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Hello friends my name is Rich D and look at this this is the editor of cointelegraph who is now based in Dubai and here's how she commented on this media Outlet's blunder yesterday of spreading fake news about Bitcoin ETF adoption right in the comments whether she's right or wrong this is about a post on cointelegraph and yes it was disastrous and that's an example of what it shouldn't be but that's what happens when we are constantly Under Pressure to be first with every news story and it's not a journalism problem it's a societal and technological problem I'm talking about indexing on Google and social media where if you're not the first you're the last there is no second or third place yesterday I suggested something similar that cointelegraph were just trying to be first and therefore made a mistake it's really true if you're not the first you're the last it's a famous Ricky Bobby quote in other words the cointelegraph editor says Google social media indexing and Technology are to blame and so they are under societal pressure to be first but when people lose hundreds of millions of dollars because of it is that the right thing to do write in the comments what you think under tremendous public pressure cointelegraph put out this article explaining the situation and what happened inside the company and if we flip through it we see that they have some secret telegram channel of 46 members isn't that the one we were talking about yesterday I don't know how but somehow some Insider got in there and said Bitcoin with p o VF was approved and everyone said come on is that true and at the end of it they simply agreed with the news and shortly thereafter this so-called Insider deleted his account I don't know how this man was invited there and I don't know why everyone just believed him but it happened and then cointelegraph published its Sensational tweet about the adoption of the Bitcoin ETF based on this secret chat what happened next was everything I talked about in yesterday's video but what will happen to the market when we get a true spot Bitcoin ETF Bitcoin instantly skyrocketed $3,000 in a single candle just based on a fake from coint telegraph's Secret chat room why did it roll back all because the news turned out to be fake I mean what happened is like a trailer of what lies ahead and some people even think that maybe it was done on purpose to test the market to see how much it would move the US Securities and Exchange Commission has already commented on the incident too they tweeted be careful what you read on the internet the best sources of information of anything related to the SEC is the SEC itself unfortunately we just gave Gary a good excuse to continue his line of behavior I wonder if he will use this episode as a reason and argument for not endorsing spot ETFs at all I hope that's not the case after all today is just another deadline to make a decision on many applications could it be that Gary gansler is the man with the deleted account from coint telegraph's Secret chat room maybe he snuck in there and leaked this false information but it's definitely not what the market needs right now as we all await the launch of a true spot ETF Black Rock and its CEO also responded to the incident and today Larry fin clarified that this bitcoin price rally wasn't just fueled by rumors of an ETF launch he said it was much more than that let's hear it this price rally is beyond rumor I think today's price rise is a flight to Quality by investors given all these issues with the war in Israel and Global terrorism and I think more and more people are running to Quality whether it's treasuries gold or cryptocurrencies depending on how they feel about them I think cryptocurrencies will also play a key role in fleeing investors from all sorts of problems this is an interesting formulation the flight of investors to Quality so in effect Larry thinkink is saying that Bitcoin is about quality that the best thing right now is cryptocurrencies it came out of his mouth and in fact Bitcoin went up today and then fell back down again on false rumors but Larry thinkink says who cares it's still the best we've got Bitcoin is an escape into quality people are realizing that you can't trust the government and you can't trust the banks you also can't trust central banks like the US Federal Reserve because they don't care about us they only care about themselves and they don't really care about our interests they certainly don't preserve our purchasing power which drops year after year due to inflation so we have to take care of ourselves and such a quality Escape according to Larry is Bitcoin and the spot instrument will open the way to that escape and Larry Fink is not the only person who believes this Cy wood says Gary gansler is the only one standing in the way of opening that road it's up to the US Securities and Exchange Commission and I think we all realize that caddy wood is very optimistic about Bitcoin she expects it to be worth $1.5 million dollars in 2030 that's in the next cycle not this one that's how optimistic she is about Bitcoin and cryptocurrencies in general and Arc invest also has a bid to launch a spot Bitcoin ETF with a deadline in January here's a very good example that even whales can succumb to emotions this whale spent $613,000 to buy wrapped Bitcoin and then sold it for $564,000 after learning that news of the ETF launch turned out to be a fake he lost virtually $50,000 in 10 minutes but here's the thing after the Bitcoin price collapsed on the fake it did rebound again and if that whale had held rather than sold his losses would have been much smaller as we can see buying and holding is often better than fidgeting with selling and buying every 10 minutes yes if you get it a few times in a row you feel the high you'll eventually get hooked on it's dopamine it's endorphin it's adrenaline and then you'll get greedier and greedier until you overdose and are simply eliminated that's what leverage does don't play with it it will lead to failure by the way one of the reasons why Bitcoin managed to stay above $28,000 after this price drop can be considered that the People's Bank of China injected almost $300 billion of yuan into the financial system without changing interest rates and it's the largest liquidity injection since December 2020 just in time for the pandemic well markets as we know love liquidity we'll talk about liquidity in the next video I'm working on right now so subscribe and hit the Bell so you don't miss it it's going to be very important also don't forget to support this video with a like it really helps to promote them the number of Bitcoin wallets with balances between 100 and 1,000 Bitcoins has jumped dramatically sentiment report Reports look at that jump there it is this may well be on the back of people seeing yesterday's incident as a rehearsal for the real ETF launch but in addition to Wales retail investors and concurrent long-term holders are also accumulating Bitcoin and they bought $11.35 billion worth of bitcoin as part of a dollar averaging strategy few people can immediately shell out $28,000 for a single Bitcoin but what almost everyone can do is invest $100 a week and thus accumulate a whole Bitcoin over time it is also interesting to note the activity of old and long dormant Bitcoin coins Crypton writes someone knows something we don't know about the surge in Old Bitcoin activity strangely occurs around the same time each cycle usually before Bitcoin begins its massive rise the exception is 2019 and 2020 because we had a big market crash due to the coid pandemic but if he hadn't been there we would have recovered faster so this is one of those moments we are seeing a big spike in old coin activity and perhaps this is a hint of preparation for something bigger this chart shows it even better this is the biggest jump in old coin activity since July 2023 yesterday you and I were talking about How Some central banks are looking at tokenization as the future of money and I remembered chain link after all according to k33 research chain link is the safest bet for tokenizing real assets chain link already has the infrastructure in place to connect everything together so that it can communicate with each other without errors or problems chain link seems like a natural tool for asset tokenization ethereum is also an option but chain link has many advantages over it for example Australian banks are already testing chain link just like New Zealand Banks and even Swiss banks they are all testing chain link and its infrastructure in order to tokenize real assets deposits Etc apart from this chain link also has some sort of breakout on the charts the whales began to load look at this wallets between 100 and 1 million tokens added another 5.12 million links in the past week and finally I want to end with some War news a very bad topic to talk about but it affects the markets so we have to talk about it Janet Yellen says the US can certainly afford two Wars at the same time it's easy to say that when you control the money printer of an entire country she's the US Treasury secretary she's in charge of printing money she could print a trillion dollars even today if she wanted to that's why she's comfortable saying that but can the US really afford two Wars when in fact it is already at war with its own inflation right now I don't know but it's a little disturbing and it's going to be related to the topic of the next video and I don't know if Janet knows what's going on or if she's just a puppet being told what to do I don't know tell me in the comments that's it my name is Rich D see you in the new videos I'll see you soon
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