🎧 Thriller Coin Talk - S4EP27: Bitcoin in May
All you need to know for Bitcoin in May!
|Car Gonzalez||May 2||2|
Today we discuss Bitcoin in May
TradingShot Chart via Trading View
Bitcoin 57% Bitcoin Theory
Research and Analysis via Thriller Premium
Our May low should be 54K this month.
A16z to Launch $1B Crypto Venture Fund…Andreessen Horowitz (a16z) is assembling a third crypto venture fund, according to a report Friday in the Financial Times. Andreessen Horowitz‘s (a16z) second crypto fund showed the venture capital firm targeting specific areas to invest in the cryptocurrency space, which launched back in the summer of 2018 focusing on next-generation payments, decentralized finance (DeFi), new monetization models and Web3 (the concept of a decentralized internet).
The Federal Reserve on Wednesday said it would keep the benchmark U.S. interest rate near zero and keep buying assets at a rate of $120 billion a month.…Officials noted that “the sectors most adversely affected by the pandemic remain weak but have shown improvement,” also a change from the prior meeting’s statement. “Overall financial conditions remain suitable, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses,”“Inflation has risen, largely reflecting transitory factors.” (momentary)
SEC Delays VanEck Bitcoin ETF Decision to June at Earliest…The SEC announced Wednesday it was designating a longer deliberative period for the Bitcoin ETF application, saying it needed to ensure it has “sufficient time” to evaluate the proposal. There are 10 active bitcoin ETF applications, including VanEck’s, and the agency is currently looking at three of them. “The Commission designates June 17, 2021, as the date by which the Commission shall either approve or disapprove. The SEC can take up to 240 days to determine whether it will approve or disapprove the ETF application. To date the agency has taken the full 240 days for most of the bitcoin ETF applications it has considered, and then rejected every application.
Keep in mind…
Rumors of Walmart allocating to Bitcoin…Walmart says it will report before market open on May 18. Walmart owning bitcoin will create the ultimate exposure for Bitcoin to blue collar Americans and trigger a global monetary paradigm shift that is long overdue. They generated free cash flow of $25.8 billion for the fiscal year ending Jan 31, 2021, which increased when compared to $14.6 billion for the fiscal year ending Jan 31, 2020. So yes they have a couple billy to put into Bitcoin.
We have both Consensus by CoinDesk and Ethereal Virtual Summit in May…yes both will be online again this year. But we are expected to get some bullish news from both conferences, we can expect to be hearing all sorts of news & announcements from everyone in the industry this month. Ethereal Summit on the 6th & 7th, Consensus 24th - 27th.
Tether now allowed on CoinBase Pro…Coinbase announced Wednesday via a tweet it had decided to again further delay the launch on Coinbase Pro until 6 p.m. PT on May 3. It marks the second time in two days the company has decided to postpone USDT. This is bullish for Bitcoin…for all the reasons we are unable to discuss publicly.
Research and analysis of the Bitcoin market tells me…
Bitcoin is going to soar in May. Get your popcorn ready!🍿
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