0:00

In today's show, we'll be breaking

0:02

down the latest Bitcoin price action

0:04

as we do each and every

0:06

day, as well as breaking news.

0:08

Hong Kong Bitcoin ETF issuers consider

0:10

seeking approval to trade in mainland

0:13

China. You know, this is a

0:15

pretty big deal. We'll also be

0:17

discussing Wells Fargo, reporting exposure to

0:19

grayscale and pro shares Bitcoin ETFs.

0:21

That means Jamie Diamonds. Yeah,

0:23

I mean, in all of these big

0:26

banks from JP Morgan to Wells Fargo, all

0:29

gaining exposure to the

0:31

King crypto. Yeah, I mean, pretty

0:33

big deal. We'll also be discussing

0:35

SPF maintains his innocence as he

0:37

trades rice in jail. Oh,

0:40

you can't make this ish up trading rice.

0:42

Yo, whoa. We'll also be discussing crypto analyst

0:44

says bullish cycle, not yet over, predicting $100,000

0:47

Bitcoin in this fourth quarter. But there

0:50

is a catch. We'll also be discussing

0:52

the fun strat CEO predicting when Bitcoin

0:54

price will reach not only 150,000, but

0:58

also a half a million per coin,

1:00

as well as Jack Dorsey says Bitcoin

1:02

will be worth at least a million

1:05

dollars by 2030. Send it

1:07

all this plus so much more in

1:09

today's show. Yo,

1:17

what's good crypto fam? This is

1:19

first and foremost, a video show.

1:21

So if you want the full

1:23

premium experience with video, visit my

1:25

YouTube channel at crypto news alerts.net.

1:27

Again, that's crypto news alerts.net. Today

1:30

is pod number 1600 and

1:32

35. I'm

1:34

your host JV. It's lit in here

1:37

today. I got the brew. I got

1:39

the herb. And I'm ready to kick

1:42

this thing into high gear. It is Friday.

1:44

So TGIF, hopefully,

1:46

now that we have corrected quite a

1:48

bit and had this BTFD opportunity, we'll

1:50

now have a little weekend pump. What

1:53

do you say? Let me know. And also,

1:55

yeah, it's May 10th, 2024. So let's dive.

2:00

Right into it, checking out the market watch,

2:02

as you can see on your screen. We

2:04

got everything virtually in the red right now,

2:06

correcting moderately. We got

2:08

a modest 3% correction on

2:10

Bitcoin on the day. Ether down almost

2:12

4%. TRX,

2:14

one of the only gainers in

2:16

the top cryptos. And

2:19

checking out coinmarketcap.com. We

2:22

got a 2.3 trillion market cap, with

2:24

62 billion in volume for the

2:26

past 24 hours. Bitcoin

2:28

dom is 53.3%, with the Ether dominance at 15.6%.

2:36

And checking out the top gainers, in

2:39

the top 100 at least, you can see AKT up 11%,

2:41

Injective up 6%, and

2:45

Suncoin up 5% as

2:47

the majority are, again, in the

2:49

red. And checking out the crypto bubbles to

2:51

get a visual perspective on the daily. As

2:53

you can see, safe to say 90% to

2:56

92% of

2:59

these alts correcting, handful in the

3:01

green. Zooming out on the monthly, we've

3:03

also had pretty substantial corrections, after

3:05

the alts have been running pretty well for

3:08

the past few months, up until more recently.

3:10

So past 30 days, a lot of bloodshed

3:12

out there in the markets, even on the

3:14

top projects. And checking out the crypto greed

3:16

and fear index, we're currently rated as 66

3:18

in greed. Yesterday

3:20

55, last week at 48, and last

3:22

month at 78. In

3:24

extreme greed. So

3:27

there you have it. So you can

3:29

see, it says here, Bitcoin flash crash

3:31

raises chance of Bitcoin to

3:33

dip to $54,000. And

3:38

let me smooth this out of my way real quick, something.

3:42

Yeah, I guess we could do that. Put

3:45

this down, one second. Right

3:47

there, okay, cool, cool. So you should be able to

3:49

see on your screen right now. Let

3:51

me know in the chat. Software

3:53

is acting a little buggy for some reason,

3:56

but you should be able to see. So yeah,

3:58

Bitcoin fell over 2000. in

4:00

an hour today as a

4:02

sudden wave of volatility disrupted

4:04

an otherwise quiet market. Data

4:07

from Cointelegraph showed that leveraged long traders

4:09

were caught offside as the Bitcoin price

4:11

suddenly dropped from a high of 63.5

4:15

on May 10th to an intraday low of 60,300 as

4:19

we can see here in the one

4:21

hour chart. And at this

4:23

time the losses are still mounting but it's only

4:26

a mere two and a half percent loss of

4:28

Sunday due. The final accumulation is

4:30

happening according to the crypto analyst Michal

4:32

Van De Poppe reacting to what has

4:34

become a familiar event in short time

4:36

frames for Bitcoin ever since the

4:39

infamous halving. Now we also explained that

4:41

this includes the low volatility in the

4:44

choppy price action Bitcoin displayed since February

4:46

29th and that the latest crash saw

4:48

Bitcoin drop back to the important area

4:50

of support. Not huddling

4:53

then we're looking at 52 to

4:55

55,000 which will be the final

4:57

stage of the correction. Meanwhile analyst

4:59

Dan Crypto Trades said the Bitcoin's

5:02

flash crash to 60G's on May

5:05

9th was a quick move to punish these

5:07

longs that ate them above 63G's as

5:09

he points out right

5:11

here alongside the chart. Now those betting

5:13

on a continuation of Bitcoin's recovery above

5:16

64,000 lost big today as the downturn

5:20

liquidated 127 million

5:22

in long positions worth amid a 24

5:25

hour total wipeout of 175 million.

5:27

As you can see here from coin

5:30

glass. So literally with the latest drawdown

5:32

9 million in Bitcoin leverage positions have

5:34

been liquidated over the last hour alone

5:36

from the time of this article with

5:39

6 million of those being longs.

5:42

So there you go. Now other

5:44

news a lot in the conversation

5:46

right now we know the Hong Kong

5:48

ETFs just went live. I believe it

5:51

was literally 11 Days ago on

5:53

the 30th of April. Now Big

5:55

talk that the mainland of China

5:57

may be able to start investing.

6:00

Into this each cast issuer out of

6:02

Hong Kong. that's a big deal could.

6:04

Hong Kong is a very small island

6:07

right on the outskirts of the mainland

6:09

mainland is where there's a population point

6:11

one and a half billion people. What

6:13

a lotta young some wealthy folk in

6:16

there are obviously so these are big.

6:18

If this happens on this would be

6:20

major and drive a lot exposure to

6:22

the test out there in Asia and

6:25

we also know game theory and full

6:27

of fact a many other countries follow

6:29

in suits. including. Ah,

6:31

Australia, which we've discussed and covered

6:33

here in the news. They're planning

6:35

to launch any chance at the

6:37

end of the month. We also

6:39

know about El Salvador launching a

6:41

bitcoin and Bitcoin out eats. he

6:43

asks and there's gonna be other

6:46

countries that follow suit. So strapping

6:48

you're in for a pretty amazing

6:50

ride ahead if you know what

6:52

I mean. Anyways, the latest with

6:54

Wells Fargo Stack and somebody is

6:56

as outlined here in this article.

6:58

Ah, the bank reportedly holding hundred

7:00

and forty three thousand. Worth of

7:02

shares of pro shares becuase ready

7:04

to ask braced I became interest

7:06

in Bitcoin Depot. Interesting. Ah,

7:08

check this out. Major Us based

7:11

financial services from Wells Fargo disclosed

7:13

investments in Bitcoins he taps offered

7:15

by Grace Go and procedures. Also

7:17

want to point out breaking news

7:19

just then America's largest bankers, the

7:22

Jp Morgan Chase with Ceo Jamie

7:24

them in a cage. Any demon.

7:26

And when I think a genie

7:28

dimon, one thing comes to mind.

7:37

But our way as you can

7:39

see the Fcc filing right here

7:41

so we call these people are

7:43

Chris Cars. Are

7:46

not let. Us.

7:53

not like mean so i just wanted a point

7:55

that out by this a pretty big deal means

7:57

all major banks of soon going to have exposure

7:59

to become They don't already have exposure

8:01

to Bitcoin, so please keep that

8:04

in mind. The total

8:06

value of the three Bitcoin-related investments is

8:08

pretty small, but hey, it's a start.

8:11

Wells Fargo has roughly 1.7 trillion

8:14

in assets as of June of last

8:16

year. So again, that's

8:18

a big market to tap into for

8:20

their customers, making it the third largest

8:22

bank in the US by holdings. Again,

8:25

number one is JP Morgan. The

8:27

SEC added that observers should not assume that

8:29

the info provided by financial firms is accurate

8:31

and complete. Well, thank you, SEC.

8:36

What kind of information do you actually provide

8:38

as far as clarity is concerned?

8:41

The SEC approved the listing of the trading of

8:43

the spot Bitcoin ETFs, as you know,

8:46

back in January. Trading

8:48

firm Sus Quahana reported

8:50

it purchased more than a billion. We covered that

8:52

in a few episodes ago of the

8:55

Bitcoin ETFs in the first quarter of 2024, largely

8:58

comprised of GBTC, Fidelity,

9:01

and the other pro shares of

9:03

Bitcoin strategy ETF. So that's pretty

9:06

lit. I mean, I think

9:08

virtually all major institutions,

9:12

asset managers, banks will

9:15

have access to Bitcoin, again, whether

9:17

directly or indirectly, as there's so

9:19

many ways to get exposure, because

9:22

if you don't got Bitcoin, they

9:25

not like us. So

9:30

here we go. SPF update. He's

9:32

now trading rice. Wow.

9:35

This guy. Whoa. FTX

9:38

co-founder, SBS still maintains his innocence

9:40

despite getting 25 years in jail

9:42

for fraud. And while he plans

9:44

his appeal, he's taking to commodities

9:46

trading, namely bags of rice. In

9:48

his first in-person chat with the

9:51

media since being locked up in

9:53

Brooklyn's MDC back In

9:55

August of last year, Bankman Fried spoke

9:57

to Puck News, William Cohan. Or

10:00

co hand in an interview published

10:02

May ninth Switch Back Been Freed

10:05

Mother Barbara Freeze was involved in

10:07

organizing the X F T axioms

10:09

day. It sees him get V

10:11

and meals that fellow inmates think

10:13

literally smell like this. Oh my

10:16

god the as though he lives

10:18

on beans and rice. Whoa.

10:21

The latter has become one of

10:23

the currency's of the realm inside

10:25

and the see wow. So he's

10:27

eating beans and rice. Maybe is

10:29

not eating much of the rise

10:31

so he can proceed it as

10:33

a currency as Macbeth while be

10:35

alum of trading. How's the genes

10:37

Three Capital On cofounder of training

10:39

from Alameda reportedly joked about how

10:41

much better the arbitrage opportunities are

10:43

in jail compared to his former

10:45

wife. has a high frequencies are

10:47

hidden. Omega statement read was considerably

10:49

center and. Losing twenty five pounds.

10:52

good for him and was less

10:54

fuzzy. No longer fuzzy bank men

10:56

last manic, less visiting and with

10:59

no bags under his eyes. Wow,

11:01

looks like a total Three sources

11:03

say a eighty. He looked Kohan

11:06

in the eyes and said pretty

11:08

much the whole time during the

11:10

interview, something he rarely did before,

11:13

but that jailed the founder admitted

11:15

he'd become good at taking that

11:18

he was doing. While so. He.

11:20

Saw this infamous leaked or photo

11:22

in which you can see his

11:24

inmates are one, two three, four,

11:27

five six including a bank been

11:29

freed. One of them you can

11:31

see identified. they're and yeah, definitely

11:33

lost the water weight and in

11:35

this picture was back in February.

11:37

Obviously we're now in May but

11:39

anyways I yeah he went from

11:41

one of the wealthiest young men

11:43

in the world to now serving

11:45

twenty five years in prison as

11:47

he has thirty five other male

11:50

inmates have reportedly murderers. Whoa! And

11:52

those who are cooperating with the

11:54

government in a large open dorm

11:56

style room as weird in part

11:58

of the and d mostly for

12:00

female inmates way way way way

12:02

way way so he is in

12:04

a facility. Which.

12:07

Is usually for female inmates. Mostly.

12:11

And they're in a large open dorm

12:13

room. I hope is that having

12:15

orgies. In this. Facility.

12:18

Think real thought That's what he

12:21

was known for doing in the

12:23

Bahamas and the Manson for Caroline

12:25

allegedly of interesting. he reportedly extremely

12:27

bored with only forty these. Wow.

12:30

He has access to Tv. Food.

12:33

And non internet connected tablets entertainment

12:35

which he plays games on so

12:37

he has a tablet that's interesting

12:39

as well connected to the internet.

12:42

Viewed. As sounds like Jv in

12:44

his office like wow that's pretty amazing

12:47

Arms Facility is yes me is that

12:49

he's not worried about his save the

12:51

spare doesn't sleep well as other inmates

12:53

wake him to ask about have bad

12:56

the rise as they want to use

12:58

them for barking. Mad

13:00

and trying to sleep. yeah we got weaker

13:02

Sam I need a bag of rice. sorry

13:04

I don't have any more racy. Can't make

13:06

the rice cakes bro or let me get

13:09

some sleep or but anyway so let's keep

13:11

it moving a second. A lot to share

13:13

with you guys. Ah, next story. Over the

13:15

day or now they get the Spf up

13:17

the we ball needed in our lives. Let's

13:20

discuss ah crypto analyst says bullish

13:23

Geico mad over predicting of hundred

13:25

thousand dollar bitcoin in the fourth

13:27

quarter A talking about he teased.

13:30

looks like any to have overseen on

13:32

on the screen for watching the stream

13:34

of anyways er yeah why the followed

13:37

traders as bitcoin can skyrocket to a

13:39

six figure faith in the fourth quarter

13:41

of this year we have analysts alt

13:43

coin surpass he shared with his followers

13:45

that bitcoin is bull cycle has yet

13:48

to finish quitting i'm here i sit

13:50

on think that it would be over

13:52

though and that it is for this

13:54

psycho i think that we're still gonna

13:56

see bitcoin to six figures as some

13:59

sort of mania And according to

14:01

the analyst, Bitcoin could gigasend to a price

14:03

of $100,000 in the fourth quarter

14:06

of this year. That's dope. I never heard

14:08

the term gigasend. I'm going to start using

14:10

that. Gigasend. Let's

14:12

go. Sherpa says there are a few

14:15

compelling bear cases for Bitcoin. That can

14:17

see it fall by up to 35%

14:19

from its current price before it shoots

14:21

up to six figures. Quoting

14:24

them here, is it over? I don't think

14:26

so. But I think that this type of

14:28

price action leads to the larger downtrends

14:30

and pullbacks. Even if Bitcoin

14:32

goes to $40,000 or $50,000, it is still high time frame

14:34

bullish. But

14:38

if we saw a move to $50,000, this

14:40

would result in probably a violent move that

14:42

would wreck the market. For example,

14:45

a move from $60,000 to $50,000,

14:47

which would be strong. And alps take a

14:49

50% haircut or more from

14:51

these current levels. We're not there yet,

14:53

but might need a further washout. I

14:55

would envision a scenario where Bitcoin goes

14:57

to $40,000, $50,000, everything gets wiped

15:00

out. We chop for three to

15:02

four months around there and then gigasend to

15:05

$100,000 in the fourth quarter

15:07

of 2024. This

15:11

year, fam, as outlined here in the

15:13

chat, let's go. I'm ready. You ready

15:15

for the six figure? Bitcoin,

15:17

Fiesta, live in Puerto

15:19

Rico? If so, let

15:22

me know and let's freaking go. All

15:24

right, so here we are. Next story

15:26

of the day, we discussed the 100K

15:29

target. Now we're going to discuss the

15:31

150G target as well as a half,

15:34

excuse me, million dollar target. And

15:36

then we'll discuss Jack Dorsey's $1

15:38

million target. Thomas

15:41

Lee, the CEO of FundStrap,

15:43

the independent financial research boutique,

15:45

maintain his bullish stance on

15:48

the king crypto. The financial

15:50

analyst predicted that Bitcoin can

15:52

surge massively, doubling its current

15:54

price to reach 150G's during

15:57

this current crypto market this year and

15:59

this summer. cycle. So let's break

16:01

it down. He was recently interviewed

16:03

on Squawk Box and doubled down

16:05

on his previous Bitcoin forecast, expressing

16:08

strong confidence that Bitcoin would experience

16:10

a dramatic surge before the end

16:12

of the year. He predicts that

16:14

Bitcoin currently priced at, well

16:16

at this time now, 60 g's

16:18

baby, will exceed previous all-time high

16:20

and will reach 150,000

16:23

per coin. I want to know if you

16:26

guys in the chat agree with this particular

16:28

prediction of 150 g's this year in 2024.

16:31

He also disclosed earlier in April

16:33

in an interview that Bitcoin would

16:35

definitely make new all-time highs this

16:37

year, predicting Bitcoin to 150,000 as

16:39

well as

16:41

predicting 500,000 for the long term.

16:43

He highlighted that the strong demand

16:46

for the bitties has been fueling

16:48

the price increase and furthermore the

16:50

integration of the Roon protocol, which

16:52

we know is the new token

16:54

standard for issuing tangible tokens such

16:57

as NFTs on the Bitcoin network

16:59

and also bolstered the blockchain network.

17:01

And I know the miners are

17:03

enjoying it though. These ambitious forecasts

17:05

of Bitcoin comes at a time

17:07

when the market has been experiencing

17:10

significant volatility and periods of fluctuations.

17:12

Bitcoin previously hit the

17:14

all-time high, which is currently sitting at 73,800. That was mid March. So

17:20

that's where price discovery currently

17:22

lives and I think we'll revisit it here

17:25

soon. Let me know your thoughts. Now, you

17:27

know since the halving occurred, it was just

17:29

two weeks ago, many analysts believe it would

17:31

trigger another price rally. I want to know

17:33

your thoughts. If you're in that camp, do

17:36

you see new all-time highs that come in

17:38

or do you think it will consolidate for

17:40

a little longer before running up? Let me

17:42

know your thoughts, family. Now for our feature

17:44

story of the day, Jack Dorsey, the former

17:47

Twitter CEO, is predicting Bitcoin's mashing $230,000 by

17:49

the year 2030. Let's break it down and

17:51

shout out to Jack. The Twitter co-founder

17:57

says the price of the biddies could reach the

17:59

price of the biddies. of at least a million

18:01

dollars by the year 2030, adding that its value

18:03

could grow even further from that point onward. Speaking

18:06

at a recent interview with Mike Solana

18:08

on Pirate Wires, Dorsey offered a bullish

18:11

outlook for the long-term price action of

18:13

Bitcoin, as well as providing further context

18:15

behind his abrupt departure from the board

18:18

of Blue Sky, which is a decentralized

18:20

Twitter alternative he helped launch in 2019.

18:22

Interesting, I've never even heard of Blue

18:25

Sky. What about you guys in the

18:27

chat? Let me know. Dorsey told Solana,

18:29

I'm like, what? He's just, I

18:33

know he's a maxi, why is

18:36

he selling Solana? My correction, he

18:38

told Solana, the interviewer, he believes

18:40

Bitcoin's price could reach at least

18:42

a million by 2030, adding that

18:44

it most likely hits that number

18:46

and goes way beyond. Dorsey, now

18:48

the head of financial services firm

18:50

Block, noted Bitcoin's price isn't actually

18:52

the most interesting aspect of Bitcoin,

18:54

and instead pointed to the collaborative

18:56

nature of the ecosystem and the

18:59

way it incentivized collective efforts to

19:01

enhance the network, quitting them here.

19:03

The most amazing thing about Bitcoin, apart

19:05

from the founding story, is anyone who

19:07

works on it or gets paid in

19:10

it or buys it for themselves, everyone

19:12

who puts any effort in to make

19:14

it better is making the entire ecosystem

19:16

better, which makes the price go up.

19:19

It's a fascinating ecosystem and movement more

19:21

than anything else, he said, before adding,

19:23

it taught me a lot. Dorsey raised

19:25

eyebrows March 6th, I'm sorry, May 6th,

19:28

when it was confirmed he would be

19:30

departing the board of Blue Sky, a

19:32

decentralized social network, which he helped start

19:35

as an alternative to Twitter. He said

19:37

that Blue Sky was literally repeating all

19:39

the mistakes made, adding that it is

19:42

not a protocol that could be deemed

19:44

truly decentralized. It's just another app. Dorsey

19:46

Originally envisioned Blue Sky as an open

19:48

source protocol that Twitter and other platforms

19:51

could build on top of, separating the

19:53

protocol layer from the application layer to

19:55

reduce the censorship risk.. However, he said.

19:58

the firm started behaving more. Like

20:00

a traditional company that began pushing

20:02

for moderation tools, quitting of hear

20:04

everything we wanted around decentralization, everything

20:06

we wanted in terms of an

20:08

open source protocol suddenly became a

20:11

company would be seized and aboard.

20:13

That's not what I wanted best

20:15

that what I intended to help

20:17

create says right, Because when it

20:19

comes to the suits, they lot

20:21

like us. They

20:24

not like us means door Seem

20:26

who has since deleted his Blue

20:28

Sky accounts said the platform. Master

20:30

is anonymous. Or. How many

20:32

of you are using a Master let me

20:35

know Family can find companies lights on it,

20:37

just that's why it's an open protocol. Would

20:39

know company or centralized control or line with

20:41

more of his goals of censorship resistance. A

20:44

note to shareholders may Second Doors He said

20:46

his than tech phone block or foot ten

20:48

percent of it's gross profits and and related

20:50

products. Into buying more

20:53

Bitcoin every month. On May

20:55

first, that was reported, the

20:57

Us. Federal prosecutors were probing

20:59

Block after documents allege compliance

21:01

violations at the firm's payments

21:03

division Square and. Assets.

21:06

So there you have it, my

21:08

crypto fam Let me know your

21:10

thoughts on Jack Dorsey and as

21:12

predicts and of Bitcoin mass in

21:14

one million dollars. By. Twenty Thirty

21:16

We know Kathy would has been

21:19

calling for a million dollars and

21:21

at the top of the decade

21:23

for long time and sexy recently

21:25

up her both scenario to three

21:27

point eight million which we have

21:29

covered here in the show by

21:31

Twenty Thirty. Stats are both scenario

21:33

is the major institutions do a

21:35

five percent allocations into the king

21:38

crypto Btc. I see that can

21:40

happen the question by when gonna

21:42

happen sooner than that. i

21:44

think it's in the cards i believe

21:46

bitcoin has top as the has no

21:49

bottoms and mean a lot of polish

21:51

catalyst in the markets even though were

21:53

cracking it's all good this is normal

21:55

i've been telling you guys everyday virtually

21:58

be prepared for extreme volatility chop

22:00

to the upside, to the

22:02

downside, every having, pre-having, post-having,

22:05

extreme volatility, that's what

22:07

we're witnessing. But thus far, 60 is

22:09

holding strong. I think 60 is

22:11

the psychological support right now. 58

22:14

is the line in the sand. As long as we can

22:16

maintain above 58,000, we should be good, right? And

22:21

I think we bounce right back, and thus

22:23

we've been holding 60,000. The

22:25

times we've dropped below 60, it's like

22:28

very short-lived, and it bounces like immediately

22:30

back like when we hit in the 59 level. So

22:33

that seems to be the strong spring resistance

22:35

in the market right now. Once

22:38

Bitcoin 2X is from here, 120Gs. So

22:42

for that, I got to sample this clip

22:44

twice. 60G 70! Ha

22:47

ha! 60, 12,

22:50

60. 60G 70! Ha

22:53

ha! That

22:55

gives us 120. Then what if

22:57

we did it again? Another 60. Then

23:00

you're at 180. And

23:02

before you know it, 4X. You're

23:05

at 240. Before you know it, quarter

23:07

million Bitcoin doubles into a half

23:10

a million Bitti. Before you

23:12

know it, a half a million Bitti doubles

23:14

into a million dollars per

23:17

Bittski. And yes, a Bitti

23:19

and a Bittski is the same. We just

23:21

have different slang out here. Thank

23:24

you, Melda. I think I just learned that term

23:26

today too, a Bittski. So

23:28

appreciate it. But anyways, let me know your

23:31

thoughts on Bitcoin smashing a million. When can

23:33

you see that happen? And even let me

23:35

know when you can see six figures. Hala.

23:38

And don't forget to check out cryptanewsalerts.net

23:40

for the full premium experience with video

23:42

and to participate in our live Q&A.

23:44

And I look forward to seeing you on

23:46

tomorrow's episode. Haddle. Hallelujah.

23:55

Hallelujah.