 And we're live welcome everybody to DCA dollar-cost average as the show talks about Well again We've got the all-star lineup been into the Cryptoverse been think of showing up and James from invest answers gentlemen Thanks for coming on yet again Yes, so I know it's a bit slower. This is what we're going over everybody. First of all, thanks everybody for showing up There's five questions. We want to go over today. So the first thing is the TA TA battles What level of support needs to hold especially as the market has been just taken a a monstrous Cliff dive lately and what's the best worst-case scenario if we do break whatever it is that these gentlemen call second one I want to talk about how a drone Powell that reserve chairman has had some dovish Remarks at the press conference get the markets are bearish What the heck's going on especially with the GDP coming coming up and then the earnings report coming out and some of these companies actually pretty Well, but it still took a big dive La third we're talking about rut US and Russia announced regulation intentions and Does who wins here and does the crypto investor win? That's the big question and then next to last I want to talk about texts from friends I've been getting texts madly From friends and acquaintances asking me what they should do in this market So I don't give investment advice to anybody here on YouTube But I give investment advice somewhat to some of my friends So I'm just gonna ask you guys what you can do and then not lastly What turns the markets bullish? That's those are the five question and of course We've got then from into the are James from invest answers And we've got been into the crypto verse like we talked about there And there's a link in the description. You can find their channels right in that link. So let's get to it Shall we gents? Here's the first question. I'm gonna start with Ben because he's TA He's pretty good at that The question is what level of support needs to hold then I don't do TA. So I rely on you and your daily shows Like I mean as we've said for the last few weeks, right? So the bottom of course is anyone's guess The levels that need to hold, you know, where are we now? It was 50k then 40k And Now we're sitting at what 37,000, you know One of the things that I typically think of in downtrends is not what support needs to hold But what resistance can we do we need to take out? Because as long as the downtrend remains intact, it's generally safe to assume we will you know Just continue continue moving down. I think that The main the main levels to look at of course would be that the same levels We were back at the summer, you know, like the the 29k 30k We we not only were there in the summer. We were also there in in January of 2021 as well So that seems to be a a pretty big area in terms of in terms of Like the kind of the flip of that question like the resistance that we need to take out before we the downtrend Head back the other way some of the main I think some of the main levels are clearly that that level we just dropped from right like the 40 to 42k level And you have the 46k then the 53k and then the 60k and then yes, I mean it goes all the way up So there certainly is a mountain to climb ahead of us I think what I normally do and in downtrends like this is I I personally think it's foolish to call the bottom because We know what happens, right? Like if you're trying to call the bottom it every single week We can easily be proven wrong the next week if we get another sell-off and a lot of it I think depends on on what you know the stocks are you know stocks are doing if we're seeing the NASDAQ sell-off week after week How can we expect crypto to hold up? So Yeah, I would generally say I mean look the 29 to 30k is certainly an area. We would like to hold But I don't really I also wouldn't consider that the worst-case scenario I feel like worst-case scenario is obviously we could we could go below those levels So look right now I'm more so focused on on can we change the downtrend and take out some of the resistance levels And then we're actually putting up a fight until then it's it's really hard to call the bottom Well, that is the honest answer. I appreciate that because Let's be honest everybody out there in crypto land YouTube world We're gonna see a lot of people go, you know what this is the bottom and all of a sudden the bottom gets broken Okay, now this is the bottom. Okay, that wasn't right now. This is the bottom So just hold on because it's nobody knows and always across the ball James How you yeah? So Adding on to what Ben Ben just said. I think we need to look at not necessarily TA But we need to look at kind of I always say follow the money look at the money flow Look at the under or oversupply of coins And there's a couple of things that are happening one We've seen about a billion dollars of selling pressure every day for the last month It's not it's not too dissimilar to what we saw in September, but it is different in December and January we kind of Sold off in December and sold off hard again in January It's like we collapsed through what I call the steps the support levels now Taking that into account We're getting to the stage where you see that the sellers are beginning to hopefully capitulate But what I'm more concerned about right now is some of the miners have begun to sell because they are in a arms race to get mining equipment and we're running out of semiconductors for mining equipment So it's like I know bitcoins going higher But I need those rigs like clean sparks mining 10 Bitcoin a day with 2x a hash If I can add if I can add another x a hash I can send the 5 Bitcoin a day and a Bitcoin goes to 100k It's a lot of money. So this is what they're they're they're doubling with right now So I'm worried about that selling pressure. I'm worried about the low volume That being said when you look at the TA Anytime we got close to 33k the volume spiked the green buyers were in and that was very very clear to see Which is good So I think we just need more volume. We need the sellers to capitulate. We're real close If we look at the time frames for this capitulation window to happen It's always 55 to 60 days and we have what? Using that same box we're close to the end Okay, so that's what I see now a final thought You know 33k is it seems to be a very solid floor But with a big sell-off a big cascading set of losses We could wick down to 29k where we were in the summertime last year But that would very quickly be bought up. So I see 33k is a good time slot But again for everybody out there in the audience just zoom out think long term Don't let this short term action over four weeks six weeks eight weeks put you off There's so much talk of eight years from now for a bitcoins going to be Also think of the network effect that has not slowed down We're going to go from hundred fifty to two hundred fifty million users this year to at least seven hundred fifty to a billion crypto users It's coming and you cannot deny the network effects That will have an impact on price and that will bring in a lot more buying pressure Which will far overcome the selling pressure. So that's the way I see the world right now That's pretty good way to say no that was a great one. I mean both you guys It was a great great analogy or to take a look at what's going on I mean even I mean look even Russia and America are coming coming together go You know what? This is moving so fast. We have to regulate it. We'll talk to that in a little bit So let's move on to our second one The question is and this is what got me We're all expecting Jerome Powell to come out the Federal Reserve Chair and just to really lambast and Just say look, we're going to start to you know add on these points We're going to start to really start to taper and make things come down I know James you were like no, he's not going to do it And he's certainly not going to do it three four five six seven times But he did come out and really just said hey looks like we're going to push everything to march for the next Federal Reserve meeting So I'll just go back. I'm going to go back to James again James. What happened here because Jerome Powell's dovish it would seem like the markets would be like, okay. That's cool. That's great But it was the exact opposite everything turns bearish even so Ernie's reports came up and they were still solid Okay. Well, let me describe what markets hate They hate high interest rates. They hate inflation. They hate unemployment. They hate lack of economic growth But what they hate most is uncertainty. So what jp did Jerome pop Can you hear me? Okay. What jp did was He threw us, you know two months worth of uncertainty where we don't know which way is up And stock markets freaking hate that and this is the problem. We have right now We are in limbo and that's why I'm kind of going to be very cautious You know, if things got completely oversold you see many many top names completely oversold over The most amazing earnings news ever And that's just a reflection of the market because the market doesn't know which way it's going Especially with high frequency traders that are in there just for a quick win But again, if you have a long-term time horizon, this is a great opportunity to again stack more sats one of the mistakes I made During summer june 22nd was not buying more bitcoin. Yes, it fell to 29k I bought some but I was thinking I remember shooting to whatever 68 twice after that. I was like, oh should I got more but now is another opportunity that we have So again markets hate uncertainty And Jerome Powell is a political player. He works for the boss the president of the united states And he doesn't want any boats being rocked ahead of the midterm elections Which are 260 days out that goes out to the whatever was 8th of november 2022 and that's that's the world we live in right now. So limbo choppy waters for the next eight weeks Gotcha. I gotta do something ben. What do you think? I mean adding on to that If you think Jerome would have came out and just said, okay, let's we're gonna raise rates by You know a quarter Half somewhere on there. Do you think it would have been better? Or do you think like this is just what james talks about uncertainty is awful for the markets I think it's all about uncertainty. Um, you know when I first when I first listened to it He didn't really say much of anything to be completely honest, right? If you think about it like he didn't say much of what we didn't already know But he didn't give a clear direction on on exactly what was going to happen And he just kept going back to this idea. Well, we haven't really talked about that yet Like we'll talk about it at the next meeting, right? And now you have all these big banks coming out some of them are saying that they're expecting Six or seven interest rate hikes this year. I think there's a lot of uncertainty in you know, Is it gonna be four interest rate hikes? Is it gonna be three? Is it gonna be six? I you know, there's There there's some level where I think the stock market is is pricing in the probability of the fed completely screwing up and You know potentially sending us into into a research. I'm not saying we're heading that direction but there's always these probabilities of people are sort of like weighing things in And because there's that uncertainty and we still don't know exactly what's going to happen I think you're seeing the markets, you know, sort of react to that Um, yeah, I think it'll be it'd be nice if by March they give us a more clear direction on on what they're going to do Uh, rather than leaving us in the dark because uh, I mean as james said, right? It's all about uncertainty markets. Absolutely hate it if and and by the way I mean all these things should theoretically be priced in like once you know what's going to happen It is basically priced in immediately The problem is we don't know what's going to happen. I think I think investors are now pricing in five interest rates if I'm not mistaken last time I looked But yeah, I think it all comes back down to to uncertainty and and Hoping that essentially that the fed doesn't Doesn't tighten too much because you don't you know, you don't really want to see a repeat of Of some of the major, you know, some of the major pullbacks we've had in the past You'd like for them to hopefully learn from their mistakes and and and keep things afloat Yeah, let's hope so, you know what that will be I'll do a follow-up question real quick So when you talked about that you said It's already priced in I keep from that same that same tone as well from not just you but a bunch of different analysts So real quick ben and james lost ben first Is this priced in because I see a lot of things moving a little bit sideways a little bit choppy and not going in one direction One way the other drastically so already priced in for three four hike rates, or do you think we can go down further? I mean, I think a lot of that's already priced in I just I think a lot of the uncertain like the the major sell-off recently Look at tech stocks. They've just gotten hammered one day after another Uh, and if you overlay the nasdaq with crypto It's I mean, they're not always correlated, but over the last three months They've been incredibly correlated. Note that every time crypto has gone through a a peak or massive peak It's always when the nasdaq's turning higher. So it's going back to crypto We want to we want to make sure the nasdaq's doing well before we can really expect crypto to do To do a whole lot. So yeah, I think that I think that the market is is pricing in several interest rate hikes I also think they're pricing in, you know, the probability of of the fed You know going too far, you know like doing more than they need to do So, you know if later this year if if if let's say the fed doesn't overstep and they they keep things within reason Then then that could lead to a a quicker recovery But right now I think what you're seeing is you're seeing a lot of panic you're seeing people You know wonder if if if we're heading into a you know, a multi-year recession and if over the next few months You know the the fed doesn't really overstep what what they really should be doing Then I think you can you can see a lot of that uncertainty go away and hopefully markets get back on track Let's hope so. James real quick. I'll ask you the same thing priced in or not, man Yeah, it's priced in for at least two hikes call it 50 to 75 basis points more than that. No But you got to look at the big picture the more they raise interest rates the more their deficit grows because of the funding liability of the debt that they have needs gdp They're boxed in they can't shoot themselves on the foot It's it's that simple. It's it's math. I've done a ton of videos talking about this stuff. So um, they know where they got to go Um, and that is not too far up We are now in this mmt world where interest rates have to be perpetually very very low Modern monetary theory. We'll see if it all plays out and let's see if it actually works. All right, let's move on This is the next question. I thought this was fascinating us and russia We're on the same time announce their regulation intentions I know we've heard about this in the past and it gets a little bit cumbersome But there's a couple different things that did come out and one of those looks something like this So we had russian authorities come out and said, hey, we just drew up a roadmap to regulate cryptocurrencies I found it fascinating I've actually did this after their russian central banks So we need to ban everything and lawmakers came down and said grab some bench because it's not your job That's our job So we'll do that and putin came out and said, you know what let's regulate cryptocurrencies and I'll ban them on almost the same Time frame We had joe biden and his administration come out and say we need to do crypto regulation as a matter Of national security and they're going to do that over a little bit more time frame So my question to you guys is and I'll ask this to you james first Who wins here and who's going to be the big loser? Is it going to be the nations? Is it going to be the crypto investor or somewhere in between? Well, I this is a this is a question I didn't really see I think or see coming, but I spend a lot of time analyzing geopolitics political leaders global macro situation, but this is a perfect perfect Game theory example of what's going on and I want to bring up a very old Parable that is the enemy of my enemy is my friend That's right and and bitcoin Is the enemy of now the old school politicians the fed The us the imf the ecb whatever you want to that's that's kind of the enemy And putin his favorite job in the whole world is to wreak havoc on elections on governments on political Stability is just that's his that's his that's his pleasure. You know, he sits at home thinking at night in three-dimensional chess I mess with the world some more. So obviously he believes maybe potential for petro bitcoin He's hinted at that many times last year and once this year Um and havoc is fun for him now. Biden and trump both have a strong dislike for bitcoin Okay, so they're very aligned there, but what's interesting sort of a spanner in the works. Did you know that? Biden's biggest donor is a guy called sam bankman freed This is true. I've heard about that guy. How about that guy? So And by Biden during his whole career was funded by the Delaware financial services Business all the big banks that are headquartered in Delaware a low tax environment all the credit card companies He so he's tight with wall street and that's where I get kind of twisted up because jenny ellen Got paid. What was it seven million last year by all the top banks? You know, we're talking citadel city bank goldman sacks bank america Barclays jp morrick and bnp credit swiss just Give me the money and I'll give you some political power and so I think that's what's happening behind the scene so you got this weird situation we got Putin trying to mess with The world as he does And you got the us trying to curtail and control and line the pockets of the people that put them in their office in the first place Who's gonna win? I don't know now. I'm praying and I hope that Things like true decentralization would just make this stuff more popular like when Nigeria bans bitcoin and just Explodes in popularity So fingers crossed we'll see we will see. All right. I don't know ben What do you what do you think about all this because there's a lot of this is this is chess This is chess on a grand scale. Who is going to make The best move and who's going to just be the ultimate loser out here and really can even tell I Mean look we're going through uncertain times With with russia I you know seeing them sort of take a step back on the idea of banning it and now they're talking about regulating it The first thing that I I was thinking about when they when they said that was you know Is this some type of like as you said like is this some type of like chess move where You know, they're talking about sanctioning russia sanctioning Putin because Some of the some of the political events going on in the world in the ukraine You know, is this his way to say well, we're gonna, you know, we're gonna actually Go talk about crypto and and is that going are they trying to undermine? Maybe the u.s. Dollar as the the reserve currency I mean not that they not that I think they it necessarily would but you have to think that If if if the united states is going to make some of these claims then they might find, you know other Other alternatives and one of those could in fact be be cryptocurrency And I think Putin was actually I correct me if i'm wrong, but I think he was actually on the record talking about mining being Like in a positive sense and and then one to to to really explore that so, um I think that to get people talking about it like it's sort of the idea of like, you know any publicity Is is good publicity? But I think in the united states anyways like we need some type of we're going to have to have some type of regulation, right? I mean, right We're sort of in this like in this weird spot where you have a futures etf, but you don't have a spot etf You know, we're we're in this spot where you if you're a company and you want to and you want to innovate in crypto There's a lot of regulate regulatory uncertainty if you're living in the united states So I think it all comes back to I think I would I I would prefer to be optimistic and and say that I I think regulation will ultimately be A a good thing but with some of the bills that I also see introduced to congress I I have to sometimes wonder like do these guys even know what it is they're trying to regulate You know and and if they don't understand what it is Like if if you if they can't even answer the question about like what it is they're trying to regulate Then I worry about their ability to actually regulate it Yeah, it was it's it's actually a good thing ben that piece you pointed out the fact that they don't know what they're regulating Torpedoes the legislation out of the gate Which is a good thing Yeah, well, we'll see I mean I I can totally understand why and you know I never thought of it that way the way that ben just brought up about how prudent would like to undermine the dollar which makes a lot of sense because Russia and china would really love to do that because the dollar is the world reserve currency So I can definitely see that I can see why they'd want to do it on their end And I can definitely see why america would want to do that because there's a lot of money to be made And just the way that we took the lead in the early 90s with that law 230 To get you know For the websites or the internet to actually come forth and actually allow them to flourish and not hinder I think it could work out the problem is Is just like when ben said again that they even know what they're regulating because with america competes You know, it's there's we're competing against ourselves So we will see I think that's regulation has to happen I'm waiting for it and uh a little bit of regulation goes a long way We'll see what happened with gary ginser. All right So there is that and then next to last This is the advice column and on this channel This there's there's no investment advice only investment opinion james has his opinion ben is his opinion I have my opinion But when your friends are texting you and I guarantee they're texting you over the last month or so If they've bought any kind of crypto or digital assets or are trying to get into it What do you tell them? First of all when they bought if you have any friends that have actually bought into it beforehand What do you tell them right now as far as what's going on the market? Because I mean maybe some of them are up made massively. Maybe some are underwater So what do you tell them james? Let's start with you Yeah, well first of all Shed the losers have high quality names in your bag I don't care if they are equities or crypto make sure they are the winning names think The other important thing is always has some cash on hand. That's proven to be very very important right now So that's always critical no matter where the market is but especially in times like this with so much uncertainty And the third thing is you know pick few because the investing game The more Deep you are and what you invest in better. You can manage your exposure But I proved to myself. I was very disciplined about not holding more than 10 cryptos and 10 stocks That's even too much and I do this 18 hours a day. So It's just way way way too much. So my new year's resolution is less is more Identify do a lot of work upfront identify the winners and go into those high conviction names take maybe three stocks Take maybe three cryptos and just go in hard if one of the one of the cryptos blows up You're okay. The other two out of three. Hopefully will do very well to make up for that loss and and remember as well I know ben you say words to this effect sometimes, but It is very true that millionaires are made and bear markets get in early get in hard get in low Real simple. So that's that's the advice and people are very rattled right now But just you know, it's like six weeks Is nothing in the scheme of where this whole space is going Like I'm going to do something tomorrow. I'm digging into some Numbers where how big money is coming and the impact that'll have on price over the next 25 years Price of everything it's going to go crazy and then So, yeah, that's just my my two cents zoom out everybody futures bright Ben what do you got what do you got? What's the advice for your family friends and loved ones and they're like ben He told me he told me he was gonna gonna great now. I want to speak to a manager So what's going on? Yeah, um I mean a lot of what james said is is true. I do think this is the time to consolidate portfolios You have to remember that a lot of a lot of altcoins Not all of them, but a lot a lot of them will not see new all-time highs ever again I know that's sort of like a painful thing to hear It's true But yeah, I mean like if you've lived through Prior phases like this you know that it's true, right? You know A lot of them a lot of the big ones will ultimately trend higher and you're safest I mean you're clearly your safest place are bitcoin and ethereum So I tell people if they're if they're looking to get into the market you have to start with bitcoin and ethereum You can't it's hard to start anywhere else because the one thing we do know is that If the market is to recover which I do think it will it will recover eventually I I don't know exactly the time frame on that But bitcoin will often lead that recovery, right? It's going to be hard to have a healthy market in general without having a healthy bitcoin Um So I I think that consolidating your portfolio down to you know to a few coins make sense And it doesn't mean that all those coins can't recover It's just that of course when we're in uncertainty look at all the coins from 2017 2018 that that came not even you know A small fraction of their of their prior all-time highs There's so many coins that did that and and so I think the same thing could be said today Make sure the projects that you hold you actually believe in And it wasn't just like a cool ticker sounding name or you know, you heard it chill Thing just make sure you know what it is You are buying and then furthermore have the right time frame You know the right time frame in crypto is generally a multi-year time frame and any given Yes in any given single year or even say like a three or six month period It's a watch like we really don't know what's going to happen What we do know is that the asset class as a whole does It generally trends higher with time Um, so you need to have you need to have a long term investment mindset And if you don't which is not necessarily a bad thing if you don't then maybe this is just not the right asset class for you I don't know, you know It's just it's one of those things where you either you either can take a step back and look at it as a multi-year thing And if you can then I think you're you're going to be much better off If you can't then you have to be honest with yourself and and say you just can't handle the volatility Yeah, no, it's right and then like just what you said like some of these cryptos are not going to come back It just aren't and I and we talked about this a couple of days ago There was an example I gave was called I called it a dash of salt I'm not going to pick on any project. I mean kind of I am there's one called dash And dash didn't do it was great in 2017 I went to like 14 15 dollars and then it flatlined all the way until today I think it's still in the top 100. I believe but it hasn't really done much whatsoever So if you held that the whole time, where would you be right now? Well, not too far And then I also talked about salt salt was going to be this great lending platform It went all the way up. There was different problems with the management team sec came in Shook them down essentially just like with ripple and xrp and they have been flat the whole time So a dash of salt remember those cryptos because at some point you're not going to be able to come back Blue chips. This is what I told my friends george today matter of fact He has been investing since early 2017 He had the basics. He had bitcoin ethereum chain link and I would tell him george I can give george financial advice because he's just a friend of mine I like look man, uh, you got to take some profits along the way and he was buying it like at 6,000 7,000 then it went up to 12 then 20 30 40 69,000 like george you've got you've got to take some profits This point. Nope. I know where it's going and uh, okay, and now here we are and today's like, hey, man What should I do? This is going to be an unpopular opinion But I'm gonna tell you right now I said george, we don't know where things are going right now Do you need the money for something? He's like, I need the money for this specific thing I said if you need this money for this specific health thing, you need you need to Cash then go into cash. I'm gonna tell him to do everything But if you need the money at this point then go for it But for me like I've already done my stuff and I just say like right now would not be the greatest time to sell But if you had bought at 3 5k, it's still at what 37k. So it is what it is Diamond hand nonsense is not the thing. No one wants to be the most uh, the the richest corpse in the graveyard All right So one thing I did forget to say rob. I can share with your audience is And I see a lot of this right now in the chat in the comment in the people out there and the tribalism The number one way to lose and investing everybody is to be emotional If you are in any way emotional, you will lose 95 guaranteed you will lose 5 will get lucky 95 will lose. So when you invest remove all emotion from the equation I'll just leave that there try to do that unless The one time it did work out for me I remember when uh when elon musk tweeted he was gonna stop accepting bitcoin And I had been to a birthday party that that day before the the day the night of I was a little little tipsy And I go, hi this jerk and I said buy and buy and buy and I bought a ton of stuff and the next day I went up like 10% of it that worked out pretty well Not that's not that's not a best advice. That's just a off shot. All right. Do not trade trips tipsy Yeah, don't do what rob does Rosamore on some times. All right, so lastly and we'll get out of here. We'll do this little q&a What turns the markets bullish because it seems like we just had You know earnings reports come out Uh, microsoft did amazingly well. There's some there's some issues with tesla The gdp came out and said it was actually above than what they had actually predicted And what happens markets go down some like no news good news bad news doesn't matter everything's going down So what is going to turn the markets bullish? And I'll start with then I I mean, I think a lot of people are just looking for a little bit more clarity from from the fed And and how they're going to handle inflation and obviously, you know part of the inflation isn't necessarily monetary I mean a good part of it. I'm sure is monetary policy. It's also I think related it could be related to supply chain issues as well Which that, you know, their monetary policy isn't necessarily going to fix but You know, I think some of the some of the things that could turn things around would be a little bit more clarity on On what the fed's going to do. So maybe they'll give us that in the march meeting Uh, I do think that it always remains prudent to be cautious Especially when we're when we're facing a lot of uncertainty, you know, there are of course other things You know, sometimes I think to myself, you know, there you still have a lot of bullish things happening in the space, right? You still have Um a country buying the dip, right? You still have micro strategy That, you know, that they regularly purchase bitcoin. You still have I mean tesla still owns You know, a lot of bitcoin themselves. They purchased 1.5 billion dollars and as far as like as far as I know I think they only ever sold 10 percent You have on twitter you have you have windies mcdonalds and burger king all talking about crypto, you know Their primary accounts and you know, I know the the whole the whole spot etf thing is this sort of this meme at this Point because we've been waiting for it for I don't know since like 2016 2017 It's not here Maybe that could turn things around but we're not going to get that until there is some more regulatory certainty. So um I think, you know, if there is more regulatory certainty if we have a little bit more Uh a better idea what the fed's going to do and probably one of the most important things is is the stock market doing well and Until I see the stock market Uh recover and and and start to turn back up I I cannot Think, you know, the bitcoin's going to immediately go make a new high, you know, I need to see I need to see Uh stocks doing doing well you think about it like bitcoin It sort of is operating right now is a more volatile version of say like the nasdaq, you know Like bitcoin took out at september lows before the nasdaq did, you know, and um now the nasdaq I think is is hanging out right around the september lows um So like there's a lot of things that that could happen over the next few months I I think we just need to be patient and one thing that's worth mentioning in terms of being oversold right now We are incredibly oversold on on multiple timeframes even on if you look at like the weekly time frame for bitcoin The last time we were this oversold I believe was like march of 2020 and then the time before that when we were this oversold in the weekly time frame was 2018 but not the beginning of 2018 The november of 2018 was the last time we were this oversold on the weekly time frame So, you know, I I'd like to think they're they're you know, there certainly is some more There can always be more downside in the short term right? We really just don't know But if people just hang in there and and and just take a step back there There is bullish things happening in the space. It's just a matter of getting past some of the short term uncertainty Yeah, that's I mean, I don't know if you guys heard james. I could see uh, but amaz are arizona. I just put a uh the The language of a new bill to make legal tender bitcoin legal tender in arizona. I don't think it's going to pass But who knows Texas too. Texas trying to do the same thing. Well, of course, it's texas, baby. All right, so James, what do we got? What are you? Yeah, I still you know, I remain so bullish because of the The pure scarcity of things like bitcoin is just Insanity and the adoption as I started the beginning talking about the network effect. That is not slowing down That's just accelerating all over the world all at the same time. I mean you have people I don't know if you guys saw google trans yesterday Hidden all time you high for bitcoin and that's what that's what went when people like Putin mentioned the word bitcoin The world goes what's that? You know, those who don't know what it is and remember only two and a half said the planet have adopted it So again, I what I'm looking for one of the things I'd love to see it might be a big stretch But is that that? Decalated nature of bitcoin to becoming more risk golf to become a true Digital gold gold narrative. So That's that's what I'm looking for and I think that's possible I also think now a lot of the big tech names are very oversold They are below what they were a year ago So 2021 a bumper year the stock market completely oversold not just bitcoin back to 2018 levels But you look at the teslas of the world amazons, etc Big rock solid names Oversold, so I think that's got to turn around And there will be that eight weeks of dark cloud Which is going to keep a lid on things and I think bitcoin was probably going to do over the next Eight weeks. It's going to bump up against 40 42k It's going to have a hard time breaking through that level right now unless we see big big buyer coming in or a big sovereign coming in and buying That that will change the game, but I it should happen in q1. It was supposed to happen From things I've heard but uh, maybe with this weakness You know, there are high net worth individuals and family offices. They are buying at 33k every time it gets close No matter what time of day they come in and they buy and that's just visible from Old volume indicators and the charts. So the money's there. They're just patient Hey, man, I hope so I it does concern me what you said though about the bitcoin miners selling off because they have to the chips and things like that But uh, we'll see I will say just like what ben and you talked about clarity Imagine if drone power comes out and gives us crystal clear clarity what they want to do And then also the u.s. Government comes out and says here's what we came about This is what the cftc the occ and the sec has come together with we're going to give clarity for rules for regulation As far as crypto you put those two things together everything takes off But that's why regulation Clarity is good. All right. So look another great episode. I want to thank uh, these two gentlemen and we'll do a little q&a Real quick. So james ben. Thanks for thanks for talking me off a ledge Honestly, okay, I had some things stars. Let's see if I can show this Thanks, bid moon. I I just uh, I just starred this this comment. I thought that was pretty good three icons Well, these two guys are I love them Uh, let's see. What else we got comments Michael This is a question. Why is bitcoin this volatile? Since it's considered a store of value by many and money seems to currently flow towards Commodities such as gold and silver. I just heard a news report from cnbc Uh, I think it was goldman sacks one of their cio's talked about how this could be a commodity super cycle So what do you think? Why is this? I mean, we talked about it at length, but this store of value narrative. Do you still think bitcoin's a store of value? I mean, it depends. Yeah. Oh, sorry Ben. Let me go. Let me go first Uh, yeah, I think it is a sort of value. I think you just have to have the right time horizon We're in the we're in the process of of watching bitcoin grow up, right? Like it's currently being capitalized gold This happened a long time ago So I I do think it is a a store of value as long as you have the right time horizon You can't expect something to go up 20x and and not have to You know Retrace some like that's just it's what bitcoin has always done. It's probably what it will continue to do Um, so I I do think it is a store of value as long as you as you have the right the right time horizon I mean gold and silver. Yeah, like there, you know, there is some money flowing that way Additionally gold and silver. I mean gold hasn't You know, I mean it hasn't really done a whole lot in the last 10 years So you think about it's basically at the same price. It's basically at the same price. It was when bitcoin was first created um, so It's sort of like I guess it depends on you know, what what is your definition of a store of value specifically I mean gold just doesn't really do much of anything except over the last 10 years lose value inflation Um But I could see I would not sad, you know as much as I give gold and silver a hard time I I do think they will they will probably push higher. You know at some point this this decade Gotcha. Not perfect. James. What do you got? Yeah, uh, so I do think it is a store of value So the people that are investing today They are looking with a long-term perspective. They have that perspective They're not looking to speculate with all of their assets the more assets you have you got to become a lot more risk averse and focus much more on protection Um, but I think the penny is dropping right now We're still so early, but the penny is beginning to drop that this is A top asset to be in and I'll ask the audience. Is there a better one for the next 10 years? The answer is in terms of risk protection and alpha which is excess returns There's nothing better nothing better out there that I can find and I'm always looking so That's a pretty good question to ask Hey, if you don't want to put it into gold or silver or whatever else, what's your other option? Yeah, and to come into what I'm gonna steal that So and to comment on what ben said if you remove your loss of purchasing power for gold over the last 11 years It's actually fallen 40% So you're 1,811 years ago is a lot less than today Yeah, I can agree with that and then this isn't a question, but it's just something to remember Look at amazon at early stage dropping 80% was the norm So just remember that if you would have gotten an amazon early, I think it was like a thousand or a hundred bucks The very IPO would have turned into like 21 million or something crazy like that Next question. This is a question. Will the fed keep printing money? Or are they stopped because I keep hearing about not quantitative easing but quantitative tightening since you're up there james What do you got for that? Yeah, go to the national debt.com website Go to The I think it's the Missouri Fed and look at the charts They're up and to the right for as long back as you can imagine only now at a more accelerated pace And so so that the problem we have again, it's real simple The Debt is about 1.31 times gdp Okay, so they're underwater Now can they grow gdp fast enough to outpace the debt and debt servicing? No, it's beyond the tipping point tipping point 77 percent They're nearly double that so they have to keep on printing. They'll pretend. Oh, let's taper a little bit Let's reduce our balance sheet But then once the proverbial hits the fan They'll start printing again and they'll have to start easing again again Long-term low interest environment with some undulations But long-term it can never go back to historical rates of six eight ten percent No, so james thinks that they're gonna keep printing If anything they're gonna keep printing and they're gonna they're gonna shut it off for a little bit I mean, I'll always have to keep printing I think what what james, you know, what the fed says and what the fed does has historically been two very different things And and I could easily see this this thing where you know Powell talks the talk and they you know, they raise interest rates and whatnot They go through that and then if you can fast forward say six months, you know if supply chain issues if some of these things can can be fixed and if inflation comes back down And you know, you also have the the pressure of of the political parties in office that want the economy to To be doing relatively well going into into mid-term elections um What choice do they have you know like other than to I mean, I mean if the alternative is is sending us into a recession I don't I can't imagine that they're going to want to do that. So I I think the I think they're going to have to they're going to have to keep printing money It's it's also going to boil down to but in the short term I do think yeah, I think the fed has to say face and at least show that they're trying to to do something about inflation Yeah, I saw max keiser on stands where our researchers said the same thing he goes Why do you guys keep falling for that? It's like lucy taking away the ball from charlie brown They're always going to talk about it and they're going to we're going to stop and they don't stop And then ben this is the question for you. Have you I know have you ever done step wise regression modeling on crypto? I don't know what that's about um, I mean, I've done I've done a lot of different types of modeling on crypto I mean the main models that I use today are Well, I mean you can easily do you can easily do Linear regression on on crypto. That's pretty Pretty standard and you can see that in terms of you know, what bitcoins doing you can easily model it with with various regression models Um step wise regression. I don't know that I I don't know if I've done that before on on crypto So I can't really say I don't can't think of anything specific um But you know, I mean I if they have any if they have any specific application in mind I can always I can always try it out See look at that Ben's always up for anything james you do models stuff like that anything like that for you I do I spend my life in spreadsheets I want to boy you guys to death I model everything everything and I have done since I was a child uh my I grew up my dad and he had this old IBM xt. I'm dating myself a floppy drive computer Holy smokes And he had uh They the predecessor to spreadsheets, which is before lotus one two three that nobody in these audiences Even know what that is So I was playing with spreadsheets from a very young age And that's it by the way, uh, bitcoin went up $551 since the stream started so I was watching that but you also see the nasdaq the nasdaq's rallying into the close Which is is a change from what it has been doing for for many days now. It's actually going up into the close Exactly. So it's all the good things out here In this audience Yeah, maybe we'll have a maybe we'll finally have a good weekend for for crypto Yeah, well, that's what I was saying. I said that yesterday So we the the bearers were clearly in control with their positions So the the the whales had to manipulate the price of bitcoin to make sure it didn't breach 38k Or else they stood to lose about 130 million dollars. So they won the game yesterday And my theory was okay. Once we get past noon eastern time We should get way above 38k this weekend theoretically possible But you know the whales will be there to dump they wait for a low volume time This will be the test though is can we actually take out those overhead resistance levels on the way up That'll be the the real test as I mean, this is what we're all watching, right? Yeah, that's remember if you saw a thing was two days ago Um, it looked like a beautiful fake out after the fed meeting we went from Oh, yeah 33 and a half to 39k Yeah What's it about 37 38 all the leverage long school in hard and then the whales liquidate There have been some whales accumulating recently if you look at uh, some of the on-chain data Some of them have finally started accumulating again, and I don't know if you guys follow Whale number three on on the bitcoin rich list No, but whoever that is, you know, I've always wondered who that who that person is but that that that person has been But put it this way the last time they sold more they sold like one bitcoin a while ago But the last time they sold a significant amount about a bit of a significant amount of bitcoin They sold 1500 bitcoin. They sold it at 67k What bitcoin at 67k they also sold it like 50k and 60k as well But ever since then they have been accumulating and even even through january they're continuing to buy You know like 400 bitcoin here. I think a couple days ago. They bought another 600 bitcoin Um, so you know there are there and by the way their wallet now is bigger than micro strategies Yeah, he's the guy at the 127 thousand, isn't it? Yeah, it's crazy. Yeah, whoever. I don't know who it is I I keep wondering who is that that so So follow whale number three and when they sell we sell thanks ben right. Yeah, basically. That's all you really need Awesome and then lastly then we'll get out of here the question is how's the cob james get well soon You guys don't know james is under the weather and yeah, I am perfectly fine There's a little a proverbial frog in my throat, but he's alive and well But everything is good perfect feet. So All right. Thank you for asking guys. That is it just remember that When in doubt zoom out time in the market is more important than timing the market I want to thank ben and james for the best answers you can find The link to their channel is in the description and that is it Gents, thanks for coming on. I'll see you guys next week. I think we're at Should be on my channel dance channel. Yep. All right. Thanks guys. Thanks. So Bye. See you. Bye