Pump It Again!
Crypto Market Blastoff Despite US Regulation Battle
Hey Friends,
Let’s have a moment of silence for the people who thought the bull market was over and decided to short……. R.I.P
The bull market is still going strong with both Bitcoin and Altcoins pumping. Bitcoin could see $50,000 again very soon. XRP and Cardano ADA are leading in gains amongst the top Altcoins. There are two major catalysts that could drive both XRP and ADA’s price to the Moon and Mars in September - Ripple SEC Settlement and Cardano’s Smart Contract implementation.
PlanB released an updated Bitcoin stock to flow model chart and everything is back on track. Remember that no model or chart is 100% accurate but the goal is to get as close to accuracy as possible. Historically the stock to flow model has been very accurate and that is why I follow/study it.
Most Bullish News from the past week:
U.S. Rep. Anna Eshoo (D-Calif.), asked House Speaker Nancy Pelosi (D-Calif.) to amend the crypto tax provision in the Senate’s infrastructure bill in an open letter (source)
The U.S. Treasury Department is preparing to offer an olive branch to crypto developers, miners and hardware firms spooked by the bipartisan infrastructure bill’s tax reporting requirements, according to a Bloomberg News report. (source)
Crypto exchange Coinbase said it’s working with PNC Bank on a crypto project. A source said PNC, the fifth-largest bank in the U.S., plans to offer crypto investment services to clients.(source)
$402 billion asset manager Neuberger Berman will start offering Bitcoin and Ethereum exposure. Effective immediately, Neuberger Berman Commodity Strategy Fund’s will permit actively managed exposure to cryptocurrency investments and digital assets through (i) cryptocurrency derivatives, such as bitcoin futures and ether futures. (source)
Australian crypto mining company Mawson Infrastructure has purchased 17,352 ASIC bitcoin miners from Chinese manufacturer and Nasdaq-listed Canaan Creative. (source)
Interviews Recap
Congressman Tom Emmer R-MN - Congressman Emmer talks about the current state of the US Crypto regulations, Infrastructure Bill, SEC Ripple XRP lawsuit, Gary Gensler, Don Beyers crypto bill, Bitcoin mining and corporate adoption, CBDCs, Digital Dollar, NFTs, Blockchain voting and more!
Robert Materazzi, CEO of Lukka - Robert discusses the company's Crypto asset data services and partnerships with S&P Dow Jones Indices and State Street. He also talks about Bitcoin, Crypto Market, DeFi, NFTs, US crypto regulations, infrastructure bill and much more.
Mark Moss, Mark Analyst & YouTuber - Mark got a deal with iHeartRadio to be the first nationally syndicated radio show talking about Bitcoin and other important cross-topics, Macro, Economy, Technology etc. We discuss Mark's background, bitcoin lightning network, El Salvador's adoption of Bitcoin, Inflation, crypto regulations, and how to grow a YouTube channel.
Interviews in the works
Charles Hoskinson - Cardano Founder
Arthur Britto - Co-Founder of Ripple
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Crypto Taxes
Are you tracking your taxes for your Crypto trading? Be sure to do so, I personally use TaxBit to help me prepare my crypto taxes which I then share with my accountant. Visit TaxBit’s website to learn more.
-Tony
Disclaimer - Thinking Crypto and Tony are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This newsletter is for educational purposes and NOT investment or financial advice.
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