Bitcoin not always perfectly going up. This might be a little frustrating to some of you, but I don't think it's going to be a surprise to you guys. It put in eight green weeks in a row, Crypto's been on a tear. so the fact that we're having a little bit of a pullback right now I Want to explain why I don't really think that that's the biggest problem ever and I also want to go over some random meme coins that are taking off.

We have a new third place meme coin and some other interesting news. but I get it? Hey, maybe the Fomo taking a little bit bit of a hit, but if anything I would argue that this is a healthy consolidation. A bit of a healthy pullback obviously Michael sailor Uh, talking about soon and up with Bitcoin Um I don't know where he's getting all these AI generated models, but hey, I do like them. So here's the big news: Bitcoin Ether and major all coins in deep red.

Now to show you what deep red means in their book, it's not that deep I mean look it. Bitcoin Went from 27 to 44 45k pulling back to 42 and everyone's running around like the chicken with their head cut off. doesn't really make the most sense to me. But yes, in the short term, a bit of a hit.

This is why people talk about DCA all the time. Dollar cost average I'm not the biggest active crypto Trader If anything I'm an investor and I understand that things like this are going to happen. Not everything's going to be perfect. Not everything's going to be horrible.

It's going to be much more of a mixed bag type of a scenario. So if I saw things like this and I was looking for those times to buy I Personally think it's better to buy into weakness rather into strength because it in apparently just lowers your risk. So I want to keep everyone like I Guess a little bit of reality here I Don't think we should be freaking out when it goes up. I Don't think we should be freaking out.

We should go down. Let's do our best to just be a little bit more quantitative. Bitcoin Still holding over 800 billion in market cap. Was it a bit higher a couple days ago? Of course it was, but obviously you're going to get this natural EB and flow cycle.

um I do want to bring up here: what's on the screen is actually not Bitcoin this is Bitcoin Futures uh listed by the CME and and you can see that there's a gap. So this is kind of an interesting support to me for those of you who are just like you want the support levels of what might react. So 40,000 key technical level, key psychological level and we just have this nice Gap fill Downside: Gap fill at 39,6 40 so something I'm very very much paying attention to. So for those of you who are more technicals charting yeah, like obviously daily weekly view still pointing to the upside I Guess my main message here is like I wouldn't freak out if anything we were cooking on the top side of the McLoud the Binger bands the Kelner Channel no matter what key technical indicator you're looking at, you would be saying oh wow, that really moved it moved quite a bit.

when is the reasonable healthy pullback? And to me, that's what we're kind of seeing now. Bitcoin's 2023 rally phras during brief 7.5% drop toward 40,000 So in the very short term, some of the over leverage Bulls definitely got liquidated Bitcoin posted its steepest drop in almost 4 months as Traders moved to lock in profits following a more than 150% rally this year triggering large liquidations of bullish bets. So a lot more of this argument of wow, it moved a lot very quickly. people locking in some of those Gams I'm not really part of that.

that's to me. like I said is a bit more active trading, but hey, I kind of understand what's going on. Maybe it's a tax thing we are coming to the end of the year but I guess when I consider what's going on in the world of crypto, it's It's much more of a longer term Now if you're an active Trader especially if you're a profitable one. Congrat rations to you.

stick at doing what you're currently doing. For me, it's just not really my base thesis. Market Leverage has risen materially. The current fall looks like a market deleveraging as opposed to any fundamental news.

Catalyst Yes, people are still very stoked in early 24 that we have a spot Bitcoin ETF opposed to the Futures ETF I just showed you um and we've talked about that almost at nauseum of just better regulations and also just clear highway onramp for big money. Also retirement money to get into the world of crypto if they so choose Now this upcoming week we've RI Rip Rip! Why is this the potential week? That little bit shaky has a lot to do with the major reports coming out this week. We hear from the Fed, the people who set our monetary policy right now. The big assumption is we've hit a terminal rate as in the FED fund rate will not go up any higher, which obviously that's important because has the trickle down effect of impacting what's going on in the world of mortgages, what's going on with credit card, interest payments, federal student loans, and the list goes on and on and on.

But anyway, people maybe don't want to take on the risk of the Federal Reserve led by Jerome pal, you know Mr Money Perter Gob being overly dubish hawkish. Maybe they just don't want to take that flip of the coin to Arrow So they're just saying hey, I'm happy with my profit and they could always come back later. Obviously if they so choose, it makes sense to see some profit taking. He expects Falls toward the 37.5 to 40,000 range to be well supported by Dip buyers.

I'm pointing out obviously that downside gfell just below 40 40,000 itself. Key technical level: Psychological I Think the high 30s could happen just. and that's not anything negative about Bitcoin or Crypto as a whole. it's just the fact that we've moved so far so fast.

A quote unquote less hawkish message from the FED would likely cause a retest of Bitcoin's recent High to 45,000 For those of you who are like I've heard these terms, but maybe just need a quick refresher, Hawkish means that the FED is actively pushing down on the demand of the economy. and they do that when they're fighting inflation. And in case you haven't been to the grocery Shore lately. Yes, no inflation is still very much here.

A lot of people. it's their bane of their financial existence. So If The Fed is saying ah, we get that things are tough right now, but we're still worried about inflation. They might be coming off as a bit more hawkish than the market anticipates.

So uh, something to pay attention to. Hawkish doish could be positive, could be negative. and that's why we should all be paying attention this. Wednesday when we hear the results from the Fomc meeting Darwinism could soon Pummel some Bitcoin miners as to having a once every fouryear event that cuts the reward for creating new BTC gets cut by 50% Unleashes is a quote unquote Survival of the Fittest battle this April Once again, that's an estimate.

it's not technically every 4 years, it's every 220,000 blocks I believe is the number So and that just seems to happen every four years. to prepare for the disruptive event, larger companies are securing newer and more efficient mining machines, but they might also consider gobbling up smaller miners as they figure out how to both survive and benefit from the Hamming This type of business development. This type of business pathway is very, very common and we've seen it in many different industries. Of you have a new budding industry and as it grows all of a sudden it gets Consolidated to a few large players just guest Marathon Digital AKA Mara The largest publicly traded Minor by Hashr The Firm Said this week that it's got a horde of money more than 800 million of cash in Bitcoin and will seek to grow that to capitalize on strategic opportunities including industry consolidation ahead of having which is the very fancy business.

PR Way of saying yeah, no, we're going to buy out the smaller guys to kind kind of insulate our foundation within the industry. Meanwhile, another large Meer Hut 8 Picker symbol Hut just completed its all stock merger with a privately held Us. Bitcoin Uh, Clean Spark Clsk has been collecting cheap assets since the start of the bare market and said it has almost 170 million stored up to quotequote take advantage of opportunities the having may present and Riot Platform Rot another institutional grade minor has just ordered 66.5 th000 new mining machines for 2905 million to stay ahead of the competition. This all sums up to what I think is a really good way to like explain the whole situation.

The scene is set for a dog eat dog competition. This happens all the time. within business. That happens all the time within.

Wall Street And now it's about to play out in the world of crypto mining. So yes, bullish in the long run on crypto itself. Am I bullish in the long run on all these miners. No, because some of them are not going to make the cut, some of them are not going to be able to survive the jump of the next.

Havoc You like just to be blatantly honest? Uh, so with that like I said I think the best I Guess way I really perceive the situation is there's going to be a direct correlation with the winning crypto miners. Some of them are not going to win out and they're either going to get gobbled up or they're going to disappear. So be careful if you're in this. Yes, you can make money if you're in the right one.

You can also lose money if you're in the wrong one. So for me I like to play I guess a quote unquote. Easier game of just doing the analysis of where crypto is going rather than where is crypto going and then on top of that, where's the crypto business going So if you're in it? I Just recommend. Caution: Yes, she can make a lot of money.

Yes, she can lose a lot of money. but I Just wanted to talk about this just in case people are trying to make decisions before the end of the year or also especially before the next having event. Um I think the Bigg are going to get bigger I think the big are going to end up winning out but I still think the thing that really is running this entire show is obviously going to be Bitcoin And obviously I'm saying this a little bit of a tongue and Chic but will it always remain as the number one crypto option Salana meme coin Bon flips Pepe following a 370% monthly gain. so this is now the number three based on market cap meme coin we have Doge Shivba and then obviously Bon or no, no actually flip because Pepe was up there.

it's just getting crazy and it's meme. Um, how have meme coins in the past gone? Well it? It's kind of just like rug scenario so this is much more of like I Guess if you are engaging it, please be careful. It is just degenerate gambling and you can make a lot of money degenerately gambling but just have a little bit of caution. nothing.

I would definitely ever dime in Hand by any means, but something that if you have a little bit of just fun money, disposable income, keep your risk in check. I Just wouldn't be going too nuts with it. A salana based dog theme meme coin Bonk has now become the third largest meme coin by market cap. Um, and obviously just recently L passing Pepe Bon's recent growth 370% in the last month has seen its market cap grow to 762 million almost a billion dollar compared with Pep's current 675 million.

So obviously this one's taking off because Salon itself has been taking off. Um, so obviously there's going to be direct correlation right there. while a lot of these previous existing meme coins are not built on salana, So with Solana's growth which has been ripping, we're seeing bombed I have no skin in the game on this one. I Just want to report on it because I do think it's absolutely hilarious.

but obviously this isn't something that I'd be betting the farm. M So right now, in a general sense, crypto taking a bit of a breather If you ask me, The question isn't really why, oh why is it coming down. it's more of how did it go so far so fast without a breather? If anything, to me, this is just a healthy check. doesn't really distort anything in my long-term analysis of It and I think the new year is going to be exciting between the spot Bitcoin ETF What's going on with the having and then also as you can see, we just have crazy things going in on in other worlds of crypto.

So whatever you're doing, best of luck I hope you crush it.