BIG MOVE FOR BITCOIN COMING THIS WEEK! MAJOR BANK TO LAUNCH CRYPTO CUSTODY!

Tony Edward (0:05)

Hey folks, welcome into the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. I'm your host Tony Edward. On your way in, please hit that subscribe button, as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please be sure to follow and leave a five-star rating. Okay folks, let's start with the price of Bitcoin, because Bitcoin continues to chop. It's still moving sideways. We're waiting for that breakout to $90,000, and it might come this week. Here's why. We have a bull flag forming on the charts here, and similar to the bull flag that was setting up in September before that move up to $86,000. The same thing is happening here. And of course, the anticipated price point is $90,000 to $92,000. We'll see how high we go.

Many analysts are calling for this. Now, of course, it's not guaranteed. We're talking probabilities here. So, I believe there is a high probability of this going up to $92,000 before we see a significant pullback, maybe down to the $72,000 range. And this could be the end of year correction that we typically see, where you have the Santa rally into Christmas, and then a significant pullback into January, and then the markets start picking up again. We've seen this time and time again. Now, as mentioned, not guaranteed, but we're talking probabilities, and I believe this is the higher probability of playing out. And of course, the confirmation of that, or the validation of that, is the higher time frame. The Bitcoin weekly chart still looks very bullish, with the bulls in full control per the MACD. You have the bullish divergence still playing out. The RSI is not in the overbought zone, so there's room to run here, guys. So Bitcoin, though we are seeing at the moment, a bit of an uptick, but we have to see what the rest of the week brings us, because right now we're at $82,472. So patience is the key here. Maybe this is the week. If not, the following week, but keep an eye on the charts this week, guys, and I'll be sure to give you the updates. But I think we are going to move higher. And how high? That's the question. 90 to 92K, or possibly some people are saying 100K, but I'm going to lead more to the conservative side and say 90 to 92K. So let's see what happens this week. Now let's jump into some crypto news. $13 trillion Charles Schwab fully launches Bitcoin and Ethereum trading to its 40 million eligible retail clients. So they've been rolling this out in a phased approach. So now they have fully rolled it out, guys. So the onramps being set up by Wall Street and TradFi, Charles Schwab been around for a long time. If you guys recall, I interviewed the head of digital assets at Charles Schwab earlier this year, and they're going all in. So all the firms on Wall Street are in a race right now to integrate crypto, have a digital asset strategy, build crypto products, even launch tokenized stocks and more. So very bullish. Now look at this, Germany's largest bank, Deutsche Bank, to launch crypto custody. So across the globe, we are seeing massive institutions, stock exchanges, banks, asset managers and more are launching crypto services. So the rapid growth of the digital asset economy, including hundreds of billions of dollars held in stablecoins, is driving the bank's plans. Gerald Podolnik, co-head of Deutsche Bank's corporate bank told Reuters in a Friday report, Podolnik added that the move is part of Deutsche Bank's goals to achieve compound annual growth of 8% in corporate banking by 2028 The bank's custody service will initially support Bitcoin, Ethereum and select stablecoins, including Circle USDC, EURC and All Unity EUR, according to a September 16th press release. So this is really big folks. The banks are launching crypto services. What a time to be alive.

Moving ahead, Japan's three largest banks successfully complete their first international crypto stablecoin payment tests. So let me give you the details here. This included Mizuho Bank, MUFG Bank and SMBC.

So they announced that they have successfully completed a trial of their jointly developed Yenpeg stablecoin for cross border payments. So again, these banks are building crypto services. They're taking the blockchain technology and launching their own private blockchains, stablecoins and tokenization. So this is incredible adoption news. The trial ran for a week between the 17th and 23rd of July done in collaboration with Japanese tech firm TISI and Mitsubishi, UFJ Trust and Banking Corporation. The coin was set up under Japan's Payment Services Act, a comprehensive guide for stablecoin regulation with the three banks acting together as the principal trustees, also known as the issuers.