Crypto Rundown: Bitcoin $500,000?! The Predictions are in As The Bitcoin Strategic Reserve Gains Momentum

CRYPTO 101

Bryce Paul & Brendan Viehman

Business, Investing

4.6 • 821 Ratings

🗓️ 18 December 2024

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

FYI: This was recorded before The Fed Rate Cut Meeting

In this episode, Brendan and Tevo discuss the latest monumental developments in the cryptocurrency market, including Bitcoin reaching new all-time highs, the implications of government relations with the crypto industry, and the potential for a Bitcoin strategic reserve bill. They analyze market trends for Bitcoin, Ethereum, and altcoins, and explore the rise of Bitcoin ETFs compared to gold. They highlight the significant role of MicroStrategy and its CEO Michael Saylor in shaping perceptions of Bitcoin, as well as the recent developments in NFTs and the cultural integration of crypto into mainstream society. The conversation concludes with reflections on the future of crypto and the potential for continued growth into 2025.

Chapters

00:00 Introduction to a Monumental Day in Crypto

02:06 Bitcoin's New All-Time Highs and Market Analysis

05:45 Ethereum and Altcoins: Resistance and Opportunities

10:04 The Shift in Government and Crypto Relations

14:05 Bitcoin Strategic Reserve Bill: A Game Changer?

18:03 The Rise of Bitcoin ETFs and Market Dynamics

19:57 Changes in SEC Leadership and Future Implications

22:37 The Political Landscape of Crypto

23:49 Momentum in the Crypto Market

24:38 Strategic Bitcoin Reserves and Price Predictions

28:53 MicroStrategy's Impact on Bitcoin

30:56 Michael Saylor's Polarizing Influence

34:05 NFTs and the Rise of Token Launches

37:00 Satoshi's Wealth and Market Perception

39:17 Cultural Integration of Crypto

42:37 Looking Ahead: The Future of Crypto

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Transcript

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0:00.0	So check those out. Some fun stuff for a fun time of year. And yeah, you may, you know,
0:05.4	crypto's been up a couple hundred percent. So maybe you can trade it for some cool merch.
0:09.9	But just too much, too much to get to. And we got to waste no time. So I'm going to hand it back
0:14.1	off to you. Bring up those charts because I believe, if I'm not mistaken, we hit a new all time high just yesterday.
0:21.4	Yeah, you got that right. We have a new all-time high for Bitcoin here. And if we go and we
0:27.9	actually take a look at this thing, that all-time high is of $108,000 for Bitcoin. This marks
0:36.3	the third consecutive day in a row where Bitcoin has been able to make new all-time highs. Starting on Sunday, it had a new all-time high of $105K. Then on Monday, we hit a new all-time high of $107.8K. Then on Tuesday, we hit a new all-time high of 108.3K on the Coinbase Exchange.
0:56.8	Now, from this, we started to see a little bit of turbulence come up over here on Bitcoin.
1:01.8	Around 10,708, that is where we saw Bitcoin.
1:06.0	See a little bit of resistance and just struggling around that area.
1:09.2	So we have a little bit of a sell off coming in today.
1:11.5	But what do you know? We're finding some support at that previous resistance zone of anywhere from
1:17.1	100 to 103K. And I think that that is the next kind of load zone for myself. And so, you know, yeah,
1:24.4	we're having a red day. We're having a pullback. We can't always be going up. We can't have, you know, a month straight of consecutive. Higher high, higher high, higher high. We're going to get these red days here and there. We've seen that, you know, happened pretty frequently over the last month or two where despite us seeing this drastic move to the upside, we do have red days that are scattered in here
1:45.0	periodically, some liquidation events. But it's from these dips that I get the most excited. And
1:52.3	you know, this is the area of opportunity down here. And this is what I'm looking at. So we're still
1:56.8	very long biased on Bitcoin here. We think that Bitcoin can go a whole lot higher in this cycle.
2:03.5	In fact, you know, maybe we're not bullish enough by saying, you know, we think Bitcoin can
2:07.3	shoot to new all-time highs of maybe 150, 175, 200K before this thing's over. And, you know,
2:15.0	we might be undershooting it with predictions like that.
2:18.4	I know TiVo, we had our end of year video with our legendary pal Bryce.
2:25.9	And, you know, me and you are coming in around, right? It's coming out next week. So,
	...

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