 episode. Whoa, what's up? How are we doing today, everyone? Welcome back to another episode of the Marker Report here on Cointelegraph. I'm your host, Benton, and we are joined by our resident experts, Jordan Finneset, Marcel Peckman, and Sam Borgie. Jordan uses his background in psychology and human behavior to spot those emerging trends in the crypto market. Sam Borgie is the business editor at Cointelegraph, where he brings a decade of experience in economic analysis and financial market writing. Marcel Peckman, he's here, and he applies his 17 years of experience trading derivatives options and futures to the crypto derivatives markets, fellas. We are sideways. We are chopping. We are ranging. What is going on this week? How are we feeling about the markets? Marcel, kick us off. Benton, I'm completely lost here. I wasn't expecting anything below $36,000, $38,000 for Bitcoin. So it definitely caught me by surprise, and I do really think we could have another six months of bear market. Maybe ranging from $28,000 to $36,000, but it seems like we're going to be stuck in a bear market for some time. Yeah, it's weird that I find myself now in the position where I'm looking forward to seeing Bitcoin maintain that $29,000 level. I'm like, whew, it's still there. Like Sam was mentioning before the show, it feels like that range of hell back in 2018, we were then $6,000, and that gut punched the $3,000. So we'll see how this shakes out in the next few months. Yeah, back in my day, we had a range from hell that lasted for months and months and months and months. Let me tell you that right now. And at that time, for anybody who's new to the market, everyone was so confident that $6,000 would hold because that was the break even rate for miners. Remember that? Remember all that nonsense? Then we capitulated down to around $3,000, a little bit higher than $3,000. So Bitcoin will surprise you with its downside potential. As I've mentioned before, I don't really see any bullish catalysts anytime soon, but the extent of this sell-off has really been eye-opening. So I guess we'll see the sideways chop, maybe downward action. We'll see. We'll see what the next few months have in store. A lot of bear sentiment around here. And Sam given us a little brief history lesson. So we appreciate those insights. Folks, we got a reformatted show today. We're going to be bringing to you some of the biggest headlines to start things off. And then we're going to be diving into some of those headlines from articles from Coin Telegraph to discuss what's happening with Terra Luna, what we think is going to happen next. Marcel's going to give you his insights about Bitcoin in Ethereum. And they show you some interesting charts about information that you're going to want to know about what's happening next. Just because we're in a bearish market does not mean you can't make money. And that's where we're here. We're going to give you some of those insights so that you can make the best decisions possible in these type of market conditions. So first things first, let's go ahead and get you some of the biggest headlines in the Twitterverse and jump into our weekly roundup. Danilo, let's get this party started. Headlines there or chat or going around Twitter. Folks, if you haven't liked and subscribed, go ahead and do so now. Coin Telegraph on YouTube Tuesday's Mark Report is coming to you at 12pm Eastern. So make sure you set that notification bell on so you know every time we go live and tell us where you are tuning in from from around the globe. We're going to be watching that chat today. So if you have those burning questions, make sure you type them in there and don't forget we're giving away that one month subscription of Markets Pro. So drop your Twitter handle in the chat. We will be monitoring that throughout the show. Now we got a little fun segment today where our producer is going to show us some memes and we're going to get some reactions here out of the panel. Jordan, Sam, and Marcel. I want to hear what we think about some of these memes. So Adrienne, if we want to, or Danilo, if we want to go ahead and pull up, let's get into meme time. It is that time of the show. So let's get it going. All right. First meme of the day. Let's see what this one is. This one is people buying the dip. Me remembering I bought it all the time. I think it's everyone's feeling that way. I think no matter if you've been dollar-hazard or whatever, I mean, Marcel, you, I mean... Yeah. It's not a dip. It keeps dipping. It's always easy to comment jars from the past, but if you see Bitcoin dropping 20% or altcoins dropping 40% and 50% and you go ahead, I'm doing DCA, but I'm going to buy a little bit more and it continues dipping. It's not really a bad thing if you trust the assets you're buying. So it's not going to make much of a different long run. So don't stress out. You heard it first. I think this is a great point. Sam, but to Sam's point, he's been around the block since 2018. I mean, you've been in crypto. It's like every year is 10 years. What's his next one? Checking out my Loona portfolio. After a month-long vacation, yeah. I think we can all sympathize with that one. I mean, I got some skin taken out of the Loona. Got to love it. Everyone got a taste of that, except for Sam. I think that's the meme of the day right there. Is Ethereum 2.0 ever going to happen this year? August 2022 was rumors. All right, we got any others, Adrian? Merge. Merge, the sharding. What will be the next? The merge, the sharding. That's what's the next phase then. Daps migration to the new system. There's always be something at the end of the tunnel, but you're never really coming out of that. Not the life. It'll be like a two-year plan to try and get the gas down or something. I don't know. Hopefully sometime in the century that'll happen. We'll see. I believe it. I believe it though. I believe in Ethereum. All the ETH lovers out there. I see we got Catherine Rhodes. Welcome. Tuning in from Los Angeles today. And Rich, new design. Welcome back. Glad to have everyone tuning in to the show. Now, folks, we got to get into some headlines. We talked about Loona earlier. There were some articles being written this weekend, Cointelegraph. Burn address was being released. Let's go ahead and jump into some of these articles here and talk about some of these biggest headlines and get the panelists' takes on what's going on here. So, Danil, if you want to pull up my screen, this first article is about Doquan. This guy is all over the headlines recently. Doquan shares the Loona burn address, but warns Loona ticks against using it. So, first of all, what does it mean to burn tokens? Who wants to answer this question? Yeah. I mean, put simply burning a token just means taking that as circulation. A lot of different projects, they have a burn mechanism in their tokenomics, which means whether it's through fees or other methods, the token is permanently destroyed, which reduces the circulating quantity of that token, which in theory could support upward price movement, because when you have a lower supply or you have a mechanism that reduces the supply, the price could theoretically go up. So, that's a general view of what it means to burn. Okay. Now, why would Doquan release this burn address? Is there any benefit because he's releasing this and telling people, don't send your tokens there? Obviously, I mean, your tokens are almost worthless already. Why would he release this out to the public? Jordan or Marcel, do you have any thoughts on this? Well, to me, when we get into a crisis, we kind of lose our minds. Let me forget how to think. It seems like he's been making crisis mode decisions since like May 3rd. A lot of the stuff that they've been doing hasn't been making a lot of sense. And this, I don't know why, why would you release that to the public? Like it serves no purpose, other than people sending their tokens there, but then he's like, don't send your tokens there. They go away. It's like, I don't know. I think he's just trying to send a message. Well, look, the foundation had too many coins issued by the automated algorithm. Now we are burning some of that. So we're destroying those tokens. So taking out our circulation, we're doing the best we can to protect investors' interests. That's the message he wants to send out. Yeah, it didn't really make any sense because it seemed like he posted it in response to a question. I think somebody wanted the address. Then he posted it. And then a couple of days later, he came out and said, oh, by the way, you shouldn't be sending tokens here because it's not going to do anything. You're only going to be losing tokens. I think what Jordan said, not really the clearest decision-making right now, it seems. I mean, my only theory would be that he would post this burn address so that the public could see if and when LFG is burning tokens. That would be the only reason why for transparency sake, but isn't most burn address public information anyways? Like why was this kept from the public? Yeah, that's my kind of question. But what's going to happen to all these projects in the Terra ecosystem? Are they going to, if you were a project right now, are you staying in the Terra ecosystem and continuing to build? Are you looking at other options on other chains? What are your thoughts on this, Sam? You know, what's that one meme held to the gnaw? Yeah, no, I would not be looking to stick around. I mean, look, Terra does have a vibrant ecosystem. I don't know what they do now that they're going to be disavowing the stablecoin in the UST. I'm not really sure what the ecosystem is for when you don't have the algorithmic stablecoin, but if they can somehow salvage that community and maybe carve out a new niche, a new path, maybe, but if I'm an established project there, I think I'm looking elsewhere. Yeah, I don't see too many projects. Like Sam had mentioned, what are they really going to do? Terra was built because of the UST. So when you take that away, what's the point of Terra? I think some of the projects might be able to switch to another chain maybe. I saw Anker popped up the other day. They could maybe turn into like a liquid staking or maybe coming out with a new collateralized stablecoin or something like that. I don't know, but they might have to do another chain or another Cosmos chain or something. I don't know. Barcelony thoughts here. I think there's, in crypto, there's always the trust issue. So how do we know that these developers from the Luna ecosystem were not related somehow or benefits somehow from this LFG thing and the imploding? How did they not have special access? So people are going to start doubting that. So I don't think taking these projects out of the Luna ecosystem trying to replicate them outside will work. It's better to start something new from scratch. And I think that's one of the things it's like the Terra ecosystem uses UST as the gas. So what happens if this potential fork move happens? Does then Terra become the gas for the ecosystem? How does that butterfly effect the projects if you're building? Like if I'm a builder right now and there's no foundation or direction of where I'm going it does not give me a lot of confidence. No, but if they eventually hard fork the network and decide not to use UST. Okay guys, we're going to use a rapid version of die. A rapid version of USDC, a synthetic asset of USDC. Then the system might work. But still you got to go back and think about the community. Is that what the community wants from the new Luna or the new Terra? I doubt it. Without the algorithm stablecoin, the whole system makes less sense. You hear it talked about often that like 95, 99% of tokens are going to go away and that's true. We're kind of seeing this process like when you take away Terra a lot of these projects are just another DeFi protocol that have like a comparable chain or a project on another chain. Are they going to be able to switch to another chain and then reach a certain level of market share to be able to survive? I think a lot of these things are just going to eventually kind of fall to the wayside and we're going to get a consolidation into certain top platforms on each network, whether it's like an Aave on Ethereum. If it's a Cosmos chain, I don't know if Osmosis will take the lead as far as Dexes or DeFi goes and whatnot. So we're just kind of seeing this process and I've been around long enough to see a lot of the projects will just eventually fade and the longer this bear market goes, the more likely a lot of these altcoins are never going to come back because the liquidity and stuff is just going to get sucked out of them and put in the projects that have long-term viability. So we're just kind of seeing the process of the 95% of projects falling by the wayside and this is kind of what kicks it off. Yeah, and during the next cycle, you're going to start seeing projects you never heard of before, pump really hard and then you rinse and repeat again and again. I don't think anyone really expected Luna to implode this quickly. I mean, there was concerns but this one leaves a mark on the industry for sure. I would definitely say so. People forget that in six-month time when another ecosystem goes up 5,000% in a month, they simply go crazy behind it. Yeah, what's MT Gox again? I forget. What was that all about? Good old Mt. Gox. But I mean, it does bring up a good point. With the collapse of USD, there is this gap in the market right now for stablecoins and the need and the want. Obviously, USDC, BUSD, USDT are the leading stablecoins right now. But I'm curious to see what's going to be next for the evolution of stablecoins, which brings us into the next stablecoin that's being released by Phantom FUSD and some big news this week. During this bear market, we saw at least, I think it was like a 12% rise in the FTM token. So I want to go ahead and just pull up this article that actually Jordan wrote about FUSD and what's going on with this ecosystem is Andre Krone back. Jordan, do you have any insights here in regards to this article about Phantom and what's going on? Well, I wrote this and I wrote another piece kind of like talking about the crypto massages and how it's not necessarily a good thing. I'm like, it's just more the same. How come the practice pumping just because Andre Krone came back? The project had solid fundamentals before that just because he's maybe getting involved doesn't mean that it's going to be that much better. But I like Phantom as probably the top dag, this acyclic graph, decentralized acyclic graph or whatever it stands for. That project, it's the top in that category. So I think Phantom's got to do a long-term trajectory as far as low fees and stuff like that for the community. But we'll see. I think we're going to be in a bear market. So this is on my list of DCA, like Polkadot, Phantom, Cosmos. But how long this bear market is going to go? I don't know. It doesn't always feel like great to dollar cost average in a bear market when it does that meme, the Pukin penguin. Like, oh, look, I could have got like twice as many before just waiting a few days. But I don't know. We'll see. Phantom got long-term chops in my opinion, but the bear market sucks. I mean, further to what Jordan said, I think a lot of people in crypto get a hard time for not buying on the low. The problem with crypto is that it's not like the stock market. The stock market is more established market. So if the S&P plunges down to 2000, you know that's a generational buy opportunity. But for crypto, that's not necessarily the case. You don't know whether this drop is going to continue, whether the project has long-term viability. A lot of these coins are simply startup projects. So it's not always, don't beat yourself up about not being able to time the bottom or pick the bottom because a lot of these projects, we don't know the long-term viability. So that's where you have to really do your own research. And a lot of it is luck. And a lot of it is trying to identify as many promising projects as you can and then dollar cost average into them. So that's kind of my take on that. In regards to this FUSD, Jordan, what is this FUSD stablecoin? It seems like it's over-collateralized. Is this a game changer at all? Is this just another stablecoin on the market? It's another stablecoin. They're going more collateralized versus algorithmic, which algorithmic was USD. And that's why it collapsed. But again, a lot of the assets that they're putting into it are phantom-based assets. And so this is always going to be the risk of, as soon as the price falls out on any of these tokens, your collateral is going to lose its value. And you better go in and put more collateral or cash in. Because it's just always got to be paying attention when you're working with these collateralized stablecoins so you don't get liquidated. And I remember getting liquidated on USD and Anchor way back in March of last year. And it kind of left a sour taste in my mouth. So I wasn't overexposed to that whole ecosystem, thankfully. So yeah, it's always a risk. This collateralized a lot of the tokens from phantom ecosystem. So just be careful with any of these, whether it's FUSD or the new one from Tron. Just be careful. Good old Tron ecosystem. All right. Well, keep your eyes peeled for phantom. I think we have a few folks here that are bullish, including myself, Andrei Krone. I don't think he ever disappeared. I just think he took a step back from the limelight and he's been there all the time. So be that as it may. We'll go ahead. I just wanted to say, following up with what Sam said, not even everybody in crypto is going to make this big, big money. If people you hear that a lot, but right now is when you the best opportunity to actually do that when the markets down, everybody's bearish. Like Sam was saying, find some good projects with good fundamentals, dollar cost average, and then you might have to wait a few years, but those will be the ones that go up. That's how you get a theta from a five cents to $14 or a doge coin from 0.003 to 70 cents. You think it was easy holding those for a year and a half when they just kind of languish? No, but that's got you got to kind of accept that part of the journey and just kind of have faith in what you believe, I guess. Which I want to hear from the chat though, which token right now do you think will survive the bear market outside of Bitcoin and Ethereum and some of the stable coins? Which token will survive the bear market and thrive? Tell us in the chat. I want to hear your thoughts. I see rich new designs at the bear market will clear out all the alts without real value. I think that's a valid point. We've been talking about that now for the last couple weeks. But next thing's next, I want to hear from Marcel because he's got a lot of knowledge to drop on us. He's going to be talking about, I believe, Korean exchange and why you want to pay attention to it. So let's go ahead and jump in to Marcel's expert takes on Bitcoin and Ethereum and give us those knowledge of nuggets that we all want to know. Okay, guys. So this week we'll be doing a slightly different version of my segment. So instead of me bringing the opinions, I'll show you guys three supporting data and you, our viewers, get to decide because if I happen to know the future, I'll be joining the keyless at sunset right now and clearly that's not the case. So on to evidence number one, the Korea premium index. Danilo, can you share my screen please? So as you can guys can see here, the Korean premium measures the price of the Bitcoin in Korean exchanges versus the price at Coinbase and Kraken. So whenever there's excessive buying demand in Asia, this premium will rally above 5%. And we've seen that in the past. For instance, here in April 2021, the premium spiked up to 20%. And right now, the premium is 0.5%. So basically, nothing happening right now. But the good news is, despite Bitcoin plunging 40% since March, the premium hasn't gone to the negative side over the past seven weeks. So yeah, from one side, there's no premium, no Korea premium, no retail demand excessive demand there. But on the other side, the last time we saw negative premium was late March. So over seven weeks ago. Thank you, Danilo. Now let's move to the evidence number two, which is the Bitcoin futures liquidations. So futures markets allows a trader to deposit $100 and make a trade 20x times larger. So using leverage. Moreover, the same trader can deposit $100 and place a bearish bet. So bet it on the market downside, known as short. However, when you do that enterprise move 5% against you, you get liquidated. Your position is terminated and you lose your margin. So I want to share a chart again here, Danilo, please. So this chart is from coin glass. And what it shows is when you see a green candle, it means that the longs, the buyers got their positions terminated. So the price moved against them. And their trades ended up bad. So they lost money. On the other hand, when you see a red candle, it means the shorts, those so those betting on the downside got liquidated. So across the past three months, there's a slight embalancing favoring the longs. So buyers got liquidated a little bit more on May 11 and 12, because of the Terra Luna ecosystem collapse. But over a three month period, not so much of a difference. So I kind of see that as a win for bulls, a slight win for bulls. But again, the biggest liquidations were for the buyers. And as promised, now I'm going to show you guys the evidence number three, which monitors miners position. So Bitcoin miners, they get like 900 Bitcoins on their wallets every day because of the mining. So each mining, each block's mine gets them 6.25 Bitcoins. So whenever they send coins out of their wallets, probably they're selling, that's a bad sign, bad sign. And whenever they're holding their coins, so they're not sending the coins that they earn to exchange or to another wallets, it means they're holding. So holding is good. So the needle on the screen, please. So whenever the MPI index goes up, for instance, in early April, it went at 2.55. It's the yellow line over here. The black line is the Bitcoin price. So a high MPI index means they're moving coins out of their wallets. And a low MPI index, such as the current one, negative, means that they're holding coins. So the last time miners moved coins out of their wallets, Bitcoin price was hovering at $45,000 and that was on late March. So on the past seven or eight weeks, they did not move coins out, which means they're holding. So a bullish take. Thank you, Danilo. So a quick recap on the three data, and then you get to decide and please send us your comments on chat. So data number one, the Korea premium index, it hasn't been positive over the past two months, but considering the 40% price drop, it could be interpreted as bullish. Number two data, the leverage. So yes, Bitcoin buyers, leverage buyers using futures got hurt on May 11 and 12, but across a spectrum of 90 days, it was kind of a balance between longs and shorts. And data number three, miners have been holding their coins over the past seven weeks. They have not been sending their coins outside of their wallets. Yes, there may be a price that they'll be eventually forced to sell, but it's not happening right now. So that's it for me. I want to hear from you guys. All right, so I got questions, Marcel. So why is the Korea premium index, why is that pertinent and why is that a metric that you took into consideration to show? So good question. We all think that Coinbase is the largest exchange, and there's Bitstamp and Kraken in Europe, but we don't really have access to what's happening in Asian markets, mostly because trading cryptocurrencies in exchange is forbidden in China. So those guys use OTC markets, they use Korean markets, so they find a way to circumvent that, but there's no direct way to measure how is the demand going on Asian markets, specifically in China. So what the Korean premium tells us is that when there's money coming from abroad, like other countries, or retail is going to a frenzy, the price in Korean markets gets to be traded above the level that's been trading at Coinbase, Bitstamp and Kraken, and the other way around. So it's important to gouge the sentiment in Asia. Okay, that's good to know. I did not know that. Do you think a lot of the data is pointing to weakness from the retail markets, especially? It's a mixed feeling, Jordan. As I said, there hasn't been a Korean premium over the past seven or eight weeks, but considering that the markets, Bitcoin at least, dropped 40%, and most of the altcoins dropped 60%, and the premium hasn't gone to the negative side, meaning they're not desperate enough to sell below the prices seen in Coinbase, Kraken and Bitstamp, I would say it's a mild bear market. Had it been really bear, if the prices of Bitcoin plunged like 80% in two months, we would see the data much more bearish than what's actually showing us. So Marcel, based on these charts and based on the overall picture, do you have a sense of where the bias is in terms of up or down in the short term? Yes, Sam. I'll say, I've been hearing that the average cost of mining lies around $22,000, $24,000, and we all know that Tesla and MicroStrategy, their average price is around $30,000. So investors start to think, well, if miners price is $22,000 and Tesla and MicroStrategy average price is $30,000, maybe if some why, we don't know what's gonna happen, what's gonna take. If Bitcoin drops to $15,000, it's gonna force them to sell, it's gonna cause miners to abandon and to shut down machines, and it's gonna be the death spiral that we've all heard in 2018, and it never happened. But most of the investors joined this market over the past two years, so they don't know how the adjustment, the difficulty adjustment on the Bitcoin network works. They don't know that Tesla and MicroStrategy are not forced to sell if Bitcoin drops to $14,000 or $10,000. There's no set rule for that, and both the CEOs already said they're not willing to sell at any price. But there's fear in the market, prevalence here. So I would say maybe $19,000, $20,000 in the worst case scenario, according to the data we're seeing right now. Jonah Curry wants to know, when will the bull markets start, Marcel? What he's basically asking is when we will decouple from traditional financial markets, because the correlation between Bitcoin and S&P has been above 80% for the past couple of months. So until we decouple from S&P, and I don't know what's gonna need to happen, we should be continuing to grind in this bare range. And just to clarify, that range is you're saying in between $20,000 and $35,000? Right now, $26,000 and $34,000, $36,000. It's a $10,000 range. Very good. All right. You heard it first from the one and only Marcel giving you some of his insights and showing you what he dives into so that you can trade like a pro. Next thing's next, folks. We're gonna dive into a couple other articles and headlines. Bitcoin recorded its eighth weekly candle, and this is one of the first times this has happened in its history. So I'm gonna go ahead and pull up one of these headlines this week from Bitcoin here, brought to you by Cointelegraph. If you haven't, go ahead and drop your Twitter handle in the chat for that one month subscription of Markets Pro. We'll be giving that away at the end of the show. But Danila, if you wanna go ahead and pull this up, looks like we had the eighth week of a candle here. This is what we got, folks. One, two, three, four, five, six, seven, eight. What does this mean for Bitcoin? We saw Marcel talk about the range that we're looking at. What would we expect? I'm curious to hear from Jordan or Sam. Can this go lower? And if so, what does that look like and how low can it go? You wanna go first, Sam? Well, in terms of can it go lower, of course it can. It could always go lower. It could always get a lot worse. Again, for me, seeing eight red candles in a row is very surprising. Even during the last bear market, the extent of the decline that we've seen over the past few months has really been eye-opening. Even in bear markets, we don't see this level of capitulation so consistently, so violently. We do see the violent swings, but not the consistent reds that we've been seeing for the past few months. Even during bear markets, we do tend to see large relief rallies as well. So for me, I was always expecting a retracement. We haven't gotten that yet. So for me, right now, you have to take the cues from what's happening in the traditional financial markets. This whole idea of Bitcoin being a hedge against inflation and all that, it hasn't really played out that way. Bitcoin is highly correlated with the stock market. So if you're gonna see decoupling, Marcel talked about decoupling, the only way I see decoupling is if demand among the long-term toddlers continues to grow and you start to see more Bitcoin go from weak hands to strong hands, if you see that trend and that trend accelerates, you could potentially see a flippening of that narrative. But in the meantime, I don't really see that. However, if there is one silver lining, is that it seems like the Fed, certain Fed policy makers, are starting to pivot in their language about interest rates. It's very, you have to kind of really parse through to really get that. But we had Bullard, we had Bostic recently talk about the potential of either pausing rate hikes in September, or at least starting to think about lowering them again next year as they raise interest rates into a recession was what they're doing. They're causing a recession in the Fed. So any kind of language change on the Fed, I think is going to be positive for risk assets, which are extremely oversold. And that could lead to a short-term relief rally for crypto. But again, that's a short-term relief rally. Yeah, we're seeing the dollar get to really like it's what highest it's been in years. And it gets it's kind of pulled back really, but I'm expecting maybe even a little one more little blow off top of the dollar, which anytime the dollar goes up, Bitcoin goes down. So yeah, yeah, Bitcoin can go lower. But if you just look at the whole landscape, what can you put your money right now that isn't necessarily going to go lower, maybe oil, like WTI, or commodities, but everything, like the whole markets, global financial markets are kind of like, oh, well, I'm like, we're at a crux of like a serious downturn on a global scale with these markets. So okay, if we get a decoupling, maybe like all markets of tanking crypto goes blow off top. That's what we're all really hoping for. It might be a little bit of Hopium juice, but I don't know, I just buckle up if you got the dollar cost averaging chops do so. But like, this is this is where the crypto chops are made, man, bear markets are rough. But there are a lot of the dominant percentage of the time in crypto markets is is bear. It's like, oh, we're like sadists over here, like in the pain for like the momentary pleasure that it gives us. But yeah, crypto can go lower. So just try and hold in there, man. Yeah. And as as Jordan mentioned, the dollar is actually really important because there's that inverse relationship between the dollar index and Bitcoin, the dollar index, you can track it using the DXY, which tracks the performance of the dollar against a basket of six currencies, most notably the euro. But the DXY seems to have peaked around May the 12th, around 105. It's back down below 102 right now. So maybe that run up in the dollar is beginning to moderate, which historically has been fairly good for crypto and for Bitcoin. And Marce, I think you have some insights about what's going on at the macro level from the stock markets. What are your thoughts? I kind of agree with Sam when we say that, okay, we don't know exactly what the decoupling is going to be. But if you stop for a minute and you think, okay, so why are we buying crypto currencies in the first case? I'm not saying if it's Bitcoin or Ethereum or whatever coin, but it's because it's a scarce digitally scarce assets and governments have no access to your wallet. So there's no sensor involved, involved. No tyrants can remove your coins from your wallet. So once the governments, for instance, implement the CBDC, which is their digital asset coins or whatever, but not using blockchains. And they tell the population, so you can only spend 50% of your money in food or you need to spend at least 20% of your money in energy. Otherwise, this money will be wasted, burned, this digital money will be burned. So there's got to be a reason for regular people to say, okay, I don't care about this anymore. I'm not using the US, the CBDC of the dollar. I need to act. I need to look for an alternative. So when this happens, we're going to see a decoupling. So I don't think it's something necessary that Bitcoin or Ethereum will do, but what the governments will be doing to create this panic and this mass exodus. Let's see a lot of people in chat right now. We saw turbulence in financial markets. It's just getting started. It sounds like a lot of people are bearish in the traditional markets here in chat. We had fear and greed index at 12. Where are you guys at? Are you feel for right now? Are you getting greedy during these kind of moments? Because we're being the antagonists during these types of times. I'm curious to hear your thoughts. Quick takes, Jordan starts off fearful of greedy right now. I'm being greedy, man. Like I'm starting to get the dollar cost averaging urge. And like this, that says in the side, I've never seen so many regulators come out talking about regulation after this Taraluna blew up. So I'm suspect of that. Like there's so much to talk about regulation. I'm like, this might actually be a good thing. It might help move this train along. Sam, fear for all greedy. Yeah, I think being a contrarian in this kind of market is usually a good thing. So if the market is this fearful, I guess I'm greedy, but only from the perspective of Bitcoin, because friends don't let friends buy alts in a falling market, as I've mentioned before. I'm not going to catch any any falling knives. So yeah, that's that's my take on that. Marcel, for six months time frame, at least six months, I'm greedy. But for zero to three months, I'm saying stay out of it. Just wait for a better moment. In my humble opinion, all roads lead back to Bitcoin. During the storm, you take shelter in Bitcoin regardless of whether it's going up or down, you know, it's going to be there for the long haul. That's my take on all this stuff, because I got burned on Taraluna. I'll be the first one to say it. And so I'm looking for that that safety shelter right now Bitcoin for me. I'm DCing in all day long, all week long. I don't care where that price is going to be, because I got that long term vision. So I want to get into our next segment here. But before we do, just want to say these are the personal opinions of ourselves, not represented of the greater Cointelegraph ecosystem. We appreciate everyone that's tuning in today. Don't forget to like and subscribe, turn on that notification bell so you know when we're live, and you know when you can get the hottest takes on the internet from us. But next thing's next, we're going to give you two tokens you should have been watching this week. And guess what? If you had had that markets pro platform in your pocket, on your phone, on your desktop, you could have spotted some of these trades, guys. This could have been huge for you on those vortex scores and those newsquakes. So let's go ahead and jump into our markets pro two tokens you should have been watching this week. It's Clay token folks. And if you would have caught the newsquake, those are those automated alerts that you instantly notify our users about market moving events. And so what happened this week? Well, on May 16, the newsquake informed markets pro users that will be global would list clay token on May 18. Time of that newsquake, the price was 39 cents. And then it ripped up to 44 cents after the listing. That's a 12.8% gain. And when we're in these types of markets, you are going to take those swing trades if you can get that 12% gain in a day, and you're able to get in on that. That's why you use markets pro bear market bull market. We don't give a rip. We're here for it. All right, folks, the next token that we have this week is K and C. And what happened? Well, the vortex score, which is a comparison between its current market and social conditions of those in the past, this thing clocked up in the green area. What does the green area mean? It means it's 80 or above and 80 is considered confidently bullish 30 indicates historically bearish conditions. And so what happened? Well, this week, we saw that vortex score splash green and alerted markets pro subscribers. And that price shot up from 149 to 275. That's an 84% increase. That's tremendous. I don't think you could ask for anything better right now in these market conditions. And if you have markets pro, you're able to get this, you get a notification anytime one of these events happens. And that's why we're trying to highlight this. We want you to win help us help you. And that's why we're going to give you a one month subscription of markets pro. So make sure you drop that Twitter handle in the chat because we're giving one away here at the end of the show. But folks, if you want swag, look, we got it. Cointelegraph store.cointelegraph.com. Make sure you get it. All right, we're going to put up this. Do we have a poll today? Are we bearish or bullish? Do we want to get a poll up bearish or bullish? And we're going to see what what folks have. Now, I want to hear closing thoughts here. Let's start off with Jordan. Where what are your final words for today's show? And then we'll give away our winner for the one month subscription of markets pro. Well, as I've said in past weeks, it's it's good to get yourself out of just being focused on crypto. Like this is going to be a really challenging time. Even if we get a really rip warm blow off top, there's going to be a collapse after that, which will put us back where we are right now. So just learn to kind of navigate these choppy crypto waters. Understand that a lot of the time is spent in a bearish market down. Those are the best opportunities to buy, though. So just if you can dollar cost average or just kind of collect your pool your money and wait till the future when we actually start getting to turn around and that kind of gets verified on charts and stuff. But other than that, just try and enjoy life. Don't focus on your crypto portfolio too much and just find enjoyment outside in the nice sunny weather if it's summer for you like it is here in the US. Very good. We got that poll up. Don't forget to vote bearish or bullish. What are you right now? Sam closing thoughts for today's show? Yeah, well, this negative sentiment, this downward action, this is really makes me feel at home. This is usually what it feels like in the crypto market. The rips higher tend to be the exceptions, not the rules. But take solace in the fact that we're early adopters in an industry that's going to become probably the next sector of the S&P 500 one day. So you can consider crypto to be like the dot com era back for tech or for the internet era back in the late 90s. There's a lot of comparables there. Again, you need to have a longer term horizon. Wealth isn't usually created very, very quickly. Just know that there's broader macro forces outside of our control. We can't control what the Fed does. We can't control what's happening geopolitically. All that is weighing. But again, if you're holding quality projects, if you're in Bitcoin, the future is bright. We just have to navigate the next probably the next six months to see what's going to be on the other side of that from the perspective of macro, monetary policy, the economy, et cetera. Not an easy time, but you should be positioned accordingly and not overextended in terms of your exposure to a highly volatile sector. And Marcel. Well, but I'll just say that if you think that the the SpaceX and Tesla CEOs and CFOs are stupid people or micro micro sailor, the longest running CEO of a listed company ever in history are dumb people for holding Bitcoin at $30,000 and seeing collapse to $25,000 and not making a sale. If you think they're idiots, I think you got to be a scientist at MIT or some very special person to think about that because those guys are savvy. Those guys are seeing the devaluation of the dollar because the inflation is not the CPI metric. The inflation is the amount of money that has has been printed over the last two or three years and 40% of the money in circulation has been printed over the past two years. So if you just hold your dollars in a bank account, you're effectively losing money 10, 15%, 20% every year. And you don't want that to your money. You don't want that to your holdings. So Bitcoin and cryptocurrencies is a new system. It might work. It might not work, but at least is an alternative. So give it some space, 5%, 10% of your portfolio for the long term. If you're not a trader, don't try to trade cryptos. The volatility is too high. You're going to get burned. So just invest for the long term. Hallelujah. Amen. All right. I love it. I love it. Love it. Give me jazzed up. I mean, if you're in crypto, you're in it for the long haul. These are the moments where this makes you five years from now and living through these times of adversity, I think builds character. And that's what we want here in the crypto world. Go ahead, Jordan. Yeah, on that point, Benton, for all those people, I wish I would have bought Bitcoin at 100 bucks. I'm like, welcome to what it's like to buy Bitcoin at $100. This is what you get. This kind of market is what you get when you get in earlier. So just take it and enjoy it. Exactly right. There is a life outside of crypto, but we appreciate everyone for tuning in. It looks like we got to give away that one month subscription to Market to Pro. Let's see. Let's check the chat. Do we have any Twitter handles in there? I'm not seeing any. I've literally the first person that drops their Twitter handle in today right now is going to win. So go ahead and do that. I'm going to give you 10 seconds to do it to claim your prize. You could make an 80% trade just by getting a free one month subscription to Market to Pro. Is it Jonah? At Jonah? Yeah. It's just at Jonah. Okay. At Jonah. And folks, if we get 56% of people here, perish. What does that tell you? Be the contrarian. Dollar cost average. Not financial advice. All right, folks. Well, that's going to do it for today's Market Report. We appreciate you jumping in. Until next Tuesday, 12 p.m. Eastern. We're here. Like and subscribe. Coin Telegraph on YouTube. Until next time, folks. Over and out.