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good morning afternoon or evening ladies and gentlemen all in crypto here and welcome back guys on this fabulous Friday for of jam-packed daily cryptocurrency market update and this one indeed is going to be a jam packed one we are at the time of recording 15 hours away from the Haring by the time you guys are watching this round about 1 p.m.
UK time we will be uh round about 12 hours away from the havening so tomorrow the new supply of Bitcoin that comes onto the market will be cut in half and there's a great fundamental narrative that really supports our idea and the things that we're looking at technically in regards to us now being in a ball Market certainly Bitcoin and the broader altcoin Market is really still yet to see its time to shine but that typically comes after the harving we are going to be talking about that to start the video off as always if you are new to this Channel and finding yourself on my videos for the first time today don't forget to check out that subscribe button because we drop an update just like this one around 1 p.m.
UK time every single day to help you guys step up to St with the latest and greatest things happening within the crypto space but also thead Market that's what we're going to be doing in this video so we're going to be starting off by sort of uh taking a look at the harving then we're going to be hearing from Jamie Diamond reiterating his stance in regards to bitcoin and even though I don't think that Bitcoin is a Ponzi I think the real Ponzi is the US dollar and the other Fair systems I think they are a a fabrication they're a story essentially that we've been told and we play this kind of game even though people don't view it as a game because of course money is so important in all our lives you know it's it's it's very important and there is a direct link there with freedom you know if you have have a certain of level of Finance you can do more things and so on and so forth so we're going to be looking at a clip from Jamie Diamond then we're going to be talking about what's going on in regards to Israel Iran um now I'm not going to be getting into it but what I am going to be saying is I think whenever there's a pullback people look for a reason why uh and actually in yesterday's video we kind of broadly outlined why the markets are pulling back and I think it has a lot more to do with the uh Readjustment in regards to implied interest rates the uh sort of surge if you will in oil that's all factoring into the dollar which is leaning on risk but when you look at the stock market when you look at Bitcoin when you look at whatever it is it all looks very healthy and a okay so I think that has a lot more to do with things than what's taking place with Israel and Iran I also just want to say this although I'm not doing myself any favors in regards to saying this whatsoever take what you hear from the Western media with a pinch of salt okay we'll leave that comment there then what I want to do is dive over to the Bitcoin chart um but before we do that perhaps I want to play you a clip of Brad garlinghouse who of course is Ripple CEO he was on I think it was CNBC yesterday uh talking about how he believes this industry is going to double by the end of the year that's very much in line with what we're looking at in regards to Total to and where we think Bitcoin is going that would give you R about that $5 trillion market cap which we think is very plausible and we've been very persistent despite this pullback in coming out and telling people not to panic okay and trying to put into perspective this pullback showing you that actually this is what coins do in a bll market they sell off by 30% 35% we looked at ethereum and it's journeyed from $88 all the way to 42k this is part and parcel of the crypto space and if you can't handle the heat get out the kitchen um and it's hard to handle that heat but that's why we try and be a persistent voice uh in what is a rough SE at time so let's start the video off and let's start things off obviously with taking a look at where we are in relation to the harving harving harving whatever the hell you want to call it call it um we are now 14 hours away 15 hours essentially by the time you're watching this will be about 12 hours away from the havening this is where the supply Bitcoin gets cut in half this is really what's Driven the markets uh you can also say actually liquidity Cycles there an overlay of the Bitcoin harving and liquidity cycles and things like that um which is very interesting but this is great news the supply of Bitcoin is going to get cut in half the new Supply we've got a real institutional demand for Bitcoin um there's this great fundamental narrative that is also very much accompanied with what we're looking at technically for Bitcoin but we're going to come on to the charts in just a second so this has got me very excited if we look at something like the brave new liquid coin index which is probably the longest dated chart that we have for Bitcoin we put it on a monthly time frame you know this is essentially the effect of the Haring the majority of the bull market in my opinion is absolutely still to come um what I want to do now before we get into everything else is dive over to a clip of Jamie Diamond reiterating his stance on bitcoin and I agree with one thing that he says just not the others crypto if you mean crypto like Bitcoin I've always said it's a fraud there so no hope for it well if it's if they think they're a currency there's no hope for it it's a Ponzi scheme it's a public decentralized P so I do think there isn't much of a hope as Bitcoin as a currency I don't think there's anybody that would argue you could practically use Bitcoin as a currency even with the lightning Network um however what it has proven to be is a flight to safety a way to mitigate the f ing real Ponzi scheme which is the theat systems um and he's he he's very cautious in just attacking Bitcoin and not the broader crypto space or blockchain um and you've got to remember JP Morgan is really one of the banks that is propagating the system that you currently have in the United States um and ultimately you know he's he's he's going to have a dog in that fight and defending it and again the real Ponzi scheme really is uh the US dollar there's no doubt about that in my opinion um let's now talk about what's currently taking place so the cryptocurrency market saw a little bit of a drop yesterday and it was really to do in regards to this news Israel carry out limited strikes against Iran sources say now there has been sources from Iran that have actually said there was an explosion but it it might not have been Israel um where do I start I really don't want to get into I'm not a geopolitical reporter I I don't know all the facts so it's not really my place to say what I can say is that you have to take the Western media and what's propagated with a pinch of salt uh I think we're all in agreement with that whether you sit on the left whether you sit on the right whether you sit in the middle whatever you are wherever you are I think we can all agree that there's a degree of um bending the truth we'll just say that happens when it comes uh to Western media and the reason that I bring this up is because people are using this as a kind of reason if you will for why the markets have sold off and it is a factor there's no doubt about that but is it the reason or is what we looked at in yesterday's Daily market update which I encourage everybody to go and watch who really dove into things technically in the sense that you see um rates now being implied as higher for longer that's seeing the dollar do quite well which is moving with oil the reason rates are implied high for longer is on the back end of inflation which is the the whole reason the dollar went up and rates went up in the first place that's leaning on risk and Bitcoin is very correlated to risk and we looked at the Naas St 3x um leverage uh ETF from Wisdom Tree yesterday and Bitcoin we overlaid them and show you how they very much move in sync so I I think that this is news I think news is news this is why we target uh and and stick to the charts because the charts paint a very uh clear picture and just to kind of really reiterate that again before we move on to some comments from Brad garlinghouse of course is the um uh Co is he coo Ripple I think he might be C Ripple you know this is very much still an uptrend for the crypto space and let's go over to that so we're showing you the kind of normality of the pullbacks that we saw in the prior bull market and and and this one is very much intact now remember we do have still the potential for this forming a right shoulder that's going to see crypto go to $3.7 trillion and this is the total to excluding Bitcoin this is still very much an uptrend and you have pullbacks within that Trend you know if you look at Bitcoin very much similar this is an uptrend and yet people are bearish and they're prematurely bearish it's because they're following the news and they're emotionally reacting to the markets rather than technically having an assessment of where they are uh what I want to do now is actually dive over to a clip that I'm going to speed up of uh Brad garlinghouse talking about this industry more broadly talking about regulations talking about his prediction in regards to where this space is going this year and I actually largely agree with him we will be doing a video on Ripple later on or XR r p xrp for me is one of those cryptos that I'd rather get caught with than without just in case it does that 2017 style move um which I think there's a potentially structure to suggest it may uh but it's not something that I'm overly in so it's it's it's not a large part of my portfolio less than 5% or round about 5% I'm happy to take that bet on it um but also you know being coins that are going to do well or better potentially not hoping for that Spike that may or may not occur uh so let's dive into this clip now are a brad Garling house um and then we'll close the video up on some final thoughts first assess where we are in this market because crypto's up huge in just the last couple of weeks right well it's been up it came down a little bit this past weekend uh but I think if you step back the last six months bitcoin's up about 250% I think you're going to continue to see Tailwinds partly because of the ETFs that have been approved which you and I spoke about in at Davos but also the upcoming having which is imminent yeah it's a great it's a great point the ETF uh introduction really broadened out the market in terms of potential users I think and people wanted to get in on it so they bought an ETF to do so but you recently predicted that the crypto Market will double in size to5 trillion by the end of 2024 that is a big prediction just by the end of this year yeah I don't even feel like it's that big a prediction when you step back and you know like any Market this is driven by supply and demand you have decreasing supply for a whole bunch of reasons the having Bitcoin being an important one you have an increasing demand the ETF being a key part of that uh and I think it's also people realizing that crypto plays a role as an asset uh you know the $2 and a half trillion dollar market maybe it's a little less than that now but so it's basically just predicting it's going to double by the end of the year and uh if anything I I think I probably underpredicted that so I was going to dive into his second comments there in regards to regulations I'll probably do a video on Ripple and xrp later on today um really what I want to do guys is just say have a fantastic friday um you know I wish people the absolute best when it comes to the cryptocurrency space and I really do believe I agree with Brad you know I think this space is going to double and then some um the total market cap we looked at total two let's talk about the total um this is where we're at and people are bearish and it's so annoying I'm so sick of the Bears that by the way have been wrong for the past two years now at this point um or you know since we got back into the market in 2023 and every time there's a blip come back and I just don't know I don't understand it guys really don't uh and I do think there's an amazing opportunity here and it's about understanding how to um achieve that opportunity or how to uh embrace the opportunity and not getting shaken out uh by likely players that manipulate the market or or or or that do certain things and and understand where you are from a technical perspective not from a news driven perspective if you invest and your investment thesis and your emotions are driven by the news and it's designed to be that way by the way um you're going to have a lot harder time of this than than somebody like myself what we do here on this channel what my patrons do in regards to just sort of following along uh and we're emotional as human beings but you know you need to learn to deal with that and you need to have a perspective on the market and and really be able to harness it but all season is really yet to come we're really yet to see Bitcoin dominance rooll um that is really all I've got for you guys so I want to know your thoughts in the comment section happy harving for tomorrow I will be making a a daily market update hopefully probably from home um and yeah that's all for me have a fantastic friday guys I'm going to love and leave you see you all in the next one thanks a lot for watching
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