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Welcome back and now we’re hearing a central bank is reversing their Crypt ban Black Rock is now funding ETFs starting at the beginning of 2024 ethereum May Eclipse Bitcoin and barnbridge settles a lawsuit with the SEC we got a lot to discuss in today’s video we’re going to be starting with

Core scientific though because I keep getting a lot of questions about core scient scientific and by the way this is the cryptoviser podcast we talk about everything crypto blockchain and investing every single day of the year since 2018 so make sure you guys hit that subscribe button that way you never

Miss a new video we upload every single day of the year and also give the video a free thumbs up now I’m trying to pull up core scientific but they may have already uh unlisted no they didn’t so you can see guys uh you know I sold my Holdings of course scientific in

November and uh effectively in uh the beginning of November I don’t know why this is this chart is not working well but anyway in the beginning of November we were at about 70 cents and this is when basically core scientific was laying out their bankruptcy plan what they plan to

Do how they plan to effectively exit bankruptcy and I just felt very unsure in terms of where the price was going to go I don’t know why this chart is acting up uh I didn’t really know where the price was going to go and I didn’t really understand what the implications

Were for my Holdings of course scientific and it was not worth the risk so I sold at 70 cents we went back down to 4030 cents and now we’re up to a128 now some of this is based on the speculation and the excitement that core scientific is expecting to emerge from

Bankruptcy in January uh and effectively crypto miners said on Thursday that they are this is Sam Alman nonsense uh these autoplay ads anyway um crypto minor core scientific said on Thursday was expecting to emerge from bankruptcy in mid to late January after a year of their collapse the uh company said that

It reached an in-principle agreement with all key stakeholders on the terms of the global settlement they said the global settlement removes key hurdles to our anticipated emergence from chapter 11 in January and so basically what I have been able to uh you know understand from the bankruptcy plan to you know exit

Bankruptcy is that basically if you hold a share of and again this is not Financial advice I could be wrong do your own research this is my interpretation and this is basically the reason that I decided to exit my core scientific position basically until after the bankruptcy ends uh and they

Reissue shares because there is going to be dilution for shareholders from my understanding if you are a shareholder you’re going to get the same number of shares of the new stock this is my interpretation but it may be diluted by new shares being created to pay back

Some of the other creditors or whatever we also don’t know what the valuation is actually going to be they did say that they’re going to be uh launching based on A1 and a. half billion dollar valuation which is 3x from where we are and so therefore maybe the price will

Actually go up but there’s also a possibility it won’t based on the dilution so it for me it wasn’t worth a risk this is the same reason that I didn’t hold xrp during the SEC lawsuit because it just wasn’t worth the risk to hold a coin for two years in the

Anticipation that the price would go up after the SEC lawsuit the SEC lawsuits over and the price of xrp basically hasn’t moved right so it’s the same thing here you know I do believe that there’s going to be an opportunity to buy into core scientific after they uh

Reissue their shares and emerge from bankruptcy but I’m going to wait and and monitor the situation here it’s just not worth the risk if it’s going to be diluted and maybe it’s a it’s not going to be diluted and maybe the shares are going to be wor double or triple and

That could be great but again if you’ve been watching my videos for a long time you know that we’ve been trading core scientific uh at least in my portfolio all year you know as we’ve seen all of the volatility to the up and downside right from five cents up to a dollar up

To 50 cents and then you know I mean there’s been a lot of great profit taking from cor scientific an opportunity that we uh we took advantage of and I think that there will be a lot more cuz we’re not even in the we’re not even past the the Bitcoin having yet so

Anyway let me know your thoughts on that next up Nigerian Central Bank lifts their ban on crypto trading now this is breaking news from the other day Nigeria’s Central Bank has now lifted a ban on transacting in cryptos while saying Global Trends had shown a need to regulate these activities the Central

Bank of Nigeria in February of 2021 barred Banks and financial institutions from dealing in or facilit itting transaction in crypto subsequently Nigerian Security and Exchange Commission last year in May published regulations for digital assets that signals Africa’s most populous country was trying to find a middle ground

Between a ban and their unregulated use in a memo dated December 22 2023 the Central Bank of Nigeria said that current TR have shown there’s a need to regulate these activities uh and basically the latest guideline spells how Banks and financial institutions should open accounts provide designated settlement accounts

And Settlement Services and act as channels for foreign exchange inflows and trade for firms transacting in crypto assets the central bank said from the commencement of these regulations uh they shall not open financial institutions shall not open or permit the operation of any account by any person or entity to conduct the business

Virtual digital assets unless that account is designated for that purpose and open in line with the requirements of these guidelines but the banks are still barred from Trading holding or transacting in crypto according to the central bank and this is what we’re seeing central banks doing around the

World I mean even the Federal Reserve has kind of capitulated to the point that digital currencies are here it’s it’s going to be here um are they a threat to the dollar maybe in the future but not right now at least this is what the Federal Reserve chairman has said

And so we’ll see kind of where this all goes you know uh central banks around the world accepting it you know creation of guidelines and and regulations for crypto usage I think this is really really positive and now with that we’re now hearing that black rock is going to

Be seeding their fund their Bitcoin ETF James saart who’s a Bloomberg analyst said on X just the other day seed movements do not mean a launch looking looks like black rock is planning to make moves on january3 they’re seeding the ETF with $1 million do but maybe this means Black

Rock would be expecting a launch to happen shortly thereafter and so you can see in there um uh this from the Bloomberg terminal it says total proceeds of the trust from Black Rock uh from the sale of the seed creation baskets were $10 million the trust purchased blank amount of Bitcoin at the

Price of blank per Bitcoin with the proceeds of the seed creation basket on January 3rd of 2024 so um basically this is this is like what they didn’t say they did it yet right but this is this is what they’re I guess proposing to to put forward and

Then so if they are putting $10 million into the ETF does that me I don’t even care if it’s a launch of the ETF or not because it doesn’t matter whether the ETF launches or not if they’re putting $10 million into buying Bitcoin for the

Fund to like start the fund up you can’t start an ETF with nothing in it that would be stupid right nobody’s going to buy a share if there’s nothing in the share so effectively they have to kind of preedee this right from early investors or credit investors or

Whatever maybe their own funds they buy it up to create the at least a you know a liquid trust and then they they start uh you know trading those shares so to me it doesn’t matter whether they launch the ETF or not the fact that they’re

Going to be seeding it that tells me what are these other ETF issuers also going to do so you have like 15 or 20 ETF Bitcoin ETF potential issuers that are probably going to be doing the same thing so if you have 10 issuers with $10 million each that’s $100 million for

Seed funding hundred million going into the Bitcoin Market listen the Bitcoin Market can handle it right the the volume on the market is .57 billion dollar but if we do the if we do the math the current price of Bitcoin is 40 we’ll just say 40,000 okay to keep it

Even and you know if there’s volatility over the next week or so so $40,000 um sorry we got to do a100 million divided by $40,000 each Bitcoin that means that they want I did that completely wrong 4 maybe I didn’t $400 million divided by sorry $100 million you guys know I I hate

Doing math on screen because I always get confused okay divided by $40,000 maybe that’s correct yeah $2500 Bitcoin so 2500 Bitcoin for 10 issuers doing $10 million each for a total of $100 million that’s not even that much Bitcoin right I mean micro strategy has 175,000 Bitcoin grayscale has 650,000

Bitcoin and they’re gonna 10 funds are going to put in $2,500 and again that’s just the beginning but will that actually move the price of Bitcoin will a $2,500 purchase move the price I don’t think think so because we’ve seen micro strategy buy 20,000 Bitcoin over the

Course of you know a month and the price barely moves I mean it moves a little bit but not that much so this is something very interesting to keep an eye on but anyway Eric balunis another ETF Analyst at Bloomberg said black rock is expecting to seed their ibit Bitcoin

Trust with $10 million in January 3rd notable the date and that is a pretty big bump up from the 100,000 they seated in October now you may be asking what is balun is talking about when he says notable the date what is important about January 3rd well if you know anything

About Bitcoin January 3D is the Genesis block of Bitcoin the first Bitcoin block January 3rd or I I should say first open source Bitcoin client was released on January 9th okay so that was effectively the beginning of Bitcoin January third and now black rock is going to be

Entering the game think about this 15 years later to the day 15 years later to the day they’re going to be entering Bitcoin this is uh this is really really uh extraordinary because this is like part of history that we’re all experiencing in real time right we’re experiencing

What they’re going to be learning about the creation of Bitcoin maybe not in schools but definitely economists will be learning about this for for decades or centuries to come the creation of Bitcoin and the implementation of this new monetary system it’s really incredible to see and to be experiencing

Not Just To See Spot crypto ETF applications will now also be considered according to Hong Kong Regulators so Hong Kong Regulators say they are ready to consider applications in the spot crypto ETFs in a joint statement the security and future commission and Hong Kong monetary authorities said that virtual asset environment has changed

Again the same thing that we just heard from Nigeria Central Bank uh since 2018 when they formulated professional investors only regulatory approach so now this is the second effectively nation that we’re hearing about that said things have changed Hong Kong has been loosening its approach on crypto this year and Regulators opinion on

Retail exposure to digital assets has shifted in October the uh security and future commission updated the rulebook to allow broader range of investors to engage in spot crypto and ETF investing in last month their chief executive said that the regulator was moving towards allowing retail uh investors to buy Spot

Crypto ETFs and would welcome proposals using Innovative technology that boost efficiency and customer experience provided any risks were addressed and this is very similar to what we’re seeing now with the SEC although the SEC continues to go regulation by enforcement as is explained in this article the SE EC blast purportedly

Decentralized Dows or decentralized autonomous organizations in 1.7 million dollar settlement with barnbridge they said that barnbridge failed to register its structured crypto product with the SEC now we know a lot of these fines that they pay is just to kind of move on and kind of keep it moving with the SEC

Because like a lot of these companies or Dows or ecosystems they cannot afford to do what Ripple did and go through a multi-year $200 million legal fee lawsuit against the SEC they just can’t do it so crypto investment issuer barnbridge da and its Founders agreed to pay $1.7 million settle with the SEC

That it offered illegal crypto Securities to us investors the ethereum based project will shut down its structured crypto investment product called smart yield with barnbridge and comparing it to high rated debt instruments Financial Regulators said that smart yield failed to register as an investment company even as it amassed

5 $9 million from crypto investors while the SEC often comes after crypto companies for its purported security violations this action is notable because it’s the first targeting a crypto startup that structured itself as a decentralized autonomous organization or a dow and the Dow actually held the public

Vote on how to respond and so this can be proved problematic right what a doubt is if their Wares are open for us investors as was the case with barnbridge according to the SEC barnbridge took no steps to prevent us investors from buying into its smart yield product it

Accused them of violating requirements for registration and other violations um the executives I guess had to pay $125,000 and barnbridge DOW itself agreed to pay 1.5 million in discouragement to the SEC in both cases the parties did not admit or deny allegations and so again they’re just

Trying to move on from it but you know uh this is why I say guys like nothing is truly decentralized right this this narrative about decentralization I mean Bitcoin is not even fully decentralized ethereum is definitely not fully decentralized we have the banks behind the development of ethereum through

Consensus consensus cannot be a true you know decentralized organization or neutral Organization for the technology because they cannot be it’s the same thing like coin base cannot be neutral they have to comply with what the US wants them to do and what their investors because they’re publicly

Traded company and so if their investors say hey coinbase we want you to do this and coinbase says no they’re going to get the board to change leadership and the same thing Within These you know development ecosystems if consensus says no JP Morgan we’re not going to do X Y

And Z to push forward JP Morgan is going to stop funding them and they’re going to go fund another organization do it right and so it’s really important that you guys understand like what you’re really investing in I’m not investing in this technology because it’s decentralized I mean yes parts of the

Technology are decentralized and this helps the whole technology move forward but it’s not fully decentralized anyway moving right along Anthony scaramucci also the executive and founder of skybridge capital said past performance is not indicative of future results and posted the performance of his first trust sky crypto industry digital

Economy ETF and you can see it went from about $5 a few months ago to $10 so it basically doubled and since the beginning of 2023 it’s gone up over 200% from uh under $5 and yes the this are really good results you can see from the beginning of

2023 the price of it was about $3 so effectively it’s gone up over 3x and you may be saying well what is this trust what are they actually holding holding well if you go over to the First Trust website you can actually see their Holdings they have 30 Holdings and these

Are in different companies and you can see they invest in coinbase Marathon digital micro strategy Riot platforms Galaxy clean spark hut8 Cipher Iris energy bit deer meta platforms and then some other tech companies but a lot of what their their Holdings are the majority of the Holdings are in these

Bitcoin mining companies and coinbase and micro strategy and Galaxy digital so you want exposure to these assets and you think that this is a a good investment uh vehicle then this is something potentially look at it’s very similar to Ark invest you can look at gfo that’s grayscales future of Finance

ETF there’s a lot of different crypto ETFs that I think that are going to perform fairly well and maybe a little bit outside of some of the volatility that we’re probably going to see in the Bitcoin ETFs occurring because the E Bitcoin ETFs we have no track tracking history history for

Cyclical data on what that these ETFs are going to look like right even though Bitcoin may go up maybe the ETFs are not going to really go up with it maybe it will I don’t know we’ll have to wait and see but um you know getting into other

Assets that are like kind of one step remove from the individual asset could be another play to look at not telling you guys what to do in your Investment Portfolio just something that I thought that you guys would be interested in looking at anyway Ralph Pal set on X for

All the ethereum Bears in February of 2021 Bitcoin hit $44,000 where it is today and ethereum was at $1,400 now ethereum is at$ 2250 or $2,200 nine months later ethereum was up 245 but Bitcoin was up only 45% he said that he thinks ethereum outperforming Bitcoin will be a key

Macro Trend in 2024 and the work at xam suggests it I don’t know what that is but whatever anyway anyway he post this chart what I would caution you guys is there’s a lot of narratives being driven right now I don’t know whether it’s going to happen or not but I remember

Everybody was being FOC so focused on the stock to flow model last cycle planb trillion dollar USD on X who had the stock to flow model and Bitcoin was going to hit a million dollars because of this flow it was all it was all guys and literally the

Stock to flow as soon as the stock to flow model failed it was an immediate block on my end immediate because here’s the deal I was telling my viewers that I believed we were going to peak in the market around you know August to October and that was based on number one the

Stock to flow model number two what Ral pal was saying number three my macro analysis number four other analysis that I was watching and kind of uh key key points that I was looking at but when that time came around and there there was a lot of movement a

Lot of these very wealthy investors were moving their money and not telling the followers like oh I I pulled all my profits out of this because I think that we’re now going down until like two months after some of them were doing that and this caused a lot of confusion

In the market and if you’re if you’re purporting like oh stock to flow model works this is the this is the number one thing to look at this is where going to $150,000 million dollar Bitcoin and then it doesn’t happen you need to ex and you

Or you and or you lose cred uh credibility in your mind about what that model is like stock to flow when when it failed I said to my viewers guys I think the stock to Flo things and I’m stopping following this this this model because it’s it’s completely

Failed model and still to this day people are pushing the stock to flow model which is not accurate it can give you a rhythm and a rhyme but it’s not telling you exactly and they were pushing the stock to flow model that we were going to peek out in the Market at

This date and this date and none of that happened none of it happened and I I don’t know whether there was a distraction or not but if you look at this chart I don’t even know what I’m looking at on this chart right these are

The dates on this side you have the eth to bitcoin year-over-year and then on this side you have the ism 20-month lead what do these have anything to do with each other and what is what is happening now in the mark like you’re basing this guesstimate line of where the white

Line is going to go listen I I don’t know whether ethereum is going to outperform bitcoin I think that the amount of money and narrative and Technology that’s behind Bitcoin I think that Bitcoin is going to go exponentially higher people are talking about ethereum flipping Bitcoin not

Going to happen right maybe Solana will flip ethereum and we’ll have that battle card maybe as well but nothing’s flipping Bitcoin it’s just not going to happen now wall Street’s involved they will not let it happen it w people who are saying this they literally don’t understand what the Federal Reserve can

Do and what these banks are going to do the the black rock is the Federal Reserve it’s the same thing Black Rock owns majority share in like 80% of the stock market where are they getting that money from Federal Reserve so they’re going to keep Bitcoin elevated

I’m not saying ethereum is not going to perform I do think ethereum is going to perform but what is ethereum going to go up to ethereum literally go look at the charts it basically tracks the previous price cycle of Bitcoin it’s like one cycle behind right not to a t but pretty

Damn close and so that would tell me based on where ethereum is currently around the $1 and $2,000 Mark that we’re only going to get to like maybe 20 $30,000 because well two cycles two cycles ago Bitcoin hit $20,000 at the peak and what was it trading at in the

Early days of that cycle prior it was trading at the $1,000 and $2,000 level even 3,000 then it it pumped up to 20,000 and then came back down so that’s what I think is going to happen with ethereum all these calls that ethereum is going to flip Bitcoin and all I don’t

See it happening and the more hype that you hear around this narrative the more you have to be cautious of this narrative because the reason that these big investors and hedge funds and all this they drive this narrative oh ethereum is going to hit 50,000 you just

Got to wait just hold don’t worry just hold look at this chart and this chart and this chart and this chart and you will see Bitcoin is going to underperform where ethereum is and so just hold to 50,000 everybody else is going to hold to 50,000 as well but

Don’t worry we’re going to hit it and then guess what we hit 30,000 and all those people who are driving the narrative about the the $50,000 ethereum they all sold at 20,000 ,000 or 30,000 so it’s really important that you formulate your own opinions on the market your own prices your own price

Predictions and basically like a good rule of thumb is whatever the main narrative is for the price prediction Bitcoin if they say oh Bitcoin we’re going to hit at $500,000 just guesstimate significantly lower than that pull profits and just sit back and don’t worry right I mean

It’s the same thing last cycle everyone said Bitcoin is going to hit $100,000 laser eyes laser stock to flow says $100,000 and they all sold at 70,000 all of the big money sold at $70,000 and left you holding the bag for two years that’s that’s literally what the market how the market

Flows and so uh you know there is going to be opportunity to make money don’t get it twisted Arthur Hayes is now saying that he has now dumped his Solana and bought more eth he said that he received a message from the Lord he said dump the Sam coin and profess your love

To vitalic he thinks ethereum is going to 5K and again short term right he’s a short-term Trader Arthur Hayes former CEO and founder of bitmex and so I’m not saying that I like agree with everything that they say but again I like to follow what rul says what Arthur Hayes says

What micro strategy said I I want to follow everything I want to formulate my own opinion about it and $5,000 ethereum is easy right we just saw Solana do a 10x if you don’t think that ethereum can do a double a 2X I don’t I don’t know what

Market you’re in right when this value drains from Solana it’s going to move where is it going to move I think some of it may move to stable coins some of it may move to bitcoin but there’s going to be some that’s going to move to ethereum and so these are the swings

That you want to look for the rotations in the market and play the medium game I’m I’m watching a lot of new Traders popping up a lot of people who have been very dormant for years years now they’re popping up oh look at this chart look at this chart entering here exiting here

Exiting here entering here go get this go get that is not I have never met a successful day trader who’s literally trading all day every day it just doesn’t happen um because the markets don’t move day by day right if you look at the price movements of Bitcoin

Bitcoin’s major moves like over 20% in a day those only happen over the course of like a handful of times like less than 20 time 20 days you see these parabolic moves over the course of the fouryear cycle 20 days right a four-year cycle 365 Time 4

Right three 365 days in a year times four it’s 1460 days and all of that less than 10 less than 1% of the days or about 1% of the days is when you see the major moves in the in the market so this is something to keep in mind it really

Is because we’re seeing the The Narrative about Solana but now Solana Saga phone orders are cancelled following inventory management issues as you guys know recently everyone was buying out the Solana phone because if you bought the Solana phone you would get more Bonk coins on the phone uh that

Would be worth more than what the phone is actually worth so even if you just bought the phone liquidated the Bon coins and threw the phone out you’d still be in profit which is pretty unbelievable but anyway uh they said in working to fulfill orders we learned that an inventory management issue with

A third party distributor has resulted in inaccurate representation of our inventory given this we’re unfortunately unable to fulfill orders that were placed after inventory ran out now keep in mind one week before these Bon coins were released and uh Bon basically going to be also added you know to the the phone

Ownership we were doing a story about so Lon of phones weren’t even selling 2,000 units they couldn’t even sell 2,000 units so when the boncoin came out and they got a surge of uh of investment and of surge of new orders they were probably like we’re just about to close

Down operations on the Saga phone and we got all these uh new orders we’re not going to be fulfilling these because it literally people were only buying it not based on the technology of the phone or because they like the phone it was just based on I want to get my bond

Coins so yeah another interesting story there so anyway we have we’ve covered a lot in today’s video right there’s a lot happening around the world in crypto there’s a lot more acceptance of crypto there’s a lot more money being driven into crypto there’s a lot happening in

The crypto space a lot of the companies that didn’t do well into the bare Market are doing very well now and uh you know I think that we have a very interesting couple of years ahead of us into the Bitcoin having of 2024 hopefully you guys enjoyed today’s video if you did

Make sure you guys are subscribed to the channel give the video a free thumbs up and I’ll see you tomorrow right here on the cryptoviser podcast invest responsibly do your own research in crypto on