 Hello friends in thanks for hanging out with us here on the mark report at Cointelegraph I am your host Benton and we're joined again by our resident experts Marcel Peckman and Sam Borgie Sam Borgie is a business editor at Cointelegraph where he brings a decade of experience in economic analysis and financial market writing Marcel Peckman applies as 17 years of experience trading derivatives options futures to the crypto derivatives markets What is up guys how we feel in this week? Marcel what's going on? Dude, I think the longer we stay below $25,000. So this bear market stays with us So uncertainties now people first people were saying oh, it's because of 3ac the crash Voyager Celsius now they shifted. No, no, it's because of the global monetary recession So people were still struggling to find excuses to explain why Bitcoin is below $40,000 So when these things happen, it shows me that we should have been we should be right now above $40,000 But the market is scared so it could take another couple of months But when the sentiment shifts, it's gonna be quick because excuses are being made to justify Bitcoin being below $40,000 Cretates and Sam what's going on this week, man? Well, it's still pretty status quo, isn't it? I don't really see anything new coming nothing has really changed in the market as far as I can tell but there's a lot of Interesting forecasts being put out. So right now. I'm still status quo more or less We saw a slight recovery and now things are kind of starting to shallow out We're gonna dive into some of the biggest headlines Vitalik Peter and throwing some shade at Michael Saylor this week We're gonna be talking Bitcoin and Ethereum where those both will be heading next Marcel's gonna give you his expert takes as to what he's seeing from the professional trader standpoint But first things first folks, we want to thank everybody for jumping in today's show We appreciate all of our loyal fans out there a big shout out to Catherine Vikram wrong again Good to see everyone back. Feel free to drop your questions or comments in the chat and make sure you like and subscribe Coin telegraph on YouTube. We're here every Tuesday at 12 p.m. Eastern and folks. Don't forget We are giving away $50 to the coin telegraph store today So drop your Twitter handle in the chat for your chance to win So let's get things started here with our weekly roundup to give you some of the biggest highlights from crypto Twitter this week So do know let's go ahead and jump in always Always a pleasure to see that there's another scam or a hack going on it wouldn't be the crypto space without it So some of the biggest headlines from the crypto Twitter sphere, but first I think we have some memes to get into this week So let's go ahead and show you some of the latest memes for this week. What do we got first here? You tell your friends to buy Bitcoin it pumps the next day. That is the the prodigy We all love that Bitcoin is worthless cool. Send me one of them for free. Yeah, not happen Can't have my Bitcoin Dogecoin just made up money with an infinite supply Federal reserve tucking its tail. Yeah, that's about right when it's career day and your dad walk in with his NFT That's great next generation grown-ups gonna have it real good Fantastic job again Adrian Dennell. Thanks for the memes this week. I always enjoyed the chuckle I see folks joining in from around the globe tells where you're tuning in from today Thanks for jumping into the market report. I know we're gonna dive in to some very interesting topics this week Vitalik buterin throwing that shade across the Twitter sphere tweeting at Michael Saylor One of the big headlines we're gonna dive into but first I want to talk to you about a little bit of Bitcoin So let's go ahead and jump into our first article here that we have pulled up for you So Danila if you wouldn't mind just pulling up my screen Headlines gonna read Bitcoin bulls event 23k and mid-warning bear market rally alive and well guys What did we see so far this 23k mark seems to be kind of holding? We haven't really broken that far above it. What is this telling you and why is this such an important key metric right now Marcel? But I don't think that 23 or $22,000 is an important metric I think what Bitcoin needs to do right now. It's stay above $19,000 because if we see another rest test of $19,000 for some reason investors thought we start beginning. Well We were at $18,000 just a month or two months ago now we're rest at retesting 19,000 So what's going on here is the fundamentals improving or not because when we shift the fundamentals of Bitcoin for instance the number of transactions of number of Active users using Bitcoin or lighting network itself It has little over 4000 bitcoins, which is way too small compared to Ethereum DeFi for instance So adoption in terms of companies or countries. It's stagnated over the past six months So if the prices plunges back to $19,000 I think investors will rethink their position and say well if it's plunging to $19,000 Maybe it's better to sit and wait because it can drop to 15 or $16,000 So I'm going to add my positions and wait for a better entry point So if it flows above $20,000, I don't think investors should be concerned right now the one thing I will point out Marcel is that the the key level of 22800 is where this 200 week moving average stands We just broke above it with a couple wicks, but wasn't necessarily that compelling So you see rec capital tree to tweet out the new BTC weekly close above the 200 week moving average means that price will retest This moving average as new support this week BTC already held the MA as support last week as evidenced by the downside wick So that's what kind of this article is is alluding to Saying that even though this isn't hyper critical for the overall macro of Bitcoin that in the short term If this level holds it seems to me that this could continue to form support moving forward So Sam, what is your take on what's going on right now? With kind of the recent rise above this this moving average. What is this telling you has your take change at all over the recent weeks? Well, I suppose the big question on everyone's mind is have we bottomed or not? I mean that is really the critical question. I know that we had an interview with Mark Yusko recently We all love Mark. I had a pleasure of meeting him in Miami and he basically said we bottomed Which he made a compelling case for that. Obviously the 200 day moving average is very significant My thesis is still that we have another wick lower probably in the fall The activity that we've seen over the past few weeks. I didn't really change that Although we are seeing some buyers to have been around the $20,000 mark. I mean that's been defended Quite a few times Surprisingly to me because we haven't really seen that volume signature To indicate that the market has flipped But there's a lot of people bargain hunting around 20k and it seems like a lot more people are adding that position I expect that the number of whole coiners is going to be rising substantially over this period as people buy these low levels. So overall My overview hasn't really changed. I still see us probably bottoming out with the broader mackerel bottom in the fall and We can begin the new four-year cycle after that, but Overall, we're just splitting hairs here bitcoin at 22 or at 19 or at 16 It's not going to make a difference 18 months from now The one other excerpt that I wanted to point out from this article is that they talk about some of the on-train metrics some of Sam's favorite statistics to the review One of the quotes from this article is that however under the surface on chain Transactual demands remain lackluster at best and this rally has not yet seen a convincing fall through an observable demand activity So kind of adding to Sam's point there is that demand Isn't there however, a lot of people are kind of targeting that 20k level in adding into their position So the last question that I wanted to ask and then that we looks like we have a couple questions here in chat Is it we saw kind of a little bit of a rally after the meeting the FOMC meeting last week? Why why are we rallying out of these FOMC meetings a 75 basis point like like Sam? What's your take as to why this is happening? Well aside from the fact that we live in a clown world Let me see I Think I think Powell during the interview portion or during the press conference Basically said that the Fed will begin to shift to be more data-driven Now the Fed is always so-called data-driven But it seemed like some people read some of his comments to mean that okay now The federal funds rate is moving to a more neutral level. We can start maybe to decelerate the pace of our rate hikes We're still gonna be hiking, but maybe not as aggressively so investors I think took that to mean that maybe the worst of the of the rate hike pain is behind us So again grasping at straws. I Still see us going up a lot more or maybe not a lot more, but at least a few more rate hikes into the fall I think investors are still underestimating how much the Fed can hike given the fact that inflation is where it's at Even if the CPI print is zero the rest of the year the overall 2022 CPI rate is gonna be much much higher than the Fed's target, which is 2% Fascinating and I guess we'll see if we are yet to see a hundred basis points I see wrong again saying because it wasn't a hundred basis points that we rallied So interesting that people were kind of maybe expecting a higher hike, but we only got 75 So a question from the chat with China and US tensions simmering what impact would it have on the crypto markets? Marcel What are you kind of seeing with potential tension between China Taiwan the US? What other kind of fallouts could potentially happen with with the traditional markets? Well, but I think that those narratives are gonna be Drown or the conclusion of the narrative after the fact so for instance right now. It seems like we're still in a bear market, so Any news tend to have some negative impact on markets because investors sentiment right now is hmm Maybe there's a recession on the way. Hmm. Maybe there's more on the way So why would I do I want to hold risk assets like Bitcoin and Ethereum? So likely if there's a headline of war or conflict escalating between China and US as we've seen with Ukraine and Russia with the primary the initial impact would be negative for crypto assets, but It should be the opposite if you think it through because if Swift if China is banned from the Swift or if there's some kind of tension or Mac or economic dispute between the two countries There's more demand for Bitcoin as a scarce asset as an asset. That's Sensorship resistant from governments itself. So but the initial movement I think it's gonna be negative because we're in a bear market just because of that Get same anything you'd like to add to commentary about the simmering tensions between the two nations Well, we saw what the trade war under Trump did for risk markets in the short term We had a lot of nasty headlines about tariffs and trade wars back in 2017-2018 and the short term effects as Marcel mentioned were were quite negative So again, but those are short term. It's really gonna depend on where these tensions how they're resolved I know the US is already threatened to take China off the Swift system You know, that was I think they reiterated that threat a few months ago, which is I don't know a man You weaponized Swift. How do you expect the dollar to be the neutral global currency when you're weaponizing the finance system like this? But maybe in five years Swift won't matter anymore, right? So It's something to keep in mind. I think this is a geopolitical tension, you know with Taiwan and with the visit So overall you got to see where it's gonna go, but short-term volatility for sure is a staple of these headlines Very good, and we appreciate all the audience's questions say we're gonna be checking that chat So if you have questions for Sam or Marcel, feel free to pop them in there We're gonna go ahead and pivot over here to our next article today Headlined reading three Bitcoin trading behavior is the hint that BTC is rebound to 20 24k is a fake out So on this daily chart Bitcoin is rebounded at least five times since November 2021 Securing 23 to 40% gains on each recovery. I'm gonna Maximize this image here and you kind of see a little bit of the trend patterns here blue line being the 200 EMA The red line being the 50 EMA and then the black line being the hundred-day EMA Are we at a local top right now and could we go down further? Sam, what is your take here? Well, we're talking about tops now. That's that's interesting Yeah, I look I think you you know my my view on where the market is How high can it go on a short-term relief rally? I was expecting a bigger relief rally months and months ago We didn't get it. So the fact that we're getting some moving up the mid-20s isn't really that impressive to me It really means nothing actually because we're used to getting bear market rally to any market We haven't really seen one in Bitcoin. It's been like the meme down only so I would generally agree that it's a fake out I don't see any volume signatures that suggest the bulls are back and forth for that retail is back Right now. We're in this weird macro climate. Everyone is still kind of unsure everyone's trying to feel everything out There's a lot of capital on the sidelines once they get that green light You're gonna see a flood back into all types of risk assets When is that gonna happen? It's gonna depend a lot on the Fed People are expecting a pivot this year Maybe maybe not I tend to think that they have more room to continue hiking But I think it'll all come to a head in the fall That's just my my my take on it right now. So look for the CPI report or the FOMC stuff You got the the Jackson Hole Summit end of end of August and then we can see how September October are gonna roll out These agree with Sam I'm not what do you got myself Two issues that's pressing right now. The first one is regulation We just saw Coinbase the biggest US exchange a former manager being a jail or threatened to go to jail because of insider trading and the regulators clearly said Coinbase listed nine Securities they gave the name of the coins that they consider securities and they're alleging that it's this former manager did some front-running So this involves not only Coinbase But most of the exchanges and most of the venture capitalists and most of the market makers and the participants on the crypto markets Whether we like it or not crypto is not only Bitcoin the exchanges depend on those outcoins the VCs depends on Those ICOs and NFT markets and etc So I think right now regulation is a big risk for crypto markets and for Bitcoin itself Even if we don't talk about altcoins the hash rate top it like two months ago the hash rate top it at 230 X hashes and it's right right now at 200 X hashes It doesn't matter. What's the reason causing that but from an investor perspective if the hash rate, which is the miners Computing power processing power. It started to grind down Changing a shift that has been going up for two years. That's concerning So I think that those two factors are waiting in and want me until we saw a Reversal a change on that. We're not gonna see Bitcoin above $30,000 You heard it folks. It's I want to kind of zoom out for a second Are we in the midst of a long-term? deleveraging of the markets Considering that we are now officially in a recession regardless of whether the White House Can actually present the proper definition of a recession. Are we in the beginning of a long-term deleveraging Sam? You're shaking your head Yeah, I'm shaking my head at the at the recession aspect and how they basically decided, you know If you don't like the way a definition is you can just redefine it and then all of your Pat C's in the media, you know your CNBC's Fox's CNN's all of them are all the same They decide to actually Change the definition for you they'll help you do it on Wikipedia as well They change the definition of what a recession is mind blown mind blown Do they really in terms of deleveraging You know, I think that we are gonna see a strong recovery in markets after the Fed Breaks what it's doing what the markets breaking the market right now It's gonna have to eventually reverse course at some point I think you're gonna see a massive run-up and then you'll see the great deleveraging. I think might come a little bit later Don't underestimate just how much air the Fed can pump into the system Right now it's taking the air out see if it's to save its its legitimacy But eventually you have to put it back in as we head deeper into a recession and as we all get a lot poorer You know the 401ks the Roth IRAs our assets. We're all getting a lot poorer Anybody who's gonna be retiring the next few years gonna be retiring into this so the Fed is gonna have a lot of pressure on its on a to deal with and I think that the The air in the bubble is gonna get a lot bigger before we get a massive deleveraging impact. Just my opinion In I guess more solid this questions for you. We saw a negative GDP obviously the last two quarters What would it take for the US to flip this GDP positive in your opinion and what kind of factors would play into that? I Think as soon as investors gets more confidence that the economy is not blue Going up meaning what Sam's just said that Fed is gonna support the markets or at least Stop hiking interest rates as soon as this moment steps in Then there will be more investments companies will be more eager to to hire people and to build products and consumer Housing prices will go up and the economy will start to pick up again the problem is if inflation goes back up again and Federal reserve is betting that no we're gonna be able to do a soft landing and when the markets recover Inflation is not gonna be picking up That's so that's the main issue But initially as the federal reserve says okay, the maximum rate hikes is gonna be 25 basis points from now on markets will rally but We're gonna have to monitor how the economic data goes especially inflation because if inflation starts to train up again Federal reserves will be with their hands tied and that's when Cryptocurrency and Bitcoin especially will soar, but that's gonna be for 2023 not for 2022 All right I do want to talk about eth today because I know Marcel is gonna dive into a little bit more specifics about this But one of the big headlines that we saw this week Was how people are saying that eth is kind of consolidating after the recent news about the merch coming up in September Is the hype really real or was this a big nothing burger? Dino, let's go ahead and pull up this article written by Braden Lendrea here at coin telegraph Couple of the big excerpts that I wanted to read was that the thesis has been based on macro factors and price Analysis of the crypto currency noting that the Fed still continues to ramp up quantity of tightening program Which drains liquidity while noting that ETH's price had reached technical resistance around 1800 We see ETH kind of coming back down to earth this week right around 1500 What is your take is anything changed in your eyes from the fundamentals? And what does this upcoming merge mean for for Ethereum Sam if you wouldn't mind jumping in Well, I think we've been talking about the merge for a long time and I think there is some meaningful progress being being made It's more than just hype. So I think that Ethereum Can improve the fundamentals are improving I think the hype is gonna be returning to a limited extent even during a bear market. We could still see some strong bear market rallies Overall, I think Marcel has talked about this before but the the new updates aren't really gonna solve some of the long-standing issues around scalability so the Negative press around Ethereum is still gonna be there, but I think the merge is still gonna be a very significant milestone We've been talking about it for a long time now and as such it'll probably be big enough to serve as a catalyst for price in The short term so it'll be an exciting few months for ETH holders. I think Despite the fact that we're in a broader macro downtrend You could still see some momentum or at least a consolidation in the next few months Marcel you want to add anything then there for Ethereum? I Think there's two factors in play here The first one is the miners Ethereum miners how strong they are like bitman just launched a azic miner for Ethereum So, yes, they're gonna support it to fork based on mining Proof of work, so I don't think that Vitalik and their friends want to fight them right now So it's easier just to postpone the march But having said that what the Ethereum fans are rooting for it's not the end of the mining itself They don't care about the energy use what they care about is inflation because right now Ethereum doesn't have a hard cap hard limits It implemented some of burn mechanism, but it's still an inflationary coin So what Ethereum supporters are rooting for is the end of mining will not require any more ETH printing to finance The miners the validators so only the staking Will be in place so lesser inflation they think that what that's what's gonna drive it Ethereum up, but I'm not personally fan of that the definition I think that what investors wants want is Presubility they want to know what's gonna be the inflation in the next trap three five twenty years and it here keeps changing the rules Every year, so that's not what investors want, but the core depths and the Ethereum fans do believe that a lesser inflation will be Equivalence to higher demand and higher prices, but that's not true And we have a question in chat here from um, crypto would merge lead to the lower ETH fees I think we've touched on this before but Marcel if you wouldn't mind providing us your insights here No, Ethereum merge doesn't Change the the fee processing or the demand for the block space What's gonna change the fee structure is the sharding process So the parallel processing the 64 channels that we validating transactions and smart contracts Parallel, but right now the merge is only by it's only gonna take the proof of mining the miners away from the from the validating set and implement The proof of stake so no more mining but nothing on transaction fees Very good, and the last thing I want to touch on today is what we started with Vitalik slamming Michael Saylor to know if you were to mind pulling up the old Twitter Let's take a look at this tweet from Vitalik. I'm gonna zoom in here so you all can see this Vitalik says why do maximalists keep picking heroes that turn out to be total clowns And I guess this was in reply to Daniel robust again against quantum attacks Goldman Guys is this is this just typical crypto drama right now, or is this Something real considering the metallics kind of calling out Michael Saylor here Sam. I'll let you jump in here first Well, I'm surprised that Vitalik actually clapped back so aggressively usually he's not that aggressive in his response I mean Michael Saylor and a lot of the Bitcoin maximalists have been calling ETH an outright scam You know from the very beginning Taylor may have may not have called it a scam just security But a lot of the people have called it a scam. So it's It's interesting that he actually responded but it's crypto being crypto. I mean, it's the most toxic community You're ever gonna see on the internet especially the past couple of years. I think he's getting a lot worse It's become like really hateful out there, especially during at the bear market people are pissed people are really not happy and on Twitter, that's where the That's where all the shit hits the fans. So I'm not surprised in the back and forth I'm kind of surprised that Vitalik actually responded by calling him a clown. That's that's kind of funny. I Mean and you saw a sailor do the interviews recent weeks calling Ethereum and outright security So maybe this is in response to Sailor's public appearances recently, but Marcel let you kind of chime in here as well Yeah, I think Sailor is clapping for the regular Regulation so in Sailor's head somehow if regulators block Those scammy out coins not saying it here is one of them but if the regulator steps in that's gonna be good for the industry, but You can either choose decentralized or Centralized once you clap for the regulations and said well, we need you you need you we need you to regulate to say What is the security? What is not? You're basically saying that? Investors and the users by themselves are not able to decide. So I don't I think Sailor maybe he's doing that because first he's deep dived in Bitcoin his company has a huge balance sheet exposure to Bitcoin and Second because he saw some venture capitalists and funds getting a lot of money from retail investors by joining those ICOs and doing illegal stuff. So he's kind of resentful, but bear marketings Exactly right no one else has anything better to to bicker about so it seems like they're taking their frustration to the Twitter sphere The rumble Royale for all crypto Twitter All right, folks. We are gonna continue this show here Don't forget drop your Twitter handle in the chat $50 to the coin telegraph store for all the swag From your imagination and dreams. We have it in there Next thing's next is we have the crypto tips this week. So let's go ahead and jump in Alright, keep your crypto wealth on a cold wallet There are two types of crypto wallets hot wallets and cold wallets along with each wallet comes its private key a Cryptographic password that provides users with access to their funds hot wallets are digital always online connected to the blockchain While these allow for quick and easy transactions They're always online nature leaves hot wallets relatively prone to hacking as a general rule of thumb It's risky to use a hot wallet to hold any amount of money that you're not comfortable losing Cold wallets specifically hardware wallets are physical devices that store your crypto offline It can only be connected to the blockchain using your private key For no more than $150 hardware wallets that look similar to USB drives such as the ledger and treasure Can store multiple crypto currencies and significantly reduce your risk of getting hacked Here is also a few additional wallet safety tips for you So always have your two-factor authentication on wallets and exchanges that allow it never give out your private key Don't keep your crypto on an exchange unless you plan to actively trade it The only thing standing between you and a Hector is your basic hot password All right folks that is your crypto tips for this week and I want to go ahead and give a quick shout I see people dropping their Twitter handles in there rich new design good to have you back in the show Really happy to have all of our loyal audience members today. Thank you again for tuning in love having you here Next things next though is we got Marcel gonna give you the goods about Bitcoin and Ethereum this week He's gonna get into some of those technical professional trading statistics that you're gonna want to hear So I'm gonna let Marcel take away next Okay, guys, so Correlation that's what's limiting bitcoins recovery right now and it seems We might think that crypto currencies trade solely based on investors expectation for adoption inflation protection and censorship resistance features, but the truth is the broader market Participants they do not care for any of that. So in short Bitcoin is perceived and trade as a risk on asset Sure on longer time frames It might work as a hedge of central banks exorbitant expansion in measures So they bring money like hell and every risk on assets in the world oil Bitcoin housing stock market goes up But that's not what moves the Bitcoin price on a day-to-day basis Holders have zero influence on the crypto prices being traded on exchanges at least on a short-term basis Moreover that during extended bear market periods the odds are those bulls are already are all in They're overly committed. So the lesser odds of having spare cash available for buying So Danilo, I want to share my screen, please So here we have the Bitcoin chart the blue area stacked against the S&P 500 stock market index in the orange era and Notice how both assets are in sync. They they they have the same trend upwards and downwards movements So the the indicator the courage correlation indicator Current stance near 70 which is significant Especially considered has been high for the past four months So the movements up and down of the S&P are being replicated on Bitcoin right now Which translates to a high correlation? Thank you, Danilo And that's a major red flag at least for now Considering the recession risk imposed by the surging inflation and the Federal Reserve's initial movements to revert those measures and Sell some of its assets the debt assets over the next 12 months to curb inflation. I'll explain it how it occurs So the federal Federal Reserve balance sheet is composed composed mostly of Mortgage-backed securities U.S. Treasuries and corporate debt using ETF instruments. That's what compromises the Federal Reserve balance sheets and currently they hold near nine trillion dollars worth of those junk assets and they promised to reduce it by one trillion in one year So that's what they said So once those stimulus measures were cut back in June and July Initial signs of crack in the economy started to emerge So the GDP which is the broader growth index of the economy presented that Minus 0.9 percent second quarter performances. So a contraction in the economy So from one side it is positive. Yes, the market needs to cool off. It's known as soft landing the Federal Reserve Reduces the stimulus measures to wind down inflation, but on the other hand it Increases the costs of companies By increasing the the Federal Reserve interest rates. That's gonna kill some jobs That's gonna kill some excessive leverage companies For instance, even at 20 percent housing price could trigger a major recession So investors are worried about that right now So that that's what's living in crypto markets right now. Forget about lightning network Capacity or a team merge. It doesn't matter right now Investors should be focused on what the Federal Reserve is doing and how the economy is reacting So focus on a big picture and stop paying attention for these little details because they don't really matter right now Excellent information from our cell today. We appreciate your in-depth analysis here What's actually going a quick underscore? I want to add to that if you have not watched how the economic machine works by Ray Dalio Go watch it. It's gonna talk about a lot of the points that I think Marcel Brought up and it's super easy to understand about all of these components about central banks Governments how they all interact break it down by the way great watch All right folks the next segment we have today is the markets pro segment You should have been watching these two coins and this week We're gonna highlight the two that absolutely went in fuego based on our vortex score and our newsquakes So let's go ahead and jump into our two tokens that you should have been watching for our markets pro Don't you wish you had some of those newsquakes fire off well this week That's exactly what happened Newsquakes are those automated alerts that instantly notify users when market moving events happen this week rose trading Under the ticker R. O. S. E. Saw significant price movement this week after a news of a partnership with meta a Newsquake told markets pro subscribers about the development when the price was at five cents And it soon climbed to the peak of eight cents That is a 60% increase and you see there on the chart huge gains and that's the power of the newsquakes The next token that we're watching this week was rad trading under the ticker R. A. D. And the vortex score which is a comparison between its current market and social conditions of those in the past Lit up with a 50 this week, which is typically a neutral indicator But earlier this week rad saw several green vortex scores flash to alert markets pro subscribers of bullish historical conditions At the time the scores lit up rad was trading at one dollar and 84 cents a few days later That price skyrocketed to four dollars and 61 cents a remarkable increase of 150 percent Folks that is why you got to use markets pro is the power of the vortex or in the power of the newsquake score And that's why we have this news for you guys this week is to be able to use those tools as powerful in your trades So folks I want to thank everyone for tuning in today And if you have questions or concerns here for our final closing thoughts today Go ahead and pop them in chat and we give you an opportunity to ask Marcel or Sam any of your burning questions here But we are gonna be giving away that $50 to the Cointelegraph store. So make sure you drop your Twitter handle in the chat All right guys, I want to get those closing thoughts today Sam won't we start with you here while we wind things down What kind of closing thoughts do you have for today's show? I? Suppose we should all be thinking about enjoying the rest of our summer, you know here in the northern hemisphere. No, it's gonna be I think a bit on the on the law the next month or so and September-October is usually where all the fireworks happen. So Ensure that you're well allocated if you believe in Bitcoin and in crypto Be allocated in the market at this time. I know it's hard to promote that now is a good time to be in the market when Conditions are so bad, but this is really where you get your position Obviously not financial advice It's just if you thinking about investing in Bitcoin and crypto the best time to do it is during macro bottoms or what some would call Generational bottoms, although I think it's too early to call any kind of generational bottom given just how volatile crypto really is So now's the time to kind of you know get allocated and look for the future I think in 18 months from now The market dynamic will look vastly different, especially as we head into the next having so Patience is a virtue as it always is especially in investing Great advice that was not financial Marcel When you're close at thoughts this week, I Agree with Sam, but I want to highlight for instance Bitcoin is trading right now near $21,000. So let's imagine someone says, okay So I'm gonna wait. Maybe there's a dip back to $18,000 or $70,000 and it goes to $19,000 for instance, but by the end of the year it rallies to 26 or 27 How do you think that person? Especially if that's you are gonna feel about it. You're gonna say, hmm I missed the boat. So I'm not gonna pay 26 or 27 right now maybe there's another break or another button over the next Months and what's gonna happen is that Bitcoin is gonna fly to $30,000 and you're gonna miss the boat So it doesn't really matter if you're paying 19 20 21 when the price shoots up to 30 And it's a matter of when sure it might not be in six months It might be not being one year But it's gonna happen because the US dollars in circulation will never stop being printed So it's a matter of time. It can take three four years. Yes We don't know about it. But once it hits $30,000 and you didn't buy at 20 21 or 22 We're gonna miss the you're gonna you're gonna have missed the opportunity and you're not going back into Bitcoin So at least by 30% of your position if you rather stick with Ethereum right now do it But at least do a 30% of position. Don't stay out of the markets Guys, thank you all for sharing your thoughts for today In all great points and I'm gonna echo what Sam and Marcel are saying if you don't have The price of a full Bitcoin right now dollar cost averaging is your best friend So you catch those swings up and down at all averages out over time That is my opinion. That's my take on things I want to go ahead and give out our $50 gift card to the coin telegraph store today We appreciate everyone for tuning in chime in with your questions Love having you here and chatting it up with everyone in the chat But today I want to shout out Wade Finley and you are gonna be our coin telegraph store $50 gift card winner for today. So that is at Wade underscore Finley We will be shooting you a DM on Twitter to give you that gift card So congrats Wade Finley and hopefully if you don't win today, maybe next week So make sure you are here next Tuesday at 12 p.m. Eastern We appreciate everyone from tuning in from around the globe and we look forward to seeing you next Tuesday here on the marker report We'll see