 Welcome to the premiere of Market Report with Cointelegraph. Super excited to be here today. I'm your host, Benton, and we're joined by our resident exports, Jordan Finneseth. Jordan has a background in psychology and human behavior, and he uses this as a spot in emerging trends in crypto. And we're also joined with Marcel Peckman. He has 17 years of experience in the stock market's trading derivatives, options, and futures. On today's show, we're going to go into distinct segments, which you can see below. We'll be starting with a rundown of the most important news of the week. Then we'll hear from expert takes on the markets, both from Marcel and Jordan. Next, we'll give you the scoop on altcoins with data from Markets Pro. And finally, we have a special guest, Scott Melker, and we'll open the floor to questions at the end for the community. So what is up, guys? How are we doing today? I'm doing pretty good. Just looking forward to getting this show started, man. Yeah, Marcel, what is up? We've got Bitcoin. Bitcoin's almost back up to 46K. It's a great day to be alive in the crypto world. Yeah, I don't know why people got so upset with, I don't know, 5% drop on Bitcoin down to 43, 44. Ethereum down to 2.8, 2.9,000. If you check the prices and compared to a month ago, two months ago, we came out of a hole, which people called a bear market and even myself. So I don't understand why people are so negative about the 5% drop. I'm still optimistic. I think we're on a good track. Yeah, and historically speaking, you don't want it to keep running after it's gone up a little bit. Like, it's always got to take a little break or when it keeps running, it's like, ooh, there's a big fall coming. So yeah, I think this is a good development. We've seen the corrections, but we also have some really nitty-gritty stuff we're gonna get into about the markets today. So, Danila, let's run it back. So one of the first articles we're gonna dive in today from Quaint Telegraph is the XRP article. It's talking about how the charts were triggered a sell-off warning after price explodes by 54% in one week. So the highly controversial XRP, we all know it's being wrapped up in these lawsuits with the SEC. However, we've seen this price action. What is going on with XRP right now, Marcel? Well, Danila, I think that XRP follow news. And it's either the SEC dispute or some partnerships, as it recently announced, SBI Bank in Japan, GME in South Korea for using XRP on remittance, so sending money abroad, like what they had with MoneyGram last couple of years ago, but it was dismissed, it was done. So I think markets react a lot on this kind of news. And after a while, it adjusts. So investors shouldn't be worried about the SEC dispute because in the end, the XRP token doesn't really depend on repo company. So, but when this price bumps happen, especially on the XRP, it worries me because I don't see fundamentals for a continued growth on the price. So I think we could have a negative reaction after the positive spike when positive news come out. Why not? For me, it's not really a bull run or like a bull market unless something, the XRP does something, it's every year that I've been in cryptocurrencies, XRP has to do something before the whole market gets going, just like other certain things like Craig Wright and other people pop out and they have their little go every round. So I don't know, I see XRP. And if you look at like what happened with BitMEX recently, eventually the XRP thing is gonna get settled in my opinion. Of course, that's just my opinion. I'm not any kind of like high expert on that, but I think that it's just another sign that's gonna go along with Bitcoin and the whole market's gonna run as the market goes in the next few months. Well, we've seen the price of XRP. But my favorite pick, I don't agree. My favorite pick is dodge coin. Whenever dodge coins start popping, you know that a market is gonna rally, not XRP. Sorry for that. Go ahead, Ben. Well, we've seen the price surge to almost three month all-time highs, but some analysts are calling for this pullback on XRP. So when assets rise like this, these meteoric rises of 54%, like what causes these pullbacks? Is this a lot of profit taking? Why are analysts calling for this pullback in particular? I think it's a lot of profit taking and it's just every time there's a big run up, there's a lot like the crypto market's historically volatile. It's kind of intelligent just to say, oh, there's gonna be a good price drop. And I think more times than not you're gonna be correct on that, especially with something like XRP that's such a high flyer. And when it doesn't get a big run, I think people that had big positions and see the rest of the market kind of sell off so they can maybe rotate into some other altcoins. I kinda agree with Jordan, but we gotta remember that XRP releases like a billion coins every month out of escrow. So they're released either for the company or founders to sell on a market. Of course, they don't sell the whole billion every month, but it puts pressure. So it's kind of a concentrated coin. So whenever there's a huge spike, those guys will be willing to accelerate their sell. And naturally the coin is gonna drop, the price is gonna drop. Yeah, well, Danila, I wanna pull up the chart here for XRP to kind of give people some more insights here. So something that we're gonna look at is on the top of this chart, you'll see that like purple area, that is the RSI, the relative strength index. And this is used to kind of, to portray how overbought or underbought an asset is. And so when speaking about RSI, when it's typically above 70, this indicates that it's being overbought. A lot of people are maybe getting into it and it's being overbought. Now, when it's below 30, it's being underbought. So I do wanna kind of talk to you guys about, like when you're looking at these types of charts, is RSI something that you're taking to account in a lot of your trades, Jordan? Yeah, it's more about me when I get on the end to look to enter different positions. Again, I'm more of a long-term holler, so I'm not trading frequently. But if I am looking for a good entry, I will look at things like the RSI, because obviously now it's really looks like it's overbought and it's way up there. So I would probably pick a different coin. At this point, looking at that chart right now to invest my money in. How about you, Marcel? Well, as far as for RSI, I don't believe it's so worthy for cryptocurrencies because bull run can last for two or three months, especially when there's an out-season, when every out-coin is going up 20 to 30% per week, there's no reason to be short in the market or to exit in your positions. If you're in profit, you've gotta take higher risk. Okay, you can sell 25% of the position, but you keep most of it. And after it, it clearly shows the top, then you can sell another half of that, so 75%. But you've gotta be courageous when the bets that you made are doing good are becoming profitable, otherwise you'll be with meager returns. And so are we at the top here for XRP, just kind of looking at this chart? I mean, we see the Fibonacci retracement levels. We see the RSI. Does this really look like a top for XRP? I was just thinking about more like the use case of XRP, like they need to really get on the ball because the coal economy expands and yeah, stable coins really exploding in their supply and how spread out they are. Like the use case for XRP is starting to kind of decline. And the other, like I think I saw the other day a project called XTC was signed on with Swift and a bunch of banks to kind of handle banking transfers in there. So like, yeah, with the RIP, the SEC holding back XRP and the whole market moving ahead, they need to get on the ball and do something special because the whole area with DeFi and NFTs, XRP is just like a mean of transferring money now. And that's like the first level of what blockchain technology can do. So they need to expand the whole platform in my position. I agree. Yeah, I mean, and we've seen competition with Stellar as well, trying to do something similar and really kind of competing in that space too. But I wanna shift things over to the big boy, Bitcoin. We got a lot of stuff to be talking about this week with Bitcoin. We saw it get up to 47K earlier this week, then we slid back. What is going on right now with Bitcoin? Why are we seeing this now? We're almost up to 45, seven today. Marcel, tell us what some of your insights are in regards to what happened to Bitcoin earlier this week and now where we are now. Okay, Bethan. So I think that the slide correction that we've seen, it's a little bit investors being afraid of, I don't know, regulation, federal reserve tampering, which means reducing the market assets, market buys monthly that the federal reserves do. So whenever there's uncertainties, investor will tend to profit take, especially if there's a drop on the S&P as we've seen over the past couple of days. So investors will pick their winners, which Bitcoin is clearly one of them, and Ethereum as well, they're gonna profit take a little bit. So natural, but it reaches some level, maybe 44, 42, 40,000, I don't know, where buyers start, okay, maybe it's already down 10% from the local top. So I'm gonna start over here so things balance out. It's interesting how quick like mood shifts in the home market, like it's a couple of weeks ago, where everybody was worried about the price dropping down to like $20,000. And now we're like, oh, we're slipping below 46, and it's the end of the world. It's like, cryptocurrencies are volatile. Hey, there's a whole lot of things going on in the larger world, like the global economic system ain't all that hot right now. And there's just like, today you have Wells Fargo announcing that they're gonna allow institutional, like big money clients to start investing in Bitcoin. Like to me, there's a lot of positive news under this fear in the market. I don't know, I think we just like to be afraid. It's 50K in sight. I'm a believer that it is. And one of the models that I like to look at personally is the stock to flow chart. This was a chart developed by plan B. So Danil, let's pull this up real quick for those who aren't familiar with the stock to flow model. Let's have a look at this and kind of see where things are at currently with Bitcoin and this chart in particular. So we see the trend line. This is the famous stock to flow model presented by plan B. What his insights essentially say is you can kind of see the price levels with the different colors and then the actual trend line of where he predicts that the Bitcoin price will be. We could see that it's almost, by the end of this year, should be at 100K. Is this stock to flow model something that you all like to look at? Is this something you guys give any weight to at all when we're looking at charts or anything like that? I don't believe that any asset should be valid by itself, by its scarcity. Bitcoin doesn't exist in the space. It competes with other assets, with stock markets, with housing, with every major bond market or gold and whatever. So whenever the federal reserves say that, well, we're gonna start reducing the monthly asset purchases, investors will naturally look for ways to, I don't know, seek protection or sell the winners. So I don't think that we should be relying on a model that exclusively uses scarcity to price Bitcoin. So I don't use it. Yeah, I wouldn't usually agree with using just one specific model, but like in these cases, and like with my background in psychology, it's not so much that Bitcoin's gonna follow this chart. It's that everybody, a lot, not everybody, a large percentage of people in the ecosystem think it will. And that like we're the people that are driving the market, the people in the market are driving the market. So whether or not like the big, if nobody was around, we wouldn't really sell Bitcoin, but like will it follow this? I think it has a lot to do with the fact that everybody in the market thinks it will, like we'll drive certain tokens and certain prices up higher just because people foam on stuff. So I think even though like in isolation, I wouldn't just trust one metric, the fact that it's tied into like the sentiment and overall feeling of people in the market, it gives it a little bit more weight. And it also makes it easy to manipulate the price at that point too. So. Well, I do wanna touch on something that Marcel brought up earlier, which was some Fed policy. They recently announced like an emerging consensus to unwind 120 billion monthly purchases of treasury and mortgage-backed securities. What does this mean? And then as a second note, like what does this mean for Bitcoin Marcel? That's just to show, to pretend that they're willing to reduce the asset purchase. Because if they drastically reduce, if they cut everything down from 120 billion to zero, they know that markets will collapse because investors will lose their confidence. Well, the Fed is no longer supporting us. I don't know how much of the recent S&P growth or general housing prices was caused by the Federal Reserve's asset purchases. But even if they reduce it by, I don't know, 30 to 50%, you gotta remember that they recently increased food stamps by 25%. So there's a lot of assistations. They're handing out money in $2,000 monthly for unemployed and stuff like this. So the more money that's flowing in the market, the easier it is for Bitcoin to reach 50,000 or 100,000. So we largely depend on the Federal Reserve. That's not for ourselves. Bitcoin doesn't exist in a vacuum. So whatever their decisions is gonna impact hugely on us. Yeah, I think it'll have enough impact to you. They're definitely putting a lot of money into the system. And like you just, Marcel said, they're shifting it around so if they decrease the mortgage-backed security purchases, they're increasing things like welfare. What really matters, is it gonna affect the whole concept of inflation. Like even housing here in the US is getting really high because if they are buying these mortgage-backed securities off the market, it allows the value of houses to stay up. If they start removing that, are the values of how's it gonna go down? But we're gonna start, like money is gonna start chasing assets. And like I've said it before, one of our previous practice shows, as things like real estate and precious metals and stuff get less and less and more scarce out there, people are gonna funnel into the different crypto currencies just because it's gonna be the easiest way for them to try and transfer their money into something that's not gonna lose all its value. Yeah, interesting take because we saw the same thing happen in 2008 with the housing crisis. So like hopefully this isn't a repeat of the same mistake. Now, when it comes to Bitcoin, people are talking about this double bubble. I don't know if you guys have heard of this, but is there a second peak in sight by the end of this year, what would it take for us to break through this 50K kind of resistance level? Marcel. Interesting question. My mind for us to break the 50 or $60,000 this year, we would require the ETF approval in the United States. And recently, the SEC president, Gary Ganslis, said that he would be more keen to accept ETFs that held indirect exposure to Bitcoin, like using the CME or like using the Grayscale GBTC. So I think it's gonna be approved, but I'm waiting that for the first half of 2022. So I don't see a second top this year. What about you, Jordan? I think that there will, I don't know what it will be, what will cause it. I'm just like, oh, everybody's saying it, so it's gonna happen. I don't know. That would be a really good one. An ETF for a way for large amounts of the traditional financial system to really start getting invested in Bitcoin. It's probably what it's gonna take to really push us higher, but I don't know. We'll see what's going on with Tether. I know they just printed another billion Tether, not too long ago. I don't know. The whole thing's really influx. It's like, I've written several articles. We're kind of in an indecision phase right now, and it could go either way. I think the market is looking for a really big development to push us higher. So we'll see what happens. It could be something that happens with the greater economy, who knows. I'm bullish on Bitcoin. 100K or bust by the end of 2020, let's go. Now that we've talked about the biggest asset in crypto, Bitcoin, we're also gonna be talking about some altcoins today. And I think Marcel has some very, very interesting insights for us to get into. So let's go ahead and roll into Marcel Peckman's expert segment. So we've covered a little bit of Bitcoin, and today I'm gonna talk about altcoins and how do I personally do the analysis, and we're gonna compare with what Ben from Jordan do as well. But for me, analyzing altcoins is a much harder job because there's less data. For example, we don't have options market or maybe futures contours have a low market share or a low market size. So it's not that tristable such as Bitcoin and Ethereum. But I'll show you how I run the analysis myself. I know that every Twitter has its own timeframe, its own risk aversion. So for me, I don't take four hour candles or daily candles or weekly candles. I'm more interested in monthly or quarterly performances. So I'm not a really a short-term trader. So the number one thing that I do is start with the Bitcoin chart. It's simple as that because it holds like, I don't know, 60 to 70% of the market share among the top coins. And you gotta understand whether we're on a bull trend, we're neutral, we're on a bear trend. So keep in mind that you gotta use the same timeframe all the time. You could not be changing from one hour to 15 minutes to four hours, to a week, to a month. When you're analyzing out-coin performance for a month, you gotta analyze Bitcoin performance. So photocrypto currency market performance for a month. So you gotta see first, has Bitcoin reached some resistance? Is there a strong support? Then if Bitcoin is facing a top, a local top, like we just did with 47, 48,000, I recommend you to move to the out-coin market cap. So if out-coins are still running, after BTC held the top, that's for me a very bullish indicator for out-coins. Do you agree with me, Jordan? Yeah, I agree, like I like to watch Bitcoin is definitely still the market leader as far as the whole market goes. And after like Bitcoin moves, and a lot of times the rest of the market will move after that. So yeah, I like to look at it as leading indicator, even though I prefer more bullish out-coins. And I'm still waiting for the day where the whole market separates and the stable coin influence comes in to make it so that not every coin is dependent so much on the price of Bitcoin. But that's still a few years off in my opinion. So wait, Marcel, I wanna pull back. You mentioned that you like to look at kind of longer term time frames when you're looking at trades, whether that's monthly, quarterly. It doesn't give you a little bit more insights as to what is happening in particular moments when you are kind of zooming in whether it's a 30-minute chart, an hour chart, a four-hour chart. Why is that not beneficial to use some of those smaller time frames? Because you can get easy food by noise, by news that came out or a rumor that came out that I don't know, some exchanges not letting clients withdraw money and it caused the market to drop. But after four or five days, everything goes back to normal. So when you focus on weekly and monthly charts, you kind of balance out those quickly news impacts. So it's a clear analysis for me. I don't know what Jordan agrees or not. Are there any times when you use the lower time frames? Only if there's, okay, an employment came out, it's 6%, people were expecting 4%. So yeah, I'm gonna check what's gonna happen over the next 30 minutes, over the next one hour to see how the market reacts. Well, that was a bearish data and market still rallied. So yeah, that's the only case that I'm gonna use a 15, 30-minute chart. Okay. I find that interesting because... Go ahead, man. Yeah, I'm a DeFi token trader. So I'm looking at sometimes minute, five minutes, 15-minute charts when I'm looking at DeFi tokens because those small market caps move very, very quick. And I wanna know who's selling, who's buying, and how much in that instance. So I'm gonna take the other side of this is I love zooming in, but I think it's also important to understand you gotta have perspective when it comes to a lot of larger market caps and being able to zoom out and look at a monthly and quarterly chart. But yeah, so I guess, Marcelle, are we in all season right now? What are things kinda looking like? I think right now as Bitcoin failed to break the $48,000 points for $8,000 for two times in less than a week. And altcoins are still rallying. I think, yeah, we're at a beginning of an altcoin season, but if Bitcoin drops below $42,000 or $41,000, it's gonna get ugly for them. But right now, yeah, there's a positive mood for altcoins. So back to my routine. After I decided that, yeah, we're on a good trend for altcoins, I'm gonna open a chart for the specific altcoin that I wanna analyze. But first of all, I'm gonna log in Cointelegraph website to check for news, log in at CT Pro to check for some vortex signals, which we're gonna talk later. So it runs Twitter sentiments, for example. It searches for listings on Coinbase or stuff like that. So those are major events that definitely impact the market. And I wanna know even if I'm looking at a larger timeframe. So, but okay, let's say the altcoin you were analyzing bumped like 30% a week ago because of a listing or whatever. So what you gotta think is, was that something that investors were expecting? Was that something that changed the game? Oh, it's the first large exchange that's been listing or no, it was already a piece of that, listed at Binance, OKX, who will be in all of the major exchanges. So if that's the case, if just another change that's getting listed and it pumped 30%, so I expect market to react negatively after that. But okay. Do you recommend buying coins that have bumped like 50% already? Only if you have a strong bull case for that. Only if everybody's talking about himself. What makes up strong bull case though in your opinion, Marcel? Well, if Sam Guy, the FTX guy says on Twitter that he's bullish on some altcoin on the first date pumps 50%, okay, buy $2,000, buy something, get exposure because the guy from FTX has a lot of influence and he's had a lot of money and he can move markets by himself. So jump in, even if it's... I think we should also note, not financial advice, just because a certain influencer says something about a token does not mean you should invest, but you can heed some of those indicators if you will from different influencers like SVF from FTX. Go ahead. Yeah. So Danilo, can you show my article on Cardano, please? So here you can see that I analyzed Cardano about a week ago. It showed that the price was increasing. You can go scroll down a little bit for the price chart, Danilo, please. So it shows that Cardano was already climbing, but when we moved to derive this data, for example, the funding rate from the perpetual counters, it did not show that professional investors were buying leverage positions. So that shows me a bit of lack of confidence. So if the funding rate is close to zero or if it's negative, I'll be thinking twice about buying an altcoin after a 50% run. So I use a lot of the derivatives indicator. The funding rate for me, it's the primary one that everybody showed. Oh, I'm gonna show you right here. So let's get to the Cardano price chart. You can see that it was already climbing when I said, well, okay, but there are some things that are worrying me. So if we scroll down a bit, we're gonna see that the funding rate, which is the indicator that I was saying, used to be positive ahead of May 19, but over the past couple of months, it's been close to zero. So unless we see a 0.10, 0.15 positive funding rate every eight hours, I wouldn't be aggressively buying after a 50% rally. So that's what I normally do. So wait, Marcel, what exactly is the funding rate and then why is that so important in relation to some of the bigger assets like Bitcoin and Ethereum? Okay, so the funding rate tells me when perpetual futures, the derivatives that you trade at minus futures, who are the big max, they're buyers and sellers, the longs and shorts are balanced at all times, okay? You cannot have more buyers and sellers. They're match all times, but their leverage vary. If the buyers are using more leverage, the funding rate goes positive. The sellers, the shorts are using more leverage, the funding rate goes negative. So I wanna get in an alcoine when it's starting to get hot, when the funding rate is starting to go positive, means buyers are starting to use leverage and trust that the rally will continue. And that's from a negative funding rate to a positive is typically what that's saying? Yeah, either from a zero to positive or from a negative to positive, yeah. So you gotta be in the beginning of that cycle. Very interesting insights. Well, that's good to know because I've never really looked into the funding rate of some of those. So maybe that's something I'll start adding into my toolkit. We talked about some altcoins and I know Jordan has some very, very interesting facts to present today about particulars around alt season. So let's go ahead and roll right into Jordan's expert segment. Yeah, so like this is one of those few instances where me and Marcel are kind of the same page or talking about the same thing come on today. I'm like, oh, we're both talking about alt season. But so yeah, if you could pull up my article, Danilo. The ever since about July 20th, the market kind of bottom, that's when Bitcoin was down below 30K, I believe. And Bitcoin has obviously turned around gone up to 46K, but the altcoins have really rallied too. Some of the altcoins, especially several of the DeFi tokens and NFT projects have seen their prices rally more than 400%, like Axie Infinity. That's when we've talked about several times in the past and then me and Marcel have a little relationship around that one. But like, does that mean that like in the past, a lot of times we'll see Bitcoin will do a run up, the price will stall, and then start to pull back. And what happens is that's when altcoins start to kick off because people that have made gains in Bitcoin kind of rotate over in the altcoins and they start to run. And we're trying to figure out if that's going on right now. I know there's a tweet here that's not really showing up on my screen, but if you could actually hear, I can do this one. If you look at this chart it's provided, it just kind of looks at an altcoin season index. And I'm not, I only found this the other day. I'm not saying like I'm married to it or anything, but it's an interesting look at it. What the hell is that dude? Yeah, I know it's the only thing I found that kind of showed altcoin season, but it's saying like, if Bitcoin's below this price, it's Bitcoin season, and above it's this altcoin season. I don't know, I kind of think that it's the opposite, but I don't know, I want to get your guys' opinion on whether or not you think we're in altcoin season or if Bitcoin's got to do another run or if Bitcoin goes down, is that going to kill the altcoins? I don't know, what do you guys think? Yeah, Marcel, why don't you take this question here? Well, as I said previously, whenever Bitcoin fails to break an important level like 47 or 48, I'll rejoin them. People will rotate to altcoins and seek gains otherwise in other coins, but yeah, if Bitcoin fails to hold the 42,000 support which has been holding for two or three weeks, it's going to look ugly for altcoins because there's less liquidity. So when you're buying $10 million worth of altcoins, there are multiple sellers, especially if you're paying up 20, 30% up, but whenever you want out of the altcoins, sending $20 million, $10 million at market, it's going to cause a 40% crash, not a 5%, not a 10% crash. So it's the door, the entry door, it's much larger than the exit door. Well, that depends on who's selling and how liquid the market is, but I think we're moving into a whole new phase because a lot of these tokens are have staking things built in. So they're kind of have, they have measures in place to try and prevent large scale sales. Now I know if big whales decide to just start dumping tokens, that's always, there's nothing many people can do about that. But I don't know, I think we're really starting to approach the point in time when the whole market can kind of start to separate from Bitcoin, like stable coins have become a lot more productive. We might have to have a little shake out with Tether first, but I don't know, what do you guys, do you think it's possible that anytime soon, altcoins could hold their own ground without Bitcoin staying up? Well, so first of all, Jordan, I have an important tool for you to use. It's the all season indicator on markets pro. So I don't know if you've checked that out, but you definitely need to look that. It pretty much lays it out pretty simply for you, whether we're in Bitcoin season or all coin season. So that's something that we can get into later. But when it comes to, when I'm looking at a lot of things, I also have a question for you all, is does Ethereum lead the way? I've heard this argument a couple of times. Does Ethereum lead the market or does Bitcoin lead the market which tends to roll that over into an alt season? I'm curious to hear your take on this, Jordan. I'm just gonna jump back to what Marcel said earlier and Dogecoin leads the market. Like, I don't know, there's a lot going on right now. Like, everybody was really hyped for London Hardfork. London Hardfork came, what happens? The gas prices increased. Now you see Terra and Solana shooting up these other layer one program platforms. Like, yeah, they're both, I know they got the biggest valuations currently, but I don't know, I'm a lot more interested in the rest of the coins. So, like, I'm just gonna stick with Doge. What do you think, Marcel? I don't think there's a specific altcoin indicator because people sometimes prefer some sectors. Okay, now what's hot is the smart contract segment. Now what's hot is the DeFi segment. Now what's hot is the game segment. So you've got to be attentive to what are the sectors that are moving up and if multiple points like five or six of them are moving up 30% or more in a week, it's a good indicator of analysis. Yeah, I typically try to take the approach of like, if I don't know what the utility of the token is, I'm probably not going to be looking at that, even though there are tokens that where you can look at and be like, hey, the TA says that I should probably jump into this, but like, I'm in the school of thought, if I'm not willing to invest in it, almost like a company in some ways, then like, why am I gonna look at this? But it comes down to utility for me when I'm looking at a lot of these altcoins. Yeah, I agree. Like, if you're gonna do some long-term, I'm like, I'm a long-term holder, find projects that you believe in long-term and get those. And Marcel mentioned it a long time ago, like, if everybody's talking about a coin, it might be a good idea to pick a, this is an investment advice, but like, again, there's a little bit of power behind the people. If everybody's talking, if Twitter's just blowing up about a coin, they pick up a little bit. If it like goes up 100%, you know? Yeah, take profits. Start investment advice. But in general, yeah, just... Yeah. Excellent, excellent insights for today for Jordan's segment. But speaking of Markets Pro, we're gonna be diving into some of the coins that you should be watching and telling you what Markets Pro is all about. So Danilo, let's get right into it. So today, we are gonna give you the inside scoop on some of the best altcoins to watch this week according to our flagship product, Markets Pro. And for those who don't know what Markets Pro is, it's a data intelligence platform designed to enhance investor's decision-making with industry-grade analytics. So the first coin that we're gonna pull up here is going to be Filecoin. So one of the things with Filecoin this week is we're gonna pull up this chart Danilo is we're gonna get into one of the aspects that makes Markets Pro so great. It's the newsquakes. So for those who don't know what the newsquakes are, we'll look here at the bottom circle where you see those two little pinpoints. These are called newsquakes. So we have the double newsquake here, which are events that happened and our platform is able to signal those to our platform user. So a newsquake is an AI-powered system that automatically sifts through thousands of websites and social feeds to detect potentially market-moving developments moments after they get publicized by primary sources. So it's scraping thousands if not hundreds of thousands of news sources on the internet. So newsquakes is actually the same service that the writers at Cointelegraph use to track breaking stories. Not only that, the newsquake algorithm is trained to look for three types of announcements that have the greatest potential to move crypto prices, which are staking announcements, exchange listings and partnerships. So as we can see on this chart here, Filecoin had these newsquakes and that white line is showing you the price of Filecoin. In the middle there, you see the yellow line for the Vortex score. This double barrel newsquake that we saw, shortly thereafter, the price just absolutely skyrocketed. So the markets per community gets that alert and then in collaboration with the two projects here, Filecoin, this allowed decentralized applications to be built on near to integrate Filecoin based storage. So this was the announcement that happened. So it was a partnership announcement and this development resulted in considerable gains for both near protocol and Filecoin. So that's one of the coolest things about this platform. Jordan and Marcel, is that something that you guys are looking at or monitoring a lot of times when using Markets Pro? Yeah, it's completely impossible to manually check for every Twitter announcements, Reddit, blog posts, newsletters. So if you have a tool available using AI, it's gonna do a much better job than ourselves. So no doubt we use it when selecting what coins to cover as an analyst and writer and even when trading. Yeah, definitely. Yeah, if you're the type of person that only likes Bitcoin and Ethereum, it might not be any good for you just cause those kind of do their own thing. But if you like all coins at all and have a kind of any feelers out there, Markets Pro definitely helps kind of get a, get all the announcements in one place cause it can be really hard to track. You start getting 20 or 30 different projects that you like, man, that's a lot, but like Markets Pro can put it all in one place. And as you see, like a lot of the times the announcements come, and even if the price already started moving before the announcement, I've noticed that it'll continue to run at least a day or two afterwards in most instances just because it takes a while for that news to trickle out, which is so it's good when you can get it all there right in one little location right when it happens. So you can kind of try and catch those rallies if that's the game you're playing. Yeah, I mean, look at those price swings. This is now near protocol that we're showing on the screen. Those two newsquakes happened that partnership announcement, Filecoin near protocol, boom, an absolutely huge injection when it comes to price for near protocol here. So that newsquake was able to recognize that. And then if you were interested in Markets Pro check out the description below. We have the link there for you to go give it a trial, give it a go. One of the biggest things, like I said, is those newsquakes but we're gonna roll into the next coin that we wanna highlight today from our Markets Pro platform. This time we're gonna get into the Vortex score which is kind of an element that is frequently used on the platform. So the Vortex score is a proprietary algorithm that scrapes the internet for market activity and social sentiment indicators and matches this with historical patterns, a price change. So the scores are put on a scale of one to a hundred for each token, the higher the score, the more the model is confident that in the past the current combination of market metrics and social activity around the coin preceded significant price increases by 12 to 72 hours. So the score is not a crystal ball and it shouldn't be used as a price prediction tool but it can give you a good picture of what's happened in the past and pair that up with kind of the current environment for each token. So the next coin that we wanna get into today is the Axie Infinity chart. This is a token that we talk about now for a couple of weeks it's just been absolutely surging. So we're gonna walk you through this chart. What does all this mumbo jumbo mean? We got circles, we got squares, we got red lines everywhere. So that green line is the Vortex score. When it is green, that is a higher score when it's kind of that yellow, orange color you're looking at a lower Vortex score. So we saw there that first circle on the top left that means it's in the 80s. 80s is typically a good score for the Vortex score. And then what we saw with that white line is that price action shortly thereafter it looks like we're looking at about a 24 hour difference and we saw the first price swing then the Vortex score as we're kind of following that chart down turns yellow and then we have another high Vortex score a few days later with that second circle at the top and then a massive price swing again. And this is for Axi Infinity. A lot of stuff's been developing around this project and we've seen it go from 614 to 924. Then we saw it go from $10.60 all the way up to $16 in just several hours. And that Vortex score was able to kind of capture that and really kind of look at things through the algorithmic lens. So I know Jordan's been talking a lot about Axi Infinity. What do you got Marcel? But I just wanna highlight that after there's some Twitter activity or some news that comes out and Vortex spikes it's natural that the Vortex after a couple of days or a couple of hours will go down. That does not mean it's a sell indicator that just means that that hype that momentum has passed away. So it's not a sell indicator just for readers or viewers to understand it. Yeah. And there's definitely different strategies that people use inside the community whether it means they're buying at certain Vortex score levels and then holding for a certain time period whether it's an 80 score all the way up to 100 those are kind of like different strategies because the next thing that we wanna get into about Markets Pro is we wanna get into the VGX token. This was something that we had talked about on the pre-show that we wanna kind of show you one little example of the Vortex score where it really was able to impact the price and you see that first circle there we had that green line at the top that's indicating a good Vortex score and then on that white line again huge, huge indicator there where we saw that holy smokes all the way at the bottom and then a huge surge up. But yeah, that's kind of the Vortex score in a nutshell it's a huge, huge piece of the platform and it's something valuable. I think that everyone that's using Markets Pro typically looks at. Yeah, it's about, I found it a valuable indicator and it provides good insight into just sentiment and current market conditions in my opinion. Yeah. Yeah. And I know we have a much anticipated special guest for today and let's go right into the special guests for today's market report. We would like to welcome Mr. Scott Melker How's it going, man? What's up guys? Yeah, thanks for joining us today. Thank you, Marcel. Marcel, very happy to be here. Yeah, for those who don't know Scott he is a crypto trader investor at Texas West Capital he's an advisor to a number of blockchain-based projects and he's the author of a popular Wolfden newsletter and host of the industry leading the Wolf of All Streets podcast. Welcome, Scott. We are happy to have you on today's show a lot of good questions for you as well. Let's do it. Yeah. So let's jump right into things. What niche inside of crypto are you most bullish on right now? I'm supposed to say Bitcoin, right? So I don't anger the maximalists. What niche is? There's only Bitcoin. No, I think it's pretty obvious at the moment honestly that the NFT space is booming the DeFi spaces are booming that we're seeing really these sort of niches as you mentioned branch off from the whole and find their own life. It's funny people talk about alt season or what the market's gonna do but there's been no time really in the past 12 to 18 months that something in crypto hasn't been booming, right? So if you consider NFTs as part of the alt coin market I don't obviously, but that's been going absolutely crazy while everything else has been boring this summer. So I would say DeFi and NFTs I'm more of a fine art collector in the NFT space. I'm not flipping a Pudgy Penguins and handicapped apes or whatever I don't know what they're called, but you know, or fluffy unicorns but I'm loving watching people do it and making incredible amount of money doing so and I think that that's really just beginning. Yeah, definitely. Now, where do you see the markets heading here overall just from like a macro perspective the next 30 to 60 days? I'm supposed to say up only, right? I generally don't make 30 to 60 day predictions because they make me inevitably look stupid. And so I'm not, I'm really not a fan of placing time limits on targets because the odds of you being correct and your crystal ball being accurate are minimal I would say. I think that if we're just looking at the market as a whole obviously Bitcoin leads and so we left consolidation in my mind when it broke above the 41, 42, 43 area and so I'm not surprised to see that move exhaust whether we get a retest of that area I've been looking for it doesn't mean we get it and then I think it's up from there. I think that the bearish news cycle that came with the leverage liquidations and price drop is somewhat over and with price rising we'll probably see another sovereign nation make Bitcoin legal tender or another Tesla type five that will spark things and send us head again. And I think that if Bitcoin rises a rising tide will lift all those. Yeah, so are there certain like levels that you're looking at right now in particular in regards to Bitcoin? Yeah, I mean, I think everything from 40 to 43 you can pick any level in there depending on your strategy is kind of the key support now. I mean, my view is right around 41, 42 we made a higher high and broke the bearish market structure and like I said, we sort of left that range that we were in for three months. So I would be a bit surprised to see us trading back in it. I wouldn't be surprised to see a wick or two down there and some opportunities to grab some liquidity but and then above that I think 47 is key right now, very clear. Again, 47 to 48 a line is a zone on a chart, right? I mean, you don't need to be that precise. And above that we're gonna get the 50 sort of psychological and above there, you know, pretty clear sailing I think to the previous highs. What do you think it would take to push the price up to that or like $100,000 Bitcoin? 100, I mean, it's only a two X, right? It's funny because 100 seems so crazy when you've been here for a while and you think about in perspective what previous prices were but when you consider the fact that Bitcoin from 3,800 to 65,000 in a year last year doing a mere 2.2 X from 46 or 47 to hit 100,000 is nothing. So I think personally, I think that could happen just organically without a catalyst but if we're talking about what sets it off again I think it'll be some news event that gets people confident again brings retail pouring back in but interestingly, I mean on chain retail is kind of back. You know, I know a lot of them obviously got rinsed on the drop but we are seeing a lot of small accounts sort of starting to accumulate it again as well obviously as the larger accounts that we are accumulating down in the 30s but listen, I just don't think there's that there aren't that many sellers here. I think people who wanted to sell somewhat sold I could be wrong, of course. I mean, we could go to 10,000 or zero as people like to say, no, I don't think that will happen but I'm aware that anything could happen. This could be some sort of a bear market fake out. I just don't really see it right now. I think the huge drop was largely a result of liquidations and went much deeper than you would have expected. I mean, $10 billion were liquidated from 60 to 50 a million individual retail accounts and it took less than a billion in shorts being liquidated to get from 30 to 43, right? A few hundred million. So it's not even the same ball game from what happened on the way down and what's happening on the way up. So I just think that the demand is increasing and supply isn't at the most very basic level and that could take us but we get one more Amazon buys Bitcoin. We're going to 100,000 in a month. Whoo, Scott, I'm curious. What allocation do you recommend for Bitcoin and Ethereum versus altcoins right now? In someone's portfolio? Yeah. Like a portfolio allocation, it's different for every single person and I have to make clear, I am not a financial advisor, although I play one on TV here. I think that's changed over time and it really depends I think on how comfortable you are with the market, how much knowledge you have and how long you've been here, right? If you're brand new, that answer is different than if you've been here for two or three years. So I think if you're brand new, you start buying some Bitcoin, you start touching these assets, you get a feel for it, you send a bit to a friend, you make them send it back because you don't want to actually give it to them. And then once you're familiar with Bitcoin, you start to buy a bit of Ethereum, you start to take that and then from there, you start to go down the longer tail of risk when you're more comfortable. I believe that generally, I like the standard sort of portfolio balance view, which is 70% long-term holds, 15% cash for buying dips, in which case for me is USDC earning interest on any of the number of platforms where you can do that 10% a year and then 15% for trading. And so you can ratchet that up big time if it's like a full on alt season and you're confident, go ahead, go above that 15% for trading. And so if you're considering your long-term holds, I have a pretty refined strategy on how I do it. It used to be almost all Bitcoin. Then I went to sort of like a 75, 25 Bitcoin Ethereum, then Ethereum made itself a much larger percentage, because it's been just crushing, obviously. And then the smaller part of that portfolio is the leftovers, the last 10, 20% of successful alt trades of the past. So if something does a 10X, a 20X, a 30X, I throw the last 10, 20% that I haven't taken and profit into my long-term holds as a moon bag, maybe I'll wake up in 10 years on a yacht because of some coin that I forgot I owned. And that's basically how I approach it. But I think your average person should be, heavily weighted to Bitcoin and Ethereum in whatever proportion they view. And I think institutions that are starting to get interested in Ethereum are generally looking at it as a 75, 25 Bitcoin Ethereum split from what I've heard talking to people on the podcast. Do you think China's crackdown on mining is really good long-term? I know, I think you got involved in mining now, haven't you? Is that good long-term for Bitcoin? Yeah, that's actually when I got into mining. The literally the second I heard that news, I hit up with Gibbs at Compass Mining and I said, how do I do this? And he said, I'm not helping you go to my website, didn't help me at all. And so I get like a 10% discount. No, no, just go to my website. So I did. And no, yeah, I view that as it's funny that it was such a bearish narrative obviously for the price drop from 65 to 30 because if you zoom out, it was the most bearish narrative was that mining in Bitcoin was centralized in China, right? We've been hearing that for as long as I've been here. The worst thing about Bitcoin was the centralization in China. So China makes the mistake of basically relinquishing that control and somehow that becomes the bearish narrative. I'm showing you how absurd the narratives are surrounding Bitcoin and how they just follow the price either way and they don't need it. But yes, I think that obviously with the energy debate still being somewhat hot, although it's cooled off, anything that removes that from China and moves it to more energy conscious miners in countries that are cracking down a bit more and it is better. I think Argo mining just announced that they're, don't remember what they called it, environmentally positive now, between carbon credits and renewables, they're actually benefiting the environment rather than hurting it. We know Riot, Mara, all those are moving in that direction. So I think anything that removes control from China is a good thing mining and otherwise. Very good thing. So like, is the US gonna be the ultimate beneficiary of this kind of shift from China? Or is it gonna be other countries as well? I think everywhere not named China is the beneficiary of it. I mean, I think that there's a lot of interest in the United States. So I think that we have these huge sort of pools and publicly traded companies. So I think the eyes are on them. I view investing in mining stocks as sort of like a leveraged Bitcoin play, right? They have more downside when Bitcoin drops and more upside when it goes up. But if you're trying to gain exposure to Bitcoin, buy Riot, buy Mara, buy one of these stocks and you can do that in your IRA, you don't have to touch Bitcoin and you get more upside if you think it's going up in my opinion, right? So you basically get the benefit of the Bitcoin price. Go ahead, sorry. Why not Coinbase shares? Oh, I love Coinbase. I'm like, although I'm sunken down at the bottom of the ocean in a submarine with a hole on it in my position right now but I've been averaging down on Coinbase from like 330 down to the low 200s and I've even bought more 260 maybe on Tuesday. I think same thing. But I think that the miners are more volatile but I think that Coinbase will be one of the, 10 largest companies in the world. I do. And maybe I'm wrong. And frankly, I don't like Coinbase, right? I don't use it. When I did, it would be frozen every time I wanted to use it. The fact that they were still, last I had been on there, we're using SMS authentication, things like that. I just, not a platform that I am comfortable with but what I am comfortable with is making money. I really like it. And I think that if you buy Coinbase and you wait 10 years, you're going to be rewarded. And that's sort of the time horizon that I tend to invest on, at least. So like when it comes to like on and off ramps though like what are some of your favorites that you like to use in regards to getting your crypto? Well, listen to that. So, I used to go full yellow and use all the exchanges that were not necessarily, let's just say gray areas for United States citizens. Our options are extremely limited. I don't live in New York anymore so I have at least some options but I primarily use Voyager. I think they're a broker so they obviously source liquidity from multiple exchanges so filling is really easy. They do have a spread but no fees so it basically ends up being comparable probably or slightly less than Coinbase. But what I love about them and I use as an off ramp and on ramp is the fact that like while I'm sitting there waiting to trade or buy I'm earning 10% on my USDC because I hold VGX which you guys just reviewed earlier. Hilarious, I mean I bought $2,000 worth of VGX to get the 1% bonus without even thinking and all of a sudden I looked down and that $2,000 was like 75 grand two months later so it shows how nuts this market is. But yeah, and I trade a lot actually on Binance US. I don't know how many people actually use it but it's really easy to get money in and out of and there are some pairs there and then obviously like most of the rest of what I do is on DEXes. Like I don't touch legacy Binance anymore. I don't as much fun as that would be and it used to be. That was actually a huge change in my entire sort of interaction with the ecosystem is when I truly gave up on using Binance and having access to all those coins and pairs. Yeah. What are your thoughts on Ethereum fees and DEX usage? Listen, Ethereum is the 1% right now I mean you have to be kind of rich to use Ethereum and that was even more true I think in March, April, May when it was really, really going nuts when you'd go in there and be like I wanna send a thousand bucks cost 400 bucks. Great. So listen, I'm hopeful that that will be solved slowly but like I believe if 2.0 like the Lightning Network is one of those things that will perpetually be 18 months away until I'm dead. So I have confidence it will eventually happen. I just can't tell you when that will happen and what those improvements will be but I think that there's so many options now and so easy. Like I mean I don't trade that aggressively at this point but like I really like Macha, I really like Pangolin for an Avalanche, I've obviously used Pancake Swap. There are ways around those fees now in Polygon there are ways around those fees now that you don't really have to do it but I still do a lot of the time because if you're trying to move a position that has some size you know it's gonna fill and sometimes it's just worth sucking it up and paying the transaction fees. And they're really, I mean you guys remember it was literally like four or 500 bucks for transaction for a while there now it's something like 60, 70, 80 dollars for me that's fine, thank you that's fine. Yeah, it's doable. Now I guess what are you most concerned about right now in the markets just kind of like looking at things is it regulation? What does that kind of look like? I'm concerned that I haven't bought enough while the prices have been lower because I failed to sell more of my material items to get more crypto. I'm really not concerned about anything. I think Bitcoin is an unstoppable force. I think they're gonna make it really difficult on us you know but I think that once again if you zoom out I don't worry about those bumps in the road, right? I really do view them as opportunities for adding more to my stack and taking advantage of those dips. But listen, I don't have a fear of regulation. Part of me wants to say regulation would be good to the degree regulation is bad for the average person who is trying to hedge against the government. Right, you want nobody to touch it. It's the libertarian ideal of Bitcoin. But we all love when the number goes up and that requires institutions to buy in huge amounts and they want regulation, right? So it's sort of like we love to say short the bankers long Bitcoin. It's really, really cute. And then the same people who say that myself included get really excited when a bank comes in and buys a few billion dollars worth of Bitcoin, right? And so it's a conflict. It's in our interest to see that happen. And things like an ETF and more clear regulation as long as it's not stupid regulation, I think will help really be a catalyst for the next move. So I'm not really, right now, I think that we had this flood cycle, right? We had the China thing, the India thing, which by the way, we have every time price drops more than 10%, we had the energy thing. Okay, maybe if I had one thing that I think is concerning is the ransomware thing. I don't care. I don't act like criminals have never done anything else not at Bitcoin, but I think that that's like a clarity. I think that's the next thing they're gonna use to try to slow us down. I don't think it will hurt, but I think all the other narratives have been disproven and that's sort of still rolling. Well, even with the narrative surrounding that ransomware, the authorities were able to actually track the transactions because of how transparent the Bitcoin network is. So it's like, it's very power-intuitive. You know it's stupid, right? But crypto makes it easier to hack people. And so like, that's not a point against crypto, but like, come on, we all love crypto, but let's be honest, like it does make certain things easier for criminals, right? And so that's fine. That's the price you pay for privacy and being in a nascent industry. It's funny, I had Mark Yusko on my podcast not so long ago, and he made the point that like he was always mocked for being the investor that was on the side of the bad guys. Because, you know, he's a bit older and he was like, I invested in the internet in the 90s and everyone was like, you're with the porn dudes, right? And then I invested it because it was all porn. And then you invested in Bitcoin in the early 2010s, well, you're with the criminals and the Silk Road and the drug addicts and the, you know, and so that's the nature of every new technology. Is at first it's basically adopted by the underground and then it sort of spreads out from there into the mainstream. So yeah, I mean, I think that it's problematic, but like you said, it's easier to track. If the colonial pipeline, if they had handed somebody a few suitcases worth of cash, I mean, it would have probably been like a movie where they opened it and then like blue paint shot out on their faces or something, but you know, it would have been a lot harder to track that cash, obviously, than to figure out where it went using a distributed public ledger led Bitcoin. Exactly. Well, I do want to get into some like, some quick like technical analysis questions for, especially like our newbies that are kind of tuning in today. So like when you're looking at charts, what are some of the favorite indicators that you like to use when you're doing your technical analysis? It's funny. I can tell you as a beginner, cause we've all been there, you're probably using too much, right? I mean, I can tell you that when I started and through like the first years and years of doing technical analysis, my charts looked like you're on acid watching a Pink Floyd lately like show. There are lines everywhere, like 17 indicators on top and bottom. Like my actual chart was like this much of the screen, there's so much happening. And I think once you advance in your technical analysis a bit, at least not for everyone, but I think you find that less is more, right? And you start to realize that technical analysis is a risk management tool and not a crystal ball. So for me, like I want to be watching the things I think a lot of people are looking at. Like I'm not an MA trader, but when I see the whole community starting to talk about a certain MA, I'll throw it on my chart because I know that, you know, there's going to be bots or algorithms or people trying to trade there so I can front run that or avoid being in that same crowded trade. But in general, I think if you're new, I would say focus on very simple things, price action, volume, right? I mean, if you see spikes in volume, they're consistent, something's gonna happen and price hasn't moved, something's gonna happen with price, right? So I would say volume precedes price is a huge key. So that's something that I really like to look at. And I just look at it on a naked chart. I'm not using like an indicator or a tool or anything. There's like five huge volume bars and prices only move 3%, right? It's gonna go up, it's gonna pop. And so I, of all the thousands of indicators being a Ichimoku maximalist and an OBV minimalist, I don't know, you know, I've always still loved RSI, but I only use RSI because I like to use divergences with RSI when I see overbought or oversold and I see a divergence with price. To me, that's a great potential bottom or top signal. So I'm not even using RSI, I guess, in its classical sense of, you know, when it crosses 50 price action is bullish, things like that. And otherwise I just draw a couple lines. Like I said, you know, my lines are no more important than your lines. And if you draw your lines off wicks instead of bodies, how dare you? How dare you? Like this community gets, people get so triggered by like, but I do leave my chart alone. It gives a shit, I'm like, go live your life, man. And, you know, the only reason you draw some lines and it gives you an excuse to place a stop-loss. The only real only point of a chart in my mind is to justify, even if it's because like I use TLEUs and that's how I found my line, at least now I know what my position size will be, exactly how much I will lose on my trade and how much I'm gonna win if it goes well. And then I have to actually not be a spaz and change that plan once price is actually moving, right? I mean, I would say find a simple strategy that works for you and then focus more on risk management, positioning, position sizing and your stop-loss and then never change it. For the first years, once you set it, don't like, don't go, oh, I placed my stop in the wrong place. It's gonna hit and rock it the other way. We know you're gonna, we know what you're gonna do. You're gonna move it down and you're gonna lose more money. It's what happens. The moment that you take a trade is your most clairvoyant, clear-minded moment when you're not emotional about it. The plan that you had is the one you should stick to. So that was a very long-winded way of saying keep your technical analysis simple and follow your risk management and don't alter your plan once you're in a trade. Keep it simple stupid. Keep it simple stupid, kiss. 10-10 minutes. 10-10 minutes. Yeah. Well, Scott, we greatly appreciate you joining us on today's show for Market Report. Definitely awesome insights and we hope to have you on again on future shows, man. I'm down anytime. Thank you guys so much. Thanks, Scott. Right on. Thanks a lot, man. Thank you. Awesome to catch up with Scott and get to hear some of his expert advice in regards to looking at TA, looking at church, what he's seeing and what the market's right now and ultimately what's gonna happen with Bitcoin and Ethereum here in the future. Now, we are gonna roll things open to the community here. All of our viewers that are watching today, we wanna hear from you. What kind of questions do you have? So let's get right into our audience Q&A. All right. We have our Q&A from the community saying the burning hot questions for today. Let's see what we got. Chime in. Ask us anything. What are you thinking right now? What do you guys wanna know about the market? Anything goes. Let's hear it from our community. Feel free to chime in. If not, we'll just sit here. I just wanna dive into what Scott said there. I like about CT Markets Pro is that it looks at Twitter volume and trading volume. And that is like a period of major things that he uses to analyze. And like he was saying, you all see the trading volume on some spike up real quick and then it like before the price does and that's a really good indicator I've noticed. Yeah. I typically like to use like OBV and RSI and then pair that up with a nice little Fibonacci retracements where we're tracking previous highs, higher highs, those kinds of things. That's why I like to use in a lot of my TA especially when I'm looking at DeFi tokens which is my favorite love trading those DeFi tokens. Marcel, is there any particular like indicators that you like to use? Well, the exponential moving average 50 days, 200 days definitely should be your first indicator tech TA. Whenever the price is crossing the 50 or 200 days it's really strong by ourselves signal for me. Very, very interesting. It's simple. Yeah, yeah, exactly, man. Sometimes like Scott said, don't overcomplicate it especially when you're learning your newb it's really easy to get distracted by all the bells and whistles on like a trading view or that kind of stuff. And actually by using Markets Pro it breaks it down and giving it to you very simply. I think that's what Vortex score and Newsquake do is just give it to you simple. But let's go ahead and just kind of roll this into any kind of closing thoughts. What do you got for us today Marcel? I wanna hear your opinion on NFT market as a whole not just about the Axis or whatever but NFT as a whole because firstly I don't get it. Yeah, so I'm gonna address this and we do have a question from the audience. So NFTs, I'm bullish on everything in NFT. I've been on NFTs since last summer I created art on rareable. I love NFTs, I love the use case because I don't think it's just, it starts out with the artist and the musicians. And I think what it's doing is it's gonna disrupt that industry where you're no longer gonna have the massive labels who are getting in the big benefits. It's gonna transfer over to the movie industry. It's gonna transfer over to the real estate industry. I think the real like all of these industries are gonna start being impacted by NFTs. And it's just starting out with a lot of the art space the gaming space like we've seen with the Axis Infinity. I think there's a huge utility for non-fungible tokens. So I'm very, very bullish on that in particular right now even in regards to a lot of the marketplace stuff. But yeah, so we do have a community question here. Thoughts on exchange coins. Are these coins that you're typically looking at, Marcel? I think most of them are problematic. Why? Because people think that those coins are like securities or equities or your owner of part of the exchange because there'll be a 20% burn every month of the profits and whatever. But that's not what happens when you buy a token because you're not a shareholder. If the company has a profit, it's gonna end up on their balance sheets, not for you. It's not gonna be paid back. Most of the burns happen when coins that were not on market they were not being traded. So for example, BNB, Binance Coin, they issued 200 million coins, but they said from the beginning that in the future there will be only 100 million coins in circulation. So the burn process doesn't interest me. If they pick up some of the money and buy those shares at market, okay, 20% of the profits from the exchange, we're gonna buy those coins that were circulated on a market, on a free market, on a most sum of change, burn them. Okay, that's a different thing. I don't think regulators will allow it, but yeah, that would make sense for me. But having said that, I see future for BNB because now it created some ecosystem. It has Binance Chain, it has Binance Smart Chain, it has Daxes, it has some means of surviving without Binance. But for the most of the Okiax who all be FTTO from FTX, right now I don't see a future for them. Yeah, I'm more interested in the decentralized exchange tokens like a Uniswap, a SushiSwap. Those to me have a lot more long-term viable like standing. Even BNB, if people really start migrating to DeFi indexes, BNB is gonna suffer, even though they have a pretty extensive decentralized exchange ecosystem with PancakeSwap and whatnot. But yeah, I'm really bullish. Like even like we just talked about earlier and Scott mentioned the Voyager token, that's an exchange token. And it has a lot of, part of the reason it popped off was because they, I think they did a Tocaswap and you can, it's really building out as DeFi platform and the ability to stake the Voyager token on there to earn extra rewards. It's an income play. People can get a Uniswap or SushiSwap and deposit them on these platforms and earn a yield on their tokens. So I don't know. I think it's a really good long-term play as a part of your portfolio. And that's not an investment advice, that's just my opinion. Yeah, I'm bullish on certain exchange coins. I think it's worked out for you to explain the difference, sorry, sorry, but I think it's worked out for Jordan to explain the difference between being a liquidity provider and being a WinniSwap token holder. What's the difference between those two? Liquidity providers will put, you'll put a token that you'd like say Voyager token and Ethereum and you combine it on, if you do it on a Uniswap and you're providing liquidity for the exchange so people that wanna use the exchange and trade their tokens, you're kind of being the market maker in a sense but you can suffer impermanent loss. Let's say Ethereum price goes up and Voyager just starts tanking you as a liquidity provider, you might start getting a lot more of the Voyager tokens and your Ethereum in your little stack might get lower. So there is impermanent loss. That's why I try to focus on coins and projects that I really, really like long-term if I'm gonna provide liquidity or even just a simple stable coin pair like a USDC, USDT pair. Yeah, and then there's other platforms that allow you to just simply stake the token whether it's like Dynaswap or even, I don't know if Uniswap has the ability to stake Unit tokens but a lot of the platforms out there do have the ability to just stake the simple token and with that get a percentage or a little piece of the exchange fees from that exchange. Yeah, one of the exchange coins that like I think actually has real utility is BNB because it's used on Binance Smart Chain to facilitate gas fees, all that kind of stuff. When it comes to Dex coins though, it's like there's not really a lot of use case for those in my opinion. And so like when I'm looking at those I am assessing like use case and that's definitely one of the things where it's like cake is ultimately tied to BNB because BNB operates and runs on the Binance Smart Chain. So inherently some of those Dex coins are kind of tied to a lot of the other exchange coins but great question from GH Crypto Guy and that is going to wrap things up. Any final thoughts on today's show for the market report Marcel? Well, I with most of what Scott Malker said he's an expert on TA analysis but I've repeated this. Cryptos do not exist in a vacuum. If the Federal Reserve is doing something, if the China regulation is banning cryptos and miners you gotta be attentive to that. So if you have a platform like CityPro that helps you to spot the major news it's gonna make your life a lot easier, a lot easier but remember we're not in a vacuum. Great point, what about you Jordan? Any closing thoughts for today's show? Yeah, I'm gonna kind of echo his sentiments where like the crypto market is gonna be susceptible to what goes on in the wider world but in my like Scott Malker mentioned it going to 100K is only like a little bit over a two X from here. Nothing has changed for me in the long-term perspective of cryptocurrencies and why I got in originally back in 2017. I'm a long-term holder. I don't look to try to trade it in out because I don't wanna deal with the tax implications. So if that's your perspective on it too try not to listen to the data stay fud and like get all worked up by some of these traders and analysts and just stick with your intuition or like your choices and I don't know go outside and enjoy the sun if you can. Buy and hold, buy and hold. Love to see it, love to hear it. We appreciate everyone joining today and a special shout out to our team the production team for today's show. If you haven't like, subscribe go follow Cointelegraph, YouTube, Twitter, Facebook, Instagram, all the platforms go check out right here Cointelegraph. We appreciate you guys joining today for the market report until next week. Make sure you're tuning in 12 o'clock on Thursdays. Thanks everybody. Have a good week.