🚨IS THE US ELECTION STOPPING THE CRYPTO BULL RUN? (BITCOIN PULLBACK)

Tony Edward. On your way in, Please hit that subscribe button as well as the thumbsup button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review. Folks, let's talk about bitcoin, because it pulled back significantly. It went below sixty eight thousand dollars. However, when you look at the daily chart, we are still

seeing higher highs and higher lows. However, this low that it put in is dangerously close to the higher low that was set before. It hasn't broken it and it hasn't been invalidated yet, but we have to make sure that we are looking at both the bullish and the bear scenario. Now, I personally believe based on the chart movements based on what's happening with the DXY breaking down as well, that Bitcoin will continue to move upwards. But I'm also prepared for if this gets invalidated and then

we have to go back to the drawing board. Now, from a macro standpoint, when we're looking at the let's say six months or yearly perspective, we are still on track in this bull market. There hasn't been any major invalidation, and as we've been seeing, Bitcoin has been crawling its way out of this accumulation zone and it, of course last week touched seventy three thousand dollars and that's a very good sign. So it's knocking at the door to break out of that all time high set earlier this

year and then enter into price discovery. Now, of course, we can't really look at all coins. We have to look at Bitcoin. It's the measuring stick that we have to use, because the liquidity generally enters Bitcoin and then it flows down to the all coins. That's not to say liquidity can come in directly to some all coins. We've seen that like and Swie and so forth. But generally for the entire crypto market to move, we need Bitcoin to have that strength and to bring in a

ton of liquidity. So we have to pay attention closely to the charts over the next week or so because the election, as I've been telling you guys, is causing a lot of uncertainty and you're going to see a lot of volatility. And this is true for all markets, it's not just true for crypto. So once the election's out of the way, we're going to see less volatility in the market and people can start focusing in markets versus politics and the election and so forth. Here's what

different analysts are saying. When analysts said the following, don't panic. This can be nothing but a casual bullish retest of its two hundred and thirty days diagonal resistance. Speaking of bitcoin, and if you look at the chart here that they provided, you can see it is within the trend lines and the structure here. So the analyst said, if this holds, we can get continuation. If it fails, sixty four K and sixty K are he says, personally, I bet on

bullish continuation. I'm of the same mindset, not because I'm biased, but because of the technicals and the charts and what the macro's doing and what we've seen historically from a seasonal standpoint, but once again, there is a bearish case that if this fails, it could trigger a series of other events and we have to go back to the drawing board. So we want to keep it balanced now.

Even before bitcoin broke down here, crypto Wizard had shared a chart on October twenty ninth highlighting that this was going to be a normal move for bitcoin. It would pull back to about sixty a K because it made a huge move up to seventy three K, and he had said at that point the descending channel in bitcoin has been broken out after eight months. A breakout above seventy two K opens the door to a new all time high to eighty two K, and he highlighted here

a rtest of that support level. So this was something that was not off the table or out of the conversation here. It was a possible snare. It didn't mean it had to happen, but we're talking probability here now. Crypto Wizard also shared a macro chart here zooming out showing the different market cycles and their relation to the elections, So showing where we're at here for the twenty twenty four elections, showing where we're we were at in twenty

twenty for that election. In twenty sixteen as well, and you can see bitcoin had not really put in any major gains, mostly retracing to its prior all time highs. That's pretty much where we're at, So we need this election out of the way. I know, I keep repeating myself, but we've seen this before. This is not unusual, and the only thing that's a little bit different is that Bitcoin hitting new all time high before the having at the beginning of this year, so it put us ahead

of schedule. But this slowdown and boring zone and accumulation zone is putting us back on tracks. So once again, no major invalidation of the bull market. I'm here to make money, so I don't have time to play games, don't I'm not here to lie to you guys to get views or whatever it is. I want Bitcoin to go to one hundred and fifty K and now it will be game change, not only because I hold Bitcoin, but for all coins. So I'm in the same boat

as you guys. I know it can be frustrating, I know it can be painful, but this is where patience is so important in investing Now. Jason Pisino, who's a great analyst guy, so I highly recommend you follow him. He's on Twitter, but he's also on YouTube. I listen to a lot of his content. He said, the US Election twenty twenty four update. It doesn't look like this US election will be a clear Trump win, which the markets US stock markets and bitcoin have been preparing for

over the last week or so. We know this election has been quite tight. Guys, some of the polling and so forth show this. Now I'm gonna get a lot of comments. People are going to say, you're an idiot. Trump is clearly winning. Right. People are in their own bubbles and they only want to hear things that validate their bias. The point is, until election day the results are in, we don't know. It is not that clear. It's very tight. And I'm not saying Harris is gonna win.

Maybe Trump wins, but the point is we don't know, and we have to wait for the results, and we're not here to invest with our emotions. And yet emotional and worked up and triggered, Let's look at the data and let's look at what's happening. So Jason continues. He says, If Harris wins, the markets will likely freak out in the direction of the current trend down. However, they'll eventually realize that the massive amount of stimulus money coming will

pump the markets once again. And this here, folks, what Jason is saying is the macro factors. People get so caught up in narratives and so forth, but at the end of the day, bitcoin is not correlated to Trump. Bitcoin is not correlated to Republican or Democrat. Bitcoin has pumped under Obama, Trump, Biden, so on and so forth.

It doesn't care who the president is. What it's correlated to is global liquidity and the money printer, folks, where the money printer feeds global liquidity, the Fiat system we live in. They will go back to printing money. I've been telling you guys for a year now. They cut rates, they go back to It's a process. It doesn't happen overnight,

and that's what drives markets. Yes, there are other factors going to drive the evaluation and demand for stocks and different things, because companies have great earnings, new technology, YadA, YadA. But at the end of the day, the main factor is the denominator, the US dollar, which they continue to debase and continue to print more of and guess what they're going to continue doing, folks, as they cut rates

and keep raising the debt ceiling, print money. So Jason is saying, in the short term, you may see some downside pressure because there's this narrative out there that Trump is going to be better for a bitcoin and crypto and so forth. But at the end of the day, bitcoin and crypto will continue to move because it is correlated to the money printing. So watch the M two money supply from the fat watch global liquidity. That's what

I'm looking at now. As I've said many times, Trump would I think be better for crypto businesses from a clarity standpoint, But asset prices are not dependent on Trump. So if you are running with that narrative, you're missing the mark. You're not looking at data. You're looking at your feelings, your emotions, your bias, your political bias, and so forth. And both Democrats and Republicans print money. That's this fiat system we live in. So Jason continues saying,

so expect volatility while swings would upside to resume. He says, if Harris wins, dump a little ranged and Pump. If Trump wins, probably Pump then pump more. Both are still bullish medium to long term. Both have the same endgame, just a different path to get there. So this is one people who study data and analytics and stats are looking at, not their emotions, but what the correlation is for these asset prices. He says, overall, my analysis has

not indicated any change in the cycle. Therefore, I expect higher prices with more volatility as it is the winner's curse phase of the eighteen year cycle, something I've been covering for many months now. I'll be sure to check out his channel, guys. He covers a lot of stuff, and once again, this is not emotional, This is not politics. This is markets and liquidity and what the FET is doing and what other central banks around the world are doing.

So please understand me. I'm not trying to say don't go vote for the candidate you love or you want to vote for, because there's many other issues to vote on, But when it comes to things like asset prices and markets, there are true fundamentals that you need to pay attention to and understand how they work. So I'm in full agreement with what Jason's saying here now, guys, quick word from our sponsor and that it's v chain. V chain is one of the top layer one smart contract platforms.

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more about v chain, go to vchain dot org. Now, on the topic of politics, Vivek Ramaswami's Strive launches a wealth management arm to bring bitcoin to standard portfolios. Now we know Vivec understands crypto, we know Trump is procrypto, and much more, JD. Vans and all these guys understand it. We're seeing a lot of trad fi folks are now launching an armed to investing crypto, building with crypto and

much more so. Strive Enterprises, an ascid manager co founded by former presidential candidate and current Trump surrogate Vivek Ramaswami announced the creation of its wealth management business. The business aims to integrate bitcoin into standard portfolios of everyday Americans and launches amid a corporate move and the closure of a thirty million dollar investment round. Everybody is coming for crypto. They want it, and they're creating financial products, they're building

with it and much more. It's pretty incredible. Now check this out. US governments seeks to return thirteen million dollars in political donations from former FTX executives. This is interesting. The US government has been given more time to negotiate with certain political action groups over the return of up to thirteen point twenty five million dollars in donations made in the names of former FTX executive Sam Beck, Merfried

and Nishad Singh. A recent filing shows the political groups in question are mostly Democrat aligned and include Senate Majority PACK, Emily's List, Slash Women Vote, and The Future for Pack, which received six million dollars. Singh was recently sentenced to time serve and three years of supervised release, allowing the former FTX engineering director to avoid prison time. So we're

seeing some clawback here of those political donations. And this was a topic I remember speaking to Anthony Scaramucci about when I did an interview with him, and it's fascinating. Let's see how much more they pulled back. And remember Maxine Waters was hugging up SBF, blowing him kisses, stuff

like that, because he was doing big donations to the Democrats. Now, don't get me wrong, he also donated to Republicans, but a majority of his donations were to the Democrats, and that's probably because Biden and the Democrats were in office around the time when he was making his rounds in Washington, d C. But of course he was committing epic fraud, stealing people's funds and much more, and he was meeting with the SEC and Gary Gins and they did nothing

to stop all this nonsense. But thank goodness, we're seeing some resolution here. The bankruptcy proceedings are happening where people would get back some money. And SBF is in jail, all of his partners in crime, Caroline and all these folks in jail. So the nature is healing folks now. Apparently, there were some rumors that Tether was launching its own blockchain, and tethers CEO Paolo Arduino cleared up the rumors, saying,

I hear again few rumors about a Tether chain. Tether is not planning to build an official blockchain at this time, simply different independent Eltime two solutions are working to support USDT for gas V. So I don't know who started the rumor, but they're trying to say Teller was going to launch its own blockchain or whatever it is, but they said clearly they're not doing that. So that's a news. Folks. Let me know what you think about the election and

the markets and what's happening with Big One. I think expect a lot of volatility as we head into tomorrow, Monday, and of course Tuesday, and look, it's kind of like the Fed meeting weeks where you have a ton of volatility that we could probably see a lot of that this week, so you kind of have to let the dust settle and go into the following week. I've seen

that historically with markets. You can't judge it the week of there's just so much going on, So just be mentally prepared that you're going to probably see some wild swings maybe you know, maybe I don't want to say that's a guarantee, but be mentally prepared as an inform educated investor, right, you want to be prepared for all these things so you're not rocking in the sea of

volatility like a ship without an anchor. So I hope you guys understand what I'm saying here, and I'm saying to some experience, because I've been through all of that and I had to learn my lessons and not be not moved by my emotions and what the markets are doing. But look at the macro, look at the charts, look at the technicals, and what story and even on chain data that we have encrypt what story is that telling me? So let me know what you guys Thinkly for your

thoughts comments below. A great way to support me in the podcast, guys, is to sign up for my free email newsletter on substack. It's one hundred percent free. Also, grab a copy of my book, Rethinking Crypto. It's available on Amazon and paperback in digital. Buy a copy for yourself, Buy a few copies for your friends and family, give them as gifts this holiday. Help them to learn about this technology NASCID class and if you bought a copy ready,

please leave a five star rating and review. It will really help me out thank you so much. I appreciate you all, and I'll talk to you all later. Tasty stuff, Stan