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CRYPTO 101
Crypto Rundown: Where Are We in The Cycle, Facts Around Altcoin Seaosn, & Top Meme Coin Trades Now!
01:08:30
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- [00:00]
A
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- [03:09]
B
All right everyone, welcome back to the the Crypto Rundown where we talk about everything that's happening in the great crypto and blockchain markets, from the technicals on the charts to the fundamentals in the news. We spend the time doing hours of research so that you all don't have to and of course we bring it to you all completely for free. So if you're brand new here and this is your first time welcome, make sure you check us out over on YouTube. We're going to have lots of visuals that you can watch, lots of charts that you can see, lots of articles as well. And the only way to view that is on our YouTube channel. So if you're coming in from Spotify, Apple Podcasts, Audible, anywhere else, check us out on YouTube. We do these market updates and these rundowns multiple times a week. We also have all sorts of crypto tutorials, podcast episodes, special guests, you name it. We're here to make sure that you all stay informed on everything happening in the crypto market. And we've got a really great rundown in store for all of you today because we have on several other members of the analyst team. It's going to be a special episode. We're going to talk about just the overall state of the crypto market. Where are we in this market cycle? How much further can we have to go? Are we in this full fledged altcoin season and what altcoin should we be paying attention to? And we want to dive into some of these narratives. So normally on the show we talk just about the news and some of the charts we're also going to be talking about what's happening in more of like the meme coin side of things in the meme market and some of these more momentum plays. So we brought in one of our specialists who focuses on that and we brought in another one of our analysts who is just heavily, you know, doven into the fundamental side of things as well. So we have a lot of different articles that we want to break down. We have a lot of things in store for all of you. And we say this ahead of time just so that you all can understand and expect what's to come here, because it's going to be a little bit of a longer episode because there's so much to go through. But I promise you it's going to be action packed. And I want everyone to make sure that you turn those phones on silent. You buckle up for this episode because it's going to be a big one. So real quick, before we begin, we're going to be talking about a lot of really sensitive data. And so I want to go through a quick series of disclaimers and disclosures before we get into that and before we introduce the team. So bear with me, everyone. Before we begin here, nothing that we say is financial or investment advice. We're not financial or investment advisors over here. And all the content is strictly educational in nature. Now, it should go without saying, but we have exposure to a bunch of different crypto assets and potentially even the ones that we're going to be talking about during this live session that we got going on right now. All the opinions here are strictly our own. They are not representations of any company. And the crypto market is extremely risky and volatile, which is why you should never be trying to trade or invest or risk more than you can afford to lose. And finally, be aware of scammers and impersonators. We're never going to be DMing you about investment opportunities and we're never going to be trying to send you to any kind of third party messaging app like Discord or WhatsApp or Telegram or anything like that. So stay safe, stay aware and buckle up, everyone, because it's going to be a big one. But TiVo is our leading super producer over here. TiVo. Go ahead and kick us off because we got just a ton to talk about.
- [06:26]
A
Yeah, a ton to talk about. And a ton of people are here. Good afternoon, everybody. If it's your first time hearing my voice and seeing my face, if you're from inside the community, Greetings. My name's TiVo. I'm the producer, so I handle all the media around the podcast, the YouTube and some stuff in the community. Like if you guys attended the, the Crypto Community Summit and the hedge fund summit that we put on this week, you know, that's all my kind of behind the scenes work. And that's why sadly Bryce isn't joining us today. He, he was there all three days, which I'm sure some of you were as well. That was a great event. But I kind of bring, if you're kind of people that listen to the podcast, obviously know who I am by now, but if you're new, basically what I do is I'm always combing through X, I'm combing through the news, I'm coming through the business television shows and I kind of put the show together that you guys are going to watch today called the Crypto Rundown and we do it every week and it's basically just going to give you all the high level breaking news, all the great stuff that you need to know. And it's a great add on to, to the awesome and deep diving information that Brendan gives you with technical analysis in the charts. Rohit gives you with his research every week with the newsletter and the team as they all pile in and create, you know, the coins of the week and the stuff that you read about each week. And then obviously Brian and Joe are our crypto Navy SEALs, aka the Momentum money makers. That's our full team here. And this is kind of a special episode where we're really bringing everybody together. Um, you have the YouTube community, the podcast community, and now the Crypt Nation community kind of all converging onto YouTube. So it should be exciting. But we've got a couple great guests here. We got Brian and Rohit. Brian, what's going on brother?
- [07:57]
C
What's up? Everyone happy to be here, Fired up. We're going to talk about meme coins, we're going to talk about NFTs. We're going to have a good time today.
- [08:05]
A
And Rohit, how are you my friend?
- [08:07]
D
I'm doing well. Yeah. I'm looking forward to talking about market cycles where we are in the cycle right now.
- [08:13]
A
Yeah, I think I, I saw Mrs. Mrs. C Lee ask already for a question about market cycles. So it's coming up, it's coming up at the end of the show. We got a lot of people in the chat. Optimus, we've got D. Jakes, we've got David, along with some of our faithful people that are here each week. Those are some new names that I Saw. So if anybody's new, before we jump right in, on the bottom right of your screen, you're going to see our Crypto 101 podcast logo. If you don't mind hitting that. That's going to help you subscribe, it's going to support the channel to help you keep bringing these free shows or, and then if you haven't yet, give the video a like and we're going to jump right into it. So I think the way we wanted to start off the show is I think that we can all agree from, from our team and just if you look at any chart like we're, we're in a bull market. It's been an awesome couple months. It's been a great, you know, year plus, especially the new year here. Obviously there's always going to be volatility, but we're in a bull market, guys. And I think the last 24 hours, the biggest thing that I've seen is a lot of, a lot of politic political jargon. But it's all geared towards the momentum of the crypto markets. We really don't try to get too political on the show, but when you are the most powerful country in the world and every, every powerful person in this administration of the most powerful country in the world seems to be talking about crypto, it's something that you should take note. So we're going to run through a couple clips here, a couple tweets, and then we're going to have the team kind of bounce around a discussion of where we are in the bull market and how we feel. This is a little bit different with the momentum from the administration that's clearly the President, United States kind of always has been giving his thumbs up to crypto. And then yesterday you had Treasury Secretary Scott Bessant, so he was on TV and he, he actually said the quote that we're, we're not looking to buy any bitcoin. And then the, the, the Twitter sphere got a hold of him and kind of made some noise and then he put out this tweet later in the day where the treasury is committed to explosion, exploring budget neutral pathways to acquire more bitcoin. Brendan, I'm going to toss this to you first because we literally talked about this a couple days ago on our other rundown episode where we were wondering, you know, what's the plan? Are they still working on it? We haven't heard them talk about it for a while and I think that's was the initial pop of, of the sentiment was so negative. When that TV clip him came out saying, they're not doing anything, and then sure enough, you know, four hours later, he has to tweet this out as a retraction because the, you know, the crypto part of the administration came knocking on his office.
- [10:33]
B
Yeah, you know, I think there's, there's two sides to this. There's this story where they came out and a lot of people had been hoping for this. They have this expectation of if we're going to be the crypto capital of the world, which is what they keep saying and flaunting. They're pushing this narrative that we are going to be by far the most crypto friendly crypto capital of the world. How can we say, say that and then say we're not going to actually accumulate these assets? All right, we have no accumulation plan. It seems a bit hypocritical. And so people were getting a little bit frustrated and they were kind of barking at them a little bit, saying, hey, like, let's accumulate these things. Let's put our money where our mouth is. And so that came out in the interview, and I think they realized that, and they were like, you know, hey, you know, you all are right. And people aren't asking for any kind of crazy thing. You know, they're not saying we need to buy a trillion dollars worth of bitcoin a year or anything absurd, but they're just saying, hey, give us something that we can kind of look forward to and something that shows that, you know, we really do want to get serious about crypto. And there's been a ton, and I mean, an absolute ton of work that has kind of gone towards the crypto industry. Lots of great adoption. And so people were looking at this, they barked, and crypto kind of showed like, hey, we have some sway now. We have some power now. And another example of that TiVo was we saw that happen with Google earlier this week, just about two days ago, where Google was talking about removing some crypto wallets and apps off the App Store. They got a ton of backlash instantly. And they said, okay, like, whoa. Like, we didn't know it had this much attention and power behind it. And they saw how many people were upset about it, and they said, hey, you know, we won't do it. We'll ease off of this thing. And so I think what we can tell from both of these situations is that the, you know, call it the crypto army, the crypto community, whatever you want to say, you know, the investors behind crypto now are growing in size but also like growing in power to like where we kind of have somewhat of a say behind this. And I think it also helps that the administration, the current administration, they do seem to genuinely care about the crypto market, at least through the actions and stuff that we've seen here in recent months. It's been really crypto friendly, you know, arguably not even arguably. I'd say it's by far the most crypto friendly adoption and regulation that we have seen in any presidency. So it's good to see that our voices are heard. And I think that's something that a lot of crypto investors and crypto traders felt like they missed in previous years is they didn't feel heard. And now all of a sudden they say something, the crypto industry responds. They say, hey, thanks for your input on this. Let's come to a happy medium we where we can kind of both win and have this win win situation.
- [13:20]
E
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- [13:50]
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- [14:20]
A
Yeah, the past with Gary Gensler and you know, we've had a lot of fun on the show with last year it was, you know, the fire Gary Gensler clips and all that. Now, now the SEC is pro crypto, right? So the next thing or the final thing, you know, politically was, you know, if we share, this is SEC chair Paul Atkins. This is literally this morning people, where Paul Atkins is saying, hey, you know, it was a longer quote of a TV hit that he did. But it's, we're mobilizing to make America the crypto capital of the world. So you know, compare that to where we were a year, two, three years ago with Gary Gensler. It's literally night and day. So Rohit, from your research and kind of diving into your expertise, you know, how have you seen the administration, you know, loosening up and really not even loosening is not the right word. It's really guiding the crypto legislation into the future. You know, is this the positive stuff, stuff that you're seeing in your research as well?
- [15:09]
D
Yeah, there's been so much between like the stablecoin legislation, especially with that because after bitcoin probably stablecoins are the strongest park market fit for crypto and that that could potentially like replace much of the back end for the financial system certainly for transfers of any kind. But yeah, not just that even. It sounds like more specific guidance by the sec, cftc. It's like it's all coming and it's, it is like you said, it is a nine day contrast with the previous administration which just did everything possible to kind of scuffle industry basically. Like it didn't put out clear guidelines. Is like regulation through prosecution. So it was, it's, it is a nine day difference. Yeah, yeah.
- [15:55]
A
And then Brian, anything to add on the discussion?
- [15:58]
C
Yeah, I think the Scopus news is interesting because it's almost a nothing burger in my eyes. We've known that for a while. That's, that's been mentioned quite a bit in the past. But what we do know is that the United States is, the current administration is taking steps to be so pro crypto. It's outstanding. So I'm a permeable in this market.
- [16:19]
B
I think a good, like you said it really well, Brian. It's a bit of a nothing burger in the sense that this isn't anything that we didn't already know and people have, I don't know if greedy is the right word. People have become, they've started asking for a little bit much and people haven't been satisfied. I think that with, with what we've seen so far and I think that this is such a big milestone that people should be at least in some sense pretty satisfied with all the progress that we've made and all the progress that we've seen so far. And people have kind of developed this mindset of like, well, we want all of our crypto to be tax free and, and it's like, well they never said they were going to do that. Well, we want a steady accumulation of bitcoin. Well again they never said that they were going to do that. We want this and that. And there's kind of just been some unrealistic expectations of like, the government should do this. We're expecting them to do this. But it's nothing that they've ever even, like, really talked about too much. There's been some discussion, I guess, around the idea of budget neutral ways to accumulate Bitcoin, but you. You really haven't seen anything too formal come out and say, we're going to do this or that. And people are kind of running with these more lofty ideas, and then they get upset when they don't come through. And it's like, well, they never really told us that we were getting those in the first place. And so I think people just in some sense, do need to be appreciative of all the progress that we've seen so far and all the stuff that's still going on. And also just understand, I mean, guys, we're eight months into this thing. You know, there's another three over almost three and a half years to go. There's a lot more that can and probably will be done. And I know everyone just wants instant gratification. That's what we're seeing a little bit right now. They want prices to be instantly up, which we have kind of seen, and we'll talk about that here in just a second. But they also want everything to happen in the first year, and that's just not realistic.
- [18:10]
A
Yeah, there's been so much great progress, and I think that's kind of a great segue into our next segment, which is going to be Brendan doing some technical analysis on the charts for us. But, you know, you can show us the price, price, action, all that stuff going way back. And I'm sure members, people that listen to the podcast, and then especially the members of Crypt Nation that have, you know, been riding along for a year, two, three years plus, have, you know, have seen the benefits of what it takes to, you know, again, I actually see it in the chat now, Mrs. C. Lee, saying, learn patience. It's not. It's not going to happen overnight. And we've got some new people. We've got Robert, we've got John. So it. I know that our community is really, really strong and we see it inside of the community so much, and that's why I think it's cool to kind of what we're doing today is converging them together. But again, just one quick ask if you guys are new here. On the bottom right of the screen, you'll see our logo. Give it a click. Give us a subscribe. Like the video as we just continue along. And like Brendan said, There's no instant gratification. But what do we say all the time, Brendan? Right. Zoom out and check out, check out these charts. So why don't you take it over?
- [19:08]
B
Certainly, yeah. I mean, like TiVo said, we do these every single week. So if you want to tune in, hit the subscribe button, join us. We have a bunch of these crypto rundowns and different market updates and stuff. So we definitely want all of you to tune into those as well. Well, but yeah, I mean, let's take a look here over on Bitcoin first. We always like to start high level, like TiVo said, zoom out, get the big picture first and then we zoom in from there and we focus in on a couple of different areas, altcoins and niches. But what we have here with bitcoin is that we just saw a brand new all time high. And this is something that, you know, we talked about internally and in some other places. But one of the big takeaways here is that bitcoin hit a new all time high and Ethereum tapped its all time high area. And the reason that we bring this up is because a lot of the major cryptos were at what we call all time high resistance. Right. So when you have a technical level like on the charts here, the all time high resistance level, especially when we've tapped it before, rejected it fell down, came back up. And we're retesting that previous high where we had rejected in the past. And we saw this on bitcoin, we saw this on Ethereum, and we've also seen this on what we call the total 2 and total 3 charts. Now the total 2 chart is just saying, hey, if we add together the entire market cap of crypto, excluding bitcoin, that's the total two. The total three is the exact same thing. It's the entire market cap of crypto, except excluding Bitcoin and Ethereum. So when we look at like these leading charts or these leading, you know, groups, those are the big dogs that we look at. Those are the market leaders. Bitcoin over here, again, like I said, tapping that all time high resistance level, we know that it's resistance over here. We saw a rejection of Bitcoin where it fell about 10% or almost $12,000 to the downside in just about three weeks time. You go over to Ethereum over in here, it's the same thing. We had tapped this 30 or this 4800 level all the way back in November of 2021 and we saw a big rejection up Here in the past. So when we have bitcoin and etherium pushing up in the all time high into their all time high resistance levels and we start to see a rejection, is that a bad thing? Is it anything unexpected? Absolutely not. Like this is a very historical technical level and it's a textbook move to see us respect resistance as resistance and we see a little bit of a sell off at it. So when I'm looking at this, I'm not panicking up here, I'm not freaking out. If anything, it should have been expected. And I was talking to one of our groups internally here the other day, which I think some of you in the chat box were probably in there on Monday when we are talking about this. And I was just saying, hey guys, exercise caution up here. If we break through, we're in price discovery mode. There is so much upside that can be had. There's a ton of volatility. However, we're approaching all time high resistance. Be careful of a pullback before then. And that was one of the big things. And so I'm looking at this, it's not anything unexpected, it's not anything that I'm fearing. And the truth of the matter here is that I think that, hey, as we pull back, we're going to do what we kind of call like a slip dip in a rip where we slip a little bit to the downside, we dip through that slip and then we rip afterwards. And the realistic price targets for both Bitcoin and Ethereum and a lot of these different altcoins is that we probably pull back to our previous highs, previous consolidation areas, or some of the main moving averages, like the 20 day moving average, which is the blue line, the 50 day moving average, which is the pink line, and maybe even on some of These altcoins, the 200 day moving average, which is the yellow line. But bitcoin and Ethereum are far away from those. And I don't think those are going to be retested anytime soon. But on bitcoin over here, you know, we're kind of coming back down into this and we can already see that, hey, we broke out of the highs on bitcoin and we can see this very, very clearly on the weekly chart as we zoom out over here. This has been the reoccurring trend since 2022 and this has just been again nonstop. And I want to paint this picture clearly for everyone that's watching because we saw over here, hey, bitcoin struggled up here. It hit the high, rejected, hit the high, rejected on price. But what did we do? Well, we did this thing called a break hook and go where we broke through resistance, retested it as support and then the go which is the continuation to the upside. So we are testing our previous highs as our newfound lows and support and then we continue to the upside. So we saw this happen at the reversal moment, going up a little bit higher. We consolidated for a little bit here, saw the breakthrough of this resistance, the retest as support right in here. And then more continuation to the upside. What we zoom out next, consolidation range. We see the same thing. We are using this area right around 75k as resistance. We break through it, we retested as support, we continue to the upside afterwards. Now it's nothing new. You know, here we are a couple of years later still doing the same thing. We are breaking through resistance and what do you know, we are now consolidating above this area support. So what I would be looking for moving forward on bitcoin is kind of the market leader is hey, as we come into this area around the previous all time highs around maybe 110k, we probably start finding some support in there. We have the 20 day moving average at 100 and it's shorter and a little bit weaker. We have the 50 day moving average at 115,000. That's going to be a little bit of a stronger support. And then we have lots of support as we come back down towards 112 and that previous all time high area on bitcoin. Now the same kind of thing goes and the same lesson goes for things like the total 2 and the total 3 charts. We can zoom out on here and see, hey, we approached all time highs, we tapped it, saw a little bit of rejection on that total two chart that I said. You can go to the total three chart. As I mentioned earlier, very, very similar story over here on both the total two and excuse me, the total three as well. So if we pull this up, this is going to show us a very, very similar story where we're coming up to these all time highs, we're tapping it and seeing some resistance. Ethereum has the same story as we kind of showed already a little bit earlier we came up, we tapped the all time high and now as we're coming back down here, I want to see a retest of some of these previous consolidation ranges. Some of the moving averages, maybe that means we dip a little bit more. But I think any kind of dips that we do get here are going to be presenting just Fantastic potential buying opportunities to potentially buy the dip at. So when I'm looking at this, you know, am I going to sell everything off and be scared up here? Absolutely not. You know, on quite the contrary, I'm actually looking at where can I get long, where can I be buying the dip? Because I think it's only a matter of time until we see new all time highs on both bitcoin and eth. And, you know, before I pass it back to the guys, sorry, there's so much to talk about. You know, one of the really interesting things here is like, people have asked us, you know, is the market cycle done? And there's two data points that I want to just briefly look at. And we always see the bitcoin dominance go up and down to the same places just about every market cycle. So we see bitcoin front run the market. It moves ahead of all the altcoins. Bitcoin dominance rises to around 70% and then it falls down to around 40%. And that's when altcoin season happens. We saw this happen in 2017, we saw this happen in 2021 before it fell. And this is where we're at right now. Bitcoin dominance is just at around 60%. It is nowhere near 40%. We topped out at around, I think it was 66, 67%. So just below the norm. But I think that's mainly because of how much the altcoin industry has matured. And so this would say, hey, there's probably more room to go and more time to run in the market. The other thing I'd use to measure this is I'd go over to a bitcoin chart, I would pull up a monthly chart and I would go to the monthly rsi. And what we can do on here is, you know, even if you're brand new to charting, you can look at this and say, well, you know, where does the crypto market typically top out at and where and when does it typically bottom out at? Now again, you don't have to be any kind of a technical guru to look at this chart and say, well, you know, going all the way back to 2011, or, yeah, 2011, we can see that, well, we top out up here and we bottom out down here. And when we top out and bottom out and top out and bottom out and top out and bottom out, and it's in this exact same spot every single time, right? We bottom out at around 40 on the monthly RSI, we top out at around 90, and it's nothing too Crazy. And so if we're looking at this chart, so and we're saying, well, is the market cycle done? This would say no, you know, we have not come and who knows, maybe this is the one time that it fails. But since bitcoin's inception, this has always worked and it has always been proven true. It doesn't mean it's guaranteed this time. But as someone who has used this time and time again cycle after cycle, I'm looking at this and the data is just saying the market top isn't in. And I know people are going to say, well you know Brendan, what about a year and a half after the halving, we're still not even at that point yet and we're not quite there. We're starting to get a little bit closer. But you know, altcoins are firing. Bitcoin dominance would say that there's more room to run. And a lot of these altcoins are still, you know, really pushing and we're seeing a lot of upside from them. You know, you look at aerodrome which has been running here just non stop hitting a new high this morning. I know in recent months we've looked at things like Pengu, which Brian and Joe have put on our radar and talked a lot about this thing shooting up over 1000%, hitting new highs. Euler is one that Rohit put me on which has been running, you know, hundreds and hundreds of percent since the start of this year. And a lot of altcoins are extremely high. In fact, I would say most are. Which is why we see like the total two and the total three and a lot of these other altcoin charts at all time highs is because they are getting so much love and attention. And you know, final point, I keep adding on, sorry guys, I'm cheating. Final point here is like a lot of large caps are at all time highs too. XRP hit a new all time high. Bnb which is on here somewhere. This thing hit a new all time high. You can go over to Tron, this thing hit a new all time high. Had a little bit of a crazy wick but this cycle, this thing's hit a new all time high. Like a lot of these different altcoins are just all time highs galore left and right. So I say all this because there's a lot of stuff to pay attention to. There's a lot of stuff to look at in the charts and yeah, if you can't tell, I'm a little excited about it all because I think that there's still A lot of good to look forward to.
- [30:11]
A
Absolutely, man. You crushed it. Thank you for sharing all that. I learned something new every time. I really like the I really RSI kind of. That zoom out of RSI was fascinating and that was an awesome segment and just for everybody listening. Again, we appreciate you. We do this all for free. But if that segment with Brendan was something that you really enjoyed and really thought interesting, especially around the technical analysis and charting. If you scroll down the description of our YouTube video, we just have a couple links there if you're interested in getting more involved in the community. And I have a link there, it's 1, 2, 3, 4. It's the fourth link down there is the mass of the charts in just six weeks. And it's something that you can do with Brendan. It's his trading course and you get access to Brendan plus coaching calls and all that. So if you're more interested in learning how to do technical analysis like Brendan can check out that link below as we move on. But Rohit, I want to bring it to you, he kind of ended on that total two and market caps and altcoins are popping off. And you obviously gave a great call with, with Euler. You know, are you an altcoin season believer? Because let me show you this, Rohit. Coinbase Institutional. We all know Coinbase Coinbase Institutional is literally calling for alt season. September approaches. The transition to a full scale alt season is likely. Now they didn't quite put the disclaimer there but I'm sure their lawyer would like them to say that's not personal financial advice for anybody. But they're not the only one. We got CME Group. The catchphrase altcoin season is gaining significant traction. So you know, I know Brian specifically we're going to come to you next. You live in the trenches. You live in the altcoin meme coin markets. But Rohit, from your research is the altcoin season, are the bubbles coming? Can you feel the momentum for an altcoin season?
- [31:49]
D
For sure. I think we'll get into it more when I do the part on cycles but for me like altcoin season technically starts when ETH is the strongest token and I think we're actually there like it's already started to happen. We haven't hit new all time highs yet but I think we got within I think 4% and it's, I think it's going to happen within weeks. I would say. So yeah, I think technically we are, we are in altcoin season and like I Said I'll go into more detail on that later. There's like a specific, like in the past, say two to three cycles has been like a specific sequence of events. But I would say we're an all coincident.
- [32:24]
A
I like that. I mean as a producer you have to love, you have to love one of your hosts. Teasing a segment coming up later and sticking to the script. Brian, what are you seeing in the, in the, the meme coin market? I know we've had a couple meme coin rundowns and have gotten quite a little rowdy over the last month. Six weeks with some absolute fun, some winners. So, so I, I, I bias. I know where, where you are. But, but tell the people. What do you see in, in, in the, the altcoin meme coin market?
- [32:49]
C
Yeah, sure. Some of these meme coins are absolutely fire right now, popping off in ways that we, we just dream about when we think about meme coins and just huge gains of course, when we will pull back in some of the majors, the bitcoins, the Ethereums of the world, you can see a little bit tighter pullback in these meme coins. But I'm, I'm, if we have a true alt season, which I'm a huge believer in, I think that's coming very soon. Love to hear what Rohit saying about it. I think meme coins are going to fire hard and I do have some of my favorites out there and I think they're going to do very well.
- [33:21]
A
Yeah. And I think basically what he, Rohit touched on is kind of Ethereum leads the way and that's the perfect transition into the next phase of our discussion. Ethereum basically has definitely had the leadership on a larger scale and just the momentum has been crazy and we've covered it on the rundown. So this might be a little repetitive. If you listen to week to week, we've been, you know, huge proponents of, of tracking this Ethereum trade. We've been talking about it, we've been charting it and then we've even brought in these Ethereum treasury companies which have been absolutely going, you know, bananas. And so for those who are new, kind of just to give them a little bit of a flavor, I do have a couple clips here. So it's podcast favorite Tom Lee, who again is kind of the, he's now the Michael Saylor, if you will, the Michael Saylor of the Ethereum treasury strategy. So I have two clips here. I'm going to play about a minute or so of this one and then a second1 this one he's talking about kind of an end of year price target and why he's bullish on bmr. So let's check that one out first. You up and I'm going to share a second 30 minute clip here. So that tees you up on his thesis, right? Ethereum, the merging of Tradfi and Defi and using stable coins. He's a big believer in it and you know, he's throwing out a ton of price targets. Honestly over the last two months they've ranged from 7500 to 10k in ETH by the end of the year. And this, this was the most bullish thing I could find in poll. So it's the last 30 second clip where he discussed the possibility of Ethereum flipping bitcoin. And I. So it's really just one of those things that you gotta hear. So obviously that's a little age. We've blown through that 4000 as we continue upwards and like I said, his price targets have gone from 75 to 10k guys eth flipping bitcoin. I don't necessarily need the hot take on that. The one thing I will point out is if a guy, if you see that the guy is in the office and you're on a zoom with them and you can see the office in the back left and then you also see that that same man working hard has a bed in the right corner of his office. I mean you at least got to take, you at least got to take what he says, you know, a little bit seriously because he's most certainly putting in the hours.
- [35:22]
B
Yeah, I mean, listen, I think anyone who's a reoccurring member of the rundowns, you know that me and TiVo, we like Tom Lee, I definitely look up to him. I think he's an incredibly knowledgeable and obviously successful individual. So, you know, maybe we're a little bit biased, but yeah, I mean if you have a bed in your office. I don't even have a bed in my office, you know. Right. You know, we all work from home and we don't even technically have a bed in our office, but it's a whole new kind of commitment.
- [35:47]
A
Yeah. And there's all those clips. I've said it before but you know, back When Bitcoin was 2, 3, 4,000, there's clips on him on national television, on all the business channels, basically saying, hey, we should, we should be putting 1% of our portfolios in bitcoin. And he would get basically, I don't even know, laughed at was the right words. There were people that would try to lecture him and tell him that, you know, he was, he wasn't being safe, he was leading down the people of a wrong path and people shouldn't listen to him and he's crazy. It was, it was, it was more than just being laughed at. It was, it was scrutinized. He was truly scrutinized and he threw out that hundred thousand dollar price target back then. So, you know, again, the vindication of being right. But also when somebody has that type of success, you don't need to follow them blindly. I don't think any of us follow any one person blindly. That's why at Crip Nation we have a whole entire team because we're getting, you know, all of our, you know, research and stuff and conversations and guidance from, from each other and working together as a unit. And I think that's, you know, one of the benefits to being a part of Crip Nation. But the. You gotta at least listen to him. He deserves to be listened to.
- [36:52]
C
Sign me up for that 100x on Ethereum.
- [36:55]
A
Yeah, I think anybody, Anybody starting to lean? Are you leaning, are you leaning for an eth Bitcoin flip or is it too, too early for those discussions for you?
- [37:05]
C
That might be a little aggressive but you know, I have exposure to both. So I wouldn't be upset if that happened. When we talk about Bitcoin Ethereum, a little bit bitcoin biased, but I love me some Ethereum for a lot of different reasons. With their correlation with NFTs and meme coins and obviously have exposure to both. It would be, it wouldn't surprise me, especially with all the stablecoin legislation we have right now and a lot of, you know, where there's smoke, there's fire.
- [37:33]
A
Yeah. And then. Rohit, just. Any thoughts on Ethereum? Are you bullish on kind of the Ethereum inflows or. Sorry, the Ethereum ETF inflows. You know, what's your thought behind? Obviously it's narrative driven, but also, you know, the fundamentals of it.
- [37:47]
D
Yeah. Like if you look at the supply and Demand, the ETH ETFs and the public treasury companies already own 8% of the total Ethereum supply, which is kind of crazy to think about.
- [37:58]
B
Do you say 8%?
- [38:00]
D
Yeah, 8% is what the number I saw.
- [38:02]
B
Holy cow.
- [38:03]
D
And then kind of bit miner immersion. If they do have another raise, another $20 billion. That by itself is like just by itself, that one raised by one company is two and a half percent of the supply. So it's like to the extent there's not a ton of supply being offered and like there's pretty strong demand like that, you, you, it's not hard to imagine what that will do to the price.
- [38:28]
B
Yeah, certainly.
- [38:30]
A
So then the next thing kind of I wanted to transition before we dive into Brian's topics was the narrative around it. Right. Obviously Ethereum has the narrative. It's been, you know, the treasury companies and the price action. But not, not too long ago, if we go back to, you know, the end of the year of 24 and then obviously January, it felt like Solana kind of had that same narrative. There was the wild meme coin craze. We had Fart Coin, we had Dave Portnoy doing Greed one, Greed two, Greed three, all that, all that fun stuff which kind of, you know, got, got Solana on its horse. And Solana has these ETFs that are in the pipeline as well. I'm going to pull this up from friend of the program, James Safart. He said, you know, all these Ethereum ETFs got delays. I guess this was end of day yesterday. But, but he basically said he suspects we won't see too many more of these. And this is our Bloomberg Intelligence guy. He's been on our podcast before. You know, when James says these things, he basically feels like these are, these are close to getting pushed through. So my kind of question to the group that I'd love to kick around and there's no right answer. Brendan, let's start with you is kind of that, that narrative flip saw from Solana now to Ethereum. Ethereum's the bell of the ball, if you will. You know, once these Solana ETFs get pushed, you know, what are your thoughts on trying to figure out the fundamentals of plus the narrative around kind of these two, if you will call them blue chip altcoins. What, what are your thoughts around it?
- [39:57]
B
Yeah, you know, we've seen this back and forth between Solana and Ethereum for about a year or two now. And it's interesting because Solana has certainly been able to increase its market share. Towards the end of last year, start of this year, Solana was everything. That's all people wanted to talk about. It was all the hype. It hit the new all time high well before Ethereum did. And there's a lot of attention. In fact, you know, even in the current day, when you look at where Solana is and what it's doing and what Ethereum is doing, they really are almost specializing in two different things for two different markets. And I think that there's a very high likelihood that the two coexist together. When you look at Solana, people always like to tout, oh, they have more activity, they're doing more transactions there every day. They see more wallet activity, this and that. And then you go and you look at Ethereum and you can say, well, Ethereum has more developers, they have better developer stuff. You could go and say, hey, they have a higher TVL over at Etherium. And you can say some of these other things. You can say, hey, it's more decentralized. And you can talk about nodes and other things like that. Right. And so when it comes to Solana, you know, I'd say, hey, like when it comes to memes, things are a little bit more personal, things that are more retail focused. Even when it comes to Deepin, Solana kind of takes the win. You know, they're definitely more scalable too. And when it comes to Ethereum, I think that they favor institutional stuff a little bit more. They are a little bit more reputable and they have a lot of The DeFi and RWA and Tokenization Market share in that side of things. And so we've seen this back and forth between the two. Now all of a sudden, you know, there's all this news about Ethereum and it's way more hot than Solana is, but they're. I think they're both good and there's a place for both of these and kind of just the natural stage of a market cycle is that you go from one thing to the next. And, you know, we'll probably have a point in time where all of a sudden everyone's talking about Solana over Ethereum and then we're going to be talking about Bitcoin over both of them, and then we're going to be talking about the next thing over those. And it kind of goes full circle is what I'm trying to say. So we see a lot of people come out, they're excited, they have every reason to do so. But at least here on the program, you know, we're not Maxis. We don't believe in just Bitcoin, just Ethereum, just Solana, just xrp. We think that, you know, the bulk of the crypto industry can and likely will succeed together, and they can serve different purposes, be used by different people and so on and so forth.
- [42:21]
A
Yeah, it's a great point. And then, Rohit, just your thoughts on kind of the narratives and how you look at them.
- [42:26]
D
Yeah, Like, I agree with what Brennan said. I think there's enough space for several L1s to have a lot of activity, especially with bridging and interoperability. Eventually it's not going to matter what underlying chain you're on. I think consumers aren't. Maybe, maybe it'll just all be abstracted away. Ideally, that would be the case because, like, when people use the Internet now, they don't. They're not familiar with a lot of the underlying technology that's involved. And ideally, that would be the case even with Web3. Everything would just happen seamlessly under the hood. So, yeah, I agree with Brendan. There's opportunity for several different L1s to see activity and have a strong ecosystems.
- [43:03]
C
Yeah.
- [43:04]
A
And then totally, you know, and my final tie on everything is, you see, these narratives change, you know, every quarter, every couple months, you know, at least every half a year, somebody becomes the bell of the ball. It could be a meme coin, it could be, you know, an L1, an L2, what. You know, it's just, and that's kind of the, the part of why we've been doing these weekly and now bi weekly or sometimes two to three times a week, because the news flow and everything's changing so fast. We went from doing these once a week to now we can do them two or three times a week. And they're, they're still coming out an hour, you know, long, because there's so much news flow to consume. But speaking of under the hood there, Rohit, I, I was looking under the hood and I saw that this rock sold for a bunch of money. And then I was like, well, I got to see what Brian's talking about. Like, Brian, what do you eth rock going? You know, going for hundreds of thousands of dollars. What's. What's going on with Ethrock?
- [43:56]
C
Yeah, Ethrock is an Ethereum NFT launched in, I think, December of 2017. Kind of an OG collection out there. And it sold for 600 grand today, so feels pretty free, if you ask me. Anybody that's going to fire in half a million into an nft. But you can just, you can see there can be some capital that flows into NFTs, especially some of these older, very OG collections. So this was a surprise to wake up to.
- [44:24]
A
Yeah. And it basically just tees off the, the conversation that you're going to lead here as our, you know, momentum moneymaker. And guys, just, just to tee up Brian and Brian and Joe. Joe's not here today, but you know, these, these guys are literally in the trenches and they're digging up, they're looking, you know, underneath the hood. The, the stuff that, you know, the average person doesn't know about. The average person's probably not trading. They go and find these things, they find the narratives, they find the fundamentals and these things rocket. I mean, you guys have had some unbelievable calls and so basically we have a list of stuff that we're going through here. But Brian, you just tell me where you want to take it and I'd love for you to lead your segment here. Do we want to start with Moonbirds?
- [45:06]
C
Yeah, I think you guys did a rundown show recently and somebody was asking about Moonbirds and they've absolutely popped off for a little bit of history. Behind Moonbirds was a Kevin Rose project got by, bought, bought by Yuga Labs, who are the bored ape people. And then it recently was acquired again by an individual named Spencer, a very prominent NFT trader. And he's really putting some, he's backing behind these NFTs. So these were well under an ETH in June and they've run up all the way over three Ethereum, so over 12, $15,000. And we're seeing some action in some, not so much like newer mints every single day, but some of these OG Ethereum NFTs out there. And what's really interesting is Ethereum goes up. These NFTs can go up as well in the, in the amount of Ethereum. So it's almost a double whammy. So you're getting price action in the price of Ethereum appreciation. Appreciating. And then these NFTs are also going up as well. So whoever asked about Moonbirds, I'm obviously, I'm a big fan. I got a little moonbird portrait back there one of my artist friends made for me. I'm a holder, so not financial advice, but they've been doing some big things and they're trying to play the same playbook. If everyone knows of Pudgy penguins. Pudgy Penguins is one of the most prominent, well known NFTs out there. And they had a token drop recently, what, a few months back where actually one big pudgy got, if you held their NFT got you about $80,000 worth of their Pengu token. And a lot of people ask, well, how's that possible? Well, if we've seen some big news out there, TiVo, maybe pull up the ETF filing that we had. Penguin and Pudgy Penguins get filed by Canary Capital here for a possible etf. So it'd be the first of its kind where Meme coin nfts are actually connected to an etf.
- [47:06]
A
Yeah. And then just a note for. For all the viewers, we actually, you know, if you haven't checked out the podcast, make sure you check out Crypto 101 podcast. You can check it out on the YouTube again. That, bottom right is where you can subscribe. So please click that and subscribe. But also, if you want to listen to the audio version, we have it on Spotify, Apple, and recently, I believe last week, we just put out an episode with the CEO of Canary Capital that Bryce and Brendan did, and it was fascinating. Obviously, a larger conversation about 45, but I'd say a solid 15 to 20 of that was about specifically Penguin, the ETF, and just a deep dive onto kind of pudgy penguins and why, you know, the CEO of Canary Capital is, you know, more bullish on them than just a, you know, picture digital art of a penguin. I mean, that guy went into some deep dive on ip. And, you know, why? He literally chose to make sure the push for this ETF was going. It was really a fascinating conversation to check out. You know, I thought, you know, I thought of you the whole time, Brian. I was like, God, man. We went from Brian and Joe to, you know, pitching Pudgy Penguin months ago to now there's an ETF of this thing. It's like, what a crazy ride.
- [48:13]
C
Yeah. I mean, Penguin's evolved into a meme coin 2.0, to be honest with you. It's not just a Meme Coin anymore. It's an identity. They have major partnerships out there. They're filing ETFs, they're ringing the NASDAQ bell. They even have an upcoming blockchain called Abstract Blockchain releasing. Well, the blockchain's out there, so you can do a lot of different farming. You can explore that blockchain, and it's done very, very well with attracting new people to the space. But one very interesting thing about it is that their TGE, their token generation event, is actually coming up in Q4, so it's starting to pick up a lot of steam. There's a lot of Meme coins that Joe and I talk about every single week within our community that we really like on Abstract, because as you trade Meme coins on that platform, you actually earn something called xp, which will get you rewards for their Token Generation event. So really interesting stuff coming out there. And then I want to jump over and I want to Talk a little bit about Rec coin. We've talked about Rekt quite a bit. TiVo, you're a big Rekt fan. Joe's a big Rekt fan. We call that 15, 20 million dollar market cap in our community months ago and now trading about 450 million dollar market cap. As you can see, kind of the famous Flywheel. So it's not just a meme coin. It was an NFT that developed, evolved into a meme coin and now it's Wrecked brands where they're selling actual drinks in 7/11. The goal is to sell 1 million drinks this calendar year. And they're well on their way. I think they're over 700,000 soldiers.
- [49:54]
A
Yeah, I remember kind of the whole journey of the wrecked. You guys brought it on. I remember you guys ordered the drinks and Joe was super excited about getting the drinks and it was, you know, a call inside your community and then just, you know, look, you know, a month, six months or six weeks later and then boom, like all time highs. And it keeps going. They keep announcing partnerships, right? I saw they what, they announced a partnership with Base and the Coinbase team for, for more beverages. And it's kind of that same thesis. I think the Flywheel is a little bit different, I guess than the Pudgy Penguins, but like you're basically kind of getting away. Like you said, there's a new, there's a new genesis of meme coins where these caterpillars have cocooned and now are turning into these beautiful butterflies where, where these, these I don't even know what. They're not necessarily companies. Maybe they are, but like these coins, these projects are reinvesting back into themselves, back into the holders. Like, I don't know if anybody's ever listened to Luca Nets, the guy that started Pudgy Penguins, but you catch one of his interviews. I mean, it's hard to not root for the project because he just kind of reminds me of. I think we talked about this before. I don't know if anybody follows Banana, the Savannah Bananas, but he reminds me of like Yellow Tux Jesse. It's like it's not about the business, it's about the holders and the people in the community. And I feel like Luca Netz has a, has that vibe as well along with it seems the rec team just kind of, you know, building something. They're trying to build something instead of these, you know, the greed ones of the greed twos of what Dave Portnoy was doing, which are just like quick flips. There's Something, you know, tangible behind it, which is awesome.
- [51:26]
C
And they're rewarding their community in so many different ways. If you actually buy a case of their rec drinks, you get their rec token and you can earn hundreds of dollars for every case of rec drinks you purchase.
- [51:39]
A
Yeah, that's awesome. And then what, what was the. Basically, before we go to your Tabeer call there, this Anime Azuki, I guess it's kind of the same thing where it's. It's not just meme coiners anymore. Like Tradfi is diving into this stuff.
- [51:52]
C
Yeah, I mean that was really interesting. Anime is the token that's connected to the Azuki NFTs. And they made a very interesting announcement just the other day where a NASDAQ listed digital media company is actually buying $2.5 million worth of their token. They're going to build out their ip. They're connected to gaming companies so you can just see they're trying to do what wrecked what Pudgy Penguins has done in the past. So I thought that was a really interesting call out to bring to the show for everyone. It's not financial advice to go out there and buy this anime token. They, they have a long way to go to become the next Pengu. But you can see this is kind of the new meta we're seeing with these meme coins and with a lot of these NFT companies.
- [52:36]
A
Yeah. And it's all fascinating. That's kind of why, you know, we go to you and Joe for those specific things. So give us. I know we always kind of ask to check back and you know, Pengu, we've tracked and wrecked drinks we've tracked. But you brought us today something that you've made a call of recently that kind of came to fruition.
- [52:54]
B
Yeah.
- [52:55]
C
This is just a token that I'm a big fan of. Just full disclosure, I do own some of this token. It's called Tibber. It's connected to Ribbit Capital or the actual founder of Ribbit Capital or was speculated when we made the call, was speculated to be connected to him. And it's Mickey Malki, he's the founder. This is a venture capital firm, $12 billion powerhouse that's backed over 30 different crypto unicorn companies, including Coinbase. And it's just a really interesting token if you ask me. As you can tell, it's Ribbit Capital. Tibber is Ribbit backwards. But this was a stealth launch in January. It's absolutely popped off. I wouldn't even know how to approach doing TA on this chart because it Feels like it's just up only really impressive stuff.
- [53:45]
A
And when, when did you give the call? You said May in May.
- [53:49]
C
It was about $70 million market cap. And there was rumblings, you know, kind of in the trenches that this was connected to Mickey Malka, who was the founder that was connected to Ribbit Capital. You look at the title, it's Ribbit backwards, but no actual confirmation of this. And something that's really interesting is it's actually connected to an AI agent as well. We love AI in this world. And that AI agent actually went out on its own and bought a CryptoPunk. CryptoPunks hit over $200,000 recently, but the AI agent went out and purchased its own cryptopunk, wanted to create its own digital identity. And that's exactly what it did. So it's a really unique project. Wanted to call it out. This is kind of the type of projects we try to, you know, look into on momentum money makers that have, you know, you just want to connect the dots and hope for the best.
- [54:42]
A
No, it was a great call. And speaking of connecting the dots, credit to me for taking Brendan's TA course because look at me, I kind of know what I'm doing. Again, this isn't an exact date, but if we use the measurement tool Brendan, which you taught me, and we drag it up to the top here, I mean, we're talking about about a 5, you know, 530 gain since mid. Mid May there, Brian. So that's the type of stuff that Brian and Joe are doing in their community. And again, same thing. If you're interested in learning more about Brian and Joe and getting the calls like he just showed you early. If you guys go down the description and you click show more again, I got a couple links for you. This One is the 1, 2, 3, the. The. We got 1, 2, 3. The fourth, the third link. 1, 2, 3, third link down there we've got the get immediate access to the meme coin portfolio and trade alerts. It's just one dollar. It's basically a dollar trial. If you're interested in checking out Brian and Joe and getting more info on how you can get those type of calls and be a part of that community. It is super fun. But I guess transitioning on, we do have Rohit. So Rohit, your section has. We saved the best for last because literally it was the number one thing in the chat box. People wanted cycles. They want to know where we are. Where are we, Rohit? Where are we going? So I'm going to hand you off the reins. I'm your producer. You tell me when you want me to pull up your charts or if you want to do kind of an introduction to talking about cycles and then we can kind of open it up to the group and discuss.
- [56:06]
D
Yeah. So typically with cycles, at least historically, like if you look at the past three cycles, say they've been four stages. Like usually there's like one year of a sharp bear market downturn, there's a year of going essentially sideways, another 30 year of going up a bit and then kind of a much more like pitched fee rich bull market in the fourth year. And there's no guarantee that things repeat exactly like that. But I, my sense is that template will still roughly apply. So it's interesting because like even in that fourth stage where you have a very strong kind of feverish bull market, there's usually a certain sequence of assets that rise most strongly. So you usually bitcoin leads the way initially and then after that ETH takes over. After that it's usually large cap tokens and then finally like in the most fevered stage, it's like mid, small mid cap tokens and then usually there's like a bear market after that. So yeah, like if you bring up some of the visuals we could even look at. Oh yeah. So yeah, this just shows you the red is like the bear market. You can see the blue sections are the, essentially sideways up a bit. The green they call it, they're calling, the growth phase is up gently and then you have like a, a bubble or a very strong bull market. And my sense is we're in that final phase now. You usually six to 18 months, like that one year period after a bitcoin halving is the strongest period of a bull market. So we're in that now. Typically if this were to hold like the peak would be later this year. It's always hard to put like a precise date on it, but say in past cycles it's usually been November, December and then usually altcoins have peaked about a month after bitcoin did. If you go down just one more. Yeah, you can, you can see we're, we're lagging a little bit this time, but we're kind of set to catch up. And as bitcoin matures as an asset class, there's not going to be of course quite as much upside and there's going to be less volatility. So one thing that threw off this cycle was the bitcoin etf. It led to a high in bitcoin like much earlier than is usual. So like I might have said already, but that there's that saying history doesn't repeat, but it rhymes. So like you could get like a rough four year cycle, but it is also possible with bitcoin in particular that it floats up a bit more that the bear market when it comes is much shallower just because there's so much institutional capital pouring in. Now let's see what's the, let's see what the next visualize. Oh yeah. The other thing is, apart from the cycles, it's maybe been a happy coincidence, but during the strongest part of the bull markets in the past, it's usually coincided with a significant increase in the M2 money supply globally. So I think basically with the M2 money supply, if you shift it three months over, there's almost a 0.7 correlation between Bitcoin's price and that global supply. You can see where that would put bitcoin. I think that's. What would that be? Probably like 170ish thousand since it's a law graph. Maybe a little bit more. Yeah. So that's pretty, pretty bullish. More than inflation, bitcoin seems to be most correlated with the money supply.
- [60:05]
A
Yeah, we've, we've covered the money supply. I know Brendan and I have covered it for definitely the last six weeks. And we always, you know, we always say like, you know, this is something that a lot of people, especially on the Twitter timeline, a lot of people love it and call for it as soon as they see it. And a lot of people think it's fugazi. Fugazi. And, but honestly the, the M2 bulls have been, have been quite right as this chart shows.
- [60:27]
D
Yeah. Because I think all assets are sensitive to liquidity, but crypto especially is.
- [60:37]
A
Awesome. And then we got one more here. Is this kind of like a top signal of crypto apps? Is that where this is going when you see the apps go up?
- [60:45]
D
Yeah. So the green line tracks where Coinbase's app is ranked in the App Store and typically when the market peaks, it's the number one app. I think currently it was in that chart, it's 15. We didn't include Robinhood, but usually Robinhood's is second. I think it's 17 now. So it's like things are moving in the right direction though we haven't gotten to that peak frenzy. And then the last chart at the bottom is the Google search popularity. So usually when bitcoin tops it's somewhere between 50 and 100 in terms of maximum Search popularity and we haven't quite gotten there yet either. So like those are all just completely different signals of where we might be in the cycle, where we're heading and also kind of metrics to track for potentially when we are near or at a top.
- [61:43]
A
Awesome. Yeah. And this is, this is all stuff that kind of goes into your research and you bringing into the community and the VIP coaching calls and the newsletters. So as, as we kind of to the last segment, everybody that's tuning in, man, we still got over a hundred people live. That's awesome. We're gonna do some questions. So if you guys want to toss some questions into the side chat there on the right, we'll get to a couple of them before we sign off. And then obviously if you enjoyed that, enjoyed Rohit's charts and his research. Again, we kind of have the Crypt Nation community and I put a link down there if it's something you guys want to check out so you can kind of get that weekly touch base with the team, get the research, get the newsletter, maybe look into joining our coaching calls where you get access to these guys, you know, weekly and kind again, take that next step, that next level to your crypto journey. Again, if you go down the description, I got some links there. I made sure that this one was the first link on top. Get immediate access to the crypto perform for just a dollar and you're going to learn more about joining the community. So appreciate you guys. Again, drop some questions in there as we end, look to end this. But Brendan, thoughts, thoughts on the cycle, Thoughts on where we are before we answer some questions.
- [62:48]
B
Yeah, well, I saw one question come in and it said, do we think that a lot of the information that we talked about the adoption, all the positives, do we think that that can extend the cycle? Because, you know, as we chatted about, you know, we typically see these top out around a year, year and a half after the having event. And I just wanted to echo in and kind of come in and talk about this a little bit more and say I, I do think it has the potential to. Right. And I'm hesitant to say this time's going to be different because of all this. Because every single cycle everyone's always said it's going to be different this time. And so far it hasn't. I think if there's any time for it, I think the best case is this time. Right. Because when you have sovereign wealth funds and countries and endowments and retirement funds and Fortune 500 companies and the ETFs and banks and you have these Treasuries and all these. And on top of that you have retail. When you have all that happening, I think it does make sense, the strongest argument for things to extend in a bullish way and see more upside. The other thing that I think a lot of people have looked over and I should have pulled up this information for us, but I think that we have the potential to extend because the supply shock is real. And if you go and you look at the Ethereum and Bitcoin reserves on exchanges, they've been in freefall for a while. And what that means is that the supply of Bitcoin and Ethereum specifically on exchanges and even in the OTC markets, I've seen charts of, of that they're dwindling, like they're drying up. And so there's less and less that are going, that are available and that are going to be available. And there's increasing demand as we've seen. I mean, last month for instance, I think there was over $5 billion in net inflows. We had a single day of the Ethereum ETFs which did, which did over a billion in inflows. It was the highest that it's ever seen. And so there's very clearly more demand and there's increasingly less supply. And the thing about Ethereum and I guess the part that makes it a little bit different from Bitcoin supply squeeze is, you know, Bitcoin has the halving which is making it increasingly harder to mine. Ethereum has a little bit of a different consensus mechanism. And for a long time, for a period of years, Ethereum was deflationary. And the more activity and the more attention that it sees, the more is being burned through one of their protocol updates. And so the more activity, and I haven't looked at this data point lately, but you know, the more activity that we get on Ethereum, the more deflationary it becomes. And at one point I think it was deflating it around like one and a half, almost 2% a year, which is a crazy thing to think about on top of the supply issues, on top of the demand increases, on top of a lot of this stuff. So, you know, it's a really long answer to, but I think that if there's any argument to say, like can the cycle extend and stuff, I think the answer there is like, yeah, there's a pretty, I would say a pretty good argument. Now I'm not going to come in here and say, oh well, for certain this time is obviously Different. I'm hesitant to do that, I think, for obvious reasons. But I think there's a really compelling argument that can be made to say that, hey, things can maybe not necessarily be entirely different because I think the having will always play some sort of role in bitcoin and all of crypto. But I think there's a pretty compelling argument to be made that maybe we do run longer this time around.
- [66:11]
A
Yeah. And I think the extension of kind of what. Building on what you just said is like, do you really. Even if it is a bear market and the gains slow down, like, you really want to be selling everything during the month? Most pro crypto administration ever. And then that kind of leads you into the next political cycle a couple years from now. Right. Because it's like, even though the president's in there for four years, you start campaigning a year and a half, a year before. So, like, we're really. It sounds crazy because that last one was just almost too much for people, but, you know, two years from now, we're going to start that cycle again. And, like, I think if anything, crypto's kind of been a bipartisan issue. Like, I know Democrat Ro Khanna. He's a great one who has been, you know, huge for digital assets. And it is. It is a bipartisan issue for the most part. So it could be kind of another catalyst two, three years from now of just more crypto kind of. Of legislation going forward for the next round of senators, congressmen, and then, I guess, an eventual President of the United States. So it's just super, super bullish to. To not want to fade this narrative right now. I got a fun one from Ryan, guys. Ryan asked, like, what do you think of PI Network? So I actually have a funny story. Back when I was at Barstool, back when I was at Barstool during, you know, 2021, like, when everything was going crazy, everybody, like, downloaded PI Network and wanted to, like, get you in their PI Network. And then you hit the button and all that stuff. And then, funny enough, when I got here to crypto101, we actually brought on PI Network and interviewed them. And to be. To be quite honest, you know, nothing. Nothing that got us super, super excited. It's kind of more of, I think, in their words, it was like a social experiment more than, you know, a financial instrument or an investment. So if you're having fun doing PI Network, that's great, but I wouldn't. I personally wouldn't consider that a bag that I would be watching to go up because I don't even think you can really sell it anywhere. It's basically just a social experiment. Anybody else have any funny, funny topics on pie?
- [68:10]
D
I remember sending that out to friends, like, many years ago, too, because I think it was like almost like a MLM thing. Like, it was like you got like part of rewards from the people you would send to, so you had like an incentive to invite them and. Yeah, but I don't know if there's any real utility to the network.
- [68:28]
A
Yeah. All right, we'll wrap it up with this. So how long does altcoin season usually last? From James, Our friend James Williams. Rohit, you want to kick that around?
- [68:38]
D
Yeah. So the rally in bitcoin is usually about a year in terms of that transition from Bitcoin, say, to Ethereum. I would need to look into it. I suspect probably about six to eight months because, like, the transitions tend to happen pretty quickly towards the end between, like, Ethereum to large cap tokens, large cap tokens to small and mid cap. The most frenzied part of the markets tend to be the shortest, kind of. So that that's worth keeping in mind when you're thinking about potentially taking some profits or just reallocating the bitcoin or something more stable.
- [69:12]
A
Awesome. And then, Brian, you got a thought on how long altcoin season lasts and just any final thoughts for everybody?
- [69:18]
C
I hope it lasts a long time. Everyone. I hope it lasts forever. No, I think an altcoin season lasts few hundred days, actually. But I'm fired up for this altcoin season. I don't want to talk about the end until we get into the thick of it.
- [69:32]
A
Yeah, I like it. And then, Brendan, how about yourself?
- [69:36]
B
Yeah, I think an interesting data point is that we've seen altcoin season get progressively longer and longer over the years. So in the different market cycles that we've looked at, it does tend to actually get a little bit longer. And it kind of feeds into this idea of could we extend longer this time around? And I, again, I think it fuels this argument that that's a really, you know, likely possibility that we do see it extend a little bit more. So, you know, what is that? Is that through the end of this year? Personally, I think so. I don't really see the crypto market stopping through the end of the year. I think if you would have asked me this four years ago, I would have said, I don't know. You know, you got to stick to this stuff. Now I look at it and again, I. I think all the Data says from the charts, right? That's my speciality, is looking at the charts. All the data on the charts says that we're just not near that point yet. So it's either A, everything goes into 200% gear and we just skyrocket to where we need to be and the cycle ends on time, or B, we follow a normal pattern, a normal kind of movement cycle from here and we just have an extended cycle. And that's what I'm leaning towards. So again, I'd say through the end of this year, I would be optimistic.
- [70:46]
A
Yeah, I couldn't agree more. And I'm going to take us out after over an hour and 10 minutes of live free content. Guys, what an episode. Thank you, Brendan. Thank you, Rohit. Thank you, Brian. You guys bring just your hard work and efforts over not just weeks, but months and your true expertise. And you know, you guys let me rant about what's going on the news and, and X and bringing you guys some tidbits there, but I really rely on you guys for making sure that I'm educated and can build and bring the best show that I can. Guys, if you enjoyed this, again, just a couple calls to action. Bottom right of the screen, you see our logo? Hit it. Please subscribe. If they're new here. We're doing content here every week on YouTube and the podcast. Give the video a thumbs up. And then again, if you're interested in learning more from anybody you saw today, go in the description, check out the links with Rohit, you got the newsletter. With Brian and Joe, you've got Momentum, Money makers and Meme Coins. And then of course with Brendan, just top tier technical analysis. We really want to see you guys in the community so we can touch base with you literally daily. That's what those links are for if you really want to take your stuff to the next level. But other than that, what an episode. From what I see, guys, this did really well and I think we're going to be doing more of these. But nonetheless, even if it's not the whole team, we're doing, you know, content weekly with awesome interviews of people in the space from the Crypto 101 podcast with Bryce and Brendan and then we're doing rundowns with Brendan, Brian, Joe all the time. So again, we appreciate your time. Check out those links below before you leave. Stay bullish, my friends, and we'll see you all real soon. Have a great weekend, everybody. Oh, what you eating? The new banana split cookie from AM pm. All freshly baked with real butter. With banana, chocolate and strawberry flavors.
- [72:41]
C
Wow, that sounds amazing.
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B
Can I have a bite?
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A
I'm sorry but no. But you can't split the banana.
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B
Split?
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C
Not even a little?
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A
Not even a crumb.
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B
What if.
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A
No, please.
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E
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