With the Sept monthly close, the remaining confirming factors for a new Bitcoin Cycle are now in.
The slightly early Cycle Low (44 months vs 47), and lack of deeper move in June/July sets up a possibility of a Cycle that could well (upside) surprise. Versus say the diminishing return idea.
But, don't forget that new Cycles (in all assets) generally have one major shakeout, the type to give bears hope, one more time.
๐จ JUST IN: XRP treasury company Evernorth is set to list on Nasdaq under ticker $XRPN.
Armada Acquisition Corp. II shareholders vote Sept 30 on the merger, the last major hurdle before trading begins.
๐ 473M $XRP held, one of the largest identifiable corporate holders
๐ Plans to deploy XRP for yield, infrastructure & capital markets
๐ $30M refinancing via 4% convertible preferred PIK notes, accessible only after approval
Back in 2020.. $QNT went from $1.50 to $425
It pumped 29,000% in just 77 weeks
Those were great times..
Do I think it will pump 29,000% this time around?
No..
But even if it moved 1/10th of that move across that timeframe..
We'd be just shy of $2k $QNT
And the fact its just broke out from a 4 year accumulation phase..
Makes that a real possibility imo
$QNT
When a violent breakout is already underway, avoid blindly going all-in and chasing the price just because the media is hyping it up everywhere, you donโt want to end up trying to catch a falling knife
Crypto billionaires have spent nearly $300M on the midterm elections.
Meanwhile, Trump and his family have pocketed more than $1.4B from crypto deals.
Now the crypto industry wants Congress to do its bidding by passing the corrupt CLARITY Act.
The Senate must say NO.
Today, I voted no on the Clarity Act, legislation meant to regulate cryptocurrency in America.
The ethics provisions in this bill are simply too thin. President Trump, his children, and his Cabinet are making billions of dollars in the crypto space, in part from bilking everyday Americans out of their hard-earned money. I cannot in good conscience vote for any legislation that codifies that behavior from public officials. Not for President Trump or Secretary Lutnick today, nor for any Democrat who may take advantage of it in the future.
On the national security front, there is more to be done to make sure we have the tools in place to stop money laundering and shut down funding avenues for terrorists and nations like North Korea and Iran. This was essential after 9/11 and remains essential to keep Americans safe.
And as of now, our agencies, including the CFTC, lack the necessary oversight and staffing to implement this legislation, and that should be addressed.
There are strong, bipartisan provisions in this bill that could serve as the foundation for a new attempt at providing the crypto industry with the guardrails it needs. I believe that the U.S. should lead the world in cryptocurrency innovation, but we need to get it right. I remain open-minded to that work ahead.