 Bitcoin is seeing low volatility at the moment and this is generally speaking a good thing for crypto. The more the volatility the less it's being it's able to be used as a store of value. So to see these type of flat movements is at the end of the day a good thing. Is it fair value by nature? Yes. I mean there was a report from Bitwise over the weekend which showed really the nature of bitcoin volumes and generally speaking the end result of the report was that by nature bitcoin has a very good way of finding true value that's based on market pricing. So if the market is at a specific level and specifically when it's trading at a specific level for an expended period of time then we can say that yes it is at true value. Last week the Fed came out in strong support of the financial markets but they've been in strong support of the financial markets for about 10 years. We've seen a very large correlation when the Fed is supportive of the markets. The stocks tend to go up over the course of 2017 we saw that correlating very strongly with Bitcoin and then 2018 when they were less supportive of the markets the stocks fell and so did Bitcoin. So the fact that they're supporting right now is overall a good sign. It means that there's more liquidity there's more available money for investments that can go into the crypto market. The question is how far do they take it because already today we can see the market starting to decline a little bit. There is a danger here of the Fed overstimulating the markets and in that case there is a possibility that you know the stocks can come down if investors start to not believe in that narrative anymore and at that point we would need to see how the cryptos react so the jury is still out. Backed extremely large valuation is in my mind a vote of confidence for the crypto market from the incumbent Wall Street financial institutions. Backed is kind of the Wall Street solution for storing and spending cryptos they want to make it a lot easier for people to you know pay with crypto at the supermarket and to hold crypto in a custodial service because they have this this high valuation is basically an indication that Wall Street is wants to see crypto succeed and they want to be a part of that. More or less their services include you know having a futures market and possibly a debit card where you can spend crypto we're not quite sure yet and we've seen significant delays they were supposed to be live in mid-December they then changed that to mid-January and at the moment they don't have a live release date so what we can see is that most likely due to regulatory hurdles they're having a little bit of issue coming online but confidence is high that they will be able to overcome those issues the CFTC says that this is already one of the most prominent things that they're working on at the moment so hopefully we get some good news pretty soon. As soon as the CFTC and the SEC sign off I'm pretty sure that backed would be ready within a week or two. We can definitely look at the rankings and maybe learn a little bit from it overall though I would say this is not the definitive source of information that we should go to for crypto is kind of like taking fashion advice from Ali G. China the Chinese authorities ostensibly have banned crypto trading in the country so it's a bit strange that they are the ones who are trying to put out now reports on which cryptos are better than other cryptos the fact that bitcoin is at number 14 is also very telling where most crypto participants these days would say that bitcoin is the dominant player they're putting it way down on the list. This episode is sponsored by trade santa trade santa is a cloud-based trading bot set it up in less than two minutes trade multiple pairs choose between long and short strategies use tech analysis indicators and see your results in real time trade santa works 24 seven to get you the profit you set. The platform is already integrated with Binance, BitTracks, Bitfinex and HitBTC the link is in the description below.