February 19, 2022

WHERE OH WHERE HAS MY BITCOIN GONE? WHERE OH WHERE HAS IT GONE?

JUST ONE OF THOSE DAYS- ANOTHER ONE????

Although as I write this, Crypto is slightly above $40,000 and is headed upwards, I did see it fall to $39,000+ an hour ago. Everyone is wondering about where it is going, though some have more fixed and even educated opinions than others, but nobody feels a real flush of confidence- except perhaps for the long term.

Chris at MMCrypto does sound more concerned than usual. He says at the beginning of the following video, I am sorry to say but the BitCoin emergency literally continues here…Of course we see that BitCoin is tumbling here right now.” He emphasizes that right now is the moment where Crypto investors should be very, very vigilant. The emerging M pattern, which could have indicated a nice uptorn, broke down and went lower. He does, however, believe that it might hit $38,000 and find support. But speaking of real downside possibility, he does not believe that it will go below the $30-32000 level. Holy Hannah! Still, he notes that many of the institutional players including Michael Saylor of MicroStrategy bought their initial investment around this area and, for that reason, somewhat psychological, there could be many institutional buyers at this level, perhaps fearful that the BitCoin price would suddenly rise. It is critical that a serious trader always looks at both sides of the current scenario.

THE DEATH OF BITCOIN PRICE ACTION

THe following video features and appearance by Will Clemente on the Anthony Pompliano Channel. They discuss a comment that what we have been experiencing in markets in general, including Crypto, was a “trendless chop,” meaning that there is a dip which does not necessarily indicate a discernable trend. An example might be something like the Russian-Ukraine issue. But I think the Fed’s definitive movement towards rate hikes, when more fully clarified, the  upcoming Biden executive order on Crypto, the SEC’s efforts to control secure coins and to investigate certain Crypto companies for selling securities may also be factors. And, of course,there may be price manipulation as a great big factor as well.

Will thinks that in order to truly feel more secure- and perhaps think of the Bull Run beginning to work in full force, we have to get to about $47000. Right now, the low isaround  the $30,000 range. He notes the difference between value and momentum buyers. The value of BTC is rather low now- meaning, I believe there are many questions. But if you are a momentum buyer, interested in things that move in the direction you have determined, $47,000 might be a secure place to start without the super volatility we are now experiencing.

BRIAN ROSE OF LONDON REAL ASKS JEREMY ALLAIRE- IS THE USA LOSING THE CRYPTO WAR?

Jeremy Allaire, a guest on London Real,  is a major expert in global financial technology and Co-Founder, Chairman and CEO of Circle. Circle, which encourages businesses to utilize the power of stablecoins and public blockchains for payment and commerce scenarios, certainly answers the headlined question in the video below.

Before getting to his guest, Brian Rose mentions that he is getting rather fond of Gary Gensler, current chair of the SEC- and certainly a problem now for certain crypto companies with his concerns about stable coins and the “securities” status of certain Crypto companies- should the be registered and regulated by the SEC.

Jeremy Allaire does believe that the USA is not falling behind in the technology and direction of the Crypto world. He is, indeed, the pioneer of the USDC stable coin and believes that the United States does realize that there is a great deal of value for the United States since the market is definitively connected to the U.S. dollar. I would add including the ability to collect taxes- as well as financing various projects that could ultimately affect the GNP (although this is somewhat in the future as the personal prosperity and consumer activity could rise as a result of Crypto popularity and use- my comment). I agree that there should be further regulation or oversight on stable coins that correspond to the U.S. dollar. I don’t particularly care how it’s done- but these companies need to be audited so they can surely pay out the dollars they are tied to- and so the entire cryoto market remains secure.

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REPORT ON EL SALVADOR

BitCoin Magazine presents at interview with Max Kaiser who has along with his associate, Stacy Herman, has been visiting El Salvador. They report that although, of course, there are various mixed opinions about the legalization of BitCoin on the street, but the reality is that there are more users of BitCoin and BitCoin wallets than there are users of the banking system. A complete flip in around six months. Further, for those who are not yet comfortable with their AirDrops of BitCoin, there is an aggressive effort to teach the public about it and how to use it.

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