BITCOIN – CHINA GOES ALL IN! #Finance

how’s it going everyone it’s Sam China just went all in not on bitcoin specifically but on stimulus I want to go through this because they just announced more stimulus we have some interesting takes on the market right now we have Gary gendler saying that people are so excited

to work at the SEC that they’re the gold standard of federal agencies and we have celebrities selling all their Bitcoin and now they’re heartbroken because uh they’re at you know they’re at a loss because we went up $10,000 since they Panic sold and Gold’s hitting new

all-time highs let’s talk about all this if you don’t mind hit subscribe turn on the Bell notification underneath the CashNews.co so you can see future CashNews.cos just like this also let me know what you’re drinking Down Below in the comment section right now I have a water and

I do have a coffee as well you know it’s a little bit late to be drinking coffee but we have to make some CashNews.cos here we have to go through what’s happening in the market I need to stay alert here so again if you want to try out the link underneath the CashNews.co to Marx you can

trade this Market you can put in Long positions short positions you can get ready for this eventual breakout especially if we hit a higher high here if we can break the $65,000 Mark that’ll be extremely bullish we’ve seen the color: #1a73e8; text-decoration: none;">ETFs buy Bitcoin every single day have net inflows every single day since the rate Cuts so maybe we see another day you can see there’s there’s a lot of volatility right around this level with kind of bigger uh bigger Wicks recently because of

the fact that we’ve uh we’ve gotten rejected by the 65,000 right now we’re trying to break through and we’re right at the 200 day moving average so the body of these candles getting a little bit thicker but again let me know your thoughts on where we are in the market down

below and let’s get started here just a few days ago we heard that China went all in on stimulus sending Chinese stocks up 4% this included lowering policy Interest Rates and signaling more rate Cuts were coming cut cutting rates on over 5 trillion in mortgages like

pre-existing mortgages eased rules on Second Home purchases lowered the requirement Reserve ratios for banks pledged over 100 billion in Equity Market support and stated policy makers were studying a Stock Market stabilization fund basically able uh enabling

companies to buy back their own stock and getting money from the government to do so now there’s more news I say here Bitcoin will benefit from this and then just tag this China to give cash handouts to the poor so not only are they doing all that other stuff that we just talked about this

came a day after uh the other announcement that China is going to give oneoff cash handouts to people in extreme poverty before Tuesday um they announc this and uh they are going to stimulate the world’s second largest economy with these direct handouts they say the Ministry of

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance and Ministry of civil Affairs will issue living subsidies to disadvantage groups including very poor and orphans before the national day holiday next week supposedly they’re

Budgeting about $22 billion US doar uh for financial assistance and subsidies to people in extreme poverty orphans and the homeless this year as per government notice in April they have about four .74 million people living in extreme poverty so this would give them up to about

$5,000 or so4 to $5,000 to each person in extreme poverty this is actually a significant amount of money especially for someone in extreme poverty I wouldn’t be surprised if they actually up this to include more people but this is interesting because typically we’ve seen trying to kind

of do top down stimulus and uh this is interesting too because this is the first country that I’ve heard in a while that’s giving literal stimulus checks out to the public this may be part of the reason that Gold’s up again today just Relentless it hit just short of 2700 a lot of

gold investors quite happy about this as I covered just in yesterday or the day before the year to date on gold is about 30% 29% and the one year on gold is 38.2 three from the bottom nearly a year ago we’re up 45.9% so gold investors are extremely excited keep in mind bitcoin’s still

outperforming year-to date bitcoin’s up 43% and then on the one year on bitcoin it’s up 141% so still far outpacing gold but this does make some people wonder okay is this just going to continue to happen is there going to be more and more stimulus are we going to see more and more

money printing yeah we are I don’t I don’t know why people think we’re not going to see that this is not a bug this is the game this is a feature of what’s going to happen in the future and yeah we just got news of more stimulus now how does this affect the market well alt

and BTC pairs are at an important Crossroads let’s talk about this in a second but first a word from today’s show sponsor limits Express you know on this channel we talk a lot about how to invest your money where to put your money but but what if you could invest your money into a

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more um about earning an Income on Amazon you can use a link underneath the CashNews.co to book a free 30-minute Zoom call directly with the owner Kyle so right now alt and BTC pairs are at an important Crossroads if they get rejected by The Bull Run support bands which now have

fallen to the prior support level that we has that has since turned resistance that should allow BTC dominance to hit 60% before end of year last cycle final alt BTC pair capitulation occurred after rate Cuts began and they botom once quantitive easing began okay let’s just read that again

last cycle the final alt BTC pair capitulation occurred after rate cuts and they bought them once a quantitive easing began but last fomc Powell said that quantitive tightening will continue for now despite lowering Interest Rates they did the same thing last cycle rate Cuts began

in in July 2019 but quantitive easing didn’t happen until 2 months later this cycle rate Cuts began in September but quantitive easing is yet to begin so if we go by 2019 maybe it happens 2 months later in something like November so this is pretty on par with what Benjamin Cohen said before

which is he thinks Bitcoin dominance is going to top out around 60% but that’s going to happen later in the year based on 2019 that would happen in something like maybe October November so it’s an interesting opportunity right now A lot of people are screaming from the rooftops to bot

altcoins and honestly if you’re looking to get into altcoins this is probably the time to do it you don’t want to time it you don’t want to try to time it for the exact bottom of course that’s great if you can nail it but you don’t want to be too late once we start to

see some more quantitive easing because then everyone is going to be piling in and we’re going to see altcoins go up significantly now again that’s where if you want to play that if you want to play that possibility you could go trade something like I don’t know Doge Pepe Sheba

cas salana and you can trade it with your Bitcoin or with usdt or with you know these other Cryptocurrencies as collateral so maybe you want to do that but again you can get ready for those

big moves by leverage trading or just by spot trading as well there are several big buyers active right now hotle 15 Capital lays out some new buyers Mr 157 started with zero Bitcoin but now buying 157 Bitcoin looks like a couple times a day starting on the 23rd of course we

don’t know if it’s buying or just transferring but some pretty significant buys there you can see multiple buys each day from this person as well multiple uh multiple deposits most likely buys cuz otherwise you just deposit it all at one time right so 70 190 17 72 120 23 252 Etc this

wallet buying a significant amount as well 1,63 20 39 272 all within the last week and this all over a onewe period going from 139 well actually from zero Bitcoin all the way up to almost 3,000 Bitcoin so yeah I mean there’s some significant buyers right now obviously like I said gold and

Bitcoin doing really well this year Bitcoin for Freedom says fed is about to turn on the printer gold is reaching new all-time highs every day now gold is scarce but Bitcoin is finite if understand understand this but it will become general knowledge soon it’s a good point I I found this

really funny um Gary Gensler says I’m proud to work with the SEC staff the gold standard of federal agencies in 2023 our staff raided us among the best places to work in the federal government we serve investors and issuers while overseeing the

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Markets where they meet so they say Gary says we’re the gold standard of federal agencies I guess that depends on how you view that being one of the best places to work being rated that by your own employees doesn’t

necessarily mean that you’re the best uh you’re the gold standard of federal agencies I would think some of that would come with efficiency with fairness right that would make you the gold standard not necessarily how well you’re rated like if you’re a super cushy place to

work for and you pay people a lot and they’re not really held to a high standard your employees might like you but you’re doing a disservice to all the taxpayers so this is I just found ironic sauce Gardener I had never heard of who this was but this got a lot of attention so I looked

into it uh they are a professional football player as an American football New York Jets uh cornerback they say unfortunately I sold all my Bitcoin a few weeks ago and it’s up $10,000 now broken heart emoji I should have trusted y’all when yall said hdle toal yeah so it sounds like he

sold nearly at the very bottom like around 52 53,000 so really unfortunate for him but yeah you do have to have some resolve to be in this market something else pretty fascinating the SEC today called none;">Crypto mining a security all right I guess they don’t really understand what Crypto mining is obviously there are some people that try to make money for but does it meet the

hoe test I don’t know this is just fascinating to watch they seem to be digging themselves a deeper and deeper hole with the Crypto community and maybe with future presidents who knows I

mean there are some presidents that are quite bullish or some um some possible presidents that are quite bullish on the industry so I think they’re going to probably clean house depending on who gets to be the next president let me know your thoughts though thank you so much again you can

check out the link underneath the CashNews.co to Marx in case you want to position yourself in some long trades or short trades you know you can make your own decision thank you so much I’ll see you all in the next one