DON'T Buy Crypto Now! [WATCH THIS FIRST]
Summary
TLDRThe 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
- ๐ฆ 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.
- ๐ The market reacted positively to the Bank of Japan's decision, with altcoins and Bitcoin's price surging, indicating a temporary relief rally.
- ๐ค 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.
- ๐ 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.
- ๐ก The speaker suggests that the current market situation could be akin to taking a painkiller, providing temporary relief without addressing the underlying issues.
- ๐ 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.
- ๐ 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'.
- ๐ง 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.
- ๐คทโโ๏ธ There is skepticism about the use of Wormhole for bridging assets between networks, with the speaker recommending dBridge as a superior alternative.
- ๐ 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.
- ๐ 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
๐ 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.
๐ 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.
๐ค 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.
๐ก 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.
๐ 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.
๐ 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.
Mindmap
Keywords
๐กInterest Rates
๐กMarket Volatility
๐กAltcoins
๐กBitcoin
๐กMarket Capitulation
๐กPainkiller
๐กAlt Season
๐กETFs (Exchange-Traded Funds)
๐กMining Companies
๐กRisk-On
๐กBear Trap
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 [ย __ย ] 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 [ย __ย ] 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 [ย __ย ] 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 [ย __ย ] 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
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firm it's a firm where you trade with
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you trade with a demo account until you
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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
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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
[ย __ย ] 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 [ย __ย ] 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
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