 Yo, yo, yo, what is going on everybody? How's everybody doing today? Welcome to another episode of Let's talk crypto with your host Jay from Bitcoin Daily Hope everybody's doing great today. Hope everyone had a great weekend It is it has been a crazy few days guys It has been a well a crazy week really everything that has been going on in The market with the sec going basically after everybody Last week they went after Binance on Monday. They went after Coinbase on Tuesday Then they also went after a total of I think 19 different cryptocurrencies including Solana including What else was it Cardano? Polygon Matic and a bunch of others as well so It's it's been it's been a crazy few days a crazy week really and we've seen it in the markets. We've seen coins like in the top 100 market cap Down 20 to 30 percent on in the last seven days So it's definitely been a huge sell-off in out coins because there's a lot of fear Uncertainty and doubt in out coins right as of this moment right now Especially in the three coins that I just mentioned Solana Matic and Cardano because those specifically are also being now delisted By Robin Hood and we'll talk a little bit more about that in today's live stream But let's start off with the overall prices. We're gonna take a look at the prices here today We're gonna take a look at the economic calendar for the week guys It's gonna be an insane week if you thought last week was crazy this week could be it has a potential to be an even crazier week So we'll cover up what we have coming up this week. We have three potential big events this week We're gonna go over The news update what's going on overall with everything that happened last week basically and And then we're gonna end it with of course a market analysis what kind of look at a bit coins price and You know give some ideas of how to play how I'm gonna be personally looking to play and We'll end it with a live Q&A So if you guys have any questions about anything that we cover in today's video if you're watching live Drop it in the comments. I'll be more than happy to answer those for you guys. So without further ado Let's go ahead and jump right into the price So the first thing that we're looking at here is of course Bitcoin currently sitting at twenty five thousand eight hundred and twenty four dollars so Pretty much been consolidating here over the weekend. We consolidated in the same range and and today Pretty much just stuck just kind of stuck here. The market. I'm sure is going to be unsure of what to expect This week, right? And we'll talk about starting tomorrow at 8 30 a.m. Why it's going to be important and why Probably most people are sitting on the sidelines kind of waiting For a direction here to try to figure out what's going on in the market overall, right? So That's that's currently where we're sitting And if you take a look here on the right-hand side, I got I got some of the outcoins here You can see for the most part Everything is pretty much in the red as we can see here. We do have a few that are green. We have suey here That's green today But everything's pretty much in the red. Bitcoin's pretty much flat on the day it's had a high of today of 26,100 and a low of 25 600 so It's been pretty pretty slow week so far. Well pretty slow Monday compared to last week's Monday last week's Monday We had a five percent drop off if we look back here last week on Monday We had a five percent drop then last week Tuesday We had basically a six percent pump right back up and then on Wednesday another three and a half percent drop Then Thursday Friday. It was pretty much just kind of flat And then Saturday two and a half percent drop. So it was definitely an eventful week As far as volatility So if you're trading volatility, definitely a lot of opportunity there for you guys, but we're still we're stuck in a range, right? So if we look at the weekly here, we see The last two weeks have been minus three and a half and minus four and a half And then this week we're down about we're pretty much flat on the week so far to start started off Now one main thing that that we did lose here was the 200 week moving average So we'll take a look at that when I do the market analysis here But that's just kind of something to to take into account here Let's look at the rest of the crypto market see what is going on all around the world of crypto currencies So you can see for the most part in the last 24 hours And if you're if you're watching us you're just listening you're not watching I'll describe it for you Don't worry for the most part every and the majority of things are in the red We do have a few here in the last 24 hours that are green. We have Cardano up to percent XRP is pretty much flat up zero point three percent on the in the last 24 hours Because he bitcoins down zero point six percent. So pretty much flat Ethereum down about one percent and if we just keep scrolling down You'll see a lot of things are flat and with a few you know a few outlets Now if you look at the seven days in the last seven days, what's been going on in the markets? This could this really starts to show what's going on overall We can see that Bitcoin is actually in the green is zero point three percent. So not much It's pretty much flat, but it is green which is something important to note and Ethereum is down about four percent right in the last week and the reason that these are important to know is because then when we Look at the rest of the crypto market We'll see the next biggest out coin in the crypto market is Binance coin down 17 percent We have XRP. So XRP remembers it has a few things coming up They've been getting bullish news as far as the case against SEC So the XRP in the last seven days is actually up three percent But that's that's pretty much it as far as The coins that that are up in the last seven days Cardinals down 21 percent Doge coin down seven percent Tron down 10 percent Solana down 24 percent polygon down 25 percent, right? Like coin down 11 percent polka dot down 10 percent So we're just getting all these coins all these out coins are down big Avalanche down 18 percent Shiba Inu down 17 percent So we can see that a lot of these coins have been bleeding out over the last week And and You know the the reason is because of what's going on What happened that last week with the SEC naming a bunch of these cryptos? Securities right and and and basically they've even gone as far as to say that they consider everything a security except Bitcoin right but if you guys remember probably about a month ago when Gary Jensler the head of the SEC was in front of Congress, I believe and They asked him is Ethereum a security he could not answer that question and he like dense he beat around the bush basically he would not directly answer that question and You know, they would they kept asking him Why don't you just give me a direct answer whether or not? Ethereum is a security and and he kept saying that he didn't want to Specify on just one cryptocurrency, but then they're like well you you already said that Bitcoin is not a security So if you already replied to about one specific coin, why don't you just give us another the second biggest crypto in the market? Ethereum can you tell us and he just he would not answer if Ethereum was or was not a security But there have been they have mentioned in the past That they consider everything but Bitcoin a security basically All right, let's let's take a look at the overall market in the past week If you're tuning in live here, you can see I'm looking at crypto bubbles net right now And it gives you an idea of how the overall market is doing and as you guys can see there's a lot of red bubbles so and If we take a look at the top gainers and losers This is this is pretty crazy because there's really not much gainers The only gainer the biggest gainer in the last seven days is XRP up three percent And then there's a bit get token up two percent gate up one percent and that's pretty much it Bitcoin it's popping bit coins popping up here as zero percent Bitcoin is considered a top gainer and it's flat It's at zero point zero percent. So that's pretty funny Top losers as you guys can see here. There's a lot of them There's a lot of top losers starting with chilies, which is down twenty nine point seven percent on in the last seven days Sandbox down twenty eight percent Decentral and down twenty percent axi infinity down twenty seven percent flow down twenty six percent We already spoke about polygons in Solana, but how about Aptos down twenty four percent? So there's definitely been a lot of projects just Bleeding out over the last seven days Now let's go ahead and take a look at the at the economic calendar here and And see what we have coming up this week as I already told you guys in the beginning of this the live stream It is going to be a volatile week. It's going there's a lot going on So let's go ahead and dive into the to the calendar here So the first thing that we're going to run into this week will be tomorrow Tomorrow morning bright and early 830 a.m. Eastern Standard Time We will get the data for Inflation so inflation rate reports are coming out tomorrow now this is Very important. Remember, let me let me pull up some some numbers here As far as CPI data so CPI until last month CPI was the biggest thing basically rolling and igniting the rally in Bitcoin and basically all cryptocurrencies in January on the week of CPI data Bitcoin moved up 24% in February on the week of CPI data Bitcoin went up 14% March Bitcoin went up 25% during the CPI week April Bitcoin went up 9.7% during the week of CPI The last last month was the first time that Bitcoin did not go up this year on the week of CPI And and that was because there was just a lot of bearish talk from From I think the overall markets as far as the overall Fed I think there was during that week there was a lot of talk that they were going to raise interest rates and it wasn't a big move right and in in As far as the inflation report so last month in April Inflation went down from six to five percent and last month the report came out a drop from five percent to four point nine percent So people weren't very excited about a z about a zero point one percent drop off in inflation month over month, right? And maybe that's why so I made Bitcoin actually lost five point four four percent during the week of CPI however If we look again at April We we came in at four point nine percent, right? Consensus was five percent. So we beat consensus barely, but we beat it Because a previous was five percent consensus was at five percent and we ended up going lower So we have kept our streak alive. We've gone one two three four five six seven eight nine ten months in a row of Dingflation Decreasing every single month, right now. We're expecting more of the same come tomorrow morning So right now as you know last month and came in at four point nine percent While it was expected to come in at five percent this month tomorrow We are expected consensus is at four point one percent so that's a zero point eight percent drop off Right that is the consensus the last time that we had a consensus this big was in March where the previous Inflation numbers came in at six percent Consensus was at five point two percent and we actually came in at five percent. So we came in we beat Consensus in March and in March. We had a plus twenty five percent week Right so bitcoins price went up twenty five percent in the March when we Basically dropped by a whole percentage now it looks like there's a potential to set up for the same type of Data tomorrow, so we're at four point nine percent and it's expected to drop off 0.8 percent just like we it was expected in in March So that's something interesting to note Can we drop that full zero point eight percent or more? I I think so I think the consensus has been pretty spot-on over the last, you know, maybe it's been ten months, right? It's been pretty spot-on. So it's there's definitely the possibility where we drop to four point one percent or maybe even lower than four point one percent and And we we start to the bulls take over again As far as but in the markets and in the prices so the traditional markets already are pretty much They have been very very bullish over the last week or so And Bitcoin has not been correlating with the traditional markets at all because of so much news that we've had coming out so You know, maybe this is what can get things back on track With the traditional markets because traditional markets have been going up last week. It had a very bullish week This week it started already very green and they're expecting like I said, they're expecting Inflation to continue to drop here And you can see that in the consensus here. So that's definitely something interesting to take a look at And let's see if we can hit the look that consensus you can see that the the trading economics forecast here Which is this website? I'm not sure exactly how they make these forecasts, but they're they're forecasting a four point three percent For the inflation numbers Last last month. They got it. Correct. They're the consensus was at five percent They had a forecast of four point nine percent and it came in at four point nine But the month before that when the consensus was at five point two percent They had a forecast of five point three percent and inflation came in at five percent So they were there were off further than consensus at that point So I wouldn't be surprised if we can possibly see something like that again So now that's that's just tomorrow, right? That's just Tuesday. So We're not even going into Wednesday yet There's one more thing that is happening on Tuesday now This is not part of the economic calendar, but this is part of an event that we that could potentially You know stir the pot for for the crypto markets and that is going to be let me see it's this right here Um The Hinman Hinman documents, okay Hinman documents, so what are the Hinman documents? So the Hinman documents are basically it was a I want to see a Speech by a previous He was the director of the SEC's corporation finance division from 2017 through 2020 his name was William Hinman and In a now controversial speech given in 2018 Hinman spoke about how decentralization impacts ethereum and bitcoins Regulatory classification and reportedly indicated that the SEC did not consider two crypto assets as securities at the time so because of that The SEC actually tried to to seal Those documents from the Hinman speech. They did not want those documents involved in the Ripple versus SEC case. They wanted them sealed and kept out of that case and You know Ripple one in that Ripple got them so that they can be released and not be sealed So now they can use them in the case against the SEC which is going to be big right because You can see here that the SEC has until June 13th to provide all the Unredacted emails of Hinman's internal communications, right? So so now the SEC has to release Hinman's internal communications by tomorrow tomorrow's that date where it has to be released by and this could you know favor not only ripple but Cryptocurrency in in overall So if there's if this is now, we don't know exactly what you know What's going to be released there? But if this is something that's you know, if the SEC redacted a Lot of that communication the internal communication about this This could be big for crypto overall, right? And not only will it be could it be big for ripple and in its case against the SEC But it could be huge for all the the cryptocurrencies announced by By the SEC's to be securities So that could be huge for Cardano polygon Salana and the other all the other crypto currencies Not only that but that could be huge also for Binance because the SEC is going after Binance and Coinbase Because they're listing quote-unquote securities, right? So now by now Binance is a little bit different because that's just one of the Things that they're that they're sewing Binance over over and going after Binance over So that's just one of the things so even if you know even if they were to to Even if that part helped them they still have a bunch of other charges Going on so their their case that case is a bit more complicated But Coinbase They're only going after Coinbase because they're quote-unquote allegedly They're they're you know selling securities, right? So something like this could be huge for ripple and the Coinbase case So that's something that we're going to be looking forward to tomorrow as well as the CPI data So two big things right come in come in tomorrow with that now That's just Tuesday guys. That's we're just getting the week started. That's just Tuesday Then we're going into Wednesday. What's going on Wednesday? Wednesday is the Fed interest rate decision So you can see here the Fed interest rate decision is going to be at 2 p.m. Eastern Standard Time Before that, there's also PPI month-over-month data that's going to be coming out. I don't expect that to really cause any any type of volatility maybe very very small moves In that initial first hour where the report comes out Maybe, you know, but it's not something I'm really going to be paying too much attention to I think the CPI data is going to be way more important Fed interest rate decision is going to be way more important So as you can see right now if you can't see it, I'll spell it out for you Right now our interest rates are at 5.25 percent Consensus is that there will be a pause and their You know, it will stay at 5.25 percent so The reason this is important is because that'll be the first time that we pause in What over a year? Let me see. Let me let me see how far back I can go in this chart to see Yeah, so This this will probably be the first time that we get a pause in over a year So this is big news, right? This is this is big potentially some something big And if we look here at the target rate probabilities four to four Wednesday's Fed rate decision you can see let me let me refresh it just to update that number. There's a seventy five point eight percent probability of a pause From the Fed on Wednesday So this what this what this tells us is that the market is Expecting a pause in interest rates, right? We're not expecting another hike on Wednesday Now this is good and bad Right, it's good if we get a pause is gonna be amazing, right? I'm sure prices are gonna go up that day and we can expect a very green very overall bullish week and Maybe even because of this event We can expect an overall green month, right? after a pretty slow May however, if The Fed do raise interest rates then we could see a very big dump off for the rest of the week so One thing I always I always tell you guys one thing that I always say Constantly whenever we come to these things is that the market does not like to be wrong, right? The market likes to predict and front-run what they believe is gonna happen and if they're wrong They do not like it. They get very upset. They take their ball and they go home basically So if The feds raise interest rates and the market the overall market is wrong Then they're going to have to price in that That interest rate hike which you know, the market's been slowly pricing in a pause and It'll send prices down right because they they they're not priced in what what's priced in right now is a pause so Something this is gonna be big guys is gonna be big is on Wednesday at 2 p.m. Eastern Standard Time We have The official decision their interest rate hike decision and then at 2 30 p.m. We have the Fed chair Jerome Powell, he's going to be doing a speech. He does a speech for like for about half an hour So and he talks about, you know, what was discussed? What led them to this decision and what their overall outlook is on the market right now? So and the thing is over the last few weeks, they have been in both directions, right? And I've been talking about this, you know, one week They were saying how they were going to raise interest rates and they kept saying it over and over and over They're going to raise interest rates Because inflation was coming into hot steel. They so they were going to raise interest rates Then the next week the following week then they were talking about, you know, maybe it's time for a pause Because raising interest rates are causing a lot of stress on banks So That's what then, you know, this this probability went from Pricing in a raise an interest rate hike another interest rate hike to it went from that to Pricing in a pause So which way which where are they gonna go? We we have no idea because they came out one week They said one thing the next week. They said another thing Where which where they're gonna go? We don't know so that's something to keep in mind if you're trying to trade this Use very very small positions. Make sure to use risk management You don't want to get caught on the wrong end of this When the news comes out so be very careful with that guys Let me see and those are the main Things coming out so so that's the main things coming out this week as far as the economic calendar Right, we have the CPI we have the Hinman documents That's not part of the economic calendar But I'm considering it part of the crypto economic calendar because that could play a big role in all cases versus the SEC and Then the Fed interest rate decision is the last thing on Wednesday We do have let me see. Is there anything else here on On the economic calendar this week We have a few other things on Thursday retail sales month over month and then on Friday, Michigan consumer sentiment Again, those are not really going to affect the market much. I'm not expecting You know anything crazy from those events. So I'm not even going to really Talk about them. So let's go. Let's move on. Let's continue to the next thing here I'm let's jump into some news. We have a lot of news here So we've already touched on a lot of the news actually, but we'll just kind of go over it here and Again guys after this we'll jump into a Bitcoin price analysis And a live Q&A. So if you guys are tuning in live make sure to drop your questions in the comments And I'm going to go over them at the end of this. Okay at the end of the live stream. So Let's jump into the news. So the first thing is the SEC versus everybody, right? SEC is going after everybody is going after anything that has to do with crypto and And we're the ones suffering for it, right? Retail investors are the ones suffering for the SEC doing this as the SEC is always saying that they're Trying to protect the people this and that right yet They're causing massive sell-offs in cryptocurrencies because of these These actions that they're taking right now. They're they're they're basically overly aggressively attacking putting an attack on crypto right now and Causing losses massive losses to the the same people that they're saying that they're trying to protect so Let's take a look here the first thing of course is Robin Hood to deal is Cardano Poly down in Solana. So this this you know Came in as big news, of course because Robin Hood they hold I believe let me see if they have a number here But I believe it was somewhere around the 1.2 1.3 billion dollar range for These three projects as far as what they had to hold or either what what they were holding what their users were holding, right? so What that means is that By as you can see here Support for the three digital assets is set to end on June 27th, which is the deadline for user activity So following the deadline The company stated that any Cardano, Matic and Solana still in your Robin Hood crypto account will be sold For market value and the proceeds will be credited to your Robin Hood buying power So what that means if you don't do anything by the 27th of this month the anyone that hasn't done that hasn't Done anything with those cryptos are gonna be force-sailed, right? They're gonna close those positions So we can see why if they're holding 1.3 billion dollars worth of Cardano, Matic and Solana and Any part of that gets For and let's say a majority of that gets you know, there's a fourth sell on it on it by the 27th then You know that's gonna put a lot of sell pressure to the downside So that's why you've seen the Cardano Matic and Solana down, you know, 20 25 30% over the last week because people are are one there if they're on Robin Hood and they have those on our hood They might be selling already Leading up to the 27th There's there might be more and more people selling and then on the 27th Robin Hood is gonna close Everyone's positions in those coins that haven't sold So one thing to note If you have your crypto in Robin Hood if you have Cardano, Solana, Matic You don't have to sell if you want to keep that crypto If you don't want to sell let's say you're in a loss if you're in a loss You probably shouldn't sell if you want to keep that crypto you can Transfer it from your Robin Hood wallet to a different wallet So if you have you know wallet on Coinbase Gemini, whatever it is Q-Coin maybe You can get that crypto move it out of Robin Hood without having to sell it into You know, whatever other wallet you want to send it to so keep that in mind If you don't want to sell your crypto and you have it in Robin Hood, I am for like for example I have some on Robin Hood You can move it out of there and that's what I'm doing with my crypto. That's on Robin Hood So something to keep in mind guys You don't have to sell So that's the first big thing right that's that was in the news over the last week And after after that was announced right Polygon Solana and Cardano all came out and Responded to the allegations from the SEC Dismissing them right saying that they're not securities So and you can see that that's the Solana Foundation wants to work on establishing clear regulations Right and does not agree that Solana is a security Polygon let me see what Polygon said Maddox was a necessary part of the Polygon technology from day one Ensuring that the network would be secure and remote and remains so to this day Given our focus on network security We made sure Maddox was available to a wide group of persons But only with actions that did not target the US at any time and that that's basically what the statement says So everyone is disagreeing Of course that they're not in the same that they're not a security So we'll have to wait and see how that plays out, but Yeah, there's basically Going to be cases it seems like I'm going with Maddox Solana And Cardano which joins in on Ripple So that's why I'm saying Ripple's case against the SEC is huge for the overall crypto industry because if the if XRP wins Basically any other coin that the SEC tries to go after can use XRP's case To prove that they're also not a security if they're similar to XRP, right? and At that point the SEC I'm sure is probably going to stop it's gonna have to stop going after cryptocurrencies Gary Gensler might even get fired at that point if he loses the case against XRP because if he loses that case That means he's also probably going to lose any other case against any other crypto tokens also Potentially lose the case against Coinbase because now they're no longer selling securities And lose parts of the case against Binance So it's a huge case guys something that everyone should be paying attention to now next is On our news is Binance US suspends USD deposits and missed a missed SEC lawsuit, right? So I They're suspending all USD deposits, and I believe they're also suspending withdraws so you can no longer you know Deposit USD in Binance US and that has to do of course with the With what's been going on with the SEC with the SEC And they said in their statement They said that the SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an Ideological campaign against the American digital asset industry Binance US and our business partners have not been spared in the use of these tactics and Which has created basically a lot of chaos, right? So that's something that's Going to be happening as well And I think they said that that if you have any USD To I think to withdraw it by June 13th, so that would be tomorrow. So by June 13th Make sure to either withdraw it or exchange it for something else if you have it on Binance US What else is going on the SEC chair? Of course Gary Jensler says that crypto frenzy is full of Huxters and scam artists The SEC chair publicly shared his disdain his disdain for crypto and the frenzy around it many times before Speaking remotely at the Piper-Sandler global exchange and fintech conference in New York City Jensler doubled down on his opinion saying most crypto tokens are securities and come under the purview of the SEC so He's just he he's if like it's it's so It feels like a vendetta, right? It feels like he's out for revenge like if the crypto industry did something to him and And you know at first I didn't get it. I was like why is this guy that Just a few years back in 2018 he was at MIT right this guy Gary Jensler was at MIT. He was a professor at MIT Teaching people about cryptocurrency. He even he wouldn't even promote and shill Algorithm right so I Don't get it. I don't get what what is going on or I didn't get it what was going on with Gary Jensler and why he was so aggressively against crypto and You know going after crypto But then I read something and it all started to make sense And that's this right here Binance lawyers say sec chair Jensler applied for advisor role in 2019 So this makes things a little interesting right um The allegations come as a surprise and it says here Gary Jensler applied to serve as an advisory as an advisor for Binance In 2019 before becoming sec chair the court filings say So now this becomes interesting. Did he Did they reject him from the position and Now he has this vendetta against crypto because of that and against specifically against Binance, right? Um It's it's now things are getting pretty interesting and according to the lawyers Jensler was teaching at uh, MIT Um at the time and documents filed for the lawsuit by the sec Wednesday indicate The accusation from Gibson Dunn and Latham and Watkins two of Binance's law firms um According to them Jen Jensler offered to serve as an advisor to the crypto exchange in In uh march 2019 In several conversations with Binance and founder CZ as well as executives of the exchange And he eventually met CZ in japan for lunch later that month So that's that's what the reports say So this is pretty it's pretty interesting Um, the attorney says that CZ continues to stay in touch with jensler after the march meeting Also at the future sec chairs requests CZ sat down for an interview with uh with With jensler as part of a cryptocurrency course. He taught at MIT Then later in 2019 the filings read that jensler was set to testify before the house Financial services committee. It is alleged that he sent CZ a copy of his intended testimony ahead of the hearing So, you know, this is definitely very interesting information that's now coming to light So it seems like he has some something there's something behind This attack on crypto here. Um that now is starting to come out into light And that he's never even spoke about before so, um, definitely very interesting here um Also here last week, uh, the sec filed a motion to freeze crypto held by binance us So, um, they they basically seek a restraining order to freeze binance us assets. They don't want, you know, uh Binance us being able to move any of their assets Um by using that temporary restraining order So, um, I don't know. They they've definitely been Very very aggressive. Um again, it's specifically against binance here. Um, and uh, and of course he attacked coinbase as well um on tuesday when they, uh They revealed their lawsuit against coinbase But coinbase ceo, uh brian armstrong is confident in the impending court battle with the sec And brian armstrong went on, uh, a few different networks did a few different interviews last week, uh speaking about this And speaking about how they've You know, they've met with the sec over I think he said over 20 times Um, trying to get more and more clarifications more more clear guidelines so that they could be compliant with the sec and they got Silence from the sec the entire time. They didn't get anything back from them. Um, also Uh, they he said that the sec You know went over all their stuff. Um before allowing them to IPO back in, uh, 2021 So and so if now the sec is coming back and saying that since 2019 they've been selling securities Like it doesn't even make sense Um, that means that the sec didn't do its due diligence when they allowed them to go, uh into IPO So, um, it just a lot of it doesn't make sense, right? It just it doesn't make sense Um, but armstrong said that he's happy to finally, uh, take the sec to court And you know to finally get some clarity on, uh, guidelines for crypto, you know, there's no path to come in and register Um, they simply they they reject most of the assets, uh They reject every everybody that comes to, you know, looking for clarity or whatever. So, um There's a lot going on here. A lot of it doesn't make sense. A lot of it is just contradicting um, but, uh, you know, armstrong is definitely very confident in taking the sec to court And they said that they're going to fight, you know The full thing out there. They're going to fight it out. They're not going to to sit down They're not going to lay down roll over for the sec or anything like that. They have the funds to do it Um as one of the biggest crypto exchanges in crypto, right in the space And they're an IPO company. So, um, they definitely have the funds to Fight back So that's going to be probably a big long battle. I expect there um And other than that, uh, Coinbase was issued a show cause notice by 10 us states Those states are illinois vermont, alabama, kentucky, california, maryland, wisconsin, washington, new jersey and south carolina And this happened the same day That the uh, that the lawsuit came out right against coinbase. So that means that That this was planned out because you know How how does this all happen so fast on the same day? So, um, basically those states, uh Issued a season to sys order for the sale of unregistered security So, um, again, this is this is going to be definitely Big overall for the crypto space, but I think in at the end of it, um Hopefully and and you know, hopefully We're going to get clarity. We're going to get some clear regulations For the space for cryptocurrencies because right now by the sec doing all of this They're pushing, uh crypto Companies out of the us. They're they're pushing innovation in cryptocurrency out of the us And they're they're falling the us is going to fall behind point blank Um, because cryptocurrency is not going anywhere. So you either adapt and learn to live with it And make it part of what's going on or you're going to get left behind So, um, and as we can see the us dollar is falling, you know And and there's already a bunch of other countries starting their own currencies or trading in different currencies now So, um, you know, the the us dollar is definitely getting weak. Um It and it might soon no longer be the world currency, right? Um, it might move to something else And that something else could even be a cryptocurrency. So, uh I don't know. We got to see um, as you can see in this report here over 50 percent of bitcoin on exchanges Have moved outside the us due to regulatory uncertainty. So, um, you know, and this is not just Uh, you know 50 percent of of bitcoin, but uh, also Coinbase is opening things, uh in international, right? They're opening up an international thing for them And now there's other cryptocurrency, uh companies going international. So Um, it it's leaving the us and this this is bad for the us overall So now that we have covered all of that Um, we're gonna i'm gonna take a sip of water here. Uh, i'm gonna look over to see what's going on Um with you guys, we have a few people in here right now. What's going on? Uh sing You said what's up, man? After a long time, we have 100 deaths. Howdy partners. How you doing if you guys are in here Make sure to uh to to say hi drop a drop a high in the comments And uh, don't forget i'm now, uh, i'm going to do a market analysis on bitcoin and then i'm gonna do a live q&a So if you guys have any questions about either anything going on right now in the market anything that i've covered already That or i'm about to cover drop it in the comments. Um, i'm more than happy to answer those for you guys Let me drink some water and then we will continue here with the bitcoin market analysis So i have my big my big big thing of water here i've been trying to Drink as much water as possible lately I'm supposed to drink apparently 83 ounces of water per day for my body weight Um, i've been i've been around 50 ounces though is is pretty much where i've been So, uh, let's see if i could hit a new all-time high today. All right, so let's pull up here the charts And we can see bitcoin really hasn't moved since we started the live stream today here today Pretty much sitting at the same spot pretty much Down about half a percent on the day Um Let's take a look here. Let's see what uh What could potentially happen here what we're what i'm looking at um What i'm looking at here for this upcoming week what levels i'm going to be watching and um And how i'm going to look to play it this week right i i definitely uh expect Volume and volatility to come into the market this week And i'm going to look to take advantage of it in regardless in which direction it goes So let's let's start off with the weekly And uh, we we spoke about this already Um in the beginning of the show There was a big 200 uh moving day moving Week sorry moving week weekly moving average That we recently just lost and if we go to a different chart here that charts back A lot further Let's uh take a look at this one right here. You could ignore all the other things We're the only thing we're focusing here on is the blue line We can see that that blue line has acted as a support for bitcoin For many many years going all the way back to 2015. That's the first time that um in 2015 Where that 200 week moving average plays as a support there You can see that we bounced there during the bear market and then uh went started began the uh bull market Then once again in 2018 we bounced on it during the bear market. It's pushed up for a new uh bull market During covid during the the whole covid thing back in 2020 Once again, we had a huge dump off right down to that 200 week moving average We bounced there and continued up set up new all-time highs during that uh next bull market And then what happened this bear market for the first time ever we lost that 200 week moving average Right. Um, we lost it here when we lost it. We dropped down to about 15 000 And then we've slowly fought our way back this year basically right starting uh in january really if you if you look at it here Um, we set those lows back in november december and in january is when we really started that move back up Since january, uh, we fought long and hard You can see that we tested it here for the first time back in uh in february And then we finally broke above it in march for the first time right and that was the first time We're back above that since august of 2022 So now What's happened here? We have returned to retest it and now As far as last week we closed below this once again below that 20 that 200 week moving average So what happens now? Is well, we don't have that big support there anymore Now does that mean that that we can't break above it? No, but it could potentially now be a resistance and that Price is currently at around 26 500 So that's going to be a resistance now. Um, if we get a big a move back to the upside, right? Um Now, um, if we go back to my other, uh, chart here We're gonna see, um, the reason the main resistance and, uh, support areas that I have here and that's going to be the the The main resistance right now for us is going to be above Uh, $29,000 basically so anywhere between 29 to 31,000 if bitcoins price gets that level There's going to be a lot of selling there. So we're going to need a lot of volume to break above that So, um, that's the first point of interest, right? Then we drop down to where we currently are right now Um, we can see that the big support that's now going to be set up as a resistance area is between Basically 26 27,000 Um, up to about 28,000 right that was a big support there We've been there using that as support since, uh, march of this year And we've lost that support for the first time since march of this year So if we if this week or sometime soon, we don't regain that support and that's basically above that 26,700 range Um, if we don't get back above that Um, that's going to be another resistance now, right? That's a support flips into resistance And that could push us back down to that next support level which I have drawn out here And that's going to be in that 24,000 dollar range. So we're already at 25 So, um, that next support is going to be 24,000 dollars And if we were to lose that then the next main big support is going to be sitting at 20,000 dollars So those are the main supports and resistances that i'm watching and looking at right now Um, let's let's zoom in a bit here to the daily time frame now And you can you can see a clearer picture on what's going on day to day Um, you know where how the price has been rejected at these resistance levels how it's been How it's bounced at these supports And now, you know, we it looks like we've lost this support here. So the next, uh Point of interest for support is potentially down here. This is at 24,000 dollar range um We also have the 200 day moving average that's sitting around 23,500 um, so so there's there's there is support here to the downside, but um You know a lot of this is going to be Which way we're going to go is is going to be decided in the next two days And that's pretty much what what i'm looking for what i'm waiting for and what i believe right now Depending what happens these next two days is how the market, you know, which way we're going to go If we're going to drop down to that 24,000 level or if we're going to drop back up And above and possibly retest this, uh, resistance level up here at 30,000 Depending what happens in these next two days Is going to pretty much um Be how the rest of the month probably goes um, we saw that last month When uh, cpi data came out Um during the cpi week remember we had a it was it was a red week the first time in, uh, all year That during cpi it was red And uh, we saw the rest of the month basically went the same right we ended that month The two how that month ended. Um, we ended that month down 6.93 percent basically down 7 This month so far we're we're down 5 already 5.2 percent Depending how these next two days go is probably going to you know Is is going to uh, direct us which way we're going to end the month So, um, if cpi data tomorrow comes out Uh, or or at or better than 10 senses I expect prices here to begin to push back up, right? And i'm not going to say that they're going is going to be a full out run up, um because We still have, uh, uncertainty for wednesday, right wednesday. We have the uh, The interest rate decision so I think but I think if inflation data comes out At at where expected or better than expected better than consensus Um, we push back them to up into this green zone, right? That that's between 26 27 000 And then if on wednesday, we do, uh, get the pause Then we can potentially push up even higher maybe back into that 28 000 range Um, and that could set up, you know set us up for the rest of the month where we can potentially, you know, um Move and you know retest maybe these higher resistance ranges up here, uh, 29 to 31 thousand dollars Now i'm not saying we're going to go directly up to that Because there's there's still so much So much happening in the crypto space right now with all these with the sec being so aggressively and targeting, uh, crypto so aggressively right now so, um That's the that's the main things that were that we're watching for uh For the next two days and and pretty much for the rest of this week I think if we get bullish news tomorrow and wednesday, um, we will definitely end this week green And we will most likely end the month green So remember the month opened up, um It opened up at Let's see open was at 27 210 So I think if uh the next two days depending what happens the next two days if it's bullish We should close the month Above that 27 210 potentially up in that 28 000 range However, if uh the next two days we get, uh, bearish news bearish, um You know results as far as cpi data as far as the interest rates Then we're gonna for sure retest the 24 000 dollar range. That's a given right 100 percent. We will, uh, drop down at least To a minimum of 24 000 Um, we'll flush out all these lows here and we're gonna set new lows and, um, potentially Throughout the rest of the month we could even see a further, uh, pullback here and continue down lower so, um, that's what i'm saying a lot of this is going to ride on What happens these next two days now remember? We've been speaking about a pullback end correction and consolidation for the last few months And uh, we first spoke about this, um And the reason why was because if you pull up the rsi We showed you guys the bearish divergence Right, so we spoke about this you could go back on the show, um for the last few months Anytime we've done the show, um, and we we have spoke about this Um, we've seen this bearish divergence Since we topped out here back in april and we we were speaking about this right, um, because the price was setting up higher highs while momentum Was setting up lower lows So when those two things don't agree with each other There is either one a long period of consolidation, which we have definitely got in here, right? We've gotten a lots of consolidation over the last what two three months and, um There's a pullback right and once again, we've seen a big pullback here Um, it hasn't been a huge pullback, but nonetheless we've we've gotten this pullback. So um from that high To where we currently are right now. That's a 17 percent pullback Right, so we've dropped 17 percent since we marked that high and since we've been speaking about, you know potential consolidation potential pullbacks Etc etc because of this bearish divergence And if you go back in time Let me see if this chart shows it Anytime we've we've had similar situations um Looking back over here if we look back in, uh During the last bull market where we were doing the same thing prices were setting up higher highs RSI was setting up lower lows We had a 51 drop During that time and this is during a bull market, right? We had a 51 drop during that time Now this of course a lot of things happened during that time, right? Uh in may of 2021 I think china banned bitcoin again. I think tesla stopped accepting bitcoin. There's all the talk about Um, you know bitcoin mining taking up too much energy not being green etc etc So there were more things than than just the technical the technicals on this But it all kind of played a part together, right? And we're seeing something similar here um You know, it's not just going to be the technicals. Yes the technicals have been showing a bearish move for the past Probably two two months or so um You you can really go all the way back to to march um Or even all the way back to february when uh, there was just a big drop-off there in uh momentum Versus price was set up a new high um But you know right now with this with this bearish divergence plus uh the news about the scc Plus the tokens being sued exchanges being sued like all these things going on. Um, they're just kind of creating that perfect storm Where we could see further pullbacks, right? So, um, not saying that we're going to drop 51 From that high because that'll put us right back at the at the lows that we tested You know the yearly lows, right or at the lows of this bear market I don't think we go back to 15 000 like if I had to bet if I had to put my money on it I would say that no we don't that I would say that No, we don't retest these bear market lows and I would also say that I do believe that the bottom is in for the bear market But It doesn't mean that's a 100 percent thing, right? I'm just From what I've seen from my experience from what I'm looking at. I don't think that's something that'll happen Doesn't mean it won't happen, right? I could definitely be wrong So, um, just kind of giving you guys an idea there. So, um, we're we're kind of over the time. I'm over the hour The way I'm looking to play it. Let me end it with that, uh, this week If we get if I see that we get some movement to the upside. I'm definitely looking for a long Um, potentially above 26 ish, um, I probably want to want to be above this number here That's at 26,210. So probably maybe above 26 to 10 Open up along Um, now if I do open up along here, we're going to need some space some room for the volatility So that's the other thing, right? So, um You know It's it's you do want to like open up along at the current price because it's the risk is less here Right now. Like if we were to open up along right now, um, we can just kind of put You know, uh, our stop loss below the low, right, which would be 23,300. Let's say we put our stop loss below 23,300 We can put make our targets That's what the risk there would be about $500 or so Um, so our first target has to be at least We at least one on one to one on our first target. So, um, $500 from here That's seven eight. Well, let's say that we enter 800, right eight nine ten one two three So it's 26,300. Could we hit that? Um, yeah, I mean we can we haven't hit it in a few days since saturday Um, we haven't seen that since saturday, but we we can definitely see it. We we saw on tuesday how we ran up from, um Where do we open 25,720 basically the same exact position where we're at now and we ran up to a high of 27,363 so, um You know, we we can definitely we can definitely see something like that happening now my issue with opening a position here Is that we're kind of in no man's land, right and with with the news coming out tomorrow um You know, we could go in either direction Um I don't know it that's why when i'm unsure when i'm like Filling the way i'm filling right now saying i don't know about opening up his position here Then it's usually best for me not to open up his position there, right? So I want to see some momentum and volume come in and push price up higher So I wanted to see it at a minimum above yesterday's price, which was 26,210 So at a minimum, I want to see it above that Ideally I want to see it probably back above the 200 week moving average Um, which is sitting around 26,500. So that's probably around the range that i'm looking for to open a long position here. Um If I think that you know, we do continue moving up Uh Now to the downside Basically if we lose 25,000, I'm going to open up a short. So I have short positions Set up. I'm going to be setting them up Below 25,000 if we lose 25, there's a big chance that we just kind of drop Um all the way down to 24 Um, so I think I think that's that's a potentially Good trade to take there on the short side Um, and if you if you don't want to open up a position right here Right now to the long side, you can potentially look for something above 27,000 The issue at 27,000 is that now it's getting to that extended area, right? You can see here when we had that big move up Um at 27,000 it's pretty much where we stalled So, um Yeah, that's that's pretty much, you know, you could open a position right now Stop loss below 25, 3 below the the recent low Um, you know, your your first tp your first target Has to be at least one to one to your stop loss, right? So, um, that would put you at around 26,300 So now you're looking at can it can we hit 26,300? Yeah, we definitely could Depending on the news tomorrow. So, um, not a bad trade to take. I'm probably not taking it But not a bad trade to take Because you know, you're going to be playing the news basically at that point So depending on how the news comes out, you're either going to hit or miss that trade just based on that So if you want to play the news Um, you can do that just you know Just kind of set it up. Know where you're getting in know where you're getting out if you if you're wrong And uh, you know, it's not it's not a bad risk to reward there Because if you're right, um, I'm sure price is going to fly at least to 27,000 And uh, you can take your first profits at least at 26 three And then kind of you know slowly take our profits on the way up. I'm sure we hit at least 27,000 dollars Um with bullish news tomorrow all right, um Let's jump into some q&a guys So we've we've looked at we've gone over Prices what's going on all over the the the market we've we talked about the news everything that's been happening over the last week Um, we've also uh did an analysis on bitcoin's price Where things might be going based on news? Uh looking at major support and resistance areas Um, now i'm gonna take some q&a here Uh, let me look here at the comments Dd said are those out considered dead now? No, definitely not. Um You know just like xrp xrp right now is in a case against sec and they've been fighting against sec for the last few years so, um right now, um You know, it's something that You know, the price might go down lower for these for those projects That that were listed as potentially securities, right? And they might get stuck kind of like xrp where it's been stuck for a few years in that same price range As it's been fighting against the sec that could definitely happen However, i'm at this point I'm using these prices and these drop-offs down, you know down 20 30 20 to 30 percent So to add more to my long-term bags So if you're looking for if you're building up positions for a long term Um, which is should be on spot Like you should just be buying and leaving it for at least a minimum of the next one to two years Right, um, if you're looking for quick profits, then I wouldn't recommend buying at this point Um, I'd say yeah, if you're look if you're in it for the long term and you don't need that money You know, you're fine. Just putting it somewhere so letting it sit for the next two years Um, I think now's a great opportunity I think there's a big overreaction right now and I think crypto will prevail So, uh, yeah, I think long term. I'm still bullish on all those cryptos Not all the cryptos that they mentioned but the the main three, uh, solana cardano and, um and mattox I'm bullish on those three Um, I'm definitely definitely adding to to my bags right now. They're down 90 percent from all-time highs They're down 20 to 30 percent in the last few days. I am I am buying. I already bought last week I bought last week three times. I'm buying this week again, um, if they go down any further So, um, again dca dollar cost average is the best way to do that. Um, don't put don't just do a lump sum Um, just buy a little bit at a time even if it's like 20 dollars Anytime it goes down, you know a few percent or percent 20 dollars every time it drops a percent, right? Um, or something like that you can build your own however you want to set it up Just uh, make kind of make a plan around it Make sure you're you're you're building for the long term and not for for you know Next month next week, whatever the case may be Um, I think now and from my previous experience remember guys, I've been in it since 2016 I made the most money in crypto not in not during the bit the bull market, but during the bear market All right, uh, and and the way I made the most money was by buying when everybody was afraid buying the fear buying the blood Um, and building up those positions for very very cheap, right? Um, I remember during the last bear market, um, ethereum was trading under 100 dollars at at one point, right? Um, like that was the perfect time to buy that was the easy 10 10 20 30 40 x Uh during the last uh boron So, um, I think we're gonna see similar things, right? And and that's happened to me in the last I've I've gone through two bear markets now at this point is my third bear market I'm just using the same I'm doing the same exact thing during the bear market Is when you have all that fiat that you should have taken profit from in during the bull market And the bear market is where you just throw money in throw it every week You have to set up a weekly budget Put money in every week buy your favorite projects that you believe in that have utility that have a use case Um, that you believe is gonna be in Be be be around for the next five ten years You buy those up and then when the bull market comes around That's when you you're starting to take profits the same way you were buying weekly during the bear market you're taking profits weekly during the bull market and uh, And that's how you build back up your fiat, right? You build back up that that cash reserve And then by the end of the bull market you should mostly at that point be in cash And then you just kind of sit back wait for prices to drop once you see that they drop over 50 percent You start throwing money back in slowly, right little by little And you do that you just do that over and over and over as long as the cycles remain the same You just keep doing that over and over and over and that's how you multiply your funds, right? I started with eight hundred dollars eight hundred dollars became, you know, 20 30 thousand dollars my first, uh bear the bull market then, uh That 20 30 thousand dollars became 100 200 300 400 500 thousand dollars During my second bear the bull market and and then you just kind of keep doing that you keep multiplying multiplying that money Um, and as long as you do that strategically the right way And and you don't need to be an insane trader and know how to trade know how to day trade or anything You just gotta gotta understand the fundamentals and and how the macro, uh How it moves overall with the rest of the economy the rest of the market through with its cycles So as long as you understand those things then you can definitely Continue to multiply your funds So, um, hopefully that answered your question. I was kind of long-winded, but hopefully it gave you, um, kind of what you were looking for there um, the next question is Hi, since bitcoin dominance is increasing any possibility of moving towards 35k. So, um Let's let's take a look here at bitcoin dominance so that everyone can see what he's talking about and if we Look all the way back here. We look at look at it in the weekly Um, we can see that we just Set up a new high. This is the highest bit the bitcoin dominance has been Since may of 2021. So in two years, this is the highest that bitcoin's dominance has been Right. So what what does that mean? What exactly does that mean? um So bitcoin dominance if you if you don't know what it means Is the amount of money In crypto right out of all the money in crypto How much of it is in bitcoin? And that's simply as simple as I can explain and describe what bitcoin dominance is So if bitcoin dominance is at 49 that means that 49 percent of all the funds in crypto Are in bitcoin, right? Hopefully that makes sense So what what's been happening here and the reason that in the last week Bitcoin dominance went from opening at 47.5 percent to to a high of where we're at right now um 49.19 percent is because people are afraid of outcoins right now um And what's been happening with outcoins? So they're taking their money anyone that had money in outcoins not anyone but a lot of people that had money in outcoins Have decided to sell their outcoins and move their funds into bitcoin because they feel that bitcoin is safer As of this moment right now So um, that's basically what that play is um, uh, and that's mostly people with more money are are Are moving funds into bitcoin rather than keeping it in outcoins just to be safer. So um And I've spoke about this a little bit before The more money you have the bigger portfolio is then the more it you you have to shift your mindset from Just making profits to preserving capital, right? So if you make them if you have a million dollars You're the most important thing for your portfolio is to preserve your capital You so you want to your risk has to drop significantly Um, and you have to be in safer things, right? So where your risk is is not as high So outcoins risk is always going to be higher reward is always going to be higher. So, um If you have a thousand dollars I would and you know, if you have a thousand dollars, I wouldn't even recommend You want to take more risk because a thousand dollars If you lose it, of course is going to hurt But it's not life-changing type of hurt. Do you know what I mean? If you lose a thousand dollars It's not as bad as losing a million dollars, right? Anyone can make a thousand dollars in a month doing Basically anything, right? you can go and cut A bunch of yards For the for the next 30 days straight just go go door to door knocking Asking people you can cut their yard for 20 bucks and you you can make a thousand dollars in a month, right? um but You can't just go and do the same thing and make a million dollars in a month, right? So that's why It's it's different, right? So when you have less money, you want to take on more risk when you have more money You want to take on less risk. So that's why uh, you'll see a lot of times funds move into bitcoin Because the bigger players are they they put their funds in bitcoin since it's safer overall So that's kind of what we're seeing here bitcoin is going to be safer. So more more bitcoin dominance is going to happen here Also the reason why they're putting money into bitcoin because SEC has has stated that everything is a security except bitcoin. So that's another reason why Can it go to 35 000 was the next part of your question there? Um Can it run? I mean it of course, right? It at the end of the day bitcoin does The unthinkable right it it goes on runs that no one thinks is possible now. Can it go because of Of its dominance moving up Can't now remember If the dominance moves up but prices fall down It doesn't mean that price of bitcoin is going to go up if we if we pull up the dominance chart um bitcoin dominance chart Just I want to I want to It's easier to show you guys all right, here we go. So We can see here if bitcoins dominance goes up But bitcoins price goes down Outcoins dump, right? That's exactly what's happening right now Bitcoin dominance is going up bitcoin price is going down But outcoins are dumping hard right now. Why is that? That's because Bitcoins price is dropping right And even with the drop of bitcoins price its dominance is going up. So that means that money is flowing out of outcoins into bitcoin Or just out of the market overall and money is not flowing into outcoins That's that's basically what that means bitcoin's going down Um, and it's taking any money that's in the market is staying in bitcoin or they're putting it in bitcoin That's why out are dumping now if bitcoin's dominance goes up and bitcoin's price goes up Outcoins also go down Because majority of the money is flowing into bitcoin if majority of money is flowing into bitcoin The dominance is going to go up outcoins are going to go down um, so That's basically what we're seeing right now. So just because it's dominance goes up. It doesn't mean that price goes up, right? um, it doesn't have to go up because The dominance goes up. I think, uh Dominance just because its dominance is going up doesn't mean this price is going to go up to 35 000 um I think we stay in the same range that we're currently at right now If let's say in the scenario that we get very bullish news these next two days, I think, uh We're still going to be running into a lot of resistance starting at 28 000 And up to 29 to 31 000 that's going to be a big range of resistance still there I don't think just because we get good let's say we get the most bullish news ever the next two days I still don't know if we can break above 30 000. Um, unless we get Even more bullish news, right? Um, because even from current prices right now Let's see Um, if we were to move from current prices to, uh, let's say 29 000 That's about a 12 and a half percent move And then to get to the 31 000 which is the high that we set up last time. That's a 20 percent move Can it happen? Of course it can. Bitcoin has done this a bunch of times But you know 35 000 that's a 36 percent move What what would be needed? In crypto to see a 35 percent move Um that fast First it would start with this week getting bullish news from CPI and interest rates Then we probably also need bullish news from xrp versus sec and bullish news from coinbase and finance versus sec I think if all those things happens, which I don't think we're going to see all of that this month um Then we could see a move up to 30 up to 35 000 Which would also be a 35 percent move Um, I don't think we see that yet. I don't think we're there yet Uh, we I think first we have to really get past this 30 000 move I think even after we get past 30 000 We'll probably return. We'll probably get stuck at 32 and pull back and test this several times as a resistance, I mean as a support Um before being able to continue up to that 35 to 36 37 000 range So that's that's pretty much what the way I see it right now. Um, you know, I don't think we're going to just jump $10 000 solely on the fact that Bitcoin dominance is going up. Bitcoin dominance doesn't mean price is going to go up or it's not an indicator for a move coming or A jump in price coming or anything like that. So Um, if anything bitcoin dominance, it is a bigger signal for outcoins is what I would say All right, um, all right We got one last question where we've been live for an hour and a half So we're way above where what we usually do at one hour. Um, the last question here is I'm hearing about a potential further 80 drop in the price of many outcoins potential for this or just fud Well, I'm uh anytime I see anything like that was saying, you know Ridiculous numbers like 80 percent. Um, that's right off the bat. That's fud, right? Why why why would Why would it be 80% like such a specific number? All the most of these coins already down about 80 to 90 percent So why would we drop another 80 percent? Um I don't think so, uh in order for that to happen Bitcoin would also have to drop Um, basically at least at minimum another 40 to 50 percent Um Can that happen? You know, it can if we were to get a lot of bearish news If we have bad cpi data tomorrow, we have a rate hike on wednesday if Uh sec wins the case against xrp. They win their case against coinbase against binance Like those are the things that would need to all happen. It would have to be a perfect storm For bitcoin to drop back to new lows. Remember we hit this low here Um This low right here, when was this low set? When did we get this big candle of minus 22 percent? That's when the ftx collapsed, right? ftx collapsed, um, then we saw Block 5 collapse Voyager collapse All these other things collapse. That's when we got this huge huge red candle um That we got here for bitcoin Similar red candles in our coins right, so um, that was A huge event So we would need something Just as big here in order to see another 80 drop in outcoins. I think um You know, definitely sec announcing that All these coins or securities Are are definitely a big deal, but they're not that's not a big enough deal to drop coins another 80 percent In order for them to drop another 80 percent. They would have to win cases against those coins. So If they won their a case against xrp, which is not looking like so far. It's looking like they're losing Right and this is coming from lawyers not from me I I've read and watched reports from uh lawyers And they're all saying that xrp is winning and that's why the sec keeps, you know, um Uh redacting information and they're trying to seal documents and they're trying to continue um expanding and and Delaying the court case. So I so that it costs more and more and more money to and so and because they're they're trying to find Something they don't have anything yet if they had anything they would have won the case against xrp already But because they don't have anything They have to keep you know using all these dirty tactics basically To buy themselves more time as a they're trying to you know To figure out how can they win this case? I don't think they win the case against xrp. I think it ends up in a settlement Right and part of that settlement is going to be that xrp is not a security And if xrp is not a security then pretty much um No other coin will ever be deemed a security at that point um As long as it's anything similar to xrp So that would be very very bullish for xrp and all outcoins now in the case that you know xrp did lose Its case versus the sec then that's a whole different story Then we can see another 80 drop because now xrp is going to be considered a security And now all these other coins that they're going after could also be Looked at as a security and they could look back on this case and be like xrp with a security with And it did this this and that these coins do the same thing as xrp So they are also securities and that's it. It's going to be that simple to win a case So in that if that happens, yeah, we can see another 80 drop from current prices I don't think that's going to happen though Because if it was going to happen, I feel like it would have already happened right So, um, and again, it's not financial advice. Just my opinions from what I've been researching reading watching From lawyers that are experts in this field And it looks like they're just delaying the inevitable the inevitable and uh inevitable there we go inevitable They're delaying the inevitable That's going to be eventually going to be a settlement xrp probably have to take a slap on a wrist pay a fine But not be deemed a security, which is the main thing in the case Um And with that I'm going to wrap things up guys. Thank you so much for tuning in For everybody that tuned in. I know it's been a lot longer than usual hour and a half today Um, but I appreciate you guys. I'll be uh doing this again next week on monday Hopefully back with the co-host Um, and yeah, I hope you guys aren't tired of hearing my voice already for the last hour and a half Uh, but but again, thank you guys. I am planning to uh soon put this on podcast I want to start turning these livestreams into podcasts Uh, I think I'll be pretty cool get more reach and get something new and for people those that don't have time To watch this live or on youtube or whatever the case may be They also have access to it. Um I think we put out put out a lot of good information here that could benefit people and that could benefit more people if We can reach them. So, uh, that's the next step for this live stream So we're going to continue to do let's talk crypto weekly and maybe Hopefully we get to the point where we do this multiple times a week. Um, I think that'll that'll be fun to do as well But uh, I appreciate you guys. Uh, especially everybody that that asked the questions and wrote in the comments here Rodrigo DD Ravi ducky Dave Rodrigo Appreciate you guys much respect and I'll see you guys on the next one be here again next Monday at 1 p.m. Eastern Standard Time and uh Good luck this week guys Tuesday and Wednesday is going to be a wild week. So, um If you guys want to know everything that I'm doing personally I share all my moves all my trades All my thoughts on my opinions my perspectives on the day-to-day basis on a discord So, uh, the link of that is in the description below Um, and that's pretty much it guys. I'll see you on the next one as always peace and love