Can Bitcoin rally in December? PlanB model misses? SHIB, LUNA | The Market Report

Sam. Whoa.

Hello friends. I'm your host, Benton and welcome to another episode of the Market Report. We're joined today by Jordan and Marcel. Jordan uses his background in psychology and human behavior to spot the emerging trends in the crypto markets. And Marcel uses his 717 years experience trading options and futures to spot the crypto derivatives markets. What's going on today guys? How are we doing?

All right. You're kind of blurry there, Ben.

Yeah, I've run into some technical difficulties today. So I appreciate everyone that that's tuning in. What's going on this week, how we feel in the markets in general.

Well, Jordan, I don't know about you, but last I checked, Fidelity, which is one of the top five global fund managers with over $4.2 trillion under management, is launching today the physical Bitcoin ETF in Canada.

Okay.

It's not us yet, but it's one of the biggest asset managers in the world diving their hands directly with bitcoin and managing a fund. So for me that's incredible.

Yeah, there's a big developments going on in crypto but you know, there's some bigger developments going on in the larger world that I wish they would just stop happening so they can like let our crypto market rally like we all want it to. But we'll see what happens.

We gotta. Are you there? Action packed show today. Yeah, I can't.

See you. All right, you're blurry but we can hear you. That's good.

Well, I know we got a big show lined up today. We got Garris Solway coming on. We got Marcel's ex news. Talk to you about bitcoin, show you all what's going on. Price act kind of sideways so dive into a couple charts through some articles. If you haven't, go ahead and like and subscribe Cointelegraph on YouTube. And today we're going to be giving away a hundred dollars subscription of market. It's pro. So this is a free month of markets. We want to make sure that you drop your comments and we are going to be giving away a free three month subscription of MITs Pro. Before we jump into our markets news segment, we have a little short clip roundup for what's happening around the universe on crypto Twitter.

Sam, I feel bad for the the plan B guy because he nailed like three months in a row his predictions and the first time he missed it he said 98,000 by November month end and everybody's shouting at him. I don't think that's fair. His model is not like month wise. It works on a longer time frame. So I don't think people should be really picking on him so that much.

But no models are perfect. No model is ever perfect over the long run. And there's lots of bigger events going on in the larger world like we were mentioning that. Just make it so that it ain't always going to go like we want it to go. Agree, agree.

So jumping on the new segment, Danilo, can you share the first one of the bitcoin correction? Hopes on Santa Claus could bring a rally. That's an interesting one. I can show you on my charts if you want but basically we're showing that There was a 15 to 20% pullback in November and now markets are expecting a rally of up to more than 20 by year end. You can share my screen, Danilo, please.

Yeah, I've been saying, I would say for a long time like when it comes to like everybody saying the same thing, it's most likely not going to happen. I think so many people have been saying that we're going to get to 100000 by the end of the year that nope, that's just not how it works. Like when everybody's thinking the same thing and something else is going to happen.

Yeah, but, but the question here Jordan is did the market enter a bear market after falling 20 from all time high? I think that that's, that's a big question here. What's your opinion?

Well, I don't know. The bear markets in the past have been a lot more than 20. 20 is kind of like par for the course of bitcoin. Like when you get like a 50 to 80 pullback, that's a bear market. Yeah. And in the past run ups and stuff, 20 was kind of like some of the, the more long term holders wouldn't, wouldn't wait to really engage in the market till that 20 drop happened because that kind of signaled to them like now this, this rally is really, this cycle is really getting underway. But you know it's always a possibility. And again if events in the larger world continue to, to put pressures on financial markets globally, it could continue to put pressure on the crypto market. But inflation on the other side, there's, there's, there's positives and negatives on both sides of the argument.

So yeah, there's an interesting comment in here which speaks what exactly what you said from 8848, co investor Nikita Rodenia. Despite the obvious setbacks this far, bitcoin. Bitcoin is on track to $70,000 per coin. And I agree maybe we're not going to reach it in December, maybe in February, but we are on the right track. Bitcoin is a scarce asset and Congress is desperate. They just approved another $1.75 trillion budget. So inflation is going to, it's not going to ease in the us. Thank you, Danilo.

Yeah. All the things that are kind of propping up the price of bitcoin just keep getting worse and all the things that make it more valuable, scarcity and stuff continue to be true. So the long term value prospect of it hasn't changed at all. It's just noise in the background and Vince in the world. But we're all kind of hitting the same track as we all been.

I just want to highlight before we jump to the second news with Banton is that on December 8th, the US Senate is holding a hearing on digital financial innovations. But they invited all the CEOs from exchanges and stable coins like SAM from FTX, Coinbase, CEO, Paxos Circle. So we know that they're going to discuss stablecoin regulations and some form. I think market is a little bit scared right now, which is also causing the drop. So back to you, Benton.

Yes. Glad to be back guys. Sorry about that. No, so we were talking about bitcoin. I super excited about what's happening next, especially heading into the end of this year. But I also want to talk some like worst case scenarios and starting out December, kind of in the sub 57k. Is this concerning for Bitcoin's price? Are you all still just as bullish as you were maybe a month, two months ago? Marcel, what do you think?

I'm not as bullish as I was right before the etf, the derivatives ETF approval in United States because I was expecting a heavier inflow by institutional investors. So ETF gathered $2 billion worth in a week, which is a record. But I was expecting much more if you ask me by then. So right now I think investors are too afraid of regulations and uncertainties, especially on stable coins, which might or might not make sense. We're going to discuss that later on in my expert segment. But I'm not that into that optimist right now. For the short term.

Yeah, I'm not. Or I guess I'm still as bullish as I've always been. But I have a different perspective. I'm not like the uber bull, like a hundred thousand dollars. I'm like, yeah, we're gonna steadily go up. I prefer it if the, the market cycles actually Extended a little bit and we kind of had a slower pace up because that kind of puts more support under it and seems less volatile. But I'm still, I still long term bullish, short term, I don't know. Again, that's why I'm always telling people to take some profits because then you get this kind of crap and I got some free money on the sidelines to put into things if I want. Well, most people are like, dang it, I'm poor again. I gotta go work at McDonald's.

Always, always gotta have that extra splash cash on the sidelines just in case we get any dips like we saw, you know, just a week or two ago. Danilo, I don't know if you can pull up the article that's, that's referring to plan B here. The bitcoin fails worst case scenario monthly close. For the first time, I do want to bring up the point like, you know, Plan B's floor model not the same as a stock of flow model is. He has hit the nail on the head three months in a row with his price predictions. Except November. November was the first month where this price floor prediction of 98k did not hit. How closely do you all pay attention to this when there it is, Plan B. You know, speaking about this, you know, is this something that you all kind of look at as like a bellwether for the markets? Do you take this into account at all? Marcel, what are your thoughts about Plan B? Kind of missing the mark here.

Yeah, we kind of covered that earlier. But speaking in a broader sense of any models use that uses on chain analysis specifically, as Jordan said, the market is in cryptocurrency especially it changed a lot. So when new investors such as Tesla or sort as MicroStrategy comes in and hoards $2 billion worth of Bitcoin, it changed the game entirely because there are like 900 bitcoins issued every day. And if one of these guys buy 120,000 just like MicroStrategy did in less than a year, it changed the history, it changed the course of bitcoin and that's going to continue to happen forward and surprises. So I don't think a model that looks for the past 10 years is going to predict what the price is going to be in one year. I don't think so.

That's a good point. I mean, Jordan, what are your thoughts around what happens once countries like El Salvador start to wake up and start to pile in to bitcoin like Microsoft? We've seen, you know, this happen with smaller countries. But what happens once bigger countries start doing that and start monopolizing their holdings in bitcoin? Is that a concern at all?

I don't think it's a current. I think that that'll be like the real, like, onboarding of mass adoption. But that, that, to me, that, that's not going to be that great of a world. We're all crypto people. Like, yeah, what's going to be the. Why would that happen in the world? It's because the US Dollar is tanking and like the world's going to. That's why. So, like, these things that we are actually looking for, it's not going to be this beautiful transition, folks. It's going to be kind of rough and rough and tumble. It's gonna, we're gonna be turning it out all right in the end. But yeah, I don't think, like, they're not gonna. Most countries are still trying to stay on the good side of the US and that's why a lot of crypto projects are trying to be able to qualify for like passing securities laws and stuff in the US Because U. S is still the big dog in the world as far as financial markets and security. So I, I think it's going to be a while before those big larger companies actually make that move and say, you know what, Us, we ain't taking your dollar anymore. We're going to use bitcoin because that's like, that's throwing down the gauntlet for like the game of risk and world war kinds of things. So.

But wait, it's a different thing like from Amazon saying, okay, guys, if you want to pay in cryptos, I'll accept cryptos. I'll pay the vendor in cryptos and not going to convert it automatically. So you can buy and trade stuff using cryptos or Amazon, for example, saying, Well, I have $100 billion sitting on my reserves. I'm going to use $10 billion to buy Bitcoin. It doesn't really tell the U.S. screw you. I don't trust the dollar. It's something that is going to happen. I don't know if it's in six months or six years, but the trend shows us that even Amazon on Facebook and the big companies use bitcoin as a reserve and accept Bitcoin, Ethereum and altcoins as a means of payment.

If countries start trading bitcoin for oil, that's when we like, oh, we've entered a new paradigm. That's when it really switches over.

So I do want to bring up one last topic here while we're on this subject is how big of an impact did Omicron Coronavirus announcement, the first couple cases starting in South Africa, how big of an impact did that have on the markets, if at all? Marcel, what is your take on that?

I think every time investors are getting more savvy. So the first time that for example, March 2020 when the global markets dropped and Bitcoin crashed down to sub $4,000, it took us months to recover. Then the next variant or the next bad news, it took a couple of weeks and this time around it took less than two days to recover from the drop from 59,000 to 50, 54, 000 and now back to 58. So I think investors are getting more savvy and they understand that those variants or whatever governments are trying to do does not change the the dynamics of Bitcoin and Ethereum.

Yeah, I agree with Marcel. Like if you look at this timeline and how back. Go back to what was it, March of 2020, when the whole world's markets, just when they like, Kobe's bad. And then it happened again. This time it was like, covet's bad. And then two days later the market was back up like, no, Kobe's not that bad. All right, So I think it's again, this is the propaganda, this is the media. This is how they control certain messages. They can control a whole lot. That's the. They can't really ban cryptos or do any of that stuff, so they control it via news headlines. If people haven't kind of wised up to that fact, they can totally sway 70 of the population away from cryptos for even just another year by through the news. And that's just, that's what's going on with me. And. But again, I use a lot of these opportunities to buy the dip.

So yeah, we've seen this happen before. We saw it originally with, with Coronavirus. Like Marcel was saying, steep drop, then delta variant and now Omicron. It's like, I think we've been there, we've seen that we got a T shirt. And if you're smart and you kind of notice the previous trends, like I would think that's a buying opportunity. So that's my take on the whole Omicron thing. The last.

Yeah, do you have that T shirt? Are you selling?

I got that T shirt. It's like, hey, I saw the Coronavirus dip three times and I bought the dip three times. Yeah. But the hottest topic recently in crypto though has Been the Metaverse. And I know we have an article we're going to dive into today. Is this something that you all are considering? Like, how valuable is this real estate inside of the Metaverse market? Jordan, I know you like to kind of Dabble with the NFTs and metaverse sometimes, but like, what are your takes? There was $106 million worth of Metaverse just sold last week. And Danil, if you wouldn't mind pulling up the article while we chat about this. Jordan, what say you?

I think every, especially since Facebook did the whole meta switch over, like the Metaverse is coming into, coming into the consciousness of the, the society, but this people need to realize this is still going to take years, years for this all to develop. I mean, there's not even that many users on Decentraland. I know, I think I've seen Marcel rant about that several times. But like, like what's actually in the. It's.

We're.

It's. It's like trying to go out and establish land plots early in the United States history, like here's your acre, go out and survive kind of a thing. There ain't much on there. You're going to kind of be wandering around these digital landscapes for, by yourself for a while. But yeah, in a few years it's gonna be kind of ready player one level, maybe 10 years, but ain't right now. So there's a lot of hoopla around and now most of these prices will probably crash when we hit an exper market, which is when I might actually start looking into getting them. So I know that it's a lot of hype right now, but there's not a lot of substance in there for people to actually stay engaged yet. So it's just hype at this point.

Yeah, if you, if you go back to 2000, I remember clearly when Yotta, an altcoin which doesn't even use blockchain, announced a series of partnerships with Porsche, with BMW, with Microsoft and whatever. And people were fumbling into the, into the the coin without even know if it was feasible. What, what the Internet of things would benefit from cryptos effectively. What projects were already in place, but it was just a bunch of announcements. And recently I saw in the Metaverse Adidas saying that you guys gonna partner with blah blah and whatever. So as Jordan said, okay, you can have a virtual stand, you can have your virtual shoes that can sell for thousands of dollars for collectors. But in the fact, how many users are using those Metaverse, how many users right now are demanding Those services, it's tiny, yeah, might grow to a million in two years. But right now for the next six months, I, I can't see growth for that. It's just, just hype.

I, I would agree with all points. I, with the exception is, is I think what's happening inside of that marketplace in particular and the Metaverse is they're trying to transition the traditional Gamers on the PCs, on the Xboxes, on the PS5 and get them into a blockchain gaming ecosystem first. Because the transition to the Metaverse is going to be that much easier. So from like a markets perspective, I think there is a lot of potential in the Metaverse. It's going to unfold very slowly and it's going to be a slow build and there's definitely, if we get hit with the overall bear market, I think it could have impacts inside the Metaverse space as well. So very, very kind of fascinating stuff right now.

If that's what they're trying to do, they better not do it on Ethereum because the gamers are going to be like what the heck is this slow ass crap, man? What was, I can't even remember what was before. Like the Atari then was like a something 60, not Nintendo 64. There was an old, it's like old gaming. It's like James Sega. Yeah, before that there was one, I can't even remember. That's how long ago.

Atari, Shaguara, the 128bit, I was the only buyer of that crap in the world. I'm gonna have to defend Ethereum a little bit over here because there are already layer two solutions in place. So yeah, you pay a hefty fee for your first acquisition, for your first transaction. But then the game happens on layer two. There's Avalanche, there's a bunch of those. There two solutions right now. So yeah, it's not ideal, but it works.

Exactly. Fascinating market news this week. A lot of stuff happening. Hopefully in the next 30, 60 days, before the end of the year, we'll see Bitcoin is trending sideways, kind of consolidating what will be the next move. Leave your comments in the chat. We want to hear. Do you think bitcoin is going to be above 60k by the end of December? Type it in the chat, let us know. And we know Marcel's fan club is definitely in attendance today. So make sure you're chiming in. Don't forget we're giving away one month of Markets Pro. Those people that are leaving, good questions chiming in, giving us the Great answers. We're going to select one person today and that could be you. So make sure you're doing that. You're leaving the messages in the chat. If you're interested. 20% off description below. Make sure you are chatting up in the chat room today. We'd love to see it. So let's go ahead and get in with Garris Soloway today. Super excited to chat with him again. I know he was walking us through a lot of charts so today hopefully he'll be able to do the same.

Oh, he's not here.

He hasn't. He's not here today. Do we want. Oh man. Are all right.

I got a special segment set up just for this special or this occasion because Gareth is here. So we're gonna.

Let's do it then.

Jordan. I don't know if there's got an intro. Do we got an intro D or we're just going to jump right into this? I think we could just jump right. This is like the old school. We got two expert takes in this one. All right. Yeah. So this is kind of more impromptu, but when I was just mentioning like it ain't going to happen on Ethereum. One network that hasn't really gotten much play lately that I think is actually one of the more solid networks out there is Cosmos. And I think that as the. As the whole ecosystem grows because the whole Cosmos ecochain similar to Polkadot how they wanted to make an interoperability kind of feature for Ethereum. Cosmos has the IBC chain which is inner blockchain communication. So their whole gig was to try and make it so that a bunch of different chains can, can kind of all specialize in what they want but connect together. If you could share my screen, Danielle, I just want to show this article that we had on Cointelegraph a little while ago. As you can see here, we'll see about 200 chains connected through Cosmos IBC next year, says Tenderman ICE CEO Peng Chong. So yeah, there's. There's already quite a few different well known projects on Cosmos, the Cosmos itself. And then there's projects like Persistence, which is one that I'm big on. You got the secret network which used to be on Ethereum, which used to be called Enigma but has transferred over to Cosmos and there's other ones, iris Net but I just think that because like we've seen Phantom blow off because of their ability to, to communicate with Ethereum and, and offer higher throughput and lower transaction fees. We've seen Polka Dot and Kusama get a lot of attention because of their parachain auctions. We've seen Avalanche take off because. And all these. I've also done these big like 100 million dollar development funds and stuff like that. But the one, the one ecosystem that hasn't really taken off yet is Cosmos. So I just kind of want to put it out. You can stop sharing my screen there Daniel. I want to put it out on everybody's radar just to kind of keep an eye on and yeah, what do you guys think about the interoperability feature of cryptocurrency?

What is that? Yeah, that was. I was going to question you that. I see two concerns here. First of all I hear that like there's like 10 interoperability blockchains or products being laid out as you said Cosmos, Polka Dot, there are quite a few of them. So how do they differentiate? And if Ethereum 2.0 SU successfully launches over the course of the next six months or whatever, will that be even necessary in the future?

Will it be. Is it going to successfully launch? Those are ifs. Like again this is a. Cardano was getting smart contracts for years. They've been talking about the scalability of, of Ethereum for years as well and that I don't know how, how good that's going to be. Is it, is it going to be what we're all expecting to be when they switch over to E 2.0 and proof of stake? Is it going to be a fat. Is it going to compete with a phantom or these other proof of state networks that are like. If you want to get like. One of my more like internal thoughts about this was even with Bitcoin and Ethereum we're having all these different protocols having to be built on top of them to facilitate how they operate. Ethereum needs a layer two solution to do this. Bitcoin needs stacks or something like this to bring smart contracts on top of Bitcoin. It doesn't seem to me that in the future the one the world chosen blockchain will need multiple layers like that just to function. It will be a simple one layer, one blockchain capable of processing all that I don't like. One of the like one program project I actually like is Algorand because of how it has. It's a lot of it's capable of doing it on its layer one interface. I have. It hasn't been tested in the same throughput as Ethereum has but I'd be curious to see what happens with that because it's pure proof of stake and stuff. But I don't think that we're, it's going to have to take layers of scaffolding just to make it so that transactions aren't really expensive for the world chosen blockchain. I don't know. Oh, we can't hear you, man.

I was gonna say I'm gonna jump in here because I have been absolutely dabbling with so many blockchains recently and I think what's gonna happen is you're gonna start to see this spiderweb of bridges from chain to chain to chain happen. And we've seen it happen with the evolution of Polygon, with bsc, with eth and it's just gonna become this giant interconnected highway system. And maybe the Cosmos is of the world and are going to kind of be the on ramp for a lot of folks. But I think like each chain offers its own kind of incentives and it has its own features and it's very tribal. People like if you're on Avalanche, you love Avalanche, but it doesn't mean you can also not like Kronos and Harmony or some of these other chains. So I think it's going to be a giant spider web of chains that all kind of interconnect through these bridges.

I'd like to see what our users think about their favorite change. Do they like to transact on ethereum and pay 50 bucks per transaction or have they kind of ventured away from that or are they just like, we're not doing anything because we're too scared to go to the other networks but we don't want to pay?

Exactly. Tell us your favorite chains. Where are you staking? Where are you doing your defi. Tell us where you're doing all that stuff in the chat here.

That's the other thing about Cosmos. I'm going to get back to Cosmos like the Kepler Wallet. Keplr, you can easily stake most Cosmos based coins through the Kepler Wallet. Really simply like every coin on the network is stakeable pretty much. And they've also put in other fail safes. Like if when you unstake it does take 21 days, that might turn some people off. But as far as tokenomics and the helping to maintain a stable token value, that's, that's a benefit in my, my position, my opinion. I don't know, there's just lots of things with the Cosmos ecosystem I think are underrated. And I said one of the traders I watched on my telegram, I'm like, man, this guy's like, I've been in Cosmos for so Long and the market tank. He's like, dang it, I'm underwater, but I'm still holding on. He's like, oh, I'm holding strong because I think Cosmos is a really legit ecosystem and I. It hasn't gotten the attention that other ones have, but I think it will in the future. Yeah, like let's pull Elrond billion dollar investment thing. So yeah.

See what we're working with here. I'm gonna throw down some vlaps. Let's get some live charting. I mean this is on the four. Let's zoom out, let's see what we got. Let's check a daily. I mean, look at this s this SMA here. It seems to be kind of like going in the uptrend when you zoom out, little consolidation.

What was the top for that?

This looks like the top was at 45. Yeah, about 45.

Huh? I don't know.

I remember confidence after dropping from 45 to 25.

I think if it's sitting in these channels here, I mean you could see a bounce off this lower vwap and it kind of fluctuates in between this wedge. But I mean you can see in this wedge here, it looks like it's in an uptrend.

Well, this is, this is also the game here. Like the, the. We were mentioning this before the show, Benton how like we've had really good projects and then they weren't doing anything so we sold them and then they shot up and we were like went into something that didn't like. I know. Marcel, you're like, you still confident this? I'm like, it's got good tech, long term fundamentals are good. Like there's a lot of. There's a lot of dicey stuff going on in the markets right now. But in my opinion, in my experience, the best long term approach is to find solid projects with good backing, hold them long term, and try not to pay attention to the price movements in the short term because the crypto market's got a lot of stuff going on, lots of news and all that stuff. But solid projects are going to be the survivors. Which one's going to be around in five years. I'm pretty sure Cosmos still will be.

Our. Our viewers disagree with you. You're saying Lawson White Polygon right? Fish. I see phantom teles. I don't hear anyone or even friends I usually talk to talking about Cosmos. Exactly.

How did, how did I start the segment, Marcel? I said I'm gonna. One that didn't underappreciated Adobe's of course people are talking about Polygon. It's almost trying to run to a new all time high. Phantom's gone from like cents to dollars this year of course. But I'm just saying Cosmos has got a lot of go a lot of stuff going for it. A lot of good fundamentals projects are migrating over to the network crypto.com. crypto.com. They just signed with the staples. Yeah, they're migrating the Cosmos too. Yeah, all these things.

So like what doesn't crypto dot com. Didn't they have a hand in like launching Kronos though there? It's like their own blockchain.

Yeah, but they're still going over to crypto.org they're turning into crypto.org and they're migrating to Cosmos. Yeah, they launched their own chain but they're migrating to Cosmos. What does that tell you?

It's been around for forever and so like I mean there's something there with, with Cosmos.

Yeah, I just wanted to bring attention again, that's not investment advice. I'm not saying it's going to go to the moon. I'm just saying it's a project that I like personally that I think has really good fundamentals. There's going to be a lot of other protocols that become launching inside of its ecosystem and just want to keep an eye on. But I also like I Lost in White. Yeah, awesome. I'd like Seasons. I like Tezos. They're trying to do the NFT thing. We'll see how that works out for them. And I like Polygon as, as a layer two solution for Ethereum. Polygon is my choice.

I, I would disagree, Jordan. I, I don't know Cosmos that well but I'll pick the, the, the three or four that have been training over the past month not in terms of price but Twitter activity and etc. You can use CT Pro for that. Benton's gonna talk about the product in a few but I like the ones that are get getting more activity from the general public.

Why did they get activity from the general public though? What's the one thing all these projects have done in the last like three months market Cosmos didn't do. They launched like million dollar development liquidity funds things to do to draw liquidity to them. They've incentivized people having activity on them. Phantom did like I can't even remember. I was so like 300 million Phantom or something like they've all had to like bribe people to go into them. So Cosmos hasn't gotten the Play because they haven't done that. But I just think, but they're, they're solidly building in the background. That's just my opinion. I'm not saying you're wrong, but.

Oh guys, I'm gonna switch back to my phone.

So if you, I think that's the layer two foundations and Ethereum competitors right now are in a huge opportunity. The price, of course the price is going up because as you said Ethereum fees that is at 50 and no one wanna transact on that. And we have NFTs, we have metaverse. It's not just defy. If you are moving like a million dollars on the 5 or $200,000 on the 5, you don't care about paying 50 fees. You want the best API, you want the best liquidity. But if you're just trading NFT cards, if you're just playing some Metaverse game, you want speed, you want cheap transactions. So yeah, virtual solutions still have room to go up and I wanted to.

Get your opinion on some more. So what do you think like with, do you think that all these other program platforms, NFT projects and stuff launching are kind of hindering the ability for Bitcoin to really do those big moves like everybody's expecting. Like maybe if they didn't have so much other opportunities out there, a lot of that money would have actually gone into Bitcoin and we would have been to a hundred thousand by now.

Well, they compete directly. I think gaming market is something the Metaverse especially for corporations and for advertising and other stuff and Bitcoin doesn't compete with that directly. As for the Defi segment, yeah Bitcoin and Defy have a lot of interrelationship but it's already possible to wrap your Bitcoin up or binance chain and use those and defy. So if there's demand for it, Bitcoin are going to be used for that.

Okay, yeah, I, I, I'm, I think we're headed into a multi chain future obviously. I know saying martyr over here doesn't, doesn't quite agree with us. He's saying that all the, the S coins are going away but I don't, that's not, that's not how human population works. Again, I'm the psychology guy. There ain't never gonna be one thing for all humans. We don't, we don't function that way. I personally, I know myself when a whole bunch of other people start doing. Even if it's something I like, if everybody else starts doing it, I'm like You know what? I'm gonna stop doing that. I'm gonna do the opposite. Just. Just like it's my own personality kind of a thing. So, like, I, I don't think all the coins are going to go away, and I don't think that bitcoin is going to be the, the one, the. The one to rule them all forever. But it's gonna, it's an interesting journey that we are traveling along here on the crypto road. And it's. I'm. I'm happy to be doing it with all of you.

That's right. Did you guys already do Markets Pro?

No, we're gonna head to Market Pro right now. Send it.

Let's do it, guys.

All right. For those who aren't familiar with Markets Pro, we're going to familiarize you with it today. It's got some awesome features. The first one we're going to dive into today is the Newsquake feature. If you haven't seen this, what it does is it gives you automated alerts that instantly notify you, and it's about market moving events. So for example, today we're going to show you. Danilo, if you wouldn't mind pulling up the chart for Shiba Inu. This one absolutely ripped. And for those of them sheep we've talked about she before, it's been down. And then all of a sudden you caught a newsquake because guess what? Kraken listed it. And that's the power of having Markets Pro in your pocket. You get these alerts and just boom, you can act on a quick. That bottom circle there on the bottom, that is a news quick. And look at that red line. It was up big time. And so that's what happens. It went from 4 zeros, 3, 9 at the time, all the way up to 4, 0, 5 4. So that's within 20 hours. That's about a 38% increase.

So that's a.

That's the Markets Pro Newsquake feature. And so when it comes to the next feature of Markets Pro, it's going to be the Vortex score. And we have, we're going to highlight Luna, which had an awesome Vortex score. And this one actually did a little double run. So a coins Vortex score, if you aren't familiar with it, it's a comparison between the current market and social conditions and those in the past. And so a high score means that judging from historical data, the assets current outlook is bullish for the next 12 to 72 hours. So Luna had been an upward price trajectory. You see here on that chart had the first little run up for much of the week and then I had a second streak and the vortex were actually anticipated that second leg up. So you can kind of see where that vortex score peaked for the second time. And then we had a second leg up with that pricing there on the, on this, the white line. So November 25th the vortex score reach 83. It shot from 40 to 53 and then fell back to $38. Yet things were still looking bullish. And then on November 29th it breached $50 once it reached that 83 vortex score. So you can see it's a little bellwether. You like to have that in your pocket. I just love to go through these charts and dissect, you know. Luna Shiba Inu Sure. Those are tokens that a lot of folks are in. So you want to be able to kind of monitor those things and have that power in your pockets. Why we're giving away a one month subscription today. For those that are chiming in the chat, we want to hear have you had a great experience with Markets Pro? Why don't you leave your comments in the chat today? So yeah, that's going to be our Markets Pro segment, our coin watch for this week. I know Marcel's got some awesome stuff to talk about today regarding some stable coins and possible regulations that you're going to want to stay tuned for. So let's jump into Marcel's expert segment.

Okay guys, so as I previously said, you're gonna have this hearing on us on December 8th which will invite the CEO of the exchanges and stablecoin issuers. Multiple subjects will be discussed but of course regulations as at the center of discussion between the U.S. house and U.S. senate. There over 20 bills being analyzed right now to regulate the sector in U. S It's a complete mess. It's not just the United States. In Brazil we have like five bills coming out together. So different views and different ideas for that. But what I think that is pressuring the market right now is the ETF rejection but not the FTF ETF rejection, the fiscal ETF rejection per se. But the reason that the SEC gave to denied they said market manipulation and fraud or I don't know wrong doings on stablecoins especially on tether. So it, it gave a name to the stable coin that they want to grasp, regulate and both the, the Janet Yellen and the Federal Reserve Chair Jerome Powell also expressed their concerns with and and urge the Congress to create a regulatory framework. So that's what's waiting on the market right now.

So it seems like a lot of people talk about like regulating bitcoin, but it seems like regulators actually are more concerned about stable coins and that's where their focus is kind of going with that. Is that kind of true?

Yeah, I, I think so, Jordan. I think after China tried to ban bitcoin and failed. Miserable, miserable over six times already. Jordan, I want to share my screen, please. So we're going to show, we're going to show a chart with a open interest on futures contracts, all coins, not just bitcoin. So yeah, there was a huge drop on May and June when China started to expel the miners and close the P2P transaction. So it went down to $20 billion worth of futures contracts in crypto. So yeah, there was a great impact short term, but like, like six months later we're back to $48 billion. So it's double before or at the crash caused by the, the Chinese actors and the Chinese regulators. So I don't think that the, I think that you have. Thank you, Danilo. I think that the US government understood that they cannot regulate Bitcoin. Even Hillary Clinton, the former presidential candidate was saying out loud that in her view bitcoin poses a risk to the US Dollar stability on Germany. So I think, yeah, regulators are going to focus on stablecoins because it's easier and the companies and the issuers are mainly in the United States. So we have Paxos, you have USD circle. So true as $. So it's easier for them to go to the, to the stable coins.

What kind of effect do you think that will have on the market when they kind of introduce those kind of regulations with stable coins?

That's, that's the big question. A lot of people were afraid of the huge meltdown on the decentralized finance, the D5 sector. Because in the past the DAI stablecoin, which is supposedly decentralized, was 60% backed by USD coin, which is centralized issued by Circle, which has Coinbase as one of the backers. So yeah, regulation, strong regulation in the stablecoin sector in the past would be very harmful for Defi. But the DAI Stable Coin changed over the course of the past four or five months. It's backing and it's now mostly backed by bitcoin and Ethereum, only 13 by USD coin. So worst case scenario, okay, so stablecoin issues cannot operate in the United States anymore. Those companies, those issues can do the same thing that that did, just move out, just sell out to a shell company or create another company. Abroad and continue to operate. They don't need to hold the physical dollars in bank accounts. They can use any assets or any government bills or any yield providing opportunity in dollars. So they won't be illegal in that sense. So I don't think there's a great risk here. But surely the sellers, the guys who wants to make market drop will always pick up those headlines and say wow, government's going to try to regulate stablecoin. So it's the end for bitcoin and cryptos. It's the end for Defi. But it's not like that.

So I guess my question Marcel, is there a stable coin that is safe from regulation? Is there a single one of them?

In theory the DAI is one of those because they, they close the company and decentralize the protocol using the the maker as the, the token for governance proposals. So there's no longer a single company that needs backing maker or that it's responsible for dai. But there are other options out there. Maybe Jordan knows some of them but I don't think they can handle the $150 billion worth that's currently sitting on Tetra Pexels. True as $ USD coin. I don't think they are ready for that yet. What do you think Jordan?

I think we're headed to a new paradigm like completely different. Like they can't look they used to have control of the money system because they controlled Swift. They don't control Ethereum network, they don't control the bitcoin, they don't control any blockchain network. So anything that they say is like a paper tiger. They can't do anything. They like vpn. What? Where am I at? You don't know. They, they can't do anything. They rely again on propaganda and news headlines to make sure people, they, they mind screw people to not use cryptos because otherwise people like man screw that money. Again they don't have Swift so they can't, they can regulate it and people can be like that's nice, I'm going to use a VPN and then it's just disappeared. So yeah.

So I to dovetail into that point though Jordan. It's like what starts to happen when these, these stablecoins or other like coins are no longer tied or pegged to the dollar. It then becomes pegged to a different asset class.

Okay, hold on. I've made videos about this. Like this is a fun game we're playing right now because we all gonna have to decide what one is. This is, this is a tricky proposition. We all as a global society we want to trade and transact things, right? But we all, we've all just grown up with the US dollar as the one. How are we going to establish a new one? I think like person, this is my, I had this thought like a year ago. I'm like man, they're just going to keep releasing stable coins. They're going to kind of confuse it. It's not the US dollar, they're going to give them different names. So eventually everybody's just so confused. We're like ah, they're all one. And we're going to kind of move away from the US dollar being that one but it's going to be like this crypto one because what, where does that come. This is, this is like a new, a new thing for all of us alive right now. We've never been in a situation where they're trying to create a world currency as a one stable thing. So it's a, it's an interesting thing to watch evolve.

The, the Euro was an experiment. It gathered I don't know, 20 countries in Europe using the same currency. It's an experiment that dates, I don't know, 20, 22 years ago. And bit Bitcoin is like 12 years old so it's not much older than bitcoin and it's not working. The Euro has lost I don't know, 70% of its value over the course of the those 20 years. So a failed experiment. I don't think it's going to work.

Yeah, well, let's find out. I would love to see what that would look like. Is maybe not having a US dollar reserve currency. I guess the future will tell us. For those watching, chime in, let us know your thoughts. What else could the world decide to have that one currency be? Is it going to be Bitcoin? Let us know if you have any other questions for us. Pop it in the chat. While we're kind of waiting for folks to answer or ask questions here, do you all want to go ahead and pick our winner for the markets Pro one month subscription today. I can't pull up the chat here on my phone but I just wanna.

I just wanna answer a question from Not Corgi. He said sure usdc. So USD coin seems safe because US regulators like them. No, US regulators don't like any of the stable coins. Jeremy, he's a nice guy and stuff but no, the used US dollar wants complete control. They want to you issue their own CBDC and they want to make the stable coins useless because in Their mind once they have a crypto version of the dollar or digital asset version of the dollar, there will be no longer need for stable coins. But we know that's not true.

That's a great point. That's a great point because yeah, you look at what China is doing with their CBDC and it's like they're trying to control and manipulate their, their money supply and all that kind of stuff. And so it's like with the U.S. will the U.S. create a CBDC? I don't know. I, I'd rather use decentralized stable coins. That's just my two cents.

Well, I think with the usdc, like, think if I think about like the, the overarching models calm, like China is a communist socialist country. US has been more private focused. Like what if they're kind of allowing the private sector to start the u. The, the stable coin for the the U.S. like, I, I think USDC might have one of the biggest chances of becoming a stable coin for the US Just because it's like the private sector, it's already out there. US has been lagging behind on the whole digital currency thing. So like, to catch up with it, they might adopt more of a private route just because it's, you know, capitalist nature and all that stuff. I don't know. That's just one thought that I've had about it.

Do we have any other questions that came in? Go ahead, Marcel.

No, I have a, a user comment on YouTube that was a great insight from Don Patrick has said balanced views, like we have an extended BTC market run as futures, ETF battles and spot and more large whales and countries accumulate. So market structure is different. So Yeah, I agree 100 with Don. Pat Patrick, I think that the market structure in 2021 is different from 1819, mostly because maybe big companies or even countries such as El Salvador are accumulating. So I vote for Don Patrick's comments.

Did Don, Big Don just win? Did Don just take home the one month subscription?

I think so.

What do you think?

Sounds good to me if he's still here. All right. And here. Yeah.

Don Patrick, go ahead and pop in your Twitter handle in the chat. We're gonna reach out from you from Coin Telegraph's Twitter. We're gonna slide in the DMS and we're gonna give you that one month subscription to market to pro. And we appreciate you leaving your insights. That's as simple as it gets, folks. If you're watching that's, you know, you can get markets Pro subscriptions just like that. Just for watching and leaving an awesome comment like that. For those of the rest of you that tuned in today, we appreciate it and we hope to see you back next week. Guys, closing thoughts here.

Go ahead. I just wanted to. Just tying back, I want to point out this one UST from Luna is a rising stable coin. And also am I magic Internet money from Abracadabra. If you're looking for more decentralized stable coins, check those ones out.

So, yeah, so Luna USD from Luna.

USD from Luna and Mim Magic Internet money. M I. Oh, mem.

Yeah, from.

Okay.

If you want more decentralized stable coins, check those out.

Okay, now aren't those algorithmic stable coins? The different question, different show, Marcel.

Yeah, Luna Terra project is decentralized. Those magic Internet. I never heard of them.

Mems.

Marcel, any closing statement would just be like, it's red out there. Long term. Long term trajectory is still up. Crypto's long term, nothing's changed for me again, dollar cost averaging, taking profits when your coin goes up 5, 10x. Like, gee, please take some profits, man.

I'm gonna go with the other way around. If you bought some metaverse coin or whatever solely based on some influencer or, I don't know, some post on Reddit or social comment that you thought it was magical or the next coin and it's down like 30 to 40%, just get out of the position and go to either Bitcoin or ethereum or mixed positions. But go to a safer coin because if the market rallies and you're stuck with a coin that's dead, you're gonna regret a lot.

Great point, great point. Ah, that gives me. That gives me some insights. I. I was. I'm on the fence about a few things right now. Down a few positions. So, Marcel, I think I'm gonna take your guidance on this one. Not financial advice, but this has been an awesome show. No one went broke taking profits. Make sure you keep your head on a swivel out there, folks. We love having you here. We appreciate everyone chiming in, giving us your thoughts, your insights, your comments, your questions. Make sure you're tuning in next week. We love you all. This has been the market report. Until next time. Thank you, guys.

Ra.