BitBoy Crypto’s new video discusses recent developments in cryptocurrency regulation. A proposed digital asset commission bill is dead on arrival, and a new crypto bill from Lummis and Gillibrand has been reintroduced to regulate CFTC and SEC actions. House Speaker Patrick McHenry has stated that crypto regulations will be in place within two months. BitBoy Crypto also discusses a potential market crash, with cycle patterns suggesting a drop to $23,300 before rebounding. The video ends with a mention of Gary Gensler and an upcoming exposé on his double speaking, as well as an Elizabeth Warren exposé.
Welcome to BitBoy Crypto! In this video, Ben talks about what’s happening with Gary Gensler and regulations. He also delves into the reintroduction of a crypto bill from Lummis and Gillibrand, and how it ties in with the “Sell in May, walk away” theory.
The Digital Asset Commission Bill
The bill to create a digital asset commission with seven members, three from the crypto space, two lawyers, and two members of the CFTC, is dead on arrival.
The Crypto Bill from Lummis and Gillibrand
Now, there’s a new crypto bill being introduced by Lummis and Gillibrand to put regulations for CFTC and SEC into place. The bill was initially introduced in 2022 and is different from the Stabenow bill. It would be interesting to see what happens with the bill once it’s introduced – if it’s for better or worse.
The Crypto Regulations by Patrick McHenry
Patrick McHenry, the speaker of the House for the Senate, is introducing a bill that would ensure crypto regulations within two months. This is important because it’s coming from the House Republican side.
The “Sell in May, Walk Away” Theory
The 4-year cycle for Bitcoin is typically 3 years and 10 months. According to the “Sell in May, Walk Away” theory, the 2024 halving should be in March. In 2019, which is the 4-year equivalent of the current year, we started pumping all the way up to $14,000. If the cycle holds and the theory is correct, we’ll reach the top in May before going down.
Gary Gensler’s Double-Speak
Gary Gensler has been exposed for double-speaking on Twitter, and we’ll be covering that in a video. He had previously said that three-quarters of all ICOs in the crypto space weren’t security, but he’s now usurping the power.
Elizabeth Warren Exposé Video
An Elizabeth Warren exposé video is also in the works. Ben will be in the studio for a week before heading for Bitcoin Miami.
Buckle up and get ready for exciting times in the crypto space! Things might get crazy, but BitBoy Crypto will keep you updated on all developments.