CHINA LEGALIZES BITCOIN AND CRYPTO?!? Why this dip is one you MUST WATCH
The Future of Cryptocurrency in America
In this video, the speaker discusses the current state of cryptocurrency and its future in America. He talks about a recent event that has had a significant impact on the industry and provides insights into why he is bullish about its future.
Bitcoin Sell-Off
- A sell-off occurred in the crypto market due to reducing leverage in the system.
- Eric Crown predicted a run-up to 31.5k to 32k range, followed by a bigger pullback.
- If Bitcoin is under 30.6k on a daily closing basis, downside pressure can be expected.
Instability in Mainstream Financial System
- Since the bank bailouts and instability in mainstream financial systems, the FED blinked and rushed in with money.
- Drops and dips are now seen as opportunities to buy.
- Bitcoin went down to the 12K region, which was what many people were calling for.
Gary Gensler Testifies Before Congress
- Gary Gensler testified before Congress under oath regarding SEC's enforcement of cryptocurrency regulations.
- Representative McHenry grilled Gensler repeatedly about whether Ethereum is a security or not.
Overall, despite recent sell-offs and fluctuations in price, there is hope for cryptocurrency's future in America. The speaker believes that drops are now seen as buying opportunities, and recent events such as Gary Gensler testifying before Congress provide optimism for increased regulation and stability within the industry.
Understanding Public Policy in America
The speaker discusses the challenges of understanding and operating within the current climate of public policy in America.
Challenges with Public Policy
- It can be difficult to understand and operate within the current climate of public policy in America.
- This can lead to confusion and frustration for those trying to navigate the system.
Catalyst for Growth in America
The speaker discusses potential catalysts for growth within the United States.
Legislative Changes
- Warren Davidson introduced legislation to have Gary Gensler removed and structure the SEC as a body that must report to Congress itself in order to make its decisions.
- This could completely restructure the future of business in America, bringing regulatory clarity and keeping innovation in business within the USA.
Regulatory Confusion
- Warren Davidson questioned why Gary Gensler prosecuted Kim Kardashian for promoting a scam token but did not go after the issuer.
- This confusing form of legislation is designed just to send fear throughout the ecosystem.
Turning Point for Cryptocurrency
The speaker believes that yesterday marked a turning point for cryptocurrency.
Global Developments
- Hong Kong courts are now recognizing cryptocurrencies as property, while their banking sector will start opening itself up to cryptocurrency startups and companies.
- Russia is creating special institutions to mine cryptocurrency, distancing themselves from the US dollar along with other countries such as Brazil, India, South Africa, France, and even some Eurozone nations.
Devaluing Dollar
- There is a global push to devalue the dollar, and US sanctions are hurting the dollar.
- The US needs to start fighting the battle to attract cryptocurrency to thrive within their borders or their enemies will create a hospitable home for it.
Artificial Intelligence
The speaker discusses artificial intelligence and its potential impact on society.
Truth-Seeking AI
- Elon Musk is launching a truth-seeking artificial intelligence platform called "truth GPT".
Importance of AI
- Gary Gensler stated that artificial intelligence is the most important technology of our lifetimes.
AI and the Future of Currency
In this section, the speaker discusses the possibility of AI being paid for their work in cryptocurrencies like Bitcoin instead of fiat currencies.
The Potential Preference for Cryptocurrencies
- The speaker acknowledges that AI may not be interested in getting paid, but if they do value currency, they may prefer cryptocurrencies like Bitcoin.
- This is because cryptocurrencies are decentralized and not subject to government or central bank influence, making them more stable and resistant to inflation.
- Additionally, the fixed supply of Bitcoin would ensure that it maintains value over time, which could be appealing to AI.
Financial Warfare
In this section, the speaker discusses how wars since World War II have been financial proxy wars for resources like oil and influence over communism. They also discuss how digital resources are becoming a new battleground.
The New Battleground
- Wars since World War II have been financial proxy wars for resources like oil and influence over communism.
- Digital resources are becoming a new battleground as nations compete for digital gold and oil.
- Nation leaders are starting to recognize the importance of fighting in this battle.
Understanding Crypto Technology
In this section, the speaker emphasizes that crypto technology is designed to make the world a better place. They also discuss how important it is to accumulate now while understanding that crypto technology is unstoppable.
Importance of Crypto Technology
- Crypto technology is designed to make the world a better place.
- Accumulating now will be some of the easiest financial wins due to recent developments with FED blink.
- Crypto is a movement that is the future of this country, and it's important to get involved in upcoming elections.
Coinbase Public Policy Portal
In this section, the speaker discusses how Coinbase has created a public policy portal that allows users to see the sentiment on crypto for each political representative in their state.
The Importance of Government Involvement
- Government works when we use our voices, and it's important to get involved in upcoming elections.
- Coinbase has created a public policy portal that allows users to see the sentiment on crypto for each political representative in their state.