 Welcome to the last set of news to get top stories in crypto and bringing our bite-sized pieces So today is the thumbnail suggest looks like Tesla I'll be getting back on them bandwagon as far as accepting cryptocurrency payments And I don't think this is like the biggest news of all time But I think the optics is pretty astounding also take a look at how well the ripple lawsuit is going against the SEC and We'll finish up with a little bits of our masterworks deep dive video that I did which we'll just go over Briefly, so let's just jump right into it and take a look at what the heck is going on with the market today So today's Wednesday It's nice day outside. Just not a really great day inside for the market We're down six percent and you have to understand I mean we had a pretty big run So there has to be little pullbacks here and there and that's just the the nature of the beast We know that in crypto. I mean we were we were getting pretty spoiled honestly We were seeing some some major momentum We had two ETFs approved one went back to back. We had nothing but good news So we're like, it'll just go forever great lesson to remember Nothing goes up forever. So we're at below 2.5 trillion Looks like we lost about six percent in the last 24 hours and the sentiment today. Yeah, understandably a little bit bearish I'm bullish long-term as I always am in the crypto market I could really care less on the day-to-day operations as far as where things are going because I'm not a big trader I don't do leverage trades. I just kind of dollar-cost out. I would you know, like the last four years worked out pretty well, but today If you've been trading it might be might be a little hurtful, especially those long positions So here's what we got. We've got Bitcoin looks like we're doing Okay at around 58 7 looks like we hit that risk that's Level of support at 60 and finally just broke down. I mean after you hit it so many times It has to Ethereum drops low 4,000 finances in that third spot 452 tell nobody cares Cardano below $2 Everything's taking a hit even Solana 187 even Solana went below a certain I mean, I think I picked up today like around 182 I wasn't dollar-cost averaging, but I'm like, man, that's a pretty good price So I had to I had to snatch it up and what else we got everything's down except Except for she but you knew and the last seven days is up a hundred and seventy-three percent It's at in the last 24 hours up 60% and I think at some point it actually flip flop with doge I saw something a little snippet on George's channel or cryptos are so hey Congratulations to all you she but you know holders and I have no hate for anybody. I mean great I'm just under the realization now and let me just blow this up real quick This is not investment advice. This is just investment opinion I'm just on the assumption now that we're all gonna be rich essentially with with what's going on in the crypto market Even though there are some huge peaks and valleys in all honesty I mean just if we just look out the long-term like we always talk about There's no way it can't go up to 10 trillion 50 trillion 200 trillion the next eight years I mean eight years to you know hundred X sure I'm along for the ride. Everything's going in the right direction. So these day-to-day operations don't care I just kind of zoom out and I go this will wrap so anyhow That's what we have right now for the market and then just so you know Sheba you knew went up so high and so fast it actually crashed coinbase Which is not surprising coinbase is known to do a little crashing here and there and then also if you take a look at traditional markets The S&P's down a little bit NASDAQ up the slight the Dow's down Russell's down US dollar Who cares US dollar US dollars awful and then the but the big loser today is the Bitcoin index and of course with the ETF from pro shares Taking quite a hit and last five days. Remember it started around 40 dollars jumped up pretty pretty well Then just took a little slide sideways Jumped up sideways Dropped and then of course that is today the 27th and we're down the 38 mark and then also Valkyrie The ticker is BTF by the F and dip, right? They've got it at same type of thing my 25 dollars took a big Dip and then trade sideways and everything's going good Monday Monday for this one And also the brochures did pretty good, and then it was just jumped up trade sideways I know big deal and then bam down it goes and then down it goes and then we're kind of doing a little recovering So that's what's going on as we take a look at these markets. I cannot Help but remember what Ricardo Salinas says or said Ricardo Salinas is the second richest man in Mexico Multi-billionaire good for that guy, but he didn't make a good point, and I just cannot forget what he says he goes According to him a Bitcoin futures ETF could prove fatal the assets price as it gives big institutional investors the power to use Access leverage buying and then dumping and he goes look I've been trading futures for 40 years It's all paper-based any bank can do whatever they want to and it's a high time for manipulation But you know honesty, I mean everything's manipulated so it really doesn't matter So again if we're looking at the short term the ETF was good nice feather than the cap I'm happy with it But I'm not surprised that you know it it's volatile just as much as crypto is and that's what we have in the market And then lastly just so we take a look at the lat the last four hours for us four-hour candles We can see that we've had Quite an up-and-down It's the RSI is going down to the oversold Category and it's kind of just picked right back up But we were we had a nice support level around 60 and then it just kind of just fell through and now we just see that It's gone from this is actually right here is the 60 mark and see it really went through then it really picked up again But again 58,000 59,000 you can't keep hitting that level of support without breaking through anyhow That's what we got with what's going on the market and now Let's get us some good news which is great tesla welcome back Tesla informs the sec it may restart transaction crypto. Here's the thing They're not going to just put it in there if they're not going to do it I'm sure they want to do that because they they all see what's happening And we talked about jack dorsey and him talking about hyperinflation Or stagflation and whatever you want to want to put it into but we know That the dollar is not a is not something to be into for the long term. It's great for short term You know, you can't buy groceries With with with crypto. I mean well, you can and I'll sell the door I mean you can in some places, but in all honesty, it's a big dollar is a short term thing I think crypto is going to do really well in the future just right now We're going through the stumble block. So tesla knows what's going on and they said like this Look, the company explained that during the nine months and it's September 20th It purchased an aggregate of 1.5 billion in bitcoin Unfortunately, and it's q3 in his report. It shows that it's now with 1.26 billion. So Yeah, I lost about 240 million. What are you gonna do? The sec filing further states And this is what they said. We may in the future Restart the practice of transacting and cryptocurrencies for our products and services And here's the thing if you're any kind of vendor online or wherever else you want to be Just so you know that when you're transacting and In debit or even in credit or you have to do wire transfers it costs money because there's a bunch of middlemen So if you can just eliminate that why not and especially if you can take crypto I don't care what he takes he takes doge sure whatever But I mean the the fees themselves will be lower and you're into an asset that You know isn't going to depreciate because of hyperinflation or just inflation. So I don't really care so much About that this is going on and it's you know, they're taking payments That's not the big story the big stories again. Just look back at the big picture The optics of tesla coming back in and saying we are going to start accepting cryptocurrency What it means is trust They are trusting and they start to believe in the fact that cryptocurrencies are going somewhere And of course everybody touts about how a genius Elon musk is so they say well, I don't really I don't really understand crypto that much but uh, this guy who's sending people to mars And is uh is digging tunnels under the la system and has made these great cars Is doing everything else believes in cryptocurrency? Maybe I should and maybe I should get into that Maybe I should do some more research the optics on that Is amazing and hopefully it actually goes through so let me just think about that in the comment section Hopefully it leads leads to a little price action. Let's go on to our next piece. We're ripple Ripple is the hero and this was uh brian armstrong coinbase that just went down because of shiba, you know He just put a nice little tweet out and people are thinking well, maybe he's saying this because he wants to re-list I don't think that's it. But uh, maybe so this is what we got He states uh, the ripple case seems to be going better than expected Meanwhile, the sec is realizing that attacking crypto is politically unpopular because it harms consumers. That's the big thing the sec is there to protect the consumer the consumer base from fraud And unfortunately by them stepping in and talking about well, this is security security. It hurt a ton of people And uh, a lot of those people including myself That's including myself Uh ripple holders xrp holders, excuse me And if they keep doing these same things They are it's enforcement through legislation and they can't keep doing this stuff And what's great about that is that there was such an outcry and brian armstrong says this the irony is that the people They are supposedly protecting Are the ones attacking them and he references this whole thing from this fantastic article Written by rosin latin, uh, the crypto i uprising the sec didn't see coming I know we always we complain and we talk about it, but I think the constant Cammering with the sec and sending information and going you're not helping me. You're not helping me. You're screwing me This is bad The my investment went down because of you you are not protecting me I think that just kind of resonates and that's the exact opposite of what genzel's trying to do Some people say well, genzel's just there to uh to fulfill his own agenda. Perhaps I just think that he's trying to do his job But he's just not doing a good job at it anyhow, so i'm just gonna read this little piece in this article I link it in it's a fantastic. Oh, it's a long read, but it's great Just you can always get the great information from the first couple paragraphs. She states When the us sec followed its bombshell lawsuit against crypto inventories ribba labs in december It didn't expect blowback. I think they didn't at all But during the pretrial phase ribba's legal team has put the sec itself on trial after years of conflicting and confusing guidance On the rules for crypto the meltdown of the sec's credibility with this two trillion global investor community Exposes a costly sec miscalculation The miscalculation they're doing is they're trying to uh use the howie test from the thirties to Put and and determine what is a security in 2021. It's like I mean, it's just it's just ass-line to even think about and actually there was um, there was a pretty good uh video it was over on um Minority mindset and rel pal was on there and he rel pal talked about that he has uh friends and all of the globe He talks about there's one uh one of the regulators in singapore and they said that what they're doing over there is they're just saying Look, we don't we we can't use an in archaic tests like the howie test What we do is just we're here to protect the consumers just like the sec And uh all we just tell people is like look We don't approve of it seems very dangerous You we want you to be careful just do your research and that's pretty much what they're doing And i'm like that makes a lot of sense. Why can't they just do that and be hands off? And then just let people go in look if we can go into the casino and blow our college fund You know And and and that's just and there's nobody else around who cares right? It's it's up to you as the individual so hopefully uh, this will all come about I personally think that The sec should just get out of the way and they should just say okay. What we need to do is just go We need a another uh entity to determine as far as like cryptocurrency and digital assets Maybe instead of going, you know, uh, just do like a triage Projects come in they say okay be based on this criteria not how we test This is a commodity cftc. You handle that based on this criteria. It's a security sec you handle that based on this criteria It's a currency. Oh sec you handle that and then off you go It seems so simple, but it seems like they can't get out of their way But i'm just glad that the uh the case itself as far as uh as ripple versus sec Is finally exposing the sec to do the things they're supposed to do Which is give clarity to what it is instead of doing back room deals And going after those projects after they come in which is not the way to do things Anyhow, let me make you think about that in the comment section and then to finish up real quick We did a deep dive into um masterworks and uh I have my exit strategy that I think people are pretty well familiar with in the links in the description There's also my my 80 20 rules and all the different uh exit strategies I have but I added masterworks because I am so afraid Of the inflation that is uh that is going on and masterworks It's really all it is it's just buying fractionalized shares Of uh fine art and the reason why I like it so much is because in 2008 when we had uh the real estate And the whole shake down with that then and even the dot-com bubble One of the uncorrelated assets that did well was super expensive art You know why because rich people they don't play by the same rules that we do So this is why I think it's actually a good one for me My goals are not your goals, but we'll release that tonight Uh, hopefully as we get it's reviewed and that's it for today If you want to uh take a look more at masterworks, there's a link in the description It gets you to bypass the waitlist just for watching my channel. That's it. So that's it So look if you made all the way to the end, uh, thanks, I appreciate it Consider uh giving a like and subscribing all that stuff and don't worry I know things get it look a little bit uh bleak sometimes when we take a dip, but It's just a Wednesday and that's it. So thanks so much. I appreciate it and I'll see you on the next one