checking out the top 100 crypto gainers of the past 24 hours. We've got compound up 6% trading just under 40 bucks, followed by Thor chain up 5% trading at $1.58 followed by maker up 4% trading at $1,160 and checking out the top 100 crypto gainers for the past week here on crypto bubbles. You can see the majority of the market is in the green, which we love to see. We have cause up six, I'm sorry, 12.4% along with comp up 6.6% and checking out the crypto greed and fear index currently rated a 41, which is fear yesterday was as low as a 30 with last week, a 42 and last month, a 50, which is neutral. So there you have it. How many of you are taking advantage of this recent dip and dollar costs average in your position? Let me know. And it's going to be interesting to see what the Bitcoin price action does next. So let's dive right into our Bitcoin technical analysis without any further ado and welcome to y'all just joining us. Make sure to say hello in that live chat as I'll be reading everyone's comments out loud at the end of the show. So as you can see here in this chart, Bitcoin saw snap volatility on September 13th as us macro economic data showed inflation beating expectations. That's right. Which you can see here in the Bitcoin one hour candle chart. Now data from coin Telegraph and trading view followed Bitcoin price action as it threatened. It's a fresh loss of that 26,000 level. The CPI print for August came in at 3.7% year on year, which is 0.1% higher, which then was forecasted quoting them here. The index for gasoline was the largest contributor to the monthly, all items increase accounting for over half of the increase as part of the official press release from the August monthly increase was continued advancement in the shelter index, which rose for the 40th consecutive month. Now, earlier on the day, the crypto market participants had worn that a hot CPI reading would pressure the market as it would imply that inflation remained more stubborn than many hope for this in turn could have implications for how restrictive economic policy remains in the gasoline prices going up this fast. He also says inflation is still a problem in a big problem in the second half of the year. Now CPI was already a forecast to beat edge July year on year figure with August at 3.6% versus the previous 3.2%. And prior to the release, we had Keith Allen, the co-founder of material indicators who was optimistic about the week's Bitcoin price momentum holding out quoting him here. The strength of Bitcoin momentum has faded a bit since yesterday, but so far it's still strong enough to hold on to most of what was reclaimed after the bounce. He also reiterated that lots of technical resistance remained above the current spot price range. This come in in the form of multiple daily moving averages. Now with the wall street open still to come volatility was in play with Bitcoin lacking a clear trend at the time of this being published. This accompanying snapshot shot, as you can see here, shows you the Bitcoin order book on the largest global exchange Binance showing only modest liquidity surrounding the spot price with more bids currently parked at $25,000. So there you have it. How do you think this is likely to play out for the crypto market? Do you think 26 will hold strong and will continue marching upwards onwards? Or do you think we're likely to drop back down and retest that 25,000 critical support? Let me know your honest thoughts in the comments right down below. And now let's actually break down some of these tweets breaking news coming from Tom Emmer, US Congressman. He says CBDC, Central Bank Digital Currencies, is a surveillance tool that can be weaponized to oppress the American way of life, which he reveals in this new speech. I think he hit the nail on the head. We all know that as Bitcoiners, right? Because we know CBDCs are slavery by the central bankers, while Bitcoin is the antidote to that. That's why we say Bitcoin is freedom. And Max had some wise words to share as well. He wrote, saving El Salvador and Argentina from central banks by introducing a Bitcoin standard will ultimately help Americans who have the same problem of a free-falling currency, just the later bit, preach. He also says it's not enough for a country to make Bitcoin illegal tender. It must also do what El Salvador has done, erect and penetrable barriers of entry, stopping all the ishcoins. The citadel needs protection. And this is the message we'll be taking to Argentina. So there you have it. Massive shout out to the high priest of Bitcoin, the one and only, Max Kaiser. Now let's discuss the Bitcoin Lightning Network, which is the Bitcoin transaction seamless, virtually instant, and for a fraction of the cost if you were to send it on the main network. Because guess what? Coinbase, the largest exchange in the United States has been talking about this and entertaining the idea. And now we got some more insights regarding the plans coming directly from their CEO, Brian Armstrong. So let's break this down. And how many of you have used Coinbase before as a crypto exchange? Let me know in the chat, chat. I appreciate it. Brian Armstrong has disclosed that the Lightning Network is coming to Coinbase. Well, let's freaking go. What are we waiting for? The news follows Armstrong being asked about the second layer tech on Twitter when the block CEO Jack Dorsey questioned him, why do you continue to ignore Bitcoin and Lightning? I think that's a valid question. Now, what crypto is a better money transmission protocol and why? Dorsey asked. And at the time, Armstrong responded and noted that his firm was looking into adding the Lightning Network and further stressed that Coinbase is not ignoring Bitcoin. Here's what Brian Armstrong had to share in response. Not sure why you think we are ignoring Bitcoin. We have onboarded more people to Bitcoin than probably any company in the world. Now, on September 12th, which was yesterday, Armstrong explained that the Lightning Network was coming to Coinbase soon enough, quoting him here, the team did a great job digging into this and we have made the decision to integrate Lightning, he said on social platform X. He also said Bitcoin is the most important asset in crypto and so we're excited to do our part to enable faster and cheaper Bitcoin transactions, which will take some time to integrate. So please be patient. I mean, you got all the money and the resources in the world. Does it really got to take that long? Just saying, just speaking out loud. At the same time, thinking out loud, the Lightning Network has been dealing with a great deal of criticism over the last few months. For instance, the Lightning Network is still considered beta software in 2023 and it's been out for more than seven years. Can't make this stuff up, folks. Some people believe the Lightning Network will never scale and some businesses have dropped support for the second layer altogether, which makes no sense to me. Despite the critiques, Lightning Network supporters believe that the second layer will be integral to scaling Bitcoin to the masses. In July of 2023 this year, the Lightning Network's capacity reached a new all-time high, but since then dropped more than 12% from the peak. So there you have it. How many of you have ever used the Bitcoin Lightning Network before? And don't you feel it's inevitable? All the major exchanges should be incorporating it. It would make the expenses and fees go down on the exchange if you're looking to move your crypto off the exchange and maybe onto a private wallet, etc. So to me, it only makes sense unless they want to keep the fees high to ultimately extract more money out of your pockets. What are your thoughts and when do you feel that Coinbase will likely activate the Bitcoin second layer protocol we know as Lightning Network? Let me know your thoughts in the comments right down below. Now let's break down our next story of the day and that's the latest coming from Gemini Earn and the Digital Currency Group. How many of you were impacted as a result of the Gemini Earn program? As you know, there is a lawsuit currently going on. There are shenanigans with the SEC and ultimately everyone got their funds frozen and lost out because the regulators seem to be targeting yearn programs, which is very unfortunate. But here's the latest of what's going on with this ongoing saga. Digital Currency Group, better known as DCG, proposed a new agreement plan for the creditors of the now bankrupt Genesis Global that would also see the Gemini Earn users recover nearly all of their claims. So in a new filing September 13th, which is today, DCG outlined the plan that estimates unsecured creditors a 70 to 90% recovery with a meaningful portion of the recovery in digital currencies. And in addition, the remuneration plan says the recovery of claims for Gemini Earn users would be projected at approximately 95 to 110% without any contribution from Gemini. Here's what the firm stated in their most recent filing. If Gemini were to agree to provide $100 million to the Gemini Earn users under the proposed agreement as it previously did, there would be little doubt that Gemini Earn users would receive more than full recovery. I mean, more than full recovery sounds fantastic. Send it, right? Gemini Earn was a service implemented by crypto exchange Gemini, which is backed by the Winklevoss twins. They're the owners with financing from Genesis. Users were then affected by Genesis' bankruptcy protection filing and withdrawal freeze. Genesis' initial bankruptcy filing occurred in January of this year after the withdrawal suspension, which had a domino effect of a massive liquidity crisis back in November of 2022. And reportedly, the company owed over $3.5 freaking million to its creditors, which included Gemini. It is the second agreement in principle submitted to the case. The previous proposal from DCG filed on August 29th offered the DCG equity. And a day after the first proposal was submitted, the Genesis lenders called the agreement wholly insufficient. In an update, the lenders claim that the debtors, along with Genesis' unsecured creditors, are unwilling to comply with their fiduciary obligations to maximize creditor recoveries. A week later, Genesis opened a lawsuit against its parent company, DCG, and its other affiliate, DCG Investments, on September 6th for defaulted loans worth around $600 million. Now, we all know Barry Silbert is at the head of DCG and Genesis and also the owner of the Grayscale Bitcoin Trust product, which currently custodies over 600,000 BTC. So keep that in mind too, fam. On September 5th, Genesis Global Trading announced its plans to eliminate its crypto spot trading services, starting from September 18th. So how do you feel this is likely to play out for the investors? Do you think they'll receive all or maybe even more than all of their funds back? Let me know your honest thoughts in the comments right down below. I just hope they make the right decisions and do what benefits the investors the most, not what benefits the SEC or the regulators or the exchanges at the end of the day. And with that being shared, welcome to y'all. Just joining in, what's new? What's popping? What's good chat? What are you most looking forward to in crypto this week as we're already halfway through the week? It is hump day after all. Wednesday, fam. Let's now dive into our latest regarding Gary Gensler, the chairman of the SEC, along with him using artificial intelligence for surveillance agreements, which is, I don't know. I don't know how I feel about this, so let's break it down. The United States SEC, Mr. Gensler testified yesterday, September 12th in a Senate oversight hearing that his agency was currently using artificial intelligence technologies to monitoring the financial sector for signs of fraud and manipulation. Gensler gave a public speech before the National Press Club on July 17th, which I'm sure many of you watched.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$ 1 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"Bitcoin is the greatest form of money to ever exist. In today's show, we're going to be discussing Bitcoin price reacting as 3.7%. CPI sees an inflation jump beyond forecasts, and breaking news just in, US Congressman Tom Emmer says CBDC is a surveillance tool that can be weaponized to oppress the American way of life. That's right, CBDC is slavery and Bitcoin is freedom. And quoting the high priest of Bitcoin, Max Keiser, saving El Salvador and Argentina from the central banks by introducing a Bitcoin standard will ultimately help Americans who have the same problem of a free-falling currency just delay the bid. He also says, it's not enough for a country to make Bitcoin legal tender, it must do also what El Salvador has done, erect impenetrable barriers of entry, stopping the Ishcoins, the Citadel needs protection. This is the message we'll be taking to Argentina, preach. Also in today's show, Coinbase founder, Brian Armstrong, reveals a plan to integrate the Bitcoin lightning network. Let's get it. Also in today's show, Gemini earned users could recover all their funds in the new DCG remuneration scheme. We'll also be discussing Gary Gensler, the chairman of the SEC, confirms the SEC's use of artificial intelligence for financial surveillance. We'll also be discussing Bitcoin bull market well intact despite the recent correction, according to crypto analysts who call the May 2021 crypto crash. We're talking about Dave the wave. We'll also be discussing Bitcoin payments app strike expanding to more than 65 countries from three, including Mexico, as well as Jack Mallers discussing the Bitcoin price beating hyperinflation and soaring to a million dollars plus per coin. All this plus so much more in today's show.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$ 1 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"Yo, what's good, crypto fam? This is first and foremost a video show. So if you want the full premium experience with video, visit my YouTube channel at CryptoNewsAlerts.net. Again, that's your host, JV. Today is September 10th, 2023, and the market unfortunately is back in the red. As you can see here, we've got Bitcoin down a quarter of a percent for the day, barely holding on to twenty five thousand, eight hundred support. We also have Ether down a percent, barely holding on to sixteen hundred dollars. And check it out, CoinMarketCap.com, the current crypto market cap sits just above a trillion dollars, but about seventeen and a half billion in volume in the past 24 hours. Bitcoin dominance on the climb at forty eight point six percent, with the ether dominance at eighteen point eight percent. And checking out the top one hundred crypto gainers of the past 24 hours, we have Kronos leading the pack, but only up one percent, trading at five point two cents, followed by Leo up three quarters of a percent, trading at three dollars and eighty four cents, followed by PaxDollar, which is the stablecoin, which is up point three percent. So it virtually means almost every major crypto is currently correcting and in the red, which you can clearly see here on crypto bubbles. This supposed to show us the top gainers out of the top one hundred for the past week. And I only see Kronos in the green and costs only up a modest one and a half percent, virtually meaning all the top cryptos are bleeding and bleeding pretty badly. And checking out the crypto greed and fear index, we're neutral. So there you have it, fam. Welcome, everyone. Just joining us. Shout out to everyone in that live chat. Let us know where you're tuning in from. At the end of the show, I'll be reading everyone's comments out loud. Now let's dive into today's Bitcoin technical analysis. Check out the charts and what is popping right now with the king crypto, with this latest research that a black swan event could be on the cusp. That's right. Bitcoin may be worrying market participants with the current price action weakness, but on chain data paints an intriguing picture of activity under the hood. Now, UTXOs represent the Bitcoin leftover after an on-chain transaction is executed. Crypto quants UTXOs and loss metric tracks when the large numbers of these UTXOs are worth more than when they were when Bitcoin was originally bought. Now, currently, more of these are in loss compared to their original acquisition price than at any time since March of 2020. Can you say deja vu? At the time, Bitcoin dropped 60 percent to its lowest level since March of 2019, lows which were never ever seen again. So considering the current data from UTXOs and loss, crypto quant contributor ventured that that March 2020 Bitcoin may be seeing already bouncing back from a curveball selling event. Quitting the analysts here, given that the current level of the UTXOs in loss indicator mirrors that of the black swan event between March and April of 2020, those anticipating another black swan event might want to consider whether we are already in the midst of the event that they are waiting for. Now, in percentage terms, 38 percent of the UTXOs were in the loss at the end of August, a figure last seen in April of 2020. Quitting them again, when many UTXOs are in a loss, investors might be more inclined to sell, hinting at market anxiety. And conversely, when most UTXOs are profitable, it suggests an optimistic outlook and a stronger hodling sentiment amongst the investors. Now let's discuss the underwater Bitcoin speculators continuing to grow. That's right. Bitcoin, meanwhile, remains locked in a tight range amid the lack of overall Bitcoin price trend, with neither a breakout nor a breakdown willing to compete. Cost basis data likewise shows the current spot price caught between the acquisition prices of various investor cohorts. Now this realized price, which is the price at which the supply last move divided by the age, shows that the short-term hodlers fall into aggregate loss when Bitcoin is below the 27,000 level. And a full capitulation event, however, has yet to be recorded on chain. So there you have it. All I know is this, one Bitcoin is still equivalent to one Bitcoin regardless of today's fiat Ponzi US dollar value. Just saying. And one Bitcoin will always be equivalent to one Bitcoin. So keep hodling, keep stacking M-Sats. You already know, my fam. Now let's break down our next story of the exchange. 29,420 Bitcoin were stolen. So let's break this down. The commodities traders are trading futures commission. CFTC is hitting the South African Bitcoin trading and networking firm with a band of 1.7 billion penalty for defrauding investors. According to the press release, the CFTC announced the judge ruled that mirror trading international proprietary limited. Let me know if you've ever heard of the firm must pay over a billion dollars to compensate the victims of its fraud scheme involving foreign currency transactions, quitting the CFTC here. The order stems from CFTC complaint filed June 30th, 2022 and requires MTI to pay more than $1.7 billion in restitution to defrauded victims. The order also permanently enjoins MTI from further violations of the Commodities Exchange Act as charged and imposes permanent trading bans in any CFTC I. Now the CFTC also highlights a default judgment issued against MTI founder and CEO Cornelius Johannes Steinberg. In April, the court found that from May 2018 to March of 2021, Steinberg and his business engaged in an international fraudulent multi-level marketing scheme to solicit Bitcoin from people for participation in an unregistered commodity pool operated by MTI. The CFTC says that Steinberg collected at least 29,421 BTC worth over $1.7 billion while conducting the scheme. And for his crimes, Steinberg must pay more than $1.7 billion in civil monetary penalty, which is the highest in any CFTC case. Now, according to the CFTC's director of enforcement, Ian McGinley, here's what he had to share. The settlement with MTI and default judgment against Steinberg represents the latest stage in our battle against fraudsters who victimized over 23,000 individuals from the United States. So, wow, most of that Bitcoin comes from US investors, it seems. Here, the fraudsters made the most modern of promises, claiming their advanced intelligence software with Bitcoin as a base currency would create untold wealth for the investors, but were actually committing a classic form of fraud, which is a multi-level marketing scam. Whether a scam involves fictitious electronic trading bots or Bitcoins as this action involving a South African entity shows, we will pursue the scam artists wherever they may be. So there you have it. Again, let me know if you've ever heard of this firm and hopefully none of my audience was scammed by them. If it sounds too good to be true, typically it is too good to be true. And there's a lot of scams out there and I don't kind of preach to the choir. You guys know this, protect your Bitcoin fam. Now let's discuss another major hack. Unfortunately, a prominent figure in the crypto space, co-founder of Ethereum, Vitalik Buterin, was just hacked and scammed literally over $600,000 from victims, which is very unfortunate. But you also have to keep that in mind. Oftentimes, hackers could even hack a major influencer's account and then convince you to send them some Bitcoin in some hopes of some returns. But these are all scams as well. It's a very common scam we see more and more often, unfortunately, in the crypto sphere. Now, Vitalik, Ethereum co-founder, allegedly had his ex-account compromised according to a prominent blockchain investigator, Zach XBT. The incident led victims to collectively losing over $691,000 after clicking on a malicious link. That's right. On September 9th, yesterday on a post, Dimitri Buterin, the father of Vitalik, announced his son's account had been compromised, quoting him here, disregard this post, apparently Vitalik has been hacked. He is working on restoring his access. The post was also referring to as since was deleted. It published Buterin's account claiming that to celebrate the arrival of a proto-dank sharding coming to Ethereum, the hacker shared a malicious link to the alleged free commemorative NFT available, enticing victims to connect their wallets before ultimately stealing their funds. So there you have it. Trust nobody, verify everything, never attach your wallet to anything as it can be a malicious link designed to steal your crypto as what happened here. Now, consequently, this incident has led Ethereum developer Bakko, known better as Bakky Puba on X, to claim he has suffered losses in the crypto punk NFT collection. Now, at this time of publication, the prevailing floor price for a crypto punk NFT stands at almost 47 Ethereum, which is approximately equivalent to $77,000. Now, Zach XBT has been actively informing his over 400,000 followers about the hacker's activities. He recently shared that the most valuable NFT pilfered so far is crypto punk 3983, worth 153 ETH, equivalent to approximately $250,000. Now, a user with the alias Satoshi767 on X claimed that Buterin might not have implemented sufficient security measures for his X account, quoting him here, I hate to be the one to say it, but Vitalik should take accountability for his poor, opt, sec, and compensate those affected, he stated, before implying that he believes Buterin's oversight led to the attack, quoting him again, the only way this isn't negligence on Vitalik's part is if someone at X internally compromised the account, or if he was coerced in person by a criminal who threatened violence. I highly doubt that's what happened. Most likely, this was a SIM swap, which is a common occurrence for hackers in crypto. However, Zach XBT challenged those allegations, asserting that Buterin's high profile makes him susceptible to various forms of hacking attempts, as he shares here. You do not know yet whether it was a SIM swap. Vitalik is a big enough target to where an insider could have been paid off, or a panel was used, according to Zach XBT. So there you have it. It's sad to hear so many people being scammed, but you gotta be a little smarter. Never send anyone your crypto, never connect your wallet to anything. If it sounds too good to be true, it probably is, fam. And with that being shared, now let's discuss the latest with the one and only fraudster, SBF, better known as Sam Bankman-Fried, and the latest with his ongoing jail saga. Here's a picture of him right here being held by authorities and being held in custody. In a new letter to federal Judge Lewis Kaplan filed on Friday, SBF's lawyer, Mark Cohen and Christine Everdell, claimed that FTX founders unable to adequately review discovery materials on the provided laptop and internet connection at the Metropolitan Detention Center. Mr. Bankman-Fried was only able to load one document from the database to review the letter states. And here's what the attorney further shared. Effectively, Mr. Bankman-Fried had no access to the internet for the entire five-hour period. The defense team also asserted Bankman-Fried's trial preparation time in the jail is limited with the 30-year-old... Okay, so he's 30 years old and brought from the form of a visitor, a room late. Bankman-Fried was arrested in December, as we know, and charged with orchestrating a multi-billion dollar fraud at FTX and co-mingling customer assets. He also pleaded not guilty to those charges. Prosecutors have opposed any release for Bankman-Fried before the October trial. The government believes SBF can access discovery for up to 11 hours on the weekdays and has unlimited access to hard drives of evidence. But Bankman-Fried's lawyers counter that the lack of web access prevents comprehensive document review. Quitting them here, we therefore respectfully reiterate our request that the court order Mr. Bankman-Fried's temporary release under 18 USC. They wrote to Judge Kaplan, the attorney's argument that his constitutional sixth amendment rights are currently being infringed upon. What are your thoughts, chat? Let me know. The tussle over Bankman-Fried's pretrial access to evidence comes amid heightened attention to the conditions and rights of detainees preparing complex white collar criminal cases. Legal experts say judges tend to be cautious in granting temporary release, but complaints of inadequate access raise constitutional issues of courts often take serious. So what are your thoughts, fam? How do you think this will likely play out for SBF? And as I shared breaking news just the other day, a fellow in Turkey just got sentenced to almost 12,000 freaking years in prison for a $3 billion fraud. So how do you think SBF should be treated if he is found guilty of a $30 billion fraud surrounding FTX? And now let me do research. Let me know, fam. And at the end of the show, I'll be reading everyone's comments out loud. Now let's discuss the latest with Coinbase offering their institutional product, which can greatly benefit a lot of the cryptocurrencies. Let's break this down, and then we'll dive into the latest predictions from Max Kaiser, and then we'll dive into our live Q &A. So here we go. Coinbase, the leading digital currency exchange, the largest crypto exchange in the United States, just rolled out their lending services to its prime institutional investors. The organization suggests that the lending feature promotes the crypto market's development after some shortcomings. Various virtual currency platforms such as Celsius and Voyager filed for bankruptcy due to their shortcomings, which we all know that happened in 2022. A filing by the US SEC stated that the crypto exchange's customers had invested $57 million in the lending activity that commenced on August 28th. This is also an incredible indication of various digital currencies such as Luna Classic, Polygon, Slashmatic, and Bitcoin Spark. Most importantly, Bitcoin Spark might also experience growth once the Web3 community sees through its double consensus mechanism and its multiple means of revenue generation. Now personally, I'm not familiar with Bitcoin Spark. So if you guys have any insights regarding this cryptocurrency, please do let me know. I have no familiarity with it whatsoever. But will Luna Classic recover? Great question. Concerning the ability of Luna Classic to bounce back has become rampant in the crypto industry, named only currency left after the downfall of Terra Luna. The Luna Classic is estimated to be in the green in 2026. Digital analysts depict that the crypto might also surge during the next bull market that might happen in 2024. But I also remind you that Luna Classic can go to zero. So keep that in mind as well, investors. Now back to Bitcoin Spark. The decentralized ecosystem seeks a platform that will cause venture capitalists and individual investors to invest funds increasing crypto adoption. The new entrant, Bitcoin Spark, stands to create waves in the crypto market to promote the growth and development of the blockchain ecosystem. Users and participants in the decentralized ecosystem need not worry, as the digital platform will sort out issues with interoperability, scalability, and transaction speed limiting factors for major blockchains like Bitcoin, as well as Ethereum. The platform has a cutting edge algorithm that will enable participants to generate revenue in multiple ways. Bitcoin Spark has already been audited by Vital Block and Cognitos, the most compelling and prominent auditing organization of the blockchain ecosystem. Now marketing is pivotal in the upcoming Web3 projects as it creates awareness for the crypto and non-crypto individuals. When a project's marketing is strong, the platform seeks to reach many investors and subsequently surge over time. Bitcoin Spark will use a new marketing technique to capture the user's attention embedded into the ledger ecosystem. The marketing strategy is called innovative disruption. Innovative disruption seeks to disrupt the old marketing methods to develop quality and more eye-catching strategies. The process will involve storytelling to capture blockchain enthusiasts' attention, leveraging blockchain tech, and strategic positioning as the best and most potential crypto startup. Other methods utilized for marketing include influencer coalition and community engagement. So once again, let me know your thoughts if you have any insights regarding any of these cryptos. Are you bullish on any altcoins at this moment outside of Bitcoin? And yeah, what are your thoughts? Let me know in the comments right down below. Welcome everyone just joining us today in that live chat. Make sure to let me know where you're tuning in from as in a little bit. I'll be reading everyone's comments out loud, giving everyone the opportunity to have their comments, voices, and concerns and opinions read out loud. Now let's dive into the latest from the high priest of Bitcoin, one of my favorite in the crypto industry, and that's the one and only, Max Kaiser. We're going to be breaking down his multiple seven-figure price prediction, as well as all of his other most recent price predictions, which are relevant. So let's start right here. He just tweeted, El Salvador bonds are up 90% this year, the best performing in the world. Bukele, the president of El Salvador, plus Bitcoin equals a rocket ship to the moon. And in that thread, he also says El Salvador debt will soon be trading at a premium. Volcano energy is powering El Salvador to become a Bitcoin powerhouse. El Salvador will be debt free by 2030. Now that's a very bold prediction. He also shared back on August 11th, the following, Bitcoin has already and will continue to outperform everything else so spectacularly by a hundred X or more that anyone holding Fiat stocks, bonds, gold, all the ish coins, property, et cetera, will literally be impoverished. Now you run the math, with Bitcoin's current price action above 25,000 times a hundred X, that's $2.5 million per coin based on Max Kaiser's prediction. I also like to share a recent tweet he shared on September 6th, four days ago, this Tucker Carlson interview with Javier Melez could pump the Bitcoin price 5% in a day. It'll become clear that all of central and South America benefits extraordinarily from adopting a Bitcoin standard. That's right, Bukele and El Salvador leading the way. And if you didn't know, Tucker Carlson, who has an audience of over a hundred million people tuning into his show now on X, recently went to Argentina to interview the pro Bitcoin presidential candidate, Javier Melez. I personally cannot wait for this interview to be released as it is obviously extremely bullish for Bitcoin. And as Max points out, this interview alone can pump the Bitcoin price 5% in a single day. Now, Max also made some very bullish predictions on the last day of last year, New Year's Eve, December 31st, 2022. Here's what his predictions for 2023, quoting him here, my 2023 predictions on Bitcoin, number one, will reach $100,000. Now we're currently 75,000 off from that target, but we're just entering the fourth quarter. We'll see how that plays out. He also predicted that two more countries will adopt Bitcoin as legal tender. Currently, there is a lot of talk surrounding nations such as, what do we got, Brazil, we got Argentina, many other Latin American nations, but I don't think it has been official yet, but many are in the works. So let's see. He also says that will become a major electoral issue in US elections this year. It already has become a major issue. You have Kennedy Jr., who has already said if he is elected president, he's going to back the dollar by Bitcoin. We also have other candidates such as Ron DeSantis talking about being pro-Bitcoin and anti-CBDCs, so he was right there. He also said that Bitcoin city will commence construction and that volcano bonds will be oversubscribed. So I mean, he hit the nail on the head on many of these. Obviously, we have yet to hit that $100,000 price action, but hey, anything's possible. So we'll see how that plays out. Now, he also was recently interviewed and he shared the following predictions as well. This country, referring to El Salvador, will be debt-free by 2030 with Bitcoin as well as geothermal Bitcoin mining. And he also goes on to share, quoting him here, where he declares, countries around the world are beginning to accumulate and mine Bitcoin as the world of fiat currency and central banks disintegrate with the benefit of President Bukele's new laws, such as making Bitcoin illegal tender. We have the ability to lead and lead the world and arguably become the richest country in the world. Go figure. Now, if you translate El Salvador into English, it means the savior. Is this a coincidence or is this all by design? Now, Max has also been a very vocal proponent of Bitcoin as a currency, declaring that all fiat currencies are going to zero compared to Bitcoin. It's all going to zero, right? Kaiser explained that Volcano Energy's market cap will grow to $50 billion, exceeding El Salvador's GDP, which is estimated to be $29 billion. This growth will be powered by the rise of the price of the Bitcoin currency. Max also was interviewed by Swan and made a multiple seven-figure price prediction, revealing what he believes will cause the Bitcoin price to skyrocket to new all-time highs. So let's quote some of this interview. With Bitcoin, it's kind of the end of the price discovery because everything will eventually be priced in Bitcoin. Everything goes to zero against Bitcoin. And so for someone like myself who has been following this for 40 years, the finance markets, technology, Bitcoin is the holy grail. It is the end all. I would say my compatriot in all of this is Michael Saylor. When you hear Michael Saylor talk, he talks about the aesthetics of Bitcoin, the beauty of Bitcoin. And he speaks about it in a way I think carries the torch from the Max and Stacey from 2011. He started buying it, I guess, when it was $10,000 or $12,000 or so in the 2020 era. So we were there from 2011 to 2020. I think he's kind of carried the torch from 2020 in a lot of ways, introducing Bitcoin to massive pools of capital. I'm surprised that more companies haven't followed his lead, given the outbreak in inflation we have had exactly as Michael Saylor predicted it. The melting ice cube, as he called it at that time, is exactly what happened. Well, I guess we can now say we're now in the era where BlackRock, the largest asset manager in the world, and these other major institutions are now looking at Bitcoin. So his work on the institutional level, I guess, is bearing fruit. Now, three years later, I see in the Middle East, they are starting to recognize Bitcoin. So that's a huge pool of capital. I think all that oil money will find its way into Bitcoin and be a huge catalyst for higher Bitcoin prices. It's a natural way for the oil industry to diversify their portfolio, because Bitcoin is essentially energy, and the energy eventually gets priced in Bitcoin. And there is a marriage between these two in a big way. So I think that's kind of the answer. I've always been fascinated by price discovery in markets and the architecture of how the markets work under the hood. And Bitcoin is such a pristine, perfect money. And I think it is something humans have been searching for since forever. And now we're seeing a changed society on a really fundamental level with the introduction of Bitcoin. A lot of people are freaking out because of it, because it destroys the status quo. And a lot of people have been waiting for it to come along, have the faith that humanity can be saved. They see Bitcoin in those terms. So you have this split going on, which is very exciting. So it just continues on and on. How can you not be interested in it? I think the people who were into it earlier and walked away just never really got it from the beginning. Once it's categorized as an asset class, we have nothing to do except position ourselves in this asset class preach. Either we are going to be a small position or a big position, but we cannot ignore it. We cannot not have a position. Now listen up right here. So even 1% of that multi hundred trillion dollar funds available moves the needle on Bitcoin and it moves it up considerably. So if we get into that five to 10% range, then you can start to really see it raised ahead of the seven figure type predictions that people have been making, including myself, because it is an asset class. So there you have it. Very bold prediction coming from Max Kaiser. And as I shared in great detail in yesterday's episode, Michael Saylor also made a very bullish recent prediction, which has been going viral on X. I already got over 2000 hearts, 400 retweets, and over 311,000 people who were exposed to this prediction from Michael Saylor. And I feel it's relevant to read to you right here. So I recently transcribed the most recent price prediction from Saylor. Here's what he had to say. First of all, Bitcoin is going up by a factor of 10, whether they can fix any of this stuff, it is going to be a grind up by a factor of 10 just because gold is broken and Bitcoin is going to replace gold. And now everybody in the universe knows they need a non-sovereign store value in the form of a bearer instrument. For the last year, people said inflation may be coming. We are not sure. Now the mainstream narrative flip to inflation is here. You need an inflation hedge. So it is going to grind up to replace gold. It'll go to $500,000 a coin regardless of whether they fix these things. Here are the three things that are massive catalysts that cause an acceleration. Those three things don't take us to $500,000. They take us to $5 million per Bitcoin. Those three things are number one, a spot ETF where someone can go ahead and buy $100 million Bitcoin via an ETF security. I think that's one. Number two, your bank is going to custody it for you and lend against it. And number three, I can mark it up or down on my balance sheet based on its fair value. It'll be pair of pursue to the way I handle Apple stock or at least that good. So if you have property with fair value accounting, by the way, it becomes a pair of pursuit to the way you'd handle treasury bonds and a treasury balance sheet. Treasuries are better than stocks because treasuries are properties, whereas a stock is a security and you're capped out at 40% of your balance sheet of securities now. So it would be a major, major breakthrough if you saw any of those three things. I'll end with this one observation I tweeted last week. I believe it's very powerful. If the banks can hold the stuff on their balance sheet, then a whole new class of investors are going to buy it. People are going to put in a billion and multi-billion dollar orders to buy it as a treasury asset. Nobody is going to sell it because there is no reason to sell it if you can borrow against it. Sage wisdom coming from sailor. So you're B borrowing against Bitcoin. Nobody is ever going to sell it. And then as I joked, you won't be able to afford it. Well, you'll be able to afford it, but you know, everyone gets Bitcoin at the price they deserve when the banks normalize it. And you can draw a hundred million credit line at a hundred basis points from an FDIC insured bank at that point, right? Where we're going to blow through the market cap of gold by a factor of 10. And right now the gold market cap is roughly 10 trillion. So we say in the Bitcoin market cap will hit a hundred trillion dollars. I think the best is those three things are likely, highly likely to happen. I don't know if they happen in 36 months or 24 months or 12 months, but I'd be shocked if it's more than 36 months. And I hope it doesn't happen in 12 months because my view is the longer it takes, the more progressive the grind and the more time I have to buy more of it. So there you have it, fam. Let me know if you agree or disagree with the Giga Chad, as well as Max Kaiser with their predictions that the Bitcoin price will continue climbing. And Max says by a factor of a hundred X against all other assets, we got Michael Saylor saying the Bitcoin market cap will soar 10 times the market cap of gold sending the Bitcoin price ultimately to $5 million per coin. What are your thoughts? Do let me know. And don't forget to check out CryptoNewsAlerts.net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$ 1 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"I'm so sorry, ma 'am. I know you need this medicine, but it looks like it's not covered by your insurance. Yeah, unfortunately, I had to deny that one. Wait, who are you? I'm your insurance company's pharmacy benefit manager. I get paid based on the price of a medicine, and I don't make as much money off this one. No one should stand between you and your medicine. Visit phrma .org slash middleman to learn more. Paid for by Pharma. In today's show, I'll be breaking down the latest technical analysis while Bitcoin flatlines at $30 ,000. Also, we'll be discussing the SEC hints at a potential appeal to the XRP ruling from the recent Ripple Labs lawsuit. We'll also be discussing FTX sues Sam Bankman -Fried as well as the former execs to recover over a billion dollars. We'll also be discussing Bitcoin will reach $175 ,000 per coin if the price breaks above this rising channel, according to top trader. We'll also be discussing, as Bitcoin continues to rise, El Salvador's sovereign bonds soar 60 % thus far in 2023. That's right, belief in El Salvador's national debt has resurrected throughout the past 12 months as it demonstrates its ability to make its payments. I'm also going to be sharing with you Max Keiser's $1 million Bitcoin price prediction, and most importantly, how and when. And also, he says everything is going to zero against Bitcoin. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Hey, what's good crypto fam? This is first and foremost a video show. So if you want the full premium experience, visit our YouTube channel at CryptoNewsAlerts
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$ 1 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"The investor predicts that eventually most crypto projects will consolidate into a smaller number of layer ones that thousands of blockchains tap into for security, quitting him here. In the future, everything becomes a roll up, tapping into the security of a handful of multi -trillion dollar based layers. It's as simple as that. Consolidation of one layer infrastructure leads to cementing winners and value accrual, where while demolishing the value of the long tail of infrastructure, those playing the venture capitalist infrastructure game for too long will get rightfully burned. And through this consolidation, the cost of block space service provisioning collapses, leading to an expansion and increased experimentation at the app layer may take a cycle to become obvious. And earlier in the year, he named Solana as one of the biggest opportunities for the next bull market cycle, quitting him again. I think if I had to pick an ecosystem that's contentious and that you should pay attention to, and it is contentiousness, which is undervalued, it would be Solana. Placeholder, each bear market, tends to pick an ecosystem or two and build an aircraft carrier strategy around that ecosystem. And so the last bear market, it was ETH and Bitcoin, because those were really the only things that scale and liquid enough to justify. And what I mean by aircraft carrier, if you take Ethereum, buy a bunch of the core ETH asset, but then venture invest around it and really get to know the ecosystem and who all the people are that are working on, say, at that point of time, lending or decentralized exchanges or asset management or whatever. And then you can pick the best teams of the teams that most speak to from a venture perspective. We are doing that same aircraft carrier strategy around Cosmos and Solana right now. Very interesting because I also heard the macro guru, Raul Powell, 80 % of his portfolio, he says is in Solana. So that's just more bullishness right there for the crypto market in 2025. Now for Michael Saylor's $1 million price prediction. Let's break this down.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$ 1 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"Frankly, we are very optimistic and Garlinghouse emphasized that this is the first time the SEC has lost the crypto case. That means they were undisputed, not any longer. He called out the SEC for being a bully and going after players in the crypto industry who couldn't mount a proper defense. I think they make a great point there. Unlawful action continues with their crypto crackdown, right? He also noted that when the case against Ripple was first filed, a lot of the crypto exchanges in the US had the attitude of waiting to see what happens due to uncertainty. This resulted in several of the top exchanges such Coinbase, Kraken, and Gemini, et cetera, all delisting XRP altogether, which absolutely suppressed the price action of XRP. The SEC sowed confusion in the market, according to Garlinghouse, quoting him again. They knew there was confusion and they actually did things that they know would increase confusion. Let me know if you agree or disagree with the CEO. Garlinghouse explained that this confusion actually masqueraded as power to the SEC, thus preventing innovation within the US. Quitting him again, the SEC has been trying to put power in politics over what is really just sound policy and providing clear rules of the road. He points out that this has made it difficult for entrepreneurs and investors to participate in the US crypto market and blockchain industry. So there you have it. Let me know if you feel if the SEC is likely to appeal this decision versus Ripple Labs and the XRP community. And with that being shared, fam, now for the latest regarding this BlackRock approval of their application by the SEC, which is a great sign that we are on track to moon next year in 2024 as Bitcoin halving is estimated to be roughly in April, roughly nine and a half months out. Let's go. So here is the latest with BlackRock, the largest asset manager in the world. BlackRock s app to offer a spot Bitcoin ETF has been added to the official docket of the SEC as part of its proposed rule change process.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$ 1 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"In today's show, I'll be breaking down the latest technical analysis, as well as the bulk case for Bitcoin according to ARK Invest, which is a $1 .48 million Bitcoin price prediction. Also, quoting Max Keiser, Bitcoin's revolution is an impossible to counterfeit digital store of value that can be used as money that has no sovereign or central bank involved that can be sent anywhere instantly at virtually no cost and is irresistible. Anyone who uses it is converted. You can say that again. Also in today's show, I'll be sharing Europe expecting its first Bitcoin ETF this month. I'll be breaking down this report, as well as the SEC could be waiting years to file an appeal in the Ripple XRP case, according to their CEO, Brad Garlinghouse. We'll also be discussing the SEC has officially and formally accepted the BlackRockSpot Bitcoin ETF, which is big news. I'll be sharing this regarding the latest application review, as well as a crazy 2025 crypto rally is approaching, says crypto analyst who called the 2022 market bottom. I'll also be sharing with you Michael Saylor's $1 million Bitcoin price prediction. Quoting him here, I have said it before, and I'll repeat it again, if Bitcoin is not going to zero, it's going to a million dollars per coin. It is either nothing, and if it's nothing, then it's getting scrubbed out and banned. And of course, we now know it is not getting banned. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Hey, what's good crypto fam? This is first and foremost, a video show. So
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"$ 1 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"Until then it is just a slow grind and we're getting so close to 32 .5 just fyi so according to the analyst that's the line in the sand to keep your eyes out on for others continue to narrative calling for lower levels to reappear in the second half of this year after the midterm uh top uh quoting uh coin telegraph reporter here the more time passes with bitcoin holding above 25 ,000 on the macro level the more I'm leaning towards the macro bottom being in says crypto tony I still believe we see a bigger drop later this year but likely to be a part of a bigger accumulation zone now let's discuss small entities snapping up the bitcoin supply bitcoin supply shock in full effect right the latest on -chain figures from glass node analytics revealed ongoing accumulation amongst the smaller entities of the bitcoin investor spectrum we referred to these cats as shrimp defined as wallets containing less than one btc and currently increasing their holdings of over 33 ,000 btc per month on a rolling basis and according to glass node the data stands out with only 130 out of 5263 trading days recording a larger monthly position change that brings the total coins held by the shrimp class to 1 .33 million btc so there you have it and massive shutout to everyone accumulate in sats keep on stacking and breaking news just in spain's largest bank santander says bitcoin lightning network can scale to a million plus transactions per second versus only 20 ,000 with visa the old school railways now if you were to uh or the bitcoin lightning network it's no question if you're to ask me with that being shared now let's discuss the latest with bitcoin futures which is looking very positive uh right now uh hitting 18 month highs check this out the bitcoin futures premium has reached its highest level in 18 months on july 4th traders are now questioning whether the derivatives metrics indicate excessive excitement or return to the mean after a prolonged bear market the bitcoin price has been trading at a narrow four percent range since june 22nd oscillating between 29 .9
The Argument
"$ 1 million" Discussed on The Argument
"To each individual justice. Which again has been a problem with Jenny Thomas, clarence's wife, because of her known role in perhaps trying to overturn the 2020 presidential election. And then the Supreme Court has to rule on a lot of these cases, this is a clear issue where a little recusal could have come in handy, but nope, nope, everybody on the court is so convinced of their immaculate conscience that they can't be. They can't be bothered with such matters. Well, I mean, this is where the fundamental challenge is that the powers of the court are such that the ideological stakes involved in all decision making are extremely high. And so the justice who basically makes himself or herself a sort of hyper pure, recused, then ends up in the position of performing a kind of perpetual self sabotage on their own side in American politics. And of course, we're, you know, there's the view that the justices don't actually take sides and so on and that they are not supposed to be political actors, right? But everyone knows that that's transparent nonsense and one of the nice things I suppose about the last ten years is that liberals who used to claim to believe this no longer say that they do. Because they no longer control the court. So the fund's been ruined for everyone. Everyone's unhappy. Everyone can now at last agree. But it does sort of create permanent problems. And I mean, there are conservatives who have their own long lists of complaints about liberal justices, not recusing. But the general issue of you're not recusing enough has been sort of a resilient conversation on the court for a long time or around the court, at least. The other issue that's worth raising here, which is sort of an odd way of looking at this, is that there are ways in which I suspect that possibly all of the Supreme Court Justices, regard some kind of compensation related gray area, the kind of book deals and junkets and everything else as in a way they're due for taking a kind of permanent pay cut to serve on this August body. I'm not defending this view. I'm just trying to, at a human level, if you're a Supreme Court Justice, you make a really, really nice salary, but you know, you're not rich, you're not making the kind of money that your peers and corporate law firms, the people arguing cases before the court are making. You exist, especially nowadays in this bubble of anxiety and threats and security issues. And I strongly suspect that there's a psychological mechanism where a lot of justices, again, not just Thomas, say, this is actually kind of hard service, and I'm not being adequately compensated for it. Anybody who's not working on Wall Street can make that justification. And Brett Kavanaugh, we all know, came out of the womb. Longing to be a Supreme Court Justice. So you should be willing to trade a little bit of financial compensation and you don't get to travel on private jets all the time like your corporate law Friends to be one of the most powerful people in the country. I have to say I think that I for one would sign up for paying Supreme Court Justices a whole lot more money. They are public servants who do a very important job and why shouldn't they be paid half a $1 million or heck even a $1 million. It's only 9 people. We can afford it. I think it's not a terrible idea at all to compensate them and perhaps provide them with other benefits. Problems that can be solved with money are actually the easiest problems to solve in some ways. Just to pick up on what Ross was saying on the recusal question, I'm the farthest thing from an originalist. In fact, I have no judicial philosophy at all. But since I'm neither a lawyer nor a judge, but it is kind of crazy to think that when the Supreme Court was created, all of these questions about how long someone was going to live, how frequently openings would come up and all those kinds of things, I think just felt extremely different. You know, we've just been through an extraordinary series of events that resulted in a highly unusual to use a neutral term or one might say highly aberrant to use a perhaps more accurate term president who served for a single term after not winning the popular vote, but winning the Electoral College was able to appoint three Supreme Court Justices. That's wild. When we think about the makeup of the court, when we think about the ethics of the court, when we think about all of these things, I feel as if all of the questions are unnecessarily heightened by this very strange and historically rooted but perhaps not appropriate way that the Supreme Court is made up. Well, now you're talking about bigger structural changes, which people are also toying with. Either adding members to the court, which I think is very problematic, but the question of term limits has also come up, which would address what you're talking about with the kind of randomness and how they wind up there and who gets to a point what? Term limits could also have an impact on what Ross is talking about. The downside of a lifetime appointment is that you never get the chance to then go make your pile of money the way happens in so many other aspects of government for better or for worse. And if justice is new that this was a, I don't know, 15 year hitch or something like that, then they may not feel the urge to try to cash in while they're in office. You know, it creates all of these other problems. Imagine if a huge law firm had of counsel former chief justice John Roberts on their letterhead and they're arguing before the court. Things get very tricky very quickly. So I think it's a little bit harder to manage the problem in that way. It's always a cost benefit analysis of these things, though, and they're going to be all kinds of unintended consequences. But I do think it's worth looking at the impact it would have on how the nominations take on this incredible intensity. It's a lifetime appointment. You got to get the young judge who's ideologically in tune and everything is riding on it, whereas if you have, say, an 18 year appointment, you kind of rotate who's coming on and off and you know when these things are likely to happen and you don't have to do things like Mitch McConnell felt he needed to do, which is, you know, somebody dies and you got to hold a seat open for a year until the next election. I mean, there are a lot of benefits to regular rising, so to speak, the way the court evolves.
The Argument
"$ 1 million" Discussed on The Argument
"From New York Times opinion, I'm Michelle cottle. I'm Ross douse it. I'm Carlos lozada. And I'm Lydia polgreen, and this is matter of opinion. So today is our first episode and we're talking about clarence Thomas, the Supreme Court Justice. A slew of stories have revealed that he and his wife have received many gifts. Many many gifts. From a rich pal who also happens to be a big donor to conservative causes and candidates. And if I guess, I don't mean nice baseball tickets or a holiday cheese basket. We're looking at Kardashian level locks here. Can someone just recap what's been happening for the last month or so? Carlos? So we're talking about the court today, thanks largely to the folks at ProPublica, who over the past month have reported several big stories surrounding clarence Thomas. We've learned a few things. First, that over the past 20 years, clarence Thomas took some really nice luxury vacations paid by billionaire Harlan crow, fancy yachts, private resorts, overseas travel, private jets, that kind of thing. Thomas said he didn't think he had to disclose this kind of personal hospitality quote unquote on his financial disclosure forms. We've learned that Harlan Crowe purchased property from clarence Thomas. In fact, he purchased a house that Thomas mother reportedly still lives in. We've learned that Crowe for some period of time paid for the private school tuition of clarence Thomas grand nephew. So at very least Harlan Crowe is a pretty generous friend. And justice Thomas did not sufficiently disclose or acknowledge this generosity. And of course, even before all this, public trust in the court was headed in the wrong direction, particularly in the aftermath of the leak of the Dobbs opinion, overturning roe V wade. So some of the questions for us, how serious is all this for clarence Thomas? Where does it rate on the kind of no big deal to hyperventilating outrage meter? What should be done about it? If anything. And I think really more important is what does it do to the perceived legitimacy of an institution where already you have unelected justices enjoying lifetime terms? So who wants to go first? I would just add a couple of things. There is a kind of an area of penumbra around some of the other justices and questions about their activities as well. There was an insider story about the wife of chief justice John Roberts, making $10 million over many years as a legal recruiter that feels like a slightly different area of ethical questions. There was also some questions about Neil Gorsuch and a piece of property that he sold. He was part of a group that sold it to the CEO of a law firm. So and the other thing that's worth saying is that I think that there have also been questions about just generally justices over many years taking these junkets getting big book advances. I think those are, again, very different from the Thomas situation, but I think they're worth keeping in mind just as we talk about. Who are these people? What kind of power do they have? And how do you hold them accountable? And are they doing a good job of holding themselves accountable? So, I mean, one thing to be said is that Harlan crow may be the greatest name for an American billionaire that you could possibly. I mean, I should say, you know, there are other right of sender pundits who have been entertained at Crowe's mansion or encountered him in various ways. I have as far as I know, no connections to Harlan crow. Excellent disclosure. I can disclose I have never gone on vacation with Harlan crow. We're picking a friends though, Ross. But you mean he should have, he should have taken man? No, you should have made different choices. I should have made that. I've known that for a long time, but I'm just saying you this opinion is not bought and paid for when I say that if I were writing an old fashioned pulpy 600 page novel about American politics and I were inventing a conservative billionaire, I would name him Harlan Crowe. So I think that's an important framework for the discussion. That's what really matters here. I think it's a sort of curious kind of scandal where most people, including most sensible people on the right of center, agree that there is something unseemly about the scale of sort of undisclosed largess involved in the crow Thomas relationship. At the same time, there's no actual quo alleged in any of this quit. It sort of 50% of a really big deal Supreme Court scandal where people keep looking for the case where Thomas has cast aside judicial ethics and nobody seems to have an example of that. So it's more as far as I can tell a story about unseemliness rather than actual alleged corruption. Yeah, but let's jump in right here and stipulate that that is very rarely what you're looking at in these situations. And with Thomas, in particular, it seems to be an accretion of perceived conflicts, including dealing with his wife, Jenny, who is this kind of on fire conservative activist who hobnobs with groups and people who have business before the court, but that said, I think it is important that we note that this is a nonpartisan broadly spread going back decades sort of problem, the entire court needs some guardrails clearly because these folks have confused their job of interpreting the law with being above the law. Well, I think that's right. And I think being a true believer and not actually basing your opinions on this, I think it doesn't give you a pass. Ethics exist for a reason, not just to prevent you from doing the wrong thing, but to prevent you from even appearing to have done the wrong thing. And the appearance of impropriety, I think, is just as important as the actuality of impropriety because sometimes it's hard to know the difference. That, of course, is completely separate, whether anything can actually be done about it. And to me, that's the bigger problem that we have is that we are living in a country that is so deeply divided and polarized with institutions that are meant to check and balance one another that are just fundamentally broken. And so there just is really no way to hold anything or anybody to account in this situation. So senator Durbin, the Democrat who chairs the judiciary committee in the Senate has invited chief justice Roberts to testify and Roberts's response was to say how unusual it is for chief justices to appear before the Senate. And he cited a few cases in which it had been for very kind of low stakes reasons. As if kind of the higher the stakes, the less accountability there should be. Then they released this very generic statement on ethics principles and practices. This very non binding surely we all agree that we're going to do the right thing. The lower court judges to the contrary are held to this thing called the guidelines of the judicial conference of the United States, which is binding on them, but not binding on the high court. And I think that gets to Lydia's question of how do we do this when there's no real mechanism in place to set sort of stricter guidelines for the justices and when the long-term understanding has been that they kind of do it themselves. Even recusal rules, when they decide to recuse themselves is totally up
ESPN Daily
"$ 1 million" Discussed on ESPN Daily
"No, he did not. Yet, Jordan was like, hey, it rules a rule and I do not sign autographs at my kids stuff. I'm here to see my kids and Don respected that. So what Jordan said was bring it down to my steakhouse and drop it off and I'll sign it down there sometime and so Don wave goodbye Jordan hopped in his car and he thanked him one more time for advocating on his behalf and Don's walking out there with this ball and he really felt like Michael Jordan's signature was he needed that. He was really wrestling with how important this ball was to him with the concept of just like walking to the front desk at this restaurant and being like, hi, can you get this autograph for me? And the fact that it was a basketball itself. Like this was a sport that he had kind of a tormented relationship with, you know? He had never technically played a lot of organized basketball and then the term organized basketball almost keeps him from his greatest achievement making this shot so he wrestled with it and like was he really going to do that? And the answer is yes, he was going to do exactly that. He needed Michael Jordan's signature. So he drove over there one day and he explained the deal to a person at the restaurant and I think it was like an assistant manager there and he said I really need MJ's signature on this. This is the most an artifact from the most important moment of my life and it must have worked because a few weeks later he got a call to come on over to the steakhouse, get the ball and the person said, hey, Michael signed it and he wishes you well. So right as we near this 30th anniversary, you got in touch with Don Calhoun. Where is he now? What's his life like? As much as I love the part of this story about this guy making a shot. My favorite part is the way that this story ends. Don's 53 now he has four children. He's still kind of lives a middle class life. He works a job in Chicago area. The checks stop coming in 2013, so he got the money from 1993 up through 2013. And the money really impacted his
ESPN Daily
"$ 1 million" Discussed on ESPN Daily
"So Ryan, you mentioned earlier how it was absolute mayhem in Chicago stadium after Don Calhoun hits his three quarter court shot. The crowd erupted, the bulls team erupted and Michael Jordan himself slept on the backside and said, good shot kid. What was the rest of that night like for dong? After he made the shot, he was asked to stick around and do interview after interview. This guy got interviewed more that night than any of the players. I wasn't thinking $1 million, not at all. I knew it was going in, but I still couldn't believe it. I tell you, it was just like life to me, just spontaneous. That's unbelievable. He was just going from camera set up to camera set up, and it was right outside the bulls locker room. And as he's doing these, bulls players keep popping in and out and they love this shot so much. I can't even express how happy they were. They just kept wandering over and saying, they wanted a piece of Don Calhoun themselves. And so they would say congratulations. And he had the basketball because the ref, one of the refs had come over and slapped him on the back and giving him the basketball that he had shot. So he was holding this and doing these interviews. And all the players kept coming over and hugging him handshakes, signing the basketball. So Calhoun, he got signatures from Horace Grant, Scottie Pippen, John paxson, BJ Armstrong, even a couple of the heat players from that night. And as he got ready to do it, one of his last live hits, he saw Jordan and a bulls worker come out and they were standing nearby and he made eye contact with MJ and MJ smiled at him and was he was clearly there waiting to talk to Don. I'm on the floor with MVC all the page in that news networks man got me through I'm doing interviews interviewing Jordan comes out of locker room. I'm telling you man, I was supposed to go over there and talk to Jordan to do a quick interview. And this lady was like, hey, Michael's over here. We're doing come on. And I was like, Don wanted to pull the head set off and just run from this 50th TV interview that he was about to do. But of course, he had a producer, he said this producer in my ear just kept saying, okay, we're live in 13 seconds, 12 seconds. Wait, wait, wait, okay, wait, it's gonna be 30 seconds. So he just kept getting delayed and MJ standing there and standing there and standing there and eventually he went live on camera and he did the best interview that he possibly could because his heart's broken as he saw Jordan whisper something to the bull's staffer and Jordan left. He'd gotten tired of waiting. And I probably seen him about 30 seconds about twice. He was gone, man. And I blew that opportunity because that reporter would tell me, okay, we can already go on live right now right now, right now I'm here. Sudan does this last deflating interview and he was just like realizing, oh, I'm not gonna meet, I'm not gonna beat Michael Jordan after all, and it crushed him. But he just had this feeling like maybe. Just maybe I will run into Michael Jordan somewhere down the road and then I'll get this autograph and I'll say hello to him. Yeah, like I live in Chicago, it's a city of neighbors. You run into people all the time, but I have a hard time imagining he's just gonna magically run into Michael Jordan. So how does he try to manifest this for himself? Well, for the next few months, he did not run into Michael Jordan at a gas station or anything. So it was going to take some planning and he'd heard from a friend Michael Jordan had kids that played basketball in the area in high school. And so he thought, what if I go to one of those games, you know? And so he found out about one of his son's games and he went to the game and he showed up with the basketball and he had two Sports Illustrated magazines which had covered the shot that Don had made and so he tried to walk up to Jordan and Jordan was in his own section with security kind of blocked off from everybody. Well, trying to watch the game. And security jumped right up and said, no, no, no, no, you're not coming up here. His security guy was like, well, Michael doesn't do anything when he's with his kids. And Calhoun said, just tell him I'm out here and I'll come up afterwards or stop, boy. Give him the ball. He's like, no, he doesn't do it. Michael has a firm policy, 100% no autographs at kids events. He just doesn't do that. And Don tried to explain, hey, I'm Don Calhoun. I'm the guy who made the $1 million shot in the security guys. No, sorry, no autographs. But as the game got near the end, a very unlikely thing happened in the stands. The same security guard came to Don and said, listen, Michael's going to walk out of here after the game. He's going to walk to his car. If you want to walk with him, you can. And Don got varied excited. This was going to be the culmination of that night at the bulls game. He got his ball, he got the sharpie ready, the magazine's ready, and sure enough, as the Jordan crew left the high school, they grabbed him, they swept him up and he did this short walk with Michael Jordan. And the first thing Jordan said to him was, did you get your money? And Calhoun said yes. First thing he said, you get your money. I go, yeah, I got it. They say, yeah, I know because we made them give it to you. We were upset. And then Jordan said something that really shocked him. Jordan said, we made them give it to you. We were upset that they were trying to not pay you. Wait, so MJ tells him we made them pay you. Like, what does that mean? What does DOM think of that? He was stunned. He'd heard rumors that part of the reason he ended up getting the money, the part of the reason why they had that press conference that we're going to take care of this was because the players themselves had loved a moment and hated that the headlines were swirling and maybe wasn't going to get paid. They were very agitated that this student might not get his money. And so this moment was Michael was sort of confirmation for him that Michael Jordan himself had helped make him a millionaire. I wanted further confirmation. I reached out to Jordan. I reached out to the bulls and everybody declined on giving me official comment and confirmation on this. So we're going with Don here, but I believe him. So Don gets to be MJ, and they're walking to his car, does Jordan sign the ball for Don in that moment?
ESPN Daily
"$ 1 million" Discussed on ESPN Daily
"So that brings us back to the night of the big shot. Again, it was a three quarter court shot for $1 million. How did a contest like this even come to fruition back in 1993? Well, one of the reasons I love this story was like, how do these work? Where did they come from? How do they work? And I found it to be very interesting. The money comes from the franchises, but it's through insurance. They find contest insurance companies. So the math on these contests is a little bit complicated. Let me use a very basic slimmed down example, which is let's say it's a three quarter court shot in the prize is a $100. They will sit down and look at a contest and they'll try to figure out the percentage chance that someone could achieve this contest. For a three quarter court shot, if we use that as an example, they think that's less than 1%. What an insurance company will do is they will take the prize amount, a $100 in this example, they'll figure out the chance of making it 1%, and then they double that to make sure they're making some money. So if it's a $100 contest that they think has a 1% chance of being completed, they will charge the team $2 every time they run it. So in the case of the bulls, that means every time the team wants to run a $1 million contest with a 1% success rate, the insurance company would charge the team $20,000 every time they run it. But if someone makes that miracle shot, that means that the insurance company would pay the entire $1 million prize. So this is a mega liability. Absolutely. That's why you don't see too many millions. You know, you'll see 50,000, you'll see a 100,000. You'll see 500,000. But the insurance companies, they're good at this. They know that even that 1% chance is just, if you insure it a hundred times to 20,000, they end up doubling their money. And so, you know, even these ones that are like, oh, I think I could make that shot. It's like, you probably can't. But he does. He does. And that's the craziest thing about this. In 1993, Don Calhoun makes the shot and is supposed to win a $1 million. But like any contest, there's some fine print, right? So what exactly is that fine print telling us? news insurance companies don't really want to pay ever. So the fine print is a little squishy. They use the term organized basketball. You can have played organized basketball if you're doing a basketball contest. And I probed what's the definition of organized basketball is Don Calhoun really organized basketball. He was three of 12 in community college. Is that organized basketball? Part of the contest was like if you played any organized ball within the past 5 years, the major energy for the contest. But they didn't, they knew I had played. They didn't think I was going to make the shot. It's a complicated thing. What if you were the best YMCA player for ten years, you know? And you got called down to the court. Is that organized basketball? Calhoun says he put on the form that I played basketball three years earlier, I played at these two community colleges. I played some games, and he said it was no big deal. They signed him up and gave him the T-shirt and he was ready to compete. That changed after he made the shot. The insurance company disagreed that he had not played organized basketball. They considered it organized basketball and after he won news reports began to circulate in Chicago that despite making that shot in front of all those thousands of people, Don Calhoun might not be getting the money. So what happens next? Well, that's really bad PR. So as that was sort of getting sorted out, the bulls held their own press conference. Calhoun stopped beside Jerry reinsdorf. It was broadcast lots of people watched it. This was back when everybody watched the nightly news and got the newspaper every day. And so they wanted to very emphatically say he will be getting the $1 million. And he got his first of 20 annual $50,000 payments. It was not $1 million check. It was 20 years in a row getting 50,000. And after that, his life did change. In the next few weeks, he was on a tonight show a bunch of other TV shows. He got a cup of coffee as a member of the Harlem globetrotters, played a bunch of hoops with them. He was the unofficial mayor of Chicago for a brief period. Everybody knew Don Calhoun. When they hold that press conference zone, they say they're going to pay him and he's going to get his first payment. Who exactly is funding it? Well, he ended up not getting many details about how the sponsors and the insurance company worked it out. He just didn't care. He just took yes for an answer. I think the leader in the Clubhouse, theory is that the bulls and Coca-Cola and another sponsor ended up just paying it themselves. What he did know, though, is that a few weeks later, he would find out that he may have gotten a key assist from a secret source that he never would have expected, which is Michael Jordan himself. Coming up, how his airness helped Don Calhoun get paid. Baseball is back. Get your ballpark on with tickets from vivid seats. Or enjoy hockey and basketball in all their glory with courtside seats. Whoever you're rooting for, there's nothing like the thrill of seeing your favorite team live. Vivid seats, the official ticketing partner of ESPN is offering you $10 off your first $100 ticket purchase with the code daily. That's code daily. Download the app or visit vivid seats dot com today. Vivid seats life happens live. We all know that breakfast is an important part of your day. 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ESPN Daily
"$ 1 million" Discussed on ESPN Daily
"Hey there, I'm Emily Kaplan. Yes, you're probably wondering what I'm doing from out of my usual spot. Dodging pucks and grabbing cliches, ringside at NHL games. Don't worry, that's not going anywhere. But you are going to be hearing different voices hosting ESPN daily in the coming weeks. And I'm one of them. I'll be with you the rest of the week, helping this podcast do what it's always done. Tell the best sports stories and audio day in and day out. Thanks for listening. Ryan Hawkins Smith, I want you to take us back to April 14th, 1993. It's almost 30 years ago to the day at the late great Chicago stadium, which was home to the Chicago Bulls before the united center. What happened that evening? Well, in that night, a young office supplies salesman then Don Calhoun, he was only 23 years old. He went to the bulls game, he hustled in and on his way in. Some workers at the arena grabbed him and said, hey, do you want to sign up for this contest? You have to take a three quarter court shot. If you make it, you win a $1 million. You're like, hey, hey, would you like to take the $1 million shot tonight? And I was like, huh? She was like, well, all you got to do is you sign this waiver here, just to get you down to the floor. It's a contest. One shot from three quarters court, if you make it, you win a $1 million. And the bulls have been running this contest, they ran at 19 times before that night. No one had come close. Two people clunked the backboard, one or two hit the rim. Everything else was an air ball. The estimate of someone like Don Calhoun making that shot is actually less than 1%. The only thing he remembers as he got ready came down to the court was someone saying whatever you do do not touch the free throw line. Don't cross over the free throw line. So I'll get out there and she goes, all you have to do, take a shoot down there, don't cross this free throw line. I'm like, here I am at Chicago stadium. I got this thing. I'm going to go down to the floor and take a shot for a $1 million. I said, Michael Jordan's house. As he got ready for this shot in front of this entire roaring crowd. He felt this weird calm come over him. And it's because he was thinking about his brother, clarence. He took one fast dribble, and he thought to himself, this one's for clarence. I take the dribble, and I say this is on clarence and everything. And I threw it. And then he threw a missile the entire length of the court. And I remember the force of the throne pulling me forward and my right foot landed just behind the line. And the ball went. And I'm watching it. And I'm like, it's gonna hit the shot clock. But no, it sells right below it. And then it just dropped. Jeff young man being hugged has just won a $1 million here in Chicago stadium. The crowd goes crazy. He raises his arms up in the air and then he ends up getting swallowed into this bulls huddle. They are ecstatic. It's absolute mayhem for 30 seconds. It looks like they just won their tenth title in a row. Calhoun is just getting bumped, pushed around. People are yelling at him, and he found himself at the end, just directly in the middle of the bull's huddle. He was like the 13th man on the team. The sea kind of parted of all the other bulls players, and there stood Michael Jordan himself. I promise you man, everybody just departed to the left and to the right. And you can see the Michael Jordan was standing right down there with the at the end with his hands up. Going, whoo. Like this, both hands up. And I gave the guy high 5 bro and I turned around and he smacked me on the bus hit shot, kid. Jordan ends up yelling at him, smacking him on the butt, telling him it was a great shot, and it's actually like a really fun moment. Don Calhoun felt like his life had changed. And it did change that night. And he was the toast of Chicago for the next 24 hours, but he was the toast of the country. Don Calhoun from way way downtown. A $1 million. At half time in the bulls game a promotion, he walks into Chicago stadium and somebody pulls him over and says, you're going to get a shot halftime for a $1 million. He says the woman who chose the contestants picked him because she quote liked his shoes. Every major newspaper, lots of TV newscasts at the time, all ran this clip of Don Calhoun making this shot. Funny for us this evening, the $1 million basket. There's no doubt in our mind whatsoever that you may have heard or seen this story already today. But we reckon some things are worth savoring. Don Calhoun was plucked from the stands at the Chicago Bulls basketball game last night, handed a ball and told to shoot. And he nailed it. And he was a millionaire. Or so he thought.
Thinking Crypto News & Interviews
"$ 1 million" Discussed on Thinking Crypto News & Interviews
"Once again, if you put some common sense here, you put your emotions to decide. I don't Bitcoin to a $1 million and 90 days, right? Your gut just says, nah, that's not right. And that would that be like a three 3600 percent increase from 26 Orwell's right now is at $27,000, increased to a million bucks. I don't buy it. But I will happily Apple be wrong because I hold Bitcoin to hold other crypto. Bitcoin moves, you also move as well, and if all that capital comes in, then I will be filthy rich. But like I said, guys, 90%, no 10%, yes, right? We'll see what happens. I would love to hear what you guys think, but look, like I said, Bellagio, sharing some really solid facts. I think the premise as to why Bitcoin could go to a $1 million, but the 90 day window is what? Throws me off, not in 90 days. Maybe in ten to 15 years from now. I think that's possible to a million. You really have to wrap your head around that a $1 million. And all the headwinds we're facing right now in the crypto industry. I don't think so and CBDC is coming. I don't think so guys. But certainly happy to be wrong here. Now, some thoughts here by Benjamin Cohen, who's a well-known analyst, he has a big YouTube channel. He shared some great, a great statistic here, which shows that all these things are moving towards Bitcoin's retracement. He shared a chart which is called a stablecoin supply ratio oscillator. He said the stablecoin supply ratio oscillator just reached the peak level it reached in 2019. Note that from this level in 2019, Bitcoin moved up one last time before kicking off a new downtrend that lasted for about 9 months. And that's what we're expecting guys. This is a chart I've been sharing with you guys for a year now. The repeat of a similar pattern to 2019, then I roll over to test the lows again and a slow steady grind into 2024, the Bitcoin having, then it slows that he move up for the bull run after having. Like we've seen historically. So he says, just remember, oftentimes in recovery years, 2015, 2019 and now 2023, we tend to get ahead of ourselves and calls for new all time highs will pop up. Typically though, especially during the latter half of the year, the market comes back down back to earth. So he's right. So balaji and some of these people who are calling for new all time highs this year. Look, I will gladly be wrong, but the history, the data, the trend, does not confirm that. Does not tell that story, right? And I think the four year cycles and the having, that's the standard. Doesn't mean it can't change, but I don't think no new all time highs are coming this year. I think 2025 is one we see to all time highs. But like I said, I will gladly be wrong because I'm here to make money and if it happens this year, then that will be great, but once again, it's about probabilities. There's a high probability. It does not happen or go to new all time highs. Now, another analyst shared an update here on the altcoin market and we've talked about Bitcoin continues its move upwards, what we've seen historically to capital will flow from Bitcoin to the altcoins. He said, update on the altcoin market, as mentioned ten days ago, the moving average 200 is holding excellently and we even had a retest of the breakout from