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Market Talk: Alt Season going crazy !STOCKS BREAKING ATH! 48k btc Inc?
Recorded: Dec. 19, 2023 Duration: 1:15:10Space Recording
Full Transcription
What's going on, guys?
Loud and clear?
Mic check, mic check.
Well, it's good, man.
All right.
Feeling fantastic, man.
Great to be back here with you guys.
Unfortunately, yesterday, I had some dominoes on Sunday night,
and it didn't really digest well the next day, man.
So apologies for that, guys.
Apologies for that.
But, you know, I'm back better than ever.
Amazing day, man.
Amazing day.
We have a lot to discuss.
When it comes to all things markets, welcome back to the show, everybody.
S&P, new year-to-date high.
IWM, finally, after months and months and months and months debating back and forth with everybody
when IWM was going to rally, and here we are, IWM, a fresh year-to-date high.
And anytime we have the IWM, you know, climbing higher, higher, and higher,
we tend to have a broader crypto market rally.
So, you know, we're seeing Bitcoin kind of chop around at, you know, from 40.7K all the way to 42, 43K.
So, you know, it's a bit odd, right?
We're seeing this price action on some of the majors, very similar to what we were experiencing in September.
Of course, we do have some outliers like Celestia and Say and Injective, right?
Some of the names that we've been discussing here on these spaces over the last 12 months.
And, of course, Celestia is my baby still.
We're seeing some of those names pop up, but we haven't really seen much follow-through with Ethereum
in regards to outperformance compared to Bitcoin or even Solana, man.
If you guys take a look at the Solana ETH chart, oh, man, Ethereum is just getting its head kicked in relentlessly.
And, you know, even when it comes to that meta of, you know, on-chain memes and on-chain gems
and all that stuff, a lot of that volume has just been killed off.
And, you know, we're now seeing Solana DEX volume higher than Ethereum.
We're seeing people even go to AVAX to the point where, you know, people are paying hundreds in fees
for transactions on AVAX because of inscriptions.
And I think that, like, people are just so bored now with, you know, the incompetency of Ethereum's tech
over the last couple of years that people are just doing anything to get yield.
We're seeing ordinals doing fantastic, right?
I'm going to give complete, you know, disclosure, disclaimer, whatever you want to call it here.
I have still not partaken in anything Bitcoin on-chain.
I'm still, you know, holding on to my thesis that, you know, I think Cosmos is going to be delivering
a lot of great alpha for this cycle.
So, you know, we have Dimension coming up.
We also have Monad potentially in quarter two.
We have some other modularity stacks coming out on quarter one and quarter two, like Eclipse
and a few other names that I'll probably mention sometime next month when they're closer to their release date.
But anyways, I hope everyone's doing all right.
I hope the charts and candles have been on your favor.
As always, guys, the space is recorded and anything that you hear on this space outside of narratives
and all that stuff and news events should be taken as dubious speculation.
Nothing that you hear on this space when it comes, you know, to our picks or anything like that should be considered financial advice.
Please consult your own financial advisor before putting a single dollar into any of these assets
and only invest what you're willing to afford to lose and also train your stomach
because if there's anything that this market is going to teach you, it's going to be, you know, how hard is your stomach, right?
So, can you deal with the pain of selling too early, right?
We have Tucker here who sold his knee on – he sold his knee on a bit too prematurely, isn't that right, Tucker?
Hey, man, hey, I sold it for a 3X, brother.
You sold it a bit too prematurely.
Tell the audience, man.
It was still a 3X, Wavi. It was still a 3X, yeah.
I'm not able to hear Tucker, by the way, guys. Is he speaking?
Oh, no. Hang on.
Yeah, he was speaking.
Oh, man. Don't tell me X is having issues now.
I'm going to bring him up as a speaker.
Let's see what excuses he has, man.
Tucker, you there, brother.
Wavi, Wavi, Wavi.
I sold neon for a 3X, brother. It is what it is.
It was one of the funniest timelines of all time, though.
I literally – I was talking to Wavi and I was like, hey, I'm going to go farm some of these airdrops.
And the Solana DeFi ecosystem.
And I'm probably just going to sell this neon for a 3X and go do that.
And he's like, oh, you're good, bro.
Neon's not going anywhere.
And then the next day, a 30% candle.
I would say it couldn't be funnier, man.
No, but I'm happy with it.
I'm happy with it.
But, yeah, neon did rip for you.
Yeah, but either way, like, that's the thing with this market.
Like, you could make those 3, 4, 5X quick profits.
But, you know, there comes a point where some of these assets just stop moving against the market, right?
They go into this consolidation period and then, boom, you know, it goes up 200% right after your selling point, just as a neon did, right?
But that's the thing.
Do you have the stomach to sell a bit early?
Do you have the stomach of opportunity cost and missing out on a ticker that was right in front of your face, right?
Can you deal with not selling the top and you end up selling, you know, 30% away from the top, right?
And you're thinking on the way down, man, I'm going to wait for the bounce and sell.
I'm going to wait for the bounce and sell.
And so you end up just having more drawdown than you would want to realize.
But anyways, man, I'm here joined by some of the guys.
I'm here joined by Josh, Jackis, and Tucker.
I'm going to get some thoughts from Josh.
I know he's doing some traveling right now, and I know the time zone difference is a bit different for today, man.
So, Josh, what's going on, brother?
How are you?
I see the D-side space is making some waves, man.
And, you know, next to modularity, it seems that, you know, the centralized science space is going to be one of those narratives that kick us off going into 2024, 2025, brother.
And glad to be here with you again on these spaces, man.
Yeah, man, I'm going to sound a little bit under the weather because, of course, I would travel across the world and get sick.
But, dude, Munich's awesome, brother.
I've been enjoying it.
I'll be honest with you guys.
I haven't paid attention to anything with the markets over the weekends.
I've been just enjoying some nice German beer and just sightseeing with my fiancé and family.
So, it's been an awesome time.
But, dude, D-side has been awesome.
It's having a little bit of a pullback with the rest of the market right now.
I think that's been anticipated.
We had a massive, absolutely explosive run-up because of CZ.
And then I was still expecting about a 20%, 30% pullback.
I still think the ETF is going to get denied.
But, you know, I still think we can push up here soon.
It was just due for a retracement at this point.
It had been eight weeks up only in those market conditions.
And like you said, you saw the IWM, Russell 2000 is, you know, setting new all-time highs, I believe.
You know, stocks are up.
Everything's up.
And you have Biden and everybody.
Biden's what comes out and is like, hey, I'm going to help you buy $500,000 homes and issue $125 billion in the real estate market.
So, they're just doing everything they can to pump up those markets for election year.
But, dude, I'm enjoying it, man.
I'm excited.
D-side is probably the most hyped I've been for in crypto.
So, I think we've got a huge space actually coming up on the 21st here with Bing X Ventures and like six of the largest D-side projects and organizations out there.
So, that's going to be absolutely phenomenal.
But it's really cool because this is the first time in the space and just in the industry as a whole from at least my shoes and just where I've been.
I mean, there's been a lot of breakthroughs and, you know, technological innovation that's existed.
But being able to actually see, you know, in real time and like call these scientists in their laboratories and see what they're doing with like tracking DNA sequencing within fruit flies and converge that over through AI and blockchain to find like a cure for some kid in Africa.
Like the things I'm seeing in this industry are just absolutely mind-blowing and it's like it's really cool to see our money, you know, because at the end of the day, these are startups, right?
That's what all these people don't want to.
They never wanted to admit that in crypto.
But every altcoin is a freaking startup and being able to see crypto used in a decentralized manner at a scale, of course, or a meter, but allow scientists in these universities and laboratories to communicate and research and work together globally for the first time since well before now the, you know, the Second World War is absolutely phenomenal.
And, you know, there's going to be a lot of obvious, you know, startups that don't make it, but each and every single day I'm talking to new and brighter, you know, PhDs, Nobel Prize winners and being invited now to go to like Panama in just a few months to like sit down with these people and watch this happen on chain with crypto.
And the beauty is people don't need to know about that, right?
It's, you know, Pfizer and these big pharmaceutical companies, they're entering into space because they've, you know, kind of shot themselves in the foot.
They painted themselves into a corner with all the lobbying they've done.
It's actually kind of centralized them to a point of failure and they have no other option here if we want to, you know, break out of this innovation stuff.
So I really think it's truly a public good and service that's going to develop and we're going to see some of the greatest discoveries of our, you know, of course, of our generation, of our lifetimes in this next decade.
Due to a lot of AI and blockchain crossovers.
So, dude, I'm stoked for it.
It's seriously really cool to be a part of and I'm all here for it.
Man, and, you know, talking about the election and all that stuff and Biden, not to get too political, but he tweeted about the stock market a few days ago or his assistant did.
And, you know, the last time that that happened was with Trump.
And, you know, anytime he would tweet about the stock market, we would just rip hard.
And, you know, here we are, IWM with a new year-to-date high and we're getting into an area, you know, with some of these low-cap stocks.
You know, they're making 52-week highs.
And, you know, if we truly think that IWM is going to continue to rally on from here, then, you know, going into Q1 seasonality for the crypto market, perhaps, Josh, and I'd love to know what you think.
You know, perhaps we won't really see 38K, 37K being retested until, you know, after this next surge, given how delayed the crypto markets can be sometimes with the stock indices.
But, you know, when we talk about Max Payne, man, wouldn't it be something if, you know, we can tap 48, 49K going into these approvals?
And then, you know, boom, we have a quick drawdown, a quick 8K, 9K drawdown.
And then we just rip after that.
Everyone thinks it's over.
They set their shorts at 39, 38K.
And then we go on to fulfill the Jack is Prophecy, which is at 60K, 58K.
I'm kind of thinking, like, you know, I don't think it's going to be that easy, right?
Where it's just going to be, all right, we're going to pull back right before the ETF and right after the ETF, you know, we're going to get to these new highs.
I kind of think that, like, the market might – it might give us a little trick, man.
I mean, look, anything can happen election year.
And, you know, at this point, I think every economist's degree needs to be thrown out the fucking window because they were all completely wrong and just argumentative last year.
I mean, we're watching some of the world's best economists just argue back and forth on what was going to take place and what wasn't going to.
And I think Max Payne here in crypto, it's just funny.
I'm honestly exhausted from the influences in this industry.
It's just – it's repetitive at this point.
And I think Max Payne would probably be, like, 39K because what happens is you'll see 39K break and then they'll all fucking draw their magic squiggly lines and act like they know TA with their, you know, eight months of trading view experience.
And, you know, they're awesome – you know, maybe they had a few good trades in their lifetime.
Great.
Well, most of them sold to bottom.
Most of them are on the sidelines now and won't admit it to their audience.
And now they would scream for, you know, okay, 39K comes, great, 34K is next.
And they still never buy back into this market and they just completely emotionally depress their audience.
So I think that would be the Max Payne.
And I'm here with Jaxus on the side.
And I think, you know, I'm really glad I honestly found you guys a space.
I think this is one of those spaces that I think all roads and research, even though we all come from a lot of different perspectives, like especially Jaxus' TA with the commodities.
I was watching Bitcoin miners and studying them for years at this point.
And, you know, always focus on Bitcoin miner and that energy consumption and the sustainable energy market to be this, like, progressive stance on Bitcoin and the trajectory of that for probably the foreseeable future in the next 10 years.
So that convergence and the, you know, seeing that actually take place over time, I've expected that.
And so I don't know if we're going to see that.
I don't expect that this year whatsoever.
But I would not be surprised at all if we did come back down to $39,000 quickly.
People still don't buy in and it slowly just shoots up towards the Bitcoin halving up till about, you know, $55,000, $60,000.
I think that's very, very probable, especially in a market where, you know, the Republicans, the Democrats only have one.
From my perspective, there's a lot of things they can obviously do.
But speaking from, like, how do you get voters back to Biden's side of the field, because right now they've been flooding against it.
He's been losing in polls month after month at this point.
It's a strong economy.
And it's, you know, him grifting hard enough and showing through the statistics that, hey, maybe we were wrong about Biden.
And it's very easy to manipulate a large audience in America.
We've seen it.
I've spent three days in Munich and, like, these cities are absolutely gorgeous.
Streets are clean.
There's no freaking homeless.
And it's like, dude, the people are grifted so hard in America at this point.
Like, I would not be surprised.
They passed $125 billion.
They prop up the real estate market.
They run up higher and higher up till the election.
And then if you lose that election, of course, guess who gets blamed on the following election cycle?
It's not going to be Biden.
Biden's going to go down in the history books as one of the greatest presidents.
Don't make it happen.
Whether you agree with that or not, that's just life and that's just reality.
So, you know, is that possible?
100%.
And then you have a strong Russell, you have a strong stock market, and I think that reciprocates right back over to crypto.
So, you know, for the people that are praying for that massive pullback or still, holy shit, a 12K Bitcoin, man, pull up your pants because, you know, they've been pulled down for like six months at this point.
You've been exposed for way too long.
And now there's, you know, people starting to, you know, just put on your shoes, admit you're wrong and move forward.
You know, and I wouldn't anticipate any recession till after the election cycle.
I just don't see a reality where the Democrats would let that slide.
Just presidential election cycles are historically just bullish for markets.
So, we'll see.
But, I mean, again, going back to just crypto as a whole, Bitcoin bullish, you have spot ETFs coming.
I don't think it's a matter of if, it's a matter of when.
I think people are way too, you know, too optimistic about the one passing with a 99 point.
Anytime I hear economists say, oh, 99.9% chance of approval rating, like, where are you pulling that out of?
Like, that's, there's no, there's no reasoning for that.
Like, oh, yeah, cool, they're meeting with the SEC more.
Great, they can meet the SEC 20, how many times has the United States bills been amended?
Like, 27, 28 times, right?
Like, we have many different amendments.
So, seeing them come in and amend, you know, the rulings for these filings three times is, I don't think, abnormal at all.
And I think they can easily push Cathie Wood off and move it till March.
So, you know, I've been just looking for that 20, 30% retracement, accumulating those altcoins.
And, you know, my strategy is I hope we can make it till January 1st, see a bit of a nice run up.
I'll take some pretty heavy profits that first week and then enjoy the ride.
You know, that's where, that's kind of my head.
Yeah, I'm looking at the Russell here.
And we're about 15% away from testing the prior bull market highs.
And, man, we have QQQ right at the all-time high.
And I think that, like, if you take a look at how the market was reacting when stocks were at all-time highs and crypto wasn't,
we can take a look at, you know, DeFi summer.
But I think given that we are still in a halving year, I think we can reference 2019 still.
We got a couple of weeks left.
And back in May of 2019, you know, the NASDAQ and the S&P and the Dow were all hitting all-time highs.
But yet, you know, Bitcoin was at 7,000, 8,000, right?
And then right after the Q's put in that last leg up, that's when crypto has that last leg up.
It's sort of like a deduction, right?
When the indices distribute, that's when crypto tends to have that last leg up.
And I'm sort of thinking, like, how is that candle going to look like?
And if we repeat that same sort of price action, then, you know, we could actually have a 10K candle to the upside before any sort of, like, mean reversion, right?
Like, short-term, right, my expectation for Q1 is 50 to 55K.
But, you know, we do have some other people that honestly expect, like, a lot higher than that.
But for me, base case would be 50 to 55K.
And then, like, higher expectation, and I tweeted about this on my personal page, would be a triple top, a deviation above 69K.
So 72, 75.
And then we just, quite frankly, we just bleed out for a couple of months, just as we did from July all the way to October.
I think that would be absolutely nasty, man.
Can you imagine that, Josh, right?
75K in March, and then we just bleed out for, like, four months, five months because the Fed is just cutting rates.
But I have heard some speculation, brother, that perhaps this time is different.
And I hate saying that, man, but do you think when that time comes, perhaps this time is going to be different?
And, you know, should Powell start cutting by 0.75 or even a full basis point that it won't really affect the market?
Or do you think, you know, history is just going to repeat itself and we begin to draw down after that?
Because the last rate cutting cycle, which was the second half of 2019, you know, the market drew down.
But by the third rate cut, if history is any indication, by the third rate cut, that is, you know, the next quote-unquote bottom.
And six months after that, you know, your buys are well into the profit.
Yeah, no, first thing is with the rate cuts, I just don't understand how a lot of people, there's so many people I watch that are, like, so bullish about that rate cuts are coming.
I'm like, just look at the timeline with stock market performance against the inverted rate of the, you know, the cutting rate of the Feds.
It's like the moment they pivot, it's because something breaks and stocks generally crash 20%, 30%.
But, you know, in terms of this time is different, I think this time, there's no, I mean, that phrase is definitely long-term use for the S&P.
But when you look at the stock or the crypto market, this is the first time we have institutional players.
And that's not, you know, you can argue that there was some minimalistic exposure over the last few years.
But if we get an ETF filing, that's definitely different.
This is the first time that the market's not ran by a bunch of uneducated dunce influencers
that are pumping their meme coins in shit bags.
It's like, you know, we have real exposure, real financial products that have a meaningful impact on the global economy and scale.
You can't compare that to previous retail cycles.
And I really, truly believe the whole cyclical four-year cycle, while that might still be quite an impact on this next cycle,
because I think it's a perfect marketing tool specifically for the financial advisors,
I really believe that that is going to diminish over time.
And it's not going to be as big as an impact.
And then the other thing you have to reveal about crypto, too, is if people, everybody in crypto believes it's going to emerge as this new asset class.
Once it reaches those levels, you know, you have to ask yourself, okay, not every altcoin is the same.
It's going to be the same as the stock market.
You're going to have the comparison to the Russell, like the top 2,000 products.
You know, you're going to have a top 100 DeFi portfolio, that type of stuff.
And I don't know which products those are, and I don't know if that's 5 or 10 or 15 years from now.
But, I mean, yeah, arguably it is.
And I wouldn't be shocked at all if you saw a triple top.
I do believe we'll probably blow past that expectation just because if an ETF is passed,
what more than likely I believe is it actually would make a ton of sense to see a triple top,
then crash again 30% after that before moving higher after five to six months.
I think we're going to see a very similar trading pattern to what happened with gold ETFs in November of 2004.
I've thought that since 2020.
Thoughts haven't changed on that.
I think that's still the overall outlook for the future.
There's no reason for me to believe Jamie Dimon and all these financial institutions just turned into good people.
Miraculously over the last two years after controlling more and more funds.
So, you know, I expect more manipulation.
I expect more control.
And, you know, for that reason, I just expect the worst.
Buy the rumors, sell the news.
And that's going to be exactly what we see with the ETF here.
So, if that's in March, that could be in March.
And that, again, correlates kind of perfectly to that halving.
But, yeah, I think it's naive to say this time is not different.
Unless we just get no ETFs and everything just goes back.
You know, we just get, you know, everyone gets arrested.
Brian Armstrong gets shut down and he gets arrested.
And all of a sudden, America just turns into all, you know, tyrannical authoritarian figures, which some people would say isn't too far off in the future.
But I don't believe that's going to happen.
So, yeah, man, I would have to say.
Look at just the SEC, too, and the CFTC and the way they're positioning themselves against crypto as a whole.
I'm someone that doesn't believe, you know, I think Charles Hoskinson has a lot of good points.
But in terms of Bitcoin, you know, getting a free pass from the SEC versus now Cardano.
But I don't agree with that at all entirely.
And I think Bitcoin is truly a commodity based off the proof of work and the consumption of energy and accessing that negative energy market and that utility aspect.
And I believe we have to be very cautious.
And this is why I'm advocating and working with these policy groups.
And there's tons of bills right now pushing through.
But people do not realize.
And I have this conversation a lot.
And it's not necessarily their fault.
And I know you guys have a lot of people on here that do understand this, like especially Joe.
I know Matt's in the crowd listening, too, and a lot of you guys up here on the panel.
But, like, if we label Ethereum a security or not a security, we label that a commodity or a digital currency, whatever you label it as, that automatically opens up the door to label up other products like Tron.
You know, you got to – this is not an easy issue to address.
And so while some people just want to open those floodgates because they think, oh, we're not a security.
Well, most of those people that are claiming that Ethereum is not a security can't even tell you what the 1933 Securities Act is.
Like, they just regurgitate it because that's what they've heard from somebody else.
So, you know, there's a huge playing field that is just getting started.
And that's why I look at that.
ETF is going to pass for Bitcoin.
Ethereum, I'm pretty sure, has a free pass.
It's just been embedded with Jay Clayton, the SEC, and just, you know, the NYDAG and JP Morgan and Consentus way early on.
You know, but, again, we have a long ways to go.
So, and as that starts – that narrative starts to shift, you're going to really start to see a lot of the – like, these high-yield projects.
And I think you'll – I hope, and I really hope to see this.
But a new division or, you know, committees put up that start shutting a lot of that down.
And you're seeing it.
I mean, look at, like, Dubai, too.
People think it's just America.
The ADGM in Dubai is pretty strict.
That's where Richard Tang developed it.
He's now the CEO of Binance.
He comes also from the Singapore Monetary Authority.
He's built really strong regulatory models.
And if they continue to – the path is towards regulatory compliance right now.
And some people think it's not – positions towards the United States.
I think everybody knows how this ends.
Within the next three years, it will be in control of that United States.
And that is the narrative we're focused on.
So 100 percent this time is different.
It's not going to be the same Wild West as 2013 or 2017.
God forbid we have another bullshit – I'm going to call out every single influencer that pushes some BS ICO that they're being paid behind the scenes or being airdropped tokens for ICOs.
Because I don't want to see that repetition that we saw in 2021 that's just going to wreck the investors again.
And, yeah, man, I really think we're going to see some really strong projects build out of this.
And, unfortunately, the people – the last thing I'll say here because I'm ranting at this point is there's a lot of certain founders and we'll say innovators in this industry that have been essentially idolized or modernized as these free thinkers and these – as these people – as these thought leaders of the industry that a lot of communities believe should have a free pass.
That I believe still need to be shut out.
Of course, I think a lot of you are going to agree with Tron.
One, I don't think – I think Justin Sun needs to be behind bars 100 percent.
Obviously, Richard Hart.
But I think there's going to be even people we are shocked to see.
And I don't know what communities those are.
But I think they're going to be attacked here by the DOJ as well within the next 24 months.
So we'll see how that rolls out.
And, you know, and speaking of, like, influencers and really just, like, how this cycle might be different, right, I sort of think that, like, we're treading on deep waters when it comes to things like ordinals, which is basically all coins and NFTs on Bitcoin.
I think you're basically – like, the market is basically saying, all right, the Ethereum project is sort of being canceled for the short term.
Let's try to replicate that same stuff on Bitcoin.
And so what I've been noticing, and I'm sure you've been noticing too, Josh, is that, like, you know, that same sort of, you know, griftiness is being replicated on Bitcoin.
Like, I had one guy, like, quote tweet me mentioning a bunch of, like, ordinals and stuff, just these random tickers, right, because, you know, it's a bull market.
So you're feeling enthusiastic and all that stuff.
So you tweet out, like, you know, I gave you this.
I gave you that token, right?
And so I did that.
And then, like, these two guys just tried to one-up me with these random tickers on the ordinals market.
And it's, like, you know, where have I seen this sort of bravado before, right?
And it's, like, it has to be the 2017 bull market, right?
And, you know, we're now experiencing $30, $40, $50 fees on Bitcoin to make a transaction, right, just to make a simple cent.
And it shouldn't be like that.
So, Josh, do you think that, like, you know, two years from now, whenever the top may be, that, you know, perhaps, you know, with this whole ordinals thing, it's encouraged, right?
But it just might take it a bit too far.
And I honestly think that something like this, right, should it be pushed out to a severe extent, could end up being what eventually, you know, takes Bitcoin down to its next correction, right?
Same thing as the way DeFi had an impact on Bitcoin's price, which it did, and many people don't want to take responsibility for that.
I feel like things like ordinals might be that next catalyst for not only the next top forming, but also make the case for a next bear market.
Perhaps something goes wrong with the inscriptions and people panic, and then you have, you know, your next 70, 75% pull back sometime in either 2025 or 2026.
I mean, it's a good question.
I think ordinals provide higher transaction volume for miners and makes it more profitable in the short term.
I don't know if ordinals are necessarily going to be what makes Bitcoin last forever.
That'd be more of a question towards the miners.
Right now we're watching hash rates hit all-time high, and that's kind of my focus point, is I think you're going to see Exxon's and ConocoPhillips, these larger energy providers, really start to utilize that.
And I kind of just relate back to what Satoshi Nakamoto said in 2010 in one of his email threads in response to someone that was arguing Bitcoin being thermodynamically perverse, which is that Bitcoin's value will always far exceed the marginal cost of production.
So, you know, I don't think Bitcoin is meant for the smart contract protocols, even though they're integrating Bitcoin VM, and you will see virtual machines and smart contracts and everything built on top of it.
I think there's a very big need for altcoins and, you know, like the innovations outside of Bitcoin's network.
I'm not a Bitcoin maxi at all.
So, you know, from that sense, I think that development will be there.
I think people just need to get to realize that, you know, there is going to be lightning networks and these layer twos essentially on top of Bitcoin and DeFi protocols that are built and developed.
That will essentially act as layer twos and make it quicker, make it faster and et cetera and cheaper to use.
But Bitcoin's underlying network itself, I really believe the biggest value is the proof of work and the energy consumption.
If you're trying to build a website on Bitcoin, I think you're just, I don't know you right now, there's nothing wrong against it.
Like, I'm not, you know, going to just bash on you for it, but there's definitely better protocols that are faster, cheaper and better and more scalable for that process.
So, you know, it'd be something I would have to ask a Bitcoin miner, like a HUD-8 or something, which I know you guys have had on the spaces.
I would want to get their outlook on what that means.
But if it means more profitability for miners, again, maybe that makes the ordinals themselves just that much more scarce and, you know, that much more unique in the future.
It could be anything.
NFTs are just, I look at them as collectibles.
So ordinals are collectibles to me.
So if, you know, maybe miners start picking up or, you know, really large Bitcoin devs start picking up specific ordinals, maybe you'll see, you know, kind of the same, you know, wave of what we saw with like Bored Apes.
And just paying that high transaction cost is what it takes.
And that's where your now digital art and money launderers are going to exist.
And, you know, if anybody wants to argue that art's not just the largest money laundering scheme in the world, we can have another panel on that because legit art is just rich people claiming.
And there's a lot of really good art out there.
It'll take thousands and thousands of hours.
But sometimes artists are just famous because some rich guy bought it and told his friends about it.
Similar to NFTs, right?
So, yeah, man, I really don't have a thought past that other than just Satoshi stocks with the marginal cost of production and the value always far exceeding it, similar to gold.
Yeah, man, I think this was a great talking point.
We can move on.
I have to hop off here, guys.
My fiance is looking at me.
That's late.
It's hell in Germany.
All right, brother.
Pleasure as always, guys.
I'll talk to you soon.
No doubt, bro.
See you on the next one, man.
All right.
Let's get some thoughts from Jackis, man.
Jackis, what's up, brother?
How are you, man?
How's your snowboarding trip going for you?
Hey, Robby, what do you mean snowboarding trip?
You were snowboarding, brother, on Mount Everest.
I saw those photos.
Yeah, but it was a week ago.
It was legit a week ago.
But, yeah, it was awesome.
I definitely enjoyed it.
By the way, love to hear you all, guys, and being here.
I just actually, you know, I just came from a football practice.
I had an amazing time.
It's always something I preach to people that you guys should really find a balance between
charts and life as anything, you know.
Because if you are going to do something too much, it can work for a little, you know.
If you're going to do it for a while, it's good.
But if you're going to do it for too long, it's going to consume you.
So I'm trying to find, you know, the right balance between charts, between work.
You know, sometimes people ask me, this is crazy, but sometimes people ask me, like,
what do you do for work, and obviously I tell them like this, right, but like, it's not really work for me.
Like, like it is, but usually when people think of work in a traditional way, they think of something like with negative connotation, negative emotion, right?
Like work, man, work, I don't want to do it, but when I do work, it's really chatting with you guys here, it's being at the charts.
Yeah, sometimes it can be, you know, a little stressful sometimes, although if you do the right risk management, it's pretty awesome.
So I'm looking, you know, I'm always looking like to, for the work, you know, as we joke around on the Discord.
So like, when it's Friday, when it's Friday, we are like, man, I cannot wait for the weekend, but then it's Sunday, you know, afternoon, and you're like, man, I cannot wait to discuss the charts tomorrow and see what's going on, and always love it.
Always love finding new stuff, you know, it like, it amazes me that I've been in the chart for so long and I still find something new to learn.
There's always something new to discover, and that's how you sort of know a, you know, someone might call it an addiction, I call it sort of love too, because, you know, when you love doing something, you will still like it after a while.
You will like it even after the hardships, and, you know, whenever people try something new, it often can be very exciting for the first, but, like, after half a year, after a year, people give up, right?
It's, I would say it's, I would say it's even within the crypto, right?
I've seen, after the last bull market, I've seen many accounts disappear, you know, they are not here anymore.
And I still enjoy doing it, so, yeah, happy to be here, Wabi.
If you have any particular questions, hit me up, but happy to be here.
We can just talk shop, man.
You know, honestly, I would agree with you that, like, there are a lot of people that find themselves in a situation where it's, man, I can't wait until Friday.
Oh, man, it's Sunday, now we have to, you know, go through the work grind.
And so what you're doing is, you're essentially, and, you know, I want to be careful with my words, but you're wishing for your life to pass you by.
And, you know, I would say, even after what I went through in 2022, you know, just, I found myself just, like, saying, man, this whole thing feels dragged out.
There's a black swan after black swan after black swan, all these guys are just LARPing about macro, when is it going to end?
But, you know, I find myself here a year later, and it's like, man, you know, I should have appreciated all of those conversations, right?
All of those rough conversations, right?
Because, you know, I think that, like, you know, when things get dark, right, that is when you should grab the wind behind you and show life what you've got, right?
Like, I remember during the pandemic, I was working, like, 80 hours a week, man.
And, you know, I remember, dude, like, those first six months were just brutal.
But, of course, given the bull market that was happening, you know, I found myself having that extra oomph, right?
So, talk about balance, right?
If you find yourself going so hard on something, you have to, I think it's putting things in perspective, right?
Like, why are you doing it, right?
Like, what's going to be the gift, right?
The cream of the crop on top of the mountain, right?
Like, once you get to the top of the mountain, what's next?
And I feel like when it comes to markets, I think more than anything, you should always have a plan, right?
And I think a lot of people are just going into this thing just saying, all right, I'm just going to see a, or I'm just going to wait for a green light for some influencer.
I'm going to wait for some, like, you know, economic chart to tell me, all right, this is when I can buy assets, right?
And I think, like, not to harp on about myself, brother, but, you know, I was looking at Celestia and all these other assets a year plus before they got released onto the market.
I think having a journal, right, has helped me a lot.
Like, just journaling your thoughts, right, whether it's a good day, whether it's a bad day.
And every month or so, just kind of reflect on how a random day of the week was, right?
It doesn't have to be much, right?
Maybe two, three sentences, four sentences, right?
And then, you know, a scale of one to ten, put down, like, all right, my workout was out of a ten.
I had all my meals, got my sleep in, all that stuff.
I think anything that you do in life, you should always have something to accomplish.
With myself, outside of markets, I love lifting heavy, man.
And just shit that makes me feel like I'm about to die, right?
Like, unracking five, six hundred pounds in a squat rack and just bending my knees as much as possible, right?
Picking up a heavy lug and pressing it for as many reps as possible.
And with anything in life, right, if you're going to do something, I think you have to be the best you can be, right?
Like, if you only have, you know, a job that pays you 15 bucks an hour and you're only working 30 weeks, I mean, 30 hours, be the best part-time worker you can be, right?
And outside of that, have another craft that you can work on just as hard.
Because I think that, like, everything that you do, man, even the simplest tasks like washing dishes, it sort of amplifies everything else that you do in life, right?
And, you know, with where we are in the crypto market, I find myself in a situation where it's like, all right, we have three balls out of the park, right?
We're in a third, we're in inning four of nine, right?
So, you know, we nailed Solana, we nailed Caspa, we nailed Celestia.
All right, what's next, right?
We have Dimension, Monad, and Eigenlayer.
And then after that, you know, you look back into your journal and say, all right, I did a 10x here, a 5x here, a 20x here.
Let's see if we can walk away, because at some point in the future, I honestly believe you will have your last trade.
Like, you'll click the buy button, the sell button, the ACH transfer button for the last time.
And, you know, if I'm being honest here with you guys, I don't really see myself being such an active participant in the market, you know, in 2026, 2027.
I fully intend for this bull market to be the last one where I give every inch of me to this market and extract alpha.
And I think talking with you guys has really grounded me to not, like, lose my mind.
Because if I'm being honest, man, if you're doing crypto and you find yourself alone, I think you're in danger, man.
I think it's pretty good to have a solid community around you.
But I'll stop there, man.
If any of you guys want to speak, go right ahead.
Jackis, Tucker, or Matt.
Jackis, you can go ahead, brother, if you want to respond to that.
That was all good.
It was a nice speech, Wabi.
Which I agree on in many, many things you said.
Like, you know, I love your enthusiasm and how you take the work.
Work, you know, you take it seriously, this cycle, a lot.
And you said that you want to take it rather slowly in the next one.
And I think that's a good, you know, taking a break.
But I think, you know, knowing you, I think you'll enjoy still being around these spaces, still talking, still, you know, learning something new.
It might not be as, you know, like, what I think might change is the work you do, but you will still be here, right?
You'll just not be looking maybe so intensely for the next new, you know, 100x coin or so.
But you'll be here chatting with us, discussing thoughts and so on, you know, considering you make it in the next cycle, basically.
So, yeah, but if you have any questions, guys, let me know.
We can let people from the audience hear if they have any questions.
This is a good day for that opportunity, guys.
Yeah, feel free to request to speak and we'll bring you right up.
But, you know, Jackis, if you follow Satoshi Flipper, you know, he's an individual that's been here for about three cycles now or two cycles.
I'm sorry, two cycles.
But he's been in the investing game for a couple of decades.
And I remember him from DeFi Summer before he had to, you know, take a multi-year break to take care of his family.
I remember him and also Mr. Biz from Spectre Group.
They killed the last bull market and they just walked away and now they're just buying majors, right?
And I think this is one of those cycles where, like, you know, you can give it your all one more time and then, you know, for the next bull market, just buy some of the trending names that released during the last bull market, right?
Like, I think Monad, should they execute whatever they're building for their paralyzed, yeah, paralyzed, I don't know how to say parallelized.
I think I'm pronouncing it completely wrong, but their parallelized EVM, I think, you know, that could be not this bull markets, but next bull markets, Solana, where you can, you know, write it up for a clean 10x for the next pre-having year, right?
At least those are my thoughts, that's sort of what I'm thinking.
I think some of these names that you're seeing now, I think they might survive the next bear market, but we'll see.
We'll see, right? We'll see.
I said the same thing about Luna and look at how that turned out, right?
Like, I remember saying at the peak of the bull market, like, all right, you know, I'm walking away.
I'll just buy Luna at, like, two bucks, but the way that I got the two bucks was through a catastrophe event, right?
And I went to zero, right?
Thank God I didn't, I did not actually, like, go on to buy Luna during that crash.
I would have been extinct.
But, yeah, that is my full intention, man, for this cycle.
So, I'm really not sure as far as, like, spaces go because I've never really traveled, man, right?
Like, I've never gone outside the country.
Like, my first flight ever was when I went to Kansas, right, a couple of weeks ago with Tucker and some of the other guys.
So, I've never actually gone outside the country.
And what I'd like to do, man, is, like, go on a one-year sabbatical, right?
Like, go to Japan, get a dojo, fill it with weightlifting equipment, and just be, like, a hermit for a year to two.
And that's no joke, right?
That's no joke.
Just be a monk, dude.
It's time, Wabi.
It's time.
You're young, though.
Become one of the strongest men ever.
But I guess we can, you know, touch upon Marcus a little bit.
And I see Matt here as speaker.
So, I'll pass the mic over to Matt, man.
Matt, what's going on, brother?
How are you feeling?
We see, we're finally seeing IWM, that new year-to-date highs.
And, you know, I remember I've been mentioning that on these spaces in September.
And me and Tucker actually did a video on this on the Because Bitcoin YouTube channel.
We were kind of seeing, like, okay, any time the Russell has ran this year where it outperforms, you know, the Qs, how does the broader crypto market rally, right?
And so, I'm seeing the same thing happen now.
But I think the context is that we're actually breaking a high that we set back in February.
And if you look at the way the Russell has acted since the top, this is kind of like, okay, if we close above, like, 205, right, on the IWM for the yearly close, then the case for new all-time highs on a nominal basis for Q1 could set up the entire crypto market cap, right?
Especially when you look at things like total three to insane new highs where we could see, you know, that 50, 55K Bitcoin.
So, I would love to know your thoughts on that as we get started here, man.
Was that to me or I left and rejoined?
I couldn't hear for a second.
That was for you, brother.
Oh, my bad.
Okay, yeah.
I caught the tail end of it.
But I think this is normal.
I think what we're seeing was what we expected.
If you recall, six months, eight months ago, you had plenty of bears saying, gee, I just can't trust this rally because it's only Apple, Google, Amazon.
It's only the, quote, unquote, Magnificent Seven.
And I don't see the Russell and I don't see small caps and I don't see mid caps rallying and pumping as well.
And that argument made no sense six and eight months ago.
And I kept pushing back.
You had that argument from, you know, just amateur investors and some professionals that would even hop on this space.
Like, I think, Michael Cantrell.
But that thesis, not to slam anyone in particular individual, it just made no sense because the market, they go and buy quality.
They go and buy safe assets.
They go and buy the blue chips and the names you know first.
You go, no one's taking a risk on no growth, low cap, no profit, never had a profit, may never succeed in the future.
They don't buy that first.
No, no, no, no, no.
They buy Apple at $100 a share at 19 PE.
You know, that's what they buy.
And you fill those bags first.
Then you go farther out on the risk curve.
So let's fast forward to now.
We're finally seeing the Russell catch up because, yeah, maybe these asset allocators already have all the blue chips they can stomach.
And they got to go farther out on the risk curve for gains.
Or maybe it's bears who, quite frankly, they missed so much of this.
And so they're forced to go farther out on the risk curve just to try to play catch up in the last fourth quarter and argue to their clients and their investors that, no, no, no, we didn't miss it.
Look, by the very end of the year, we have returns that are comparable to the SPY.
Anyway, but so this, I think, was pretty normal activity.
And, you know, if you listened, if you tried to calm your fears and listened six months, eight months, 12 months ago, you did quite handsomely this year.
You did quite well.
And if you're hearing this now, like, it doesn't mean the music's stopping tomorrow.
So, and so, but let's come back to Bitcoin and come back to this asset class.
I'm going to go ahead and put it out there.
I think I'm the only person who is really skeptical that the Bitcoin ETF approves and passes in early January, bing, bang, boom, just like that.
I don't hear anyone, anyone have a little doubt, have a little like, no, why should Gary Gensler just do the nice thing for all of us and give us this big green candle?
Well, why should Joe Biden, who no one trusts on any other issue, I'll point out, no one here actually trusts his word on any other issue.
But you think that just, oh, he's going to capitulate and he'll just, okay, fine.
He'll do, he'll do Bitcoin and crypto a solid next year.
Why?
Especially if you give any credence to the recent headlines of like Elizabeth Warren and et cetera.
They're trying to use Bitcoin and crypto as a scapegoat for financing terrorism.
We don't have to get into a long discussion of why that's all dumb, but nothing is in a vacuum.
And I don't want to, I don't want to scare anyone, but every time I'm the only one in one little crowd, one little group, a group of literally one, I think I'm onto something.
I was pounding the table to look in the summer, 20, 25 K Bitcoin looks like a double bottom.
And everyone was way too bearish and everyone was freaking out and trying to sell, sell for their measly 15 K to 20 K profit.
Like, no, no, no.
That was a double bottom.
And I think we're going much higher.
Well, here we are way up at 40, you know, 40 to 45.
I'm not positive.
I am not so sure that this ETF gets approved just because everyone else keeps retweeting that it's a 99% chance, 90% chance.
I heard from someone who's heard from someone who has a, who has a standing lunch date with an intern in the SEC office and it's a done deal.
So I'm not saying I'm selling any Bitcoin.
I'm not, I'm not, but I'm not over, over leveraging myself.
I'm not taking out calls with, uh, you know, 30 day, 60 day calls, just assuming that rips to all time high before, after the having, I'm, I'm being cautious.
I'm happy to sit in spot and watch this all play out.
But boy, I think some people are getting way over their skis.
Like this is a done deal.
Yeah, Matt, whenever you speak like that, man, um, I tend to pay attention a lot because I've been speaking with you for basically two years now, man, almost two years.
Um, I think we ran into each other in early February of 2022.
So, you know, I, I can recall a few instances, right?
There was in late April when Naka had that space.
And then we had some of like the guys from Tara, like their community, basically like curse you guys out.
And when I, when I saw that behavior, I'm like, Oh boy, this is probably not going to end well, isn't it?
And then when we had that crash on father's, um, last year, you know, 17 K is a bottom, you know, you want to ride this up to at least the mid twenties.
We got there and then you're like, Hey, we might revisit those lows and break them temporarily.
And then that's exactly what happened.
And then I remember you kind of went quiet for a bit until, um, like July before we had that CPI print.
And, you know, we rocketed off of that.
And then of course I remember that, uh, that legendary space that we had, I think it was on August 17th.
If you guys want to check that out, just go to our, uh, highlights tab.
We have all of our recorded spaces there.
If you go to the August 17th one, and then you go to like the 45 minute or hour mark, you'll see it like live.
Every one was, Oh, I remember that one.
Yeah.
You, this space, you had like three, 4,000 people in here.
It was, uh, quite a who's who.
Like we had more, we had more listeners in here that we flipped Ethereum's price.
If that makes sense.
Like I think Ethereum, um, was that like 1800, 1700?
And we had like 2,100 people, uh, in here.
It was, I think like, yeah, when it comes to like organic listeners outside of like, whenever Elon does his space, I think we were like right up there.
Like that.
Yeah.
It looked like it, it looked like a Mario space.
So for some context, if you missed that one back in the summer, this was when Bitcoin, uh, let's say flash crashed within a week from what?
31, 32 K all the way down to 25 basically.
And everyone was like, ah, it's so over.
Here we go to eight, all the 18 K and the 12 K bears came out of the woodwork.
And, uh, yeah, it was, it was, you couldn't, you couldn't pay anyone to buy Bitcoin that week.
And, um, you know, I wasn't the only one there was, there were some other, there were some other bulls, some other diehards that were like, guys, this is, this is just a retest of the same bottom.
This could be, this could be an excellent double bottom rebuying opportunity.
The rest of them, the rest of the world, uh, economy does not look like this is falling off a cliff.
And Bitcoin can decouple in the short term, but in the medium long term, uh, it tends to go up and, uh, anyway, but, but let's, let's, let's talk about right now.
Uh, we can talk about past glory later right now, right here, right now.
It really feels like so many people are just, uh, positioned like this ETF Bitcoin approval in early January is a done deal.
Like they're already pricing into their bags.
They've got some call options on it too.
I, I, I mean, unless anyone here, uh, has a secret hotline to Gary Gensler and his bed pillow friends with him, no one should be that confident.
Absolutely no one he's never, ever, uh, done Bitcoin or crypto a solid in the past.
And like, so to, to, to make the mistake this time when there's no, there's been no shift in the Biden administration.
They can't stop shitting on this, uh, whole, um, asset class enough.
Neither was Gary Gensler.
Okay.
He technically lost a case to grayscale, um, earlier in the year,
but that doesn't mean that they can't just push another Fugazi reasoning of why they will delay another spot Bitcoin ETF.
Um, so anyway, I'm not saying that, I'm not saying that you should sell,
but you should really, really rethink if you're sitting on a bunch of leverage
and, and you could possibly get liquidated at whatever X, Y, Z price.
You should really rethink that.
Matt, I actually think that Josh, uh, was telling us when he was on our, um, YouTube market check
that he expects the January meeting, uh, to get postponed once again until March, I think.
Joshua Drake.
Sure, sure.
And, and let's say that happens.
Let's just say, uh, um, we look back a year from now and like, oh, wow.
Yeah.
They put, they postponed in January, but then it did get approved months later in March.
Okay.
Well, the price is definitely going to sell off and be reflected by that.
So, you know, you can, you can be positioned to buy the capitulation.
Awesome.
Or you can be the one getting liquidated, you know, it's your choice.
So, well, that, that, that's, that's that, but you know, spot Bitcoin ETFs that we kind
of beat that horse to death.
We could talk, we want to talk about anything else.
We could talk about Bitcoin miners.
We could talk about, I don't know, having, what else you got?
I, I, I think, I think today was a pretty solid episode, man.
No need to look further expand on, um, any other topics, man.
I think, you know, we've been going for about an hour.
I think we can let, uh, some of the audience, um, come up.
If anyone in the audience, uh, wants to come up and ask any questions, um, to me, um, Matt
or Tucker, I see Jack is, has fallen off the panel.
I think he's going to go to sleep now.
Um, if anyone wants to come up, uh, feel free to hit that request button.
Um, I do see some familiar faces, not Tiger, um, Jim's team, cryptographer.
We have an organization we did for here.
Want to come up?
Well, if you guys want to come up, uh, feel free to hit that request button and, uh, I'll
bring you out, man.
But, um, let's have Tucker say a few things, man.
Tucker, what's going on, brother?
How are you, man?
Yeah.
Yeah.
What's up boys?
Um, I was just making some more, uh, some more coffee here, but yeah, I mean, I don't
really, I don't have any alpha on the whole ETF discussion.
I mean, you know, I don't know that meetings with the SEC really mean a whole lot.
It does seem like, you know, why would they meet with them this often if they weren't
going to do something soon, right?
But I don't know.
It's, it's all speculation at this point.
I don't, I mean, I think it would probably be more bullish over the next six months to
delay it to March.
Right.
But, um, it would be nice to, uh, eminently see like a 10 K candle, right?
That would always, that's always fun.
But, um, yeah, I mean, I guess in terms of minors, like I, uh, bought clean spark and
really rotated like, cause over the summer I was on the hut train, man.
I was, I was hut for life.
And then I, uh, quickly realized that that was a mistake and, uh, got on the clean spark
train at like, I got through to you.
Hey, you did Matt, you did.
All right, brother.
Well done.
The clean spark train is a, is a comfy place to be, man.
And what, what, uh, but don't, uh, let's, let's stay on that.
What was it that you decided, you know what, this, this hut position, this, my thesis, uh,
needs rethinking.
And then you made the change.
Yeah, well, it was partially the price action, but I, uh, myself and a buddy were doing a
little digging into just like their balance sheet and their debt and their, their margins
and whatnot.
And like pretty much everything I could find.
Well, okay.
I'll say this.
Like when I originally took the trade, it was pretty much technically driven and it wasn't
the only minor that pulled like a two X off the lows.
And, you know, I, uh, I hadn't really looked at riot or Mara and didn't really care what
they were doing, but I was just watching hut go from like two to four bucks and, and rode
that for a while.
Um, but then after I took some profit, it started coming back down.
I was like, all right, I should probably, uh, do some fundamental research.
And it really did not take very long to figure out that that was not a play that I wanted to
sit in for multiple months and or years.
So, um, I remember you had mentioned clean spark and so did some digging into them, uh,
you know, obviously like looking for beta, right?
So, uh, you know, I mean, you get beta out of riot and Mara obviously compared to Bitcoin,
but, you know, looking for even a little bit more and clean spark was a low cap and whatnot.
So, um, and then I asked my buddy, cause he knows, he knows a lot, you know, he does more
fundamental research, uh, into the miners than I do even.
And he was saying, you know, relatively across the board, they were, you know, kind of the
top of the class, especially accounting for their market cap, but top of the class in terms
of their margins and their, uh, you know, different cash flows and debt to equity ratios and all
those fun things.
And I was like, you know what, that, uh, that sounds a little bit better to me.
So if I'm, if I'm going to ride one for the, uh, you know, the next 12 to 18 months, I wanted
it to be one that didn't just have a good chart, you know?
So yeah, on the clean spark train now and, uh, enjoying it, but I know there's, you know,
they're not the only one that's a, that's a quality miner, but I am going to be interested
to see how they and others perform going into and out of the having, because I know that's
always a, a decent size stress test on these miners.
So, um, yeah.
What do you, what do you think about that?
Like, what do you think about like, uh, you know, how the having affects certain miners?
Yeah.
Um, no, that, that makes a lot of sense.
That sounds pretty solid.
Um, I had a really simple thesis, um, about a year ago.
Um, I, I wanted to look for Bitcoin miners that were, uh, keeping their debt low or no.
So low to no debt growing in the bear market.
And, uh, if they are diluting shares only, uh, buying assets and, uh, you know, increasing
their potential future profits if they're going to dilute.
So sure, a little pain in the short term, but longterm exponential gain.
And that quickly produced a very short list.
And I was very public with it because, you know, I want people to critique my thesis.
So I was banging the drum for like, well, uh, um, number one, I thought riot was the easiest,
safest play and then clean spark marathon and cipher mining and, um, pulling up the chart
one year later.
Yeah.
If you date it from year to date from right here, one year later, all of them are plus
400, 50, 480.
Like you could just throw a dart at one of those four and you would have got almost the exact
same gain plus a hundred.
Let's just call it plus 475 average.
Uh, and as we know, uh, Bitcoin, I mean, even if you round up, it's what 140, 150.
So you, you, you absolutely outperformed, but that was my, that was my thesis.
It was like, look, there's going to, this, this bear market in 2023 is going to separate
the players from the pretenders because the having you're right is coming, you know, just
like a freight train and it will take some of these miners out and put them out of business.
So who's growing in the bear market.
So not only do you survive, you survive, but you thrive as you emerge into the bull market.
So those four names, I thought very, very confidently, like, you know what?
They might not have the biggest percent gainers, but the big, but you're going to certainly
outperform Bitcoin for the least amount of risk.
So that was good to me.
Um, now, quite frankly, like, so great.
Uh, if you got yourself a bag back at way back when congrats, uh, now, uh, I'm sitting
on my hands and I want to say, I want to see who sells off and who emerges, you know, post
halving is coming less than what, less than four or five months.
Um, I'm sure every, I'm sure all of these stocks are going to be volatile and some may
sell off and we'll see, but there, there could be some absolute, um, buying opportunities and
discounts in 2024.
So I'm going to be ready for them.
Um, there's no, uh, you know, whether you're looking at CleanSpark, Marathon, Riot, Cypher,
all of them have absolutely ripped in the last, uh, uh, one, two months.
So, you know, it'd be ridiculous to just buy at the top of a massive green candle.
I hope you were buying a lot earlier than today, but there's gonna be opportunity in 2024.
So I'm just ready for it when it does.
Oh, we have them on, uh, from the audience with their hand up, uh, fat triple.
What's going on, brother?
Uh, triple fat, you there, brother?
Uh, go right ahead, man.
Uh, Tucker, is he, is he speaking right now?
I'm not able to hear him on my end.
Nah, I can't hear him.
I can't hear anything either.
Yeah.
Yeah.
Uh, it still says he's a speaker, um, on my end, but anyways, man, I think this is a pretty
solid, uh, place to wrap up.
I want to thank you guys, uh, for showing up to today's space.
We'll see you out tomorrow for market check at 11 a.m.
Eastern time.
And guys, as always, the space is recorded.
And if this is your first time here, my name's Wabi.
I host these spaces throughout the week, uh, at 420 or 430 p.m.
Eastern time, uh, here for you guys.
And, uh, we like to talk markets, right?
Dubious speculation when it comes to price narratives, news events, all that stuff.
So, uh, if you like what you heard, and, uh, this is your first time here, feel free to
give us a follow.
Feel free to give that giant yellow square, uh, a follow and a shout out to our discord.
And shout out to you guys that are coming from YouTube.
Um, our discord is growing quite rapidly.
So thank you all for the support.
Um, you know, next year is going to be pretty huge, uh, God willing.
Right.
I think, um, you know, we made it through the worst.
And if you survived, uh, up until now, I think 18 months from now, 12 months from now, you're
going to be a very happy individual if you're allocated appropriately, um, into the cryptocurrency
asset class.
So thank you all again.
Uh, we'll see you all tomorrow.
Take care and God bless you all.
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