Latest / The Paul Barron Crypto Show / Bitcoin Hits $70,000🚀 All-Time High Next?

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Bitcoin Hits $70,000🚀 All-Time High Next? · The Paul Barron Crypto Show

0:08
Speaker 1: After a bitcoin weekend, and of course mister Trump going
0:11
Speaker 1: out there at the Bitcoin conference will break down how
0:13
Speaker 1: this affects the market in full. I think you guys
0:16
Speaker 1: are gonna like it today. My name is paulbar Welcome
0:18
Speaker 1: back in the tech path. Just as a reminder, if
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0:29
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0:31
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0:34
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1:00
Speaker 1: It does help the channel, all right. A couple of
1:02
Speaker 1: things I want to hit onto course today.
1:04
Speaker 2: Because this is a big week.
1:05
Speaker 1: If you look at everything that's happening. You've got Microsoft's
1:08
Speaker 1: Q three earnings right there. That'll be helpful for the
1:11
Speaker 1: mag seven. Wednesday, we have the FOMC rate decision most
1:14
Speaker 1: likely will air that live, so make sure and when
1:18
Speaker 1: you hit the subscribe button, hit that little bell you'll
1:20
Speaker 1: get notifications on our livestreams. Japanese interest rates decision did
1:24
Speaker 1: their first hike in nearly two decades. And then of
1:27
Speaker 1: course Thursday we've got Apple, Amazon UK interest rate decisions,
1:31
Speaker 1: all sorts of things happening, and then not to be overshadowed,
1:35
Speaker 1: we've got jobs coming in on Friday. So big day,
1:39
Speaker 1: big week for what's going to happen, I think in
1:41
Speaker 1: the markets in general, and of course bleeding into what
1:45
Speaker 1: has happened over the last couple of days, and that
1:48
Speaker 1: is the Bitcoin conference. And if you look at the
1:51
Speaker 1: speech treecap right here, I want to go all into
1:53
Speaker 1: it because I've got a clip for you, but I
1:55
Speaker 1: love the first one.
1:56
Speaker 2: It's the best one.
1:57
Speaker 1: On day one off fire Gary Gensler and point a
2:00
Speaker 1: new SEC chair. I want to go to the clib
2:03
Speaker 1: This will wrap up everything here we'll talk about some
2:05
Speaker 1: of these items that happened from President Trump and also
2:08
Speaker 1: of course uh.
2:09
Speaker 2: RFK Junior as well. Let me go to this first one.
2:11
Speaker 1: This was the speech highlights from President Trump, wasn't it?
2:15
Speaker 2: And I won't bother anymore.
2:16
Speaker 3: That's enough because we have to talk about crypto. We
2:21
Speaker 3: have to talk about bitcoin, and I bitcoin is going
2:24
Speaker 3: to the moon, as we say, is going to the moon.
2:27
Speaker 2: No, you're going to be very happy with me. You're
2:30
Speaker 2: going to be so happy he is.
2:33
Speaker 3: He's the greatest guy, the ninth most valuable asset anywhere
2:39
Speaker 3: in the world. Can you believe that? Is that?
2:41
Speaker 4: Right?
2:42
Speaker 3: That's a big deal.
2:44
Speaker 2: It's not bad about gold. How about gold? Let's go gold.
2:48
Speaker 2: And I don't think you've ever.
2:49
Speaker 3: Seen anything like it, and most people have no idea
2:52
Speaker 3: what the hell it is?
2:53
Speaker 2: You know that right, We're gonna let it grow.
2:56
Speaker 3: On day one, I will fire Gary Gensler and a point,
3:00
Speaker 3: new SEC chairman.
3:05
Speaker 2: I didn't know he was that unpopular.
3:09
Speaker 3: Well, I didn't know you was that unpopular. Let me
3:13
Speaker 3: say it again. On day one, I will fire Gary Ginstler,
3:20
Speaker 3: WHOA Let me tell you, if they win this election,
3:24
Speaker 3: every one of you will be gone, but right now,
3:28
Speaker 3: because of me, they're leaving you alone. So please say
3:31
Speaker 3: thank you, President Trump, thank you for very much.
3:33
Speaker 2: Now you have to listen to these numbers.
3:35
Speaker 3: These numbers are like beautiful, and I don't want to
3:38
Speaker 3: repeat myself. During my four years in office, bitcoin surged
3:43
Speaker 3: by three thousand, nine hundred percent. Now compare that to
3:50
Speaker 3: just after three and a half years of Biden and Harris,
3:54
Speaker 3: and bitcoin is up fifty percent. Now, fifty percent sounds good,
3:59
Speaker 3: but not when you're comparing it to almost four thousand percent.
4:04
Speaker 3: Fifty is not good.
4:07
Speaker 1: All right, So, as you can see, he was a
4:09
Speaker 1: little bit all over the place. I don't know if
4:10
Speaker 1: people would look at this as a success a failure,
4:13
Speaker 1: you know, kind of sideways on it. But I think
4:15
Speaker 1: when you look at the key talking points that he
4:18
Speaker 1: went into, and I'll just cover those again. Obviously against
4:22
Speaker 1: are creating a strategic national Bitcoin, we'll talk about reserve
4:26
Speaker 1: to talk about that in a second, Bitcoin going to
4:29
Speaker 1: the moon, obviously, never sell your bookcoin. He got into
4:31
Speaker 1: all that, So he covered a lot of the things
4:34
Speaker 1: that I think everybody wanted to hear, and like any politician,
4:38
Speaker 1: that's kind of their mission in life, and that is,
4:40
Speaker 1: tell you what you want to hear so they'll vote
4:42
Speaker 1: for you. Watching them act on it is the most
4:45
Speaker 1: important thing. And look at what Trump has done with
4:49
Speaker 1: his own NFT program along with his awareness of this,
4:53
Speaker 1: whether it's him, his advisors or not, this of course
4:56
Speaker 1: is NFT collection right here. He was already into this
4:59
Speaker 1: quite a bit now granted, not into bitcoin, but definitely
5:02
Speaker 1: understood what was happening within the crypto space. And did
5:05
Speaker 1: you notice his use of the term crypto as well
5:08
Speaker 1: as bitcoins. So at least his advisors are aware of
5:11
Speaker 1: the difference. And I think he is going to be
5:14
Speaker 1: interesting to watch as to how this plays out from
5:17
Speaker 1: his administration. The good thing is I think he'll see
5:20
Speaker 1: this as an opportunity in the financial markets for what
5:23
Speaker 1: we'll see on Wall Street, which will really play into
5:26
Speaker 1: a popular I think a popularity contest right now coming
5:30
Speaker 1: down to the wire as we start to see other
5:32
Speaker 1: things play out in the political landscape.
5:34
Speaker 2: I want to go to another clip.
5:35
Speaker 1: This is CNBC and their opinion of how this might
5:39
Speaker 1: have played out for him.
5:40
Speaker 4: Take a look, how exactly was the speech received by
5:45
Speaker 4: the general audience. Was their excitement? Was there a little
5:49
Speaker 4: bit of a kind of pause. What was the feeling, Well,
5:52
Speaker 4: it was a letdown.
5:53
Speaker 5: And that's because the day before you had Robert F.
5:55
Speaker 5: Kennedy Junior announcing that on day one of taking office
5:58
Speaker 5: he would sign an executive or directing the Treasury to
6:01
Speaker 5: acquire four million bitcoin to have an asset reserve that
6:06
Speaker 5: was on par with a gold standard. So people were
6:08
Speaker 5: expecting Trump to go farther than a stockpile into a
6:11
Speaker 5: federal reserve. Now we did hear from Republican Senator Cynthia
6:14
Speaker 5: Lummis saying that she would bring forth a bill that
6:17
Speaker 5: would propose acquiring one million bitcoin over the next couple
6:21
Speaker 5: of years. But the point is is that this has
6:22
Speaker 5: suddenly become this Republican issue where they've really tried to
6:26
Speaker 5: align themselves with this pro crypto cause.
6:28
Speaker 1: Okay, so, and I would say that that tunes in
6:34
Speaker 1: I think to a lot of what the talking points
6:36
Speaker 1: are for a lot of the Republicans in terms of
6:37
Speaker 1: just pro capitalism in general. But I think also this
6:41
Speaker 1: speaks very well to the independence the progressives and that
6:45
Speaker 1: is just free the ability to kind of do this.
6:47
Speaker 1: Lummas actually went on stage after trying to get that
6:50
Speaker 1: point across which was the strategic reserve idea. I've got
6:53
Speaker 1: a clip of her kind of breaking this down a
6:56
Speaker 1: little bit more in detail.
6:57
Speaker 2: Take a look.
7:00
Speaker 6: Yes, this is the Bencoin Reserve Bill in the Senate
7:10
Speaker 6: of the United States to establish a Bencoin Strategic Reserve,
7:17
Speaker 6: a network of secure storage vaults, purchase program, and other
7:23
Speaker 6: programs to ensure the transparent management of bitcoin holdings of
7:30
Speaker 6: the federal government.
7:42
Speaker 1: I'm sound there, but the point is that there is
7:45
Speaker 1: a strategy in place. Lummus kind of leading the way
7:47
Speaker 1: here with the National Reserve for Bitcoin. This I think
7:51
Speaker 1: plays into a couple of scenarios that obviously are good.
7:55
Speaker 1: I think in general two things that are important here
7:58
Speaker 1: to look at. One, of course, you know, how does
8:01
Speaker 1: this affect you know, national debt. Obviously, we just broke
8:03
Speaker 1: thirty five trillion out there, so I don't know that
8:06
Speaker 1: that necessarily is anything that it's going to have major impact.
8:09
Speaker 1: I think this is more of a potential around national security,
8:13
Speaker 1: because national security could play into this, especially if we
8:16
Speaker 1: continue to see a lot of activity with bricks and
8:19
Speaker 1: other nations kind of going in this direction. I also
8:21
Speaker 1: want to go to another clip here because this other
8:23
Speaker 1: clip will get into a little bit more detail on
8:26
Speaker 1: how Novograts. This is Mike Novograts talking about really what
8:30
Speaker 1: this might look like on balance sheets. So looking at
8:33
Speaker 1: the future of where bitcoin is going, take a.
8:34
Speaker 7: Look bitcoin on the balance sheet of the United States
8:38
Speaker 7: of America.
8:39
Speaker 2: Like, how big would that be?
8:41
Speaker 3: Uh?
8:41
Speaker 8: It is the singa most bullshit thing that's happened to
8:44
Speaker 8: crypto since I bought it in at ninety eight dollars
8:48
Speaker 8: or twenty.
8:48
Speaker 7: What would that mean? Would that mean?
8:50
Speaker 2: Like we are.
8:50
Speaker 8: Holding probably a one hundred thousand in a week. I
8:54
Speaker 8: think they're both going to commit. Hey want these voters,
8:57
Speaker 8: I will be surprised. I'm willing to bet three beers.
9:00
Speaker 8: If you want to join, I can go six.
9:01
Speaker 2: I'll throw up.
9:02
Speaker 7: After I would go as far as to say it's
9:05
Speaker 7: nowhere near priced in to have two pro crypto presidential candidates,
9:10
Speaker 7: Like we've never had that setup going to this and
9:13
Speaker 7: I bought a lot.
9:14
Speaker 1: More crypto in the last week, all right, So Novocrats
9:19
Speaker 1: might be right there if you look at strategic reserves
9:22
Speaker 1: as being a real potential here, and even if it
9:24
Speaker 1: is just a small amount, and in comparison, because remember,
9:28
Speaker 1: this will be a starting point and what I think
9:30
Speaker 1: will happen is we start to see really this market
9:33
Speaker 1: start to explode. The opportunity there for the US is huge.
9:37
Speaker 1: And again he is also right that if you look
9:39
Speaker 1: at the Harris campaign and if they do select to
9:42
Speaker 1: go pro crypto, because I still feel that this might
9:45
Speaker 1: be the play by the Harris campaign, I think it's
9:48
Speaker 1: going to be a spin. Remember, Harris's voters are younger,
9:53
Speaker 1: they're much more progressive. They fall into the probably the
9:57
Speaker 1: two biggest categories out there, and that is and also
10:01
Speaker 1: jen A to a certain extent, and some of the millennials.
10:04
Speaker 1: So that could play into a huge opportunity I think
10:07
Speaker 1: for both camps, both Democratic and Republican, to be in
10:11
Speaker 1: the play.
10:12
Speaker 3: Now.
10:12
Speaker 1: Of course, Kennedy also got into a lot of this.
10:16
Speaker 1: We've got some clips here from rfk's bitcoin speech.
10:18
Speaker 2: Take a look.
10:20
Speaker 9: Will President Trump fight for bitcoin if he's elected. I
10:24
Speaker 9: wish you had mentioned bitcoin and the RNC speech last week.
10:27
Speaker 9: I'm disappointed he spent a lot of the last week
10:30
Speaker 9: attacking President bucle of El Salvador, the only country on
10:35
Speaker 9: a bitcoin standard, should want to take a page from
10:39
Speaker 9: President bucles Playburgh and learn some of the lessons that
10:43
Speaker 9: he has to teach us about bitcoin and even more alarming,
10:48
Speaker 9: President Trump and I interviewed last month with Bloomberg loaded
10:53
Speaker 9: the idea of bringing on Jamie Diamond as his secretary
10:56
Speaker 9: of Treasury. I'm grateful that President Trump yesterday walked back
11:03
Speaker 9: that comment, but those choices don't match. I mean personally,
11:08
Speaker 9: I would rather see somebody like Michael Saylor or Caitlyn
11:12
Speaker 9: Long as treachery secretary. Finally, President Trump has had four years,
11:19
Speaker 9: had four years to pardon Ross Olbrick and Julianna Sange
11:23
Speaker 9: and Edward Snowtan, and he didn't do it. And we
11:28
Speaker 9: need to ask ourselves why look at the candidate's policy,
11:31
Speaker 9: but more important to look at their actions to decide
11:35
Speaker 9: if they are genuinely part of the of the problem
11:39
Speaker 9: or if they're part of the solution.
11:41
Speaker 2: Decide if they.
11:41
Speaker 9: Align with what you believe in in your heart. In fact,
11:45
Speaker 9: I don't think of myself as red, I don't think
11:48
Speaker 9: of myself as blue, and I don't even think of
11:50
Speaker 9: myself as purple. Instead, I think of myself as orange.
11:58
Speaker 9: And it's true Trump has orange hair, but I have
12:04
Speaker 9: an orange heart, and that's what you should sport. Thank
12:07
Speaker 9: you all very much and god bless.
12:11
Speaker 2: All right, some interesting statements there. Again.
12:13
Speaker 1: You know, I know his camp is very pro on
12:17
Speaker 1: you know, the performance of how these presidents and administrations
12:21
Speaker 1: have done over their past administrations.
12:23
Speaker 2: And I think, you know, that's fine. But if you
12:25
Speaker 2: look at Trump.
12:26
Speaker 1: And I'm not putting a defense on that, just saying
12:29
Speaker 1: that he was not a politician, went into the office,
12:31
Speaker 1: probably figured out that a lot of things he didn't know,
12:35
Speaker 1: and I think, you know, in the sense of being
12:37
Speaker 1: able to really kind of get a landscape of things,
12:39
Speaker 1: it was probably going to take some time. I think
12:40
Speaker 1: he's a little bit more prepared this time and understands
12:43
Speaker 1: just how deep it goes in DC. So when you
12:47
Speaker 1: ask that question of RFK whether he would stay in
12:51
Speaker 1: the race or drop out, listen to what he had
12:54
Speaker 1: to say.
12:55
Speaker 10: Is your campaign right now closer than it's ever been
12:58
Speaker 10: to being over?
13:00
Speaker 2: To be over?
13:02
Speaker 9: Oh my campaign, it will be over on election Day.
13:06
Speaker 10: There is no circumstance in which you drop out of
13:08
Speaker 10: this race, no, and endorse anyone.
13:12
Speaker 9: I can't imagine a circumstance right now. I would do that.
13:15
Speaker 9: I mean, anything is possible, but I can't. I at
13:20
Speaker 9: this point, there is nothing in the cards.
13:22
Speaker 10: Are you disappointed that ballot access has been as slow
13:26
Speaker 10: and possibly frustrating as it's been.
13:28
Speaker 9: I well, yeah, so.
13:32
Speaker 1: I see some you know, some hesitation there on RFK,
13:36
Speaker 1: which is interesting because if you look at you know,
13:39
Speaker 1: body mechanism and you know, just language, I mean, he
13:42
Speaker 1: kind of leans back on that question. There are some
13:45
Speaker 1: things that are kind of intriguing. He's left the door open,
13:48
Speaker 1: is what it pulls down to. But one thing that
13:50
Speaker 1: you have to do kind of give him credit for,
13:53
Speaker 1: and that is his knowledge and awareness. This was safe
13:56
Speaker 1: for talking about this. You know, they add some time
13:58
Speaker 1: with RFK, but he's basically he's much more aware of
14:02
Speaker 1: what's going on in crypto and bitcoin above the surface level.
14:06
Speaker 1: Because I feel like Trump kind of exposed his weakness
14:09
Speaker 1: on crypto and bitcoin in the sense that he maybe
14:12
Speaker 1: doesn't fully understand what this is and how it works
14:15
Speaker 1: within really around a global economy. But I think RFK
14:19
Speaker 1: has a much better grasp of this. Now, what does
14:21
Speaker 1: that mean will get him voted in? Probably not, but
14:24
Speaker 1: it could put him in a position where he could
14:27
Speaker 1: end up in a cabinet on maybe on either side,
14:30
Speaker 1: and be very effective on moving something like this forward.
14:34
Speaker 1: So a lot of cool things going on.
14:37
Speaker 2: Other things.
14:37
Speaker 1: The ETHTF had a pretty good week week last week.
14:40
Speaker 1: If you compare that around eight hundred millions to the
14:42
Speaker 1: bitcoin ETF two hundred million on the ETHTF, not a
14:45
Speaker 1: bad deal. When you look at a quarter of the
14:48
Speaker 1: bitcoin inflows over the equivalent period of time, that's significant.
14:53
Speaker 1: And again remember I've talked about this many times on
14:56
Speaker 1: the show, and that is that it is ethereum still
15:00
Speaker 1: very unknown, and I think that is something that the
15:03
Speaker 1: asset managers continue to battle with and really being able
15:07
Speaker 1: to see it. Going forward, the question will be is
15:09
Speaker 1: how people diversify their holdings because some people might say, Okay,
15:12
Speaker 1: I'm going to if I'm gonna go crypto, maybe I'm
15:15
Speaker 1: going to do.
15:15
Speaker 2: A sixty forty.
15:16
Speaker 1: But if we ever do get to that level, that
15:19
Speaker 1: could be significant for ethereum going forward. Justin Sun of course,
15:24
Speaker 1: is pushing China to try to reconsider their crypto stance.
15:28
Speaker 1: I don't know that this is going to necessarily going
15:29
Speaker 1: to work. I think China will go the opposite, but
15:31
Speaker 1: they need to step up since Trump is pushing for this.
15:34
Speaker 1: I think the bigger point right now is to watch
15:37
Speaker 1: what Bricks does. Watch what bricks does, because this will
15:40
Speaker 1: give us a lot more of an indication of how
15:42
Speaker 1: China is thinking and maybe staying pace on this. Now
15:46
Speaker 1: we may force the hands when I say we, the
15:48
Speaker 1: United States may force the hands of bricks in other countries,
15:51
Speaker 1: but China, I think, is going to go alternative to
15:54
Speaker 1: what our strategy are, whatever it might be. So a
15:57
Speaker 1: lot of things pulling out for sure right now. This
16:01
Speaker 1: was surprising to me. The wealthiest one percent right now
16:04
Speaker 1: hold fifty percent of stocks worth basically nineteen point seven
16:09
Speaker 1: trillion dollars. This is significant because the opportunity here of
16:15
Speaker 1: a potential impact to the market. Should liquidity get into
16:19
Speaker 1: a position of simply saying I'm not sure where the
16:21
Speaker 1: market's going, I want to retrace and hold or maybe
16:24
Speaker 1: take profits, could have some pretty significant impacts going forward.
16:29
Speaker 1: This is CNBC talking about whether or not they're worried
16:32
Speaker 1: about a big sell off.
16:33
Speaker 2: Take a look.
16:34
Speaker 7: So you're not worried about the potential for a big
16:37
Speaker 7: sell off in the fall, or.
16:38
Speaker 5: You're just not thinking either that long term or short term,
16:41
Speaker 5: depending on how you want to look at it.
16:43
Speaker 11: Yeah, I think it's going to be I think we're
16:45
Speaker 11: going to have a volatile couple of weeks up until
16:47
Speaker 11: about October. You know, time pretended for bad onto the market.
16:50
Speaker 11: So I guess I'm certainly just not worried about that volatility.
16:54
Speaker 11: I expect it. I expect to be buying on the depth,
16:56
Speaker 11: but longer term, again, I'm just a believer that the
16:59
Speaker 11: market is going to end up positive this year, and
17:01
Speaker 11: these are your opportunities to dollar cost average into a
17:04
Speaker 11: more diversified portfolio. But that last point, I am diversifying, right,
17:08
Speaker 11: So I have seen the books of small caps. I
17:10
Speaker 11: do think there's something there. I'm looking at names like
17:13
Speaker 11: micro Strategy for example. You know, we saw the Nashville
17:16
Speaker 11: conference this weekend. America is going to be the land
17:18
Speaker 11: of bitcoin if we get that side of the House elected.
17:20
Speaker 11: So I did think there are some opportunities now to
17:22
Speaker 11: diversify as well. But I'm not afraid of the volatil
17:24
Speaker 11: at intact and that.
17:25
Speaker 1: Pulling back, all right, So still people looking at the upside.
17:30
Speaker 1: We showed a clip last week and this was Tom Lee.
17:33
Speaker 1: He kind of was in the same position. A lot
17:34
Speaker 1: of analysts looking at the S and P five hundred
17:38
Speaker 1: right now and the position and if you look at
17:41
Speaker 1: the scenario that could play out here from political landscape,
17:43
Speaker 1: and also remember interest rates CPI continuing to slow. The
17:48
Speaker 1: concern I have is jobs, but all of that could
17:52
Speaker 1: play into a very bullish future for not only the
17:55
Speaker 1: S and P five hundred, but also some of those
17:57
Speaker 1: smaller microcaps. So definitely want to watch for sure. This,
18:01
Speaker 1: of course is what we're watching right now, and that
18:04
Speaker 1: is the potential of a rate cut. So here you've
18:06
Speaker 1: got the FOMC meaning rate cut probability for the September
18:10
Speaker 1: eighteenth setting at around eighty five point eight. So I
18:15
Speaker 1: think this based on the data that we're getting so far.
18:20
Speaker 1: The key here will be CPI over the next forty
18:22
Speaker 1: five days to really take a look a hard look
18:25
Speaker 1: at how this plays out into September. And I think
18:29
Speaker 1: the key here is if this rate cut does come
18:31
Speaker 1: in in September, you could see a barn burner in
18:35
Speaker 1: terms of the markets because I think a lot of
18:37
Speaker 1: people will be in a position saying, hey, we're on
18:39
Speaker 1: our way down. So definitely some good sense of where
18:44
Speaker 1: this might go. This, of course is FED Vice chair
18:47
Speaker 1: form of FED Vice chair talking about the rate cut
18:51
Speaker 1: September possibility.
18:52
Speaker 12: Take a look we last time we spoke, you felt
18:55
Speaker 12: things were getting good enough to cut rates. The question
18:59
Speaker 12: I would ask you is whether you think that comes
19:02
Speaker 12: before or after the election at this point.
19:06
Speaker 13: Well, first bonjours, I must say, look, I think the
19:10
Speaker 13: cut probably comes in September. It's what the market is priced.
19:13
Speaker 13: Then I think the data on balance would support that.
19:17
Speaker 13: And if they're not going to do it, they're going
19:18
Speaker 13: to have to signal pretty clearly and push back hard
19:20
Speaker 13: against the market. So count me in the camp of
19:23
Speaker 13: many that Septembers are likely the first move.
19:27
Speaker 12: And what would have to change in your mind if
19:29
Speaker 12: that were to get delayed.
19:30
Speaker 13: At all, Well, I think they'd have to see a
19:33
Speaker 13: series of very strong reports, which seems sort of unlikely
19:37
Speaker 13: at this stage. That includes obviously the upcoming labor market
19:41
Speaker 13: data at the end of the week. I think there's
19:43
Speaker 13: at least one more two more actually inflation reports that
19:46
Speaker 13: they'll have to see. But look, there's the data mounting up,
19:50
Speaker 13: as I say, on balance that they should probably cut.
19:52
Speaker 13: We see inflation itself stable or coming down. Goods prices,
19:56
Speaker 13: which are an important part of this, given that services
20:00
Speaker 13: this is relatively sticky. Good prices have been moving in
20:02
Speaker 13: the right direction from their standpoint, and we've also seen
20:05
Speaker 13: you know, some beginning of weakness and consumers, the consumer
20:09
Speaker 13: sentiment numbers from Michigan, we're relatively weak. So I think
20:13
Speaker 13: there's enough evidence for them to bord and cut unless
20:16
Speaker 13: there's something dramatically different in between.
20:19
Speaker 1: So key here right now, guys, is we're looking for
20:22
Speaker 1: the potential of the CPI data coming in for sure
20:26
Speaker 1: off the job market, and of course what we'll see
20:28
Speaker 1: I think around the issue of the market itself, because
20:32
Speaker 1: if the market is not necessarily in which has been
20:34
Speaker 1: kind of sideways, you know, maybe this is enough of
20:38
Speaker 1: the evidence that we need on chair Pal's play to say, Okay, yeah,
20:42
Speaker 1: this is it.
20:43
Speaker 2: We think that we've paused enough.
20:45
Speaker 1: This is our chance to maybe start the adjustment here
20:49
Speaker 1: for the markets going forward. Now, No, we have a
20:52
Speaker 1: poll today and we'll try to get in some questions.
20:54
Speaker 1: I don't know if the guys gave me. Yeah, it
20:56
Speaker 1: looks like they gave.
20:56
Speaker 2: Me some questions.
20:57
Speaker 1: So we'll try to get into some questions. Drop some
20:59
Speaker 1: over on the real quick and I'll take a look
21:02
Speaker 1: at some of those. Let's go to the poll real quick.
21:04
Speaker 1: See here we go bitcoin. What happens first? So a
21:08
Speaker 1: new all time high. This is holding tight fifty six
21:11
Speaker 1: or sixty four. So you guys think maybe some of
21:14
Speaker 1: you forty four percent of you think we might get
21:16
Speaker 1: a little bit of a retracement holding in. Remember bitcoin
21:20
Speaker 1: overall has been on an upward sentiment trend for the
21:24
Speaker 1: last couple of weeks, so that is something that could
21:27
Speaker 1: still play into it, even though the key here, I
21:31
Speaker 1: think will be some of the data that we'll get.
21:33
Speaker 1: And also remember FOMC meeting that could have some indicators
21:38
Speaker 1: going forward to maybe solidify the rate cut coming into
21:41
Speaker 1: June or excuse me, coming in September.
21:43
Speaker 2: That'll be a factor. I think that could play into it.
21:46
Speaker 1: I want to get in some questions today if you
21:49
Speaker 1: are looking at bitcoin and ethereum, Ethereum and course has
21:52
Speaker 1: started a little bit of an upward move over this
21:54
Speaker 1: last little bit. The one to watch though, has been
21:57
Speaker 1: Solana continuing its climb. I'm really since back here at
22:03
Speaker 1: one hundred and twenty seven on July fifth, so not
22:07
Speaker 1: a bad move there for some of you guys that
22:08
Speaker 1: went in on Slana at that framework. It has been
22:11
Speaker 1: very positive too on sentiment data that we do. So
22:14
Speaker 1: by the way, if you're not in our diamond circle.
22:15
Speaker 1: You get access to some of those training tools that
22:18
Speaker 1: we use to track sentiment and some of the market movement, and.
22:22
Speaker 2: It's a great place. All right, So here we go.
22:24
Speaker 1: Let's go into questions. Joey says, I haven't heard you
22:26
Speaker 1: talk much about NFTs lately. Are you still bullish on
22:29
Speaker 1: the NFT narrative? I think NFTs in general, Yes, the projects,
22:34
Speaker 1: I'm still you know, kind of on the fence because
22:37
Speaker 1: I think it's going to take some time to develop.
22:39
Speaker 1: But I think what we're when you look at NFTs
22:41
Speaker 1: as a device, as a vehicle, an instrument. Definitely very
22:47
Speaker 1: bullish on that, and that's something that I think as
22:49
Speaker 1: we see more projects using it in a way that
22:52
Speaker 1: is unique and also in a position where it really
22:54
Speaker 1: makes a big difference on brand ip. Very bullish. Let's
22:58
Speaker 1: see what else will we is? Chris says, it's a success.
23:01
Speaker 1: Future president is going to accumulate bitcoin. Okay, Well, I
23:05
Speaker 1: think everybody looked at that speech maybe a little differently.
23:08
Speaker 2: I was looking at it a little bit more huhum,
23:11
Speaker 2: because I.
23:11
Speaker 1: Don't think he was completely prepared and it was a typical
23:14
Speaker 1: Donald Trump's speech. But you know, really understanding what is
23:18
Speaker 1: going on in the market. XRP price forecast after lawsuit
23:22
Speaker 1: three to five, that's not bad. I mean, Tim Evan
23:25
Speaker 1: have both are traders that we talk to mostly. I've
23:29
Speaker 1: kind of been in and out on XRP. You look
23:32
Speaker 1: at where XRP is right now, not a bad move.
23:35
Speaker 1: I mean it's holding that sixty cent range fairly significantly,
23:39
Speaker 1: which is not a bad one to be on right now.
23:44
Speaker 1: Jennay not old enough to vote yet, No, I agree.
23:47
Speaker 1: I'm not talking about this round. I'm talking about the future,
23:50
Speaker 1: all right. You have to think politically. You have to
23:52
Speaker 1: understand how these dynasties run, and that is you look
23:56
Speaker 1: at the Bombas, the Clintons, etc. You know, these families
24:00
Speaker 1: get into the potential of power, and I think that's
24:03
Speaker 1: an advantage.
24:04
Speaker 2: Jena will eventually be rolling into that.
24:06
Speaker 1: And I think the influence that they have also on
24:09
Speaker 1: Gen X and millennials are pretty big, you know, just
24:12
Speaker 1: in the sense that they understand how digital I feel
24:15
Speaker 1: like digital assets work. What's the sentiment on XRP. It
24:19
Speaker 1: has still been very positive, even though over the last
24:23
Speaker 1: couple of days it has started to slow. So I
24:25
Speaker 1: don't know if that's an indicator that we may see
24:27
Speaker 1: a replacement here on XRP. What else do we have,
24:31
Speaker 1: Baylor Bear says, is that a real Baylor Bear out
24:34
Speaker 1: of Waco, Texas. Baylor Bear, like, really Baylor Trump has
24:38
Speaker 1: a chance to win a vote for OURK just throwing
24:40
Speaker 1: it away. I think a lot of people would say that.
24:44
Speaker 1: Whale says, I love RFK, but you would be throwing
24:46
Speaker 1: away a vote. Trump supporters are young too. I agree
24:49
Speaker 1: with that. There are a lot of you know, we
24:52
Speaker 1: have kind of.
24:52
Speaker 2: Our own studio pool.
24:54
Speaker 1: We have people in that age range, you know, the
24:57
Speaker 1: under twenty five group, and we've asked them, you know,
24:59
Speaker 1: straight up, who's within your crowd, who's voting for who?
25:02
Speaker 1: And you're right, Trump is much more present than I
25:06
Speaker 1: thought he would be.
25:08
Speaker 2: Paul Bron do you really think Trump will get rid
25:10
Speaker 2: of gaz Arde One?
25:11
Speaker 1: Well, I don't think that he can do that as
25:14
Speaker 1: a president. Now, what will happen is he could step down,
25:18
Speaker 1: you know, just because of the fact that there's an
25:21
Speaker 1: administration shift, which is usually what happens. So anyway, Fear
25:26
Speaker 1: zero says, more downside with a two billion dollar dump
25:29
Speaker 1: from the US government could happen very rare you see
25:32
Speaker 1: XRP listed in the background of others.
25:35
Speaker 2: I don't know what you mean by that, Diesel.
25:39
Speaker 1: Oh oh yeah, okay, So when you're talking about some
25:42
Speaker 1: of the major mainstream medias, they have been listing XRP
25:46
Speaker 1: quite a bit. Actually, we've been calling that out for
25:48
Speaker 1: months on end. It's it's been up there quite a bit.
25:51
Speaker 1: Much more Slona's up there. I haven't seen some of
25:54
Speaker 1: the others. So I haven't seen like avalanche go in
25:56
Speaker 1: there yet, or Cardono or anything like that. Roanan network
26:01
Speaker 1: number one in DDA cross All blockchain is still very undervalued.
26:06
Speaker 2: Thoughts on that.
26:06
Speaker 1: I mean, we've had the Ronan team on many times.
26:08
Speaker 1: Probably it's probably not a bad idea to bring them back.
26:11
Speaker 1: I mean we've had Alexander talk about this at length.
26:15
Speaker 2: I don't know.
26:16
Speaker 1: I'm still on the fence there. Life with Darnell says
26:20
Speaker 1: Houses of Volatility on bitcoin effect it's used in payment
26:22
Speaker 1: meth Do you guys use bitcoin as a payment method?
26:25
Speaker 2: Really?
26:27
Speaker 1: I just don't know people will be using bitcoin as
26:29
Speaker 1: a payment method.
26:30
Speaker 2: I know that a lot of people.
26:31
Speaker 1: Argument with that, but I just you know, the transaction
26:33
Speaker 1: speed is not there. You think all of these are
26:36
Speaker 1: dead dot Avax whoa easy, No, I don't think I
26:40
Speaker 1: think XRP. Dude, No, I don't think any of those
26:43
Speaker 1: are dead. I mean Polka Dot, who knows what's going
26:45
Speaker 1: to happen there, Avalanche, strong community, Ate a strong community,
26:50
Speaker 1: Mattic getting some new life on what we're seing on
26:53
Speaker 1: boy market alone. XRP, you'll never kill that community. Can
26:57
Speaker 1: we reach one million and twenty twenty five? One million
27:01
Speaker 1: in twenty twenty five for bitcoin? I'm assuming that's what
27:03
Speaker 1: you mean. I don't think so. I don't think a
27:06
Speaker 1: million's in the card for twenty twenty five. Let's go
27:08
Speaker 1: eighty K. That's a possibility that we could see. But
27:12
Speaker 1: right now we're eyeing that seventy K mark. Of course,
27:15
Speaker 1: if you're not subscribed to the channel, make sure and
27:18
Speaker 1: get in right now.
27:19
Speaker 2: We're going to hit one more poll real quick. What
27:22
Speaker 2: do we have here?
27:23
Speaker 13: All right?
27:23
Speaker 1: We're you satisfied with Trump's speech? Everybody says no, meaninglessen pandering.
27:29
Speaker 1: Forty one and fifty nine says yes, good enough. Well,
27:31
Speaker 1: I think everybody looked at it in the sense that
27:34
Speaker 1: a campaign like the Trump campaign, along with the RFK campaign,
27:40
Speaker 1: acknowledged something that everybody's been yelling at the top of
27:43
Speaker 1: their lungs for a very long time, and they finally
27:45
Speaker 1: have acknowledged it. Just the fact that there is acknowledgment,
27:49
Speaker 1: I would agree that's a successful thing.
27:51
Speaker 10: Now.
27:51
Speaker 1: I think they need to educate themselves really try to
27:53
Speaker 1: understand a little bit more now. Granted, listen, these guys
27:56
Speaker 1: got a lot on their plate trying to run a country,
27:59
Speaker 1: a campaign, etc.
28:00
Speaker 2: Yeah, I get it. You have to go surface level.
28:02
Speaker 1: It's difficult to go deep on these things until you
28:06
Speaker 1: can build a cabinet, which is when you need to
28:08
Speaker 1: go deep. And that's important. So that cabinet structure is
28:12
Speaker 1: going to be huge. The selection on both sides is
28:14
Speaker 1: going to be huge for the blockchain and crypto markets.
28:18
Speaker 1: All right, if you guys, again, if you're not subscribed,
28:20
Speaker 1: do it now, get in on Diamond Circle. It's a
28:22
Speaker 1: great place to get additional content from me. I jump
28:24
Speaker 1: into our own little community over there. Little community. It's big,
28:28
Speaker 1: it's huge, but I'm in there all the time, communicating.
28:32
Speaker 1: We do prizes, all kinds of fun things within that.
28:34
Speaker 1: And of course if you're not following me on X,
28:36
Speaker 1: just do that. It's at Paul Baron, We'll catch you
28:38
Speaker 1: next time, right here on tech Path