guys if you have been watching our show this correction shouldn't shock i told you that there's going to be a correction the good news is that now i'm telling you that the correction's over so whereas the correction started yesterday i think it's over now so we saw about a 25 correction in bitcoin the good news is that i think we have seen the worst of the blood i said to you guys if you're going to buy anything buy things that you have done research on buy things that will survive a correction buy tokens that are getting the network effect and will survive a correction in this dip are you worried about luna are you worried about the king of payments the one that has more payments than anything else i'm not worried this is the king of payments they haven't even started yet they're getting the network effect like anything else you worried about are we okay had a correction it went down from eight dollars to six dollars it's had a 25 correction you worried about it it's getting real world adoption every single day it hasn't even started it's getting the network effect let's get into l runs elrond has had a huge correction it's down 53 this is a great great great buying opportunity harvest finance remember i called this one it went to 350 and it went down to 218 i picked up at about 225 dollars that for me is a good buy that for me was a good buy indeed i'm crypto man run i come to you every single day at 10 a.m est and i bring you crypto love and i'll give and i bring you crypto wisdom all around the world so if you are in los angeles wakey wakey rise and shine we're in a bull market things are all happy again if you're in new york good morning hope your day is going well europe you're almost home africa you're almost home guys did you watch our show yesterday i told you guys yesterday buy our 10x gems remember i said to you guys buy our weave buy all these 10x gems that are getting the network effect buy alright buy luna if you listen to us yesterday you would have made a lot of money today because i said to you i think that we had seen the bottom of the bounce i don't think that we're going to get much more blood although there could be some little bit more of a correction but fundamentally and structurally the market is well perfect yes it may have run too much too quickly but if you look at where we are now it's exactly like i said to yesterday if you can find the gems that are getting the network effect that are getting real world adoption that are getting more and more people building on them and you can buy them cheap you'll make a lot of money remember yesterday i said to you guys let's look at our weave if you can get are we fred put up that chart that i showed yesterday i told you i we've went from eight dollars and it went down to six dollars yesterday and i said to you guys at six dollars if you can own the king of file storage you've got to own the king of file storage which in my mind is our weave there is nothing else like it today with the value guys if you bought our weave yesterday look at where you are today yesterday our weave was done below six bucks today our we've went as high as 11 it's now at 10 59.
I told you if you if you have gems that you know that are getting the network effect yesterday was a great great great opportunity to be buying these gems and if you followed our calls you probably made a lot of money let's look at the next one that we looked at we looked at luna king of the payment space there is no better token today in the payment space not litecoin not even bitcoin is better at micro payments than luna and they're getting the network effect and yesterday i said to you at 8 40 i said to you yesterday i said hey sorry i said to you at 5 40 after they'd gone down from 8 40 i said to you buy luna in the dips if you can get luna in the dips buy luna in the dips what happened it went all the way up to eight bucks today or 760.
Yes it has come down slightly now but you could have traded these bounces and you could have made a lot of money the other one that i told you about yesterday i said to you look at egld look at egld because that one for me if you believe in the smart contract blockchain war which is happening right now then you need to be buying these dips when it comes to something like egld did you buy the dip well if you had bought the dip you would have made yourself 20 30 in one day i mean if you caught the bottom of the dip and i don't know if anyone caught the bottom of a dip at about 94 you could have made yourself 30 in one day and you are buying fundamentally safe assets so yes of course crypto is a risky asset class but within the crypto asset class these are the big uh tokens that are getting the network effect and the ones that we happy to double down on when the uh when when we get price corrections so guys if you watched yesterday and you like the calls do me one favor hit the like button hit the subscribe button help me share this content with as many people as possible because when we share this content we are effectively pumping our own bags and that's what i need you guys to do now i see that there's about over a thousand of you in the chat today we've got a massive massive massive trophy today all you need to do is like subscribe and hit that bell button over a thousand of you in the chat today and for those of you don't know what the bell button is for it's pretty simple because if you hit that bell button you get notifications every time we come on and we come on at the craziest of times because whenever something happens in the market we want to be around to help you trade it and we want you to get a notification first so if you are here hit the like hit the subscribe hit the bell button and let me tell you what else is coming up on the show today so we've got commissioner hester purse remember i said to you that there's one thing that could take bitcoin to 250 000 that of course is a bitcoin etf now we had a problem but the sec kept declining an etf under j clayton but jay clayton's gone and we've got gary gensler coming in hopefully and when he comes in then chances are we'll get a bitcoin etf and that will send the bitcoin price flying remember i spoke to you about a bitcoin etf that is what was launched in canada well just one week into the that bitcoin etf that bitcoin etf has half a billion dollars 500 million dollars worth of bitcoin it bought 1032 bitcoin on the market yesterday which means that canada is moving ahead of the usa when it comes to bitcoin and regulating bitcoin and i don't think that the sec is going to allow that and today we have commissioner hester purse live and we're going to grill her about the bitcoin etf that may be coming up now bear in mind that she probably can't tell us about the specifics but we can get a feel for what's going on inside the sec and how they are viewing as bitcoin as an asset class and in particular after declined all the etfs that were scheduled or that were applied for in 2017 and 2018 and like i said to you guys i think that in 2021 we are going to see a bitcoin etf i have no doubt in my mind and i also said that when we get that bitcoin etf bitcoin is going to 220 000 or 250 000 or maybe even higher if you've noticed there's been a big shift in buyers in bitcoin and we've reported on this big shift in buyers in bitcoin before we've said to you that there are a whole lot of new corporations that are buying bitcoin today we're going to pick up on that story and we're going to talk to you about that and another story that i want to talk to you guys about today is tether settling with the new york attorney general so you had tether and they had a the new york attorney general had a case against them and yesterday they settled the case without admitting any wrongdoing or any liability what does that mean well it means that tether's not going to explode and we've said for a while that we don't think tether is going to explode we're not part of this tether fudd the truth is i've always thought that it's backed and if it's not 100 backed it's backed by other loans from inter-company loans between bitfenix and britain and it's not a big thing because even if it's not a hundred percent backed then you're talking about a 35 billion dollar asset in a trillion dollar asset class and so i think that a big mountain was being made out of tether and today we have a whole lot of different competitors so if you're not comfortable using tether well you can just use usdc or busd or any one of those and not be linked to any of the tether fund so i've always been a big believer that this terrified was just fud and now that it's all behind us i think that that was one of the major hurdles to us getting an etf and hopefully we can get that information out of commissioner hester first today we can ask her if tether was one of the reasons or one of the the hurdles that stood in between us and getting a bitcoin etf but regardless as i said to you i think we are going to get a bitcoin etf this year let's go back to some of our calls from yesterday you'll remember that yesterday i called luna i called our weave i called i called harvest finance and that was trading at about 220 dollars uh on the show when we bought into it it went to about 330 today i also said if you can pick up super fund if you can pick up super farm tokens at about a dollar you'd be in the money and i know they traded as low as a dollar and six cents and they went up to about a dollar forty or a dollar fifty today so again if you fundamentally believe in the tokens that we spoke about if you fundamentally believe that these tokens are the ones getting the network effect then yesterday was a great buying opportunity and i don't think that we're going to have a much bigger correction i don't think that we're going to go much below 45 or 44 000 which was the low of yesterday um i do think we're on the recovery i don't expect a v-shaped linear recovery i think the recovery was helpful i think the recovery took out the speculative weak hands i think the recovery made people realize that you've got to actually do some kind of due diligence and research and that wasn't the case because people were just investing in tokens not actually even knowing what those tokens were about and when that happens in the market when you get that kind of euphoria then you know that the market is going to collapse and that's why i called the market to collapse we also took a position yesterday on uni swap uni swap had a massive recovery let me get the uni swap chart for you guys so that you guys can see the recovery in uni swap but that's another one of our 10x gems fred maybe put the 10x gems up on the screen so we can have a look at them all these tokens that are part of our 10xjm guys we know that we can buy these things every single time that there is a correction we can buy these gems let's look at this over here so i'm going to share my screen with you guys let me show you my screen and that is the uni swap chart from yesterday we had the bottom of the dip at about 20 bucks and we are back already at 25 bucks which means that that could be the easiest 25 that you guys can make just by buying tokens that you believe in in the dip what do we look for we're looking for tokens that have got real life adoption with the network effect and if you've got that then when we get the dips we buy now a lot of you have been asking me about the cashier meter where is the cashing meter fred call up the cashier meter well that's where the cashier meter is that's where the cashier meter is the cashier meter is on seventeen and a half percent which means that out of the thirty five percent that i had in cash i have already deployed fifty percent of that cash and i have another fifty percent of that cash ready to deploy if the market takes another dip where did we deploy the cash we bought as i said to yesterday egld we took the opportunity to buy egld because we know that egld is one of the smart contract networks that is getting the network effect they have a lot of they have a very strong community they have smart contract capabilities they have the mayo on it which is in my mind a breakthrough in blockchain technology it's the easiest easiest wallet to use in the blockchain space in my mind they use it the user interface is absolutely amazing i deployed a little bit more money into pickle i deployed some money into harvest finance a little bit into uni swap a little bit into luna and a little bit into r weave and so today the cashier meter is at 17 and a half percent uh we've got the cashew meter today at 17 and a half percent and that means that we still have money to deploy whenever we want to deploy the money okay so we've got we've got all of that um fred let's look at the 10x gems once again so those are those are our 10x gems guys have a look at these these are tokens that we think have got the network effect and you can kind of buy them with your eyes closed whenever there's a dip there are many others that have got this but remember what we're looking for we're looking for the network effect tokens that have real life adoption and these are those network effects so we've got a big show for you guys yet today we've got michael thunder pop who will be signing in at any time now and we've got commissioner hester purse coming onto our show today and we're going to talk to her about the bitcoin etf um and that is all coming up today and then we've got amazing an amazing announcement for you guys in the nft space so you know that we are absolutely gung-ho on the nft space we've been telling you guys that this is probably the biggest revolution in crypto and not only in crypto this is probably the biggest revolution in any type of industry ever and tomorrow we are going to bring you live bidding coverage of the christie's auction of the people artwork and this is huge you're talking about christie's which is the biggest auction house in the world now auctioning nfts and tomorrow live at 10 a.m on crypto banter we are going to be bringing you coverage of the auction and we even have one bidder who's going to put in a huge bit on a piece of artwork and he's agreed to do it live right here on crypto banter you've got to be getting excited about this whole nft space you have to be getting excited about it and tomorrow i'm going to bring you live the the bids on the christie's auction for the people artwork and that is going to be one of the biggest things that that's happening in the nft space and like i said to you guys i think that this nft space is going to explode and we're going to keep bringing you projects that we think are doing magic in the nft space and then in other news square fred quite after square video and some headlines here on bitcoin uh square had bought about 50 million dollars worth of bitcoin the company doubling down on the total bitcoin that they hold uh the company purchased about 170 million dollars worth of bitcoin that now makes up about five percent of squares total cash or cash equivalent so the company uh going further into the bitcoin market we're still reading into some of the guidance and other payment volume uh aspects of this report but again beat for square and the stock pretty much flat right now it had been down earlier today based on uh some of those bitcoin prices back to you guys so square buying another 170 million dollars worth of bitcoin that shouldn't come as a surprise because we know that jack dorsey who is the ceo of square is a big big big bitcoin man and they previously bought 50 million dollars and today they bought another 150 million dollars 170 million dollars worth of bitcoin from their company treasury now the interesting part is that now they are the number four biggest holders of bitcoin after microstrategy tesla galaxy digital and then they are in the number four space with about 400 million dollars worth of bitcoin and that's because the bitcoin that they've bought have gone up in value despite what peter schiff says not only that that's not the exciting part of the announcement i mean obviously we should get excited when we hear of corporates putting their balance sheet into bitcoin but that's not enough to make or to make news anymore you want to make news you tell us that square did 4.5 billion dollars worth of bitcoin trading on their platform and that 4.5 billion dollars netted them 90 million dollars in fees now other companies are going to be looking at this and go hold on a second if we don't integrate bitcoin we're missing out on this big part of the part 4.5 billion dollars in turnover plus 100 million dollars in revenue that is huge and so that for me is the biggest part of the square announcement we also had an announcement today by michael sailor that they have bought another one billion dollars worth of bitcoin this is the one million dollars that they raised one billion dollars that they raised about a week ago this guy waits for no one this guy just hits the bid he wakes up in the morning and he hits the bid and he was buying two thousand dollars worth of bitcoin every second and they have filled the one billion dollar bitcoin and this time the average price of a bitcoin is 52 765 today microstrategy have 2.17 billion dollars worth of bitcoin with an average price of about 23 000 of bitcoin and that just shows you that if you keep buying and keep buying you keep averaging and averaging into your price and for me the surprising part was that they don't wait he raises the money and then he goes out and he buys as if he knows that this price is going to continue to rock it up okay i see we have our guest on the line michael welcome back to crypto bank with my friend howard i'm doing well i just read the news and heard the news about michael cedar he's crazy he's losing his race he's crazy i mean i'd love to be one of the traders on his team and say to him you know michael we can save you like two or three percent and all you have to do is just you know time your purchases a little bit but he just buys i mean he just hits the bid but did he write out loans to make those buys or did he just buy it from money again he took a one billion dollar convertible note uh and not one billion dollars yeah that's just profits he made on the initial buys he made on bitcoin and then he uses that again to get those long loads to get more bitcoin it's insane if you think about it but i like it listen we've been we had a little bit of a bloodbath yesterday i mean i know for you and i we've been here for a long time and i guess we probably expected this bloodbath um where how do you look at things today do you think we've recovered do you think that that was the end of the bloodbath or do you think there may be another leg down it's funny every time when the market is dropping you're asking me to come on i trust your thoughts i trust your charting techniques and i have trust your insight well i don't know if you go back in history they usually uh march is just a very bad month for the market so um i don't believe we are done yet with the correction uh but i guess we are not going to be like lower than 40k if you get this correction and you don't have any position yet it's just a blessing that you can buy cheap even microstrategy is using it to buy the dip so it's just a blessing yeah when people say that much is a bad month for bitcoin let's actually call up the stats i have the stats over here so those are the numbers for march if you look from 2011 minus 15 2012 -1 2013 was a good year but generally march is a red month for bitcoin i must say i'm not superstitious i don't think that because march has been a bad month for bitcoin traditionally i don't think that it's going to be a bad month again this year i just think that the market structure is very different this year what do you think uh what is so many variables that makes those markets move so like it could be rebalancing of institutions that is pushing the prices down it's also miners that are selling again it's just a natural market cycle which also happens historically it's also not only bad month on crypto it's also bad but on the equity markets the yields are going up so there are different variables that can move those markets and historically it's just a bad month which makes it the easiest way and the markets literally needed a corrective move if you went if you were seeing those charts they had to have a correction all the newcomers had to feel the pain once so going back to it i mean we felt a little bit of pain yesterday bitcoin went down about 25 depending on where you get your readings from alts went down 35 30 35 was that the correction was that the bloodbath that's a very hard call i hope it is but i'm not sure i believe that we're gonna get another wave and we're going to see like a low 40k but at the last time you asked me you were also asking me is this is the correction and then we just continued rallying up um so it's in between i guess low 40k is the ultimate bottom are you looking at any of the charts are you are you looking at any charts to make these calls can we have a look at the charts can we see what you're looking at i don't have any i just had to rush to come here so i don't have anything open right now so i'm sorry for that but like uh once again if you go back in history you saw just on the screen march is just a bad month corrections usually takes some weeks so the best case what we have right now is that we get that sideways choppy pattern and then one more crash down with like 15 to 20 and then we're done i'm gonna call up 2017 because i know that you were around in 2017 that's the chart from 2017.
You can see that we had multiple 30-plus percent corrections the thing about these corrections was that they were quite quick like i think the average direction was like a week a week and a half these corrections were quick in 2017 and for me the sign of a bull market is when you go down quickly but you recover quickly so i see those messages off the chat yeah i'm dutch but uh if you see those uh corrections in the chart you saw weekly candles and then you get the first drop down of one or two weeks so we just witnessed the first drop down of one week or two weeks then it goes flat for some period of time then comes another one which is so the total corrective modus is like three to four weeks maximum we just had one week so we can still have one more drop down test some lower levels um the police cars are coming by to get me uh for being so bearish but usually that's what's happening so like it takes some weeks more and then we just start grinding up again and the market just continues as this is just a bull cycle so we don't have to be uh to be in panic mode except if you've bought bitcoin at 55k but then you have to readjust your strategy i mean even if you've bought bitcoin at 55k there are a couple of things on the horizon that may happen i mean more corporate adoption more corporate treasuries going into bitcoin um we could get a etf this year i mean i'm hoping for an etf yeah i know but like if you if you buy bitcoin at 55k you're an investor like michael said he's buying at 51k because he's got his 10 years horizon but the people that are listening to this show and to me on social media buy those bitcoin with leverage 10x and then get liquidated on the drop down because they want to become rich overnight that's the big difference no okay so look we we we're not a trading channel we're not the ones that tell you to buy with tinder that's the audience yeah we look for fundamentals we buy on the fundamentals we make sure that every time we buy we're buying things that have a network effect and that we fundamentally believe in except for a very very small part of our portfolio like 10 of our portfolio goes into what we call the thousand x gems and you know those are the ones that we believe that may have a chance of doing it and we expect to lose uh more times than we would on those things are you looking at any individual coins now that the market is corrected are you looking at anything individually and going you know that actually might be a buy at this level yeah i'm looking a lot at like oracle so we've got chain link i'm looking at that one specifically but i'm also looking at smaller oracles which are teller and dia and api tree that's a group of coins that i'm definitely looking to buy at these dips as they did not experience a bull cycle yet and platforms i just want to have more polka dot and more cosmos as those projects are going to explode in my belief so that's the group of coins that i'm looking at so let's look i'm just quickly looking at my phone to see if i can get the price the latest price of dot because i don't have it up here on the screen so 20 something around there 38 maybe already yeah 30 33 bucks would you be buying dot at 33 bucks i know that you've been buying it from much earlier i mean can you wrap your head around buying something at 33 bucks when you bought it three months ago it's six bucks or five bucks well you have to use the current data to make your analysis and to make your decision so there's no point in saying okay i want to buy back at six dollars yeah everybody wants but if you want to use historical price actually just use those compression periods that were there inside this entire run so if i remember it it's like at like 28 to 30 bucks that is a region and then between like 21 to 24.
Those are the two regions you should be focused on and even if you get the opportunity to buy at 32 when it was 41 and it's just a regular correction it's not a bad option you still outperform 90 of the markets yes yes yes mark what do you think the effect of a bitcoin etf is on the market do you agree with me that if that happens and investors have a tradable share where they can buy bitcoin with a low uh two percent per annum holding cost do you think that uh that the bitcoin etf is the game changer yeah if we get more financial instruments it's going to be explosive for the markets i i do remember the conversation that anthony pompliano had with kevin o'leary he was uh he asked kevin to say okay would you want to buy bitcoin and then the answer came if i had one to buy one billion of bitcoin then i can't really um buy it through spot bitcoin as there's just a big liquidity issue that there is if they want to sell those so um what he wants to do is uh he wants to buy his stuff through that instrument so an etf is opening the gates for many people that have a ton of wealth and want to get exposure towards bitcoin so it's just going to be an inflow of cash again into the markets to explode the markets even more you know i've got commissioner hester purse i see that she is on the line i think she's going to be joining us shortly i'd love to get her views because i mean if you look at the canadian etf that was launched this is the canadian etf and this etf now has half a billion dollars worth of bitcoin after trading for one week canada this is not in in the usa um so for me this is a huge thing we need to get that etf um because if a canadian etf got half a billion dollars in they say that that's the equivalent of an eight billion dollar usa etf imagine if we get a basket in which we can all just have different cryptocurrencies in there what's going to happen with the markets yeah but i don't think that that's a 2021 uh thing i think if we're getting it at the later stage of this year but it's tricky right now you know the problem is that the sec has a long time to contemplate these things so when you submit something the sec has like a year in which they can contemplate these things and they don't really have a sense of urgency to make these things happen so typically you find them making a decision to what to watch towards the end and that for me has been something else well it's good that they are actually thinking about it right now and that's why hester is on here so i'm also very interested to see what she's going to say well then let's see what she has to say michael thank you so much for joining us good to see you my friend commissioner hester such an honor to see you again how are you i'm good how are you it's nice to be back as you know i've got to give my standard disclaimer which is that my views are my own views not necessarily those of the sec or my fellow commissioners yes and and you've been very clear about your own views even though sometimes they go against the views of the sec in fact if i'm not mistaken one of the last times we spoke was when you published that public dissent and i think that was in 2017 or 2018 2018 yeah yeah and you went against the sec or and you said that you know you believed at the time that there should have been or there should be more clarity towards a bitcoin etf yep and here we are um several years later and we're still we're still in the same place although that said because there have been a number of rejections i think the industry has a better sense of the kinds of data that the sec is looking for and the kinds of assurances that the sec is looking for though i still think that there's uh there's some lack of clarity there so i agree with you i think that there is a lack of clarity and i think with every rejection what the sec has done very well is kind of tell us why we're having a rejection so they spoke about custody they talked about they spoke about price manipulation they spoke about not having um enough investor protection but that was in 2017 and 2018 and we're in 2021 now and a lot's changed is the view of the sec that indeed a lot has changed and perhaps we should be looking at this with fresh eyes well i think what you need to to realize is that the context has changed a bit now that we have a new chairman likely coming in relatively soon he's been named by president biden and he'll be going up to the senate next week for his uh confirmation hearing and then there's a process after that he's someone gary gensler has experience in this area he's been teaching at mit and been working with people who are involved in blockchain crypto issues and so he'll come in with a really good knowledge base and perhaps with a fresh view again we are a bit bound by the prior decisions that the agency made in terms of the reasoning that was employed and the things that that they're looking for but but i think that having someone new come in will will afford us the opportunity to take a fresh look so explain to us what you mean by by the decisions the agency made in the past if the agency in the past looked at an etf and said look we can't approve an etf because we believe that the price is manipulatable or too easy to manipulate because custody may be an issue if if that was the case in 2017 and the crypto industry or the applicant for this can say look you said that these were the issues that you had but today the market has changed and today the market looks like this is the sec then of the mind that you can look at it and go okay well if this has changed then maybe we need to change our decision well i mean again i think that that's that's what the case that new applicants coming in probably are making they're they're arguing look the landscape has changed quite a bit um we kind of can sort through which exchanges are are regulated versus the ones that that aren't we can we can sort through the ones where the volume is real and it where it's not we can look at all of the you know you just mentioned the canadian etf that just started so the landscape is changing we have that to look at to see how the markets function there we see a lot of companies putting not a lot but we see some companies very publicly as you also mentioned putting treasury assets into bitcoin we see more institutional interest across the board in in crypto generally and so those kinds of things factor in but i think there's still there's still that desire by the sec as reflected in those denials to look to the underlying market and to want it to look just like a an equity market so i understand that i also understand that the etfs on many assets the etfs on gold the etfs on silver you're now looking at an asset bitcoin is an asset which is now in the top 10 assets in the world i mean i think it's just under google it's bigger than tesla it's bigger than most assets it's 70 of silver's market cap at the same time you've got your neighbors just north of us um which have approved an etf and we've seen half a billion dollars go into that etf in less than seven days does the sec look at this and go hold on a second are we maybe falling behind or is the sec not that kind of body well i think you know the sec is tries to be deliberate about things and not and not too influenced by the fact that you know the price of bitcoin has risen a lot and and that's not really the relevant consideration i think a a a bigger consideration is that um we typically you know take our time and watch a market develop and mature and so i think that that's kind of the you know that's the point that my colleagues would would make um again you know i i thought several years ago that we were ready to go on on a bitcoin exchange traded product so so again base it depends on the facts and circumstances of the particular product because these products are not all designed the same and that that matters the mechanics of how it works actually matters so we have to we have to look at each one on its own terms but i think as a practical question are we ready for it i would say um that that yeah i mean the market is mature enough to to bear an exchange traded product much as the gold and silver markets are mature enough to bear that kind of product but those those other markets are a lot older so you know i think that's the pushback that i i would get um from others you were you came up in 17 2018 and you then said that you think that we were ready enough to have a bitcoin etf and two years have passed and a lot has happened in those two years which has made bitcoin a much more mature asset class so to speak in hindsight do you think that when you came out back then perhaps the asset class was a little immature and maybe you did jump the gun when when you were a maverick and you said that at the time we should have had a bitcoin etf no i stand by my decision i mean i understand different people come to different conclusions but i stand by my decision of course now the futures markets are are operating and they're the whole market is much more mature but i think it could have it could have handled it at the time as well okay i mean fair enough if we look at what the sec's mandate is as i understand it as a lay person i see the sec's mandate as protecting investors and particularly probably protecting um should we say the smaller investors out there in the market the ones that are slightly less astute right well i mean we have a three-part mission which is to protect investors facilitate capital formation and and protect the the integrity of the marketplace um sure we spend a lot of time thinking about retail investors i do push back a bit on this on this i mean of course if you're not a professional investor you're not as you're likely not to be as astute but it doesn't mean that you don't have something to bring to the marketplace so you know i'm always preaching the message of we should let people figure out for themselves what they want to invest in but we should also tell them if you make a mistake don't come running to us and tell us that you want your money back because that's just not how it works right you you gotta with with the right to uh make your own decisions comes the responsibility when you make bad ones and then you hope you learn and move on and do better so please you know exercise skepticism so the reason why i ask that is because if i look at the success of things like the greyscale trust and no doubt you you have been watching the grayscale trust and the large amount of deposits that the greyscale trust gets and no doubt you've seen that the grayscale trust trades at a premium which effectively means that accredited investors who by design are slightly wealthier investors at the moment are buying assets in this trust at net asset value and they offloading this to should we say the man in the street or the less sophisticated investor and they're offloading it at a premium now every time i see that happening and i see the trust growing i think this must have been about 30 billion dollars under management now i keep thinking to myself surely the sec is watching this and going we have to approve a bitcoin etf because for as long as there's not an etf unsophisticated unaccredited investors are paying a huge premium for something that they shouldn't be paying a premium for look i mean that's something that certainly is a trend that i've been watching and that's a point that i that i make which is you know people do want to get access to this market and you can go ahead and you can just buy spot bitcoin right but that doesn't i think as you were just mentioning before i got on that doesn't necessarily work for everyone for various reasons and so allowing people an easy way to get in and out of of the asset through our regulated markets is you know can be very helpful for retail investors and so that's certainly a point that i'm watching in a point that i'm trying to convince my colleagues to take a look at as well i think you've frozen up so i can't hear you anymore sorry i seem to have lost internet connection i wonder if i'm back am i back from you're back you're yeah yes in there for a second so i lost i lost internet connection so what happens now i know that there are multiple applications that are in i think that some of them are backed by some of the big names in the industry and i know and i'm not going to put you on the spot to talk about um the individual applications but maybe just run us through the process because you know we have gary against the coming in at some point in the near future what happens next do we assume that the sec takes their time and runs through the maximum allowable time period or is there like a chance that perhaps the sec will have some kind of urgency or maybe undergary against that he would want to make a mark and come out with something for investors how do we view what happens next well i think one important thing to remember is that that any new chairman is going to come in with a very big agenda and lots of items on it and most of those items will have nothing to do with crypto so that's that's one piece to remember another piece to remember is that a lot of what is done on these applications is done at the staff level there's a lot of discussion um between staff members and the various applicants they're exchanging data thinking about these issues trying to trying to figure out how these products would work if they went online and so that process is happening and it doesn't matter who the chairman is and a lot of the decisions can be made at the staff level they aren't necessarily always elevated up to the commission level so you can have a decision made on an application without that being made at the commission level so bottom line is a chairman has a big influence on the agency's direction and can decide that something is important and and you know that that something should rise to the to the top of the agenda but they're going to be a lot of other competing issues so the chat is going closer yeah asking about janet yellen and janet yellen's potential influence we know that she's come out multiple times against bitcoin as as of yesterday she came out and she said it's a highly speculative asset and it's an inefficient asset how much influence does janet yellen have on the process indirectly we know that directly she's probably not really involved in the process but surely you need everyone on one team otherwise you've got disarray or arguments in the ranks well the sec is an independent agent a regulatory agency and so that means that um you know we're we're doing our own thing we're subject of course to congressional oversight but we're we're doing our own thing um you know of course people pay attention to janet yellen she she has a lot of you know people respect her and and she's got a lot of years of experience um but i think that the you know some of the comments she's made um you know suggest a leeryness about crypto but she's also made comments to suggest she's open to thinking about about crypto and so i think we we um you know need to remain optimistic that that um she'll be open to those conversations and you know again i i don't think it's wrong to say that there's some speculation involved in in in the crypto markets yeah i guess there is but i guess i mean if you look at stocks uh and stocks and gold uh specifically if you look at the gamestop events from last week or from last couple of weeks ago i think there's speculation in every asset class you know speculation has a bad has a bad name and i think speculation is important to keep markets operating but again i go back to the point that people also need to be realistic that you know speculation can involve gains but it all also can involve pretty dramatic losses so you better know what you're doing and you better be willing to lose some money so you know i think having a treasury secretary saying that that that you know this is a different kind of asset classes is is not in it in and of itself a bad thing and i think the the openness there's an openness um i think across the government now as as people are seeing that the asset class growing to learn more about it and and so um i'm optimistic that as people learn more about it um we'll be able to get more regulatory clarity which is what i think a lot of people are looking for amazing and i must i have to ask you this question because again the chat's going crazy they're talking about crypto mom i think that was a tag that we gave you in in 2017 and everybody wants to know does crypto mum hold any bitcoin in her personal capacity i'm not allowed to hold any crypto so i don't i don't have crypto because uh in in in uh my job they don't they don't allow me to hold it so that's the answer they don't allow you to hold any assets or any any i'm allowed to have some assets but i'm not allowed to have crypto assets wow okay every time every time i speak to you make me feel so calm and confident about what's going to happen in the u.s regulatory circle i do have a question which i i guess i want you to speculate on and that is do you think that by the end of 2021 we won't hold you to this and we know that you are pro so we know that your vote uh with the right structure and the right product is going for a yes because we read your your your public descent and many other pieces but if you were a betting person would you say that by the end of 2021 we can't expect a bit quantity you know there are too many variables as i said i think the the the specifics of each of the applications matters and and i haven't had a chance to to look at those um in detail and you know as i said i think that the chairman the chairman change does make a difference in this as well so i'm not going to bet was was jay clayton was jay clayton against crypto i mean now he's he's out of the he's out of the commission and i mean it seemed like he wasn't the friendliest crypto person in the world like was he i mean we won't tell anyone if you tell us well i think i think i'll let him speak for himself but i i will say that you know again i wish i had been more more able to convince him to and it's not just about an exchange-traded product it's about providing some clarity around crypto and i i wasn't very successful in convincing him um so i guess you can you can read into that what you want but again he can speak for himself how high up on the agenda is regulatory clarity on crypto versus all the other things that you guys have to work on i mean there's so much going on at the sec there's so many other products where is crypto in this hierarchy and has it changed since the prices have been going up and the interest has been going up and now it's becoming i mean it's a trillion dollar plus asset class at the moment yeah i mean i think the fact that there's there's greater interest um not only among retail but among institutional and among the entities we regulate i think that does push it higher up the agenda but you mentioned gamestop and the events around around trading and those meme stocks that's opened up a whole new investigation on our part we're working on a report on those events and then thinking about whether any potential regulatory changes come out of that so that's that's going to be a big thing and there are a lot of other things i mean it'll be interesting to see the hearing next week because we'll get a better sense of what's on gary gensler's agenda and then you can kind of figure out from there where where maybe crypto will will fit into that but the chairman does set the agenda so that's really what determines where the where the sec will go that sounds amazing if i could ask you a favor if you could please chat to the chairman and just say to him crypto man ran from cnbc crypto trader and from banter asks if you could please move the bitcoin etf tell him that i don't think that the gamestop thing is as important at the moment that can take a back seat we need i think you're gonna have to talk to him directly yourself you gotta get him to get on twitter and then you guys can all talk to him amazing text me his number and i will i'll ping him and maybe we can give him the title of crypto dad well i already told him he was crypto great grandfather so i think we got to go with that one hester first it's been amazing speaking to you always i'm always smiling at the end of our conversations and this time is no different and as you can see in the comments the community just love you thank you for all you're doing for crypto we know that you're our person on the inside and that we've got someone there looking after our interest thank you so so so much well this has been fun have a good rest of the day thanks thank you so much wow i love speaking to her she is just why can't they all be like that i mean why can't all regulators just be like commissioned i mean she's so fun she's so straightforward she's so rational in her approach we need more of that guys if you think that we need more of that do me a favor smash that like i seem to be only on 575 likes there are 2 000 of you watching this live and we just had a commissioner we had a commissioner sitting commissioner at the sec come and talk to you guys and make us feel amazing all i'm asking you to do is just give us some love because that is what shares this and i want more people to hear what commissioner hester per said smash smash smash smash smash smash those likes i'm waiting for you guys because i've got a big surprise for you i've got a guest for us who is bringing us a whole lot of calls of what he is buying in this dip if he's buying anything and if you want that guys smash that like button fred how many likes if we got okay fred's checking the likes for us come on fred ooh okay fred says we got a thumbs up we can go we can bring in our man the man we all love and that is of course coach k what is welcome back what is everyone doing coach i'm starting to get worried man you know i run a show every single day and i work hard every single day to bring the community crypto love crypto wisdom and whenever i talk about my show whenever people walk up to me and talk about the show the only person they talk about is coach k oh come on now yesterday i must actually show you this yesterday i was speaking to one of my very good friends who i haven't spoken to in a couple of days and he said to me i said tim you know he said he said i know i watch your show every single day and i said i really that's amazing and you said you know i love like you didn't say anything about me he just said i love the guy with the bald head i like that guy coach k so i guess this is becoming very much like the coach k show the community love you i mean look at the comments coach k coach k legend coach k is the best remember that coach k is on tomorrow with his very own show we've got prestigious picks with coach k and that's going to happen just before my show because we don't want to that's going to be at 9 30 est because we don't want to interlap with a bit boy crypto show but despite despite that i thought i'd get coach k on today because there was a correction yesterday there was okay was bang like a mofo coach what were you buying i was buying so much yesterday i mean everything that i talk about you know we talk about dog we talk about ksm we talk about ada i talked about fala i talk about um adam and cake i actually did i have my own show as you know um so i actually did a video yesterday which came out i think like 14 hours ago or something like that which went over what i was buying on the dip so i was talking about specifically these are the coins i'm looking at these are the ones that have good setups technically these are the ones are just going to bounce because they're down so much and we were looking at stuff that was down like 40 50 60 percent that obviously is a very good project and was pushed down a little bit too much from one specific thing and that's panic and that's that's panic is i'll tell you guys one thing panic the reason you feel it is because you don't have a plan so you go in your trade you're like i'm gonna be a millionaire i'm doing so well all the stuff's going up so you go and you start buying all this stuff and you're like i'm gonna be rich and you don't take any profit so because you don't take profit you leave it you don't put a stop loss on and then you get these dips and you're like holy crap now i'm down 20 and you start selling because you don't want to be down anymore so i think that really i'm not wearing pants you're right how did you know you caught me my coach i do i wear shorts mostly because it's hot in thailand but um you know it's just yeah they don't wear pants italian thank you very much she knows he knows where it is um but yeah like that that real one thing i always get i get all my guys my friends about it so much i'm like guys stop stop being you know you know i'm not gonna say the words because i know we're not supposed on youtube so don't be that guy you know and they're like man but i'm like so stressed out i'm like guys when you make a trade click three things in your mind number one where am i getting in where am i going to stop out so i'll take my loss and where am i going to take profit if you have all three of those things you'll never stress out you'll never panic in a dip you're a stop out and that happens and it is what it is um but yeah stuff i was looking at yesterday and stuff i'm looking at today i'll share my screens hold on a second before you share your screen i'm looking at the likes there are 2 000 people watching us live and then 917 likes i don't think that we should do any calls unless we get likes so i'll see you tomorrow for your show 9 30 a.m est guys smash those likes i've got coach k for you and he's going to give us calls right now he's going to tell us what he's buying this is invaluable let's go go go smash smash smash those likes coach let's show you i see that the guys are now smashing their lives come on guys you can do it i can see we're just going over a thousand likes well done to you guys let's smash it let's break this algorithm let's share this content with everybody in crypto because they need it coach let us look at what you are buying i'm adding you to the stream okay here we go right so first one yesterday i talked about what permission macro question yes do you think that we've seen the end of the blood not even well me okay i think march is always a bad month but we have a stimulus coming so we have some factors we haven't had in the past so i'm actually playing level by level because of that stimulus otherwise i would be sitting a little bit more out of the market right now i'm kind of partially out partially in um so i did take profit on the way up and i knew that we were eventually going to dump and i did expect this kind of overshot and then dump and we kind of got right back to that level i was looking at so east east was a good place to buy it around 1475.
I talked about how we had a high over here that we didn't retest we retested it finally so so as you guys can see this is a daily chart that was on february 3rd we didn't re-test all the way to the 23rd so to be patient patience makes you money another one i looked at yesterday beautiful setup on on every other level i mean look at how far it's gone up i can't even see the chart anymore don't you just can't see that that close that's is that bnb that's bnb so this is just a basic straight up trade setup we have a perfect keygen bounce we came back the keychain was flat i told you guys it acts like a magnet so think of this red thing right here as a magnet when it's flat so it pulls the price down so pulled it all the way back down here this was a perfect entry around 190 200 and i do foresee this continuing and breaking out of this downtrend right here and going higher i i see bnb not stopping because of bse and because of bse we'll just continue on and go to cake so cake obviously um i don't know why it's showing on tether so weird but cake started i'm just pull up the usd words version of that because that doesn't look right okay so cake was way down here um on a for on the daily time frame again a kitchen bounce so flattened out again we get that same magnet happen where it flattens out pulls it back down we have a really nice looking uh hooking up tenkin kijin still thought that's good bounce go higher so that's what i'm seeing with this so a lot of these i'm expecting to go much higher i think cake will be over 20 again um i think ewt is one that's like so ready to go so we're looking again another kijun bounce so guys if you've never seen a keychain bounce before i'll just go through it you're above the cloud is checked number one on the bullish we're above the candlesticks with this level which is our chico spin and we had a tk cross that was bullish way back here so it's a bullish chart um we're in a bullish territory and we're bouncing off the kijin which means we bounce off the red level when it's flat and then we generally bounce and go higher so we see that as well evt we also see this on uh their daily chart uh for btc we're seeing that it's kind of just getting into the cloud and if this could bounce we could see it go all the way to the first edge is at 35 36 000 which is like a 20 30 percent gain from where we're at right now so hold on which token is this this is energy wave i need your webs token sorry yeah ewt and another one that i've been looking at and i've been in since way way down here right this where this uh purplish looking line is and re-test was icx i talked about this before i still see it on the uptrend and you know even with the dump it just dumped and re-tested the key the kumo top right here so broke about came and retested i think this is going to continue going higher as well so there's so many nice trade setups like fala as well i'll give you my number one trade call once you guys give me a hundred more likes um give me a hundred likes guys guys we have uh i'll give you guys the all-star trade and it's it's one of ren's favorites too but thank you okay okay let's go let's go coach is funny smart and handsome we love coach we love her i love you guys you guys are so funny man i swear i love the script like crypto community is the greatest like they'll be your best friend when you're right but when you're wrong they'll let you know they'll be like you were wrong it's like the one time you could be wrong if you're like when you're right when you're right you are right and everybody is friends with me when you're wrong they'll let you know they'll let the sec know they're literally love the honesty i love the honesty really like it's it's the beautiful thing about this industry where people actually are really honest uh they're not backstabbed but they they do backstab you but like people are much more straightforward which is nice all right we do have the hundred packs that you can talk about let's go we got two more number one follow okay so i talked about fala it did its whole trade right here 100 beautiful now we're looking at it again for the same exact trade setup so here we had a kegen bounce flat kijun bounced and went higher what is going on metamask okay and then we got a flat cage in here i know it's kind of a little bit hard to see so i'll just zoom in a bit we had that flat cajun again it pulled it down and tested it twice three times i think that it's gonna also go higher so i'm seeing that same trade over and over again and guys trading is boring okay if you're a good trader this doesn't excite you i wish i had a sister to marry coach and have little coaches [Laughter] you just won yourself 50 dollars worth of tokens i mean i i mean that is amazing fifty dollars worth of tokens to il um thank you for making us laugh i'll give you my i'll give you my all-star pick for the next three weeks four weeks it'll be ada and i mean you called it last month and you were right but but i'm hearing things i heard from a couple buddies of mine that this might be going on a very large exchange and there's only a few i can think of so if if it is going to finally be on a larger exchange than binance then i'm really excited about that and the chart tells me that it's it's that it's going somewhere because if if that information is correct that i got and i don't know it's unconfirmed so i don't want to create fud or any or fomo or anything but if that information is correct it's why this chart looks the way it does and what i mean by that is this do you see these huge wicks always coming down and then going right back up and closing higher that is telling me that people know stuff on the inside you can read a chart and know what people are actually know what they know okay and once you do this long enough you'll start to realize you you can tell what people know or what they don't know because of what's going on and this chart tells me that people know stuff because every time even in a really bearish move it got pushed down it bounced and came back higher and like this is still a super bullish chart for what happened to bitcoin just two days ago so i'm looking at this and going some people know something this is probably going to have some big news coming but it also has a extremely bullish chart so i'm thinking that ada will probably be and guys i'm serious and by the middle of march even with a march downturn i still think it'll be a buck 50.
I really do and it could be higher you gotta beat bitboy who says it's going to be a nine dollar token bitcoin labs it could be but not i'm talking like more in the shorter term i think 88 is going to have a really nice push higher and um if it does follow suit with other things that i've seen with coins that get listed on really big exchanges we could see it go really parabolic especially with knowing one factor is that in a bull market whatever positive news you have is exponentially more positive i mean we saw super we saw l pool do 400 x 150 x for super we're seeing market movements like we did in the last bull market and even if we have a down march i still think all the new projects are going to come out and they're going to come out bullish all right tomorrow i'll tell you two new ones tomorrow we got coach on at 9 30 a.m est we will publicize that tomorrow and then friday we banter and coach is always part of our banter so i mean coach is part of the family so coach thank you so much good night we'll see you tomorrow guys if you enjoyed the show and you're still here give us one more like hit that bell button make sure that you catch us tomorrow because tomorrow lots of programming right here on cryptobanter.com if you are trading guys it's still risky out there there's still volatility so be careful trade well buy things that can only survive a bear market don't buy anything that's not going to survive a bear market and if you're not part of our telegram join the telegram because i posted a lot of trades in the telegram like this morning i posted that i'm buying open dao and i bought open data about 1.15 and now i think it's much higher than that so keep following us and keep drawing your telegram i'll see you guys again same time same place tomorrow 10 a.m est i'm crypto man run checking out if you're trading trade well my friends crypto banter is a social podcast for entertainment purposes only all opinions expressed by the hosts guests and callers should not be construed as financial advice views expressed by guests and hosts do not reflect the views of the station listeners are encouraged to do their own research