I Want to talk about some crazy stuff that is going on in the world of crypto right now, specifically how there's a new analyst price Target on bitcoin of $160,000 in 2024 and then an even crazier story of how one lucky degenerate Trader turned $450 to over $2 million. Some crazy stuff to get into Bitcoin could reach 160,000 in 20, 24 on the back of the having spot ETF hype according to one analyst, a slurry of catalyst and historical Behavior could catapult Bitcoin to as high as 160,000 in a widely expected bull market that Anala could be underway in 2024. Now, before we continue I Just want to give you a little bit of context right now: Bitcoin for posterity, sake is currently trading at 44,000 which puts the market cap at 863 billion and Crypto in totality is currently Val valued at 1.61 trillion and also just for the short-term Traders out there Bitcoin actively breaking out on the daily chart. nice 8we push, then a healthy pullback.

nice consolidation with a very bullish EMA Cloud The push above the close above and it looks like we are off to the races in the short term I'm watching 45k a break above that, then I'm watching 48 and then from there we have the key Technical and psychological level of 50,000 but going down to this whole 160k call out expected demand for Bitcoin from several spots exchange traded ETFs uh in the US the upcoming having and growth in the broader stock market on the back of ruts could boy Bitcoin prices to at least 50,000 in the short term we argue that Bitcoin and crypto markets could have a positive year in 2024, mostly amid the effects from number one, the market valuation cycle number two, network activity, number three, the Bitcoin having number four, the macroeconomic perspective, and number five Bitcoin spot ETF approval and six growing stable coin liquidity. So across the board six things that are fairly like fair for you to consider that would all most likely increase demand. We know Supply is not going to increase, so increase the demand, which should push the price higher. and then obviously on top of that, we see other things related in the world that continue to rip, rip rip.

If you want to see some crazy stuff, look at what's going on with Cardano, look at what's going on with Salana, look at what's going on with Avalanche the crypto sphere right now. lot of fomo, lot of fervor things are ripping to the upside. onchain valuation and network metrics signal. Bitcoin remains well inside a bull market and may be targeting 54,000 in the medium term and 160,000 as the cycle price top.

Bitcoin has historically riled after its having event which automatically decreases the supply of new coins in the open market, and Traders are likely to be pricing in that event. that's next scheduled for April of 2024, So obviously that's a big one, and just if history is any indicator of how the future will play out, yes, with a having event, you tend to see it Go and it's just literally less Supply Like that's there's less of a reward. and right now, just culturally societally, there's going to end up being more demand. But the other thing is the spot.

Bitcoin ETF Before we get there, How crazy is this? I really really appreciate these people who seemingly have such good vision of where markets and Society is going. This was 13 years ago how finny predicting Bitcoin would become the global Reserve currency at 30 I see Bitcoin as ultimately becoming a reserve currency for banks, playing much the same role as gold did in the early days of banking. The reason I bring this up is yes. I Give you a little bit of technical analysis of where I think things are going in the short term, breaking down what the analyst is calling for.

160 the six things that he alluded to that's more of a medium term, but take another step back of the big picture of where this is going. Well, it's fiat currency. The US dollar is based on absolutely nothing. we were taking off the gold standard and hey, maybe how in the long run isn't right? I think he will end up being right.

but if even in the last 13 years 30 cents to 44,000 you basically have unlimited money. Bitcoin Spot ETF Biggest development on Wall Street in last 30 years according to Michael Sailor: A large increase in demand coupled with lower Supply should set the stage for higher prices in 2024 and he has been making the rounds A lot of public appearances talking about crypto and Bitcoin and I Just wanted to share some parts of his recent interview. Obviously there has been so much anticipation and frankly a lot built in. I Think to the price of Bitcoin of this idea, that Spot ETFs are finally going to come.

What's the next? Catalyst for Bitcoin If and when that happens, how much further uh can it be pushed upward? Well I Think you can't really underestimate the significance of the spot ETFs Uh, it's not unreasonable to suggest that this may be the biggest development on Wall Street in 30 years. I mean the last thing that was this consequential was the creation of the S&P index and the ability to invest in all 500 S&P companies via one trade at the same time. So uh, this is very eagerly anticipated. but most of the money in the in the Bitcoin market right now is is the hodlers and the traditional crypto investors.

Mainstream investors, mainstream retail, mainstream institutions have not had a high bandwidth compliant channel to. I Just want to pause it right there to add a bit of context as I showed you Bitcoin Curr Worth 800 billion, the whole crypto sphere between 1 and 2 trillion as it. Gates Remember upon the approval of a Spot Bitcoin ETF that would allow the active management world of Wall Street to have access to Bitcoin and I'm not saying every single Dollar in that will go into Bitcoin or crypto at all, but it's a $30 trillion industry so even if a small percentage is like hey, I want exposure to crypto, think about what that does to the whole Supply demand equilibrium. So I think in January the approval of the spot ETFs is going to be a major Catalyst It's going to definitely drive a demand shock fully fully followed in April with a supply shock because there are about 900 Bitcoin a day available for sale by natural sellers the miners and that number is going to be cut to 450 Bitcoin a day in so it's Supply higher demand price goes up and that that's a good pause point cuz I do want to like Add a bit more context on the whole spot Bitcoin ETF Black Rock NASDAQ SEC Meet regarding Bitcoin ETF This is the second meeting in a month between the parties about rule changes required to list the Bitcoin ETF Representatives from Black Rock and the SEC met for the second time in a month to discuss the rule changes that are necessary to list the Bitcoin exchange uh, ETF Exchange Traded Fund.

The discussion concerned the NASDAQ Stock Market Llc's proposed rule change to list in trade shares of the I shares Bitcoin Trust under NASDAQ Rule 5711 D This rule establishes specific criteria area and Regulatory guidelines for listing and the trading of commodity based trust shares on the NASDAQ exchange and detailing the requirements for initial and continued listing along with surveillance and compliance measuring to ensure Market integrity and protection against fraudulent activities. What's this mean in layman terms? Well, you have about a dozen different companies who are now meeting with the SEC and other related parties even more frequently, which seemingly is being interpreted by the market that we will get this approval and a lot of people are looking at mid January So depending on when you're watching this literally less than a month away, we might have the approval of a spot. Bitcoin ETF And just for those of you who want to know the nitty-gritty it'll probably take a handful of weeks after one Uh is approved to actually go live. Just want to throw that out there for anyone.

But do you know who's betting on this actually going through This whale? the 117th largest Bitcoin holder, but 900 Bitcoin this morning for $39 million. This morning, big whale buying more, Buying more and more and more. Obviously there's a lot of excitement, especially showing you the technical breakouts in the short term, the medium-term understanding what might be happening in 2024, and then in a larger picture saying wow, monetary policy, inflation, devaluation of the dollar seems as if we need something else, so to me that's a pretty reasonable way to look at it, But it's not the only way you can make money in this world. This Trader turned $450 into $2 million betting on Avalanche Meme coin Enu It's a new mem coin.

This one's not a dog, it's hen based. Avalanche is a hen themed token. Over the past 7 days, it's ripped like no other up 534. It's truly wild.

This is just meme. Mania The token is for quote unquote for entertainment purposes. Only a fact that the developers aren't shying away from is a meme coin with no intrinsic value or expectation of financial return. There's no formal team or road map.

it's for for entertainment purposes only. it's not meant to have any return. And yet, someone made multiple seven figures a single. Trader apparently acquired just over $450 worth of shortly after its issuance and the amount has since ballooned to over $2.5 million.

The wallet has seemingly sold over 1.5 million worth of so far and sits on over 800,000 in unrealized gains I would be lying if I told you I wasn't jealous I wish I had a giant Financial windfall from a me joke Internet troll event I Don't I'm jealous and uh, my hat's off to this absolute D Gen Hats off. This is some high quality stuff I Want to let you know most, like most meme coins, this isn't going to end well. this isn't some longterm investment that will most likely continue to grow. it's a completely different thing.

Um, the way Bitcoin could be compared to a solid blue chip stock. Apple Microsoft Something like that? this is equivalent to a random penny stock that's just moving very volly. But if you look at most Penny socks, they end up horrifically failing. So I have none of this I'm not going to have any of this I just want to cover it because it's an eye watering return.

And if I'm being honest I Like the degeneracy makes me feel some sort of way. but if you decide to get involved, please just understand that there's a high chance of it blowing up in your face. So I hope you make a money I hope you make a ton of money. but also, if you're putting money on the table, be prepared for it to not come back to you.

but still 2 point 5 mli from $450 That's crazy I guess I Guess some would call it a Christmas miracle.