So seal the deal! AKA Bitcoin A lot of people finally starting to realize the faults of our current monetary policy system, getting very excited about AKA Digital Gold and right now in the short term, people particularly focusing on early 2024 and the idea that we will finally have an approved spot. Bitcoin ETF And on the regulatory front, you might have noticed that recently things have been ripping coin Mara Riot But to start the week off, at least in pre-market trading, there was quite a bit of weakness, and that was because of an unfortunate negative update from the SEC. But I want to explain all that in just one second? Bitcoin Hovers around 41,000 as memec coin orinal frenzy clogs up blockchains longs to continue to get liquidated as the price of Bitcoin and other major dizzel assets jate. it's just kind of going sideways.

To me, it's really not that surprising. We had eight weeks of green rippity skippity doodah. To the upside, the EMA cloud is still green if anything, I would argue that the rocket engines got a bit too hot and this is a reasonable pullback as long as 40,000 holds this trend line. Break out to the upside very much in play, but I Also do want to let you know just from the point of technicals, it wouldn't be the most surprising if there's a bit more of a downside because if you bring up Bitcoin Futures and you could get this most likely on whatever charting software you're on, you're going to notice there's actually a downside.

Gap Fi to 39.6 th000 and obviously quite a bit of support between 38. So in the short term I would love for it to obviously stay above 40, but also in the short to medium term, the bull case in my I guess estimation is still in play as long as bitcoin's above 38k. This really, to me, isn't embarrassing. If anything, it's just a healthy pullback.

Now, before we get into some of the nitty-gritty of the updates and all this I Have to share this with you. It's absolutely hilarious. The birth of the word Hodel Exactly 10 years ago today, the term Hodel was born in a drunken rant that turned into a rally cry for the Bitcoin Revolution And this drunken rant is better than you could have ever anticipated. I typ d that tit till twice because I knew I was wrong the first time.

Obviously the title I am hodling misspelling, switching the L and the D but it gets better still. Whatever. Girlfriends out at a lesbian bar Bitcoin crashing why am I holding I I'll tell you why. it's because I'm a bad Trader and I know I'm a bad Trader Yeah you good Traders Can spot the highs and the lows Pit Pat Piffy Wing Wong Wang Just like that and make a mill a million no bucks? Sure, no problem bro.

Likewise, the weak hands are all like oh no, it's going down I'm going to sell he he and then they're like oh God my when the smart traders who know what the they're doing buy back in. but you know what? I'm not part of that group when the traders buy back I'm already part of the wait. Where are we at when the traders buy back in? I'm already part of the market Capital So guess who? you're cheating day Traders Not me. Those taunt threads saying oh, you should have sold Yeah, yeah, no no.

I should have sold I should have sold moments before every sell and bought moments before every buy. But you know what? Not everybody is as cool as you. You only sell in a bare Market if you're a good day trader or an illusioned Noob The people in between hold in a zero sum game such as this Traders can only take your money if you sell so I've had some whiskey actually on the bottle. it's spelled whiskey, whatever to me, but only if it's payable in Bitcoin A true legend the artist The Mozart who gave us the Revolutionary Cry of Toal exactly 10 years ago.

That's the major thing I wanted to share with you just because I thought it was amazing From then till now if you did hle things were Rocky there was UPS there was downs but still generically up Bitcoin the overall market cap of BTC itself trading at 87 billion Bitcoin at risk of snapping historic winning streak but perfect storm bruise for a strong 2024. So yeah, you could have that guy's Outlook of maybe timing. Things are really difficult so it's easy just to hodal, but if you're more of an active Trader you might be paying attention to the short-term as they refer to gyration in my opinion. I agree with the drunken Ranter whose girlfriend was at a lesbian bar for whatever problem.

hey hey I ain't judging. Seems like he had quite the night, but I do hope that he hled because if he did, you know he's most likely going to be up if he got in a decade ago. In fact, I Believe in the past decade, there's only been one down year. Overall, it's clearly outpaced the likes of gold.

It's clearly outpaced the overall. Market Over the past decade, it's been a phenomenal investment. With that being said, like I just alluded to I know some of you are active Traders So I know you want me to cover some of the major happening news. Market Participants expect interest rates to fall aggressively in the US UK and Europe for the next couple of years, which is more beneficial for risky assets as money becomes cheaper.

I.E The FED fund rate, both in the US and globally start to drop. money becomes cheaper again, and typically that's when you see an inflow into quote unquote riskier assets. Bitcoin's price cooled at just below 42,000 down 4% this week, and on track to step. the first 8we streak of gain since 2017.

Yeah, we all wanted the streak to continue, but this slight pullback. It's nothing that crazy. I would actually argue that it's healthy Investors moved a net 860 million of Bitcoin to exchanges signaling profit taking. So short-term people are taking their money, but remember, more than 50% is still just being hled by people who haven't touched it in literally years.

Bitcoin to hit 75,000 in early 20124 as Us spot Bitcoin ETF Approval and having narratives combined in a recent endof year report. woo Network Targets at $775,000 price point for Bitcoin in early 2024, Bitwise has a similar price target, with the fund predicting that Bitcoin will trade above 880,000 Historically, we've covered other ones Other people calling out roughly this level, some people going as high as 100K and once again, just remind everyone this is just for 2024. Now will they be right? I Don't know. Time will tell, but there are many things going on in the fundamental backdrop that add up to obviously a successful year for crypto.

and specifically Bitcoin in 2024, what could get in the way of it? regulations and the SEC And that's a little bit of what we saw this morning. Us: C denies Coinbase's push for crypto regulations as quote unquote. Unwarranted, The US Exchange had formally petitioned the agency to start writing comprehensive crypto rules, but after quote unquote, careful consideration, the SEC said no. You would think that the regulatory body of the markets in the US in modern time would be interested in writing comprehensive rules, but their response was just nah.

I Guess they have better things to do. Coinbase has waited since 2022 for a response from the SEC on its formal petition to request tailored regulations for Crypto, even seeking to force an answer through the courts and the rejection has now arrived. The SEC says there's no interest to craft a new regime for crypto, and that it's already writing some targeted crypto rules in conducting enforcement actions under existing authorities. Though two of the five Commissioners disagreed.

So not even the Secc can get their house in order on this one, Coinbase said it will take the matter back to court. Obviously, if you're a supporter of crypto, you're hoping that Coinbase will be successful, But it just blows my mind that time and time again we're giving the ball to Gary Gesler and we're like hey man, one yard to go get it into the touchdown Zone help the world out and he somehow fumbles it time and time again. It truly blows my mind. Obviously this had a negative impact at first on the likes of Coin and then other minor such as Mara and Riot Uh, Bitcoin Fees hit 20 Monon high as minor revenues match 69,000 bitcoin price Bitcoin Miners are the main beneficiaries of current Skyhigh transaction fees according to data, but many longtime Market participants have little time for complaints.

Obviously, you feel the fomo you feel the excitement, but something special is going on right now, but just wanted to share some of that internal data. and now let's just talk about some of the other more dgen yers who have made crazy crazy money now. I have no position whatsoever in the current memes that are running and I'm talking about Bon I'm talking about Snck. All of those are running and some people are making serious money.

Bon's surge sends prices of Salana Saga phone flying to $2,000 The sealed and unopened phone boxes contain an airdrop of 30 million Bonk tokens which has seemingly revived dismal Saga sales. A dog themed meme token may have just resurrected sales of Salana Sega phone which some now selling for as much as $5,000 Jesus After earlier being deemed a failure by its makers, several Saga phones on the Online Marketplace eBay have been sold for Upward of 2,000 a piece. one phone was sold for as high as 5,000 sales of Salana Sega Phones picked up last week as some Arbitrage Traders appear to be chasing a 30 million Bonk token airdrop given to every phone. Owner of the airdrop was worth over $700 at Peak last week for a phone that only cost $5.99 So OB obviously people were playing that $100 Arbitrage opportunity.

but other Traders other I guess I have a special place in my heart for them. Other deons have taken this to the next level. Crypto Trader Turned $1,000 into 100,000 on Sana's newest meme coin Dog with hat. Like it or not, dog tokens are driving big business in the crypto markets.

Dump money is roaring back in the crypto markets with one Trader turning $100,000 into well over 100k a th000 into well over a 100,000 by betting on of all things, a token whose mascot is a dog wearing a beanie. Imagine that story as like a grandfather explaining to your grandchildren like, where' all of our money come from You're like I YOLO into a meme coin Like what's a meme coin like you just wouldn't get it synonymous Crypto Enthusiast Block Grace Told Coindesk he bought the meme coin dog with hat wif in late November shortly after it debuted on the Salana blockchain. D5 Marcus I Thought the dog with the hat was very funny. So and so I bought some he said noting that he since realized 25,000 in profits while leading the rest of his gamble ride in his wallet.

you could check the wallet out but still worth way over six figures still 100x. Mcoin trades are more luck than skill said Block Ra a part-time crypto Trader who said he works with consumer startups. he Compares it to gambling. The secret is to be an idiot I Think please write that down, that's legitimate Financial Advice: The secret to being a successful Trader I would agree is to be an idiot I should have probably sold several times, but that dog had a hat.

I Don't know what more of a fundamental thesis you need beyond the fact that the logo is a dog with a hat and that would keep me into the play now unfortunately. I never got this play at all. In fact, this is the first time I've ever heard of this particular crypto. But just to show you there, sometimes it's simply better to be lucky than skillful.

and sometimes you can get a giant Financial winfall by yoling your money into something you probably shouldn't be yoloing it into, but a truly impressive and obviously crazy story.