Buy the Bitcoin ETF rumor? The fate of altcoins, TOMO, STX | The Market Report w/ Mati Greenspan

Sam foreign.

Hello, friends, and welcome back to another episode of the Market Report. We're here in Uptober or pumptober, depending on how you want to look at it. I'm your host Benton, and we are joined again by our resin expert experts, Jordan Finisoth and Marcel Peckman. Jordan uses his background in psychology and human behavior to spot emerging trends in crypto. Marcel applies his 17 years of experience trading derivatives options futures to the crypto derivatives markets. Our guest this week, you don't want to miss this, Mattie Greenspan, CEO of Quantum Economics. Welcome back, guys. How are we feeling this week? Bitcoin sizzling at 58k. What's going on, Marcel and Jordan. Jordan, what's up, man?

Not much, man. Just looking forward to seeing if a bitcoin ETF gets past here soon and how that might affect the altcoin market. We'll see.

How about you, Marcel? How are we feeling this week?

I'm on the same page. I think people are underestimating what's going to happen when the ETF gets approved. It doesn't matter if it's going to capture $20 billion or $1 billion because we just need a FOMO. The good news. So we're going to rip all kinds of pretty soon.

Yeah, lots of, lots of murmurs about this bitcoin ETF floating around the crypto verse. You know, is this maybe us just trying to manifest something good? We've been talking about it since 2013. Hopefully we'll see something happened. But today's show is action packed. We're going to go through our markets news rundown, give you some of the biggest news stories this week, followed up by our guest interview with Matty Greenspan today. Then we're going to touch on Markets Pro and Coin Watch ketchup to show you some of the highlights of coins that have absolutely ripped through the stratosphere in the past week. And then we're going to have Jordan walk us through his expert segment. So before we jump in today, we want to interact with you all watching today, our very loyal audience. We appreciate you tuning in, make sure you're asking us questions. We're going to stop intermittently throughout the show and we're going to pull up questions and answer anything that you all have for us. Every question goes when it comes to crypto. We want to talk to you and we appreciate you for tuning in. And if you haven't liked and subscribed, make sure you do that. Cointelegraph on YouTube 12pm on Thursdays. We're here like and subscribe. So let's go ahead and jump right in to our market news segment for this week. All right, folks, we're talking bitcoin. I'm going to pull up a nice little article from Cointelegraph this week, and this one was written actually by Marcel Peckman himself. So bitcoin bull's target price is above 58k ahead of Friday's 820 million options expiry. So I'm going to point us to a couple different excerpts here from the article itself. So if bitcoin happens to enter a parabolic move toward 110,000 that would finally match Plan B stock to flow model predict, according to the synonymous analysts, the scarcity and valuation of gold and other precious metals and Elon Musk's energy FUD in China's mining crackdown are a few factors responsible for the past five months of 50% or higher inaccuracy in this model. So I want to kind of touch on this real quickly is where are we in the current state of bitcoin? How are we feeling about this current price level at 58k? Marcel, how are you feeling with where market sentiment is at right now?

Okay, so I think we are on a make it or break it event, not only because of the potential ETF approval, but also because of the US Regulation. We just had the Chinese mining crackdown and Chinese banning bitcoin, we went down to $28,000. Now we're back to 58,000. We're coming out stronger than we've entered the market. Why? Because the last time we've seen the 65,000 top, the market was really over leveraged. People were abusing of long futures contracts. And when that happens, it's pretty easy for the bears to whack the market down 10% and then cascading liquidations go through and the market goes down 20% and it happens again. So we're out of this cycle. The market is kind of slightly bullish but neutral right now. So it's going to be a good ride if something good happens.

So do you think it was mainly just like oversold conditions and just like a kind of a series of FUD that really pushed the price down and just kind of helped to consolidate and now we're going to head back up.

Had the market not being so much over leverage on the buy side, that would not have happened. So the FUD doesn't cause 50% or 60% crash. What causes is excessive optimism and we're not seeing that right now.

Okay. Yeah.

And so another point from this, this article is that bull's hopes mostly cling to an exchange traded fund being approved by the United States securities and Exchange Commission. Again we talked, we talked about this in the intro to the show. How optimistic are we feeling about this? ETF is purely speculative at this point. But what could that bring for bitcoin in the days, months ahead if that were to get passed before the end of the year?

Marcel, it seems like that's the big draw. Even when I got into it in 2017, that was a big Bitcoin ETF. Bitcoin ETF that was pulling everybody else. It seems like they pull that out every four years just to get the market pumped up. There's a lot of different changes that have happened this year. We'll see. I do think it's like more likely that it'll get passed. But that comes down to what the regulators and what the President thinks. Right?

Exactly right.

It's a psychological, it doesn't really matter how much money is going to flow through the etf. It's psychological. Traders need a trigger to FOMO and this could be it.

Do you think that it cause like a cascading sell off, like buy the rumor, sell the news like we were chatting about before, like it's gonna pump up and then all the bitcoin whales are just gonna sell all their holdings because like man, it's yeah, a hundred thousand dollars. Sell it.

Yeah, yeah, sure it's gonna correct sometime. I don't know if it's at 90, 130, but if the news comes out, it's gonna have a really nice bump and then followed by a correction. That's natural. You understand psychology better than myself. So yeah, there's going to be a correction, no doubt.

And so Marcel, you have this chart here in the article. Walk us through this, break this down because I, if I'm reading this correctly, we're talking end of the month October, potentially 76k. What is this all about?

Okay, so markets doesn't really give some explanation on charts, don't really give an explanation on why this something is going to happen. But we can see a trend that we've bottomed in late September and the attitude, the, the sentiment changed. Of course, whenever the market goes up 20 in a week, the sentiment changes. But what you need to do, what you need to do is understand if the market went over leverage. So it's, if it's over optimistic or if it's okay. We, we are in a slightly bear market when we're out of it right now. So it's a segment change but without going to over leverage. So that's exactly what's happening right now. So I really see room for 80 to $90,000 towards the end of the month.

Wow. I don't know. Like, is it just the rumors of an ETF that's going to pump us up there? What's going on? Is it like just a TA on the analysis on the chart?

Like ah, yeah, it's just, it's just the TA that the TA doesn't tells you why it's going to happen, just shows the possibility.

All right. The last thing I do want to bring up about this article is the the 830 million options expiry is largely impacted by 20% price rally initiated on October 4, which most likely eliminated 90, 92% of the put sell options. Marcel, if you could quickly kind of unpackage that. I know you've previously spoken about this Episode two. If you want to learn about options, put call options, those kind of things, go check out episode two of the market report. But Marcel, if you wouldn't mind unpackaging, why is these, these expiry such a big deal for the bitcoin market?

Okay, Bethan, so really quickly, the call option is a right to buy bitcoin. The put option is a right to sell bitcoin. So we usually attach the call option with bullish strategies, neutral to bullish, and the put option with protective bearish strategies. So whenever the prices go up, the put options so the right to sell, they go underwater. So they're not going to take part on the expiry. So what happened after this 20, 25% weekly move is that 98 or 96% of the put options, the bear bearish instruments are underwater and will not take part on the expiry. So bulls have a roughly $350 million advantage if the price remains above $58,000. Tomorrow morning on the Weekly Options Expert.

Excellent. Though I appreciate you always breaking that down because that's just a subject matter that I just, I need to learn more about. So Marcel, that's why you're a resident expert when it comes to that stuff. But shifting gears here with this bitcoin talk, we've had a few billionaires talk about it recently and so I'm going to pull up another article from Cointelegraph here. So billionaires are backing bitcoin over gold, but some say Ethereum is even better. Barry Sternlich said, the reason I own bitcoin is because the US Government Every government in the Western hemisphere is printing money now until the end of time. And so I want to kind of like touch on this because you've heard Jamie Dimon come out this week and say bitcoin is worthless. And the only reason why he's even kind of like, considering it is because some of his clients are interested in the asset class. So why are billionaires kind of choosing bitcoin over a more traditional asset like gold? Marcel, I'll frame that one to you.

Okay, so gold had their chance. Over the last 10 years, gold wasn't really able to break $2.1000. So it's back at $1.8000. And we've been on a semi crisis mode. Inflation has been building up and gold price failed to accompany it, mostly because who are the biggest holders of gold? The governments themselves. So people, the funds and the regular people will not be buying the same assets that is held by governments. Because if you want, if you don't, don't agree with the system, with governments printing endless money, why would make government stronger by buying gold? You're going to go to real estate or you're going to go to bitcoin. You're going to search for alternative methods of investing. So gold is kind of already lost the battle.

Yeah. I think a lot of what we're seeing is a demographic shift too. Like the billionaires are billionaires because they're intelligent and they know where to put their money. And anybody paying attention, like just again, demographically speaking, the baby boomer generation and the, the silent generation before them, they're getting older and they're starting to pass down their money to the millennial generation and their kids and the forgotten generation in between. I can't remember the but.

So.

We are, we're all more interested in cryptocurrencies. Like the billionaires see this happening. I think in the future, millennials are going to be driving the whole investment arena a lot more. And we're far more interested in bitcoin and cryptocurrencies than we are in the old legacy system. Anybody paying attention realizes that they completely control the price of gold via CME options or whatnot. So anybody like, this is just a new game in town. The younger people are of the digital age. We've grown up around computers. You can't really put gold onto your computer and transact it across the world. So bitcoin is just the future. Yeah.

I think we can use the same argument for NFT. I'm over 40. I don't get NFT. I would never buy an NFT, but I see that other people, mostly more open minded or younger than me, get it, but I simply don't.

Yeah. And so one last question for here. I'm going to pull up what Mark Cuban said in this article. So Cuban said that BTC is better than gold before going on to say that he thinks Ether has the most upside as an investment. So this is our opportunity. We want to hear from our audience too. Is Bitcoin or Ethereum, which one has the greater upside? Jordan, what do you think?

Probably Ethereum. Just because so much is happening on top of ethereum with DeFi NFTs and all that stuff and the money people see that happening as well. And I think a lot more money will flow into it just because you'll need eth to transact on the Ethereum network. So that gives it a lot more value in my opinion.

Marcel, I think Ethereum is competing with, I don't know, banks or Amazon or whatever, but Bitcoin is competing with gold, with real estate, with bonds. It's a much bigger market. So I think the upside is much higher for Bitcoin.

I'm in the camp of Ethereum having much more upside. I think the decentralized finance aspect of Ethereum makes me super, super bullish. But I mean I have love for bitcoin so all the bitcoin maxis like don't come after me. I equ love both but I just think in the long run Ethereum can have a lot more upside potential. So we have Franklin McLaren. Hats off fellas. You called the uptick on BTC. Keep up the good work. Thanks for tuning in Frankie. We love it. We want to, we want to shift over. We are going to be bringing on our special guest today, Matty Greenspan that you don't want to miss. So if you haven't liked and subscribe, make sure you do. So we're here Thursdays 12pm and send us some comments and questions here to ask Maddie today while we are chatting with him, we're to pull them up on screen and let's go ahead and bring on Maddie now. All right. Matti Greenspan is the founder and CEO of Quantum Economics, a firm for analysis, advisory and money management that focuses on fintech and the digital asset space. He's the former senior market analyst of Etoro. Matty has a deep passion for understanding the financial markets and discussing the best trading opportunities to invest in. Fun fact. Matty actually wanted to be a musician up until his late teens and early twenties. How are we doing today? Matty, thanks for joining us.

Good. I just had a good jam session yesterday, so that dream is back alive now. That.

Right on.

Now that we've seen several bull cycles in the crypto market, I have a little bit of time to dedicate to that stuff.

Excellent. It's good to hear. Well, I do want to open up our first question today. So, like, how did you go from wanting to be a musician and going to music school and having now a career in finance? Like, what was that like for you?

Well, I met my wife and she said, well, you're not making any money doing music, so you better go get a job. And so I found a job. I had a friend of mine that lived down the street and he says, oh, well, you speak English really well. In Israel it's a commodity apparently. And they had me selling stuff on, on the telephone and it was, I was at a company called dsnr. We were selling green card lottery tickets and it was kind of like, it's kind of almost a scam, but not really because kind of legit because they were doing kind of like this processing for people. But basically after six months I had enough. I was like, no more. And then I got a job at AVA FX in 2008 and I've been inside the financial markets, online brokers ever since.

So like a quick follow up question for you here. So like, what was that light bulb moment for you? Like when you realize like, holy, like crypto is my future, like, what was that like?

So March of 2013, I was working for eToro and the CEO Yoni Asia send out a blast email going, look at this. It's a new form of money that lives on the Internet. And I was like, whoa. As somebody who's been watching the financial markets, the 2008 crash and the subsequent bailouts and everything like that, I was extremely excited instantly upon seeing that we now get to control our own form of money and we don't have to rely on governments and central banks to do that for us.

So it seems like, like the institutions have kind of been kind of dabbling in crypto since your company Etoro did back in 2014. I know you mentioned it earlier in the pre show. Do you think that institutions are getting more involved now and what is doing that? Or what do you think? Is it just kind of hype behind the Bitcoin ETF and institutions?

So that's a good question, Jordan. And they think there's no shortage of crypto analysts out there who are ready to say that Institutional adoption is happening, but I haven't seen the evidence personally. Maybe I'm not an insider enough or whatever, but I'm just looking at the publicly available data and information, which is grayscale volumes, for example, and CME volumes, and I don't see any sort of massive ramp up in institutional activity. So not that I can tell. But I guess if and when we see a Bitcoin ETF approval, I think that'll be the ultimate test. Right.

So Matti, on institutionals, we've seen negative interest rates over the world for the past couple of years. And even by having negative interest rates, institutionals failed or barely entered bitcoin and cryptocurrencies markets.

So.

What do you think that needs to happen for institutions to really embrace it?

I think it's just a matter of time, really. Right. Because the natural properties of Bitcoin on paper should be extremely attractive to fund managers. Right. The fact of asymmetrical risk, for example, the uncorrelated aspect that allows people to use it as a hedging tool in their portfolio. Portfolio managers can use it as a real tool. So they're constantly looking for uncorrelated assets. But I think there's also, you know, that kind of stigma that came out, you know, in the early days as far as financial media was concerned and especially financial brokers, I can tell you I have, I know somebody who's extremely wealthy and you know, he's. I don't really like all that bitcoin stuff, like. Well, how do you know? Because my broker told me, and his broker doesn't offer bitcoin. I happen to know that. So of course they're not gonna, they're gonna be downplaying it because they're not selling it. And then as soon as they sell it, then they can, you know, they can kind of talk it up. That's a process. And I think that over time, you know, building new bridges, building new derivative products, ETFs, those type of things are helpful, but I think it's just, it's just a matter of time really.

And now that like financial news organizations view Bitcoin as almost like any other financial asset, what do you think brought about this shift in point of view for Bitcoin or crypto in general?

Yeah, well, we're still waiting for Bloomberg to add a BTC and ETH ticker at the bottom of their screen. Right. They've become more comfortable with it. And the thing to point out about the news and the media and people often get wrong about news and media is that it's an extremely decentralized industry. Meaning that Bloomberg has more than two and a half thousand analysts and reporters from around the world. So each one has obviously their own opinion. And I think that slowly but surely we see more and more of those reporters and analysts coming Pro Bitcoin. Mike McGlone from, from, from Bloomberg, famously, I mean, he's, he's, I think he's probably been beating this ETF drum the loudest out of everybody. And then everybody's like, well, a Bloomberg analyst is saying it, so it must be true. Right? I think we'll, we'll see. We'll see pretty soon.

Go ahead.

No, I was just going to say. So, like, when it, when it comes to news coverage of bitcoin in particular, like, how big of an impact do you think that has on the actual markets when it comes to mainstream coverage?

So you're asking how much of an impact does price have on, on, on the news or does news have on the price? Because actually, I think that there's significant impact on both. Right. Because people who are buying, they look, they read the news to figure it out, and people who are writing the news, they look at the price to see what they're going to write about.

What do you think it would take to get to, like, that broker you mentioned to get into bitcoin? You think it's going to take regulatory clarity from the government or, or like Bloomberg actually putting that ticker on their sign, like, oh, okay, we can get into it now. Is it something like that?

Well, I, I actually spoke with the broker as Morgan Stanley, their private investment bank, and they said that they're working on it. So in the meantime, they're, they're, they're feeding him, telling him, no, no, no, no, no, it's not a good asset. As soon as they come out with their products, and they will, then, then they'll get him in, involved.

Is that a way to kind of keep him from going to other houses that might offer it or.

Yeah, but, but to answer your question, Benton and I just sent a tweet about this. Really, this, this market, it really goes from hot to cold and cold to hot pretty instantaneously. It doesn't spend much time in the middle. I mean, the, the chart I used on my tweet was really the Fear and Greed index. And you can see it just goes from extreme fear to extreme greed in like a week. So, I mean, and, and that's, and that's, that's really a process of, you know, how you know how people wake up in the morning and there's. There's a lot of speculation in the market. So if there's, you know, some positive news out there, people might be, you know, more enticed to buy and then that'll cause the price to go up and then there's like this snowball effect. And the snowball effect works in reverse on the way down. Not much you can do about it.

Now, when it comes to that volatility, do you think in the long term that swings from fear to greed, will kind of fluctuate less once it becomes kind of a more mainstream asset for institutions and that kind of thing?

Yeah, and I think that anybody who is planning on buying the rumor and selling the news on the ETF is kind of a fool. Right. And who wants to pay capital gains on that crap just a whole long term. And if the market dips a little bit, you could buy more. But selling. And what are you going to do? Hold cash? What are you going to do with it? Right, right. If you need to get cash to buy a house and you're just waiting for the 20 ETF, you know, fine. Bless you, honestly. But everybody else, I mean, if this is a store of wealth, what are you doing Trading?

Right.

I have a tough one for you. I know that the answer is not, but if the ETF gets approved, what do you think happens to altcoins? Are they going to underperform, outperform or what?

Yeah, I think that this narrative of alt season, not alt season, bitcoin season, I think that it's a bit overrated and I don't think that it's predictive in any way, as we know. And you know, I have a financial broker's license and one thing that the regulators make me do, anytime that I show a picture of a chart, I need to say past performance is not an indication of future results. And I think that anything that any kind of analysis that we do, and this whole alt season, not alt season, originates from what we've seen in the charts, particularly the bitcoin dominance index, for example. I think that we've seen the bitcoin dominance rising lately, which was interesting. Even though some of the altcoins were going up, the entire market was green. But bitcoin was just outperforming just by a little bit, even while the stock markets were actually going down. So we saw a nice healthy atmosphere in crypto against a more shaky atmosphere on the global stage, which was interesting. But in my mind, I think the chart is a bit Less relevant. I think that at the moment we can think about total market cap of all cryptos is about 2 trillion. Total market cap of Bitcoin is about 1 trillion. So you know, it's about half. And that's how I keep my portfolio. It's about half bitcoin and half altcoins. And I'm pleased to say I actually, I thought about it the other day and I was like, for the first time and probably in my entire life, I don't have exposure to any traditional assets. At the moment I'm, you know, 100% in the crypto market.

That is awesome to hear. Love to hear that. We're obviously all crypto nerds here, but so it looks like we have a question from the audience from Ben Matti. Do you encourage day trading or simply buying and holding?

Yeah. So I think that, Ben, that's a great question. And I've seen throughout my career thousands of newcomers, people come into the market, not necessarily crypto market, but all markets. And when I first got in 2008 in the forex market, it kind of blew my mind. But I did the research and I found out that only about 2.5% of people who try day trading are actually successful and the rest end up losing most or if not all of their money. And I think that what's incredible, especially you know, right now in bitcoin, I think that probably 94% of all addresses are in profit at the moment or some ridiculously high number. We basically flip that on its head. Head. But that doesn't work if you're day trading and it doesn't work if you're leveraging, because if you're leveraging, you're going to get liquidated. And that's always a possibility. If not probability. If you're trading with leverage, you lose the assets. But if you're just holding, the price can go down, but you still own the asset and nobody can take that away from you. Once we do see a new bitcoin all time high, that number moves up to 100% of addresses now in profit, obviously. And we've basically been able to flip that on its head. But not if we're foolish, if we're foolish. If we go back and start day trading and thinking that we can predict what's going to happen every day of the, every day of the week by what's happening in the news or what the charts are telling us. There's nobody, I've never seen anybody in my entire. Of the thousands of people that has been able to consistently, day in, day out, over the course of more than a year, make profit day trading.

And I think that that brings up like a very important point where it's like, I have friends that are newbies trying to get involved with crypto and they're like, hey, what, what should I do? Should I do trade trading? I'm just like, buy and hold, buy and hold. Like it's, it's very easy and it's, it's, there's simple steps to, to get involved with it. And buying and holding is, is obviously one of the better ways to do that.

Diversification. Those two rules, you can go wrong.

Exactly right. So I do have a question regarding you receiving your first bitcoin as a gift. And so would you say that this is what started your journey into crypto or was it more of that experience at Etoro that really kind of opened up the door for you to get involved with the industry?

Yeah, so it actually, it's the same story really. Was first that email that I received from Yoni Asia and then a few months later he's like, well, I want our employees to get more involved. So he called a meeting about bitcoin where he had an expert come in and tell us about it. And then he said at the end of the meeting, well, whoever creates a bitcoin address, I'll give you one bitcoin. And bitcoin was like $30 at the time. And I'm like, yeah, I want to try it. So that really helped me and especially that, you know, that $30 worth of Bitcoin in 2013, by 2017 it was, you know, was worth significantly higher. And that helped me to have more hands on experience. Especially with, you know, when it came to Ethereum and you know, the dao organization that I was able to be involved in because I had that bitcoin on the side, I was able to convert some of it and actually invest and get that hands on experience. So I would say that, that it was extremely helpful from that side. But as you know, somebody who was doing market analysis and then suddenly you stumble on something like bitcoin. It was something that I fell in love with right away and was doing my shifted focus of my analysis quite quickly.

You mentioned the volatility and not really encouraging day trading. Are there any technical analysis points or things like that that you actually apply in your crypto management?

Yeah, sometimes I do look at things like Fibonacci retracement lines are moving average and the golden dead cross type of scenario. Certainly volumes are Important because they tell, they give you the momentum. But for me it's not about you know, like buying and selling on a daily basis as far as, you know, trying to speculate on the price, but rather more during the course of regular business. Right. I have clients and contractors so sometimes I'm receiving money, sometimes I'm paying money. And let's say when the price of bitcoin is particularly high, if it's, you know, or let's say if it's trading it, if we were at 70 or 80k I'd rather be selling, you know, sending payments in bitcoin and then on reverse, you know, if it's we're trading at 30 or 40, I'd much rather be receiving the bitcoin on the receiving end rather than receiving fiat money from a specific client. These prices, I'm pretty ambivalent. I'm comfortable paying and receiving at 55, 60K. It doesn't make much of a difference to me.

And do you have an opinion on the bitcoin versus Ethereum battle and which one is a better long term?

Yeah man. I mean NFTs are the future. I don't know if you, you've been following what I've been doing. I bought a stoner cat last night. I was my, one of my first large NFT purchases. I mean look, Ashton Kutcher, Mia Kunis and Vitalik Buterin are all involved in the same project. I have to be part of it honestly. And you know, owning the ownership of the token is actually utility and that you get. I don't know if it's bonus content or actual content that's not available to the general public. Like I have to have a ticket like the Bitcoin Miami conference, right where people showed up and they're like didn't have a ticket, you don't get in. So I just felt I had to. But I think that we can see Ethereum flipping bitcoin. I don't know if it's going to happen this year, next year or sometime in the future but I think that bitcoin has, and I think Marcel was kind of hitting at this, that bitcoin has all of the financial institutions, the bond markets and stuff like that that it might be able to slowly displace and it's not a one to one compari but I think that also and what a lot of people might be missing is that institutions who are thinking about yield, right and how do you obtain yield? I think that they might be a lot more attracted by a market like the defi market where you can actually earn yield. You can earn yield on Bitcoin these days as well. So they might be looking to maybe hodl bitcoin in places where they're going to get a bit of extra yield from that and that can maybe subsidize, but I think also within the stable coins. Right? So let's say if you're able to get 5% yield on, you know, by holding USDC, for example, in a defi protocol, suddenly we're talking about something. And especially if we add more risk mitigation factors and due diligence and things like that, we're talking about something that can be seen as a competitor, but that's for Ethereum is the sideshow, right? The entire third level of the Internet. Everything that we're talking about right now we're using mobile phones. We don't know what's going to be next. The Oculus, it's a nice game or whatever, VR headsets. But when we have some kind of device that's not necessarily handheld, but probably we'll wear it on our face or whatever, something that provides augmented reality. That's all the area of Internet of value. That's all the area of, you know, the metaverse and everything like that. Bitcoin has no place there, right? It does. It just doesn't even. It just doesn't even compute. I mean, people will, you know, you know, a bag of gold or whatever. But look what happened to gold. I mean, it got out. It got out phased.

Yeah. Excellent insights. I'm in the camp that Ethereum is going to outperform Bitcoin in the long term. So I guess we shall see what, what will happen in the future. But we, we really appreciate you joining us today on the show, folks. This is Matty Greenspan. Make sure you like and follow him on Twitter again. We look forward to hopefully having you again in the future.

You got it, man. Thanks a lot for having me.

Thanks, Maddie.

Thanks, Maddie.

All right. Always awesome to bring on awesome guests like Matty Greenspan. Really appreciate him jumping on today's show. We have questions and comments time. For all the audience members watching today. If you haven't submit those questions and comments in this in the section, we will pull those up periodically here throughout the day. But next we are going to jump into the Markets Pro segment. We got some coins to be watching, so let's go right in. If you haven't heard Markets Pro now you have. This is the greatest trading platform, institutional grade trading in your pocket. What more could you ask for Jordan Marcel? Do you guys use the Markets Pro platform? If so, what are you using on Markets Pro?

I enjoy the scanner feature. I can filter off the exchange that I have accounts on, so it's only going to show me coins that are listed on those exchanges. And I like to sort the volume versus average so I get to know what coins are trading above the usual volume. And then I'm gonna choose the the coins that I like the most and check the Vortex score. So before making any decision, I start by sorting the volume. The daily volume.

Yeah, I look to make a short term play. I like just on the front dashboard. It gives you like anomalous Twitter volume. Like when you see one that hasn't been pumping but the Twitter volume just shoots up. That to me, unless you can find the sign that it's something bad happened, that's usually a sign that something good is going to come forward in the future. I've seen like price appreciation after that's the case a lot of times.

You know what I love? I love the news quakes. News quakes make the markets move. And that's what, that's what the power of Market Pro is. It's in your pocket. Newsquake Service by CT Markets Pro helps traders stay on top of important news events. You want to have that, you got to have it. So this week, let's bring up the chart. Danilo, we got Tomo chain Tomo. We saw that newsquake happen down here. That's awesome. We love seeing those newsquakes. And look what happens. That price just skyrockets. That white line that you see there, that news quake popped off, we got the alert and then next thing you know, price is just absolutely pumping. So this, this particular coin, Tomo was trading at 205. And then that rally that we saw pumped all the way up to 237. You don't want to miss it. That's why you love the news quakes. Now the other coin that we're going to talk about today is stacks. And this coin in particular saw flashes on the Vortex score. Vortex score, for those who aren't familiar with it, is an incredibly useful feature on Markets Pro. It's an algorithmic metric that helps traders identify whether something's going to be bullish. And so this takes markets comparisons from the history and social conditions and combines it together. You get this score. So let's walk through what you're seeing here on this chart. This is stacks. You saw down here, that first circle with the red, that's A low Vortex score and we saw the price slide all the way down. And then what happened? Vortex score pumps all the way up to that green zone and then we saw price go up with it. So within that 72 hour window on October 9th to the 11th, Stacks saw a massive rally from A$44 all the way up to 229. That's great stuff from stacks. So we did see a little bit of that correction. So it also works on the opposite. So when that Vortex score is really low, you can see what may potentially happen or transpire based off of historical data. This is not a predictive tool, but it's a great tool to have in your trading bag. And we love the markets pro platform. Thank you, Danilo, for pulling that up. Folks, we want to hear from you. Jordan's going to have his segment today. We're talking Bitcoin ETFs. You don't want to miss it and its impact on the altcoin markets. Leave your comments, leave your questions. We're pulling them up and we want to hear from you like and subscribe our YouTube channel for Cointelegraph. Right there you see it. Smash it. Subscribe. And let's jump into Jordan Fences expert segment for today.

All right, so as we've already talked about several times today, and Matty mentioned it, the ETF is the big talk of the town right now. Is it buy the room or sell the news? And rather than just kind of touch on what the ETF does for bitcoin, I want to kind of delve into what it does for the altcoin market because historically we've seen this bitcoin will run up, hit a new all time high, then kind of enter a correct and correction phase if the price pulls back and then money kind of funnels into the altcoin markets and the altcoins really start to run. And I'm just kind of wondering like, how is that going to play out for this run in the future when, when we do finally get an ETF pass, is it going to like first the price of bitcoin way high and then are the whales going to flip over into the altcoins? That would, that would be like one of the biggest altcoin pumps, I think ever. And it also because the point of the ETF is to get institutional investors and, and like 401ks and pensions access to crypto. But when it pumps up, they won't be able to access most of the altcoin market. So like us crypto folks are going to be the real beneficiaries of all this institutional money coming into bitcoin specifically because it has. It's inevitably going to funnel into some of the all coins as traders and whales and just altcoin holders look to make some profits. What do you guys think on this? Is it going to be like a really, like a boon for the altcoins once an ETF get passed? Or. Or there's also this sub, this side argument where because of the rise of stable coins, the market is kind of decoupled from its dependence on bitcoin. You don't have to trade only bitcoin or Ethereum pairs on exchanges. You can now trade USDC or usdt. So is that making it so that there's a little bit of a buffer between a pro?

Yeah, you can trade them on USDC or USDT, but whenever Bitcoin is down 30 in the month January, all coins are down 50. So I'm thinking if the ETF gets postponed or rejected, surely we're going to see a correction on bitcoin. I don't know, 5, 10, 15, 20, I don't know. And it's going to be heavier on altcoins. But if the app gets approved, I really have no idea because I think everything's going to pump, but I have no idea.

Yeah, I mean, I think the bitcoin ETF opens up the floodgates for all coins. All tides tend to rise with bitcoin, so I think there will be kind of a little bit of a lag. But if that ETF happens, I think it's like, you know, that that's, that's a floodgate situation. So we'll see what happens. Is it end of year? Who knows?

Do you think that something like that will continue? Like, do you think we'll still see these big like 80 pullbacks like we have in the past? Like even bitcoin drops or pumps up to 150, 100, 150. And then you think it'll pull back to a 20k like, because again, in 2017, what was it? It was an over 80 pullback, wasn't it? So are we going to see that? Is that kind of done? If institutions get in, are we gonna. The 80 pullback game done, or are we. Is it going to be maybe more muted, maybe 20, 30 pullback? What do you guys think?

Jordan, you're the psychological expert, but in my, my view it's never going to. Well, it's going to change when Bitcoin hits $10 trillion market cap. But before that yeah, sure, we're going to see major corrections because cryptocurrency is still an emerging technology. There are still many flaws on something that we are not predicted. And lighting network for bitcoin is still under development. So Yeah, I think 50 corrections are going to continue because of human psychology.

So you would bet if it gets up to 50, $100,000 in tops out there, it's pretty standard that you think it'll get back down to 50? Yeah, there's a good chance about 30,000. Some people are saying 30,000, 20,000. I'm like, that's a, that's a big drop.

I don't know Bento, I don't see that. I don't see anything below 45, $40,000.

I mean, historically speaking, we've seen the, the 80 pullbacks. I think this run up will be different because if that ETF gets passed, I think that'll have a huge impact on that next run up. But the floor I think will be much higher. So maybe it's not 80, maybe it's 60%. But you know, we've seen the blow of tops happen historically. So speaking from historical metrics, I would expect definitely a blow off top at one point. We got a question from Sir Caltoro. Depends if the super cycle theory plays out, I think we'll always have pullbacks on BTC, but I don't know about 80% correction. So it seems like Kaltoro is also in that same boat when it comes to pullbacks or blow off tops. So very, very interesting. Looks like we're getting some sentiment from the folks watching today.

And again for the all coins, I think that this is going to be. If, if a bitcoin ETF does ever get passed, all coins are gonna just rock it. Because that's where we, all of us crypto folk actually have our fun. I know a lot of people that used to just focus on bitcoin and bitcoin. Bitcoin maximum. Let me, let me play futures and get those few percentage points. Once you get your first like 10 to 100x crypto token, you're like, man, that other game is kind of boring. This is fun. Yeah. And then I think go ahead.

Yeah. So speaking on that, you were an expert on nft, at least from the three of us here. So if the ETF gets approved, do you think that some money could flow out of the, the NFT markets to cryptocurrency and pressure NFT prices down?

I think that's already happened. I think we've seen the Bitcoin dominance go up lately just after the NFT market kind of peaked and pulled back. So something I think that's party off. It's already people are really anticipating the bitcoin ETF and they're starting to chase bitcoin priced higher. I even saw several people on Twitter mentioning it. Like every time it happens bitcoin starts running. Everybody drops their all coins to chase after bitcoin. So we did see bitcoin kind of popping up while the altcoins were struggling. But now some of the bigger altcoins are starting to catch up too. I don't know. Again I think that they introduced the predominance of stable coins now has changed the dynamic some. Of course I don't think if bitcoin drops the whole market tends to drop follow too. Yeah, maybe like 2% of tokens might not but yeah on the long term.

Yeah, I mean so if we're looking at the NFT market though itself, I mean that is a heavy retail market right now with like not in regards to the actual marketplaces themselves, but the people buying a lot of these NFTs are retailers and so it's like do you think institutions are going to get involved with the NFT space?

Jordan Institutions. But somebody or like a credit card company already bought one so they're seeing them but it's more from the marketing side. Like again that's, that is, that's the, the psychological part of it. These companies that are trying to make business in the cryptocurrency realm need people doing it. So they're going to follow what people are more interested in which is currently NFTs. So they might like you see Coinbase launching an NFT platform. I think that's going to be like how companies actually reach out to more the, the retail market and try to bridge between the traditional system and the cryptocurrency system maybe by by via NFTs.

Very interesting insights. I guess we will see what shakes out. I, I feel something, I feel something in the air. I don't know what it is. Maybe it's just pumptober uptober. Yeah but I, I, I, there's something in the air. I'm very, very excited to see what happens before the end of the year for the overall crypto markets. If you have not liked and subscribed, make sure you do it. We're here. It's Thursdays, 12pm Eastern. Like and subscribe Cointelegraph on YouTube. We appreciate everyone joining today's show and as always feel free to drop questions on Twitter. We're going to be posting during the week. If you want your questions answered, be on the lookout for Cointelegraph's Twitter so that you can get your answers to your questions. We appreciate everybody tuning in today's show. And until next week, over and out.

Sam.