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    I’m going to tell you why you shouldn’t be afraid of a little bit of a pullback or cool off or retrace or whatever it is that people call it first of all look at this we are still in greed yesterday we went into extreme greed so greed extreme

    Greed people are still buying it just so happens that there seems to be a lot of selling and something else I’m going to talk about all right so first of all if you at the charts you will see that actually ethereum is in green and in the

    Last 7 days it’s 11% up why because the energy is starting to turn to the next thing I’m talking about the prospect of an ethereum ETF so we know that this is coming because Black Rock and possibly other organizations have already submitted their applications for an ethereum spot ETF and and apparently the

    Due date for that application is in August at some point so we’ve got time but the excitement means that a lot of people are jumping into eth right now taking advantage of the fact that ethereum had been relatively quiet over the last few weeks while other tokens

    Were pumping right so a lot of money is moving from Bitcoin profits taken that is into eth right because that’s what Wales do they cycle their money down the market cap list right and see how far down we are we’re number six still holding our own we’ rather be higher

    Than that but in due course so look Solana’s taking a bit of a a proper nose dive right because it pumped a little bit too hard and Solana is one of those tokens that you know it’s going to pump again the minute the market turns around

    But this is normal after an entire week of anticipation or frenzy expectation there’s always the antic climac dump right you can call it a retrace a cool off whatever and it’s healthy another thing that is happening is this there is a lot of excessively should I call it greedy people since we’re in

    Extreme greed or we were in extreme greed anyway there’s a lot of people who were excessively greedy and place very large leverage trades on and by the way everybody can see the trades right the exchanges can see them the whales can see them and more of often than not

    These trades get liquidated and shaken out by the whales and sharks and orcas or whatever you want to call them and this often causes the market to dump a little bit further than it should and usually takes slightly longer to recover however having said that the market was

    Supposed to have dumped a little bit lower but a lot of buying remember we’re in greed right a lot of buying made sure that the market didn’t dump as far as people anticipated if you zoom out you see that in fact we’re slowly climbing being Higher and Higher and Higher and

    Higher okay so xrp xrp is basically just behaving like Bitcoin at the moment because again there isn’t any particular xrp specific Catalyst to make it move and I think that basically once the ethereum frenzy ends that xrp is going to be next and another thing about this is I believe

    That xrp may even get an ETF before ethereum I know that black rock has submitted or some kind an application to the SEC but between now and August if one of two things or both things happen then that might be a really good day for xrp one if Gary gendler gets fired and

    You know that’s a possibility now especially after that little stunt that they pulled with the fake news the day before the ETFs were approved so that’s the problem secondly if the settlement comes in for the legal Shenanigans as I call it with ripple and the SEC if that

    Comes to a proper end and xrp comes out as completely free of legal issues then companies like Black Rock JP Morgan gry skill all those guys will now surge forward with their possible xrp ETF applications right and once we get wind of that who knows knows having said that

    People would tell me this is this is what the push back is going to be in the comment section they’re going to say look we just had a Bitcoin ETF and now the market is tanking it’s kind of expected right there’s been a lot of frenzy a lot of

    Heating up in the market people have got over excited we went into extreme greed and when we’re in extreme greed the market just has to come down because it’s totally unhealthy and when it comes down like this then it shakes out the greed and then we can climb up now it’s

    Only been 2 days since the ETFs have been trading a lot of the companies haven’t even seeded their ETFs yet apparently some of them are just offering Futures and it’s only a matter of time before everyone really really starts to chase after less and less Bitcoin and when that happens we’re

    Going to see the direct result in the charts also remember that a lot of these big companies like grayscale JP Morgan AR invest all of those guys a lot of them are actually acquiring their Bitcoin OTC so it’s not really their buying frenzy that has affected the pump

    Right it wasn’t that wasn’t what pumped the market yet that was just basically formal right but when they are out of Bitcoin and they have to chase Bitcoin on the market that’s when the fireworks are going to really start and when the whales have to cycle the money down

    We’re going to see some of the alts respond to that and of course xrp is going to be Unshackled to do what it needs to do ethereum ETF again I’m not very positive about the ethereum ETF thing a lot of people say that vitalic is sort of Pals

    With the SEC and is sort of their boy so there’s a good chance that they might give him special dispensation like they did with the whole Commodities vers versus security thing with eth tokens however the US government the current US government is just not happy about this

    Whole ETF thing the only reason why the spot ETF for Bitcoin was approved was because it were backed into a legal corner by grayscale so we kind of have grayscale to thank for this ETF much like we have Ripple to thank for you know the setting the president about the

    Tokens being not Securities even though the president has only been set for xrp but other tokens now have the confidence that they can March forward and actually fight the SEC and win so what I’m saying is the the US government that is there right now now right the ones in power

    Are very unhappy about the situation with Bitcoin much like here in the United Kingdom where the government is trying to clamp down on it they are trying their best to clamp down on it on that side as well in fact Gary gendler even though he voted to approve it he

    Wasn’t overall happy and he had to express that in the post approval speech that he gave right basically he was saying look I don’t condone Bitcoin I don’t basically undersign it I just think that you know we can’t stop it so basically there you go and a member of

    The United States government Elizabeth Warren made it clear that she doesn’t think Bitcoin is legitimate she’s raised concerned about the Securities and Exchange Commission decision to approve spot Bitcoin ETFs in a statement Warren criticized the SEC for allowing these Financial products without ensuring that they adhere to basic anti-money

    Laundering regulations but of course they do what the heck is all the KY for right everybody now is kyc all of these companies have to display all of these messages when you log in they all track you now they know who you are the money laundry that’s happening with these

    Companies is happening on the cash end of things right with JP Moran Black Rock Swiss banks and all of these big institutional Banks they’re the ones that are money laundering every year okay and they get a slap on the wrist if her argument is that these products aren’t adhering to basic anti-money

    Laundering regulations then one what are the regulations give us those regulations number two can you tell us where they don’t adhere and how they don’t adhere which companies don’t and what product don’t and how don’t they are the regulations not sufficient or are they just not adherent to the

    Regulations it’s got to be one or the other I bet you it’s neither the regulations are there the companies are compliant otherwise it would close them down how would grayscale win in a court of law against the SEC if they weren’t compliant with the law of the land it’s

    All nonsense and fod spreading right she’s saying that the SEC is wrong on the law and wrong on the policy with respect to the Bitcoin ETF decision if the SEC is going to let crypto borrow even deeper into a financial system then it’s more urgent than ever that crypto

    Follow basic anti-money laundering rules now she exposes the real reason why she’s upset which is borrowing into the financial system so basically cryptocurrency was invented or Bitcoin anyway was invented to counter the constant deflation and the overprinting of money and just basically the knapping of the citizens of the World by

    Governments right reaching into your bank account and your finances and your wealth and devaluing them at will this is what Bitcoin was created it was created to be a store of value that is scarse and not controlled by anyone especially not government and this is

    The key issue and this is the heart of why Elizabeth Warren isn’t happy anyway this is not Financial advice not legal advice not political advice most definitely do your own research and I’ll see you in the next video peace

    6 Comments

    1. Ade, you keep a cool head. Thank you. Keep it up. Again you have a talent for keeping things simple and your voice is calming. Emotion is what we don't want.

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