(Friday) Bitcoin and cryptocurrency update

back guys to another episode of box mining so we have quite a lot packed on the market today we've seen the markets showing a little tinge a little tinge of weakness today so we have a little bit of red in the past 24 hours and does this really mean that this whole fun is over well i have a surprisingly different opinion of what's happening on the market right now we're going to talk about that today so we're going to do market overview we have tons of news as well like it's flooded by news this week has been pretty packed so we're going to do a whole new segment today on box mining's live stream we also have doge right doge has been number four crypto well well right now it's number five now again so it you know it's it's it's almost there so yeah it almost flipped ripple as the number four cryptocurrency in the world and how am i trading that i've been aggressively trading it in the past week i'll tell you guys a little bit my strategy and does it involve a lot of buying or selling well yet again we'll find out in today's that i'll outline the entire strategy here and tell a little bit about these cycles micro cycles mentality cycles going on obviously not trading advice but it's just my trading strategy so to say the very least and finally we have a few updates on what's happening on the cryptocurrency all coin space that is packed for today's episode and we'll kind of see like um i want to highlight of course was this last talk with us with um on but um crypto with friends so you guys know i have a crypto with friends episode with some folks down at um this this this one was pretty good this one was um nate robin and matt and we had both a combination of bears and bulls battling it out discussing kind of situations so when i'm bullet or when people are bullish or bearish i totally recommend that you guys check out this episode but it's extremely reasonable something i found that with both um the episode and the setup was that people were very very reasonable after their expectations they're all veteran traders every one of them has been through a bull and bear cycle so they know they know that mentality going forward they both been full of euphoria and full of battle scars from 2017 so definitely hear that i'll check out that video and we're going to kind of continue on that story my narrative has also changed slightly and it's a combination of two factors one is obviously talking with a bunch of people and some of them bears some of them both uh we'll see which side i'm landing on but also at the same time we're looking at the market strength at this current point so we're going to discuss all of that on today's episode so should we bring the bears out we got bears on the we got bears coming in this is from all the way from christmas bears coming in are they going to dominate the market or should i you know get my mcdonald's hat ready we've got some props on for today's show so guys today's show it's going to be packed so guys smash up that likes if you don't want to wear these hats and flip burgers smash up those likes it really does help the channel it helps you as well because obviously the bigger community the smarter we are let's get started and smash the subscribe button you know notification bell all the cool stuff let's get started all right so let's take a quick look let's do all we always do take a quick look at the market so right now it does seem to be the case that you know some red some reds appearing a little bit little sprinkle of red on the main cryptocurrency so bitcoin's down two percent ethereum down one percent binance coin down four percent ripple and doge so doge took the biggest hit today all right doge took a giant hit it's now the number five cryptocurrency even though it was number four earlier this week but it took a big hit today obviously it's been up 70 percent in the last seven days so it depends on which chart you look at today versus the week and where and how euphoric you are so anyways so what's the take on this market obviously it's not a big pullback and we haven't seen that for a while but the market is showing us you know what slow down a little bit slow down a bit that's what the main coins are telling us you know it's you know ethereum pushed up quite aggressively and if you take a look at the charts right so bitcoin is pretty much behaving inside this little box that we drew up earlier so this is where the resistance for bitcoin is at sixty four thousand dollars and this is where our support is right we haven't really changed this regime for bitcoin a bitcoin narrative has stayed relatively stable we know that institutional investors are coming in and bitcoin has really fallen out of favor during an all coin cycle you guys know that we're in the midst of a very very strong all coin season right now so if you look at the charts or look at the um this rainbow chart here this is my favorite rainbow chart so this goes all the way from 2020 so there's a over a whole year we've seen a huge all coin cycle then a huge bitcoin cycle bitcoin season and now we're in the midst of a very very strong all coin season so in many senses this is why bitcoin is staying in its little cage right it's right now the institutional investors are getting in they're being aware they're more aware of bitcoin now but at the same time eyes are going over and looking at ethereum and other cryptocurrencies ethereum and friends at this current point doge etc etc so you definitely saw if the breakout happened last the end of april so after april we broke past 2500 finally right finally broke past that point and bam right we went on a ride up and we were trying to figure out right last stream we're trying to figure out where the resistance for ethereum is right where when is it going to stop and it didn't really look like it's going to stop until 34 34 hundred dollars for ethereum so this is where yet again uh ethereum is taking uh ethereum's moved up a lot and of course the outer coins are also moving a lot today as well so if you just take a quick glance too i mean yes dogecoin is down but you got quantum right quantum is up basically double double right this is one of the craziest rides i've seen we got omg up bitcoin diamond right all these like kind of forgotten coins all the way back from 2017 they seem to be resurrecting from their grave ontologies up eos is off eos is not dead obviously apparently so yeah we've got vechain also pushing up today as well with hazel's amp yeah definitely a very resurrection oriented market today but at the same time we do have some pullbacks for coins that have moved up aggressively over the past week so yes dogecoin is down but it's moved up 70 percent of past week bitcoin gold similar story here flow just took a little bit of beating but you can definitely see that the narrative is very very smushed in the all queen season but but but but but something i do say is that there um doge is becoming a very big indicator for me all right so in this market doge has been becoming becoming an endless indicator right why it's because there's infinite amount of social media if you look at tiktok you analyze what's happening on tiktok and i'm just show you this tweet um this stream very quickly so if you um let's see we got we got this here we got let's let's watch a little bit of this rap song here on doge let me get my headphones out let's get let's get let's take a quick look at this hopefully it's not it's from reason but it's not super tastefully and super well let's let's take a play on this gibberish Thank you. Thank you. Thank you. Maybe that's good. All right. Since we... All right. Let's get the music on. Let's go. CDs are pointless. That's not very funny. What would you like me to do? Put it all in dog money. Dog money. Dog money. Dog money. Dog money. I'm trading it in for dog money. Dog money. Dog money. Dog money. Dog money. I'm putting it all in dog money. My 401k is now a 401k9. The sum of my net worth ain't no longer in a straight line. I'm making small moves. I ain't gonna be a pun. I sold my IRA and bought an NFT of one. Falling on Doge. I dish them out like a Tommy gun. You'd think I was statehood the way I'm passing on Washington. I feel like Matt Gaetz. You know what I mean. Assuring everybody it's above 18. It's a modern day gold rush. The prices will boom. Like Reggie White versus the Oilers. I'm headed straight to the moon. My broker's calling. You know that it's on. Buy dog money. Don't stop till it's dawn. One more air base. Two more museums. Three more walls. Four more Supremes. Five more stadiums. We're all out of fiat. Can you take trillions of these and go and make a Xerox? We pay our debts and our currency. That might be unfurled if it's no longer the reserve currency of the world. Confidence in the dollar is permanent. Just ask any scholar. People are exchanging their dollars for dog money. Dog money? Dog money. Dog money. We trading it in for dog money. Dog money. Dog money. Dog money. Dog money. I'm putting it all in dog money. So, yeah. So, people who are asking this is on reason. So, man. That was hilarious. I love that. Dog money, man. Dog money. That's the state of the economy, right? I absolutely think it's true. But at the same time. At the same time. At the same time. All right. Voice of reason here. Voice of reason here. Dog money. Dog money. That's going to be a fun trade for a while. So, we're going to talk a little bit about my take on dog money in a sec. There's a lot of trades. So, that's been my main trade of this week. It's been super awesome. And super. But, yeah. I'll tell you about that in a quick second when we do the trade updates. But that's kind of the current take on the market, right? We've got Rapsons coming in about crypto. We've got TikTok coming in about crypto. Dog money is number one right now. That is also making me a little bit afraid. Just that little tiny thing. So, we'll bring the first bear out. That's the first bear sign you want to see. Number one bear sign. All right. Number one bear sign. That is the dog money videos. All right. So, next up. Okay. So, how do you take that? How do you take this going forward, right? So, if you bring that to reason. It takes me a while to bring myself to reason. But right now, there's definitely a lot of excitement going on. There's a lot of people eyeing what is going to happen with Doge. Especially as Doge nears the big event that's happening for Doge. What's the SNL skit by Elon Musk? All right. That's going to be the number one event that might drastically change everything. But what I feel like right now is because there's so much social media. I've been analyzing. You guys probably see me. I've been analyzing TikTok nonstop. And a lot of new people coming into the space, which is great. But at the same time, the amount of real understanding in the space is very, very weak right now. Super, super weak. So, that is making me a little bit scared. And we'll tell you my strategies. In a sec, let's go very quickly and take a look at the news as well. So, let's do a very quick news segment to break everything up and break the pacing up and see what's happening. So, first of all, SEC chair. This is the negative news coming in, right? So, SEC chair. Congress should consider regulating cryptocurrency exchanges. I think this is bound to happen. We're going to see endless amount of, you know, regulations are coming. This is the new winter is coming of 2021, right? There's just so much going on in crypto that people... Because there's so much money being exchanged, right? You definitely see and also you can see the evidence here as well. We got the other news that was very, very quick up on Decrypt, which is SquarePost earning surprise. Bitcoin revenue up 11x, right? So, on multiple exchanges, we see on Square. We see on Robinhood. We see every merchant, even like Coinbase, obviously, right? All these exchanges are accepting crypto. Their revenues are just shooting up because people are trading this, right? Every time people trade this, exchanges make money. But this also means that Congress wants to... Well, SEC is pushing for Congress to regulate this because, obviously, they want some of the tax dollars. They want the money too, right? It's just only logical to regulate this. And the other reason, obviously, is because if there's too much heat on this, obviously, the government always wants to come in and poop on the party a little bit. But also about making sure that people are safe. You know, don't throw the 401k into everyone. So, everything. So, definitely expect more regulation to come. Right now, you know, there should, right? There are hints. But who knows if, you know, at what point of time and what sort of regulation is going to come out. Congress always reacts a little bit slow. You know that in crypto, a week is like a month, right? A week is almost like a year sometimes. So, if they stall this for three or four weeks, right? The whole market is going to be completely different by then. So, we'll have to see how that goes. Now, we also have some NFT news. You can now buy Banksy with Ethereum or Bitcoin from SavaBeast. That's kind of expected. The whole NFT space is taking off. All these art merchants are realizing, you know what? You know what? This NFT thing. This NFT thing. We need to get involved. We need to get involved right now. So, yes, this is definitely happening. This is where mainstream people understand art a lot more than people understand money. Right? So, that kind of makes sense. All right. This also comes at no surprise. Goldman Sachs to offer Bitcoin derivatives to Wall Street. They said that to the Wall Street report. But who is surprised by this? Who is surprised by this? They understand that people want to trade this now. Right? Like, Goldman Sachs was not very into crypto 2017. Let's just say that as an underestimate. Right? They, you know, they're on a bunch of banks that call Bitcoin the shadiest things for a long time. But they realize money can be made here. Money can be made here. Let's not let Coinbase and FTX steal our lunch for guys. You know, these institutional investors, they want to trade. Right? They want to trade. So, yet again, they're jumping in. They're jumping in Bitcoin futures. Enjoy. Enjoy. Enjoy. So, I think one thing that's, I think this is given, that's true. And once Goldman does it, I think every other bank is going to do it. Right? That's the way. Goldman's always early. Right? Goldman's always the early one to dump on everyone's faces. And everyone, other banks are going to jump in and dump afterwards. Right? And then they're going to report huge losses. Right? Remember the whole scandal with the big fund that blew up? Goldman was the first one that sold. Remember? Goldman? That's the first guy. So, Goldman's also the first one to offer a Bitcoin or suggest they're going to offer Bitcoin derivatives. And that's coming at no surprise to us all here. Let's see what else is on the news. This is kind of interesting. And DeFi may lead to a paradigm shift since the Federal Reserve Bank paper. So, this is a paper published by Fabian Scholar. So, this is very much validating what we've seen in this space. Right? Decentralized finance has vastly changed how we looked at traditional finance. Right? And this also is leading to more and more people, including people in the Federal Reserve, and looking at this and saying, you know what? This can offer a more transparent financial system than what we used to have. This is very interesting. Right? This is a very different narrative from, say, something like 2018, 2019, where people viewed decentralized finance as like, huh, is that what the new kids are into? Like, what is this crap? It's never going to work. So, now we're going to, we're having a complete different narrative going on, which is positive, which is positive. Right? And then we have Bitcoin futures. Ethereum futures volume is outpacing Bitcoins. I mean, that's kind of expected. Bitcoin's stuck in this little cage. Right? Why would you want to trade in a cage when you can trade a rocket ship? Right? So, that's kind of expected coming out of the news. We also have Bitcoin clips 58K as Dogecoin stalls and adoption news fuels new bulls. All right. So, it's a drama on the market. It's a drama on the market. All right. And then last bit of, let's finish up the news. We've got MasterCard surveys. It's two-thirds of millennials increasingly open to crypto. Who would have thought that Dogecoin would have done it? But, you know, all these TikTok videos, all these investors are, they're interested now. They're interested. Like, people are interested. And something that's quite interesting and, you know, being a, being Boo or Michael moment, it's like people who are younger have a lot more access to investing, which is amazing. Right? They might not make the first right choices. Right? But they know, they're getting used to this rhythm of investing. It takes a long time. It takes a lot of experience. And getting in early is smart. Right? So, this is one of the smartest moments of history. People can really easily just even use, like, I mean, just apps that allow you to, like, what? Every time you have change from a star, you can immediately use that to invest. I mean, these interesting concepts are coming in. Right? To push people to invest earlier. And I think this is super key. Like, this is something I would have appreciated if I, when I was, like, 20, when I looked a little bit more into investments. When I was 20, I thought, oh, you know, that's what old people do. But, anyways. So, yeah, two-thirds millennials open to crypto. I think this is great. This is going to be the fuel for our next big run up. All right. We also said Bitcoin is coming to hundreds of banks this year, says crypto custody firm NYDIG. So, yeah, I think it's pretty clear that the institutional investors are reacting to, or the institutions, rather, are reacting to Bitcoin very, very aggressively. They really, really want to get on board this wagon because they know people want to trade this. Right? That's the power. When people want to trade, right, that's an immediate sign that services are going to get built. And the more services that are built, the more people that can come in. So, all of this is super positive, and this is why, yet again, let's move this little bear aside. All right. That's the positive. That's the positive driving factor for everything here. I feel like at this current point, I still feel that in this current point, we're still here. Right? I still believe this. We're still here. We're still in the middle of this bull run, and we could move to this red-hot zone here. The red-hot zone would be $150,000 for Bitcoin. For Ethereum, I think they can easily hit $10,000 during the maximum bubble. Right? The maximum bubble, the maximum hype, the maximum territory, everything. That's going to be it. But however, however, however, however, that being said, here's my take on this. Right? And I'll tell you my Doge trade, and this will kind of key in on why I'm a little bit more cautious and everything that's going on. So let's move quickly to Doge, because Doge, obviously, you guys, seeing dog money is taking up a lot of activity. And this week, of course, we know Elon Musk is going on SNL. He's hosting SNL this week. And on Friday, what am I doing, Michael? Friday, Saturday Night Live is on Saturdays. Right? So, yes, it's going to be on Saturday. It's going to be he's hosting it, and he's confirmed that the Doge overlord is there. Right? Right? But however, of course, we know in crypto, what happens is people always buy up the rumor and sell the news. So this is exactly what happened. Right? So this is you can see this moving up. Right? Like last week, we talked about this on last Friday. All right? We gave you guys one week and a bit more. So one week and a bit more notice, of course, that Elon is going to do this crazy thing. And everyone just jumped into the bandwagon. And we saw it really mooning on May the 5th. So I did make some fun trades. So I'll show you guys a little bit. I'll zoom in here. So this is really much on May the 2nd and towards the 24th of April. Right? So excuse my screenshots. They're really terrible. You guys know. But at the same time, I can't really go around, you know, showing guys my main trading account. So what was my strategy here? So when people don't talk about Doge, I kind of buy it. That's my kind of my trading strategy for Doge. And I don't just buy Doge. I buy Doge bull. All right? So if I'm going to trade, I might as well go ape on this. Right? So what I did was I bought at these two main points. You can see these little arrows here. These represents buys. All right? These blue arrows represents buys at what price? Roughly around 30K. Right? So why is this a lot larger? Why is this number a lot larger? It's because it's a leveraged token. All right? We'll talk a little bit about this. But I'll just give you the strategy. It basically reacts. The Doge bull token reacts to the market at three times the market. So if Doge moves up 10%, Doge bull will react and move up 30%. But at the same time, if Doge bull moves down 10%, Doge bull will move down 30% too. So this is a situation where Doge bull is... It's good for trades that you feel like it's going to have this momentum. So I traded this a little bit earlier. Earlier in May, when people stopped talking about it, then when the whole Elon Musk thing came out, that's when I got into Doge bull. All right. So that was May. And then towards this push up, right? I did sell here. So you can see the red arrows. You guys see the red arrows here. Oops. Oops. All right. You guys see the red arrows. All right. So the red arrows here, that's roughly on the 4th. Okay. That's 4th. That's a few days ago, actually. So today being... Yeah. That was on Tuesday to Wednesday time. Tuesday to Wednesday time. I did sell a little bit, taking a little bit of profit, right? Because right now that's at 12K. So entry price 30K going to 12K. That's like... What is that? That is like 4X. Almost 4X, right? So I took a little bit of profits. And then, of course, I missed out on this big one, unfortunately. So this is the other chart. Excuse me for giving you guys two charts of the same thing. The reason why is because on the newest chart, on the latest chart I had today, I don't have the entry prices in. So you guys use this to see the entry prices. And then this to see the red arrows here to see the sell. So mostly sold on the 4th. And then the other sell is roughly today. So why sell? Why sell? Well, why sell? When Elon is meant to go on Saturday Night Live, it's Saturday. It's still Friday over here or Thursday if you guys are in the States. But why sell now? It's because a lot of times when the event happens, right? When you identify something that everyone is looking at, everyone is looking at this event to be a big moment, the watershed moment, right? That's going to be where the most of the volatility is going to be. And sometimes it can go drastically down if what's being presented doesn't fill the expectations of the people who are buying up the coin. And we saw that a lot. We saw that a lot in 2017. There was an event. There was a NEO conference. The very first NEO announcement conference was held in Microsoft headquarters. And that was when NEO took the spotlight. It shot up from $2 to $15, almost $20. And when the event happened, the price just crashed down to $5 and it moved to $10 and it crashed down a little bit more and it moved up again. A lot of times what happens during the event, because people's expectations are just too high, right? What happens is that they start dumping when their expectations are not met. So this is a situation where I'm like, I don't want to play for Saturday. Like Saturday will be a time where I don't want to be holding too much positions. So on the rise up, like I'm anticipating on the rise up. That's where most of the trading action is. And it did turn out to be that case, right? Right now, so far, there's narrative so far. So yeah, so right now I still have around 20% off my original position to see what's happening. But at the same time, 80% of that is now sold, right? That's gone, right? That's where it took some profits, right? It took some profits off the market, right? The hype might, you know, when it goes down to Saturday, right? Who knows what's going to happen? Who knows what's going to happen in this situation? I mean, last time we did a NEO conference, people expected like, you know, it was held in Microsoft headquarters. People expected Bill Gates to just pop up from the ground and say, oh my God, NEO is the best coin in the world. We're going to party. We're going to like partner with them endlessly. You know, people had these insane expectations. So yet again, I'm realizing that. I'm realizing that these dog videos are doing a lot to people's brains. So yeah, that's why I'm cooling off a little bit. Same thing goes with the rest of the market. I feel like I kind of expected. Um, so during this trade here, I sold some here, obviously, right? But I expected this run-up to be a little bit stronger, to be honest. Um, I saw this run-up here. I thought maybe Doge can have some strength. Everyone's talking about $1 Doge, which will lead to almost a 400,000 Doge bull. I kind of expected it to go a little bit further still. But yet again, this is where, this is where, you know, hindsight is 20, 20. I should have sold more, but whatever, right? Um, you know, so I saw some here. I kind of expected this to move up a little bit more, um, being stronger towards Friday. But the pullback, I think people are realizing, I think a lot of people are realizing, you know, the hype is a little bit too big at this current point. We'll have to see, you know, um, yeah, yeah. Like Doge number four currency in the world. There's still a lot, a lot of issues going on. I'm not trying to flood it. You know, I'm still holding Doge bull. So I'm just, don't get me wrong here, but I'm definitely in a position to take profits. You know, the rule that I have at this current point in crypto, which is that I do not short any currency. Anytime I feel like something might go up, I might just buy. Um, and then when it's, when it's moved up, I don't ever short, but I do sell my holdings, right? That kind of makes sense. The reason why I don't short is because sometimes when you're short and you don't protect yourself, you can end up with racking huge losses, right? Because if the current coin moons, you're totally wrecked. So this is why I have a rule, um, in crypto don't short. And I think I've had, I have a few friends that started shorting when, you know, when they see the markets moved up too aggressively, they start shorting. They're like, Oh, I'm smart. You know, uh, the market's super irrational. Uh, if it's irrational, I should short because everyone's bullish. Right. But you definitely know, uh, markets can stay irrational much longer than you can stay solvent. So this is why I'm not, I'm not shorting, but I did take some profits off my doge, uh, position, uh, rest of the coins. Am I taking profits? Am I not taking profits? I took a little bit of profits on ETH. I think we're moving into that new epoch and we're moving to that new regime. Who knows, um, if we're going to fall back, we're going to have an opportunity to pick up some coins here. So this is why I took a little bit of profits roughly around here, um, today and a little bit earlier yesterday. Um, just run around these two points. Um, if this is truly where the resistance is, and this is a top, a peak of the resistance, then it, you know, if as a trader, I want to take some profits and then potentially buy back in at a lower point. So that's, that's my current take on everything that's happening on the markets so far. All right. Taking at, taking a look at the chat. We have some bears in here. We got Mick Howell says dump everything, dump it all, dump it all. Everything's, everything is done. I feel like, um, there is definitely a lot of excitement right now. I feel like this is a situation, right? I mean, if I, if I take a screenshot of this and I'll draw some, uh, draw it up here. So let's take a screenshot. I'm trying to use my pen more. I'm trying to make, I'm trying to, I'm trying to learn a few things right now. So, all right. So let's throw that onto the, uh, throw that here. Let me just put paste, paste that here. All right. Bitcoin charts. All right. Let's, let's get this, zoom this in. Right. So this is obviously the bubble chart, the rainbow chart, which I do look at. For me, what's really important is identifying which point of the cycle we are at, obviously, and how much is too much, right? That's really important for me because, uh, yeah, it really decides, it really helps me decide whether I should buy or sell in personal strategy, not financial advice. So obviously we can see that we are in this, is this a bubble phase right now? This is, this is where we are in a rainbow charts. You can definitely see the last two cycles, right? This is the 2017 cycle over here. And this is a 2014 cycle over here. And you definitely saw that it moved, you know, uh, very much on, on this rainbow chart, which is kind of why it worked and why it's working. So do I believe that we can push up here? I mean, if you guys saw me reading the news, there is just so much, um, so much, so much background work being done at this current point. You know, we see banks saying that they are more open to accepting crypto. We see evidence that millennials want to invest into crypto. We see Goldman Sachs potentially offering Bitcoin futures, right? Bitcoin derivatives trading, right? So we see that. So I, I definitely believe that we're going to move, um, up in the scale, but however, one thing I want to say quite, um, quite importantly is that there were a lot of hiccups along the way in 2017, right? So we had these, like almost these, these kind of big fall downs, right? Where it did take a while to, um, for, for the market to recover from a little bit of these dips along the way. This is actually quite different in 2017. Yes, we did have a little bit of a, uh, fall here, but this stage has been relatively stable. All right. So I feel like it could be very possible to have another dip possibly down here before moving up, right? I feel like that's, that's very, very possible at this current point where, um, a dip could be on the horizon. It seems like the number of videos and the amount of TikTok chatter, you know, these are all kind of developments that make the market very, very wonky. People definitely get scared by just the number, the number of rap videos. I feel like rap videos will probably be the, the biggest indicator because rapid videos take a lot of times to produce, right? So like there are big commitments, like smaller videos, sure. Whatever people can do, take some time. But like, remember the last time a rap video was releasing crypto. That was Ian Bellina's Moon Lambo video. And that was at the peak of the cycle. Like it was pretty much at the peak nearing the bottom shoulder of the cycle, right? So rap videos, uh, they're, they're, they're the negative. They're the big bear indicators, right? This, I'll put another bear up on my screen right here. That that's the other big, big bear indicator rap videos coming in talking about crypto. So it could be possible that we take a little bit of a dip here before moving up. So that's something that I'm mentally preparing myself for. And you, you definitely see for me, right? Why it's important to prepare for bull or prepare for bear rather is because psychologically you need to brace yourself, right? Surviving through 2017, these giant dips. There are times when during a dip, you're really like contemplating the existing, you're contemplating life, you know? Like it's one of the points where like, oh my God, I just watched like 20%, 30% of my net worth vanish in a day, right? Or in a few hours. And it's one of those situations that's extremely brutal. We survived through multiple situations. But for me, it's just like, I'm bracing myself for that at this current point. So I guess, I guess Rob, you're right. You turned me a little bit bearish. I can't believe it. I think a little bit, a little bit more bearish, a little bit more cautious. Am I bearish? Not really. I feel like, I definitely feel like we can go up here, but I'm bracing myself. Like I definitely feel like we can go up here to 150, 150 to 300K. But at the same time, I think, yeah, Rob, you are the voice of reason. Rob was on my channel last time. He said he's the voice of reason. I think there's a certain amount of reason in, you know, preparing for mentally bracing yourself for a potential fall. But then again, bracing yourself for a very strong bow after that. So that's my two cents. Yeah. Yeah. All right. Box fam says why. All right, let's go on. So that's kind of my take on the whole entire market. Let's take a look at the altcoin space and everything that is going on. You definitely guys know that we're still in the middle of the super long altcoin season where I think there's still some strength left, right? If you look at the last season for alts, right? So, you know, we're in the middle of this alt season. The last alt season lasted what? From the 9th. Okay. So the 9th of August to the 14th of September, right? So that was a month and four days. But if you look at how, you know, taking the crossing the line here, right? But if you look at us now, we've been in this, you know, altcoin season all the way since the 25th of March, right? So we're all the way in May right now. We're still not seeing the end of this cycle. I feel like this is a situation when, you know, when markets move up, everything lasts a little bit longer. So this altcoin cycle could last for me. I personally think this could last six, seven months, but there might be a dip in between. That could be possible. That could be possible. So if you look all the way back in 2017, that was kind of the case, right? Actually, it doesn't show the full graph. But yeah, 2017-ish, it was very violent. And I think that could be the violence. I definitely want to zoom back a little bit more. But anyways, this chart really does not show that. But yeah, 2017 had times when people felt like it was going to go to zero before the true run-up happened. So anyways, yep, that's my take. That's my take. All right. A few updates, I do want to point you guys to. All right. So we're going to cover two main discussions here in the altcoin segment. That I prepared for you guys. One is a huge trading tip, right? So this is one that you don't want to miss out on. I know that there are substantial changes right now happening in the decentralized finance trading space. So one happening with Uniswap, there's a migration to version three right now that's going ongoing. And I'll tell you a little bit about what this migration entails and how it will affect all your trades. All right. The second thing that I do want to cover, and it's still also a little bit related as well, there's also a very similar migration that happened between PancakeSwap on Binance Smart Chain and PancakeSwap V2. So on Binance Smart Chain, if you're trading on Binance Smart Chain, you're going to see the difference between PancakeSwap V1 and V2. And then on Ethereum, you're going to see a change between Uniswap V2 and V3. Right. So these are very, very big changes that are coming along. And it's going to affect how you trade and your rates for your trades. And I have optimization that I've been using for the last two weeks that really helps you get the best rate for your trade. So we'll talk about that. We'll do a little bit of the tutorial in this session. We'll also talk a little bit about what's happening on the altcoin side and what I've been looking at. So first and foremost, all right, first and foremost, something I've been talking a lot to Jeff about and, you know, guys, I'm excited for is with TrustSwap. They're creating something called the Mint. All right. So Mint video is coming out. They're showing they're almost on their way to completion of announcing the Mint feature. What that does is it allows anyone to create their own token. And this is both for projects and for people. But a lot of times projects right now, you know, a lot of projects are launching their own coin offerings. The problem that they have is, of course, when they create the token, they need to establish trust. Right. They need to tell people, OK, look, we have a liquidity lock and we have the founders locking in their token. Now, what TrustSwap is doing with Mint is there's a once click process, which is allowing people to do that automatically. And the more that we know about this and why I'm telling you guys about this is this is something that we should have. Because if you look at the platform right now as is and you can look at any coin, what you'll see is you can see when next coins are coming out, like when the next unlock for the founders are. All right. And then at the same time, when so they have a lockdown, like you click on anything, you know, when the locks are coming and when the lock liquidity is. So this provides a lot of safety and a lot of transparency for what's going on. So Trust is launching this Mint, which is going to do that with one click. It's going to be free, but free to use. But it does cost 0.5% of the coin supply. 1% of that, 0.1% of that goes to the TrustSwap team. And 0.4%, which is four times more than everything else, 0.4% of that goes to community as well. So that's going to be the big upside for TrustSwap coming soon. It's going to be both for the community and for people in the space. And why it's important is because it's going to give people a lot more trust in the space to know when the unlocks are coming, when the founders are coming, so they don't dump on your face. So that's coming up very soon. They already hinted that around four hours ago. This is a screenshot for everything that's happening. So five hours ago now, that's coming up very, very soon. So once that's out, I'll definitely tell you guys about that. We also have Pinknode. So Pinknode is kind of my main research for this week. So what they're doing is you guys all know that Polkadot narrative is coming and the Cosmos narrative is coming. And both of these two chains or both of these two concepts, I would say, these protocols allow you to build other protocols too. So that's kind of crazy, right? So anything that's launching Polkadot or launching their own, Polkadot allows people to launch their own chain, right? Which is kind of the most powerful aspect of Polkadot. So they say, okay, instead of scaling one chain, we'll let you build your own chain. How about that using something called Substrate? So that's great and all, but that also creates a situation where there's going to be a lot of chains, a lot and a lot of chains. And so what Pinknode does is it offers the tools necessary for developers to both link these chains up and make their chains more full. So that's kind of the interesting value here. It's kind of like, it's kind of a situation where having this new concept of multi-chains as part of an ecosystem, like the Polkadot ecosystem or the Cosmos ecosystem, it introduces more management, which is what Pinknode kind of does. So anyways, that's my latest research for this week. It's Pinknode is doing their IDO on PolkaStarter. So that's going to come up towards, so it's going to be on the 14th of May, which is in a week's time from now. So yeah, that's kind of where my research is at, at this current point of time. Now, talking about the big thing I was talking about to you guys earlier, which is with Uniswap 2.0 or 3.0. So what's happening? So Uniswap 3.0 has officially launched. So it's already a very different interface. So if you guys have been trading on Uniswap recently, you'll notice that right now the interface looks very different, right? You can definitely see there's a new button here. The whole screen is different and a new button says get a better price on V2. So what exactly is happening? So this is a very, very big transition. It's releasing a new version of Uniswap. It has a lot of new features, but the issue here is that to migrate to V3, it's a manual process, right? And I think there's going to be a lot of scammers along the way. Wait for the tutorial. But the gist of it right now is that the new version that's coming out has more features, right? Especially when it comes to setting a trading range. I think the biggest power of Uniswap 3.0 is that you can define the range where your liquidity is deployed. So this means that you can have tighter trades. And it's especially powerful for something like stablecoin trades, where, you know, if the range is around $1, right? Let's say from USDC to USDT, these are both stablecoins. These are both approximately supposed to be worth $1, right? The trading range is very narrow. So Uniswap usually deploys capital in a very big curve. But with V3, you can compress that curve, make it very narrow, have more liquidity there, which also is great for anyone that's involved, right? So it reduces the volatility. It makes it function a little bit more like curve. But at the same time, it also gives people more profits for trading because their capital is being used. So this is some very powerful features, and it can be used and deployed on the backend in a very powerful way. So even though the interface, you know, it's still the same buttons, backend, backside, there's a lot of upgrades. But that being said, now that there's two markets, right? You can see that you can click this button here, and you can see that you can get better rates for something. So let's say this is a very easy trade. Like, say, I'm just going to spend one Ether to buy Uni. So right now, you can see that the rate that's coming out being quoted on V3 is I can get 86 Uni for one ETH. But on V2, because there's a little bit more liquidity there, I should get almost one extra Uni for that trade. So this is something that will affect everyone. You guys will have to switch back and forth to look at where you can get the best rates right now for your trades. So this is going to impact everyone trading in crypto right now. So if you're buying or selling on Uniswap, you have to look for where you're going to get the better rate, either on V2 or V3. So this is kind of the awkward period, right? This isn't going to last forever. You know, when we migrated from V1 to V2, eventually most of that migration was complete. It takes a little bit of time, but they're in this awkward phase, right? During this, it's kind of like a molting season, right? This is where, you know, we change our coats. Like, you know, that's molting. The first being changed, but it takes a little bit of time, right? So this is why right now, if you're using Uniswap, you got to be careful. Make sure you check which rate is better. Obviously, 87 uni is better than 86.5 uni, right? So make sure you get the best trade. Now, there is a strategy to this, right? So the strategy around this, the better strategy, instead of checking it manually, is to use one inch, right? So one inch exchange gives you an even better rate. So look at this right now. So you guys probably see the best rate on Uniswap right now gives you 187 uni for the price of one ETH. But on one inch exchange, what happens is that you get an even better rate. You get an 87.8 rate. Why does that happen? Why does that happen? Because it routes it through different, there's different routing systems at which you can get this rate from, right? So it combines different liquidity and it aggregates coins together. So this is where one inch becomes very powerful because it can, a lot of times, it depends on the coin that you're playing around with. But a lot of times, it can use, right, multiple. So maybe you can go AVA. I know AVE. It uses multiple exchanges to do this. The most present one, I think, was Sake. So you guys probably know that they're talking about Sake endlessly in Genesis Block Ventures. But it chooses different routing, right? And sometimes it routes it through different protocols. So let's say, for example, this one, they'll route through SakeSwap and Uniswap to get the best trade. And you can see the best rate. So this is one of the strategies that I'm using right now to trade. And it really does help you. I'm not trying to push this too heavily, but I felt like this is the smart thing to do at this current point. And the same thing applies for Binance as well. If you're on a Binance chain mainnet, what happens is that because there is a split of liquidity between PancakeSwap 1.0 and PancakeSwap 2.0, what happens is that, so you can switch to Binance chain right here. Let me just give me one second. Binance Smart Chain. All right. So the strategy here is sometimes when you're trading, it depends on what you're trading. But sometimes if it's split between different cryptocurrencies, right, you definitely want different routes. Let's see. Let's see. Let's see if this example works. So, yeah. So this is going for PancakeSwap V2. But if there's liquidity in V1 and V2, then it can split the liquidity up and give you a much better rate. So, you know, for me, that really matters a lot because I always want to get the best rate for every trade. I mean, if you're losing like 4% or 5% of your trade every time like you're trading to slippage or whatnot, that's not very helpful. So I hope this helps. Yeah, that's an advanced strategy of this week that I'm deploying right now. So it works on both BSC Mainnet and on Ethereum, and it's relatively helpful. So the only drawback, I would say, and not the only, but the pretty big drawback, I would say here, is that you do have two options here. And this is quite important. This is quite important for Ethereum. I'll just switch back to the Ethereum one here over here. So on Ethereum, the fee is more if you use one-inch exchange. All right. So that's just flat out. Because the routing, especially if they're routing through multiple exchanges, right, it will be more fees. All right. So that's just a given at this current point. So let's say you want to buy some PIMON, right? You want to buy some PIMON. You can see that the fee here, the estimated fee is around $56. Because it's routing through two exchanges. It's going through two exchanges. It costs more gas to do so. So that's one thing to definitely watch out for, right? So you have to see, like, at what the amount you save, does it equal or is it better than the fee? So you definitely have to do a little bit of comparison. It's not fully automated. Sometimes just trading on Uniswap is better. Sometimes trading here is better. You have to compare the fee versus the extra amount of gains you get, the better rate, and see which one is better. Typically speaking, if you're trading larger quantities, it is better to, like, if you save, like, $25,000 a year. Like, this is just ridiculous, right? But if you save more money here, then obviously the other one goes. All right. There we go. That's pretty much it. That's pretty much it. So, yeah, that's... Miguel Azar says, also the cost of fee to change to V3 is massive. That is true. Yeah, it is. So, yeah, it does take a little bit of optimization to go between these two aspects here. All right. So let's do some Q&A. So I have some talk about Hudson. Says, what the hell is TrueBit? I don't think I was in TrueBit. True. I don't know what TrueBit is. There was TrueFi. TrueBit. I don't think I was ever talked about that. So, unfortunately, it did seem to be... I don't know. Don't know. Don't think I... Don't... Yeah. Not there. I think TrueFi was the one we talked about. It was the ape of the week from the ape teams there. We have some questions. Tommy M says, one inch mooning soon. Yeah, one inch is like... I actually think like if you want to talk about one inch, it's like right now, it is the most useful time to use one inch. Just because of that liquidity difference, I found it pretty useful there. All right. That's pretty much it. Let's see. Ronnie raises, I heard a radio advertisement for one inch the other day. That's crazy. That's crazy. Where do you live? Like, that's insane. I would love to hear a radio ad for one inch. Okay. So, I think that's pretty much it for today's video. We pretty much covered everything here. I hope you guys like the mini tip. I'll probably cover this in more detail right now. Because the current situation with one inch... Not one inch. Uniswap itself. It's quite messy going to V3. So, I'll probably do a video about V3 coming up and the strategies around that. So, if you guys are interested. And if you guys have any questions, right? So, if you have questions of what I said just now. Some... If you don't understand anything, leave them in the comment section below. That will really help with the video too. And, you know, that will answer your questions too. So, why not, right? Two birds with one stone. So, that's pretty much it for today's video. I also want to do one last shout out to HowDoI. They have got Tyson Fury coming on. So, if you guys want to find out a little bit more about HowDoI. We had an episode with Crypto and Friends. Where Matt does talk a little bit about HowDoI. It's an NFT thing. They have... They basically have Tyson Fury coming in. It's going to be quite fun. This is going to be the next... Like, this is the NFT thing, right? This is the craze. I think a lot of people are going to... Like, I think there's so many ways that people are going to get into crypto these days. So, whilst, you know, right now it might seem like I'm a little bit bearish. On the overall markets. I feel like this is the next wave that's going to bring, you know, the big push-up. So, anyways. That's pretty much it. So, have a great weekend, guys. Hope you guys aren't too exhausted. Rob says clap, clap, clap. Thank you, guys, Rob. Thank you, Rob, for making me bearish, actually. It's horrific. It's horrific. It's a very unpleasant experience. So, thank you for that. Thank you. I really appreciate that. By appreciate it, I mean I don't appreciate it. But, anyways, guys. Thank you guys so much for watching it today, today's episode. We'll see you guys later on the next one. And hope you guys stay tuned for both BoxMining live streams and Crypto and Friends. We're going to have a lot coming up. So, yeah. Have fun. Have a great weekend, guys. I'll just take the time now to tell you a little bit about everything that's happening in the BoxMining ecosystem. First and foremost, if you guys like listening to all that's happening in crypto on the go, then I would highly recommend you checking out the BoxMining Bitcoin Out of the Box podcast. And the reason why it's called Bitcoin Out of the Box is because we have long interview segments very much exploring the detail of the newest and latest of what's going on in this whole cryptocurrency space. 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And then, of course, check out the newsletter. If you want those updates and summaries and trends, newsletter is the place for you. And with that, guys, thank you so much for watching this video. I really hope you have a good one. See you in the next video. Bye.