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The crypto bull market is raging right now with Bitcoin blasting through $81,000 heading to $82,000 with altcoins making epic gains, Cardano and Dogecoin seeing massive gains over the past 7 days, and I want to share what Charles Hoskinson is saying about working with the Trump administration on crypto policy for 2025 and he's looking to build a relationship back with the XRP community.
I'll give you the details, let's get into it. Hey everybody, welcome into the Thinking Crypto Podcast, your home for cryptocurrency news and interviews.I'm your host Tony Edward.
On your way in, please hit that subscribe button as well as the thumbs up button and leave a comment below.If you're listening on a podcast platform such as Spotify or Apple, please leave a 5 star rating and review.
Folks, Bitcoin has been on a tear today, blasting through $81,000, and even earlier in the day, blasting through $80,000.So right now at the time of recording, it's at $81,259, looking like it wants to go to $82,000, which is my price target.
You guys have seen it in my newsletter.I've been talking about it.And that's where we could see a small pullback.Remember, this thing doesn't go up in a straight line.Bitcoin will hit overbought zones along the way.
doesn't mean the bull market's over.If you go back and look historically, it goes in phases.There are epic pumps, pullbacks, bill support levels, then pump again, right, until we reach the blow-off top.
You should notice by now, you should go on TradingView.I've been sharing it in the newsletter, on the channel, and much more.It's very important for you to understand that because the volatility is very high in this crypto asset class, right?
So sometimes you have Huge swings up, but also huge swings down.
And if you're not using the technicals or the charts, you may think, Oh no, this thing is done run for the Hills, but that's where you have to leave your emotions at the door and pay attention to the charts and the data, which I'm going to share with you here.
But Bitcoin guys is in price discovery.It closed the week, super bullish.I mean, the support level that we were looking for it to close is like above 71,000.It closed above 80.
i mean come on right that's incredible so the bull market is so much fun but once again it doesn't last forever so this is why i keep harping on have a plan know which price points you're taking profits at don't listen to people who tell you don't take profits because a bear market will return many times the people who tell you don't take profits
They don't show you their portfolio.They don't show you their financial situation and many times they're pseudonymous They hide behind a comment so you don't know who it is, right?
But what they're doing they don't want you to sell but they're going to sell right?And this is where you have to be careful stick to your plan know what you're going to do And i've told you guys what my plan is take profits.
There's some bitcoin i'm never selling i've said that many times but take profits and reinvest some of it back in the bloody bear market because the bear market will return.So Bitcoin doing epic things, guys.
Here's what Caleb Frenzen had to say about Bitcoin moving to $100K this quarter.He said Bitcoin needs to gain plus 24.4% to cross $100,000.So we're less than 25% away from $100,000.He says Bitcoin is up plus 27.8% since October 14, 2024.
So pretty incredible right when you put it in percentages and the numbers you see we're not far away and here coins kid uh highlighted this is my macro fibonacci targets for bitcoin if we see bitcoin smash through the minimal 82k target these are the macro fibs on the monthly time frame to plot price discovery resistance for bitcoin so
He's highlighting the 1.618 is at about $150,000.So, uh, he shows the different Fibonacci levels, and this is why you want to look at the data and the charts, right?
And these patterns, they're not a hundred percent perfect, but they're at least better than going with your gut or your emotions because.
Markets will play with your emotions, and this is why you need to look at the data, what's happening, volume, sell pressure, metrics like the following that I look at, the pi cycle top indicator.We're nowhere close to it.
We're on the way up towards that cross, but we're nowhere close to the top, so we still have ways to go. In addition, we're seeing that supply, Bitcoin supply in exchanges continues to dump.That's a very good sign.
It means whales are not moving their coins back on the exchanges to sell.Like we saw earlier this year in 2024, when the Bitcoin ETFs were launched and the price went up to about $73,000.Guess what the whales were doing?
Putting their coins back on the exchanges to sell.So once again, this is why you want to look at data.It's so important.
In addition, we continue to see that accounts or wallets, I should say, with 10 or more Bitcoin, and usually this is sharks and whales, that continues to spike.And this data is brought to you by Santiment, which is a partner of the podcast.
You can check out the link in the description.So once again, we're looking at data to validate our thesis here.And here on Google Trends, searches for Bitcoin and crypto are up.So that means retail is waking up.
But it's nowhere near the levels of previous bull markets like let's say 2020 and 2021 It's not there yet.So we still got ways to go guys.
Uh, the euphoria hasn't hit the masses as yet I personally think once bitcoin hits a hundred thousand dollars that beautiful round number that psychologically a lot of people gravitate to
You know what's going to happen, FOMO, mass media coverage, but that's where you want to be exiting or start your exiting.And that's what I'm going to be doing.
You don't have to follow me, but I'm sharing the principles, the fundamentals of how smart money operates.Buy low, sell high. And as Bitcoin is pumping guys, uh, all coins are moving significantly.So let's take a look at some of them.
Ethereum $3,200 up 30% over the past seven days.Solana up a near 30% as well.It's currently at $210.BNB at 640, uh, up about 14.51%.Dogecoin. Look at this ripping.It is in the number six spot right now, guys.It is up 95% over the past seven days.
That's wild.XRP at 59 cents up, uh, just over 17%, but Cardano has been ripping here at number nine, uh, at 59 cents, but up near a 79% over the past seven days.Incredible gains, right?And this, once again, this is just a start.
The liquidity will start cycling through different all coins.They're going to move. So, really, really bullish stuff.And I want to share something one user tweeted out, and I think it's a great sentiment.You survived stablecoins de-pegging.
You survived a multi-year anti-crypto campaign while your portfolio was down 85% of the highs. You deserve this.So this is where I've talked about being patient.You guys know, right?I've been beating the drum.
Some of you are probably tired of hearing me saying it.Be patient, be patient.Dollar costs averaging by the blood on the streets and the markets move in cycles.They will return guys, but you have to position yourself.
You don't want to be part of the dumb money crowd who are not researching.We're not financially educated and they just read headlines and FOMO in. But look, we can't control that.You want to leave that crowd and you want to educate yourself, right?
Knowledge is power.But guys, your patience will be rewarded.And I hope you're starting to see some of that reward already.Really, really epic stuff happening here in this market.
Here's an example of dollar cost averaging, buying the lows and hodling and being patient.Remember the Dogecoin millionaire?He calls himself slum Doge millionaire on Twitter. He said his portfolio is back up significantly.
He said he primarily holds the Dogecoin and ADA.So his portfolio is back in the millions.Uh, but he didn't dump when his portfolio dropped to about 50 K in the bloody bear market, he didn't dump.And he said he bought some more and now he's up.
So guys, this is why it pays to understand the market and be financial educated by the dips and, uh, huddle.So he shared a screenshot.He's back in the millions again.And, uh, Pretty incredible stuff.
I think it looks like his portfolio is over 5 million dollars with a combination of Doge as well as ADA.
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Link will be in the description.Now guys, we got some very interesting statements coming from Charles Hoskinson, who's the founder of Cardano.He said he's working with the Trump administration on crypto policy in 2025.
He also said that he's looking to rebuild a relationship with the XRP community and wants to participate with the RLUSD stablecoin.
Cardano taps BitcoinOS to integrate Bitcoin liquidity into its DeFi ecosystem using zero-knowledge cryptography for secure cross-chain functionality.
So let me play the clip here from Charles. I'm going to be spending quite a bit of time working with lawmakers in Washington, D.C.
and quite a bit of time working with members of the administration to help foster and facilitate with other key leaders in industry, the crypto policy.We have to do this and we have to get it done.
There's a very high probability that the Republicans will control not only the Senate and the presidency, but also the Congress, the House.
And in the process of doing so, this is the best opportunity we have ever had in the history of the industry to get clarity for our industry and remove the sort of Democles that the SEC has reigned over the Cardano ecosystem, Ripple ecosystem, the Ethereum ecosystem, reigned over Solana, reigned over all the major ecosystems, and actually including Bitcoin in many respects, despite the ETF approvals.
None of us signed up to have companies like BlackRock dictate to the United States what the crypto policy should be.
The crypto policy should be written by the American people, the American crypto industry, and by well-meaning lawmakers who are willing to take the time to listen.
So, we will establish at input-output a policy office, and we're going to begin staffing that office, moving some personnel around, and hopefully by January, we can begin to participate in that process and work with certain key leaders in certain key positions and get to a point where we can hybridize many of the proposals, including FIT 21, including the Lummis bill, FIA, and other such things, so that we can get a bipartisan bill passed.
that will give us absolute clarity of when things are securities and commodities, help us navigate the often tumultuous and chaotic waters of DeFi, and get us to a point where we can get back to business.
So great to hear that Charles is doing this.
I think we need more of the industry leaders to do this, to work with the government, to get clear regulations, put the proper guardrails in place, because we need to protect consumers, but also foster innovation.
Guys, I hope you see what's happening here.Brighter days are ahead for this industry with Gensler going to be kicked out, Elizabeth Warren.
has been disarmed and we're going to have some pro-crypto people coming into these agencies and we have the most pro-crypto Congress that's going to be going into office and obviously a pro-crypto president.So incredible stuff, guys.I am so bullish.
I'm expecting to make some really nice returns as we head into the remainder of this parabolic phase.But remember, guys, there will be a top.So have a plan.Let's jump into some other news.
A16z crypto says tokens will likely be legitimate and lawful under new regulations. ReElection says it's too early to predict specific regulations, but crypto founders should expect a less hostile regulatory environment.
Founders can now feel empowered to explore all the groundbreaking products and services that blockchains enable, including tokens that post-date. You know, they're going to do their part to influence these things.
And, uh, they, they have a lot of connections with the government and, uh, the investing world.So it's important to keep an eye on what they're doing.
Uh, final news item here, Parify ex-partners Inversion Capital will give a crypto maker Richard traditional businesses.
So Web3 investor and ex-Parafi Capital partner Santiago Royal Santos announced the launch of Inversion Capital, a new private equity fund designed to acquire traditional businesses and transform their operations by adopting crypto.
This absolutely makes sense because you're going to have certain companies that are going to become irrelevant due to the transition to blockchain and crypto and so forth.
However, if you can buy them up and essentially update their products and services and their business model using the technology, there's an opportunity here.So this is smart.
This is something I would do essentially, you know, uh, if everything aligned business wise and so forth, but, uh, think about it, right?There's going to be a lot of web two companies.
They're going to become irrelevant, but if they can transform themselves, they can avoid their blockbuster moment.So they have to adapt and, um, look, there's nothing wrong with getting bought out as well.
You know, if you're a big web three company or a fund comes along and they want to buy you out and do their own thing. Nothing wrong with that, right?That's a big part of the entrepreneur journey.So I absolutely think this makes sense.
And this is only going to help the crypto market and industry grow.So really great stuff here.All right, guys, let me know what you think.Leave your thoughts and comments below.
A great way you can support me in the podcast is by signing up for my free email newsletter on Substack.It's 100% free. Also, be sure to grab a copy of my book Rethinking Crypto.It's available on Amazon and paperback and digital.
Buy a copy for yourself.Buy a few copies for your friends and family.Give them as gifts this holiday.Help them to learn about crypto as this bull market continues.Don't let them get wrecked. Right.
Give them the book, let them learn the past, present, and future of crypto and what happened with FTX and why that was not crypto.I've often stated knowledge is power.So, uh, help them to navigate this, this market.
And the book includes tips for investing in the market guys.So be sure to grab a copy.A link will be in the description.If you bought a copy already, please leave a rating and review on Amazon.It will really help out my rankings.Thank you so much.
I appreciate you all.And I'll talk to you all later.
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