 Mark Twain said it best in his quote whenever you find yourself from the side of the majority It is time to pause and reflect and these are just the craziest times We talk about an impending recession and it was it's like a foregoing conclusion It'll happen But what if it isn't and what if we've actually already entered into a bull market? So let's just take a look at the possibility that we're already in a bull market moving forward Before I talk about that and talking about strange times you may have noticed that today Dogecoin took a little bit of a pump and the question is why did dogecoin go up so much? Well, there's a nice little tweet from Elon Musk as he was having discussion with chairman at WSBC chairman He said is a new platform needed just by Twitter and changes a bird logo to a doge And that's what you'll see if you go to Twitter right now. You'll see that the dogecoin logo Is up in the top of left-hand corner instead of the normal Twitter logo So does that mean that there's been new development as far as dogecoin? Does that mean that it's been really evaluated or put into some kind of big business and Is there for test transactions or just full transactions? No, in all honesty, nothing's happened So what does that mean for the price? Well the market cap is doing pretty good and dogecoin just went up 18% in 24 hours or 35% in seven days These are strange times and just be aware that just because something is pumping doesn't mean like it is the end all be all So to get to the point of today's story it comes out of this This is from Bitcoin archive and they said Bitcoin is just closed up for three months in a row This is signal to start of a new bull market three times without fail And I thought about this I took a look and of course that's right there, you know Three months straight and it looks like things are moving the right direction and I thought to myself Well, let's define what a bull market is and this is from the street a bull market as Defined by different analysis or analysts is a period in which stock prices on major indexes Like the S&P 500 or the Dow Jones industrial average are rising a time when the economy is growing Consumer confidence is high and people are spending an official bull market as a period when the S&P 500 increases at least 20% after two distinct declines of 20 So that got me thinking what's the S&P 500 doing because it all kind of comes out of this and we can see that the S&P 500 is actually doing pretty well for today, but that's not just what the bull on is It's over a time period. So let's take a look at five days looking pretty good And let's take a look at one month. All right, still pretty good Let's take a look at six months still doing pretty darn good over the last six months So if we go back here The S&P 500 Dow Jones are rising the next that would be the first criteria The second criteria is the official bull market is a period when the S&P 500 increases at least 20% After two distinct declines of 20% so for that we'll have to go out a little bit more. Let's take a look at a year So again time frames you can cherry pick and already want to but if you take a look at the last year So April 4th 2022 a year ago, you can see that we were at 4582 at the very bottom in June Just a couple of months later Roughly about 20% 19-20% somewhere somewhere around there. That's the first one August 16th 4305 and then to the base layer 3585 now that is not 20% It's some a little bit below that but we are pretty darn close So that might hit the first criteria and the next question was this a Time when the economy is growing. Well, if we take a look over at Ben site This is why I like Ben site because he has it broken down into crypto macro and equity So I steal as much stuff from him as I possibly can it makes my my job a heck of a lot easier Everything's right here. So the real gross domestic product our GDP It's equal to the GDP that is adjusted for inflation That's why I picked this one our GDP is an inflation adjusted monetary measure of the market value of all goods and services produced by labor and Property and specific time by certain countries in this specific example. We're gonna go with the United States and we can see that real GDP has been going up for quite some time 2015 18 19 We took a little bit of dip here in that thing called coronavirus Don't know if you heard about that was a big thing and then here We are at the tippy top and we're still going up So I find this quite interesting Of course, it doesn't all go to October what we see a little bit of a growth at the next part It talks about this consumer confidence is high So for this one I took a look at the Michigan consumer sentiment index This refers the overall attitude or feelings of consumers about the economy and their own financial well-being and we can see that We're not as high as say in February Which there was a lot of things going on then or over here in 2004 or in the good old days of 2017 when these are going pretty well or 2020, but we took quite a drop off Not too far away June 20 2020 like we just took a look like S&P 500 But where are we going? Well, the sentiment is actually going up quite a bit as of February 23 the consumer sentiment in 67 and then the last one is People spending So for this one I picked personal consumption expenditures What is that personal consumption expenditures is the estimated total of consumer spendings? PCE including how much is spent on durable goods products that do not wear out quickly and Non-durable goods products that typically last anywhere in less than three years as well as services So everything you want to think about is what people are spending on and again, they can see it here We've got a straight-up hoppy hockey stick and tell that time with coronavirus then a little bit of a Downward slide in November 2020. Now here we are June, July that it February 23 again Still going up in a line. So if I take a look at this And I say, okay Well, that would define the bull market But what Bitcoin archive is talking about is that it's just closed up for three months in a row so Again, if I take a look at these things Here's the Bitcoin monthly return tables and we can see that they are spot-on It has been one two three and I got to tell you for 2023. We've had some monstrous months Thank you for all the big for all the banks that are collapsing not good for people I understand but it is good for Bitcoin because it makes people realize that hey nothing safe So you got three months here and we take a look at 2022 There wasn't three months in a row So that wouldn't hit that criteria in 2021 remember that year. Oh, that was a good year What do we have here one two three And a little bit of a sly always action 2020 no 2019 we did have three months in a row actually five months in a row and it was a little bit choppy But this was a good year to accumulate I felt and of course going in 2020 nothing in then 2021 2018 2017 there was three April May June remember what happened 2017 to December? That was it's all time higher for that cycle And then the next one would be 2013 down here and then 2012 was kind of a little odd data But if you just take a look at what they're talking about It could be now does that mean without a shadow of a doubt That we are definitely in a bull run. That's all I'm saying But there is a case to be made That maybe we are in some type of bull run. Does that mean that I'm going to change My strategy and dump and everything right now me personally. No, I can't give you investment advice I'm not a financial advisor But I gotta tell you I mean every time that we think that things are going to happen a certain way Marketers reacts a little bit differently. So let me just think about that in the comment section And then also just as a reminder Ben sight recently I use it so much because it's it's well put together and makes my my life a lot easier So my favorite one is indicator summary and it just kind of takes a look at the risk level For when you can buy and sell crypto and breaks down my bitcoin and thermal like great stuff, right? Makes it very simple And it's also good Just to do your own research because the things that I talk about maybe there's something that you want to take a look at Especially with the macro environment or even the crypto or equities So I highly recommend it. I mean I use it every single day Right now he's having a sale and then with my link in the description you get 10% off for the first month So take that as you will But uh, thanks Ben for letting me steal your stuff. Anyhow, let me just say about that in the comment section And then it's not just about bitcoin. I know we talk a lot about bitcoin this channel But you know, there are also some good things going on In the crypto world like with algorand. I don't talk about that much. I own algorand So just so you know, I am also biased But this is a good article about how an argentinian airline They're using algorand for all of their tickets As an ft. I thought this is a pretty good idea to save money. So this what's happening Uh airline low-cost airline fly bondy is integrating web 3 and it's taking a process by issuing e tickets as nfts New integration announced thursday is called ticket 3.0. It's pretty good. It's a pretty good title I like that one The nft ticket technology built on the algorand blockchain allows passengers to change their name transfer or sell their nft tickets independently It offers more flexible experience allows passengers to buy in advance without having to define their travel plans Or who their travels which is pretty cool because if you you can't just go like southwest airlines Just buy a ticket for some time in the future. You have to actually pick the days And return the airline is able to reduce customer service costs and increase its revenue from trading fees again Great great way to do things because if you're using the old rails Uh, there's a lot of fees for that mastercard visa Companies do not charge a fee when users initially purchase a ticket But it does receive a 2% transaction fee when trades are made on the secondary market again If you go ahead and sell it and do whatever you want to do and that's just a free market Airlines also get a 2% cut. So again, algorand, which is incredibly inexpensive to use right now Is that mean it's going to be the next great thing? I don't know That's why I've invested a little bit into it, but I've also Done a little diversification for quite a bit of crypto. So there algorand might be a good one and then lastly just a Second to last I should say to finish this up uh Elizabeth Warren So I just wanted to put this out there because we did a video recently about Elizabeth Warren She's up for reelection in 2024 US senators they they get to serve for six years and they're up for reelection her original one was 2012 so What she was basing her campaign on Was an anti-crypto army and then she sat down with chuck todd and she was talking about Why she's so anti-crypto this has been in 30 seconds I want you to listen to it Because there's been some specific steps. I would like to ask you to take so just take a listen with bitcoin There's no thing that backs it up and and that's what makes it different. It's just belief you and I assess You assess the value is going to go down. I assess it's going to go up and therefore I buy so it's no so it's more like this artwork No, because at the end of the day, I mean that thing on my wall, right and I can enjoy it or I can throw darts at it Um, you could sell it for money. Sure. You can't I mean there are features about it that are the same, but it's it's not the same and look One of the things we have to remember about there are a lot of things that come within this crypto world So for example We could be talking about instead of bitcoin. We could be talking about digital currency now. That's something Very different. I think that's different too. I buy that. I accept that that's right because that's a government backed Um, uh electronic transfer and it can be denominated in dollars. It could be denominated in euros It could be denominated in some new language that's made up But that has something that backs it up. It has a government That says if at the end of the day, there's a run on this stuff everybody wants theirs out The united states government promises there will be something to back it up um And uh, that's what banks are about. There'll be somebody there to back it up but with bitcoin That's not a case and then so yeah, that's what you're going to deal with That's what you're going to deal with when you talk to people Who maybe don't don't understand it too well. I mean before we we really you know pile on Elizabeth Warren I just think that and I know people will say rob you're so naive because you believe in the In the best of people I do I just think that she is Horribly misguided because there's a big difference between what she's talking about and what bitcoin actually does So what I was going to ask you to do if you could help me out Is there is a website and it is called warren dot senate dot gov is a link in the description I think here it says share your opinion And what I'd like you to do is just to write to her and tell her why she is wrong on bitcoin digital assets if you need help Good news I've got something for you. There's this thing. It's called chat gpt. It's very simple I'll also leave this in the description And I just gave it a quote. I said hey senator Elizabeth Warren states that bitcoin and crypto is a fraud Use too much energy only used by criminals What can I send her and it just spits out this this beautiful way to say things if you're struggling with Trying to determine what it is that you want to like, you know really iron out the things use chat gpt Also, I'd like you to put in your own experiences with crypto But there was also one thing that I do like by chat gpt is is I can say hey give us a good counter argument A really eloquent one for what Elizabeth Warren is saying and you know, she said that everything is backed up by The government and it's so great. Well on the last part here. I love this how it spits it out I'm going to start in reverse And chat gpt says look finally the decentralized nature of bitcoin Means it's not subject to any to the control of any government of an actual institution Which can be a desirable feature For those seeking a hedge against inflation Or financial instability. I don't know about you But that is potentially what is happening in america and of course it also spits out some really good stuff Firstly bitcoin is a finite supply which of course we have a money printer and we just print money here in the united states america Second bitcoin uses a medium exchange So it actually has a purpose and a unit of account much like fiat And third like this one the blockchain tech underlying bitcoin is a range of applications beyond just currency Uh further enhances the value for example blockchain tech can use for secure data storage smart contracts and defi So if she wants to know these things there's a great source you can use if you're a little bit stumbled Just use chat gpt and finally so we can get out of here. I just want to recommend a youtube channel It's david lin and uh, he was a former anchor over at kit go news And he started up his own his own channel and it's really great and the the the most recent video he did The stock the stock that beat every recession the last 40 years might watch it can't recommend enough I'll just give you a hint the things that people buy in a recession Are things that they need every day the staples and he talked about how one of the big things to buy Walmart as the stocks gold and i'll add in bitcoin So i'll link that video in the description go ahead and give him a follow and check him out But that's it for today. So look if you like today's video, give it a thumbs up consider subscribing Everything we talked about is very time sensitive. So it'd behoove you to sign up and subscribe But that's it for today. Thanks so much for stopping by appreciate you and i'll see you in the next one