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In today's show, Bitcoin price analysis

0:27

as we just captured $31,500 heading towards new

0:30

all-time

0:39

highs. I'll be breaking down this for you. Also

0:41

quoting Max Keiser, the high priest of Bitcoin.

0:43

He says that the new all-time highs for Bitcoin

0:46

and then $220,000 before the hash adjusted implied

0:49

price in the mid $300,000. Let's

0:53

freaking go. Also this just

0:55

in, SEC commissioner says, the

0:57

logic for why we haven't approved the spot Bitcoin

1:00

ETF has always mystified

1:02

me. I'll be breaking down this latest update from

1:04

SEC commissioner, Hester

1:07

Pierce. Also the latest update from

1:09

Kathy Wood. She was recently interviewed

1:11

on TV regarding the spot Bitcoin

1:13

ETF. Also breaking news, MicroStrategy's

1:16

Bitcoin stash is back in profit with Bitcoin

1:18

price back above $30,000. Shout

1:21

out to my long-term hodlers. Also Bitcoin

1:24

ETF to trigger a massive demand from

1:26

the institutions, according to Ernst

1:28

and Young. I'll be breaking this down for you. As

1:30

well as crypto analysts says the Bitcoin to

1:33

go faster and higher than most traders can

1:35

imagine. I'll be breaking down his very bullish Bitcoin

1:38

price targets, as well as SkyBridge boss,

1:40

Anthony Scaramucci predicts Bitcoin's value

1:43

can multiply 11-fold with

1:45

the BlackRock ETF approval.

1:48

Also the macro guru, former Goldman

1:50

executive, Raoul Pal, says that retail

1:52

will front run the VCs and institutions

1:55

before a crypto explosion

1:57

sending the Bitcoin price action 10X.

1:59

We'll also be taking a look at the overall crypto market,

2:02

all this, plus so much more,

2:05

in today's show. Yo what's good crypto fam? This

2:07

is first and foremost a video show. So

2:14

if you want

2:16

the full premium experience with video,

2:19

visit my YouTube channel at CryptoNewsAlerts.net.

2:22

Again that's CryptoNewsAlerts.net.

2:26

You gotta respect the pump. Welcome

2:28

everyone. I'm your host, JV. Lots

2:31

to cover. The entire crypto market is pumping and

2:33

in the green, which we love to see. Today

2:35

is October 23rd, 2023. So

2:38

let's dive right into today's market

2:40

watch and check out the charts and what is

2:42

popping currently with the king

2:44

crypto. As you see here, we're

2:47

back in the forest green, which is a beautiful sign.

2:49

Bitcoin pumping now above 5% for the day. I

2:51

don't know about you, but I can get used to these 5%

2:54

daily pump. That's what's up. Also

2:57

have Ether at 4.5%, trading back above $1,700,

3:00

along with the rest of the crypto market pumping and

3:02

in the green, with Chainlink up now

3:04

trading at $10.30, up almost 10% for the

3:07

day. And checking out CoinMarketCap,

3:09

we have the crypto market cap sitting at 1.18 trillion, climbing

3:13

north with roughly 51 billion

3:15

in volume in the past 24 hours, meaning

3:17

the volume is up 32%. And the Bitcoin

3:19

dominance, the longest, or the highest we

3:22

have seen this in a very long time fam. This

3:24

is the sign of the times, 51.8% and Ether dominance

3:26

at 17.4%. And

3:31

checking out the top 100 crypto gainers of the past 24

3:33

hours, we have Mina at 16%, trading

3:36

at 46 cents, followed by Injective up 14%, trading

3:38

above $10.39, followed by RocketPool

3:42

up 14%, trading just under $22. And

3:46

checking out the top 100 crypto gainers of the past week,

3:48

massive sea of green, virtually everything

3:50

in the top 100, minus maybe two

3:52

cryptos, which are correcting. So

3:54

this is a beautiful sign. And PLS

3:57

is up 22%, clearly. leading

4:00

the pack, followed by Mina, up roughly 16.4%. And

4:03

checking out the Crypto Greet and Fear Index,

4:05

one of my favorite indicators, shows were currently

4:07

rated a 53, which is neutral. Yesterday

4:10

was a 53 as well. Last week, a 47. And

4:13

last month, a 47, which

4:15

is neutral. So there you have

4:17

it, fam. How many of you are currently bullish on

4:20

Bitcoin and took advantage of the recent dip? Let

4:22

me know, and I'll be shouting everyone

4:24

out here a little later in the show. Now,

4:27

let's dive into today's Bitcoin technical

4:29

analysis. Check out the charts where the Bitcoin

4:31

price action is likely to

4:33

go next. Here

4:35

we go. A little price action for

4:38

you. Bitcoin held above 30,000. Thank God

4:40

for that. At the October 23rd, Wall

4:42

Street opened. As analysis said, the price

4:45

strength could cancel. It's bearish fractal.

4:47

And here you're looking at the Bitcoin one hour candle chart,

4:49

looking bullish is all heck, which we love to see.

4:52

Coin Telegraph data and trading view, followed Bitcoin

4:54

as it hovered above 30,700, up 2.5% on the day. Now, Bitcoin made snap

4:56

gains after the

5:00

October 22nd weekly close, stopping

5:03

just shy of 31,000 and what

5:05

became its highest levels since July.

5:07

Now, popular trader and analyst, right Capital

5:09

is keen to see the 31,000 level break. And lo

5:13

and behold, we just broke it. We're

5:15

at 31,500 at this time, quoting him here, Bitcoin

5:18

has weekly close above the lower high resistance

5:20

and confirming the breakout, which he shared

5:22

alongside this chart. He also argued that Bitcoin

5:25

slash USD could disregard the bearish chart

5:27

fractal in play throughout 2023. Next,

5:29

this involved the two year to

5:31

date highs near 32,000, forming a double

5:34

top formation with downside

5:36

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That's right. The annual high thus far is 32,000.

6:10

So on the cusp of breaking it, send

6:12

it. Specifically, Bitcoin requires a breach

6:14

of 31,000 in order to do so, quoting Hemirant here

6:18

on X. Is Bitcoin on the cusp of invalidating

6:20

the bearish fractal? Here are the bearish fractal

6:22

invalidation criteria. A, bull

6:25

market support ban holds as support. B,

6:27

weekly close beyond the lower high resistance.

6:30

And C, breach of 31,000 yearly highs. And

6:34

it looks like we have achieved this. So definitely

6:36

a good indicator and a good omen for the entire

6:38

crypto market. Now as noted

6:41

by its lead analyst checkmate today,

6:43

the metric, also known as the average active

6:45

investor profit ratio, has crossed

6:48

the key level. Pay attention. Bitcoin's

6:50

true mean market price, the level that Bitcoin

6:52

spends exactly 50% above or below, is

6:55

now below the spot price at $29,780. Quoting

6:59

Hemirant here, have we now paid our bear

7:01

market dues, he shared, as Bitcoin's

7:03

most accurate cost basis model,

7:06

which he shared alongside this chart. Now analyzing

7:08

the potential drivers of this current rally,

7:11

we have James Van Stratton, research

7:13

and data analyst at crypto insights

7:16

firm, Crypto Slate, flagging a potential

7:18

approval of a US spot Bitcoin

7:21

ETF, which we're all waiting on, right? While

7:23

not yet awarded the green light, a US spot

7:25

ETF is being treated as an inevitably

7:28

after legal battles resulting

7:30

in regulators losing sway and taking big

7:32

fat Ls. Yes, that's right, you chairman

7:34

Gary Gantzler. Quoting Hemirant here, the potential

7:37

approval of a spot Bitcoin ETF for Bitcoin

7:39

has spurred a significant increase in bullish

7:42

inflows into the crypto market.

7:44

And he also notes that glass no data shows inflows

7:47

via over the counter trading deaths spiking since

7:49

late September. Quoting Hemirant here, in addition,

7:51

the purpose Bitcoin ETF with its holdings

7:54

of approximately 25,000 Bitcoin

7:56

has observed consistent inflow throughout

7:59

the past year. even

8:01

though these inflows might not be termed

8:03

as large. They denote a positive market sentiment.

8:06

He also shared that this uptick in inflows across

8:08

various platforms indicates an optimistic market

8:11

response to the potential approval of the

8:13

Bitcoin ETF bolstering the overall

8:15

landscape of digital assets. Can

8:17

you say bullishness? Now the largest Bitcoin

8:20

institutional investment vehicle which is grayscale

8:22

Bitcoin Trust GBTC continues

8:24

to see a lower discount to the Bitcoin spot

8:27

price having already seen its smallest negative

8:29

margin since December of 2021. This

8:32

stood at negative 13.12% as of today per

8:36

data from monitoring resource, coin

8:38

glass. And as the high priest of Bitcoin

8:40

calls here, Max Keiser, new

8:43

all-time highs for Bitcoin and then $220,000

8:46

before the hash adjusted implied price in

8:48

the mid $300,000. And

8:50

shout out to Nijibokle and whatever weaponry

8:53

he is holding in this photo looks

8:55

next level to say the least. And

8:58

also breaking news coming in SEC

9:00

commissioner says the logic for why we haven't approved

9:02

this Bitcoin ETF has always mystified

9:04

me. In fact, she just shared this on Squatbox.

9:07

I actually translated what she shared.

9:09

And I can't say whether or not the commission is ready

9:11

to approve a Bitcoin ETF. I had been

9:13

thinking we should approve one for the last five

9:16

years. Gary, where you at Mr.

9:18

No Clarity Gary? So the logic

9:20

for why we haven't had one has mystified

9:23

me. I'd say we're all mystified. The court

9:25

case obviously is an important factor in

9:27

the landscape, but I can't guess as to my

9:29

colleagues approach to this topic,

9:32

I can guess their approach suppressing the Bitcoin

9:34

price action in which Gary Gensler, the chairman

9:37

of the SEC has been doing a fantastic

9:39

job with since taking that position.

9:41

But it's good to see we have good people

9:44

and good souls who are pro Bitcoin

9:46

within the SEC. I say we make

9:48

Hester Pierce, the chairman of the

9:50

SEC and fire Gary Gensler.

9:52

What's your thoughts, Sam? Let me know. And

9:55

also here's quoting Kathy Wood from a recent

9:57

interview on ETF Edge,

10:00

Regarding the spot Bitcoin ETF. Here's

10:02

what they asked her It looks like the SEC is going to be forced

10:04

to approve a spot Bitcoin ETF Why

10:07

or what if any communications have you had

10:09

with the SEC about your app and

10:11

where are we with this whole thing? Kathy would

10:13

responded. Well, it was publicized

10:16

and disclosed I think it was last week

10:18

that we had responded to the SEC request for

10:20

info around our Bitcoin filing and

10:22

we responded and that's Basically all we can

10:25

say I think many people think that the fact

10:27

that the Fed I mean the SEC chose to ask

10:29

questions of the change in behavior and therefore

10:31

I do think hopes are Rising

10:34

that a or a number of Bitcoin ETFs

10:36

will be approved and then the guy asked

10:38

Yeah my understanding is the court now is going

10:40

to issue a mandate about how to enforce their decision

10:43

here to the SEC and they are Going to basically

10:45

follow that mandate Everybody is assuming

10:47

at this point that they'll probably approve most of the Bitcoin

10:49

ETFs by the end of the year Is that a reasonable

10:52

assumption at this point? They lost the court

10:54

case. They chose not to appeal. Is that the point?

10:57

Kathy responded right and I do believe

10:59

maybe the reason they are saying by the end of the

11:01

year early next year I know our final deadline

11:03

on this filing is January 10th And so

11:05

I think we are first in line But as you

11:07

say a number of Bitcoin ETFs can be approved

11:10

at about the same time now So there

11:12

you have it coming directly from Kathy wood

11:14

the CEO of ARK invest

11:17

Ryan Reynolds here from it mobile with the price

11:19

of just about everything going up during inflation

11:22

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mobile.com for full term Who

11:47

do you think is likely to get the green light first

11:49

from the SEC think it'll be blackrock Fidelity

11:53

could it be Van Ecke? Could it be 21 shares

11:55

and Kathy woods company? Let me know your honest thoughts

11:57

as we know once we get the green light it's gonna

12:00

to usher in trillions of dollars into

12:02

the Bitcoin market and that's why I think

12:04

the market is so bullish right now. They know it's

12:06

inevitable. Two of the biggest Bitcoin

12:08

catalysts incoming, Bitcoin halving scheduled

12:11

to take place in April of 2024 and then we

12:13

got spot Bitcoin ETF approval. So

12:15

game on. All right, Sam. Now let's

12:17

break down our next story of the day now that we finished

12:20

our technical analysis and discuss the latest

12:22

with MicroStrategy, the

12:24

company founded by the one and only Giga Chad

12:27

Michael Saylor and one of the largest holders

12:29

of Bitcoin in the world next to Grayscale.

12:32

So let's break this down as they are now officially

12:34

in profit, which is a great sign. As of

12:36

October 23rd, MicroStrategy held

12:39

a whopping 158,245 BTC worth almost $5 billion up

12:45

about 132 mil from the original amount

12:48

invested with the Bitcoin purchase

12:50

at an average cost of $29,870 per coin. In

12:53

other words, the firm is now up at least 130 bucks per

12:55

coin. MicroStrategy

12:58

started buying Bitcoin back in 2020, then ramped

13:00

up purchases this year in 2023 as

13:03

its price recovered from extreme losses

13:05

resulting from the US Federal Reserve

13:07

policy around interest rate hikes as well as

13:09

the high profile crypto bankruptcies and

13:11

implosions. Now in September of 2023,

13:14

MicroStrategy acquired an additional 5,444 BTC

13:16

by raising an equivalent amount

13:20

of capital, mirroring the approach that

13:22

saw the firm buy approximately 12,333 BTC

13:26

by raising funds earlier in the year. Now

13:28

Michael Saylor, the co-founder and chairman

13:30

of MicroStrategy shared the following data,

13:33

which you can see on your screen, showing Bitcoin's outperformance

13:36

versus traditional assets since the company

13:38

adopted its crypto buying strategy

13:40

in August of 2020. MicroStrategy

13:43

was also the first publicly traded

13:45

company to put Bitcoin on their balance sheet. Now

13:47

look at these numbers. Don't lie, Bitcoin is

13:50

up 147%, S&P up 26%, NASDAQ up 18%, then gold is negative 3%, silver

13:58

negative 19%, and gold is negative 19%. bonds

14:00

the biggest loser negative 24%

14:03

so when people ask why aren't

14:05

you bullish on gold and silver that's because there's

14:07

no true price discovery in the markets they're completely

14:10

manipulated so therefore Bitcoin will

14:12

continue to outperform the precious metal

14:14

markets now will Bitcoin price rise

14:16

further into next year I absolutely

14:19

think so but here's what the charts

14:21

indicate since May 2022 Bitcoin

14:23

failed to establish a clear bullish momentum

14:25

after crossing that critical 30,000 mark

14:29

this scenario may repeat in the coming weeks this

14:31

in turn risk pushing micro strategies Bitcoin

14:33

investment below its average buying price

14:35

once again now more downside cues

14:38

from the Bitcoin daily relative strength index

14:40

known as the RSI now as its most

14:42

overbought level since January of 2023

14:44

and as a rule of technical analysis and overbought

14:47

RSI could prompt the Bitcoin price to

14:49

drop or consolidate sideways

14:52

a correction scenario we'll see the Bitcoin price

14:54

head towards its 50-day exponential moving average

14:56

near 27,700 in November down about 10% from the current level and

15:01

conversely maintaining and confirming 30,000 as

15:04

the new support level will only open the door

15:06

towards the next big resistance area at 32,000

15:09

which we are quickly approaching

15:12

now from a fundamental perspective the potential

15:14

approval of a Bitcoin ETF in the US serves

15:17

as a strong bullish backdrop according to crypto

15:19

quant noting the approval of a Bitcoin ETF

15:21

can boost the Bitcoin markets net cap by

15:23

a hundred and fifty five billion that's

15:26

a significant amount considering the Bitcoin

15:28

market cap is just north of 500 billion

15:31

crypto quant argues that if this happens

15:33

the price of Bitcoin can hit fifty thousand

15:35

to seventy three thousand dollars per coin in 2024

15:38

personally I think this is extremely conservative

15:41

which could certainly become a boom for micro

15:43

strategy however the firm says it will stay

15:45

on its Bitcoin course even if a Bitcoin ETF

15:47

gets the green light so there you

15:49

have it fam micro strategy will continue

15:51

to do what they do best stackin M

15:54

stats and hodling for the long haul that's

15:56

a hundred and fifty thousand Bitcoin which will

15:58

never be sold or dumped onto the open

16:00

market, unlike FTX and their

16:02

scam with Bankman Freed, who was dumping

16:05

all of your Bitcoin you were uploading to their

16:07

exchange and replacing it with a scam token

16:09

called FTT. But anyways, fam,

16:12

now let's break down our next story of the day and discuss

16:14

the ETF thriving demand

16:16

occurring right now because all eyes

16:19

are on ETFs. So let's break this

16:21

down. This is brand new breaking news.

16:23

Bitcoin is in a massive demand from institutional

16:26

investors, but awaiting a spot Bitcoin

16:28

ETF approval to trigger the buying

16:30

rally. And according to a blockchain executive

16:33

at the professional services provider, Ernst &

16:35

Young. Now, Ernst & Young's global blockchain

16:37

leader is Paul Brody. He believes the Bitcoin

16:40

faces.

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A lot of pent up demand from the institutions

17:13

due to the US regulators not approving a spot

17:15

Bitcoin ETF for years. In fact,

17:17

the first spot Bitcoin ETF app

17:19

was submitted by the Winklevoss Bros a

17:22

fricking decade ago. Let that sink

17:24

in. Now, Brody discussed the outlook for the crypto

17:26

adoption on CNBC's Crypto Decrypted

17:29

October 23rd, which is today, declaring

17:31

that trillions of dollars in institutional money

17:33

are waiting to enter Bitcoin once Bitcoin

17:36

ETF finally gets approved, quoting him

17:38

here. But any of these other

17:40

institutional funds, they can't touch this stuff

17:43

unless it's an ETF or some other kind of regulatory

17:45

blessed activity. And if you look at people

17:47

who are buying the Bitcoin, they are buying

17:49

it as an asset. They are not buying

17:52

it as a payment tool. Those who are buying

17:54

Ethereum are buying it as a computing platform

17:56

for business transactions, as well as decentralized

17:59

finance. services. Brody's remarks

18:01

come amid global investors closely watching

18:04

the crypto regulatory process by

18:06

the US SEC which has not approved

18:08

a single spot Bitcoin ETF thus far.

18:10

In the past decade meanwhile they

18:12

continue to allow the future ZTFs for

18:14

manipulation as you know derivatives

18:17

are weapons of mass destruction quoting Warren Buffett.

18:19

Now a number of companies including grayscale investments,

18:22

ARK Invest, BlackRock and Fidelity

18:24

have all filed with the SEC for multiple

18:26

Bitcoin ETF products and are currently awaiting

18:28

a regulatory response. Now

18:31

grayscale which in August of this year

18:33

won the SEC lawsuit for a spot Bitcoin ETF

18:35

review recently filed an S3 form

18:38

registration statement with the SEC to

18:40

list its grayscale Bitcoin trust on the

18:42

New York Stock Exchange ARK

18:44

send it and according to Bloomberg senior ETF

18:47

analyst Eric Valtunes a recent

18:49

amendment to the spot Bitcoin ETF by ARK Invest

18:51

and 21 shares is a good sign of progress

18:53

and in pending approvals the ETF expert

18:56

believes that the ETF amendments filed in mid-october 2023

18:58

could be in direct response

19:01

to concerns that the SEC has asked

19:03

ETF issuers to address. So

19:05

there you have it fam again when

19:07

spot Bitcoin ETF is the million dollar question

19:10

let me know when you feel this is likely to get approved

19:12

let me know in the comments right down below.

19:14

Without further ado let's continue with

19:16

where we left off as I have some

19:19

very bullish targets to share with you in fact

19:21

three stories of some very bullish all-time highs.

19:23

So let's break this baby down starting right

19:26

here with this hundred thousand dollar price

19:28

prediction coming from credible crypto

19:31

here's what he recently shared on X

19:34

as you can see here on your screen he said some

19:36

call this a cup and handle I call it the moon

19:38

bucket it is literally in the chart

19:41

and it shows you a Bitcoin just skyrocketing

19:43

to the moon now with Bitcoin trading

19:45

back above thirty one thousand six hundred

19:47

the analyst believes Bitcoin will go a lot higher

19:49

and a lot faster than most market participants

19:51

can even imagine leading to a rally

19:53

towards the midterm target shout out to

19:56

zero dollar g-row I appreciate the super

19:58

chat contribution he says here 30,000 Bitcoin

20:01

has been tested for the third time. How many more

20:03

tests until we rip through it and teleport to $40,000?

20:06

That's a great question, fam. In the long term,

20:08

credible thinks that the price of Bitcoin can reach the six

20:11

digit price tag. Tating him again, Bitcoin

20:13

ideally close to 100,000 plus, ETH,

20:15

not sure, but probably new highs. And

20:18

while the analyst appears to be extremely bullish on Bitcoin,

20:20

he notes it is still within the realm of possibility for

20:22

Bitcoin to retest its support around 28,700, as

20:26

he shares here, a beautiful weekly close

20:28

reclaiming the level from which we broke down from

20:30

nearly two months ago that led to the biggest liquidation

20:32

event we have ever seen since the FTS

20:35

collapsed bottom at 15,000. If

20:37

you are lucky, we can get a clean recess of the

20:39

green zone before a continuation.

20:42

Well, let's freaking go. Yeah,

20:44

let me know if you agree or disagree with the analyst.

20:46

I also agree in the sense that I think

20:48

Bitcoin can double up and reach a new all

20:51

time high, not just an annual high, and

20:53

it can happen a lot faster than anyone is anticipating.

20:56

We already are feeling the bullish

20:58

vibes in the market, and I couldn't

21:00

be more bullish here personally myself.

21:03

And with that being shared, now let's break down our next breaking

21:05

story of the day, Anthony Scaramucci

21:08

of Skybridge Capital. He is

21:10

very bullish on Bitcoin, virtually predicting

21:12

that the King Crypto can 11X from

21:15

here, sending it parabolic into the multiple

21:17

six figure price range. So let's break down

21:19

the latest from the mooch himself.

21:22

Shout out to Scaramucci, who was optimistic about

21:24

Bitcoin, recently spoke with Altcoin Daily

21:26

about the various crypto related topics. The

21:28

American financier touched on BlackRock's

21:31

Bitcoin ETF, mentioning he was

21:33

its first external investor. Good

21:35

to know that, I didn't know that. He also addresses the situation

21:38

with Sam Bankman-Fried, the former FTX

21:40

chief who owned a 30% stake in

21:42

Skybridge Capital. Scaramucci said he's

21:45

negotiating with the bankruptcy estate and has

21:47

no plans to testify in Bankman-Fried's

21:49

trial. So if I understand this correctly, Scaramucci

21:52

gave Sam Bankman-Fried a 30% stake

21:55

in his company for FTT scam

21:57

tokens, virtually meaning that Sam Bankman-Fried...

22:00

almost everybody in the industry. Crazy,

22:02

right? Anyways, the Skybridge leader stated

22:05

he spent approximately four hours with the Department

22:07

of Justice who informed him that

22:09

his testimony wasn't required.

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terms of buy.

22:41

So he's not planning to testify against

22:43

Bankman Freed, quoting him here, I've been very

22:46

public that I think he is a fraud.

22:48

Scaramucci candidly said about Bankman

22:50

Freed. Well, that's saying the least, right? Sam

22:53

equivilated his ADHD and his

22:55

sloppiness and his disorganizations

22:57

as a cover for the crimes he were being committed.

22:59

Scaramucci told Altcoin Daily, you can't

23:02

have $8.8 billion of your customer's

23:04

money in your personal account no matter

23:06

what your excuse is for that. You cannot do

23:08

that. Preach. He continued, I

23:11

think the sentence will be lighter than

23:13

people expect because he is a young man. Personally,

23:16

I think the sentence will be lighter than we expect

23:18

because he was colluding with higher ups

23:21

including SEC regulators like

23:23

the chairman of the SEC. Just pointing

23:25

out the obvious, right? Now regarding Bitcoin,

23:27

Scaramucci predicted it if BlackRock spot

23:29

Bitcoin ETF receives the approval. The Bitcoin

23:31

valuation can multiply by 11.

23:34

You run the math at $32,000 per coin, which we're on the

23:38

cusp of right now, times 11. Someone

23:40

break down that math in the chat. He theorized

23:43

significant capital inflows into ETFs

23:45

if from leading financial entities gaining SEC

23:48

approval. Think of the magnitude of that. If

23:50

there is $100 billion that flows into Bitcoin,

23:52

that can have 11 times factor in

23:55

terms of valuation, Scaramucci remarked.

23:57

So could you see Bitcoin go from $600 billion out? asset

24:00

to a $600 trillion asset? Oh,

24:02

hell yeah, send it. Moreover, Scaramucci

24:05

mentioned his acquaintance with Mr. No Clarity

24:07

Gary Gensler, the SEC, from

24:09

their time at Goldman Sachs. Now

24:12

at Goldman Sachs, Scaramucci worked in various

24:14

roles, including investment banking, equities,

24:16

and private waste management. Scaramucci described

24:19

Gensler now, SEC chair, as

24:21

roundly disliked during his Goldman

24:24

tenure. He speculated

24:26

that Gensler might have felt slighted by

24:28

bankmen, free generous spending in

24:30

Washington. There you have it. According

24:32

to Scaramucci, nobody likes No Clarity Gary.

24:34

We've got to get this guy out of the SEC. Now labeling

24:37

Gensler as a sanction-monious,

24:39

righteous, if I'm pronouncing that right, fam, Scaramucci

24:42

predicted he might pose significant

24:44

challenges for the crypto sector for some time. It

24:46

almost seems like Gary Gensler is so narrow-minded

24:49

when it comes to crypto regulation, because you look

24:51

back at his MIT teachings from 2018. He

24:53

seems to get crypto early on before a lot

24:56

of the other people did. That's right, because he

24:58

is colluding with the SEC and he is a

25:00

no good regulator and a bad actor. If you're to

25:02

ask me, I almost feel he's just as guilty

25:04

as Sam Bankman freed, because he was the

25:06

one overseeing all of the

25:09

unlawful-ness going on and basically

25:11

just turning the other cheek and allowing it to happen.

25:14

Any good regulator would have spotted

25:16

SPF as a fraud, especially when you have continuous

25:19

meetings behind closed doors with

25:21

the guy. You know what I mean? So Gensler

25:24

is a snake in the grass and cannot be trusted,

25:26

in my humble opinion, just like Sam

25:28

Bankman freed, snake in the grass, cannot

25:30

be trusted, hence many made

25:32

off, made off with over $8 billion of investors'

25:35

money. You know what I mean? But let me know your thoughts,

25:37

fam. And with that being shared, now let's break

25:39

down our breaking story of the day. Macro

25:42

Guru, Raoul Pal, was predicting the

25:44

Bitcoin market to 10X from

25:46

here and is extremely bullish.

25:49

So here's what the Macro Guru has to

25:51

share. Macro Guru, Raoul Pal,

25:53

says that the retail investors

25:55

have a chance to get ahead of the

25:57

venture capitalist and blue-tip investors.

25:59

the crypto market skyrockets.

26:02

Let's freaking go. In a brand new interview

26:05

on the Overpriced JPEG podcast,

26:07

the former Goldman Sachs executive says

26:10

that for the first time, retail traders are

26:12

scooping up crypto assets before the institutional

26:14

investors place their positions.

26:16

Now, isn't it interesting how many people were involved

26:19

with Goldman Sachs? You got SEC

26:21

Chairman Gary Gensler, you got

26:24

Raul Pau, you got Scaramucci,

26:26

and trust me, they run ish over

26:29

on Wall Street, and they're all connected some

26:31

way somehow, which makes it even that much more

26:33

interesting. But anyways, quoting the

26:35

macro guru, we have never been

26:38

given the opportunity to own the infrastructure

26:40

layer and own it before the institutions.

26:43

I always talk about this. We are front-running

26:45

the institutions, and it's not like it's

26:47

some mass illusion or delusion. I

26:49

know it because I speak to them all day. They

26:52

are all coming. All the investors are coming,

26:54

and we get the privilege for the first time in our lives

26:57

to own this because everything else is

26:59

venture capital. That's right.

27:01

Early stage is VC, and to invest

27:04

into VC, you need to be an accredited investor.

27:06

Not only that, but most VC funds won't

27:09

take you unless you've got a certain amount of capital.

27:11

I'm Dana Perino. Join me for my

27:13

brand new podcast, Perino on

27:15

Politics. As we analyze the 2024 election

27:18

cycle, make sure you subscribe to this series on

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FoxNewsPodcast.com or wherever

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you download podcasts, and leave me a rating

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and review.

27:26

So it just knocks everybody out of the actual largest

27:28

part of the economic high that gets made, and

27:30

then eventually, something goes public,

27:33

and only a few of those companies make

27:35

a lot of money. So we're disadvantaged

27:37

as ordinary people. Fact. Paul

27:39

goes on to describe the risk curve associated

27:42

with the digital assets, saying that it is

27:44

very much like the risk curve

27:46

of traditional assets during tough market

27:48

times. He also likens Ethereum to the US

27:50

economy, a growing ecosystem rife

27:53

with activity, quoting him again, right now

27:55

as the economy

27:56

slows down, the Fed starts cutting,

27:58

people will buy Treasury

27:59

bills, bonds, and then they'll buy corporate bonds.

28:02

Then they'll buy the junk bonds and they'll buy emerging

28:04

market junk bonds and then they'll buy the private

28:07

credit. That's the risk curve. It is

28:09

exactly the same in cryptocurrency. So

28:11

the first part of crypto spring, people buy

28:14

Bitcoin and then when they get a bit

28:16

of confidence and things are working, they go

28:18

down to Ethereum and Ethereum starts

28:20

outperforming Bitcoin. And before you know it, you

28:22

start to go down the risk curve. The good projects,

28:25

Solana or whatever in the middle like

28:27

Polygonmatic and whatever else starts

28:29

doing well. And then you go to cowboy land

28:32

and you go to everything. That's the risk

28:34

curve. What's really interesting is once you

28:36

start to understand that crypto is an

28:38

economy, it's just a digital nation state.

28:40

And Ethereum is actually the layer of

28:42

the nation states. The Bitcoin economy has

28:45

more money, but actually it's like Switzerland,

28:47

right? Just like old people storing their

28:49

money. Well, Ethereum's, there are a lot

28:51

of stuff going on. And so the Ethereum

28:53

economy acts like the US economy.

28:56

So there you have it, Sam. This is coming directly

28:58

from Raoul Pal, the macro guru. And to watch

29:00

this recent interview, he just did check

29:03

the show notes below the video in the description

29:05

and another highlight of Max Keiser's

29:07

short term prediction for the King Crypto. For those

29:10

just joining us, Max says new

29:12

all time highs for Bitcoin and then 220,000 before the

29:15

hash adjusted implied price in the mid $300,000.

29:18

So send it and let freaking go. And

29:23

don't forget to check out crypto news alerts.net

29:25

for the full premium experience with video

29:27

and participate in our live Q&A.

29:30

And I look forward to seeing you on tomorrow's episode.

29:32

HODL!