BITCOIN: CALM BEFORE THE STORM!!!! (china frontrunning US reserve)

The Bitcoin market is experiencing a shift away from dominance by Bitcoin towards alternative cryptocurrencies, particularly Ethereum, due to a recent US court decision. Bitcoin dominance is expected to decline further in the coming months, potentially leading to a significant drop by mid-2024. This trend, coupled with de-banking practices targeting certain individuals and industries, is driving a surge in crypto adoption.

Bitcoin Dominance Decline

• 00:01:28 Bitcoin dominance has likely peaked and is expected to fall sharply in the coming months, potentially collapsing by mid-2024. This pattern aligns with previous market cycles and is predicted based on historical trends observed in Bitcoin dominance over the past four years. The decline in Bitcoin dominance is fueled by a growing interest in alternative cryptocurrencies, especially those related to Ethereum and decentralized finance.

Ethereum and DeFi Renaissance

• 00:00:27 Ethereum is experiencing a resurgence due to a US court ruling that deemed sanctions against smart contracts on Ethereum unconstitutional. The ruling provides legal certainty for decentralized finance (DeFi) projects on the Ethereum blockchain, leading to a rise in the popularity of DeFi and projects associated with Ethereum. This trend is also reflected in the broader market shift away from Bitcoin and toward alternative cryptocurrencies, including those connected to Ethereum.

Crypto Adoption and De-Banking

• 00:16:54 De-banking, a practice where individuals or businesses are removed from the traditional banking system, is inadvertently driving the adoption of cryptocurrencies. This practice has been used to target individuals and businesses in various sectors, including those with opposing political views, cannabis, and gun businesses. As individuals and companies experience de-banking, they are increasingly turning to cryptocurrencies like Bitcoin as an alternative for financial transactions and wealth storage.

US vs China Bitcoin Acquisition

• 00:04:47 The recent rise in the price of Bitcoin has sparked speculation about a potential acquisition of Bitcoin by either the US or China governments. There are rumors that China is front-running the US government in acquiring Bitcoin, leading to the 'Battle of the Giants' where major nations compete for Bitcoin reserves. This competition, along with other countries like Brazil, Saudi Arabia, and Singapore acquiring Bitcoin, highlights the increasing global interest in Bitcoin as a store of value and a hedge against fiat currency inflation.

US Crypto Regulations

• 00:07:23 The US is in a strong position regarding crypto regulation, with stablecoins primarily backed by the US dollar. Stablecoin issuers use the dollar to purchase US treasuries, creating a strong demand for these assets. This is beneficial for the US government as it provides a consistent buyer for its treasury bonds. Additionally, the US is considering candidates for the SEC chair who are pro-crypto, suggesting a potentially favorable regulatory environment for crypto in the US.