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Transcript8 lines
- [00:00]
Host 1
Foreign.
- [00:10]
Bryce
Everybody, welcome back to another episode of the Crypto 101 podcast. Have something new we're trying out today. So, as we know, the schedule usually every week is we have our flagship Crypto 101 podcast interview every Tuesday. And then midweek we have a rundown with Brendan. We wanted to try something new to today. You know, Bryce is always trying to give out as much information as he can to the great members of Crypt Nation and the listeners of the podcast, but we're. We're short on schedule. You know, all the work that Bryce does, you know, trading crypto, and all the work that we do inside the community, and all the interviews we do, we do run short on time. So we tried something new where Bryce, you know, makes a. An update on his own. And then, you know, I'm gonna edit it and transition into it via a podcast audio. So I want to know from you guys, is this something that you would like? Definitely. You know, please rate us on Apple Spotify. I know Spotify has some comments. So is this something that if this was, you know, maybe bi weekly or a couple times a month? If you guys, you know, enjoy hearing more from Bryce and his thoughts, this is something that we were thinking about doing more of for the rest of the year. So for this week's market update, we got eight awesome minutes for you. Breakdown is the crypto market's moving higher. There's a lot of awesome news in the. In the markets, and the price action has been towards the upside. Bryce breaks that down for you. There's also some interesting news around regulation and stable coins, and Bryce is seeing a possibility of a short squeeze. So you're going to want to stick around to see his theory on how bitcoin can lead us back to $100,000 and beyond. Again, it's a jam packed eight minutes, but let's switch over to Bryce for this week's market update.
- [01:45]
Host 1
All right, everybody, Bryce here coming at you with another real quick crypto market update. And like we've been saying, it's been an incredible time to be a buyer in the market. Guys, we've been long. We've been telling everybody that this is an aberration in the market that is, you know, kind of an outlier. There's really no reason for crypto to be selling off as largely it was. It was a huge reset in momentum, and we scooped up a lot of coins that we thought had a lot of value. So we're really excited about this bounce, okay? Because it allowed us to buy fundamentally strong Altcoins and bitcoin at great prices now, many coins. So bitcoin, for instance, is up 30% from its lows and many other altcoins are up 100 to 500% higher off of their lows. Many coins in the AI sector, the DeFi sector, there's a lot of good stuff happening. And so why is the market bouncing so much? It's because the fundamentals of crypto had not changed, they had not worsened. Prices were down in the dumps, but the fundamentals kept growing strong. So to me, that's called a divergence. Okay? It's a divergence of reality, which is fundamentals getting stronger in the markets, which are just emotional, right? Psychological, they were coming down. So you have a divergence because you have strengthening fundamentals with decreasing prices. However, that is now reset. Now we have continuing to increase fundamentals and we have a convergence where those prices are starting to catch up. So it was a very, very, very good time to be a buyer. The next best time to be a buyer would probably be right this minute because I think things are going to keep moving higher. Okay?
- [03:24]
Bryce
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- [04:18]
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- [04:50]
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- [05:23]
Host 1
I think the market has some recency bias, sort of a cognitive bias to keep them from buying after the market has fallen for the past four months. It's like we've had one or two weeks of up and now people are like, oh, we're going to sell, we're going to sell. We don't think this rally can continue. I think that is a trap. I think it's a bear trap. Okay, I think we're going to be moving much, much higher. Bitcoin beat its 200. It's 20 and it's 50 day moving average. Again, many altcoins are having a lot of strength and one of those fundamentals that are strengthening that we were talking about. So for one, we see a great example of regulation actually affecting change in the crypto market. So let me give you an example. The SEC came out in the beginning of April and they came out with some new guidance basically defining what was called a covered stablecoin. Things like usdt, USDC and things that were covered by US Treasuries essentially. Now Ledger allows you. Ledger's the, the cold storage wallet that we, you know, recommend everybody have. Now Ledger for the first time just last week announced that you could earn interest on your tokens through DeFi directly on Cold storage. This was never really before possible through Ledger because they were so worried that the SEC was going to come crack down and say you're issuing securities or you're tampering in securities and all that kind of stuff. When at the end of the day they're coming out and saying stablecoins now have a lot more clear regulation interest from DeFi protocols on these stablecoins is now covered and you're good. You don't need to worry about the SEC coming after you. That was a huge, huge unlock because Ledger in their whole Release talking about how they're appreciative of the regulatory clarity and all this kind of stuff. Ledger said that of the. I think they have, by the way, $500 billion in assets that are secured by ledgers. They said only 4% of stablecoins that are held on ledgers, only 4% are earning interest. They said that other 96% is probably going to start earning interest because now it's as easy as a click of a button. And so that's just one clear example of regulation finally coming in and helping the crypto industry. Once we have that clarity and, you know, there's free money that people have just been stepping over, and now all that interest is going to be getting passed back. And so I think crypto is at a really, really, really good point in time, not only because things are moving so hard and fast to the upside finally, but because we've gotten rid of some really key technical resistance points across the market. So bitcoin's strong. Altcoins are looking even stronger. I noticed, interestingly, there's a lot of negative funding rates in the market right now. So it means people are basically paying a premium to go short. What does that mean? We're setting up for a big short squeeze. There is a lot of short, open interest, people defending their shorts, trying to short more aggressively. And you could see that reflected in the funding rates for perpetual swap contracts, essentially. So these perps, these perp contracts, people are really, really short them. So what that means is if you get a big enough bid in the spot market, it could squeeze all those shorts. So I think we're setting up for a squeeze to above $100,000 here. In the short term, I think May is going to be a mega mega month. Let's call it mega month May. Instead of sell in May and go away, we're going to be doubling down in May because we just had a big washout and we're not in a macro bear market. I know the mainstream media would like you to believe and be fearful that we're in this crazy bear market, that the tariffs are going to just completely ruin life and upend everything that you ever knew and held dear to your heart, right? But guess what? The markets, the traditional markets, are back above where they were when the tariffs were introduced. So that was all fear, that was all doubt, uncertainty. And it's starting to come to come to clarity, right? The trade deals are getting worked out, all that kind of stuff. You're starting to be able to price the future a little bit better. Price the risk associated with certain things a little better and the markets have more clarity. You could see what's happening. People took the opportunity to buy the dip. I certainly did. I hope you did. Now it's time to continue buying. It's time to continue looking for the best coins and adding to those winning positions. Again, I'm a big believer of adding to your winners and cutting your losers. Because adding to your losers and cutting your winners is like watering your weeds and cutting your flowers. That's the wrong way to think about it. And so during this time, if you have underperformers in your portfolio, I suggest cutting them. Because right now the market's giving you a tell. Like in poker, right. It's giving you a read. Certain things are up big, other things aren't. Right. Those things that are up big are having institutional demand, bigger pockets playing in them. It's a much better idea to hold things that are moving up. I know it sounds silly to say, but I see so many people in our community doing the opposite. They say, hey, this one's up 100%. I'm going to sell it all to buy the other thing that I really like. That's down 50% or more. And that's just not the right way to do it. Okay. In my opinion, especially when the market's coming back with such momentum, you want to be focused on those trenders. Okay. So anyhow, long story short, things are bouncing back. We're really, really excited. We've got a long and strong bull market ahead. I know it's a scary past couple months, but things are looking like they're back on track. And so with that, I'll leave you with a very positive note here that I think bitcoin is going to be well above a hundred thousand dollars in very short notice with by the end of the week, probably next week. I think it's going to be bouncing right back. So I'm excited, I'm positive, and I hope you are too. Stay long, stay strong. The bulls are on parade. We're going for it. All right, we'll see you on the other side.
- [11:29]
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