Latest / The Paul Barron Crypto Show / Bitcoin Heading To $80,000?🚀Crypto Market Update
Transcript
- 0:07Speaker 1: Bitcoin now on track possibly to go to eighty k,
- 0:10Speaker 1: whether that is the end of the year or a
- 0:12Speaker 1: little bit further. We'll break it all down for you guys,
- 0:13Speaker 1: give you some insights to all that good stuff. My
- 0:16Speaker 1: name is Paul Barreon. Welcome back in a tech path.
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- 0:48Speaker 1: All right, let's go over to a first few hits here.
- 0:50Speaker 2: A couple of.
- 0:51Speaker 1: Points I want to talk to about is this statement
- 0:54Speaker 1: right here. Bitcoin's new price targets of over eighty K
- 0:57Speaker 1: may not actually.
- 0:58Speaker 2: Be the all time Hi.
- 0:59Speaker 1: A lot of people still believe we could see a
- 1:01Speaker 1: six figure bitcoin coming in in this bull cycle. Many
- 1:05Speaker 1: people looking at this. There's a couple of indicators that
- 1:08Speaker 1: kind of favor this position. But an item brought around
- 1:11Speaker 1: sixty nine thousand, assuming people bought bitcoin at twenty twenty one,
- 1:15Speaker 1: top would currently be priced around eighty K with the
- 1:19Speaker 1: current communative rate of inflation at sixteen point two.
- 1:22Speaker 2: So basically what I'm saying is.
- 1:23Speaker 1: Listen, you already, even if you've purchased as something because
- 1:26Speaker 1: of inflation, the value is still greater. So this is
- 1:29Speaker 1: one of the reasons that many people look at digital
- 1:31Speaker 1: assets as.
- 1:32Speaker 2: The only way out.
- 1:33Speaker 1: By the time we have our next round of printing
- 1:36Speaker 1: in the next sixteen to eighteen months, it'll be ninety
- 1:38Speaker 1: five K one hundred thousand nominal Bitcoin price obviously potentially
- 1:43Speaker 1: in the cards there. Bitcoin price up eighteen percent over
- 1:45Speaker 1: the last fourteen days, despite the September being as historically
- 1:49Speaker 1: bearish period and normally October October being one of the
- 1:54Speaker 1: periods that has been very high performing. Now bitcoin is
- 1:57Speaker 1: facing its final test before undergoing a bullish trendship. So
- 2:01Speaker 1: that's the question mark right now. We could be at
- 2:04Speaker 1: its final door step before we do see a bitcoin
- 2:08Speaker 1: as some of the other digital assets start to take off,
- 2:10Speaker 1: so it's currently looking to flip the resistance supply zone
- 2:14Speaker 1: at sixty five k as we speak and record this.
- 2:17Speaker 1: So we'll get into the charts turn a second and
- 2:20Speaker 1: just take a look. October has been one of the
- 2:23Speaker 1: areas that has always been looked at as one of
- 2:26Speaker 1: the greatest performing months of the year. And of course,
- 2:30Speaker 1: guess who else is performing well. That, of course is
- 2:32Speaker 1: Tether's market cap hits a record high. A lot happening there.
- 2:36Speaker 1: Market capitalization of USTT has been steadily rising in recent
- 2:40Speaker 1: weeks and months and is rocketed from about one hundred
- 2:42Speaker 1: and eighteen bill to one nineteen which is an a
- 2:46Speaker 1: new all time high.
- 2:47Speaker 2: So not slowing down.
- 2:49Speaker 1: Stable coins are only a good indicator as to the
- 2:52Speaker 1: fact that there's a lot of dry powder sitting on
- 2:54Speaker 1: the sidelines ready to deploy into what we think could
- 2:58Speaker 1: be a burgeoning bull market as well as an all
- 3:02Speaker 1: coin bull market coming at us very quickly. Most recent
- 3:05Speaker 1: rise follows a market cap increase of one point five
- 3:08Speaker 1: billion in the last thirty and of approximately thirty six
- 3:10Speaker 1: billion in the last twelve months. Imagine thirty six billion
- 3:13Speaker 1: going into that stable coin and the amount of money
- 3:16Speaker 1: that they're printing in terms of revenue. So again, tether
- 3:20Speaker 1: very very solid going forward. I want to go to
- 3:22Speaker 1: a clip real quick. This is Peter Dalen talking about
- 3:25Speaker 1: how much could be deployed by the end of this
- 3:28Speaker 1: year they could stimulate this market boom.
- 3:31Speaker 3: Take a look, Well, we can probably estimate that something
- 3:34Speaker 3: between five to eight billion US dollars might be deployed
- 3:38Speaker 3: between sort of like December to January to February. That's
- 3:41Speaker 3: when we think the creditors.
- 3:42Speaker 4: Are going to be paid out and that's going to
- 3:44Speaker 4: be a big driver.
- 3:45Speaker 3: So I think once we sort of like tackle this
- 3:48Speaker 3: election risks, election uncertainty that we're going through right now,
- 3:52Speaker 3: and you know, keeping in mind that September is usually
- 3:54Speaker 3: the worst months of the year for bitcoin and then
- 3:57Speaker 3: October is usually the strongest month. I think the avatry
- 4:00Speaker 3: return in October is something like twenty two percent, with
- 4:03Speaker 3: something like eight or nine out of the last.
- 4:05Speaker 4: Ten years positive. So he's coming into this area now
- 4:09Speaker 4: where sort of like once we've bottoming out that suddenly
- 4:12Speaker 4: we have more positive risk catalysts, meaning the US election,
- 4:16Speaker 4: meaning the FDx creditor payouts.
- 4:18Speaker 3: So it's actually quite constructive for a year end rarely.
- 4:22Speaker 3: Just we need to get through this short term monatility right.
- 4:24Speaker 1: Now, all right, So short term volatility, I think a
- 4:29Speaker 1: lot of people would agree with that when you look
- 4:31Speaker 1: at it October. Of course, he is correct. It's actually
- 4:34Speaker 1: nine out of the past eleven years. They're going to
- 4:36Speaker 1: zoom in on that for you guys, just to see
- 4:39Speaker 1: what's happening here with October. Some of the things that
- 4:43Speaker 1: you have to kind of look at is the historical
- 4:45Speaker 1: all the way back to twenty thirteen plus sixty. Look
- 4:48Speaker 1: at these gains during some of these months. That was
- 4:51Speaker 1: a really good one in twenty twenty one, which was
- 4:53Speaker 1: the best last bull market, up almost forty percent just
- 4:57Speaker 1: in October, So be ready. This could be the signal
- 5:01Speaker 1: going forward into this next bull run. It was the
- 5:04Speaker 1: time that we saw twenty twenty one happen. So definitely
- 5:08Speaker 1: want to keep an eye on. Another thing to keep
- 5:12Speaker 1: really a close watch on, and that of course is
- 5:14Speaker 1: the FED and its rate cuts, and of course you
- 5:17Speaker 1: look at the fifty basis points and where it is.
- 5:20Speaker 1: There's a lot of things that are trying to say, well,
- 5:23Speaker 1: you know, we've got a strong economy or it appears
- 5:25Speaker 1: to be strong, But if you look at some other
- 5:27Speaker 1: indicators that are starting to point at maybe a different viewpoint.
- 5:33Speaker 1: This is one statement I have a MAC review that
- 5:35Speaker 1: Jay Palin jenneyell, I want to juice the financial markets
- 5:37Speaker 1: to help Kamba Harris when election. This is you know,
- 5:41Speaker 1: Arthur Hayes. I believe they're trying to get the markets
- 5:43Speaker 1: to go even higher to make people feel even welter
- 5:45Speaker 1: as they get into the ballot box in November.
- 5:48Speaker 2: Could that happen in this short period.
- 5:50Speaker 1: Of time because we're only really talking about sixty days
- 5:53Speaker 1: out here. Inflation is going to accelerate after that point
- 5:56Speaker 1: because if people have been saying that the US governm
- 5:59Speaker 1: has been recklessly any money, how does it make it
- 6:01Speaker 1: cheaper for them to borrow to help that position? Well,
- 6:05Speaker 1: you know, that's the problem that I think a lot
- 6:07Speaker 1: of people are looking at is what is it really
- 6:08Speaker 1: going to do to the market if we get lower
- 6:11Speaker 1: interest rates? And how quickly we accelerate to that. Now,
- 6:14Speaker 1: most people are anticipating only another quarter and quarter, so
- 6:18Speaker 1: another fifty basis points by the end of twenty twenty
- 6:21Speaker 1: four going into twenty twenty five. Even though now people
- 6:25Speaker 1: are indicating that we may see a recession and we
- 6:29Speaker 1: may see a groundswell of shift of.
- 6:32Speaker 2: Attitude toward that.
- 6:33Speaker 1: So this next thirty to ninety days is going to
- 6:37Speaker 1: be critical for what this next bull run could be doing.
- 6:40Speaker 1: And we're going to bring it to you right here,
- 6:43Speaker 1: So you guys need to stay tuned on that.
- 6:44Speaker 2: Make sure.
- 6:45Speaker 1: By the way, if you have not hit the like
- 6:46Speaker 1: button right now, go ahead and do it.
- 6:48Speaker 2: Just hit the like button.
- 6:49Speaker 1: It does help us, and it also helps other people
- 6:51Speaker 1: discover videos like this. For sure, the FED must have
- 6:56Speaker 1: a confident consumer. This is one I think that everybody
- 6:59Speaker 1: agrees with. Is the FED kind of looks at, you know,
- 7:02Speaker 1: the consumer pal But it's really more around price elasticity
- 7:04Speaker 1: and you know the idea of inflation and what that
- 7:07Speaker 1: might mean. If you have a confident consumer, it usually
- 7:09Speaker 1: means that inflation is lower. And there's a couple of
- 7:12Speaker 1: points he's hitting at. I can't let consumer confidence crumbell.
- 7:16Speaker 1: This was looking back into the two thousand and seven
- 7:18Speaker 1: and eight financial crisis. Individuals were defaulting on home loans
- 7:22Speaker 1: left and right. Bank balance sheets were ballooning and the
- 7:24Speaker 1: assets were plummeting into value. That's something that we have
- 7:28Speaker 1: not seen yet in right now, at least in this
- 7:31Speaker 1: current market position. So the question is are we maybe
- 7:35Speaker 1: entering that zone. That's a really big question. Carne's built
- 7:39Speaker 1: consumers panicked, Americans felt their network declining and started to
- 7:43Speaker 1: pull back on spending. That caused a massive shift in
- 7:46Speaker 1: how the market adjusted. If you look at that chart
- 7:49Speaker 1: right there the University of Mexican Michigan on consumer sentiment
- 7:53Speaker 1: and the amount of decline it took in a very
- 7:56Speaker 1: short period of time, that would be the factor I think.
- 7:59Speaker 2: Going far if we start to see it's kind of like.
- 8:02Speaker 1: You know, a scenario where the market starts to see
- 8:06Speaker 1: that consumer sentiment starts its shift down and everybody starts
- 8:11Speaker 1: running for the door. And I think that's the concern
- 8:13Speaker 1: that right now maybe the Fed has they know what
- 8:15Speaker 1: type of havoc and loss of consumer confidence can wreak
- 8:18Speaker 1: on the economy. So the last thing I want to
- 8:20Speaker 1: do is see that happen again. Now, the question will
- 8:22Speaker 1: be this rate cut cycle, because really fifty basis points
- 8:26Speaker 1: between now and the end of the year, that's a
- 8:28Speaker 1: one point rage. You think about it. We've ran interest
- 8:31Speaker 1: rates up to over five percent. Being able to get
- 8:34Speaker 1: back down into a below three is going to be critical,
- 8:37Speaker 1: and I think we had Jim Bianco on last week
- 8:40Speaker 1: talking about that very scenario. Is that if we did
- 8:43Speaker 1: get the fifty, that the three point interest rate was
- 8:46Speaker 1: really the target zone? Does that mean that the Fed
- 8:50Speaker 1: is going to be more aggressively cutting in the first
- 8:52Speaker 1: half of twenty twenty five And if that does happen,
- 8:55Speaker 1: how do the markets respond to that?
- 8:57Speaker 2: Is this timed perfectly for this bull run?
- 9:00Speaker 1: So if you guys want to catch that and more,
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- 9:23Speaker 2: get in on that.
- 9:24Speaker 1: I want to go to another clip here real quick
- 9:26Speaker 1: because this will get into the next kind of frame
- 9:29Speaker 1: in terms of how much money is really on the sidelines?
- 9:32Speaker 1: Are we all deployed? Because remember the S and P
- 9:35Speaker 1: has hit pretty much an all time high. How much
- 9:38Speaker 1: money is left on the sidelines?
- 9:39Speaker 5: Let's take a look and when you look over all,
- 9:42Speaker 5: I mean, this is kind of like translating back into
- 9:44Speaker 5: what does it mean for your portfolios and what should
- 9:46Speaker 5: you do right now? I mean, you still have six
- 9:49Speaker 5: and a half trillion dollars in money market funds, you
- 9:52Speaker 5: do have inflation coming down, now, you have rate cuts,
- 9:56Speaker 5: and we're actually with record profitability when we look at
- 10:00Speaker 5: US companies earnings. So all of that is actually a
- 10:03Speaker 5: pretty constructive argument, even with a lot of these worries
- 10:07Speaker 5: that are on the table, whether it comes to election volatility,
- 10:10Speaker 5: the seasonality. I mean, the market is kind of telling
- 10:13Speaker 5: you with that backdrop that there's still a lot of
- 10:16Speaker 5: capital that wants to come into this market.
- 10:18Speaker 4: So the S and P continues to rise through the
- 10:21Speaker 4: end of the year.
- 10:22Speaker 6: I think we'll end up higher in terms of the
- 10:24Speaker 6: S and P five hundred. I think October we do
- 10:27Speaker 6: have to keep in mind that that is a challenging
- 10:29Speaker 6: month just given the fact that there is election uncertainty,
- 10:32Speaker 6: and so in every election year you tend to have
- 10:35Speaker 6: a negative October where people are just taking their gains,
- 10:37Speaker 6: taking chips off the table. But once we have certainty
- 10:40Speaker 6: into the results of the election, you.
- 10:42Speaker 5: Tend to then see a rally into the end of
- 10:44Speaker 5: the year.
- 10:46Speaker 1: All right, So that would be the real question, Marcus,
- 10:48Speaker 1: the rally into the end of the year. If you
- 10:50Speaker 1: look at the S and P right now, it is
- 10:51Speaker 1: near well, it's already hitting it's all time high at
- 10:53Speaker 1: fifty seven nineteen changing in right now. Another green day
- 10:57Speaker 1: on the move as we speak and record toward this.
- 11:00Speaker 1: But even over the last couple of days, we've started
- 11:03Speaker 1: to see another trend upward.
- 11:05Speaker 2: If you look at gold.
- 11:06Speaker 1: Also right there in that same very scenario, let me
- 11:10Speaker 1: kind of zoom in on this last little bit here
- 11:13Speaker 1: with where gold has been. Look at this rise right here,
- 11:16Speaker 1: just to give you an example of what gold has
- 11:19Speaker 1: done over the last let's say two weeks. Let's take
- 11:22Speaker 1: a look at where gold has been. And typically you
- 11:24Speaker 1: don't see these kind of percentage moves. With gold at
- 11:26Speaker 1: almost ten percent in a very short range, now, what
- 11:29Speaker 1: does that mean. There's a lot of people that are saying, well,
- 11:32Speaker 1: there's a lot of cash being deployed off the sidelines
- 11:34Speaker 1: now going into assets they think are going to potentially
- 11:38Speaker 1: position into a recession.
- 11:39Speaker 2: Which could be gold also digital assets.
- 11:42Speaker 1: I believe that's why we're going to probably see bitcoin
- 11:45Speaker 1: become part of kind of that next pase. Other things
- 11:48Speaker 1: that are playing into this, of course, is the political
- 11:50Speaker 1: landscape and all this kind of comes into where the
- 11:54Speaker 1: Harris campaign is on digital assets.
- 11:56Speaker 2: Well, guess what.
- 11:57Speaker 1: The very first time that digital assets has been mentioned
- 12:01Speaker 1: occurred this weekend and it was in a very kind
- 12:04Speaker 1: of nonchalant way. But I think that the president potential
- 12:09Speaker 1: president here is going to have to really position a
- 12:14Speaker 1: narrative that not only is strong, but convincing. And I
- 12:17Speaker 1: think that's going to be the question mark going forward.
- 12:19Speaker 1: So this was at a Wall Street fundraiser over the weekend,
- 12:23Speaker 1: Kamala Harris said she'd encourage crypto business while protecting consumers,
- 12:27Speaker 1: you know, still kind of giving herself an out to
- 12:30Speaker 1: fund the Shenanigans of the SEC.
- 12:32Speaker 2: We'll see.
- 12:34Speaker 1: Of course, you have Ryan Sean Adams coming in here
- 12:36Speaker 1: from Bankless. He's not buying it at all. I'm glad
- 12:39Speaker 1: Harris said something. But this progress is a grain of sand.
- 12:43Speaker 1: And I think if you look at to see what
- 12:45Speaker 1: Harris will do, look at the people's staffing, her future admin.
- 12:48Speaker 1: If you see a copy and paste of the bid nam,
- 12:50Speaker 1: well that's right, that's what is happening there is I
- 12:54Speaker 1: don't believe if we don't see a real shift in
- 12:57Speaker 1: the administration staff.
- 13:00Speaker 2: But also key positions.
- 13:03Speaker 1: That's the biggest part of it, key positions to change
- 13:06Speaker 1: the narrative coming out of the administration. I think this
- 13:09Speaker 1: is just gonna be a rinse repeat. The question is
- 13:11Speaker 1: does she even win the election. I don't think she's
- 13:13Speaker 1: going to.
- 13:14Speaker 2: But that's me.
- 13:15Speaker 1: I don't think she's going to. I don't think she
- 13:16Speaker 1: has the campaign to pull it off. Remember Hayden Adams.
- 13:20Speaker 1: Hayden Adams over at uniswap komologists said we'll encourage innovative
- 13:23Speaker 1: technologies like digital assets. I believe this is our first
- 13:26Speaker 1: time referencing. And then of course people are saying, hey, dude,
- 13:29Speaker 1: listen it. She's literally suing you right now. Come on,
- 13:32Speaker 1: let's read the room a bit. Guys, don't believe in
- 13:35Speaker 1: this right now. It is not a real thing. The
- 13:38Speaker 1: Democrats have not turned over to accept digital assets and crypto.
- 13:43Speaker 1: We are in a fight. Do not put your guard down.
- 13:45Speaker 1: Do not put your guard down, because if you do,
- 13:49Speaker 1: you will never become a bitcoin millionaire. Bitcoin millionaires are up,
- 13:52Speaker 1: and they soar. By twenty five percent twenty twenty four.
- 13:55Speaker 1: This is just another reason you should be in digital assets.
- 13:57Speaker 1: You understand what's going on. The FIATA is in full force.
- 14:02Speaker 1: We are seeing the kind of limitations of what it
- 14:04Speaker 1: does in terms of knownly inflation. But in the world stage,
- 14:08Speaker 1: I think this is going to be a factor that
- 14:10Speaker 1: many people just have to understand. Look at those Bitcoin
- 14:13Speaker 1: addresses right there, man, those are some people that played
- 14:16Speaker 1: this perfectly. Other things that are happening, of course, Michael Saylor,
- 14:21Speaker 1: the approval of options for IBID will accelerate institutional bitcoin adoption.
- 14:26Speaker 1: I don't know if it accelerates. I mean, sure, Michael
- 14:28Speaker 1: knows a lot more than me. I'm sure, But I
- 14:31Speaker 1: look at it in the sense it's just going to
- 14:32Speaker 1: make it more aware, and that most likely will accelerate
- 14:37Speaker 1: more adoption.
- 14:38Speaker 2: If there's more awareness.
- 14:39Speaker 1: Just because we're going to see some dejons now on
- 14:41Speaker 1: Wall Street playing the options game with bitcoin, and the
- 14:45Speaker 1: fact that this is now available.
- 14:46Speaker 2: That's a pretty big deal. That's a pretty big deal
- 14:49Speaker 2: for sure.
- 14:49Speaker 1: Look at the difference of his performance, so you can't
- 14:52Speaker 1: really go against it, but he's top ten performing stocks
- 14:56Speaker 1: in the S and P five hundred right there. That's
- 14:58Speaker 1: Nvidia right there. Nice if you're an Nvidia stockholder, but
- 15:02Speaker 1: if you are a micro strategy holder, well things are
- 15:05Speaker 1: a little different there.
- 15:06Speaker 2: Look at that difference. There a riska networks, Eli Lilly.
- 15:10Speaker 1: I mean this broadcom marathon, that's a pretty hefty group
- 15:15Speaker 1: right there. And of course Michael Saylor out performing all
- 15:18Speaker 1: of it. And he's not letting up either. I mean
- 15:19Speaker 1: he's coming in with another billion and bitcoin planned over
- 15:23Speaker 1: the next little bit. So we'll see if this plays
- 15:25Speaker 1: into the market if we do see a replacement down
- 15:27Speaker 1: before we see the eighty k last up here and
- 15:32Speaker 1: then I'll chart it out for seconds. But you've got
- 15:35Speaker 1: youth unemployment rising now. And this is the thing that
- 15:38Speaker 1: I think people have to make very clear assessment on,
- 15:41Speaker 1: and that is that if you have young people under
- 15:44Speaker 1: you know, at sixteen to twenty four, this is a
- 15:47Speaker 1: problem if we see a lot of the young people
- 15:50Speaker 1: starting to lose their jobs because why is that, Well,
- 15:52Speaker 1: they're going to lose faith in the system. What is
- 15:54Speaker 1: the opportunity for them to earn money and be able
- 15:58Speaker 1: to outpace inflation and possibly the idea of national employment rate. Well,
- 16:03Speaker 1: it's going to be digital asset, So I think that's
- 16:05Speaker 1: the factor that plays into this.
- 16:07Speaker 2: Right now. Bitcoin, let's take a look.
- 16:10Speaker 1: It's on a little bit of a flat day right now,
- 16:12Speaker 1: holding it the sixty three to four range. Over the
- 16:15Speaker 1: weekend it edged up slightly, and of course the big
- 16:18Speaker 1: news of the day, of course is Ethereum right there,
- 16:21Speaker 1: up almost four percent and climbing over the twenty six
- 16:24Speaker 1: hundred market. Into had hit twenty seven hundred for a
- 16:27Speaker 1: short bit. But it looks like eth might be beginning
- 16:30Speaker 1: its first real run here, so we'll take a look
- 16:32Speaker 1: at that. Of course, Solana just wrapped up their event
- 16:36Speaker 1: at breakpoint. Solana is a touched off of it, but
- 16:41Speaker 1: if you look at breakpoint, I would say this was
- 16:43Speaker 1: your run right there on the break point, you know, opportunity.
- 16:47Speaker 1: That was Friday the sixth, going through. Let's go over
- 16:51Speaker 1: here on Saturday, because that was technically Friday was the
- 16:55Speaker 1: last day. So that was a nineteen almost a twenty
- 16:57Speaker 1: percent move for Solana, trading at one forty four, so
- 17:01Speaker 1: pretty solid, even though it's regressed a little bit, but
- 17:04Speaker 1: it's pretty solid that it was trading at one forty
- 17:06Speaker 1: four and hit one fifty at one time, so a
- 17:09Speaker 1: lot happening there's still some other tokens that are moving
- 17:12Speaker 1: pretty heavily here. You've got near protocol up a lot today. Also,
- 17:16Speaker 1: you've got h bar making a big move after a regression.
- 17:20Speaker 1: This might be interesting to see. There's something brewing over
- 17:23Speaker 1: there with Hadera going to be on the lookout. iMX
- 17:27Speaker 1: up a lot, almost seven percent, but it has several
- 17:29Speaker 1: days in a row. Is iMX starting to finally come
- 17:33Speaker 1: out of the zone of that low that we've been
- 17:37Speaker 1: watching for quite some time, This little zone right here
- 17:40Speaker 1: finally breaking through so we could see a big upside
- 17:43Speaker 1: here for iMX.
- 17:44Speaker 2: All right, we're going to do We'll have.
- 17:46Speaker 1: Some trading videos for you this week. We've got a
- 17:48Speaker 1: lot happening. We've got some congressman coming on the show.
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