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summary of Miles Deutscher

the crypto bull run is in big trouble. here's why

played: Thu, Dec 19, 2024, 17:00

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**Live stream delay** The **live stream** on the Virtual Bacon Channel has been **delayed**. The host apologizes for the inconvenience, emphasizing that this is not a **typical** occurrence.

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word count:

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the crypto bull run is in big trouble. here's why

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⁠0:00 ⁠ the Federal Reserve fomc meeting just changed the trajectory of cryptocurrency ⁠0:06 ⁠ and many altcoins off the back of Jerome Pal s speech ended up taking massive ⁠0:12 ⁠ dumps over the last 24 hours so in today s video I m going to discuss the ⁠0:17 ⁠ implications of what has happened over the last day and also discuss what you ⁠0:23 ⁠ can do right now to put your portfolio in the best position to succeed over the ⁠0:29 ⁠ next few weeks and the coming months I do believe it s going to be a really pivotal few weeks for crypto here and ⁠0:36 ⁠ we re going to be diving into the Dynamics at play in the market in today s video I also have used this ⁠0:43 ⁠ recent dip as an opportunity to position myself in a couple of new trades which ⁠0:49 ⁠ I m going to speak about today and I m going to answer the questions of should you be drisking now is it time to take ⁠0:56 ⁠ advantage of this dip and actually buy coins if you are going to buy coins which coin should you actually look at ⁠1:02 ⁠ buying because not everything in my opinion does look good to buy right now so we re going to get into all of that ⁠1:08 ⁠ and more in today s video If you do enjoy this type of content make sure you do subscribe for daily crypto updates ⁠1:14 ⁠ because it is going to be I think a very volatile next few months in crypto ⁠1:19 ⁠ volatile both to the downside and to the upside so you definitely need to make sure you have your finger on the pulse ⁠1:26 ⁠ due to the fact that the market is so choppy at the the moment which does create opportunities right but you ⁠1:32 ⁠ really need to uh navigate this in the most diligent way possible because it s ⁠1:38 ⁠ very easy to get chopped up in these Market environments so clearly many old coins are down but let s firstly beforeWhat FOMC Means For Crypto ⁠1:43 ⁠ we go into the olds discuss why this actually happened and basically it was off the back of Jerome Pal s speech the ⁠1:51 ⁠ S P 500 fell sharply and the FED cut rates which was expected by 25 basis ⁠1:57 ⁠ points however the hawkish T that Jerome pal used and some of the comments that he made did end up with ⁠2:05 ⁠ the markets reacting negatively because they were signs that inflation is coming back and off the back of that the ⁠2:12 ⁠ predicted rate cuts for next year dropped from 3 to 2 whilst they raised ⁠2:17 ⁠ their inflation expectations from 2.1% to 2.5% and the market reacted negatively ⁠2:24 ⁠ to that hawkish sentiment which resulted in the S P pulling back into the trend ⁠2:30 ⁠ line which actually by the way looks completely normal if you look at the S P right now there s nothing to really Panic about every few months it does get ⁠2:37 ⁠ pullbacks like this we had one on August 1st we had another one on the 31st of October and now we re getting another ⁠2:42 ⁠ one now on the 18th 19th of December so it is normal for the S P to pull back ⁠2:48 ⁠ but obviously because crypto run up so much the second the market starts to retrace a bit crypto acts a lot more ⁠2:54 ⁠ violently and this is always going to be the case especially in a bull market when stocks pump crypto generally pumps ⁠3:00 ⁠ a lot harder and when it pulls back crypto generally dumps a lot harder so if this is your first cycle if this ⁠3:06 ⁠ happens to be your first rodeo I want you to know that this kind of price action is completely normal it is completely normal for all coins to drop ⁠3:1320 ⁠ to 30% in a day potentially in a bull run it is completely normal for Bitcoin to have massive pumps and then retrace ⁠3:19 ⁠ and SS going with it this is normal price action however there are some ⁠3:25 ⁠ concrete changes to the market dynamics which I think have happened over the last 24 hours which we do need to ⁠3:30 ⁠ discuss because I think it has slightly changed the trajectory of the markets versus let s say what I was anticipating ⁠3:37 ⁠ from one week ago and we re going to get into that looking at Bitcoin right now it is sitting around 000 actually ⁠3:44 ⁠ in the past couple of hours it started to dip back into this trend line technically this is still a higher low ⁠3:51 ⁠ for Bitcoin and it is still exhibiting uh bullish momentum in terms of the general uptrend that it s in I really ⁠3:57 ⁠ don t want to see a break below 100 I think if you start to hover below 100 for a day or so then Bitcoin could ⁠4:04 ⁠ easily pull back to 95k so what we really want to see is Bitcoin holding 100K that s going to be super super ⁠4:11 ⁠ important to watch the markets are likely going to be shaky over the next few days and I am expecting a bit of ⁠4:17 ⁠ choppiness very strong rebounds but also strong sell-offs so just keep that in mind but Bitcoin technically yet has not ⁠4:24 ⁠ made a lower high and has not broken down despite retracing a lot of its gains from 7 to 100 I mean let s just ⁠4:31 ⁠ remind ourselves right now that Bitcoin is still over 000 we have a 000 Bitcoin and the sentiment has ⁠4:38 ⁠ really taken a turn for the worst I mean sometimes it really surprises me how quickly sentiment in crypto shifts I ⁠4:45 ⁠ mean just 8 days ago everyone was euphoric everyone wanted to fomo into AI coins utility coins xrp and now all of a ⁠4:53 ⁠ sudden everyone s panicking again it s kind of crazy how we get the these sways in the market and I do think the ⁠4:59 ⁠ volatility in Market increases as more retail participants enter the market because they aren t necessarily as ⁠5:05 ⁠ experienced as some of us so obviously these swings are going to affect this Market sentiment more so and you are ⁠5:11 ⁠ going to see more panic and that s and that actually ends up reflecting on the chart so the deeper you go into a bull run the more retail that s on boarded ⁠5:18 ⁠ the more violent the volatility becomes because a you have more trading volume but B you also have a lot more normies ⁠5:25 ⁠ trading against more seasoned veterans and that does lead to shakeouts manipulation and uh just more Panic ⁠5:31 ⁠ generally on red days so let s summarize what the meeting actually means for ⁠5:36 ⁠ crypto because I ve seen a lot of opinions flying around but let s just talk facts today about what jome pal ⁠5:42 ⁠ actually said and how I think this is going to impact crypto over the next couple of days but primarily over the ⁠5:50 ⁠ next few weeks and months because I m not really a low time frame Trader I m more interested in how does this affect ⁠5:55 ⁠ the way that I position heading into the month of January and Beyond so Jesse ⁠6:01 ⁠ summarizes it well here number one the FED delivered a hawkish cut this is pretty much where they still cut rates ⁠6:07 ⁠ but they include certain terminology that implies hawkishness uh or reduces ⁠6:14 ⁠ the likelihood of future Cuts in the market the following year and also some of the comments about the expectation ⁠6:19 ⁠ for inflation to increase did catch the market a little bit off guard because ⁠6:25 ⁠ obviously if inflation is anticipated to increase the FED might not have the ⁠6:30 ⁠ license to cut rates as much due to the fact that that could only cause further ⁠6:35 ⁠ inflation but this is a tactic that Jerome has used in order to quell markets in recent times so they re kind ⁠6:43 ⁠ of playing on a bit of a knife s edge they re trying to keep the markets coolish whilst also stimulating the ⁠6:51 ⁠ economy so then that s where you get leeway for some of these comments to come in and that s where you do see ⁠6:57 ⁠ Market reactions like this of the back of that um it is quite normal we saw it multiple times especially in ⁠20237:05 ⁠ as well when macro was a really prominent factor I think in recent months macro has taken a back seat this ⁠7:10 ⁠ is one of the only fomc s in recent times that I would say have been a burger instead of a nothing Burger ⁠7:16 ⁠ because recently I mean I even expected this potentially be a nothing Burger um obviously I saw on the charts there was a bit of Dr risking like I highlighted ⁠7:23 ⁠ in yesterday s video prior to the event but we have actually haven t had a concrete uh Market reaction of this ⁠7:30 ⁠ magnitude to an fomc in quite some time so macro is definitely important and the reason why I think it s become a little ⁠7:37 ⁠ bit more important is because we ve kind of exhausted the Trump trade somewhat so anyone that wanted to position off the ⁠7:42 ⁠ back of Trump s victory has now had time to position so the market is now looking for that next Catalyst that next ⁠7:49 ⁠ potential tail Tailwind to Spur onto new highs given the fact that the market has already rallied quite aggressively so ⁠7:55 ⁠ now macro became a little bit more of an important factor because the Market s looking for that next bullish or bearish ⁠8:03 ⁠ signal off the back of the Trump trade whereas if this fomc was a month ago the ⁠8:08 ⁠ market probably would have continued ripping higher because there was still a big Trump trade to play out and I think ⁠8:15 ⁠ that s why we saw this actually affect the market a little bit more than people myself included expected actually ⁠8:21 ⁠ heading into the event number three the FED stop plot projected another 50 basis ⁠8:26 ⁠ point of rate Cuts in 2025 which would take interest rates to 3.9% number four fed officials said risk ⁠8:33 ⁠ to employment inflation goals are now imbalance five the FED statement said that the fomc is strongly committed to ⁠8:39 ⁠ supporting Max employment 2% inflation now I am personally not a macro expert ⁠8:44 ⁠ so I m going to save the majority of my opinions in today s video to focus on my crypto strategy and altcoin strategy ⁠8:50 ⁠ however in the Mars high club Discord we do have a macro expert who helps the members during Times Like These and that ⁠8:55 ⁠ is Fabian so let me read out his post from last night in his Market commentary Channel as to what we should take away ⁠9:03 ⁠ from this fomc Fabian said pal tried to balance out the hawkish projections by ⁠9:08 ⁠ stating that the actual outcome would be entirely data dependent and we shouldn t rely on the projections too much but his ⁠9:15 ⁠ words was still seen as hawkish and conveyed that the FED is trying to tell markets that they will be moving slower ⁠9:21 ⁠ from here at the end of the day it sets the bar low for a positive surprise down ⁠9:26 ⁠ the road and markets will find their new equal ibrium then move on in a week or so I think we ll have a couple bounces ⁠9:33 ⁠ between next week and New Year s but also think that this put us squarely in choppy Waters until the second half of ⁠9:40 ⁠ January when also considering seasonality and micro strategy blackout period now I would actually agree with ⁠9:46 ⁠ what he says here I think ultimately what the fomc did is not necessarily ⁠9:51 ⁠ cancel the inevitable I still think the seasonality is extremely strong the trend is extremely strong I still expect ⁠9:58 ⁠ allcoin to be much higher next year but I think what it did is it delayed things slightly now this can ⁠10:04 ⁠ actually be looked in in two ways it can be looked as a bad thing if you re impatient but it could also be looked at ⁠10:10 ⁠ as a good thing because it s buying you time to accumulate and reposition which is very important if you know the ⁠10:16 ⁠ destination and it also prolongs the bull market and typically the longer you can prolong a bull market the bigger the ⁠10:23 ⁠ gains will actually be because you have these opportunities during events like this to actually flush out the weak ⁠10:28 ⁠ hands and increase the sustainability of the market so I actually view this dip ⁠10:34 ⁠ as a good thing because it s actually flushed out a lot of the leverage in the market the weak hands in the market and ⁠10:41 ⁠ it also sets us up for a potential as Fabian says positive surprise down the line so I m all in favor of a slower yet ⁠10:48 ⁠ longer Bull Run and I think what this has done is potentially delayed things by let s say 2 to 3 weeks that is my ⁠10:54 ⁠ rough estimate as to how this has actually affected the market so it has changed the traj ⁠10:59 ⁠ of the bull run but it hasn t changed the outcome of the bull run which in my opinion does create opportunity and ⁠11:05 ⁠ that s what we are going to discuss later in today s video what some of those opportunities actually are Fabian ⁠11:11 ⁠ Ends by saying if correct the way to play the cooldown periods in the middle of a ball run is to slowly accumulate ⁠11:16 ⁠ strong assets When Things become oversold and don t overtrade or capitulate on deeper red days really no ⁠11:23 ⁠ need to rush anything I ll probably be posting less trades as a result which is also good timing with the holidays now ⁠11:29 ⁠ there are two types of dips in crypto there are big leverage liquidation ⁠11:34 ⁠ driven Cascades which happen really quick and very violently and then there ⁠11:39 ⁠ are more spot selling days now I think this was more of a general drisk SL spot ⁠11:45 ⁠ selling capitulation day rather than a leverage liquidation event just based on the data cu the biggest leverage event a ⁠11:52 ⁠ liquidation event was actually last week on Tuesday now the big liquidation ⁠11:57 ⁠ events these events typically the strongest risk-reward buying opportunities in the crypto Market ⁠12:04 ⁠ because typically after a massive liquidation Cascade the market will bounce quite violently which increases ⁠12:11 ⁠ your chances of being profitable very soon after the dump what happened today ⁠12:17 ⁠ which is the second category is more of a spot- driven capitulation event now ⁠12:23 ⁠ these events can still be great buying opportunities during a bull run but they ⁠12:28 ⁠ are slower in terms of how they rebound and they typically don t last a day or ⁠12:34 ⁠ half a day you may see bounces but these typically last a matter of days hence ⁠12:39 ⁠ why I say this may have delayed the Bull Run just slightly now they re both good accumulation opportunities in a bull if ⁠12:46 ⁠ you think prices are going higher like I do however there s less of a rush in these kind of events as there are in ⁠12:53 ⁠ those very quick liquidation events where you need to act quickly in order to get those quick gains so I have ⁠12:59 ⁠ started to ladder in today and I m going to show you exactly what into later in today s video the market actually showed ⁠13:04 ⁠ us some coins that are really strong right now even in the midst of a dip which could outperform over the coming ⁠13:11 ⁠ weeks but I don t think there is an insane Rush compared to if this was a ⁠13:16 ⁠ big liquidation event if that makes sense so I think fabian s analysis in the MS high club was spoton he also has ⁠13:23 ⁠ an AMA on Saturday if you guys want to ask him any questions pertaining to the macro side of things or potential ⁠13:30 ⁠ directionality off the back of fomc so make sure you do join that if you re in the Mars high club cuz I think that s ⁠13:36 ⁠ going to be a really really good one we also have another six mentorship live ⁠13:41 ⁠ sessions over the next week we have eight sessions on average per week to help you guys as the markets unfold I ⁠13:47 ⁠ know doc actually went live who s our head high time frame Trader in the Discord yesterday to help people during ⁠13:53 ⁠ a time um when everyone was panicking so we are here to support you um and we are here to help you navigate these period ⁠13:59 ⁠ because I believe that s a really really important thing especially if you re new to the market where you may not ⁠14:05 ⁠ necessarily be as experienced with navigating dips and major pumps because both are challenging in different ways ⁠14:11 ⁠ for J says here everyone will forget the jaw buron in 5 days pause in Jan has been priced in for a while no meeting in ⁠14:17 ⁠ February this is Max fomc attention for the next while I do agree with this comment here that s why I m showing this ⁠14:23 ⁠ tweet I think what usually happens with these macro events is that once the markets digest them it they price them ⁠14:29 ⁠ in over the coming days and weeks and then what typically happens is the markets move on markets are forward ⁠14:35 ⁠ looking once this new is digested they ll start to look towards the next Catalyst or the next major event and I ⁠14:41 ⁠ don t think uh fc macro will be a big Focus potentially uh until the next FC ⁠14:47 ⁠ at the end of January and then there s no meeting in February so the market has a little bit of headwind after that easy ⁠14:54 ⁠ financial conditions will continue to drive things once the jaw boner gets digested same as it ever ever was ⁠14:59 ⁠ because although you do have maybe the slight inkling of hawkishness now starting to creep in to fomc at the end ⁠15:07 ⁠ of the day we still are in a monetary easing environment Trump is still going to be the president we are also seeing ⁠15:15 ⁠ the M 2 money supply increase although it has decreased a little bit over the past couple of months the general macro trend ⁠15:21 ⁠ for that is up Global liquidity has also been increasing and equities are in a Raging Bull Run still so there is this ⁠15:28 ⁠ macro micro strategy and and the ETFs and all of that demand has also crept into the market so you do have the macro ⁠15:35 ⁠ side of things underpinning the crypto Market in general and also the stock market which ⁠15:41 ⁠ I think longer term will hold the market in good stead for future gains but it may just be a little bit of a choppy ⁠15:48 ⁠ period as the market actually digests this news I m actually noticing at the time of recording this video although the markets rebounded strongly overnight ⁠15:55 ⁠ we are starting to see a little bit more of a dip again as stocks uh start to show weakness in the early hours of the ⁠16:01 ⁠ US session so that s going to be something to monitor throughout the day we re going to take a look at some of the charts in a couple of minutes here ⁠16:07 ⁠ and talk about whether there s any opportunities in the market right now and I m going to be uploading this video pretty much straight after I record ⁠16:14 ⁠ maybe within like an hour to 90 minutes afterwards so the chart should be fairly accurate but just remember things are ⁠16:20 ⁠ volatile uh and they re moving very very quickly at the moment Alex Krueger he is another macro analyst he s had some good ⁠16:27 ⁠ opinions on uh the event events of the last day he said Euphoria and leverage have been largely flushed out from ⁠16:33 ⁠ crypto already which should minimize the downside I m still Max long spot but of partial short Hedges on presumably for ⁠16:39 ⁠ the short term bigger picture unchanged IMO that s the really important thing I don t think this changes the bigger picture only the shortterm the US ⁠16:46 ⁠ economy is in great shape Trump is coming and now there are less Cuts priced into 2025 good luck trading you ⁠16:53 ⁠ can see obviously a lot of the funding in the crypto Market has been wiped out when you don t have really a aggressive ⁠16:59 ⁠ funding and a lot of Leverage in the market this does reduce downside risk slightly versus if we were in froy ⁠17:05 ⁠ territory then you could maybe continue to see 20 to 30% draw Downs I think for that reason the floor is slightly ⁠17:11 ⁠ limited it doesn t mean SS can t go down even more they can maybe go down another 10 to 15% but I don t think we re going ⁠17:17 ⁠ to see like crazy insane draw Downs because a lot of those big leverage ⁠17:23 ⁠ flushes already happened last week and then the last blow essentially happened uh yesterdayCrypto Bull Run Still On ⁠17:29 ⁠ so what I said here is basically summarizing my opinion fomc changes short-term trajectory but it doesn t ⁠17:35 ⁠ impact mid to longterm trajectory of the bull market if you were sideline during the last rally this is a great ⁠17:42 ⁠ opportunity to scale into quality projects you missed we re going to discuss some of them today my opinion ⁠17:47 ⁠ generally speaking is that this is a good dip for buying it s not a dip to ⁠17:53 ⁠ ape into but it is a dip to DCA into and if you are completely sidelined from the ⁠17:58 ⁠ market this could be a a really powerful place to actually start entering especially if ⁠18:03 ⁠ you ve been foming over the last uh few weeks seeing prices rally you can see ⁠18:09 ⁠ the old coins obviously they didn t respond too well let s run through some of them now over the past 24 hours I ll ⁠18:14 ⁠ just refresh this you can see that a lot of the memes are significantly down I think at some point a lot of them were down like 15 to 20% some def stuff is ⁠18:22 ⁠ down just across the board many of the majors are down um not 40% but just 15% some onchain stuff is down 10% ⁠18:30 ⁠ um it s funny cuz a lot of the utility coins which we re going to discuss soon are actually still showing relative strength they re not down a lot but it s ⁠18:36 ⁠ certainly isn t a good day in the market with many alts retracing the gains from the last 3 weeks so generally speaking ⁠18:43 ⁠ to summarize the dip it s basically taken us back to the end of November uh if you look at most altcoin charts uh ⁠18:50 ⁠ with the exceptions of the really really strong ones it s basically taken us back a few weeks in terms of price action now ⁠18:58 ⁠ like many of you might portfolio also got smoked I had a couple coins like for example checks and seol and some of the ⁠19:04 ⁠ utility coins which we re going to discuss actually holding up quite well which helped me soften the blow but my ⁠19:09 ⁠ meme coins mostly were the coins that got smoked and everything in general got smoked whether it was my Bitcoin or my ⁠19:15 ⁠ ethereum or salana everything in general took a bit of a draw down in terms of paper value but what I have learned to ⁠19:22 ⁠ do over the last I guess few years in crypto but specifically this year is actually detach my feelings from the ⁠19:28 ⁠ number on the screen because the reality is your losses and your gains aren t actually losses or gains Until you ⁠19:35 ⁠ realize them until then they re simply paper profits or paper losses so you ⁠19:41 ⁠ can t get too attached to that number on the screen cuz that number isn t real until you actually execute the trade I ⁠19:47 ⁠ even go so far sometimes as to create two net worth spreadsheets so when I evaluate my net worth I have one uh ⁠19:53 ⁠ which is like liquid and one illiquid and the IL liquid portfolio often contains a of my liquid crypto Holdings ⁠20:00 ⁠ just cuz I like to differentiate those two numbers so I don t get too attached to my portfolio doing that has actually helped ⁠20:07 ⁠ me Brave Market situations like this where on a day like today like I I have lost a lot of money significant amounts ⁠20:13 ⁠ of money um that I m actually able to Brave these events a because I ve been in the market for a long time and I m used to it anyone that went through Luna ⁠20:20 ⁠ can handle a 15% correction on Majors however I do think the more you can ⁠20:26 ⁠ detach yourself from that paper number the better because it s just going to make you emotional and that number doesn t matter if your plan is six ⁠20:32 ⁠ months if your plan was to ride this entire cycle if you have a long-term ⁠20:37 ⁠ Market strategy then what happens today is actually so irrelevant I haven t actually refreshed I m being completely ⁠20:44 ⁠ honest here I have not refreshed my portfolio since yesterday I haven t looked at it I ve looked at individual coins but I haven t looked at the ⁠20:49 ⁠ portfolio value because it s not really healthy for me it s it it doesn t make me a better Trader looking at how much ⁠20:55 ⁠ I ve lost or looking at how much I ve made some some days even on the really bullish days I don t always check my portfolio just cuz it s not really ⁠21:02 ⁠ healthy I look at individual positions I look at individual trades but you don t really get any major benefit from it ⁠21:08 ⁠ apart from like oh hey I lost a lot of money oh hey I made a lot of money it s all paper money so just keep that in mind whenever you re getting a little ⁠21:14 ⁠ bit too attached that number s going to go up that number s going to go down that number doesn t Define you that number doesn t really mean anything ⁠21:20 ⁠ until you actually exit uh a trade I did get a lot of text today from retail though uh very scared retailer my ⁠21:27 ⁠ Discord many members were scared and the YouTube comments many members are scared my Twitter comments many people were scared there were a lot of ⁠21:33 ⁠ people that were quite worried I want to read out this text should I hold or sell my xrp and Doge right now I entered ⁠21:39 ⁠ right after Trump election so this is my first Bull Run feel like many people this is their first bull run at least their first experience since 2021 I ⁠21:47 ⁠ haven t seen a dip like this before that s that s an interesting line there because um I ve seen dips way worse than ⁠21:53 ⁠ this even last week although it was short it was actually a bigger dip for many coins in of percentages than this ⁠21:59 ⁠ even but um I d rather get out now than lose my money if it goes down and most people have confidence that it ll go ⁠22:05 ⁠ back up in January I ll hold this Line s interesting I d rather get out now than lose money I think that s the reason I m showing this is cuz this is a really ⁠22:11 ⁠ retail person that messaged me um it s not a bad thing by the way that it s not experienced right they re a friend of ⁠22:16 ⁠ mine that hasn t been experienced in the crypto Market but is getting more involved in the market and uh I think ⁠22:22 ⁠ this summarizes how a lot of retail feels right now which I think is actually valuable context because it ⁠22:28 ⁠ helps helps us understand like why these dips actually happen and it s because a lot of people are now in the market that aren t that experienced and days like ⁠22:34 ⁠ this is where they get shaken out so if you are new please do not get shaken out of an event like this if anything look ⁠22:42 ⁠ at it as an opportunity to scale into high conviction tokens I already have a lot of crypto exposure personally but if ⁠22:48 ⁠ I were completely sidelined right now I d be scaling in like a mad person bull ⁠22:54 ⁠ market dips generally are blessings and you ll probably realize this in a few months you look back on ⁠22:59 ⁠ dips like today cuz you don t get that many of them during bull markets and these are typically the best ⁠23:05 ⁠ opportunities to position the only time that you would maybe not consider buying ⁠23:10 ⁠ this dip is if a you re either ridiculously Overexposed or B you ⁠23:15 ⁠ genuinely don t have belief that the bull bull Market s going to continue if you think this is the end of the bull ⁠23:21 ⁠ then obviously you don t want to buy but if you think like me that this is not the end of the ball then it s a great ⁠23:26 ⁠ buy and I ve been using as an opportunity to add to some positions that either I want to make them bigger ⁠23:33 ⁠ cuz I have conviction in them or positions that I missed and we re going to go through all of those in today s ⁠23:38 ⁠ video I ll never really understand the M the market psychology of the the crazy ⁠23:44 ⁠ fomo that we see on pumps like 8 days ago and the extreme fear on dumps because the thing is you actually need ⁠23:50 ⁠ cheaper entries to make bigger multiples in the bull run the cheaper your cost ⁠23:55 ⁠ basis the cheaper you re able to position the more money you ll make the higher you fomo if you re constantly top ⁠24:01 ⁠ blasting into coins the less money you ll actually make because your cost basis is bad which is going to limit ⁠24:08 ⁠ your gains which is why I always say Buy on Extreme red days this for a bull ⁠24:13 ⁠ market is an extreme red Day by the way and sell or take profits on Extreme green days when you see crazy pumps what ⁠24:20 ⁠ was the most Green Day of of this bull run so far it was 8 days ago that s the ⁠24:25 ⁠ profit taking day and what s the most extreme red day that we ve had in the last month it was today apart from that ⁠24:31 ⁠ liquidation week both of them were buying days if you can reframe your ⁠24:37 ⁠ thinking like that you re going to do a lot better in this market versus fomo the only time you should really be top ⁠24:42 ⁠ blasting a token is if either it s really low in market cap so it doesn t really matter what you re buying at or ⁠24:48 ⁠ if you re a Trader and you have a strict invalidation so you can have a system where you re getting into a trending token sure but you need to have ⁠24:54 ⁠ invalidation for that trade otherwise if you re just buying for your sport portfolio you re putting yourself in an awkward ⁠25:00 ⁠ position because you re taking on a lot of Risk by top blasting a coin now ⁠25:06 ⁠ what s really interesting about altcoins at the moment like Eric Crown points up points out here is that Bitcoin ⁠25:12 ⁠ dominance is potentially making a lower high here so although dominance is ⁠25:17 ⁠ pumping because Al are performing worse than Bitcoin obviously because they sell off more aggressively because they re more risk on this I think could actually ⁠25:24 ⁠ end up being a lower high now yes it could maybe squeeze a little bit above before it puts in a lower high maybe it does it here right but if it does make a ⁠25:31 ⁠ lower high then you can probably expect a lower low and just based on the time ⁠25:36 ⁠ that it s taken for Bitcoin to put in new highs and new lows like for example this move from high to low took about ⁠1825:44 ⁠ days and this move from low to the current level took about 20 days and maybe it takes another 30 days right to

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