Latest / Earn Your Leisure / Cliff Notes: HOW LOW CAN BITCOIN FALL? & XRP UPDATE

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Cliff Notes: HOW LOW CAN BITCOIN FALL? & XRP UPDATE · Earn Your Leisure

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  Speaker 2: I've been calling bigco hit twenty thousand, so so was
• 1:02
  Speaker 2: that like fifty five If Michael Sailor gets margin called,
• 1:07
  Speaker 2: what effects could it have on the broader market in
• 1:09
  Speaker 2: terms of crypto and what kind of like contagion level
• 1:11
  Speaker 2: event could we expect for those who like retail investors
• 1:14
  Speaker 2: in it.
• 1:14
  Speaker 3: Well, the eighty five percent drawdown number is ten thousand,
• 1:17
  Speaker 3: three hundred, and that's the dirty number that we've been saying,
• 1:19
  Speaker 3: and people don't like hearing that.
• 1:21
  Speaker 4: And I made a tweet on Twitter. It's my favorite
• 1:23
  Speaker 4: place of tweet on Twitter. We made that joke.
• 1:26
  Speaker 3: But I made a tweet back in January and I
• 1:28
  Speaker 3: got crucified for it. I said, if you don't think
• 1:30
  Speaker 3: bitcoin can go below twenty k, then you must be
• 1:32
  Speaker 3: new here pepre like what an idiot bottom is in.
• 1:35
  Speaker 4: You know, price is.
• 1:36
  Speaker 3: Definitely going up now when you've got the YouTuber saying
• 1:38
  Speaker 3: that it's not so funny right now, is it? And no,
• 1:42
  Speaker 3: and you know we have been Twenty two thousand is
• 1:46
  Speaker 3: a very important number because that's where the two hundred
• 1:48
  Speaker 3: week moving average is, and when you look over time,
• 1:51
  Speaker 3: it's always.
• 1:52
  Speaker 4: Hit the two hundred week moving average.
• 1:54
  Speaker 3: It has wigged down to the three hundred week moving
• 1:56
  Speaker 3: average before, which I don't quite know what that number
• 1:59
  Speaker 3: is off the top of my head, but twenty two
• 2:00
  Speaker 3: thousand could be a potential for a bottom. But we
• 2:04
  Speaker 3: targeted twenty four thousand, five hundred would kind of be
• 2:06
  Speaker 3: the first level and now he pierced through that. Now
• 2:08
  Speaker 3: we're looking at twenty two thousand. After that you go
• 2:10
  Speaker 3: to the psychological level of twenty thousand. After that strong
• 2:13
  Speaker 3: support at seventeen thousand, then you have fourteen thousand, ten,
• 2:17
  Speaker 3: and then under fourteen. Now you're going down to ten
• 2:19
  Speaker 3: and then after that, like all bets are off the table.
• 2:21
  Speaker 3: So the answer to your question is, I'm not worried
• 2:24
  Speaker 3: about Michael Sailor if the price gets to twenty one thousand,
• 2:27
  Speaker 3: which is a margin call point, because they're.
• 2:29
  Speaker 4: Going to add more collateral.
• 2:30
  Speaker 3: You know, they can add more to keep from actually
• 2:33
  Speaker 3: getting liquidated there, they can add to their position. I'm
• 2:36
  Speaker 3: much more worried about Michael Sailor if the price does
• 2:38
  Speaker 3: drop down to ten thousand. And when you look at
• 2:40
  Speaker 3: what the attack, that's Citadel. I do believe some people
• 2:43
  Speaker 3: are saying, oh, you know, it's not actually true. Citadel
• 2:46
  Speaker 3: and Black Rock are the ones that moved against Doaquon.
• 2:48
  Speaker 3: They moved against absolutely, There's no question about it. Who
• 2:51
  Speaker 3: else got that kind of money and power to do that?
• 2:54
  Speaker 3: So they went after do Quon, they went after Terror Luna,
• 2:56
  Speaker 3: they went after Ust And I'm kind of afraid that
• 2:59
  Speaker 3: right now, we are start, We're gonna see any vulnerability
• 3:02
  Speaker 3: that exists out there in crypto. These people are going
• 3:05
  Speaker 3: to be attacking. They're gonna expose them. And the truth
• 3:08
  Speaker 3: is they need to be exposed because if you have
• 3:10
  Speaker 3: a big vulnerability, it's always going to eventually get exposed. Well,
• 3:13
  Speaker 3: let's go into it now while we're in the bear
• 3:14
  Speaker 3: market and get it over with instead of stopping a
• 3:16
  Speaker 3: big bowl run down the road. But I think when
• 3:19
  Speaker 3: you look at Michael Sailor what I'm a little concerned about,
• 3:21
  Speaker 3: and I like, like, I'll be honest, I know I
• 3:24
  Speaker 3: so somebody said I think that y'all are gonna go
• 3:26
  Speaker 3: after Michael Saalor or some some point. I like him personally.
• 3:28
  Speaker 3: I think he's genuine. I think he really does love bitcoin.
• 3:31
  Speaker 3: I have said before he's newer, so there's been a
• 3:33
  Speaker 3: little naiveness as not being through a full market cycle,
• 3:36
  Speaker 3: which he's experiencing now. But I'm a little concerned that
• 3:39
  Speaker 3: people with much bigger pockets than Michael Sailor are going
• 3:42
  Speaker 3: to find whatever that number is that he can't add more.
• 3:44
  Speaker 4: To that position.
• 3:45
  Speaker 3: Some people are calling for seven thousand or thirty five hundred,
• 3:47
  Speaker 3: like these are numbers people throw out there. I don't
• 3:49
  Speaker 3: think we go that low, but I'm I'm more nervous
• 3:52
  Speaker 3: about someone directly attacking that number to push it down
• 3:54
  Speaker 3: to liquidate him. So I don't know what the number
• 3:56
  Speaker 3: is that he couldn't bear anymore, but that's probably what
• 3:59
  Speaker 3: they're going.
• 3:59
  Speaker 4: To talk calculation.
• 4:00
  Speaker 2: The number is ninety eight and fifty six.
• 4:03
  Speaker 4: That's so close to ten thousand, three hundred.
• 4:05
  Speaker 2: It's like where they woul knock them out. Yeah, I
• 4:08
  Speaker 2: truly believe when I said it with Kathy in twenty twenty,
• 4:10
  Speaker 2: anytime we have any superstar investors, it feels as if
• 4:13
  Speaker 2: the top institutions wants to knock that person out of
• 4:15
  Speaker 2: facially and they begin aggressively attacking their positions. I hate
• 4:19
  Speaker 2: that he's just the next one that got caught up
• 4:20
  Speaker 2: in that. Why do you think a lot of retail
• 4:23
  Speaker 2: investors don't believe technicals don't matter in bitcoin or crypto?
• 4:27
  Speaker 4: Yeah?
• 4:28
  Speaker 3: Well, I think that it's just data rights, it's the
• 4:32
  Speaker 3: length of data that we have. But when you really
• 4:34
  Speaker 3: look at technicals, you look at charts, And I'll be
• 4:37
  Speaker 3: honest with you, like I'm not a technicals driven person.
• 4:39
  Speaker 3: I'm much more fundamentals We have a great technical analyst
• 4:42
  Speaker 3: here a bit with Cruder. We got sixty employees here,
• 4:44
  Speaker 3: so we run really deep. We got experts in everything.
• 4:48
  Speaker 3: But for me, like charts are just kind of boring
• 4:50
  Speaker 3: to me, if I'm really honest with you, I don't
• 4:52
  Speaker 3: have the patience that is down. I've done a lot
• 4:54
  Speaker 3: of training before, actually a leverage training. I turned eighty
• 4:56
  Speaker 3: thousand into a million last January. You know, I said,
• 4:59
  Speaker 3: I'm doing that's what I'm out bitcoin. Okay, yeah, well
• 5:05
  Speaker 3: it so I have a bullish bias, like I just
• 5:08
  Speaker 3: know that about because really you can't be in this
• 5:10
  Speaker 3: crypto space like I am and not have a bullish
• 5:12
  Speaker 3: bias to see all the things behind the scenes that
• 5:15
  Speaker 3: go on, you know, where this is going down the road,
• 5:17
  Speaker 3: and so when things are go short term badge, you're like,
• 5:20
  Speaker 3: I don't get it, you know.
• 5:21
  Speaker 4: So for me, it was just perfect timing.
• 5:22
  Speaker 3: Because in January things were really going up and in
• 5:25
  Speaker 3: February as well, and so my bullish bias kicked in
• 5:27
  Speaker 3: and basically whenever we had a dip, I was just
• 5:30
  Speaker 3: going long and I I was using irresponsible leverage.
• 5:33
  Speaker 4: I was doing like twenty five x. But uh, you know,
• 5:36
  Speaker 4: it was very irresponsible. No one else do this, no
• 5:38
  Speaker 4: one else do this, you know.
• 5:39
  Speaker 2: But the quantitative easing was still on the table, so
• 5:41
  Speaker 2: it was and you.
• 5:43
  Speaker 3: Guys hit that on the head. I heard what you
• 5:44
  Speaker 3: guys said before I came on the show. You guys
• 5:47
  Speaker 3: hit that on the head. You look at the quantitative
• 5:49
  Speaker 3: easing chart compared to the tech stocks, it's the same chart.
• 5:54
  Speaker 4: It's insane. That's where all the money wins.
• 5:55
  Speaker 3: So but the truth is I am smart enough to
• 5:58
  Speaker 3: know that the technical do matter. It doesn't matter really
• 6:01
  Speaker 3: how much data you have.
• 6:02
  Speaker 4: Charts or charts.
• 6:03
  Speaker 3: Charts are the psychology of human behavior. It is the
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  Speaker 3: decision making of earners.
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  Speaker 3: The person based on the lane last price action. It
• 9:01
  Speaker 3: goes all the way back to Japan and you know
• 9:03
  Speaker 3: Hikina sheet candles and rice trading. It's human psychology it's
• 9:08
  Speaker 3: it's not rocket science here, you know, and so people
• 9:11
  Speaker 3: are generally going to behave certain ways, and you know
• 9:13
  Speaker 3: how you know that's true. Everybody's depressed right now, you know,
• 9:17
  Speaker 3: everybody's even those of us that have been through this
• 9:19
  Speaker 3: and and we're like, you're super ogs when it comes
• 9:22
  Speaker 3: to going through these market cycles, like it doesn't feel good,
• 9:26
  Speaker 3: you know, especially for people that got in crypto laid
• 9:28
  Speaker 3: and like, I know, I'm sure that you guys feel
• 9:30
  Speaker 3: responsibility to your audience like I do, absolutely, and when
• 9:33
  Speaker 3: you see other that your people are hurting, and you
• 9:35
  Speaker 3: know that like, Okay, we know they're going to get
• 9:37
  Speaker 3: through this if they stay here, but you know a
• 9:39
  Speaker 3: certain percentage of people are gonna leave. And that's really
• 9:41
  Speaker 3: really sad. That proves the emotions that exist within a
• 9:45
  Speaker 3: market cycle. And so the technicals do matter because the
• 9:48
  Speaker 3: emotions matter because we all go through the same experiences.
• 9:51
  Speaker 6: Let me let me ask you this XRP. Ripple. I
• 9:57
  Speaker 6: watched the post on Instagram that you may always said
• 9:59
  Speaker 6: that they turned down a settlement in the SEC and
• 10:01
  Speaker 6: he was very you know, he was very passionate about
• 10:05
  Speaker 6: shit delivery on that. Yeah, can you talk about you know,
• 10:10
  Speaker 6: a lot of XRP Army, can you talk about that?
• 10:13
  Speaker 6: What does that actually mean and what's your thoughts on XRP.
• 10:17
  Speaker 4: So it's very interesting.
• 10:19
  Speaker 3: Basically, last year, towards the end of the year, or no,
• 10:22
  Speaker 3: not towards the end of the year, like right around
• 10:24
  Speaker 3: the May crash, I got in touch with this guy
• 10:25
  Speaker 3: who was we called a mixed mister X on the channel.
• 10:28
  Speaker 3: He's got to reach out to me and gave me
• 10:29
  Speaker 3: a lot of good information. It all turned out to
• 10:31
  Speaker 3: be true up to a certain point. He told me
• 10:33
  Speaker 3: the market was definitely bouncing back in the middle of July.
• 10:36
  Speaker 3: We literally got down to the last day of the
• 10:38
  Speaker 3: middle of July, which was like the twentieth, and sure enough,
• 10:41
  Speaker 3: it did exactly what he said it was going to do.
• 10:43
  Speaker 3: He told me about a lot of the China bitcoin
• 10:45
  Speaker 3: mining stuff before it happened. He told me they were
• 10:47
  Speaker 3: moving to Kazakhstan. All of a sudden, all these stories
• 10:49
  Speaker 3: start coming out, and so it was really really good information.
• 10:52
  Speaker 4: For a time.
• 10:52
  Speaker 3: He said one hundred K was in the cards by
• 10:54
  Speaker 3: the end of the year. That didn't happen. He told
• 10:56
  Speaker 3: me the XRP case was going to be settled by
• 10:58
  Speaker 3: the end of September, and we talked about that on
• 11:00
  Speaker 3: my channel and.
• 11:00
  Speaker 4: I got crucified because it didn't happen.
• 11:02
  Speaker 3: Did you guys know that when you make calls and
• 11:04
  Speaker 3: things don't happen the way you think they do, especially
• 11:06
  Speaker 3: if it's kind of based on information and it's not,
• 11:08
  Speaker 3: you know. And we kind of got a little lazy
• 11:09
  Speaker 3: towards the end of the year because I started leaning
• 11:11
  Speaker 3: too much on that information because it seemed good, instead
• 11:13
  Speaker 3: of doing what we're good at, which is analysis. But
• 11:16
  Speaker 3: the point is is it is very interesting Jed mcaleb,
• 11:19
  Speaker 3: who was formerly with Ripple, he was one of the founders.
• 11:23
  Speaker 3: He actually split with Ripple right around the time of
• 11:25
  Speaker 3: the token sale, and he's sold XRP out a huge settlement.
• 11:29
  Speaker 3: No one has made more money on Ripple than Jed mcaleb.
• 11:33
  Speaker 3: I think it's about a billion dollars that he's made
• 11:35
  Speaker 3: where Brad garling House and Pristal Larson I think about
• 11:37
  Speaker 3: five hundred million was what was in the sec lawsuit.
• 11:41
  Speaker 3: So the point here is in September he stopped selling
• 11:45
  Speaker 3: for the first time. He didn't sell in September, he
• 11:47
  Speaker 3: didn't sell in October, he didn't sell in November, he
• 11:49
  Speaker 3: didn't sell in December, he starts selling again in January.
• 11:52
  Speaker 4: And something is not making sense to me.
• 11:54
  Speaker 3: Because I'm like, this case is supposed to be over
• 11:56
  Speaker 3: All of the news stops right about the beginning of November,
• 12:00
  Speaker 3: all the news stuff.
• 12:00
  Speaker 4: We got no news from the case right November to February.
• 12:03
  Speaker 3: Well, this weekend at Consensus, a big conference, I spoke
• 12:07
  Speaker 3: directly with someone who I'm very close with, that is
• 12:13
  Speaker 3: someone I trust one hundred percent would not make this up.
• 12:16
  Speaker 3: And I can't say where he got this information from
• 12:18
  Speaker 3: because it would expose him a little bit.
• 12:20
  Speaker 4: And that's why.
• 12:21
  Speaker 3: But he told me straight up that last year, straight
• 12:25
  Speaker 3: for the horse's mouth, he heard this that Ripple turn
• 12:28
  Speaker 3: down a settlement. I think the information we had was good.
• 12:31
  Speaker 3: I think this was going to end last year. But
• 12:34
  Speaker 3: it's really actually good for the market that it didn't
• 12:36
  Speaker 3: because everything was so overheated, it probably would have been
• 12:39
  Speaker 3: cut short. This may work out better for the price, actually,
• 12:42
  Speaker 3: because I think it's gonna the suppression of this bull
• 12:44
  Speaker 3: run is going to make Ripple.
• 12:45
  Speaker 4: Go to the moon, as we say in the next
• 12:47
  Speaker 4: bull run. Yeah.
• 12:48
  Speaker 3: But but the truth is is that they have the
• 12:51
  Speaker 3: sec by the balls right now. You know, in every
• 12:54
  Speaker 3: single month it looks worse and worse and worse for
• 12:57
  Speaker 3: the se as. He see that, right, And the reason
• 13:00
  Speaker 3: and they made that decision was because they said, point blank,
• 13:02
  Speaker 3: we have them and we are going to outright win.
• 13:04
  Speaker 3: So we have been pushing the idea of a settlement
• 13:06
  Speaker 3: for a long time. I no longer believe that. I
• 13:08
  Speaker 3: believe that the SEC is going to get totally defeated.
• 13:11
  Speaker 3: And not only that, but after this case, I think
• 13:13
  Speaker 3: we are going to see a major overhaul in what
• 13:16
  Speaker 3: happens at the SEC. Because you've got to understand that
• 13:19
  Speaker 3: towards the end of this year, if we look at
• 13:21
  Speaker 3: our current economic situation and we look at these mid
• 13:24
  Speaker 3: term elections coming up, you have to understand, if we're
• 13:28
  Speaker 3: in a recession, there's no way we don't get big
• 13:31
  Speaker 3: changes in what's going on in Washington, because that's what
• 13:34
  Speaker 3: happens when the markets are down.
• 13:36
  Speaker 4: And if that happens, I think.
• 13:38
  Speaker 3: We will see some people going directly after the SEC
• 13:42
  Speaker 3: and we will get changes to that organization. That SEC
• 13:44
  Speaker 3: is the most crrupt organization in the history of the world.
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