Get Ready For The Crypto Explosion: Ethereum to $22K, Bitcoin to $80K

Get Ready For The Crypto Explosion: Ethereum to $22K, Bitcoin to $80K

vanet has put out some monster targets for ethereum by 2030 22k not that big but that’s their base case the bullish case will definitely shock you as will the bearish case we’re going to talk about this and everything happening in crypto and macro market news today I’ve got Alex Tapscott to discuss and of course Dan the chart guys on the back end let’s go let [Music] what is up everybody I’m Scott mker also known as The Wolf of all streets before we get started please subscribe to the channel and hit that like button I hope that all of you are having a wonderful Thursday I was having some tech issues while I was a little late Market’s still looking pretty good here taking a look obviously at coin market cap perhaps we can zoom that in so you guys can see it a little better no we can’t it’s not working there we go Bitcoin trading right around 71,000 right now still up almost uh 5% over seven days but flat on the 24hour pretty much everything flat if you’re looking at it over the day uh but there have been some surprising moves obviously we’ve discussed of late BNB making a new all-time high uh ethereum also obviously catching a bid over the past few weeks we’re going to discuss this and more with today’s guest Alex Tapscott how are you man I hope you’re doing uh doing great it’s been a while yeah I’m doing great thanks for having me back on the show yeah so let’s now my uh screen share is not working so one second I was going to go ahead and uh bring something else up but we’ve got this obvious huge headline Target by 2030 ethereum 22k I think that’s low I don’t know what you think I think that’s low well $22,000 I mean it’s at about 30 800 right now so what’s that like you know 6X 6xx from where we are so 6X of 500 billion is rough math three trillion so basically they’re saying the base case by 2030 is that ethereum will be about as big as Nvidia is today um and I think if you frame it in that kinds of terms it actually makes a lot of sense I mean ethereum has the potential in my opinion to become the most valuable asset of all time this is a platform that today still supports the vast majority of new uh applications and new protocols and networks in web 3 and that’s something I don’t see slowing down anytime soon in fact I think with the addition of high performing layer twos and additional Network upgrades that this network will become sort of the the the Hub around which there are many Spokes and many different implementations and many blockchains but fundamentally ethereum is sort of the anchor of all of it so um yeah look I think the target is is an interesting one I’d like to see what that looks like on annualized you know irr basis we’ve got about six years to get to you know 4X so it’s probably like 70 80% per year type performance but yeah look I mean I think their target is interesting I’d be curious to know what the um what the high-end price was there Scott I didn’t have a I got it for you I got it for you right here it was in my newsletter today here we go 22,000 base case bease 360 you know what the probably zero honestly like yeah why stop at 360 36 stop what is 360 it’s like this thing doesn’t work out you know I I don’t see a 360 but I know my camera’s out having Tech issues but I hopefully you guys can still hear me but the bull case there’re 154,000 yeah yeah I mean I don’t know how they get there I think 22,000 seems like a nice fit um you know it’s it’s an valuation that in the near term is attainable because we can compare it to the value of other leading technology providers and platforms you know you can think of um I think of Nvidia and ethereum is actually being quite similar uh Nvidia is providing the picks and shovels the key infrastructure to unlocking the value of the AI age and ethereum is the platform um on top of which all these new applications and Protocols are getting developed so in many respects they are both underpinning the growth of to me the two most important technology trends of this era okay so the base assumption there is that ethereum continues to have the bulk of the obviously you know tvl AUM and that this is the place where the interest continues to build I’m a huge ethbull I have been through the entire downturn I’ve said countless times I think that the lagging price action is an opportunity not an indictment and we’ve seen it many cycles I mean listen we’ve saw we saw this thing go to 1400 down to 80 bucks and then to over 4,000 right not not that crazy to to see what’s happening but there’s been this argument that everything being built on ethereum will end up being built on Bitcoin which I think is nonsense I think they’re decade behind and that salana is going to eat ethereum’s lunch yeah I don’t see it I mean and I’m not but bearish on either of those other names I’m actually bullsh there’s enough room for for more um you know kinds of platforms to to do well um you know the the question of percentage of tvl like will ethereum be the dominant player honestly I’m not really concerned about that like the the tvl on ethereum at the beginning of the def5 sum of 2020 2021 was 100% because it was the only up functioning platform out there and uh today it’s probably like 60% but in that same period of time the price of eth has gone up you know 5x right so you you can lose market share and still grow in value in in 1919 um Ford was making most of the cars in the United States because of the Model T and by 1929 their market share had declined significantly because there was more competition but the company was way bigger and the reason for that is that way more people were driving cars so if you think more people are going to be using web3 native applications and there can be more developers building you can have a smaller piece of a much bigger pie and end up being significantly more valuable and I think that’s just how people should think about it yeah of course the more compe it’s like Bitcoin dominance when you’re adding I don’t know 500,000 meme coins on salana I know they don’t count in that metric but if you think about it rationally naturally the dominance of anything is going to drop as you add thousands tens of thousands hundreds of thousands of competitors to that total pie but as long as the total pie is growing to your point you’re good to go I mean they they really thought this out very well obviously some of this has to do with the ethereum spot ETFs uh which have be been approved in the 19 b4s but obviously have not launched with the s1s but a lot of people here you go on Bloomberg I love that we’re talking about ethereum on Bloomberg just in general by the way zooming out uh you know if you thought about that in 2016 17 18 19 not even thing doubts about us ether ETF demand Herald tests for second largest token Black Rock Fidelity among issuers preparing to L ether ETFs JB Morgan analysts expect fraction of demand for Bitcoin funds but wouldn’t a fraction of demand for Bitcoin funds be an ex success for an ethereum spot ETF launch yeah I mean I think this point of view that ether ETFs are somehow going to be bad for ethereum is like a classic mid curve opinion it’s like people overthinking things with like too many data points you know the the argument just to to say like what their point of view is is that a demand for ethereum ether will be less than Bitcoin that’s probably true uh in fact we have an example of that like in Canada in 2021 there were Bitcoin ETFs and then ethereum ETFs and ethereum ETFs still gathered tons of money but it was like about 25 to 30% of what Bitcoin ETFs gathered just to put that in perspective Bitcoin ETFs have gathered net 14 billion dollar so like that’s like four to five billion dollars of eth demand if you if you view it as a comparable so that’s still hugely significant but the other point is grayscale has the ethereum trust and the question is you know how much outflows will we see from that ethereum trust and will those outflows overwhelm the inflows again this is overthinking the problem ethereum ETFs are good for ether and I think that we’re going to be surprised to the upside by how much demand there is for this yeah I think everybody just wants to know how to trade it so those metrics start to matter for the first few weeks we saw obviously the gbtc unlock be bearish for a couple of weeks and then as you said once that sort of Supply stopped hitting the market we saw exactly what happen 49,000 to 39,000 to 74,000 right so uh a pretty astounding rise and still seeing record inflows at the moment on bitcoin spot ETFs I think we’re at our second longest streak of inflows dayto day and yesterday or two days ago was the largest day we’d had since March and let’s not forget too that the companies that launch the Bitcoin ETFs are the same companies that are launching The Ether ETFs and the success of these Bitcoin ETFs I’m sure is causing waves inside of those firms half of the entire ETF inflows for Fidelity in 2024 have come from Bitcoin and over a quarter of the flows for Black Rock black rock for their ETF business has come from Bitcoin so you don’t think that they’re going to throw their weight behind the next um product in this asset class their sales team clearly is seeing that there’s a lot of residents with end investors with advisers and even with what these wealth platforms and I think you’re going to see a similar kind of push with ethereum when it comes to Market and I still think ethereum is one of the most hated sort of assets from a investment perspective I’ve been saying that for over year like I want to be in the thing that has a fundamental use case that seemingly nobody wants to get on board with yeah exactly I mean I think look I mean I’m a big fan of salana um and salana has captured the Zeitgeist I guess in this cycle with with some of these you know Meme coins casino but yes I agree look there’s a gambling is a big business um and and obviously Bitcoin is the you know the mother of all cryptocurrencies um its base case as a store of value as digital money for the digital economy I think is really compelling and then you throw on top of it the potential for Bitcoin to act as a protocol and platform for new apps I think that’s great too but in the middle is this thing as you point out that seems to be kind of overlooked somewhat um and yeah I just think we’re going to see see the most hated rally of all time in ethereum in 2024 I mean you can even see hints of it when it first did that 30% bump on the news the surprising news that the ethereum spot ETFs uh were likely to be approved you talked about sort of the [Music] prerational other blockchains we can do all this on layer one I mean do you think we get to the point where that layer two complexity is abstracted away because still kind kind of difficult with the bridging and understanding it and opening the wallets and I I just don’t think your average person still can use ethereum in a cheap way I think most of them just pay the high fees because using the layer one is more natural yeah I think that the layer two thesis is actually very bullish for ethereum some people were concerned that you know with the launch of layer twos that one or two layer twos would become dominant and then all of a sudden there’s a network that allows you to settle transactions maybe that thing actually usurps ethereum right the layer two becomes a layer one and some of this is sort of semantics but I think that that concern is no longer really one that people should be focused on if you look at the layer two world it’s highly fragmented um all of these different um layer twos you know are vying for um transaction volume and and um you know user attention um but there’s no single one that’s sort of like ruling them all so to speak um and I think that that’s very good for ethereum because it treats ethereum as is sort of like the base settlement layer for this entire ecosystem and again like that’s something that I’ve been talking about for for many many years you know you can think of ethereum is kind of like the the electrical grid for like a big city the city’s called like web 3 toown or something and um these different layer twos are sort of like substations that regulate the flow of electricity on the grid make it more efficient you know um make it you know more localized but fundamentally you know the bigger the city gets the more valuable the electric utility becomes and I think that we sometimes lose sight of the fact that underpinning all of this is the ethereum network yeah I I agree as a base layer Network it makes ton of sense I don’t think any of those usurp it either there’s a huge story today that is not getting the attention I think it should be Robin Hood to buy crypto exchange bitstamp and effort to expand outside the US so a it’s huge from the perspective that Robin Hood is clearly making a major commitment to expanding in crypto I’ve heard rumors uh of them buying a lot of other Trad five businesses on their radar as well that are crypto adjacent but I I can’t really get into those until they’re fact but Robin Hood is on a mission right now to build a full Suite of services for all assets that’s all I can say h both institutionally and in crypto but I mean bit stamp bit stamp is the exchange for Bitcoin historically this is the one where everybody sort of said the whales were always if you want to know what the whales were doing check bit stamp right you want the bit stamp Bitcoins even SPF once told me that in the podcast sadly but but um you know expanding their footprint outside the US with one of the biggest names in the business over time only $200 million which I was a bit surpris cash only I thought it’ be a much much more valuable deal yeah yeah I sorry not to interrupt I just wonder what the what the metrics are for that business like I gota assume it’s it’s very very profitable um so yeah maybe you know there’s a way to scoop up private um you know profitable crypto asset platforms for pretty reasonable valuations and so it makes you wonder what other companies what other public companies with the currency to do that uh the ability to tap the market and raise cash or maybe use their stock um might be interested in you know acquiring other kinds of businesses you know I think the big the big question though is not when will uh what’s the next crypto exchange to be bought by you know a a millennial and gen Z facing wealth platform like Robin Hood but when is the major financial institution going to buy one of the big exchanges right like is there a case that um you know a Morgan Stanley or a JB Morgan or you know one of these big firms should buy you know a coinbase I think the odds are pretty low in the short term of something like that happening um but you know you have to wonder if if U you want to get exposure to a hundred like a 100 million verified accounts in the case of coinbase maybe more 110 and um a platform that you know is the dominant sort of regulated entity um it starts to look kind of interesting um I don’t know anything I’m just sort of completely speculating but um I think that consolidation is something that we’re going to start to see a lot more of in the next little while yeah I mean I think that also there’s an Institutional angle here European institutions to my understanding largely trade on bitstamp so I even beyond the the the volume you know on a day-to-day basis or how many retail Subs uh you know uh customers they have this has long been the place that European hedge funds and institutions go to trade Bitcoin specifically yeah it’s a big Market there’s a half a billion people there and a lot of you know funds and other firms that you know eventually are going to need an on-ramp and a way to to transact in the asset class yeah so do you have any other things that you’re watching really closely here I know that you’ve had your eye on Bas when we were talking about layer twos I think obviously Wall Street on the radar and then of course the I would say thawing of us political anger towards the crypto industry for for you know for various reasons I mean I’m really getting into one of those places where I find it hard to see the massive bearish case I can see why people are cautiously optimistic with Bitcoin at this price and things having pumped but it seems like nothing but Tailwinds to me yeah I mean I think we had historical um headwinds and the aftermath of FTX and then sometime sort of mid last year that started to switch um it started with the uh you know federal judge striking down the SEC case against grayscale and then eventually with ETFs and I think that by sort of the beginning of this year the whole environment was balanced I wouldn’t say it had turned positive but I think it was sort of neutral and so the industry was able to sort of grow on its own and now it appears as if um things have turned from headwinds into Tailwinds now I think that the you know the much heralded uh reversal by Biden and others is probably overstated um I reversal it’s a uh let’s not talk about this so negatively and so outwardly that it hurts us with voters who knows what’s going on behind the scenes completely but there’s clearly been a tone shift and that that part is undeniable you know the fit21 bill um I know that some people have taken issue with some of the specifics but in my opinion it’s very significant that the House of Representative Representatives voted in a bipartisan manner on a bill that would sort of limit the the the ability of the SEC to um you know try and regulate the whole industry and create sort of divisions of labor and also make it easier for companies to set to to domicile and build you know lawful web 3 businesses in in the United States I think that’s very significant um and obviously that hasn’t become law yet but the fact that Biden said he wouldn’t veto that I think is also significant so um it’s an interesting question to ponder which is you know does this change of government tone signal that the us is going to now really dominate this next era of the web because up until now web three businesses had succeeded in the United States not because of government support but almost in spite inite of it um but you know the the states I’m Canadian for your listeners you know we look I I and I’ve lived in the US before but you know you look at the US you’re like look you know the biggest Common Market the biggest VC industry the most technology workers you know the best uh computer science programs at the most prestigious universities you know I’m not trying to blow smoke but there’s a lot of good stuff going on that allows things to to thrive right especially around Innovation and Entrepreneurship but then you know you got to have a government that’s if not supportive at least is sort of neutral right calling balls and Strikes and uh I think now we have uh more visibility into what that position might look like so that where does that leave the rest of the world well a lot of countries had tried to use I guess the the vacuum that existed in the states as a way to to basically hang a shingle and say we’re the place where you want to build right so if you look at the UAE in Dubai or you look at you know the United Kingdom and the Prime Minister um Rishi sunak talking about you know making Great Britain a web 3 capital and if you look at Singapore and I was just in Japan uh sat on a panel with one of the ministers a minister for web 3 and AI that is his official I mean yeah imagine having that in the United States these things don’t exist right so are and and you know it’s like Japan’s thinking um you know web one look they didn’t build a lot of internet companies but they did have a lot of hardware and they dominated you know in a lot of respects there Web Two they basically completely missed it right like if you think about all the big um you know multi-trillion dollar companies that got developed and built in the web uh two era they’re all American and some of them are Chinese right so they’re thinking okay web 3 we got another kick at the caner how do we make sure that we can uh get ourselves back in the in the game so where does it leave countries like that if the US is changing its tun I think it’s too early to say but I think I think it’s probably put people on notice Yeah we actually have some metrics that align with sort of our assumption here us reclaims crypto crown on bitcoin ETFs Trump rise and polls you guys may remember actually that the South Korean wand last year took over in a big way for the main currency used to trade crypto we know that uh we had obviously this fear that yes was going to crack out and everything everyone was Los leaving the United States well now the dollar is once again the dominant crypto used to trade largely because obviously of these ETFs and volumes Rising price going up but this is pretty significant this shows exactly what you’re saying that the money is where the mouth is so to speak yeah um the money yeah the money is where the the people are spending it um you know I mean I’m shocked that the US dollar was ever not the main trading pair for this asset class because it’s obviously what people in the states use but it’s also you know the global Reserve currency um remarkable data point Scott yeah yeah I have a great comment here does it matter that ethereum is centralized has an inconsistent monetary policy and had an unlimited token supply of course these failures matter why is everyone ignoring these failures and of course grifters ignore the failures if there’s money to be made love you guys hot um what’s your what’s your point of view on that you want to take one uh listen I think that uh a once you get an ETF all of those things to your average retail investor institution to Wall Street to Larry f Etc are become irrelevant I think if you are a bitcoiner and you’re viewing ethereum as a direct competitor to bitcoin using the same metrics in comparisons it does not add up to bitcoin for those reasons but that doesn’t mean it can’t work as a Bas layer platform as you disced as money as money I think that is a very very good and eloquent Point yeah as a platform it doesn’t matter and I don’t think ethereum has ever been competing with Bitcoin to be hard money even though we have the ultrasound money people I know there are these ultrasound money people I mean like you know does does Apple or Nvidia or Microsoft have an ultrasound monetary policy like no they can issue stock they can buy back stock um you know you know it’s a different set of of uh conditions in that case it’s a management team and a board of directors approving it and in the case of ethereum it’s um you know from Network upgrades but even still like I don’t think anybody was talking about ethereum as digital gold or ultrasound money ethereum is fundamentally a technology platform and if it’s useful and people build on it then its value is going to go up um you know or it’s likely to go up I should say and um those are the signals that I’m following I’m looking at you know where’s the developer activity where’s the layer 2 activity like and and where are the most interesting applications in areas like you know dpin or decentralized AI or defi or whatever and and I just keep coming back to ethereum so those are the things that I’m interested in at this point and you know like you can own Bitcoin and ether I just don’t get it it’s like it’s okay I was just gonna say I I always liking it to and I have in the past maybe now Nvidia is the better coraly than Amazon but I used to joke that uh bitcoiners who make these comments about ethereum remind me it would be liken to a hardcore gold bug being triggered every time someone bought Nvidia stock they just have nothing to do with one another you can be a gold bug and believe that that’s hard money and still invest in the stock market fine well yeah absolutely yeah and so that that’s always what copy listen we got one minute left anything left I might have missed that you want to add yeah no I mean Scott it’s great to to catch up again it’s a very exciting time obviously um you know the things that that I’m interested in are not only you know the crypto prices though that matters matters for for investors of course but also better for titles man it’s better for titles I’m sorry we got to get them here somehow but also you know how uh blockchain and crypto assets are intersecting with with other Technologies and honestly I think that’s the thing that that um is going to define the next era you know I wrote in my new book web 3 charting the internet’s next economic and cultural Frontier how it’s the convergence of blockchain and Ai and extended reality and Robotics that I think is going to help to redefine you know business culture and society and to me that’s um something that can only happen if these technology platforms can scale and and reach their potential yeah totally agree man thank you so much as always happy to have you great perspective uh look forward to doing it again soon in the very near future man everybody give Alex a follow on X it’s uh his his tag down below thanks Alex thank you yeah take care Scott I see it’s so funny your comments Fred Fred Krueger needs to cope yeah he that’s one of the uh hardcore Maxis nothing against the guy but man he said uh he said I was a repulsive once he had a actually let me find the tweet this is I guess is is a pretty good example um of the kind of seething that Maxi tended oh I found it amazing you guys might remember that I had R Paul on uh and we talked about meme coins and I was actually being very critical of meme coins in the video saying it was a casino I didn’t support it I didn’t like it but I said that you can’t ignore the fact that they’re bringing tvl to the chain I actually said it was likely whale manipulation that were launching a lot of these tokens to bring more money to salana to move the price up which is not a positive Ral p and Scott milker two grown men discuss how meme coins give value to chains like salana they represent a fundamental Revolution for people who are tired of playing the old game and then goes on to say things like I’m more repulsive than ra quite a lot F things but yeah these guys are the most easily triggered human beings in the world and honestly I’m here for it at this point I just get in these moods sometimes where I want to poke The Nest it’s really fun it triggering Maxis and watching them see uh is I mean it’s it’s probably like a top three activity in my life because I used to kind of be one of them before I bring on Dan I want to remind you guys that uh on the round table I broke this down for you guys two days ago since we can’t uh I can’t really engage with your comments on YouTube it’s impossible because it’s 9,000 scams and people telling you to buy a trading course or something like that uh you can go it’s in the description says to comment engage there’s a link and we can discuss on the round table where you have to be a registered human being and you can’t be a bot and So I responded to everyone’s comments on Tuesday it was really fun to have the engagement with you guys you can do that um Fred krer not a guy You’ let babysit your kids uh I mean he is the uh horror guy from Nightmare on Elm Street right the guy’s name is Freddy Krueger we got that going for me I’m sure he’s a wonderful guy I know he’s like friends with James lavish but uh just a perfect example of the easy triggering I’m sure now somebody’s GNA send this and I’m going to hear about it but whatever that guy all right all right I’m gonna go ahead and bring on Dan CH guys ethereum to 22k by tomorrow what do you think yeah it’s a lock it’s a lock by tomor obviously obvious yeah no I I like I like the conversation you guys are just having because it makes a lot of sense and it’s just it it one of my pet peeves is people that are so tunnel vision for just one thing there’s only one when in reality you know managing your wealth and diversification there’s there’s so many different ways to play market and uh yeah you got to you got to be open to things evolving and changing yeah I mean but there’s only Bitcoin and if you don’t live in a cardboard box then you’re not spending all your money on bitcoin and saving it forever to never sell and you’re going to get kicked out of the club that’s the other one that really gets me it’s like oh you know you should never have a house so you should put it into Bitcoin and I’m thinking about all the experiences I’ve had on my land and my property with friends and family and it’s like that makes absolutely no sense you oh you like fun you like fun and dude you’re you’re you’re you’re kicked out I’m sorry but uh yeah happy birthday by the way somebody said happy belated birthday I didn’t know it was your birthday so that makes me a bad friend but happy belated birthday right there and let’s take a look at your charts Let’s uh take a look at what’s going on here in this market we got Bitcoin obviously pushing towards that all-time high few percent yeah we’re uh in a good spot you know we’re almost at two-month highs and even if we fail this go around at 72 we’re just going to be looking for a daily High high low and then we’ll be talking about the possibility of a cup and handle so uh there’s there’s no red flags at this point we’re extremely strong and you know all-time high is looking pretty good new base of support and just patient you know it might be a little bit more sideways but uh a good start to the week that’s for sure how do you like my stripes that are my face now very good I hopefully you still hear me guys we’re gonna roll with the stripes I can’t get the camera to go back on it’s been one of those days yeah I mean I think Bitcoin looks great here but still ranging like if it’s trading consistently below 60 I’ll be a little worried if it’s trading consistently above 74 I’ll be really excited right now we’re just going to get really euphoric because we’re in the top half of the range y that’s exactly right and onto ethereum uh sideways consolidation nothing wrong with that after the huge move up you know so often we see a pullback of consolidation 50% retracement or whatever so nice to be consolidating at the top of that range but as we’ve been saying for a very long time it’s all about eth BTC can we confirm the first weekly uptrend in years to tell us this time is different and that’s going to be the the story for me and June in crypto is does ebtc confirm this weekly uptrend we’ve been waiting for months and months and months so many failures is this the time it’s different and you know I’m watching these EMAs they’re EMA 12 and 26 if we pull it off they’re going to cross bullish for the first time in over a year and so uh that would be a significant enough shift to say it looks like a long-term bottom is being set yeah it’s so annoying every one of these pumps if you take a look at that chart goes right into that line and just dies a miserable death for years yeah well I mean you know no better reason for this to be the time that’s different than the ETF and obviously if we had actual ETF inflows that would make us a lot more confident now it’s just a waiting game and yesterday guinsler saying you know a couple comments about it that maybe it’s going to take a little bit more time than people are hoping for but again it’s just a waiting game at this point and maybe it takes a few weeks maybe it takes a couple months but uh it’s nice to know that it’s it’s coming down the pipeline yeah I’m hoping it’ll be a uh not an immediate sell the news event but in the long term as Alex said I think you can’t be anything but bullish on the existence of an ethereum spot ETF see how it can hurt yeah for sure so what else are you watching as we sort of like consolidate sideways here on bitcoin so obviously binance we talked about this about a month ago and it’s just so you know it’s so boring and this is how markets work you just tighten and tighten and tighten and then in the span you know I made a clip last week saying within two days when this range breaks within two days everybody’s going to be talking about binance because it happens so fast when it happens and you get you know three days of opportunity exceeding any of the opportunity in the last you know two months and that’s that’s a one of the benefits of technical analysis even if you think it’s you know Voodoo whatever it can tell you when to start anticipating because volatility is coming when ranges get this tight and if nothing else it’s an extremely useful tool for that and so you know binance is doing it thing and of course when we hit Blue Sky breakout we use back burners which is just first oversold conditions here’s you know first 15minute oversold since alltime highs leading to 3% plus next we’ll be looking for first hourly oversold eventually to be looking for a dip buy that’s not close to happening but we know it’s why I call it a back burner it’s put it on the back burner that trade will come to us eventually and so that’s the next one to be watching is hourly oversold on binance but uh yeah it’s just blue sky breakout and it’s always a good thing when a major name is hitting Blue Sky breakout because it all you know Rising tide raises All Ships and sentiment it’s only a positive that that uh sort of tightening consolidation there you know it’s like a just looks like a series of slightly lower highs and slightly higher lows as it I mean that kind of reminds me of what I anticipate with Bitcoin whenever this finally happens right this sort of I can’t tell really I don’t know how long that was less time I think that was only March but like if we do this for four or five months in Bitcoin and just kind of tighten up you know of course I could be down but that’s what I’m looking for after any sort of post post having in the cycle and and it happens you know this is two months but we’re seeing the exact same thing on eth you just zoom in and it’s the same thing just on a shorter term time frame and so these patterns happen so consistently just on different time frames and I love the ones you know I’ve been getting into looking for them on monthly charts and you know we were talking about ccj and uranium for a long time over the last year and it did the same thing here look at this monthly chart that’s an entire year of tightening and then it’s go time and just seek out the tightening patterns and watch for their breaks yeah what else are you looking at so I want to talk a little bit about just the the perspective of the broader Market we know nvda is running the show now and you know I know we got mostly crypto viewers so I’m going to do some analogies but essentially the the way I view the market from a a zoomed out bird’s eye view is nvda is leading the semiconductor sector obviously semiconductors are leading the NASDAQ the NASDAQ is leading the S&P 500 it’s this it’s this game of of relationships and what you want to see happen to stay strong in this market is essentially you know let’s say the NASDAQ is like Bitcoin and we know in the most bullish crypto environment Bitcoin leads and then it you know consolidates Health Elite and money rotates into the altcoins the broader Market it’s the NASDAQ is Bitcoin and iwm is altcoins it’s all the smaller companies and it’s been significantly underperforming it’s doing the same thing as altcoins right now the broader Market’s performing beautifully why is iwm not breaking out same thing Bitcoins performing beautifully why are these altcoins not breaking out and so the best case is when nvda sees weekly consolidation next which will be inevitable at some point does iwm confirm this little weekly cup and handle attempt if that happens best case scenario markets are just fine that’s the perfect rotation so you know if you’re watching crypto keep an eye on the stock market as we know NASDAQ and S&P 500 sentiment does have an impact on short-term price action of Bitcoin it’s definitely worth paying attention to but uh watch for that rotation because that’s when you know it’s just another big check mark for the Bulls Yep this is ideal scenario and I don’t have anything to worry about if this is going on and that’s what I’m looking for here in June next time nvda tops out does that money rotate to these weaker places for them to get their leg up yeah makes perfect sense uh and a perfect sort of comparison to the crypto market for people who don’t understand I was you I was I remember everybody was super bearish on IW down there at the bottom at support it was over it was what it was breaking the range lows and it ended up just sweeping those lows and heading up so and now you can see it’s sort of broken out and is above so that’s exactly what I would look for is what you’re what you’re just guessing yeah and it’s it’s you know right now right now iwm is the weakest it’s been compared to the S&P 500 in a very long time here’s iwm and again it’s the same thing as these alts divided by Bitcoin but iwm divided by spy I mean we got to go back decades for it to be this week so again watching for uh that rotation to try and cool this chart off a bit but it requires patience because you know I’ve been watching for this for a few weeks at this point and it’s just uh not happening yet and so it’s no guarantee but it is something I’m watching for in June absolutely you got anything else I think that’s all of them you got up there right that’s it yep all right man well once again happy birthday Everybody follow CH guys for a birthday present here should get uh I don’t how many people we got here but we get about 1,000 I’ll assume some of you are okay 850 is new followers right now for his birthday if you don’t go follow him and uh subscribe to his YouTube then you have not wished him a happy birthday officially man thank you so much um still disappointed that you uh live on your land instead of living on your Bitcoin but I’ll get over it by next week all right Scott have a good one thanks awesome all right guys once again I just want you to go check out the the round table something I’m pretty passionate about I hope it works uh we’ve got like I said myself George from cryptos R Us and the altcoin daily guys and Mario nul we’re all going to be actively using it making content for the street which is part of it it’s gonna be pretty awesome gonna be pretty awesome um I think I’ll just go trigger Maxis for the rest of the day I did just send a tweet uh because I’m so add while we were talking that said would anyone like to join my new band it’s called seething Maxis and all of our songs are about shitcoins honestly I could have crafted that tweet better if I had had more time and I wasn’t focused on Dan’s amazing analysis um yeah I mean yeah if your house isn’t remortgage you’re not a real Maxi if you haven’t taken out a third mortgage into Rising interest rates not a real Maxi you don’t count you don’t count anyways guys that’s all I’ve got I will have Market Mavericks this afternoon with Gareth Solway and Mike McGlone I can be the lone bull amongst a what what is a group of bears called Clan Pride what are they um I don’t know but I’ll be there um love those guys fun to be the bull in the bear party and we need varying opinions and it’s awesome so that will be at 3M Eastern Standard Time and I’ll be on X spaces in 30 minutes with Mario and ran go check out Round Table in the description that’s all I got for you guys it has been real peace let [Music] let’s go

What are the chances Ethereum makes it to $22K? According to Van Eck – pretty high! As for Bitcoin – the price ranges from $80K in a few weeks to $100K closer to the US elections, doubling to $200K in 2025. Are these numbers realistic? Alex Tapscott, Managing Director of the Digital Assets Group at Ninepoint Partners, and author of the best-seller, Blockchain Revolution, is coming to my show to discuss it. In the second part of the show, Dan from The Chart Guys will share his market analysis and some trades.

Alex Tapscott: https://twitter.com/alextapscott
The Chart Guys: https://www.youtube.com/@ChartGuys

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#Bitcoin #Crypto #trading

Timestamps:
0:00 Intro
2:00 $22,000 for Ethereum
8:00 Ethereum ETFs
10:45 Layers 2&3
12:40 Robinhood buys Bitstamp
17:15 Fit 21 bill
20:20 US is a king of crypto
22:15 Sound money & competition
27:00 Dan’s birthday!
28:15 Bitcoin chart
29:10 Ethereum chart
30:50 BNB
33:10 NVIDIA
34:12 IWM
35:50 Wrap up

The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to “Buy,” “Sell,” or “Hold” an investment.