Latest / Financial Survival Network / Bitcoin's Path to $100K - Dan Novaes #6189

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Bitcoin's Path to $100K - Dan Novaes #6189 · Financial Survival Network

• 0:00
  Speaker 1: You know, a lot of this inflow is happening on
• 0:02
  Speaker 1: the bitcoin side of things, because you're seeing that's where
• 0:05
  Speaker 1: the ETFs are, that's where a lot of the headwindes are.
• 0:08
  Speaker 1: And actually the all coin markets have been relatively unimpacted.
• 0:12
  Speaker 1: But typically what ends up happening is there's a divergence
• 0:14
  Speaker 1: over the months after you know, the bitcoin concentration is over,
• 0:18
  Speaker 1: and I think that where we'll see that, especially next year.
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  Speaker 2: But it does is a rising tides.
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  Speaker 1: You know, as bitcoin goes up, a lot of the
• 0:24
  Speaker 1: people that have been in crypto for years, and a
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  Speaker 1: lot of these Web three projects, they now have more capital.
• 0:29
  Speaker 2: There's a lot more liquidity in the market.
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  Speaker 3: You are listening to Carrie Letz's Financial Survival Network, where
• 0:34
  Speaker 3: you get valuable information you just can't find anywhere else
• 0:38
  Speaker 3: to thrive in today's trying times. You need the Financial
• 0:42
  Speaker 3: Survival Network now more than ever. Go to Financial Survivalnetwork
• 0:47
  Speaker 3: dot com and get your free newsletter and gift. Financial
• 0:51
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• 0:54
  Speaker 4: Ever, and welcome you are listening to and watching the
• 1:01
  Speaker 4: Financial Survival Network.
• 1:02
  Speaker 2: I'm your host, Carrie Letz. Then Devas is with us.
• 1:05
  Speaker 4: He is CEO of Mobile and we're talking crypto, and Dan,
• 1:10
  Speaker 4: what can you say about crypto this year? It's been
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  Speaker 4: by far the best performer out there, better than the
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  Speaker 4: stock market, better than gold and silver by a bit,
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  Speaker 4: not as much as in prior years. Right now, it
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  Speaker 4: looks like we hit resistance at one hundred k. You know,
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  Speaker 4: for many securities, I look at psychological resistance, which is
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  Speaker 4: big numbers, and then you look at technical resistance, which
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  Speaker 4: is what the chart says. For bitcoin, there's only psychology here.
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  Speaker 4: How long is it going to be till we hit
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  Speaker 4: one hundred k.
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  Speaker 1: I think that even though we're saying o tracement today,
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  Speaker 1: it's still very likely that one hundred k is possible
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  Speaker 1: at the end of this year. I think that, you know,
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  Speaker 1: if you look at the last month, you know, we're
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  Speaker 1: up like forty forty five percent, so it's very reasonable
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  Speaker 1: to have some sort of retracement. But if you look
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  Speaker 1: at just you know, there's so many tailwinds heading in
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  Speaker 1: this direction from the bitcoin reserve that the administration is
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  Speaker 1: hinting at, from the ETF and flows, and you know,
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  Speaker 1: the corporate treasuries and then are now voting non potentially
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  Speaker 1: buying bitcoin. Microsoft, you know, being one of them, and
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  Speaker 1: so I think, you know, it's it's very likely and
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  Speaker 1: generally you see a good crypto market in November and December,
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  Speaker 1: you know historically, and what this is without the external
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  Speaker 1: factors that we're talking about here, So you know, long term,
• 2:32
  Speaker 1: I think that you know, it's it's without question, and
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  Speaker 1: I think that's why you're seeing guys like micro Strategy
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  Speaker 1: being able to take in uh, you know, he's been
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  Speaker 1: able to buy you know, seven billion dollars or you know,
• 2:43
  Speaker 1: or I think you bought five point five billion dollars
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  Speaker 1: in bitcoin yesterday and in three weeks like you've seen
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  Speaker 1: that stock shoot up significantly because of all the interests
• 2:51
  Speaker 1: on his offerings. So it's you know, I without question
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  Speaker 1: believe that one hunter k is very possible. But there
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  Speaker 1: is a psychological component to it because a lot of
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  Speaker 1: the people that are selling bitcoin right now, if you
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  Speaker 1: look at the outflows, there are actually a lot of
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  Speaker 1: long term holders and not necessarily the institutions like the
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  Speaker 1: ets that those are actually remained pretty stable and they're
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  Speaker 1: absorbing a lot of that supply from the market.
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  Speaker 4: All right, so what about other cryptos ethereum, We're going
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  Speaker 4: to see you move there because it's definitely lagged Bitcoin. Yeah,
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  Speaker 4: it's actually really interesting.
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  Speaker 1: So I personally my own portfolio bought more Etheroreum over
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  Speaker 1: the last week because you know, it's interesting. If you
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  Speaker 1: look at the ratio, it's the it was the absolute
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  Speaker 1: lowest it had ever been. When Bitcoin was a whatever,
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  Speaker 1: it was ninety nine thousand, you know, a few days ago,
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  Speaker 1: and eth was at like three thirty one hundred.
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  Speaker 2: It is the lowest race shot I've ever seen it.
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  Speaker 1: And you know, I remember the days, you know, maybe
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  Speaker 1: two years ago when we're at like sixty five Bitcoin,
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  Speaker 1: this before ets before you know, constitutional and eth was
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  Speaker 1: at like four thousand. I think that just from a
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  Speaker 1: standpoint of there's a lot of narrative on these new
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  Speaker 1: coins right now, but Ethereum is still powering the vast
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  Speaker 1: majority of crypto. Whether you look at us D T, USDCU,
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  Speaker 1: you look at a lot of the stable coins that
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  Speaker 1: are coming out, Ethereum is powering all that and so
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  Speaker 1: and it's all it's the only other ETF product out
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  Speaker 1: there that's you know, uh, it's a second right, and
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  Speaker 1: so I think that we're going to see a lot
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  Speaker 1: more growth, and not especially as if you actually if
• 4:17
  Speaker 1: you look at the price chart today, it's really interesting
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  Speaker 1: to see that bitcoin did, uh, you know, fall a
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  Speaker 1: certain percentage but remained relatively stable if you look at
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  Speaker 1: it as.
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  Speaker 4: It's five percent according to my chart here, but I
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  Speaker 4: don't trust any of the charts. But but it hasn't
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  Speaker 4: hit its record yet again record Yeah, it's like I.
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  Speaker 1: Mean, it's record high as you know, low four thousands,
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  Speaker 1: I believe, and I think that we will definitely see that,
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  Speaker 1: especially as you know, a lot of this inflow is
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  Speaker 1: happening on the bitcoin side of things because you're you're
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  Speaker 1: seeing that's where the ETFs are, that's where a lot
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  Speaker 1: of the headwinds are. And actually the all coin markets
• 4:56
  Speaker 1: have been relatively unimpacted. But typically what ends up happening
• 5:00
  Speaker 1: is there's a divergence over the months after you know,
• 5:03
  Speaker 1: the bitcoin concentration is over. And I think that where
• 5:06
  Speaker 1: we'll see that, especially next year.
• 5:08
  Speaker 2: But it does. It is a rising tides.
• 5:09
  Speaker 1: You know, as bitcoin goes up, a lot of people
• 5:11
  Speaker 1: that have been in crypto for years, and a lot
• 5:13
  Speaker 1: of these Web three projects, they now have more capital,
• 5:16
  Speaker 1: there's a lot more liquidity in the market, and so
• 5:18
  Speaker 1: those older holders not necessarily the institutional holders will diverge
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  Speaker 1: into these new all coins, which creates a new opportunity
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  Speaker 1: for a lot of new projects in the space, especially
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  Speaker 1: in the United States where now we may have a
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  Speaker 1: bit more regulatory clarity with like Gary Gensler resigning and
• 5:32
  Speaker 1: some of the appointments that Trump has indicated, And that's
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  Speaker 1: going to make a really massive difference in the Web
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  Speaker 1: three sector. And I think it's like going to see
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  Speaker 1: its golden years. I think we're in the ninety nine
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  Speaker 1: of Web three right now.
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  Speaker 4: Yeah, So the antipathy of the government towards cryptos, I
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  Speaker 4: wouldn't say all of them, I'd say towards the leading
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  Speaker 4: cryptos is no longer there. I think there's going to
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  Speaker 4: be antipathy to these marginal ones that are really nothing
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  Speaker 4: more than scams, which is, you know, hundreds of them
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  Speaker 4: out there. I think you'll see a bifurcation, embracing of
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  Speaker 4: the five or ten leading cryptos and room for others
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  Speaker 4: to enter with certain ground rules that weren't in effect.
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  Speaker 4: That's a plus and a minus. But you do need
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  Speaker 4: a referee in this thing because a lot of people
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  Speaker 4: have been screwed out of a lot of money in
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  Speaker 4: these cryptos. Here basic question for those of you out there,
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  Speaker 4: I mean you and I know how to buy this stuff.
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  Speaker 4: What do you think is the best way to buy
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  Speaker 4: ethereum and to buy bitcoin? Is it through an ETF
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  Speaker 4: or should I be looking at the other vehicles?
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  Speaker 1: Oh? Look, I think if you're an institutional investor or
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  Speaker 1: sight institutionalized or retail investor, but you know you are
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  Speaker 1: used to trading on fidelity or a brokerage, you still
• 6:56
  Speaker 1: have all the protections.
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  Speaker 2: You know, at the end of the day.
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  Speaker 1: By punning Intatcheff, obviously they're taking very small margin, but
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  Speaker 1: you know, uh, I would say that it really depends
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  Speaker 1: on your personal preference. I think the benefit of holding
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  Speaker 1: crypto in a wallet is that you know, you have
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  Speaker 1: this whole decentralization aspect and so your money is nowhere.
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  Speaker 1: But if you lose the keys to that, you know,
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  Speaker 1: you know you were you don't, you can't get that
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  Speaker 1: crypto anymore. And so, you know, I think that that's
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  Speaker 1: probably the best way to get exposure while still having
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  Speaker 1: the downside protection because it it's no different than the
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  Speaker 1: security portfolio that you currently have. And just to your
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  Speaker 1: previous point, I do think it's a very important, uh
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  Speaker 1: component that you know, we do have regulation in the industry.
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  Speaker 1: You know, we've been self regulating, been in this web
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  Speaker 1: through space for years, and you know, it's it's been
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  Speaker 1: without clarity in the United States. With that clarity in
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  Speaker 1: the United States, it will make the United States a
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  Speaker 1: leader in crypto. And you know, having financials, having those
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  Speaker 1: protections for consumers is imperative because yes, there are a
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  Speaker 1: lot of scams in crypto, and it's it's an industry
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  Speaker 1: that has a ton of growth, and with any growth,
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  Speaker 1: there's always going to be like that actors, you know,
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  Speaker 1: so it's very important to stay on the forefront of that.
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  Speaker 1: And I think that that's what we're heading towards here
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  Speaker 1: in uh yeah, well, you know, some people are like
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  Speaker 1: they want to hold their gold. Other people will buy
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  Speaker 1: it in ETFs. I'm personally a proponent of holding it,
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  Speaker 1: but then you got storage problems.
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  Speaker 2: I've got point four bitcoin.
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  Speaker 4: Kicking around out there from when it was you know,
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  Speaker 4: six hundred dollars, so it was a whopping two hundred
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  Speaker 4: and forty dollars, and I'm thinking I will go for
• 8:30
  Speaker 4: narco hypnosis where they give you drugs and probe your
• 8:34
  Speaker 4: mind to figure out what the heck, my key was
• 8:36
  Speaker 4: because I updated my phone the key you would memorize.
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  Speaker 4: It didn't work after that, and I've never been able
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  Speaker 4: to figure it out. I mean, if anybody out there
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  Speaker 4: has a way of doing this, man, you could clean up,
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  Speaker 4: because twenty five percent of the bitcoin out there is
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  Speaker 4: lost right.
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  Speaker 1: Literally there, and I mean which benefits on the supply aspect.
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  Speaker 1: But yeah, there are there are some certain stories out
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  Speaker 1: there where there are are certain hard drives that have
• 9:02
  Speaker 1: literally one hundred million dollars in there, and people have
• 9:04
  Speaker 1: like one guest left, you know, and they have like
• 9:06
  Speaker 1: the mas sophisticated hackers in the world trying to hack
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  Speaker 1: into this crypto, like white hat hackers, right, so that
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  Speaker 1: they can get the crypto out. So I would agree
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  Speaker 1: with you that would be a great business. Maybe quantum
• 9:17
  Speaker 1: computing AI will solve that for us, you know, but
• 9:19
  Speaker 1: then that could break the entire crypto market down.
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  Speaker 4: As well, so they are AI, you know, forget about
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  Speaker 4: quantum the AI really well, we'll see. I guess it's
• 9:31
  Speaker 4: it's a conundrum here the as the the hard drive
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  Speaker 4: in a landfill and you offered it's got like two
• 9:39
  Speaker 4: hundred and fifty million of crypto on it's probably half
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  Speaker 4: a billion now and they just dig up the landfill
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  Speaker 4: to find it.
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  Speaker 1: Yeah, I mean, if it could be worth less again
• 9:48
  Speaker 1: to ROI, you know, we started a little like hedge
• 9:50
  Speaker 1: fond hedge one to just go through it and bop
• 9:53
  Speaker 1: the elect fill, you know, and do it. But yeah,
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  Speaker 1: I think like there's just going to the starger point
• 9:57
  Speaker 1: of kind of where we are going with crypto. I mean,
• 9:59
  Speaker 1: if you look at gold market, we're an eighteen point
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  Speaker 1: five trillion or something of that nature, and bitcoin today
• 10:05
  Speaker 1: is like, you know, about ten percent of that, right,
• 10:07
  Speaker 1: it's like one point eight trillion, you know. And so
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  Speaker 1: is it reasonable to say with you know, millennials gen
• 10:14
  Speaker 1: z who are very digital in nature, you know, and
• 10:16
  Speaker 1: we don't go and buy gold in that nature and
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  Speaker 1: now digital.
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  Speaker 2: Gold is bitcoin.
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  Speaker 1: And I think that it's very reasonable to say that
• 10:23
  Speaker 1: this asset class will easily five to ten x over
• 10:27
  Speaker 1: the course of the next two years, especially if you
• 10:28
  Speaker 1: look at the performance of the gold ETF versus the
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  Speaker 1: Bitcoin ETF. It's the highest performing ETF that's ever came out,
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  Speaker 1: and I think that that's goes to show the growth
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  Speaker 1: potential here in this sector.
• 10:39
  Speaker 2: Overall, couldn't agree more.
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  Speaker 4: And yeah, So as far as uh looking to the
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  Speaker 4: future here, do you think that the ets the institutional
• 10:50
  Speaker 4: interest now they're going to have options trading, Does that
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  Speaker 4: make it easier to manipulate the crypto market?
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  Speaker 1: I mean, I'll get it depends on the size of
• 11:01
  Speaker 1: the coin, right, But I mean, like if you look
• 11:02
  Speaker 1: at even Salor, right, I mean, it's hard to say
• 11:04
  Speaker 1: it's like he bought five billion dollars of bitcoin and
• 11:07
  Speaker 1: the lust you know, yesterday and the market went down,
• 11:09
  Speaker 1: you know, And so I think it's it's Is it
• 11:12
  Speaker 1: possible to manipulate the market, I think it's just so
• 11:15
  Speaker 1: we take a tremendous amount of capital. I mean, I
• 11:17
  Speaker 1: think that if you have if you look at the
• 11:18
  Speaker 1: bitcoin reserve concept where the US is proposing, hey, or
• 11:23
  Speaker 1: the senator which I'm forgeting her name, but from Wyoming,
• 11:27
  Speaker 1: it's five percent is the goal that she has to
• 11:30
  Speaker 1: own that bitcoin? Now, that would clearly I wouldn't say
• 11:32
  Speaker 1: that's a manipulation, but that would have a massive price
• 11:35
  Speaker 1: impact in bitcoin, right if the US suddenly owned five
• 11:38
  Speaker 1: percent of the goal, because they also would spur an
• 11:41
  Speaker 1: entire buy movement from all these other countries that don't
• 11:44
  Speaker 1: want to get left behind, and that would be just
• 11:46
  Speaker 1: a very parable a thing where we may see then
• 11:48
  Speaker 1: a million dollars a bitcoin over the course of the
• 11:51
  Speaker 1: next you know, twelve to twenty four months to pennylmen
• 11:53
  Speaker 1: that's executed. So I do think it's very hard to
• 11:56
  Speaker 1: manipulate markets in the scale of coin, but that's essentially
• 12:02
  Speaker 1: the general idea of smaller markets much more possible. And
• 12:05
  Speaker 1: those all coins that are seven billion dollars.
• 12:09
  Speaker 4: Yeah, well, interesting times ahead, Dan. We want to find
• 12:13
  Speaker 4: out more about you. Connect with you on the web,
• 12:16
  Speaker 4: et cetera.
• 12:17
  Speaker 2: How do we do that?
• 12:18
  Speaker 1: Yeah, on Twitter, Nevas, Underscore AI and then you check
• 12:23
  Speaker 1: out our website at modemobile dot com. We're building a
• 12:27
  Speaker 1: lot of stuff and Web three and also Web two,
• 12:29
  Speaker 1: you know, helping consumers get into earning rewards and earning
• 12:33
  Speaker 1: crypto without having.
• 12:34
  Speaker 4: Put a bunch of money down to do it all right, excellent, Hey,
• 12:37
  Speaker 4: links in the show notes to this interview on Financial
• 12:40
  Speaker 4: Survival Network dot com. When you're there, please sign up
• 12:43
  Speaker 4: for your free newsletter. Appreciate you coming by, Dan, We
• 12:46
  Speaker 4: will talk to you again and happy bitcoining.
• 12:50
  Speaker 2: Thank you, Kerry having a great one thanks.
• 12:51
  Speaker 3: For listening to carry Lets's Financial Survival Network, your solution
• 12:56
  Speaker 3: to today's trying times. For the latest, go to find
• 13:00
  Speaker 3: Financial Survivalnetwork dot com. Financial Survival Network now more than ever,