Blockchain

CPI INFLATION IS UP, BITCOIN & CRYPTO DROP. HERE’S THE GOOD NEWS…



CPI numbers are out and they didn’t hit expectations. BOO-HOO!! More time for accumulation then. However, there are some dangerous moves being made by governments and Bitcoin to 200k??

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00:00 – Introduction
01:00 – Market crash and negative sentiment
03:00 – Top 5 Signs Bitcoin is not dead:
03:30 – Sign 1: Growing institutional adoption
05:00 – Sign 2: Increasing developer activity
06:30 – Sign 3: Lightning Network advancements
08:00 – Sign 4: Regulatory progress
09:30 – Sign 5: Macroeconomic tailwinds
11:00 – Conclusion and outlook

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Hello everybody Welcome to the Tuesday live stream so today just like the thumbnail and title suggests looks like the CPI data is out and it did not hit expectations so unfortunately uh these things happen and it’s something we talked about yesterday now everybody was very excited yesterday

We were very bullish and that’s fine I’m still very I’m still quite bullish but these things happen and you have to understand that nothing goes in a straight line so these are the days that we have to sit back and take account of our portfolio and say well is this the

End of the world whatever it is 1% 2% down three and a half percent altcoins maybe 10% down no not really but it’s something to think about something to remember of why we talking about taking profits along the way now some people would say like this is the most horrible

Time to take profits because Rob tomorrow things will be different and week from now it’ll be great and then six months from now I’ll be great that’s true that’s all true as a matter of fact and of course I’ve been talking about how Lum suming and getting into uh the

Markets is a pretty good time anytime before the having however when I talk about taking profits I’m just talking about small little pieces so I don’t forget what it’s like because at some point we get a blowoff top you’re gonna have to sell at some point so don’t let

That uh cell muscle atrophy and waste away so today CPI number come out and uh we’re at 3.1% estimated 2.9 core CPI was 3.9 estimated 3.7 boring stuff but it is essentially what moves the markets little bits here and there so we’ll get to uh some some more bullish

Stuff in a bit but we have to have balance this was a great piece from Baron’s inflation Rose by bigger than expected 3.1% in January here’s what we have so the latest reading of the CPI released today at 8:30 in the morning showed the annual rate of inflation

Dropped less than expected to 3.1% so here’s the thing you have to remember this everybody is that uh we are dropping as far as inflation goes the FED is doing its job I know everybody hates them but uh hey they’re doing their best for the actual tools that

They have it just isn’t really dropping fast enough as they say so this is all based on economists who were surveyed by the fact set expected last month’s price growth to come in at 2.9% so essentially the reason you’re telling me and this is the truth the reason why the market is

Uh taking a a little pullback is because some Eggheads economists are out there going yeah we think 2.9 and it came at 3.1% and that’s why we’re down 2 to 31% in some different situations in our Market unbelievable that’s the market welcome to it core CPI generally considered a better gauge of underlying

Trends because you strip out energy and food prices it Rose by 3.9% which is the same Pace seen in December but yet again above the 3.7% economists forecasted and what was was this dire prediction and what did this do to the markets so we hit 50,000 yesterday now

We’re down almost 1500 bucks 14 1300 and something you know correct me in the comment section and this is one of those things this is going to happen nothing goes in a straight line let’s just take a look I’m just curious to see how everything else did

Coincidentally uh ethereum is up 2.6% in 24 hours that’s pretty good salana Li of steak that’s the same thing 1.8% 3.6 let’s see any big losers Bitcoin cash 5.6 that’s pretty big a mutable 3.9 and across the board so you know you’re gonna get those four six percents but some are doing pretty

Well 6% up for mantel 5% for render Multiverse up two four and a half% for ories for ordinals you know now that I’m looking at this quite honestly it’s the same thing we talked about yesterday right we talked about how you know when we see people take Bitcoin pumps first people sell

Bitcoin they get into high cap alts then they get into low cap alts and then of course along the way they sell and they go back into Bitcoin so this is actually nothing different than what you’re used to what we’re used to and you can see

That money is kind of flowing in that direction now over the last hour you can see a little bit of a pullback but I mean look even geez Lise uh mantle staked ether okay helium’s up 4 percent so again this isn’t the worst thing that could actually happen but what’s going

To happen in the future well I can’t predict that but I can tell you that as far as the fomc meetings coming out and from what uh rate hikes are looking to be it looks like we are right now at the the target rate are at 525 to 550 basis points and

Bips and in the next meeting which is on 20th of March 24 man it’s like a month away uh the the chances of it being cut rate Cuts happening somebody believes that’s it’s actually going to happen I don’t see who those people are but sure

Eight and a half percent 91% say no uh also the 1 of May over 61% say we will not cut rates and of course we’ll go to the next meeting which is in June and in June is when people are thinking over 50% that we will cut rates what does

That mean well it means it’s good for the economy but again when they start cutting rates I mean it’s good for the markets but but uh that means that there is a recession on the horizon I’m not want to predict that but that’s just

What it is so that’s what is going on in the macro environment that’s part of the reason why you see a little bit of a dip in the market I personally believe it’s different people who are taking profits along the way and rolling those into alts and just kind of blaming this on

The macro environment however there is something else that I find I found very interesting today as far as governments doing governmental stupid things this is uh from James Van Stratton he’s a lead analyst over over at crypto slate and this is I guess going out to uh

Customers in in the UK in Kraken for Kraken if you are a customer in the UK of Kraken please verify this because it’s always good to get a second opinion but here’s what we got this is quite concerning hello blank person regulations the UK require that we maintain up-to-date information about

Our clients and their account activity regarding self custody wallets you know what those are those are the ellip pals those are the ledgers those are the tangents those are the metamasks those are Titus those are Phantom wallets those are all the things that are self custody wallets where you

Manage your private keys please reply to this email and answer the following questions please confirm that you are or are in control of this self- custodial wallet that you are sending and receiving from if you do not own or control the self custodial wallets that you are sending please detail which

Addresses these are who the owner or controller is and provide their residential address that’s a ballsy move so right now a lot of you are just shouting at the screen going good luck I’m not going to give them that information you don’t have to if you’re

In the UK obviously I think this could actually go Global I think this could actually happen What would happen if this doesn’t actually go through and you say you know what good luck I’m not going to give you that information well here’s what they could do after you reply our support team will

Make sure to clarify any questions you have if we do not receive response by February 23rd we will have to place a lock on your account until we obtain the information we requested thanks for your cooperation and have a great day essentially so what this means is this

You’re either going to give them the information or they’re going to shut you out of Kraken and that is just a centralized exchange type of thing now moving forward that could also happen with binance if you don’t remember uh the US government essentially didn’t take down binance but they did take down

CZ and they had him in the in the courthouse and they essentially plad guilty to AML and kyc mishandlings and uh actually his hearing or his sentencing was pushed back later so right now the US government does have their tentacles in that I see a problem coming in for self custodial wallets and

I’ve said this before and I’ll say it again centralized exchanges are not the solution dexes are the solution now on and off ramps it’s anybody’s guess very hard to shut down everything I do think that when you do these things in these countries it just creates a pocket and

Then it creates a vacuum for the other countries who are above and beyond and say okay we get the value added proposition for Bitcoin and crypto and digal assets so if you’re going to do that over there UK we’re going to let our other customers do this thing and

We’re going to allow you guys to do any kind of trading and buying and selling of your different assets that you have and come this way so UK can do that America can do that Canada can do that have fun but in the end it’s really

Going to come down to the people that are going to decide what they want to do and where they want to go good luck governments best at you anyhow let me show me think about that in the comment section so we talked about some somewhat negative things and kind of dis

Disproved them now let’s go into a little bit of craziness um I don’t like to do these things too much as far as price predictions but it was quite appealing and I thought it would be relevant today as we talk about the negativity Bitcoin alltime highs so this

Was a good article from coin Telegraph Bitcoin ogu called 2021 alltime High sees 600k bitcoin price by 2026 let me say that again and try try not to cough too hard Bitcoin OG who called 2021 alltime High sees a 600,000 bitcoin price by 2026 before we go on I’m not

Saying that Bitcoin is going to to 600k I think it will appreciate I think it’s going to be somewhere my price prediction is this Bitcoin will be somewhere between $5 and $500,000 somewhere in that area is where Bitcoin will be I learned my lesson in doing price predictions I think they’re

Ridiculous uh but the factors behind them are quite compelling so who is this Mast OG this is tur deer nailed it uh he’s a reports that Adam a research he’s on the board of uh the Texas Bitcoin found or TX Bitcoin found I say not Texas blockstream unchain decom and

Anchor watch and he’s been in the crypto digital asset mostly Bitcoin space for quite some time and this was the article they’re referencing and I read when I first read this article I’m like was this today because he says uh tur demer says bitcoin price above 50k not insane

At all I’m like this is I thought this is what we’re talk what do we is 50k yesterday but no it’s made 19th 2020 and before everybody starts to starts to scoff and laugh let me remind you around this time of what was happening so here’s what he says

Actually no I shouldn’t say that let me go over here this was on May 19 2020 you know what the price was back in May 19th of 2020 it was 9,760 and this was right after the seresa sickness in around March 15th or 16th when we when we were flying high at

10,000 on February which was right about now in the four-year cycle time and plunged all the way to five grand imagine losing 50% in what a day two weeks yeah that’s not fun but that’s the market so he’s over here and he’s like yeah I could see 50k maybe

Do 100K but that’s it so here’s what the article stated he says I think a price target of like 5 50k is on insane La would even say between 50 to 100K and that’s for this piece and he put out nice little Parts as far as ta accumulation reac accumul 12 months ago

Bitcoin break broke out of his accumulation phase reaccumulation started to break out of this band ignited another parabolic parabolic rally so that was his call for that cycle and I’ll be damned if he wasn’t correct and remind I will remind you remember in 2021 we had everybody even

Myself thinking that 100K was pretty low I thought at least 150k at least and I was wrong everybody else was wrong so I like to hear these articles about people who who got it right and what they think is happening right now but it’s seems kind of farfetched 600k but wait it gets

Better demra says the reason is because Bitcoin will react to trillions of dollars in bailouts he said I’m targeting 200 to 600k by 2026 fueled by trillions in global bailouts and stimulus will bont says uh what kind of bailouts are you talking about he goes and tur says this of Banks and

Governments for example US Government today is already spending more on interest payments than on the military and that’s true we like to print money we like to give out bonds have different countries invest into us in our debt and of course unfortunately we have way too

Much interest to pay on that and he says the only way to keep this going this Ponzi scheme well he didn’t say that I said it only one way to keep this going is to print an ocean of money and I will remind you what happened when they print an ocean of

Money was right back here in March 15th of 201 20 the treasury came out with the fed and said we are going to Enlighten everybody and turn on the money printers for quantitative easing and we won’t stop until we hit an equilibrium and they started that right

Here and we went all the way here and all the way to here and then here and we printed like crazy and that was before we had all of this monstrous debt that we have to service so when tur says here bailouts and there was a great

Video by guy at coin Bureau where he talked about bailouts and the world economic forum and the central banks and what they’re trying to do not bailouts but bailin when I saw this I’m like this could happen now does that mean 600k no but there is something to be said for

That and lastly before we get out of here and we’ll do a little Q&A I just want to remind everybody that there are other cryptos besides Bitcoin like ethereum I know it’s not a sexy thing but just be aware that uh when we were taking a look at this it

Was quite interesting right when we talked about the alts ethereum being the top alt uh it’s up 2.6% in 24 hours even though Bitcoin took a tumble why well part of that is that Franklin Hilton just joins the race to launch a spot ether ETF other issues such as AR and

Black rock submitted their s1s for the potential funds that ended last year Franklin’s also interested in staking the eth held by the proposed fund and a decision on the spot eth ETFs is expected in May and also Hester Pierce uh crypto mom as there as she is called

For the SEC has stated that when they are taking a look at these ETFs they’re going to go by precedent for what happened previously for the Bitcoin ETF and apply that to other ETFs for other cryptos and digital assets and eth is on the Block so we’ll see if that gets

Approved and that could be one of the reasons why things are going pretty well for ethereum now me personally I think if you’ve been here for quite some time um You probably understand that there’s maybe some other opportunities out there I can’t tell you what those are I’m not a financial

Advisor or your dad but uh I think traditional markets are looking at ethereum and going yeah let’s get into that but I think some of us might know something else Beyond ethereum and I think we’re going to front run them just like we front ran them with Bitcoin just

Going to front run them with ethereum and moving forward that’s it for today so look like today’s video give it a thumbs up consider subscribing everything we talk about is time sensitive especially moving so fast into the having April 20th

27 Comments

  1. Very bad news for the UK! I left the UK in 2007 due in part to the over regulation environment which was creeping into our society. As a former member of the British SF & a veteran of 3 combat tours this really saddens me. We didn't fight to protect our freedom & values for it all to be eroded by one nefarious government after another. Many of my friends made the ultimate sacrifice & it wasn't for the type of society which is emerging today! Love & peace, Charles, out!

  2. Stop listening to influencers who constantly tell you to take profit while they HODL and sell for 10x, 20x and 30x. Even then never their whole bag (which they keep some for the next cycle).

  3. Picture a scenario where XRP's full capabilities come to light, and its valuation truly represents its potential. Whether you're a crypto newcomer or a veteran trader, it's an opportune time to explore the prospects that XRP brings to the table. Don't let this financial tidal wave pass you by. Embrace the shift and discover its promise.Amidst this the insights of a knowledgeable guide like Elora Ashton can be crucial. Her expertise in navigating the nuances of cryptocurrency investments could be the key to understanding and making the most of these emerging financial trends..

  4. There were so many people throwing around price predictions, statistically there would have to be some that got it right. Doesn't make them a genius, just makes them lucky. Doesn't mean they will be lucky again.

  5. Thanks for a good review of these cryptocurrencies, I generally trade now only Bitcoin by technical analysis on Fybit, I hope this exchange will add more coins soon, it is convenient to put pending orders on it

  6. Unless you are an idiot and trading on leverage etc, there is no reason to take profits at the moment. If you are chipping away and staring 1 minute charts and have no life because you are in and out 20 trades a week, then taking profits is probably not the best idea right now.

  7. Similar in New Zealand
    I tried to use my credit card to deposit funds, into my Australian crypto broker.
    The CC co. had put a lock on it, for suspicious activity
    That wanted to know what it was for
    I told them, none of their business
    They eventually took the lock off
    I told them, if it occurs again, I'll shut down all my accounts!
    A shite societ!!!

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