BITCOIN AND CRYPTO MARKET DOWN. DON'T PANIC. WATCH THIS & REMEMBER.
Summary
TLDRIn this pre-recorded digital asset news update, the host discusses recent political developments, including President Biden's attendance at a Bitcoin Round Table and Donald Trump's support for crypto, emphasizing the potential of Bitcoin mining in the US. Despite market fluctuations and external uncertainties, the host highlights historical patterns suggesting a bullish trend in 2025. He advises viewers on accumulation strategies and the importance of taking profits, referencing past market recoveries post-COVID-19 as a reminder of crypto's resilience.
Takeaways
- 🏠 The speaker is currently in Puerto Rico, dealing with house renovations and unstable Wi-Fi, which is why the usual live stream is pre-recorded.
- 📧 There was a leak about President Biden's administration attending a Bitcoin and crypto Round Table in DC in July, focusing on Bitcoin mining.
- 🤝 Former President Donald Trump supports crypto and has met with Bitcoin miners, suggesting that all future Bitcoin should be mined in the U.S.
- 🤔 The speaker is skeptical about politicians fulfilling promises but acknowledges the meeting as a positive step.
- 💼 The Bitcoin mining coalition includes representatives from major companies like Riot, Marathon, Tera Wolf, and Clean Spark.
- 📊 The speaker discusses the current market situation, with a market cap of 2.5 trillion and a downward trend in prices, attributing it to more sellers than buyers.
- 📉 Bitcoin's price has dropped significantly in the last 24 hours, and the speaker notes that the long-term trend over a year still shows growth.
- 🔄 The speaker believes in the four-year cycles of Bitcoin's price, suggesting that we might see an all-time high in 2025 after a dip and reset in 2022.
- 📈 Historical data is cited to show that after reaching an all-time high, the market often experiences a period of sideways movement before a significant bullish trend.
- 📊 The speaker emphasizes the importance of taking profits, especially during bearish trends, using personal examples from past dates.
- 👍 The video concludes with a reminder to consider the speaker's advice, watch related videos for more insights, and the importance of making informed decisions in the market.
Q & A
Why is the speaker pre-recording the video instead of doing a live stream?
-The speaker is pre-recording the video because they have been moving around a lot in Puerto Rico due to house renovations and staying in Airbnbs with unstable Wi-Fi.
What significant event is mentioned regarding President Joe Biden and cryptocurrency?
-There was a leak of emails indicating that President Joe Biden's administration will be attending a Bitcoin and crypto Round Table in DC in July, focusing on Bitcoin mining.
What did Donald Trump reportedly say in a closed-door meeting with Bitcoin miners?
-Donald Trump reportedly said that Bitcoin can help win the AI arms race and that all future Bitcoin should be mined in the United States.
Which Bitcoin mining companies were represented in the meeting with Donald Trump?
-Representatives from Riot, Marathon, Tera Wolf, Clean Spark, and several other Bitcoin miners were included in the meeting.
What political figure is the speaker suggesting viewers support with a link in the description?
-The speaker is suggesting viewers support John Deon, who is running a campaign against Elizabeth Warren in Massachusetts.
What is the current market cap of the cryptocurrency market according to the speaker?
-The current market cap of the cryptocurrency market is around 2.5 trillion.
What are some of the geopolitical concerns mentioned that might be affecting the cryptocurrency market?
-The speaker mentions potential wars and the presence of the Russian Navy's nuclear submarines near Cuba as geopolitical concerns affecting the market.
What is the speaker's view on the current state of the cryptocurrency market?
-The speaker views the current state as a 'red day' and a good opportunity for accumulation, but acknowledges that it might be stressful for some.
What historical pattern does the speaker refer to when discussing the cryptocurrency market cycles?
-The speaker refers to a four-year cycle pattern in the cryptocurrency market, with all-time highs followed by dips and resets.
What advice does the speaker give regarding taking profits in the cryptocurrency market?
-The speaker advises to take profits during the bearish trend and sentiment, emphasizing the importance of not expecting the market to go up in a straight line.
What is the speaker's prediction for the cryptocurrency market in 2025?
-The speaker predicts that there will be monster bullish moves in 2025, but also acknowledges that they could be wrong.
Outlines
🏠 Pre-recorded Digital Asset News Amidst Renovations
The speaker begins by addressing the audience and explaining the switch to pre-recorded content due to moving and renovation work in Puerto Rico, which has affected the quality of live streams. They mention the Wi-Fi issues at temporary accommodations and announce the continuation of pre-recorded videos. The speaker then discusses recent significant news involving President Joe Biden's administration attending a Bitcoin and crypto Round Table in July, focusing on Bitcoin mining. They highlight Donald Trump's support for crypto, his meeting with Bitcoin miners, and his statements on Bitcoin's role in the AI arms race and the future of mining in the U.S. The speaker also touches on the involvement of major Bitcoin mining companies and the political nature of promises made by politicians.
📉 Market Analysis Amidst Political and Economic Uncertainty
This paragraph delves into the current state of the cryptocurrency market, acknowledging a downturn with a market cap of 2.5 trillion. The speaker reflects on the market's volatility, referencing geopolitical tensions and macroeconomic factors in the U.S., including potential rate hikes. They discuss the psychological aspect of investing, where fear can lead to irrational selling. The speaker provides a historical perspective on Bitcoin's performance, noting the cyclical patterns and the current position within the cycle. They predict a bullish trend in the future, possibly in 2025, based on past cycles and market behavior. The speaker also mentions the importance of taking profits during market fluctuations and references previous advice on accumulation and profit-taking strategies.
📊 Analyzing Market Trends and Encouraging Profit-Taking
The final paragraph focuses on the importance of understanding market trends and making informed decisions. The speaker uses historical data to illustrate the market's behavior post-all-time highs and the subsequent periods of consolidation before significant movements. They compare the current market situation to past cycles, emphasizing the similarities and the potential for a bullish trend. The speaker also discusses the impact of external factors such as the COVID-19 pandemic on the market and how it recovered despite initial pessimism. They conclude by reiterating the importance of taking profits, referencing their own actions as examples, and encouraging viewers to consider their strategies carefully.
Mindmap
Keywords
💡Pre-recorded
💡Bitcoin mining
💡Round Table
💡Donald Trump
💡Coalition
💡Accumulation
💡Market Cap
💡Macro Economy
💡All-time High
💡Four-year Cycles
💡Profits
Highlights
Pre-recorded digital asset news due to the host's house renovation and unstable Wi-Fi.
President Joe Biden's administration is attending a Bitcoin and crypto Round Table in DC in July, focusing on Bitcoin mining.
Donald Trump's support for crypto and his closed-door meeting with Bitcoin miners, emphasizing mining in the U.S.
Involvement of major Bitcoin mining companies like Riot, Marathon, Tera Wolf, and Clean Spark in the Round Table.
Political stance on crypto with a call to support John Deon's campaign against Elizabeth Warren in Massachusetts.
Market downturn described as a 'red day' with a market cap of 2.5 trillion and potential for further decline.
Geopolitical tensions and macroeconomic factors affecting market sentiment, including the Russian Navy's presence near Cuba.
Divergent monetary policy actions by the U.S., Canada, and the EU, impacting investor confidence.
Bitcoin's price drop and the psychological impact on investors, leading to selling or taking profits.
Historical price analysis of Bitcoin showing a pattern of highs and lows over different cycles.
Prediction of a potential all-time high for Bitcoin in 2025 based on historical cycles.
Comparison of current market conditions with the post-halving period in 2020, noting similarities in price action.
Emphasis on the importance of taking profits during market fluctuations to secure gains.
Use of data points and indicators to make informed decisions about accumulating or selling assets.
The impact of the COVID-19 pandemic on markets and the subsequent recovery due to stimulus measures.
Reiteration of the cyclical nature of markets and the importance of understanding these cycles for investment strategy.
Encouragement for viewers to make their own decisions based on market analysis and personal risk tolerance.
Transcripts
hello everybody Welcome to the
pre-recorded version of what is usually
a live stream here in digital asset news
but unfortunately I've been moving
around a lot here in Puerto Rico we're
renovating the house so we're standing a
couple airb airbnbs and uh the Wi-Fi
isn't the greatest so we're going to to
do some pre-recorded ones moving forward
so if you missed it yesterday and I
don't blame me if you did because it was
a pretty choppy uh rendition of our
usual live stream first of all there was
some big news over the weekend and one
of those is President Joe Biden and his
administration looks like there was some
leak emails and they'll be attending a
Bitcoin and crypto Round Table in DC in
July mostly what it's concerning about
is Bitcoin mining and why did this
happen more importantly probably because
Donald Trump came out and said he
supports crypto and he actually met with
the Bitcoin Miners and here's what
happened in this closed door event
basically he says this two things one
Bitcoin can help win the AI arms race
and he also said that all future Bitcoin
to be mined or minted in the United
States and he is very adamant on that so
let's see if he comes through
everybody's a politician or these guys
are politicians so you know what
politicians do sometimes they don't
fulfill their promises but hey it's a
step in the right direction the
Coalition included representatives from
Riot Marathon uh Tera Wolf clean spark
and a host of others of Bitcoin miners
so that to me is pretty good and like uh
the old ad just talks about uh for
Bitcoin first they for actually
everything first they ignore you then
they laugh at you then they fight you
then of course you win I think we're in
that stage where were actually Crossing
the Rubicon so that we take a look at
that and of course people will say well
what about Robert Kenny Jr what about
President Biden what he did what about
Donald Trump and what he did and all the
other issues look I don't I don't care
who you vote for I just don't but I
would say that if you're a fan of
Elizabeth Warren which I think most of
us aren't uh maybe you could help us out
or help out John Deon by contributing to
his campaign and there's a link in the
description to talk about of how and why
he can win in Massachusetts and of
course some of his stances so if you
don't feel like oh I can't give to him
because he's not a vegan or whatever is
your big thing there's a bunch of
different things you can find out about
John Deon and why I think he can win and
is a uh Superior substitute for Center
Elizabeth Warren so off to today today
is a red day and I can't sugarcoat it it
just is what it is to me I always look
at these I'm like well great because I
never feel like I have accumulated
enough quite honestly when I look at
these markets I'm like you know I
probably could have done a little bit
more of uh dollar cost averaging or
lumps suming and today's no different
however for some of you I understand
this is kind of stressful and this is
why I put this video together so today
looking at a market cap of 2.5 trillion
we've been kind of bouncing around this
uh 60 actually it's been higher it's
been 66 67 69 somewhere around there now
we're going to the 65s potentially going
lower and of course there's a lot of
different things that are skittish
talking about different Wars potentially
World War III who knows I'm in Puerto
Rico right now the Uh Russian Navy has a
couple of nuclear submarines just parked
around Cuba who knows what'll happen and
then of course uh the different
headwinds that are coming on with the
macro economy here in the United States
and drum how coming out and saying that
he's not going to raise rates even
though in Canada and the EU they've done
that but here it's you know if we look
at the data it's looking pretty good but
who knows about the data who trusts it
alls I know is that prices are going
down because there's more uh sellers
than buyers and investors are is that's
really what it comes down to people are
afraid and when they get afraid they do
irrational things like selling Bitcoin
or taking profits which is fine so if we
actually zoom in on bitcoin and take a
look at it in 24 hours we've taken quite
a tumble look we were at almost 67,000
now we're wow 655 but if you look over
seven days is it any better no how about
a month no three months now we're
talking one year all right this is
looking good remember in one year we
went from 26,000 all way up to 73,000 so
I know people are saying well this just
it should keep going up nothing goes in
a straight line and we actually talked
about this and actually put this
together it was called all-time high to
next having and of course if you've been
listening to my show you know that I
believe in the fouryear Cycles they're
still intact and it always goes like
this there's a having alltime high dip
reset there's a having this would
happened in 2016 alltime high in 2017
there's a big monstrous dip in 2018 2019
we had a reset then we get a having in
2020 alltime mind 2021 202 is a dip and
a reset which we went through now 2024
we're in the having I think we're going
to see an all-time high I don't think
it's going to be this year again I I
think we're going to see like monster
bullish moves in 2025 but I could be
wrong but I said back then I go look if
you take the the top from two previous
Cycles to go from 2013 to the next
having it was a 42% drop if you do that
from the 2017 to 2020 it was a 56% drop
but I said it was odd because from the
last top in 2021 to February 18th which
was at that point 2 months prior it was
only 23% drop and then I said and then
when we got to six weeks I'm like that's
an 8% drop this is the only time that we
have hit an all-time high before the
actual having and we hit we hit it uh
sometime around in uh uh end of March
early April correct me in the comment
section but we went to 73,000 where
previously was 677 so things are a
little bit different however there's
things we have to consider and the one
big thing that I take a look at is let's
take a look at history remember in May
12th 2020 somewhere around there was the
having remember the having was at
$8,700 and then just two months later in
July it was 9200 so it wasn't much of a
big push it was just kind of up and
downs and up and downs and trust me when
he went from 97
$9,800 all the way down to 87 you get a
little bit skittish just like what's
going on right now now and I think it's
the same thing cuz here we are in 2024
remember we had it in around April 20th
we were at the price was
61 62 63 somewhere around there then
today we're at 66 so to me it's just
there are some things that are a little
bit uh uh similar even though there's
been some changes and if I if you really
want to drive it home to my point take a
look at this this is from Ben's website
Great Links in the description if you
take a look at the return on investment
after the having I'm just going to use
the last cycle or the one from uh
2020 and the uh again the having was
around May 11th May 12th and you can see
from here just how kind of sideways
action it was until couple three four
months later and then we start to see a
a big rush then we have a drop down then
off it goes and then we go up here again
alltime Highs but if you overlay that of
where we're at now this is having cycle
4 this is laughable this is laughable
and look at it it almost mirrored what
happened before there was a big up and
then a big down then off then we go
sideways so to me it's like it's the
same thing just happening again and then
I will remind you because people will
say but Rob you don't understand because
the rates and Jerome Powell and the
different world wars and things that are
going on you just don't it's totally
different and it's just we don't see
alltime high is coming oh really might I
remind you
not too long ago there was a thing
called the Corona virus no matter what
you believe it to be true or not it
still affect the markets greatly uh all
across the world and we didn't think we
were going to get out of that when that
happened you went from $99,000 to under
5,000 in a matter of like a week and
then of course there were some
positivities because we started
quantitative easing rates started to
drop then all of a sudden we had uh
stimy checks and the market started to
really rebound so I know people say well
there's this and this and this it's
negative and in the bare when like when
it gets more bearish sentiment it seems
like it'll never go bullish and then
when it gets bullish it seems like it'll
never go bearish it's the same thing
happening over and over again I just
remind you of these days that we had
because it's going to happen again and
it's happening again so what I will
recommend you know what do you do you
what I do is I just take a look at some
data points Ben's got this really great
Point here on end of the cryptoverse
where he takes a look at the risk bands
and I'm not going to go over it but what
I'll say is this there's a link in the
description there's two videos I talk
about I take a look at certain
indicators of where things to go right
now on my personal opinion this is a
great time to accumulate that's for me
you can do whatever you want to do I
can't give a financial advice but you
take a look at those indicators about
where things are going and kind of go
from there there's two videos one on the
top is when I sell like the blue chips
the one on the bottom is when I sell
like the more djeny stuff and it's
pretty aggressive so watch both of those
videos but then
also the last thing is this we're in a
bearish Trend a bearish sentiment but on
the rules you know the rules the rules
are right beside me and the very last
rule is take profits and I want to
remind you of how important that is
moving forward till we get to the
blowoff top things right now seem like
it'll never get bullish when you're in
the bare Market seem like it it'll never
get it'll never reverse and the same
thing's going to happen in the bull
market it'll seem like it'll never get
bearish but on I on May 23rd I said look
I said took some profits a couple days
ago sorry that's when Bitcoins were
between it was around 71 72,000 and I
took some profits on some altcoins and
uh you know that's just what it was and
then I got a lot of Guff for it because
people thought I was a because
you're a because you took some
profits and it'll never go down all
right well anyhow and I said the same
thing on March 31st which again Bitcoin
is around 7172 and the altcoins were up
pretty heavy now where they at they're
down do I get it right all the time no
but when I say take profits that's for
me you can do whatever you want to do
I'm not your dad but uh I'm just trying
to help people out here to understand
the markets that doesn't go up in a
straight line I want you to be
successful I want you to do the right
thing that's it for today so look like
today's video give it a thumbs up
consider subscribing everything we talk
about is time sensitive but that's it
for that piece I appreciate you and I'll
see you on the next one
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