In today’s stream recap Sin City Crypto takes us through Algorand’s charts, Lazy Politicians, and much more. Watch to find out!
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You know what pisses me off is he is Over here yelling and screaming and Serving lawsuits and well notices to People saying the laws are clear you Know what's a security you don't even Know what's a security Thank you Uh there's a handful of cryptos that are Deemed Securities Al Goran being one of Them uh there's also Dash and a host of Other ones but algorand is the most well Known of the group there my anticipation Was being labeled as security uh would Uh seen a massive price shock or a dump The fud I think would have kicked in or At least that was my thoughts I didn't See too much price movement uh at least Not in not the to the level that we did We had a little sell-off uh what is the Algorand charts telling you yeah Absolutely so in my opinion the reason You're not seeing a large sell-off in Algrand is because no one's taking Gary Gensler's opinions very seriously Anymore uh we already know he's very Anti-crypto we already know that he's Tried to label everything except Bitcoin A security so it's kind of like in the Bull market if you remember Elon Musk Talking about Bitcoin or Michael Saylor Talking about Bitcoin in a positive Manner like when Elon Musk first bought Bitcoin coin and Dogecoin that was huge News and it pumped the price quite a bit
But then every positive thing he said About Dogecoin and Bitcoin thereafter Kind of had diminishing returns because The market had already started to price In that Elon Musk was you know Pro Dogecoin Pro Bitcoin when he tweets out Yeah you get a small pump but it's not Like a lights out pump so in my opinion The market is already priced in the fact That Gary Gensler is a very anti-crypto And if he wants to sit and and you know Talk about algorand being a security or Whatever he we already know he thinks Everything's a security so it's not new News or breaking news now I actually Think the our grand chart here looks Extraordinarily constructive so I again I like throwing on our easy bands to Kind of get a a picture of are we Overextended are we under extended Obviously in a nasty bear Market you can Ride these bands all the way down However this tells us when we're over Extended and we need to be in a profit Taking mindset when there's a high uh Risk of a correction so right now we see We're actually just loading up uh under This resistance of our 21 week simple Moving average which is our purple Dashed line here and we're actually Seeing what is a bullish pattern here It's hard to deny that this is a bullish Pattern that that is a an ascending Triangle right in ascending triangles
Are one of my favorite patterns to trade Because they are so forgiving in terms Of where you put your stop loss so if we Throw on a long position trade here Um and again these break upwards I Believe with uh around 60 or 70 percent Likelihood I don't have the exact stats On this but I believe it's around 60 to 70 percent which does mean occasionally They will come down and they'll break Down and you'll you know there's no such Thing as a guaranteed move out of crypto But this is a bullish pattern and that If we just buy the trend line right we Have a very clear trend line and we just Buy the trend line you can even buy Right now at 22.16 and then you just keep your stop Loss here here very tight wherever the Pattern is invalidated so if algrand Comes back down to 21 cents and takes Out this prior support here we're Invalidated the beautiful thing about Ascending triangles is we get to Target Considerably higher a lot of times these Ascending triangles can break out and in A very explosive manner so just Structurally here a retest of 29 cents Doesn't seem out of the question that's A risk reward level a risk reward ratio Of 6.5 to 1 which I I really don't mind This trade at all right now do I think It's it's going to be a hundred percent Hit rate no is there going to be some
False breakouts sometimes sure but if we Align ourselves with probabilities we Just say hey this is loading up against Resistance and we break out of this uh We're looking for pretty high levels Last thing I'll do here is throw on the Long margin pressure levels off of our Most recent swing low to really get a Solid you know idea and grasp of where We could potentially Target so off of Our bear Market low for algorand here We're looking at potentially 32 cents as A big resistance level and then if I Move this to our most recent swing low We also get uh 35 cents as a potential Resistance level and you see some Structure to whoops some structure to These levels over here prior support Prior resistance potentially could come Back in but these ascending triangles Are uh in my opinion one of the easiest Patterns to trade because you get to you Get to keep that stop loss in very tight The other thing about these is that as This you know Trend continues you can Actually move your stop loss up into Profit because your invalidation point Continues to move up with the uptrend so Even if we're wrong and this does break Down at some point in the future you can Already have your stop loss up hiding Below this trend line Um well above your entry point as this Continues so imagine you you know
Entered right down here at 21 cents Right you could already have your stop Loss and profit holding below this trend Line for the move up boards and if we Move down you didn't lose any money so Ascending triangles love them bullish Pattern for for our grand I think Algorand actually looks pretty decent Here you layer in the fact that Bitcoin Dominance is starting to fall we're Starting to see some altcoin speculation I think we could get a nice little pump Out of algorithm these politicians and Regulators are so lazy they're so lazy They refuse to dig into why if they Identify a problem they're not going to Go out and do research and spend time to Figure out you know what stems from the Problem they just step back and say Corporate greed they're Securities Everything's a security You know what's funny is that she could Literally pass legislation or or promote Legislation that can simplify and Clarify the tax code to her so that way It wouldn't take 13 hours well here to Her okay so she goes on a tweet well no I'm gonna quickly say it on that note go To what is it congress.gov and look at All the bills she sponsors what the hell Does she do in office like all of her Bills are the most useless wastes of Time I'm asking you you're setting your Chair now to make an assessment under
The laws as exists is ether a commodity Or a security Without speaking to any wine I know you Repeatedly said you're not going to Speak to one except you've spoken to one Bitcoin so I'm asking you to speak to a Second one the second largest market cap Here and speaking to the tokens there's 10 to 12 000 if there's a group of Entrepreneurs I'm asking about one Public is anticipating a profit based on The I'm asking a specific question chair Ginsler I said this in private this Should be no shock to you I'm asking This question is it an is ether a Commodity Or security and again it depends on the Facts and the law and if there's a group I'm asking about the facts in a law Sitting in your seat and the Judgment You are making and so uh Mr chair I Think you you would not want me to Pre-judge because you have prejudged on This you've taken you've taken 50 Enforcement actions we're finding out as We go as you file suit as people get Wells notices on what is a security in Your view and your agency's view I'm Asking you a very simple question about The second largest digital asset what is Your view and my view is if there's a Group of individuals in the middle Middle that the public is all right so Let me just ask a second
Dude did I answer the question just Answer the question is it a security or Not This is it's literally his job though Right your job is to determine what is a Security what is not a security and then You regulate What is a security You know what how can you regulate how Can you pass rules or regulate if you Can't even if you can't even come out as A chair and say hey this one is or this One is not it's been around long enough I don't understand why he can't answer That question you know what pisses me Off is he is over here yelling and Screaming and serving lawsuits and well Notices to people saying the laws are Clear you know what's a security you Don't even know what's a security you Refuse to say time and time again Whether it's a Services committee that's Asking you the question and you're Testifying or it's an exchange that you Brought into your office Or it's a crypto project Consistently you have been asked is this A security what is the security well According to the laws well you are the One who regulates the laws you're the One who enforces them and you can't even Say if the number two market cap Cryptocurrency is a security But you went out there and labeled
Bitcoin a commodity you know this asset Is so infuriating it is so infuriating It has to do with the court case 100 Percent Foreign Bug I was up all night on chat gbt Trying to get into give me prices but uh There are some roadblocks some safe Safety features that won't give me the Prices or at least the AI won't and but I do want to stay in the AI world Because it's all the craze and I was Curious if you can give me some Alpha When it comes to the AI coins and I've Been looking at this Ajax also known as Singularitynet and uh you got any off on This one brother yeah uh first of all I Am super bullish on agix Singularity net Uh anyone that's kind of been following Me already knows that I'm super big on This coin uh really jumping into this Coin like a really deep dive it is a Very super interesting if you haven't Like gone to like the beta 4 Singularity Net and browse like all the programs That you'll be able to use like it's Basically a Marketplace for AI like chat GPT for instance like kind of gave Everyone like put their finger on on the Button for AI let us use it the masses Use it for the first time but this is a Marketplace that allow that will have so Many different AI programs and Programmers can get paid in agix to put
Them on this front end and we pay them In agix to use them so there's you know Market trends Um word translators music D mixers where You can put like a music file in and it Will separate the drums the bass the Guitar the vocals there's so many cool Programs that like once people really Get a hold of these and really learn how To use them uh just efficiency in so Many different fields that's going to go Through the roof and I'm super bullish On what they're bringing to the table Here kind of just zooming out from agix For just a minute here What I this coin is kind of hard to Predict I mean it is a lower market cap It's like ranked 97 by market cap right Now um but basically last year the um The AI Market size the entire AI Market Was um 119 billion dollars it is Expected by 2030 to be 1.5 trillion Dollars so this is a market that is Still premature that is still going to Climb up substantially over the years Especially once we kind of get like Regulation into the degree like how much AI is going to be on our lives how often We use it uh how accessible it is X Y And Z so really this coin is married to The overall like how well all AI does And I really feel like this could be a Standout project like this could be like Amazon way back in the day except for AI
Now so this is one of those coins that It's really kind of hard to couple it With other crypto coins Um in general I find it interesting I Did cardano on the price prediction Department not too long ago cardano's Currently at 44 cents Um right now singularitynet is at 43 Cents uh but obviously cardano's market Cap is much much higher with a Circulating Supply that's much much Higher but this right now the market cap For agix is 525 million with a Circulating supply of 1.2 billion the Total Supply is 2 billion and that will Be released over time over the next 89 Years is what my research found so Basically this coin this year has Already completely gone blown everything Out of the water the first 20 days of The year it pumped 392 percent from the Beginning of the year to now it has Pumped over 800 percent but so kind of My thing here is how much more does it Have less how much can it keep going and Like I said that kind of all has to do With how fast like the rest of this Rolls out like right now the marketplace Still in beta like when will that roll Out I'm not sure Um in the past three months there's been A 66 percent uh increase in addresses on The network which is super bullish so More people are catching on to it
Um for cardano I gave a prediction of Five to seven dollars uh for this if it Had a six Um if it was six dollars its market cap Would be around 7 billion 7.3 billion so I'm kind of thinking that this will Outperform cardano in terms of its Actual price just because of how low the Market cap is and this is a new Um like new industry this is one of like The this is the beginning of AI Marketplaces and like if you watch the Interview that Ben did with uh their Founder who is also named Ben very Interesting interview I'm super bullish On this project if you can already tell That I'm looking at a price point of six To eight dollars top of the Bull Run November 2025 projected well thanks so Much for the alpha uh I have been I'm Looking at the AI ecosystem I think that It does have the potential in my opinion To rival what we saw in the last bull Market run where you had all the craze Being nfts and then metaverse uh I think That as AI interest ramps up uh Elon Musk has recently came out and said that They're launching a competitor to the Chat GPT truth GPT and we know how much He pumps the market so uh with that That's something I'm going to be looking Out for experts predict Major Market Shifts once xrp is classified as a Non-security a renowned Trader tree of
Alpha believes the event could trigger An uptrend for the top 300 assets in the Market uh they're saying that it could Potentially spark a market-wide rally as A legal tussle between Ripple and the US SEC draws to a close Market Watchers are Closely monitoring the situation and Making predictions about how the broader Crypto Market will respond to the final Verdict Thank you Foreign
