🚨BITCOIN'S BIG PULLBACK & SEC GARY GENSLER SUES ANOTHER CRYPTO EXCHANGE!

Welcome back to the Thinking Crypto podcast. You're home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as a thumbs up button and leave a common below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, we got to start with Bitcoin's price, because today was wild.

Bitcoin broke through sixty nine thousand dollars, hitting a new all time high, but then immediately rejecting. Right now, it's sitting at sixty three two hundred and seventy four dollars, so a nice healthy pullback, folks. This is what we've been talking about for a while. I thought that this was going to happen at fifty k, but Bitcoin went beyond many analyst projections and what

we've seen historically. It's ahead of a schedule. Usually the type of movement that Bitcoin is seeing and breaking through the all time highs happens after the having it's ahead of schedule, and that's good for the entire market. We get to make money sooner, right versus having to wait longer. So we Theorem at three five hundred and thirty dollars, BnB at three hundred and eighty eight dollars, Salona at one hundred and twenty one dollars, XRP at fifty eight

cents, Cardono at sixty seven cents, doge Coin at fourteen cents. Still in the number ninth spot. But look at this number ten. A meme coin has claimed a number ten spot, and that is shiba Enu, folks. Shiba Enu over the past seven days is up near one hundred and ninety one percent. That is wild. I mean, my goodness, I don't hold these meme coins. I got a little bit of doze, but I

don't hold any meme coins and I don't really mess with them. But if you're making money off of them, you know, more power to you. As long as you're making money. I'm happy for you, folks, because I'm here to make money. So Bitcoin, folks, is cooling down once again. This is a healthy pullback. Those of you who've been here for multiple bull market cycles, you know the deal. You've been around the block. These pullbacks to build support levels are needed so that we can go to

higher prices, because if you keep running up like this. It's not sustainable and it eventually will have its burnout moment and it's overbought scenario sooner than later. But we want to go to higher prices. We want to go to six figures one hundred k plus. So great, great that bitcoins pulling back here. I know some of my super uber bullish people are gonna say, what do you mean? It's great, folks. Like I said, I've been here, I've seen that markets have to follow principles. It doesn't matter

if you're super bullish. They have to follow principles. And you have to look at both the bullish and the bear scenario as an educated, informed investor. You cannot have tunnel vision and be biased. You have to look at what the market is telling you, What are the charges telling you, what are the fundamentals telling you? That's important. So this is very needed so that we can continue to higher prices this year. And I'm hoping and I'm

anticipating for six figures bitcoin one hundred thousand dollars plus. So we'll just have to wait and see what bitcoin does next. Here's what analyst Matthew Highland had to say about bitcoin's close today. Bitcoin Daily closes below previous Wick high, that area is now resistance that will need to be reclaimed. So Bitcoin may have to spend the next couple of weeks consolidating building the support level before it

bounces up, and that could be look the majority of March. It could be because maybe it starts to rally again as we get closer to the having which is in April. Just a thought. You know, there's no guarantees here, but we know how it has played out historically, so we can use some of that institutional knowledge, right because we've been here for a while to have an idea, a probability, a guesstimate of what it may do next. Let's take a look at the top coins that are trending on social

media. This data was updated thirty three minutes ago. It comes as no surprise Bitcoin is in the number one spot with overall positive sentiment despite the pullback. But it's of course leading because it hit an all time high and then had a pullback. But mean coins continue to pop up. Shiba Inu obviously because it's rising to number ten on the market. Capitalist is at number two,

Dent is at number three. You got here, myro I never heard of myro a dog with hat my goodness, is still trending high at number five. E cash I've never heard of that is at number seven. Taro Luna classic man, Why are people investing in this crap? Even has a positive sentiment? Please be careful, guys, the FTX, FTT token, Tara Luna. These are garbage projects that should be burned and not exist, but they somehow exist, So please be careful out there. Cronoscrothecrypto dot com

coin unification, Tata, the Tata network that is at number ten. So that's your top ten trending coins, folks, and I think some of it comes as no surprise. All right, let's jump into the news attorning John

Deeton, right, who's running against corrupt Elizabeth Warren. I've donated to John. I actually I believe John can win if he gets enough support in any enough donations. Well, Anthony Scaramucci, who I've had on the podcast many times, says he's all in on John Deaton's campaign against Senator Elizabeth Warren and plans to host a fundraiser for him in New York City. So I'm near New York City, so I will definitely try to attend that I'll share the

updates as I get them, folks. And John actually tweeted out today that he's now accepting campaign donations via cryptocurrency, so you can visit his website, John Deeton for Senate and donate to John. And he's a crypto advocate and of course a freedom fighter. He's not part of the political swamp that exists in DC. And we know Elizabeth Warren, she's one of the most corrupt politicians ever. So vote for John if you can't, support John if you

can, and let's hope he can get this victory. Now. Eleanor Tarroott

of Fox Business is reporting that a decision in the Custodia Bank versus FED Reserve case will not go to trial and as summary judgment decision should be or could be imminent, a decision on the merits will be issued forthwith. This is from Caitlin Long, So interesting, folks. This is a big one. Remember they're FED essentially just blocking Custodia Bank because they're trying to do things right and be a crypto focused bank. So we'll see how this plays out.

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Now eleanor Terroot, a Fox business, is also reporting that the SEC has initiated a cease and desist proceedings against Shapeshift, founded by Eric Vorhees. Now shape Shif is no longer active. The company closed down in twenty twenty one, but they agreed a ship. Ship agreed to pay two hundred and seventy five thousand dollars for its operation as an unregistered broker dealer between twenty fourteen and twenty twenty one. Now I understand why Eric Vorhees kind of settled this.

It's a low amount, but it also gives Gary Gainster a victory to say, ce C right, look at these guys settling. They they're not fighting back because we know the SEC is suing coinbase and Kraken and some other big players. So look, but it is what it is. This is small and they're not operating anyway. But you know, scumbag regulator Gary Gainster is

going to use anything that he can to fight the crypto industries. So interesting that the SEC's going after these guys and this thing hasn't been operational in multiple years. It's so weird. Now. Nick Garacchi wighed and he's the president

of the ETF store on the etheroremis Spot ETF, he said, the SEC is seeking public comments on various spot ether ETF filings. Really comes down to this, should approval of the spot Bitcoin ETFs equal approval of the spot etherorem ETFs, given SEC allowed it features ETFs, I say yes, but clearly key differences between bitcoin and eh which the SEC is circling in on here. So, as I've been stating for a while, the ethereum situation is much

more complex than the Bitcoin ETF situation that was more clear cut. Etherorem goes back to the bill him and J Clayton thing. Gary Genser refuses to say if Etherorem is not a security before Congress, I mean, come on, right, and Etherorem has a staking component and all these things that are going on, and there's a lot of building on Etherorem, so we'll see. I actually think the SEC should approve the theorem is pot etf. But once

again we're dealing with a scumback right later, that is Gary Genser. Now some very bullish news coming out of Germany here Deutsche Bursts. If I'm saying

that right, Exchange debuts crypto platform for institutions, the German exchange giant, Deutsche Bursts intros digital asset trading, settlements and custody services amid crypto price rally. Folks, globally, we are seeing the biggest institutions in the world, banks, stock exchanges, investment firms jumping into crypto, launching trading services, launching custody services, and they're building the on and off ramps for institutions.

Retail already has the on and off ramps. It's now time for the big money to come in. So this is why I'm so excited for this bullmarket cycle and feature bull market cycles. So dubbed the Deutscher Borse Digital Exchange DBDX, the platform is set to allow trading, settlement and custody of crypto assets while utilizing the existing connectivity to market participants. The company said Tuesday it was not clear which crypto assets the platform would support. A firm spokesperson did not

immediately returned to request for comment. While Deutsche Burse operates trading on the new exchange, its subsidiary Crypto Finance, is set to offer these settlement and custody services. Deutscher Burst acquired a majority stake in Crypto Finance in twenty twenty one. Deutscher Burst last year labeled launching a crypto platform as part of its Horizon twenty twenty six strategy. That right there tells you they have a long term

view and they are not rushing into this. They're crawling, they're walking and running, and we are in twenty twenty four. So by twenty twenty six they're looking to have a well oiled machine going. So carlow Kohlser, Deutscher Boris's head of Foreign exchange and Digital Assets, called a new platform Deutsche a

game changer for digital ecosystems. We aim to provide trusted market operations for crypto assets, ensuring transparency, security and regulatory compliance for institutional clients in Europe. He added in a statement, Folks, it's incredible. And when you think about capital flowing in around the globe into these hardcap token supplies, where you have that supply and demand economic it just not an inflationary aspect to it.

Now, don't get me wrong, some tokens do have that, but you know, let's look at some of the top ones like Bitcoin theorem, xs RP and so forth, and some have a burn rate. It gives the price of these tokens the potential for incredible increase in value because of the hardcap nature of it. And this thing is on the Internet, distributed globally, so you can be in any part of the world. I've often talked about it. Have a cell phone and you have an Internet connection, you can

participate in the as a class. You can buy a fraction. Now, these institutions and Wales, they're not going to be buying friction. They're going to be buying a ton of it. But the point is Whales and the common man can all participate and by this token, and that's incredible, and see it real time and have settlement real time. So this is why it's

so bullish. It's not like, Okay, I can invest in the Hong Kong Stock Exchange, and people in other parts of the world can invest in the New York Stock Exchange and so forth Right, there's a barrier there. With crypto, there's no barrier, folks, Global acid class and anybody can participate in any fiat currency can come on board. Whether you're in Venezuela or Turkey dealing with hyperinflation you want to move to bitcoin, or wherever you are

at Iceland, you can participate. And that's incredible. I don't think many folks understand how big that is, and especially in an inflationary fiat currency system that we live in, and when you have you know, barriers to stock markets and sometimes stock splits and all these things. Right, crypto brings that true hardcap supply with verifiability, real time settlement and much more. It's amazing. Now let's talk about NFTs, because Coachella gives NFTs a second try after

FTX integration debacle. This time around. The festival says it's partnering with a trusted, secure and safe partner in open sea. So, folks, this is a real world adoption and it's what I've been talking about for years. NFTs have to go beyond collectibles and nice artwork. Don't get me wrong, there's a market for that, but that's not a huge use case, right.

We need utility that you get this exclusive digital ownership for a ticket and event, whatever it may be. It unlocks special perks and features, and that's where the utility is now. I know some of you are going to say, dude, I don't care about NFTs. I don't own any, I don't want any. That's fine, but guess what. The blockchains that are out there, and some of you have the tokens for those set blockchains. The NFTs are minted on those blockchains, and what happens when there's building

and developing and use cases on that blockchain. It increases the value of that blockchain network, and that value trickles down to the native token which you hold. So you want NFTs to be built on the native blockchains of the tokens that you hold. So please understand that even if you don't hold the NFTs, you want the building and you want to see that, you know, the tokens you hold for the respective blockchains, that there's a building on there.

And this is a big one. Coachella is a huge, well known music festival. A lot of people attend this music festival every year. And look, at some point, I actually want to attend. You know, I love live music. You know, it depends who's playing. I don't know if I can rough it out for multiple days. It is usually in an outdoor venue spot where you know, things can get a little rough. But you know, we'll see, We'll see maybe one day. But anyway,

let me give you the details here music festival Coachella. In twenty twenty two soul NFTs that earn collectors physical art prints and photo books via a partnership with FTX. It also released a set of ten NFTs guaranteeing lifetime assets to Coachella. The ten Coachella keys sold for a collective one point four million dollars. So despite the setbacks guys from FTX and all the debacle that happened there,

Coachella is giving it a second try. So here's the interesting part, and which blockchains is it on or which blockchain the NFTs are live on the Avalanche blockchain. The native token of Avalanche is AVAX, and I hold some Avax tokens. I had recently interviewed just last month, John Wu of Ava Labs, so be sure to check out that interview. Avalanche is doing some big things. So huge adoption here for Avalanche, and this is real world

adoption. And here's an example of what perks these NFTs unlocked. The festival will be letting some fans purchase NFTs and gain access to VIP areas and exclusive merchandise. This year's rendition of the Indio, California Week of Concerts see Folks unlocks benefits and feature And the great thing as this market around NFTs evolve, people can hold on to that ticket, rent it out and earn income on

it. Let's say they can't go, but they want to keep it and they want to rent it out to somebody, and there's a secondary market, and you know, there's so many opportunities. Here is what I'm trying to say, and all of it verifiable and eliminates fraud because of the blockchain. This is the great stuff that we're seeing here, folks, So awesome, awesome stuff. Now final item here Arizona sent it advances effort to add crypto

to state retirement funds. So, my international listeners, Arizona is a state in the US. The concurrent resolution seeks to encourage pension fund managers to consider crypto in their allocations. Folks, we are going to see states and governments around the world certainly adopt crypto put it on their balance sheet. It will

start with bitcoin and then it will expand further. And I think the ETFs really open up the door for many of these local governments, federal, and you know, international governments to do this because the ETFs are being issued by trusted sources like black Rock and so forth, and have proper custody, so they wouldn't have to necessarily hold it directly on you know, and custody it and so forth. They can just go through the ETF. So it's amazing.

And in fact, the article mentions that that the portion of the portfolios to their allocating portion of the portfolios to bitcoiningts, so folks, there's gonna be a lot of buying coming. And wait till it goes beyond bitcoin. It goes to the etherorem ets and other all coins and all coin baskets.

The future is bright, you gotta be patient and exciting times ahead. Final a word to hear from our other sponsor, and that is v chain, which is one of the top enterprise grade Layer one platforms out there doing great things and Web three working with big brands like BMW, PwC, Javon, She and many other They are also working with Boston Consulting Group to build Web three and decentralized app ecosystems. So if you'd like to learn more about v

chain, please visit vchain dot org. Link will be in the description. Thank you for watching and listening, and I'll talk to you all later