0:00

In today's show, Bitcoin price gets $36,000

0:03

FOMC target as Bitcoin prints a 29%.

0:07

October gains as we enter moonvember.

0:09

Send it and let's go. Also in

0:11

today's show, quitting Max Keiser, Bitcoin

0:14

is up over 100% since my interview

0:16

with Daniela Cambone nine months ago. Gold

0:19

unchanged. I wish I could sugarcoat the truth,

0:21

but the harsh truth is Bitcoin is demonetizing

0:23

gold. For every $1 move up in gold,

0:26

we'll average a $20 move in

0:28

Bitcoin per each. Also in

0:30

today's show, that's fraud, says

0:33

prosecutors and closing arguments

0:35

at the Sanbankman-freed trial. I'll be

0:37

sharing the latest updates with you here. Also,

0:40

Coinbase launches a regulated crypto

0:42

futures service for U.S. retail

0:44

traders. That's right. Also, PayPal

0:47

scores UK crypto license after

0:49

a brief local Bitcoin buy

0:51

halt. Also going to be sharing with you Invesco

0:54

Galaxy's spot Bitcoin ETF joins

0:56

BlackRock officially on the DTCC

0:59

site. And speaking of spot Bitcoin

1:01

ETFs, Fidelity revives their

1:04

Bitcoin ETF app. I'll be breaking this down

1:06

for you. Also, they recently published

1:08

a report explaining 10 reasons

1:11

why you should consider buying Bitcoin. This

1:13

is a pretty big deal considering it's a four and a half

1:15

trillion dollar asset manager with 43

1:17

million investors trusting

1:20

Fidelity. Also be sharing their $1 billion

1:23

Bitcoin price prediction. We'll also be taking

1:25

a look at the overall crypto market. All this

1:27

plus so much more in

1:29

today's show.

1:37

Yo, what's good, crypto fam? This is first

1:39

and foremost, a video show. So if you want

1:41

the full premium experience with video,

1:44

visit my YouTube channel at CryptoNewsAlerts.net.

1:47

Again, that's CryptoNewsAlerts.net.

1:51

And welcome everyone to today's

1:53

episode. This is podcast episode 1448.

1:56

I'm your host, JV, and today is November 1st, 2023. So

1:59

let's.

1:59

off today's show as we do each

2:02

and every day with our market

2:04

watch, shall we? Let's check it out. As

2:06

you can see here, we got Bitcoin up 0.4% for

2:09

the day. And in the green, currently

2:11

trading above $34,500. We

2:14

have Solana, one of the biggest breakaways

2:16

in the top 10. I believe it's up now

2:19

16%, trading just under $42. And

2:22

checking out, again, I say when in doubt, zoom

2:24

out. So forget the performance for the past

2:26

day. Let's check out the performance for the past

2:29

week. We're up 2% for

2:31

BTC, a little stagnant, but

2:33

nonetheless, still a gain. And if we check

2:35

out the performances over the past

2:37

month, here's where things get exciting. You can see

2:40

October, absolutely didn't disappoint, 23.5%

2:44

gains for the King Crypto, 5% gains

2:47

for Ethereum. But notice Bitcoin clearly

2:49

leading the pack, minus Solana.

2:51

Solana's up 75% for

2:53

the month. Good Lord. And checking out CoinMarketCap.com,

2:57

the current crypto market cap sits just shy

2:59

of $1.3 trillion. So it's also on the

3:02

rise with roughly $45 billion

3:04

in volume in the past 24 hours. Bitcoin

3:07

dominance took a little leap back, currently

3:09

at 52.5% after tapping 53% earlier in the week. And we

3:11

have the Ether dominance

3:15

at 17.1%. And checking out the top 100 crypto

3:17

gainers of the past 24 hours, Nero Protocol

3:21

leading the pack up 16.5%, trading at $1.52, followed by Solana

3:24

up 16%, trading at above $42, followed

3:28

by QTUM up 13%, trading at $3.47. And let's just check

3:30

out these market caps for a

3:37

second. Let's check out the 24-hour

3:41

volume. Tether is leading the pack here.

3:43

Holy moly, it looks like $34 billion.

3:46

If I'm pronouncing that number correctly,

3:48

it gets a little confusing when you see so many

3:51

repetitive commas, but I think that is correct.

3:54

Followed by Bitcoin with roughly $19 billion

3:57

in volume, which is roughly $550. 50,000 BTC

4:02

and checking out crypto bubbles we can

4:04

see the top performers in the crypto market

4:07

for the day Massive green we

4:09

love to see this that means the altcoin market

4:11

is currently Pumping and if we switch

4:13

it over to the weekly a lot in the green

4:15

we switch it over to the monthly massively in

4:17

the green We check out for the yearly we got

4:20

some major gainers in the market cap plus the

4:22

week We can still see Bitcoin in

4:24

the green and checking out the crypto green and fear

4:26

index We're currently rated at 66 same

4:29

as yesterday in greed last week

4:31

at 72 and last month a 50

4:34

which is Neutral so there you

4:36

have it crypto fam Let's kick things

4:38

into high gear and look into today's

4:40

Bitcoin technical analysis Check out the

4:42

charts where the king crypto is likely

4:45

to go next as we continue the pumpage

4:47

into Moonvember here we go.

4:49

Check out this chart on the one month Bitcoin

4:52

has seen its highest monthly close since May 2022

4:55

After October delivered almost 30% Bitcoin

4:58

price gains imagine moonvember

5:01

another 30% Just saying

5:03

be prepared fam data from coin

5:05

telegraph and trading view confirms the Bitcoin bulls

5:08

had successfully held to the upside into

5:11

November 1st get damn straight after

5:13

navigating the choppy mid-month trading environment

5:15

huddlers were treated to a Finale

5:17

similar in character to October's initial

5:20

breakout monitoring resource coin

5:22

last thus put October as the second

5:24

best performing month of 2023 Bitcoin gained 28 and

5:27

a half percent trading trailing

5:30

only January 39.6% so

5:34

overall it's been a hell of a year over a hundred

5:36

percent year to date I mean

5:38

reacting we had blunts what a great

5:41

username by the way Cautioned over discounting

5:43

what amounts to a high time frame weekly range

5:45

breakout quoting him here I believe the current

5:48

one will be akin to the October 2021 and

5:51

the April 2019 one he

5:53

wrote on X and in both scenarios

5:55

Bitcoin entered a new bullish phase which straight upside

5:58

lasting several months outline here

6:01

in these charts. Shout out to Blunt. Now

6:03

striking a similar note fellow, trading

6:05

personality mustache eyed the TK

6:07

crossover indicator for a rare bull

6:10

market trigger. TK crossover,

6:12

it gets the name from a trading signal

6:15

on the Imichoku.

6:18

I'm sorry if I'm pronouncing that wrong. And it

6:20

involves two of its trend lines. We have the

6:22

Tenkin Sen and the Kijun

6:24

Sen produced a once in a cycle

6:27

full flag at the monthly close.

6:29

As he shares here on crypto Twitter

6:32

and on a slightly more conservative note, we got

6:34

on chain monitoring resource material indicators

6:36

suggesting the bullish momentum while still present

6:39

is waning compared to last month as

6:41

he shares here still waiting for a recess of 33,000.

6:43

Although we may not see

6:45

it until after an attempt at 36, I'd

6:48

love to know your thoughts. Meanwhile, volatility

6:51

remains on the menu for the market participants

6:53

with the week's main macro economic event

6:56

due later in the day. This comes in the

6:58

form of the US said announcing its interest

7:00

rate policy amid a testing inflation environment.

7:02

Let me know if these numbers came in yet fam. Now

7:05

Fed Chairman Jerome Powell is going to deliver

7:07

this speech and hold the conference. So I am curious,

7:10

did this conference take place? And if so,

7:12

what are the numbers? Please let me know in the chat.

7:14

And according to the latest data from the CME Group's

7:17

FedWatch tool, the odds of that eventually

7:19

currently lie nearly at 98%

7:22

and commenting on the potential knock on effects

7:24

for the Bitcoin price action. Crypto Tony

7:26

shared the following more volatility

7:29

and more movements as the talk begins

7:31

and the data is released. I personally expect

7:33

a pause and no hikes. So I expect we see

7:36

a $36,000 hit on this data following

7:38

a fake out down first. He added

7:41

joining calls for a tap of the $36,000 mark.

7:45

And now let's share some thoughts from Max

7:47

Kaiser. How many of you watched

7:49

that interview he did at the end

7:51

of last year with Stansberry Research, Daniela

7:54

Cambone, and he was predicting Bitcoin

7:56

targets and talking about gold. And

7:58

lo and behold, He reminds us here,

8:01

Bitcoin is up 100% since my interview with

8:03

Daniela nine months ago. Gold, unchanged.

8:06

I wish I can sugar coat the truth, but the harsh

8:08

truth is Bitcoin is demonetizing

8:10

gold. So for every $1 move up

8:12

in gold, we'll average a $20 move

8:15

in Bitcoin. Preach fam. He

8:17

also, when he was interviewed with

8:20

Alex Jones on the Alex Jones show, he recently made

8:22

this prediction as well. All fiat money

8:24

in gold eventually goes to effectively zero

8:27

against Bitcoin because it's demonetizing gold.

8:29

The same way gold demonetized silver, Bitcoin

8:31

will be demonetizing gold, and it is

8:33

in real time. So sure, gold will go

8:36

to maybe two to three to $4,000

8:38

an ounce, but we're talking about Bitcoin eventually

8:40

going to five to $10 million per coin. So

8:43

your purchasing power and gold terms

8:45

is almost basically nothing compared

8:48

to what's happening in Bitcoin. That's

8:50

right, because Bitcoin is the apex predator

8:53

and all commodities, all

8:55

assets and all fiat currencies

8:58

eventually go to zero against BTC.

9:00

All right, fam, let's break down our next story of the

9:02

day. Did you know the SPF trial has

9:04

officially ended? And here were the closing

9:06

arguments shared in the court from

9:09

which Sam Bankman freed. I can't wait

9:11

to see the updated pictures with the new do. They

9:13

say he finally cut the fro. You know

9:16

what I mean? SPF trial entered the final

9:18

stages with the prosecution, delivering

9:20

closing arguments in the case on November 1st,

9:23

which is today. Closing arguments

9:25

are the last opportunity for lawyers to convince

9:27

the jury and the judge that they should win

9:29

the case. Prosecutors had previously

9:31

estimated that their closing arguments would take up to

9:33

four hours. And right after Bankman Freed's

9:35

defense also presents its closing

9:38

arguments, quoting them here, that's fraud.

9:40

It's stealing, plain and simple. Before

9:43

FTX, there was Alameda, the assistant

9:45

United States attorney reportedly told

9:47

jurors presenting one of the many charts

9:50

the government used as evidence. The

9:52

former CEO of FTX is facing seven

9:54

counts of fraud and conspiracy

9:56

to commit fraud. Bankman Freed can serve

9:58

up to 115. years in prison

10:01

if convicted and if he doesn't get

10:03

pardoned by sleepy Joe Biden, just saying

10:06

a jury of 12 will decide his fate

10:08

in the coming days. And as part of the prosecution's

10:11

case against Bankman Freed, nearly 20 witnesses

10:13

have testified that he allegedly deceived

10:16

investors, customers, and partners

10:18

of FTX while co-mingling funds

10:21

with Alameda Research. Quoting them here, the

10:23

defendants set up two separate ways.

10:25

You believe even one of the three

10:28

cooperators, the defendant, is guilty. An

10:30

unlimited line of credit just means unlimited

10:33

money from FTX. Ellison told you

10:35

he directed us. Gary Wang

10:37

said the same thing. The defense, on the other

10:40

hand, tried to present Bankman Freed as

10:42

an entrepreneur who just made some terrible

10:44

mistakes, but in good faith, denying

10:47

the accusations he directed is in our circle

10:49

to make political contributions, as we know

10:51

he was the second largest donor to

10:54

Biden's Democratic Party. He also

10:56

had venture investments and the purchase

10:58

of luxury real estate with customer funds.

11:01

That's right. His parents were profiting tremendously

11:03

off of that real estate in the Bahamas. Now,

11:05

Bankman Freed's defense faces a tough challenge

11:08

in persuading the jurors, I'd say that again, that

11:10

he is innocent of the charges as the government

11:12

presented extensive evidence, including

11:15

testimony from the officials and law enforcement

11:17

agents involved in the case. Here's what they shared.

11:20

The defendant marketed the liquidation engine,

11:22

saying FTX was safe. He

11:24

told Congress collateral must be placed

11:26

on the platform itself, not just pledged,

11:29

but the secret rules allowed Alameda

11:31

to borrow billions without any risk of

11:34

being liquidated. That's right. They

11:36

were stealing your phone, spam, stealing your crypto. Fan

11:38

Bankman Freed's trial had been taking place in

11:40

the Southern District Court of Manhattan

11:42

since October 3rd, and we should

11:44

be getting a verdict here in the next week or

11:46

two, so I'll be keeping you posted with

11:48

the latest updates. Now for the million dollar question,

11:51

what do you think will become the outcome

11:54

of all of this? Obviously,

11:56

he's going to have to face some consequences

11:59

if he is found guilty. He's one of the seven

12:01

fraudulent charges, but how do you feel it'll

12:04

likely play out? Do you think they

12:06

may place the blame on the executives

12:08

that testified against him like Gary Wang

12:11

and Caroline Ellison? All right, fam.

12:13

Now, let's discuss the latest updates with Coinbase

12:15

in the United States launching some Future

12:18

services for retail traders. Here

12:21

we go. Coinbase advance allows

12:24

retail traders in the US access to regulated

12:27

crypto future contracts four months after

12:29

Coinbase financial market secured the approval

12:31

to operate a futures commission merchant

12:34

entity So why is the regulators

12:36

and the SEC allowing all of these

12:38

future products, but no spot ETF?

12:41

Something sounds fishy wouldn't you agree on

12:44

August 17th? The CFM secured

12:46

regulatory approval from the National Futures

12:48

Association a commodity futures

12:51

trading commission designated of

12:53

self regulatory organization to operate

12:55

a FCM and to offer crypto

12:57

future services to eligible US

13:00

traders and buy a show of hands in the chat How

13:02

many of you have used coinbase as an exchange

13:04

and how many of you are familiar with coinbase?

13:07

Advanced let me know fam and in details

13:09

shared with coin telegraph the CFM revealed

13:12

the coinbase advanced customers in the US can

13:14

now trade Nano sized future

13:17

contracts sized at 1 1 hundredth

13:19

of one Bitcoin Interesting and 1

13:22

1 tenth of one ether as explained

13:25

here by Andrew Sears the CEO

13:27

a CFM putting him here These contracts

13:30

offer lower upfront capital requirements

13:32

and can be an affordable investment option for

13:34

a broader range of retail customers

13:37

Now the nano ether contract allows

13:39

participants to manage the risk trade on margin

13:41

or speculate on the price of aetherium The

13:44

nano Bitcoin contract allows users

13:46

to bet on the future price a BTC

13:49

and in addition to providing regulated Leveraged

13:51

and cash settled crypto futures users

13:54

will be provided access to a library

13:56

of educational content via coinbase

13:58

learn US residents with an

14:00

active Coinbase account for spot trading are

14:03

eligible to create an FCM

14:05

futures account. How many of you even trade futures

14:08

to begin with? Let me know. The services have

14:10

been launched on the web version and will soon be

14:12

available on all mobile devices. Coinbase's

14:15

decision to launch crypto future services

14:17

seem natural as the exchange witnessed

14:19

a sharp decline in spot trading

14:22

volume this year compared to 2022.

14:25

Now, an analysis from digital asset provider

14:27

CC data showed Coinbase registered

14:30

roughly $76 billion worth

14:32

of spot trading volume, a 52% drop

14:34

in spot trading for quarter three of this

14:37

year compared to the same period in 2022.

14:40

So despite the decline in spot trading volume,

14:43

Coinbase gained market share in the last

14:45

quarter as the crypto exchange finance

14:47

came under increased scrutiny from

14:49

regulators. So there you have it, fam. I'm

14:52

curious. Let me know in the chat out of all the crypto

14:54

exchanges out there, which one? Has

14:57

your trust? Which exchange are you most

14:59

likely to use? And shout out to digital

15:01

dankness. He just released a video the other

15:04

day on the top five crypto exchanges in

15:06

the United States, and he even breaks down fee

15:09

wise, which ones have the lowest fees.

15:11

So I would encourage you all to check that out

15:13

over on coin IQ. It's a great,

15:16

great video. Personally,

15:18

Coinbase we all know is the largest crypto

15:20

exchange in the United States. We know Binance is

15:22

the largest crypto exchange in the world. Other

15:25

big candidates to check into would

15:27

be Gemini, which is owned by the Winklevoss twins.

15:29

And then we also have Kraken, which is an

15:32

OG crypto exchange. And now

15:34

there's a lot of other options and ways to buy

15:36

and, you know, acquire BTC

15:38

and stack stats. You have the cash app, you

15:41

can now do so on PayPal. I don't trust PayPal

15:43

as far as I can throw them. You have swan,

15:45

but there's a lot of options now, which is cool. Nathan

15:48

Roth points out strike. That's another great

15:50

way to buy some BTC. Shout out to Jack Mallers.

15:53

Yaheem Stone says no futures. Amen

15:55

to that. Futures will get you rekt.

15:58

Futures is for the DGNs. or the very

16:00

advanced traders that like to risk

16:03

a lot and have a high risk tolerance. If

16:05

you don't have a high risk tolerance and you don't like gambling

16:07

and you don't consider yourself a D gen, I would

16:10

just stick to the underlying asset.

16:12

You know what I mean? Eddie says, BIC one is pumping you

16:14

damn straight because we live. That's

16:17

what we do. You know what I mean? 34,800 incoming. Let's

16:21

see if we can get the 35 Gs before the

16:24

end of the show. That would be lit. I agree,

16:26

Jack. Don't trust the Z either

16:28

for some unknown reason. Hoddle

16:31

and Chills is Dutch hoddler. You got that right. Nel

16:34

though, what'd it do? Exchange only is good for buying

16:36

Bitcoin and moving it to cold storage

16:38

or trading your altcoins for Bitcoin

16:41

is another reason to use an exchange, right? JV,

16:43

thank you so much for all your efforts.

16:45

You're a great hero. Thank you, young Ryu.

16:48

Again, Ryu is my favorite street fighter growing

16:50

up. So much love, much respect. How you

16:52

looking? Like

16:55

us for the OGs, only for the King, BTC.

16:58

That's right, Nathan Roth. That's what's up. You

17:00

are crazy. Thank you for the compliment. It's

17:03

cracking non-KYC. No, unfortunately,

17:05

all the major centralized exchanges require

17:08

KYC. It's just the reality.

17:10

You got to check into some decentralized

17:13

exchanges, DEXs. That's

17:15

where you can get away with no KYC. You

17:17

know what I mean? I'm back, people.

17:20

What up? What up? Welcome back, Sherry

17:22

Young. Appreciate you. Great. Send

17:25

it, fam. Let's go. All right,

17:27

guys. Let's dive into our next story of the day. This is

17:29

breaking news coming out of PayPal. They

17:32

just started offering UK

17:35

investors or they just got their

17:37

crypto license in the UK. So

17:40

investors in the UK will be able to get Bitcoin from

17:42

PayPal soon. Global payments giant PayPal

17:44

received the approval from the Financial Conduct Authority

17:47

to offer crypto services in the United

17:49

Kingdom. How many of you are in the UK

17:51

or even in Europe? Let me know in that chat. According

17:53

to the official data, PayPal has been registered

17:56

to offer certain crypto asset activities in

17:58

the UK since October 31.

17:59

first, 2023.

18:01

That's as of yesterday, fam. So this is brand

18:03

new. According to the register, PayPal

18:06

has requirements or restrictions placed

18:08

on the financial services activities that it can

18:10

operate. Quoting them here, this includes,

18:12

but it's not limited to seizing onboarding

18:15

new customers and restricting existing customers

18:17

to hold and sell functionality. The firm cannot

18:19

expand its current offering in crypto

18:22

assets. The register notes adding it's

18:24

including but not limited to crypto exchange

18:26

services, participation and initial

18:28

coin offerings. We know as ICOs staking

18:31

peer to peer exchanges and decentralized finance

18:33

activities such as lending and

18:35

borrowing. PayPal reportedly became

18:37

the fourth firm to receive the FCA crypto

18:40

registration in 2023 after

18:42

interactive brokers, bit stamp and

18:44

come on you. The license acquisition comes

18:47

shortly after PayPal briefly paused

18:49

the ability for its UK customers

18:51

by cryptos like Bitcoin in early

18:53

October. That sucks right now. I guess

18:55

you guys couldn't buy Bitcoin. But

18:57

all that looks like it has changed. The United

19:00

Kingdom has been noticeably emerging

19:02

as major crypto economy. And according to

19:04

an October 2023 report by

19:06

blockchain analytics firm Chainalysis, the

19:08

UK is the biggest crypto country

19:11

in terms of raw transaction volume and central

19:13

northern and Western Europe. And according to

19:15

the study by a crypto tax platform recap,

19:18

London was the world's most crypto ready city

19:20

for business in February 2023. Wow, I

19:23

didn't know that. So

19:25

it seems London is very crypto

19:27

friendly, or at least moving that way. And another

19:29

sign of that is this license that PayPal

19:32

has received for the people in

19:34

the UK. Next up, let's discuss this

19:36

new Bitcoin ETF filing, which

19:38

has just taken place coming from Invesco

19:41

Galaxy, another major asset

19:44

manager, check it out. The ticker for

19:46

Invesco and Galaxy spot Bitcoin ETF

19:49

is BT CO. It has

19:51

appeared on the Depository Trust and Clearing

19:53

Corporation website, which for short, we say

19:56

the DTCC marking

19:58

a step forward in the application process. for

20:00

the two asset managers. As

20:02

you can see here in your screen, this shows you the Invesco

20:04

Galaxy Bitcoin listed on the DTCC

20:07

site. The ETF has been added to the

20:09

list sometime in the last six days

20:11

with the Web Archiver Wayback

20:13

Machine showing no listing under the ticker,

20:16

BTCO, was present on October

20:18

25th. That means it was in the last week. A

20:20

ticker added to the list of ETF products

20:23

on the DTCC site is not a

20:25

guarantee of future approval of the product,

20:27

so keep that in mind, but we all know it's incoming.

20:30

A DTCC spokesperson said, it

20:32

is standard practice for the DTCC

20:34

to add securities to the NSCC

20:37

security eligibility file and prep

20:39

for the launch of the new ETF to the market.

20:41

Putting them here, appearing on the list, it is

20:44

not indicative of an outcome for any

20:46

outstanding regulatory or other approval

20:49

process. I guess they have to share their disclaimers,

20:51

right? Anyways, the application for the

20:53

joint spot Bitcoin ETF managed by global investment

20:56

firm Invesco and crypto asset

20:58

fund Galaxy Digital was reactivated

21:00

on June 21st as pointed out here by ETF

21:03

analyst of Bloomberg Eric Valtunas.

21:06

And now Invesco had reactivated their 19B4 for

21:08

their spot ETF.

21:11

So the move to relodge the app with

21:13

the SEC came amid

21:16

a tidal wave of similar filings for spot

21:18

Bitcoin ETF products brought about by investment

21:20

giant BlackRock, which we know is the largest asset

21:22

manager in the world, lodging its landmark

21:25

application for the spot Bitcoin ETF

21:27

on June 15th. So there you have

21:29

it, fam. Another one bites the dust. Hopefully it's

21:31

like the domino effect. They all get the green light

21:34

at the same time. But the million dollar question

21:36

right now, when do we get the approval

21:38

of the spot ETF? And will

21:40

it be all of them getting the approval in the green

21:43

light or will it be one and then another

21:45

slowly after the other? And which one do you think

21:48

will get the first movers advantage? Personally,

21:51

here are the top prospects. We got BlackRock,

21:54

largest asset manager in the world, they

21:56

kind of run the world. So there's a good probability

21:58

of not only is their ETF. approved

22:00

but they may get the first movers advantage. Another

22:03

one that has that possibility is the

22:05

GBTC product which is grayscale.

22:08

Their parent company is Genesis because

22:11

they recently won the lawsuit against the SEC

22:13

and I believe they are going to have to

22:15

react and make a decision very

22:17

soon. And so who knows they may have

22:19

the first movers advantage. They're already holding the

22:22

underlying asset because their trust currently

22:24

holds over 600,000 BTC

22:27

making them the largest huddler of Bitcoin

22:30

in the world. Another prospect for

22:32

the first mover advantage is ARK21

22:35

which is virtually Cathie

22:37

Wood's company because she says she

22:40

gets the response first. They have the due

22:42

date I believe it is January 10th

22:45

which is the deadline for the SEC. So

22:48

more than likely one of them are going to get

22:50

approved and it could even be another one that

22:52

I'm not even mentioning right now or

22:54

it could just be like yo they're all approved and

22:56

if that approval while we're still pumping we're

22:59

about to hit 34.9. I should be

23:01

doing a pump party right now. I'm excited

23:03

if you can't tell but we're about to break 35,000 or in today's

23:06

live let's freaking go. All right

23:08

now let's break down our featured story of

23:10

the day and discuss the latest from

23:13

Fidelity one of the world's largest asset

23:15

managers. They control four and a half trillion

23:17

in assets under management. They have a massive

23:20

amount of investors something of the sum

23:22

like 80 million something

23:24

while right maybe even more than that.

23:26

I got to look at the numbers here. Let me actually

23:29

see here. It's actually I'm

23:31

sorry 43 million investors currently

23:33

trust in Fidelity. So this is

23:35

a major player and their

23:37

head of macro is predicting a one

23:40

billion dollar Bitcoin price

23:42

target. Also they just recently updated

23:44

their Bitcoin ETF application

23:46

as well. So let's break all this down. Welcome

23:49

everyone in the live chat. Send that mofo above 35,000

23:51

dollars. Shall we and let's

23:53

freaking go. All right guys here we go. Let's

23:56

start right here. Fidelity revives

23:58

their Bitcoin ETF. Let's break. baby

24:00

down. ETFs, as we all know, are

24:02

investment funds users can buy and sell on

24:04

stock exchanges similar to individual stocks,

24:07

allowing traders to invest in a variety of assets,

24:09

including stocks, bonds, and in this case, the

24:11

king crypto, Bitcoin. ETFs

24:14

are designed to follow the performance of a specific

24:16

index, asset, or a commodity. Bitcoin

24:18

is getting more popular, as we know, and traditional

24:21

investors and asset managers are eager to introduce

24:23

Bitcoin ETFs to the market. We

24:25

can't wait. Bitcoin ETFs would let the investors

24:28

get involved with the famous crypto without actually

24:31

owning it. This makes it easier for traditional

24:33

investors to join the crypto game. Now

24:36

Fidelity, the highly respected name

24:38

in finance, has made a big move by updating

24:41

its app. Fidelity's recent ETF

24:43

update pays special attention to reducing the

24:45

risks associated with Bitcoin ETFs. The

24:47

crypto market is known for the price swings, which

24:49

we call volatility, and Fidelity understands

24:52

the potential impact on investors. Addressing

24:54

these risks is crucial to making a Bitcoin ETF

24:57

work well and last long. Now the crypto

24:59

community has been awaiting eagerly

25:01

for the Bitcoin ETF to become a reality for years.

25:04

To say the least, it's been over a decade, fam. Even

25:06

though the US SEC had rejected previous

25:08

apps, the desire for an ETF tracking Bitcoin

25:11

remains stronger than ever. A Bitcoin

25:13

ETF offers a more stable and regulated

25:15

way for the investors to join the crypto world.

25:18

If you're not familiar with ETFs, they are like

25:20

investment funds, only this

25:22

is what the bigwigs use to get

25:25

their positions in Bitcoin. I must point

25:27

out as well clearly that

25:30

average day-to-day investors, we don't need

25:33

ETFs. We can just go on any crypto exchange and

25:35

buy the underlying asset. This is for the big

25:37

guys. This is for the billion dollar

25:39

asset managers. This is for the trillion dollar

25:42

asset managers. This is for the companies

25:44

worth hundreds of millions of dollars.

25:46

The companies that are unable to invest

25:49

in the Bitcoin without the protection

25:51

of a regulated exchange

25:54

traded fund. That's what this is for.

25:56

This is going to usher in the big money. That's 700

25:58

trillion dollar total address. market. That's

26:01

what the ETFs are for. This is how the trillions

26:03

sitting on the sidelines enter Bitcoin. Right

26:05

now the Bitcoin market cap is only freaking

26:08

north of 500 billion. That's less

26:11

like roughly a half a trillion dollars. That's virtually

26:13

nothing on the grand scheme of things. We're talking 700

26:16

trillion total addressable market, which

26:18

Bitcoin is going to be tapping into. And my friends,

26:21

that's why this is such a big freaking

26:23

deal. Now check this out. They

26:26

recently, Fidelity, published research

26:28

explaining why investors should buy

26:31

Bitcoin. Here are 10 key points on

26:33

why you should buy Bitcoin

26:35

according to Fidelity, the four and a half trillion

26:38

dollar investment manager. First

26:40

and foremost, Fidelity finds Bitcoin

26:43

is the best money. That's correct. It's perfect

26:45

money, putting them here. Bitcoin clearly possesses

26:48

a lot of good qualities of money, combining

26:50

the scarcity and durability of gold

26:52

with the ease of use, storage, and transportability

26:56

of fiat. That's right. It basically

26:58

outcompetes all the competitors.

27:00

It's like gold, but clearly much, much,

27:03

much better. Next up, they explain the

27:06

virtuous cycle of Bitcoin, quoting

27:08

them here. This Bitcoin network competition is likely

27:10

to result in a winner take all scenario as the

27:13

network grows and becomes more valuable.

27:15

Guess who is the winner? That takes all. You

27:18

guessed it, fan. Bitcoin. More users

27:20

than hodlers equals higher demand, equals

27:22

higher prices, equals more miners, equals

27:25

higher security, makes it more attractive,

27:27

and the circle of life of Bitcoin continues.

27:30

Next up, they point out they compare Bitcoin

27:33

to the wheel, quoting them here in the report. The

27:35

invention of the wheel represented an entirely

27:37

new tech that once invented can

27:39

never be reinvented. Similarly, never

27:42

in human history had the problem of peer-to-peer

27:44

electronic cash been solved until

27:47

BTC. That's right. Facts.

27:49

Next up, Fidelity is amazed Bitcoin

27:52

survived, quoting them here. Every minute,

27:54

hour, day, and year the Bitcoin survives increases,

27:57

its chances of continuing into the future.

28:00

probably underestimate all the negative events the

28:02

Bitcoin has already endured

28:04

for each. They also share they

28:07

provide hard numerical data showing how secure

28:09

the Bitcoin network is compared to other coins

28:11

as they share here in terms of sheer computational

28:14

power required to alter the network's consensus.

28:17

Bitcoin far exceeds any remaining

28:19

proof of work competitors. That's

28:21

right and as the hash rate continues

28:24

to go up the network continues to

28:26

adjust its difficulty approximately every two

28:28

weeks and get stronger and stronger and the

28:31

more you attack the network if you're silly enough to

28:33

even attempt it the stronger the network

28:35

becomes. Next Fidelity compares

28:37

Bitcoin to the internet. That's right the

28:39

internet protocol suite known as TCP and IP

28:42

is an open source based layer where apps

28:44

on top of which to be built owning

28:46

Bitcoin would be akin to being able to own

28:48

the base layer of the internet. So

28:50

if you want to own the freaking internet just

28:53

buy Bitcoin it's even superior to the internet

28:55

in my opinion. Next up Fidelity writes

28:58

Bitcoin continues to dominate the market cap

29:00

of all competing cryptocurrency tokens

29:02

if the king for a reason and the Bitcoin market

29:04

dominance is on the climb you already know what

29:07

time it is once we surpass 51 percent

29:09

it's an official 51 attack on

29:11

the altcoin market I'm anticipating the Bitcoin

29:13

dominance to continue to climb and let

29:16

me know how high you feel it could potentially climb

29:18

for this cycle. They also point out and agree

29:21

that Bitcoin is useful it appears at this

29:23

point the Bitcoin has found the role in the digital asset

29:25

ecosystem as a scarce store

29:27

value asset at the very least. Now

29:30

there's no competition because even Ethereum

29:32

is no store value asset they

29:34

don't have a finite limited supply in fact

29:37

if you look on coin market cap you'll see next

29:39

to infinity you'll see next

29:41

to Ethereum the infinity sign which means

29:43

there is no max supply so

29:45

therefore it cannot be used as a store value

29:48

unlike Bitcoin. Now they also

29:50

share and conclude Bitcoin should be considered

29:52

first and separate from all the other digital

29:55

assets that have followed it I

29:57

agree with that sentiment 100. Let

29:59

me know if you agree or disagree and to read this

30:01

entire research study, check the show

30:03

notes below the video in the description.

30:06

But now we got to get into the moment we have all

30:09

been waiting for and discussed this billion dollar

30:11

price target by fidelity. Shout out

30:13

to $0 G. Rowe. I appreciate the super chat again.

30:15

He says, welcome all. Smash that

30:18

like fam. Thank you for

30:20

the reminder and yes, we're on the cusp

30:23

of hitting 35,000. We're like $10 away right now. So

30:26

send it and let's go and let's hit a

30:28

new annual high. Let's get this mofo

30:31

lit, shall we? But yeah, now let's break down

30:33

this billion dollar price prediction from

30:35

fidelity and the year FYI

30:38

by the year 2038. So

30:40

if we're in 2023 right now, that's another 15

30:43

years. Could you imagine that? Let's

30:45

break it down. Jerry and Timmer, director

30:47

of global macro fidelity, put forth the notion

30:50

Bitcoin has the potential to reach a value of $1

30:52

billion per coin in the next 15 years,

30:55

specifically around the year 2038. And

30:58

to support the forecast, Timmer employed a

31:00

combination of models and charts with a particular

31:02

focus to the stock to flow model and

31:05

his own demand model. These analytical

31:07

tools form the foundation of his

31:09

primary prediction. Now here

31:11

you can see on your screen, this chart employs

31:14

Metcalf's law. This is the

31:16

demand model. And according to this, the number

31:18

of its users grows linearly. A network's

31:20

value grows geometrically.

31:24

This means that the utility and adoption of Bitcoin are

31:26

expected to grow more rapidly compared

31:28

to its network of users, exchanges,

31:31

ATMs, and participating retailers. Therefore

31:33

the model predicts that Bitcoin will reach $1 million by the

31:35

year 2030. Now

31:38

this isn't so crazy. Stock to flow

31:40

is also anticipating a price

31:42

prediction basically

31:45

after the having of 2024, somewhere

31:47

between $100,000 and a million dollars

31:49

per coin. So this is right in alignment with

31:51

that target. It's also right in alignment

31:54

with Cathie Woods, $1 million Bitcoin

31:56

price target by the year Let's

32:00

continue, shall we? So

32:03

in contrast, Timmer's Stock to Flow Supply model

32:05

notes the event of significant price

32:07

surges during each halving event. Consequently,

32:09

when considering this model in conjunction with the other factors,

32:12

it forces a price range of $1

32:14

million to $10 million per Bitcoin

32:16

by the year 2030. So

32:19

again, the target I just shared of a million,

32:21

they can see 10x that target by the year 2030.

32:24

I hope they're right. Now, Timmer's demand model is

32:26

more inclined towards reflecting the bottom of

32:28

the Bitcoin price, and on the other hand, the

32:30

Stock to Flow model seems to provide the better approximation

32:33

for the peak of the King Coin. However, it's

32:35

worth noting that the disparity between these two models

32:38

widened significantly beyond the year 2030. The

32:40

reason behind this gap is expected to be the changing

32:43

value of the dollar. That's

32:45

right. You got to take that into consideration. Now,

32:47

let's discuss how changes in the dollar could

32:49

influence the Bitcoin price action. Timmer

32:52

proposes the value of the dollar undergoes fluctuations

32:55

over time when compared to other assets. For

32:58

example, if a dollar was invested

33:00

in stocks in the 18th century, its present-day

33:02

value would be roughly $4 billion.

33:06

Good Lord, hyperinflation. Similarly,

33:08

Timmer implied that if $1 million is

33:10

invested today, it can grow to $1 billion in

33:12

just a span of 20 years. This

33:15

further revealed that the purchasing power of the dollar

33:17

significantly reduced due to factors

33:19

like inflation and depreciation. Thus,

33:22

Timmer's statement implies that keeping a fixed amount of

33:24

dollars for many years may lead to reduced purchasing

33:26

power due to the assets changing

33:29

value. Over the last few years, an increasing

33:31

number of companies are taking over that $1

33:34

trillion market cap.

33:36

It's actually quite interesting.

33:38

I actually want to discuss this really quick. As

33:41

I shared in yesterday's episode, we

33:43

talked about Max Keiser being

33:46

on Alex Jones' show. Alex

33:49

kept joking that Max, he's

33:51

like, I know Max, you have over a million Bitcoin.

33:53

Now, if you just run the math, just for fun's

33:55

sake, 1 million Bitcoin times

33:58

a value of $1 million a coin. Let's

34:00

hypothetically say we're in the year 2030, Bitcoin

34:03

hits a million bucks. Someone's

34:05

going to become a trillionaire. Someone is going

34:07

to become a trillionaire. Whoever owns

34:09

a million Bitcoin besides Satoshi

34:12

will become a trillionaire. Right now, allegedly

34:15

trillionaires don't exist on the planet. I personally

34:17

believe that the richest people on the planet

34:19

we don't know about. They're not

34:22

in the public eye. They're moving in secrecy

34:24

in the shadows. And there's probably families worth

34:27

in excess of trillions of dollars. Easy

34:29

peasy. But on paper, what do we got?

34:31

We got Warren Buffett. We got

34:33

Elon Musk. We got Jeff Bezos.

34:36

And none of them are close to a trillion.

34:38

But guess what? I think the first trillionaire will

34:40

be a Bitcoiner. Let me know if you agree or disagree. And

34:43

what are your feelings on a $1 billion

34:45

Bitcoin price in which Fidelity is predicting by

34:47

the year 2038 and the next 15 years? And

34:50

hypothetically speaking, to all my Bitcoiners out

34:52

there and all my HODLers, how would that change

34:54

your freaking life? A $1 billion

34:57

Bitcoin. Let me know, fam. And don't forget

34:59

to check out CryptoNewsAlerts.net for the full premium

35:01

experience with video and to participate

35:04

in our live Q&A. And I look forward to seeing

35:06

you on tomorrow's episode. HODL.