Hey yo, what’s the cure, with my crew, the Chico Jarheads & if you're new, wanna join
us, take the first step, and subbing….
dropping your title of viewer of the tube.
My name is Tyler, and in my army, the soldiers are pampered, just like this kitkat.
Wayne get’s that everyday...You know our Kittycure, it’s time for Chico Crypto!
Well, BTC decided to break 16k yesterday...and pulling out the chart since this bullish runup,
you can see this level, near the top of the 15 to 16k range has been tough to break, 3
attempts prior to this one, so if today we are still above, or further into the 16k to
17k range….a very bullish sign.
Now, I want to pull out this chart over since October 10th...as you can see, we hung in
the 11k to 12k range for some time last month, but then we blasted through 12k to 13k, spending
not even 48 hours in that range.
Now we have spent a good amount of time, up to November 4th in the 13k to 14k range, but
then we blasted through 14k to 15k in less than 24 hours.
And since, we have spent the last week in the 15k to 16k range, a good amount of time.
Patterns, if you don’t see it.
Hang in a range, blast through the next, hang in a range, ...so is this 16k to 17k range,
going to be a blast through??
Well, to get through these critical ranges BTC is going to need a little thing called
FOMO to help push it through.
Earlier in the week, we covered enterprise FOMO, being moved swiftly along through corporate
game theory.
So today, we are going to look into the retail side of things, the general public and their
FOMO aka fear of missing out.
Now, I like to pull out the price chart 2 weeks into September to today, and compare
it with google trends search term for bitcoin with that date range.
They look really similar huh?
But as we can see, the price was pretty boring in the 10k to 12k range, which BTC had visited
multiple times in the past.
Interest didn’t budge on google trends.
It wasn’t until we got to unknown price territories, like 13k that interest in bitcoin
started to move...price ranges where bitcoin hasn’t spent much time in…
But still, pulling out the interest chart, BTC is nowhere near interest back in 2017,
and the price is only 4k away from the 2017 price peak of 20k.
What is going on??
Well, you gotta look back and understand that interest won’t get to that level, until
the price is far beyond 20k.
Per example….in 2014, BTC hit a peak of nearly 1.2k and didn’t recross it’s prior
cycle peak until early 2017, January through february.
I wonder if interest peaked higher when it cracked it’s old all time high...no it sure
didn’t.
The price will have to raise past 20k, the last cycle peak, and far past it... if interest
is to move to heights seen back then.
So who could do that?
What could do that?
How could get interest in Bitcoin and crypto pread to large numbers of people organically??
It’s called large subreddits, in finance 1.0, who consider themselves just investors,
so bitcoin is an asset, and they aren’t against investing in it.
So, a highly controversial topic that made it near the top of r/investing yesterday...the
question How many of you see Bitcoin surpassing gold as the ultimate safe haven asset in the
far future?
Only 9 upvotes, but 145 comments, the most of any post.
The person’s post was highly bullish, saying it’s the future, and will outpace gold.
Although the number 1 comments was this: You only ever see interest in BTC when stocks
are going up and BTC suddenly spikes up as a result.
Threads like this never pop out when crypto prices drop.
It will forever be a pump based asset that relies on human greed rather than safe haven.
Ouch!!! but the top voted reply to that was this: For a lot of people Bitcoin has outperformed
most things over the last 10 years.
Which that is not a lie, BTC is the best performing asset over the past 10 years across the board.
Nothing beats it….
That’s why that reply was upvoted so heavily, there are people within r/investing who are
holders, they are just quiet now, only using the up button to speak as they do actually
speak they will be brigaded by those who hate..
But the silent holders won’t be silent for long, I’ll tell you that.
For them to speak up, all it will take is a crack of 20k.
And they will be shouting.
Then it will spread from r-investing virgins to those who have been holding out a little
longer.
The r-wallst bets degens.
There will be a top post about BTC on wall st. bets, because wall st. is becoming bitcoin...remember
corporate game theory?
Just wait...it can happen.
And access to the crypto markets, couldn’t be easier.
Yesterday, Paypal removed the waitlist, and now all US Users can access their crypto markets,
which includes buying, selling and hodling.
The Bullish stars are aligning for a Retail FOMO cycle, which could even have your grandfather
saying, Hey I picked up some BTC!
A little Chico trivia, my grandfather lent me the money for my 1st Bitcoin investment
back in 2013, thanks Gramps, I love ya, that’s him pampering wayne.
But there is more that happened for BITCOIN and the crypto markets, which can be seen
as pretty dang bullish, Brian Brooks got in front of the Senate, specifically the: COMMITTEE
ON BANKING, HOUSING, AND URBAN AFFAIRS, and he spoke on crypto.
The full statement is online, but we will dig into the juicy stuff.
He said nearly 60 million Americans own some type of crypto, it’s market cap & stated
“These figures clearly illustrate that this payment mechanism is now firmly entrenched
in the financial mainstream”
But above this, crypto wasn’t specifically mentioned, but the National banking charter
was, which we know what that is, it’s allowing fintech companies, including crypto based,
like Coinbase to obtain a national banking charter.
He explains how New York was blocking it, stopping it in court, and the OCC appealing
their decision, and below he said “The OCC’s brief in the case was filed on April 23, 2020.
I expect the litigation to be favorably resolved so that this charter option will remain available
to companies engaged in any combination of the widely recognized core functions of banking.
So Brian, he expects them to win, and this charter option to be available to entities
like Coinbase...as this was in the plan all along.
Remember me friends, Coinbase back in May of 2018...they spoke to the “regulators”,
about obtaining this type of license.
Cointelegraph covered it, and that specific regulator as seen from the article was the
Office of the comptroller.
So, the OCC & Coinbase they “talked” with Brian still on the team of Coinbase.
The OCC is run by the treasury, which is led by steve mnuchin snooch the booch….Bong...but
ya, he is best friends with Brian, they worked together in the past...so something was in
the works, the plan, and now Brian is the head of the OCC, and really pushing for it
confident it will get through the courts.
So what is “the” plan Tyler?
Well they are looking to pull off one of the biggest IPOs of this century, the Coinbase
IPO, initial public offering.
Remember that news?
I’m sure you’ve forgotten about the rumors circulating that Coinbase was going to do
one.
Techcrunch covered it in July, with the title “Coinbase reported to consider late 2020,
early 2021 public debut”...and they would be going the unorthodox route of a possible
direct listing.
Well we haven’t heard much about it, and that’s because they are waiting, for the
litigation to be favorably resolved, and Coinbase has a path to that National Banking charter
So, just imagine this, it’s the end of 2020, just crossing into 2021...bitcoin is finally
pushing through the elusive 20k all time high, the OCC get’s their favorable decision,
it’s announced...weeks later, Coinbase announces they be one of the first to obtain it, and
then weeks to a month later, the announcement of the Coinbase IPO?
Those are all extremely bullish, headline events, that will be exaggerated by the moving
prices...retail FOMO, could go into overdrive.
Cheers I’ll see you next time!