 So Dan, can you give us a brief overview of the latest movements in the market and what we should expect in the next couple of weeks? Sure. So last time we talked we were at about 5,000 and it seems like a long time ago and since then we've shot up to 13,800 and we've also pulled back significantly. So at this point we're looking to establish a range. We have our clear resistance 13,800 or is where we topped out and now we're pulling back to find our support level and I feel that we have found our current low for now and I expect to trade within that range. So our low we just hit was about 9,600 and I expect to trade within 9,600 to 13,800 for the coming week or so and I'm still bullish in this space especially with Bitcoin because of the weekly timeframe. The weekly trend is still a very clear uptrend which means every time we consolidate we're establishing a higher low. So if you just imagine a stair step pattern we're just establishing bases of support while we're on our way up and a lot of people are looking to say when's the alt season coming? Where are the alt coins going to start breaking out because in 2017 when Bitcoin was seeing this significant price action the alt coins were following a bit more significantly than they are right now. So we're keeping an eye on the charts that have the Bitcoin pairings but at this point as long as Bitcoin keeps this dominance that it is currently holding that's where my attention is going to remain. Yeah so talking about alt coins prominent traders lately have said that they are pretty skeptical towards their future that they are not going to follow Bitcoin in the next bull run. Even Peter Brand a prominent trader also compare them with the dot-com bubble. Do you share this kind of point of view? I definitely do and I could see this coming from other markets so trading the stock market and specifically other sectors I trade the marijuana sector and I saw the same thing happen the marijuana sector boomed and 150 companies appeared and so all these small companies are trying to ride that wave of hype and a lot of them don't make profit they're not going to ever go anywhere and I feel the same thing is happening here. We've seen alt coins show up by the hundreds and the vast majority of them I'd say over 95% aren't going to be successful long term so it really is imperative to have really good fundamental analysis to try and pick because again the odds are not in your favor to try and pick that 5% or maybe even less of who are going to be successful longer term. All right talking about Mike Novogratz. Mike Novogratz said lately that Bitcoin is consolidating right now in between 11,000 and 14,000 and it will be staying in this range for sometimes until the momentum enter its next leg and we go up higher. Do you agree with this prediction and if so how long do we need to wait until we actually go up? So the saying is the trend is your friend and I definitely agree because like I said we're in a weekly uptrend so we keep establishing these higher lows and I think if we do see a new higher high over 14,000 everybody's sights are instantly going to shift to the 20,000 all-time high from there so I would say like I said I think we can trade within the current range we're going to bounce around a little bit for the next two weeks perhaps and within two weeks if we haven't seen the bulls break our current top of 2019 that would make me a little bit skeptical and say okay the bulls might be running out of some momentum so I'd say best case scenario for the bulls within two weeks breaking 14,000 and seeing the next leg up. Talking about now Bitcoin futures so Bitcoin futures are showing signs of increasing popularity in particular CME Bitcoin futures hit 1.7 billion in notional value traded on June 26 which is a 30% increase from its last recorded high. What is the reason for the increase in popularity of Bitcoin futures according to you? I would say it's just more and more people getting interested in the space and it's just another trading vehicle so when we see a Bitcoin ETF whenever that happens and it will happen eventually in my opinion but we'll just slowly see money go there and it's just allowing traders to have more vehicles to be able to trade and also to play around with leverage to perhaps have their money work harder for them by having a bit more leverage exposure so I think this is a trend that's that's only going to continue in this space and everybody was watching and saying oh Bitcoin's dead and now that it's come roaring back to life everybody's saying well wait a minute maybe Bitcoin is going to be around for the next bunch of decades and I feel that's going to be the case and I feel that dollar volume is going to continue increasing in this space as the popularity continues to increase as well. So according to a recent article by the Financial Times the Bitcoin's latest performance is mirroring that of classic heaven assets such as gold such as the Swiss franc or the Japanese yen so do you think that is because Bitcoin is finally becoming recognized as a safe store of value? I do believe so it's certainly not correlated to broader markets so when the broader markets go down people look for places to put their money and if we're seeing assets like gold or like Bitcoin not go down with the market and not seeing the same fear that's happening in the market which right now is not the case but when it does happen then people will put their money there and recently CNBC which is the big you know financial news network in the United States here they started to talk about that narrative they started to say you know Bitcoin safe haven and the more that people talk about it it's a self-fulfilling prophecy so the more that the media talks about it the more that people say it's a safe haven the more it's going to act like a safe haven and if CNBC which reaches you know millions of people is going to be pushing that narrative then I do believe that that will be the case. So the last question is more of a curiosity so according to data compiled by Bloomberg roughly 40% of all Bitcoin gains are actually happening during the weekend according to some experts this is because traders tend to trade more in the weekend because they want to get ahead of Monday news or also because banks tend to be banks are closed during the weekend and that's why it's easier for traders to move price in the market. Do you agree with some of these theories or you have your own? I'm focused on stocks the majority of the weekdays and I'm trading cryptocurrency on the weekend so it certainly makes a lot of sense in that regard and it's just people looking for opportunity and not having opportunity elsewhere they look to cryptocurrency over the weekend and like you said easier to move the price that makes sense as well and again going back to my stock experience we have pre-market trading and then the bell rings and then we have regular trading and when you're trading in pre-market there's less liquidity and it's easier to move the price in one direction or the other it takes less dollar volume to do that so that's potentially the same thing happening on the weekends where maybe liquidity dries up a little bit and if let's say 10 million dollars of buying pressure can go further on the weekend than it could perhaps on a weekday coin telegraph like subscribe and hodl