Bitcoin Surges to $35k, Welcome to the Bull Market | Weekly Recap
Title: Weekly Crypto Market Report: Bitcoin’s Bull Market, GDP Growth, and Currency Trends
Introduction
Welcome to the Weekly Crypto Market Report, where we provide you with the latest updates and insights on the cryptocurrency market. In this edition, we will discuss the current state of the market, including Bitcoin’s bull market, GDP growth, and currency trends. We will also touch upon the upcoming events and developments that could impact the market in the near future.
Bitcoin’s Bull Market
Bitcoin has been experiencing a bull market for over a year now, with significant price increases and growing adoption. Despite occasional price corrections, the overall trend has been positive, with Bitcoin reaching new all-time highs. This bull market is characterized by a series of higher highs and higher lows, indicating a strong accumulation pattern.
While some may argue that the bull market is just beginning, it is important to note that Bitcoin has been in a bull market for quite some time. The recent price surge and positive sentiment are a continuation of the ongoing trend. However, it is crucial to remain cautious and not assume that the market will continue to rise indefinitely.
The recent spike in Bitcoin’s price can be attributed to various factors, including the anticipation of the approval of a Bitcoin exchange-traded fund (ETF). Several companies have filed for ETFs, and if approved, these ETFs could attract significant investment and drive the price of Bitcoin even higher. However, it is important to note that the impact of ETFs on the market may not be as significant as some expect, as the overall market capitalization of Bitcoin is much larger than the potential investment in these ETFs.
GDP Growth and Economic Outlook
The recent GDP growth figures indicate a positive trend in the US economy. The real GDP growth rate for the third quarter of the year was 4.9%, surpassing expectations. This growth was primarily driven by consumer spending, which remains strong. However, it is important to note that these figures are subject to revision, and the final numbers may differ.
While the current GDP growth is positive, it is crucial to consider the broader economic outlook. The fiscal situation in the US is concerning, with increasing government spending and a growing national debt. These factors could have long-term implications for the economy and may lead to inflationary pressures.
Currency Trends and the Yen
Currency trends play a crucial role in the global economy and financial markets. The recent strength of the Japanese Yen (JPY) is worth noting. While the Yen has historically been a safe-haven currency, recent developments suggest that it may strengthen further. This trend is driven by factors such as the flight to safety and concerns about global market volatility.
Investors like David Ruffer, a renowned investor, have taken significant long positions on the Yen, anticipating a correction in global markets. This suggests that there may be a flight to safety in the near future, with investors seeking refuge in assets like the Yen.
Real Estate and Homeownership
The real estate market is experiencing significant shifts, particularly in the homeownership landscape. Millennials, in particular, are opting for renting rather than buying homes. This shift is driven by various factors, including affordability concerns and changing attitudes towards homeownership.
While homeownership has been a traditional part of the American dream, renting is becoming a more viable option for many individuals. This shift has implications for the real estate market and the broader economy.
Conclusion
In conclusion, the cryptocurrency market continues to experience a bull market, with Bitcoin leading the way. GDP growth figures indicate positive economic trends, although caution is advised due to the fiscal situation. Currency trends, such as the strength of the Yen, suggest potential market volatility. Additionally, the real estate market is witnessing a shift towards renting rather than homeownership.
As always, it is important to stay informed and monitor market developments closely. The cryptocurrency market, like any other market, is subject to fluctuations and uncertainties. By staying up to date with the latest news and trends, investors can make informed decisions and navigate the market effectively.
Didn't Jack Farley do a play by play of the SBF trial on this very youtube channel???
Toto before Journey??
Yikes!!
Stocks are falling and bond yields are rising, but markets still donโt seem convinced the Federal Reserve will pursue plans to keep increasing interest rates until inflation is under control. I'm still at a crossroads deciding if to liquidate my $117k stocck portfolio, whatโs the best way to take advantage of this bear market?
I was an unexperienced crypto trader and i lost over $30K when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I find one source to recover my money, at least $5k profits weekly. Thanks so much Mrs Maria Reyes.
best hr of my week
I chuckle when Mike complains about how young people are disillusioned about ever buying a home. Hey Mike, try buying a home in the early 80's with record high interest rates combined with record high unemployment rates.
Everyone wants to know what happens with sbf. B/c of the scandal, but more importantly how much donations he gave to the dems… make it disappear and let him off with a slap on the wrist. Get ppl focused on something else. ( Everyone is over it? Is this a channle bought and payed for like main stream midia????)
Bitcoin is the way of the future, and investing in it will be the smartest decision you can make, especially given its current price.
Nope absolutely not
The best investment one can do right now is investing on Forex trading though stocks are good but ever since I swapped to Forex, I've seen so much difference
Itโs a fake rally with a very low volume. Weโre in for a drop, once that drop is finished, we will then have one of the greatest short squeezes youโve ever seen. Not a 2008 drop, not yet at least, the big crash is going to come later. I only aim for short term solid gains from market correction and I'd definitely jump on the boat if I knew a thing or two about day-trading. I'm just looking for the right moves to grow and hedge my stagnant reserve of $470k from inflation.
It's quite a really small world , really nice to see Mrs.Deborah mentioned here . If you are a newbie she is one of the best out there that can help . I made my first $ 100k in profits just a few months after I started the last year . Now I hit consistent gains her trade calls . Beautiful recommendation…
[Sigh]
It's cute that Marks guardian let's him walk around without a helmet
I tune in for the people!
yeah, you guys have great chemistry and fun to listen too..
Great show! Question – if fair value by way of Metcalf's Law is around 50, then the halving makes it 100, this does not seem to account for growth of network users, which remains to be seen. Perhaps 200-250k will be the Metcalf number this cycle. Thanks again.
You talk about US spending but NO ONE ever talks about why the US isn't worried about spending. I keep wondering ****WHY***** the US isn't worried about spending. Trillion dollar deficits and the US (both parties) pretty much keep spending as if it is no big deal. Please tell us what the US knows that the average Joe doesn't know. Please don't continue to just state the facts about spending too much, tell us why there is absolutely no concern. Do US leaders know something we don't know? The US goes from 8 trillion to 33 in less than a decade and no one cares – I don't get it. I don't get the lack of concern. Biden just suggested 100B for war – after spending so much already, on a whim they suggest spending more.
And it's about to break below $34000. The was nice while it lasted! ๐ This is not immune to reality like you guys think. In fact, when SHTF you're taking the elevator down.
Yukos was on top form in this one. States that "timing is everything" in investment and then recommends going long the Yen when there appears no valid reason to do so unless you expect ww3 to break out (or unless he's aware of some dramatic change the boj is about to make in its policy)- in which case I think a yen position would be the least of anyone's worries. We need the timestamps as well to navigate the great man's wisdom more efficiently.
There is no Bitcoin network. It's atrophied because it's a store of value and no one uses it.
I always loves you guys interactions and intelligent convo!!
Mark always loses my attention when he gets into personal stories
Please end this show. Thank you. Really committed to the sock routine eh?
Anti-American show of Putin apologists ruining American economy for their own bottom-line.
Been looking forward to this one all week!
See you there chaps! Is there free Pimms?
Bitcoin settlement later? Cmon brooooo. Never going to happen, blockchain is archaic and slow technology. AND financial data needs to be private. Bitcoin as world settlement currency = never
Some of this is good and realistic…. but this messianistic talk about Bitcoin as the global settlement layer? Come on now…. Money is a political project. If countries are going to settle accounts in BTC (as some countries did with gold) it will require actual political agreement among nations to do so. Does anyone really think the Chinese, US or European governments will adopt BTC as a primary reserve currency or settlement layer? Or that people around the world will force that to happen by just using BTC to settle with each other individually? Seems like a long shot to me, considering how certain he seems. Then again, everyone talks their book, and if you own an asset, you implicitly are making the case for its value.
But what is value? I have the apparently boring view that value is subjective, and that there exists no objective value for anything. He kind of approaches this view by saying that prices don't mean anything – that they only reflect what we are willing to pay for perceived value. But then he implies that some sort of "true price", which he calls value, which the real price only deviates from. In my view, ALL prices are subjective just as value is subjective. He spends all this time talking about how no ones knows what true value is. But he doesn't seem to clear on it himself…
the ticker had been there for months already it was just picked up on
top
Yusko speaks a lot of words but doesnโt say anything. Itโs fascinating
The ads are just as long as the video. OMG
I will be forever be indebted to you, you have changed my entire life and I continue to preach on your behalf for the whole world to hear that with just a small investment you saved me from going into huge financial debt. Thank you Mrs Desiree Madison
I have to rewatch the video did you just not lost $LINK. I hope I just missed it lol
What is the best way to profit from the current market,? I'm seeking to invest $900K across markets but don't know where to start.
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Mrs Josephine collins.
still better than RV
Bitcoin's recent aggressive rally to fresh highs above $34k has stirred significant interest in the financial investment community. The surge is speculated to possibly be the beginning of a massive new uptrend, making it a crucial time for investors to pay attention, I've personally benefited from following Kerrie Farrell trading tactics, amassing 23 bitcoins in a short seven weeks period, which speaks volumes about her expertise.
good
Honestly, I'm unsure if investing is a wise move right now. Take note of how frequently things fail. As I still have some time before I retire, I'm still looking for a better strategy to invest my money despite reading charts and predictions from well-known investors from the past and present. In order to generate passive income, I want to build a solid and reliable portfolio.
What if full on anti crypto populism is here short term unfortunately?
Sanctions, social ostracization of anyone crypto affiliated, millions of ex-crypto users -most of whom are naive Gen Z and millenials (94%) to cheer on Feds starting to arrest devs and promoters using the coming worsening economic sentiment to their benefit, more banks to unbank the banked for using crypto like Chase UK just did, barely a day goes by without another indictment/lawsuit/hack now, new FinCen requirements on mixers Friday, UK FCA threatening prison time to unregistered advertising, list goes on and on.
It's unfortunate but crypto industry really thought due to a decade of ZIRP the world ran on shitcoins and DeFi. Turns out when shit hits the fan it still runs on state backed violence. For now.
And then there is the issue of having release and market half baked, often flawed, open access financial tech to the masses marketed as replacements for the banking system, inadvertently lead to terrorist financing and billions to be hacked from users and builders alike, I think it's a bit naive to think nothing will happen in retaliation from users and the Feds?
I fear that a level of hell the crypto industry cannot imagine is still to come, and economic crimes to be paid for before any future bull market to happen longer term. We shall see.
Next week please ask this question. If fair value is now 50K pre halving and the ETF approval pushes it up to say 70K before the halving are we aleady in the eurporia and it will crash or does the fair value increase due to the EFT. Thanks. ๐๐๐
Lol its in a Wyckoff distribution pattern. Not accumulation. Do you guys get paid to mislead people? Serious question.
Thanks guys!!
I really enjoyed this episode as with all the others when Mike and Mark intelligently banter on so many wide variety of financial topics. However, near the end of this episode Mark claims that Bitcoin is going to be the global settlement layer at some point in the future. That seems like unrealistic hype to me because for that to be true it will have to consume all the electrical power that that all humans on Earth produce for everything else today. It is a very dumb system to require gobs of energy to make money, even more dumb than using our food to make energy, as with corn being used to make ethanol. So, the only way cryptocurrencies are going to become a payment settlement layer to the global system is if cold fusion power is finally achieved at scale at near zero cost.
Yusko is the fucking man!!!!!
24k coming soon…
My question is this a good time to buy stocks too? I know everyone is saying stocks are at a discount and bull market is here, but just how long will It take for us to recover, obviously there are strategies to maneuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere?