Latest / The Paul Barron Crypto Show / Mt. Gox Crashing Bitcoin!🔥Crypto Market Still Bullish

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Mt. Gox Crashing Bitcoin!🔥Crypto Market Still Bullish · The Paul Barron Crypto Show

• 0:08
  Happy post fourth of July. A lot of things are happening right now in
• 0:11
  the crypto markets. Bitcoin selling off over the fourth and of course a ton
• 0:16
  more happening. Is this a little bit of an overreaction? There might be
• 0:21
  a silver lining in this one. You do not want to miss it.
• 0:24
  My name is Paul Barron. Welcome back into tech Path. As you guys
• 0:27
  can see today, I am out of the studio a little under the weather,
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  but that does not matter. I am here for you. I want
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  to make sure we cover a lot of what's happening in the news. There's
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  a ton going on, and I want to break down a lot of different
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  sectors and also potentials here, not only in crypto, but also in the
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  traditional markets as well as well as a little bit of politics. So this
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  is going to be a good one. Let's kind of jump over to this
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  first tweet. Bitcoin of course extending its decline and enters bear market territory.
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  Everybody calling this a bear market now twenty five percent recent all time high would
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  look at this and maybe consider this could be the case. However, you
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  think about what is happening right now in terms of the impact on the market,
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  it is not necessarily the thing that everyone is expecting, because this is
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  not retail selling off. This is in fact some of the biggest sellers out
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  there in the market. The other things that are playing into this. And
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  as I said, when you look at mount gox right now, and you
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  can see something here, ninety nine percent of mount gox is eight point two
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  billion bitcoin could be sold. This is kind of the number that everybody's been
• 1:34
  concerned about. Let's assume that's a number that everyone was selling versus what could
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  be coming. In a couple of points in the article right here, bitcoin's
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  been on the down trend for the entire month of June, logging nearly an
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  eighteen percent loss. That of course now down understand this is very controversible.
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  Based on the current and low demand, this will easily send bitcoin back into
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  a harsh bear mark. This is coming from an analyst looking at what we
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  could see as maybe that forty k number. All right, so I want
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  to jump over to this tab right here just to give you guys an idea.
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  There's the eight billion there, as you can see on mount gox.
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  That's the thing that everybody is concerned about in terms of the exit. If
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  you go further into the transactions. Let me zoom in on these really closely
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  so you guys can see them. There's the eighty four million happening. This,
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  of course, was thirteen hours ago. Continuation of that, another one
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  thousand, et cetera. What we're seeing, and there's one hundred and fifty
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  four million seventeen. OK. So you can see that it seems to be
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  paced. And of course many people would say, all right, well,
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  if it's being paced, that at least is a good sign for the markets.
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  Maybe this isn't necessarily a complete and utter push to the bottom, even
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  though I think a lot of these bigger holders might be in a position where
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  they could have done maybe an over the counter trade to not even affect the
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  markets themsels else. That's the thing that's kind of weird. This, of
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  course, is a tweet right here, just kind of showing the biggest liquidation
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  since the FTX collapse. So not necessarily normal in terms of market cycles,
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  but it definitely is I think, still a very resilient position overall. I'll
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  stay on the tabs here, and I want to go over to this topic
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  right here, because this is bitcoins decline causes major share drop with cryptostocks,
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  and of course we know who number one is right there, and that is
• 3:32
  micro Strategy. Shares plummeted six percent in pre market trading. Bitcoin mining firms
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  like Riot, Marathon all suffered losses five, six and eight percent respectively,
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  and then Coinbase also came down five percent. But that's not necessarily the story
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  on all the s and P and that's why I think this may be a
• 3:53
  silver lining in disguise. So let's just continue on. We'll take a look
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  further, all right. Another tweet I want to hit two is bitcoin miners
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  break records in twenty twenty three and four as the top sellers. As twenty
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  twenty four approach, the pace of transfers to exchanges intensified and impacted the excess
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  supply in low demand in the spot market. This, of course is normal
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  for what we've seen in the past in the market. Now remember you're still
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  putting in governments, and of course the mount Ox recovered bitcoin into the play
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  now, so it does change things up quite a bit. Germany is in
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  a very interest to imagine jumping the hardest asset in the world for currency that
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  is falling in value by design. Yes, that's Germany. And of course
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  they're selling their bitcoin right now for euros. You can see it in a
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  big way. There's a little bit of pushback on this when you look at
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  nation states. Not necessarily are we going to be dealing with nation states that
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  really understand bitcoin outside of what we've seen with El Salvador and some of the
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  emerging markets. But at the same time, I think there are there are
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  people rising in these governments that are starting to understand. And this is the
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  argument I have a lot with many people looking at just digital assets as a
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  whole is They argue that, you know, the markets aren't ready for it,
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  legislation's not ready for it, all those kind of things. This is
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  of course the German parliament member, her name is Joonah Kotar says the government
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  selling bitcoin is ridiculous, not sensible, but urges everybody. Hey, let's
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  kind of hold bitcoin as a strategy for our reserve currency. And there are
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  some interesting opinions on that. Even if you think about what Trump is saying,
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  all right, I want to jump over here to this. Of course,
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  mister Peter Schiff comes as Ethereum is also breaking key support. It's trading
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  below twenty nine hundred, down thirty percent from its March I think a crash
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  to fifteen hundred is coming. And it looks like these buying ether rumors couldn't
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  wait for the fact to sell. So this is the best fud I see
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  is coming out, of course, mister Peter Schiff. And let's go into
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  a little bit more positive news, and that of course is the Ethereum conference
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  coming up July eighth. This is going to be a big deal. I
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  think we're going to see some pretty interesting and amazing interesting too on July eighth.
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  I mean this is very good timing because we could see the eighth launch.
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  Also, remember next next week most likely will be at least a data
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  assignment that's coming in from Bloomberg. I get it they've been wrong before,
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  but the likelihood of seeing a July launch, I'm still very strong on that.
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  So and when I say July launch for the ETF so this starts to
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  point to things that are a little bit more positive. All right. So
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  some of the things that are going on right now is we've got to consider
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  the international situation. And when you look at the international situation, the UK
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  is one of the most I think important categories in fact, did you know
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  that the United Kingdom is the number two country in terms of viewership for this
• 7:00
  show. So you can kind of catch what's going on in the UK if
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  you look at just this most recent result general election results in twenty twenty four,
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  technonic plates are shifting. Let me kind of zoom in on this for
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  you guys a little bit and I'll show you a few things within this.
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  British politics have shifted after the Britain's resoundedly voted to put out an end to
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  fourteen years of Conservative rule and deliver a landslide victory for the Labor Party.
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  Now what does that mean a little different than what we've seen in the past.
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  There's Sunnach versus what we've seen right here with the new potentials with Keir
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  Starmer further down in here, look at this. This is twenty twenty four.
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  The red is the Labor Party. This was nineteen and that was seventeen.
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  So this is a potential long run for the Labor Party in the UK.
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  And if they get a long run, imagine the kind of impact that
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  they can make. Some of the impact that they've already started to move on
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  are things like this where you're seeing the UK, obviously the election could see
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  a focus on real world asset tokenizations and CBDC development. Now don't necessarily like
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  CBDCs, but the idea is that we would see more blockchain integrated technology from
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  a G seven country, and I think that's an important move in the right
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  direction. Another big move is this right here, and that is the Finance
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  Minister. What I'm showing here is a PDF of of course, Rachel Reeves,
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  who has just been put into this pitch position in fact, just as
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  of today. Now what this means. There's a couple of points I want
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  to hit to down here on page nineteen of this long report, and that
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  is this section right here, make the UK a global hub for securities,
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  and let's zoom in on that right there. Guys, Embracing tokenization could increase
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  liquidity, provide access to new asset classes and fractionalized assets, and strength and
• 9:03
  rees risk in management. Simply put, we could have a complete new strategy
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  around what the UK is doing. Here. I want to go to a
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  clip real quick, and this next clip is the UK Prime Minister talking a
• 9:16
  little bit more about the situation. Take a look apologizing to his party for
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  the scale of the loss. Kirstamara, a leader of the center left Labor,
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  will now become the country's next prime minister, with the opportunity after fourteen
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  years, to get its future back. So tell us what this all means.
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  What this means is that Kissed Armor is perhaps the most powerful prime minister
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  since Tony Blair in nineteen ninety seven. He's got a massive majority. He
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  can do what he wants, so basically what he wants to pass will happen.
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  I interviewed Jamie Diamond in London a few weeks ago and he just met
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  with both leaders and headline from that he said both of them are pro business.
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  There's also the possibility to take the UK a bit closer to the EU
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  again. The renegotiation is next year. It comes early in his parliament,
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  so he doesn't have to worry about facing an election immediately after it and what
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  that might do. I think the interesting business similarity is inflation. Inflation is
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  kryptonite for whoever's in power, and the difference you have here in the US
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  is at least the rest of the economy has been going well and it offsets
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  the damage that inflation does, at least partially. I always struck that you
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  said both the Conservatives and Labor are both pro business. Rachel Reeves expected to
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  be announced as the first female chancellor that check. We've had female prime ministers,
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  of course, but the first female finance minister. Today he gets to
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  pick his cabinets, so we don't know for sure what it is, but
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  almost certain she'll be Finance min She's very clearly pro business. So there you
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  see it. I mean, this is a big shift in global politics,
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  and that's the thing that is going to make I think a very intriguing landscape
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  among G seven country because they're going to be watching what's happening here. You
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  also have major elections shifting in France. This could be one of the most
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  volatile times in terms of political leadership that we've seen in our lifetime, as
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  they mentioned there on the Labor Party first time in forty years. I want
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  to go to this next clip because this gets into of course, our own
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  President Biden and his position as to whether or not he's even going to be
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  the candidate. This is a clip on what happens today. Is it his
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  last stance? Take a look, the donor class is abandoning him. The
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  members of Congress are afraid. The governors are afraid. I talk to them
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  and they're trying to figure out what the hell we can do. What is
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  he going to have to say tonight? And if he puts on a good
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  performances that changed the dynamic. He can't say I had a bad night.
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  He can't say he's going to have to say had a bad night. If
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  he doesn't say out a bad night, then what's he going to say?
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  I didn't do what I wanted to do. I didn't say what I wanted
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  to say. That's what happened. And you think that that ant you said
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  not to use the I had a bad night. No, you don't use
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  the words I had a bad knight. But you have to be able to
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  explain it away. But you don't think that he and Joe Biden are going
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  to ultimately have to anoint somebody. I don't believe he's going to go.
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  If he waffles, then they will push him out. I'm going to be
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  direct. God help me, you may nobody wants to knock out an African
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  American woman to be held responsible for that. And here's the issue. Her
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  favorability is still She's the most unpopular vice president since Dan Quail. All of
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  them would do a better job than she would because they get the public.
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  So this is a pickle for the Democrats. They have a you know,
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  they have a president that is in position of power, but unfortunately may not
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  even be making the calls here. And I think this is the thing that
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  will challenge the Dems. Do they let this run out out and just know
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  that there's a cabinet behind President Biden so that you know, because if they
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  say he's not willing to continue the race, maybe they are concerned that he's
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  not willing to serve as president. That would be a huge hit to the
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  market if he stepped aside and Vice President Harris came onto the scene. That's
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  the one thing I don't think anybody in the markets would like. So this
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  tweet is from Eleanor Tarot over at Fox Business and she's talking about a couple
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  of things Rokana's crypto roundtable. Obviously this would be in roads to the White
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  House and the Dems. And remember we've got Mark Cuban in on this.
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  It is I would agree it's the worst kept secret out there. We've talked
• 13:41
  about him many times. But there's a couple of points that I think are
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  important with this. You have to remember that this was done prior to the
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  debate debacle, and maybe at that time it was being looked at as a
• 13:54
  way to win the crypto vote. Maybe now it is a way for someone
• 14:00
  like a Rocanna or a Mark Cuban to simply say, Okay, listen,
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  you got to call the dogs off Chevron. Defference is flipped. We've got
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  to get the s CFTC and the SEC about the over these overreach and digital
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  assets. I think Cuban will definitely make that point. And could this make
• 14:16
  Biden look coherent enough to make these kinds of decisions and make these kinds of
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  conversations into a position where he could campaign and possibly stay in the race or
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  even have a position of potentially winning against Donald Trump if his position flips a
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  little bit on crypto. I know it's a reach, but I want you
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  guys to think about this is a very pivotal meeting for both Joe Biden and
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  the Democrats, maybe bigger than any of the other ones, Maybe bigger than
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  this interview tonight, because I think this is the interview is all show that's
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  going to be just something that, yes, if he shows up, which
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  is going to be well scripted, well edited. Sure, maybe people would
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  change their mind a little bit, but I think a real action is different,
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  and this meeting could be that for sure. All Right, So I
• 15:03
  want to jump over to the Tesla short sellers. They lost three and a
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  half billion in two days of trading after the deliveries report, which Elin of
• 15:11
  course smashed it on deliveries. And this is very bullish for the markets.
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  It's good for Tesla, it's good for Nvidia, it's good for the SMP
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  five hundred as a whole. Why are we not seeing these kind of moves
• 15:24
  of course here in the risk markets? And I think this is still one
• 15:28
  of those things that is preceding potential runs when you see games like this happening
• 15:33
  both in Nvidia, Tesla Meta. You can go down the list pretty significant.
• 15:39
  I'll stay on a couple of tweets here, This one right here,
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  just showing in Nvidia just broke a three trillion dollar market cap one hundred and
• 15:46
  fifty percent since Natalie Pelosi bought up five million of a call option back in
• 15:52
  November. Man, what a trade. Another tweet right here. Applestock has
• 15:56
  also started to record a bit of a so a little bit of move on
• 16:00
  Apple. You have to consider the S and P. Five hundred as a
• 16:04
  whole is really just in a good position, all right. Last up here
• 16:10
  is the Financial Services Committee hearing. This is hearing entitled the Federal Reserve Semi
• 16:15
  Annual Monetary Policy Report. This is where Palell is going to be speaking.
• 16:19
  It'll be interesting to see the outcome of this how it affects monetary policy in
• 16:25
  general. Because we haven't talked about interest rates in general. I think we're
• 16:29
  still months out before we do see a cut. A couple of points I
• 16:33
  want to hit on. Of course, Bitcoin right here as it starts to
• 16:36
  bottom out, even though that is right there was the fifty three six.
• 16:41
  One thing you guys will notice about this chart is this has a new indicator
• 16:44
  in it. This is our live MSI now, which is our Market Sentiment
• 16:48
  Index, is now layered in on all charts. I'll be doing a lot
• 16:52
  more of these kinds of analysis. We'll break down these, get a little
• 16:56
  bit more in the trenches with these in the future, not in on the
• 17:00
  diamond circle. That's places where you're going to get those kind of videos,
• 17:03
  additional content. And of course it's also where you can now be part of
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  our community, which is a brand new, shiny community program that is within
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  If you guys are not following me on X, make sure and do
• 17:19
  that. It's just app Paul Baron. We'll catch you next time right here
• 17:22
  on tech Path