 Hello everybody, welcome to the Wednesday live stream quite an interesting day as we see that the market take a little tumble and the reason is why is of course drone Powell, so unfortunately Everything must come to pass and you've probably heard this already. This is just what is happening So it looks like as far as like a Fed recap Powell shoots down a March rate cut. That's a funny thing in in the in the markets It seems like everybody is so sure that they are always correct and that there is no definition of Them for ever being wrong and they like this is definitely gonna happen And of course the March rate cut is probably not gonna happen and CMBC did a really good job of Pretty much condensing all the information over the 45 to an hour long Conference that's a drone Powell did and here are the highlights. So you know what is going on? So first up Drone Powell states we're trying to get comfortable and gain confidence that inflation is on a sustainable path down towards 2% And I gotta be honest with you He's doing actually they're doing a pretty reasonable job of actually fighting inflation and not doing the same mistake That's that was led to Volcker Volcker coming in for the Federal Reserve in late 70s as Before his predecessor Burns from the Fed chair had actually dropped our increased rates Then they cut a little bit too soon And of course there was hyperinflation and it led to a lot of different problems into the 70s and the early 80s So, you know, in all honesty not doing too bad And if anybody says like I inflation isn't isn't isn't too out of control Debatable so that's just one piece based on the meeting today I would tell you that I don't think it's likely that the committee will reach a level of confidence by the time of the March meeting to identify March as the time do that What he's saying, of course is the rate cuts and what we get about that that rate cut mentality We took a look at this actually Last week on NFA live matter of fact and it was amazing because the current rate is 525 to 550 and these numbers right here because the next meeting of course is 20th of March 2024 Last when we looked at it. It was like half and half I think it was almost a little bit higher on the 500 to 525 level meaning that they everybody thought that you know Jerome was going to cut and of course all the difference metrics and the polls and the information and and the quantitative analysis always They put that in and say okay. Well if there's going to be a rate cut here That's good for the markets and we're gonna start buying and of course what happens when it doesn't well It goes in reverse. I this is why I like the market sometimes just confused me because I'm like, why do they even try to forecast it? Why don't they just stick around for the long haul and you know see what happens and slowly accumulate like like we do and get out of here and Actually have a reasonable level of profitability just by sticking around and Then as far as like labor goes he states of course if labor if inflation were to surprise by moving back up We would have to respond to that and would be a surprise at this point Basically saying that if there's a problem with as far as like the market's not responding. They of course will start to Not cut rates but raise rates But that would be a surprise he states But I have to tell you that's why we keep our options open and why we're not rushing and that is for sure They have been very even keel as to what they're doing and of course looking at the data Which is what they were going to do anyhow Powell state there's a way to go before a soft landing has been achieved this was the most interesting part to me because You know when we think about These recession points, you know We we hear drone Powell and we hear a lot of pundits say that it's going to be a soft landing And it's actually laughable, you know when we when we think about it, but in all honesty I mean from right now and some people say well, there's always a recession already in recession Well the economic data doesn't point to that right now Even though there are some data points you can say that yes It looks like we are moving towards the recession But as far as like the definition of recession, what if the government wants to say that actually is no We're not in a recession right now So as far as like a soft landing, here's what he say it certainly I'm encouraged and we're encouraged by the progress But we're not declaring victory at all at this point We think we have a ways to go and he pulls it off. Congratulations And then of course he talks about feds needs to see more evidence that falling inflation is sustainable Says Powell and then goes into some other stuff But yeah, it really comes down to this You know if if the inflation rate can actually stay at the level that they wanted to and actually keep decreasing that Magical 2% number than fantastic great. We've had a software session. Everybody's happy moving into the q2 q3 q4 2024 You know, I still think at some point we could hit a recession, but again remember that recessions are Historically speaking roughly ten months in length and the recessions themselves are The economy and the markets in the economy are two different things So even if we do get into a recession Just you know on average it takes six to seven months for the markets to rebound from that point And of course the economy then recovers later. So even if we do hit a recession I still say we're in the right place at the right time, especially with the Bitcoin having coming up anyhow Let me know as you think about that in the comment section then of course What happened with the markets itself today? Well, it was a little bit of Term while and this again, this is not surprising like when I saw this today I was like, this is great because you know might I mean tomorrow It's it probably won't recover by tomorrow. So this is good for me. I will just keep dollar cost averaging I got a pretty long horizon. So it's actually like pleasantly surprised when it didn't hit 44,000 It's like, hey, great. We're below 43. It's pretty good Ethereum's down everything's down. Let's see what the biggest downer was today, Solana And of course, we're gonna talk about the Jupiter airdrop that it actually quite well and maintained after its $2 peak But yeah, whatever Let's see Cardano avalanche. I mean all the altcoins are down pretty heavily And you know what I'd like to see I would like to see if we can put the currency into Let's not whatever everything my Bitcoin and see how everything's doing well tethers up Let's see So let's see. Oh XRP in the last 24 hours is up 0.5 dollars up against Bitcoin But I like to do this every so often just to see what if you just put your money into Bitcoin how you would do and today it's looking like you should have just put it into Bitcoin and That's just a lesson now. This doesn't happen every time like look here's Monero at 4.7 percent Congratulations bit tensor a towel, which was on a tear lately. So good for you guys first digital USD All right, I'm gonna guess that's another stable coin But a lot of red across the board squeeze up a little bit But for the most part, you know Bitcoin and that's why like As we move into the tin the bull market just be aware that a lot of people are gonna tell you that this is the greatest thing of all Time and this altcoin whatever else and you can do that And I can't give a financial advice much dad, but I'm just saying that you know sometimes It's less it's just good to not have so much stress and just say you know what If I go into Bitcoin over a four-year time horizon things usually work out anyhow let me just think about that in the comments and then also I Was a buoyed by this and this was Thomas hey Apollo comm a wonderful Twitter account links in the description I just like to do this James is doing a great job over invest answers doing all these these diagrams, but I just Saw this and said to myself well at some point maybe everybody's right There's going to be a supply shock and we can just see here that the the nine ETF inflows in orange We can see how much it's actually been and we can see of course the grayscale Bitcoin outflows now Of course grayscale Bitcoin everybody's trying to get out of that because the fees are so high They refuse to drop them also the fact that FTX and who knows what other different types of Players are actually in the what was the grayscale trust which has been transferred over to the grayscale ETF There's a lot of dumping going on because they had to and we can see I mean, I'm not a Genius or a TA person. That's a pretty nice trend. There's less dumpage and I like that so as time goes on maybe we see a lot less grayscale dumping and You know, maybe we can actually see some price appreciation going on with Bitcoin and of course the Bitcoin Goes up. Usually what follows is your precious all coins. So I like that. This is a bullish indicator very happy with that But on the flip side of that, this is not bullish It's from Zach XBT and it looks like ripple was hacked and before everybody starts to lose their mind It was just a wallet a special wallet But it states and if you don't know Zach XBT, he's like the internet sleuth rugpulse survivor turned 2d detective He's had a lot of good information. I must admit and he says yeah It appears that at ripple was hacked for two hundred thirteen million or a hundred and twelve point five Million dollars. Here's the source address and he goes through here. So this was one wallet It was hacked and transferred over here and the question is well, who's walled is that? It's Chris Larson co-founder of ripple and he states yesterday. There was an unauthorized access to a few Not all I might add to just a few of my personal expertise XRP accounts not ripples We were quickly able to catch the problem and notify exchanges to freeze the effective addresses law enforcement has already involved Who rah-rah the thing I just think to myself is man Chris Larson's got a lot of XRP that I'm just saying could potentially be dumped on the markets Maybe there's a reason why what it how is? Let me switch this back. Just real quick because it always astounds me How poorly as far as price appreciation XRP does now don't shoot the messenger I own XRP I wanted to go up just as bad as you guys do But it's amazing to me Just how yeah, I don't look at that ripple executive report on the rest axis. It's just amazing to me Just how poorly the price appreciation actually does let's let's zoom out a little bit. Let's take a year. All right And over a year. It's up a whopping twenty four point three percent watch out I mean, did they not did ripple not beat the SEC like a little boy drum and just really thumped them and Put them in a submission and the SEC had to actually say that XRP is a ripple XRP is not a security You would think that after that they would just be to the moon and they would make up or lost time because they really did get Screwed on the last bull run. I'm sorry guys. You did but no much just very flat so I wonder if it's just a bunch of Still pressure going on in the background with the custody wall I know of course you can say well, there's only so much custody and they put it back in and then go I get it But it's just it's just surprising to me and Since 2017 when I got in it's always been the same thing. Just you wait XRP is gonna be the next big thing However, I will give you this it still is in the top 10. So actually number six anyhow Just thinking out loud kind of interesting and then on top of that Congratulations to all the new Jupiter holders. We don't know Jupiter you can find that a jupy dot AG believe that's right Yes for the airdrop and anybody who used a Solana wallet and interacted with The Jupiter decentralized exchange Qualified for a Jupiter airdrop. I did not apparently I just missed it so bummer on me, but I'm happy for you guys that you got this and This was the criteria. How do you qualify? Well 955,000 wallets which interact with Jupiter directly before the 2nd of November Are eligible for the first jupy airdrop which one of the biggest today? I didn't do that I used orca and I'm sure there was an airdrop somewhere But it didn't happen for me But maybe did it for you and this was just essentially free money and I'm glad that it happened for everybody but I Will say that it did drop pretty precipitously almost 67 percent. However If we take a look at coin get go and there's conflicting data I must admit because the data that I got first from the X account from Jupiter States that the price itself started at 40 cents But for some reason over here in coin get go it says $2 So if it was at 40 cents, I'm just telling you if it wasn't 40 cents And it wasn't here at $2 and slipped to 65 it was a 40 that means that it's still up And if you can see I'm pleasantly surprised that I mean 63 cents. Okay, let's just say it was to okay I dropped a lot, but from here all the dumpers might be gone because it's still at 66 cents That's amazing because I believe correct me the comment section they dropped or they airdropped like 40% of their circulating supply I'm not for sure about that one. I just saw that as a snippet But if that's the truth and everybody got all this airdrop who's selling not that much and That's over a time horizon of between 11 I mean, that's like seven hours seven and a half hours So we'll see what happens tomorrow, but I gotta tell you that looks pretty good I was kind of thought it would drop more so that could be one thing to watch and congratulations to all you holders So that'll take it for that and then now it's gonna be a little PSA and we'll get into a little Q&A Public service announcements and coin questions answers. Just so everybody knows The tangent team send this over to me tangent one of my favorite wallets. I have it somewhere. That's right here Tangem has secured a week of zero fees a week of zero fees on changely for its user swaps on changely They're gonna be added to tangent on February 14th Valentine's Day the whole week thereafter. Let me do some quick math 14th of the 21st Uses will enjoy zero fees when swapping coins and tokens through changely. So that's pretty awesome Especially if they're talking about tokens on the Ethereum chain because if it's Ethereum and there's no there's no fees That's incredible. If it's on like polygon You saved a couple pennies and if it's on Solana Hey, she's saying a fraction of a cent but still pretty good sounds good to me. Good job tangent looks good also For everybody who got screwed over like myself on Celsius and we got duped good news two good pieces of news Celsius is now called Ionic digital community ex Celsius. I will not be following them But they did state that from the lawyers at Kirkland analysis distributions will begin today and tomorrow Hey, congratulations. Maybe we'll get some money back or crypto or whatever it is But we'll continue in the days and weeks that are afterwards if you don't immediately receive instructions for distribution Just wait longer. No, just kidding. It says, please be patient to be able to look out for communication. So This is the information I got from here if you want to go deeper into that I always recommend two people to follow Simon Dixon comm forward slash recovery links in the description And also my man Aaron Bennett who is living the sweet van life who puts out fantastic videos on the things Going on the crypto sphere as well as the things that are happening as far as like Celsius or whatever it's called now So follow those two gentlemen, and they will let you know exactly what's going on now Let's get into the little Q&A also a little bonus for everybody tonight. We're gonna do part two of the my ro Solana meme coin giveaway. So yesterday we gave away 10,000 Mara Miro Miro coins and we're gonna give away another 10,000 roughly about it. I think it's like 1400 bucks or something like that. So just go over there. We'll do this at the end. I'll give you a link and Yeah, we had I gave it was pretty fun yesterday. I got to give away 20 There was 20 winners and I just and I show you how I collect the Solana wallets and then I just give it to you live and then you get them like like that It's pretty cool. So we'll do that for the Q&A and I'll let you know how that works out