 think was what I would wonder. 5, 6, 6.7 some point 10.5 for the graph. Still not bad. Synthetics still not bad. 10%. So pretty bad. But I will have you notice is that this I've been looking at the one hour. And we may we start to make like a little bit of recovery. So as Bitcoin and Ethereum up 2.3 in last hour, 2.5, 1.7, 1.6. And just to just for giggles, look at that drop. Weepoo. 25, 6, 4, 9. I was 26. So wow, we were all down to 25 at one point. Look at that. Congratulations everybody. That's quite a bit of a dip. And then so we have that. And what I'd like to do is because Ben's always talking about it. Let's be honest. I will say Ben is very adamant about this. We take a look at the Bitcoin. The big just we're going to put it into Bitcoin, I should say, excuse me. And we can see that right now. Actually, the altar is holding up okay. I mean, not too bad. Ethereum is at 0.5, 24 hours. Solanas against is not bleeding yet. Tron, I have to preface it with this. Let's be honest. All of these altcoins have have have bled pretty badly against Bitcoin. It's just like right now, it's not doesn't seem like it's taken much of a hit. But I think that may change. And we can see that some things are doing pretty good. Some things not so good. God, look at all these stable coins. Binance, USD, die, wrapped is wrapped. I would say either USD coin, 4.8% flight of Dow, 4.7 quants up and so forth. So yeah, so right now not too awful. And actually, it was a little bit worse. I did this recording a couple of hours ago. And I just said, Hey, what's going on? Bitcoin's going down against the alt. Did Grayscale lose the case or something? Because everybody's waiting for this, this Grayscale versus SEC lawsuit to be finalized. And I don't think it's going to happen. Maybe it happens tomorrow. I don't know. Maybe that's always thing. I was like, maybe somebody knows something. Maybe somebody has been inside information where Grayscale lost in some way. And people started to take out of Bitcoin. But Ben did make a good point here. When Bitcoin drops quickly, dominance can temporarily stall or go down. But once the market digest the move, usually a few days, maybe a couple of weeks, all Bitcoin pairs plummet. All right. So we'll see how it goes. I got to tell you, I'm actually hoping for that. I know that's not something you should root for. But maybe you're like me and you're thinking to yourself, man, it'd be really sweet. Because I know, I think I know where we're going. Let's be honest, I know there's a crystal ball. But I think in 2024, 2025, we're going to have a pretty good year. So if I could just be nice, if these things start to collapse a little bit, and maybe this dollar cost average that I'm doing, maybe I get some much cheaper stuff. Now, I don't want to be dollar cost averaging and buying the dip until I get all dipped out. But in all honesty, I'm ready for it. And that's pretty much the show. So the question then is why? And there's a couple of reasons potentially. So this is from WatcherGuro, China's property giant Evergrande filed for bankruptcy. I thought it was crazy because today on the NFA live show, me and Guy Ben, we actually, that was what we discussed. Specifically, I even talked about Evergrande and I said how much they were in debt. And I was just surprised that the debt to GDP ratio with which what China has is 258% versus America right now, we have a national debt of $32 trillion. And our debt to GDP is roughly 118%. China is doing much worse right now. And I just I just said, I was like, well, how long can this go, especially for the broad money supply? And we saw that China has been printing up into the right for quite some time. I mean, same thing with us, but we're America. That's what we do here. So I know that's a pretty lame, lame reason, but it's just the truth. So just because WatcherGuro says it doesn't mean it's true until you see it in Reuters. So China Evergrande seeks chapter 15 protection in Manhattan bankruptcy court. Evergrande is one of the largest, if not the largest real estate construction company in China. And once you have something like that collapse, that's just like a 2008-2009 financial crisis that we had in the United States. Once you see the real estate market collapse, you've got problems globally. This is what we got. The world's most heavily indebted property developer, Canada's most childhood Chinese property crisis on Thursday, followed for protection from creditors in a U.S. bankruptcy court. Seems like everybody hates on the United States until they got to file bankruptcy. Then they actually want to go to the United States because we're so good at filing for it. And of course, there's a lot of protections for corporations. The company saw protection on chapter 15, which shields non-U.S. companies that are undergoing restructuring from creditors that hope to sue them or tie up assets in the U.S. So of course, now we're on the hook for that. In affiliates, Tianji Holdings nailed it, also sought chapter 15 protection on Thursday in bankruptcy court. Evergrande's filing comes down to growing fears that problems in China's property sector could spread to other parts of the country's economy as growth slows. And fortunately, this sector, real estate's debt crisis accounts for 40% of Chinese home sales have defaulted. But companies accounting for 40% of Chinese home sales have defaulted. I can't say that any clearer. That is not looking good for China. And it'll have a ripple effect globally, let's just be honest. Evergrande recently had $330 billion of liabilities, rookie numbers. A late 2021 default triggered a strong defaults at other builders, resulting in thousands of unfinished homes across China. And it's not just Evergrande. On Monday, it's electric vehicle, China Evergrande, new energy vehicle group announced its own proposed restructuring, as that business also collapses. So here is reason number one, potentially. Everybody's going to be freaked out. And there's only one market that's open 24-7, 365 besides Forex. That is crypto and digital assets. Congratulations. We are exit liquidity for people who are in traditional finance who are looking for an out. And that's okay. Look, we cannot change the events that unfold. The only thing that we can change is our reaction to them. So if we have this happening, how do you want to respond? You have to really think about this. Is this a time to panic and say, well, it's going to zero. This is awful. Or is it a time to sit back, reflect, and assess the situation and think to yourself, okay, is this really going to go to zero? How much is this going to affect me and my family? What is the next best move for myself and everybody around me? I think that is the bigger question. For me, I can't tell you what to do. I'm not your dad. I'm not your financial advisor, obviously. But for me, I always look around and I say to myself, these are big opportunities. Now, does that mean I'm going to sell my house right now and roll it all into Bitcoin? No, it's a measured response. I think that's the most important thing that we can do here instead of flying off the handle, going crazy and saying the world's going to end, or I'm going all in. But again, you're welcome to do whatever you want to do. So that's reason number one. Also, I just saw this little gem, Elon Musk. So it looks like they may have sold some Bitcoin. The article is a little bit confusing to me. Maybe people smarter than me can help me. But SpaceX wrote down $373 million worth of Bitcoin acquired in 2021, 2022. Here's what we got. According to an August 7 report in the Wall Street Journal, SpaceX recorded $373 million worth of Bitcoin holding on its balance sheet in 2021-22. But it's since written down its value and has sold the crypto. And this last sentence, it gets me. However, it hasn't been confirmed whether the entire $373 million stash was actually sold. However, according to Tesla's second quarter earnings report in 2023, the firm had sold all but 184 million worth of its Bitcoin holdings. When people hear about big, huge players such as Elon Musk selling, they freak out. It's the same response that people get when Elon Musk tweets about how great Dogecoin is and Dogecoin goes up. So if you're going to play the Russian roulette with Elon Musk, then this is the response that you might get. Tesla reported it had liquidated more than 30,000 Bitcoin in the second quarter of 2022 for $936 million, roughly 75% of its original $1.5 billion Bitcoin holdings. I got to tell you, I don't know if that's a mistake waiting to happen for them, but time will only tell. If that Bitcoin price goes to where I think it's going to go in 2024-2025, I think Tesla's going to hope they had held on to it. But again, it's up to them. They're not going to diamond hands. That's what it is. And then lastly, just to finish up, I don't know if this is good news or bad news, quite honestly, but Donald Trump says he will not reappoint Jerome Powell as Federal Reserve Chair if re-elected as president. Look, Jay Powell did a pretty good job so far as far as reducing the inflation rate. We're not where we're at right now. He's kind of crushing the economy and it's really hurting those low- to middle-income families. I know it. I see it. But in all honesty, he's doing what he's supposed to do. Did he do it too late? Yeah, I think so, but that's not the point here. So if Donald Trump does get in, then that's what's going to happen. So I just thought, Jay Powell was nice knowing you if he does get in, but who knows? And then lastly, we just did a, we finally, after three months, we just did a video over on Dan Degen, which I took a look at Wreck League, which is a very, it's a, I'm big on gaming in the next cycle. This is the first fighting game in Web 3, AAA ranked game, rated game, and it's going to be released in like three weeks. And I just did my little review on that. So you can check it out. There's a link in the description. Looks good. I've already bought my NFTs and going from there. But again, you know, who knows what's going to happen in the future and let's see what we got. Who knows what's happening right now. So that's it for today. So look, I just want to give you a little insight as to what is going on. I don't think it's the whole hum big run for the Hills type of event. That'll come later. Just kidding. So that's it for today. So look, thanks so much for stopping by. I do appreciate you. If you liked today's video, give it a thumbs up, consider subscribing. Now we're going to go into 15 or 20 minutes of a little Q&A. I'll answer all your questions, the best of my abilities. And we'll go from there and just remember that Rome wasn't built in the day and these things are bound to happen. And if you've been like me, it's just a Thursday. All right. So what do we have today? Mohamed, I will have nailed it. What's going on? Nothing. It's like Bitcoin's down like seven, eight percent, something like that. People are freaking out. Just wanted to come on here and calm everybody down. Master Blaschus is big bounce. I like that. What do we got? Let me put this in the dollar. It was a pretty big bounce. Baster, you're right. I mean, we went all the way dropped from 27.6 to 25.649. I have to be honest with you, I did buy a little Bitcoin around 26 something because I was like, I think I'm feeling pretty good. That was my extra DCA. It already executed before. I don't think I know I didn't get it. I know I got it around here today, but whatever. You can't sign them all. So a little bit of bounce. Pretty happy about that. Great. Oh, Digen Tolman, a bloody good Thursday. I had shorts open earlier. I don't know what caused this quick pullback. My entire trading portfolio just did a one and a half X and three trades. Congratulations. Wow. Good for you. BNB, Bitcoin and Link all closed down. See, there you go. There's an example of traders doing well. I'm glad to hear that. Philip says, hi, do you think Bitcoin is going on to 15,000? You know, back in the day when it was around 17, I thought it could go to around 12, 13,000. And I was wrong. It only went to like 15, 6. So do I think it could still go down? Anything's possible. And we've taken a look at the yield curve inversion. We've taken a look at credit card debt is almost at $1 trillion here in America. We'll also take a look at the default rate for said credit cards. And when you take a look at that, you take a look at the wages that are pretty much stagnant and inflation kind of sticky, you can see that we are on a path towards a potential recession. If we have a recession, risk assets take the hit first, and then we go down. But that could be in three months, six months, nine months, I'm not for sure. So that's where we're at. But 15,000, anything's possible. And I got to be honest with you, that will be sweet. It happened. Master Blasher said it's crashes over. It's all coming up. Well, there you go. My job here is done. I did it. We did it. Rob, what's that worker device in the corner? That's a green screen. But if it was not a green screen, that's a spin bike. And it's just a resistance bands. Resistance bands are great because you know, I don't have the room to throw on like a bench and a squat rack and heavy weights, stuff like that. Bands are fine. Hey, naughty jackal. Dynamic DCA, quite dynamic today. Very true. When we get out of the risk bands, that's when you want to do it. And sorry, right now, if I'm kind of breaking up a little bit, my computer's a little bit hot. So it's having a problem. Ty Boy says, are you still DCing at a mill? I've bought all my mill that I can possibly want to buy. And I'm actually a stake pull operator for a mill. And I still believe in that project. Ken Oling was just on the show a little bit ago. And it's doing good. There was a hiccup. It looks like the money transmitter. One of the third parts of this money transmission. I know I said this wrong. But they came back and they said, you know what, there's too much risk for us that they're trying to find another bank. So we'll see how it works out. Yeah. Welcome to the path of Max Payne. Hello, everybody. Look, I think most of us are pros here for crypto. This shouldn't be a big deal. I mean, it's still kind of jarring when you see it. But you're like, oh, that's just, that's what we're normal. And I think the problem is because we've been so stagnant, so steady for so long. I think Tej just kind of woke us up like, oh, remember, you're in crypto. China is feeling like crazy. China's got a lot of problems. There's a great video from Ben Shapiro, where he lays out five reasons of why China will collapse, which is a which is a vast difference between him and Ray Dalio. And it makes a lot of sense. And a lot of those is the rapidly aging population, the massive debt that they have accumulated, the problems that they have with the workforce getting older, and microchips. There's one more, but it makes a lot of sense and we'll see how it works out. I think they have a lot of problems that they had to rectify quickly. And if they was pretty bearish again, that's what it is. Sorry. I know, Jake, today it's, I will say this, you know, everybody's like, there's like perma bulls and perma bears. And then you, you watch these, like I did this too in 2017 and 2018, I watched so many videos, which was always like, this is going to be awesome. You just got a, you know, tomorrow is going to be great. Or just next week, there's this new story that just came out, never worked out. So like, if I'm bearish, guys bearish, Ben's bearish. And the day that we actually turn bullish would be more of a legitimate day that things are actually bullish, or you can just listen to the people that are permanently bullish all the time and like, oh yeah, you know, the SEC just won the case against Ripple, that's bullish for Bitcoin. Or the SEC just did this, or grayscale just lost, bullish for Bitcoin. No, it's not, it's going to suck for a while. Let's just be, let's just call it a spade of spade. Why is the Mexican peso doing so well against US dollar? This is what my wife said, she came back from Juarez and she's like, yeah, she's like, I got to tell you, it's way easier shopping over there. Well, she's from Juarez, Mexico originally. And she's like, it's the dollar goes way farther. And I'm like, that's because the dollar is weak. So if you look at the DXY, we can see that it's actually going down. It might have stabilized a little bit, but yeah. Thanks, future. Mr. Trogner says, Trump tried a coup, which could have ended America, but he gets in again, he will not make the same mistake. Probably not. He sold a lot of those NFTs though, let's say that got 500 million, and I think in, I said 500 million, he's got a lot of Ethereum, that's all I know. Just on the glorious day in crypto. Yeah, that's it guys. I think, I think we know we're at, I buy the most when I see red, Daniel, I'll be back there in the next month. China has a 5% growth even after all this, how are we doing growth wise? Well, you gotta remember, they had a one child policy from 1980 to 2016, 2014, excuse me. So right now, usually demographics, it'll look bottom heavy, mid to bottom heavy, where you have, you know, individuals that on the, on the younger slope. And then as we get up to the 60s, 70s and 80s, it kind of thins out. Well, in China, it's a little bit different. It's actually middle heavy. They got most of their population between 35 and 55 years old. And unfortunately, if you have a totalitarian, totalitarian government with a one party system, and they make sure that it relies on the backs of the Chinese people, once you get too old, what are you going to do? So they may have, they may have a growth, but that's because they lifted that one child policy ban in 2014, 2015. I think that's why they have growth. Every time a population, every time a GDP, something different. All right. Yes, exactly. Okay. That's it. My sorry, guys, my computer's going a little bit crazy. I'm kind of glitching out, but that's it for today. So look, remember, if you liked this video, thumbs up, subscribe. Again, we see a blip Evergrande in China. Looks like they're going to bankruptcy Evergrande and it's probably going to have a ripple effect throughout the economy. Globally, we're going to see some, some choppy times. And then also Tesla sold a bunch of their Bitcoin, but that was a couple of quarters ago. And that's it. So that's it for today. So thanks so much, everybody. I appreciate it. And I'll see you guys on the next one. Adios.