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The NEXT 48 Hours Are HUGE for Cryptocurrency (Watch BEFORE February 14th) - YouTube
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all right welcome back everybody to
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altcoin daily my name's austin if you
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hold cryptocurrency i would really start
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paying attention to what is happening
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globally right now the crypto market
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braces for a volatile week ahead of the
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fed's emergency meeting so this is
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happening monday less than 48 hours from
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today the united states federal reserve
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is set to hold an unscheduled meeting on
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monday to discuss interest rates
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described by some as an emergency
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meeting and others as a fairly regular
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occurrence
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regardless the fed's unexpected notice
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has sparked debate in the crypto
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community over whether the central bank
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will announce a rate hike and if so how
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high and how many of them there will be
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this year and when exactly is this
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happening the unscheduled meeting which
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the fed said will be held under
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expedited procedures is set for monday
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at 11 30 a.m eastern time and according
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to the fed's public notice
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interest rates is the only item on the
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agenda so if the agenda only has one
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item and this was an emergency meeting i
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think we can sort of read between the
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lines on what's about to happen
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the notice has led to a flurry of
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speculation in the crypto community
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about what the fed is planning to do
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given the market's expectations that the
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first rate hike from the fed was not
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supposed to happen before mid-march and
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now it looks like it may be about to
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happen on monday
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of course nobody knows yet we don't know
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what the fed is going to announce we can
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all just speculate my next question
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though is obviously what caused this
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what changed in a month when they had
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their scheduled meeting in january said
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hey no announcement until mid-march what
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changed in these last few weeks
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well as of a few days ago the u.s
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government got the new numbers u.s
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inflation officially hits a new four
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decade high of 7.5 percent in january so
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the acceleration we're seeing for
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consumer prices going up
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is going wild we have not seen an
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increase like this for over 40 years
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in a direct tweet from marty bendt on
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his take on what is happening monday
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the fed is calling an emergency meeting
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for monday they are sweating bullets
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over the 7.5 cpi print consumer price
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index print and will likely move to
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raise rates before the next meeting
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it feels like the end game is upon us
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will rate hikes be enough to combat the
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public's collapse of confidence
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we will see
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we will see give me your thoughts on
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this down below in the video comment
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section seriously i would love to hear
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your take comment below but let's cut
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the crap what does this mean for the
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bitcoin price are we going higher or are
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we going lower
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this uncertainty along with the
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geopolitical issues going on right now
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with russia and ukraine this is the
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reason we are probably seeing risk
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assets drain like the altcoins
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in fact looking at this recent chart
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from sentiment which is an on chain in
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social metrics hub
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both cryptocurrencies and equities
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markets were likely impacted friday by
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the increased talks of war the tensions
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between these two countries have put the
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world on notice and spikes on this topic
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will continue to coincide with increased
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volatility interesting so there is
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uncertainty globally right now and that
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of course leads to increased volatility
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and let's be clear here when we say
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bitcoin volatility does that mean price
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up or does that mean price down it means
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uncertainty it means expect anything
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check this out over the last few weeks
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we have seen a massive influx of stable
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coins move on to exchanges
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honestly not sure exactly what to make
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of this perhaps that dry powder is on
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standby ready to be deployed and taking
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a look at the data from glass node the
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trend is pretty clear this gray line is
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bitcoin price pretty choppy pretty
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pretty consolidationy but the blue is
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stable coins entering exchanges all
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exchanges
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is this dry powder getting ready to
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potentially buy the dip could be
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could be why else do you put stable
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coins onto exchanges you put them on
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because you're going to buy
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cryptocurrency and yes i know what
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you're thinking i know what you're
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saying you're saying austin never you
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mind 48 hours from now what about 24
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hours from now meaning there are six at
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least six major crypto super bowl ads to
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be seen by hundreds of millions of
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people tomorrow
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ftx has an ad crypto.com coinbase etoro
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bit buy and bud lite has an ad featuring
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ethereum-based nfts
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this will be massive awareness for the
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cryptocurrency industry
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it really begins tomorrow for the masses
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and of course sports as the catalyst
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extremely bullish extremely bullish but
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let's just get real here will this
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massive awareness be anything like the
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coinbase ipo back in april 2021 in
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retrospect the top hugely bullish for
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the space but it was a case of buy the
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rumor sell the news we don't know we
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really don't know nobody can see the
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future nobody knows what the price of
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bitcoin will do tomorrow
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but when we have potentially bearish
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news happening in two days as well as
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bullish news happening in one day
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expect volatility if nothing else expect
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volatility
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in the words of analyst will clemente
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can't think of any other asset i'd want
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to hold during times of geopolitical
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uncertainty than bitcoin
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decentralized fully sovereign
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non-custodial hard money you can take
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with you anywhere around the world in
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your brain great perspective wise words
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wise words
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and we will have to see how this plays
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out be sure to click subscribe right now
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we drop a video every single day
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demystifying keeping you informed on
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this crypto market
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moving forward next piece of quick news
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from intel
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intel plans to roll out energy efficient
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crypto mining chips this is new
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information here is what they announced
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intel said friday it plans to develop
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new energy-efficient semiconductors
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geared to crypto mining as the chip
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giant eyes a bigger role in the
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fast-growing market
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so intel is officially jumping into
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cryptocurrency and the company plans to
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do this to ship a new blockchain
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accelerator later this year so this is
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extremely bullish for the space in the
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long term in fact intel is so respected
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already as a chip manufacturer just for
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tech that they already have a huge
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customer signed on for these new mining
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ships intel said it has already signed
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major customers including block which is
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the fintech firm previously known as
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square so jack dorsey's company is
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saying yes they will use the chips
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they're excited for these chips and in a
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direct quote from intel on their
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upcoming energy-efficient mining chips
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we are mindful that some blockchains
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require an enormous amount of computing
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power which unfortunately translates to
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an immense amount of energy our
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customers are asking for scalable and
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sustainable solutions
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which is why we are focusing our efforts
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on realizing the full potential of
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blockchain by developing the most energy
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efficient computing technologies at
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scale so extremely bullish in the long
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term as all these tech companies get in
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they want to make money off bitcoin they
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want to provide the best products to
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mine to take advantage of this new
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ecosystem
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and next up speaking of crypto mining in
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the u.s
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miners and stakers will not be brokers
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says the treasury department so this is
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extremely bullish news the u.s treasury
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sent out a note saying that the
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definition of a broker should exclude
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miners and stakers the u.s treasury
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department is giving crypto miners and
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stakers a reprieve the famous bipartisan
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tax infrastructure bill that labeled
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miners and stakers as brokers for the
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irs reporting is now being reviewed here
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are the details
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a letter sent to a group of senators on
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friday confirmed the exclusion of minors
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and stakers from reporting on their
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clients transactions
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in it in this letter the treasury
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assistant secretary for legislative
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affairs jonathan davidson said that the
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treasury's views on the matter are this
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ancillary parties who cannot get access
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to information that is useful to the irs
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are not intended to be captured by
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reporting requirements to brokers so the
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treasury's view is that congress should
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work on changing this language because
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again they're not brokers they're
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something else so i'm glad the treasury
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thinks the language should be changed
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and next up let's talk about altcoins
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starting with a major announcement from
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superfarm
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after years of building the super farm
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ecosystem is about to see the release of
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its first triple a gaming title
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the journey is just beginning follow
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this account but don't trust anything
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they say something sus is going on for
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sure so the first game to launch off
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super farm is called imposters imposters
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are coming and this game should be
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released in the coming weeks
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pretty exciting
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and next up quick piece of news for
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altcoin formation phi
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form alpha version 1 is ready for
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testing that means one location for your
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capital exposure to 25 plus different
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asset classes pools and vaults
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the new way of yield farming so just as
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a reminder formation phi describes
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themselves as the end of yield chasing
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welcome to cross chain risk parity smart
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farming 2.0 and testing for alpha
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version 1 is now live which is pretty
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cool and that means one location for
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exposure to all these different assets
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and pools and vaults so good to see the
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progress i'll keep you updated
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but that is the video my name's austin
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like always see you tomorrow and always
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keep in mind
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nobody really knows where the price of
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bitcoin is headed in the short term
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expect volatility expect wildness
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and let's just keep coming back to all
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these metrics all these charts and keep
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checking in
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see you tomorrow
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