Where is Bitcoin going next?

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6 • 658 Ratings

🗓️ 23 October 2024

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

Where is Bitcoin going next? Today we discuss Bitcoin and how it's currently crashing and what that means for it's future! We also talk about how consumer confidence fluctuates based on political affiliation and reflect on how political leanings shape people's perception of reality. We analyze charts "chart crimes," emphasizing how misleading technical analysis can be. We also touch on America's ever growing debt.

Today we discuss...

There's only two weeks between Halloween and the election!
The University of Michigan Consumer Expectations Index reveals an inverse correlation between political party expectations based on who is in power.
How political bias colors people's perception of reality.
A shift in political leanings of tech executives is observed, with a historical trend toward Democrat support but a recent swing toward conservatism in 2024.
The current state of leadership, with a lack of strong leaders across political lines.
The concept of "chart crimes", where misleading technical analysis charts often deceive inexperienced investors.
Bitcoin technical analysis is debunked, explaining that chart setups are not guaranteed predictions.
The U.S. may face bankruptcy within 5 to 10 years, which could trigger significant inflation and financial hardship.
The velocity of money and the trust in currency are key indicators to watch for potential hyperinflation or financial instability.
Bitcoin's recent rise is correlated with an increase in M2 money supply, and both Bitcoin and gold are seen as potential hedges against inflation.
There's uncertainty about how Bitcoin will perform in future recessions since it hasn't faced a major economic downturn yet.
Consumers are struggling with high core inflation, impacting necessary expenses like utilities and food, despite overall inflation rates declining.

For more information, visit the show notes at https://moneytreepodcast.com/where-is-bitcoin-going-653

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Douglas Heagren | ProCollege Planners

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Transcript

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0:00.0	Welcome to the Money Tree Investing Podcast.
0:04.8	Stock market, wealth, personal finance, value stocks, invest in your life.
0:10.9	Hello, Smart Money Tree Podcast listeners. Welcome to this week show. My name's Kirk Chisholm.
0:14.5	I'll be your host. And today I'm joining with my good friend Doug Heygren. Hey, Doug.
0:18.3	Good morning, Kirk. Happy to start another Monday with you.
0:22.1	And what better way to kick off a week than being able to sit here and chit-chat about
0:26.5	everything and nothing all at the same time.
0:30.9	Yes, our listeners will thank you, Doug, for talking about nothing.
0:35.9	It's good.
0:36.7	It's definitely fall. I woke up the other day, freezing. We didn't
0:40.6	have the heat on, and I think it was down to like 34 in the evening. It is officially fall. And we've got
0:46.7	Halloween coming up in about a week and a half, which will be fun. One of my kids is still
0:51.2	interested in participating in Halloween. The other's not. He's in the tweener stage.
0:55.9	You know, the younger stage, they're interested in Halloween, then they're not.
0:58.9	And then when they get to college, they get into Halloween because they can walk around
1:02.6	with pillowcases, fill it up for candy for the next six months.
1:05.9	And they get to dress like, well, I don't know whatever they dress like these days.
1:09.3	But anyway, it's a good time. We're
1:11.3	enjoying it. We have one, maybe two years left before they're not interested in Halloween at all,
1:15.2	in which case we'll just be the parents who still decorate the house for Halloween, even though our
1:19.5	kids aren't interested. You're in a pretty dense neighborhood. So do you get a lot of people
1:24.7	to come by where you live? Yeah, I mean, there's kids everywhere. We live near two schools. I mean, there's kids everywhere. I mean, everyone wants to
	...

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