I swear if Bitcoin doesn't move past this 19 100 200 300 I promise you I'm gonna stop doing shows until it actually starts moving what do you think Carl I've got to start it's got to do something it's got to do something maybe it'll do something this week because this week's actually quite a big week uh for macro and maybe the macro news will move Bitcoin also I've got a big story for you guys on ethereum I'm going to show you guys one position that I took in my portfolio a big position that I took in my portfolio this week I'm going to show you where I am in the trading competition because I made my first trade in the trading competition and then I'm gonna talk about two other altcoins so Bitcoin isn't moving but there are tokens that aren't moving so let's talk about the tokens that are moving let's do this [Applause] [Music] get the [ __ ] out of bed [ __ ] go get up wake up try to wake up [ __ ] get up up [Applause] [Music] we don't do the good evening good evening good evening anymore because too many people are complaining that it ruined their day first thing in the morning to hear that good evening good evening good evening good evening good evening good evening so we don't do that anymore we don't do it anymore so people are asking about dinner welcome back guys I hope you're well I hope you guys had a good weekend I don't know if you guys caught our weekend stream this weekend uh if you didn't you should go and have a look at it it was actually quite a lot of fun I got bit boy to come on the show on I actually wasn't going to get Bitcoin I was going to do it all on my own and then bitboy joined me on the show and we started speaking about his issues with SPF and I mean that's got a lot of traction in that video so if you missed that video go and watch it then the other one which you probably missed which you probably should watch is this one with Arthur has this one with Arthur Hayes the amount of alpha in the in the Arthur Hayes video uh last week was insane this guy's one of the smartest guys out there right he is so so so so so smart and yeah we're back Monday uh if you're new to the channel subscribe to the channel if you've been here for a while if you're part of the 90 what is the number this way 91 90 91 but 91 of people that watch us are subscribers which means that we are far far the most little crypto community in the world anyway let's do this I'm gonna give you guys the highest Alpha packed show per minute on the internet you guys are going to like subscribe and help us get unshattered banned by giving us good comments in the um in the comments um people saying big boy was huge yeah it was huge it was huge um I made my first trade in the training competition guys I'm not doing very well I mean I'm 135 in terms of the ranking but I mean I started I started uh what did I do in the trading competition I've only taken a trade on buy budget it's got a trade lined up for uh bit kid later so what have I done I've taken a long position on GMX um purely because it's been trading above the 40 range for a while it came below it so for me this is this is something that I want to be in and then I took a position on near which is a little bit down um I made a mistake again that I put two thousand dollars in my account and I only used four hundred uh one thousand four hundred dollars on margin if I hadn't I would have been twenty percent up which means I would have been one step closer to Kyle and Sheldon so Kyle is now number cars 19. yeah yes you're 19 in the trading competition I share your screen don't talk [ __ ] I want to see it don't trust verify don't trust verify Sheldon is third in bitkit Sheldon is third on bitkit and he is 18. um whoa okay so you are you actually are 19th listen what do you say we increase the the length of the competition I agree I agree we increase the length of the competition what should we do so should we say end of November I think end of November because then it's not like trading fast it's actually like real it's real trading okay so we'll extend it till the end of November so it's not too late to participate if you want to participate there are links below um you've got if you want to win you've got to use one of our referral links if you just want to play for Five Below then you can play for five uh here are the links for those of you who don't know where the links are right here click this link sign up with our referral links and then click here to sign up to the buy button or the bitkit for the US guys you can enter the video competition um when it asks you if you're in the US just just say okay I understand and just move on just move on um all right let's get into the alpha five minutes intros that's what I'm allowed to do remember smash the like button help us get this content out there um let's look at the market so Bitcoin has to make a decision now it has to has to has to make a decision now Carl says another one or two days until it makes a decision said next two weeks next two weeks until Bitcoin moves so it could be this because this is a massive week I'll show you why this is a massive week you've got the NASDAQ uh currently the Futures are down about three quarters of a percent the markets are not open yet there's nine minutes until the Market opens so let's wait until the Market opens our futures are half a percent um S P 500 features up 0.25 uh one interesting thing that you had is you had Hong Kong down six percent this morning so yeah the Hong Kong market down six percent why was the Hong Kong market down six percent first of all impressive that the NASDAQ futures are holding up so well with Hong Kong market down six percent what moved the Hong Kong market down was this I mean this is crazy [ __ ] but I mean this is what happened in China that's oh hold on let's let's actually go back so you can just so you can see it this is the X I think it's the ex prime minister and he's being forcefully removed from the cabinet as Xi Jinping takes full control of the cabinet again it's like get the hell out and then like he tries to talk to Xi Jinping and you can see it's like basically he's like don't touch the papers bro touch them outside you get out that's rough and then you see you'll see when he walks past and he he hits uh Xi Jinping he says sorry bro you got the wrong number she's like hello hello sorry wrong wrong number wrong number yeah I don't think anyone will see me ever again so anyway that's what happened in Hong Kong that is why the Hong Kong Futures were down six percent uh and impressive as I said that uh even with that the Hong Kong the the um the NASDAQ uh is about even then you're looking at the Dixie so the Dixie is still under the parabola but the Dixie got a bit stronger you see what that great green candle in the Dixie so we'll talk a little bit about why we got this green candle here in the Dixie um it's quite important that we speak about it it's got something to do with Japan so we'll talk about that in a second uh we've got a huge week why did I say we've got a huge recoil so Monday and Tuesday kind of non-events so PMI data from Europe not important General and speaking not really important uh U.S consumer confidence not important we know consumer confidence is an all-time low and there's going to be no news there it gets a little bit more it gets a little bit more um uh juicy on Thursday and Friday where you've got US GDP and ECB policy and then you got on Friday you got pce inflation so this is this is quite big so why why is this quite big so the first thing is um you've got US GDP you've got PC inflation and you've got earnings this week you've got the biggest earnings weeks on the on the on the calendar this week I want to just run you through what we can expect from earnings so from the earnings point of view this is more or less the week ahead as I said to you guys last week we've got Amazon uh on Thursday you've got Microsoft this week you've got Facebook this week meta you've got this week so if you look at the the companies that make up the the um the NASDAQ and you look so Apple reports this week Microsoft reports this week Amazon reports this week uh alphabet I think reports speak meta reports this week so you got 12 trillion dollars worth of market cap of companies reporting this week so this is the the biggest uh earnings week of the year now what are we expecting in those earnings week well quite simply if I look at all the Wall Street expectations for this week the theme is the same so what you're seeing is you're seeing turnover up so if you look at the revenues you're looking at revenues for example Apple the estimates are that revenues are up six point six percent year on year but earnings per share only up 2.4 percent year on year so that means that what the market is saying is that these guys never increased Revenue but slightly lower earnings then if you look at Google which is much worse they're talking about increased revenue of 8.6 but the profitability down 10 you're on year and the same thing for Microsoft so up 10 on Revenue but only one point eight percent on earnings per share so you can see there's a common theme here where the guys are saying look we expect you to get revenues up and that's because of inflation but we don't expect you to be more profitable um so massive earnings week this week um you remember that it's all about expectations it's not about what you actually report but it's what you report relative to expectations because if it was about what you actually reported this is what people have actually reported now if you look at the earnings per share quarter on quarter all of these companies have reported negative earnings per share quote-unquote but it hasn't moved uh their stock prices and that's because they declared this and because the markets actually um are preparing for this in fact the market right now is as I said I'm not looking at consumer confidence because I know consumer confidence is an old-time short an all-time low Market confidence is an all-time low you've got fear and greed down uh fear and greed down you've got um uh the number of puts so if you look at the puts remember essentially put to tell you how many people are short how many people are are um uh bearish on the market we're now at at um higher levels of puts than in 2000 and 2009 so this is in this Century this is the highest level of shorts and puts that are open on the market now in terms of the bear Market so where are we when it comes to Bear markets from a duration point of view this bear Market's actually in like almost a year old so it's 284 days old in fact it's it's the crypto bear Market is almost coming up for its one year anniversary and if you look at the drawdown well the drawdown's only 25.4 so there could be a way to go if we're going to be uh um uh relative to to to other markets it's also the first year well not the first year there's been one two three four other times in history or in in in in modern years research since the 1900s where you've had both stocks and bonds done on the same year so look at this so you've got both stocks and bonds done you got the 60 40 portfolio down 20 this year and that's unprecedented except for 1931 after the Great Depression so it's unprecedented other than the Great Depression so just to give an idea of this the spare Market that we're in it's no this is not a bear market for this is a serious serious serious bear Market um so that's earnings this week the next big thing that we've got this week is we got um we have the US GDP data and you've got a uh PC so the pce numbers a personal consumption expenditure numbers these are quite important numbers and the reason why these numbers are quite important is because this is what the FED uses to measure as their as their more reliable rate of inflation last time we forecast this to be 6.2 percent and we came in at 6.4 percent now the forecast is the same it's at six point two percent but I've got a feeling that's coming in at six point three percent all the stuff that I've been reading says that it's coming in at 6.3 if we get high pce inflation well then you know again the markets are going to react pretty badly because you have an fomc meeting at the end of the month and then chances are people are expecting pal to lift interest rates by 75 basis points now and then 50 basis points to the next meeting and then maybe even 25 basis points at the meetings off that but if we don't get the pce uh if the if the pce numbers come in and show that it's inflation isn't yet uh where it's supposed to be then it's going to get even worse um and then lastly this week you got the GDP numbers so remember the GDP numbers show the U.S GDP growth we've had two consecutive quarters of negative GDP growth so negative 0.6 and negative 0.6 and now we are looking to see what what the next uh for the next is and the forecast is a 2.4 percent increase in GDP I don't really believe it but I mean if you read the data the data says that well not 2.9 percent uh increase in GDP um I want I wonder I wonder if we do snap out of this if we're no longer in recession so let's see let's see what that is um cool so that's that let's talk about um I bought Chinese stocks today big sale yeah big sale big sale big sale okay um I'm gonna look at the Dixie and hope that the Dixie stays under this Parabola um and one of the things that brought the Dixie Down Below this Parabola was the intervention by the Japanese Central Bank which happened on Friday see over here they intervened I'll take it to the one-hour charts it makes a lot easier and you can see here that they intervene now how do they intervene what they do is they have dollars and they put more dollars in the market and they take Japanese Yen out the market and that's what they did they intervened on Friday they spent about 20 billion dollars to reduce the currency from about 151 all the way down to about 145. problem is that we're only on Monday and we're back at 149 so it's almost like the market doesn't respond to these interventions and if you look at the previous intervention let me try and find it for you guys here's the previous intervention here which happened at the level of 145 and they intervened and you can see that within a couple days we were back at the same levels in fact within about two three weeks we were back at the same levels and to make matters worse the economic Minister of Japan has handed in Israel his resignation so just to make matters worse it's not it's not looking good but the bank of Japan does have 1.5 trillion dollars to defend the Japanese Yen so they can continue to do this 300 times if they need to to get stability and they vowed that what they're going to do is they're going to continue to do this until they get uh stability the other thing that moves the Dixie is the pound and you can see that there was some action on the pound there was a lot of action on the pound earlier today when Boris Johnson said that he's out of the rush and now there's I think this this Rishi what's his name Rishi the news there's a new super issue they call him well you guys are calling him in the chat he's the the new he's probably going to be the new prime minister of the UK so let's keep our eyes open for that all right let's talk about um ethereum the big story around ethereum and what we've seen around ethereum is we've seen an indicator flashing green I want to talk about what the indicator means not only to ethereum but also to a lot of um Rishi sunak that's his name today so let's look at ethereum and what's going on in ethereum and why we decided to make a show in ethereum and this indicator that flash green on ethereum and that indicator for ethereum is the eth supply chain since merge so we're almost almost at a point since the merge where eth has become deflationary so you can see that as soon as we go below this line ethers become deflationary and that's a big difference as to if we were in proof of work so remember that the total East Supply change has been an increase in Supply by 2078 ethereum since the merge but if you if we were on proof of work we would have put another 467 600 and four Ethans into into the supply but because of the changed emissions in other words the slower emissions uh on ethereum plus the eip1559 which burns 75 of the gas used in every single transaction we're not at a point where we're almost almost deflation in ethereum and this is a big a big feat because it's not like a bull market where you've got a whole lot of transactions this is happening in in the midst of a bear market now what's driving this mean coins a whole lot of different meme coins on ethereum are driving this doesn't really matter what's driving what what it shows is that as soon as the usage on ethereum goes up even a little bit and the gas fees in fact like look at this now if the gas fees go over 15 gray okay so right now when we look at the gas fees the gas fees and if you want to look at your own gas fees it's etherscan.io forward slash gas tracker so right now the average East transaction is using 23 gray anytime that this goes above 15 gray we are on course to become deflationary so right now if this carries on in terms of usage we are on course to become deflationary uh which is amazing it's the first time that it's happened to ethereum since the merge and hopefully from that point on as ethereum usage continues to grow then the the East will actually be deflationary on top of that what I saw today was I saw that polygon passes ethereum in weakly active users third consecutive all-time high so polygon not only from a price point of view because if you look at the polygon price let's actually quickly get the polygon price yeah can't call it polygon to me automatic it'll always be magic I know to some people it's polygon but to me it's magic um so you can see that first of all there's been a 3X in this price but it's also held this price uh pretty well all the way since the 26th of July and that's because of an amazing Business Development effort by by the Matic team and what you can see is that it's starting to really really pay off so you've got weekly active users uh 2.27 million plus 45.7 percent uh transactions absolutely percent Revenue up 196 and what this this is showing you is that ethereum is becoming a settlement layer and the layer twos are becoming where the processing is actually taking place and that's what's going to make ethereum so powerful is that you're going to have all these ethereum layer twos arbitrim optimism you name them and then you've got or Matic Etc and then you've got ethereum is almost like the settlement layer and so when you put those all together it is true that these will probably do a hundred thousand transactions per second and then if that's the case then you've got to ask yourself a very serious question what is the point of investing in any other layer one protocol and that's what Arthur Hayes and I discussed when I when I in the interview go and listen to interview with Arthur Hayes because in his View it should be Bitcoin and ethereum and nothing else I'm not going to tell you why you should go and listen to interview anyway so um that's what's happening with Matic uh just to give an idea of how impressive the the their um uh growth is uh the consistency so it just keeps growing and growing and growing if you compare it to other chains so if you look at other chains uh medic was up 45.7 this week uh arbitrim negative 12.8 avax then this negative 12.8 is purely because of GMX and the reduced volatility and the reduced uh fees on on um on arbitrim um and you look at all the other ones you can kind of see this is really really really impressive uh fromatic so yeah that's that's one of the big things also Reddit users have opened 2.5 million crypto wallets after launch of the nft marketplace so that's that's huge another 2.5 million crypto users uh added to to the market cool so that's that uh there are a couple of other things and if you guys saw this Kathy Wood has admitted that she bought a whole lot of Bitcoin she bought a hundred thousand dollars worth of bitcoin at 250 and she's still sitting on them uh which has made us very happy but he um your question again I lost that dude what was your moment where you realized so I I put I don't think I've ever disclosed this before but I put a hundred thousand dollars in 250 yeah I don't have any Bitcoin that is uh is that 400 Bitcoin I don't even know and I wasn't counting at the time but but uh and I've kept it all but because as soon as he said that the leaders couldn't do it with the fund because we had to find a security and so this thing called gbtc which everybody knows now is grayscale Bitcoin Investment Trust um that had the one-year holding period and they were just cycling through that so this is the rules of your fund means you can't yes its can only own Securities and so we had to find one and we found Grace grayscale actually the it grayscale was one uh poor Catholic because when she started buying grayscale gresco had a premium and now that same premium is turned into discard so she's had a she's had it pretty rough she's had it pretty rough um I don't know if you guys saw it on the weekend that we had a huge pump from Aptos so I mean it was it wasn't an unpredictable pump we could have expected this pump because you're going to get the airdrop everyone's going to dampen the airdrop and then what's gonna happen is everybody's going to start buying Aptos again and the market makers are going to come into the market once the setting pressure's gone um we got huge volume on apples and if you were a market maker and you wanted to manipulate the price of Aptos to make the VCS uh um happier what would you do you wait for the weekend when there's low liquidity and that's exactly what they did they waited for the weekend they pumped the price of Aptos you can see though that the trading volume on Aptos was huge so what you can see is that the trading volume on Aptos was bigger than the trading volume on bitcoin and the trading volume on um on on ethereum and that's on by but interesting the same thing happened on FTX so on FTX uh you look at the the trading volume on on Aptos 526 million versus ethereum and Bitcoin much less net but also interesting when you look at that is you can see how much bigger vibrate is than FTX everyone thinks that FTX is like one of the biggest derivatives exchange and it's not private is a much much bigger derivatives exchange and to me also a much better derivative exchange that's why we put that that's why we've partnered up with barbit but what you can see is that while barbit was doing almost a billion dollars in volume FTX was doing about half of that why is that important because of liquidity you want to be on an exchange that gives you liquidity so you can exit your trades pretty easily and that's why it's good to be part of one of the biggest exchanges and that Trend I mean continues in the last 24 hours you've got um Finance obviously the king and then under that I saw okx which is a a surprise appearance but okay good then you've got Bible 10.2 percent then you've got FTX which is which is smaller than them so yeah that's that's the the access thing I don't know I mean would you be buying Aptos now for me as I say like 10 billion dollar fully diluted evaluation it means that you're giving the VCS a 5x return on their last round before when do you know anybody that's ever used Aptos Kyle have you ever used Aptos James have you ever used Aptos run have you ever used Aptos nope I don't even ever used Aptos I know anyone that's ever used Aptos um what else what else is there today Sam bankman freeze had an interesting few days I mean that's I don't know if you guys saw my my rant with bit boy on Saturday but she's gone you should go and look at it but I see I think he feels like he got unexpectedly attacked around this regulation and he's thanked everybody for all their contributions and whatever else except but boy of course uh and Bitcoin is not leaving him alone because now there's been a an exploit around the three Commerce API which is an API that plugs into a piece of trading software and a whole lot of people who apparently hacked and apparently it's been happening since the 18th so bit Boy again jumping attacking Sam bankman freed Thursday should really get room they should really really good room all right I did tell you that I'm going to show you a token that I've added to my portfolio in size I'm gonna say it's becoming it's become one of the the I won't say the top Holdings in my portfolio but something one of the biggest and the reason why I've started to stock up on it or the token that I've started stock up on is gains Network so this is gains Network this is G trade g-trade is a decentralized derivatives platform so it's like buy bit and it's like bitkit and it's like all those other exchanges like uh GMX um but uh and it's decentralized it's like Barbara and FTX but it's it's decentralized now what this allows you to do is the largest you trade a whole lot of different assets including Forex uh and I think there's about ten thousand is am I right they're saying there's about 10 000 different pairs um let's have a look here so um so yeah you can trade up to 10 Forex pairs with up to a thousand X leverage and what I'm seeing here is I'm seeing two things grow I'm seeing hey I'm seeing the user their user number grows now they're very very very very early in their user numbers when you look at their user numbers they're active Traders now now this is not the total Traders it's the active Traders is about 7 000 Traders how does that compare with say a GMX well GMX has got about 117 000 Traders I'm not sure how many of those are active um these guys have got about 7 000 active Traders uh the trade volume about 41 million dollars um that their total value locked was I think about 12 12 million or 13 million dollars but they are growing and they're growing super fast now the reason why I like this one is if you look at their market cap their fully diluted market cap because I think under 100 million dollars so it's 94 million dollars that's their fully diluted Market where if you look at a GMX it's about 500 million dollars so let's quickly look at GMX I think their fully diluted is about half a billion dollars so 481 billion a million dollars which to me I took a little bit of a bet because sentiment is right now on the side of of Gaines Network and I think it's just about to take off and that's why I I filled up my my portfolio with some gains networks I just thought I'd let you guys know it's not Financial advice but if you want to follow that's that's what I've been doing all right what else is there they are one or two other things um this is interesting uh B USD Supply is topping 20 billion this month for the first time ever and you know busd was never a real competitor for the stable coin Market it was always like usdt and usdc but it does seem now that cz's done all the right steps and one of the right steps was he he removed the usdc trading pairs on binance and that of course made be USD stronger so you should be watching busd obviously you wouldn't be buying busd but you know it's becoming one of those stable coins that's probably worth holding so yeah uh then Dylan declare says that there are some rumors of some big name miners in trouble because the hash rates are high and if you know the hash rates are higher hash rates are now an all-time highs and that means that it's harder to mine Bitcoin you need to spend more money on miners to mind Bitcoin if you do need to do that well then it means that it becomes more unprofitable for the miners to mine Bitcoin so you're getting rate pressure you're getting hash rate pressure Etc so maybe we'll get some minor capitulations who knows and then lastly Kanye West was approached uh or asked around Bitcoin I think he said the right thing he said I just don't know enough they get papers y'all making sure but as far as Bitcoin I'm just not knowledgeable enough to speak on that subject of course so I mean I think a good a good response I mean we should probably talk for a few seconds around Kanye West because I mean he's been canceled his his deals are being canceled Balenciaga have now uh uh said that they they stepping away from him his accounts have been closed JP Morgan all for making anti-semitic statements not you know what I'm I'm not for anyone making any interracial or anti-racial or anti-semitic statements and as a Jew I should be very very sensitive to say like that but it just shows you how quickly you can be canceled the more famous you are the easier it is for people to attack you it's almost like a an attack when everyone just jumps in and poor guy poor Kanye must be having a really tough time um cool I think that's it for today I remember that we are going to extend the trading competition so if you have an integer inter join us I think it's going to be fun okay I'm sliding down which means that the Market's actually coming down it's let's see I'm not actually coming down so much okay look Intel buy but intern bitkit tomorrow I'll do funding of some accounts um I'll do some funding of some cards I may actually put a trade in on bitkit because I made a mistake on buy but I think I won't make the same mistake on bitkit so join you can join us once you can join us twice we're going to extend it to the end of November which gives anybody that um is uh um anybody that enters now gives you guys a good chance to catch up to people like Sheldon and Kyle and all the other djinns who have managed to I mean this is this is excellent just shows you how good some of the Traders are in our community 473.65 now this guy could win ten thousand dollars if what if he doesn't do anything see now this is where it becomes interesting the strategy here is just don't do anything don't do anything bro that's the way to do it just don't do anything yeah I don't think so I think we didn't get sales into the last time did we maybe yeah two weeks is not enough we'll extend it till the end of October I'll let Barbara and Burkett know you guys sign up I see there's a 1187 people sign up on this one and probably the same one on bitkit um yeah help us get the numbers up the more people that enter the more people that win the more money we all win all right guys I'll see you guys again tomorrow until then have fun and trade well my friends hopefully tomorrow we get some volatility [Music] foreign
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