 guys, what's going on? Jeb here, and welcome to the inaugural episode of Market Talks, a show brought to you by CoinTelegraph. Today, we are joined by a very special guest, Brian Jue Trading, also known as Jake. My friend, how are you doing? I'm good. Hello, everybody. Welcome to the show, my friend. Well, we got a really cool video that we want to roll to kind of introduce you. And then we're going to jump into an interview. We're going to talk about some of the most pressing questions in cryptocurrency. If we're ready for that, then let's go ahead and jump into it. Jake, welcome to show, my friend. And welcome to the first episode of Market Talks. Super excited to jump into this. How are you doing today? I'm doing well, and I'm excited to be here. I did an interview with CoinTelegraph about, I think it was in 2020 after COVID. And I haven't been on since, but I really enjoyed it. And I'm looking forward to it. I got some interesting stuff to talk about, actually. Good deal. Awesome. Well, Jake, we got a lot of things we want to talk about today. I want to ask you a question. You probably get this a lot. But I saw a video on your channel where you kind of broke this down. Where did the name Korean Jew credo come from? Can you kind of break that down for a second? I like that story. Yeah, it's interesting, because now that we're in more of a woke culture, sometimes people actually get offended by it. But the true story behind that name was as a kid, I grew up a child of a biracial marriage. And my father is like a Brooklyn Jew, and my mother is from South Korea. And back then, I mean, I'm a boomer. I'm a little bit older. But back then, there was bullying, that type of thing. Everybody kind of broke each other's chops. But it was something that really affected me as a child. People would ask me, what are you? Like I was some sort of alien or something. And I would have to explain that I am not Chinese. I'm Korean, as well as Jewish. And both of these were not predominant cultures where I was growing up. So it was something that I was kind of ashamed of, not going to lie. And as I got older, I decided to make that my strength. But what was once something that I was ashamed of and a weakness, quote unquote, became my strength. Because guess what? People tend to believe that Koreans and Jewish people may know a thing or two. So when I got in crypto, I didn't know what name to use. And I'm just like, I'll just be Korean Jew. And people are like, oh, I like that. I love that. That's got a lot of character to it. And I think that's what we need in crypto are some strong identities. And I think that's why we're all in Bitcoin is for the sake of identity, decentralized identity, and protecting our identity and the valuations that we hold in our identity here in the cryptocurrency space. Well, Jake, or you also go by KJ, what do you think about the current market in Bitcoin? What do you think the current market condition is? Well, clearly, clearly it's been very bearish, obviously. It's one of those things where like me, I do TA. I do different levels that I look for. But I'm also very much focused on sentiment trading. I monitor sentiment very carefully. And there's different strategies on how to do that. It's not as simplistic as you find a dummy and just say, oh, this guy's long, I'm short. However, that does tend to work sometimes if you find the right person. But where we are now, being that we broke 20K, and I know we're going to talk about that, I actually believe that this could be the area where things are certainly starting to be more appealing for risk on. And I don't believe that we're just going to rock it up to a new world time high right away. I think there's going to be a choppy, painful period that's very boring, difficult to trade, especially for newer people. But there are a significant amount of criteria that I've been looking for in a bottom from 2020, actually. 2020, as we're in the bull market 2021, I'm already planning ahead like, OK, eventually they'll end. And the bottom of the next bear market is going to happen when these criteria are met. And a lot of those criteria are being met currently. So on a lower time frame, I believe there's still a bit more downside, maybe retesting these lows. But wherever the next dip is, I think that could be it, actually. So that's about that. Because how? Because you OK? Yeah, I'm great. Good deal. Awesome. So if everything is getting close to a bottom, you actually just said that it could be getting into risk on territory. A lot of people have been in a risk-off mentality. They've been, you know, getting out of altcoins. We've seen things like Bitcoin dominance climb as altcoin dominance has fallen by the wayside. And people seem to be taking this risk-off approach. Even people that were in Bitcoin crypto from the outside markets are now looking at Bitcoin as risk-off. When you say that we could be going into risk on territory, would you think that maybe we've gotten very close to the bottom? Because never before in the history of Bitcoin have we gone below a previous bull markets all the time high. Could we be getting very close to that bottom? And now we see risk on. And people from outside the market start coming back relatively soon? I'm not certain people will start coming back relatively soon from outside. But it's interesting you bring up BTCD. Because I would like to discuss that in a little more detail, because I think it's very important. That's one of the criteria that I was looking for. But as far as what I'm seeing, yes. Clearly, stable coins are rising very, you know, this was not the same in previous cycles. You didn't have the confidence. Back in 2017-18, one of the main issues was people were very scared that Tether would collapse. So when they were leaving the market, they were completely leaving the market or going into Bitcoin. Now you're seeing people exit the altcoins into USDT or USDC. And it's funny you bring up BTC dominance, because the stereotypical BTC.D chart that people view on Trading View actually, in my opinion, is no longer valid. And you can see that by the behavior it exhibited when Bitcoin broke down. So when Bitcoin broke support around 36K, that was clearly a very bearish sign. Key moving averages were broken. It was showing a bear flag formation while BTC dominance was looking bullish. And it had been consolidating for a very long time between 1450. However, when that dump happened, BTC dominance actually began to, I think it was maybe five or six dailies in a row, down a super bearish price action. So that would typically indicate people are taking risk on alts. But that was obviously not the case, being that alts were dumping harder than Bitcoin. And what was happening is in that chart, you have stable. So basically all the money that's coming out of alts and BTC into stables is going into, I'm sorry, alts and BTC is going into stables, thus creating the illusion that dominance is dropping when in reality it really wasn't. So that's one of the things that really kind of fooled people. But as soon as that was happening, I was like, all right, this chart is kind of bogus now. So we created a pairing with BTC.D plus USDT plus USDC, that gives you a more clear picture of what's happening as far as dominance, where it's actually, all coins are not gaining against Bitcoin, they're dropping. And they're dropping to levels that I've been watching for for two years now. So that, when I said it was one of the key criteria for me, alts, BTC dominance is actually getting very, very close to a place that makes sense for alts. And it's so funny because I hadn't even looked for it until last Sunday. And a friend of mine, this guy named Stelman, who's a trader and analyst, was like, hey, try this chart. And we pulled up the chart right live on a conference call. And I was like, holy cow, this is in an area that really makes sense. And at that point in time, I think Bitcoin had just went to 17K or 18K. And there were a lot of things going on that made sense for alts off that level. Well, then a follow-up quote, because that's extremely interesting what you're talking about, because like you said, that does break history here. If we look at my screen, then I can show what you're talking about over on CoinMarketCap, but we also have it up here on BTC.D, if I can bring that up. You can see right now that the dominance on Bitcoin dropped from 48% back on the 12th of June, down to 43%, almost 44%. If we look at global cryptocurrency markets, then you can see that I have five of them charted here as far as dominance. Bitcoin's dominance hit a local high on the 12th. We go back to price action. The 12th was just a couple of days after we started this major dip, as you were talking about, just to get people a visual. But now the trend that you're talking about, I think this might be speaking to a major bottom going on in the market, because we don't see this happen very often, because when we talk about risk on risk off, we're talking about two camps. We're talking about, for example, we would be talking about the risk off people in crypto getting out of altcoins, getting into Bitcoin. But then we also have the people outside of the market getting out of Bitcoin, because they see that as risk off, and then outside of those two camps, we really have what we call like bedrock of the market. They just don't want to leave at all. They want to stay in crypto, but maybe they don't want to be in Bitcoin right now. When we're seeing money stay in the space, but even leave Bitcoin, leave Ethereum even faster, and move into stable coins, does that mean we're starting to see people get risk off of Bitcoin in the short term, in case it drops lower, so they can buy an absolute bottom, and then get back in, rather than leave the space? Is money now starting just to circulate around the cryptocurrency space, because what money is left is hard money. These are long-term holders. These are people that really understand crypto, and a lot of the money might just start changing hands, and the stable coins instead of completely fleeing the space. If so, does that mean that the bottom might be a lot closer than we thought? Right. Well, the thing about stables is back, like it's way easier to get exposure back to crypto if you're sitting with a wallet of Tether or USDC. Whereas if you're cashing it out into your bank account, then it's a whole extra layer of getting that money back in, for most people, and if the news of the last couple of weeks has showed us anything, even the top players in the space have that, a lot of them have that bit of degenerate kind of impulsive behavior, where if you're sitting on a wallet full of Tether, or if you're sitting with a million dollars in your bank account or whatever, if you get the emotion like, hey, the bottom's in, I gotta get back in, it's way easier to pull the trigger faster if you're sitting in stables, as opposed to having to go through Coinbase or some other off fiat ramp. But as far as like the bottom, the bottom being in, could I share my screen for a second because it would help for me to explain what I'm talking about with the BTCD? Is that possible? Jeb? Yep. Oh, yeah. Yes, I think you can show it. We're into the looking glass right now, but if you switch from Zoom, then we'll be able to see whatever you have. It's up right now. Okay, so it's up. All right, so on the left here, this is the daily chart, the modified BTCD chart I was talking about. We might have to switch from the, it looks like we're getting the Zoom feed from your computer. We might have to switch over to the chart. I don't know if we can see that right now. Let me see, let me see. How about now? There we go. Now we can pull that up full screen like you had it. Okay. There we go. So let's start with BTCD, the regular one that everybody was using, right? You see this bear flag here that broke down and led to the low? In this area, I was very convinced this was going to break down and this is kind of like your alt season right here, right? But as this is happening and breaking down, I was talking to friends and we're like, when the bear market hits, this area is gonna be revisited. And I believe that due to innovation, the amount of new projects coming out, different use cases, that this chart will always be in a bear market. You're not going to see these levels again because it's a ratio and there will continue to be innovation in the space. So this is something that will always be bearish in my opinion. And I don't think we'll ever see these levels again above 70. So I was looking for about 62, something in this range. So as BTC is breaking support and it's bearish and this is going up, I'm like, oh man, like I think we're definitely gonna test 50. And if that breaks, we're going right to 62 and that's where you want to take risk. And also, as we can see, this has been dumping but that's mainly because of stable. So when we looked at what this looks like with the inclusion of USDT and USDC, you can actually see where we hit at the low is 62 on the dot. So you're kind of bearish retesting this structure here. And my personal thoughts are that we don't go much higher than this. So is there more room? Yes. So like a move from 58 to 65 or something could happen and that would be extremely painful for altcoins if it did. However, anything up here, it makes sense to me like from an alts versus BTC perspective that you can take some risk on them. If this were to reject, it's also super good for alts. So that was one of the criteria that I was looking for and I was looking at, yeah. So then based on all this data, because for the person that's watching this and they might not fully understand what we're talking about with the chat, I'm tracking with everything you're saying but for somebody that's, you know, you're the one person this month that just got into cryptocurrency, welcome to crypto. We hope that you'll stay. We can go back to full screen now. Whatever we are seeing, if you're the one guy and you happen to be watching this stream here on Cointelegraph, subscribe to the channel, by the way, Cointelegraph, make sure that you do that. What do you do? Should we be getting into all coins right now or should we be getting into Bitcoin? What's the take away? What's the, just a pithy takeaway that somebody can walk away from what we just discussed with? What can people do with this information? Okay. If you're just getting into crypto, congrats. I mean, geez, it's interesting timing but it's way better to be just getting into crypto now. Like you're basically, you're entering when the largest fund got destroyed. So as opposed to entering when the most people enter when Bitcoin is at 60K or 69K, that's when the most retail typically buys is what is the top. So if you're somebody new and you're just getting in now, I would say congratulations and you did a good job with your timing because based off of what we're seeing at price as well as everything, it's not just sentiment in crypto, it's sentiment all over the world. People are now starting to say, oh, a recession is coming. Like my wife, my wife's like, hey, Cardi B said a recession's coming. So I'm like, huh, that's interesting sentiment. In the same weekend, my dad called me to see if I was okay. You know, I'm pretty sure- I've heard that from so many people. So such and such friend and family called and said, are you okay? That's how you, I remember at the end of 2018, I was walking around college, college campus and this guy, one of my friends walks up to me he's like, Jeff, I know you have this channel you've been running for the last year and a half and I heard it, it was doing pretty well. Are you okay? I heard Bitcoin drop down to 3,000. I was like, yeah, same code, same fundamentals. These are people that are not necessarily in the market but this is what they're receiving from all their sources. So that just because, I mean, and like you said, everybody got those calls. So when stuff like that happens, I tend to pay attention. The same way at the top, everybody gives you the call, how do I buy? How do I get in? You know, so you have that, you have that. I'm gonna lay out the bullish pieces for you. You have the sentiment, right? You have three AC, Celsius, Babel, all these large entities in trouble. That's another piece. It's going across, all across the board. Miners are capitulating, the price of gear has gone down. A lot of these things are lining up from that sentiment perspective. You have Bitcoin breaking 20K, which everybody said every other cycle, previous all-time high was never breached. Okay, well, they breached it. Price can do things that you don't expect. Just because that happens doesn't mean anything really. I don't buy into that. The chart will tell you this story. So you have that. As well as Sam, Bankman Freed from FDX said he's doing, he's gonna consider bailing out crypto, a bailout. And people are somehow interpreting that as bearish saying things of the nature of it's not healthy, let them all die, blah, blah, blah, this type of stuff. I understand it, I get it. And think about where Bitcoin came from. There was a huge bailout by Obama in 2008, subprime. And people were like, we can't just keep printing money and bailing out the rich people, but guess what? Go look at what the charts did for the next 10 years after that. So the fact that there is a bailout occurring in crypto is not a bearish thing. That's another bullish thing that you can look at. Some of my favorite traders and people that are just absolute legends in the space, Crypto Cobain. He didn't say anything, but if you look at his feed, three days ago, he was retweeting some old tweets that would lead you to believe that perhaps he is a buyer here. Gigantic rebirth, the guy with the legendary short. He said, you know, look at his feed. Seems like he's risk on as well, we're at least dabbling, testing it. And Don Alt, another great trader who most of people have been on the wrong side. I can remember many times where he was bearish at key, key levels. And the majority of sentiment was against him. Well, he's been bullish over the weekend. And the majority of sentiment is against him. So you have that. The last one, obviously, I'm not a big fan of the whole, you know, Bitcoin as a hedge against stocks or something like that or against whatever people say about Bitcoin being a hedge. It's a risk asset. And when you look at like SPX, for instance, or Spy, the level that a lot of traders have been targeting is around 350. You have the 200 weekly moving average. And people have been looking for that level for a very long time now. And what I would expect to happen here is this is going to probably go slightly below this level and spend maybe a day or two below to draw in shorts and then shoot out of it. So, you know, where that leaves Bitcoin is yet to be seen. Will we sweep the low? Possibly. But once this is hit, I think that's like, that's like your optimal time to kind of like really start to get involved again. But back to the original question of, you know, you're new, you don't know what the hell this guy's KJ is talking about. Here's for lay people what I think. I think that this is a bearish trend, clearly. And the most money you're going to make is like in the trend. So you don't need to buy the bottom of this and, you know, to try to like be a hero. You can always wait till the trend has reversed and you're gonna be able to make plenty of money because the worst thing you can do is wreck yourself at the end of a trend and then you miss all the upside. So, you know, honestly, like DCA'ing into Bitcoin is probably the safest move. And I feel comfortable doing that at these levels between like 18 to 20, something like that. You just buy the same amount of Bitcoin every week or whatever. And if it goes lower and you have the ability to buy some more, then you do that. But I would wait until like we go a little bit lower. I think there's like some downside coming in the upcoming week or so, like next few days. So once that happens, then you can do it. I love all of that, but I got to ask you a question. Do you think that the bailouts were bullish for the traditional markets? And so, Sam Bankman Freed came out with FTX saying there'd be a quarter billion, $250 million bailout is basically what was being called. BlockFi would be probably in that. Would you say that that's a bullish thing for crypto? Would you say that that's a big enough thing? Should we be trying to get cryptocurrencies bailed out or should they be allowed to? Let's talk about that argument a little bit that you brought up there because there is a big argument in crypto. No, enough of the bailouts. With the Terraluna fiasco, we could even talk about that a little bit. Could we see another Terraluna fiasco? If so, how should we handle that? Should there be a bailout on that? That's a big topic right there as far as bailouts are concerned because one of the things that I talk about all the time is that if we don't build this industry on the principles that it was founded on of decentralization, of putting people above profits, of making sure that we take financial sovereignty out of the hands of central banks and authorities that can do these things called bailouts, then are we no different than the actual industry that we're trying to take over, centralized finance? Are we no different than them if we're saying that we need a bailout to try and get out of this crypto winter? Are we no different than them if we're saying that Bitcoin is not, in fact, a hedge against inflation? So what would you say to that? Should we be looking at the ways that Bitcoin gets out of a major downtrend in the same way that the equities markets do? Or should we be looking to ways that were homegrown and crypto? Because Bitcoin didn't go to a $2 trillion market cap on a bailout. It got there on fundamentals. Those might be bullish things, but what should we be seeing drive the market movement to the upside? Because how we build a bull market will most certainly determine how that bull market goes, how far it'll go and how sustainable it'll be. Well, the bull market was built by printing money. It wasn't just Bitcoin that went up, every risk asset went up, and stocks went absolutely crazy. And I think that the key difference between Sam doing a bailout and the government or the Fed is that Sam's doing it out of his own coffers. The taxpayer is exactly fronting the bill for that. He's decided, he's a little concerned that they might kill the goose that laid the golden egg. So he's not doing it completely altruistically, I believe, he's allowed to do whatever he wants. But when you look at, I have the chart up, look at 2008 where stocks were and where they went from there, I don't really care how people feel about it. It just price is gonna do what it does. And wherever price needs to go to catch the most people off sides, it typically does. And as far as the recession and what's going on in the world, I'm not gonna kid anybody. It's really dark. It's dark. It's scary. It doesn't look like things are gonna get better right away. And that's just a fact. But that being said, I remember feeling that way during COVID, like who's gonna buy? Who will buy this? There's a pandemic going on and people are gonna be hoarding cash. Well, guess what? That's not what happened at all. And now with the amount of tether on the sideline or stable coins on the sideline, as well as just general sentiment of people saying, I gotta take my money and run. I can't afford to lose any more money. This type of stuff, that creates a buying opportunity. And that's the way I'm looking at it really, because if nobody has money to buy it or is too scared, then somebody is and they're gonna be on the right side of it. So with all these factors, because there's a lot going into this right now, as you talked about, we're almost in the same area as the pandemic dropped back in March of 2020. I almost said last year, I can't believe we're halfway through 2022 now. When we saw that drop happen, we obviously rallied 1,600%, $3,800, $65,000 in the span of 320 days or so. That, I agree, a lot of that did have to do with money printing because so much liquidity was injected into the economy that even though I would say the recession started back then when we shut down the entire global economy, we had so much money coming into the space that the prices of everything went through the roof. Lumber doubled and tripled in price. Vehicles went up. You know, everything, all these commodities, not literally defined commodities, but all these different assets that people purchase went through the roof. And we're not necessarily seeing that. We're seeing a tightening right now. We're seeing balance sheets around the world be reduced. We're seeing interest rates go up. Like you said, it is dark right now. So there's a lot of factors that are bullish in crypto, but also bearish in geopolitics and also bearish in global financial markets. So what should the average investor right now be looking at in the next six to 12 months on Bitcoin should we be looking at, you know, an accumulation phase where we trade sideways, like you talked about $18,000 to $20,000 cost averaging and then a bull market taking off into 2023? Or should we be looking for a much lower drop before we see something like that occur? And we'll leave this as our final question. Then we're going to answer a couple of the questions in chat. But what are your thoughts on the next six, 12, 24 month outlook for Bitcoin and these markets? Projecting that forward in advance can be difficult. I mean, I'll give you what I think, however, like I said earlier, I'm looking for a dip and I want to see if the low holds, if it runs it, you know, and if we break through with volume below the 17K level, then, you know, the potential for things to get really bad, you would also see S&P breaking the 200 weekly moving average and like not returning above it. So things could get really, really bad. And in that case, like you have to know when like, if you're taking risk in here, it's not like, hey, I'm going to hold Bitcoin to 9,500 because that would be like the next area that I really would be looking for it. That's like the doom level for me. Like I don't really think it's going to go much below that if that happens. However, what I'm looking for is, you know, if you've ever seen the Wall Street cheat sheet, which is floated around so often now and everybody's quite familiar with it, the structure of that is has the whole way up, people were looking for like your prototypical top and complacency shoulder, you know, with the blow off wick and that. And we really got something completely different at the top than what anybody was, for the most part, most people were expecting, looking at historical tops in all sorts of assets. So I even found myself kind of transposing what the bottom looks like normally, like, you know, from like 2018 bottom where you hit 3K and you bounce to 45 and slow lead back to 3K and then you're bullish again after, you know, like a few months of that. Like I'm not certain we're going to get that. I think we may actually get a spike up and this whole range between like, I don't know, 25 and 32 that we spent some time in and then broke down to here, we may actually reclaim that range and then do the chop somewhere around there. That's contingent upon this level at the low holding though. If we start to, because like you're looking at the weeklies, there's no reason to be like, hey, this is the end, aside from all the criteria and sentiment that I laid out before. So it's hard to say, I can't predict what's going to happen 24 months from now or 12 months from now. I can only kind of take it, you know, a little at a time and look at all the different indicators, not indicators, different peripherals that I'm seeing. And, you know, my optimistic self, I believe that we retest the lows in some form, either front run it or take them out. And then there's some upside, excitement, BTC dominance drops, probably a good time to play some alts. And then the chop comes and it just chops everybody up and gets boring for a while. And stocks would have to become bullish again for this to truly be in a bull market. Good deal, Jack. Well, we've definitely got a lot of insight out of that. Let's go to a question or two from the chat. We have a question here from Elliot Locke. We can throw that up on the screen here. He said, at CryptoJab, and obviously this is, I'm going to ask you this, Jack. I want to hear your take on this. He said, what alts should we be looking at? Top 20, top 10, top 20, and should we be getting in by use case? So do you have any thoughts on what are some of the major altcoins that we should be looking at, potentially accumulating in dollar cost averaging through this bear market? Hmm. You know, I think the best advice I can give in regards to that would be, you're going to want to do your own research. And this sounds very cliche, but if you don't do it on your own, and like I'm not going to sit here and tell you which one to buy because your insight may be better than mine. And I don't want to kind of steer anybody off. A lot of the things that happened in this cycle took me by surprise. So that may not actually identifying what the next trend is going to be, may not be my skill set. So if you do research and you have conviction, go with what you found on your own, in my opinion. I think as far as the way you diversify yourselves, don't go all in on one and say, this is my ticket because you could be wrong. And you don't want to miss the potential upside. So you want to diversify yourself in a way. And there could be some things that are smaller that you find a gem. That's where you're going to get your thousand X from. You're not going to get it from, most likely from something like Avax or Solana. However, you want to have something from that basket of, like Solana seems like a pretty safer play that has upside if you want to take more risk than just buying Bitcoin. It could, you know, like something like that is good to kind of anchor yourself with, but really do your own research, have conviction. This is a good time to spend time doing that. This is the time to really kind of dig into the communities and understand the projects better. And, you know, that way, once you've done that work, you'll have the fortune to hold on. That is all some great, great insight there. Everybody who watches our show will be probably laughing in chat right now because you're talking about potentially investing in some Solana. I have a very strong opinion on Solana. It's not a good one, but we can leave that for a minute. You'll have to come back and no, I'm not offended. I just think, man, Godly, I wish I had a known you to thought of Solana. We want to talk about that and gotten into a debate on that. You'll have to come back and we'll address that at another point. I do have one more question for you here. Actually, it's a statement. I want to get your take on this. It's from, we'll get this to write the first time. Lotu Fama Gallo Maui. He said, Bitcoin is backed by the US dollar and the US dollar is no up, is not up, I assume is what he meant, is only in the month of May that it was down. So what would you say to the statement that Bitcoin is backed by the US dollar? Naturally, it's not actually backed by the US dollar, but how much of Bitcoin's value comes from the stability and the, you know, growth or regression of the US dollar's value compared to other markets? Well, current, I mean, dollar is... Is there any correlation between the Dixie and Bitcoin? Well, Dixie is up. It's been up for the past year or so. It's quite bullish. And, you know, when you're talking about currencies, they only have value because we decide that they do. Society decides that that has value. You're able to transact and really kind of looking at it and you're just really looking at what it can buy and what it's purchasing power is worth. And, you know, I don't really understand the question, to be honest, because like you said, Bitcoin is in fact backed by the US dollar, so I'm just confused by it. So I'm a little confused by the statement also, but I think what he might be getting at is there a major correlation between the performance of the US dollar and the performance of Bitcoin? So for example, if the US dollar is being hyperinflated, it's not actually being hyperinflated, at least not officially reported. If the US dollar is being majorly inflated, what impact might that have on Bitcoin? Or if the US dollar is stabilizing and inflation is coming down, what impact might that have on Bitcoin? Because naturally, I think we would both agree, inflation of the US dollar over the last two to three years has had a big impact on Bitcoin. So what correlation do you see between those two metrics? So it's definitely correlated. However, the sensitivity of it is not always precise. Like you could see Dixie go up in a day and Bitcoin go up in the same day. And in fact, when Bitcoin bottomed in 2021 in May, around 29 and made that all-time high at 69, which is a crazy run, if you look at the chart of Dixie, it was actually bullish the entire time. And the fact that Dixie had shown a double bottom and was bullish in crossing key levels, that actually kept a lot of people, I remember discussing with people as Bitcoin was running and every $5,000 people were like, well, what about Dixie? It keeps going up. And I'm like, listen, I don't know what to tell you, I don't know why that's happening, but Bitcoin is bullish. That's all I know. It's a good peripheral, but you don't wanna beast every trade off of that. Like at the end of the day, the chart that you're trading is the one that matters the most of the asset that you're trading. And when you think about what that top looked like for stocks as well as Bitcoin, I mean Jerome Powell came out and he told us basically at the top that the Fed is unwinding positions. And that's like basically say, hey, we're selling the bags that we bought to support the market and COVID, like that's a very clear bearish signal from one of the most powerful people in the world. And when stuff like that happens, either direction, you have to pay attention to it. And back to what I was talking about SPF, I follow the money. So he's one of the most powerful people like it or not in crypto and he's talking about doing a bailout. So that's bullish to me. That's just how I see it. Like I pay attention to that type of stuff. Well, Jake, I need two things from you. Number one, if you have any final thoughts, I'm gonna need those. And number two, I also need the audience to know where they can find you on social media. So whichever order you wanna answer those in my friend, take it away. Okay, so final thoughts. I mean, we definitely covered a lot and I'm sorry, I'm just like a free flow. So I'm just like all over the place. But in general, like I feel as though, you know, you don't wanna go crazy. Like let's say you have a certain amount of money that you have to spend. You don't wanna use it all at one level down here because the amount of time it takes for this to pay off is unknown. Anybody that tells you they know, they don't really know. You don't know. Price has to do things that'll point you in the right direction. And you have like sentiment and other things going on in the background that can also help you make a conclusion on what's going to happen. But everything is always an educated guess. And you see a lot of influencers and famous traders that they do stuff like delete tweets when they were wrong and things of these nature. It doesn't matter. The greatest traders in the world, we all get it wrong. And I feel like it's good to kind of get rid of the culture that you have to be right all the time. Be okay with being wrong. Because if you think you're gonna be right all the time that's how you take a horrible loss. Because your ego gets too big. So, always be willing to go with the flow. That's how I'm seeing it. I was very convinced that 20K was gonna break. I didn't know exactly where it was gonna go, but I knew it would be ugly. And I was looking for 9,500. But all these other things that I was discussing earlier on the stream started happening and lining up. So I'm like, you know what? I have to change my opinion now. I don't think it's gonna go there. But that could change tomorrow. As a trader, you have to be able to switch on the fly. So that's my final thoughts. If you wanted to follow me on Twitter, I'm at KoreanJu Crypto. I also have a trading group called Trading Dojo. It's trading-dojo.com. It's myself and four other admins. These guys are awesome. It's not just me. We all kind of have our own skill sets. And I was hanging out with a bunch of the members last night at NFT New York. It was super fun. We've been trading together for years. So yeah, also YouTube, KoreanJu Trading. I'll be doing a bunch of your content, some live trading. And I really appreciate you having me on, Jeff. It was fun. Absolutely. Well, KJ, I really appreciate you coming on. Hopefully we'll be able to do it again sometime soon. Guys, that's all we got for you for this show. Make sure to go and follow him everywhere that he just listed. And also make sure to follow Cointelegraph everywhere. They are everywhere at Cointelegraph here on YouTube, over on Twitter, and on all of your favorite platforms. That's all we got for you today. Before I go, I do just first want to thank each and every single last one of you for watching, as always. And I will see you guys in the next video. Peace.