Wall Street Hasn’t Satisfied Its Crypto Greed – That Means More Profits

We’re Still Early in the Greed Cycle                                                                                                                                                                                                                                                                                                                                                                                                                 August 16, 2024 | [Listen Online]( | [Read Online]( [Teeka Tiwari]( [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20The%20Digital%20Asset%20Daily&body=Wall%20Street%20Hasn%E2%80%99t%20Satisfied%20Its%20Crypto%20Greed%20%E2%80%93%20That%20Means%20More%20Profits%3A%20We%E2%80%99re%20Still%20Early%20in%20the%20Greed%20Cycle%0A%0Ahttps%3A%2F%2Ftiwariresearchgroup.com%2Fp%2Fwall-street-hasnt-satisfied-crypto-greed-means-profits) Wall Street Hasn’t Satisfied Its Crypto Greed – That Means More Profits Sometimes you just need a purgative cleanse to get the junk out. And that my friends is what I believe we’re seeing take place in bitcoin. Between the U.S. government moving $594 million of bitcoin to exchange wallets and the recent distribution of $14 billion in bitcoin to the Mt. Gox creditors... Don’t be surprised if we see a vomit-inducing purgative puke lower in bitcoin prices. Emptying one’s stomach contents is never a fun experience no matter how much relief one may feel after the fact. But that’s something we must emotionally prepare ourselves for with bitcoin’s price action. Could I be wrong and we streak higher? Absolutely. But I don’t think so. I think we could have a real gut punch in front of us and I’m excited for it. Why? Because to streak to new highs, we must thoroughly flush out the weak hands. A quick trip to $42,000 ought to do it. So should you move to the sidelines, dump your BTC and then nip back in on the sell off? ABSOLUTELY NOT. Why not? Because I could be DEAD WRONG. The risk of being out of the market is far higher than the risk of being in. We could see a $42,000 tick over the weekend and be back at $60,000 within hours. That’s the nature of crypto. Remember, we’re still in a bull market. The overall bias is to the upside. I’m sharing my view with you for two reasons. The first is that I want to prepare you emotionally if we do see a quick trip to $42,000. I don’t want you to be in shock because shocks induce damaging behavior like selling at the low. I also want you to be ready to buy more BTC should we see such a sell-off develop. It could very well be the last big buying opportunity before the next leg of this bull market takes off. During volatile times it's imperative you understand the big picture. That’s the only way I have been able to survive through Bitcoin’s volatility. Bitcoin Will Test You Since first recommending bitcoin in early 2016, I’ve lived through fifteen 20% drops, eight 30% drops, two 40% drops, two 50% drops, one 63% drop, one 78% drop and even as much as an 82% drop. What has kept me in the asset is that I’ve always had a crystal-clear vision of how the adoption of bitcoin would play out. And that’s what I want to talk to you about right now. During the depths of the crypto bear market in 2018, about a dozen financial firms started laying down the foundation to get into cryptos. The first was the Bakkt Exchange, which is a subsidiary of the New York Stock Exchange (NYSE). In September 2019, Bakkt began trading bitcoin futures. Around the same time, we saw another major player get into the bitcoin futures market when the Nasdaq announced it would allow trading, too. That prompted me to call 2019 the Year of Wall Street Greed. You see, major financial institutions missed out on the crypto boom in 2017. They had to sit on the sidelines while smaller companies built the infrastructure to allow institutional trading of crypto. But once institutions like Bakkt and Nasdaq made bitcoin easier to buy, I predicted a frenzy would occur. Here’s what I wrote in January 2019: The NYSE and Nasdaq are the two largest stock exchanges in the world, so they bring a wealth of experience and a ton of reputation to the crypto market. They’ll also help expand the pool of available buyers this year by about 15 times. Compared to about 35 million crypto holders, there are nearly 500 million stock buyers in the world who’ve never owned crypto. That’ll send prices higher. But it won’t be a straight ride to the top. And that’s exactly what happened… When I made that call in January 2019, bitcoin was trading around $3,500. By the end of the year, bitcoin had more than tripled in price. But that’s not the end of the story. The initial rally set up bitcoin’s epic bull run to a new all-time high of nearly $70,000 by September 2021. Anyone who bought when I pounded the table during the depths of the 2019 bear market would’ve seen gains of up to 20x during the following bull market. Here’s why I’m telling you this… During each and every crypto bull market, bitcoin takes out its old highs. So surpassing its old all-time high of $73,800 is a no-brainer from here. I expect bitcoin to go much higher than that during the next leg of this bull market, hitting a high of at least $150,000. Why? Wall Street greed. The Greed Story Is Still Driving Crypto Higher The current bitcoin bull market began in January 2023. Since then, the price has gone from a low of $16,500 to a high of $73,800 in March 2024. Despite the recent pullback from its all-time high, Wall Street firms continue to roll out the crypto red carpet for their clients. This tells me there’s immense FOMO (fear of missing out) among institutional investors. The good news is you can still get a jump on these big players. That’s because – despite the rapid growth we’re seeing in crypto adoption – we’re still in the early stages of this multitrillion-dollar trend. Friends, I know I sound like a broken record here. But the reason Wall Street is jumping on the crypto bandwagon is simple: Greed. These companies didn’t have an epiphany about crypto. They just figured out a way to make money from it. Like stocks, ETFs are securities traded on exchanges. They can hold stocks, bonds, commodities, and other securities. Usually, they track an index or asset class. ETFs are the railway system into the financial world. And Wall Street started building “railways” to crypto when they launched bitcoin ETFs in January. The funds proved to be an immediate hit, so Wall Street launched Ethereum ETFs in July. Currently, there are 11 bitcoin ETFs and 9 Ethereum ETFs. Combined, they have $51 billion and $7 billion, respectively, in assets. To put those figures in perspective, it took gold ETFs five years to cross $50 billion in assets under management. Can you see how early we still are in this trend? On top of that, pension funds, sovereign wealth funds... They’re all getting into this asset class. And Wall Street will be there with new products for them. But we haven’t even ventured into the deep end of the pool. There’s trillions of dollars’ worth of capital there. And Wall Street’s ready to take the plunge. Just last week, Morgan Stanley gave its 15,000 wealth advisors the green light to sell bitcoin ETFs to their clients. Those advisors manage about $3.75 trillion in assets. Last month, JPMorgan allowed its wealth advisors to offer bitcoin ETFs to their clients. JPMorgan’s wealth management division oversees $630 billion in assets. And just on Wednesday, Goldman Sachs announced it holds over $400 million in bitcoin ETFs. Just think about it… In April, Goldman Sachs said its clients were not interested in crypto. “We do not think it is an investment asset class,” Sharmin Mossavar-Rahmani, chief investment officer of the bank's Wealth Management unit, told the Wall Street Journal in April. “We’re not believers in crypto.” My view is that after Goldman saw the success of the ETFs, they had no choice but to get into crypto. As I always tell you, watch what Wall Street does, not what it says… Friends, I want you to wrap your heads around this… If retail investors drove bitcoin to an all-time high over $70,000… What will all this Wall Street buying do? Goldman Sachs is just the start with $400 million. How much will the other Big Boys buy? Can you now see why I say we’re still early in the game? It would be insane to think we’re not. We’re Still Early in the Greed Cycle As you can see with your own eyes, we’re on the cusp of widespread adoption of this asset class. The firms above manage trillions of dollars’ worth of assets. And so far, just a tiny fraction of the world’s assets have made their way to bitcoin… And that brings me to the second point: It’s not too late to get in. Wall Street now has a seat at the table. The good news for early adopters like us is they’ll bring millions of their customers and billions of dollars of their capital to the table with them. In the process, they’ll take crypto prices up to levels we have never seen before. The gargantuan upside nature of these assets still gives you the ability to hit a life-changing home run. That’s what these assets can do. They won’t be able to do it forever… But they sure can do it now. When the reality of all this latent demand for bitcoin kicks in… The move higher will be parabolic. It will be utterly insane. And it will leave you breathless. Let the Game Come to You! Big T P.S. As bitcoin goes, so to the altcoins. And right now, I’m bullish on six tokens I believe have the potential to 500x your money. [You can learn more about them right here.]( And if you’re not already a paid-up subscriber to Big T’s Inside Crypto, I strongly urge you to consider it today and decide for yourself. Share The Digital Asset Daily You currently have 0 referrals. [Click to Share]( Or copy and paste this link to others: [ [fb]( [tw]( [ig]( [yt]( [in]( Update your email preferences or unsubscribe [here]( © 2024 Tiwari Research Group 1607 Ponce De Leon Ave San Juan, Puerto Rico 00909, Puerto Rico [Terms of Service](