$200K Bitcoin price “programmed?!” ETH déjà vù, XLM, AXS | The Market Report w/ Sam Bourgi

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Hello, friends, and welcome to another episode of the Market Report. It is Pumptober officially and we're excited to have you here today. I'm your host Benton and we're joined again by our resident experts Jordan Finiseth and Marcel Peckman. For those who don't know Jordan, he uses his background in psychology and human behavior to spot the emerging trends on the market. And Marcel applies his 17 years of experience trading derivatives options and futures to the crypto derivatives markets. Our guest this week is business editor for Cointelegraph Sam Borgi. Your not going to want to miss that interview. And guys, what is up? How are we feeling this week? Is there something in the air or is it just Pumptober? How are we doing this week? What's up, Marcel and Jordan.

I don't.

Want to say I told you so, but since we dropped from 50,000 some two, three months ago, I've been saying to my followers, don't worry, this will all come out good. Nothing has changed this China ban situation we've seen in the past. So we're back here with 54 or 55,000. So I'm excited, but I'm worried about those guys who started buying at 30,000, 40,000, 50,000 and think, thinking that 100,000 is a couple of months away, maybe.

It isn't very good, Jordan.

It looks like a whale got a little bit impatient there. And I think somebody bought about $1.6 billion worth of Bitcoin and pushed that price up. So let's see how this market's get this rally going. Come on.

That's right. And we appreciate everyone who joined us for today's show, a little bit of a slight tweak this week in our format, which should be a little bit exciting. So this, this week's show, we're going to jump right into market news. And then we have our guest interview with Sam Borgia. You're not going to want to miss some of the topics we're going to talk with Sam about today. We're going to dive into markets Pro some of the coin watch over the last week and show you how that Markets Pro platform works. And then we have our expert take today with Marcel. Guys, ask your questions, ask your comments, chime in on the comments section today. We want to hear from you. If you haven't check in on Twitter, subscribe to our YouTube, we're here on Thursdays and we want to hear from you all that are watching today. Our very, very loyal audience. We love you all. We appreciate you tuning in to the markets report today. So let's jump right into our market news. We got a lot of hot topics to talk about Bitcoin and Ethereum. So let's get this party started. All right folks, 200k Bitcoin programmed into the price. Did I hear that correctly? We saw an article this week on, on Cointelegraph. I'm going to pull this up for us and read a few excerpts from this. Bitcoin is heading to what is arguably a mathematically programmed all time high of 200,000 or more hen hence the latest data. And this is by tech dev who is a Twitter personality and influencer on Twitter. Very, very interesting take with that. I'm curious to see and hear from you all, Jordan And Marcel, it's 200K programmed into Bitcoin. What does that mean to you all? Marcel, why don't you start us off?

As I said earlier, yes it is program. Just don't know if it's going to take three months, three years, nine years. So it's impossible to say how the adoption curve is going to go. So I don't know. Jordan, what's your thought?

Yeah, I think it's programmed in but we got to take this out of the context of just the cryptocurrency realm and put it in the like larger global economy. What the, why is the price of everything going up is because the value of the US dollar is going down. What's it going to be like when bitcoin is worth $200,000? What's our world going to look like? It's already kind of looking pretty, pretty rough here at 55k. Let's like yeah, it's gonna go up there eventually but I think that's going to say more about the state of the larger world and, and we're all going to be struggling with different things at that point.

But yeah, don't dodge the question. Do you think 200000 is feasible over the next six months or not?

Six months? No. Nope.

Send it, send it to 200K. Hold on, I'm gonna pull this up. So he jumps into the rsi. So in the article tech dev was saying in each four year cycle the RSI hits a peak at a level slightly lower than the last. This likewise helps to identify cycle top slightly in advance. Where BTC USD will be at that time however, is a much less exact sign. So I do want to point out this is what he's talking about, this RSI indicator. In the last two cycles we saw these two peaks. So here in 2013, here in 2017. Now he's saying that this could potentially create this second peak here in late 2021, early 2022. And so this second peak in the article is what he's talking about is saying like this could Potentially bring this 200k programmed in price. I'm a believer that we get there whether it's 6 months, 12 months, but Bitcoin is getting to 200k. We just got to, we got to see what this timeframe looks like. I think it'll surprise a lot of us when it does come to that point though. So it's going to be interesting what happens in, in weeks, months, days, even heading in towards the end of the year. I do want to, I do want to ask if our audience has any questions or comments in particular. What do you all think? You think bitcoin's heading to 200k by the end of the year? Chime in the comments, let us know and we're gonna pull them up and we're going to chat about them.

And so, yeah, get us a brief explanation. RSI first. So our audience, like me, kind of are lost here. What is the rsi?

It's a good point.

You want me to explain the rsi? So the RSI is a relative strength indicator. So it's when kind of it's telling you the strength of the market. And I like, I'm not too technical or get too deep into it, but when it's too high, RSI too, I mean, it's oversold. That means that way too many have bought it. It's kind of getting weak, it looks like, yeah, oversold. So, so that, yeah, it's been sold too much. The, the demand for it's weakening. So there's a good chance that the price might dump because just the demand's not there when it's on the inverse. Overbought. No, yeah, I switched that. Overbought means it's been the pump too much. Oversold means that the price has gone too low, is down. The strength means that there's not a lot of strength behind it, but it looks like it could pick up. And this is just kind of looking at the cycles of market, how they go up and down and it's always like if it's way down in the oversold, it's usually going to go up again. That's kind of what trader traders use it to, to bank on the fact that they can project what's going to happen next with the price.

Yeah, so exactly what Jordan say, it's a. It's a classic indicator whether people are. It's being overbought or underbought. I personally use it to look at. To see kind of like a new no trade zone, for example, if it's in between kind of a 55 and 45. Like, I typically don't like to enter trades or positions during those levels. So, again, RSI is. Is one of those indicators that you can or can't use when you're trading cryptos. Looks like we do have a question, Danilo. Or. Or Adrian, if you want to pop that up for us. What do we got here? Why didn't I buy sheep? Riddle me this, Batman from Kaltor. I think I. I think I might know, Kaltoro, what. What is up with.

With.

With sheep? Jordan, what do you. What do you know about.

I've been telling people for some reason for the last two months, I was like, buy Sheba by Sheba. But even I didn't buy it, so I don't know. I feel you, man. Like, I. I didn't buy it as much as I should have, but they come around. I, like, I've been saying it like it's on Coinbase. Vitalik donated so much of it to charity that they gave it. He gave it like a floor. Like, it's just. They're doing a Sheba Swap, they're doing NFTs. It's like Dogecoin 2, Dogecoin 2.0. It's like Dogecoin with smart contracts that doesn't operate on proof of work. So I don't know. I think that it's gonna. It's gonna be one of the meme coins that survive, in my opinion.

Fair enough. I don't know too much about the Shiba Inu ecosystem, but I do know they got listed on Coinbase, which is a big move for most tokens, if that happens. But I want to shift back to bitcoin real quick. Great question, by the way, from our audience. Love to see it. We want more of that $1 trillion asset class now bitcoin's back, and I think that's something, too, that needs to be said. This is a big deal. Anytime that this happens to bitcoin, I think it just solidifies itself and says, hey, I'm here. Stay, and it's not going anywhere. So that was another big kind of headline from this week, is that Bitcoin cracked $1 trillion, and that's a big deal. And. And I think, you know, for this community especially, like, that's something we should hang our hats on everyone, all the crypto verse that's out there. But let's, let's move over into the Ethereum realm now because there was this, a very, very, very interesting article. But before we dive into that, I do want to pull up our screen. If you have questions, you can even go to our Twitter, ask us questions so that we can answer them live here on the show. We're on Twitter. You can post them in the comments section. We're going to pull from them and get your questions answered. You want to know how to trade, you want to know how to get involved with things. You want to know what's going on in the market. We're here for that. So I do want to emphasize, go to our Twitter, leave us comments so that you can have those answers questions or those questions answered. And I want to get into Ethereum now. Big article this week, the Hammer Candle. Okay. This hammer candle got printed back in 2017 on a monthly chart. So I want to pull this up for us real quick. Let's see what we got. And this Hammer candle saw a 7,000% rise. So back in 2017, this hammer candle got printed and we saw a 7,000% rise in Ethereum after this hammer Candle was printed. Now Fast forward to 2021 over here. This same candle just got printed again. This is looking at a monthly chart here. So we're looking at this. I know it's a lot going on. The biggest takeaway from this chart here is the hammer Candle. This is a candle, a type of candle that is very, very bullish, especially in a monthly chart. And what are our thoughts here? I'm curious to hear from you all in regards to, does this mean anything to you guys? When you're looking at a chart and you see something like this and it's like, oh, my gosh, this is, this is huge news. Marcel, is this something that you use at all in your trading? What does that look like for you?

No, Benton, same for the RSI. I think when markets rally like 30% in a week, as we just saw, there's always going to be some signs either saying that it's overextended, the rally as the RSI or huge pump coming up, such as the Hammer candle said. But you've got to understand that there are two competing forces. Governments trying to suppress it or delay adoption, and holders who are taking coins out of circulation and making it harder for new persons and new entities trying to buy. So I think those forces are more important than a single candle or a Single indicator.

What about you Jordan?

I think that there might be a signal that the market's turning around. Are we going to get another 70x in the price? I don't think so. It seems like every, every cycle we go through with Bitcoin and now Ethereum the, the gains are less even though they go up a lot, the percentage gain is less. So we're not going to see the same movement with Ethereum. But Ethereum definitely the hot ticket right now. A lot of the institutional money is actually starting to look more at Ethereum than Bitcoin because of the D5 and NFT capabilities and all that stuff. There's so much more to going on with Ethereum than there is defy, I mean bit Bitcoin that institutions are putting more into that. So I think it'll definitely get a bump here if as this market continues forward. But again whatever happens with the larger market depends on how the, the whole economic situation around the world develops over the next six months in my opinion.

Maddox says Thor's hammer strikes again. I'm a big believer in these, in these like charting patterns and I'm gonna pull up just a quick, the quick chart of Ethereum here. This is looking at a daily chart and we had a nice bounce here off of this, this vwap which is a volume weighted average price indicator just kind of gives you like an average, almost like an ema but it's, it's more price specific. So we saw this bounce up in recent days here and we're kind of floating right around this 3500 level and I'm excited, I'm bullish on Ethereum. So I'm here is, I'm curious to hear what you guys think. End of year predictions for Ethereum. What do you think Marcel? Are we going to crack 5k? What does that look like?

Yeah, but I think we're going to crack 5k on two months, six months a year. But the thing is Ethereum competition is pretty weak. We have Cardano which took like five years to issue some simple smart contracts. Still doesn't have defi. We have Solana who had an outage of 18 hours without blocks being release. So the competition is really weak. So the pet force Ethereum to 5K is granted.

Yeah, Ethereum's still the top dog when it comes to smart contract platforms again. It's just if, if the other ones can kind of make ground and handle the, the transaction cost and speed over the next couple few years we're gonna hit another bear market that's when the, the other smart contract platforms are really gonna have to establish themselves and show that they offer something more than Ethereum and Ethereum is gonna have to up his game and find a way to decrease the transaction costs. But I do think 5000k is pretty, it's programmed in as I said at the beginning.

Oh, I'm bullish, bullish long on Ethereum. I think we could see potentially 10k. Ethereum is not going anywhere folks. All these other competitors I think are just adding more value to the Ethereum ecosystem. So I'm bullish long. That was our market news. Heck of a week for Bitcoin when bitcoin rises tends to rise all tide. So again I think another reason why Ethereum will continue to surge as well. And I know the days ahead are going to be very, very interesting to see what kind of price levels we can maintain. So it's another great week to be in crypto. And so this again brings us to our community. Our viewers are very loyal audience. We want to hear from you, ask us your questions. We're going to be answering live throughout the entire show today. Make sure you pull you plug in those questions, the comment section even on Twitter. We got one coming in right now. Will XLM continue to pump up? We're going to get into this today actually in our markets pro segment so I will save this one for later. But big news this week with MoneyGram Partnership. I think a lot, a lot of good stuff ahead for xlm. Again we're going to dive into that in our markets pro segment. But now our interview is coming up with Sam Borg. He's going to give us some of the latest market insights from a macro level. Super excited to dive into some burning questions with Sam Burji. Even you can ask your questions and and get them answered today. So let's go right into our guest interview for today. Folks. Welcome Sam Borgi. He is the business editor at Cointelegraph where he brings a decade of experience in economic analysis and financial market writing. Past roles included think tanks, boutique research firms in the wild world of freelance crypto. His passions include bitcoin, Austrian economics and writing. Also heavy music and strong coffee. Sam Borgi, welcome to the show today. We appreciate you having back great friend of the show.

Oh it's wonderful to be here and to connect with all you guys again. Hope everyone's doing well.

Yeah, we are super, super excited to get into some stuff with you today. A lot of stuff happening on the markets and we want to hear from you. So why do you Think crypto transactions are surging in Central and Southern Asia right now. What are you kind of seeing from where you sit?

Well, that's a really interesting question. We covered this earlier in the week. It's based on a chain analysis report. They've been releasing a lot of really great research that looks at crypto transactions regionally. So before it was focused on Europe, the second report came around Central Southern Asia as well as Oceania. And we saw I think a 700 spike year over year in the Asian countries. A lot of it actually is coming from emerging markets. A lot of us, when we talk crypto, we talk about it as an investable asset class, which it is. But in a lot of emerging markets, crypto is being used for remittances. It's also being used to circumnavigate a lot of the stringent forex policies as well as maybe in some Latin American countries and in Africa, hyperinflation as well. So in the case of Asia, we're seeing countries like Vietnam, India and Pakistan actually leading in terms of adoption. So if I told you, for example, that Vietnam has become the leader in crypto adoption, you might be like, no. Really? Well, yeah. There's actually been multiple reports now that have been showing a large uptick in Vietnam of crypto usage of actual usage, especially for remittances. So that whole aspect of remittances is becoming really, really prominent in emerging markets. And we saw that in the chainalysis report.

I just have a quick follow up question to that. Do you think it's because there currently isn't a massive traditional financial infrastructure in a lot of these countries and that's why they're being pushed to this mechanism?

Yeah, that's definitely one of them. And it's also ease of use, lower cost, especially when it comes to, you know, transacting in bitcoin. And we also saw in places like, like Nigeria, for example, they actually put controls on transfers in the NARA and then local currency. So bitcoin actually bitcoin fixes this, right? In a sense. So you are starting to see real world use cases for crypto in these emerging markets, whereas maybe in advanced industrialized countries it's mostly an investable asset class. I think both are really important. But to really see the utility and the need for something like bitcoin, go to the emerging markets and you'll see it.

I think that's a really good use case for stablecoins, more than bitcoin. At least the first experience of those underdevelopment countries. I'VE seen that in Brazil. But changing subject a little bit, Ethereum is the absolute smart contract leader right now, but we are seeing a lot of competitors such as Polkadot Cardano Avalanche rising up right now. So do you believe on any of those Ethereum killers, which is your topic and why?

I don't necessarily see any imminent threat to Ethereum's dominance. We've been talking about ethereum killers since 2016. I think it was, I've been writing about that is the next one. Not really. For me, Solana is really promising because I take a look at the money flowing in from venture funds. We wrote a report a few months ago about $300 million, $314 million token sale facilitated by private venture funds into Solana. So obviously something like Solana is expanding massively. But do I think that it can take Ethereum's lunch? I don't. Ultimately, I think it's kind of like Bitcoin, the tide that rises all ships. I think that Ethereum's dominance will create an ecosystem so big that a lot of these other smart contract platforms can compete. But right now, in the next foreseeable future, I don't see anyone coming close.

It seems like a lot of the recent, like momentum in the market actually came after the Fed was like, we're not going to ban crypto because China said they are going to ban it. Like, what do you think about the whole future of like, regulation in this country and what that means for crypto in the long term?

Well, I'd like to, you know, be confident about what the Fed said, but in general, you shouldn't believe anything that they say because nothing they say actually turns out to be true. I mean, this is, this is absolutely. You don't believe me, go look at their dot plot summary of interest rate forecasts every quarter. Take a look at how they plot out where they think interest rates are going to go and then actually take a look at where interest rates go. So for me, what the Fed says is really mean much. But all I take from what, from what Powell said and what all these other people are saying is that we're not going to ban crypto. There's no crypto as an asset class is here to stay. A lot of the regulatory talk right now is around altcoins and stable coins. That's where we could see some more stringent regulation. Obviously the infrastructure bill had some, some pretty negative outcomes for a lot of these different developers. I think that it really is meant to corporatize crypto in a lot of ways, which is. Which isn't good. But I think that will always find a way. There's always going to be a market. I think that bitcoin seems to be, you know, not within that realm of regulation that they're talking about, but overall, it seems like regulators are starting to kind of catch up with the conversation for better or for worse.

Now shifting gears a little bit into more crypto security. What do you think about security in the crypto market and should people be worried about that, considering a recent Coinbase attack?

Well, I think we should always be worried about that. Right? We've seen countless attacks targeting exchanges, especially a lot of the phishing scams. And we saw that with Coinbase. Reportedly, I think 6, 000 accounts were compromised earlier in the year. So I think that this threat is always going to be there. It's probably going to increase as the valuations of crypto continues to grow. So even though security is on the rise among these various exchanges, as the value of bitcoin and cryptos rises, are going to be primed for attack. So I just don't see any way around that in terms of the actual thread. So what you can do is you can store your crypto, you know, off of exchanges. That might be the best way to go about it and to learn not to be susceptible to phishing scams, especially.

Not your keys, not your cheese.

Exactly.

I think keeping coins at exchanges is just crazy. So just stay with the fiat system if you, if you need somebody, somebody to take care of your money. So, Sam, keeping on the exchange subject again. So do you think exchange should play a more important or central role in education? Too many scams. We're seeing so many listed coins that developers simply go away with the money. So do you think exchange should be intervening or educating more?

Yeah, well, I think what they should be doing is maybe upping the standards on what coins get listed. I think that might be a really good start. Like, you know, not every Tom, Dick and Harry coin should be listed on exchanges, but you do see that, right? There are certain exchanges where getting listed is really easy. I'm not going to mention them right now, but, you know, so I think, I think Coinbase kind of had a really high standard, but then you see maybe some coins that some people don't necessarily think make make that grade. So I think they should be setting a better standard on the types of coins that they, that they are able to list. But overall, it's a free market and I think that people should do their due diligence. And ultimately the best way to avoid those types of scams is to really educate yourself and to don't buy the coin that was created last week and then pumped on a, on a random exchange.

So we'll talk about like, like being created last week and being pumped like with this whole NFT game has gotten a little crazy the last couple months and like, I don't know, what do you think about longer? It's, are they ever even going to be able to sell these NFTs on exchanges? Like how is this, what's the long term game of this NFT thing?

Yeah, I mean honestly Jordan, from a adoption standpoint, in a lot of ways I don't really get NFTs, but the market seems to get them. I think we saw 4 billion in, in turnover and transactions in August alone. We're seeing billions of dollars flow onto, onto NFT platforms and, and then the facilitation of the transactions. So it seems like this market for digital collectibles, whether it's on the sports side or the art side, it seems like this is something that people really, really care about and they really, really enjoy. So I actually see it as being a, a new niche within crypto that can probably stick around. Don't ask me to explain the value proposition because I don't get it, you know, but I guess I don't have to.

Right?

I guess enough people get it that the, the NFT market is now a multi billion dollar market.

Yeah.

No, I do want to kind of like zoom out here from a macro perspective and obviously El Salvador earlier series, big news. So what is your opinion about El Salvador as a use case or study for the rest of the world and has it been successful so far?

Well, I think it's a fascinating use case especially it's a country that I think for me it's like a perfect size to really experiment with something like bitcoin and in crypto. And if you take a look at the president, what he said, it seems like it has been a success because we saw, I believe an adoption rate of over 30% so far actively using the Shivo wallet. So people are using it. It seems like it's trending in the right direction despite there being some protests and the burning down of an atm. I think that the way I see bitcoin, I don't necessarily see it replacing the monetary system. I see it as a parallel to the existing monetary system. And in that capacity seeing a country like El Salvador adopted into law I think is fascinating. I think there's Going to be other countries that follow suit as well. Good.

Makes sense. Yeah. And speaking of adoption, how about your experience, Sam? Have you been able to convince any friends or family to invest, I don't know, 30, 50% of their assets in cryptocurrencies?

Well, I've convinced people to go. I've talked crypto to all the people that I'm close with, but I never advise them to actually buy anything because I personally don't think they can handle the volatility. Just being very honest. But I have convinced several people to actually dabble in the market. They actually ended up dabbling way more than I, than I would have recommended. But a lot of people now actually it's interesting because you start getting comments and messages from people you haven't heard from in years about buying crypto. I just got one this morning as well. So that for me is, is a, is a, you know, barometer of where we are right now in the market. Right.

And speaking of volatility, what do you think about the price action for bitcoin head into the end of the year? Are we gonna get to 200,000 like Bobby Lee's like always wrong about.

But well, wait, Bobby Lee said that?

No.

Then in that case, we're definitely not getting there in that case.

So I think Bobby. No, but, but look, I think Bobby Lee said it recently too.

Like, look, you just made me nervous there, Jordan. In that case I have to revise my, my outlook. But no, that's why I'm saying it. Yeah, yeah, I, I've been, look, I've been following this four year cycle theory since December of 2018 where we identified the bottom and given, you know, the having event, we're able to kind of maybe create a model for where we think bitcoin is going to go over four years. I was expecting the market to peak in Q4 of this year after the puke that we saw back in April May. I've kind of revised that. I think that will probably peak within the next two or three quarters. So it could go into the Q1, into the Q2 of next year. I don't necessarily have a price target because, you know, those are notoriously difficult to predict. I do think this cycle we will hit a six figure bitcoin and obviously the entire market will rise with it. And then beyond that we'll probably get into a bear market at some point. There could be something said about the cycle theory. The cycle theory may no longer pan out in the future, but I do expect a massive correction at Some point after this bull, this bull market, what.

Would that correction look like do you think? Like 50K? Like what?

Yeah. So obviously you're always going to get people who say this time is different, this time is different. You got institutional adoption, you got corporate balance sheets, you got governments. It's not gonna. Guys, we just saw 55 correction during a bull market. So during a bear market we're gonna see something probably even bigger than that. I think it go if we hit six figures we can probably go below 50 I think and consolidate in a lower range, maybe in the 30s. But that's going to depend on how high we peak coming into the next few quarters in my opinion.

Excellent insights as always. We appreciate Sam Borg joining us today from all different perspectives. Security, macro, price talk. We love hearing from Sam, big friend of the show. We appreciate you joining us on the market report today.

Thanks a lot guys. Anytime.

Yeah, definitely. And we are going to post up a quick poll on on Twitter here. If you haven't voted, where do you think eth is going? Do we crack 5k? Do you agree with Sam Borgi? Could we see a six figure of bitcoin? We want to hear for you. Hit our Twitter up. We're Coin Telegraph and make sure that you are liking and subscribing on YouTube because we're here on Thursdays at 12pm if you want the latest price action in the market news you come to Cointelegraph on Thursdays for the market report. Subscribe. Smash that button right there and turn on the notifications so you know when we're posting our shows and we we're going to have an exciting segment this week. A lot of talked about and Markets Pro. So let's, let's jump right into this head first. Let's go guys.

Foreign.

Guacamole. It's another newsquake. Did you see it? Did you catch it guys? It was stellar this week. News that moves the crypto market. The Newsquake service brought to you by Markets Pro helps traders stay on top of important developments. If you want industrial grade technology in your pocket you gotta get Markets Pro. That's the whole bottom line of this software. You don't want to miss out on this newsquakes if you don't know them. They're automated alerts that instantly notify users when market moving events happen. So all of our subscribers of Markets Pro they get a little alert every time something massive happens. Guess what? You get that on your phone this week it was xlm Danilo, let's pull up this XLM chart. Look at that newsquake. You love to see those newsquakes. And that white line right there, that's your price line. What happened after that? Newsquake XLM absolutely searched. And so the news event this week was a big partnership deal with MoneyGram and Circle was stellar. And that's where we saw that newsquakes affect price. We see that on the chart for XLM. It's a beautiful thing. Shot up from 32 cents all the way to 36 cents in nine hours. That's a 12% increase, folks. You don't want to miss out on those gains. That's why you get Markets Pro. We're going to shift over to our next token to watch this week. Axie Infinity. I know I've been watching this like a hawk on the Markets Pro platform almost every hour. I'm checking in, I'm looking at it. Axie Infinity has been on the radar for weeks now. This week it's the Vortex score. If you guys don't know what the Vortex score is, Vortex Score is a comparison between current market and social conditions of those in the past. A high score indicates the assets outlook is quite bullish. And so this week we saw that vortex score crack 80 which is a bullish indicator. And we see that white line again. Price action. Love to see it. Markets Pro. You want this, you need this. You got to have this in your toolkit if you're a trader. This is huge stuff. That price for Axie Infinity broke a new all time high. If you're using Markets Pro, you're able to catch it and you're able to ride that wave up and I just absolutely love using this. So that all time high for axie infinity cracked153 this week. Huge week for Axie Infinity. I know it's been, we've, we've talked about it several times on other shows but oh my gosh, it's, it's absolutely fascinating to watch. Absolutely love the Markets Pro platform. If you haven't subscribed to it, highly recommend you checking it out. That's our Markets Pro coins to watch. Yeah, we love the Markets Pro platform and you should too if you haven't asked questions in the comments. Jordan, what do you got for us?

It's going to come tie back into the person that asked about what's going on with XLM earlier. This is a pretty good sign of validation I think for the whole protocol as a whole. And it also speaks to like usdc. It's kind of sneaking in there as like the chosen stable coin and, and circles also becoming even. Like I said it before, I think the US is going to go the route. We're off having private companies kind of help with the CBDC kind of a thing and I think they're kind of using USDC as a, as a bridge to that kind of concept. I don't know what you guys are thinking, but I think there's still a lot of upside for Stellar. That's not investment advice though.

Barcelo, are those tokens that you're watching?

I think Stellar is filling the gap that XRP missed the mark by trying to, I don't know, fight with regulation, then changing the topics to know we're gonna work side by side. But that was too late by then. So I think XLM has some potential and X Infinity, it's getting crazy. The whole NFT mania attached to gaming, the potential is ginormous.

So I just want everybody to know, like long time ago, before you all saw the live show, we were practicing and at the end we had talked about actually Infinity. At the end, Marcel, he's like my expert opinion or expert recommendation. If everybody's talking about a token, just buy a little. Even if you don't know it, buy a little of it. Yeah, it's gonna go up because everybody's talking about. And that was like when actually was like 20 dol know and now it's over 100 and something and has he.

Bought any and I didn't buy it. Yeah. What a mess.

Axie Infinity just ripping through the universe. Play to earn is not going anywhere, folks. I'm, you know, I, I think at the end of the day, like we've seen this use case, huge backing with Axiom Infinity there. I mean again, if you're not, if you're not checking out Markets Pro to track these things, you should be because that platform is awesome. Use it every day. Use it every day. Ask your questions. We want to hear from you folks. Our loyal audience that's watching today. Hit us with your questions because Marcel is going to dive into some interesting topics. And you know, throughout this next segment here, if you have the questions that you want to hear from Marcel, plug them in chat. Today we want to hear from you folks. So let's go ahead and roll things over to Marcel's expert opinion segment for today.

Okay guys, so there was a story on Cointailer earlier today. The three warning signs that suggest bitcoin price rallies overextended. Danilo, you can share my screen please. So I don't want to make this personal. But if you track the three indicators that are mentioned on the story, you're going to find that whenever there's a 30% weekly pump in Bitcoin's price, those indicators are naturally going to pop up. And I'm going to show you what we're talking about in each one of them. So for starters, it's the funding rate. Funding rates in the red zone. So it's flipping towards the positive side of the funding rate. So first of all, what is the funding rate?

Yeah, I was going to say what is that?

Okay, so the funding rate is a fee that is charged either from longs the buyers or shorts the sellers to balance out the risk on derivatives exchange. So it belongs to the futures markets only. So the perpetual futures contracts. So average rate is usually between 0 to 0.6% per week, which is really nothing, it's really small. But when there's a rush of buyers coming into this rate can go up to, I don't know, 2%, 4% per week, which becomes costly. So whenever there's too many buyers, the fund rate goes up and the buyers have to pay. Whenever there's too many sellers, the funding rate goes negative and the sellers have to pay. But if we go back to December 2020, for example, when the market started a three month rally, this funding rate went up above one and a half per week and it lasts for over a month. So if the market is going up, those buyers don't care if they're paying a tax or a fee of 1.5% per week. They're just aping and buying and leverage buying. So the funding rate can stay long, can stay up for longer than one or two months. So I wouldn't worry about that.

All right, so you recommending that people kind of jump in now and, and buy at these prices because Bitcoin's going $100,000. Are you saying like let's, let's take a. Wait, we got a little bit greedy here. This, these, these, these indicators are saying we're a little bit over overbought. Maybe. What's, what are you saying here?

Well, the funding rate is not yet in overbought mode. It's not a red flag yet. As I said, it's like it's below 1% per week currently. It can go over 2% per week and last for over three or four weeks, depending if we are on a bull market. So I wouldn't be too much concerned about that right now. So same thing as the RSI that we spoke earlier which was above 70. Same as the fear and greed indicator, which is signaling greed from investors. Those are backward looking indicators, which means that they're looking at the 30% Reddit that we just did. So many of them will scream extreme greed oversold. Because, yeah, bitcoin red. But that has happened many times in the past. For example, back in August When Bitcoin rallied 20% in the week, the fear and greed indicator spiked to 70% screaming oversold. And what happened? We had a whole month of markets rallying. It continued to rally up to September 7th. So it's not because a single indicator or two indicators are saying market is overbought that you should be selling. And on the opposite, as you ask, is it a buy zone right now, Bitcoin? Yeah. If you believe the ETF is going to be approved, if you believe that the regulation in the United States is going to be easy peasy, that the stables coins are continuing to be circulating in the market. So it depends on what your view is. You shouldn't be deciding because of a single indicator. Got it.

That's good. I need to hear that, Marcel, because I know sometimes I see something and I'm like, that's it, that's my sign right there. I need to, I need to do it. But it's also understanding a confluence of several indicators. Is it important to, to take into your, your account? I, I do want to bring up a question. Big fan of the show here. Kaltoro is just asking some, some great questions today. So Marcel, from a macro perspective, would the printing of $1 trillion worth of coin affect markets? Assuming it happens, okay, Whether or not.

They'Re going to print the coin, the platinum coin worth a trillion dollars, United States debt, it's becoming ungovernable and everybody knows it. But the Federal Reserve will always lie to us and say that inflation is transitory, don't worry. Or that no, we cannot increase the rates right now because of the delta variant or whatever. They're going to make up lies as we go because they know if they increase the rates, the markets are going to collapse. And nobody wants that. Nobody wants to be blamed for taking the economy down. So what happens is slowly but surely inflation is going up. So whether or not they print the trillion dollar coin, they're going to have to put additional debt on the market or print money. There are many ways that they can inject stimulus, get stimulus to the economy. There are many ways. One of them is creating this fake coin worth a trillion dollars. But in the end, inflation is going to heat and they need to be careful.

They need to be careful with this stuff. Like from a psychological perspective, like, each time they do something like this, there's like an earworm. Like, people are starting to realize, like, oh, crap, they just print money. Like, even my kids, they're like 12 and 10 sometimes they're like, how come these banks can just print money when we have to work? They've asked me that question. So, like, they're like, they're just gonna turn around and print a coin. The platinum is not worth the trillion dollars. Where is all that value coming from when we as people have to like give our daily life to work to earn money and these people are just turning around and printing trillion dollars. Like, people are gonna start seeing that the wizard of Oz is sitting behind a curtain pulling some strings. They ain't what's really going on. Like, yeah, this is. They got to be careful what's going on because people are starting like, it's food prices are starting to go up. People are starting to see like, oh, crap, something's wrong with the system.

I don't know, Jordan. People, people, people are so used to that, they don't even question what's the value of those hundred dollar bill that they're holding. They still think that the government has some backing, some, I don't know, assets or reserves or income that's backing those dollars and they do not exist. But what's going to take for people to make this question or to understand what money is all about? I don't know. What's your thought, Benton?

I love it. Give us all the quantitative easing you want to, because that's going to all flood into crypto. If the smart money is going into crypto. Right now you're starting to see it. George Soros. Oh, by the way, hey, I actually owe some, you know, I own some bitcoin now and like, all the smart money is floating into crypto. Bring on the quantitative easing. Is it going to be good for the traditional finance system? No, it's going to be great for crypto and I love to see that. So, you know, I think all the smart money again is, is, is putting it into crypto and, and not having to worry about that. Inflation.

Yeah, I think, but I know, go ahead. I was just gonna say I think the bitcoin ETF is really going to start funneling big money into the crypto industry just because there's all this money sitting on the sideline and pensions, 401ks and all this stuff. Bitcoin will be like the savior to the system. Like okay, this thing is going up, everything's going down and just shove their money in it. That would cause like yeah, 500000 Bitcoin. But I did find that article with Bobby Lee said he thought it was going to 200k. So I'm like now it's definitely not.

Now. We, we do have a, a question from the audience. Thoughts on Adam or Kava. I know this is a little bit off topic from the, the indicators that you were talking about Marcel, but I would be curious to know are these two projects even on anybody's radar? What are your thoughts about this? You know, Jordan or Marcel, either one of you kind of take the floor here.

I think Adam is a really, it's one of my picks for a long term layer one solution, the inter blockchain communication protocol. I think that there's a lot, a lot of good stuff going on with Adam and when I've used the interfaces and stuff it's really fast too. All the different protocols.

That's the Cosmos blockchain, right?

Yeah. Cosmos ecosystem Tendermint. Is it Tendermint? I think it's. Yeah, I'm really, I'm bullish on Adam long term.

Yeah, I think the Cosmos ecosystem is interesting. Go ahead Marcel.

I think all of these scaling solutions, they rely, they depend on Ethereum 2.0 taking longer to be implemented. So I think that's the case. Ethereum 2.0 is going to take at least a year for now. So yeah, Cosmo has a shot to going to grow in this time.

Yeah. And Cava will do. I think Kava is probably one of the bigger D5 like platforms on, on the Cosmos ecosystem. So I think I'm bullish on a long term too. I think any, a lot of the, the bigger projects in, in that ecosystem right now will do well long term. Are they going to go blow off and then come back down again? I do think we're headed for a bear within the next year. So even now I'm not really looking to buy anything too much new because I think there's going to be a blow off top and come down. I'm just kind of starting to accumulate funds to look forward to putting to work when the next market bottom comes. Personally.

Yeah, we have another question coming in from the audience here from, from Bill Green. I think this is an interesting one. Thoughts on XRP and when it will be relisted. Marcel, expert opinion. What are your thoughts here on xrp?

I think that they're going to be viewed as a securities by regulators. So they're going to have to pay a fine and maybe detach some of the repo labs to the XRP token. But XRP is not going to cease to exist. It's just going to change a little, maybe create a foundation, something independent. So as before this happens, I don't think the biggest chains are going to release the xmp.

I know this XRP saga just seems to keep going, man. I don't know, it's like what is, what's the point of XRP anymore? Like, it's like the newer like protocols and stuff are starting up. I wrote an article about it saying like smart contracts have really moved the whole field forward and these older legacy projects even you're talking about a litecoin star lumens xrp, they're having to rely on other chains and smart contract capabilities of other networks now to try and like oh, we're still over a use case. So I don't like xrp. What are you doing man? Like what's, what, what. Why would, what's my motivation for using XRP now when all these other defies exploded, all these other platforms are starting to kind of come up. What's the motivation for it?

Yeah, it's been a constant tug and pull. Regulators, xrp, regulators xrp. Who's going to win? Nobody knows. There's, you know, there's news circulating, whatever that looks like. I, I think it's, they'll be realistic. It's just going to be a matter of time. You know, that's, that's kind of how the XRP situation is, is unfolding I think. But yeah, I do want to bring up, we had, we had Twitter questions this week. We asked our community ask us questions on Twitter and so we're going to field that question. I think this is going to be a great question that I'm curious to hear both of your stances on. So which coin should I invest in? Tether or Bitcoin? And we appreciate Palpoce pal ponce for it for asking this question on Twitter this week. Marcel, you're laughing. Why are we laughing at this question? This is a serious question.

Tether BTC man, Tether is not really a cryptocurrency. It's like as SEC president said, Gensler is like a mutual fund that invests in, I don't know, some Chinese companies or wherever. But it doesn't intend to have a potential. It intends to be hold a dollar parity and I don't know, it's not something you should Invest on. It's not meant for that. So if you're new to the industry, just put like 10% of your savings or 20% of savings every month on BTC and wait a year. That's what I recommend.

Yeah. Heather or btc, I would, oh gosh. Tether. Is this, Are you, are you Fiat? Are we doing Fiat or btc? It's kind of the same thing. It's just a digital form of Fiat and on top of it it's like super shady. Right? I think if I were talking about stable coins I would go with USDC personally. Again, USDC Circle integrating with stellar lumens and the government potentially. But. Oh, I don't, I, I get, I started to get anxious. If I, if I cash out in this tether, I'm like, what's gonna go on with this man? Oh, let me. Where can I, where can I exchange this to something else? Where can I exchange to something else? There's so many cool. Like if you actually are being crypto and want to support cryptocurrency, maybe support one of the growing decentralized stable coins. Even a die, was it like a vi? Now there's so many different ones starting to grow, different projects that are trying to become reserve currencies like Olympus dow. Like there's so many things I would look into versus, versus Looking at Tether.

Yeah, guys, no brainer. This is a no brainer and I'm not offering financial advice. I'm gonna just clearly lay out the, the, the road map here. Tether. If you want to sit on the sidelines for a week or two, you get into Tether. If you want to do an on ramp into crypto, you get into Tether. I, I'm not investing long term in Tether, nor am I holding that long term. This is just like a pit stop to fill up my gas tank and wait on the sidelines to get into btc. BTC is the goal. You want to get as much of that as you can, your dollar cost average in just like these institutions are doing now. That is a smart move. I'm not sitting here saying, you know, giving you financial advice, but I'm trying to lay out the lay of the land for you guys. It's, it's bitcoin. This is no brainer.

Yeah, but I would, I would push back and say they're looking at area more than they are Bitcoin. Now. Didn't they have to include Ethereum with a Bitcoin ETF or something just to, or just to get it more like more momentum. They had to include Ethereum with bitcoin on a product because people were more interested in Ethereum at the time.

They tried but the SEC rejected so they, they pulled out.

Yeah, exactly. Well a heck of a week for crypto this week and a heck of a week on the market reports. I know we had a lot to discuss today and is gonna, is is Pumptober going to continue and live up to its name? I hope it does and we're going to find out. Make sure you all are tuning in next week on Thursday. We appreciate all of our audience members for asking your questions. Feel free to drop questions in on Twitter. Be on the lookout for those posts so that you get your answers next week on the show like and subscribe. Turn on the notifications. We appreciate everyone for joining this week. We love you all. Thank you. It's the market report. Until next time. Deuces it.