Is the CRYPTO DIP COMING? Bitcoin and Ethereum Update

Not a hoodie under it. Holy shit, it's cold today. It is extremely cold today. It's very, very cold. All right, looks like you're live. And click ready to start streaming. And we are ready to live stream. So welcome back, guys. It is Monday, the 11th today of January. Wow, this month's passing by. But it almost feels like a decade has passed since we last met, even though it was last Saturday. Today, we're going to talk a lot about what's happening on the markets because the markets did move quite a bit. In fact, Bitcoin dropped and Ethereum dropped a little bit. That's why kind of the title is like, is a dip coming? Because the last few days has been, or the last few weeks even, has been very, very parabolic in terms of growth for Bitcoin, Ethereum, a lot of altcoins, a lot of majors, right? We saw even the altcoin side, we saw some coins were just doubling up each day. Like, even though the ones that we haven't heard about for a while. So we're going to talk a little bit about the view on the market and kind of what's kind of happening right now. Obviously, it goes without saying that we're in a very, very volatile state right now at its current point because there's a lot of uncertainty. I mean, the technology here is just fantastic. But at the same time, of course, the hype here is ridiculous. It's a point where right now, even in Hong Kong, on mainstream media like TVB channel and quite a few other channels, they're aggressively talking about Bitcoin every day. And this is going around the world as well. Whether you're in the US, whether you're in the UK, whether you're in China, there's a lot of talk about cryptocurrencies. And the problem with this is that as mainstream media talks about crypto, a lot of retail gets in. And this makes the market very, very volatile because retail, a lot of times have no idea what they're doing, right? And this is something that we've seen. The trending, the trends for searching about Bitcoin, for Ethereum, those Google trends, those have been going up exponentially. And that's leading to a lot of people, which is great. They're discovering about it. But that leaves a lot of uncertainty on the market. That being said, of course, I'm seeing some bullish signals still. So a lot of people are actually actively buying the dip. And we're going to see the evidence of that in today's episode as well. So make sure you guys coming in. This is a regular live stream. We've been doing a few chats recently. And if you haven't caught up, I think a few of the chats have been extremely, extremely useful. So we did a fireside chat with Jeff Kredakis. And then we also recently did a talk with the guys at GenesisBlog. So those two videos, I would say, are very, very useful. I actually need to change the thumbnail for that. But two very good fireside chats. Reason why is because you need to have a grander scale view of things. Whether you're super bullish like John is throughout this whole episode, we're going to see how John was super bullish about crypto and how different people feel about this certain situation, especially people who've been in this space longer. We've been used to the ups and downs and the emotional rollercoaster rise. And something that I was commenting even to myself recently is that because I'm so exposed to cryptocurrencies right now, especially after I've been hodling since 2017, 2018, 2019. In fact, throughout the whole winter, I've been hodling accumulating Bitcoin, which has meant that right now that my portfolio size in terms of crypto has grown exponentially. That's great, right? Fantastic. I'm loving it. But at the same time, it means that I need to have better fund management. It's also kind of switching to a point where you need to be strategic, you need to be smart, you need to be focused. And that's kind of the situation that I'm facing myself right now. And that's why you can see that I've been under a lot of pressure as well. Every time crypto grows, it means that I need to up my game too. That's the focus. That's why I'm like so focused, so like straight ahead, forcing myself to move forward. And you can definitely see some of the stress coming in, in my past few videos where I'm like, okay, look, what is my best strategy here? And I'll talk and share some of my information. Obviously, it's not financial advice. I'm not a financial advisor. This is my personal strategies. And a lot about this channel has been me just sharing what's going on and kind of just discussing this as a community as well. So that's kind of the overall take about everything here. We've got EA says, I love the fireside chat. Muy bueno. Yeah, muy bueno. And yeah, there. So yeah, so let's get started. We'll talk about everything that's happening on the markets and everything. And if you guys are entering this channel, make sure you do smash up the likes. We have 400 people viewing this already. That chat has been going exponentially up, guys. So chat, thank you guys so much for coming in, saying stuff. Also, tell me where you're from. I haven't asked this question in a while, but I definitely want to see where you guys are from right now. So whilst we're doing the intro, definitely tell me where you guys are from, what time zone you're in, and if you've been trading 20 hours nonstop for a while. And that's happening. So anyways, guys, smash up those likes. It really does help. Let's try to hit 300 likes today. That's my target for most of these streams. And because a lot of people, guys, here are very, very concerned, I'll definitely say, you know, if you're concerned, smash up the likes. We'll do more videos like this soon. So guys, let's get started. All right, let's get looking at the market. We just have a few comments going in, which is cool. It says, Kali says, watch your language. Yeah, I was a little bit aggressive the last few episodes. Wow, we got a lot of people commenting on where they are. We got Long Beach, California, Jamaica. Well, I love to go to Jamaica sometime. We got Florida, Florida. I wonder if Disneyland's still open there. I love Disneyland. Like when I was, that's my memories of Florida, you know, Animal Kingdom. We've got Northern Cali. A lot from the US. We got Tampa, NY, Philippines, Tennessee. It's a party over Canada. That's a lot of people. Monterrey, Mexico. Monterrey, Mexico. Wow, I would love to go to Mexico. I'm from Mexico, but in Germany. So we got a lot of Europeans here as well. Thank you, Ireland. I wonder what the scene's like in Ireland. But anyways, guys, thank you guys so much for watching up. We got some people commenting about 2017, PTSD acting up again. So yeah, so definitely if you look at the markets today, like we got Bitcoin, it's down 10%. But like, it was kind of funny, right? I was like, it's down 10%, but it's 36K, guys. 36K. It's ridiculous still, right? Ethereum, it's down. It's still above 1,000, but it's at 1,200. It's hitting. We're trying to discover where our support is. So this is something that's very important about this session here, where we need to find where our support is, where people are starting to buy up. And because the thing is here, right? I just want to view this, right? I left this view here for you guys, which is, why is this not updating? Give me a second. Figure this out. Okay, so we're updated here. So I'm like the weather forecast, man. All right. So something that you want to look at, all right, is this is 2017. All right, that's exponential for pretty much for Ethereum. But look at us now. That one single line up. I mean, that's definitely crazy, right? This is not even like a slope up, you know, a gradual increase. This is like a one kind of just rocket ship ride to the moon. And if you look at it like this, so this is on the one day view. So we have one day candles here. It's barely took a few days for us to get up to above 1,000 right now. Now, obviously, the goal for Ethereum, I would say, so we'll visit Ethereum first. We'll talk about this stuff. But this is kind of the exponential mode of this market. This is what makes this market so unpredictable. It's because, so the tech here is amazing. Like I said, the tech here, Ethereum's on to something crazy. But at the same time, the market is also just equally insane. If Ethereum went up like this, if Ethereum's price went up like this, I think it would have been, you know, much more reasonable, right? Let's say it was like, it was growing in a linear fashion for a while from September. And then just suddenly, that rocket ship just took off, right? So right now, we're just literally aligned, right? I mean, there's no need to really draw this, but we're literally aligned at this current point. So definitely, we're in a phase where we need to really figure out where our support is. So if you just, let me just zoom in down to one hour. We're going to have to see the hour candles here. So we are dropping quite a bit for instance, the last few hours. And we're kind of seeing some minor support here. So we can see that a few times, okay? So this is not the strongest support because we saw it on the eighth. We saw a little bit, so on the eighth, that we kind of, the bears rejected 11K. All right. So the bears said, nope, you can hit it. But, so the bull said, nope, you can hit it. You can hit that line, all right? But we're just going to buy it all up there. Something that's kind of interesting this morning. So this is actually quite interesting too. If you guys look at funding rates, so I've been actually looking at how funding rates work for a while, right? And if you actually look at the ETH funding rates, so let's go to ETH perp and look at funding rates. Right now, the funding rates are extremely positive, right? So what does that mean? Why am I looking at this? Why is it interesting? So what happens when funding rates are positive? It means that longs are paying shorts, right? This is the people who are longing Bitcoin. So the bulls are paying extra money to get that position. That means the people, the traders here, especially the derivative traders, they're all on longs, right? That's why longs are paying shorts, right? So there's a disproportional number of longs in the market. So there's a lot of people looking for this opportunity to buy back in. So this is why I was wondering this morning, you know, what's the funding rates at? Are they trying to promote people to short or they're trying to promote people to long? It's very clear because longs are paying shorts. They're really trying to promote people to short crypto right now. So that's very, very interesting. That's actually a very strong signal that traders, right? The derivative traders, especially like, you know, these are the traders can trade up to a huge volume. They're looking for the upside. They're looking to go up. They're looking, they're, they're, they're very, very bullish. They're looking for opportunities to buy the dip right now. And in fact, that funding rate has also increased throughout the night as well. And something that I've been doing, just like an offhanded comment, why the funding rates are pretty interesting and why I'm looking at these right now is because you can actually kind of play with funding rates. So like, um, if you have a spare USDC, what you can do is you can actually make APY on your money by having both ETH and a shorting ETH at the same time. So you have a net zero position, but you take advantage of the negative funding rate. Interesting, uh, way to do it. So, um, Guymeister says, you know, how far will ETH drop? And this is the, the million dollar question. So right now, all right, as we're, we're here right now. So I, I see that this might be a small little bit of support here. So it might be the case that I could dip to, um, try to touch the 11K line. All right. If people are extremely bearish, they could, all right, could dump all the way down here. So this is where the last bit of kind of resistance was. And we do know that historically what happens is that resistances turn to support. So if we dip below 11K, there is a risk, okay, the next zone that we really see up here is at around 700 ish. So that's quite far. That's quite far. That's a quite a far dip. So let's be honest here. It might be the case that there could be some stuff up here, but it's not very strong. If you can see, we don't really have much data here. If you look at the history of this, we kind of just went parabolic up, right? That was the kind of the situation that we had. We went parabolic up. Here, it could be the case that there, there is some minor support at 900 as well. But I do see that right now, the support seems to be at around 11K. So 11K, we'll see how the markets react. Now, what's interesting here as well is that the Asian markets are waking up. So today is Monday for us in Asia, and it's right now, it's 1115 AM. So the markets are kind of just, you know, stirring up at this current point. And what we do see, that's kind of very interesting, is the pattern that we've been seeing most of the time is that when I wake up, so like 9, 10 ish, I wake up very late nowadays. Okay, don't judge me. I sleep very late. But when I do wake up, what tends to happen is the markets are down. And then throughout the most of the day, the markets actually move us back up. This is a big sign that the Asians are more bullish now. So this is actually kind of a shift that we've seen in the, like a shift of trends that we've seen. So in the past, and I've discussed this with John as well in the last episode, where typically speaking, Asia has been very bearish. We've seen major dumps happen like three, four months ago when Asia is awake. And when Asia is asleep, the markets just go flying. This is also why I actually don't really sleep anymore. But that's kind of the, being the trend. But now what we've seen is that towards the afternoon in Asia, we've seen the bears kind of losing momentum. And then the bulls coming, coming back in and picking things up. So that's kind of the interesting trend that's been happening. So at this current point, I haven't actually made any major moves yet, but something that I have been discussing with Jeff and with quite a lot of my friends is talking about a strategy for a dollar cost sake, average out. So I think a lot of people don't want to hear this, like the kind of, you know, like typically speaking, right, when you're on YouTube, everything that's positive gets shared really aggressively in the bull market. So as we're in the bull market right now, everyone's like, oh, retweeting Bitcoin, 1 million. All right, let's retweet that. Ethereum, 100K by end of year. Let's retweet that. You know, like typically speaking, people really love to hear what they want to see, right? I think this is the issue with crypto and the public psychology overall. And yeah, definitely fell in that road in 2017. But this year, coming into this year, and one of the strategies that did save me is that when the market moves up, you know, naturally, a selling strategy needs to be in play. All right, because you are in a bull market and a bull market is a market where you do take profits. And a bear market is when you enter positions, right? So we've been talking about the entering positions and having the opportunity all the way from 2018, right? From 2018, 2019, when Bitcoin was 3,000, it did touch there. I was like, hollering, oh man, this is a great time. But everyone was depressed. Everyone was down. No one wants to talk about it. But now we're in the reverse situation. Everyone wants to talk about it. But now we're going to talk about, you know, being more safe, having a strategic play as well. And that's my two cents. So that's kind of the situation right now that I feel that's going on. Now, Bitcoin itself as well, I think Bitcoin is a little bit more interesting if you actually look at what's happening with Bitcoin. So Bitcoin, yes, also took a dip. I mean, I can't believe we touched 40,000, right? But Bitcoin's a little bit more interesting because we do see some more history up here. So we do see that last, previously, we had a resistance point at around 34K. And then over here, we have, that's going to turn into support as well. So we're going to, we're fastly approaching what could be that support line at around 34K. And we'll see how the market responds, right? If it responds negatively, yes, it could actually dip a little bit below lower. But yet again, there's another line here where we see that, let's put that here. Let's have that here. But we do see some more support at 20, so 30K, 30K levels too. So there's kind of, you know, a little bit more stability there, maybe. So I think that's kind of the situation right now. And I think it depends, all right? Tell me guys what you guys are freaking out about or if you guys are new to the market or if you guys been around, you know, what are you looking for in this market? Because I really want to see if people are freaking out or if people are very calm and steady and taking a very methodical approach to everything right now. All right. Josh Alexei says, don't let them shake you into selling. I kind of feel it's very interesting. I've been watching a few YouTube channels about, you know, how the institutions are playing with us here. They're trying to shake out the weak hands and they're making a story, a narrative for this, right? I kind of find that very interesting. I think it's a very good, a very interesting story to tell. Like, you know, the institutional investors, they've been investing enough in here for a long time, right? They've been building that up and then they want to shake you out before you go up. But honestly, I don't really believe that narrative. It doesn't make any sense to me. So the reason why is because institutional investors like Michael Saylor, they've been buying Bitcoin throughout 2019, 2020, right? So they have accumulated a lot, right? Like last year towards the end of the year when Bitcoin was still around 13K and hovering around that level, Michael Saylor was just going out hollering. He was just like, my God, guys, I bought half a billion dollars worth of Bitcoin over time. And the only reason why someone would send that signal and send that message out is if he's already finished accumulating. So very likely institutional investors have finished what they wanted to accumulate already. They're shilling their bags at this current point. So that story, that narrative, I don't really believe it. Well, that someone's trying to harm you or do anything. Right now, the market is in a very volatile state and a lot of people are holding on. You know, even institutional investors, they're holding on to this for their lives, right? A lot of times, I think, you know, Michael Saylor probably already have 3x profit. And I think from the institutional perspective, as long as you beat a 5%, I mean, that's the thing with how these funds operate and work, right? These large funds, they don't promise huge gains, like 5% per annum. Sometimes that's all they promise, right? So as long as they beat 5%, it's fine. And right now, at this current point, they're probably up around 300%. So they don't care. They frankly don't care. They're just like riding all the way out, you know? That's kind of how it's working. So I don't really believe in these stories. It doesn't really make much sense to me. It's like, it's a fun story to tell kids, right? That's the way I kind of see it. It's a fun story. It makes good YouTube content, but it doesn't make good trading strategies. And that's something that I've been very homing on for a while now. I've been trying to figure out what's happening within the industry, right? Cryptocurrency has become a huge industry right now. There's a lot of OTC desks, circles going crazy over here in Hong Kong. I've made investments into Genesis Block as well. I'm just trying to make sure that I'm up to date with what's happening when big money moves. And I can tell you, big money doesn't really freak out that much, but at the same time, they're interesting. They're interesting. You definitely have to read between the lines when people say stuff. So when Michael Saylor says, yeah, I have a billion dollars, $500 million of Bitcoin, micro strategy, we're up there. That really means he's finished accumulating. That's the way I take it. That's me reading between the lines. You will never really say that when you're accumulating, but after you're done accumulating, we're good to go. All right. So we got King Royal Crypto says, just a correction, happens all the time. We got Kara, Carla X says, your voice is shaky. Really? Really? Okay. Cool. Maybe. He's channeling Jedi Force. I'm actually trying to be a little less crazy recently. I'm being a little bit more calm. I think, yeah, I wouldn't say shaky. That's weird. I don't know. Kyle Davis says, remember, he fell to $10 last bull run. We got Dennis sees his outseason cancel. So there's definitely a lot of concern on the market. So that's a little bit surprising, I would say, like how that shift of momentum really happened. I feel like last time chat, we were like going like crazy, right? Last time, especially when John was there, everyone was just encouraging him. Like John's bullish laugh is hilarious. But anyways, I feel like this is yet a time when, I've done this in 2017 all the time, right? And 2017 was a lot more savage than this. So this is why I'm a little bit surprised as well where, okay, sure, we got 10% dips on Bitcoin, right? Last 24 hours, in fact, 12%, wow, so 14%. Okay, so we had that last time, right? We had during the last run up, last bull run in 2017, we've seen this many times. And if you rewind a few of my videos, we've seen that a lot where, you know, it was all about damaged ego control, right? Where people who are not experienced, they get very emotionally affected by this, especially if they're on a leveraged position, that's, you know, that's when it's scary, right? So we've kind of almost seen that on Friday as well, a mini dip, and then we move back up again. But this time, I feel like this, it's kind of, it's dawning upon people that this is a very, very volatile market. And 2017 was definitely like that. If you actually just roll back to the history of 2017, what we saw is that there were huge dips. There were dips that lasted a long time. So I feel like this is not, you know, yet again, it's something that we kind of do on YouTube. It's like, we talk and then we kind of figure out what people are thinking, which is great, right? But at the same time, it's like, it could be rough. It could be rough. Yeah. So moving up to 2017, we had these gigantic dips. So let me just zoom in on this a little bit. So we have on the one day view and then you can see that during this time, right, especially in the time moving up in 2017, there were these dips that, you know, Bitcoin goes to 5,000, boom, drops all the way down to 22,000. Just think about that, right? Think about if the same event happens. I mean, it doesn't really look very pronounced on here. It looks like, ha ha ha. Like if you were here, right? Imagine if you were in this situation, right? Let's imagine if like Bitcoin goes to 50k and then one day it drops to 32k, right? Wouldn't you be freaking out? Like these were times back in 2017 when I'll be making videos like this and I'll be like, oh my god, guys. Oh my god, his voice is shaking. Oh my god, it's gonna go to zero and then like three days later, boom. All right. So right now, I still believe that there's a lot of bullish momentum still. I still feel like that, but a correction like this, like a pullback like this is absolutely important. So we got Mr. Keep It Lit. Sell, sell, sell, sell, dump, dump, dump. What I'm gonna do is, wow, we got 2,000 viewers right now. Are we, is this real? Is chat real, guys? Is this chat real? Are we, are we, do we really have 2,000 people freaking out right now? Boris is like, Boris Ross is like, what the hell, what WTF is happening to Eve? Sorry if I made that voice, but yes. So we got lots of bear shillings sell, which is a good, which is a good sign, right? So we got Coke, we got, we got, yeah, yeah is king, all sell, sell, sell, buy, buy, buy, buy the dip. I mean, guys, this is a very, very volatile time. And I think something that's kind of interesting for me, right? So why I'm okay with doing these streams as well is that I've always set my positions beforehand and I've set my strategies beforehand. So there's actually no need for me to rush. The emotional rush is kind of the worst. Like I found that the worst. It makes you like people strategically speaking, right? I mean, I hate this, right? Buy low, sell high, right? So right now we are at a point where it is dipping, but how, how, how much will it dip? What is the strategy forward? I think that's probably a much better question than, and much better comment than buy low, sell high. So something that's interesting right now is that as the video is progressing and why everyone's probably watching right now. And so if you guys are joining this channel, by the way, please do smash up the likes. It really does help. Well, one thing I'm also going to do is I've seen that chat is going absolutely crazy. So thank you guys chat. Let's smash up the likes whilst we're at it too. Guys, really, really thank you guys for just tuning in today, but yeah, smash up the likes whilst we can. I'm going to just enable slow mode at this current moment point, because I feel like everyone is either saying buy or sell or something crazy. So we're putting that to slow mode to 15 seconds of slow mode. So we get some good comments and questions coming in. So something that's very interesting right now, and something that we've been talking about is that there was, and there is some support that we've been seeing. All right. So let me just move not to one minute, one hour. So on Bitcoin right here, just wait for my computer to respond to me for a second here. So we are fastly approaching what we saw here as a little bit of support. So at 35 K, there's a little bit of support and it might even go down to around 30 K 31 K level, where we're going to test the other support. That's something kind of interesting. So obviously it's been a very, very rough, right? It's been a very wild ride, rather not a rough ride. Today is a rough ride day where everyone freaks out. Everyone who's on a leverage position gets freaked out. I do want to say that during these times as well, sometimes one of the reasons why there's these huge dips that come in, right? So it's actually not that crazy right now, but sometimes what we see is these crazy dips that go like, all the way down and all the way up again. And then with the same thing, the Bart Simpson pattern, that's almost infamous in crypto, right? So we've got the reverse Bart Simpson pattern. And why that is very common as well is because some people do take on leverage positions. So people were taking on leverage positions. Let's say if they had leverage all the way, like when they're like in 41 K, let's say for a 41 K, they took on a leverage position, right? If that is the case. So we're right now, let's see, let me just do some quick maps here. 35 divided by 41. So right now we're down 15%, right? So that means that anyone who has a, let's see, a 30, 15% for anyone that's 10 X or more, in fact, seven X or more, they're likely to be liquidated at this point. So people are very, very bullish. They take on leverage position. They say, I want to leverage long. I think Bitcoin is going to go up even more. I'm on a leverage long. If that's the case, they're going to get liquidated. And then it's going to cast cause a cascade because that liquidation before it's a long, right? So that's almost like a buy. When they get liquidated, it causes a sell on a market, right? So that, so during liquidation events like that, they lose money because they don't have enough on their accounts to maintain that long position. And then the market just goes, keeps going down because their long becomes a short because it has to, the exchange has to find a buyer for that long, right? So they sell it. And then that causes a cascading effect. And that's something that we've very, very seen, like very much seen in crypto. And it's also one of the reasons why, you know, even if you talk to John and you talk to a lot of the other, very bullish people, we don't really take positions more than 1.7 X or 2 X because, because crypto is very volatile. And sometimes situations like this happen where you cause it's like this huge burst of up, down, upward or downward motion. That's kind of what's happening right now. So during this time of volatility, what's also quite interesting is yet again, I'm still looking at funding rates and funding rates are still positive, which is interesting. But anyway, so just be a watchful, mindful of that. So we still see that. Okay. So we basically, the bears have really smashed down. All right. So they smashed past the, um, 11 K right now. So it's actually quite scary. I think a lot of people, they'll, you know, we're, we're in a very interesting state. It's like, it's a situation where I would definitely address this and say, look, emotionally, it definitely feels bad. But at the same time, I'm like, okay, look, when do I buy right now? Like, I'm actually just eyeing the market. I'm just saying like, how low can I go? And I'm like, I'm like, okay, look, realistically, right. Can I pick up some really good deals here? Um, the selling wave has begun. So my, oh my God, sold all my BTC bought at 40 K. Oh, wow. That's not good. What about YFI? So, um, a lot of people are looking at the alt coins, but right now it's definitely a time to look at the majors right now. So look at Bitcoin and look at Ethereum because they kind of dictate the pace of the market. Um, something that you kind of realize is that, um, a lot of times when big Bitcoin brings entire market up, right. And then Ethereum kind of follows Bitcoin is the biggest one. It's the one that everyone pays attention to. And Bitcoin also had an insane run, right? I mean, if you look at that, that run has been nonstop up almost, right. Apart from the times when we did make some major, major corrections on Bitcoin. So I still see, yeah, the, the Bitcoin, it's not always going to go up. And today is a little bit more aggressive. I think it's like throughout in 2021, there was supposed to be the most aggressive correction, but definitely not the case forever. Right. But yet again, Bitcoin moves up, Ethereum moves up and we've got to eye the motion, right? If Bitcoin kind of says, okay, look, we're going to establish some strong support at these levels. If that is the case and it moves up again, I think that's going to be all season time. That's going to be ape season. But right now at this current point, right? Bitcoin, we need to eye Bitcoin. We need to see where the support is. And we'll have to see if 34 K holds something interesting is that, let's see. So there was definitely a, like, so we, we pretty much saw it live here, right? So you can see that, you know, one hour candle, we dropped from 36 K to 34 K, right? That's definitely a liquidation event where people's positions did get liquidated. I think a lot of people may be trying to buy the dip here and they didn't expect that the dip would be so strong to hit that support. So we're going to, so now is a very, very pivotal time, right? Now we're going to see, is there actually going to be any support here? Right? This is going to be very interesting. All right. We have blood in the market. F, F, F. look at dash new. I'm Hey, I'm new to Bitcoin. Should I sell? So this is a very interesting question. So a lot of people, you know, they, they reenter big, they always enter Bitcoin at these times. And this is much more volatile now. So I'll be frank with you. A lot of traders, and I've seen this a lot of YouTube, a lot of YouTubers, a lot of Twitter people, they're going to tell you, Oh, now is the best time to buy. All right. I mean, all right. Oh, not financial advice. Now is the best time to buy guy. By the way, guys, something I always say is that, you know, these are cycles, right? So right now we're definitely in a bull cycle, which is great, but both cycles don't always last forever. All right. That's the hard truth. That's what most, most people who have been in the space for a long time, they realize that. So now is a very risky time. So there's going to be a high chance that it can go very high. And I've seen that. And this is why I personally hold a lot of crypto. And yeah, if you guys are asking me, am I worried? Am I sad? Yeah, sure. If I lose, if I see numbers go down, sure. Why not? Of course I'm concerned. Of course I'm worried. Of course I have emotions, right? But at the same time, this is kind of kind of something part of the ride. Right. So obviously the best time to accumulate, I mean, this is notes for next time or et cetera, is when no one wants to talk about Bitcoin. When you see this channel and you see, I do a live stream and there's like 200 people watching the live stream. Right. When no one cares, when no one gives a crap anymore. And when it's like, when we're so bored, we're just talking about nothing because nothing's going on for a time. That's like, those are the market fear times. Right. And those are the great entry position times. But at the same time, now we're at the volatile state. And something that I've said is that I actually haven't started dollar cost averaging out. So a lot of times when, you know, when we, the people who have been accumulating when Bitcoin was 3000, 4000, 5000, you know, like people like me, people like a lot of people on my channel. If you follow the channel, we never, we never left you guys. During the bear market. Right. Remember 2018, 2019, those were really bad times for YouTube. Right. You make content. No one wants to watch it because no one cares. Right. Bitcoin is 3k. Who wants to buy Bitcoin at 3k? Right. That's like so stupid. Are you dumb? And Bitcoin's dead bet, bro. That's, that's what those are. Most of the comments I get, right. Bitcoin's done, you know, like, Oh my God, stuck, man. Screw you. I got Bitcoin. You tell me to buy Bitcoin right now. But. But obviously I'm thinking of when the strategy is, and yes, I'm nearing towards that dollar cost averaging out time, but I'm still not fully there yet. So yes, it does emotionally hurt when I see that, um, the markets move down like this, but. You know, that's part of, right. And I want to have that position. So for me personally, you know, should I buy or sell? I don't answer those questions. I'm not a financial advisor, but for me, what's important is how much exposure I have. Is that emotion exposure that I have to Bitcoin? Is that the correct amount? Now, this is going to be hard for you guys. You guys all have to make your own decision. You guys have to consult your own financial advisor or whatever that is. You're going to have to figure out how much exposure you want to crypto. For me, I'm aggressively in this market, right? Because I believe that not just like a few days down the road, but a few years down the road that this is going to make a huge difference. Right. And that belief really paid off, right? Coming from 2016, 2019, 17, 2018, 2019, 2020, that really did pay off to be honest. Now, one of my biggest mistakes also, right? And I've been very kind of blunt and clear about this on my channel is that I actually did find out about Bitcoin in 2012. Right. This is when I started mining Bitcoin and I was still possible to mine Bitcoin at that time on just a regular computer. I have a, I have a computer here. You guys don't see it because it's ugly, but I do have a, you know, a computer here. Um, and it was possible to just turn on your computer and mine 0.3 Bitcoin per day. Right. This is a story that I've been telling people a lot, but I think it's a, at this time it's important to repeat now. Now, 0.3 Bitcoin per day, you know, how much is that? Right. Let me just do that. I think it's like $9,000. 0.3 times, uh, 34,000. Yeah. It's almost like $10,000 per day. I mean, wouldn't that be cool if you just got $10,000 per day, but no, at that time it wasn't. Right. At that time, Bitcoin was $10. You get like $3 per day or even less, depending on how you're mining. Um, for me, I was mining on four computers. Right. So, um, and then I didn't really believe it. I sold it all. I sold it all 15. Like Bitcoin moved from 10 to 15. I sold it all because I didn't realize what was happening. I didn't know that I needed Bitcoin exposure at that time. Right. So yet again, it's a situation you have to decide for yourself, but for anyone taking this home here, right. Anyone who's watching this right now, like definitely pay attention to the space. Like, I feel like a lot of people feel like either it's too late or whatnot. Like you definitely want to pay attention to what's going on because the discussions here are so pivotal to the growth of this entire world. Why this is important is because if you look at what's going on politically speaking, and I was talking about this last year as well, is that the trade war limitations, politics, right? Politics is going haywire right now. Politics is going like down this way. Trust in world governments is going down this way. Biggest problem, of course, is that world governments created fiat currency. You want to have the U.S. dollar? Well, cool. World governments created that. Now, the biggest problem of that is that this year and not this year, last year, really 2020 was a year where around 20% of U.S. dollars, the circulating supply of U.S. dollars has been printed by the U.S. government. If you're holding U.S. dollar, you should be concerned. And this is why Bitcoin becomes so valuable. This is why a lot of attention got shifted to Bitcoin. So anyways, without going back too much, we got a lot of questions. We still got a lot of comments on buy or sell or whatnot, but we got booze, mugs, boozy mugs says, stay poor, normies, stay poor, guys. So we got Hugo Roberto says, already going up. You sound like the crash. Is that a good thing or a bad thing? 30K support coming back in. So let's look at the markets a little bit as well. So yeah, so this aggressive dump that we saw right now. So we're seeing 34. We'll see how this goes. I think a lot of people definitely, if you're on a leverage position, I think that's going to be very scary. So typically speaking, the markets like this, I actually don't take on very strong leverage positions. I am playing with funding rates though. So that being said, if I do have a position, it means I'm hedged on the other side as well. So in terms of trading, I've been doing that quite a bit to take advantage of the higher funding rates at this current point in time. Um, what if the U.S. decided to kill cryptos? I think that's a good question. I mean, China tried to do that in 2017, if you guys remember, you know, or Chinese government was like, yo, let's ban all exchanges. You know, congrats. You guys, it's like the equivalent of China doing that. It's like basically saying, yo, Coinbase, get up. Right. That's kind of what China did in 2017. And it failed a blismally. If you look at what Bitcoin is at now, you know, it's at a higher level than 2017. So the problem with, um, the beauty and the problem and the, the, the, the, the crazy part about crypto is because anyone with internet access can run a Bitcoin node. There's almost, and the fact that mining is decentralized across five continents, apparently every continent has mining. That means that it's almost impossible to kill Bitcoin. The only real way I would say to kill Bitcoin is if the entire internet is shut off. But even so, um, there has been efforts to put Bitcoin nodes on satellites. If you saw a blog stream, they were trying to do that. So it could be the case that, you know, this will becomes the fully unkillable currency. Like, unless you're going to bring down every single satellite, like, like it could be the case of Bitcoin will survive as long as humanity survives. That's kind of cool. Um, something that's also cool is from saying from Ramon Larson says, what's the negative news? You know, what's the news for this? Any negative news? A lot of times I actually don't look at news when like crashes like this happen. Um, you, you kind of surf it, but something that I'm very, very aware of, and this is something that mainstream media does a lot, right? Is that mainstream media, they kind of make a story up. Dip happens three, four hours later, there's some negative news. And then they say, Oh yeah, that's, that's the reason why, but that's actually BS. Sometimes the market just needs a lot of steam, especially when there's uncertainty on the market, especially when we moved up so aggressively, markets will eventually move down regardless of news or not. So yet again, here's a dip. Uh, here's your dip. When you look back, they do see you correction time. All right. Let's see. Um, so six hours ago, there was some, uh, talk about that. Reddit's still on, reddits like Dan Larimer abandons EOS. But this is expected, no? Um, yeah, there's not, not too much news side. It just, yeah, it's important now. I think for me personally, not to, not to correlate, um, you know, not to make up stories. It's not helpful. Yeah. ETH is in meltdown mode. Hmm. That's okay, right? So still above a thousand. It might, we might, we might actually test a thousand very soon on ETH. That'd be very interesting. Yeah. ETH is just like a whole arrow, arrow down. That's going to be interesting. Shocking times. Guys, we got like 4,000 people watching. This is like, this is me sipping tea and 4,000 people watching. This is insane guys. Um, um, everyone sell, sell, sell this, this chat has been going crazy. So guys, thank you guys so much for tuning in chat. Um, we've got, please discuss Ethereum. So Ethereum's we're going to see, um, it's very, very likely that Ethereum were experiencing an event where, um, there's mass liquidations going on. So I was talking about this a little bit earlier, how after a certain point, right? I think a lot of people, they kind of saw that there was some support at 11 K. So it's could be possible to allow traders also position their stop loss at around 11 K. And then when that triggers that triggers massive cells, which is what's happening right now. So if you just look at the kind of five minute candles, you just see like, boom, boom, boom. Like this is all just like, um, automated, right? Boom, boom, liquidated, liquidated, liquidated, liquidated. Like it's, it's wreckage time, right? Let me just, let me just take a look at what's happening on Twitter here, Twitter here. Let's go for, uh, wrecked. Let's look at some of the wrecked accounts. Um, so let's see bit max wrecked. Um, Hmm. All right. That's, it's very, very active. It's just like people are going crazy. I liquidated a short liquid did a long liquid. Like everyone's getting liquidated right now. It's insane. Oh my God. Okay. Liquidated. Long. So this costs like $600,000 to be like, it's insane guys. Is there FTX liquidated? Like, um, do we, do we have an FTX wrecked? Uh, I follow these wrecked accounts, but like, yeah, it's, it's pretty brutal. Oh yeah. This is the big, these are the big ones. These are the big ones. Yeah. Liquidated long. All right. So this is what's causing all this stuff, right? Because like, like I said, longs are when people are bullish, they expect the market to go up. But when the market doesn't go their way, what happens is that there's these giant cells coming in. So this is like $8 million. Boom. Gone. It's a long, it becomes a cell. When the exchange liquids, they're positioned. It just, bam, just hits that market hard. So it is obliteration right now. So, so we're kind of seeing some, ah, man, I'm like, I'm so tempted to buy right now. I mean, just, should I just end the stream? Oh, because that's, that's what happened right now with EVE. It just like, it was a cascading event. Um, people who were on leverage positions, they just got wreckaged right down here. And then that's when people, the, the, the bulls has picked that up. So, interesting. Cause $1,000 big, $1,000 EVE is, it's very attractive. No? Anyway, it's not financial advice guys. I'm just, just thinking to myself here, what's happening. Cause that's the position right now. I've definitely see the markets kind of moving very aggressively. Um, you have EVE is back up again. We, we can definitely, it's not even a weak hands at this point. I would say like it is weak hands getting shaken, but at the same time, it's people who are unleveraged, right? They're, they're, they were on a leverage position very likely. I mean, if you look at it, right? Um, like they probably like, look at, look, look at the, the way they probably think, right? They probably watched a YouTuber or someone talking about, you know, I, I, I, I should stop hating YouTubers. They probably watch someone and be like, Oh, I can take a leverage position at 1,300 something, right? They can take a leverage position. They feel like, okay, it's not going to drop so high, but think about it. From 1,300 down to right now to like, to around here, to around almost a thousand. How much is that? Like 25% plus like to a thousand something. It's 25% decrease, right? So that means if you're on a five X leverage or even a four X leverage position, you're going to get liquidated when it dips down like this. And this is one of the reasons why, like I've been saying throughout the whole of the last three months, I'm not taking leverage positions at this current point. It's very profitable for some people to take on leverage positions, but at the same time, right? If you're, if you're so bullish on Eve, wouldn't it be really sad to just like, you have a long position here. You're very bullish. You think it's going to go up to just wake up one morning to find that your position's been liquidated. That would be like the saddest thing right now. Like that, that would be just like, I don't know, like ripped, right? Like that would be F like F. So right now that's kind of what happened, right? So I think a lot of people did not expect Eve to fall so aggressively. And the way these exchanges work is that you have no time, right? When a dip like this comes on Eve, right? Like this, this happens within like an hour. The exchange doesn't call you up, right? This is this, this ain't like the nineties, right? The nineties are like, Oh yeah. They call you up. Yo, you want to put more money in, sir? Sir, sir, your position's about to get liquidated. Would you be interested in putting more money in here? It's not the same man here. It's like, here it's like, yep. Exchange liquidates you. Bam. You're out. Have a nice life, right? So yeah, just be careful. That's pop. So whales are buying in right now. Absolutely. So we definitely see that, um, there is a, there is support here at around 11 K. I think people just didn't respond. Like this, me, like I'm the dumbass who's making YouTube content when I should be trading. But anyways, I'm going to not stop swearing by the way. Um, like a lot, we've seen a few people complain and people request that. So I'll try to stop swearing, but yeah, that's kind of the situation. So we've got Eve about to explode, uh, holding my ADA strong. So anyways, um, so that's kind of the current market. Well, we'll look back on it as we grow. We'll cover some of the recent news and what's going on and what's happening. Obviously there's a lot to watch right now. That's especially with Eve for pretty much just watch the entire, that will be the episode guys, wrap it up. But anyways, let me go quickly through the news. Let's talk about something else. Well, as we're watching this, um, I'm kind of seeing if we're going to see, we're going to hold. Okay. Let's see if the kind of with the, if the bows hold around 11 K, let's see if that happens. I mean, we definitely see, see if we can form a Bart Simpson pattern here, right? If the Bart Simpson pattern, um, holds like the reverse Bart Simpson pattern holds up here, like you can see that like the dip. And if we go all the way back up to 12 K, that would be very, very interesting. Right. So we'll basically form a bucket shape up here. We'll see if that's, um, going to happen at this current point, but we'll have to see how strong that support is at this current point. So, yeah. Oh, you better not go in soft on a stop cussing bra. I don't know. It's like cussing is such a weird thing, right? Some people are so, um, sensitive to it, but I feel like, you know, it's just, it's life right now. Um, but anyways, I've got swear more. Um, if you want to see that, check out last episode of Jeff Korday, cause, um, that's when I went on a rampage. It's crazy. All right, bro. It's not 11 K. It's 1100. All right. 1100, not 11 K. All right. My bad. My bad. Relax. Calm down. 1100, 1100. I have 1100 right now. All right. Um, all right. Let's look at chat. Chat is crazy. Um, Daniel, the gap gap on says, man, I was sweating. I was sweat 10. Ethereum is a strong play. Yeah. So lots of, lots and lots of comments right now. Guys, thank you so much chat for, uh, staying strong with us. Um, this has been a really good episode. I hope you guys helped you give you some insight, some wisdom in times like this, when it's, it's especially easy for a lot of people to get caught up and get emotional. I feel like that's, that's been the key for me. Like for me, like focus and control of emotions has been extremely important for all these times. Um, like, yeah, like choose your poison. Yesterday I was like, okay, this is just some offhanded comment, but because training has been extremely stressful for the last few days, I was like, I stress, I was like stress binge eating. I went to Popeye's and I was like, load me up with chicken guys. Load me up. I just want that chicken, right? Chicken tenders, that sandwich, got the sandwich, got the tender, get the Cajun fries. Oh man, it was delicious. Get the gravy with the, um, with mashed potatoes. Oh my God. It was so good guys. It was, it made my day, man. It made my day. Now I'm like back, back to happy mode. I'm like, you know, calmly looking at this. Yes. Markets are bad, but you know, uh, high IQ here. Um, um, Pablo Don says, dude, saw you through the bear market. Remember your view count. I'm glad numbers are up. You deserve it. Thank you so much, Pablo Don. And thank you so much for your 50 MX donation. Yeah, it was bad, man. The bear market was like, um, it was brutal, right? The bear market was like, yeah, there were times when Bitcoin dropped to three, three thousand. I still remember during the time because like I was making those videos and I was just like wondering, like, should I stop making videos? I was like a time when I was like, you know, I'm holding Bitcoin. I'm buying Bitcoin, but it's like, in terms of view count, it doesn't really make much sense for me. Right. But anyways, whatever, like, you know, continue on, move on, make more videos. this was a time for people who are really interested and especially, so I really hope, you know, Pablo, you did manage to pick up some 3,000, 4,000 Bitcoin. It's like, it's almost like a joke now, right? Like we go down three, 4,000 a day, but back in the day, we will buy Bitcoin at 3,000, 4,000, but it's insane. Right. Uh, we've got coding gamma says, thank you so much for a donation. Uh, thank you so much for your donation, Cody. Uh, I like your lighting, uh, seeing the lighting simple and effective. Yeah. I've been trying to make it simple. Um, it's so weird. Like I, I didn't like starting crypto. I didn't understand anything about video. Right. Like, um, you know, like this thing was something I stumbled upon. Right. I was like, when I started making YouTube videos in 2016 and, uh, when I made videos, the community really rose up and helped me. And this is something I really appreciate about this community, about you guys here, you know, chat, you guys are amazing. Like just having a very wide view, like, you know, we, we seen, you know, everyone comes from a different place, right? That's, that's the crazy part about crypto right now. We all come from different countries. It's not localized. It's decentralized. Right. And that's the power of decentralization. You have so many thoughts and just so many use cases for Bitcoin as well. This is why yet again, every time I talk, I make myself FOMO, right? That's the crazy part about this. And the chat taught me a lot about how to huddle, how to think, how to be aggressive, and how to also be kind of defensive at times when you need to be. And that's the kind of the, the situation here. So we have Eve recovering. So that's expected. It's kind of, I'm kind of sad and missed out on data. That was like, um, Oh, wow. Yeah. I didn't really want to go and just cut the stream and buy it. But yeah, I was like so tempted, right? You can see that during the time when Eve was dipping, I was like, I was calm. There was definitely a little bit of fear, right? It's bound to happen, but also like looking at opportunities, right? That's so, um, hope you guys, so we've got a very, very green candle. So when this is when the bears, um, the bears is, I wouldn't even blame the bears at this point. The bulls are picking back up here. It's not really about the bears. The bulls were just letting the slide go because with the liquidations going through, right? When crypto was dropping this fast, right? Anyone who had a five X position or above, right? They will get liquidated. So yet again, it's like, it's sad, right? Rip, right? F, right? So anyone who gets liquidated at that time, it'll cause that, that kind of skating kind of, um, movement downwards and then GG, right? So yeah. Um, so choices. Michael keeps it real. Thankfully. Thanks guys for watching. Uh, X was, says PayPal stopped using BTC just now. I'll go big winner. I hope so. Uh, I'll go is actually finally moving up. So like talking about all coins and everything, I'll go is finally moving back up. Like it had a bad launch. It really had a, like a terrible, terrible launch, right? it, it, Algorand, um, this is Algorand I'm talking to about, but Algorand launched around $2, I think. And then I just dropped around 30 cents, right? So it just plummeted, um, scaring a lot of people along the way, but the tech there is super strong. So, you know, we've got Adam, Adam Glatzer. Thank you so much for becoming an OG King. Thank you for supporting this channel. Really, really respect that. So OG Kings, like this channel, like I really appreciate everyone supporting it. It really does help. We also provide, um, there's actually a team now in the background. So that's where the money goes and stuff to pay for that and the team. And for, for some other people who help provide the data. So thank you guys so much for helping with the channel. Like OG Kings don't get much right now, but I'm definitely going to add some more content in the future. That's very exclusive to people who are contributing to this channel. Really, really appreciate it. All right. So, um, looking up at, uh, transaction fees. So we had transaction street, up here. Just, I just want to take a quick glance at what's happening on Ethereum right now. So, um, so what do I look at? So definitely TX street has been a fun. Oh God, this is crazy. This is insane. Guys, get your miners out. All right. Get your miners. 600 gray, right? 596 gray for gas prices. Holy shit. Right? Like this is when swearing is appropriate. This is when swearing is appropriate. How much does it take to send an Ethereum transaction? $47. $47. Holy crap, guys. Like, Oh my God. I do not want to be trading right now. Like if you're trading on unit swap, like let's see what people are trading. So this is great. Right? So this is what, this is how it works. Right? So transactions tree, if you guys haven't viewed this before, it's a visual representation of how transactions are working right now in Ethereum. So you have these trains and carts. So the higher the number here, the more expensive it is to send. Right? So you can see like, this is a kind of like a first class compartment. It costs around 575 gray. We'll give you some costs. Right? So let's, let's say for unit swap, let's load up unit swap here right now. Let's try to do a transaction. So if you want to do a transaction right now, let's say, let's just sell. Let's, let's go for one EF to USDT. Um, all right. So let's see, connect a wallet up, Meta mask up, load up here. Um, let me just make sure I enter my password correctly. Um, so right now, like if you want to do a swap transaction, confirm, let me just see how much the fees are. Right? I'm not gonna, I'm not gonna click submit. Right? But the fees, right? That's, that's key. So, uh, let me just see how this works. All right. I'll move, I'll load it to this window because my windows are a little bit messy right now. So, all right. This, this is my window for a transaction fee. So, so right now at that price, right? So at, let's say 600 Guay, it's going to cost you a hundred dollars, right? To, to, to, to do a trade right now on Uniswap. This is ridiculous on Eve, right? This is insane. So if you want to get onto the first class compartment, you want your order to get confirmed ASAP, 600 Guay price. If you want to go slow, right? Maybe 500. Yeah. You're going to be targeting at $87. Who can afford that? Holy crap, guys. So like for a transaction right now on Uniswap, it's ridiculous. I cannot wait for new tech to come in. Right? So in the future, this is not going to be the case. This is just a temporary solution, right? Uh, right now we're using Ethereum, any transaction that goes on, you've got to pay those gas fees. And this is the price, right? So, so the Guay price is the, how much you're paying for gas. And the more you pay, the more likely you're going to get on the train, right? You can see who's getting on the trains and you can see it's expensive. These trains are expensive. These compartments getting on a train is expensive. That's, that's the key right now. Right? So anyways, that's, that's insane. That's ridiculous. So that's ridiculous, but okay. So, so a lot of people have been talking about, and you know, I just want to move this on as well. So, um, new tech is going to come in and why people are willing to stick with Ethereum now is because there's new tech. So recently I've done a very deep dive on ZK swap. So this uses ZK rollouts. So there's a new scaling technology. So it's, um, it's layer two, right? Or layer 1.5. You want to be technical about it, but layer two scaling allows you to do transactions. Just like almost like free, just like that. Bam, pop it up. Um, I'll show you guys ZK swap. Um, it's ridiculous. So like, let's say, let's say right now I'm going to connect to the wallet. Um, right now it's on test net phase. So this is where it gets exciting, right? Because if you, if you, once you, once this comes live on mainnet, like stuff like this, it's going to change everything. Right. So, uh, let's just, um, connect the wallet there. Um, unlock wallet, connect them, unlock wallet. There we go. Sign the message. But let's just say if, if you're, if you're on, um, Ethereum mainnet right now, if you're on, if, if this like really comes out, right? I mean, I should do this. Um, this is what I'm supposed to show you, but ZK swap uses layer two, right? So let's say it looks like exactly like the unit swap interface. I see just now, but you just click the swap button. You click the sign button. All right. You don't even have to, like, this is the price, right? This is how the inter, how the interface looks. I'll just show you in the most getaway possible, but you click the sign. So you don't, you don't actually click. Um, it doesn't cost gas fees, right? So that's done submitted and the transaction is complete. And that's the way it's supposed to work. So that's kind of the power of ZK. Layer two ZK rollup. So ZK swap is doing that right now. It's going to come up very soon on mainnet. So this is like kind of a preview of the technology, but Holy crap, that's the future, right? We don't want to pay a hundred dollars for fees. That's ridiculous. I don't, I wonder who's paying that, but anyways, also big note guys, if you guys are freaking out with these, um, network fees right now, definitely would say, look, if you guys can, um, FTX is very powerful. I know there's a referral link. It does help my channel, but something that's FTX offers right now is it offers free withdrawals, right? So if you want to withdraw Ethereum, you want to withdraw USDT, you want to withdraw something from exchange. You need to send that to someone, uh, you need to send transaction. You want to spend your currency. Well, FTX offers free withdrawals for every single coin, right? This is like, like, this is why I kind of swapped over. I'm a cheap ass. So like, um, like I don't want to pay like $5 or $11 to send transactions. So kind of funny thing is I also spend crypto right now. So anytime I'm, uh, like shopping online and I can use crypto and you can use it for a lot. So like bit refill allows you to buy like steam gift cards, or it can buy like Amazon gift cards with bit refill. So if you ever want to spend with crypto, um, you can withdraw it from FTX wallet instead of, uh, your own wallet, which means you can save on these ridiculous transaction costs right now. So, yeah. So typically speaking right now, like because transactions are so expensive, like I I'm getting priced out. Eve. Um, all right. So here's the deal. So unless I'm doing something extremely aggressive, I would not send right now. I will probably send Bitcoin. Bitcoin is not that bad right now. Like Bitcoin medium fee is around $5 right now. Right. But Ethereum is just insane. So typically speaking during these times, I will try as much as I can not to send transactions. It's just too much. It's too expensive. It's going to destroy you. Um, that being said, of course, obviously some things are very time sensitive and, you just have to bite the bullet sometimes. So I actually looked at my gas, uh, usage and fees. Right. And that actually added up to like five digit numbers. Like, this is ridiculous. Right. Like, um, like I saw, I was like, what was it? 24 K or something like that in terms of us dollars spent on sending transactions on Ethereum. You just got to bite the bullet. Sometimes you guys got to bite the bullet. Um, so yeah, uh, rampage one X, success is KYC for FTX. Yes, it's required. So anything above a thousand USD, I think it's required for, um, KYC for that exchange. So it depends on where you are, but, um, yeah, if you guys want, are interested box mining right now, also, if you guys aren't even interested, I would definitely encourage you to, um, get, get ready. Cause unfortunately I've been hearing that the, the, the list, right. For KYC is getting longer. So if you have referral code box mining, get 5% off fees, you can register, but it does take time now. So I think it takes like three, two to three days right now to KYC and get everything done. So I am KYC. I mean, I had to support, not support. I have to type in my name. Uh, I think the, the first tier of KYC is you type your name and your ID. I don't, don't quote me on that. I'll figure it out later, but yeah, I've done, I've done like the, the final tier, like layer tier two, where you submit your documents. You have to write that thing on a piece of paper, et cetera. Uh, took a long time, but you know, it was worth it. All right. Bye. Eve. Bae. All right. So just quick updates on the news as well before, let me, let me just take a quick look on what's happening. I even, it's like flying like crazy right now. Um, what's also interesting is funding rates have gone down. So this, um, I think it's mostly because of liquidations. So when we saw it, like when we started the video, right, funding rates are at, um, 0.1%. But now it's 0.08%, right? Uh, 0, 0.008%. So that's a funding rate. So funding rate, um, the bigger the number, the more people, the more traders are bullish, right? So very likely in the past hour or so, the bullishness has dropped most likely because of liquidations, right? People who are long, they get the positions liquidated. So they no longer hold that long. We're still having positive funding rates right now. So that still means that there's still a need for the exchange to promote shorts. So there's still, there's still more longs and shorts. That's the key. So people are still more bullish. People still think the price goes up. It's kind of funny. Um, there's just an offhanded note as well. We have so many people watching. Um, um, recently I got a suggestion, right? People, I just stopped using bear and bull. I just stopped saying, you know, short or long because people don't like some people who are entering, don't understand that. So give me feedback guys. If like, if you prefer up or down, um, I heard that was a suggestion. You should use up and, or in and down instead of bear and bull. Um, give, tell me if that's helpful. Um, I do know that some, for something like the leverage tokens, um, on Binance, they're called EF up, EF down or Bitcoin up, Bitcoin down. So if you look at those leverage tokens, but on FTX is called EF bear, EF bull. And Binance made the conscious, um, conscious name change because they found it was more helpful to say up or down instead of bear and bull kind of interesting, but anyways, off topic. All right. Uh, XRP has always been dead. Oh my God. It's kind of funny here. All right. Just double down on EF. Okay. Okay. So Nick miles is with so many folks screaming not to sell. It's rather time to do another step in DCA selling. So Nick seems to be a little bit bearish right now with so many folks screaming not to sell time to DCA out. He's, he's, he's, he's taking that as a signal. So Nick, by the way, thank you so much for watching. He's been a long, long time supporter. One of the first admins on this channel, Nick and Bernard Macarius, man. And he's like a very, very good. He's got a very good gauge in the market to really respect Nick. So Nick is a little bit, he's taking profits, right? So I think that's the kind of the key here. So anyway, that's interesting. We've got Ricardo Silva, Silva says, XRP, XRP guys, XRP. Is it time for XRP yet? I'm not sure. XRP is a XRP really shines when like, when people feel like it's super cheap. Like it's kind of funny, right? Like that's the kind of the way XRP works. Like, Oh, look, Bitcoin is so expensive. $35,000. But XRP dude is 27. I can own a whole XRP. Oh, Oh, Oh, XRP going to a thousand. I know that's, that's last, last bull run. I'm not going to hate it. I'm not going to hate it guys. XRP is its own XRP thing. I have some friends that just took on positions when I just dumped to oblivion. And it, it's, it's a very speculative asset at this current point. I would just say, um, yeah. Um, daily choices is bow, uh, scam rug pull or legit. Lots of people were talking about bow yesterday, but bow is like so expensive. You won't do like, I was trying to start farming bow. I was trying to start farming. Cause I, you know, with the, all these new coins and almost never buy them. I just farm it. I was trying to farm bow and I was like literally costing me like $200 to get in a position and to, to start to, to stake the asset. It was expensive. It was way more expensive. I think they're not very memory optimized for Ethereum and they were doing a lot. Like even when I unstaked the asset yesterday, I'm not unstaked when I, uh, took some bout profits out, right? Um, it barely covered gas prices. So unless you have a good strategy for it, it's, I don't know, man. Um, like bow seems to be, it's like the most speculative asset of last weekend. Um, I'm not really going to comment on it. And this weekend also, I think a lot of people were talking about SIL, like sushi swap, um, in permanent loss token. So Andre's cooking up something very cool. But yet again, this morning I was looking at it and I was like, okay, look, do I ape or do I not ape into it? Do I buy it? Because it's some new hot coin that could, um, go up like crazy. When I saw it at the time I saw it, it went up from three to $50 already. So I was like, you know what? I'm going to be cautious. Like personally, I'm going to be cautious. I'm not going to ape in at this current point. So anyway, so, um, let's do some quick updates. I think, um, it's about time to do some updates on what's happening around here. So first of all, pools, pools sold out food. There was an incubation project on duck down farm 2.0 pools. It's like already sold out. It's crazy guys. So I've been following a lot. If you guys don't know, I'm part, I've joined duck down. They're one of the strongest communities right now. The duck down, they have to token native token, the duck down dime yet against on discount right now, but duck down, they're incubating projects. And, uh, they've done quite a few good projects pools, bondly base, geek, defy pie fuels. So I've been doing that. I've been part of getting a few, uh, joining a few of their projects and pools is doing like super well. So congrats if you guys got in, we also have, let's see. So yeah, pools that, that was just gone. Let's see. Uh, what was this thing here? All right. E money. So there's a discussion of E money recently been taking a look at all of these E money stuff and also Cosmos. So we'll talk about that in very soon, but yeah, um, definitely take the time. It's going to, it's going to be live on Pokestarter on the 19th of January. So that's coming up very soon. Pokestarter yet again, launch pad doing super well. Trust swap launch pad doing super well. It's been kind of crazy recently, all these launch pads and stuff. It's like, for me, that's what I spent time catching up. We also have sushi swap. They're doing an ambitious 2021 roadmap. Yeah. Everyone was talking about sushi swap towards the end. The Friday. So on Friday, I was at China's block, right? So this is a Bitcoin center in Hong Kong and everyone was talking about sushi stuff. I'm like, okay, fine. There's a roadmap coming in some super aggressive roadmaps for sushi swap too. So definitely, if you guys haven't seen that, take a look at what is happening on sushi swap. All right. We also have, um, this is kind of interesting. China launches digital again. So this is a D set that we're talking about. D C E P or E C N Y, depending on how you want to call it. They have a hardware wallet for that kind of interesting, right? So China has been moving very, very aggressive in making, um, digital electronic, um, a digital version of the fiat currency. So yet again, a lot of people, I feel like they saw this opportunity. They saw China making these huge moves. It's not a new currency. It's not like Bitcoin. Right. But it's just a E version of their own currency after renminbi. And, uh, they're pushing that very aggressively. They're making these harbor walls for it. Something that's very interesting. Something I'm looking at that hasn't really been discussed a lot. And I think that there's technical hurdles to this is can this E version of renminbi bridge with crypto. That would be interesting. And they don't talk about a lot. And I think it's done intentionally because the government doesn't want that at this current point. And because the way that the digital renminbi is being held right now, it's being held in custodial parties. And there is a lot of censorship on that. It's actually quite hard to make a bridge to crypto. But anyways, we'll see if they, um, you know, you know, get, uh, unleashed it very soon. Um, we'll see how happens, but definitely lots of stuff happening this year in that respect as well. So I think we're pretty much clear with the, the news and updates to guys today. Um, I would definitely say it's been a very volatile time. I very much appreciate watching that dip with you guys. Um, yeah, I think that scared a lot of people and, um, you know, it seems like we did find support, which is very good, which is very good. So, so we're pretty much, um, here, we pretty much the support at 35 K held for Bitcoin, which is really great. I'm actually really excited now. And then we also have the support for Ethereum. We did drop. Okay. So we did drop to around almost 10 K levels, but interesting. It might be a parabolic, parabolic recovery soon. So we'll have to see. Anyways, I'm going to rush to the end. I need to actually make some decisions of how much I want to reenter the market at this current point. So I feel like that's kind of my next, um, thing on my own personal agenda, uh, is to see how much, how much I need to buy in at this current point. But I think that's leaving it to the end of the day. We'll have to see. Um, Jared Campbell says, that was fun. It is very stressful. I definitely see. And I think like, that's kind of the thing with crypto, right? Like it is a very emotional rollercoaster. Like I try extremely hard not to be emotional when I'm trading, like to always have a set strategy. It takes a lot of practice though. It's like, it sucks to see like a significant portion of your net worth vanish in the air. And you're like, oh shit. But you know, that's crypto life, right? You know, you gotta be rough. You gotta be rough or you gotta get out, man. If you can't take the pressure, you gotta be, you gotta consider if this is the right thing for you. Anyways, that's pretty much it guys. Make sure you smash up those likes. I really appreciate it. We have so many new people watching today. We have like a new record for how many people we have. We almost have a thousand likes. Holy crap guys. So if you guys found this video useful, do smash up the likes. It really does help this channel. Really, really appreciate it. We also want to highlight the last two videos that will give you some like very big insights. So there was a fire chat, side chat with Jeff Kredik is the CEO. Of TrustSwap. So much going on there, you know, um, like us there, we're bouncing with each other and saying, look, there's a lot, there's definitely a time to be bullish, but also be cautious. Kind of interesting. That was streamed a day ago. Did we cause a crash? Maybe not, but that was kind of interesting, but definitely check out that video with Jeff Kredik is. We also have the video with Jeff, um, with not with Jeff, with, um, John here. I got, I don't know why all my friends have names beginning with J. John, Jeff, the other Jeff. Um, I don't get it, but anyways, the other, the other, uh, John here, um, he's very, very bullish. So you can get, um, two alternate views here. I know they're kind of long videos and, you know, I just played them in the background. I think I don't mind, you know, it's okay. You don't need to look at my face all the time. It's all right. Um, I'll try to put them on the podcast as well. So I'll try to transfer those videos, get them on a podcast. If you guys want to listen to it on the way out, I feel like it's gives you a big perspective of what's going on. And I hope that makes it helpful. But with that guys, um, let's try to hit. Yeah. We're, we're, we're above 1000 likes guys. Thank you. Thank you. Really appreciate it. Really, really appreciate it. We've got Phoenix fire says like, share, subscribe, and consider joining. Thank you so much. And then I'm Phoenix fire. Thank you so much for joining as well. You have a nice smiley face next to your name. Really, really appreciate that. Also J low as well. Thank you so much. Llama six, six, six, six, six, six, six, six, six. Uh, thank you so much for joining Angela Wang. Also, thank you guys so much for joining guys. Um, really appreciate it. Um, really, really respect you guys. I hope you guys stay safe. Um, that was a rollercoaster for a lot of people. We saw chat was going up crazy. So guys, um, you know, uh, be cool. This is part of crypto. Um, I guess we gotta get used to it. I also have this. I'm not sure if you guys see it on the, um, on my table here, but this is kind of cool. So I recently bought this. It was, you know, um, this is a Bitcoin tram. So I got this on GB from Genesis block, the Bitcoin center. So in Hong Kong, we have these historic trams. These trams move across the whole of Hong Kong Island or the whole, um, business district of Hong Kong Island. It's very, very legacy tram that we have here. But, um, yeah, this is from the colonial days and it's been operating and still operates until now. Um, the guys at the Hong Kong Bitcoin association, they wrapped this, um, entire tram. So this, this, this tram was in real life. So this, um, they had this, um, trap, um, this tram wrapped up, uh, with, um, the Bitcoin logo and that was going around the city. So anyone who saw that, if they bought Bitcoin, they'll be pretty well off right now. So I think that's pretty good. This is, um, um, uh, this is one of 200 limited trams. It's kind of cool. Um, a little bit expensive. We're going to be doing a giveaway. I bought a few for you guys on the channel. Like, yeah, but, but a few of these trams for you guys. So this is, um, one five seven out of 210. So we'll be doing a giveaway for these, for this one at the very least coming up very soon. I'll just plan how to give that away. But yeah, this one it's like, it's like roughly a hundred dollars for a tram. I'm not sure if that's worth it or not, but it was like 888 Hong Kong dollars. So roughly a hundred and, $120 us. But anyways, um, or if you want to be in pounds, it's a hundred quid. Um, but anyways, guys, thank you guys so much for watching today's video. I really hope you guys do smash the likes. Hope you guys stay safe. And if you guys didn't manage to buy the dip, congratulations. Cause yeah, you're pretty much up like 10% right now. And with that guys, thank you guys so much for watching. I'm going to do the outro right now. Um, see you guys next time. And, and by the way, it's our streams. In terms of streams right now, we've got the podcast and we have the streams streams are Monday and Friday. So 11 a.m. Hong Kong time. You got to have to figure out what other times there are in other time zones, but I'm going to put up the stream right now. Um, I'm not going to be lazy. I'm going to try to create the new stream. So you guys stay tuned and we're going to catch up to see what's on the next episode. Schedule a stream up here, uh, create a new one. We'll have to see. We'll have to see if, uh, markets move up or down, but it's going to be a fun ride for us this week. This week is going to be insane. Like it's going to be fun. Maybe not, but fun. Maybe not, but it's going to be exciting. Cryptocurrency update. Uh, crypto, crypto live stream. All right. Just making sure that's done here. All right. Then, um, we're going to make that next one. So it'll be on Friday, but make sure you subscribe, make sure you click the notification bell as well, because we do definitely have, um, surprise live streams coming up, especially to see how the market's responding. I definitely see a lot of volatility ahead. So we're going to schedule the stream here. That's the, that's the timed one. Um, we've got crypto legend said, as a crypto expert, I believe in birds, man. We have some people commenting politics. It's kind of crazy. Politics have been going haywire the whole of last month. And, um, you know, my rule of it, I, I, I, I gauge what's happening, but I never get emotionally involved in politics anymore because I feel like emotions are unnecessary. Like I'm like a robot. I'm like, I'm like Spock live long and prosper. But you know, the key is to prosper, right? You know, that's, that's a key, right? You know, living long. I don't think we can buy that yet, but prosper. That's a key. So yes, Spock, Spock's got it. Anyways, guys, um, let me, let me throw that onto the chat right now. Uh, the link for next stream. So if you guys can, um, this, you know, go on that, come on next stream, catch up with me, see what's happening. It's going to be a super fun time. Let's see that. Boom. So that's the next one's live in three days, January 15th, 11 a.m. Hong Kong time. I also show the right time for you guys on the stream. So yeah, just make sure you get that set a reminder if you can. And with that guys, thank you so much for watching. Thank you guys for so much for smashing the likes as well. Really appreciate it. Thank you guys for the comments as well. Definitely really helpful for me to gauge what everyone's feeling and thinking about right now. And with that guys, see you next time. I 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 the box is because we have a long interview segments, very much exploring the detail of the newest and latest of what's going on in this whole cryptocurrency space. The 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 it anywhere. Bitcoin out of the box. So just add that onto a playlist. And I just follow the new episodes when it's released. Next up, we also have the box mining newsletter. So this happens roughly bi-weekly. We give you an update of the latest that's going on in a very summarized condensed format. So this is perfect for anyone that wants an overview of the market. Say, for example, what's happening with OKX, the biggest event, or maybe the little things like what's happening with different coins and overall the trend. So what I use the newsletter for personally, myself is to understand what kind of phase we're in, in crypto to kind of get kind of in tune. So if you don't read crypto every day, the newsletter is perfect for you. Last but not least in the link down below, if you're a telegram user, we have the box mining announcements channel. So this is to announce you basically what's the latest videos coming up, but also we have a daily update, a community driven daily update to provide you an idea of the latest updates on a day. And a lot of people have been using that to get informed of the crazy 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 a 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, 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. Bye. Bye. Bye.