[00:00:01] Speaker A: Welcome to Crypto Talk Radio, the podcast for everyday investors like you. Visit us on the
[email protected] and now here's your host, Leister.
[00:00:13] Speaker B: Thank you for that, Bailey. And welcome everybody out there on Crypto Talk radio
[email protected] welcome or welcome back. We need to have a conversation.
I want to disclose something up front or two things. One, and I'm being honest because you know your Uncle Leister, CryptoTalk FM is always honest. I tell the truth because it's the truth.
I am feeling disgusted talking about cryptocurrency. It's not like the old days. In the old days it was exciting. In the old days it was thrilling. This was prior to the realization of the casino. This was at a point that I felt that there was more going on.
There's a lot going on. We're going to talk about what's going on, but it's not exciting.
You can have a lot of crap, right? You got a lot going on, but it's not exciting. It's not thrilling.
It's not even sad. It's just, it's a lot of stuff. It's like, okay, well that seems like it's par for the course. Par for the course is your future and that's what we're going to be chatting about. I also have a shout out video that I could post after this probably tomorrow or some odd in response to something I got on the on the site as a form submit. But today we're going to talk some crypto news. Nothing major. We may get through the episode pretty quick today.
Coinmarketcap.com and we are going to zoom out to the month chart and we're going to start with Bitcoin because DaVinci Jeremy seems to have lost his ever loving mind. I don't suggest that he's wrong when I say it seems like he lost his ever loving mind. A couple of weeks ago he gave a post upload on YouTube. He talked about, nope, this is the moment. This is what you want to do.
And then today or yesterday, one of the two, he posted another video that basically gave a prediction of bitcoin crashing down. It's like the 20,000 range and he made it seem like, well, I see on the charts this is telling me it's going to go down to like 20,000.
Now as I said, we're zoomed out on the month chart for CoinMarketCap.com we are seeing a somewhat downward trend. I don't see a sharp downward trend. I do see a downward trend. Do I think it hits that low of 20, something,000?
No.
In the short term, where do I think it goes? I really don't know. 82 is kind of my gut speaking because the downward trend, like if you look at the chart you can tell that there's a lot of manipulation going on up and down. Like you can see something or someone is trying to get that price down.
Likely people who are trying to stack, I can't say for sure but that's likely what's happening. Then there's the inverse. There are people who are trying to force it up word. And so they're putting in orders that put the price there's putting it high right at, at some point that supply out there is going to run out and so they see it come crashing back down again.
And it's a pattern, it's a persistent pattern, up and down and up and down. And it looks to me like the upwards are going to lose a very scary battle. And again I, I say maybe 82 ish in the short long, I don't know but it feels like we wouldn't go as far as 26. I damn sure hope we do, but I don't think we will.
I also talked about how sailor, you know, strategy, MicroStrategy and that CEO who came out and said, you know, if we have to, we'll sell. And I told you all this stacking, it's going to create a bubble effect. And that was what people are freaked out about. That and AI two new bubbles in the overall macro that would cause another crash. Large scale financial crash.
Somebody else did some analysis and they said understand that this whole crash and climb cycle is the new norm. And that's why I said in the beginning there's a lot happening but I wouldn't consider it exciting, I wouldn't consider it thrilling. It's just kind of a thing. You're just like, well this is what the way it is, you know.
So I, when I say I feel disgusted, it's not because I'm angry or any of that. It's just boring to me. It's boring, it's dull. If something is inherently a crash is predictable, it, we expect it, it's going to happen and we can kind of time it. That's boring.
I'm not suggesting that we should have gambling like we do. I'm saying that I don't like the boring. I like to unanticipate certain things and events.
So I'm doing it because I like sharing what I can with you guys. But I, I'm disgusted doing it. It makes me nauseous doing it because it's boring is what I'm saying.
J.P. morgan recently made some moves talking about embracing Ethereum and to a lesser degree Solana circled around stablecoins tokenized assets. We've talked about how tokenized assets were supposed to work. We talked about how decentralization was supposed to work. We talked about how there was supposed to be this anti banking and many of the YouTubers told you the banks are going to come irrelevant, they're going to shut down, they're not going to be in the mix. It's all going to be crypto and you're going to be a bunch of nerds on your phone shifting crypto around. Well, JP Morgan Chase threw a wrench in this. The wrench. I'm going to do my best to try to explain exactly what's happening with this.
What they did is they launched a yield fund on the Ethereum chain.
The yield fund is basically the what people think is that it's an intent to take where there's liquidity in cryptocurrency and they're trying to take and drain that liquidity back into financial control that they, you know, basically fiat world in terms of value, financial control, regulated control, etc. Doing it in a way that does not increase their risk.
So it takes and says a money market fund on a token, it's on the public so it's chained and all that other kind of stuff. So you get the benefits of blockchains, you know that it offers and it takes an ADS yield which is not, is not legal in the United States for cryptocurrency stable coins. We talked about before on the last episode of Crypto Talk FM how the United States turned its back on certain of the assets. And I said it's because these are the ones that are largely controlled by the government. This is a byproduct of that control. It's the idea that well we're going to pick and choose, cherry pick these assets that we think we can influence. And then Chase stepped up and said now let's create a creative way that will let us drain. Because I said this was like a year and a half ago I said that in order to get outside the bubble money you need to have these assets that are regulatory. You need to have these assets that are allowed by the government. You need to figure out how to open it up to where those people feel comfortable doing so. Things like yield funds are like candy to A lot of these rich people, these rich mother fathers. And so it's just going to entice more money into the pool. That money's going to drain out of cryptocurrency over time. At least that's what JP Morgan is anticipating will happen. And by doing that, it puts it under control, regulatory control and regulatory oversight, and it avoids the risk of cryptocurrency.
It's still unknown how this all ties into the tax system.
It also. It's also unknown. Some of these offer certain yield. They're just not doing it legally. And whether or not some of those organizations will pull back those offerings because they see that there's now competition in the game and they don't want to have any risk to their asset pool. None of these are known at this point. I share it because it's something you should pay attention to. The banks are taking notice and they're creating ways to be able to drain liquidity from cryptocurrency back into the fiat market. So you're going to want to watch and see how this all plays out.
Solana.
Solana very recently dealt with a hacking attack, a DDoS attack.
It dealt with this attack and largely it did not have any sort of impact.
If you remember the memes about Solana in the past, the meme was that Solana seemed to always crash and burn at the wrong times. It's been down multiple times. Stability was a very big criticism of Solana. People didn't trust it. That's why you saw many of the memes, the early memes, go, go on Binance and Ethereum, mostly Binance. It wasn't until later that we saw embracing a Solana as Solana started to stabilize what it was offering. Well, today they announced the aftermath of what appeared to be a coordinated DDoS attack, which is a distributed denial of service attack on the Solana chain. And it was not. It never went really down, at least not that anybody noticed.
So the downtime that they would have experienced was transparent to everybody was watching except for the people behind the scenes. So no impacts to the chain. Blocks were all good. Transactions were all good.
The one of the CEOs behind this basically said, we got hit with a lot here and we did really good and this is great for the chain and it should cause positive sentiment to return now that we people see that Solana is a viable option again, unlike what it was in early days. And I can't over. I can't stress how much Solana was crapping out multiple times before that. Now apparently they seem to have resolved and mitigated those issues. Now we have to ask the question because a lot of these memes have jumped back to the binance chain. We have to ask the end base. We have to ask the question, will Solana be able to get back to the level of excitement it once had? I'm not sure. But that's also something that you want to pay attention to.
Something you want to pay attention to for your wallet. If you're an xrp. One of the XR peddlers is that the price dropped after one wallet from seven years ago dumped almost a billion dollars in a sell off.
Apparently I don't know the deets because I'm not in xrp, but apparently this is just one of those wallet whale wallets that was sitting in the wings waiting for things to go to a point. You imagine people were talking about XRP going to like 20 bucks or 30 bucks or whatever. Can you imagine if they just kept sitting on it and it actually went as high as they thought it was going to go? How much liquidity had been drained out of this business? But and you got to think about, well, why do they cash out now? Is there something that they know? Were they just not confident in XRP's viability long term? Is there a logical reason why they would have sold now ultimately, big picture, I still think XRP will have a future.
I just think it's not short term. I think it's going to be a while out before it goes anywhere because there's too much competition. It's allowed because it was being attacked by the government, but it's allowed so much competition in the space that I don't know that it's going to be able to attract the same level of attention that it might have thought it was going to do prior to the rise of let's say base. Right, the base chain. That's a great example of one where it took so much attention away. Even though XRP is a completely different class of blockchain, I said that most of the traders don't care about those advanced utility sorts. They care about what's going to make them money. And so when they see cheap chains over here, zero gas, easy to get into, they're going to leap on that one. They're not going to look at this one over here that might have a strong future until it's already too late. The price is sky high is my theory.
Let's close out by talking about Bitcoin's crash a little bit more.
You May not have heard about what's going on with miners worldwide, but particularly China.
China did crackdowns on mining setups.
A lot of mining takes place in China. A significant portion of hash rate overall takes place in China because of cheap energy. And then they did a crackdown and it went underground, essentially. But there are still miners out there and there's been more of an aggressive crackdown. 10% of the overall hash rate of mining for bitcoin was lost recently. That contributed to some of the drop we saw in bitcoin.
The reason that it's important that you pay attention to those events is because that's going to cause usually a domino effect. If people see that bitcoin's crashing and burning, it usually triggers FOMO selling because they're freaked out. They're going to lose all their money, lose my money. And so they dump out of it. And then you're one of two camps. Either you follow them and dump out of it, or you buy on the way down, right? You dca up.
And sometimes it might be, I'm going to sell out now, wait till it gets to a bottom and then buy in at the bottom to get more of it. There's multiple ways to react to what's happening. The point is that almost all of them are contributed to with cell activity that sell seems to always happen when we see those significant drops. And so then China caused a lot of what you're seeing on the bitcoin chart.
It makes you want to. You got to think about something, right? Or two things. One, when those drops happen and sales happen, the institutionals that stack the crack ton of it, they're going to lose a lot of money on the books.
And we talked about what would happen with strategy if their numbers started to get out of balance and they'd be forced to sell.
These are real risks. And you want to watch because they stack so damn much of the bitcoin, it's. It's almost unthinkable that they would not sell. They would have to sell some of it. And then what's going to be the reaction? We expect they're going to buy back in. We expect to go back up.
Whatever you're going to do, make sure you're paying close attention to as much news around bitcoin over the next, I'd say for the remainder of the year.
Because that news is going to tell you if we do go down how severe it's going to be. It's going to be the best way to predict when there's going to be a domino effect happening. It's also going to be the best way to know if things going to recover. Consider also do Rug Pull AKA Do Kwan who by the way believes to stop defending the jackass but do Rug Pull.
Happy catty crypto who now goes by his real name Jake on YouTube apparently was called into court to speak about the situation because he's one of the validators and he said that he wasn't confident in the way the case was going. Which doesn't surprise me is what it is. We know the guy's a scammer. That's obvious. We know it's he's a screw up. That's why I criticize Bleas for defending the dude because we know he's a scammer. He knows a screw up.
But we have to see justice served for Doe Rug Pull.
We don't see justice served. Just like Catherine. Catherine Ellison, I believe it is the one that was doing the sex freakout party with the poof hair. Sam Bankman freed the girl how she got off of the slap while he got the book thrown at him. That kind of crap. We can't see that. We got to see that the book is thrown at do Rug pull. He's a man. So we assume that that's going to happen but we got to see it. That's going to help positive somewhat.
However, bitcoin in the big picture can't fight off these larger macro events like countries crackdown and miners just quitting and people just selling out. You can't stop all that. And bitcoin remains continues to be and remains sentiment based. It is people believe it's going to be something and so they kind of roll with it. It doesn't mean it won't be something. It means that all it is is that people believe it'll be something and they kind of roll with it.
Consider though, I said I would love to see bitcoin go down to the end because I suspect it's going to go back up really quick and probably exceed probably go even higher because if people are smart they would sell it for way higher prices than they're doing so and and also all the other ones like Ethereum, right? Ethereum down to 2900 bucks.
We should think. We should think that Ethereum got to exceed its all time high because it still has not been able to significantly do that. BNB did but not Ethereum. Well what could that mean? We never really got to a true altcoin season. We never really got to the same kind of scattered chaos that we saw in 2021.
So the cycles changed is where I'm going with this. The cycles changed and you have to look for different opportunities than you did before.
Some people are gamblers to roll the dice, and that's cool, but it's. It's a different era.
Bitcoin is going to go back up, but it's likely going to go down first before it does.
How you react is how you react.
If you were to ask my opinion, my gut tells me it's. It's a dca. It's an easy dca. It's like if you're sitting on bitcoin now, buy on the way down, just buy a little bit on the way down, buy on the way down, buy on the way down. You're buying at discounts. You're looking for discounts. If you don't have bitcoin at all and you're wondering, well, I'd like to, but when should I buy? I can't tell you specifically because I don't know what your targets are. I would. It's hard to pick the bottom on this one because we don't know what all the catalysts are. They're going to cause more downward motion. So it's hard to pick the true bottom here. You're gonna have to play it by ear. And maybe you just pick a bottom, right? So let's say you pick a bottom of $85,000.
You buy whatever you can afford. Ignore the price of bitcoin itself. It's just how much money can you afford to put in it? And that's you, that's what you go with.
If it goes down, you could just buy some more at the lower price. And that's dca. You're averaging it out.
That means that the first buy in, if you plan to try to do it that way, the first buy in should not be all the money. Don't put all your money into any crypto, but certainly don't put all your money in the first buy. You know, put half of it in there. First buy maybe goes down, buy some more. If it goes up, you might consider sitting on it or take profits. I would think that the price appreciation that we expect, we won't see till sometime in 2026, that that's a gut instinct. I have no fundamentals as to why I say that. It's just a gut instinct.
So that's my thoughts on bitcoin.
That's my thoughts on the bigger picture, the separate that I'll do. Probably again, Tomorrow, I'll spoil it a little bit.
I. Because this is the teaser. Since we have a short episode, I want to tease you.
I received another anonymous tip.
And the anonymous tip stir gave information about Block Dag.
The information provided.
And I could sense this person's fear and I could sense this person's frustration.
I could sense that they were at a very certain point, it is their reaction that I'm going to be doing my upload about. So if that person listens to me here, I hear what you're doing, I hear what you're saying, and I hear what you gave and I will discuss it.
You probably won't like what I say because I'm not going to defend Black Dag at all.
But you're probably not going to like what I say. But I'm doing it because I have to pull information because it's not given the way it needs to be in order to be of use.
And part of that is the assumption of the situation. And this is the flaw of crypto.
Don't ever assume this is free. Don't ever assume that people go to Telescam because many of us normal people don't.
Don't assume that you might you saw something that everybody saw.
Don't assume that you heard something that everybody heard. Don't assume that you know people that everybody is aware of.
You have to tell the story.
You don't have to tell all of the details of the story, but you do have to tell the story because there are certain things that may not be clear and apparent to everybody else that might be apparent to you.
You have to help make it apparent to them without exposing yourself.
My episode, probably tomorrow, is going to help you do that, if you take the advice. Cool. I'm happy to share what I think you want me to share, but I need more from you.
And it's easy. It's dirt simple. And if you hear what I say tomorrow, trust me, it'll click and you'll be like, okay, yeah, that's pretty simple. I get what he's saying.
I get what he's saying. He's saying, I'm in the bubble. I see these things in the bubble. He's not in the bubble. I've got to communicate outside the bubble so that he can understand what's going on inside without having to go inside, because he's not going to go inside because I shouldn't be inside. If I were inside, right, that would make me a mark.
So because I'm outside, you have to break it down.
I'LL take that information and once I can connect the dots of what you're trying to say which I have a theory but I need to get more more of that once I get those dots connected I'm happy to be your conduit to communicate what it is without exposing who you are who you are isn't really important in what you're trying to communicate. You're trying to communicate the message because of the impacts on other people.
My goal is to help that get out without compromising your situation because if you are who I think you are I understand why you would feel threatened.
Let's just say that so that's my little teaser A little spoiler likely tomorrow there will be a quick and dirty upload that talks about this that was shared if the person hears this I'm saying you probably won't like what I say but I'm doing it to help it's to be helpful and you'll you'll understand when you hear it of what I'm getting at so that I can help be your conduit let's get it.
Sa.
