🚨IS THE US ELECTION STOPPING THE CRYPTO BULL RUN? (BITCOIN PULLBACK)
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Mccoy has pulled back to sixty eight thousand dollars. What's happening? Where is this bull market? Is that the election uncertainty that's causing all these problems? I'll share my thoughts, the charts and what other expert analysts are saying. Let's get into IT.

Hey everybody, welcome into the thinking crypt to podcast your home for crypto currency news and interviews under your host tony abbot on your way in please that subscribe but as walls a thumbs up but and leave a comment below if you're listening on a podcast platform such a spottier y your apple, please leave a five star rating and review books. Lets talk about bitcoin because IT pull back significantly. IT went below sixty eight thousand dollars.

However, when you look at the daily chart, we are still seeing higher highs and higher lows. However, this law that I put in is dangerously close to the higher law that was set before. IT hasn't broken IT and IT hasn't been invalidate yet.

But we have to make sure that we are looking at both the bullish and the bear arrow. Now I person believe based on the chart movement, based on what's happening with the dxy breaking down as well, the bitcoin will continue to move upward. But i'm also prepared for if this gets invalidate and then we have to go back to the drawing board.

Now from a micro o standpoint, when we're looking at the, let's say, six month or yearly perspective, we are still on track. And this boll market, there hasn't been any major in validation. And as we've been seeing, big coin has been crawling its way out of this accumulation zone.

And IT, of course, last week touch seventy three thousand dollars, and that's a very good sign. So it's knocking at the door to break out of that all time high set earlier this year and an enter into a Price discovery. Now of course, we can't really look at all coins.

We have to look at bitcoin. It's the measuring stick that we have to use because the liquidity generally enters big coin and then IT flows down to the all coins. That's not to say liquidity can come in directly to some all coins.

We've seen that like long and swe and south, but generally for the entire crypto market to move, we need bitcoin to have that strength and to bring in a ton of liquidity. So we have to pay attention clothes at the charts over the next week or so because the election, as i've been telling you guys, is causing a lot of uncertainty and you're gonna a lot of volatility. And this is true for all markets.

Um it's not just true for crypto. So once the elections are the way we're going to see less volatile in the market and people can start focusing markets versus politics in the election and so forth, um here's what different analysts are. Same one, analysts said the following.

Don't panic. This can be nothing but a casual bullish retest of its two hundred and thirty days diagonal resistance speaking a big coin. And if you look at the chart here that are they provided can see, uh, IT is within the trend and the structure here.

So uh, the analyst, if this holes we can get continuation. If IT fails, sixty four k and sixty k are next. He says, personally, I bet on bullish continuation. I'm of the same mindset, not because i'm biased, but because of the technics s in the charts and what the macros doing and what we seen historically from a seasonal standpoint.

But once again, there is a barish case that if this fails, we could trigger a series of all of the events and we have to go back to the drawing board. So we want to keep IT baLance. Now even before bitcoin broke down here, crypto wizard had cheered a charge on october, highlighting that this was gonna be a Normal move for biquet.

IT would pull back to about sixty A K because I made a huge move, uh, up to seventy 3k and he had said at that point， the descending channel in bitcoin has been broken out after eight months. A break out above sun y two k opens the door to a new time high eighty two k any highlighted here, a retest of that support level. So this was something that was not off the table or out of the conversation here.

IT was a possible scare. IT didn't mean IT had to happen. But I were talking probabilities here. The crypt wizard also shared a macro o chart here, zoom ing out showing the different uh market cycles and their relation to the election.

So showing where where we're at here for the twenty twenty four election showing we were we were added in twenty twenty for that election in twenty sixteen as well. And you can see bitcoin had not really put in any major gains, mostly retracing to its prior all time highs. That's pretty much where we're at.

So we need this election out of the way. I know I keeper repeating myself, but uh, we've seen this before. This is not unusual, and the only thing that's a little bit different is that big coin hitting new all time high before they having at the beginning of this year.

So IT put us ahead of schedule, but this slow down and boring zone and accumulation zone is putting us back on track. So once get no major and validation of the bull market, uh, i'm here to make money. So I don't have time to play games.

I don't i'm not here to lie, you guys to get views of whatever IT is. I want big coin to go one hundred and fifty k and now will be game changing, not only because I hold big coin, but for all coins. So i'm in the same boat as you guys.

I know I can be frustrating. I know I can be painful, but h, this is where patients is so important in investment. Now, Jason piano, who's a great analyst guys, are highly recommend.

You followed him. He's on twitter, but he's also on youtube. But I listen to a lot of his content, he said.

The U. S. Election twenty twenty four update IT doesn't look like this.

U. S. Election will be a clear trump win, which the markets, U S.

Staff markets and bitcoin have been prepared for over the last week or soup. We know the elections been quite a tight guys. Some of the polling and so far show this.

Now i'm going to get a lot of comments. People are going to say you are an idio. Trump is clearly winning, right? People are in their own bubbles, and they only only hear things that validate their bias.

The point is until election day, the results are in. We don't know if IT is not that clear. It's very tight. And i'm not saying haris is going to win, maybe chop wins.

But the point is we don't know and we have to wait for the results, and we're not here to invest with our emotions and get emotional and worked up and trigger. Let's look at the data. Let's look at what's happening.

So Jason continues. He says, if Harris wins, the markets will likely freak out in the direction of the current turn down. However, they'll eventually realize that the massive amount of this money coming will pump the markets once again.

And this here, folks, what Jason is saying is the ma cro factors people call so called up narratives and so forth. But at the end of the day, bitcoin is not correlated to trump. Bitcoin is not correlated to republican.

democrat. Bitcoin has pumped on the obama, trump, biden, so on. And so IT doesn't care who the president is. What is correctly is global liquidity and the money printer folks.

Why the money printer fees, global liquidity, the the fight system we live in, they will go back to printing money. I will tell you guys for a year now, they cut rates, they go back to Q, E. It's a process IT doesn't happen overnight, and that's what drives markets.

Yes, there are other factors and the drive, evaluation and demand for a stocks and different things because companies have great earnings, new technology up. But at the end of the day, the main factor is the denominator, the U. S. Dollar, which they continue to debate and continue to print more of. And guess what, they're gona continue doing folks as they cut, raise and keep raising the that silly print money you deserve .

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So Jason is saying in the short term, you may see some downside pressure because there's this narrative out there that trump is gna be Better for a big coin encrypt and so forth. But at the end of the day, bitcoin, ency, pto will continue to move because IT is correlated to the money printing. So watch the m two money supply from the fact, watch global liquidity.

That's what i'm looking now as i've said many times, uh, trump would I think be Better for crypto businesses for my clarity standpoint. But asset Prices are not the on trump. So h if you are running with that narrative, you're missing the mark.

Your you're not looking at data. You're looking at your feelings, your emotions, your bias, your political bias and so forth. And both democrats and republicans print money that the physical we love IT.

So Jason continue saying so expect volatility while swings with upside to resume. He says, if Harris winds, dump a little range and pump. If trumps probably pump, then pump more.

Both are still bullish, medium to long term. Both have the same and game, just a different path to get there. So this is what people who study data and analytics and status are looking at, not their emotions, but what the correlation is.

A for the asset Prices, he says, overall, my analysis has not indicated any change in the cycle. Therefore, I expect higher Prices with more volatility as IT is the winners curse phase of the eighteen years cycle. Something i've been covering for many months now.

Be sure to check out his his channel guys. He covers a lot of stuff. And once again, this is not emotional. This is not a politics. This is markets and liquidity and uh, what the fed is doing and what other central banks around the world are doing. So please understand me.

I am not trying to say don't go vote for the candidate you love you want to vote for uh, because there's many other issues that vote on. But when he comes to things like asset Prices and markets, there are true fundamentals that you need to pay attention to and understand how they work. So um i'm in a full agreement with what Jason saying here.

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Now we know a veck understands cyp to, we know trump is for a crypto and much more jd events and all these guys understand IT. We are seeing a lot of trade folks are now launching an ARM to investing Crystal building with cyp deal and much more so, strive enterprises. An acid manager cofounded by former presidential candidate in current trump surrogate vivid rama swam announced decoration of its wealth management business.

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And are they creating financial products they are building with IT and much more is prety incredible. Now check this out. U.

S. Government seeks to return thirty million dollars in political donations from former fx executives this is interesting. The U. S. Government has been given more time to negotiate with certain political action groups over the return of up to thirteen point two five million dollars in donations made the names of former F T X executive sand back my freed in the shot, saying a recent filing shows the political groups in question are mostly democrats alike and include senate majority pack a Emily's less slash women vote in the future four pack which received six million dollars.

Singh was recently sentenced to time serve in three years of supervised release along the former F, T, X, engineering director to avoid prison time. So we're seeing some clawed back here of those, uh, political donations. And this was the topic remembred to speaking to Anthony, scared mute about um when I did an interview with him and it's fascinating.

Let's see how much more day pulled back and remember magazine waters with huggy up, uh S B F blowing him this stuff like that because he was doing big donations to the democrats. Now don't get me wrong, he also donate the republicans, but the majority of his donations were to the democrats, and I really buying, and the democrats were in office around the time, but when he was making his rounds in washington, D. C.

But of course, he was committing epic fraud, stealing people's funds and much more and he was meeting with the S, C, C. And gary cancer and they did nothing to stop all this nonsense but thank goodness. Um we're seeing some resolution here.

The background cy proceedings are happening where people get back some money and H, S, B, F is in jail. All of his partners in crime, uh, Caroline and all these folks in jail. So, uh, the nature is healing, folks.

Now, apparently there were some rumors that tether was launching its own block chain. And tether, C, E, O, polo are, we know, cleared up the rumors saying I hear again few rumors about a thousand chain. Teller is not planning to build an official blog k chain this time simply different l two solutions are working to support usdt for gassy.

So um I don't know who started a rumor, but they trying to say tother was going to launch its own block chain or whatever IT is, but they said clear doing that. So that's a news vote. Let me know what you think about the election and the markets and what's happening.

A big coin, I think, expect a lot of volatility as we head into tomorrow, monday and of course, tuesday. And look, it's kind of like the fed meeting, uh, weeks where you have a ton of value. We could probably see a lot of that this week so you can have to let the does sell uh, and go into the following week.

H, i've seen that historically, markets, you can judge IT this the week after so much going on. So just be mentally prepared that you gonna probably see some wild wings. Uh, maybe, you know, maybe I don't want to say that's a guarantee, but be mentally prepared as an inform, educated investor, right? You want to be prepared for all these things so you're not rocking in the sea of volatility like a ship without an anchor.

So uh, I hope you guys understand what i'm saying here and i'm saying to some experience because i've been through all of that and I had to learn my lessons and not be not move by my emotions and what the markets are doing. But look at the maco, uh, look at the charge, look at the technicals and what story and even on chain data that we have in cypher, what stories is that telling me? So let me know you guys think, leave your thoughts, comments below.

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