 Great one visual asset news to get top stories and crypto bring out a bite-sized pieces today We're gonna get away a little bit from the news news because we're being we've been bombarded with news Because of this Bitcoin conference in Miami So what I do is I want to step away and just take a look at the look of some some on-chain data Just to see exactly what's going on in the background So we'll take a look at a couple things first one take a look take a look at the short-term concerns that I have and There's a metric that hasn't happened for over a year, which is kind of concerning to me Also, we'll take a look at of course the positives to see where we're going And lastly I want to talk to you about an interview between Roy Neeterhofer and Kevin O'Leary on KITCO news and it was it was pretty good And it really brings home a lot of those concerns that we have in the macro sense to kind of alleviate some some fears And lastly, we'll just do five questions five quick questions in five minutes at the very ends Hold all your questions till the end. We'll get to those very quickly First let's take a look at the market and actually first first. Let's address something the elephant in the room Yesterday's video. I went over and talked about Tesla and how they're partnering up with block to do Bitcoin mining Of course, Tesla's gonna do the photovoltaic panels For solar panels. So it's a hundred percent renewable energy anyhow It's a decent video that we did yesterday But I got a lot of this because now that I'm from we went from Puerto Rico back to our house here in Texas people like bro That green screen is awful. That is why do you use a green screen? You don't need a green screen. Just use something else I'm like, this is not this is this is it's not a green screen. This is actually my house So I so if you're gonna talk about it in the comments, it's not the green screen It's just this is my place that I usually work and also stream for so over that clear something It was just an annoying thing that I kept getting again and again and again Anyhow, let's take a look what's going on the market. Shall we so today? Saturday morning here a beautiful day in Texas little chilly Not the beautiful weather that we get in Puerto Rico Puerto Rico is great every day It's the same temperature every single day. It's why I love that place but here little chilly and of course we're also chilling down in market cap, so we're at Roughly just above 2 trillion. I think we're gonna break that 2 trillion mark I think we're gonna go lower. I think that's gonna happen on Sunday We always see a Sunday dump or maybe even a Monday dump, but it's not looking too great Is that the end all be all and just the awful news if we break 2 trillion? No, not really It's just par for the course. That's what's going on. Bitcoin's down. Ethereum's down. Everything's down Let's just say it is sucks near protocol after that monstrous run just took a big dump Over 24 hours. Yes, that's how it goes in crypto so again Don't get too stressed out these these are just Small concerns one in doubt zoom out, but this is what we have for today So let's take a look at what I call the short-term concerns. So first of all If you haven't heard me talk about this every so often Ben from in the crypto risk got a great website and he goes over a bunch of different stuff And one of the things I'd love to show you is called this tab called risk and he breaks it down into how long Bitcoin the entire crypto market stays in these risk areas between, you know as 0.0 to 1 and It's it's interesting and I can't really show it I can just tell you that right now the risk level is a little bit lower until I can tell you Because we're in this kind of range and if we take a look here at the actual this is his logarithmic Market cap and trendline Well, it's great about the what the site is that you can just click on watch video and he explains exactly why this is but just so you know Right now kind of a little concern to me is that this is that for the different bands that he has What's what's back up to today 8th April? I think it's 9th of April, but that's as close as I'm gonna get Total market cap is 2.02. We just saw the fair value is 1.56 trillion so that is what it is lower band. It's 473 billion upper band 9.6 We got a lot of ways to go between this in a lower band But it is just one of those things like if we're gonna take a look at the for the fair value and again It follows this formula bends all about that and he explains that this is the fair value right now So we are a little bit above it also what's a little bit concerning That's what I use for the thumbnail is This very first metric from crypto-quant. I like crypto-quant makes it easy for me because I like easy I got a lot of stuff going on. So if we take a look here, this is all miners Bitcoin miner alpha meaning Our miners selling so I want to blow this up real quick And this is miners and their sell-offs. So we saw a little bit of a of a nice trend First of all, this is the the price itself in black For Bitcoin see as it goes down and you can see like as it starts to go down You see a bit more miner selling off right but then see this right here this big green strip This hasn't happened that high Since all the way back here in February Yeah, actually first of March roughly when it was then before that was February, but now was in 2021 So we're looking at a whole year between this sell-off Which if you've been in the space for a while, you know as as these miners if they are starting to sell off It's not a good indicator. However, it has reduced in the days since 1st of April to normal level So maybe it's just one of those off things, but I don't believe in coincidences, but I gotta tell you this again When in doubt zoom out. So we just take a look at the last year So it looks pretty stable except for these two these two points right here Let's back up Let's go to 2017 Actually, what is this? Jeez not even that Look at this. Look at this outflow. I think this was when the Chinese Band hit correct me if I'm wrong summer 2020 and then also there was a big one here January 2021 And again February was pretty darn high. Let's go even further real quick. Let's take it all the way back to the beginning You see how ridiculous this looks now But remember back in 2011, I mean Bitcoin was like what was the price? Two dollars That's hilarious and then over here in 2014 pretty big spike Bitcoin was six hundred twenty seven dollars So again, it is concerning though if we if we just zoom in which always it is There's a lot of sell-off going on for Bitcoin miners also on top of that We take a look at the longs for shorts. This is From coin glass comm and this is on you can take a look at all the different exchanges Binance FTX digit durabit, whatever else and this will fluctuate. This is under the five minutes Let's take a look at 15 minutes and you can see that shorts in some places over an hour Over four hours Tend to make a little bit more of an in of an in road now We take a look at 24 hours. I think it kind of evens out But you can see there's a little bit more on the short side. What does that mean? That means that people don't have a lot of faith in the short-term Functionality or the short-term price action of Bitcoin and I will just say lastly these are total liquidations One is this going back to 9th of January and over the last four months or so Just taking a look at this greenish longs Red are shorts. These are the ones that got liquidated. Just taking a look at this and we've talked about this before Which one do you think has done the most profitable over time? I Don't know if it's profitable per se, but I can tell you the shorts seem to be getting the last laugh on A lot of different occasions and I know when I talk about Leverage positions I'm always critical of it. But in all honesty, I've had a lot of people behind the scenes go Rob I've made a boatload of money shorting Bitcoin on the short term now. I believe in the long term, but short term I made a ton of money. Well, I Can't fault you for that because that is the game that we are in correct And then also going back to crypto quant speaking of that same thing If we take a look at Bitcoin estimated leverage ratio The ratio everything anything above 0.2 is considered extremely high Extremely leveraged positions and you can see like, you know from 21 2020 it was around let me blow this up so you can't see this. Sorry It wasn't that bad. I mean here in 2020. There was a bit 0.1 a and you know 0.09 0.08 not too bad, right? This time has gone on 0.17 and we peaked at 0.2 November 2021 and then it seemed like things just kind of fell apart didn't they around December January And then of course the ratios go down because people got liquidated and now look what's happening again. We peaked out 25th of March 0.24 again anything above 0.2 There's some heavy heavy leveraged positions and if we go right now to roughly today We're at 0.244. That's almost an all-time high for leveraged positions So again, I'm not gonna say that leveraged positions are like the most awful things of all time if you're making money Congratulations, it's just that it just leads to a lot more volatility, especially for what's going on And just be careful out there. She lose a lot so that other things that concern me right now, that's all so That you're right, that's a bummer but Let's take a look at some positives, huh? Because right now in the short term, no We know what's gonna happen the short term tomorrow I mean we can get a big announcement some kind of new partnership on a Sunday I doubt it though and Thanks to turn around but in the short term doesn't not looking too good Chartologists sound off in the comments section, but let's take a look at some positives. So the positives themselves I took a look at this. There's a great website It's called look into Bitcoin and you can break down. There's a lot of different charts a lot of great things Pycycle top and logarithmic regression and a lot of great things But one of the things I like to look at is this wallet sizes and if you can blow this up So right here Wallet sizes greater than one Bitcoin. So if you are striving to make one Bitcoin There's been a lot of people who've actually hit that metric. So if we can take a look here Actually doesn't really matter. Just this is Here's the price of Bitcoin in the Navy blue and here's the wallets that have over one Bitcoin 533,000 in 27 November 2016 if we go over here Did you know that we are at an all-time high of wallet sizes that have one Bitcoin 833,000 as of 8th of April 2022 that's yesterday. I mean it's a month today today. So look as far as like the things that we were supposed to do we're not allowing a lot of Concentration of whales to accumulate a ton of Bitcoin. We're doing our job. We're dollar cost averaging We're picking up Bitcoin here where we can and we're at an all-time high of more than one So but let's take a look to be fair Bitcoin wallet sizes more than 10 Bitcoin and in actuality that has gone down. We peaked in 2019 and we're actually well below that all-time high also take a look at more than a hundred Bitcoin We have flattened out Since 2017 and actually maybe the weak hands are some people that are whales and going down again And again, of course people will tell me would Robby understand, you know You can have multiple wallets and you can just break them up in a 10 10 10 10 Yes, you can but for like the super whales, they're not going to do a ton of that So I would just say I still think that there's a lot of people with one Bitcoin And also Bitcoin wallet sizes greater than a thousand and we had peaked at that point 2021 and then look at this though. I don't know if this was dope one Luna But look at this big spike people talk about us at length before so it is what it is But still we're not an all-time high. Also. I like to take a look at the hash rate So miners were selling off In actuality That could be a good reason for that If you're using a ton of electric power Whether that be however you get that if that's hydroelectric well, you know, not too bad But if it's some kind of fossil fuel Maybe you have to sell off just because the prices are getting so high for electricity But regardless if we take a look at the hash rate over time We are almost at an all-time high meaning that all of those Bitcoin miners that are out there So like, you know what we got some pretty smart people smart pretty smart people are investing We think Bitcoin's gonna do well. We're gonna be out there. We're gonna turn on those rigs We're not gonna turn them off from a turn them on and we're going to produce a ton of Bitcoin and throw our hat in the ring to see if we can actually Burn those make our create Bitcoin From the mining process and you can see here it's gonna come in here Roughly almost an all-time high so again when I take a look at this I'm like that's looking pretty good and then that would lead me to my next point So well actually let me just recap real quick So I know like in the beginning we have some concerns in the short term We take a look at the long term. We're doing what we're supposed to do people are acquiring It's not a big concentration and even though the miners are actually selling off I kind of I guess it makes sense because I mean the supply chain issues and the different issues with Fossils, I mean oil and everything else for electricity use they probably have to sell just to cover those costs. So I get it But I think in the long term I'm gonna be okay Anyhow, let me know what you think about that in the comment section and this next part really will sum it all up and leave you with a little bit of a A little bit more positivity in your outlook. So this was a great Video on Kikko news this right here this gentleman here is Roy Neeterhofer And if you don't know him, I'd love to have this guy in the show. He's like a Bitcoin og He's bought Bitcoin in 2011. He owns capital management for Neeterhofer capital And he's got assets under management of about a billion dollars pretty Pretty smart guy when he's talking and it was it was him the hose from Kikko and Kevin O'Leary Kevin O'Leary just spouts off some some random stuff Nothing again about not the negative about Kevin. He's a smart guy. He's you know Made a ton of money good for him But there's a couple of things that Roy talked about and I'm not gonna play the whole video But the big takeaways Was he said that he has an Ethereum mining plant? I think it was New York I can't remember but he uses a ton of Hydro and he also has to cover the cost for the other parts for electricity and he said that right now To to turn those rigs and actually make things profitably goes It's very tough because the price is going up so high for all electrical use So he says this this ESG issue that's coming about he goes we're gonna go way more to hydroelectric and we're also gonna look into Nuclear and I think he's something else. It wasn't solar, but I was like this makes a lot of sense To why we just saw Tesla team up with block, which was all formerly called square, which is Payment processing type of of business it's also Twitter's I guess they were they were kind of together block Jack Dorsey's company, but it makes a lot of sense of why they went into Solar panels because the cost of electricity and they'll probably go up over time So he talks about that I talked about that and he said he said you know He goes and I linked in the descriptions. You can watch the whole thing It's an hour long But the one of the bigger things he says he goes look there's an ESG issue with electricity and crypto I know I keep harping about it, but I think it's gonna be a big issue going down the road He goes, you know, do you know what the carbon emissions for the whole Bitcoin network is globally? He goes that's one five hundredth of all the carbon output and he said actually he goes gold production is Four times that amount. I know like with electricity terawatts terawatt hashpower or terawatts For electricity, it's almost equal to what gold uses, but it's four times the carbon output So he says he goes there is a big advantage especially with being the most secure Computerized Platform in the entire world. He goes. I think it's gonna actually do very well anyhow So he talks about that, but this next part is I think one of the big concerns that a lot of people have which was regulation and over regulation and what if Certain countries the United States included comes out and says hey We want to ban Bitcoin or we want to shut things down or we want to really really clamp down on these exchanges and Kevin Kind of leery is like no that'll never happen because there's too much money, which was which was my stance too I don't think they can ban it because why would all these politicians and even the president ban it because A it's job creation and B They can tax live in tar of it and guess what politicians like taxes, so I don't see why they would do that But Roy had a great response and I'm gonna I'm gonna let you listen to it It's about 45 seconds to a minute. So just take a listen to what he's got and let me Let me stop that Let me share the actual tab so you can hear it And let me mute myself To the price. No, I think there's always a chance for a ban. I Absolutely think there's a chance that Bitcoin could be bad Look the private ownership of gold was banned in many many countries including the United States So could it happen? Absolutely However Were that to happen? it would be such an environment of chaos and hyperinflation that Bitcoin would be worth even more money at that point if they're gonna ban it It's going to be the time when you absolutely want to load up on Bitcoin because it will only be in such a chaotic situation That the only thing you can transact it is Bitcoin Yeah, pretty great response and that's something I never really thought about I mean we think about the vacuums But that makes a total Total sense of what he said so that goes and concludes today for the show So look, thanks for stopping by I do appreciate it fight days video I give a thumbs up all consider subscribing and lastly I just want to bring to your attention that if you're in America There is tax time is coming up and I know it's a little bit hectic For some people to get everything together, but there's still hope There's still hope what we want and that is crypto trader tax. I used it. I just had a counsel with my My CPAs in Puerto Rico and the one here in taxes And I got to tell you without crypto trader and all the different trades that I did last year It would have been an a nightmare So the time that I set this up Got it already sent over that my my CPAs it took about 30 minutes. You can do this too. It's super simple There is a link in the description. It looks just like this There's a 20% off and also there's a how-to video right above it So definitely check that out. Don't worry about taxes. It's not gonna bite It's gonna be painless just use that program makes it super simple and that's it So look that's it for today Let's get into five questions in five minutes and we'll get out of here. Enjoy the weekend Shelby. All right So here we go What's the first question? Jump in the pool. Let's go. You know what? I'll jump in the pool. I'll jump in the pool when Bitcoin is a hundred thousand We'll go from there right now Dan have you removed loop ring education kind of a yeah, I've used loop ring. It's quite easy to actually It was supposed to be one of those To reduce the amount of fees that you have and it was a pretty great Process when I use it. I bought a little bit. I sold it after a while. It was just one of those things When are you coming over to Puerto Rico about about three months or so? We'll be down there. So yeah Question number one This is a good point Emerging tech threatens old status quo money. They hate it. Yeah, they do But there's always a pain process, but they'll get it so people will get it and I think You know some I was thinking about this today, you know, some people they're really worried about institutions coming in I don't know why because did you realize that all of us? Retail, that's all we were retail. You watch the video. You're probably retail you front Front run front ran all these huge institutions met all of them We need in front of a micro strategy or some you did But you front run every single one out there almost to get to the position that you're in right now So can you imagine? When the institutions come in which is through regulation so they can actually clarify what crypto is is it? Is it a currency is it a security is it commodity? I think it's commodity myself When they come in they dump all this money you'd be like, haha, and you can buy my bags just something to think about Let's see Do you still need to count if you use a tax website? Yes. Oh, I will show you one thing though, which was I didn't know this Some people do actually I shouldn't say like yes some people do because I have a couple different corporations So like I need to I need a CPA to figure that stuff out. I'm not good at that stuff So and just less time for me, but there was one thing with crypto trigger, right? They're a turbo tax partner. I didn't know that so have fun So if you can you know a turbo tax if you just want to implement it there you go Great question question number three Currently DCing in or waiting on the silence DCing every single day. It's the same buy. It is Bitcoin Ethereum Solana Luna and cosmos cosmos Because a lot of different things are built on it. I mean crypto.com there. They're a crow token That was built on Cosmos so there's a couple different ones So I like it What happened to someone creates a better store of value than Bitcoin isn't even possible it's tough because it's all about trust right like Bitcoins the first and it's been around for so long and people like say, ah, it's an old archaic thing It won't really come if it'll it'll get kicked out just like just like you had a Friendster and then you had Whatever the other the next social media platform was and then Facebook came along and now Facebook's being phased out I don't think that's it's really how how it's gonna work I think if there's a store of value that comes along and you have the maximum trust, but here's the thing To make this type of decentralized network that is has never been hacked And it's super secure. It will be very tough to follow. So that's good Napster, no, I See you've been indoctrinated by James and Solana brainwashing Look man, James makes a lot of sense on Solana and it's not like well, here's the thing How do you know Solana is not gonna make it, you know, like maybe Solana flips Ethereum? I don't know. That's why like I own then and it's that's not a If you should ever get emotional, but that was a pretty funny one I own it so all the L ones I own a theorem and I own avalanche and I own tasos and I own Cardano, and I own Solana and I own polka dot because I have no idea and even like as smart and as Influential and the inroads that Kevin O'Leary, Mr. Wonderful has in that interview even he's like dude I don't know what's gonna be the next big thing He goes so picks and shovels. He goes, I don't know which one's gonna win. I don't really care I'm just gonna own a bunch of them and then just write it out. I'm like that makes sense. Let's do that. So, yeah Yeah, Solana's got weaknesses It's been down for a couple of times That doesn't make me happy. I mean I own that stuff. I own a lot of stuff. I don't want anything to And you know what if your crypto makes it good the good good for us, right good for you If I don't want it well, I mean missed out But I missed out a lot of things. I'll still miss out on more stuff Yeah, and Kelly even talks about healing, right? I know this isn't popper, but I see P's a layer one sure I don't I don't know Every time I see that I always think insane clown policy like oh no internet computer. Okay, and then last one. Oh Well, that's what this is a good comment Warren Buffett will disagree Warren Buffett also will disagree on Amazon He passed on that and actually made fun of Jeff Bezos At a meeting or at a conference Where Jeff Bezos was talking? It was a great story that uh when I had Scarimucci on the show he told me that he almost invested in Amazon When Bezos was talking at this conference and then Warren Buffett stood up and said Well, Jeff here seems like a nice guy, but I can tell you that his business is going to go Bus because it doesn't do this and this and this and I would never invest in that. It's just trash And that was Mucci's that was that was Mucci's Story, I'm like geez that sucks Which is the same thing I think like this certain people will downplay bitcoin And they there's so many people have missed out on massive gains over the last five seven years eight years nine years ten years So whatever else so Buffett He will pass on amazon and the googles and and a lot of different tech companies understand it That's okay. You don't have to be great at everything like me. I missed out on a ton of nfts I don't understand nfts that well, right? But I will not miss out on the next play to earn gaming structure I gotta tell you if you're just sticking around I got a secret not a really secret But a little thing to share with you. So on my second channel. Well, it's called Dan clips. We're going to rename it pretty soon Used to be clips. I've got three great play to earn games coming out I can't tell you what they are but I can tell you the graphics are great And one is well, they're mobile first of all One is super simple even your grandmother could play it and it I want you to think about The biggest game on mobile in 2013 I can't tell you what it is, but I can just tell you that that game Has been the intellectual property rights have been bought by this group And they're going to make it into nft and a play to earn game. That's the first one Also, I want you to think about the biggest game in the 90s fighting game And that game And the people that Are behind it are going to bring that to play to earn gaming and then I want you to think about this This next one Can't really say this one, but this next one is Damn it How do I say this? Uh, I can't just keep just watch the watch the the show. It's it's going to be that one is like the third one Think of the biggest sport in the world. That's not right Think of Oh, think of the biggest combat sport in the world We'll say that biggest combat sport and Think of a company got behind that now think about if this company Had a bunch of of influencers and celebrities That were engaged into that platform And this think about how big that could be as it turns into a play to earn game Then also think about if it could actually Turn that Your your tokens that you you buy it for the play to earn game could also purchase you the nfts the swag The events and could also do a lot of things for if you want to do like a pay-per-view Can't tell you what it is. It's not the ufc though. It's another one But we'll get to that so that's it look That's it for today So if you like today's video, give it a thumbs up. I'll turn it up subscribing Let me talk about our time sensitive. That's it for today. So thanks so much. I appreciate it. See you on the next one. Bye