Signs the Bitcoin Bull Run is Just Beginning
Introduction
The speaker welcomes the audience and introduces the topics that will be discussed in the video.
Welcome to Cryptos Ross
- The speaker welcomes the audience to another Market open stream.
- Topics that will be discussed include what's going on with the markets, Bitcoin, signs for the next Bull Run, and crypto news.
Market Update
The speaker provides an update on the current state of the market and discusses how economic data is affecting it.
Economic Data Affecting Markets
- Bad economic data no longer pumps up equities.
- Strong economic data is now desired.
- People are pricing in Jerome Powell's rate hikes.
- Last jobs report showed softening in job growth.
- Red days have been seen recently due to this softening.
Inflation Concerns
The speaker discusses concerns about inflation and its potential impact on the economy.
Inflation Trends
- Peak inflation was 9.1% in June 2020.
- Since then, inflation has been decreasing steadily.
- There will be another CPI reading this Wednesday to determine if inflation continues to decrease or stays steady/increases.
Worst Case Scenario for Fed Chair Powell
- If inflation starts going back up while jobs start going down and unemployment starts going up, it would be a worst-case scenario for Fed Chair Powell as his tools are limited.
Bitcoin Popularity
The speaker talks about Bitcoin's popularity and why people are turning towards it.
Bitcoin Searches
- Bitcoin is currently the most Googled word in the US with 1.9 million searches per month.
- Globally, Bitcoin is more searched than almost all other searches combined from two to ten rankings.
- Everyone wants to opt out of their current financial situation and learn about Bitcoin.
Next Cycle
- The next cycle will be absolutely crazy compared to previous cycles.
- Countries, companies, and institutions are all embracing Bitcoin.
Current Cycle
The speaker discusses where we are in the current cycle.
Plan B's Analysis
- Plan B showed where we are in our current cycle with red indicating the low points of our cycle.
Bitcoin Bull Cycle and Potential Growth
In this section, the speaker discusses the current bull cycle of Bitcoin and its potential growth in the future.
New Bull Cycle
- The speaker mentions that we are currently in a new bull cycle for Bitcoin.
- They also mention that crossing certain moving averages, such as the fishnet moving average ribbon, can indicate good things happening.
Potential Growth
- The speaker notes that previous times when similar events occurred resulted in significant gains for Bitcoin, such as a 230x gain and a 60x gain.
- They suggest that even a 10x gain from here could indicate a value of 280,000 Bitcoin.
- The speaker mentions how incredible it is to see how far Bitcoin has come since Satoshi introduced it over ten years ago.
- They note that many people believe Bitcoin could reach one million dollars or more in less than ten years.
- The speaker shows a monthly stochastic chart indicating an upward trend for Bitcoin.
Supply and Demand Dynamics of Bitcoin
In this section, the speaker discusses supply and demand dynamics of Bitcoin and how they relate to its price.
Increasing Holders
- The speaker notes that over 50% of the supply of Bitcoin has not moved in two years.
- They suggest that every time there is a new cycle, more people become holders of Bitcoin through buying or holding onto their existing holdings.
- The amount of holders is rising fastest since early 2021 due to increased interest in cryptocurrency.
Interoperability on Cardano
- The speaker mentions that Cardano is accumulating a lot of ADA and has been working on interoperability projects, including their own side chains.
Sushi Exploited and Web3 Fund
In this section, the speaker talks about the recent exploitation of Sushi for 3.3 million dollars and why he doesn't use it. He also discusses the launch of a hundred million web3 fund for crypto projects.
Sushi Exploitation and Web3 Fund
- Sushi was exploited or basic hacked for 3.3 million dollars.
- The speaker doesn't use Sushi because there always seems to be something bad going on with it.
- Exchange Big Gap is launching a hundred million web3 fund for crypto projects.
- Web 3 is decentralized future decentralized dapps like apps that we currently use are web 2 that are centralized that's controlled by a person or a company or the government right uh all the web 2 moving to web 3 uh means that they become decentralized that they are powered by the people running on a blockchain that's controlled by the people and no one else right.
What is Web 3?
In this section, the speaker explains what Web 3 is and its exciting evolution from Web2.
What is Web 3?
- All data posted belongs to you, not to projects themselves which sell your personal information, browsing history, buying patterns etc.
- With web 3 you control your data if you want to monetize it it's up to you not them right.
- It's just an evolution of web2 but very exciting.
Twitter Spaces with Animoca Brands CEO
In this section, the speaker announces a Twitter Spaces event with Animoca Brands CEO to discuss web3 and their new exciting Venture Club 3.
Twitter Spaces with Animoca Brands CEO
- The speaker will be hosting a Twitter spaces event with Brian and Jet who he met on the crypto gem.
- The first Twitter spaces he'll be going on is tonight at 8 pm Central Standard Time, hosted by Brian Evans.
- Tomorrow, the speaker will host his own Twitter space talking with some other guys from Animoca as well.
Bitcoin and US Market
In this section, the speaker talks about Bitcoin's current price and how it's uncoupling from the stock market.
Bitcoin and US Market
- Bitcoin is at 28.2 which is not bad considering the US market is deep red right now.
- If we see more bank weakness later this week because bank earnings are coming out that could actually be the catalyst to drive Bitcoin higher.
Q&A
In this section, the speaker answers questions from viewers.
Q&A
- There will always be pullbacks but if you zoom out you'll realize that Bitcoin has been in a 12-year uptrend when in doubt zoom out.
- Nothing has outperformed Bitcoin in the last 12 years.
Cosmos and Dogecoin
In this section, the speaker talks about Cosmos and Dogecoin.
Cosmos
- The speaker prefers Cosmos over other blockchain platforms because of its software development kit.
- There are many benefits to creating your own chains on Cosmos, including interoperability with other chains and rented security.
- Cosmos has EVM compatibility.
Dogecoin
- The speaker does not believe that there are many people shorting Dogecoin.
- The speaker believes that Dogecoin will come back up to its previous 70 cent mark in the next bull run.
- If Bitcoin shatters through resistance levels, there is very little liquidity above it, which could cause a skyrocketing effect for cryptocurrencies like Dogecoin.
Web3 and New Projects
In this section, the speaker talks about web3 and new projects.
Web3
- Everything in crypto is pretty much web3 except for a few centralized projects.
- Web3 is best represented by crypto, blockchain, decentralization, and ownership.
New Projects
- The speaker has noticed a lot of new projects that look interesting but believes it's still too early to look for the next gem.
- The speaker plans to co-host a show with Brian Evans where they invite new or early-stage projects to pitch their ideas. They will grill them on their ideas and determine whether they're good projects or not.
Crypto Gem Show
In this section, the speaker talks about the Crypto Gem Show.
- The speaker plans to start a new show where they invite new or early-stage projects to pitch their ideas. They will ask a lot of questions and determine whether they're good projects or not. This is similar to the previous Crypto Gem Show but without contests and hoops that projects had to go through.
Checking out Bolt is Web3
In this section, the speaker talks about checking out Bolt, which is a web3 platform.
Bolt and Crypto
- Bolt is a web3 platform that is in its early stages with less than 300,000 volume.
- The platform is currently only available on Kucoin for users, gamers, content creators, and brands.
- The company aims to build web 3.0 platforms and services for the next generation internet.
Watching the Show
In this section, the speaker talks about an upcoming show that will be released in July.
Details of the Show
- The show will be released in July but more details are yet to come.
- It will be streaming on DirecTV bespoke TV inside TV and Amazon Prime for European viewers.
- The timing of the release is perfect as it coincides with an uptrend in the market.
Naming the Show
In this section, the speaker discusses potential names for their upcoming show.
Name Suggestions
- A listener suggests calling the show "The Crypto Breakdown," which receives positive feedback from the speaker.
- Another suggestion made by the speaker was "Whale Tank," but they acknowledge that it may not be a good name since many crypto shows copy mainstream shows' ideas.
Gaming Platforms
In this section, the speaker talks about different gaming platforms related to crypto.
Vulcan Gaming Platform
- Vulcan is one of the biggest gaming platforms behind Gala with a huge ecosystem of games.
- They did well back in 2021 and have promise for future growth.
ETH Upgrade
In this section, the speaker talks about the upcoming ETH upgrade and its potential impact on the market.
Thoughts on ETH Upgrade
- The speaker thinks that long-term, the upgrade will be beneficial for ETH.
- The ability to unstake will make it easier for people to stake, which will help increase its price.
- However, there may be a sell-off initially after the upgrade is enabled.
Top 100 Movers
In this section, the speaker talks about any significant movements in the top 100 cryptocurrencies.
Top 100 Movers
- AI Singularity and Cava are up slightly but no significant movements have been observed.
XRP Winning Case
In this section, the speaker discusses whether XRP winning their case could potentially impact the market positively.
Impact of XRP Winning Case
- The speaker thinks that winning the case would cause an initial explosion in XRP's price and other cryptocurrencies but may not be sustainable.
- It could potentially kickstart a bullseye early.
Thoughts on Meme Coins and Gala
In this section, the speaker talks about their thoughts on meme coins and Gala.
Meme Coins and Gala
- The speaker is not only interested in meme coins.
- They think that Gala has a lot of potential and is leading the way in the current market.
Tales from Crypto Show
In this section, the speaker talks about a show called "Tales from Crypto" and whether they would do a similar show.
Tales from Crypto Show
- The speaker remembers an old show called "Tales from the Crypt" but thought it was either scary or stupid at the time.
- They will not do a show like that.
Bitcoin Holding Up Despite Weak US Market
In this section, the speaker talks about how Bitcoin is holding up despite a weak US market.
Bitcoin vs. US Market
- Bitcoin is still holding up while the US market is getting weaker due to concerns about inflation and poor job reports.
- There is no panic about Bitcoin as we are already in the next cycle of the bull cycle.
More People Interested in Web 3 and Decentralization
In this section, the speaker talks about how more people are becoming interested in web 3 and decentralization.
Interest in Web 3 and Decentralization
- More people are looking to come into this space to learn about Bitcoin, web 3, and decentralization.
- The most widely searched term globally is related to these topics which shows how many people are interested in learning more.
Twitter Spaces Discussion on Web 3 Before Show
In this section, the speaker talks about a Twitter Spaces discussion on web 3 before their show.
Twitter Spaces Discussion
- There will be a Twitter Spaces discussion hosted by Brian Evans, where the speaker will participate along with Jet and Yatsu from Anna Mocha.
- They will talk about web 3 and other interesting topics tonight at 8 pm Central Standard Time right before the speaker's show.