Has Bitcoin solidified support at $58K? Metaverse boom! | The Market Report w/ Michaël van de Poppe

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Hello friends, hello world. And happy Thanksgiving to those of you joining us from the States today. And happy Thursday for those of you joining us from around the globe. This is the Market Report and I am your host Benton. We are joined by our resident experts Jordan Finiseth and Marcel Pegman. For those who don't know Jordan, he uses his background in psychology and human behavior to spot emerging trends in the crypto markets. Marcel Pegman applies his 17 years of experience trading derivatives options and futures to the crypto derivatives market. What is up fellas? How we doing? Another great week to be live. Another great week for crypto. What's going on?

Well, Bentham, I would say that bitcoin and cryptos are exciting and there's always something coming up. But when there's two or three weeks of lateralization, like from 58 to 62,000, it becomes more stressful because you know something big is coming. So I want us to get out of this range as soon as possible. Doesn't matter which way.

If you want to get out of those ranges, try some of these like Metaverse tokens or gaming tokens. Don't just sit in bitcoin because it ain't just about bitcoin anymore. We'll get into that later though. We'll see.

Yeah, we got a great show lined up today. We diving into a lot of good stuff. We're going to bring you some market news. We got a short clip to give you some of the best nuggets of this week around crypto Twitter. We're going to be having market news that you don't want to miss. You can't get this news anywhere else. We're going to bring it to you live today. We're going to also doing a giveaway. So for those of you joining and watching live today, make sure you're leaving some comments. We're going to be picking a one person to win a one month free trial of Markets Pro, our premier trading platform. Don't be a markets Joe, be a Markets Pro. Comment in the comments section today. We thank all of you for joining us from around the globe. Tell us where you are tuning in from. Don't forget we got our special guest today, Michael Van Pop. He's going to run us through some charts if you want to learn some TA and see what's going on with the markets and get those insights you can't get anywhere else. Make sure you tune in for Michael Vandpop interview today. That's gonna be coming in hot and then we're gonna be Talking about our Markets Pro coin watch this week, some of the biggest movers that we saw and some of these coins you may be able to get into. So make sure you are watching the Markets Pro segment followed up by Jordan's expert takes. He's going to be diving into some Metaverse topics today, which is the hottest topic in crypto at the moment. Don't forget there is a link below. If you haven't liked and subscribed, go ahead and do that. Turn on the notification bell. So you know when we're on every Thursday and you know when we're pushing out that fresh hot content you can't get anywhere else on the crypto Internet. And by the way, if you want 20% off Markets Pro, check out our description. You can get a 20% off markets pro. It's one of the greatest trading platforms you could ever have. So before we jump into the show, we have a quick segment to give you a little roundup of what's been happening out on the Twitterverse To Danilo, if you want to go ahead and run it back. Let's do it.

Sa.

Wow, that was absolutely pure hype. I shout out to Danilo, our guy made it. That was an awesome video. Just absolute pure hype. If that doesn't get you excited about running through a brick wall, I don't know what does. I mean, that was just awesome. Let's, let's go ahead and get into some markets news. I see folks are tuning in. Greetings from Hobby. Welcome, welcome. On the market report today, awesome cheers from Brazil, Bondia. For those joining us from Brazil or Portugal today, we're going to be getting into some bitcoin price levels that we've been, we're kind of talking about. We've been, Marcel mentioned it. We've been at 58k here for the last kind of like weekish. We're kind of ranging right now. So my biggest question to you all is what is the support levels that, that are most important right now and regardless of whether we go up or down, what are you kind of both looking at, Marcel, when it comes to bitcoin, what does that look like for you?

Well, I'm not so much of a TA expert, but we have Michael on later today. But what I like to see in the market is holders accumulating. It doesn't matter. It went down 15% from the top as long as bitcoins and Ethereums are being withdrawn from exchanges by having less coins available for short term trading whenever there's new buyers coming in they are getting new ones every day if there's less coins involved. So when the price move moves up, the movement is even stronger. So we've, we've seen that over the past two or three weeks. But holders are accumulating Bitcoin and Ethereum so the market structure looks good for me.

Jordan, what are you kind of looking at right now when it comes to Bitcoin?

Like an analyst that I do follow, he's been kind of warning that we might see a trip down the lower 50k range for a while now, which has happened. Pull back and he even, he cautioned that we could go as low as potentially like 52 to 54 in the worst case scenario. But again we've kind of popped back up from there and to me again we're, we're as Marcel opened up in opined, like we're in a, we're in a like a sideways trading action pattern. So we're just gonna, we're gonna, we might continue to like oscillate between these highs and lows. If we don't. As long as we don't see a drop below that 52k, we should be all right in the long term. But yeah, I think this is just a consolidation before we do get some blow off top here in the next six months at any investment advice. But that's what we're all hoping for. We've been waiting since like 2017 for this, huh?

Exactly. And I, I know I'm super bullish on this. I'm gonna pull up a article real quick from, from Coin Telegraph. So this is an article that was published this week by William Suberg. He's pretty much saying that.

Wrong. Scre.

Oh, my bad. We got some tech. Tech difficulties. Screen share. I was gonna pull up an article but we'll have to, we'll have to get into that later. My biggest thing I want to touch on though for, for Bitcoin this week is where we could head to next. Are you, are you thinking we're going to see this parabolic rise before the end of the year? Jordan, what do you think?

Before the end of the year? It's possible. Anything is possible. But some people, like I, some people are calling for 100k by the end of the year. Like that ain't gonna happen, guys. Like that's too big of a blow off top enough people have been waiting for a good run up in December. There's a good chance if that starts getting going well the FOMO traders will just hop in.

But even the plan B guy is bailing out. He's saying that the, the 98, 000 that he said for November was not a statue flow model. It was the, I don't know, bottom cap model. So even if it doesn't go to 98, 000, the stock to flow is still validated. So I don't buy this horseshit. So either we're getting on a bet that individuals understand that inflation is not going to stop because government is going to continue printing money so they shift to cryptocurrencies, or you're going to have to wait another three or four years.

Yeah, my biggest thing is I think we're going to consolidate down to, to 53 levels potentially here. I'm going to try to pull up another chart. And my biggest thing is that when it comes to bitcoin is that we're going to see something parabolic and it's going to surprise us all when it does happen. I think we've seen that in some of the previous cycles. And, and again, Tech Dev is a guy that I like to follow on, on Twitter. He has awesome examples of running fractals for 2013, 2017. History doesn't repeat itself, but it often does rhyme. And so I don't know if I can get this screen going for us, but we'll figure that out next. The other quick topic I wanted to jump on here while we're on the subject of bitcoin is I don't know if you all saw the Hillary Clinton video this week about her talking about bitcoin could potentially destroy the reserve currency status of USD. It's like, I'm curious to hear your thoughts on that. Marcel, you're smiling. What, what do you, what is your take on what Hillary had to say about.

It's really hard to, to read those politicians because they always have a double angle on stuff. But let's assume she's speaking the truth. Yeah, United States should be worried about that. What can they do? The only thing they can do is buy bitcoin and they're not going to do that because that's going to destroy the value of the dollar. So they just have to, to, to, to make, takes longer for the, the people, the regular individuals to understand what inflation is about and what are, what are the central banks and stuff like that. So they have to manipulate media so, so they can't really fight bitcoin. What do you think, Jordan?

It's just the trend. It's the trend emergence we started, we got, we got. China kicked it off with a Their annual bitcoin ban. You know, we got India now talking about we're banning bitcoin. You got Hillary Clinton being like, we can't. We don't want to like, let them know that we're weak enough that we can't ban it. So we'll try and use a propaganda to get it down. But the fact of the matter is, like, yeah, I think we. As we were. We were all kind of talking about it before is where are these. Where have these people been for the last 10 years? It's not like it just popped out of nowhere. It's like, surprise, it's not Halloween, guys. Like, we've been talking about this, like the whole Gandhi thing. First they. First they ignore you, then they laugh at you, then they fight you, then you win. Like, like we're in that fighting phase now. Like, oh, crap. But they're not going to win. And the best they can do is try to scare people away from it because otherwise they can't ban.

I agree 200% also too.

No, no, go ahead. I'm just saying that India, if India follows what China did and bitcoin rallied after the China movement, great for me. Let anyone ban. Because bitcoin price is going to continue rising among. With other cryptocurrencies. We don't.

Exactly. And the IMF was even kind of hard trying to talk to El Salvador about how them holding bitcoin was a very bad move. It's funny to me that all of these people are now kind of coming out of the woodworks and just now realizing, like, hey, yeah, bitcoin could one day potentially replace the US Dollar as a reserve currency. Let us know your thoughts in the chat, folks that are tuning in today. Do you think will it also speaks.

To the power that like, we as people actually hold. Like, we are the ones that control the government, so to speak. Unless we. We abdicate our power to them and let them dictate to us what they are we are supposed to do. They're trying to like, tell us you're bad for doing this thing. We're all we can. We're all like, you're bad for printing and printing and printing money that makes all of our work value go away. Like, who's worse? You know, they can't. We, the people have the power. We just all have to accept it.

Exactly. Amen. Amen. Well, let's shift gears over, over to the metaverse. I know that has been a huge topic as of recently. We're going to go ahead figured out some tech Difficulties. Now let's get into this one. So the Metaverse is a 1 trillion dollar opportunity after users increased 10 times. This is according to a Grayscale report report. Essentially Graysale was saying it's, it's super bullish on the Metaverse, estimating that the market opportunity for bringing the Metaverse to the mainstream may be worth over 1 trillion in the next few years. And so guys, what are your thoughts about what, what could potentially happen with the Metaverse in particular and some of these tokens that have just been taking off. Jordan, why don't you kind of jump in here again?

I think the, the NFT Metaverse game, that's probably one of the real angles to mass adoption. So we're going to see a lot more inflows just from regular people interested in this because there's a lot more that Metaverse offers. Again we, the people that older people in general that like to like start to save up money and enjoy like a good yield. Younger people tend to, not I this is my own personal experience before 30, I'm like, who cares? Now I'm like man, I want to make sure that I have money to save for the rest of my life. But so the younger crowd coming in are more interested in the games and Metaverse stuff and it's entertainment. And it's also replacing our old, the old paradigm of US consumerism making stuff, buying stuff. We can't, it's not sustainable even just economic, not economically, environmentally. We're moving in a different way direction as a humanity. So they're kind of transferring that into this digital realm. So all these things we used to spend money on out in the physical, we're going to spend money on in the digital. And that's the Metaverse. It's creating that architecture and background. Yeah, Marcel, what do you think?

Yeah, Jordan, I agree, I agree with you. But when, when you say that you are bullish on Metaverse, it's just like saying I'm bullish with the Internet because each company is going to create its own Metaverse. There's no set of integrated metaverse where every company and every NFT and every token that's it's simply not going to happen.

More cell not bullshit. I mean I'm a believer that we're going to have a ready player, one future where all these metaverses are going to become one underneath umbrella Metaverse. I, I mean think about it. Think about how Blockchain started. Those were all, you know, kind of siloed within the cells. Now you have projects that are trying to do interoperability, you know, and you kind of see that segment potentially emerging in the future and same thing goes for the Metaverse. So those are my kind of hot takes. Now in regards to the market itself, I want to kind of pull up some charts here in regards to some of these tokens that we've been seeing. In particular, Sand Token is a token for Sandbox, which is a project inside of the Metaverse. And look at this. This is absolutely bananas. I mean if you see it broke out of this wedge here and this was back in early November 15, which was like not even a week ago and this thing just has been on an absolute tear. This moving average here seems to be kind of taking up slightly and these V waps are just going straight up. You saw it kind of bounce off of that V WAP there and yeah, it touched $8. And we're going to kind of get into this later on on the Markets Pro segment. But I, I, that's one of the Metaverse tokens that I've been watching, people watching. What kind of Metaverse tokens are you all into? Let us know, drop it in the comments. Don't forget we're going to be picking that markets Pro 1 month subscription winner today. Let's see what Arthur has to say. He's saying the government supposed to be our representative. That service that hasn't quite been working out for us. It's time for things to change. Government of the Metaverse. Question mark. I don't know. Let's go ahead and jump into. Super excited to bring on Michael today. Got a lot to dive into. I know he's going to pull up some charts, going to walk us through some stuff. We're going to answer some of the questions from our Markets Pro community members. So stay tuned. Let's go ahead and jump in. All right folks, we would like to welcome Michael Vandep. He is a professional full time day swing trader in cryptocurrencies and based in Amsterdam and is interested in everything related to blockchain. He's also the CEO of the consultancy and educational platform eight which aims to provide ongoing content on the cryptocurrency markets in order to assist traders and investors in formulating a more efficient strategy. But more importantly, Michael is also a contributor to our very Coin Telegraph where he writes articles based on technical analysis in market sentiment. Michael, thanks for joining us today. How are you today?

Well, the light is green today, so I'm doing well. How are you?

That's awesome. Love to see that stuff. We, I know we got a lot to unpackage this week with diving into some charts and stuff, but we want to kind of touch on a topic that, that we've seen you speak on in the past. In, in general, do you think cryptocurrencies have received negative connotation because of like certain media coverage? What are your thoughts on that?

The thing is, is that usually when it comes into media coverage it's only discussions about Bitcoin or it's Elon Musk a combination with Bitcoin. That's how it used to be earlier this year where Elon Musk was moving the markets so the media jumped on it whether it was positive or negative. The other way you get in into the media nowadays is whether through Floki Inu, Shiba Inu or all those meme coins taking over the entire coverage or Dogecoin. That has been, that has been the central topic for media regarding crypto now lately and I saw yesterday on CNBC they are going to include on chain analysis and it's getting a little bit more mainstream. So I think the entire momentum is shifting because of, of adoption towards the mess with NFTs or the metaphors. It's getting a little bit more mainstream and the topics are shifting from meme coins to actual product.

And shifting kind of into like the price action. Do you have any of the charts on Bitcoin or ether, all coins that you're bullish about right now or you want to walk us through any of these charts? Maybe.

Well, if I'm gonna say anything bearish about metaphors, tokens, I'm probably getting slaughtered for it. But yeah, we can walk through charts but we can do it a little bit later maybe if that is more handsome right now. But I can, I am not able to share my screen right now either, so.

Okay.

All right, well let's, let's answer some other questions first. I know this one is actually from our markets pro community and we'll kind of give Michael a chance to pull up some charts and stuff. It's a what like I guess walk us through like when you. Oh, oh, particular.

Someone is lagging.

Yeah, he's lagging. I'm gonna shoot my question. So if a coin is on all time high like the sand is right now, what are the indicators that you need to see or confirm to. To to be confident enough to buy during the all time high?

It's difficult to, to get into coins that are currently at an all time high level. Especially I've raised the topic yesterday about the Fact that I'm not buying sand mana or any of those metaphors tokens right now because of the vertical price action that we've seen. What I'm looking at is that they retest some higher time frame auto blocks for any, any trade at all. And second, it's just common sense that you use if something runs out of Nowhere into an 8x, the valuation is probably a little bit overvalued at this point because why are they running? They are only running because of a potential growth in the metaphors that we're going to have, which makes sense for the future. But the run itself is only built from the metaphors word. And the hype that we're currently getting. We've seen it happening all the time. We've seen NFTs, we've seen DeFi, we've seen ICOs in 2017. Anything related to that, those topics and what, what's happening often is that it gets the first run, then it crashes, it stabilizes and that's the moment you want to step in. So especially if something starts to run in a vertical manner, I'm just avoiding taking that trade until it retraces for at least a few weeks or maybe even a few months and then I'm going to take a trade from that one. How am I going to establish my take profits? Well, based on my portfolio. And second, just Fibonacci extension. Very simple and easy to navigate through the charts. I guess. You're back, Benton.

Yeah, so I. Yes, I am back. This was actually a question. You're not from Markets Pro. You. When you're, you're assessing new coins, Are there any particular routines that you go through when you're assessing new coins?

Yeah, I mean there's, there's different strategies when it comes to string trading and investing, you probably have a different strategy than when you're day trading certain assets. So those strategies have to be used in a different way as well. But especially when something starts to run heavily when it comes to metaphors. My routine is to just zoom out and take out the very important support levels that you have to look at. So higher time frame levels, we can show it in a little bit. I can still not share my screen, but just higher timeframe levels that I'm looking at and then you're assessing it from aggressive to less aggressive and then you can start building your day into swing trade positions. So aggressive means that that's the level that I'm going to look at for day trading or sculpt trading opportunities. The lower it gets and those coins can easily just retrace 80% and still be bullish. The point is, is that they are currently just overvalued and the people that were into that project in the beginning will probably start taking heavy profits and that's why they can come down heavily before they hit and heavy support zone. So I'm just using order blocks, price action, price levels, breakouts, support, resistance, flips. I guess if you're following me, that's, that's probably how I, how I used to trade instead of using Ishimoku, clouds and whatever the market can bring.

Yeah, thanks Michael. And kind of focusing on Bitcoin with the like there's a lot of hype around the Bitcoin ETF and stuff. But how did you see the price action that kind of came about with that? Was it a disappointment or do you think we're going to recover from that in the future?

The ETF is something that is not going to have an immediate impact. I think it has to be built over time. Especially if we get multiple options in terms of ETFs or baskets of crypto or an Ethereum ETF or ETPs. There's different sorts of financial instruments and that is just something that has, that will be having an impact over time. So you will not be having a drastic or immediate price action from it, which is different than when the CME futures were launched. The only thing that will adjust or will change is the fact that macroeconomics and institutional investors will be moving the markets. So what we're seeing currently is that the impact of the dollar is having an impact on the price of Bitcoin. The movements of the Fed are having an impact of the price of Bitcoin. That is because the asset is just growing and institutional investors are getting into the market. So the markets will behave in a different way. And that's why plan B is. And the four year cycles are done too.

Oh, I have a theory that we're going to start seeing longer cycles in the future. Do you think, do you agree with that too?

Yeah, I mean like imagine we are having a four year cycle and we're going to have that in the coming 50 years. It would mean that if that is going to be true, everyone will be a billionaire. Which is the. It does not make sense to me. Then second, in the, in the past we had the having cycles right and the halving price actually impacted the price of bitcoin. Why? Because the actual price of Bitcoin was relatively close to the price of mining one Bitcoin Right now what we see is that the price is accelerating quite fast, which means that the gap between the cost of mining one bitcoin and the actual price of bitcoin is pretty big. So the impact of the halving is just decreasing over time while the impact of macroeconomics is increasing over time. So that is where we are getting right now. And we are probably starting to realize that this one, the macroeconomics are taking over the halving cycles and that's why we're going to get those lengthening cycles at some point. And actually that's what you want to have when it comes to bitcoin. You don't want to have four year cycles, you just want to have longer cycles with lower volatility at some point because you want to have a stable currency.

Do you think that the recent China ban for example, shifted how bitcoin is being traded or the relationship with altcoins or stable coins are getting more used? What do you think changed after the China ban?

Well, what I've realized is that maybe you see it too is that there was during 2017, Asian coins, or Chinese coins in particular were doing really well. And in the past year I've not seen many coins out of that region doing really well. So that impacted the markets then. Second, what I realized too is that the actual movements during the night for me, I'm in Europe and usually markets moving during the night because of America and China. That is slowly dropping off too because most of the movements are taking place during Europe time right now. That is what I see in the price action as well. And then finally, I mean we have seen the beautiful concept of miners shifting towards other countries and bitcoin is still alive. So we are having a decentralized world and we are making the fundamental layers for that. So I think it's a good, good next step. If a country bans it, then we go to another one.

So do you still feel like bitcoin is, is one of the strongest assets in the world?

That I mean it's depending on the moment you're asking it, right? So if you're going to ask me when bitcoin is at 250k, I would definitely argue to say that probably the dollar is a better investment. But I think it's one of the strongest assets because it's getting the closest towards what it, what we really want to, wanted to achieve with gold, which is sound money. So definitely for what it could be in the future is that bitcoin is still a very strong assets in crypto in general and what I find beautiful right now is also an answer to the previous question is that usually we had a pretty high correlation between altcoins and bitcoin, but right now it's more getting segments that are having a correlation with bitcoin. Metaverse don't really care about bitcoin dropping. NFT tokens don't really care about bitcoin dropping. Some particular layer ones like Avalanche and Elrond don't really care about bitcoin dropping. While in the past if bitcoin sneezed, you had a crash on altcoins happening all the time and that is not happening right now. And I would love to see that because that would make trading and investing a way more complex game and a way more fun game. So bit bull and bear cycles are going to shift a little bit.

And do you think we're going to get to from 60 to 120 faster than we got from 30 to 60 for Bitcoin or do you think that, that we might kind of extend that cycle out a little bit longer?

In the theory of. You were discussing it before I tuned in. In the theory of a parabolic movement, you will probably expect it to run faster than the one from 30 to 60. However the, the entire run from 10 to 60k was quite vertical to be honest. Yeah, so if you expect it to be into a parabolic run like, like we usually get, then probably 62,120k will be faster. But if you assume that we're getting a lengthening cycle and we are having another bull run after the previous one, it will probably start taking a bit longer. But then the peak high will be way higher than the most most are expecting.

Okay Michael, I have a community question which is also a great doubt of for myself. Like do you have like multiple wallets? One for the short term, one for longer term. How do you hold your, how do you manage your risk while being a full time trader?

Well, most of my, my wallet is into futures. No, most of the wallets are into hard wallets. The investment portfolio which I just do not touch, I mean that's just on hard wallets that, that I'm not getting close to any exchange. Then I've got my swing trade portfolio and then I use a different exchange for day trading. So I've got three different portfolios. And then I also still have my staking portfolio as I want to try to get a passive income through whatever crypto has been bringing. So I've got four portfolios, so I'm just dividing it because if I shift my swing trade portfolio to the exchange where I day trade, it's getting confusing. So I think like it's the same as doing ta. If you had a pretty heavy night on Friday where you have been drinking and whatnot, you want to understand the chart within two minutes. But you also want to realize which wallet you're trading with. And if you have your swing trade and day trading mixed up, you first have to calculate which one is the right one. And that is if you have our hang out having a hangover. It's quite complex, I could say.

So, Michael, I want to know what coins are you watching most closely right now in the market? Whether it's altcoins, Metaverse tokens, whatever that may be. Which ones are you kind of like looking at entering in potential positions here, maybe the weeks ahead?

I generally am watching what Bitcoin is going to do. If you look back at history, then Q4 usually is not a best period for altcoins to have them. So I'm looking for positions to be building them in the next few weeks or in the next month. And when it comes to building that position, I think it's going to be a mix between layer ones that have not been running yet and Defi. So we've seen Elrond doing well, Avalanche doing well, Solana, Phantom, Harmony too. But if you look at projects that have not been doing well, it's Polkadot, it is Cosmos. Those projects are still eager for that run. And the one that have been lacking or the segment that have been lacking the most is still Defy and Oracles, which I assume will be following suit of Ethereum and all those other layer ones. So then you get it to Curve, which is just breaking out. Aave, Synthetics, all those projects. Chain Link, which has been a big show during this entire year, but still Oracles are needed for D5. So if D5 does well, oracles will do well too. I think those are the segments that we still have to look at a metaphors. I mean it's a beautiful run. They also told me that ICOs were the next big crowdfunding platforms. They died. Metaphors will be big at some point, but right now it's just it has seen the run. So I'm only looking for shorts there and I'm looking for some sculpt. Right.

And do you think like long term with your extending cycles, do you think we're gonna get another like 80 correction bear market like we did like 2018 to 2019 or do you think it's Gonna institutions might provide a little bit of a buffer there.

No institutions like institutions. It's not an argument to avoid. 80. Correct. So institutions were also there during the dot com bubble. So why did that crash 90%?

Yeah.

I think we're going to get lengthening cycles but I think we are into the super cycle which is compared to the dot com bubble. I mean the size of the dot com bubble was around 12 trillion. If you use interest rates you get to 30 to 35 trillion in nowadays money and we are just at two and a half. So we are in the middle of the bull cycle and still a pretty long way to go. So I think that bitcoin and crypto will be running quite heavily in the coming year or maybe longer but I think a year and in that period bitcoin will get to levels that it can easily crash 80% and come back to the peak high of May 2021. That's still one phase that we're going to get to. Especially if everyone dives onto crypto. You get that overvaluation of the markets and then you just have to come back down. The beautiful thing though is that you get bubbles in bubbles. So you have the metaphors bubble right now we've just had a D5 bubble last year and that's going to happen all the time and that's just fun to trade with I guess.

Awesome. No you great insights today and it was a pleasure bringing you on. Would love to get you back on. Maybe next time we could run through some charts and stuff and and kind of dive a little bit deeper. But super awesome to have you on. We appreciate you jumping onto the market port today.

Yeah, it's a pleasure man, thank you.

Awesome.

Thanks Michael.

Good stuff Michael today.

Yeah.

Good stuff. So I know if you haven't liked and subscribed go ahead and do so. We have been chiming in on the comments today. See a lot of folks, Arthur has been super active. We love that, love Arthur's comments that he's all over the place. If you like and subscribe go ahead and do it right there. Hit the subscribe button. It is time. It's Thursdays market report time. So for today we have some tokens that you should be watching. Let's go ahead and get into the markets pro segment. All right we got some tokens folks. We got tokens to watch this week on markets, plural platform we had amp. And for those that receive the newsquake alert and for those who are watching and don't know what the news quake alert it is a newsquake. And they're automated alerts that instantly notify users when market moving events happen. Thanks to Market Pro, subscribers often beat the crowd to the most important news of the day. When it comes to trading, timing, as you know, is so imperative. So let's go ahead. Danil, if you wouldn't mind pulling up the chart that we have for amp. We see that nice little news quake there at the bottom. And what happened was amp was slated to be listed on Binance. There was a tweet that went out on Binance and our newsquake alert was able to catch that. And if you were able to jump in on AMP, you were able to ride that pony from 5 cents all the way up to 7 cents in just under an hour. It's a gain of 42%, folks. You just love to see it. The other token that we talked about earlier is Sandbox sand and Danello, if you wouldn't mind pulling up this one. I run through some Vortex scores and for those that aren't familiar with the Vortex score, it's a comparison between current market and social conditions and those in the past. A high score for Vortex judging on historical data is current, is the assets outlook, and is bullish for the next 12 to 72 hours. So we see here on the chart, that green line there indicates that the Vortex score was high in the 80s. And see the square boxes? And that's the line you love like an absolute rocket. Love to see that. And it rose, I think it hit 87 on the vortex score, it looks like. And it went from a price of 509 all the way up to 832 in about two days after that vortex score. First touch, 87. Unreal. You just. It's like the markets pro platform. I can't rave about this thing enough. If you all are watching today, go give it a try. That's why we're giving out a one month free subscription. It's time for you to comment because we're gonna pick those winners down in the comments. You're gonna get a subscription for that stuff. And we have that 20 discount code in the comments too in the description for the video. So that was our markets pro roundup for this week. Jordan's got a lot to talk to us today about the Metaverse in particular. So I'm going to hand it over to him and let's get into Jordan's expert segment.

Okay, so like we've seen the Metaverse tokens take off recently. Gaming Tekkens have been really, really Popping off as well. Just more and more sectors are rotating in and out of popularity while bitcoin, as Marcel mentioned at the Open is just trading sideways. Trading sideways kind of popped up to a new all time high but quickly retreated down. So I'm prompted to ask, like, have we started to see separation in the market where the price action for bitcoin is no longer the overall dominant force of price discovery and altcoins? I know I saw somebody early in the chat comment that if bitcoin dropped to $30,000, everything would take a pit. I'm like, yeah, that's, that's a 50 drop in Bitcoin at this point, of course the whole market would take a hit. That's a outlier. But like on the more longer term scale we see NFTs, we see D5, we see even dinosaur corn starting to run. So I'm, and we've, the whole structure of the market has shifted and there's a lot more prevalence of stable coins out there. So I'm just kind of thinking that the old adage of bitcoin and the price action for bitcoin really controlling the whole market and dictating what happens for everything else is going to start kind of losing its dominance or value over time just because so much more money is coming in and people have interests in other projects.

So yeah, correct me if I'm, if I'm wrong. The, the chart you just showed us seems like bitcoin dominance has been between 41, 44 for the past four or five months. So isn't that just normal altcoin rotation? It doesn't matter if bitcoin is up, down.

Yeah, don't you pull that chart back up for me real quick. So yeah, we'll see it here. You see, so earlier in the year it really, it came down again. If we scroll back a little bit. So this was the end of last year. Bitcoin price runs up and then early January, like the defi takes off and then NFTs take off and all this stuff and we hit down here and then the whole market corrects. And yeah, we get to see this price of this sideways action for this is the bitcoin dominance chart. So how much of the total market cap is in is held within bitcoin. And so ever since May we've been, we have been trading sideways. We got down to like a low below 40 in September and then Bitcoin ETFs come. El Salvador launches or accept bitcoin and bitcoin gains, but then gaming takes over not DeFi yet. NFTs have grown in popularity and we were actually looking at this chart, me and Benson earlier and like there could be a case for like a possible inverse head and shoulders forming here, which could be a bullish thing for bitcoin dominance overall or we could see like a bottoming. But if you see right here, it's kind of a resistance level for the bitcoin dominance and there's a, or resistance up here support down here. If we break below 40 and head anything meaningful lower, that's really going to spell the end for like bitcoin controlling the mark action in the market. In my term, in my, my perspective, you know, that's always up for debate and external factors could happen in the wider world. But overall it just seems like the altcoins are really starting to gain momentum. And again I mentioned it previously because in 2017 there was a lot more just all the exchanges were crypto to crypto exchanges. So if you wanted to buy an altcoin you had to use most likely bitcoin or ethereum eventually towards the end of that cycle. But in the last four years, tether has just printed billions and billions of tether. There's a lot more different viable stable coins. Whether it's a DAI or magic Internet money, it's a more decentralized version or you got USDC and USDT which are centralized versions. They're out there and spread across the exchanges. So like in last time, if bitcoin price went down and all the coins out there were trading against bitcoin, their price went down just because the last trade was made against bitcoin and because that price has now decreased, their value has decreased. But we're not seeing that anymore since there's so many more stable coin pairs. If bitcoin price goes down, it doesn't necessarily affect all the altcoins because they're trading against stable coins. So they might hold their value or go up. I've seen like I have noticed sometimes people bitcoin price does start falling. There will be one or two specific altcoins that just start shooting up and it's like people are rotating into those to try and escape the falling price of bitcoin and capture the latest trend. Because again it has been sector after sector after sector that's been taken off even on coin telegraph markets Pro there they have an altcoin altcoin season indicator. I don't think it's gotten below 30% all year long. So all year long it's, it's been indicating that we're in more of an alt season compared to previous times when bitcoin price was going up or altcoins were going up.

So what you're saying is that if the stable coins continue to grow, market cap and more altcoins stop being listed based on Bitcoin and Ethereum start being listed and traded on, on stable coins. That's going to help to decouple the altcoin markets from Bitcoin and Ethereum, Is that what.

Yeah, yeah, it's starting to decouple it. That's exactly what I'm saying. It's not. Those prices aren't so dependent upon the price of Ethereum and Bitcoin. And again, I've mentioned this in previous shows. What we're getting here is actual more adoption. We're getting the wider public that's not so interested in just, maybe just financial matters or just a store of value. We're seeing people that are interested in comic books or memes and all these different things. So their value is going into other sectors of the market, not just bitcoin or Ethereum. And it might be years before they even get interested in those things. So a lot of the value that's going to be coming in isn't going to be focused on getting into Bitcoin or Ethereum because they're more interested in the gaming or the memes or whatever Elon Musk is tweeting about and all these different things. So yeah, over time it's just the, the, the impact of Bitcoin being able to control the price of everything is going to decrease.

What. One more question. What do you think that needs to happen for, for example, the defy or the NFT sector to be the main metric or the main gouge of the crypto market instead of Bitcoin and Ethereum per se.

It would probably just have to be something that a lot more people are adopting. Like, like NFTs are a lot more popular than even defi. We like D5 because we can earn a yield. Right. But if you do the searching like NFTs, the, the search, the rate of, of search increasing for NFT is, is, is eclipsing defi. It's eclipsing Bitcoin and Ethereum. Even Dogecoin, like Dogecoin was one of the most searched coins in, in 2021. But other things are starting to just take over. And yeah, we're gonna get to this point where the massive proportion of people in the crypto market aren't interested in Bitcoin. I think that's just my opinion because that's not what most people aren't interested in. If they were, they would already be in the field. But there's a lot of people that have never been interested in bitcoin. But you bring in gaming, you bring in play to earn, you bring in metaverse, you bring in memes, people like, oh, you're starting to tickle my flavor. I get it.

Marcel, you got snacks today, man.

Raisies.

Thanksgiving.

I don't know if it's getting hungry over there, man. He's hungry for those raisins. I want a turkey.

I want a deep fried turkey.

But.

I mean, I think it's to, to Jordan's point though, like, I, I think it's going to be interesting to see the evolution. We were talking about this on the pre show. My belief about The Metaverse and DeFi in general is that it's going to become a giant spider web where all these bridges and connectivities are all going to kind of branch into one and it's going to be housed under one giant ecosystem. And so that could potentially lead to, you know, a future where those coins are completely like separate from your typical kind of store value tokens that are kind of right now, your bitcoins and your east. So, you know, that universe is going to be a very interesting thing to, to watch from the sidelines and be involved in for the next five, 15 years. So yeah, great insights today. Jordan, for, for the expert stuff. Do you want to add anything else?

I was gonna say I want to address this guy's question. My top salon. I don't know a whole lot about Solana. Like there's some product on there, but as far as gaming goes, stick out Star Atlas. It's kind of starting to climb the charts. If I was going to gaming play, that would probably be the one for Solana. So that, that's my only. That's not investment advice. That's just the thing that I'm interested on on Solana.

Great, great insights. I'm gonna answer Elijah's question. I'm staking on Marinade Chef. Not the greatest yields, but again, I'm, I'm always navigating in and out of D5 projects. Uh, right now that's kind of my current platform that I'm sticking on on Salana. All right folks, it's time to, to go ahead and pick our giveaway winner for today. One month subscription of Markets Pro. Who are we going to pick today, guys? Who do you guys want to go after? We had, we Had a lot of great folks tuning in today, chiming in on the chat. Anyone in particular that that stuck out.

I see Arthur commenting a lot.

Arthur was awesome today. Great insights from Arthur, I have to say. Arthur, you're our winner today. Let's pick them. Arthur, you are the markets pro winner for today. We appreciate you chiming in. You were adding some great color commentary and an avid, avid fan of crypto as it says in his name there. Arthur, go ahead and drop in your Twitter handle. In the chat here he said soul chicks on Solana. By the way, that was his Solana project. I've actually seen them. So Arthur, drop your Twitter handle in chat. We're going to give you that one month subscription. You're going to get a DM from Cointelegraph. Guys, any closing thoughts today? And, and because it is. Thank giving. Why don't we go around the table here for market report and tell everyone what we are thankful for today in the crypto world. Jordan, do you want to start us off?

Oh, I am thankful for cryptos in general because like the world's freaking out about inflation, but cryptos are like, well, I'll take care of that inflation for you. So yeah, I'm thankful for just the fact that cryptos are helping give me a little bit of protection from the craziness that's going on in the world. And my word of advice, I say it every time and I'll say it again, like we see it was saying when it goes from $1 to $8, take your profits, folks. Like it's gonna, it's gonna pull back. The same investment advice, but this is like it, it's gonna pull back like it's gonna do it. It always does. So take your profits. If you really like the project, you can buy it back later. That's not investment advice. That's just smart planning. But yeah.

So Marcel, what are you thankful for today, man?

Okay, so it's gonna be deep and insightful and okay, leaving the, the trading addiction because once you start trading crypto and you know that's 24 hours and you can lose leverage and they're like 2, 000 coins. You, you enter a rush that you think that you need to trade every week or every day that you need to leverage until stuff. And after two or three years I realized that it's not going to be about a single weekly trade that's going to make me a lot of money. It's about okay leaving a 70 to 80% long term position on my core holdings and yeah. Leaving 20 to 30% maximum to choose some of the some coins or some projects for a monthly bet, but not for a daily or for a weekly. So the less I'm trading, the more time I'm having to enjoy my family and to do things I love. So I recommend that to everyone, especially on Thanksgiving Day.

Excellent. Deep insights there. Greatly appreciate those wise words of wisdom from Marcel. Yeah, I, I think I'll add in patience. Patience is a virtue. Sometimes doing nothing is actually the best thing when it comes to doing your trades for crypto. Marcel couldn't have said any better. That's going to do it for today on the Market Report. We appreciate all of you tuning in and especially those during the holiday here in the US for chiming in and jumping into those comments. We love having you here on the Market Report. Make sure you subscribe to Cointelegraph. It's Thursdays. We're here the Market Report. Jordan, Marcel and myself, Benton. We will see you next week. Thanks for jumping on today, y'.

All. Sam.