SHOCKING BREAKING NEWS: The SEC VS Crypto Regulation
I am removing oppressive parties. I am removing traditional financial products, people like the sec away from me and my personal decisions right now. That is the only solution we have to all of these legalized cartels, and it is getting absolutely ridiculous. Of course, im gon na go ahead and go over what was said with mr gary gessner and guest speaker elizabeth warren, because you all know she had to chime in but anyways looking at bitcoin. We are still in a very, very tight contraction period and let me tell you something: if were actually able to flip 48 000 into support. It is pretty much go time for me. Yes, we are above moon girl, time support, but we also see the bollinger bands. Simple moving average 20 here at about 48 153, if we can get a nice candle close above that continue to consolidate and then rock upward. I would be a very, very happy girl also too generally, when the sec comes on and they start pointing fingers spreading fud. We can see people rise together and opt out with bitcoin. As far as our indicators go. We have our macd that looks like it wants to bull cross and head up. Rsi is running upward. I am still weary for a pullback to 43.5 to 42 000. Just in case, it is always good to have two scenarios and to act on those scenarios, especially if you are day trading now for our bitcoin 12 hour chart lets get a bigger picture.
This looks bullish, it looks beautiful. We have macd thats, getting ready to bull cross and head up rsi thats, also running upward as well, and it looks like we created a local bottom here about forty four six again, we got ta flip that forty eight thousand dollar area and we are good to Go but this is a pretty bullish setup that were noticing here on the 12 hour chart. Taking a look at the four hour chart four hour chart is looking good, except we have hit some resistance at forty seven thousand dollars. Rsi is heading downward. Macd is running upward. Our indicators are conflicting. That is okay. So, in order for this momentum to continue to go, we really need to stay above 46 for right now, because that is where the ema 200 is either way guys a bullish scenario would be for us to flip and stay above 48. 000.. A better scenario would be for us to kind of consolidate back at this range between approximately forty, four five and forty seven thousand dollars all right. So the sec came out and we saw gary gessner, which is the sec chair, testify in front of senate banking and banking gop, which is those congress folks anyways. Basically, this conversation was an absolute joke. They talked about stable coins being dangerous because of investor loss. Stable coins are pegged one to one to each fiat currency that it is associated with stable coins are not fully backed one to one by each us dollar or each fiat currency, but they are backed by other things, bonds and different stuff, like that, we talked about It on the show – and this is kind of similar to other financial products in the united states and to fiat currency, even though you have one dollar and theyre, stating one dollar equals one dollar.
That dollar is not necessarily backed by one thing, its backed by a lot of different things. In the united states, stable coins are probably some of the safest products and we have projects like usdc that have done their due diligence that are really trying to work with the sec. Tether, on the other hand, has had some hiccups, but at the same time they got called out, they paid a fine and they are good to go and theyre working on becoming more transparent. The next thing that they talked about was gamification and how dangerous gamification is to investors. There is no difference between gamification online, with crypto and with gamification playing magic cards or playing with world of warcraft or some of these other games. The difference between utilizing blockchain technology for actual games is that you get to have ownership of particular in game items. You cant necessarily do that with older types of video games. It doesnt work that way and a lot of these video games. They have value on secondary market theres, different things you can sell on the secondary market like collectors items and were already doing that on ebay. So if youre gon na come and say that gamification is an enemy and that its bad, because people are actually making money off of it, then please, by all means get rid of ebay, get rid of these people that are buying antique goods, vintage goods, designer clothing And reselling it on ebay, it doesnt make sense to me maybe im wrong here, but when im trying to break it down and rationalize it, it sounds like a very bizarre problem and then, of course, we had elizabeth warren and other people chime in talking about how Dangerous cryptocurrency is for the environment, its not all of that dangerous, its really really really not.
It is an excuse for control and the sec said over and over again, gary gessner said over and over again we just want to protect investors. You are not protecting me. An investment is a risky investment, no matter what it is, theres different risk threshold. Yes, but at the end of the day it is all pretty much the same. I know people in 2008 who lost their life, savings who invested in 401ks and iras and other traditional financial products, because things dropped and even people with house prices. A lot of people lost their their their homes and their wealth, because house prices dropped so dramatically and they had all these crazy loans out. If you want to protect investors, let us spend our money where we want to maybe consider having caps, maybe consider having us. Take educational courses, i dont know what the answer is, but i do know i dont need to be protected by somebody from the sec. That is not in my wealth class who hasnt shared the same life experiences i have. I do not need your protection and i dont think any of you guys watching this need their protection either. Lets talk about our next story. This next story from benin, applebaum, whatever the people using bitcoin, are basically a bunch of cosplay libertarians participating in game of make believe on the playgrounds of the nanny state, and until this past week i wasnt worried about it. You know what just because somebody has a difference of opinion of you.
Doesnt make it wrong, you can use bitcoin, you can use cryptocurrency, you could use ethereum and you can use fiat currency and it could all be cope. Aesthetic these people just want our tax dollars and thats fine, but putting out articles like this and speaking on it list, things like this – that you really dont understand were not playing cosplay. We value our freedom, we want our privacy, we want to opt out. We are tired of the big banks taking advantage of us, so articles like this take them very lightly because its a little bit ridiculous here and it is not very accurate nor true, some more news to protect the american people, because now the biden administration wants to Track all inflows and outflows for all businesses and personal bank accounts over 600 dollars, and this right here is a tweet from my friend mr anderson from paypal, confirm your taxpayer status to meet a new irs requirement. The irs will soon require anyone receiving 600 payments for goods and services to confirm their tax payer status. There used to be a law for paypal to where you didnt need to actually file taxes for income, hurt, earned below, i think, six thousand or ten thousand dollars, but now they want to see everything youre spending your money on. This is scary, very, very, very, very scary. Also. You could actually just use a digital dollar for this purpose, also because youll be able to see all trans transactions pretty transparently, but i dont agree with that.
I think we should be able to keep things private and we should also not be policing people over six hundred dollars. There is so much oversight that is going on with all these new legislations and laws coming into play that they are becoming scary, very, very scary and im not here to be a conspiracy, theorist im, not here to say some crazy stuff, but it is just becoming A little bit too much for personal bank accounts over six hundred dollars. What happens if i want to send my mom seven hundred dollars to help her pay a bill to help her pay something? I have to report that to the irs now, because i want to gift my mother with 700 or 600 dollars getting to be a little bit ridiculous. We need to unite. We have to do something because im not with this, this last story and then were going to talk about solana. Sec, chair, doubles down, tells crypto firms come and talk to us. So gary yesner came out yesterday and basically said that exchanges need to do a better job of working with the sec. Brad armstrong from coinbase tried to talk to the sec. Crypto companies are trying to talk to the sec. They are trying to meet on middle grounds and the sec, and these legalized cartels are making it so complicated for us to do so. Im trying to pay my crypto taxes and it is becoming such a headache, every single satoshi i earn.
I want to pay taxes on it. I want to do the right thing, but theyre making it so so complicated and down over here they said we just dont, have enough investor protection in crypto, finance, insurance trading or lending says gestner. Frankly, at this time, its more like the wild west or the old world, a buyer – beware that existed before the securities laws are enacted. This asset class is rife with fraud, scams and abuse in certain applications. Its really not. It is really not all the top cryptocurrency exchanges in the united states, coinbase ftx us gemini crypto.com celsius. They are pretty strict, they make you kyc and they dont just have everything listed youll see different listings on different exchanges. This is becoming to where theyre flipping the narrative about protection and its not its more about control on there and and again im all for meeting halfway in the middle through, so that everybodys getting their fair share. But this is becoming really ridiculous to where theyre not even willing to work with us. They telling us to come to them and talk were trying to come to you and talk and youre, not listening, anyways solana, time all right. So we got some fun regarding solana. Solana has been down for hours due to resource exhaustion. Validators may have to restart the recently rising blockchain network after it was overwhelmed by transactions. So apparently, this was done from bots on d5 protocol rada and we all know salon is kind of like a centralized project and thats okay, its a project.
I have a moon bag of. We support it on this channel. I talk about it a lot, but the reason why i wanted to bring this up because its important to talk about peoples, fault and also their praises, so we had to talk about that solana has been down, which is a little bit worrisome and scary. Also too, it said in a twitter reply, the ceo of solata told a user that the issue is due to overwhelming transaction volume from bots during an internal decentralized exchange offering or ido for a project, and basically ido is like an ico or an ieo. So basically, it was a bunch of bots that hap that came on the radem platform and were causing this issue. This is dangerous, and this is bad, because if it consists it continues to happen, solana might not be the actual ethereum killer, either way for price. This is a positive thing. Let me show you why when we get fud in the market, it causes price to decrease, and if you felt like you missed out on solana, you may have another opportunity to get it. On the 12 hour chart ive got my areas of support. We have 72 dollars, we have approximately 97, we have 132 all these additional areas of support for 121 to 97, and also we have our ema 30 here at about 153, which were currently getting close to testing. We had called for a drop, and i gave two scenarios um possible, drop to 160 and then a pop up, which that doesnt look like its going to happen and then another drop to 143.
However, this was before the news came out so because of this bearish news, we might see a further drop if youre interested in solana. If you like the project you may want to consider, setting limit buys to scoop some up. I do think that solana will get this issue fixed, but in the meantime we will experience a little bit of fun and a possible move all the way down to 145 and even below, if youre, using leverage to trade solana be careful if youre, just interested in Buying accumulating and buying the dip now may be your time. Thank you guys. So much for watching have a great rest of your day. I will catch you later.