I Went on Yahoo Finance Live To Discuss Bitcoin
So look at bitcoin its at 48 200. Its been slowly crawling up and in no time itll be back at 50, 000 and since were moving into the weekend, theres low volume and theres, nothing really holding bitcoin back. I do expect some big big moves this weekend for bitcoin and not only bitcoin but all coins. The ones ive been talking about right now. There just seems like theres, nothing holding bitcoin back theres, no options. Expiration uh chairman powell also said that he does not plan on banning bitcoin or crypto and were finally out of september, so everything thats been holding bitcoin back is gone. That is why i think this weekend could be tremendous for bitcoin and all coins. Some of you guys may have caught this, but i did go on yahoo finance live this morning, its a big deal for me very first time i go on a big news, outlet or uh or broadcast. You know its exciting, but it was short around five minutes. Long, i think i answered the questions very well, but you take a look and you chime in in the comments below how i did i plan on going on the show more in the future, so that i could educate the masses about bitcoin and crypto overall. So take a look since im not streaming tonight and ill see you guys tomorrow, 11 30 a.m, central standard time all right enjoy. Welcome back to yahoo finance live bitcoin, seeing its biggest one day surge since july.
Take a look at the chart here, soaring more than nine percent the price inching closer to that fifty thousand dollar handle uh that we saw um, and then we saw a bit of a pullback, of course, after headlines, around chinas crackdown on crypto, we should mention ethereum. Also uh up in a big way today about um, eight percent or so lets bring in george a tongue. He is the founder of cryptos. Are us and george. We usually find you on youtube, but uh give me a sense of of what youre watching right now. Dont want to make too much of one day but um. What do you peg? The huge surge were seeing today too well traditionally, with bitcoin september, is the weakest month. So yes were finally out of september, but a few things that came out recently. That was very encouraging. Uh fed chairman powell also came out and said: hey im, not gon na be banning bitcoin and crypto. So that was a a big i dont know if its endorsement, but sigh relief for many in the industry also theres just a lot of things going on um. Yesterday we had a big three billion dollar options: expirations for bitcoin, so that could have been holding bitcoin back a little bit this final week, but now were in october, and things are just looking a whole lot. Better and george, i mean when you look down the line too uh. You know.
Regulation obviously still can can pop its head up whenever investors get skittish and we see pullbacks around that all the time, but i mean when you look farther out into the future. You think about these l1s out there that are competing with ethereum. It doesnt seem like the sec is looking at those right now and so weve seen pops that have kind of increasingly become uncorrelated. With the moves in bitcoin and ethereum, i mean how serious should investors be taking, maybe some of those all coins farther down the line? Well, the interesting thing is the sec already declared both bitcoin and ethereum as non securities, so ethereum being very different than bitcoin. Um was already labeled not as a security, so thats very encouraging for all other network protocols that are following in ethereums footsteps, and there are so many out there theres thousands to tens of thousands of crypto. Today many are following in ethereums footsteps trying to become ethereum killer, but many are in you know their own niche trying to be a utility trying to be a payment trying to be um a centimize token theres. So many out there, so regulations is its gon na. Be tough because theres so many things that the sec have to look at and right now it seems like gary did kind of state that most in his eyes are securities, but we will see how the scc and others really define what a crypto is.
What a security really is and right now the sec also does have a big lawsuit with uh with ripple and well see how that case goes george. What are you overweight on right now? Where do you see the best value or the biggest upside uh? I tell everyone all my audience uh to watch me daily not to skip out on bitcoin, because i i do feel like many coming into this space. They look at bitcoin theyre like wow its 47 48 000 or 50 000, and they feel like the potential. May not be there and thats one thing. I tell people dont discount, bitcoin, theres, still plenty of room to grow bitcoin. I think what were seeing with venezuela today is a perfect example, a really big endorsement for bitcoin, when you have countries that suffer from hyperinflation um, and we have countries that have monetary policy applied and just um just a whole lot of things going on. Bitcoin goes against that thats why bitcoin is looked at as a store of value as a hedge against inflation, so whats going on with venezuela right now is a perfect example. Why bitcoin is here to stay and theres many other reasons why bitcoin is is uh the winner right now, but as for all coins, there are a lot that definitely have potential like ethereum being one of them, but cardano is another up and coming. One uh solana is another one. I mean this is what i talk about: theres thousands out there and theres a lot of good ones out there.
Okay theres a lot. You talk about theres a lot we talk about here on the show. If we were to overlap the ones that weve discussed recently, people watching would know that weve both talked about tara and we had dokwan on talking about what theyre working on thats another one that, i think looks promising. If you think about what its trying to solve. Weve seen a lot of issues around stable coins and they have their own talk about. Why you like that project? What people should be focusing in on there? I i think tara is a fantastic project, though, is a very smart guy. Tara is interesting to have their own algorithmic stable coin, so theres two type of stable coins, algorithmic one which is pegged to a dollar, but you can also have ones thats, backed by assets which, like usdc or usdt. Those are examples, but terra is a whole ecosystem. Based on their stablecoin and based on apps that utilize them specifically d5 projects and d5 is what everyone is paying attention to right now, because d5 decentralized finance is a way for people to basically unbank themselves, so that citizens and and uh and citizens around the world. No longer need to rely on banks and banking services when you can use something that is equilibrium equivalent with d5 and arguably even better george, its good to have you on today. I hope to have you back on the show again soon.