So what I want to get into is first of all, we have some big big big updates for the Bitcoin spot. ETF I Also want to get into in the short term, maybe short to medium term? How we actually have a nice bullish breakout? Yes, we're also going to be getting into Salana and Avalanche And then we're also going to be talking about some short-term technicals Catch The Wave According to Michael Sailor and you know who someone that is currently catching the sizable upwave in B is this player. Some random person out there accumulated 1 billion I'm not saying million I'm saying billion1 billion dollar worth of bitcoin in the past month. That is ridiculous.

If I had to guess, this is some large, large player with many billions in assets under management. I If I had a guess, it's probably a big player who is prepping for their spot. Bitcoin ETF Inherently have to own a bunch to be able to pull it off, but that is a lot and lot. A lot of purchasing SEC will improve multiple Bitcoin ETFs at once according to Van e CEO So that's exciting, but it gets even more exciting just in Kathy Woods Arc Just had its spot Bitcoin ETF listed on the Dtcc, the depository trust clearing.

Corp That's the thing in the middle of all brokerages where they do the net buying and net selling using the ticker. AR KB So that's one of the companies and there's about a dozen who's interested in trying to pull this off. But more important than that is what just found out about Black Rock Black Rock revises Spot Bitcoin ETF proposal ahead of rumored SEC approvals black. Rock's ETF proposal now includes cash redemptions a concession to the SEC.

They may improve the funds approval odds, so what does that mean? Eric We actually interviewed him previously on the channel. he's a great guy. he's an expert on ETFs Here's what you need to know. So there was an updated S1 Amendment and that was from Black Rock Eric Quote tweeted it saying Black Rock has gone cash only.

That's basically a wrap debate over in kind. will'll have to wait. It's all about getting ducks in a row before the holidays. good sign.

So I was a little bit confused on exactly what he did or didn't mean and why this would be bullish for Bitcoin especially bullish for the opportunity of a spot Bitcoin ETF And then he further explained it. Uh, someone asked I'm assuming that this means they take in cash and do a Bitcoin swap to gain exposure. Is this your view? yes, taking cash, then Bitcoin to create new shares and vice versa Basically can't hand in Bitcoin in exchange for ETF shares like in most ETFs So once again, this all seems to be increasing the odds of a spot. Bitcoin ETF in the near- term and as soon as one of these companies figures out the secret code to kind of crack why the SEC is saying no and no and no, obviously it'll all be public and then all these other companies about a dozen who are interested in having Spot Bitcoin ETF will most likely rapidly follow.

But once again, updates from Arc from Black Rock Really the the whole Spot Bitcoin ETF Narrative as a whole, it's looking good and obviously if you want to know more about it, check out what Eric has been saying. Obviously he is an expert on the matter. another reason people have been very excited. So it's not just the spot Bitcoin ETF it's some commentary from the CEO of Grayscale.

He was doing his media rounds yesterday and he was kind of pointing out how as soon as this is approved, it means that it's opening up about 30 trillion. I'm not saying million I'm not saying billion this time. I'm trillion opening up $30 trillion of potential investment, which obviously represents a lot. A lot.

A lot of demand this year? Sure, sure. well you know. Joe I'm not one to make price predictions, but I do think there is a lot of optimism again in the market. I think a lot of investors are adding Bitcoin to their portfolios and when we look ahead to the hopeful approval for Spot Bitcoin ETFs it really is going to unlock the opportunity to a part of the investment community that for better, worse.

but I would say For Worse has unfortunately been locked out of the opportunity to participate in having Bitcoin exposure in their portfolios. So we're really talking about the advised Market here in the US which is today about $30 trillion worth of advised wealth. Um, that we hope the approval of Spot Bitcoin ETFs the uplisting of Gbtc will allow for that opportunity and for those investors to partake in it as well. There's a limited amount of supply of Bitcoin 21 million at Max theoretical in existence.

it's going to be less than that Supply constant as demand goes up as there's more access for people who don't want to really figure out their own wallets or create a whole new account if they really just want to tell their adviser to get it for them upon spot. Bitcoin ETF approval That opens the that door there. so we don't know exactly the level. Yes, there's interesting predictions of how much we actually flow in, but the point is, is the supply steady demand increases.

which means price has to follow. Obviously, in terms of prediction in the shortterm, medium-term long-term all a bit difficult cuz you don't exactly know how much demand's going to be there. I Wholeheartedly think we're easily going to at some point in the future be above six figures for Bitcoin itself and the reasoning is pretty much this: as demand goes up, price is going to go up. that will most likely be spurred by Spot Bitcoin ETF approval from there I Think there's going to be fomo of people seeing it go up they want to chase in and I think that could actually squeeze out the shorts and then also I think more and more people are learning about monetary policy and as the FED fund rate comes down.

which the prediction is that to be cut in 2024? well as that doesn't have such a nice interest bearing nature to it. I think money is going to flow into things that are perceived to have a higher yield such as gold and also digital. C AKA Bitcoin Speaking of which, in the short term looks like we have a nice technical breakout. This is the daily chart of Bitcoin and I Just want to let you know at the point that we're talking about it.

obviously trading at 42.5 th000 which means that has a market cap of 831 32 billion but from a technical perspective over the past 8 to 9 weeks Bitcoin has been ripping ripping ripping, higher highs, higher lows and then recently a bit of a consolidation lower highs, higher lows. I've been tracking this trend line and as of Tuesday December 19th we got a push and close above and we're currently trading above it. So for the active Traders out there just want to let you know I'm not really the biggest crypto active Trader myself I have it I like to invest in it once in a while try to do some D gen stuff but I just find it's easier to just hodle in Hodal and Hodal. But basically I'm looking for this trend line breakout to hold and obviously this whole structure would be invalidated if Bitcoin on the daily chart gets below and closes below 40,000 so looks like from a technical perspective a nice pennant breakout and obviously the measured move could potentially be all the way up to 45,000 I have resistance at 48 and then obviously 50k is a key Technical and psychological level.

With all that being said, Bitcoin isn't the only one that's having a nice push right now. For example, this is on coind Des Salana and Avalanche Mcoin fever continues as Bitcoin nears 43,000 Traders Have increasingly favored these networks over Ethereum for their lower transaction fees and faster speeds. so that's just the news on it. But interestingly, from just a charting perspective, look how strong Salana has been from October until now it is up a blistering 2 169% and then if you look at Avalanche Also let's just run it from that same time period it ISR currently up 332.

So yes, I am a huge huge fan of Bitcoin But I also want to make it clear in terms of trading investing recently, there's been a lot of big moves making a lot of people a lot of money so no shade to them whatsoever. that's why I want to cover it but salana ripping and then obviously from there you're going to have some of their meme ones such as: Bon you have cardono recently ripping. it's meme is snck Uh, you have Avalanche ripping You have ethereum ripping. you have Bitcoin ripping.

It feels as if that fomo and excitement is coming back into the world of crypto and in my humble opinion, not only from a technical perspective, but I think things are going to continue to get crazy on the announcement of the spot Bitcoin ETF being approved and really just the what? I'm perceiving to be kind of cultural social turmoil of 2024 I think people are going to try to identify what's thought to be a safe haven and I think this time around Bitcoin will be viewed as a safe haven asset. Obviously those are my own thoughts and opinions I implore you to do your own research. But for one, I'm very, very excited.