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Hey, welcome back ladies and gents for another jam-packed daily market update. You should all, if you watch this channel daily, and I know many of you do, and thank you very much for that, have been prepared for what's happening in the cryptocurrency space from a price point of view right now. And what I'm um I take no enjoyment out of this, by the way.
I would rather be long and strong and uh have a basket of cryptocurrencies that I believe in for the long term, but I think there's an opportunity in this downside that I'm looking to take advantage of. Have an entire group of people that are doing the same thing. In fact, we've even been looking at leveraged shorts on the likes of Micro Strategy and such, which I don't recommend at all.
Um, but one thing that I'm enjoying seeing is just how bearish everybody's getting. Some good news in this kind of sea of red is that I don't think we're that far off. In fact, I could see Bitcoin having kind of uh one leg lowerish and we're on that journey. It could be quite severe. I still think there's a macro kind of storm to stall markets.
It's going to be interesting to see how crypto reacts in regards to that. But one thing um that I'm really liking is just seeing how some altcoins that I believe in to hold in the future. Uh you know where they're sort of coming in regards to price uh levels. Um so we've got a lot to get into. We'll of course look at the charts.
Bitcoin playing out literally exactly I said Ethereum cap USDT. A lot of the altcoins uh literally just have their sort of lower journey ahead of them. I guess there's a a black swan that can be watched in the form of micro strategy potentially. This is quite telling in regards to perhaps setting up a right shoulder that we've been looking at for a long time.
Um we're going to come on to all of that, but before we do, we've got some very interesting clips. One's from Jamie Diamond, who kind of presents the crypto industry, but can't help but to admit it's the future. and he talks about the Fed now and everything and how it's all yet to embrace distributed ledger technology.
And then we got Bessant yesterday and we're not going to talk about his calling out of the individual that called him corrupt and then he sort of threw it back on him and we'll be looking at what he says specifically in regards to the cryptocurrency space. So without further ado, let's get into this first clip of Jamie Diamond
products uh adopting some aspects of blockchain. Has your opinion about cryptocurrencies changed? It's not about cryptocurrencies. We you we're one of the biggest use of blockchain. I think blockchains we've been talking about for 15 years. Okay, we're still talking about it. I do think it'll replace financial market infrastructure.
We have a JP Morgan deposit coin. We can already move money 24/7. And but I do think, you know, when when crypto folks point out the weakness of it, they're right. You know, you can there a lot of change make it better. Fed wire could be, you know, the Fed wire is five days a week and, you know, 10 hours a day.
It could be why not six days a week, 20 hours a day. And real-time payments have a huge benefit for people. All true crossber costs too much and we will be part of fixing that. And I'm not that worried about stable coins. I've always all I've ever said about that. If you have them, they should have the same rules and regulations as us.
AML, BSA, KYC, you know, insurance, you know, disclosures, liquidity, transparency, social requirements, which we have, you know, if just a level playing field is all we asking that kind of thing. I do think it'll change some of that stuff. Not worried about it. You can see the reluctancy in him to kind of admit that crypto is the future.
he kind of feels usurped and like he has to now get on board with it. It's kind of like someone that resisted the internet but then had to pivot their entire business towards it. That's JP Morgan obviously has been quite harsh about Brian Armstrong. Um yeah, we've got some really interesting videos coming up for you.
You know, we're we're kind of I'm very proud of what we built here as a media company as far as crypto's concerned. We're kind of at the heart of it right now. You know, we're interviewing all of the big foundations, all of the big crypto projects, all of the big regulators, including digital chamber that's going to be coming for you soon.
This industry is going in one direction. It's very apparent. It's just going to take a little bit of time. Let's listen to what Scott Bessnad say. We're not going to listen to him ripping um the one individual a new one, but we're going to listen to what he has to say specifically on crypto as this is a crypto-oriented channel.
And I couldn't agree more with you that economic security is national security. I gave a speech at the Reagan Library uh outlining my thoughts on that and how for 25 years the US has been asleep and under President Trump's leadership uh we are uh moving forward very quickly on that and part of that is our digital assets initiative.
Uh the strategic bitcoin reserve uh is something uh this is new technology. This is new ground. We are proceeding the with all deliberate speed and we are making sure that as we are doing this in this complicated process that we use best practices and things will be durable for the future and look forward to working with you and your team on that and I look forward to the clarity act being passed this summer.
Clarity act being passed this summer. Very interesting. You know crypto is literally a matter of national security. Let's get on to the crypto market. It's very fitting that just before mass adoption of this technology, they're going to literally shake retail out of it. And then you'll see institutions, which I think is going to drive the next wave of a altcoinled cycle really actually start to uh position aggressively as they know they're going to need these digital commodities to access this onchain world.
Sailor in the hot seat. Sailor's done this once before, potentially now at a bigger scale. So micro strategy for me, these draws in the way is a catalyst. We've looked at this as a potential head and shoulders that would take it down to 22. I I'm not going to talk about the short products that we've been looking at and actually are in partially very small positions that are doing well.
Really, that money is just there to be made to to to to eventually get back into crypto on its next leg lower potentially. Um, we're looking for a similar bottoming signal to what we had here. All the ding-dongs say, "Oh, RSI oversold. That means you must buy." No, ding-dong. You don't understand how the RSI works.
What you want for this is a divergence. Okay? So, yeah, you likely get a bounce on the oversold territory, but you want to make [snorts] a new low with a divergence, meaning that this is a momentum based indicator that it doesn't um compute. It's not it's not the move is almost driven with less intent, which can be quite telling and a good turning signal along with other technical signals.
And we are a technical analyst at the end of the day. And often I'm a hypocrite. You know, sometimes I ignore my own TA to my own peril, like here for example. But this one we said wasn't going to be the case. This is a more pronounced bare flag that likely takes Bitcoin down to 50K. We've given you targets for Ethereum at 1,200.
It's well on its way there. Um, you know, we were giving these at 2,300. The total market cap, again, this has kind of made its rising wedge target, but has a $ 1.7 trillion market cap to get to. And USDT DOM, which is a key indicator for how well or not crypto is going to do, has nearly made our N 8.9 target.
you know, lots of people getting into Stellar. I won't give you our big time frame target for Stella. You know, we're a buyer of this well into the future. Um, you know, maybe you get something like this. Certainly something that I'm watching. Um, we'll see. But the cryptocurrency market weak, Michael Sailor getting a lot of the blame for it, but I think the real test is going to be look, crypto hasn't benefited from the appreciation the stock market scene.
I do envision a macro storm that will stall the stock market and I think the Cosby looking quite top here and I don't think we're far off that. The dollar may be an indication. This has been rangebound. It's kind of deviated above it. I think the dollar is going to spike along with oil and financials.
So, we're talking about the debt markets. I still think that's to come, guys. Um, despite oil being beat down, oil is moving on the pretext of the war being done and a deal being imminent. Meanwhile, the straight has been closed this entire time and you couldn't believe a damn word that's been said out of uh the president's true social account.
And guess what? I say that and instantly everybody gets extremely angry that is a Trump supporter. I have said a million times I was backing Trump going into this. I don't agree with a lot of what's happened. I wanted Trump for America, not for other countries. Um, if that makes sense. And maybe that's selfish.
I'm not an American. I'm in the UK. Just like I want our prime minister to have our best interests at heart. And that doesn't mean our all the white people in the UK. That means everybody who is British. British is very multicultural. I come from um Birmingham. Some of you may be able to tell by accent.
You go to Birmingham. It's an extremely multicultural place. I grew up alongside everybody. Okay, there was never any issue, right? Issues have come a little bit later with certain dynamic changes, whatever. I don't want to get into that. And you know, skin color has nothing to do with anything. By the way, why they make that that an argument and a focus point, let me just make this abundantly clear, is so they can divide and conquer us as as as human beings, you know.
Um, getting into very interesting territory here, Robert, aren't we? Uh where I've gone with this is, you know, like I want a prime minister be to be for British people, British, and we and we're a nation of, you know, if you look at the British Empire and and and so on and so forth. Anyway, in the same way I wanted Trump to be for Americans, he seems to have put other nations first over the good of America and uh the world more broadly.
And and that's where I'm a little bit, okay, this is interesting. I'm not going to say anything on that. Um, so you're talking about somebody that backed Trump. I'm saying that I don't think based on what we've seen that his social media related to the whole situation here, let's get back to and not dangerous territory.
Um, you know, I I don't think you can believe based on what we've seen a lot of what's coming out of those true social accounts, the straight isn't open. A deal hasn't happened. A ceasefire is not been the case. There's been literally firing going off on both sides. Both sides have admitted that, by the way.
It's not that I'm not taking the Iran side here. I still think there's a finale to this and it sees oil go to 150. It sees the Treasury yields go to the direction they want to which is the upside and this is going to introduce rates. Kevin Walsh's meeting is going to be interesting and really quash I think any calls for cuts maybe even introduce calls or or speculation for heights and he's going to want to do away with the dot plot.
Um which is fair enough because it kind of means then you have to stick to it. I had a great conversation with Jim Biano and Arthur Hayes. Um but but but for me I still see a macro kind of escalation. I think that still weighs on crypto. I think South Korea is interesting certainly with the the Cosby because they're massive crypto investors.
That could lean on our market. I I I see more caution as far as markets are concerned right now than um as far as crypto is concerned anyway than than reward. I I say all that. Look, we've been making loads of money in AI buildout stocks and think that we've got one particular AI stock um that if you position correctly in is going to certainly it's going to retire me if it gets anywhere near the targets that we've got for it.
Maybe you guys as well. You want to become a Patreon and find that out, do um I know it's 30 pound a month or whatever it is and some people see that as a lot, but it's times like this when we when we make calls that you may see the benefits of. Remember, it's a non-financial advisory basis. So, so Bitcoin, let this happen.
You all should have known if you watch this channel that this was coming. It's happening. The the velocity of this, I mean, it's it's it's micro strategy probably largely behind this. The the the the the black swan or or or issue for crypto is this. And I think Bitcoin dominance is is definitely to be watched.
Um again, this is micro strategy because this does have a downward direction. Eventually, Bitcoin dominant comes down to 21%. And that's because a lot of what Jamie Diamond's admitting has come to fruition and crypto is now the backbone and and that involves altcoins more so than Bitcoin in my opinion.
I still think there's a place for Bitcoin. I think if I could believe the Bitcoin narrative as in its inception story, um then, you know, we I'd be a total Bitcoiner. I just don't and think it was introduced to us to usher in something different. Um which is often the case. If you look throughout history, it's like the Aldrich bill.
And then they said, "Oh, well, we'll do this in the good of everyone and we'll we'll not give it to Wall Street. We'll give it to our own cabal." Um, that is Wall Street just in a different format. Wow. Esoteric on this one, guys. I'm going to love and leave you. It's always a pleasure. Hang in there.
Great opportunities lie ahead. Don't look a gift horse in the mouse. In the mouse. In the mouth. That's it from me, guys. Thanks a lot. So,
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