Bull Run Super Chargers (Pumptober Takes Over Crypto)
The time when we tend to see the biggest gains in the shortest period now weve seen some pretty serious fight in recent weeks. The china ban evergrand the infrastructure bill, not to mention a stock market that could be running out of steam, but theyve done almost nothing to slow down bitcoins momentum, which is why i dont want to talk about any of that, because the bulls are running. The show. Now, instead lets talk about what positive news could look like in the months ahead, because remember theres, no trillions of dollars, waiting on the sidelines poison, ready to take a piece of the pie. What are they waiting for? Well lets. Call them bull, run superchargers talking about the kind of groundbreaking stories with the potential to send the markets into a full blown frenzy. Lets get it welcome to bible, crypto home of the bit squad, the largest and greatest crypto community in all the interwebs. My name is ben every day on this channel. I show you how to make money in crypto. If you like money in crypto, make sure to hit that subscribe button in this video, we look at a few ways that bitcoins price can get supercharged. I dont know why i did that movement ill just go with it when it comes to a bitcoin etf. The question isnt, if its when and many believe, that a futures based etf could be coming any day now, in fact, according to bloombergs eric balchunus, the chances of sec approval this month could be as high as 75 percent.
With pro shares the current 2 1 favorite. I mean i have zero clue how you actually calculate those odds. But the point is this: our old friend dirty garys been teasing the markets with a possible etf for months now, but he recently kicked the can on four spot proposals. Spot means physically backed why? Well, it comes down to something called the 33 act, which typically sees etfs registered as limited companies and puts tax obligations on the individual investor. So if were going to see an etf this month, or even this quarter, its almost certainly going to be futures based and falling under the 40 act, which apparently gensler loves almost as much as he loves patronizing retail investors by suggesting they start skipping those caramel frappuccinos Speaking of chinos hows that for a disturbing image, probably the only guy who could challenge charles hoskinson to a weird standing competition as a 2, 1 favorite, but anyways back to the etf, and why wouldnt it be rocket fuel for bitcoin and crypto in general. Well, there are wide ranges of investors chomping at the bitcoin for exposure to a new asset class, but not all of them can buy. That could be due to regulatory reasons or even concerns about self custody of crypto assets. So when you create an etf, you open the floodgates. You get a massive influx of individuals and institutions, rushing in to capture a piece of the pie and integrating it into their wider portfolio.
Take gold, for instance, once upon a time you had to bury it in the backyard or put it in your teeth, but ever since 2004, investors could gain exposure through etfs and just look at what that did for the price action. The good news is that btc etf is coming, and soon i mean lets face it theres only one thing: the us hates more than losing thats losing to france. Second worst is losing to canada, which has been luring american patriots like kathy wood to its own etfs. It really is just a matter of time before we have some here in the land of the free and the home of the brave future is based and then yes, physically, backed and when that day comes, and that could be this quarter or later next year. Well, theres, not a line on any chart. The bitcoin would struggle to break through the next big bull run. Supercharger is the settlement between the sec, verse ripple labs, which will surely be going to the judge scorecards any day now its a bit like the bitcoin etf, because, with the results so clearly set to go ripples way. Skeletor and his minions are doing their best to delay the inevitable silence you fuddy fool, ive, had it with your whining and bumbling youre finished here. Do you understand cast out vanished this week, saw the sec attempt to keep some potentially damaging documents relating to ether and xrp away from prying eyes, specifically those belonging to ripples, team of lawyers and, of course, judge netburn, and their strategy was to use whats called dpp.
Deliberatory process privileges – in short, it implies that the documents contain specific discussions about specific laws which totally undermines the secs main argument, namely that no policy making process was needed since xrp is according to them. Obviously a security in line with the howie test. It will be up to the judges to decide whether dpp applies here and the sec may be forced to hand over the memos. In other developments, judge dora has recently rejected. Xrp holders bid to join the cases defendants. It comes after over 12 000 xrp rb members filed a motion to intervene way back in april, saying they were de facto defendants in the case and wanted to protect their interests and like the sec, whose actions caused over 15 billion dollars in losses for holders go Figure, while the rejection isnt exactly surprising its actually good news, since it could have seen the case drag on into the next century, however, ripple has scored a win here, because judge torres is allowing attorney john deaton and some xrp holders to participate as amicus curie curious Friends, a party that is not involved in litigation was allowed to advise or provide information saying that a maikai status strikes a proper balance permitting movements to assert their interest in the case, while allowing the parties to remain in control of the litigation. One things for sure, though: the sec is seriously struggling to remain in control of the hearing and with the court actively seeking xrp holders meaningful perspective.
Youve got to wonder how much longer this thing can continue. I mean there just arent enough angles of attack left for the sec to attempt, so why would a ripple victory supercharge the bull run? Well, you may have heard my price predictions already with all this fun settled id expect xrp to go on a mega pump past. The 10 mark thats at least 10x from whats already a huge coin by market cap. Vast sums of smart money are waiting for this dispute to be over with and when that moment comes, and it will very soon, xrp is due a truly face. Melting move, its all a performance folks, even dirty garys. Former colleagues at goldman sachs are super bullish with the open secret that they will be jumping aboard xrpl for their future payment ledger system ripple is already literally piloting a technology for international central banks to issue and manage cbdcs. The effects of the sec turning tail would be immense. It would begin the definition of not just xrp but all cryptos as an asset. That would reverberate through not just the us but the whole world. A lot of money sitting on the sidelines would buy into crypto and could rocket the crypto versus market cap to unheard of numbers. Finally, q4 could also see some big announcements from some of the worlds largest companies, its not uncommon for corporations to engage in a little tax loss. Harvesting q4, before their books close for the year thats an old trick to minimize your taxes, while making purchases that benefit their business for the next quarter and beyond.
So, who might make some crypto buys well its been over eight months since tesla announced our 1.5 billion bitcoin purchase. I guess its only right. We get another big announcement soon, and i mean that with no offense to michael saylor, so who could be next well, the most obvious candidate would be twitter. We already know square holds btc in their treasury, but with the social media giants. Recent integration of the strike network plus the ceo who went from looking like this to this, it would only make sense, theyve been quietly stacking sats in a pretty big way. Other candidates would be the evil folks at facebook, but so far the only confirmed, bitcoin owned by blokfeld himself is literally a goat. Well, if this was his way of coming out of the bitcoin maxi closet, youd, imagine hes got at least a few btc stashed away in there, not to mention skeletons anyway. Next on the list of evil companies could be google, whose co, founder and alphabet president sergey brin admitted that so far, they failed to be on the bleeding edge of blockchain hes, also an amateur ethereum miner and, of course, with google pay partnering with exchange like crypto.com Native crypto integration would put them at the cutting edge. Then again, we havent seen the kinds of job listings from google that weve seen from amazon, who set markets into a spin a few months ago, with an available position for a digital currency and blockchain product lead.
Clearly, amazon would be the real game changer here whether they announced they held btc or were introducing crypto payments because as far as e commerce is concerned, theyre not just the market leaders, they are the market, only walmart comes close and theyre. Yet another major retailer hiring crypto experts, an announcement that came only a few weeks after amazons back in august. The race is on the question isnt, who its, who will get there first and who will be the next following teslas footsteps: put some btc on their balance sheet. Well, if its any of the ones ive just mentioned it would be the rocket fuel to take us to 100k or beyond in record time, so be ready. Christmas could be coming to crypto holders well before december thats. All i got be blessed. This video is sponsored by skillshare when it comes to crypto. You got ta, have skills thats. Why im happy to be partnering with skillshare to bring you the goods on getting to the top of your game? Skillshare is an online learning community, with thousands of classes made to inspire creators, classes are engaging and are curated to help. You explore new skills, deepen existing passions, get lost in creativity, cryptos are everyone, especially artists. Music have found a powerful ally in blockchain and dapps, like audius, putting power back in the hands of the artist. So, if youve been looking to make a splash in the music scene, now is your chance.
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