The ACTUAL Reason Cryptocurrency is EXPLODING! 💥 Transcript, AI Summary & Key Points

Bitcoin has no top because the dollar has no bottom. And so if the government keeps printing money, Bitcoin is going to go way higher. >> Bitcoin's new bull market is just getting started. This is not according to me, Altcoin Daily, the number one most watched crypto news and media channel. This is according to Anthony Pompiano, analyst and entrepreneur who just schooled this Fox Business host.

>> And I I poo pooed you. I know I did. I was arguing victory everybody. >> Right now, Bitcoin is $86,000. What a day to be in Bitcoin. According to Pomp, this all has to do with the massive Treasury buybacks that Scott Bessant has been implementing. >> Bitcoin is the most sensitive asset to global liquidity and the US government for the last month or so continues to tell us they are going to print a heck of a lot of money.

Bassent hailing his buyback program as a success and seems to indicate they're going to continue with this maybe even bigger. >> I just raised the the size because we are in a very illlquid period. The market was moving quickly. >> Can you just give us some more color on on will you continue uh to you know to use funds to buy the the long end to >> Well, Joe, we we always do that.

So, a lot of people wondering if $86,000 is the top. This is nowhere close to the top. Bitcoin is going a lot higher. And the one biggest reason for this is, I mean, there are many reasons, but the biggest reason why Bitcoin is going a lot higher, well, I'll let Pomp explain it to you. I remember coming on the show many many many years ago and saying that Bitcoin was the beall and endall of the future and I I d I poo pooed you.

I know I did. I was arguing vigorous. Everybody did. Everybody did actually. Yes. And we all missed out. So um how come Bitcoin is now rallying you 859 today it's rallying. How come it's doing that when the Clarity Act failed? >> Well, I been saying for months now Bitcoin doesn't need the Clarity Act because Bitcoin already has clarity. We know what the regulatory treatment of Bitcoin is, but more importantly is Bitcoin is the most sensitive asset to global liquidity.

And the US government for the last month or so continues to tell us they are going to print a heck of a lot of money. We have more than a $40 trillion national debt. We have more than a trillion dollars annually in terms of the interest expense. And Bitcoin has no top because the dollar has no bottom. And so if the government keeps printing money, Bitcoin is going to go way higher in the coming years.

And I think what you're seeing in the last 30 days or so is that once the government Scott Besson at the Treasury said, "I'm going to double the purchases. We're going to print more money." Everyone said, "Maybe I should get some Bitcoin in case it catches on." And I think that's what's happening. >> I'm inclined to go along with your to a point. I rather like my 5% return on a 10-year Treasury.

>> Bitcoin on the hourly chart, very bullish. Bitcoin on the daily chart, very bullish. It's a green day above both its 50-day and 200day moving average. Everybody is getting bullish on crypto these days. I'm going to show you in just a minute or two. But keep in mind, we have been bullish since the lows. If you were accumulating down here or down here like we were, you are literally up 50% today.

This is Bitcoin on the weekly scale. And what's interesting is just like every bare market, we touched the 200W week moving average back here. But what's interesting is we just barreled through what could have been major resistance and was resistance. The 50week moving average is historically very important. And the fact that we're above this now, this tells us that the new Bitcoin bull market is just beginning.

Check out these two metrics. Bitcoin's monthly chart looks great. RSI is in an uptrend and MACD shows that the bears are losing momentum fast. Look guys, this video today, it's all about why the Bitcoin and crypto new bull market is just getting started. If you're interested in staying informed on the latest and greatest in everything going on in the crypto space, make sure you subscribe to Altcoin Daily and watch every day.

And feel free to watch any of our videos from the past couple months. They are still just as relevant as they have ever been, especially with Bitcoin breaking bullish like we thought. Hey, let's talk about altcoins. So, why are prices rallying so hard today? Why are we seeing a mini alt season of sorts? Well, a big reason for all of this, like we have been showing you for quite some time, are that fundamentals have been off the charts, bullish, going parabolic, and prices are finally starting to catch up.

Do you realize this? Last week, a blockchain, a cryptocoin, surpassed the New York Stock Exchange in weekly trades for the first time ever. This is such a big deal, a sign of the times. Incredibly bullish. We're talking about Salana, of course, and most people have no idea that Salana just flipped the New York Stock Exchange with 28 million trades while they had 190 million.

The internet capital markets have finally arrived. So, what you're looking at right here is Bitcoin, not versus the US dollar, but versus the NASDAQ, the top tech stocks in the USA. And what you'll notice, look right here. Just like the prior two times before, the money rotation from US stocks to crypto has now officially begun. And I'm not saying I'm bearish on the stock market or AI stocks are about to go down.

All I'm saying is that crypto versus the AI stocks is about to outperform hopefully historically. And this is the flip that just happened in markets. Bitcoin has now outperformed the NASDAQ by 42% over the last three months. If history repeats, 57,800 was the macro bottom for Bitcoin and a new bull market has just started. Do you think that a new bull market has just started or are we still in a bare market?

Well, I'll tell you what. It looks very likely like September is going to end up now up over 10% in September. And if that is the case, Bitcoin is about to close three monthly green months in a row. That has never happened before during a bare market. If September closes green, that will alert the world that uhoh, Bitcoin's back in a bull market in a big way.

Taking a look at Ethereum quarter 1, quarter two, quarter three, quarter four. Historically, ETH is getting ready to print its best Q3 ever in history with a gain of 67%. It is good to be in Ethereum. So many reasons why Ethereum is pumping and outperforming. Let me clue you in. A lot of it has to do with the individual US regulatory agencies making their own clear crypto rules of the road.

Another big reason is because of things like this. The major tech companies can no longer hide their intentions with crypto. They are rising to the new state of the economy. For instance, just in Google just listed a position they are hiring for a crypto lead to advise on digital asset initiatives and their product roadmap. There is a major competition to attract good talent.

hopefully somebody from the altcoin daily audience because breaking news, Apple is hiring as well a stable coin and crypto lead for Apple Pay, opening the door to digital assets across its 2 plus billion user ecosystem. Truly a huge moment. So, ETH has really performed well. Can it keep going? It can definitely keep going. Ethereum looks ready to explode and smash the like button to support your favorite creators.

Again, for months and months and months when Bitcoin was at its lowest, we were telling you this was a great time to buy. Crypto is still the future. And it took until this moment for everybody to realize that Bitcoin is back and new lows are not very likely at all. Much respect for analyst Ben Cowan for doing this. I was wrong, he says. Not going to make excuses.

I deserve to be dunked on. Crypto analyst and friend of the channel, Benjamin Cowan. Ben joined us back in July to share that he thought the bottom would come in Q4 of this year. Well, Ben has finally admitted Bitcoin is back in a bull market. He says, "I was wrong about Bitcoin. Clearly, I was wrong, and now I have to deal with the fallout." Listen, back during this interview in July, he gave it a 40 to 50% chance that Bitcoin's bottom was in.

But still, much respect for Ben that he made this video. And again, the takeaway here is Bitcoin is back in a bull market, guys. Smash the like button if you appreciate this. >> Today we're going to talk about Bitcoin. And I obviously have to do uh my least favorite part of the job. And that is admit that I was wrong about Bitcoin not being able to take out the May high.

Right? Clearly it has. So I was wrong. It rallied above the 50we. It is now extended that up to almost 86,000. So 85,815. So clearly I was wrong and you know I have to deal with a fallout of that now. Bitcoin breaking through the May high. Um this is not what I had on my bingo card for this year. And so I just wanted to say I was wrong and leave it at that.

Uh there are other people that were right and I think they probably deserve your viewership more uh right now than me. So much is happening in crypto. I hope you are a part of it with us. Don't forget to create your WEX crypto exchange account. This is one of the best exchanges to trade crypto, especially with these huge bonuses they are giving for crypto traders.

$500 bonus for 100 winners every week. $10,000 and much more of welcome rewards if you're a new user and a 50% deposit bonus on anything above $100. This is huge. Sign up for WEX and trade. Whether you are a beginner trader or expert trader, this is one of the crypto exchanges I really like and I use. My name is Aaron. This is Altcoin Daily. See you tomorrow, my friends. It is turning into a great day, week, and