 Welcome to the last set news the guitar stories and crypto current digital assets and break them down to bite-sized pieces today Pretty interesting stuff first up investment manager Guggenheim states that bitcoins parabolic rise Becomes Unsustainable and this is what we've seen right now with the crypto market as Bitcoin has tumbled below 40k Into between 31 and 32k, but the real question is why is Guggenheim saying this now? We're gonna go deep into possible manipulation and other types of prospects of what Guggenheim is potentially doing also great news 2% of Ethereum supply is now staked in Ethereum 2.0 deposit contracts And we're gonna take a look at what's gonna happen with the theorem as time goes on and will this affect the price also an international news PayPal completes go pay acquisition Allowing the payments platform to enter China and the real question is what does mean for crypto currency? Specifically Bitcoin Bitcoin cash of theorem and Litecoin as they are on the PayPal payment system and finally at a cautionary tale It's not how much you make it is how much you keep this is a great story of a crypto user loses over a hundred thousand dollars in Bitcoin Well transferring his wallet and this is what you absolutely must not do so we'll go over all that but first Let's take a look what's going on the market today. It's kind of crazy. Let's just be honest right now It is at January 11th 5 45 p.m. El Paso, Texas time and we already did a video Earlier today where I talked about, you know, it's okay Just calm down because this is normal These are actually these dips that were that are occurring are something that are actually pretty much baked in to every type of Bitcoin and cryptocurrency bull run. I'll link that video at the end But we actually take a look at different wavelengths and a little TA which I'm not really used to but There is a compelling argument for all the things that were happening in 2017 are repeating again in 2021 But to a lesser extent so what do we have right now? Well, Bitcoin was down about 23% 24% some around there and now it's only a measly 8.5% So when you look at this you see a lot of red you like dang I don't like seeing that that sucks, but I need to put an in perspective for you First of all, you don't lose anything unless you sell and second of all just two weeks ago Won't be like at 20 grand and now we're at 34 35 thousand dollars and people for Bitcoin now people and people like what the heck This is a sham this whole thing now. We're in a bear market. I'm like are you out of your mind. These are called pullbacks These are healthy. This is no big deal if you're in the traditional market. I understand and if you just came in welcome But 20% to us is just a brisk morning walk on a Monday. It's not a big deal now in the traditional market might want to You know think about jumping out the window, but that's not how we do it here We have ice in our veins and we're just a little bit more stable than that So just be prepared because you're gonna be a lot of volatility. So Bitcoin just below 35,000 But again, it's up 10% for the week. Can't beat that. Ethereum is back over a thousand even though it's down 15% So pretty darn good. How does tether nobody cares? XRP watch out. It's almost peg of the quarter again back to my joke like coin down 20 I mean, let's just I don't even know why I'm going over this everything's down except for What else is up? Absolutely nothing avalanche. I have no idea what that is. I don't know any of these things actually I don't know. I don't know this stuff, but I will say this as we go down. I don't like to go past the 50 mark. I mean if you've seen my my channel I really don't pay too much attention to the up-and-coming type of things because I've only got so much time in the day But there is one project that has always caught my eye and I've always kept tabs on it See all these in red. We've seen nothing but red not red red red bite. I don't know if I Void your token void your token today was up by 30% 30% it was up. So right now. It's up again It's at 51 cents just so you know it is around a hundred and eighteen hundred nineteen on the position and it was actually like 284 just two weeks ago and this project is hitting up massively just like Celsius token And in over a year, it's up sixteen one thousand six hundred eighty four percent thirty day fourteen day seven day It's up fantastically and even in this huge pullback. It's going up. Why? That is a question that I have put together for a video tomorrow if you have watched my 2021 predictions I am very conservative Bitcoin I said as me about a hundred fifty K a theorem is at five to ten K and they didn't make like anything wacky crazy type of thing polka dot I said, you know Maybe 2550 somewhere on there and everything was pretty conservative except for this one And there's a reason why I put voyager at thirty dollars and you can watch that video link at the end But I will go into detail as to why this token Which is attached to the voyager brokerage account Which is like the hotels calm and why it's going to be massive this year not only massive massive upon massive And I'll break it down later, but that is what is going on in the market. So let's jump into today's top stories first up Guggenheim, so this was pretty interesting because I remember this guy came on the CTO Scott Menard. He was the global chief investment officer. Excuse me, and he came on to one of the one of the Rags CNBC CNBC I don't know which one it was but he said that Bitcoin was gonna go to 400,000 and it's a blew everybody away. They're like what? And when when he was there, he said, yeah, we've already allocated funds to purchase Bitcoin But we're just waiting for some regulation clarity and we're looking at 10,000 and you know, maybe 20,000 And I think what happened is that they got cut short because this was I should really read the article But in the actual presentation or when he was talking to these people It was in December and they didn't I don't think they thought that it would go up to 40,000 like this and I think what he's saying here is like whoa this one up too fast. We need to pull this train back. So Scott Menard see the CIO They've got 230 billion assets under management. So they're not some small-time fry company He put out a tweet. He said bitcoins parabolic rise is unsustainable in the near term Which is pretty interesting to note near term. We're talking about like it could be weeks could be months He's not talking about one five ten years The the rate of which it goes up He's already said it's going to 400,000 and it's gonna go to that very fast, but near term That's what he's talking about. It is vulnerable vulnerable to a setback with target technical upside of 35,000 has been exceeded Time to take some money off the table and that's the interesting part because when he said this this was on Sunday night and What happened on well today Monday? It dropped dramatically and now we're at 35,000 so pretty interesting type of thing So you can look at it two ways and that now I'm gonna go into that right now One way you can look at it is how these Twitter people or Twitter posts said it They said hey take some take some off of the table so you can scoop up some cheap coin Nah said one person you're not getting my Bitcoin nice try and a third one said you must be new to Bitcoin Another Twitter user chimed in says hey everyone reading this needs to realize that Guggenheim has not even bought Bitcoin yet They're still waiting on the approval from the SEC their ability to buy grayscale trust Doesn't take into effect till January 31st and again when they did this when they put out this when they were when when Menard was on that show and he was saying yeah, it's gonna 400,000 They didn't have the full authority to actually buy any Bitcoin So when he said that I think maybe you shouldn't have said that because it's kind of a goofy thing if you're an investment company Don't you really want to buy low and then sell high so that's kind of what happened but here we are and That is the truth. So they can't buy it right now. So maybe this type of Comment might be a little way to pull things back and this another quote from Alex Krueger trader and economist Sure, he says Guggenheim's SEC find your best in Bitcoin and be a grayscale Bitcoin Proposed falling would become effective January 31st seems Menard wants to buy 500 million in Bitcoin and as the price runs higher. He's now telling people to take profits and This is what it comes down to in December when he had when he was on think it was CNBC He states we made the decision to start allocating towards Bitcoin when Bitcoin was at ten thousand when I heard that I thought oh, they've already bought it But what they've been doing is they've just been saving like hey, we are going to buy it But we need to get the SEC approval first And then he states it's a little more challenging with the current price of 20,000 Nonetheless Menard stress that his firm will be buying Bitcoin and predicting that the crypto will reach 400,000 So again, so I don't think they thought that yeah, it's 20,000 now in December It's it can go like 20 to 25. Okay, cool. We're okay with that just buying one at 25 that the most They didn't see 40 and then when you know 40 look it was a 42 it could have been 45 and 50 Do you think these guys will want to buy it that high? They don't want to do that. So whether he states it for a Manipulation type of thing is very debatable. I don't think that you can really move the market that much if you're just one person Tweeting but who am I to know who might I say what do I know anything? So it's just an interesting concept, but right now there's a lot of people taking profits a lot of people who you know one Whale or so takes a little bit of profit one another person sees that and goes I want to take some profits Then you got two big people taking profits and he got some other people get spooked and before you know it It's a chain effect. This is a very small market. I mean one trillion isn't that big of a market And remember Bitcoin dominance is around 70 percent. So 30 percent looking at 300 billion is all throughout the all So we're looking at 700 billion for for Bitcoin So it doesn't matter that there are these institutions, you know, doubling everything up There's still a lot of Bitcoin in the hands of people like me and you who can get spooked and can sell now I would recommend you do not sell and just hold on to everything But these things happen and when people talk about stability, I'm like now it's gonna be it's gonna be very volatile That's just how it is. Let me change the comment section. Let's move on to our next piece next up So 2% of Ethereum supply is now staked in Ethereum 2.0 deposits, and I'm like wow 2% watch out And I don't really care about the whole art. I read the whole article is boring So what it says here is data by on-chain analysis Crypto quant shows that e2.0 is growing more and more decentralized Currently holding 2.29 million locked up ETH, which represents 2% of the circulating supply. Watch out That's a boatload. So here's my thoughts The more you lock up because when you lock up Ethereum for staking It's not like you're locking up for a day or a week. It could be years multiple years And that's just how it is. So that will take everything out the table and they don't have to worry about that about we can selling That's good for them. So I think that is one positive aspect as they move towards Decentralization and also towards staking because right now it is all proof of work for Ethereum Now that is great to see. I have when I've read the whole technicals of how to stake I was like nope not doing it just I have not doing it first of all I'm not gonna keep my Ethereum locked up that long because I'm not missing this bull run this bull run If you look at the cycle, it's always every four years if I lock up a three for two years Well, guess what I can get it out during a huge dip not gonna do it So I mean maybe if you want to if you want to support the the the network That's fine, you know put a little bit away, but for me personally, I'm like now I'm not doing and it's it's a pain in the a I I looked at it like no way. So if you know Cardano also you can stake it and they have been staking 69% of its circulating supply. Let me say that again 69% of its circulating supply is staked. Here's why first of all super easy to do if you over at bandheeduscrypto.com And it's click on ADA staking or if you just go right to the link there's a link in the description will take you right here If you click on wallets It'll go down here There's a handy-dandy 13 minute video and explains exactly what staking is and how simple it is and how you can use these three wallets To stake your cardano, and I gotta tell you it is like super duper simple And they made it so easy that I mean even a caveman can do it, but seriously I mean, it's it's it's simple. It's easy It's also you don't have anything locked up and that is what that is a positive and a negative because one you don't have anything Locked up which is good for you, but with aetherium as everything's locked up That means it's off the table totally so in that regard positive and negatives But however, I still think it is a positive for cardano and they made it like I said just so simple with With both of the wallets and I don't know what's gonna happen with it with aetherium I mean, I think it's gonna do quite well probably the thing is that the fees are through the roof right now as you know But they're working on fixing that so let's hope that actually happens But who knows they run into delays all the time. I will just say this with cardano One of the big things that's hindering them is the lack of smart contract functionality but as you know the Gogan area Gogan area the Gogan era is is coming about which is going to lead to smart contracts with cardano And that is reported to be going to be in February 2021 That's what it says here on this article and it says according to roadmap. However, when I look at the roadmap I couldn't see specifically any dates for the Gogan smart contract, but that's just what they say So I it'll be interesting to see which one wins. That's why I hedge my bet I have a Lot into aetherium and I have a lot in the cardano because I know one's gonna be great And one's gonna be awesome, and I don't know which one so I hedge my bet So let me know what you think in the comment section to move on to our next piece next up PayPal completes go pay Acquisition I pay his platform enter China and that's the whole thing. There's I mean, I could read the whole article But it's the same thing like 10 times. So this is interesting interesting to me because China is kind of anti crypto. Let's just be honest I mean they're they're they're pro miner and they're pro blockchain But they are not all about cryptocurrency because it competes directly with their digital you want So the thing that I wonder here is that if PayPal is gonna be in there I wonder gonna be stipulations against them where you can say PayPal you can come in But you better not sell Bitcoin Bitcoin cash of theorem or like or anything else that you want to put on there to our Citizens because we have total power. We are a communist country and that's just how you're gonna do it It doesn't say anything about that in this entire article, which is kind of a bummer So we are we are led to speculation. However, I will say this China as some Subscribers have told me is an all powering entity and they pretty much control a lot everything over there It's it's pretty much locked down and they've locked it so so much down I don't know if you know about this this guy Jack Ma. He's the founder of Alibaba multi multi billionaire and they made him disappear like that and The reason was is because he gave a speech where it was pretty much anti-Chinese government and all of a sudden gone just disappeared For two months and I just want to score this little piece real quick that this is how powerful China is This guy's multi billionaire I mean does whatever he wants except in China and Insiders hold the post it's highly unlikely that Ma 56 has been permanently disappeared to one of China's feared black sites Reserve for the country's dissidents nor is he in Singapore per some rumors. So I didn't know there was like black sites But it stands the reason because it is China So when people complained about America here and there remember where you live in because there's a lot worse places Instead, he's probably cooling its heels with their home or in a very cushy location Where one expert said he may be reviewing Marxist lessons with party officials a process called Embracing supervision again had no idea about that. Now, you know and now you can't unknow that today's financial system Is the legacy of the of the industrial age Ma declared in the now Infamous speeches want to talk about that pretty much poo pooed all over the Chinese government He states we must set up a new one for the next generation and young people. You must reform the current system Ma's wings were abruptly clipped. He vanished from the public eye and IPO that is his his company his initial public offering was canceled Reportedly at the behest of the Chinese president Xi Jinping and China has launched an antitrust probe into Ma's enormous company Basically, they're making an example of this guy like you got too big too fast and we're gonna bust you down now antitrust laws are also coming for Facebook and Instagram while they're subsidiary Instagram and also WhatsApp So it's like it's like that doesn't happen but to make somebody just like disappear and start to embrace, you know Blacksides and you know that that's crazy. So when we talk about PayPal going over there. I'm like At first I it sounds awesome, but I just don't think they're gonna allow cryptocurrency. Let me know what you think in the comments section Let's move on to our last piece last up This was scary and I want to bring this up because this is gonna be a big year 2021 I've always said it's going to be a big year It's there. We're gonna have peaks and valleys. We're gonna have some pullbacks We're gonna have massive runs and it's not about what you make. It is what you keep I've already talked to somebody who has been scammed out of a large part of their Holdings from their atomic wallet I'm going to have her on the show this week to explain what not to do Basically, don't give away your mnemonic phrases and then we have this story which I'm like I'm still flabbergasted after this Mike. Who does this? So this is what happened. I don't want you to do this So crypto user known as onar claimed to have lost 2.6 Bitcoin and if you believe what we just talked about Menard was talking about from from Guggenheim That's gonna 400,000 You look at a million bucks you just lost From the transfer of his wallet to a new computer acquired during the Christmas holidays He wiped the hard disk of this is what's weird He wiped the hard disk of his old computer, which he wanted to use only for work related matters However, he didn't check the password manager He used to store the passphrases needed to access the wallets private keys On our detail that he had already encrypted backups of his private keys on two USB drives Stored in separate locations He then plug one of the USB drives into the computer to verify everything was working and it didn't work That's what it was Although the crypto user admitted that alleged of alleged advice would be more convenient than the way he was doing it He believed it was it wasn't unsafe and he talks about some more stuff, but basically said hey, it's my fault I screwed up So this is the thing password managers and putting things somewhere else and putting on your phone or putting on your hard drive is dumb Don't do that. I mean you can encrypt it and go through all this stuff But if you really technical do what you want to do me personally What I do is I write them down in this thing called a stone book if you haven't seen this. I'm sure you have you've been on my site This is what I write down all my mnemonic phrases. It's a very simple book. It's made from stone So both the last of lifetime will find out tear oil water resistance and it actually saves everything You can use this cool James Bond pen and it's pretty cool I just like is it's all right there and if you know my story I lost 20,000 Cardano recently because I had a month I had I had all my my mnemonic phrase on different slips of paper that I put I thought I put it in the right place and Just wasn't there. It's gone. So that sucks, but this this happened, you know back in the back last year And that's just how it is. So I actually have two shield folios I have one here one is my safety deposit box. So if my like my home burns down or something like that I've got a backup, but if you want something like that Dan you just get 20% off. It's in the description below and that is it So that is it for today. I know it was a bit longer side for the news But I just want you to remember a couple of things first of all, this is gonna be a big year we are prone to pull backs between 20 and 30% and If you believe in the four-year cycles and where things are going then this is a much different year This isn't 2017 where everything was built on hopes dreams and vaporware and white papers. This is a lot different I think it's gonna be a big year and That's really all I got So thanks for watching if you like these types of videos it'll be two months gonna pop up on your left and right Now for sure let YouTube do their magic and that's all. Thanks so much. See you on the next one