You also might think about the entire crypto market in a little bit of a different way. So what ive basically been picking up the last couple of hours here or more specifically the last couple of days, is that theres gon na be some very big crypto fud coming up within the next couple of days or actually its already kind of there now, but Usually, people pick this stuff up a couple of days afterwards and every time we report on it and we see oh, we were right again. Oh were right again now this time. I really really hope i am wrong, but i am mentally preparing you guys and youll see so. First article we got is relocated. Chinese miners in kyrgyzstan will now pay more for electricity. So basically we have seen this up. I actually say, like this weve seen this huge downfall and now kind of a almost getting close to all time, high again, um, basically mining power for bitcoin. We talked about how the whole china debacle was bad short term, but really didnt didnt have any effect, because, theoretically, speaking of all those chinese miners left, decentralization would go up. Theoretically speaking and obviously the difficulty in the bitcoin network would adjust so it really wouldnt matter in any way shape or form. So, from a certain perspective, i guess you could have even called it good. Then again, a lot of those guys switched over to texas and kyrgyzstan and a couple other countries over in that area.

But now, apparently some of them will pay more for electricity, which again is a little bit of a funny thing. You can already kind of smell it, because if a lot of big miners will have to pay more for electricity, this might lead other countries, for example, to eventually start working on something to kind of bundle together or something like that. Just kind of putting up the uh the dots here and actually, for example, here i have a couple of things prepared for a next video but its also stuff. You should kind of start thinking about biden to raise a coalition which is just kind of a teamwork of 30 countries to combat the illicit use of crypto um. This kind of falls into the story with what ive just told you guys, because well a lot of these countries could actually say hey. If you are running a bigger mining operation, your electricity is going to become so freaking expensive because it is wasted electricity. You might say uh: any person could decide what they want to do with electricity themselves, yeah yeah, but also, no because again, youre, not the person who decides and if they say, hey, youre, literally wasting electricity for this money, which we do not like. We want to make it way more expensive for you to do that. If you really want to, they can definitely try at least most likely. Not all countries work towards it, but dont forget how much influence the majority can, for example, have on this and, theoretically speaking, no country is really against making prices higher because they earn more money.

That way, i guess in some form theyre never going to actually ban it, but they might of course, increase their margin on it a little bit if all others are doing it too, because again in a perfect coalition, theres benefit for every country leader. In that sense. Now lets move on, though, because again guys, you got to kind of connect the dots here with everything that im, showing you and again guys make sure you press that, like button, if you enjoy these daily crypto updates, i know its not the xrp special, which i Usually give you but its kind of something for every crypto huddler out there thats just important to know us lawmakers want to know powells plans to support crypto as many as seven lawmakers from the united states. Congress have sent an open letter to the federal reserve chairman jerome powell, demanding to know how the american apex bank aims to support innovations bordering on digital currencies and again, two things to kind of know about this. One is one: people are fearing like crazy: that theres gon na be some sort of new tax rules and weve, of course, seen the infrastructure bill right. I mean yeah everybodys everybodys everybodys seen that, however, what has come out of it? What is going on right now? Well, i had it open somewhere through out here too. Let me quickly see where i can find it guys because ive been trying my best, but i have so much stuff open, sometimes as well, because im just making different freaking stories and whatnot uh lets.

Just kind of you know conclude the story here: the freaking infrastructure bill is a really really big mess right now and the problem is, we dont know whether or not the version right now will be accepted uh. How far is going to be stalled for because its already been stalled right now to the 31st of october, for example, you can see. Biden is being frustrated like that. When will the changes come? Will the changes actually affect crypto and all that type of stuff? These fears and these pressure points are basically building up here. You can see another article u.s lawmakers urge fed chair drone pilot to support crypto innovation. Yet i saw a couple of other articles which basically state that jerome powell has absolutely no intention to do that, and then i saw a couple of other articles that quote elon musk from a couple of months ago. I believe that basically say: jerome powell should leave it alone, or all these guys should leave it alone, because it will figure itself out. My own personal stance is people try to install fear upon you when a decision is going to come. Basically, we all know these guys will try. Their best is best to make the most amount of money for it and from it, but ultimately it will not be the most bullish thing we can think of and any decision that he makes is gon na in some way shape or form be seen as a Negative one for crypto as a whole and so im telling you guys once more be careful with any new info that comes out on the infrastructure bill on jerome powell.

In terms of his opinion on anything tax, crypto related uh, which again it comes down to the things ive said prior because again, you can see here. Crypto fears, tax imf after power backing understand, right, theres, gon na be different, different um perspectives, but the baseline is going to be the same whatever he can put out to the public, even though it might be long term good. Even if he says oh, we want to regulate crypto properly and nice haha long term. Very nice, very good short term. Fear trust me when i say that fear is all the people we hear whenever he lets go of his statement, and so it just depends on how people are going to trade. It, though, right because even though we got peoples mindsets in our our you know our vocabulary here, we know we know what theyre going to be thinking it doesnt mean they will actually buy and sell cryptid that way, peoples, thoughts and peoples. Actions are definitely not one to one um and so again what theyve done now? The imf – and i have another article open about this somewhere throughout here, but lets kind of skip it for now, because i i dont know, i think its here there we go. Imf recommends cbdc and global crypto standards for financial stability right. This is basically people are building on saying. Oh, the imf is bullish on crypto yeah. So right now, okay, things are going well huh, im telling you guys, once more, so much fear is being installed in a preparation, type of manner.

One decision can kind of wipe all the excitement out im just telling you, the international monetary fund recommends cbdc and global crypto standards for financial stability, as it showed concerns about market irregularities, including tax evasion through the use of crypto. Again guys. Tax evasion through the use of crypto whats, her name yellen. Even what was it yellen? I believe, even said that they could, for example, go for a new rule where they tax unrealized gains. But coming back to the point which we earlier made guys biden coalition illicit use of crypto theres, something brewing up, i just want you guys to know it. I also had this one, which is basically that there can be more and more crackdowns. I mean china is one of the first countries to actually say you know screw it. We dont want to be involved and exchanges kind of following the the signs saying you know what were not going to allow that same thing could kind of happen to other countries. In some other shapes, i am not saying that the us is going to ban crypto altogether because they cant, let me say it differently – they wont try to, because that would be too much of a battle that they cannot win ultimately, because i dont think theyre gon Na try, but they can make it very annoying in some way, shape or form to hold it or to get it or to acquire it, and dont think that these exchanges will all just be fine, dexters, decentralized changes, of course, theyre to always allow you to do Whatever you want because thats the whole point of it, but exchanges will eventually come to terms a lot of people said: oh, you know, china can ban it, but chinese people will always be able to do that.

You know yeah, no, i mean if they go for the simple exchange, fine right, but even some of the the the exchanges like binance, for example, that are known to not need kyc might just already start blocking the chinese ip addresses, for example, and if you ever Want to put your kyc in people thought i was going to always be fine, basically, but nope. I think a lot of things are going to be very, very difficult for chinese buyers, um, and the same thing of course goes for the u.s already now in the u.s. You can actually not buy on most platforms that im even buying my crypto on a little fun fact all right, but i kind of wanted to keep the video um a little bit on the shorter side. So, to kind of conclude what ive, what im trying to install put up on you guys is not full fear of saying things are going to start selling off like crazy, but i am kind of smelling a little bit of of a baseline already of some new Decision in the either imf – maybe jerome powell, specifically maybe on the biden front, because hes already kind of preparing a couple of things to take action – uh, maybe some sort of bigger china sort of foot thats going to come from a certain direction of corner again. Right now, its going so well all right, crypto prizes are doing good, were really close to a breakout, were just having a couple of key levels like right here about 48.

5 000 that were trying to hover over um, and things are just looking so so so well. But were not in the clear for bitcoin, i still want to break out of 50.5 000 before im gon na be, you know, completely excited, and even though all coins are just looking joyfully well sometimes this is what they want you to think before, slamming it down That is also why guys i have a long position to open on xrp, as you guys know it, but im being a little bit conservative until the breakout is even more confirmed, im extremely bullish. Yes, but i am so fearful because again, a lot of people are missing. All these hints of whats going on in the background. Now that want to regulate crypto and again, a couple of decisions are being stalled. The infrastructure bill is being talked about right now and buying this is stalled. One troy dollar should be able to get done. Okay, you know, but whats gon na happen to crypto i mean the decision has been delayed. People dont get this. The decision was supposed to be made at the end of september, the senate was or the house i should say, was gone into the end of september, so they were to make a choice, and you know get some basically updates on that um. We might have even gotten a bigger infrastructure bill. We might have dizzed at this that but whats happening now, its its all being stalled.

People might see this as fear. We might get some some crazy to happen from that. Just want you guys to quickly understand and know that is it for todays update so again, dont sell your crypt or anything like that. Im, not saying that this is not financial advisor legal device. In that sense, either just give you guys my opinion on the markets and um.