PEOPLE HAVE GOT THIS CRYPTO MARKET SO WRONG!
A video dont forget to jump down into the Discord link is in the description of the podcast. Its absolutely free to to join over six and a half thousand people supporting one another navigate this space safely, its a fantastic community, and you should definitely immerse yourself in a great community in crypto. Right lets get down to the desktop okay, so were going to start here, and the first thing that I wanted to to cover off was that Mark crypto markets are undergoing a fight to Quality, says uh, one of the uh Chiefs at Goldman Sachs in DDs, the Digital asset Chief, as described in this article now um hes, pointing out to to key areas in crypto, in which the big Banks plan to focus tokenization, uh, remaking, the plumbing of the financial markets, and you know profound uh effect that digital currencies uh will have on Uh the markets and across all markets, in fact so um. This kind of is really interesting. For me, its one of those where uh Nick myself was saying years ago that everything will be tokenized and weve seen BlackRock um, you know come out and say that they believe everythings going to be tokenized. Now you know a few years later and I think that you know: Goldman Sachs are probably looking at it in the same way, particularly with this language being used so interesting to see this stuff, and I think its definitely important to to be keeping an eye on These sorts of things that are being said by these monstrous size companies, because you know its easy to get uh shaken out and worried that you know its the end of crypto with the SEC um.
You know pulling their weight Here There and Everywhere and articles, maybe uh, possibly being a little bit misleading in whats actually going on. So you know really important that were aware of this stuff and uh. You know I really like to highlight the fact that I think were going to see adoption weve got um aspiring, crypto Banks, uh pilot shows binance issues are just part of the story: um A custodia banks. Membership, rejection by the Federal Reserve board is more alarming for crypto banking than the recent trouble of binance. So this is really interesting that you know banks are basically being told no um, you know because they want to be involved in in cryptocurrency rather interesting, so um yeah, the Federal Reserve uh board, had denied its application for membership. So look I dont know really. What is going on with the US and uh why they are so negative towards this technology uh? Is it the fact that they are the worlds Reserve currency currently uh and theyre, worried that theyre going to lose that when it comes to everything thats happening in the world, I dont know, but you know rather interesting that we see this sort of stuff. Uh weve got Deutsche Bank in talks to invest in two German uh crypto firms um. According to Bloomberg, the banking giant Asset Management arm uh DWS group is looking to expand further into the digital assets space. So, look you, you know on one hand, youve got the US saying.
Crypto is bad. You know, banks are unable to offer. You know crypto services to to your average Joe uh, and then you know across the pond over in Germany. You have got. You know, Banks. Looking to to basically get deeper into to the rabbit hole of of cryptocurrency and blockchain Technology with Investments, so look, I think the US need to to Really uh work out what it is that they want and where they want to be positioned in the world, because, If theyre not careful, they could end up. You know far behind many other countries when it comes to to wealth and the the you know the benefits of the the economy over there so yeah look. Let me know your thoughts and opinions in the comments below uh. What does krakens SEC settlement mean for crypto? So stake in Kraken had a pretty lousy day, but the industry is more interested in what it means for staking, and you know I want to chime in Im not going to read through through the article, but I do want to chime in uh on on my Thoughts because I did watch um Gary Gensler, you know talk about this in in a bit of detail and he was basically saying that you know these exchanges just need to you know um, I guess put the right disclosures out and they need to apply through the Right channels and then its okay, its kind of how I perceive what he was saying so its almost like, maybe retail, is being told that you know there.
Isnt Clarity and the exchanges know that there actually is Clarity for for this aspect of things and theyre not going through the the right um. I guess routes to to do this in in the US, but this is a us thing. Its the same with the S um the SEC and ripple lawsuit. You know its um, its, not a worldwide thing. You know if youre in ucac and still buy xrp on many of the different exchanges. If youre in the US you cant so yeah looks its interesting stuff uh, I think the you know the projects doing their own staking where you know its not earned from a yield as as such its. You know your minting blocks on a blockchain and when you do that your pool gets. You know the the share youre working for something youre, not relying on a company to you, know, look after your assets and invest it well. In order for you to get a return, so these are a slightly different mechanisms and I think you know what does it really mean? It wont, I think, its going to become more decentralized and I think a lot of the exchanges if they want to to offer this service in the US theyre just going to have to go through the right routes um. Ultimately, I dont think its such a bad. A bad thing we saw something very similar, in fact, with nexo, and we didnt see this pullback like we have seen with Kraken, so yeah its going to be interesting to see you know what happens next, and that brings me on to this economist um here on.
On Twitter issues, Bitcoin and ethereum warning predicts. The next Bull Run will begin uh very, very soon matter of fact, at the end of the month. If we go over to this guys, tweet hes got 150 000 followers on on Twitter um. You know quick crypto Market view not adding size just yet, which is um. You know interesting uh think next ball run starts either with uh CPI or the end of the month. Btc and ethereum still have round levels below to run over not stressed about the market, either see this as a healthy pullback Turn full bear on only if CPI Beats by 0.2 percent. So I think this stuff is is um is disappointing for me because, like I think that weve got to to you know get that confirmation, I Think Were not gon na see uh a bull market kicking off. I think that the credit card debt is too high and its increasing and uh. I think that that can only happen for a certain length of time, with it being the most expensive way to to borrow money. I I think that you know weve got problems with Supply chains, I think were going to have retail, really heavily impacted. Um, overstocked and gon na have to sell things cheap. I think that um secondhand car market is um also going to have problems. I think you know theyre going to end up with you know more cars than they you know can sell, which again, I think will mean that you know theyre going to have to you know, make extreme losses.
I can see this getting far far worse, um before it gets better, so Im firmly against uh. You know believing what I am seeing uh when it comes to reading stuff. Like this, I Im just not a Believer um. I think that you know weve got a few months yet, and I think were going to you know, obviously a confirmation that the bottom is just already in or were going to see a new, lower, low and um. You know youve got it here. Bitcoin is already in its next bull market cycle. Uh again, this is uh some CEO of a trust, um Im, just not aligned, Im, really not aligned to any of this stuff uh. Where were talking about a bull market? I think that this is a bear Market rally. I called a bear Market rally, so lets just go back through this back in May. I called the bottom in June, the June uh low came in. It was the bottom at that point. I said it wasnt the bottom and we expect a new lower low. Ftx scenario happened. We got a new, lower low um, you know, and and at that point I was saying – expect some bear Market rallies. You know, and uh weve got this rally its a bear Market rally in my opinion and um, you know, look Im just kind of pointing out here, poorly articulating it. I guess yes, that weve been calling this stuff before it happens.
Unlike a lot of these people that keep just saying its a its a bull market every time you know you get a pump, um its a bull market and whenever we get a new low um, that is the bottom and uh. Now its a you know Were Off to the Races and thats not really how this Market Works um. So you know just uh careful who you follow, make sure you go away. Do your own research were not financial advisors, treat this as educational purposes only um, but yeah look. I hope you enjoyed todays video. Let me know in the comments below do you think were in a bull market. Do you think its a bear Market rally? Do you expect new, lower lows, or do you expect it to just? You know confirm that the last low was the low. Let me know in the comments below, if you enjoyed todays video mash up, that like button subscribe, if you havent subscribed already tapping that Bell, selecting all the notifications, so you never miss a video and I will catch you in the next one.