Crypto regulation moving quickly, Binance hiring compliance director & Alpha Finance token pumping

G’day YouTubers and welcome to my Channel 1MJ.

G’day youtube one mj here and welcome back all right bit of a late one so wednesday evening here in australia and we can see the markets finally back over that 1.5 trillion dollar mark so things are looking promising still got to be careful could be a you know a bit of a dead cat sort of or not a dead cat bounce but look it could definitely be just another

Run-up before we see some more downside but you know we don’t want to focus too much on that and look i don’t think that’s what it is but we just need to keep it in the back of our minds but hey look market cap is up you know basically point three uh of a trillion dollars in just the last sort of little while because we got down to that one point kind of one 1.2

Trillion thereabouts and it was quite scary and look up 0.8 good thing is it’s only midweek so hopefully there can be some more upside but you know we’ll have to wait and see bitcoin dominance continues to drop so again the altcoins are heating up at the moment and i am super glad that i invested in the altcoins a while ago i didn’t invest at the lowest point you

Know some of them dropped another 50 you know from there and i did a bit of a clean up today of some of my uh coins that just hadn’t sort of performed that well throughout the whole sort of period uh and you know sometimes you gotta cull some and that’s just the way it goes and that’s what i did today uh all right so you get east dominance starting to rise in

The gas prices rising because people are starting to you know get on things like uni swap and you know moving their stable coins around and getting into all the altcoins at the moment now we can see that it’s a bit of a mixed bag there’s some up and down sort of stuff there but generally again the market is up only ever so slightly here but really in the last

Sort of week or two again we’ve gone from about 1.1 trillion to 1.5 trillion say things are looking good at the moment look let’s have a look what’s done well though what’s been the best performer in the last 24 hours in the top 100 actually infinity’s up nice and i mean have a look at that seven days that’s unbelievable but came from outside the top 100 so that

Probably sort of says a little bit right there why it’s moved so hard harmony seeming to move all right kucoin nice ftx token tara luna good i’m glad i’m just in the profit now i think i bought a round about this mark uh and it went down uh a fair bit before but i still like tara luna i think they’re a great project so i’ll hold on to that wasn’t going to sell it

Anyway uh decentraland stacks engine chili’s like all sorts of tokens having a move but what about the losses all right there definitely has been some and what you’re going to find is this is the coins that pumped yesterday so you’re going to have a day where they pump and then they have a bit of a retracement and then they have a bit of a pump later and then

A bit of a retracement so that’s what’s happening but look in the last seven days they are all up and up you know quite substantially generally so looking not too bad and again the losses are hardly anything plenty of double digit gains there only really two double digit losses and then just single digit losses but again you just jump to the right hand side

I don’t think anyone’s complaining if they’ve lost six percent when they’re up 56 over the last seven days now could this retrace some more absolutely but it could also pump really hard tomorrow we’ll have to wait and see and again synthetic network token one of my favorite d5 plays all right let’s have a look we’ll just refresh that 1.525 trillion yep still

Sort of hanging in there all right let’s have a look at the bitcoin chart and now all the things that were holding yesterday are still holding so again we still have this bullish divergence here on the rsi so we’re still going up and this is also still going up the macd it’s starting to get quite close now so again that could indicate that we have a little bit

Of a pullback or it could indicate that we have a really big pullback but on the actual chart itself again we are really just traveling sideways but the volatility is extremely low at the moment and again as i said yesterday it was really chop soaring over all over the place now it’s just getting really tight really tight really tight and you know you could

Probably draw a little bit of a wedge sort of thing there so what we’re waiting to see is which way do we break out we could just continue to go sideways that’s completely possible so just keep kind of edging along here or we could have a real violent move to the downside or upside because that’s generally what happens when this travels sideways for a while the

First move that comes the first big one not just a little candle but the first big move that comes whether it’s to the upside or the downside is usually pretty large when the volatility gets really really low and look even the volume is low at the moment so we’ll have to keep an eye out on that now look uh not a whole lot of stories out there but really all these

Stories pretty much focus on regulation so crypto derivatives exchange by bit is to introduce stringent kyc policies so they already had a little bit of kyc but they can all see the writing on the wall crypto bitcoin ethereum you name it we’ll just call it crypto it’s not going to be the wild wild west anymore if you don’t have kyc in place the long arm of the

Law and regulators and that will come after you and they will shut you down they already have been doing that so hence why even by bit about to go full kyc now again this kind of regulation is not that bad you know some people say yes it is for me again i don’t really care i’m fine with kyc and i’m fine with you know the government uh knowing how i’m spending

My money and where i’m spending my money sort of as long as they just don’t jump in and tell me again if it’s outright a legal different story i completely agree they have every right to come and put their nose in but outside of that you know as long as no one ever suddenly comes and stops you from doing what you want and they say oh look morally we think that’s

Wrong but it’s not illegal that is when i think you know we need to be worried but you know some regulation to protect the average user you know so again kyc and then you know knowing where money’s going and how it’s being spent i don’t have any problems with that whatsoever all right so allied this one not regulation this is actually quite bullish so allied

Payment network embeds bitcoin service and they say they will hold btc in their corporate treasury so it’s just another big business that’s basically getting into bitcoin and they’re going to hold bitcoin in their corporate treasury this again it’s that kind of trickle trickle you know we had a bit of a blow off top there and then we’ve come back down and settled

And now things are just starting to simmer again and most likely going to get ready to you know lead to the upside in my personal opinion not financial advice but another big payment network they’re putting bitcoin in there so people are going to be able to buy trade sell bitcoin and all the rest of it and they’re also going to hold btc themselves in their own

Corporate treasury so pretty bullish if you ask me now more regulation so amid the growing regulatory hurdles binance has strengthened its compliant its compliance team by hiring a new director jonathan farnell so he comes from the crypto friendly trading platform etoro where he occupied the same position and was also a board member of and head of compliance so

By nance again they’re having all sorts of issues at the moment and having to withdraw out of certain areas and stop certain services i wouldn’t worry too much it is going to be a bit of a hassle for binance for a little while they’re going to have you know some regulatory issues but i have no doubt they’re simply going to get on top of this stuff and get fully

Compliant and regulated you know cz is not going to let binance simply disappear now even though he’s a billionaire he could if he wanted to but he’s not simply going to let this uh exchange and platform simply die off because now regulation has come he just now knows that the you know kind of wild wild west day is a crypto and that’s the best way we can call it

They really are coming to an end you know this corner you know regulation kyc and that and you know aml all the rest of it is sort of here to stay and you’re either going to get on board or they are going to come after you and shut you down and you know they may not be able to shut your thing down on the internet but they will shut off all the avenues you know to

Your sort of sites and that and basically then just you know suffocate them from the outside in is what i see sort of happening anyway and again i don’t see finance letting that happen i think they’ll get it fixed so more regulation here we can see fincen appoints its first chief advisor for crypto so even they’re getting specialist roles now for people in crypto

The writing is on the wall that regulation is coming and it’s coming you know i wouldn’t say fast but it’s definitely not coming slow but it’s not coming hard and fast like you know the regulation is not going to come in and stifle this they just can’t afford to this like everyone now can see it from a mile away other than people who want to stick their heads

In the sand and pretend like this is not happening crypto is here to stay it absolutely is the future and it absolutely is going to be adopted 100 i have no doubt about that whatsoever and again that’s not financial advice that’s just my personal opinion but i can’t see any way shape or form where crypto is not adopted and particularly now that you know china

Have really pushed them out uh you know of china all the bitcoin mining and all that kind of stuff america needs to find a way to stay on top and i think they’re going to jump on the crypto train in in all fairness i think that’s what they’re going to do and they are already you know the most ready for crypto as we saw from that survey the other day so what does

That tell you that tells you that you know that it’s set up for it to happen there’s just all this kind of hoo-ha and trying to slow it down and make sure they’ve got everything ready before it happens and you know i really hope australia is kind of taking notice and they’re going to get on board and be one of the leaders as well because you know while australia

Is a leader in some areas we definitely fall behind in a lot of places and i think you know we could really change our financial sort of space if australia were to get on the front foot and i hope they are planning something like that so you know scomo if you’re out there and you’re listening mate this stuff it literally is going to happen and we need to be on

The front foot to be one of the leaders in that space right alpha finance lab so it rallies 50 as project fundamentals improve this is a coin that i picked up uh in the dip and again i didn’t buy it at the exact bottom but i bought it for about i don’t know a third of the price of its old all-time high does that guarantee that it’s going to get back there no

Absolutely not it doesn’t but if it does then i’ve basically you know sort of you know nearly tripled my money let alone what might happen if it goes to its new all-time high and you know i’ve already started staking half of it as well so half of it i’m leaving there to sort of see what happens and the other half i’ve got staking and if the price just continues

To go down and never kind of really gets back to its old all-time highs then i’ll just stake it and let it go i didn’t bet my life savings off it but i do like alpha labs so we go down here they’ve also had a hundred percent 110 rally in the price of alpha finance over the last four days now what’s been the catalyst to that so alpha ahamora version two has been

Launched now it also says here alpha hamora v2 which brought a new level of imp interoperability to the project by allowing users to conduct leverage yield farming on curve balancer sushi swap and uni swap so again this is a project that i’d heard about for a while and i felt like i’d missed it and you know luckily i had taken some profits and then we had this

Really big retracement and i got in and again as i say you know a number of times on my video you don’t have to pick the exact tops and the exact bottoms no one does and that’s the truth remember what uh i can’t remember his exact name but he’s one of the old rothschilds he said he never picked the top or the bottom and he didn’t have to he made all his money

In between and that’s exactly i’m following that mantra to a t i don’t care if i don’t buy things at the exact bottom if i do get lucky then i’m you know i’m grateful for it and i don’t care if i don’t sell at the exact top i sold bitcoin at 47 000 and i thought oh god i was kicking myself when i saw it going up to 60 something thousand and i was like i guess

I sold too soon still sold at a profit so i made money and then what happened to bitcoin it went down and i bought some at 39 000. i bought some at 34 000 and i bought some at 31 sort of 32 000 say in the end it did pay off and all i think about is what that rothschild said yeah don’t worry about picking the exact top don’t worry about picking the exact bottom

I’m going to make plenty of money simply in the middle there now can i keep doing that only time will tell all right last but not least so a survey was done here and this was done over in europe so it finds 40 of institutional crypto investors intend to buy a lot more forty percent say they’re going to buy a lot more but it gets even more interesting so a new

Surge survey suggests that hedge fund executives wealth managers and institutional investors already holding crypto assets and intend to increase their holdings now it says here the crypto survey sorry the survey conducted by london-based crypto fund uh nickel digital asset management revealed that 82 of the 100 investors and wealth managers polled expected

To increase their exposure to digital assets between now and 2023 that’s basically all of them you know we’re talking 18 weren’t going to put any more money into crypto the rest of them were what does that tell you again this space is growing yes we’ve had a correction it’s been a healthy correction it’s got rid of all the you know all the speculators because

Speculators that’s you know if you’re an investor you love speculators because they come and push the price up you know to where it’s overvalued and then hopefully you’ve sold and taken some profits eventually they get shaken out because they can’t handle the downside and hopefully you’re able to buy back into the good projects at a cheaper price and that is

How you really build a massive portfolio and remembering what that rothschild said doesn’t matter if you sell the top sorry it doesn’t matter if you don’t sell the top and it doesn’t matter if you don’t buy the bottom you’re going to make plenty of money in between all right that’s it from me stay safe be kind to one another hopefully you’re on that gain train

At the moment and i’ll see you next time

Transcribed from video
Crypto regulation moving quickly, Binance hiring compliance director & Alpha Finance token pumping By 1MJ One Mans Journey