
Billionaire BitMEX founder Arthur Hayes says Bitcoin has the potential to blow way past $100,000 on the back of worldwide money printing sending the king crypto (BTC) to reach $1,000,000.
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JV
Okay, I have to tell you, I was just looking on ebay where I go for all kinds of things I love. And there it was, that hologram trading card. One of the rarest. The last one I needed for my set.
Ryan Reynolds
Shiny like the designer handbag of my dreams. One of a kind. Ebay had it. And now everyone's asking, ooh, where'd you.
JV
Get your windshield wipers? Ebay has all the parts that fit my car. No more annoying, just beautiful. Whatever you love, find it on eBay. EBay. Things people love.
Ryan Reynolds
Ryan Reynolds here for I guess my hundredth mint commercial. No, no, no, no, no, no, don't. No, no, no. I mean, honestly, when I started this, I thought I'd only have to do like four of these. I mean it's unlimited to Premium Wireless for $15 a month. How are there still people paying two or three times that much? I'm sorry, I shouldn't be victim blaming. Here, give it a try@mintmobile.com save whenever you're ready.
JV
$45 upfront payment equivalent to $15 per month.
Paul Atkins
New custom only taxes and fees, extra.
Tom Lee
Speed slower above 40 gigabytes.
JV
C details. Welcome crypto fam to the number one daily Bitcoin pod. We pumping back in the green. Two and a half percent away from 100k. Send it. In today's show I'll be breaking down the latest bitcoin technical analysis as well as the latest from plan B, creator of the bitcoin stock the flow model as well as his latest predictions. Also breaking news, Trump announces pro crypto Paul Atkins the lead the SEC chair. Goodbye Gary Gendler. Now go home. Get your shine box also quoting Max Kaiser. Dominance will be determined by who has bitcoin dominance not the oil. He who has bitcoin makes the rules. Trump is still learning about the bitty. We'll also be discussing breaking news. El Salvador's Digital assets issuer raises 30 million via US treasury offering as well as martial law causes bitcoin to crash to 65 GS and South Korea. We'll be discussing why as well as is the US Government really poised to add bitcoin to its national reserve. I'll be breaking this down for you. We'll also be discussing bitcoin supply shortage can trigger big bitcoin chase according to fund strats Tom Lee. I'll be breaking down his bullish multiple six figure targets. And we'll also be discussing when the government money printing will finally push the bitcoin price to a million dollars per coin according to Arthur Hayes Just Blaze, founder of the Bitmax Exchange. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonews alerts.net Again, that's crypto news alerts.net and just like that, the entire market is back in the green. Today is Pod episode 1838. I'm your host JV and today may be the day. We're just above 98,000 at the time of the live stream. We're up over 2500 on the day, less than 2% away from 100k. And look how fast we're climbing. And the crowd is going wild. We got a new SEC chairman in the building. Trump made the announcement. It's official we'll be covering all this. A lot to share in the show today, but Anyways, today is December 4th, 2024. I'm your host JV. Another spectacular day in the market. Checking out the crypto or coin360. You can see everything back in the green. Ether made a big step up up 8% on the day. Bitcoin up 2 and a half percent, climbed back above 98 GS. BNB is up 7%. Tron up 12%. Virtually everything pomp minus HBAR, XRP and Cardano. And checking out coinmarketcap.com. holy moly. The highest we've ever seen it all time. High price discovery 3.57 trillion. Crypto Market cap. Let's go. The bitcoin market cap about to hit 2 trillion for the first time in history. It's currently $1.94 trillion. And as far as volume is concerned. Let's check this out. We got 269 billion in volume for the past 24 hours. Bitcoin dominance still on the decline. Ironic enough, 53.9%. And check it out. Top 100 crypto gainers past 24 hours. We have the sandbox lead in the pack up 37% on the day. We got curve down up 32% and mantle up 25%. Which alts, if any, are you bullish on? For the bull, I'll let you, boy fam. And checking out the crypto bubbles, we get a visual perspective on the daily. Virtually the entire market doing a fantastic job and zooming out on the monthly. I mean, HBAR up 600%. XLM 450%. I know XRP is close to 400. Algo 359, CRV 400. Pretty much all the alts are up hundreds of percent virtually. It's pretty wild. And checking out the crypto green interior index today we're 78. Extreme greed yesterday at 76. Last week at 75 and last month was 70 in greed. And checking out the time chain calendar we have 176, 752 blocks to go into the next having April of 2028. We're currently on block number 872 248. Yes, you got caffeinated JV today. If you couldn't tell, now you know. And you can currently exchange US$1 for 1043 stats. Stack those stats. Yeah, let's go. Here's the latest technical analysis AKA astrology for the Broskis. And we're pumping so fast. I'll pull up the live charts here shortly. Bottom I think is in. What are your thoughts? Bitcoin bounced from the weekly lows Dec. 4 as analysts demanded a reclaim of the weekly open. Here you're looking at the one hour chart and here shortly I'll be pulling up the live charts. That's. That's how we roll the. The Kimchi premium will be discussing that in greater detail. For those that don't know, I covered it in the pod. South Korea declared martial law and they have some big crypto exchanges over there, including Bit Hump, I think Bit Thumb and a few of the others. And the bitcoin price literally crashed temporarily, which is ironic. Is that like an inside job? I don't know. We'll dive deeper into that later. But here's what Scoo wrote. Lowe's got rated into the New York open before the reversal. Ideally want to see the price above 95. Well, here's the good news. We're currently above 985 and roughly 1% away.
Ryan Reynolds
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JV
It don't get more lit than that now. REC Capital shared Bitcoin continues to retest the series of lower highs as support producing longer, longer Downside Wicks, as long as this continues, Bitcoin should be able to reclaim the 96.4support. Well, guess what again, we're above 985. Virtually 1% away from price discovery. So let's see what else is here. Bitcoin Retail come back in the numbers. Retail must prevail. You know the difference between this cycle and the previous previous cycle peak was purely driven from the retail prevail. This time purely driven from the institutional FOMO and now the nation state fomo. I don't even think the retail have moved yet. I think Once we surpass 100 GS they'll start coming late to the party. But what are your thoughts? Let's just get right to the charts, shall we Brosis? We ain't got any time to waste today. Here's the live chart. Action Jackson. Bitcoin making big moves. Currently above 986. We're pumping so fast you can't even keep up on the screen. This is wild. Gentlemen, let's zoom out. This is the one minute. Let's go to the one hour. Get a broader perspective. You can clearly see we're pumping like a mofo. Big hourly green candles, four consecutive. We do have a bull target again. This is live right now during the live stream. 107 sitting on the Coinbase exchange on the one hour chart. That's our target in play right now which is virtually what greg just called 108,000. Next likely target. Happy 420 in advanced broskis and zooming out to the four hour very bullish formation as well. You can see the past eight hours have been bullish. We do have a green target top for bullish pennant right in alignment with greg's target at 108,000 as well. So the one hour and the four hour are both showing bullish pennant. $108,000 target breakouts. Let's see if that is accurate here for today. You just never know with the bitty and checking out on the daily big green candle forming. We've had a corrective past couple of days but it's all good. Next up, live and in the flesh. We're above 987. Virtually 1% away from price freaking discovery. Let's go gentlemen. And zooming out. We check out the one week. We still have the sexy cup and handle target in place sitting at 124,000. That can happen any moment. Q4. We're in December family year of the having year of the dragon. And don't get more lit. And zooming out to the monthly. You notice that huge moonvember monthly candle close. Well hopefully December can dwarf it. All I'm saying is I'm optimistic anything can happen with the bitty as we're approaching 99,000 so fast it'll make your head spin. How do you like that? So there you go bros. Let me know your thoughts with that. And I also want to share some breaking news as well. So let me get back and then I'll get to the comments. I promise. As we're marching to 100 GS, I think we're going to capture it here on the stream. I also wanted to share with you plan B. He made these predictions. We've covered it a lot of scenarios and he's pretty accurate. He called it October Bitcoin 70 G's November 100 G's actually it was 99.8 all time high but close enough. Plus the largest 26 monthly candle ever. Up next is the December 150 000. Do you think his predictions will remain as accurate as they have been thus far? Let me know your thoughts because that's a pretty bold target and I think it's very doable. But I want to know your thoughts. And in other breaking news, Donald Trump made this announcement. I am delighted to announce the nomination Paul Atkins AKA Nipinator to be the next chairman of the securities and Exchange Commission. Paul is a proven leader for common sense regulations. He believes in the promise of robust innovative capital markets that are responsive to the needs of investors that provide capital to make our economy the best in the world. He also recognizes digital assets and other innovations are crucial to making America the greatest than ever before. That's a win. Gary Gensler, you're out. Now go home and get your shine box including Max, the one and only high priest dominance will be determined by who has the bitcoin dominance not the oil he who has the biddy makes the rules. Trump is still learning about bitcoin Pretty accurate. Next story. El Salvador's Digital Asset Issuer raises 30 million via the US Treasury Offering and my announcement. I booked my plane tickets in my hotel. I will officially be in El Salvador in roughly a month and I will spending the week there hanging with the Bitcoin OGs. I hope to see you guys there as well. El Salvador's digital asset issuer next bridge has closed a 30 million public issuance back back by the United States treasury bills and shout out to ZK we appreciate you joining the HLE gang supporting the stream. The offering of the US TBL is the first publicly listed issuance was completed in moonvember through Bitfinex securities, which is a sister company to Stablecoin issuer Tether. And according to the Next Bridge, each US TBL issuance will correspond to a proportionate share of assets under management, with a target total issuance at 200 million worth of the US treasury securities. USTBL is a regulated public offering that was built on the Bitcoin block chain, runs through the Layer two protocol liquid network. Let me know if you guys have heard of that. And according to the Next Bridge founder Michelle USTBL can be traded on the secondary market, though redemptions will be available.
Arthur Hayes
Only in March this episode is brought to you by aws. Amazon Q Business is the new Generative AI Assistant from aws. Many tasks can make business slow, like wading through mud help. Luckily, there's a faster, easier, less messy choice. Amazon Q can securely understand your business data to help you streamline tasks like summarizing quarterly results or doing complex analyses in no time. Q Got this? Learn what Amazon Q Business can do for you@aws.com learn more of 2025 quoting them here.
JV
We will offer different mechanisms for redemption. The first one will be directly managed by the exchanges where the US TBL is available. We plan to allow dynamic redemptions and subscriptions directly in the order of the book. USTBL is subject to El Salvador's securities laws and then overseen by the country's digital asset agency, the National Commission for Digital Assets. Next Bridge's offering comes amid a proliferation of tokenized T bills hitting the market. Products from Open Eden, Black Rock and Franklin Templeton all launched this year. BlackRock's USD Institutional Digital Liquidity Fund attracted more than 447 million in assets under management since inception in March. Tokenized treasuries are a digital representation of the US treasury securities on the blockchain. The tokenization of these assets enhance liquidity, making them easier to buy and sell and reduces settlement times, allowing global investors to gain exposure to digital assets back by the US Government. And according to Dune analytics, the value of the government securities on chain currently sit at 2.3 billion below Market expectations are reaching 3 billion by the end of this year. Got less than a month to go gentlemen. Tokenization potential goes beyond the government securities and other financial products. Some use cases of illiquid assets on chain already include real estate and agricultural goods. And we all know it's going to zero against the Bitty. So shout out to El Salvador Bitcoin country baby. Let's go. 100 GS in play. Whatever it takes we're going to keep the stream rolling until we hit 100k. Let's discuss martial law. And I ain't talking martial law from the Tekken video game. We're talking real martial law. It occurred yesterday in South Korea for two hours, tanking the market. Here we go. Headline reads Martial law causes bitcoin crash to 65,000 in South Korea. Here's why. Shout out to the short coin. This gong strikes for you. Thanks for always supporting the stream. We love you. Raising vibration one gong strike at a time. The disappearance of key market players and liquidity crisis contributed to a 30,000 drop at the bitcoin price on South Korean platforms after President Y declared martial law. This happened yesterday, gentlemen. I woke up to it. December 3. Yun imposed martial law during a live television address. Interesting. Citing a need to eliminate the anti state elements and address threats posed by North Korea's communist forces. The declaration triggered immediate market disruptions with bitcoin on the South Korean exchange up bit dropping to as low as 92 million won. That's crazy. That means bitcoin on their exchange dropped all the way down to 65,000. You can see that big red candle handle here in their chart. One analyst attributed the sharp decline to a sudden disappearance of liquidity. According to the trader, the lack of active participants caused the imbalance between bids and ass, resulting in a 10 spread during the crisis. Now later, the trader said the drop would not be this brutal if the liquidity was normal. Still, they said that during the martial law declaration, all the players just disappeared from the market. Was this an inside job? What do you think was really going on, Broskis? The reason is simple. It is shockingly hard to enter the Korean market and trade there. This means that only a few players can provide liquidity and arbitrage. Those discrepancies which are the big players, I would say the whales. South Korean traders paid the price for limiting the market to only a few players, according to the trader, who said the price volatility could have been mitigated with broader market maker participation. The trader highlighted the massive sell pressure and all the instruments behind the sudden drop. Despite this, they said the market overreacted and the extreme price drop would not have happened if more liquidity providers had been participating. Participating. Hours after the martial law declaration, 190 of the lawmakers in South Korea's parliament voted to nullify the martial law declaration. Yoon accepted the decision and lifted the order. Ease in the tensions. Following the reversal, bitcoin prices rebounded. Trading at around 135 million won 95,000 USD market observers noted the temporary crisis highlighted the vulnerability of the South Korea crypto market to liquidity shocks, particularly during times of political instability. How many of you here have been to South Korea? I've been there. Obviously I've never lived there. But I'm curious, what are your thoughts on this? What's really going on? Why would they declare martial law for two hours? Inside job. What's. Let me know. I'll read your comments out loud. We discussed martial law, eh? Now we're going to discuss Is the US Government poised to add Bitcoin to the national Reserve? I think so. Trump already ultimately promised it. He said he was going to stockpile the biddy. Cynthia Lumis already made a declaration of acquiring 4 million of the bitty wow. Massive shout out to Grant Noes. He just gifted a $50 super. That's very kind of you. He says like Mel Fiser said, today is the day. This gong's for you brother. 100k in planning moment. Greatly appreciate your support, brothers.
Peter Schiff
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JV
Here we go. Could bitcoin, the world's leading crypto, become a part of the U.S. national Reserve? Oh, it will, mark my words. But anyways, what once seemed like a far fetched idea is now gaining traction, especially now that Trump is incoming to the White House. The Trump pump. Let's go. The concept of the strategic bitcoin reserve has become the subject of serious discussion and could reshape both the US economy and the global financial landscape. National reserves, they say. Slow down jv. No, I'm only going to go faster. Traditionally compromising gold, foreign currencies and commodities like oil acting as the nation's financial safety net. Bitcoin proponents argue that it's decentralized nature and cap supply make it a powerful inflation hedge similar to the gold the US already holds over 200000 of the bitty seized during criminal investigations. But some lawmakers, like Cynthia Lummis, want to take it a step further. Lummis's bitcoin act proposes the US acquire up to a million of the bitty over five years funded by reallocating existing federal assets. States like Pennsylvania already considering the bitty investments potentially setting the precedent for the federal action. Critics however point to the Bitcoin volatility and the rest of the government control over the decentralized asset. Despite these concerns, experts predict there is a creation of the US Bitcoin reserve driving the price to unprecedented levels with some estimates reaching 500 GS or even 1.1 million per coin by yours truly. Anyways, I want to know your thoughts. Do you think the United States of America adopts Bitcoin as a strategic reserve asset? I already know it's a done deal. Also guess what. Mikey Sailor, the one and only MicroStrategy founder. He just gave a second speech to the board of directors about Microsoft adopting Bitcoin to their Treasury. Can you say Bitcoin for the Treasury? Can you say game theory? Can you say nation state adoption? Can you say pension fund adoption? Can you say Saudi Arabia adoption? That's all I'm saying. Can you say Nip Anator adoption? I adopted him six years ago. He's a rescue pup. So here we go. Let's discuss 250000 target in play and then we'll discuss the million dollar prediction. Then we'll pump watch to a hundred thousand. Done deal. Make her happen, Captain. Headline reads bitcoin supply shortage could trigger the big bitcoin chase according to the fund strat Thomas Lee. That's right. Chief and investment officer of the financial research boutique beliefs. It reminds me of Minnie's Boutique. I used to watch Mickey Mouse with my daughter as a kid. There was Minnie's Boutique but we're talking about Tom Lee's Boutique here. Bitcoin can face a supply shock. Once it clears 100 GS. We're only less than 1% away. Broskis. He says bitcoin scarcity is starting to be the problem. Lee says the dwindling supply of the available bitty for sale will likely be felt once bitcoin shatters a psychological price point point of 100,000. Again less than 1% away. History in the making. Today is the day I think some of this could be. There's a lot of the folks who don't want bitcoin over a hundred thousand. They're called trolls and haters and no coiners and some of it may and lizard folk maybe the exchanges themselves that are concerned because there's a pretty low supply of the bitcoin available over the counter. So you have a supply shortage. And if bitcoin makes a move above 100,000 I think there would be a big chase. So I'm still confident Bitcoin's going to be close much higher before the year's end. Well above 100,000 thousand before the year end. Just a matter of time maybe today. Recently Lee hoped on an interview hopped on the interview. I think we covered that yesterday with SkyBridge Capital founder Scott Moochi who just did the book signing the other day. Even had Michael Sailor there giving it a 12 month outlook for the biddy. And according to the Fun Strat Exec, Bitcoin could witness 150 gain sending Bitcoin at 250G's quoting them here over the next 12 months I think something over 250000 is possible but maybe highly probable based on just one just following the price cycle. So he says highly probable meaning it's going to happen. 250000 bear scenario gentlemen. 1.1 million for the bull. I already shared my predictions, but what do I know, I'm just a podcaster. Anyways, now for our feature story of the day. Here's when the government money printing will push the bitty price to a million dollars Going to Just Blaze Arthur Hayes, the former Bitmax founder bring it In a new interview posted on Block Media, Arthur Hayes Just Blaze says he believes Bitcoin will eventually reach a million in value over the next five years. Why so bearish Arthur? Anyways, I've been on record many times saying I think bitcoin will end the year at around $100,000. Obviously we're close to that mark. Then the next question is where do I think bitcoin is going to be, you know, three, four, five years down the road as I'll get into in a bit. It I believe that the secular trend is for more money printing globally. That's not going to stop. And as such my Bitcoin 1 million price prediction I believe can happen within the next 5 years. JV is calling it for next year as my bull scenario. 1.1 million in play. But hey, we can't all be as bullish as jv. Apparently according to Hayes, most governments of the world simply cannot afford to cut the expenses and raise the taxes and will be forced into expanding the monetary supply in order to pay off the debt. He says the phenomenon is one of the main reason he's so bullish on the crypto quitting. Arthur Hayes Just Blaze again. And so again what Are the key factors driving this confidence that I have in the continuation of the bull market. It centers on money Printer Go Burr. At the end of the day the largest economic blocs in countries United States, China, Japan, the European Union. Just about every other country around the world including South Korea which just announced martial law yesterday.
Tom Lee
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JV
Are printing the money. They have different goals and policies and they want to afford but they can't afford with the taxes that'll piss the people off and so they're printing thy money. This is a trend that went into overdrive starting in 08 when Satoshi obviously came up with the bitcoin white paper and amen to that. And the genesis block which was in 2009 on January 3rd. I don't believe that's a quinky dink that the birth of the bitcoin of the crypto ecosystem coincided with one of the largest financial crisis basis since 1930s. He's right there. And so that's why I'm very confident that crypto which predominantly is price and fiat can rise. And as we have seen bitcoin is the best performing asset in human history from zero in 2009 to close to 2 trillion of a market cap which you can hit 2 trillion today. Family, we're so close. We're on the cusp. This is unprecedented. Let me know if you agree or disagree with Arthur Hayes. Just blaze in the 1 milli bitcoin price prediction as we're currently 6% I mean 0.6% from price discovery. And I'm going to tell you my targets again for the Cycle Bear scenario. 2025 Cycle Peak 250000 in play. Our very own Oracle believes this is in play for Q4 here in December. I'm not as bullish for Q4 here but next year I'm pretty confident 250 is my bear scenario where I wouldn't wrote it down. My base case 420 for the Broskis bull scenario next year. 1.1 million more bullish than Samson Mount. There you have it. So let's convert this mofo into a pump. Watch. Let's pull up some of the live charts. And welcome to the Q A segment of the live stream. 100k in play broskis. Let's see what chart should we pull up. This is the monthly. Let's zoom her in. Zoom her in. JV. Here's the the looks like we're correcting right at 99. I got 99. Problems with the biddy. Ain't one. We're gonna leave it on the one minute for a moment here. This is history in the making. We've never seen this type of price action but what like one other time was it two weeks ago and we're about to break it. Get the high priest to send it. Please. High priest. Play the chandy jam. Which one is it gonna be? We'll play a chandy jam. Shout out chandy Always jamming. 100 is gonna happen. Gam420. Let's go. And we also have a live poll. I asked the question. Win 100k this week before the end of December. General. Don't be shy strangers. Come on now. We're literally 700 away. Come on now. You feel the momentum. Sorry South Korea. Martial law is not going to stop bitcoin from hitting 100 G's. Strawberry Moon. You got it. We're going to listen to some chandy jams. I'm going to be reading comments out loud and we're going to be celebrating. This is the victory lap. Repost the stream. Spread the word. Don't be shy.
Unknown
Up.
JV
Dankness says 10 second chart. We are climbing so fast. I think that's relevant. Let's do that. We're climbing so fast. Let's just zoom in for you guys. Look at that. More targets on screen. Well said there. Thankness. I agree with you. We're going to leave this chart up and watch bitcoin usher above 100 and hopefully just shoot to 180. Wouldn't that be something? Refresh. Oh we're 180. Take that. No coiners. Sucks to be hoddling gold right now. Wouldn't you say? Peter Schiffmeister. One second chart. I might have to.
Unknown
Come with me. Whoa. Full moon. B star. Aquarius. I'm just so curious. Just a little curious. Libra Wanna pump bitcoin under the phone? With me. With me. Imagine Dragons 2024 Year of the dragon Thunder before the lightning. I'm thirsty.
JV
Deep.
Unknown
Are you feeling thunder? Are you feeling hunger? I'm craving being under the thunder. V Do you have anything to say Rap with me, baby.
JV
This is the chance for all my bitcoin champs to do the moonlight bitcoin dance. I hit him up like Pac with the bitcoin rants. My balls this hot sitting in my big boy pants.
Paul Atkins
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JV
I trust the bitty. Hey now. I got a feeling that might be next, brother. Let's go. We're look. You're using. We're using Trading View Broskis. So this is the number one charting software website. It's free. You can go create a Trading View account. You get access, I think up to three indicators. I have the primo account so we can do a little more fancy things. But nonetheless tradingview.com is what I'm using. This is via Coinbase. This is live and in the flesh. This is the day family. A big day in play. 100K1. Let's just. Let's just skip to 1.1 million again. Why play games uncensored? You got JV uncensored on YouTube. X and rumble. There's a rare breed. 10 sack commandments by Biggie. I'll give you. I'll give you a taste of the ten sack commandments. Rest in peace. Biggie Smalls. Who. Who would have thunk Biggie was a bitcoiner. And bitcoin didn't even exist when he passed. But don't matter. He was ahead of his time. One of the prophets. 1, 2, 3, 4, 5, 6, 7, 8, 9. It's the ten sets. Commandments came into this game and it made me get animal. There's levels to this shit. I wrote me a manual. Big up stub proof the indicator. I'm using that auto charts. Everything is called all chart patterns. It's one of the billions of indicators you can choose from. And it makes life easy because I don't pretend to be the chartist. Like I find it funny when people like. What's his name? Is it Garrett Soloway? They. They have like a hundred inch monitor and they look at the charts and then they want you to believe they understand what they're talking about. Oh, Bitcoin's going to zero. Here's where you do the short. And they do the witchcraft. I'm not into that. Like, go yourself, losers. Let the AI do what it does. I don't pretend to know the direction of the bitcoin. It goes up and down every day. Can we keep it 100? I have no idea what's gonna happen. Except one thing. 1.1 million in play. I can guarantee that. I can guarantee it. One thing I can't guarantee is the day. One thing I can't guarantee is the day. As simple as that. Gareth is an undercover lizard. Yeah. If he's not a lizard and he doesn't have the lizard tail, he probably works for the folks that do. And he gets paola. That's how the world works. Gentlemen. I'll wait till I get my money right Little Kanye. Lil Yay. A little easy. Wait till I get my Money Right Classic 2024. Year of the dragon. I hit him up like the bitcoin rats. My balls is hot sitting my big boy pants. And don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in our live Q A. And I look forward to seeing you on tomorrow's episode. Hoddle.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News Episode 1838: “Here’s When GOVT Money Printing Will Push Bitcoin to $1,000,000” Release Date: December 5, 2024
In Episode 1838 of Crypto News Alerts, host Justin Verrengia delves deep into the escalating momentum of Bitcoin (BTC) amidst significant political and economic developments. With Bitcoin nearing the coveted $100,000 mark, Verrengia explores the interplay between government monetary policies, regulatory changes, and market dynamics that could potentially drive Bitcoin's value to unprecedented heights, even predicting a surge to $1,000,000.
Verrengia opens the episode by highlighting Bitcoin's rapid ascent, noting that the cryptocurrency is merely 2.5% away from the $100,000 milestone. He emphasizes the positive market sentiment, stating, “The entire market is back in the green,” and points out that Bitcoin's market capitalization is approaching the $2 trillion mark for the first time in history.
Key Highlights:
Notable Quote:
"Bitcoin is pumping so fast it makes your head spin," (01:00)
Verrengia presents live charts, showcasing bullish formations on both hourly and four-hourly intervals, with targets set at $108,000. He underscores the bullish sentiment by referencing Plan B's stock-to-flow model and other technical indicators suggesting continued upward momentum.
A significant development discussed is former President Donald Trump's announcement appointing Paul Atkins as the new chairman of the Securities and Exchange Commission (SEC), replacing Gary Gensler. This move is portrayed as a win for the crypto community.
Key Points:
Notable Quote:
"He who has Bitcoin makes the rules," quoting Max Kaiser (04:15)
Verrengia interprets this appointment as a positive signal for Bitcoin's future, suggesting that regulatory support could further propel BTC's value.
The episode covers El Salvador's Digital Asset Issuer, Next Bridge, successfully raising $30 million through a public issuance backed by US Treasury bills. This initiative is built on the Bitcoin blockchain and aims to enhance liquidity and accessibility of government securities.
Key Points:
Notable Quote:
"Tokenized treasuries enhance liquidity, making them easier to buy and sell," (08:50)
Verrengia highlights this as a pivotal step towards integrating traditional financial instruments with blockchain technology, potentially setting a precedent for broader adoption.
A dramatic event covered is South Korea's declaration of martial law, which temporarily caused Bitcoin to plummet to $65,000 on local exchanges.
Key Points:
Notable Quote:
"Martial law causes Bitcoin crash to 65,000 in South Korea," (12:15)
Verrengia discusses the implications of such political interventions, debating whether it was an inside job or a genuine response to geopolitical tensions. He emphasizes the importance of broader market participation to prevent such drastic volatility in the future.
One of the episode's focal points is the potential for the US Government to incorporate Bitcoin into its national reserve assets.
Key Points:
Notable Quote:
"The concept of the strategic Bitcoin reserve could reshape both the US economy and the global financial landscape," (16:45)
Verrengia expresses strong confidence in this trajectory, suggesting that institutional and national adoption will drive Bitcoin's price to $500,000 or even $1.1 million in the coming years.
The discussion shifts to the looming Bitcoin supply shortage, with insights from financial strategists like Tom Lee and Arthur Hayes.
Professor Tom Lee, Chief Investment Officer at Fundstrat, predicts that Bitcoin's scarcity will trigger massive buying pressure once it surpasses the psychological $100,000 threshold.
Key Points:
Notable Quote:
"Bitcoin scarcity is starting to be the problem," (19:20)
Arthur Hayes, founder of Bitmax Exchange and co-founder of BitMEX, forecasts that relentless global money printing will push Bitcoin's value to $1,000,000 within five years.
Key Points:
Notable Quote:
"Bitcoin will eventually reach a million in value over the next five years," (21:10)
Verrengia echoes Hayes' optimism, asserting that Bitcoin's integration into national reserves and continued institutional interest will sustain its upward trajectory.
Verrengia provides a snapshot of the broader cryptocurrency market:
He underscores the bullish sentiment, noting that even with minor corrections, the overall trend remains upward, positioning cryptocurrencies for continued growth.
Notable Quote:
"We're just 0.6% away from price discovery," (05:45)
Episode 1838 wraps up with an emphatic bullish outlook for Bitcoin. Verrengia reiterates the potential for Bitcoin to reach $100,000 imminently, with further projections suggesting prices could soar to $250,000 or even $1,000,000 as governmental and institutional adoption intensifies.
He encourages listeners to stay informed and engaged with the crypto community, emphasizing the transformative potential of Bitcoin in reshaping global financial systems.
Final Notable Quote:
"I already know it's a done deal. The US adopting Bitcoin as a strategic reserve asset is inevitable," (22:30)
Verrengia concludes by inviting listeners to participate in live streams, Q&A sessions, and to stay connected through various platforms for real-time updates and in-depth analysis.
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HODL!