(Monday) Crypto and Bitcoin Livestream: Still bullish? Are we at the top?

quite a fun time isn't it so yes we're gonna do a recap on what is happening in the cryptocurrency space today is the 19th of april the weekend we have a gigantic dip it was one of those days where yeah crypto fell by quite a bit and it did hurt it did hurt i mean uh so what was happening was on sunday i was actually out but during lunch i was checking on cryptocurrency prices and i saw everything was like minus 10 right it was just one of those flash crashes that this happens almost instantaneously and then everything is down and it's one of those times when like i don't want to check up my portfolio but i did i opened up zerion wallet which is what i used to spectate my altcoins and you know how it loads and then like it shows your previous balance that is saved and then it just loads the new balance i'm just like sitting there waiting waiting all right it's loading my new balance bam and you just see the numbers drop right oh man i just crashed like eight cars right now uh it's one of those days it's one of those it's not it's not pleasant it's relatively unpleasant but obviously we know that today coming to today we have a very very sharp rise in the prices of bitcoin we're gonna today what in what we're gonna do in this episode is we're gonna do a post crash analysis of like why this happened uh the real reasons and then the fake reasons about why it happened and uh it's gonna be a lot of fun it's gonna be a lot of fun to recap on everything i think the key here the take home for everyone here is that during crashes like this everyone is trying to look for a reason everyone is trying to find that exact reason of why it happened and unfortunately what happens right is that there's a few fake things circulating so yesterday oh not really fake but it's like it's partially true but also taken to the most extreme variant of this so the two things that really did happen that struck out yesterday was one uh was that bitcoin mining uh hashrate dropped due to a chinese coal mine explosion and this cascaded um into people calling you know bitcoin is a china coin it's a ccp coin or i don't know like please just just just stop talking all right it's one of those things where people accused of being centralized miners have everything it's gonna be shut down by ccp this happens all the time the second thing that i saw was quite interesting i'll put it up here um it was being circulated around twitter a lot i'm not gonna single out qcp out here but anyways um qcp capital broadcasted u.s treasury to charge several financial institutions for mondering laundering using cryptos securities lawyers familiar with the yellen task force plan said well okay right we know that a lot of exchanges are in trouble so and i completely do not question that there will be some exchanges crypto exchanges that are charged with aml compliance issues that's bound to happen at some point right because we're still in a very new industry and getting that compliance between traditional financial institutions and crypto financial institutions is hard but yet again this is something that can happen this this something like this could be released at any time it's not really news right but what happens is that this kind of material tends to surface during crashes so people can find can latch on to a reason why crypto crashed but anyways um yeah that's that's that's pretty much what i saw yesterday and i'm like this doesn't feel like it doesn't feel like an organic real bad news phase it just feels like what kind of really happened here which was a massive cascade of liquidations so that's kind of what we saw with perpetuals futures i mean just throw that out there so anyways let's let's do the proper analysis in this channel we'll do in today's episode we're going to catch up also on the news and we're going to catch up on some comedy uh just like the the number of people freaking out about crypto is insane now we'll catch up and we'll discuss about this and we'll we'll relay some stuff from 2017 as well because 2017 was a very good experience for me for that ride to understand the cycles and to understand how fear really overtakes the market at certain points when people especially when people are greedy anyways uh let's do that today uh let's get ready uh let's show the intro and by the way guys if you guys are here smash up those likes it really does help the channel grow i think recently we've been doing a super good job at that and um be really appreciative we've been growing spreading the good news spreading or or good analysis as well and that's been super helpful so guys if you can hit those likes if this i really appreciate it we got like what 300 people up here and growing so smash up those likes let's get the stream started and let's go and by the way make sure you subscribe as well this week definitely some good streams coming up so yeah make sure you're there so let's get started all right all right let's just take a very quick look at the market so yes we are below 60 000 for the price of this is a bitcoins a bitcoins so yeah we're dropping 3.2 it's not too bad seven day we dropped five percent so we did kind of take um the the we did take a hit yesterday a few days and you know dropping below 60 000 is quite a big psychological hit too so we were at 64 at its peak on wednesday this is right before in a coinbase listing and then as the kind of coinbase disappointed a lot of people who are very hype much hyping it then of course we got the major hit on sunday here it just took bam bam two hits in a row that took bitcoin below 60 000 but the good news of course is that once we reached the bottom it bottomed out at around 33 53 000 and we're climbing up quite quickly same similar story with ethereum ethereum dropped to almost below 2000 depending on which exchange you were at so at its bottom it was at 2058 but on some exchanges say the one that larry was looking at larry mark cermak here um he was looking it went down to sub 900 depending on which futures platform he was looking at perp protocol so yeah uh it could get it could have gotten pretty rough especially if you're trading on leverage the the take on that was that the leverage exchanges got hit very hard binance exchange went down for a few seconds i saw this one there was a person complaining about this so mr wales was talking to someone who got liquidated on binance today after using low leverage he said the exchanges disabled trades right before it dump so he couldn't log in and close his positions he got liquidated and lost a whopping seven hundred and thirty thousand dollars ouch so this was this happened very close to the to the dump as it happens and we we've seen that before right this is not the first time it happens on bitmex it happens on binance it happens on ftx i'm not trying to play favorites here but what happens is that during these big movements there's a combination of a lot of people logging back onto exchanges trying to get rid or buy the dip and then what happens is that these exchanges also get hit by hackers too so people who very possibly could be manipulating the market to try to drive prices lower they could be also be attacking these exchanges using bots right so they'll be swarming these exchanges with requests and then binance just can't handle and log in and this is where leverage positions are quite dangerous and this is exactly what we saw so during the time of the big crash and you know why these crashes happen to be so big like especially you know these giant red candles down it's because of liquidations so what happens is that we saw on friday especially if you guys check out the friday stream we're talking about funding rates and how there were just too many long positions right that was what's happening last week and that this led to a situation where if there's too many long positions too many people believing that the market's going to go up what happens is that if the market does go down then uh-oh right then it's like uh not great so let me just take a look for you guys on the stream on mond on friday and i'll show you uh what we're talking about um let's see friday stream wow today is absolutely insane it is friday over here in hong kong just now here eating effect area and because let's take a look at this funding rate right so this is the funding rate on a friday you can see everything was super positive this means a lot of people were stacking up long positions and then if you look at it today on the other hand you can definitely see there's a huge difference in fact there's a sign reversal all right look at that look at that so binance um is at 0.01 for funding rate and then on uh on friday this is uh during the video all right we saw it's at one percent so it's ten times higher right this means that there was a substantial on friday was a substantial number of traders longing bitcoin right and you see even more crazily still like bmb was like 0.3 percent right and then ada was like almost 0.3 percent of hobby as well but if you look at it today right you see like negative funding rates like a full sun sign change this is where traders are bearish there are more shorts than longs so people are thinking it might even go down at this current point versus up so you can just see there's a complete wipe out there right this is the evidence of that wipe out people the traders were holding long positions because of that sudden drop they could no longer hold it a lot of them just got liquidated flat out it's and and the problem with these liquidations is that there's no such like people think oh if you're in the traditional mindset right you think oh a margin call the bank calls you or the exchange calls you yo your position is going to be liquidated if you don't put in more money the market's moving against you right now uh put in more money or else we'll close your account close your um position right but no this is crypto it happens in a split second that the the liquidation engines on 24h right it's like liquidating non-stop it's like uh it's like a factory down there so yeah so so that was what really drove down the negative side so it's a combination of factors first of all it was the market moving down because coinbase didn't rally very strongly on market listing in fact coinbase fell below expectations right if you guys remember we're constantly looking at coinbase as being the super positive news but unfortunately the super positive news also dumped quite a substantial amount as well so people traders were expecting coinbase to list as 623 dollars right this is right before the listing on nasdaq this was being traded on ftx so this was a predictor of what the traders felt like coined the coinbase listing was going to be people expected a coinbase listing to be super positive to crypto and for it to go super well but unfortunately like the moment the market listed like it was just huge dumps on coinbase right now at 329. i still i still say that this is a higher than expectations it's higher than 250 but a lot of traders were disappointed people who expected 600 they were mega disappointed right this led to bitcoin cells all right so this is where the cascading effect comes in right all right here here we go so you can see that there was a slide right towards towards the end of friday towards saturday there were slide the market was sliding down dropping dropping dropping and at a moment it hit around 59 000 this is where the support is meant to be right we drew this line the previous resistance becomes the support this is where the support is meant to be but the support didn't come so what happened here was a lot of traders who either had a stop loss at 59 000 or they were over leveraged and they would be they would be liquidated at 59 000 this is when the cascade happens right boom the moment drop below here like it was a one giant straight arrow down right huge huge straight arrow boom bam this is where all those liquid leverage longs they get liquidated they get cleaned out people who felt bitcoin was going to 16 7k 77k 50k 80k they felt they were it was going much higher than that but because they're on leveraged positions they get completely cleaned out here this is one of the risks of leveraged trading during times like this sometimes the market does move the other way right and this is why i don't take home those leveraged positions although of course you did see i was quite euphoric on friday you definitely saw that and i um i closed my doge long positions because yesterday last week i was rejoicing on that i took uh leverage tokens on doge uh bull but at the and i also use that to buy some other stuff like litecoin ball etc those didn't work out so well but the good thing about bull tokens is that they don't get liquidated they can go to i guess they can go to zero but your account doesn't get liquidated i think that's the difference but anyways so people's accounts got liquidated this got this cascade cause a cascading dip and then this is at the same time like all this news about oh my god regulations are coming yet again um this is like and then you have the miner one oh miners it's gonna uh was it 30 um some there was a mine blow up wow there's a so a lot of fake mine box mining here but yeah so we saw we saw what was this um was a retweet that's not a really good thing to search um is it huh my twitter is a mess no i didn't i didn't post it okay anyways i saw i saw i saw it earlier but anyways there was this like discussion about bitcoin being mine oh this one's scary it's a scary discussion that china holds 45 percent of btc hash rate oh my god it's ccp it's running everything oh my god like look look look look look look look look this always happens because people don't understand mining and because people don't understand mining miners actually make the situation worse because they actually want more privacy so the more fake news they spread the better so during interviews they will perpetuate these fake news first and foremost all right let's get this very clear is that miners are very distributed around the world yes there's a lot of miners from china because they actually believe in bitcoin and they'll never go out and tell you the reasons why they mine because obviously you know just because of the whole news area side like the transparency level is super super low but miners will always be business people they'll always mine where the electricity is cheapest and they will not stop mining right we've seen like this multiple like we've seen like eight phases where oh my god china's gonna shut down mining all again and then three years later you're like oh why is china still mining like people people people just understand this always circulates on the news whenever mining flood circulates you know when it's a time to buy it's become to that point where if i feel like there's certain groups of people just perpetuating these fake you know china owns everything myths and then um anyone who's like they don't understand they'll look at evidence all right some weird chart a few charts about bitcoin pools we know that pools don't represent the entire spectrum pools are just a collection of miners um anyways people look at this and then they get super confused they get super lost they think that oh bitcoin centralized it's gonna be shut down by chinese government or some weird flood like that and they believe it and then they start selling and this is why you know during these times people freak out right but anyways um yeah so when i saw that when i saw this i was like you know what and when i saw these two things i was like you know what it like this this this dump needed to happen but those are not the reasons why right this is like this is like the after effect people piling in the negative news so they can buy cheaper like there's intentional people who do this right people who intentionally try to cause this cause more fear when people are already afraid when they're already looking for reasons that's when the fear hits people start believing all this stuff like and and yeah so so anyways uh crypto gardener says can you explain why lower hash rate affects the price all right so let's let's go for a little bit so cash rates did drop okay let's see bitcoin hash rates so it's not a direct result um a lot of people misunderstand hash rate so let's take a look at this question and i guess there were there was a few people there were a few people who were quite concerned about this so let me let me let me explain to you a little bit about mining hash rates and everything so let me just go search uh dovi's comment so dovi was the one who first reported this all right so all right um um all right let's see oh to do give me a second i'm just trying to find uh i'm just trying to find uh the first quote about this all right um so um there was a shinjong block out right so so okay so shinjong is facing a major blackout due to a coma and explosion bitcoin hash rate drops almost 30 percent instantly lol so this was kind of what started this this came on april the 16th and then this got really outblown out to become like oh uh bitcoin is a china coin and all that stuff right so first and foremost yes bitcoin hash rate did drop so there was a drop from around 72 million hashes to 153 million hashes rate right and what we're going to see all right and we're going to see this very closely is that hash rate is going to drastically increase after this so hash rate is a combination of how many miners are turned on all right so it's an aggregate the more minor the more people are mining the more miners machines that are switched on all right the more azics that they're switched on the more hash rate we get if there's a blackout what usually happens is that because people didn't expect expect the blackout it was a coal mine explosion all right so the machines will be turned off because well their power is cut in which case because these machines are extremely profitable very likely what they're going to do miners are going to do are either going to move these machines or trying to restore power back as quickly as possible all right this is just logical now mining hash rate has nothing to do with um the the prices the prices really have to do with people's perception of mining hash rate so if your hash rate drops 20 30 percent what happens is that the bitcoin network typically speaking will readjust its difficulty so during the next difficulty epic if the hash rate is really lower bitcoin has a mechanism to correct that so this is why i say in terms of the long term in terms of the actual fundamentals here hash rate does not matter at all a sudden spike increase in hash rate or sudden drop in your hash rate does not affect the bitcoin network over the period so during the next difficulty epic if bitcoin notices the network has a protocol it's self-correcting it notices that either the hash rate is lower or it's higher it will readjust the difficulty parameter such that the hat the number of blocks being produced is always 10 um one every 10 minutes or on average one every 10 minutes what happens is that during a sudden drop an unexpected drop what happens is that the block rate time or block time average block time will increase that is because the difficulty may be too high for the hash rate all right so the chances of finding a block will be a little bit slower but yet again like i said this difficulty we readjust does does does not affect the network operation at all but it does affect people's perception of it so here because of that blackout people are now given a bit more information that oh there's a lot of china miners in china and in fact if you look at the drop um it's not even that big it's um it's a little bit more than 10 percent and people are like freaking out it's a 50 30 percent drop or whatnot look the perception is always worse as a lot of times when people start circulating this like mining fud news people don't understand what this mining thing is they'll make up stories they don't really understand mining they'll just like make up these stories like oh bitcoin network's gonna end or it's like i don't know it's based on the ccp or some stupid stuff i i don't i i like i cannot tell you guys how frustrated i am at the lack of understanding of what happens here so anyways regardless um that's why that's why there seems to be a correlation but let me tell you guys that there is absolutely no correlation with how the network operates and mining hash rate mining the network already self-corrects for changes in hash rate so hash rate has always gone up yes uh traditionally hash rate has gone up if you look at the hash rate graph bitcoin has gone up hash rate has gone up um that's true and a lot of times hash rate is always a response to the price of bitcoin too so what happens is that once the network once the bitcoin prices go up miners turn on more and more asics especially the older ones it's like you're turning on your old playstation 3 after a long time everyone likes to play playstation games now so well if you have a playstation 3 lying around and right now it's playstation 5 right that's the latest model you're gonna say oh maybe some people want to play playstation 3 games maybe i should like you know turn this on and you know sell some games or something like that like this is exactly that situation so miners are more reactionary to the price and then they dictate the price if you if you know what i mean so that's the truth behind mining um yeah so i've seen people with like old miners from 2017 they switch their machines on like i know there's a litecoin miner there's a dogecoin miner all the way back in the day um and yeah sometimes they switch it on if though prices are really really high right now then it becomes more profitable to mine so in that case more people will start mining the hash rate goes up so yet again reactionary doorstop miners became profitable this month so a lot of people don't understand it there's a lot of fud there's a lot of miscommunication here there's a lot of people like you know you know like saying you know oh people are dumping miners by the pound you know selling miners by the power for scrap metal or something like that and that also happens too because if miners get obsolete if the technology improves drastically that also happens so yet again just be aware there's a lot of nuances to this here uh james b says what's going on with neil so yet again the altcoins are going a little bit crazy right now especially with the dogecoin with dogecoin leading this rally right now we have a lot of resurrection of older coins so you see bitcoin cash moving up vechain is also moving up quite aggressively today as well chain link uniswap is also up today is just like a crazy day neo is fantastic look at that neo is 50 up 50 so this is in combination of two factors if you look at the streams over last week people are kind of predicting what kind of um alt would move up and a lot of people are talking about these alts that got a lot of attention back in 2017 so i wouldn't be surprised if doge or nano neil ontology maybe these coins will kind of re-rise re-resurrect from the grave right we have iota i think people haven't talked about iota for a while so it's a situation where the market moves in response to what they've seen what the other trends are and because doge really set the precedence of this coin that hasn't really been developed a lot it's mostly based on memes there's a substantial number of issues with ownership of um big wallet ownership like whale ownership but people don't really care right people um people don't care about these factors that make it risky people just say oh look it's a meme all right this this doge is proof that mainstream doesn't care about one wallet holding 23 percent of the supply no develop in a lot no development in the last two years doesn't matter wolf who cares wolf like go doge right so that's kind of the story that we're we're in right now where we're in a phase where people don't care as much about the fundamentals but people care a lot more about the marketing the narrative the story and that's the kind of case so yet again yeah neo resurrection with neo there's another part of the story which is that there's a new version of neo coming up so they're ramping up the marketing play which is yet again it's it's it's why it's performing a little bit better than everything else out here than um a peer resurrection pump it's uh uh it's playing a little bit better than everything there so yeah those are my thoughts on everything happening there uh let's see the altcoin index oh i saw also i saved something here for you guys um this chart layout is modified all right so this is a chart all the way back from 2017 all right so this is 2017 this is in september um bitcoin shop shut up to 4 800 it was you know spectacular and uh then it had a sudden drastic dump so this is almost like a mirror reflection of what's happening right now right so we're kind of almost repeating that situation where we saw you know so on here on the seventh of all right so the 9th of september 2017 you saw the market weakening out and then a very sudden drop and this drop like if you think about it right if you think about from four four thousand three hundred to three thousand two hundred sure it's a one thousand dollar drop but if you think about it in terms of percentages right if you think of this is like 43k 43k dropping down to 32k you know that that would be a more relevant example right because prices are up 10 times right now but yeah so the market took a major dump right if if today crypto prices drop from like 62k to say 52 or 42 you know same thing right so anyway so this is exactly what happened during um during the times of september um and this happened quite a lot if you actually zoom out a little bit you can see that there were you know these major dumps that happened in july as well there's another major dump to happen in june and this is very kind of um very true um it's just a set pattern with crypto especially because of the number of leveraged positions in crypto and then we had the giant wave up right then we had the giant wave up and then the crash down and the crash that took the mark entire market with it right if you actually look at it like this you can kind of see what happened so just like boom boom boom and giant you know the peak and then it crashed down so obviously timing this is very hard but what i do have to say is that these kind of crashes happen a lot and the last week last month or so has not been very turbulent in crypto number go up almost every single day so i kind of feel like in this part of the wave um a few things right first of all the the crash um the crash on sunday is relatively small and the support is quite strong so yes we did crash below um 59k but people bought that up almost immediately i think there was almost this expectation that on monday once the market opens up um we'll have either more of a dump uh but it's very quite clear right now that the trend reversal is already set in place and that um there's a lot of people buying the dip so i feel like this time the market is returning stronger this is why i'm not too concerned about prices at this current point i feel like um i personally not financial advice of course but um i personally think that we we're still we're still in that formal phase um i've showed you guys a chart the rainbow chart right now and yeah we're still we're still in the formal intent for suffice phase i feel like we're still in that phase and for all clean season i still think we're we're just getting there it's at the peak of all clean season but i think this year with the way things are going we're gonna break the charts yet again i think we're gonna go break the charts like in 2017 i feel like there's just so much attention onto crypto right now that uh this type of like fever is almost inevitable at this current point so anyways i'm not too concerned on both these fronts um at this current moment anyways i think that's pretty much for me rambling about about what's happening on crypto uh big dumps on doge you need a poop bag but it's kind of funny i mean doge is recovering quite well too i wouldn't underestimate doge so i'll tell you a little bit about my position so um i've already i've closed out my position on doge on friday um i unfortunately did not re-enter there was a situation where i probably should have re-entered if i'm like a avid trader but this week i was not trading very aggressively uh let me just show you doge so doge so my position that i took on doge was actually with doge bowl i also that was the big position that um did super well for me last week great so um my entry position was around three thousand four thousand for doge bowl so this is a three x leverage token for doge and then it just took off right um i did sell so i sold on the way up so i did sell some at around eighty thousand so just here and then i sold um i sold almost everything at around eight 180 000 so that was a pretty big profit for me um i think yeah it was around 200k maybe a little bit more when i cashed out everything at the end and then um i didn't manage to buy so when i when i when doge crashed down i didn't manage to buy so if i bought here obviously hindsight speaking 2020 hindsight oh that would be a great trade but it was a situation where i felt like i'm gonna wait maybe a few days to see how this calms down a little bit to see what happens but yeah right now both doge is rallying yet again it's kind of crazy um it's a total insanity so anyway so that's kind of the current take on on that um i'm going i did enter re-enter a few bull positions like a few more bull tokens after um selling doge but those did moderately well i think like the because it got caught up in the crash that happened on sunday the positions weren't liquidated but you know they didn't perform super well it's kind of him uh so ronnie races literally 15 minutes ago michael i don't do a trade on leverage good for you man so um there's a correction for that so this last week i did try the bull tokens i'm not trading on account leverage um it doesn't make any sense for me but i did um have exposure for doge um for leverage tokens the reasoning behind leverage tokens is that these coins like i it's leverage tokens for me are for coins i don't really want to huddle long term for so something like doge i will be okay with entering a leverage position um a chain chain link a little bit maybe a lot less bitcoin sv bitcoin cash for sure like if i'm entering i'm going to enter bitcoin um enter in a leverage position tron maybe so these are the coins uh the reasoning here is here why right if you want to have tron exposure and you buy tron right there's a risk that else dropped 90 95 right and that happened that happened with icon all the way back and i think that happened with tron as well all the way back in 2017 which is when the bubble burst you could lose almost everything right if you lose 95 if it goes down 95 that's like losing your entire position so in that case if you're if you're if you're willing to lose your entire position anyways then why not get the bold token because um for both token if it goes down by 33 you lose everything right but at the same time if it goes up you have like 3x upside too right so like i was thinking like if if you're if you're gonna gamble anyways why not yolo i guess that's my philosophy but anyways uh i might change that so anyways that's my current philosophy that's why i did that for doge uh it worked out but i don't think it will always work out here so anyways it's still an experiment for me i'm not the i'm not of heavy leverage trader um by all means it's one of those things that i have a lot of research into but at the same time i almost almost never dabble into leverage unless i have a very good position of a good trade that i'm that i want to enter um if that makes sense that makes sense but i will never take a account-based leverage so that's one of the risky parts of ftx which is that um when you take on a leverage position you can the power of ftx means you can leverage your entire account right so i've seen a few people um and willie woo does this properly so what he does is say he deposits one bitcoin into his ftx account and then he uses that one bitcoin as account leverage on a 0.3 leverage or 0.5 leverage to buy more bitcoin so this kind of increases his bitcoin exposure but at the same time if bitcoin drops in value then he can he can risk up losing his one original bitcoin he deposited there right that's kind of how uh how risky leverage trading is so some people what they do is they choose like say they've deposit one bitcoin on ftx and they do a 20x leverage which means that if bitcoin goes down by five percent like a leverage long on bitcoin if bitcoin goes down by five percent they'll lose the entire bitcoin or if it goes up by five percent they'll get another bitcoin right so you know risk reward so um a lot of more experienced traders they'll never take a 20x leverage they'll maybe take a 1x leverage or 0.5x leverage that's sometimes how it goes um so they're very very protected and they deposit in bitcoin and then they leverage up another long position bitcoin just to increase their holdings if that if you can um if you understand what that means um sorry not the one it's if if you understand their strategy so i don't think leverage is necessarily bad i just think that uh it needs to be controlled and there's very different ways of doing it um okay all right so i think that's around it i think there are a few other topics i want to talk about so let's see uh oh this was quite funny all right this is quite funny my anti-coin neighbor gleefully asked me how i was going to do now that i lost my life savings to last night's crash so i thought this story was being so i got on okay with my neighbor and we kept talking about investing in retirement at times he's a decade older he's a good neighbor but definitely has a chip on his shoulder that i can afford to live next to him at my age with where home prices have gotten here i don't know who he's uh i don't know who he's getting his info from but he's initially rabidly anti-crypto thinks it's all some ponzi scheme we politely usually argued about crypto versus stocks he tells me at the time that i'm risking my house and future kids future with coins mowing the lawn this morning i bumped into him and before the mowers were even off he's gleefully asked me how much financial trouble i'm in now that crypto has crashed after last night i normally think comparing wallets is crass but just the attitude on him i couldn't help it i pulled out my phone opened my crypto portfolio tracking up i started with showing him the last 24 hour view he laughed then i showed him the view for the last month and then last year he was not happy insisted that i should just show you that you could lose everything at any moment and oh well at this rate i will be living him next to him for much longer lol so yeah op is gonna buy a new house so very soon but you know it's one of those situations right where crypto did take off and i think there's a lot of people salty about this i still meet people who are really salty about this all the time where like they're stuck in the mindset it's a bubble right especially if you believed in like the the negative news painted by crypto in 2012 and i was there i was there in 2012 right when you know everyone said this is a bubble this is a crash like no one on media would say oh you know bitcoin there's some value here like mainstream media just bashed it like crazy and i think most people right um believe that like most boomers think that i don't want to be ageist right here but yeah um but it worked out right and that's a that's uh something that a lot of people cannot compute that they are wrong but anyways um i can see this guy you know shaking his hands and be like i don't know i don't know i think i i found that funny anyways um all right this is the other thing that was kind of funny i just want to bring back some old memory um there was a hoax that um vitalik died in 2017. i'll this i want to bring this up because this is the type of fear and flood news we can expect uh in the coming months so we already seen you know like today i pointed out like this whole mining thing oh my god mining is like um bitcoin centralized by the chinese ccp or something and then we saw the uh uh the twitter the the message about oh my god uh yellow and task force is gonna you know um kick some exchanges in the butt um this is gonna be this is gonna be more of that and it's gonna be more extreme so um in 2017 we had this hoax that uh vitalik died as they would talk died in a fatal car crash um it circulated for like six hours before vitalik himself had to come up and say look guys i'm still alive right here's like today's block number and block hash like i'm i'm still here here's a photo of me anyways like this stuff gets really out of control like they probably time for when when vitalik sleeps so then when vitalik sleeps they have like six hours to spread all this fear that vitalik is dead before he comes and disproves them but during that six hours the markets can completely tank right so anyways uh i just found that funny just a good reminder i also have this balancer here so this balancer launched last week uh why i kind of brought this up is because you guys saw the exchanges were going down there was ddos attacks on exchanges trying to force the market out this is a product that directly protects exchanges from that so this is the anti ddos it's a it's the it's a response it's a network that protects other networks from going down and this is something that will be quite vital in the future i see that this is something that we have a problem with this in crypto where all of a sudden you know prices crash people can't log on to the exchanges because of the non-service attacks this is the shield for it so right now i i did tell you guys that this is a cyber security feature there's something that i did invest in and the reason why i invested in it is because it's so critical for future internet infrastructure so if you guys want to find out more it's on it's ddos um the good thing is it didn't really drastically pump the prices are still reasonable and i feel like it's one of those positions where fully diluted it's like two million dollars so yet again i felt like this is a good time to talk about like but once you see that these ddos things happen on these exchanges then you're like okay people start to understand why they need this more so anyways that's my two cents on everything here uh and i think that's pretty much it for today's episode let's do um five minutes of q a and see how uh see how it goes all right uh mr burns says i'm hey i am 57 i am crypto maxi absolutely absolutely that's why i don't want to be crypto ages i don't want to separate the populations by age like there's different people uh and i'm completely super happy that this um that crypto has you know um i think like now we can definitely see more and more people getting into it i know bernard mccarius he's like super into it as well um and yeah it's it's um it's great i think the difference is really not about age but about how how you like if people felt bitcoin was a bubble it's about how people deal with being wrong do they really kind of wake up or do they have this cognitive dissonance where they only see the negative and their mind cannot process the positive right i think that's that's kind of the the situation with that neighbor right of this he he only sees the negative so he always thinks that this is a bubble because that's the only time he can know that he's right um and every other time that it's going up like he's just like zoning out like mine cannot compress so anyways um that's it um nev's junk says any yield farms to recommend so yeah um yield farming is going down a little bit so the rates are not as good um i'm still stuck in my uh quite a few ones there's a few aggressive ones that's on box nation so what i'll do on this friday stay tuned for this friday is we're going to open up another telegram channels for us to share all these degenerate mining um opportunities but right now like i calculated this weekend a little bit upsetting is that a lot of the yields that were say 120 apy they've gone down to around around 78 that's the number i calculated for wing at the very least at least for my current positions is around 70 apy on stable coins um it's not bad but you know i think we're i'm i'm like a little bit spoiled by the 120 130 exciting times um for your farming but there's still a lot it's just you know um yeah the returns are not as high as the few weeks ago so you know that's too bad but you know that's life anyways um time dj says is it too late to get into vet so that's been kind of crazy um you know that i've been holding for such a long time and we're we're in amidst a very strong vet rally right now so it did it's it is going hockey stick up right now um if you zoom out for one year um this is where you have to be extremely careful like obviously good times to enter are here for me personally uh i entered like here like before this this is before i changed from i entered at ven times right so this is um this is pre vet um so my position entry was around if you think about it 0.02 so right now it's 0.26 right so it's 10x plus from my entry positions um after an entire bull cycle so i would say at this current point it's a little bit crazy and uh like that's realistically speaking right it's a mrs pump so you have to be extremely cautious um i'm holding it obviously i'm cheering for it i i want to say the best things about it but you know with this market the way it goes if it goes parabolic you have to be more careful than not that being said i'm still holding on to it um i just don't see any point in selling it at this current point like in terms of market understanding most people still don't understand what that is so i don't know that's my two cents uh review king is everything is pumping seriously today today is one of those days yep like we're on here right now um past 24 hours everything is going up right we're at the main pump time even solana quantum the solana narratives coming in anyways yeah it's time to it's time to celebrate a bit so if you guys held if you guys did good this weekend tell me tell me tell me um i definitely think everything's gonna i think we're still very early that's the crazy part i can still think like at least for this entire market uh i'm super optimistic still like i feel like i feel like the public just got a taste of this and uh a few of my friends that are in uh finance they're starting to contact me about crypto so that's usually a good sign but it's a sign that we're closing up on the top once every person asks me about crypto like every one of my high school friends or whatnot that's when i have to be very careful but we haven't really reached that stage yet it's only the people who have been in you know trading stocks or in games game stop gme for a while that they they're contacting me about this right but um i think i think we're still maybe um a little bit away and i just want to say the reason why i'm so into this right now is because if you remember towards the towards the end of the bull cycle um in 2017 it everything went up crazy right like we're starting to see a little bit of it like you know everything going up 50 per day but we saw this for like weeks on end in december of 2017 and that's the moment i'm waiting for right you're waiting for the explosive growth and um that's where that's where all the most like the major profits can be made obviously it's the most risky but that's where you have to really play it you know a combination of safe and aggressive i guess that's where it is so anyways uh that's pretty much it for today uh we got a compliment from joseph sayler says michael is probably smarter than any financial advisors contacting him it's kind of crazy because like you kind of feel like at first i thought um the markets will all be based on fundamentals but you kind of realize it's not right it's based on socials and uh this year looking at social signals is it's very very helpful so anyways that's my current take on it i feel like we have not peaked social signals yet we're starting to get there so obviously if people who are afraid like people who've been in here for a long time taking 10 20 profits i think it's absolutely cool there's nothing wrong with that but i'm personally waiting for the big wave the the massive one so anyways guys thank you guys so much for coming in today there's going to be a lot more discussion about all coins coming up on i'm going probably going to do a wednesday episode i think that makes the most sense for me just to update you guys on what's happening on the whole all coin um front everything is exploding this week so i think today and yesterday was really the major shopping day and the market reflects that right today is uh you gotta definitely see a lot of shopping going on with that those sprinkles of green everywhere so anyways we're gonna do a few surprise live streams coming up the main live stream scheduled is on friday on friday morning and we have a lot more videos releasing this week as well so stay tuned guys make sure you guys smash up those likes today uh we have let's see we have 500 people watching right now so let's guys guys let's get to at least 200 likes right now let's do that let's do that let's do that for me let's do that for me so um um puya chomelli uh says i think right now it's more big caps than anything else maybe it's time around this time around most money goes to proven projects no all right so i started to say that but no um people take profits of big caps and go plow them straight into the smaller ones so um the biggest gains will be in the smaller caps that's just a given um like especially if you have a cap like um like let's say for example ddos right it's like a two million dollar cap so if someone plows in like half a million dollars into that like that would have the most explosive growth um but but of course there's a lot more risk so this time around i don't think it's going to change i don't think people's mentality changes at all like the the the like obviously you think people would learn from their mistakes from last time where you know small caps and alts went too crazy but now i think i think people people the group the horse mentality is always the same her mentality is always the same sorry sorry sorry sorry apologies for for laughing at that puya but i definitely think that this year um proven projects will go the big funds will invest in them but the people who made money off the big projects will just plow them into the smaller ones that's that's just uh the way it is but anyways um yeah uh like or bought like elijah kellen says like or the box plan will haunt your dreams so thank you guys for past 200 likes thank you guys so much for fat um crypto garden says once gas fees goes down then alts can really pump and also a lot of stuff is happening on buying a smart chain avalanche um there's gonna be algorand cardano got outcome finance coming up there that's pretty hot right now i'm doing defy layer on uh cardano so anyways um yeah that's gonna be just gonna be a lot of crazy stuff anyways um guys thank you guys so much for watching today um really really really appreciate all the likes that you guys been smashing uh being super awesome talking to you guys thank you guys so much for watching i'll see you guys next stream i'd like to take the time now to tell you a little bit about everything that's happening in the box mining 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 box mining bitcoin out of the box podcast and the reason why it's called bitcoin out of 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 whole idea of it is to bridge that gap between knowledge privileged institutional investors and the rest of us here in this space now with the podcast it's on everything so it's on apple podcast it's on google podcast it's on spotify just search anywhere bitcoin out of the box so just add that onto a playlist and just follow the new 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amounts of trends that we see and i have to give a big thank you for claudio our community member for doing this it's just been phenomenal definitely want to give you a shout out there claudio as well for that and taking us to the end of the live stream so make sure number one you click like and subscribe on this video because it really does help this channel and then of course check out the podcast it's one of the best ways to know a little bit more to extend that knowledge especially in your spare time and then of course check out the newsletter if you're um you know 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