DON'T Buy Crypto Now! [WATCH THIS FIRST]

Summary

The video discusses the Bank of Japan's decision not to raise interest rates further, which has led to a surge in cryptocurrency markets, with Bitcoin reaching over $57,000. The host explores whether this is a sign of a bullish market or a bear trap, highlighting the differing opinions within the community. They also delve into the potential of altcoins, particularly Soul (SOL), which has broken its all-time high against Ethereum and may indicate an upcoming altcoin season. The video also touches on the importance of capital preservation during market corrections and the use of platforms like Bitfunded for risk management.

Takeaways

• 🏦 The Bank of Japan decided not to increase interest rates if it causes market volatility, which was seen as a form of capitulation by the market.
• 📈 The market reacted positively to the Bank of Japan's decision, with altcoins and Bitcoin's price surging, indicating a temporary relief rally.
• 🤔 There are mixed opinions on whether the dip has bottomed out or if there will be further declines, with some speculating on another 'leg down' in the market.
• 📊 A chart showing Bitcoin's price relative to the VIX (Volatility Index) suggests that Bitcoin might be trending upwards, hinting at a potential bullish sentiment.
• 💡 The speaker suggests that the current market situation could be akin to taking a painkiller, providing temporary relief without addressing the underlying issues.
• 📉 The speaker warns that if the bears are correct, Bitcoin could potentially drop to levels associated with key support areas, such as the average buy price of ETFs or the cost basis of mining companies.
• 📈 Despite the overall market optimism, the speaker emphasizes the importance of being prepared for potential corrections and understanding them as opportunities for assets to move to 'correct hands'.
• 🧐 The speaker highlights the role of ETF holders as 'diamond hands' during the recent market downturn, as they did not sell but instead bought more Bitcoin and Ethereum.
• 🤷‍♂️ There is skepticism about the use of Wormhole for bridging assets between networks, with the speaker recommending dBridge as a superior alternative.
• 🚀 The speaker expresses strong bullish sentiment on Soul (SOUL), suggesting it as a key token to hold in the current market cycle and highlighting its technical analysis patterns.
• 🔄 Mention of significant volume in perpetuals and the flow of funds from Ethereum to Solana, indicating active trading and shifting interests among investors.

Q & A

What was the main outcome of the Bank of Japan's meeting as discussed in the script?

The Bank of Japan agreed not to increase interest rates further if it causes market volatility, which led to a positive market reaction and a boost in cryptocurrency values.

How did the market react to the Bank of Japan's announcement?

The market reacted positively, with altcoins turning green and Bitcoin's price rising above 57,000, indicating a sense of relief and optimism among investors.

What are the two contrasting views on the market situation after the Bank of Japan's announcement?

One view is that the dip was a buying opportunity, and the other is that there might be another significant downturn, with some not trusting the Bank of Japan's action as a long-term solution.

What is the significance of the VIX spike mentioned in the script?

The VIX spike indicates high market volatility. It triggers automatic trades on algorithmic and robotic trading platforms, which can significantly influence market behavior.

What does the script suggest about the relationship between Bitcoin and the VIX index?

The script suggests that the ratio of Bitcoin's price to the VIX index is in trend, implying that Bitcoin's value may increase as fear in the stock market rises.

What is the 'pinky swear' analogy used to describe the Bank of Japan's commitment?

The 'pinky swear' is an analogy used to describe the Bank of Japan's informal promise not to raise interest rates if it would destabilize the markets, similar to a personal promise made between friends.

What is the potential concern with the Bank of Japan's decision, as expressed in the script?

The concern is that the decision might be a temporary solution, akin to taking a painkiller without addressing the underlying problem, which could lead to future market instability.

What are the key price levels for Bitcoin mentioned in the script, and what do they represent?

The key price levels mentioned are 65,000 (average buy price of ETFs), 55,000 (average of all Binance traders), 45,000 (average cost base for mining companies), and 22,000 (cost base for old OG Bitcoiners). These levels represent critical support points where different market participants may take action.

What is the role of a correction in the market according to the script?

A correction is seen as an opportunity for the market to reallocate assets from the wrong hands to the correct hands, essentially moving investments to those who are more likely to hold onto them during market fluctuations.

What is the significance of Soul (SOL) in the current market context as discussed in the script?

SOL is highlighted as a key indicator for the altcoin market, with its price action and technical analysis suggesting that it could be leading the altcoin season, rather than Ethereum (ETH).

Outlines

00:00

📉 Bank of Japan's Decision Impacts Crypto Markets

The script discusses the Bank of Japan's decision not to increase interest rates further if it leads to market volatility, which has been received positively by the markets, resulting in a rally for cryptocurrencies. Bitcoin's price surges to over $57,000, and altcoins also see green. There's a debate between two camps: one claiming that buying the dip was the best move, and the other skeptical of the bank's action, fearing a larger downturn. The video aims to analyze the bank's impact and determine if the market's optimism is justified or just a temporary relief akin to taking a painkiller without addressing the underlying issue.

05:04

📈 Market Reaction to Bank of Japan's 'Pinky Promise'

This paragraph delves into the specifics of the Bank of Japan's emergency meeting and their commitment to maintaining the current degree of easing, effectively swearing not to raise interest rates if it would destabilize markets. This assurance led to a significant market upswing, with the Japanese stock market futures rising by 6% and Bitcoin's value increasing to over $57,200. The narrative explores whether this is a sign of a full bull market return or a temporary reprieve. It also mentions a tweet suggesting an 'old season' in the market, hinting at potential altcoin runs, and the importance of understanding market movements for strategic investment.

10:05

🤔 Analyzing the Market's Optimism and Key Bitcoin Price Levels

The speaker contemplates the market's natural optimism and its tendency to expect upward movement, which is a fundamental aspect of human nature and market behavior. Corrections are framed as opportunities for assets to move from the wrong to the right hands. The paragraph highlights key Bitcoin price levels that indicate the market's health, such as the ETF buy price at $65,000, the Binance traders' average at $55,000, and the mining companies' cost base around $45,000. The importance of these levels is emphasized in the context of potential bear market scenarios.

15:06

💡 The Role of Corrections in Market Dynamics

This section examines the concept of market corrections, describing them as necessary mechanisms for assets to be redistributed from weak to strong hands. It emphasizes that corrections are not inherently negative but are part of the market's natural cycle to ensure that investments are in the right places. The speaker shares insights on how ETF holders demonstrated 'diamond hands' during the recent downturn, not selling but instead buying more Bitcoin and Ethereum, suggesting a strategic accumulation during market dips.

20:07

🚀 Soul (SOUL) as the New Altcoin Season Proxy

The script shifts focus to the altcoin market, highlighting Soul (SOUL) as a significant indicator for the altcoin season. It discusses SOUL's price discovery relative to Ethereum (ETH), its breakout above the SOUL/ETH all-time high, and the bullish technical analysis signals like the 'cup and handle' pattern. The paragraph suggests that SOUL could be the leading token in the current market cycle, with potential for significant growth and a key indicator for altcoin territory.

25:09

🌉 The Importance of Choosing the Right Bridge in DeFi

The final paragraph touches on the topic of bridging assets between different networks in the context of DeFi. It points out the recent trend of assets being bridged from Ethereum to Solana via Wormhole but questions its efficiency compared to other options like dBridge. The speaker advocates for dBridge as a superior choice for speed and cost, emphasizing its partnership with Crypto.com. The paragraph concludes with an interactive call-to-action for viewers to share their Soul addresses, hinting at a potential giveaway or community engagement.

Keywords

💡Interest Rates

Interest rates are the cost of borrowing money or the return on investment for lenders. In the video, the Bank of Japan's decision not to increase interest rates further to avoid market volatility is a key event that impacts market sentiment and investor behavior. The script mentions how this decision has led to a positive reaction in the market, with altcoins and Bitcoin prices rallying.

💡Market Volatility

Market volatility refers to the rapid and significant fluctuations in the value of financial assets, such as stocks, currencies, or cryptocurrencies. The script discusses how the Bank of Japan's stance on interest rates is in response to market volatility, aiming to stabilize the financial markets and investor confidence.

💡Altcoins

Altcoins are alternative cryptocurrencies to Bitcoin. They represent a diverse range of digital currencies beyond the most well-known one. The video script mentions altcoins turning 'green,' indicating that they are experiencing gains or positive price movements in the market following the Bank of Japan's announcement.

💡Bitcoin

Bitcoin is the first and most widely recognized cryptocurrency. In the script, Bitcoin's price is highlighted as a significant indicator of market sentiment, with its value rising to over 57,000, which is used to gauge the overall health and direction of the cryptocurrency market.

💡Market Capitulation

Market capitulation occurs when investors, after a period of decline, give up and sell their holdings, often at a loss, due to despair or fear of further declines. The script refers to a potential capitulation by the Bank of Japan, suggesting that their decision could be seen as a surrender to market pressures, which paradoxically leads to a positive market reaction.

💡Painkiller

In the context of the video, a 'painkiller' metaphorically refers to a temporary solution that alleviates symptoms but does not address the underlying problem. The script uses this term to describe the Bank of Japan's decision, suggesting that it may provide short-term relief but not a long-term cure for market instability.

💡Alt Season

Alt season is a term used by cryptocurrency enthusiasts to describe a period when altcoins outperform Bitcoin in terms of price gains. The script suggests that there may be an upcoming alt season, indicating a potential shift in market dynamics where altcoins could experience significant growth.

💡ETFs (Exchange-Traded Funds)

ETFs are investment funds that are traded on stock exchanges, similar to individual stocks. In the context of the script, ETFs are mentioned as having an average buy price for Bitcoin and as entities that continued to buy during the market dip, suggesting their long-term bullish stance on cryptocurrencies.

💡Mining Companies

Mining companies are businesses involved in the process of cryptocurrency mining, where they use computational power to validate transactions and add them to the blockchain. The script discusses the impact of Bitcoin's price on these companies, noting that a drop below $45,000 could lead to operational losses for miners.

💡Risk-On

Risk-on is a term used to describe a market environment where investors are willing to take on more risk, often investing in higher-yielding assets. The script mentions 'risk-on' to describe the market sentiment following the Bank of Japan's announcement, indicating a shift towards more aggressive investment strategies.

💡Bear Trap

A bear trap is a false signal indicating that a market is going to decline further, which can lure investors into selling their assets, only for the market to then rise. The script warns of a potential bear trap, suggesting that the current market recovery may be deceptive and followed by a more significant downturn.

Highlights

Bank of Japan decides not to increase interest rates to avoid market volatility, causing a positive market reaction.

Market participants are divided into two camps: one claiming the dip was a good buying opportunity, the other fearing a further market downturn.

Bitcoin surpasses $57,000, with altcoins showing green, indicating a market celebration of the Bank of Japan's announcement.

Discussion on whether the market has truly recovered or if the current situation is merely a temporary relief akin to taking a painkiller without solving the underlying issue.

Tweet suggesting an 'old season' in the market, despite recent significant token downturns on a weekly scale.

Analysis of a chart indicating a potential altcoin run cycle in the market.

Mention of a community initiative related to Formula 1, hinting at a significant upcoming announcement.

Bank of Japan's Deputy Governor's pledge to refrain from destabilizing markets by not raising interest rates further.

Markets showing signs of calm with Japanese stock futures up 6% and NASDAQ futures up 1.34%.

Bitcoin's price recovery compared to other tokens, suggesting potential for rapid Bitcoin price increase if the bullish trend continues.

Concerns about whether the Bank of Japan's actions are a long-term solution or a temporary measure, likening it to taking a painkiller.

Analysis of key Bitcoin price levels to watch if the bearish scenario unfolds, including the impact on mining companies and long-term holders.

Discussion on the natural optimism of humans and its influence on market trends, suggesting that corrections are opportunities for assets to move to the right hands.

Highlight of Soul (SOUL) token's performance, breaking its all-time high against Ethereum and showing strong bullish signals.

Jupiter and Drift Protocol's significant perpetuals volume, indicating strong activity in the meme coin and altcoin markets.

Recommendation to use dBridge over Wormhole for cross-network transactions due to its efficiency and cost-effectiveness.

Transcripts

the bank of Japan had their meeting and

effectively what they agreed to do was

to not increase interest rates any

further if it causes Market volatility

and so what the market said is well

that's amazing and it's almost like the

bank of Japan capitulated and now the

markets are loving that announcement so

we got the altcoins absolutely green we

have Bitcoin over 57,000 in fact at

57,000 200 um and markets effectively

celebate now there's two sides to the

campia one Camp says that if you bought

the dip yesterday you were the best

buyer in the world and the other Camp

says that if you bought the dip

yesterday there's going to be another

big leg down and they don't trust the

bank of Japan action so what we're going

to do today is we're going to look at at

what happened with the bank of Japan and

decide whether this uh this whole thing

is over or whether we've just taken a

painkiller but not actually solved the

problem then I mean I read a tweet this

morning and at first I thought like this

is the craziest tweet I've ever seen in

my life life uh this is the tweet I want

you to have a look at it so this is the

Tweet over here and it says uh it's all

season is here I'm like how can you say

that old season is here I mean

especially when okay the bubbles look

like this today but if you look at them

on the weekly I mean you got the biggest

tokens down in last week 30% 35% but

actually there is one chart that

convinced me that we may actually be

heading to the part of the Cycles where

altcoins run and I want to show you the

chart and show you which altcoins may

actually be running um yeah so that's

what we're going to be doing today um

again we've got a massive show here

today I'm wearing another white shirt

which was Washed by the Magnificent uh

laundry Powter um let's get the show on

the road guys

I see under under AA says I love your

white sweater best washing powder ever

guys we should have a referral link for

washing powder uh we should do like a

referral link for for this laundry

detergent for the laundry detergent we

we should have a a thing anyway guys uh

big day today we're going to talk about

a lot we got a lot to talk about the

first thing we need to discuss today is

is this whole Carnage over and are we

back in full bull season cuz if yes you

want to be buying the dip but if no then

if you did buy the dip there may be

another leg down and we may actually

keep dipping so that's what we're going

to be talking about today also I'm going

to show you one altcoin that you

shouldn't give up on one altcoin that

you should give up on one altcoin ecos

system that nobody's looking at that you

should be looking at um and one chart

that tells me that it may even be

allseason so listen yesterday you guys

did a [ __ ] fantastic job you took the

likes to over 2,000 likes while we were

live on the show as a result of that the

yesterday show got over 75,000 views we

know this because we actually keep all

the data in the spread right we keep all

the likes we even keep how many people

are in the waiting room before the show

starts and we'll never start unless it's

a th people in the waiting room um and

we know that every time that you guys

smash the like button and every every

time you guys smash the like button it

helps us get the show out there so do me

a favor let's start now smash the like

button let's get let's get a lot of

people to watch the show and to join the

Bantam I I have something that I want to

share with you guys but I'm not allowed

to share it yet but it's probably the

biggest thing that B has ever done and

when we do do this it'll be because of

the community and it is the biggest

thing that we've ever done I'm so

excited to talk about it but I'm not

allowed to because I've signed ndas and

until I signed the ndas all I can say it

has something to do with Formula 1 and

that that's all I'm saying I should I

shouldn't have even said that I

shouldn't have said that for God's sake

why did I say that anyway I know you've

all subscribed I know you're all

smashing the like button let's talk

about what happened today on the markets

a lot of people are calling it a

capitulation from the Japanese Bank uh

because the bank of Japan's Deputy

Governor pledged pledged pledged pledged

to refrain from further Ray tax if

they're going to uh uh destabilize

markets which is what he said so

effectively what they said is we're not

going to raise interest rates any

further and that gave people a lot of

confidence because if interest rates

aren't going to be raised any further

then there is a chance that this whole

um this whole problem is has now gone

away I tweeted a few days ago and I said

you know all the fed or the treasury

need to do is indicate that they are

going to intervene and this whole

scenario is finished and in this case

the fed and the and the the fed and the

treasury but of Japan basically said

look we're not going to make matters

worse we're not going to increase rates

any further and so the markets are

pretty much now at a sense of calm and

as you can see the Japanese stock market

or the Futures up 6% on the day uh which

is amazing that obviously spread to the

NASDAQ the NASDAQ up 1.34% these are the

NASDAQ futures the NASDAQ is opening in

5 4 3 3 2 1 okay the nasdaq's Now open

up 1.32% on the Futures uh Bitcoin over

57,200 and the old coins another sea of

green now I think we just need to

quickly quickly quickly understand that

the Nick has gone up quite a bit I mean

the Nick the Nicki has already recovered

66% of its crash but Bitcoin hasn't

recovered so there could be if the Bulls

are right here we could get the Bitcoin

price actually recovering very very very

very fast let's quick can just

understand what happened this morning at

the because in order to understand

whether it's bull or bare season we have

to understand what actually happened

okay so what actually happened the

remember yesterday when when we did the

show I said that the the bank of Japan

was in a in a in a emergency meeting

they had the emergency meeting they came

out of the emergency meeting they said

look we won't raise rates when markets

is unstable so is the the they won't

raise rates when markets is unstable not

are unstable must maintain current

degree of easing for time being Market

moves are extremely volatile so

basically they said look for as long as

the market remains volatile they have no

intention of crashing markets and so

they basically promised they did like a

pinky promise you know like when you

were kids and you like pinky swear you

won't raise interest rates anymore and

then like everyone say pinky swear I'm

not going to raise interest rates

anymore and then like we both pinky

swear that so there's not going to be an

interest rate ra right so now what the

bank of Japan has done is they they've

done a pinky swear that they're not

going to raise interest rates anymore if

if they believe that it's going to

affect markets and so with that in mind

okay the markets are basically said okay

if you're willing to pinky swear did you

guys in your country do you do do you do

pinky swear in Romania like when you

pinky swear you do okay let me know in

the chat if you do pinky swear okay if

you do like uh like if if you do pinky

some one says am I racist I think we

should block this David newow from the

thing cuz he's white just we should

block him we don't like unless you as

white as the [ __ ] um okay um we don't we

don't do work on the show bro you should

know we don't do work on the show you

want work you should go to crypto Wendy

by the way did you see crypto Wendy you

want to talk about like work if you want

I think if you are work you should go to

crypto Wendy because K Harris says she's

building a movement for support the it's

called crypto for Harris crypto is

building a movement of support for

carela Harris a group of Industry

leaders policy experts and everyday

crypto enthusiasts organizing to back

Harris while pushing for a Nuance policy

stance and now she's saying look

apparently they they building a movement

for crypto support I'm your target

audience and so are my audience it's

woman for women this is not about wom

for women this is about [ __ ] the

future of crypto you don't just because

I'm a woman you're a woman okay we must

now like hang out you got to look about

at the future of the industry anyway

if you work she's very good you should

go you should go to her her her streams

rant over so uh Japanese people agreed

to do a pinky swear not to raise

interest rates anymore and the market

liked it the Yen fell against the dollar

look at this beautiful sharp fall

against the dollar so the Yen now fell

against the dollar uh you've got the

Japanese market up 6% which is that's

quite a that's quite a respectable 6% um

and people are basically saying what

they did was the bank of Japan actually

surrendered some people are saying the

Bulls are saying okay that's it it's

risk on right now and this is kapor is

part of our research team he's infront

Runners um a hard worker smart guy he

said he says basically now it's risk on

the markets are basically saying look

the bank of Japan has has has has put a

risk on uh back on the market Danto says

likely that yesterday was the low for

everything why third largest spike in

the vix over the last 35 years

unwarranted remember when the vix goes

up the vix is a volatility index a lot

of the uh algo trading platforms the

robotic trading platforms on Wall Street

basically trigger automatic trades

because that's just how they are so the

vix is uh why are people laughing in the

chat why why are people

laughing okay sorry let's go on so to uh

to extreme um says given um much better

macro fundamentals backdrop today than

08 the market could see a retest blah

blah blah he says worst over Arthur he

says worst over he says just so I'm

clear bu the [ __ ] dip cuz the bank of

Japan caved I will follow up Spirited

Away next week with a essay he's going

to write an essay again um uh uh lots of

people are are starting to buy again an

OG who accumulated 10,000 Bitcoin sold

all his coins at 68,000 started buying

back yesterday at 50,000 a soul investor

and S an early Soul investor that bought

so mostly at $1 started buying back

yesterday at $115 a lot of people are

saying the worst is over uh this chart

of here very interesting chart

incredibly interesting

chart it is the chart of the Bitcoin

over the vix and it touched this line

and this effectively means that it's in

Trend the Bitcoin divided by the vix is

in Trend Bitcoin divided by fear in the

stock market is in Trend and it feels

like Bitcoin is actually going to go up

up again based on this chart um and

Richard Tang who's the new CEO of

binance at least while CZ is in in in in

jail which comes out by the way in

September um uh he says they had their a

record day yesterday $1.2 billion worth

of inflows in the last 24 hours that's

good that's amazing also saw the highest

trading volumes year to date so a lot of

people are saying that this is just uh

that this whole scenario is over but

then you have another camp and the other

Camp is the part that worries me and

that's why I made this this thumbnail

over here because what it feels like the

bank of Japan has done

is okay it's like this imagine it like

this imagine we go to a party and you've

got a headache okay so we go to a party

you got a headache and so what you do is

you drink and drink and drink and your

headache gets even worse so what you do

is you take a painkiller and then you

carry on drinking right you're not

solving the cause of the headache you're

just taking a painkiller what the bank

of Japan do doesn't solve the problem

all it does is it says okay they they

done like a pinky s and they like they

take a painkiller don't worry like and

but the cash and carry trade is still

there and has not been Unwound and if

ever they break their pinky promise or

if ever there's a reason for them to to

increase rates again or if ever the

market worries again this thing just

comes back and that's why some people

think that this is just a bear trap Lady

of crypto says this is the biggest be

trap that she's ever seen uh she's not

the only one now the reality is I want

to just quickly look at the scenario if

the Bears are right here let's just for

one second let's just assume that the

Bears are right where does Bitcoin go

where what's the next price level for

Bitcoin so even if the Bears are right

where does Bitcoin actually go and to do

that someone says pinky s in Japanese

yiri Gman let's just quickly see if

that's true because let's say you be UB

Kiri genman

that's a song

bro that's a song that's I mean okay

wait

translation maybe he's

right you be cutie Ginman translation

passing you by on the street far away

bro what what are you talking about we

talking about pinkies where you're

talking about a song anyway long story

short if the Bears are right now I mean

we going to make an assumption cuz we're

got to look at both sides one side says

the worst is over the other side says

biggest be trap that they've ever seen

generally Bitcoin will honor a whole lot

of different price levels and I want to

look at those price levels to show you

how bad it could get okay if the Bears

are actually right because I think

that's important in doing a risk return

calculation so if the Bears are right we

could go to either of these levels okay

there are multiple price levels in

bitcoin's life cycle that we got to look

at the first thing is the ETFs the

average Buy Buy price of the ETF is at

65,000 we've broken that buy price and

in the break of that buy price the ETFs

Prov to us that they weren't selling

they were buying the next level is the

55,000 level if you take the total

average of of all binance Traders on

binance the total average is

55,000 at

55,000 that level is we're pretty we're

pretty close to 55,000 level that 55,000

level the binance guys are at break even

and that is a risk because when when a

cohort gets to break even that is when

they're most likely to sell because they

don't want to go into l so 55 is a very

key level the mining companies get this

the mining companies their average cost

base is $45,000 so if we break below or

close to

$45,000 that becomes a key level cuz the

mining companies don't want to lose

money either right and quickly verify

this um right now the average cost of

mining in the UK in the USA is about

$43,000 so so it's true we don't want to

break anywhere around 43 $45,000 because

then the mining company start losing

money we don't want the mining companies

losing money because then they will

start selling their stash and then

there's like one other cohort of people

it is the the bitcoiners the old OG

bitcoiners and their cost base is 22,000

so ignore all the squiggly lines on

Twitter the voodoo lines on Twitter with

the charts that people make look at uh

um uh these levels cuz these are the

real key levels the mining one is the

biggest one we should never go under 45

because if we go to 45 the mining

companies start losing money and that's

bad so if the Bears are right those are

the levels that you need to watch out

for um those those are the other other

the levels that that that that you guys

must watch out for if if the Bears are

right I think that for now because

markets are naturally optimistic now

this is very important that you

understand this right if you are in a

room of 10 people and you ask a room of

10 people is the market going to go up

or is the market going to go down

majority of the people will always say

the Market's going to go up why because

humans are naturally optimistic that is

how humans evolve humans naturally when

we are born we are born optimistic

people it's actually chemically inate in

us in our specifically in our younger

years in our younger years we're

stupidly optimistic um and then as we

get older we become less and less and

less optimistic that is how humans are

made up right like that is how humans

are made up we have much more serotonin

specifically in our young years and that

usually makes us optimistic people so

honestly in markets generally you expect

more people to be optimistic than

pessimistic and the reason for that is

it is the reason why human human human

humans evolve it's also the reasons why

bull market Market are always usually uh

markets are usually moving upwards

because humans are naturally optimistic

people

right however every now and then we have

Corrections every now and then we we

have a correction we just had a

correction you can see that Corrections

only happen like 5% Corrections happen

in markets three times a year on average

10% happens once a year on average 50%

on on on traditional markets happens

once every second year and 20% pullbacks

happen once every 3 or four years

naturally because human optimistic this

is how things work out but every now and

then we have Corrections and what is a

correction a correction is an

opportunity for the market to correct

and by correct we mean take things from

the hands that they shouldn't be in and

put them in the correct hands next time

the market under goes a correction what

you got to think to yourself is oh my

God this is a correction what is a

correction supposed to do a correction

takes coins from the wrong hands and

correct it by putting it into the

correct hands and that's exactly what

this correction did this correction took

the money from in in the stock market

retail sold 1 billion institutions

bought 14 billion you get

it stocks went from the incorrect latest

cabbage spinach hands to the correct

hands that's why it was a correction

okay

in Bitcoin

44,4 48 Bitcoin have moved from

permanent holder addresses to sorry to

permanent holder addresses in the past

30 days it's an accumul accumulation

period a

correction a correction is about coins

assets Investments moving from the wrong

hands to the correct hands which is why

it's called a

correction what we're realizing now is

that the ETF holders are the correct

answer because they are diamond hands

because when the market went down they

did not the market went down 14% over

the weekend and they did not sell a

single coin in fact they bought not only

did they buy Bitcoin but they actually

landed up buying ethereum too which was

huge it looks like the ETFs are now

moving into the second phase where

15,000 wealth advisers are going to be

selling Bitcoin ETFs cuz they're now

allowed to okay they're now allowed to

some Simon book says Corrections are

gorgeous opportunities they are if you

are the correct hands cuz if you're

taking something of value and someone is

willing to sell it to you when the price

is going down and it lands up in your

hands you then know the item is in the

correct hands and that's that that's

what you got to think about every time a

correction happens in the last 48 hours

Bitcoin Wells acquired 30,000 Bitcoin

that's 1.62 billion um they acquired eth

while you guys were Panic selling due to

the market cash the seven siblings

that's the big entities as bought 129

Million worth of eth uh and who was

selling well there it is the the

incorrect hands the short-term Traders

were actually the one selling so

effectively Corrections are moving from

the the incorrect hands to the correct

hands that is what uh what it's about

now I want to quickly talk to you about

a correction and about preserving your

capital in a correction as you guys

know I was busy on a uh challenge un

bitf funed so I'm ashamed and proud to

say that I lost when I say I lost let's

quickly just understand how bitf funded

works it's what you call a prop trading

firm it's a firm where you trade with

other people's money now I'm not telling

you this to show you the platform just

listen carefully why why I think this is

so

important effectively hard works is you

pay either $49.99 249 399 or $599 and

you trade with a demo account until you

can prove you're a good Trader and you

prove you're a good Trader by getting 8%

in round one 5% in Challenge number two

and then you're trading with other

people's money with their money but you

keep 90% of the

profits I had passed challenge one I got

the 8% I was halfway through challenge 2

I had bought myself a $99 account and I

was halfway through challenge two and E

and I was long e and e turned and I got

destroyed okay in the correction I got

destroyed

now I thought about this long and hard

now listen to this if I would have been

trading a leverage account and I would

have had $10,000 in a leverage account I

would have destroyed the entire

$10,000 on bitf funded all I lost was

$99 and today I'm going to be buying

another challenge and start again until

eventually I get it right and I'm going

to trade with other people's

money that's why this is such an

important product because if you were

trading with your money you would have

lost your whole account when the market

CAU us off guard unless you were

short but me I was long and instead of

losing my entire portfolio I lost $99

and I live to fight another day which is

exactly what I'm going to do until

eventually I end up trading with other

people's money with bit funded money if

you want to do the same there is a link

below bitf funded.com this is where you

learn where you trade with other

people's money if you're a good Trader

this kept me safe cuz if I was Trading

My Own account I would have destroyed my

entire account simple I I need you guys

to know that before we move on to the

altcoin section I know that if I wasn't

trading on bitf funded I would have put

$110,000 into an account my entire

account would have been liquidated it's

not I lost 199 I only lost $99 and if

the market would have gone up I would

have made 90% of the profits biggest

[ __ ] no-brainer in the world trade

with other people's money bitf fund.com

guys I wasn't supposed to sh it but I

just wanted to show you how important

that was let's talk about alt coins cuz

that's why you guys are

here look at this it's [ __ ] beautiful

it's green look at it wow we except if

you go to the weekly and then you

realize there's still a long way to go

to just get to where we were last week

um a is still 30% down Breet is still

30% down run is still 30% down all these

coins are still 30% down so we've had a

good day but if the Bears are right then

you know we got a lot we got a long a

long way to actually go here but there

is one chart that I do want to show you

it's this chart over here and I'm so

proud of this chart because number one

you know I'm the biggest Soul bull in

the whole world number two I cired and I

showed you guys when I thought there was

Peak fat on Soul the other day and I

told you we were going to break through

the soul eth alltime high and now we

have broken through the soul eth alltime

high and it looks like soul is now in

price Discovery relative to eth and soul

is at $152 and soul can't do anything

wrong it's also printed a cup and handle

and you know the cup and handle is one

of the most bullish uh technical

analysis positions out there so Soul

seems like it's playing out as per

thesis and to be honest if there was one

token only one token to hold in the

cycle I would say you have to hold Soul

this is the one this is the chosen one

this cycle this is the chosen one this

cycle uh yesterday Jupiter and drift

protocol casually printing $1.5 billion

in perpetuals uh volume yesterday

obviously a lot of it meme coins

obviously a lot of it is is around the

meme coin cycle but it's great to know

that Souls happening and honestly I

don't think you have enough soul in your

in your portfolio a lot of people are

playing scenarios now what if the soul e

chart just got to 0.1 okay like right

now and that means that the that the the

ratio of Sal to e would be 0.1 you would

be talking about a s of 3 or

$400 um sorry um uh yeah three 3 or $400

but people was talking about the ratio

going to.

1.15.2 there could be a massive run

coming up in Soul and if it is I think

that that's the chart that now

represents alt season in the Old Market

it used to be e but in this market I

think soul is the proxy for alts not eth

and so all eyes must be on the soul

chart if you want to see uh altcoin

territory the Bitcoin dominance chart

even though it's looking very strong

look here look look at the BTC

btcd quickly get the BTC do

do so yes Bitcoin dominance is heading

to alltime Highs but what this chart

over here is showing us is that usually

when we get to this level is when it

starts to turn and even Ben Khan says

like he thinks that in September and

we're in September next month uh that we

might actually start turning here we

might actually start turning here um

also in the last 24 hours $22 million

has been bridged from ethereum to salana

Via Wormhole so you see that there is

money flowing from ethereum to salana

Via via Wormhole but I do want to say

one thing about this right I don't know

why anybody would use Wormhole got to be

honest not when there

are things like dbridge so like for me

dbridge is like the best bridge if you

want to bridge money from any network to

any network then dbridge is actually a

better place to work now just to prove

it what I'm going to do is I'm going to

do the following I'm going to say I'm

going to go to my Twitter I'm going to

say here if

you if you are

watching my show

live you

are a

legend

please and

you will be

Filthy

Rich this

cycle please drop your

soul s address here okay drop your Sal

address if you're watching the show um

and and and I'll show you how just why

you should be using dbridge not fun not

uh uh Wormhole Wormhole is for worms

dbridge is for aute investors okay so

you should be using what are weing used

to bridge money why do we use B bridge

to bridge to bridge money because way

better than it's the fastest to bridge

from any network to any network and it's

the cheapest to bridge from any network

to any network and they are partners of

Crypt band that's why we do that

anyway okay are we back are we are we

back in live okay amazing amazing are we

back are we are we back in live okay

amazing amazing amazing we're back in

live where did you guys pick where did

we guys lose us where did you guys

losers almost a million e they've got $2

billion worth of eth so they are

actually uh selling eth look we are live

you see selling E look we are live you

see everyone says we're live

Frozen again