BAKKT Approval Coming Soon? – New CFTC Commissioner [Bitcoin and Cryptocurrency News]

good morning good morning happy Friday it is November 23rd and for those of us in the u.s. in his Black Friday thank you for tuning in another episode of The Daily Bitcoin and cryptocurrency news and there's a few things to talk about there's actually a few things to talk about and I want to throw this session together because I think a lot of you guys also want to talk Bitcoin and crypto so thanks for tuning in guys make sure you smash up the likes subscribe to the channel and we'll have it will keep a loser today today will be a fun session I'm going to do things a little bit differently but I am go jump right into the news and then we'll do Q&A afterwards all right so those of you guys are tuned in right now again thanks for thanks for tuning in all right guys let's get started so this was brought to my attention and and I think this is overall positive I think we have seen over the last you know over the last year the CFTC has been very Pro pro animation therefore Pro or let's say not anti Bitcoin okay let's put it that way so and and I don't think that stance has changed because of this new CFTC commissioner that just came on board he actually had exclusive with I don't know who block TV is but there's an interview that that they conducted and basically he set a few things that's quite interesting to quote the CFTC wants to see innovation we are pro innovation we don't have anti crypto or anti blockchain attitude and that is very positive that's what we want to see CFTC right now are in charge their regulators in charge of approving fact and we know that back up push back in December 12 – Gary and the reason given for that wasn't due to approval it was due to there was too much work to be done and they couldn't get it done but I do think that this plays into it but actually in here it does say that CFTC and back there consistently talking and I think this is overall CFTC is showing the right attitude right because a lot of people just have this mentality and rightfully so that that governments and regulators around the world are very anti crypto anti Bitcoin and they want to just shut it down right but there are there are cases where it looks like the CFTC is very Pro innovation they don't want to take the stands like we have to just do things the way we've been doing it for hundreds of years and there's new things let's make sure it works and let's make sure we regulate it properly right so this year the SEC is kind of like in between you can't really tell there are some Pro you know Pro commissioners eyes SEC side it also says this but there's others that we don't really hear about so so I think this is also very good he also quotes that there was another quote in here yeah so the CFTC didn't release any official response but he quotes or I quote at this time we're currently in discussions back do not have a definite date of any action so this relates to this push back to Jan or 20 I think Janet 24th because I said with you know despite all the work right this market downturn you know this this flash crash okay whatever it's been happening it's not good it's not good overall for holders it's not good for to the market it's not good for PR and it's not good for these regulators that are trying to prove financial products backed by Bitcoin especially when they see so much volatility right so I do you know one other thing that speculated that the date was also pushed back was because back in CST and back the CFTC all working together to make sure that things aren't going properly that neither side is is is having any second thoughts specifically the CFTC and and I think I think they're gonna work together I really think that this Pro innovation stance by the CFTC is showing that you know there go there go do their due diligence but I think they're they want to see this happen and something that relates to this why I think they want to see this happen is because actually about a month ago the chairman of the CFTC Jim Carlo she actually goes on and says that institutional investors will help crypto mature and quote him he's like we still got a long way to go there's a lot of issues in some of these spot markets Alang transparency a lot a lot of a lot of conflict of interest a lack of system and system safeguards and that's a concern but you know like all things it takes time to mature and with the movement of institutional investors in this space I think we'll see that that is an interesting point right and I do agree with that because what you have is a– tution investor's you got a lot of big firms VCS or hedge funds or retirement funds you know they're do not just go dive into something right they require a lot of infrastructure to be in place like such as custodians custodians that can store crypto s– right and in those custodians need to have insurance for those for those kryptos in case they get hacked and stuff like that so that helps and also all these brokerage brokers and and stock exchanges that it's gonna be you know helping clients buy and sell kryptos they have to have a lot of safeguards in place right they have to prove that things are safe there's no insider trading or any kind of manipulation going on so there's a lot of that stuff that'll come once big money flows into the market so this is one of the reasons why I like this right live people are like what's going on crypto to start rising up and getting adopt again getting popular again and so forth you know people in this space as adoption and that is true adoption definitely is needed okay but that adoptions will take a while adoptions go take years right right now the crypto market is struggling because there's quite frankly there's a lack of lack of interest and lack of money flowing in this is where institutions can start really driving up the market and can help in other ways such as maturity which would be a good thing which would be a good day and then when you have regulators looking at this there go help stop some of that manipulation that we all know is going on in the crypto space all right so that's you know that that's kind of a theme I want to talk about today is the CFTC and back approval I really think based on what the new commissioner is saying and based on what the Chairman is saying they look like they're very Pro pro innovation which means that most likely they don't want to go on and help back get approved and therefore we should see it come alive in January which is not too far because we're quite like that where you know we're right right around December so there's not that much time we have to wait and something else that relates to this is bitpay that pays CTO says that he thinks crypto ETF can cause Bitcoin to surge up to fifteen to twenty thousand dollars by the end of 2019 so kind of the same thing he sees that Bitcoin ETF is gonna bring large large amounts of money into this space and that it's very positive very positive for a space if that's kind of bum what I've been saying right now the market is struggling because there's lack of interest and lack of money that's flowing into the market what we really need is an influx of new money into the market that's really gonna drive things up so Bitcoin ETF now a lot of people are talking about that right now you know it's kind of pending right there's no deadline given a lot of people are anticipating the SEC will make a decision on demand Mike one and CBOE one when back gets introduced we don't know it's just all speculation B's there has been given no hard dates but hopefully that comes soon because if that comes like I said there could be a perfect tsunami of good news that come out on the same time and that could really drive the market up in a big way in a big formal way and I don't think we have to wait long to see all right all right so moving on what else is there Bitcoin cash the the gift that never stops giving so they had a lot of problems well actually okx had a lot of problems because okx offers these weekly futures that's highly manipulated and has been a sore point in the market so basically they decided to just you know David they didn't know what to do about Bitcoin cash in the fork they were originally go support Bitcoin ABC but then it seemed like s feels go win so thank God they got they got really scared so the day before the fork they just like liquidate and everyone and that caused a lot of people to lose a lot of money so in this article there's this guy that says that he lost seven hundred thousand dollars for his fund and now he is gonna be reducing his five million dollar fund usage of the exchange so this is one of the things that comes with unregulated exchange that's offering Bitcoin futures because you don't know what can happen and there's been there's been incidents in the past where shows okay axe they're manipulating their futures their would give weird prices that doesn't really reflect and you there was a video of someone now let's go trying to commit suicide outside your office and this is all this stuff so this is not good and I'm not a fan of okay axe but you know this is the other side there's a lot of people say well we don't want regular exchanges we don't want centralized exchanges we want the market to dictate itself unfortunately it is before most part of market is dictate you know regulating itself but this is the type of stuff that happened and a lot of people could lose a lot of money so finding finding the right middle between the two it's gonna be hard but let's hope we can all right so if will be God something else about backed a lot of people ask because back is only coming out Bitcoin futures Bitcoin based futures and people asked are they gonna introduce all their currencies and they said well well consider other contracts as a landscape involves as we receive additional customer feedback about what they want to meet so so that means they're definitely considering a but obviously bitcoin is the 800-pound gorilla in the crypto space they're gonna obviously start with Bitcoin to see how that is and if it goes well who knows they might offer litecoin futures or something like that down the road right all right so a few other things and I do notice that Bitcoin right now is it was dropping rapidly while I'm having this session it has dropped to 40 192 so let me get to that a little bit let me finish up you know because of because of this right a lot of people are still asking what stage are we in okay of this market cycle are we at capitulation or we're not there yet or we are anger mode I think we're somewhere here ain't no mode that you know it seems like we are stable out and Mike it might come up a little bit and then go down to depression that's where I feel like we are but live you'll say no we're not there we're somewhere around here but you know this is the type of post that then I start seeing more and more now right so this guy's complaining that icon which a lot of people like was at 4.5 billion at peak announced 127 million is that now he's wondering if the team is dumping all their tokens but this is how most of the coins are a lot of these coins that were hundreds of millions or even billions they are one tenth of where they were before so it's not just exclusive to icon but this is what this is what I'm saying like a lot of people are simply very very angry at the market and just just had enough which is which is why it makes me feel like or more of that anger stage right now but who knows we don't really know but if the market if Bitcoin continues to go down it's holding above 4,000 right it's been hovering around 40 it got down to about 4,000 85 somewhere around there so I'll just say 40 145 50 and it was just that 4550 hit hit it a couple times then came back down so we're now unfortunately in that race but if we break through 4,000 and we had to say 3,500 or 3000 yeah dad I think that will start causing depression but for me for me and I'm just speaking for myself that is when I'm will get more excited all right right now I know a lot of people are down and so am i if you've been holding from the top you're gonna be down a lot but when things get that cheap I just feel like that's Black Friday at that time it doesn't even have to be this day it's just gonna be a buying opportunity and we're going to a point where we're going to the early stages 2017 when Bitcoin started at the beginning of 2017 it was at only $1,000 and it got to about two or three thousand about March or April timeframe so if we actually go back there it's like we traveled back in time and that would be a great great opportunity at least for me I'm sending a lot of cash on the side okay I'm going to be selling a lot of cash on the side waiting for that opportunity if it ever comes if it doesn't come that's fine I would love to see the markets start going up from this point to but if it comes I'm gonna say it's gonna be a really good opportunity all right so moving on a couple other things since today is Black Friday those of you guys that don't have a ledger that don't have a hardware wallet today is a pretty good day to buy one so it's actually half off from $100 down to $50 so those of you guys that don't have a nano go go check it out and I actually put in I pinned it I pinned my affiliate link it is officially in the comment and if you guys want to take advantage go ahead so it is half off now the last thing I wanted to talk about and this is uh this is a site live coin watch this is like a CMC competitor site but it's pretty useful so I decided to do something different today because not that much going on I just wanted to see besides 24 hours I want to see 30 days in 30 days verse BTC on basically everything that's out there okay so 30 days 30 days versus BTC is very different because obviously worse BTC depending on how BTC does it could show greed but overall it's still going down so this is kind of the same like what do you have a trading pair verse BTC sometimes you'll see that it isn't agreeing like it'll say 10% but it's actually down 10% it just happens because BTC is down 20% so just keep that in mind 30 days verse BTC is very different than just 30 days verse base or verse USD alright so I want to take a look at this and just see what's been really really strong recently like what's been holding up within this last 30 days which includes much of this huge drastic dump that we have seen so let's start out there there's actually have page two there's a big surprise and I'm going to show you guys so and the top ten and the big caps it is no surprise ripple has been doing really well I talked about this many times they have held extremely strong but it has been going down because it was holding out like 50 cents and then it went down to about 45 cents and now it's about 41 cents so it has been going down within the last 30 days it's gone down about 12 percent but when you compare it to BTC it is actually up 31.6% actually how much it is time interval every time I refreshes it seems like that goes away but alright so ripple has holding extremely strong versus PTC but overall it has been going down but this is actually very good compared to all the other ones in the big caps and you'll see that you know that's one of the reasons why a lot of people really believe in XRP at this stage a lot of people a lot of comments about you know they went all-in on x RP or moved on Bitcoin into x RP and so forth and this is this is the reason this is a short-term thing right if you look at over the course of the year or so it's probably very different but temporarily at least within the last 30 days as this has held extremely strong versus BTC all right so moving on Bitcoin cash obviously to the dump stellar also has been holding very well 10% 10% above PTC but overall down 26% which is significant Yost out 33% litecoin down 38% card ah no down 43% within a month I mean this this kind of shows how horrible this last month has been alright the overall market cap is at 141 billion we dropped over 40 mean over 60 billion within the last month it has been a horrible horrible month but it's interesting it shows that like someone like ripple is actually holding pretty good stellar not the best but it is holding better than some of these big caps right and then let's a little look and see because there is a surprise on page 2 that I found recently but let's go on this is not updating come on update so I guess there's a little bog here because this should be in the green and now it's not why should I change it back to 5 seconds there we go alright so maybe I do have to keep it a fresh higher all right so num-num also I don't know too much about them I know they're being used in Japan but Nam has been doing very well 18 percent above Bitcoin overall down 21% for the month what else I'm top on a Bitcoin gold yeah I don't know a lot of people seem to be putting their faith in the Bitcoin gold because it's hard for a big coin cash I don't know I'll just gonna make much sense let's see what else you have bicoid that's decent right and then you got a whole bunch of stable coins of course stable coins butter be above or defeat the purpose so you got USD quite true USD Paxos they're all above Aurora which I don't get I it just looks like it's a total scam coin he's the white papers complete joke but it has been holding very well and you'll see random up and down but they are actually holding very well uh you guys somewhat like I contents down 60% within a month that's insane Sayaka went down almost 60% I mean let's not kid ourselves his last month has been very bad alright but going to page 2 there is a couple of surprises on page 2 very very big surprises so look at this there's actually a couple that has been going up in there in the 30 days and up masley versus BTC but the one I want to point out the biggest one is factum factum has gone up over a hundred percent within the last 30 days and it has been doing very well over 200 percent versus PTC so this is interesting because I I looked at fact I'm very early on there about document management supply chain document management so that's their whole thing I have not looked into it further but I think that is very impressive I know factum is a very good solid project I know they're not a coin they've been in the space for a while and people have ignored them so I'm wondering if they signed up something big recently so I want to point that out because that is truly impressive to be actually up that much but then within this last 30 days and be that much op versus over BTC so I'm most stopped there but I want to show you guys this site in case you guys want to see the relatively relative strength burst BTC and other time tables like 30 days you guys should check out live coin watch it's called live coin watch calm and and it's pretty interesting it's pretty interesting alright so let's go back to you guys we have gone down to one hundred and thirty seven billion and BTC is still up a little bit 4229 but still not very good if you look at our side this isn't like the one in Decatur I always look at and if you look at a day one we're like as low as we ever seen for PDC like ever we're currently tene it got as low as eight before but it's looking like we're hovering around there and not good not good all right so let's let's get back to you guys thanks for thanks for tuning in make sure you smash up the likes and subscribe to the channel and let's take some questions where do you think Exxon BGC ratios headed lower the for 4k stats I don't know I mean X alarm is holding as good as it can in this downturn but it is still slowly losing out I think part of why Exxon or Stellar's holding out well is because a lot of people still anticipate that it's the next coin that could be added to coinbase so they're looking for that short-term pump but now it's like things have gone down so low I don't I don't even know if people really care about that but the thing I want to stress is I really like stellar they have a bright bright future they are not going away anytime soon I'm telling you that because they had this big partnership with IBM and plus Jeb McCaleb who is the leader the founder of you know stellar foundation a stellar and stuff he is a freaking billionaire he has a over like a billion dollars in BDC over a billion dollars in Ripple over a billion dollars stellar and he seems like he's committed for a long haul so stellar that won't go away anytime soon man my cold is uh my cold is not going away fact him signed a huge real estate assignment deal with a huge real estate company that could be the reason I mean that I have to look into it more because I just kind of found that before I start its live session but that is truly impressive to see ah Claudio oh I'm almost mr. super channa apologize thank you for that Claudio is there any more Super Chicken best ok mention said I don't think that market by psychology chart applies in this case a new factor has banana because we're waiting for a new event wolf Wall Street influx that could be but you know we don't know this is a college chart if you believe in it I think I don't know I don't know what to say about that I think we're relatively there even though we're waiting for new influx of money we're still right between that that I think that anger stage like we're like right there our miners closing down no I did see that the hash rate has gone down a little bit but it updates every two weeks but I talked about I don't know if it's yesterday's video or did the day before yesterday there was this there's this clip showing that someone like wheeling out all these a sick miners and that's because they were just doing a refresh it had nothing to do with the difficult the profitability or anything so there's a lot of people that just like to spread fun during this time because it's to their advantage to bring things down so they can actually cube late and in that case that was that actually was spread on purpose they kind of drive more fear yeah job has been trying to sell off his ripple for long Tod he actually got in trouble because of that he lost uh he lost a case so he goalie sell like a limit of about but he still has a lot I don't know how much he has but it's definitely I don't know he just had a falling-out with the ripple so he's not a fan of ripple anymore but that's why stellar a tripled the code and how the whole market is is very similar it's because he took he basically took what he developed for ripple moved to the stellar but then he changed a few things I don't think minor switch go shut down at three thousand you gotta keep abide what what what miners if it becomes so improper well yeah they're shut off this after my take mining difficulty will drop and when it drops they'll become profitable again and they're gonna turn it on so that's how it always is so it's not gonna be one of those things were everyone just shuts off a Bitcoin network stops and that's it that that's the beauty of the genius of this mining difficulty algorithm is that it just on the fly so a lot of people stop mining the difficulty drop drastically and then it becomes profitable to mine again so so don't worry guys these miners are not going to go away anytime soon yes for my long-term investments such as Bitcoin I do use my ledger nano because once you put it in there you know if I refrain in and out of the ledger it's not that difficult but it's one of those things it's like if you're not gonna be touching it you might as well store in a ledger and don't worry about it hey Tony thanks for checking thanks for checking in happy antennal fan appreciate it nulls quants damn card on a long-term yes yes the only thing quant standby you know I wonder what they're doing in if they're go survive this quant stamina is really auditing just F that's stuff that's smart contracts and I don't know how many people are actually using them because there's been some projects to that's been that's been what's that that's been audited by them I think Ulster and they were still able to be hacked so I don't know how yeah I don't know about constants long-term future short-term they'll be around long term I don't know yeah my colds have has not been going away I had over a month but it seems like it's just not going away Tron V chain I mean rip wall stellar regardless if you guys like them or not I like them a lot I think all four of those are worth holding on to for long term if the electric company shuts down what will happen nothing you still you still control it you still have your private key you still have you still can access it whatever you want what all coins do you reckon with disappearances on 19 a lot well I shouldn't say disappeared oh this fall-off to like page 10 or 20 doesn't mean they'll ever disappear because there's been project that's been dead forever and the coins are still out there circulation all you have to do is have at least one or two miners or two one or two steak steak notes to be powering in network right so a lot of it will just kind of disappear and fade away but doesn't mean they actually died Google Trends shows a bullish sign for BTC so this bottom I don't know a lot of people do gold you know they do trends on searches for bitcoins and it correlates to the bitcoins price chart so if it's showing it's going up that could be a very good thing do you think by uncaring long shads goodbye you have to wait a while you have to wait a while I don't think until India gets pro Bitcoin I don't think they're gonna be moving up anytime soon unless they really expand outside of India fast Jake that's a good analogy that's a good analogy what do you think the next major support is well based on what I've been hearing all these ta guys and looking at history and charts and stuff like that it's it's either gonna be 3,500 or 3000 3000 is basically 85 percent off from the top from the high which is basically our fall from 2013 to 2014 2030 2015 so a lot of people think it can drop as low as 3,000 but there's no guarantees in this whatever we're seeing now is artificial its manipulated this way so so it's not natural so can it go down more yeah because if these guys are driving things down they could certainly drive it down that much that fast however if it's just a normal market and they're stopping the bleeding that maybe we do have some support at this level and we'll continue to go up and actually yesterday I think a showcase that actually tone they said that he's looking he's saying that things are bullish so I haven't heard him say that for 10 or 11 months so that's quite interesting alright guys I'm starting to lose my voice again but looking at BTC 4201 is still looking like it's very weak the past few weekends have been actually pretty good like the weekends actually start going up but it's not the weekend yet so we'll see but with lighter volume or less downward pressure things need to recover but then come Monday start going down again so it'll be interesting to see what happens this weekend we are so low so low like I mentioned RSI is really really down there I mean you're looking at the HR for RSI I mean look at where we are we haven't seen anything this low since since 2015 alright so in terms of an oversold factor we are beyond oversold but like I said this one's done on purpose right we were driven down on purpose and a lot of weak hands left and a lot of people that simply just had enough and been driven out and that's where we are now and I cos I should I should mention that companies that ran I cos they're liquidating their stuff – its overall everyone is just fearful right now so we do need to find a bottom and then we really do need influx of cash and hopefully that backed or in someone else right like backdoor a crypto or any kind of Bitcoin ETF or just largest atisha investors that think hey this is a good time to buy we are so low let's get in before things start going up so hopefully we can that influx of cash and we'll start moving up in the right direction but right now it's just looking really really weak all right guys I am losing my voice so I'm gonna have to call it quits but I got thanks for you guys for tuning in make sure you stay strong happy Black Friday if you got stuff you're looking for definitely check it out legend a know us those of you guys that don't have a hardware wallet definitely check it out because it's only it's only $50 so 50% off and if you want to use my affiliate link in the comment section but other than that that's it and we'll have to see and wait and see and see what happens this weekend whether or not we get some support move back up or we continue to try and lower alright thanks for tuning in make sure you smash up the likes that subscribe to the channel and I will see you guys probably a Monday if not this weekend alright take care of guys bye bye

22 thoughts on “BAKKT Approval Coming Soon? – New CFTC Commissioner [Bitcoin and Cryptocurrency News]”

  1. Remember the internet was going to be controlled by governments, as in China. Crypto in the west will spread wealth and power and create huge opportunities. This is getting started. It just waits in the shadows for the next disaster, collapse or bank mishandling. Hedge into these platforms and get used to pure, liberating power. (Also, watch the 1980s film TRON with a fresh understanding of its message!)

  2. I like watching these videos, but just remember these guys really have no clue what's going to happen. I do believe some of them that this a good long term investment, but I still remember when market began to Fall and he said no need to panic unless it dropped below $300bil…we are now at $124bil and still not any comments on how wrong he was.

  3. How's your $6k BTC "bottom" looking right now? Hope people didn't listen to random youtubers like this guy. If you invested at $6k "bottom". You're on your way to losing 50% as BTC is $3800 now and dropping.

  4. Indicators: always refer all time frames (D, 4h, etc) back to the weekly indicator. You should check out ADX and DI and MACD, too. Typically the DI line (the black one) starts leveling off before a mini-reversal happens – and it often 'fakes out' by leveling off, skyrocketing one last time, and then leveling off. Those three indicators (and volume… the best indicator) are a great start. Always go back and forth between weekly and daily to catch divergences.

  5. Thanks for the Ledger Nano plug! 50% off is a great deal. I will be picking one up with your referral link well deserved!

  6. Bitcoin has a chance to become the future, so let's put aside gains and losses for a moment, consider holding your positions a way to… gamble for your own future. My advice is that you don't hold much, only a portion of your wealth which you could afford to kiss goodbye, put your private keys at some safe place, the forget about it, live a life, wait for the big news to strike you, if it never would come, that's OK too.

  7. I am a big whale. I will call my friends to shut down bitcoin to 3000 $ by 2019 .Everyone is scared here .right ???

  8. The only people who could possibly be selling at these prices… are people who have been in the space since before last Summer. No one else would sell at 70% losses… may as well hold to zero. I dont get it… why the hell would you try to sell or trade at prices this low… the Alts are decimated. BTC, ETH, LTC are a shitshow…. The market is being manipulated by deuchbags.

  9. I think more dumps are coming, this year was a bad year for crypto, looking forward to 2019, I'm glad that 2018 is almost over.

  10. I think I've finally moved away from CMC. I've been using coinpaprika lately. I like it and I think I'm going to stick with it. I like that auto refresh a lot. Thanks for the video, George!

  11. I have no more faith in these institutions, it’s clear now they have full control of the market and they can hold it back indefinitely by simply tweeting!

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