Bitcoin It’s Starting Now!

Bitcoin It’s Starting Now!

Bitcoin is really starting to heat up and when you see what’s been happening recently the numbers were talking about here it’s absolute Insanity we’re getting ready for something very very big to happen in these markets my suspicion is that we’re going to look back in the not so distant future to this time period and go wow things were so cheap back then why didn’t I take more risks but it’s always that way isn’t it it’s the kind of moments in the market may go oh it’s happening again isn’t it oh it is it is let’s get into because lots of big things to cover bitcoin news bitcoin price altcoin updates particularly on mean coins crazy stuff happening in mecoin space as always mean coins are just absolutely nuts to cycle aren’t they let’s dive in let’s look at the price of Bitcoin we of course faced a nice little rejection here look at that one two three four five five rejections now from the $72,000 price range and I know what you’re probably thinking it’s over it’s going to zero now no it’s not no it’s not what’s actually quite interesting about this is that we have seen in previous Cycles where we have all this sort of let’s Sol it call it price turbulence around previous alltime highs now $669,000 that’s our previous alltime High Zone we’ve seen of course the initial rally up to 74k people got very excited but ever since then we’ve really just been knocking on the door haven’t we just going slightly over the previous alltime High smash SM down slightly over Smash down slightly over Smash down slightly over Smash down now the thing you need to know about this sticky resistance here is that the more we keep knocking on that door the less likely it is to hold maybe we tap there a couple more times but when we break out Above This 72k level get ready for fireworks because there’s nothing but clear ear air above us okay you need to understand that so right now we have Wall Street out here they’re trying to short Bitcoin because they’re a bunch of degenerate gamblers who hate everybody so that’s what they’re trying to do of course but it’s not going to succeed because Bitcoin is built different the inflows that are coming on right now are built differently you cannot ignore the insanity that’s going on in these markets I mean when you see the numbers it’s absolutely nuts I like this thought here from Chris biski as well he says when we look back in a few years we Mark at the similarity between bitcoin’s test consolidation and breach into price discovery of former Psych alltime highs of 20K and 69k and if you look back at the 20K times and you try to think about well the current price action in that initial consolidation period that happened after the initial touch you’ll see some interesting similarities and again once we break 72k get ready and it’s interesting that we haven’t even done it yet you know in any meaningful way that we haven’t seen the price Discovery come in because look at the ETF inflows us Bitcoin ETF F inflow saw 131 million in inflows on Friday that’s after of course a massive massive week with hundreds of millions flowing into the products huge huge 19 consecutive days of inflows look at this beautiful 19 consecutive days of inflows including a day June 4th 886 million half a billion on June 5th so yeah okay the 7th Friday was kind of a slower day at $130 million of inflows but still absolutely massive as big bit coin archive pointing out Bitcoin ETF products taking in $2 billion in just trading days that’s absolute Insanity are you seeing the big picture what’s happening here and I know what you’re thinking well that all sounds great internet man however why is the price of Bitcoin not already at 90k with all this exciting price action going on well that’s a great question and here’s the truth I don’t know nobody else really knows either but we are going to get there and the thing is you have to understand that two billion dollars of Bitcoin inflows that equates to more than like more than 10 times what miners produced in that same time period we’re talking wild sums of money this is accelerating where we’d normally be in a cycle the fact that we are consolidating around the previous all-time high only weeks after the Bitcoin having is in of itself a wildly bullish event for the market itself patience is required I know there’s people selling there’s miners selling there’s fund selling okay look there’s always sellers that’s what brings the price down and macro concerns have not gone away people are worried about the jobs Market all that right but big picture look what’s going on look at the amount of Bitcoin being sucked up off the markets right now you cannot fight that forever you really can’t you really can’t these ETF products have been in insane liquidity injection and as the money keeps coming in that resistance at 72k becomes weaker and weaker and weaker until we break out and move up to 90 to 100K as our next major Peak for the market the next stepping stone up remember it’s always two steps forward one step back in markets so we’ll go up to 90 to 100K and then we’ll go back down to 70k retest previous alltime highs a real freak out and think we’re going back to 12K understand that’s how markets work okay because it’s how they do we’re funny we’re funny monkeys aren’t we okay also want to share this with you this is interesting Canadian public company defi Technologies has adopted Bitcoin as a primary treasury Reserve asset it’s 110 Bitcoin great we’re going to see more more companies I it’s only 110 Bitcoin it’s nothing to get wildly excited about reminds me of when that um there was a Canadian Falafel company you guys remember this story the Canadian Falafel company has started buying Bitcoin during the bare Market a lot of people laughed at them I I said they were Geniuses and those guys are probably sitting very comfy right now somebody should follow up with those uh those flawful guys see if they still see if they held their Bitcoin if they didn’t cave in and and uh paperhand it because if they didn’t they are sitting in some nice profits Love flaf flaff is Great by the way and hummus wrap it up in a nice pea great stuff anyway we’re getting off topic here but think of this every little company that buys 100 Bitcoin there’s not enough Bitcoin for all of them and there’s not enough Bitcoin for the hedge funds and the endowments and the all the in institutions and the banks the Millionaires and billionaires and everybody who want there just is not enough Bitcoin there is not okay now before we get into the meme coin silliness that has been going on because it’s getting it’s getting froy out there guys if we’re being real about it I want to do a real quick shout out to today’s sponsor which is crypto.com look crypto.com let’s you guys do 350 plus cryptocurrencies using more than 20 different Fiat currencies so they are doing great work over there at crypto.com I’ve been using the app for years been using their card for years you 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stuff portfolio disclosures in the description or pin comment down next anyway huge volumes right now happening on Salon a lot of that is meme coins uh the craziness we’re seeing right now around just all kinds of wild garbage being launched hot garbage being launched on Salon people love it are eating it up but base not to be outdone coinbase’s base the layer two it has been surging as dope oxide points out here at the start of 2024 base had a tvl total value locked of a billion dollars then by March it was three billion June now it’s 8 billion look at the trend base summer is getting started it’s going crazy in fact in terms of layer twos base is now number two that’s going to be number one it will flip arbitrum when you understand what base is the money that’s coming the craziness that’s coming to base it’s definitely going to flip arbitrum arbitrum has been the number one spot for a while but man you cannot compete with coinbase they’re the Big Daddy aren’t they watch out I like this Meme here because this is kind of the insanity of uh what’s going on in the meme coin space right now so we went from of course The Cutting Edge the the bleeding edge of ultimate mem coin technology which was dog with hat they took the dog they put a hat on the dog I know what you’re thinking where do they come up with this stuff I don’t know genius is out there what are you gonna do people are just way smarter than us man putting hats on dogs out here come on man come on come on then of course we have stuff like book of meme which is launched by a famous nft artist and had a good Community behind it and stuff like that and then comes Iggy AA and her butt now worth $200 million then uh Andrew Tate apparently also not really launching it didn’t launch his own I’m not sure the story I haven’t really been paying that close of attention to it he’s getting he burned a bunch of meme coins the other day some people sent him some meme coins he burnt the meme coins people got all excited about that they’re sending it up big time it’s getting silly out there in the meme coin space guys but that silliness okay by the way Cobra Andrew Tate inspired meme coins um gme inspired by gay stop and mother which is IG aa’s one combined flip base and 24-hour onchain volume that’s crazy by the way salana is the place to be doing degeneracy if you want to participate in that kind of wild fun salana is the place to be but do not count base out by any means because base memes have been doing incredibly well as Jesse poak here points out three days in based Brett coier West coin based mfer coin boomeran base mcoin eth dgen token base are leading the summer on boarding race still very early though we got the rest of the that bring millions of new people on chain look at what coin Bas is intending to do they just launched their smart wallet and they’re literally trying to bring millions of people on chain to base they’re not bringing them on to salana Sal’s fine Sal’s got plenty of people they’re not bringing them on to arbitrum they’re not bringing them on to whatever alternative layer one you’re holding no no they’re bring them onto the base layer two and that is very good news if you’re holding certain meme coins as your pop here points out Brett has officially flipped Bon to become the sixth biggest meme coin in the 62nd biggest crypto project in the world and you do realize that binance coinbase okx crypto coinx Robin Hood have not listed it yet right that’s pretty crazy my Brett bags doing very well of course we’ve been talking a lot about Brett we’ talking about Benji more than that in a second um but I hope that you know I don’t tell you guys what to buy that’s not what I do here okay I I cover the news we talk about stuff I share my opinions on things um I share what I’m paying attention to what I’m investing in right I was told you guys I’m investing in Brett I’m investing in Benji here we go and the thesis was clear to me Bas season is coming Bas is going to be a wildly bullish narrative this cycle and I want to be exposed to the top memes on that feel fact I almost feel like I need another Bas meme I don’t know I’ve been going back and forth between buying another Bas Meme and like putting you know I don’t know a couple Bitcoin or something into like dog which is the big one on um big Bitcoin Rune meme haven’t done it yet but you know it’s been on my radar of things to think about and I kind of missed buying it at a cheaper price so now I’m get the eagle gets in the way I’m like damn I could have bought that a few weeks ago but I’ve been busy not spending as much time thinking about the crypto stuff my portfolio as maybe I should have anyway s you you can’t catch them all but uh I still may buy that I still may I don’t know we’ll think about it but maybe I just need to get more base exposure maybe I need to double down on the existing memes that I have Rett of course has been doing wildly well hit around the $2 billion do market cap which is insane and probably going to go a lot higher as Bas season continues to grind on of course not saying now is like the best time to go buy it or anything obviously guys didn’t make your own decisions it’s just had a massive runup please invest responsibly don’t go film into the tops on everything guys okay that’s how you lose your money Benji doing very very well recently crazy it’s only a $90 million market cap that is actually pretty nuts when you think about it this is the good boy okay this is the dog coin of base and if you’re into dog coins then Benji I’m an ambassador by by the way Benji’s something that perhaps you w’t pay attention to because Jesse Pak the main Dev behind base he’s on board we are seeing all kinds of big Partnerships coming out they launched the tomag GOI game stuff like this the Market’s paying attention and Benji’s up massively in the last week look at this we rallied from two cents all the way up to 10 cents man that’s crazy huge rally this week absolutely huge rally in the last week for Benji and of course with mem coins you have to expect massive volatility because that’s part of the mem coin game okay okay keep that in mind but as coinbase continues to onboard more people into the base ecosystem I can see that base meme coins have a great potential to keep running okay so that’s how I’m allocating some of my money anyway you guys will decide what to do with your money hey last thought for today I saw this post and I wanted to share it uh from Bas 16z he said this cycle or post cycles will be surprising in its length and Meandering nature no blowoff top smaller nukes slow breed across most altcoins little excitement dispersion for three plus years now I don’t necessarily agree with that um I still think we’re probably going to top out late next year but it’s an interesting idea and I like exploring different theories I like thinking well what if the accelerade theory guys are right what if the four years right which is my Camp uh what if the super cycle guys are right you know and how can you prepare for those different scenarios how can you prepare your portfolio to try to get as much gains as possible while accounting for different scenarios and to be watching out for those things you always have to challenge your belief system okay because here’s the thing nobody has a crystal ball Market we don’t know exactly what’s going to happen we don’t know where things are going to go and because of that it’s important to stay mentally agile let’s say right and to be open to different theories and different ideas and if that theory were to play out would you be ready anyway just a thought guys thanks for watching I’ll see you in the next one peace

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