WELLS FARGO HUGE CRYPTO MOVE! RIPPLE XRP TAKES ON WALL STREET BANKS & SAMSUNG WALLET STABLECOIN

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 a 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. All right, folks, let's quickly start by taking a look at the price of Bitcoin, because I saw some comments, people are saying, Tony, what are you going to talk about the pullback and the price that we saw last night? And I had recorded yesterday's podcast ahead of the dump that we saw. But regardless, let's take a look. So Bitcoin currently trading just above $83,000 on the daily chart. What I highlighted just a couple of days ago was that the MACD had flipped bearish. I even put that in my newsletter and I said we could expect, you know, price moving downwards in volatility. But the important thing is that we keep these supports in place. So I even said Bitcoin could dump to possibly $70,000 and we would still be in an uptrend in a bull market. Why? Higher highs and higher lows. The higher lows being very important to maintaining that structure. But at this point, what's interesting, Bitcoin is still holding the support at $82,800. That is the May high, which we've been talking about, which I also put in the recent newsletter write-up, because that we need to keep as support so that we could go higher. And I had mentioned potentially into the $90,000 and then possibly up to $100,000. Not guaranteed. And remember, this is not a move to new all-time highs, just a strong early phase bull market bull run. And then we could see a very deep correction, possibly down to the $70,000. But again, that would mean the bull market's over. It's just a healthy correction.

I'm not saying that's how it's going to play out, but those are the possible scenarios. As educated investors, we want to be prepared for different scenarios. So let's say Bitcoin breaks this $82,800 support level. I think we go down to the $70,000 and then we build supports there and then we run back up to higher highs. But I do think, and I could be absolutely wrong, but I believe the higher probability falls on Bitcoin going up to the $90,000. I don't know if it will make its way to $100,000, but possibly $92,000. Then we see that big pullback. And that would be in line with what we've seen historically, that towards the end of Q4, usually markets correct, right? After a Santa rally, as they would call it. So let's see. It doesn't mean it must play out that way, but these are things I'm looking at. And obviously, all coins are going to follow. Now, from a weekly standpoint, the weekly chart, we're still on track. This is the chart we've been looking at for months upon months, while people were saying, oh, we must go lower. Bitcoin must go to 30,000, 40,000, all these things, right? But the weekly chart, very bullish. We got the bullish divergence continuing to play out. The MACD on the weekly is in full control by the bulls. The RSI is not in the overbought zone. So all good, right? And even the inverse of that, the USDT stable coin dominance, we see there's still liquidity that can make its way into the crypto market. So the RSI is not in the oversold zone, and the MACD shows the bears are in control. So the point is, as this goes down, the liquidity makes its way into the crypto market. And it's the exact inverse of the Bitcoin weekly chart. So these are the different signals we're looking at. And let's see if there's one more leg to go here in this respective rally. But again, we are in a bull market, we are in an uptrend, but expect volatility and corrections along the way up. All right, folks, we got huge news. Wells Fargo Bank is in talks with Kraken Exchanges parent company to provide crypto trading liquidity. Now remember, PNC Bank, Citibank and JP Morgan are working with Coinbase for these exact services. So you're seeing, again, the convergence of TradFi institutions and crypto platforms and exchanges. Very bullish. And these banks want to offer crypto services. Well, if they try to build this on their own, it will take years. So they're pretty much going and doing the white label service, right? They'll plug into an exchange, and then they'll build their service on the front end saying, hey, we offer crypto trading custody and all these things. And the customer wouldn't know.