Crypto

hey everyone me kevin here we got to do

a quick crypto update because this is

crazy right now

ethereum is sitting at 3030. we finally

broke 3k again and

btc is almost over 43 000 which we did

touch yesterday

but we've been bouncing off of 43 000

over and over and over again

but ethereum nice push straight through

and i wanted to talk a little bit about

what the heck is happening

why this is potentially happening so

first we know everything

plummeted during the grayscale bitcoin

trust lockups

the biggest one that we had ever seen

before this is why i made a video on

this channel

this is why you got to subscribe made a

video saying investing in crypto

mark this date and it was july 18th why

because take a look at this bitcoin and

it's probably gonna be like reversed or

whatever

but this line right here is july 18th

that is the largest amount of lockups at

the grayscale bitcoin trust that we've

ever seen now remember the grayscale

bitcoin trust is basically a way for

institutional investors or exchange

traded funds

to hold cryptocurrency for example kathy

wood in her arc invest

she can only hold crypto in things like

the grayscale bitcoin trust

because the grayscale bitcoin trust

ownership in that represents a share of

ownership in this trust which just

happens to hold bitcoin

but the sec doesn't allow you to

actually hold crypto

assets inside of etfs yet

so this is kind of like your classic

back door but anyway so we had this

massive lock-up agreements which

potentially potentially

also led to somewhat of a of a short

squeeze we know that shorts have been

skyrocketing over the last few months

uh with the exception of really the last

three weeks and so it's not a surprise

that right now

and again i know this is inverse so oh

well uh anyway

we've been going straight up here on the

day chart since

and it's not a surprise right here is

the 18th

lockup occurs then you get a bit more of

a dip just depression a little bit more

as people now have

that ability to sell next couple days

they sell boom

lock up expirations over people have

gotten out up up

up up up up up up up up up up up it's

straight up it's absolutely incredible

and the same has really been true with

bitcoin though bitcoin has had

a little bit of a bumpier ride and

that's partially because ethereum's

latest

fork has gotten people pretty excited

about this ethereum upgrade

it's pretty big and folks now they're

potentially well they are

they're burning coins which was crazy

about that

uh the goal is to stabilize prices and

ultimately reduce fees at the same time

there's going to be this burn element

and and folks are now looking at

ethereum's oh my gosh now all of a

sudden rather than just having a limited

supply

we're actually burning supply and crypto

people just love that idea

and solely because of ideas like this

you can get traders that trade off of

that and we know that 63

of trading volume in let's say bitcoin

is trading activity

and institutional investors are all over

this there are more institutional

investors trading money than there are

well

i should say there's more institutional

money than there are us with money

investing or trading crypto assets which

is mind-blowing right now

but but that is helping lead to the

skyrocketing right now in addition to

what we talked about

yesterday which yesterday we talked

about oh man potentially overheating

economy

jobs report coming in like crazy on top

of the jobs report coming in

crazy high at 943 000 jobs which was one

of the two precedents for potentially

moving to

a taper faster and sooner well

now we just need to wait for next

month's jobs report which is right when

unemployment benefits expire

we expect that one to jump up and if

that one's at

800 900 or a million jobs

we're probably going to be looking at

tapering as soon as the end of september

or october

and we might be done tapering before the

end of the year and you know right now

they're saying oh we're moving up our

target for raising rates

to somewhere around the end of 2022.

well if we stay on this path or if

crypto ends up

well not crypto sorry delta ends up

crippling supply chains

uh and component chains and a labor

options even further

then we're just gonna be setting up for

even more of an inflationary push which

is gonna be a boon for crypto i already

have believed that 2020 would be the

year of crypto i've been saying that for

months on this channel

i've been buying uh you know some i

they're more like slight they're more

like nibbles what i've been doing

uh which i i i always try to put this in

the scale let me put it this way

uh crypto right now is maybe about four

percent of my portfolio uh when i enable

i'm doing like 30 40 000

at a time i know that might sound crazy

i'm sorry about that that this just is

what it is

so uh we've got about you know 20 22

right now sitting in the markets

so uh that gives you sort of a scale

about four or five percent of that

uh depending on the pricing the pricing

today is uh

is is crypto uh bitcoin ethereum and uh

ada cardano

i really have a lot of hope by the way

for either ada cardano or ethereum

being the basis for how government sends

paces uh the payments to people in the

future

uh you know i'm not sure maybe they'll

do their own stable coin like the usdc

the united states uh or the uh uh not

usdc that's an existing stable coin

sorry

cbdc central bank digital currency like

a fed coin or something like that

that might end up taking over but i

think they'll use architectures or maybe

even build those coins

on top of either an ethereum or like a

cardano network

we'll see we don't know that's

speculation uh i

i and under this sometimes hurts uh

bitcoin maxis

i don't see bitcoin becoming

like maybe it'll become a currency

certainly it should be it should be a

currency in developing countries

but for developed countries with

generally

longer run deflationary trends i think

countries

whether they're in europe or canada or

the united states

japan i don't see them ever giving up

the ability to print money

even if that just means digitally

creating some more uh you know cbdc

central bank digital coins

uh currencies so i i don't see bitcoin

taking over

as a monetary instrument for these a

larger developed nations developing

yes because nobody trusts uh in many

developing

countries i shouldn't say nobody but

many people don't trust their government

and i understand it's like wait kevin

i don't trust the fed i don't know i

don't trust the u.s either yeah but

but you trust the u.s probably more than

you do like

zimbabwe and currency right so anyway uh

that's sort of the point is what of of

you know

my math teacher always used to say

because she would say all right what was

your favorite math problem people would

always say well i hate them all it's

like okay

well which one did you dislike the least

same thing with crypto

with with countries and and their um

their currencies

so i don't believe these developed

countries who

have um deflationary trends and we're

talking about

800 000 year trends i'm not just talking

about like oh

maybe you'll have a little deflation for

a couple years no no like there's a

reason we're at zero rates

there's a reason europe's going negative

and they're a more mature economy uh

we're we're probably going negative two

and long right now we might have bouts

of inflation coming up over this next

year here

as we already have and i think delta is

just going to make it worse but

these are important things to watch oh

wow crypto uh bitcoin just shot uh now

it's sitting at uh 43

4 and uh ethereum at 30 i'm sorry

3067th this is good folks i'm really

really excited

uh for this move uh you know the next

lockup agreements which is worth

mentioning ada by the way sitting at

144 right now in our next resistance

level potentially support line

at 150 oh no i'm sorry i have not drawn

a line here this is my

max volume sitting around 155 but anyway

the next lockups which again i i know

this chart looks funny because it's

probably backwards but this right here

was the 18

and then if i go over here the next one

which is like one-fifth the size of the

other line

is right here and it's august 11th

with a little bit starting uh actually

august

7th 8th and 9th but these are tiny tiny

little numbers here

august 11th is a big one and then we've

got august 17th

and that's it folks that's it so

you know i mean i'm sure there there

will still be ups and downs in crypto

but uh boy oh boy right now this is uh

this is exciting uh and so make sure to

subscribe especially if you

if you nailed it on that july 18th date

or you wish you did make sure to

subscribe

like these videos let me know what you

think in the comments down below i'm

always open to

reading your feedback and i always do i

want to know what you all think what am

i missing what am i getting right

i want to see your comments on that uh

and that way in the next video i can

always clarify in the event that i made

a mistake which i'll always admit if i

made a mistake folks

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