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CRYPTO 101
Crypto Rundown: Buy The Dip?! Why Bitcoin and The Crypto Markets are Coiled to Trade HIGHER!
00:42:55
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- [00:00]
Host 1
Foreign.
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Host 2
Welcome back to the crypto rundown where we talk about everything that's going on in the great world of cryptocurrency and blockchain technology, from the fundamentals in the news to the technicals on the charts. We spend the time doing hours of research so that you all don't have to and we bring it to you all completely for free in under an hour. And we got another great one as we are pushing our way through August now. We got some really good data today. There is a lot of information coming out, there's a lot of news coming out on both the crypto and the TRADFI side. We want to connect all the dots, we want to make it all make sense, and we want to really just feed it to you all in a pretty easy to understand fashion. So we're going to be of course, looking at the charts, looking at some of the price movement that we've been getting here over the past couple of days. But specifically as it relates to the crypto market, there's a little bit of a pullback right now and everyone's asking questions, is the top in. We're pushing towards that historical monumental point in the cycle, about a year and a half after the having is the top end for the crypto market. Are altcoins done running? Well, we're going to look at the charts, we're going to answer that and then we're going to back up what we think is the most likely scenario with some cold, hard data. We're going to look at the news, we're going to look at who's buying crypto, what the big whales are doing, and a whole lot more. And of course, I can't do this without my good old buddy and trustee partner here on the podcast, Mr. TiVo.
- [01:34]
Host 1
My guy. Happy Monday. Happy Monday to you. Happy Monday to everybody listening. Yeah, it was fun weekend. I hope everybody enjoyed it. We had an awesome show on Friday with everybody. So if you actually didn't check that out, it's going to be the latest post on the feed in the podcast channel and also for YouTube, make sure you go back and check it out. It was really cool to have Rohit and Brian and you together all in one. And the numbers are doing great. It's the one of the most watched things we've ever produced on our YouTube, so you're not going to miss out. A lot of that was actually really cool in the sense that we talked about kind of on a macro level, but like a zoom out, like a bull market level. And Rohit gave us the cycle we were talking about like the cyc, where are we in the cycle, how to read cycles. Obviously did the deep dive with Brian and Memes and then you gave us a lot of technical analysis. And then I think it's cool to follow up with today's episode again, kind of more, more in the moment of the price action. So it's good to be with you here. And yeah, a lot going on this week in the crypto markets and on the macro level. So we're going to cover it all for you.
- [02:40]
Host 2
Yeah. Yes, we are. And you know, I think one of the things that we should just jump right into is just like what's happening with the price action here? Because that's where I think a lot of people are concerned with like, why are prices falling so much? And correct me if I'm wrong, YouTuber, but I'm like 99% sure we covered this last week where we are saying, hey, we're pushing in the all time high resistance levels. We said that there was all time high resistance on bitcoin, on etherium, on a lot of these leading alts, the total two, the total three. And when like we looked at these charts and we said like, hey, there's some like decent resistance up here to actually pay attention to. But in the short term, you know, maybe that's a little bit of a pain. We call it the slip dip in a rip. And the long term, this is just another accumulation opportunity and that's the way that I view it. So what I'm going to do here is I'm going to throw up the charts for us so we can actually take a look at what is going on here in crypto. And a friendly reminder here is that if, if you're tuning in for anywhere that's not YouTube, make sure you go over to our YouTube channel. That is where you're going to see all the charts that we're talking about, all of the news articles, all the different data points, like anything that we're going to be referencing is going to be on screen on YouTube. So if you're coming from Spotify, Apple, Podcasts, Audible, anywhere else, check us out. We got lots of bonus content going up there as well, completely for free. So yeah, I mean, as we get into this here over on bitcoin, you know, this is what we look for. You know, a little bit of a pretty sizable retracement starting on Thursday. Now on Thursday we hit the new all time high and then we retraced pretty, you know sharply after the PPI numbers came out. Then on Friday, same kind of thing, continuation to the downside, nothing too crazy, we consolidated over the weekend. Now we're seeing a continuation to the downside here on Monday at the time of recording this. So so far, I mean we've retraced about 7% since last Thursday. And a decent little retracement on bitcoin, you know, we know that it is historically more volatile than it then I would say the average tradfi asset. So it's not anything too crazy. I think it's actually pretty common for us to see retracements of like 10 to 20% and we're not even at that market. So I think as we come back down towards the 110, 115k level, I think that then we start kicking into some support levels. I think then we start finding a much more reasonable area to bottom and that's really what we're seeing right now. So one of the big takeaways that I have here is that, you know, we found support at our previous highs last time right around 112k. That's where we saw ourselves bounce right around here. All that I'm looking for now is can we hold this level or preferably have a higher low off of this level somewhere above 112k. And that's really the ideal kind of look as we, as we look into the future here is like we want to see a higher low above $112,000 on Bitcoin. So is this anything too horrible or scary? I know we don't like retracements. I'm going to say no. You know, we look at what's happened here in the crypto market so far. We have ups, we have downs, It's a natural part of any uptrend. And you can go all the way back to 2022 here and you can see that this has just been the natural cycle. We have higher highs, higher lows and we kind of just continue to the upside even during periods of big retracements. And we've had a couple of these where you know, bitcoins retrace 20 something percent there, it's retraced 30 something percent here, another 30 something percent here. It's natural, it happens, it's not the end of the world. Sometimes, you know, we even break below the 200 day moving average like here, here and here, and guess what? We still resolve higher. So my main picture that I'm trying to paint here is like, hey, zoom out. We always like to say this. When in doubt, zoom out. And the reason for this is because the uptrend is still much, you know, very much in effect. The trend here to the upside is still very much your friend. So as we push down into either A, this previous consolidation area, the top half of this, or B, you know, our prior highs, I'm okay adding the bitcoin down here. That's what I'm going to do. I'm going to be adding to some of my longer term positions and I'm kind of taking this stance that hey, there's no evidence that the top is in here yet. And all that this looks like to me is another pullback. And we see these, you know, feels like every couple of months. So not the end of the world. TiVo. I know people are quite upset about it, but yeah, nothing, nothing too toxic.
- [07:21]
Host 1
All right, Crypt Nation fam.
- [07:22]
Sponsor Representative (Afani)
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- [07:24]
Host 1
About an important issue going on right.
- [07:26]
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- [07:56]
Host 1
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- [08:17]
Host 1
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- [08:21]
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- [08:35]
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- [09:06]
Host 1
You've been, you've been on point. I mean, we, we do this, you know, every week, sometimes multiple times a week. Right? And it's like you always kind of say like, hey, this is the, this is kind of the resistant point. We could see this. We could see this. We even kind of saw like maybe at 4,000, you called it, right? Like we hit 4,000, you're like, hey, this is kind of a resistance point.
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Host 2
Yeah.
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Host 1
And we showed that. And then obviously the crypto bagel gave us the strength to break through that. But yeah, I mean, it's like, it's all something that if you're watching, if, if you're watching this weekly, that's kind of the pitch, right? You're getting alpha here weekly. But then also just to shout out you and, and what you do, you know, besides this show is, is course. And again, if anybody's interested in learning more to join Brendan's trading course where you get to do this with him, take his course and then do this with him live twice a week for an hour. Check the links below. I put them down there for you and you can sign up and get more information on that. But overall, I, I think definitely Ethereum, as we've talked about, has taken center stage a lot. And it, I guess I didn't know if you wanted to cover anything else before we move on to kind of that, that stat that Ethereum's had the best Q3 ever.
- [10:16]
Host 2
But I think real quick, before we get into that, I mean, let's just look at the Ethereum chart a little bit more closely because, you know, you made a good point. Like we, we broke 4k and we were keeping an eye on that and then we came up like literally to the TT though. We came up and we tapped the all time high here and we came over, we tapped it and then we rejected it. And we kind of saw as we said, bitcoin at all time high resistance, Ethereum at all time high resistance. As you can see here, the total three, tapping the all time high resistance as we can, you know, let me erase this line as we can kind of raise over here, this tapping all time high resistance, the total three, which is another one getting really, really close to all time high resistance levels. And so Just across the board. And you can look at like a lot of other leading altcoins, you know, XRP tap new all time highs, saw some resistance up there. BNB was a similar story, tapping all time high resistance, having struggles up there. So a lot of these leading altcoins were just at critical levels of all time high resistance. And sometimes, you know, it acts exactly how it sounds. You know, resistance is resistance. You know, sometimes we hit it, we don't break through, we pull back a little bit. The bulls collect their strength and then they have the opportunity after accumulating lower, to push price back through the upside. And we're seeing that everywhere and you know, especially with Ethereum. And I'll kind of let you lead us back into that same point, Thibaut. But you know, we hit that level, we pull back, we collect more strength and I think that's what we're seeing as we kind of consolidate back towards the low into 4,000. I would imagine the buyers start coming back in down here.
- [11:55]
Host 1
Yeah. And again we're going to obviously with all the treasury companies in both Bitcoin and Ethereum and we have some new stats on that that we'll share after this Q3 stat. But the constant buying pressure is there from a lot of different angles. But I thought a cool thing. So this was floating around on X. So anything on X, you know, I'm bringing to you guys and whatever crypto, Twitter or the crypto sphere is talking about. So Ethereum just finished the best Q3 ever. So let me try to see if I can make this a little bigger. I mean, what a Q3? 85%. The best Q3 ever. I mean, obviously in the early days, you know, the 2017, you had those, you know, 500, 400%. That's absolutely insane. More recently in the, you know, 2020, 21, you have seen 100 to 160% quarters, which is, is super exciting. But I think, I think more importantly here it's like looking at Q4, obviously the averages, averages can kind of be skewed depending on if you have, you know, huge outliers. I think the most interesting thing on this one is the median. So the median is telling you here that Normally, you know, Q4 is overall the most bullish month for Ethereum. So again, just a stat. I wouldn't say this is. If this is the one thing that you're doing to go all in on Ethereum, probably not the right move. And as always, like this isn't personal financial advice for anybody. Just a couple Guys talking crypto. But I think the, the table, the table is set. And I, I think that's kind of where the conversations been for Ethereum with the, the narrative takeover. And I loved our conversation the other day of kind of that narrative talk of, of Solana kind of Versa theorem. I know we, we touched on that last week, but I don't know, I always find it fun when these stats pop up and it kind of like, it kind of brings you that again, zoom out. It's like, oh, man, look at the history of this. Wow, that was, that was a wild ride. And you know, when you're in it and you're trading it and you're in your ride in the highs of it, like, it definitely feels awesome. But I think these are the kind of stats you need to kind of stay grounded and stay level and kind of engulf yourself in the research.
- [13:57]
Host 2
Yeah, Yeah. I mean, 100%. And, you know, a lot of people are looking for a Santa Claus rally. Historically, August isn't the best month for the crypto markets. So we're kind of living up to that name right now. Or, you know, August is historically like one of the. I believe it's one of the worst months. And that fades us into August, September. And then you start looking at the numbers for October, November, December, and they look a whole lot better. So typically, the outlook that I've had, and I think a lot of traders or investors have had, is that they say, okay, we're sacrificing August and parts of September to have a really hard push for the end of the year. And that's typically the way that it works out. Again, not always. You know, sometimes we have just a, just fantastic cycle, but a lot of the time, kind of the way that it's looked at is like, all right, we sacrifice a little bit of August, September, we get some red, we get the flush outs in here, one thing or another ends up happening, you know, whether it's fundamental or technical. And then that usually presents the dip buying opportunity for continuation to the upside. And I don't see this being any different so far. And who knows, you know, maybe some crazy event happens that could be unforeseen. But right now I think we're just according to plan. And we're already seeing, you know, speaking of accumulation here, I mean, we're already seeing a lot of different people and treasuries and people just all over the place looking to accumulate more TiVo.
- [15:22]
Host 1
Yeah, the consistent buying, it's something that we've obviously followed on the show and in the crypto space, it's kind of, again, one of the new narratives here, but surprise, not a surprise, is Michael Saylor buys more bitcoin. You put on my radar Meta Planet again, they're gonna go buy some more bitcoin for about a hundred million dollars. And then we also have. This is a newer one for the bitcoin treasury companies, is an international one. So this is out of the Netherlands. Amdax has plans to launch a bitcoin treasury company on the Dutch stock exchange. So, again, this is the type of things that you see when there's a strategy that's working. And obviously, Michael Saylor is kind of the godfather of the bitcoin treasury strategy. But when you start to kind of see this type of stuff, I don't, I don't know, it's an adoption, and we've seen it in the US Stock market. But I think it is interesting and, and kind of to see it kind of go international as well, because once you start getting that worldwide adopted adoption, and we've talked about how we're keeping tabs on the United States and kind of that US Crypto stockpile and how Scott Bessant got a lot of push back after saying that we're not buying Bitcoin. And then he had to clarify that with a tweet that we are looking into budget neutral ways to acquire it. So there's, there's just so much momentum here. So you're going to start seeing a lot of this out of the woodwork. And obviously there's been different altcoin treasury companies that are popping up on a much, much smaller scale. But it's news that you got to take in and you got to parse through. And then, of course, the biggest, newest eth whale of them all, Tom Lee, continues to accumulate Ethereum as well. And then their goal was 5% of the total Ethereum supply. And it seems as though Bitmine in very short order has gotten to 1%. So that would be 1/5 of the way there. And they got there quite quickly. So again, this is all stuff that we've mentioned on the show before. I know it gets a little repetitive, but, you know, when, when these, when these whales are buying and they continue to buy and that continuous buying pressure is there, you got to bring that into the equation when you do see these dips, because there is that constant buying pressure that's there. So it's interesting to kind of bring it up, talk about, and kind of weigh it with, with everything else that you're seeing in the price action.
- [17:42]
Host 2
Yeah, it is. And like, listen, I think if anything on these dips, we're going to see an acceleration of these different whales and treasury companies and reserves and all this stuff. I think we're going to see an increase or an acceleration of them accumulating more because, you know, they're, they're generally pretty smart about when they like to buy. You know, sometimes it's a little trolly with, with what strategy does, Right. Sometimes they do buy the top, but that's kind of their whole thing is like, listen, we're going to buy the top now, but you know, you've given us enough time and it's going to be the bottom for the next run. And I think when we're looking at this now, you know, they have adapted to say, okay, let's actually wait for a pullback and then we're going to start rapidly accumulating. And that's what I think we're going to see right now is just a ramp up of accumulation over here. So listen, we're going to dip, it's normal, it happens. But now I think what we're going to see is a little bit of scaling into some more heavier accumulation from these guys. And listen, and they also, they have these goals, right? You know, Bitmind said we want to get 5% of Ethereum and so on and so forth. There's no better opportunity to do that than on a dip because now you're paying less than you would have previously and you're getting a little bit of a discount. So that's again, kind of just feeding into my narrative of I think we're just still in a very much just like a buy the dip market and I don't see that going away.
- [19:09]
Host 1
Yeah. And because on top of the pre, the buying pressure from these treasury companies is also the ETF data is coming in and it still looks super, super strong. And so clearly the, you know, your bit mines with Ethereum and Saylor with Bitcoin, they're not buying the ETFs, they're buying, you know, spot. So when, when you pair that with the ETF data, obviously that's a lot of retail investors and a lot of probably huge hedge fund managers that are going in and being like, okay, do we want to buy Bitcoin, do we want to buy Ethereum, do we want to buy the ETH ETFs? And probably some of them are doing some type of arbitrage around maybe all three or maybe some of these funds probably aren't even allowed to hold pure cryptocurrency. So they have to do the ETFs or if they want the Alpha, they have to do bit mine because they can't go trade leveraged Ethereum. It's not in their rule book, it's not cleared. So you're starting to see, you know, the, the Ethereum ETF definitely lagged for a big time. And I know recently we've covered a lot of data around how the inflows there have been insane with keeping up with and sometimes even outpacing Bitcoin.
- [20:19]
Host 2
Yeah, it is. And like now what we're seeing, and I think we talked about this before, but like we had a billion dollar inflow day for Ethereum last month. We also had the largest amount of monthly inflows. The ETFs are crushing in this and we've. I don't want to be a dead horse, right? Everybody wants in, right? That's the point I'm trying to make. Now what we're seeing is like, again, that's not slowing down, the data is still really good. Now what we're seeing is people are just coping. A lot of people missed the boat they sold earlier. They gave up on bitcoin, they gave up on Ethereum, they gave up on all these different, you know, cryptos that are out there. Now we're pushing back to the highs, we tapped the highs on many of these and people are just coping hard because they know that they missed out, they sold at the wrong times and now they're regretting that decision. So if we go over to that other chart TiVo and sorry, oh yeah, you already got it pulled up. I mean, here it is, you know, speculators have now built the largest leveraged Ethereum short positions in history. And this is just people again, they're just upset. I don't think the reason why I say that they're coping, they're upset is because Ethereum didn't tap the all time high yet we're substantially at the largest place that we've ever been, like way higher than stuff that we saw back in 2022, 2023, 2024, all this stuff. And now that we're just below the all time high, people are loading up, they're coping, they're hoping for another one to kind of bring us back down so they can get back in. They missed their opportunity, they know it. And to those people, I, I'm saying, you know, I'm sorry, I think a lot of them are gonna get wrecked. We've made multiple different like videos. We've talked about it and I know we have especially internally like all these millions and billions of dollars of Ethereum short positions getting liquidated and wrecked and whacked and we're gonna make more videos like that. I think a lot of these people are stacking shorts. They are going to get, you know, I don't know if it's overconfident or what because now there's finally a pullback. But there's people that are seeing the first sign of a pullback and they're like degenerately loading short positions against Ethereum, against the trend here. And I just don't see a world where it works out for them. They're fighting the institutional side, they're fighting the governments, a lot of governments. They're fighting the big banks, they're fighting the treasury companies like they are fighting like all the people who have all of the money right, they're fighting at this point Wall street, all the big banks. You're not going to win against JP Morgan, you're not going to win against Larry Fink, you're not going to win against Fidelity who have been stacking. And if you think that like you are, I think it's just a little bit delusional. So unless these are short like day trading shorts, I don't see it as a good idea. They've made their accumulation plain, clear and it, you know, I don't see it stopping anytime soon. So I'm not saying that Ethereum is going to be $10,000 by the end of this month or next month or something like that. But I think that you know, given the future here, maybe pushing in the next 12 months, I think that we, we hit new all time highs, we pushed through a lot of this. I think we could see 10k in the next 12 months and a lot of these positions are wrecked. So what I don't want from this is for people to say oh my gosh, everyone's shorting Ethereum. Is this the move now? Should I have sold? And I would say no, at least not the way that I look at it, right? Not financial advice in any way. But I think we're going to come back to this and maybe we clip this tivo because I think we're going to come back to this at a future point. We're going to have a big old liquidation headline on Etherium and we're going to look back to this little like rant that I had and we'll see.
- [24:00]
Host 1
We'Ll See, yeah, it's always fun when you get those stats of, you know, X amount of shorts liquidated in the past, you know, 30 minutes or hour and then yeah, there's probably a certain price point here on Ethereum, you know, probably just above new all time highs where these guys start to get liquidated and they have to flip it. So yeah, it's an interesting thing to watch. I couldn't agree more that you know, when you're betting against people like, you know, the big boys, Fidelity and you know, even JP Morgan's getting on board with tokenization and figuring out a crypto strategy and then obviously Larry Fink. Yeah, I don't, I don't really want to be on the other side of the boat of those guys, especially in the long term. So it's something that, you know, we like to target and bring you guys these, these type of fun nuggets and like you said, we'll, we'll keep it on tab and see what happens here in the next couple weeks and months. But speaking of Larry Fink, quite, quite, quite the interesting news that came out about him over the weekend and, and speaking of not wanting to bet against Larry Fink because he's the CEO of BlackRock, how about not betting against Larry. Larry Fink because he's now the co chair of the World Economic Forum. It was appointed as an interim, interim position. Sometimes in this type of political space interim is just for obviously a short term and they find somebody new and there's more of a process to find the, you know, the, the more permanent replacement. And then sometimes interim is kind of short for let's see how the, the world. And then people react to this news. But it's really, it's really the long term play is like I will say he's in term and then he's going to be, you know, the official co chair. I don't know how that affects his being the CEO of BlackRock if he's allowed to even be full time co chair. But again, there's a lot of power, man. What's, what's that?
- [25:49]
Host 2
It's a lot of power.
- [25:50]
Host 1
A lot of power. I mean there's a lot of interesting, you know, thoughts around probably the World Economic Forum in general. I know a lot of stuff comes out on the Internet around that you could dive into some, some, some fun conspiracy holes, you know, if you want to wrap your head in some tinfoil and go down that rabbit hole. But it's just like you said, it's about power, right. And these people that have these egregious, egregious power. And you can agree with liking it or disliking it. That's not the point. That. The point is that the people that have this power make decisions and those decisions affect us all. And now, you know, this guy's on, on the chair of, of the World Economic Forum and he's just started the world's largest, in my mind, the world, along with Saylor, the world's largest, like buy bitcoin, buy Ethereum campaign via, you know, him kind of in blackrock being the leaders of the bitcoin and now Ethereum kind of ETF push. You know, the blackrock is basically going from, as we've showed you on the show of saying, hey, like crypto's bad, don't buy it. It's, you know, it's criminals and all that stuff to now, you know, these, this guy at blackrock is now sitting down our parents, our grandparents, all these people that they manage their fun and explaining to them why. Now bitcoin is good and you can trust it because we have our ETF and the vehicle and like they're the leading parts of the education. And again, it's to get more assets under management so they can make money. But it doesn't matter. It's all of an accumulation to go buy, you know, more bitcoin via these vehicles that he's pushing. So I think the fact that he's on the World Economic Forum isn't something that we can ignore. What do you think?
- [27:25]
Host 2
No, I mean, I think you can't ignore it. And it just backs up what we were saying is like, look at who you're fighting against now. Retail wants it, the banks want it, the government wants it. There's a few oddballs out that are like, outside of that circle that are still like, no, no, no. Like we all have that one friend or that one, like, uncle or something that's like, guys, no one except me knows what they're talking about. Bitcoin and crypto, it's going to zero because I believe that it's a scam and this and that. And it's like, all right, dude. Well, you know, you're pretty much the minority at this point. You know, you can fight retail, you can fight the government, you can fight the banks, you can. You know, you're at war against everyone, right? You know, everyone wants to use this. Even the institutions are saying, hey, we're looking at tokenization. I saw something that. It was an article over the weekend talking about how I think Dow and The S&P 500 are looking to use tokenization as well. And it's like, all right, so are you going to fight? Are you just going to fight like a 1v9 where you're just like against everyone and you're trying to hold out because you're like the, you know, I don't know, I don't want to read too much about it, but we all have that one friend who's like, trust me guys, I know best. It's all a scam. I've called it since the beginning and then every crash that I see, I called it. And then we go to all time highs after that and they're like, I'm calling it again, I'm calling it again. It's like, well, dude, look at all the gains that you've missed out on in the meantime. And. And you have it. Yeah, you have it here on the screen. S P 500 and Dow Jones are in talks about launching tokenized indexes. And this is really coming after. We've seen a big push from this. You know, we've seen other different, like exchanges and brokerages and financial companies with Robin Hood really leading the way on this and then all these other ones saying, well, if they're going to do it to their clients, we can't miss out on that market share. We're going to lose customers, we're going to use clients and all these other things. So now we're going to have to do it as well. And it's kind of a little bit of a frenzy now where everyone wants to have these tokenized assets in some capacity. And the way that this looks in, you know, maybe several years from now is at face value, it gives anyone the ability to trade these assets, whether you're in the United States, Europe, Asia, it doesn't matter. Everyone can trade different kinds of equities and cryptos. And down the road it's, I think, going to get more complex where we can trade publicly traded companies, cryptos, privately traded companies, different large market cap illiquid assets, maybe houses and real estate and stuff like that. And then, you know, hopefully even have a 247 market where anything and everything never closes, much like the crypto market. And so that's kind of the big picture and the big goal here. And it's all being sponsored by, or rather built on top of Ethereum and Solana. You know, we're seeing some of this stuff happen on Solana too. But you know, crypto, you know, blockchain is the big Takeaway here that's making all of this possible. So it's a hard, it's a hard train to fight.
- [30:23]
Host 1
Yeah, it's exactly kind of what I titled it. Like the tokenization momentum continues. And again, you know what it really reminds me of, this is actually a personal experience of mine. When I, my first job out of college. I've sold this on the show before was IBM. And that's how I, you know, met a bunch of tech people and they taught me about Bitcoin. This is back in 20, you know, 16, 17. And I worked in the Watson unit. It was called IBM Watson. It was the AI unit of IBM that they were building and launching. And the more I learned and got in there and it was the early stages of AI with large language models. Not the early stage of AI, but it was like the early stages of consumer B2B AI. And, and kind of what I learned through that experience was it really wasn't ready yet. Like the tech really wasn't there for these consumer B2B type platforms. But we were, we were trying to sell it and trying to build it along the way. Right? That's what businesses do. They sell the product and then they're going to get revenue to build it and keep making it better. But it was a little early. So like IBM, Watson, you know, the huge, the marketing push was kind of a little bit better than the actual product itself was what I learned kind of during my time there. But it was, but it was, it was just a little ahead of its time. It's not, it wasn't wrong. You're just like a little early on sense of the, you know, baked of the tech. And I kind of wonder what's going to happen with tokenization. I bring up that story because I wonder, you know, now that Robin Hood's kind of like, hey, I think we have the technology to go ahead and do this and they announce it. And now we're seeing everybody else start talking about it. Oh yeah, tokenization. We're doing tokenization. We're doing tokenization. It's like, it's a really interesting to see, you know, because I think the crypto technology is there to start definitely making these things happen. But all these companies and the, you know, again, the S P and the Dow and all these other big banks, like now they have to throw out this like, oh, we're looking at a tokenization. But do they have the teams and the structure to actually put it together and do it the right way? And I think that's going to Be an interesting thing to kind of track on is, like, who actually gets this done the right way and can actually bring this to market.
- [32:21]
Host 2
And listen, like, I'm gonna be honest. I'm biased here. I have exposure in a Robinhood account. I got exposure to Robin to talk like. But I do, like, firmly believe, like, they're gonna be one of the people to. To do this the right way.
- [32:32]
Host 1
They've been building it for a while, Right.
- [32:33]
Host 2
That's like.
- [32:34]
Host 1
The thing is, they've been actually working on it under the hood, whereas a lot of these other guys are just kind of doing the buzzword thing, right? Like, oh, yeah, no tokenization of stocks. For sure. For sure, for sure.
- [32:43]
Host 2
Yeah. Such a good way to put it is people are just using the buzzword.
- [32:48]
Host 1
Yeah. But just to wrap up, I thought this was from our friend Ryan over at Bitwise, because the tokenizations moving forward, Obviously the Bitcoin ETFs, Ethereum ETFs, and the fact that Larry Fink is on the New World, you know, not New World Order, New World Economic Forum. Whoa, whoa, hey. Too much tinfoil hat talk for one day. But I was like, I think this is a big deal. I was, like, kind of debating him out. I was like, is this a nothing burger or is this. Is this a big deal? And he kind of summarized exactly what I was thinking and what we said on the show. It's like, okay, the CEO of the world's largest asset manager has the world's largest Bitcoin etf, the world's largest Ethereum etf, and it says every asset in the world will be tokenized. Has been appointed as the interim co. You know, co chair of the World Economic Forum. So I. I personally don't think it's a nothing burger. As, again, there's just every time we sign on to do one of these, like, yeah, there's just some. Some tidbit of news that's worth talking about.
- [33:44]
Host 2
Yeah. I mean, we're talking about the world's largest asset manager saying we're going to tokenize everything. I mean, over $10 trillion in assets under management. And they're coming out and they're just saying it, and they're like, hey, everything's not some things, not some sectors. Everything's going to be tokenized. So, you know, take it for what you will. I'm going to take it a little bit more literally, and time will tell.
- [34:07]
Host 1
Yeah. And. And the momentum continues in the crypto IPO market. I know this was. This was something that's kind of been hitting the news wire and we've talked about it, but it was like unofficial. And now, now it is official that Gemini files the registration with the sec. It's out in the open. They're going to be going and looking for the ticker symbol. Jemmy J E M I so congrats to the Winklevoss twins, congrats to the Gemini team and actually sponsors of the pod right now. So we appreciate the, the sponsorship and definitely something to follow again I think with, with Bullish. The launch of Bullish last week, which was super crazy. Obviously Circle, like the momentum's there and just in general the momentum for the IPO market in, in tradfi is pretty hot right now. So I'm sure, I'm sure this one will have, will have a lot of momentum behind it and it'll be interesting to see where it gets pretty priced.
- [35:02]
Host 2
Yeah. And we've talked about this before, right? We've talked about, hey, Gemini is looking to do this. It's like a pretty high likelihood. And there's a couple of names that we talked about. You know, we talked about Circle. We talked about, I, I think Bullish at some point we've, or I've mentioned it at some point. I don't remember where we talked about Gemini. And then there was one other one that we talked about and it was Kraken. And so far they're the last one that's been like on this alert list where they haven't officially announced it yet, but it still looks pretty likely in my opinion. You know, maybe that's something that we'll see, I think next year. But I do see a world where Kraken's gonna ipo and that's an exciting one because I use their exchange and I saw Ryan Boylan in the chat reoccurring member. We love to see him. And the chat's been popping today from a lot of people. So just quick little shout out to Ryan and Tim and everyone else that's been in the chat. I saw that we had Vlada and a lot of other people. We see you all in the chat. We appreciate your comments.
- [36:00]
Host 1
Matt, our guy Matt. Matt was here early today and Matt.
- [36:02]
Host 2
Yeah, we had. Yeah, just people everywhere and a lot of other listeners as well. But yeah, you know, I think that, you know, we could see more of these and I hope that we do. And so far it's been exciting because I use a lot of these. You know, we talked about Kraken and Coinbase and Robinhood and, and you know, certain People like different ones and like that's perfectly okay. Like, personally I have, you know, I, I live, breathe, eat, sleep, this stuff. So I have accounts on all of them and I use all of them. But you know, it's perfectly okay to have favorites in this kind of thing. You know, Coinbase is I think a much superior exchange when it comes to specifically crypto. And then Kraken's another competitor where I think Kraken even gets a little bit more advanced than Coinbase does. So I kind of see like a tier system where like Coinbase is probably the best overall crypto exchange. Kraken is a little bit of a more advanced crypto exchange. And I think they have edges there and then you have Robinhood, which is like the very basic entry level you're coming in here. You don't need access to everything. You don't need these complex order types, you don't need all these different options in altcoins. And it caters to people who want a little bit of the stock market, a little bit of crypto. They want easy access to it all. They don't want it to be overcomplicated. And so there's something for everyone. And yeah, you know, again, kind of wrapping this full circle, I hope that we do see Kraken ipo. Personally, I would like it, I would like to get shares in it because I use them and I think the IPO could be really a really cool thing to see. But that's my bias.
- [37:35]
Host 1
Yeah, there's just so much going on and it feels like between the price action being bullish recently and the news flow finally caught up, I felt like the news flow for a while. We obviously had, you know, some nice rips this year overall. But you know, there's those times where we've talked about, on the pod, we talked about, I said it, I remember that one day I was like, I can't believe I'm gonna say this. I can't believe I'm gonna say this. I go, I'm bored with 100k Bitcoin. And, but that's just how, that's just human nature, right? It's human nature, honestly. Obviously it's a mix of greed but you know, the people, people want price action. So even though sometimes the price action gets stagnant or like right now you're dealing with, you know, you bump up against those all time highs and we've tested them before and you know, retrace and sometimes retraced aggressively, especially in the altcoins and people just get Worn out. The way it's that wear you out trade that Bryce talks about all the time, right? They're going to wear you out. They're going to try and wear you out. And when, when you're getting weared out or you're getting bored or you're seeing the price action that you don't think agrees with kind of the sentiment, this is what this show is all about, right? And that's why we try to bring you the good news flow. And yeah, we just love our fam. But if you're listening right now and you're new, we welcome you get involved in the chat on YouTube. On the bottom right, you'll see our logo. Please click it, please subscribe. And if you've been watching this video for, you know, the last 30 minutes, give us a, like, every little bit helps to, to kind of keep making, keep making this stuff and making it for free and giving it out to you guys. We've got one more, one more topic. And, and funny enough that we talked about the chat, because this is what the chat's been talking about. Matt Ryan, they were kind of talking about interest rates right, in Jackson Hole and is there going to be interest rate cut? And so it's a, it's a big week, so I think we can set the stage and we tell everybody, you know, hop in, get in, fam, we're going to Jackson Hole. So Jackson Hole is, I guess there was a little maybe confusion in the chat of what Jackson Hole was. Ryan said there's gonna be a rate cut it. So Jackson Hole isn't an actual Fed meeting. What we're used to on those Wednesday, I believe they're on Wednesdays when, you know, pal decides to set the rate cut and has his, his press conference that moves the markets a lot. That's not what this is. So Jackson Hole is actually, you know, kind of just a form. So it's actually an international event. A lot of leaders, a lot of economic leaders from around the world will be there and they're discussing policy and obviously, you know, Fed Chair Powell being in the US is the leader of that. And so a lot of times it's a nothing burger. And it's a kind of a macro event where they just kind of talk, okay, the US Is doing this and Germany's doing that and, you know, Europe's doing this and, and Asia and all that stuff. So a lot of times it's, it's, it's not. But there has been a precedent set before where if there's Going to be a big move. And this was on the last time we rose rates. It was the rate hiking cycle that ended the last big tech bull market. Jerome Powell announced at Jackson Hole and kind of forecasted. It's not announced. I guess that's not the right word because an announcement is official. But he forecasts and he, he's always done, you know, like him or dislike him. He does do a good job at communicating in his press confere. And so people are wondering again, sometimes it's a nothing burger. This is going to be on Friday where he speaks at Jackson Hole. So we're kind of all eyes are on Friday to see what comes out from his, his speech. But is he gonna, you know, again just talk in general from the macro point and not really mention anything that that's, you know, for us specifically in the US or is he gonna have some type of speech where, you know, basically he's forecasting that he sees that it is time for a rate cut at the next meeting in September and he's got a hell of a get up there on the screen if you're on YouTube. That's a fun little meme I've been tossing around of, you know, a combination of the Sydney Sweeney jeans commercial and Jerome Powell. But Brent, are you excited for Jackson Hole? Are you tuning in and do you think this is going to be a nothing burger or do you think we're going to get some type of forecast here for what we're going to see in the fall?
- [41:23]
Host 2
Yeah, I always like Jackson Hole. I always like to tune into it again. I trade everything. So you know, with a heavy focus on crypto quite obviously. But I think it's important to pay attention to this stuff, listen in. So I'll definitely be tuning in to see what they have to say. Sometimes it kind of turns out to be a nothing burger, but other times it can be pretty helpful and pretty use like pretty useful. So I see people calling for an emergency rate cut decision happening at Jackson Hole. No, yeah, no, let's, let's be realistic here. I've already seen it all over Exodus this morning and stuff and on social media because like we were pulling back this morning at PPI and I just don't see that happening. So I want to temper everyone's expectations and say he's going to give us some great information. I think the likelihood of high of him giving us an emergency rate cut in Jackson Hole is like less than 1%.
- [42:17]
Host 1
So yeah. And then as Tim, Tim threw in the chat there, we've got Tim. So Tim said Poly Market's a good source. Obviously Cali, all those betting websites, even Robin Hood has the betting markets now. So you go check and see like, hey, rate decision in the fall rate decision or for September rate decision for, you know, all the next Fed meetings. You can kind of see the odds. And if you're somebody that likes to play that, like you said, I trade everything as well. It's more of a gamble. It's like sports betting. But yeah, if you want to play an odds of a rate cut, you probably want to get some action on it before Jackson Hole because you know there is probably going to be some type of vibe that Pal gives out that that's going to lean, you know, one way or the other is going to be my guess. I think it's going to be a pretty again, I, I think we're going to get something out of it this week. I don't think it's going to be a pure nothing burger. I think it's going to be something that we want to tune into, digest and listen to and, and you know, you guys know that we're going to do that for you and we'll probably, we're going to do our another episode on Thursday. So we'll see if anything comes out of Jackson Hole before then and then if not next Monday, we'll definitely break it all down for you.
- [43:23]
Host 2
Yeah, I mean we're less than a month away from what will likely be the first rate cut and you know, hopefully we see it. You know, I think, I think the odds right now are for 25 basis points. I'd like to see 50, but again, I'm biased because of how, because of how it would affect the crypto market. But yeah, I mean that brings us to an end here, everyone. So, you know, lots of stuff happening and the cool thing is that we get to come on and make these multiple times a week and every single time we do this, these, there's just so much to talk about and we love hopping on here, chatting with all of you, seeing all of your comments and everyone that also just, you know, either doesn't comment or watches this back at a later point in time. We appreciate all of you as well. So continue to come in here. If you have ideas for us, send them our way. We're always looking for new video ideas, new tutorials, like we want to know what you all want to see. So don't feel or don't be afraid to leave the U.S. a comment or shoot us a message and we'd be happy to take a look and put out some new videos for all of you. So thank you all for watching and we'll see all of you at the same time, same place on Thursday. Take care.
- [44:41]
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Host 1
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