Robby Greenfield IV’s Post

Transcript

What's up guys? It's Robbie Greenfield or Rob TG 4:00 and we are going into your market weekly update for the week of July 29th, 2023. So if you want a TLDR, last week we pretty much saw a lot of political pandering, a good upswing in the market because of the words of both RFK, but most notably Donald Trump at the Bitcoin 2024 conference and of course a lot of interesting. Things to come in this November election in the United States. So we'll quickly go through the Bitcoin forecast and E forecast you've added now that there is ETF course, we'll do a quick highlight on the Bitcoin 2024 conference as well as some macro highlight as to why I am completely convinced that Bitcoin is going nowhere else but up. And I know I sound like a tale of saying that, but we have smart facts to back it up. So let's first up is your Bitcoin forecast. Right now we have Bitcoin at 69. 1821 and what's really cool is that I appreciate Carmen coin market cap for this is that it's showing the last seven days with particular influential events you know that have occurred. Obviously a lot of this price action on Bitcoin is due to the Bitcoin 2024 conference made some pretty big claims now again a lot of this is pandering and I do expect this to go down a little bit but as we get closer to the November 2024 election in the United States, you know a lot of these big moments are going to be replayed especially you know in the heads of those working within the industry. Week over week we have about a 3.23% increase and that obviously changes and the events that we see here is is that Trump saying that he'll fire SC Chair Ginsler, you know, as soon as he is elected and creative Strategic Bitcoin Initiative. Obviously these are all the words and we'll touch on a little bit later in the Bitcoin 2024 review. Next up, we have our price prediction. So we're using Coin Codex and of course we have much more than just Bitcoin and ETH, but at least on the Bitcoin side, we got a five day prediction of around 79,236 one month. Position of 90,078, three month prediction of 100,596. I don't think that we're going to get close to this. I think we're around $100,000 based off of the different forecasts that I've seen across multiple institutions, but it's a good price reference to have. Up next, we have the Bitcoin ETF fund flows. So these are effectively all the ETF products for Bitcoin across the multiple asset managers including Grayscale, Bitwise, BlackRock, Vanak, Franklin, Templeton, etcetera. Right now we have a total AM about 62. $1,000,000 Net flows are much less than that, obviously $2. 9 billion, but still extremely strong. From the beginning of the year, we've seen Bitcoin increase in price by about 53%. And if we want to know the market leaders in terms of net flow, Black Rock standing at the top, Gray sales second, Fidelity third, Arc 21 shares, 4th and Bitwise and 5th place with around 1.1 billion for Black Rock at the top and around 150 million for Bitwise Overall. It's been increasing, right? If we look at the dotted line, right, that's the overall lines. They're doing pretty well. So for each we have a current price of $3382 or so. The five day, one month and three month predictions aren't crazy for each. I mean, at best case scenario, we have around 6500 in a year toward the end of this month around 6000, you know, 5900 or so. But it's gonna be a lot less volatile than what we've seen with Bitcoin. Now, it's very important to understand that even though he is obviously a standard deviation lower in price than Bitcoin, price action still respectable, right? If we look at, you know, in comparison, yeah, you know. One month prediction we're seeing a lot more movement from Bitcoin than we are for each just given everything that's happening, but the three month prediction is it starts to even out right and we actually see 8th overtake Bitcoin in the long run in terms of the gains to be had because obviously it's a cheaper asset. So on the Etherium ETF side are we actually see 113 million or so in outflows net outflows since it debuted last week on the 23rd initially we saw 106 or $107 million of inflows. I don't think this is necessarily a bad thing I think ether as an asset right now it's. Heating against Bitcoin and right now it's Bitcoin style and of course traditional investors and institutions lot less learned on Thorium as a network than they are on Bitcoin and this just doesn't just have the same legacy and price action that Bitcoin has provided that it's ETF was nearly seven months ago now. So political pandering for the 2024 season has begun as we are months away from the November election all three parties that is right that is RFK, that is Donald Trump and that is. As president of Harris have started to suddenly be quite amazing when it comes to just the word crypto or Bitcoin because anyone who needs to be elected will tell you that they will eat their own foot to be elected again. And it doesn't guarantee that any of these things are happening, but it does create price action in the market. And we're absolutely seeing that given the forecast earlier on Ethan BTC first we have the Bitcoin 2024 conference highlights so that you can get everything that you missed and feel a little bit better about that FOMO that all of us were feeling. Trust me, this afternoon I'm laying out my plan to ensure that the United States will be the crypto capital of the planet. Crypto is going to define the future. I want to be mined, minted and made in the USA. It's going to be. It's not going to be made anywhere else. As the final part of my plan, today I am announcing that if I am elected, it will be the policy of my administration to keep 100% of all the Bitcoin the US government. Currently holds or acquires into the future, we'll keep 100%. I hope you do well. Please. Next up, we have Vice President Harris saying that they are going to be resetting relations with major crypto companies. So let's take a deeper look. Last but not least, we have several representatives of the United States coming out to support crypto from the Democratic side. And the final note is that outside of those two, I really don't care to tell you know, which token to pick, which thing to get or anything like that. I think it's absolutely stupid and in fact, most of these projects, including the ones that are part of, have yet to truly demonstrate the same. Impact that we see with Bitcoin and Etherium though they might in the future.