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Hello this is Matt on the moon Lambo Channel Happy New Year to everybody out There and we are off to quite a start as The crypto Market is just going berserk Right now absolutely insane and Presumably it's happening because of a Very widely spread rumor that there will Be approval of a spot Bitcoin uh ETF Tomorrow uh so we'll talk a little bit About that uh but Bitcoin rocketed above $45,000 and it's come down a little bit Since then for anybody that's curious at The time I'm recording this it is 7:48 P.m. uh central time that's my time zone Um Monday January 1st 2024 so who knows what the price is Going to be by the time you saw this I See this video uh you are future people I am past mat so you know more than me By now but uh it got Bitcoin got high as 4,387 bucks and the rest of the market Behaving about the same everything's Responding very positively to this Including Xrp um so anyway we'll share with you Some of the latest on this and this is All I'm covering in this video because This is where the excitement is Obviously now but before going further I Do want to be clear I do not have a Financial background of any kind I am Not offering Financial advice and you Definitely should not buy or sell Anything because of anything I say or
Right I'm just an Enthusiast who enjoy Is making YouTube videos about crypto Related topics but just as a hobby and Just for fun so here you can see xrp 63.5 cents Bitcoin currently at 44,800 69 bucks I won't be surprised if it does Creep back up above $45,000 uh here is a post though from a Scott milker known as The Wolf of all Streets one of the most well-known guys In all of crypto 925,000 followers on Social media platform X and uh this Morning he simply posted the following ETF approval tomorrow that's the Rumor and so look just to be clear I'm I Mean it could happen like I it is an Actual possibility I'm not convinced That that is what's most likely to occur Tomorrow I mean look I think that you're Going to get a bunch of uh uh the the Applicants approved all at once but it's Probably going to be uh between the 8th And the 10th and there's we've talked About that in the past um but markets Are speculating that it could happen as Soon as tomorrow and so to me I think It's reasonable to suppose that's why We're seeing fireworks tonight uh in Terms of Bitcoin price action then the Whole Mo Market's moving in tandem um And then just a little bit ago 6:33 p.m. Central Time uh Scott also wrote Bitcoin Is trading like an ETF is about to be Approved now that's for damn sure I mean
Bitcoin 24-hour low 42384 bucks so it it Had a from that bottom to the top within The last 24 hours it's increased $3,000 just over $3,000 that doesn't happen every day That's a big ass move yeah so I would Not be surprised if this is actually What's fueling this all now here's what Fox Business bus journalist elanar Terret had to say uh she Reposted what Scott Mel wrote saying That the rumor is that the ETF is is Going to get approved tomorrow for Bitcoin and that that's widely spread But uh here's what El had to say while The SEC is surely unpredictable it would Surprise me if approvals were to happen Tomorrow from what I understand through Conversations I've had with issuers the SEC still has to review all the changes Made to the s1s filed on Thursday SL Friday and make comments on them if the SEC follows a similar approval timeline To the eth Futures in October the agency Will after this round of reviews Communicate to the issuers a date they Want the final s1's to be filed and make Them effective in the subsequent 24 to 48 hours SEC staff has been off since Friday so a Tuesday or even a Wednesday Approval seems tight but we shall see Regardless the next two weeks will be Exciting for crypto and so I think what She's saying is making a lot of sense
It's not that it couldn't we could get Word I acknowledge that that we get this Approval I just don't see it as the most Probable and as she pointed out here These people uh they were just they were Just off like for since since Friday are They and there's a lot of paperwork Still to do are they actually going to Have it ready Tomorrow H kind of skeptical on that Here's a headline from B crypto SEC Grapples with significant paperwork amid Bit coin ETF deadline as the deadline For the spot Bitcoin exchange traded Fund approach is on January 10th the United States Securities and Exchange Commission is reportedly swamped with Paperwork despite the imminent deadline Black Rock an asset management firm Vying for approval of a Bitcoin ETF Reports not having heard from the US Regulator and so folks uh the fact that They hadn't heard from that in and of Itself is not alarming or surprising It's not that the SEC has just been Putting on this show and they're not Actually going to prove this this thing Uh I don't think that's the most likely Thing here I think it really is they've Just been busy and they have a lot of Catching up to do anyway peace continues According to a recent report from Fox Business's Charles gasparino Black Rock Has not received any communication from
The US regulator this suggests Substantial pending work before a Decision is reached in just a few days Quote people at Black Rock say it's Radio Silence from SEC eler terret Source say sources plural say the amount Of paperwork the SEC still needs to go Through uh make the announcement likely Toward week's end so that's the end of The quote so uh it's certainly plausible That we could see a decision by the end Of this week doesn't mean it's going to Happen I me and so what I see almost Everybody betting on uh that is is in The no even in the least is January 8th To 10th but we'll see what happens we We'll see what happens uh now as far as The impact look xrp is going along for The ride period like you're you're even Seeing today with all of this this hype Out there Obviously uh you know people have been Buying the rumor that's that's what I Think this is anyway I think that this Is people buying the rumor that's why Bitcoin popped over $445,000 today and I Do think they're going to sell the the News so even if we get a big run and I Keep saying this even if we get a big Run I still think shortly after that We're going to see a major move to the Downside and I'm happy to be wrong I Don't know for sure nobody knows for Sure uh everybody you know feel free to
Take a stab at this so we'll just see Who ends up being right in the end um But that does seem to be what's Happening um so there is perspective From Economist Alex Krueger and I think He's like I think he's just nailing this One uh here you can see the headline Economist Alex Krueger issues Bitcoin Warning says this could send prices Crashing after spot Bitcoin ETF approval And it sounds more scary than it Actually is well check this out widely Followed Economist Alex Krueger is Issuing a warning to Traders about Bitcoin saying that the crypto King Could crash after the approval of a spot Market exchange traded fund in a lengthy Thread the analyst tells his 158,00 followers on the social media Platform X that he believes the US Securities and Exchange Commission Approving spot Market Bitcoin ETFs will Be a sell the news Event Y I think he's Nailing it according to Krueger the top Crypto asset by market cap will see an Immediate rise after the expected Approval date in January but the rally Will be met with with profit taking Quote Bitcoin ETF base case scenario Number one win January 8th through January 10th number two immediate Reaction up on approval rationale Currently 90% priced in and so yeah so I Think the same thing I don't think that
The news breaks and then it just starts Plummeting that seems kind of silly but I do think there's going to be a lot of People uh recognizing this is the time To take some profit and so you know back When Bitcoin was like 25 26 $27,000 it Was pretty easy to argue and I did that I didn't think that uh you know any sort Of ETF Bitcoin ETF approval was was Really priced into the market any sort Of meaningful way but now it's hard to Argue that it's it's I mean over for for Look we went from $25,000 for bitcoin Price to over $45,000 pretty damn quickly relatively Speaking and and yeah it just it kind of Makes you wonder is this the reason are We just pulling price forward cuz like If you believe in the for year cycle Like is it the case that you know we Would have seen Bitcoin go this up this Much anyway but just it would have been A little bit later we just pulling some Of this activity forward purely because Of this and I don't have the answer but It's reasonable to to ask anyway then he Says number three follow-up drop below Preapproval Point into launch two weeks Later cleaning up all late levered Monkeys rationale uh Market is very hot Now with altcoins funding in the 20 to 60% and Bitcoins March future Futures Annualized basis around 17 to 20% there Uh note there is no official date for
The launch it could be days after Approval or much later though given how Many ETFs are in the race sooner rather Than later makes more sense end quote The Economist says that strong inflows After the launch of an ETF could help Push bitcoin's price up however if the Inflows are weak or if the ETF bids get Rejected he says it could cause the Flagship digital asset to plummet quote Number four post launch strong inflow SLV volume reestablish the upward Trend Or if weak send prices crashing as Front Runners need to dump into few bids be Warned that if by chance the ETF gets Rejected prices will rapidly collapse Good idea to have alerts on in January End quote Yeah so that seems totally Possible too I mean there is still a Possibility I acknowledge this you you Could see the SEC outright deny every Single one of these damn things I just Don't think it's PL like I don't think That's remotely likely because the SEC Is Behaving incredibly different than they Ever have in the past all these meetings All the back and forth all the open Communication with all these applicants That's never happened Before just and also on top of that Don't forget they lost that lawsuit with Grayscale like the writing's on the wall They know they have to do this so there
Just going to get in more and more Trouble and then they'll just have a Litany of of new lawsuits if these Things don't get approved and they'll Lose so it's like what's the point you Know but you sure but still it's the SEC And they're a bunch of ass hat Pricks so I can't rule it out you know they Actually they actually could for Whatever moronic reasons actually deny All of the applicants okay in which case I'll I'll seriously wonder why they were Doing what they were doing because that That wouldn't make sense to me um and Then there's so okay but let's just Assume it gets approved well what Happens after that well like Alex Krueger brought up here uh it is to some Degree going to depend on inflows and so That's why I wanted to highlight like This because look like like I keep Saying yes there's the idiot liming Retail speculators out there that calls All the volatility that makes it Possible for us to achieve life Chang Wealth in crypto and so I make fun of Them even though I appreciate that they Exist because without them there would Be no volatility there wouldn't be this Opportunity they're still going to do Their own thing they're going to keep Acting like idiots like you can always Count on retail to act like a bunch of Raving lunatics you can absolutely count
On that but there's another side of this Like I've been saying there's real Institutional money really going to be Flowing in and and opening up the Floodgates like it is a real thing so Even if it's not like snap of a finger And now all the money's in Bitcoin Because I don't believe that there's Some people that believe I think that's I think that's nonsense too but if there Is sufficient demand if there is in 2024 yeah you better believe this Thing's going to move up and so here we Have this headline and so this just give You a little taste of what could be Coming from the daily huddle bitwise Says unnamed investor plans to seed $200 Million into to asset manager spot Bitcoin ETF SEC F so this is an SEC Filing here you have bitwise saying oh Yeah well we got somebody who wants to Invest $200 million into our spot Bitcoin ETF if the SEC approves it if The this is one entity and and you know That typically uh it's you know it's Estimated that whatever amount of money Flows into Bitcoin uh you can expect That to you know increase market cap by Five to 10 times that so the like Get bit up that much and again this is One entity from one Applicant so if you do see a ton of this In 2024 it is plausible that it would Shift the supply and demand dynamics
Sufficiently that you could see a crazy Rally but um I I think what's most Likely perhaps is that just more so over A span of many years and especially Decades it's going to have a truly Meaningful impact uh I'm always just Less optimistic in the short term even Though I understand the genuine Significance of all this um but but I Will also say even without that even Even if there this this wasn't the rumor And even if there were no firms applying For a spot Bitcoin ETF this is still the Time to be excited the four-year cycle Is still a Thing and you know just look what's Happening with stocks and crypto follows So we'd still have that regardless right This is just a hypey thing but anyways Piece reads as follows crypto asset Manager bitwise says that an unnamed Investor wants to ceed hundreds of Millions of dollars into its planned Spot Market Bitcoin exchange traded fund According to a new S1 document filed With the US Securities and Exchange Commission an unidentified investor is Planning on seeding $200 million into Bit wise's potential ETF though no Binding agreement has been made quote an Unnamed investor has indicated an Interest in purchasing an aggregate of Up to20 million $200 million of shares Uh in this offering from authorized
Participants or or APS for short or in The marketplace through broker dealers However because indications of Interest Are not binding agreements or Commitments to purchase this potential Purchaser could determine to purchase More fewer or no shares end quote okay And so this is what I'm getting and this Is why when Alex ker said what he said I Firmly agree I'm I'm on the same page With what he's saying right here and This is I know this is anecdotal of Course but there if there's a ton of This type of activity if there's Interest it's going to show it will be Reflected in the market it's just it's Just the case that nobody knows for sure But I tell you this black rock think That there're going to be sufficient Demand or else they wouldn't be doing This they think this is going to be a Massive Money Maker for them massive Massive massive so we'll see what this Looks Like anyway uh peace continues according To Bloomberg analyst and ETF expert Eric Balunas the $200 million amount dwarfs That of the seed money for Black Rock The world's largest Asset Management Firm which is slated for just $10 Million quote bitwise S1 has been filed And it looks like someone I wonder who Is going to seed uh bitb with $200 Million which blows away black Rock's $1
Million that we know of that's going to Be a huge help in the early days of the Race no AP named but probably Forthcoming end quote yeah and so that Doesn't necessarily mean anything in and Of itself because uh Black Rock is going To do what Black Rock does and they're Going to sell the hell out of this thing That's why they that's why they have the People they have working on this like They're going to absolutely and like the Level of marketing all the Advertisements yes so just because There's a $10 million figure versus bit Wise's $200 million figure right at the Gate I don't think that matters at all Just my personal opinion so we'll see What happens here um hey there you go Bitcoin back over $45,000 as I'm Wrapping up this video it's now 8:03 P.m. Central Time So wow this is going to be banana So by the time this thing goes like Where do you think this is going to go Because what what I mean it's Bitcoin Could pop to over 50 Grand if we get This positive news who knows how high it Goes I wouldn't be surprised but again I Still do think it's a sell the news Event even if we see that but uh but Again I don't care that that won't to me I won't think for a moment that Indicates that the part's over it's just Markets get hot people are too exuberant
So on and so forth and you know let mean Retail spec lers are just stupid like They just they they make important Financial decisions based on emotion and Excitement All That Jazz but no matter What happens no matter what happens you I agree with h turret the next couple Weeks in crypto are going to be super Interesting but truth be told I think The entire year is going to be really Interesting and the first half if the Blockchain backer is right he may very Well be we're going to See like for a lot of people truly Life-changing wealth and I know he Doesn't think that bitcoin's going to Get a new alltime high and he may be Right but uh I don't know I don't Pretend to know but either way there's a Lot of opportunity I I still think You're going to see altcoins run like Crazy like it's just it's going to be a Fun year I I really enjoyed 2023 this is Going to be an even better year I Personally believe we'll see what Happens or famous last words I'm not a Financial adviser you should not buy Yourself anything because of anything I Say or right that would be a very very Very bad idea until next time to the Moon Lambo
