Crediting Crypto Jebb, the CoinSpeech team collected the most important takeaways from his recent appearance. You can find Crypto Jebb’s new video below.
Bitcoin’s Remarkable Growth
Recently, Bitcoin saw an astounding growth, “starting late last year and about September to October,” with its value soaring from $225 to a spectacular $72,000. This monumental 95% movement left many “filthy stinking rich” and set the stage for an even more bullish market ahead.
Regulatory Shifts and Spot ETFs
In a major development, Australia launched a spot ETF for Bitcoin. Crypto Jebb explained that spot ETFs “lock up supply,” meaning “there is literally Bitcoin one to one backing that Bitcoin that you bought on that Securities Market being held in custody somewhere.” This crucial move is expected to take more Bitcoin out of circulation, contributing to a reduced supply and potentially higher prices.
MicroStrategy’s Massive Investment
MicroStrategy is about to make a significant investment in Bitcoin and cryptocurrency worth around $700 million. According to Crypto Jebb, MicroStrategy’s move to custody their Bitcoin “means that’ll be another few tens of thousands of Bitcoin taken out of circulating supply.”
Changes within the SEC
David HS, the head of the SEC’s Cryptocurrency and Cyber Unit, stepping down marks another pivotal moment. Crypto Jebb believes that “the SEC’s direction is changing,” pointing to the growing influence of pro-cryptocurrency sentiments within regulatory bodies, which could shape a more favorable landscape for Bitcoin.
Stock Market Indicators
The S&P 500 recently “broke bullish out of the top ascending wedge,” which is a significant event. Historically, when the stock market is rallying while Bitcoin is correcting, Bitcoin “is just kind of storing that energy from the stocks rallying.” Crypto Jebb highlighted that these indicators form a “Perfect Storm of bullishness for the stock market,” and by extension, the cryptocurrency market.
A Mindset Shift for Investors
Crypto Jebb urges the importance of a mindset shift from being a spender to becoming an investor: “Give yourself a demotion on your lifestyle… now you’re living on 50, 60, 70, 80% and you got some margin to invest.” Embracing this new mindset paves the way for effective wealth-building strategies in both stocks and cryptocurrency.
Ethereum ETFs and The Path Forward
Ethereum ETFs are expected to go online soon. “Ethereum ETFs coming online as early as September,” promised Jebb, which could unlock new investment waves. With all these bullish developments converging, he predicts that Bitcoin will “go to north of $100,000 in the next 12 months.”