Bitcoin Ready to Head Higher Welcome back to cryptos R Us, I'm George, and we're all George happy Friday. Welcome to another Market, open stream, and today we have a lot to look forward to markets, are looking green, very green and if you're in the UK, you've probably been looking for this uh.
The UK, finest finance minister or Lord chancellor, has been fired, so is that going to change anything uh? Let's discuss this. Let's discuss these things so smash up the like subscribe to the channel, and make sure you hit that notification Bell to get notified of all my streams.
Follow me on social media check out cryptosros.com and make sure you follow my other channels as well good morning. Welcome welcome! Welcome, today's looking like it's going to be a good day just like yesterday, so you know, we have three minutes until the market Bell right now. Futures Markets are pretty green, solid, green one percent, uh Dow s p and NASDAQ.
So that's pretty good. Bitcoin is still holding uh 19-7, so it looks like it wants to crack that 20 000, but, like I said yesterday, usually Bitcoin leads the way. First, then, you see a lot of alts follow and that's what we're seeing today so Ethereum is up. Ten percent xrp is up 10, so Lana's up 11 Polygons up 12 right and many others are seven. Eight nine.
So today is a good day for alts
So today is a good day for alts as Bitcoin dominance Falls a little bit, but I think the entire Market is getting ready to move and I'll explain why, but first things first out of the UK. This is big news, UK's Finance Minister quasi-cord Tang. I think that's how you say his name or AKA. Lord Chancellor was fired after morning. Chaos and tax-cutting plans.
Basically, what I've been talking about with the UK with their proposed tax cuts, although there are no plans on how to fund those tax cuts, one, including uh. One of the tax cuts includes um, getting rid of the 45 tax rule for the rich and bringing it down to 40. People didn't really did not like to hear that um, but yeah. Overall, you know. Ever since uh these tax cuts were announced.
Uh, the bond market has been, or Guild Market, I should say, has been absolutely Bonkers, which caused the Bank of England to step in and do emergency buying, which ends today. I believe they were only going to buy up to the 14th, which is today so they've been warning Pension funds, who are out of money. They basically warned them hey if you need, if you need money and you get out of the guilds, do it now, while we're still buying because afterward uh it may not be easy to sell them.
So yeah this whole thing and then, of course, the UK uh pound uh is falling against the dollar. Although it did come up a little bit from 107 down to 112 And there's the market Bell: Market Bell has been working really good these days, even though I didn't change the battery um but yeah, you guys know, what's been going on right, so a lot of people think he's just a Fall Guy.
It's really the new prime minister, Liz tross's fault, don't know if, if that's uh, if that's going to change, I think people are calling for her resignation as well um. So we will see uh, but this is the big news or to go get rid of the tax cuts completely. This whole proposal about all these, like sweeping tax cuts, they're all going to be removed. Oh, you don't know at this point. Things are very fluid right now in the UK – that's for sure um, but besides UK other countries.
You know you guys know about the Euro obviously being affected by what's going on in Europe. But I I don't think a lot of people are paying attention to the Japanese Yen, which just fell to a 32-year low against the U.S dollar. The Yen has been falling and falling and falling and falling. There's there's nothing.
That'S stopping this right now, right, um! So, there's still a lot of currencies out there that are absolutely collapsing um, and this is the reason why I think a lot of a lot of well. This is the reason why dxy is up and why the dollar is still so strong, but also why a lot of I don't know entities like the UN, like the World Bank, like the IMF, they're warning that these rates hikes from the fed from other countries.
They're hurting the global economy and the global economy can fall into recession soon, but even a Powerhouse like Japan is really really struggling right now, so uh yeah so just want to start off with those things, and that's why dxy is still High 112. Although it came off from a 113 yesterday because we had a huge Market turnaround, that is good and it's looking like it wants to continue today.
So uh we'll see yeah it's down a little bit from the future's top, but we'll see if it recovers. Now, what else is there a couple of other things uh Mark Zuckerberg announced that he missed a giant shift in social networking and he's referring to tick tock uh? He now recognizes that people don't just want to see families and videos from their friends.
They want to see it. What's trending in the world and that's what you get with Tick Tock, you just see the best and most viral content as you're flipping through and it's about everything it could be about news and sports Finance investing you know whatever and of course, comedy and dancing Girls but yeah you get it all right and now Zuck is recognizing that he missed that he's trying to change Instagram to become the next Tick.
Tock. It's fairly miserably and people on Instagram are outrage outraged by it. Um, and I don't know you know. Obviously, Facebook has reels too. I think reels is doing a little bit better than Instagram reels, I'm not quite sure, but everyone is recognizing it.
It kind of missed that and Mark just introduced a fifteen-hundred-dollar Oculus Pro, which no one is excited about. Who's gon na be spending fifteen hundred dollars on a new Oculus Pro? What would it call it? A meta, something Pro I forgot, what the name is, but anyways no one's buying it um all right now. There's some Elon news.
This morning, too, Elon is saying that hey, they can no longer pay for satellite services in Ukraine because it's causing uh, where it's costing, I should say, 80 to 100 million per month, um, so they're asking a pentagon or the US government to kind Of foot the bill uh, so hopefully they do because Ukraine, of course, has come, has become reliant on Starlink, uh, satellite and internet uh these days, because most of the country has been devastated, so they definitely need it.
But this you know this comes uh after that. That tweet, storm, or tweet battle is one of the. What is it one of the guys from Ukraine? I forgot his title, but he told Elon to f off recently, so maybe this has something to do with that too.
I I forgot what his role is he's. Oh, he was an ambassador yeah. He was an ambassador for um uh Ukraine, so he kind of forgot that Starlink belongs to Elon. I think so. I don't know if this has something to do with that, but maybe um also Twitter is spreading a lot of fun around Elon right now saying that Elon is being investigated by federal authorities over their deal and of course, this is leaked by Twitter.
Somehow Twitter doesn't want to sell anymore or do they?
Somehow Twitter doesn't want to sell anymore or do they? I don't know when Elon pulled out. He didn't want to buy Twitter suit him for it, then Elon said he wants to buy and now they're causing all this Ruckus like they don't want to sell anymore, maybe because the stock has gone up because of Elon's announcement. I don't know the guys at Twitter. They all need to be fired.
Every single board member needs to be fired. Um. I don't know what they're doing if you want to sell, sell. Elon is back, so I don't. I don't know they're just causing a lot of fun right now.
Um all right now, besides these things going on, we got a former member of the European Parliament that thinks that Bitcoin is the Ultimate Freedom. It's like a political Insurgency, uh against uh, the current Authority um. You know the current establishment, which is interesting. This is, this is the same stance that Michael sealer has right: the ultimate Freedom, uh expression of freedom, um. So to quote, governments cannot come near Bitcoin.
They cannot tell me what I can and cannot do with Bitcoin and in that sense is the ultimate Freedom. It is the ultimate Liberty, the technology has been proven to work and it's getting better. Yes, so there you go. I think everyone focuses on bitcoin as a store of value as a hedge against inflation, but very little. People concentrate on the fact that it's the most decentralized and open network that we have today where anyone in the world can send payments to anyone within seconds, especially if you use the lightning network.
If not, then, within 10 minutes uh without any middleman, you can send directly thousands and thousands of miles away from you directly with no middleman, with very little fees and no one to stop you right? It that's powerful. That in itself is worth something, and no one is even really thinking about that all right uh. What else is there well? This is showing that, of course, Bitcoin is ready to go up from stock money lizards.
You can see that yeah we're definitely in a buy Zone, and this is utilizing RSI. So any kind of these indicators, you look at macd on a monthly scale. It's turning upwards. You look at RSI from a weekly layer monthly. I mean moving averages.
This is also using the uh, the simple moving average 200 um. This is not the day the three days SMA 203-day scale, but all these indicators are showing that Bitcoin has found its bottom and it's ready to move.
So, looking forward to that, as we enter the last two months of this year, which are traditionally the most bullish months of any year for Bitcoin and for equities too um all right, and then a few other crypto news toddlers, I forgot – I totally forgot about tether. They got rid of all the commercial paper recently but they're. Also in this one trillion dollar lawsuit um, which is kind of silly, but anyways um they're, their Law, Firm Rose Friedman, I guess, was – was fired as lead counsel uh, something about crypto leaks, leaked something about Kyle, Roche and how he's unprofessional?
Something like that. I don't know so there's still the point of this: there's still controversy around tether, so let's just leave it at that. Uh binance launch is a 500 million dollar fund for bitcoin miners to help them stay in the game and a lot of them like to borrow against their Bitcoin because they want to buy more miners. That is why the hash rate and difficulty are both at all-time highs. That good uh Cardano is going to upgrade to Dallas wallet for more wallet support.
So now you can link up like Ledger directly to your Dallas wallet, so that is something that's coming up as well. So that's good is uh, that's good as well, and then this article is talking about web 3 devs more active than ever right and we're talking about all the major blockchains out there, including Cardano, including Solana, including polygon and Avalanche and Binance chain, and All these guys right what they're doing is developing and building during these rough times, and that's what we want to see.
We want to stick with these projects, are not giving up, and continue to build and build and build while things are low and then they'll reap the rewards. When we come back up all right, that is, let's see that's it. Yeah, things have gone back up again.
Dial-up 300 NASDAQ, 89 Bitcoin 1907 didn't really move much, but just a matter of time all right. Let's do some uh. Let's do some q an uh Spartan. What should I eat for breakfast? Nothing.
You should join me and Skip breakfast and just eat lunch. All right, let me scroll up good morning, everyone for everyone, that's tuning. In now, uh uh, a pirate Carmen, says it's time to strap on it's a good time. Shannon. You know it seems, like a lot of people still have uh problems.
Getting notified of my streams. I don't know I got complaints all the time if you're having problems with it, uh uh uncheck that subscribe button and then recheck it and then hit do the same thing with um. With the notification Bell did you know, dxy is 60 weighted against the Euro? Yeah yeah, I did the next one is the Japanese Yen and then the British pound. But yes, Facebook is dead.
I don't know they're, not that dead. Yet there's a lot of I find most people that use with uh Facebook are: are women um? You know moms and stuff like that still like to share photos of their kids and stuff, but it's definitely not trendy anymore. I sold my 2000 Civic SI turbo all-wheel drive for crypto twenty thousand dollars worth. Congratulations, there's one big one more than one Bitcoin.
I think that's the right move. You know that twenty thousand of crypto will soon turn into a hundred thousand and then you could upgrade to whatever car you want. You know. That's the right way to do it. You buy when things are low, your favorite Hardware wallet.
I got ta say it's Ledger. I've been using them for years. I like them a lot um, but there are many other out their new ones out there. I shouldn't I shouldn't even say new. There's been a lot of Hardware wallets um introduced over the years.
Just I haven't used a lot of them ledgers to go to one for me, when is the next Fed meeting? I I it's early November for the MC calendar. Let's take a look. The next one should be yeah early November, the first and second, so the next fomc meeting will be on the second. We got a couple of weeks and then we have one more in mid-December, Johnny, I'm joining the DCA while we're low, but I'm sure everyone is ready for some movements, thoughts well yeah.
Of course, I am too who doesn't want to see some movement right, but you know what just got ta have patience. People who hold the longest win.
Usually, that's the case unless you're holding something that's really shitty and bad, but when it comes to bitcoin and Ethereum, and all these other great crypto names of the game is to hold all and DCA and of course, we're all waiting for the next run. Do you think Alexis wallet Exodus wallet is a decent hot wallet Brent? I used to use them a lot until I was hacked due to the passer recovery to the email feature.
They had um, but I believe they got rid of it and you could hook up directly to your treasure. So I think it's pretty safe from that perspective, but the desktop wallet is pretty nice um. I upgraded last time upgrade was like six months ago and they've added swaps to it and stuff like that, although the fees are quite High, I don't know, I think it's okay. I I still much rather use the trust wallet on my phone than the Exodus wallet. Do you think a Mercedes Maybach is good, uh, it's good, but it's!
No! It's no Bentley and it's no Rolls-Royce. So if you got money to burn, go with the Rolls-Royce, Nothing Compares. What's your opinion on Vulcan Forge Sky Bridges, uh the mooch invested, I don't know Vulcan forged it's just it's kind of like Gala they're trying to be like a gaming platform, and they were hot in 2021 lost momentum. Can they come back yeah?
So I think when it comes to web 3, 0 games uh, there's a lot of game makers, but very few platform makers or just platforms. I should say gala's, one of them, which I believe in, and Vulcan Forge is a much smaller one. They could have a chance to do great things in the future. Foreign secrets, bookshelves, or bat caves in my new models, speaking of which I uploaded a video last night. put it on list because I wanted to show my wife and um and then somehow people found it.
saw people watching it. I don't know how you people find unlisted videos, but I have a couple more. That's ready for you guys for those of you guys, that's been following um. Do you think buying a car will be better again, probably not until like the second half of 2023 It is so still so difficult to find a car uh. Oh NASDAQ, turned red, that's not good.
We don't want to see NASDAQ turn red uh. Bitcoin is 196 a little down pressure, but yeah. You know it's still so hard to find any cars out there um. So that's uh, that's still gon na be an issue for quite some time. I believe xrp going to replace Swift, uh unlikely to go.
Try what kind of Tesla I drive um model X plaid, although I have not been driving it a lot recently, I did take a short trip. You know it's nice to um to uh. You know kind of use the FSD or autopilot on the highway. It's really good for that, and finding supercharger stations to stop at is relatively easy. So it's good for long road trips.
This is the worst time to buy a house or a car. I don't disagree. I think that is what is. That is the case, but it may be like that for quite a long time. I would say if you can wait another year or two probably two years do so, but if you can't um, then you just have to deal with it.
You know the good thing is: if you're selling, it's still really good, it's just buying. Not so good. Uh well, having events, be more important, less important when governments around the world adopt Bitcoin, and less important as Bitcoin gets, bigger and bigger.
These events have less and less effect, they're not going to mean much in the future right now. I think it's still like it's almost like uh, that's like almost instinct to be buying after the having event uh, it's like tradition, and it has held through many cycles right, but in the future doesn't mean anything um.
You know we already know. Bitcoin is set by code to have these events uh, we already know there's a set Supply. There are no surprises, right? So, imagine, if someone came out like an oil producer or the Saudis or whoever from the Middle East and they're like okay, you know what we're gonna run out of oil in 20 years and we'll go cut our output by half every four years. Okay and let's say they preset that and they're sticking to it and everyone is sticking to it.
Do you know how much how high oil is going to jump to the right? Just imagine if any other commodity producer announced the same kind of thing. They would be skyrocketing because you already know it's going to happen right that's the funny thing about Bitcoin.
We already know it's gon na happen. People just don't take it seriously, but they will, as it gets more and more scarce and as more and more people adopt, and one day when everyone wants a piece they'll be paying thousands for SATs not for Bitcoin they'll, be paying for SATs Alone um and just Think about how much better you'll be since you've been accumulating all this time.
Should I get my money out of Voyager or weight? I think it's too late, Craig. I I don't know if you've been out of the loop but you're not getting anything out of Voyager shipping costs fell off a cliff 47 to 1700. That's good! That's good!
Someone sent me an article yesterday about the supply chain getting much better. Now, that's what we want to see foreign flipping dot today, I I don't really have any thoughts on it. You guys know I'm a big polygon fan, I think polygon. Oh, it did flip already. I think polygon is already like e 2.
already here. Uh their new ZK zkevm is Big, and being tested right now, still a ton of nft platforms on top um still very fast. I I I'm really bullish on the polygon. They should definitely be in the top ten. For sure and they're doing pretty well right now check out hardback's shipping cost data, huge drop.
Well, I'll. Just take your word for it I mean it's, it's bound to come down right, um, here's the thing with global trade. I don't think anyone's really talking about it yet may be too soon to be calculating how global trade is affected by the USB's USD being so strong. That means As Americans we can buy a ton of stuff from other countries for much cheaper than before right, that could um, but in reverse, that means other countries can't be buying from the U.S right?
But the problem is, if you think about it: if the US now can buy large quantities of um well, actually that's good! No, no, I think it's good. We could buy larger quantities of what we used to from other countries because it's cheaper and supply chain issues have been resolved. Well, that means supplies go up and what does that mean? Prices should come down, which means inflation.
Data should go down right. So if you think about it, that's a really good thing for us, but in terms of global trade is horrible for other countries, and it's I mean our GDP is going to go down too because all we could do is buy. We can't sell. We can't make money and then well then, if you think further down this conversation um, it's not good, because the US will be in more deficit, we'll have to print more money to cover what they can't pay so that will bring inflation back up so uh yeah, A lot to think about the world economy is no position for any sort of bull market right now. Well, that is true, no doubt about it, but the U.
is in a stronger position than most countries right now, um. You know everyone turns to the dollar when there's weakness. Imagine one day when everyone turns to bitcoin when there's weakness right like maybe before when people turn to Gold when there was uncertainty or weakness. That no longer is the case, but imagine 10 years from now 20 years from now when we have another Market correction and people are turning to bitcoin. Instead, everyone is loading up and stocking up on bitcoin.
That's when Bitcoin will be like a million dollars each. No doubt about it with OPEC, cutting oil production, we're not going to have a good we're, not gon na, have propped-up dollar soon. I I saw something like that, like the Saudis, working with Russia to cut oil production and the US is really mad, so we were supposed to send more military aid to Saudi Saudi Arabia and now they're going to stop that I mean it's a very complicated situation. Right now, why is gold no longer a shelter? It used to be what changed.
People realized gold stopped moving. That's why people flock to things that still move and gold no longer moves now: gold bugs argue Wall Street, killed it with their Futures and derivative products, and stuff like that. That could be the case, but uh gold has not moved for 12 years or something like that, and because of that people are not turning to it DW. I appreciate it thanks for your support. All these years, uh is chain link still the best option for Oracle?
Yes, I mean just look at what happened to Mango Finance, recently a 100 million dollar hack um due to them using some. I don't know some homegrown Oracle setup or something like that and hackers were able to exploit it. You can't you can't do it when you have a D5 project price that price feed has to be so accurate, 100. Accurate can't be off even by a little bit, because they'll figure out how to exploit it so chain link is the one everyone uses. Well, it's on Ocean like real oceans or the projected ocean.
I don't I'm not that familiar with the projected ocean. I think they're layered they're, like a layer. One right, I think they're focused on privacy. Was this the Privacy one uh, no they're uh, uh yeah, they do have privacy feature? I remember something like that.
So there is L1 seems like L1 is for D5, specifically made for D5 uh. Damn data Marketplace. You know privacy-preserving features, okay, not too familiar with them, but relatively small, where were they before they hit 170 so they're down over 90 percent? Unfortunately Jordan. What do you mean about Voyager customers, not getting their money back?
Then they get saved by SPF, no you're, not gon na get it back. You'Re gon na get a fractional back and who knows what that really means? Um, you got ta wait for the details. The guy was asking to take out a voyager. You can't get out of Voyager that you're supposed to like create an FTX account, and I don't know how SPF is going to give people their crypto back um.
So it's not gon na be one-to-one for sure I think rumors are. This could be like 70 70 cents to a dollar, which is very, very good, but it might be lower than that. So you did that the way the details are not out yet – and I don't know when it's gon na happen anything on Bald. No, I think, they're just selling to nexo. I haven't heard much about it recently, but after nexo buys them.
I don't know. If nexo is going to give people their money back either. I think they're just buying them out and that's it. I haven't heard much about them, doesn't feel like Friday you're streaming tonight. No, I'm not streaming tonight.
I don't stream Friday nights um. I may put out another housing, video, not housing, video another house, video, another house update. So if you guys want to watch something look forward to that um yeah, I don't stream Fridays, but I got some exciting stuff for the house, so I've been creating videos for that. Another car video will be out this weekend, probably Saturday, night or Sunday. don't know I don't have any.
I didn't uh last few weekends I've been showing reruns of interviews and stuff. I haven't done any so I don't have anything like that. may work on an economy video, but I don't know if I can get one done in time: advice for growing a YouTube channel in this bear market uh. My advice is: don't talk about Finance or crypto, it'll be next to impossible to grow focus on things that people like to watch no matter what the market is. Like.
That's my advice, so it's kind of tough, but if you focus on things that people like I don't know it depends on your interests, travel, tech, tech, goodies. You know comedy, of course, cooking is a big one. Um I don't know just anything. That's like not money affected or related. Did you see a Ben Simmons airball?
In practice, I I've been giving Ben Simmons updates. So yes, yes, I have foreign. Do you think the government is going to start rationing food? I I hope not. If we have a nuclear war, then yes, if we have nukes dropping yes but uh until then, no, I don't think there will be any food rationing.
We're not that bad, right? Now, all right guys to conclude the UK fired her as their Finance Minister uh. So we'll see you know if, if things get better in the UK or they go ditch the tax plan, the tax cut plan – I should say all together or are they going to continue forward with it, don't know, but it's a step in the right direction. It sounds like in the: U S we got our own problems. We still got to worry about the Fed chair pal, but markets have reacted positively so far to the reset CPI data in a surprising move right, but ultimately Bitcoin crypto right.
Ultimately, more and more people are turning to them. Learning more about them and they will come up one day which has got to be patient. All right, guys, Smash Up the like subscribe to the channel and I'll see you guys tomorrow, I'll stream, around 11 30 tomorrow, 11 30 a.m Central Standard time. But in the meantime, uh check out my other videos and my other channels.
All right have a good one guys take care bye-bye