WEBVTT - Cliff Notes: HOW LOW CAN BITCOIN FALL? & XRP UPDATE

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<v Speaker 2>I've been calling bigco hit twenty thousand, so so was

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<v Speaker 2>that like fifty five If Michael Sailor gets margin called,

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<v Speaker 2>what effects could it have on the broader market in

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<v Speaker 2>terms of crypto and what kind of like contagion level

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<v Speaker 2>event could we expect for those who like retail investors

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<v Speaker 2>in it.

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<v Speaker 3>Well, the eighty five percent drawdown number is ten thousand,

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<v Speaker 3>three hundred, and that's the dirty number that we've been saying,

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<v Speaker 3>and people don't like hearing that.

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<v Speaker 4>And I made a tweet on Twitter. It's my favorite

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<v Speaker 4>place of tweet on Twitter. We made that joke.

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<v Speaker 3>But I made a tweet back in January and I

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<v Speaker 3>got crucified for it. I said, if you don't think

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<v Speaker 3>bitcoin can go below twenty k, then you must be

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<v Speaker 3>new here pepre like what an idiot bottom is in.

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<v Speaker 4>You know, price is.

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<v Speaker 3>Definitely going up now when you've got the YouTuber saying

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<v Speaker 3>that it's not so funny right now, is it? And no,

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<v Speaker 3>and you know we have been Twenty two thousand is

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<v Speaker 3>a very important number because that's where the two hundred

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<v Speaker 3>week moving average is, and when you look over time,

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<v Speaker 3>it's always.

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<v Speaker 4>Hit the two hundred week moving average.

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<v Speaker 3>It has wigged down to the three hundred week moving

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<v Speaker 3>average before, which I don't quite know what that number

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<v Speaker 3>is off the top of my head, but twenty two

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<v Speaker 3>thousand could be a potential for a bottom. But we

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<v Speaker 3>targeted twenty four thousand, five hundred would kind of be

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<v Speaker 3>the first level and now he pierced through that. Now

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<v Speaker 3>we're looking at twenty two thousand. After that you go

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<v Speaker 3>to the psychological level of twenty thousand. After that strong

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<v Speaker 3>support at seventeen thousand, then you have fourteen thousand, ten,

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<v Speaker 3>and then under fourteen. Now you're going down to ten

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<v Speaker 3>and then after that, like all bets are off the table.

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<v Speaker 3>So the answer to your question is, I'm not worried

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<v Speaker 3>about Michael Sailor if the price gets to twenty one thousand,

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<v Speaker 3>which is a margin call point, because they're.

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<v Speaker 4>Going to add more collateral.

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<v Speaker 3>You know, they can add more to keep from actually

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<v Speaker 3>getting liquidated there, they can add to their position. I'm

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<v Speaker 3>much more worried about Michael Sailor if the price does

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<v Speaker 3>drop down to ten thousand. And when you look at

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<v Speaker 3>what the attack, that's Citadel. I do believe some people

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<v Speaker 3>are saying, oh, you know, it's not actually true. Citadel

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<v Speaker 3>and Black Rock are the ones that moved against Doaquon.

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<v Speaker 3>They moved against absolutely, There's no question about it. Who

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<v Speaker 3>else got that kind of money and power to do that?

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<v Speaker 3>So they went after do Quon, they went after Terror Luna,

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<v Speaker 3>they went after Ust And I'm kind of afraid that

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<v Speaker 3>right now, we are start, We're gonna see any vulnerability

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<v Speaker 3>that exists out there in crypto. These people are going

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<v Speaker 3>to be attacking. They're gonna expose them. And the truth

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<v Speaker 3>is they need to be exposed because if you have

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<v Speaker 3>a big vulnerability, it's always going to eventually get exposed. Well,

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<v Speaker 3>let's go into it now while we're in the bear

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<v Speaker 3>market and get it over with instead of stopping a

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<v Speaker 3>big bowl run down the road. But I think when

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<v Speaker 3>you look at Michael Sailor what I'm a little concerned about,

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<v Speaker 3>and I like, like, I'll be honest, I know I

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<v Speaker 3>so somebody said I think that y'all are gonna go

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<v Speaker 3>after Michael Saalor or some some point. I like him personally.

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<v Speaker 3>I think he's genuine. I think he really does love bitcoin.

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<v Speaker 3>I have said before he's newer, so there's been a

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<v Speaker 3>little naiveness as not being through a full market cycle,

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<v Speaker 3>which he's experiencing now. But I'm a little concerned that

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<v Speaker 3>people with much bigger pockets than Michael Sailor are going

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<v Speaker 3>to find whatever that number is that he can't add more.

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<v Speaker 4>To that position.

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<v Speaker 3>Some people are calling for seven thousand or thirty five hundred,

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<v Speaker 3>like these are numbers people throw out there. I don't

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<v Speaker 3>think we go that low, but I'm I'm more nervous

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<v Speaker 3>about someone directly attacking that number to push it down

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<v Speaker 3>to liquidate him. So I don't know what the number

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<v Speaker 3>is that he couldn't bear anymore, but that's probably what

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<v Speaker 3>they're going.

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<v Speaker 4>To talk calculation.

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<v Speaker 2>The number is ninety eight and fifty six.

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<v Speaker 4>That's so close to ten thousand, three hundred.

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<v Speaker 2>It's like where they woul knock them out. Yeah, I

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<v Speaker 2>truly believe when I said it with Kathy in twenty twenty,

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<v Speaker 2>anytime we have any superstar investors, it feels as if

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<v Speaker 2>the top institutions wants to knock that person out of

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<v Speaker 2>facially and they begin aggressively attacking their positions. I hate

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<v Speaker 2>that he's just the next one that got caught up

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<v Speaker 2>in that. Why do you think a lot of retail

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<v Speaker 2>investors don't believe technicals don't matter in bitcoin or crypto?

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<v Speaker 4>Yeah?

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<v Speaker 3>Well, I think that it's just data rights, it's the

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<v Speaker 3>length of data that we have. But when you really

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<v Speaker 3>look at technicals, you look at charts, And I'll be

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<v Speaker 3>honest with you, like I'm not a technicals driven person.

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<v Speaker 3>I'm much more fundamentals We have a great technical analyst

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<v Speaker 3>here a bit with Cruder. We got sixty employees here,

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<v Speaker 3>so we run really deep. We got experts in everything.

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<v Speaker 3>But for me, like charts are just kind of boring

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<v Speaker 3>to me, if I'm really honest with you, I don't

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<v Speaker 3>have the patience that is down. I've done a lot

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<v Speaker 3>of training before, actually a leverage training. I turned eighty

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<v Speaker 3>thousand into a million last January. You know, I said,

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<v Speaker 3>I'm doing that's what I'm out bitcoin. Okay, yeah, well

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<v Speaker 3>it so I have a bullish bias, like I just

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<v Speaker 3>know that about because really you can't be in this

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<v Speaker 3>crypto space like I am and not have a bullish

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<v Speaker 3>bias to see all the things behind the scenes that

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<v Speaker 3>go on, you know, where this is going down the road,

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<v Speaker 3>and so when things are go short term badge, you're like,

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<v Speaker 3>I don't get it, you know.

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<v Speaker 4>So for me, it was just perfect timing.

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<v Speaker 3>Because in January things were really going up and in

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<v Speaker 3>February as well, and so my bullish bias kicked in

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<v Speaker 3>and basically whenever we had a dip, I was just

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<v Speaker 3>going long and I I was using irresponsible leverage.

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<v Speaker 4>I was doing like twenty five x. But uh, you know,

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<v Speaker 4>it was very irresponsible. No one else do this, no

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<v Speaker 4>one else do this, you know.

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<v Speaker 2>But the quantitative easing was still on the table, so

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<v Speaker 2>it was and you.

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<v Speaker 3>Guys hit that on the head. I heard what you

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<v Speaker 3>guys said before I came on the show. You guys

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<v Speaker 3>hit that on the head. You look at the quantitative

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<v Speaker 3>easing chart compared to the tech stocks, it's the same chart.

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<v Speaker 4>It's insane. That's where all the money wins.

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<v Speaker 3>So but the truth is I am smart enough to

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<v Speaker 3>know that the technical do matter. It doesn't matter really

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<v Speaker 3>how much data you have.

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<v Speaker 4>Charts or charts.

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<v Speaker 3>Charts are the psychology of human behavior. It is the

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<v Speaker 3>decision making of earners.

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<v Speaker 4>What's up?

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<v Speaker 3>The person based on the lane last price action. It

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<v Speaker 3>goes all the way back to Japan and you know

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<v Speaker 3>Hikina sheet candles and rice trading. It's human psychology it's

0:09:08.280 --> 0:09:11.040
<v Speaker 3>it's not rocket science here, you know, and so people

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<v Speaker 3>are generally going to behave certain ways, and you know

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<v Speaker 3>how you know that's true. Everybody's depressed right now, you know,

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<v Speaker 3>everybody's even those of us that have been through this

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<v Speaker 3>and and we're like, you're super ogs when it comes

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<v Speaker 3>to going through these market cycles, like it doesn't feel good,

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<v Speaker 3>you know, especially for people that got in crypto laid

0:09:28.360 --> 0:09:30.800
<v Speaker 3>and like, I know, I'm sure that you guys feel

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<v Speaker 3>responsibility to your audience like I do, absolutely, and when

0:09:33.280 --> 0:09:35.160
<v Speaker 3>you see other that your people are hurting, and you

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<v Speaker 3>know that like, Okay, we know they're going to get

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<v Speaker 3>through this if they stay here, but you know a

0:09:39.200 --> 0:09:41.080
<v Speaker 3>certain percentage of people are gonna leave. And that's really

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<v Speaker 3>really sad. That proves the emotions that exist within a

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<v Speaker 3>market cycle. And so the technicals do matter because the

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<v Speaker 3>emotions matter because we all go through the same experiences.

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<v Speaker 6>Let me let me ask you this XRP. Ripple. I

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<v Speaker 6>watched the post on Instagram that you may always said

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<v Speaker 6>that they turned down a settlement in the SEC and

0:10:01.920 --> 0:10:05.760
<v Speaker 6>he was very you know, he was very passionate about

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<v Speaker 6>shit delivery on that. Yeah, can you talk about you know,

0:10:10.800 --> 0:10:13.319
<v Speaker 6>a lot of XRP Army, can you talk about that?

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<v Speaker 6>What does that actually mean and what's your thoughts on XRP.

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<v Speaker 4>So it's very interesting.

0:10:19.520 --> 0:10:22.840
<v Speaker 3>Basically, last year, towards the end of the year, or no,

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<v Speaker 3>not towards the end of the year, like right around

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<v Speaker 3>the May crash, I got in touch with this guy

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<v Speaker 3>who was we called a mixed mister X on the channel.

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<v Speaker 3>He's got to reach out to me and gave me

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<v Speaker 3>a lot of good information. It all turned out to

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<v Speaker 3>be true up to a certain point. He told me

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<v Speaker 3>the market was definitely bouncing back in the middle of July.

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<v Speaker 3>We literally got down to the last day of the

0:10:38.640 --> 0:10:41.520
<v Speaker 3>middle of July, which was like the twentieth, and sure enough,

0:10:41.559 --> 0:10:43.200
<v Speaker 3>it did exactly what he said it was going to do.

0:10:43.240 --> 0:10:45.000
<v Speaker 3>He told me about a lot of the China bitcoin

0:10:45.040 --> 0:10:47.400
<v Speaker 3>mining stuff before it happened. He told me they were

0:10:47.440 --> 0:10:49.679
<v Speaker 3>moving to Kazakhstan. All of a sudden, all these stories

0:10:49.679 --> 0:10:51.960
<v Speaker 3>start coming out, and so it was really really good information.

0:10:52.160 --> 0:10:52.640
<v Speaker 4>For a time.

0:10:52.720 --> 0:10:54.360
<v Speaker 3>He said one hundred K was in the cards by

0:10:54.400 --> 0:10:56.440
<v Speaker 3>the end of the year. That didn't happen. He told

0:10:56.440 --> 0:10:58.480
<v Speaker 3>me the XRP case was going to be settled by

0:10:58.480 --> 0:11:00.240
<v Speaker 3>the end of September, and we talked about that on

0:11:00.240 --> 0:11:00.680
<v Speaker 3>my channel and.

0:11:00.720 --> 0:11:02.760
<v Speaker 4>I got crucified because it didn't happen.

0:11:02.760 --> 0:11:04.199
<v Speaker 3>Did you guys know that when you make calls and

0:11:04.240 --> 0:11:06.200
<v Speaker 3>things don't happen the way you think they do, especially

0:11:06.200 --> 0:11:08.000
<v Speaker 3>if it's kind of based on information and it's not,

0:11:08.160 --> 0:11:09.679
<v Speaker 3>you know. And we kind of got a little lazy

0:11:09.720 --> 0:11:11.200
<v Speaker 3>towards the end of the year because I started leaning

0:11:11.240 --> 0:11:13.280
<v Speaker 3>too much on that information because it seemed good, instead

0:11:13.320 --> 0:11:15.960
<v Speaker 3>of doing what we're good at, which is analysis. But

0:11:16.120 --> 0:11:19.800
<v Speaker 3>the point is is it is very interesting Jed mcaleb,

0:11:19.840 --> 0:11:22.679
<v Speaker 3>who was formerly with Ripple, he was one of the founders.

0:11:23.240 --> 0:11:25.640
<v Speaker 3>He actually split with Ripple right around the time of

0:11:25.679 --> 0:11:29.320
<v Speaker 3>the token sale, and he's sold XRP out a huge settlement.

0:11:29.440 --> 0:11:32.880
<v Speaker 3>No one has made more money on Ripple than Jed mcaleb.

0:11:33.240 --> 0:11:34.959
<v Speaker 3>I think it's about a billion dollars that he's made

0:11:35.000 --> 0:11:37.320
<v Speaker 3>where Brad garling House and Pristal Larson I think about

0:11:37.320 --> 0:11:41.000
<v Speaker 3>five hundred million was what was in the sec lawsuit.

0:11:41.640 --> 0:11:45.560
<v Speaker 3>So the point here is in September he stopped selling

0:11:45.600 --> 0:11:47.760
<v Speaker 3>for the first time. He didn't sell in September, he

0:11:47.760 --> 0:11:49.360
<v Speaker 3>didn't sell in October, he didn't sell in November, he

0:11:49.360 --> 0:11:52.160
<v Speaker 3>didn't sell in December, he starts selling again in January.

0:11:52.400 --> 0:11:54.199
<v Speaker 4>And something is not making sense to me.

0:11:54.160 --> 0:11:56.160
<v Speaker 3>Because I'm like, this case is supposed to be over

0:11:56.480 --> 0:11:59.600
<v Speaker 3>All of the news stops right about the beginning of November,

0:12:00.000 --> 0:12:00.600
<v Speaker 3>all the news stuff.

0:12:00.600 --> 0:12:02.720
<v Speaker 4>We got no news from the case right November to February.

0:12:03.000 --> 0:12:07.040
<v Speaker 3>Well, this weekend at Consensus, a big conference, I spoke

0:12:07.080 --> 0:12:11.400
<v Speaker 3>directly with someone who I'm very close with, that is

0:12:13.160 --> 0:12:15.839
<v Speaker 3>someone I trust one hundred percent would not make this up.

0:12:16.040 --> 0:12:18.760
<v Speaker 3>And I can't say where he got this information from

0:12:18.760 --> 0:12:20.280
<v Speaker 3>because it would expose him a little bit.

0:12:20.320 --> 0:12:20.840
<v Speaker 4>And that's why.

0:12:21.360 --> 0:12:25.160
<v Speaker 3>But he told me straight up that last year, straight

0:12:25.200 --> 0:12:27.880
<v Speaker 3>for the horse's mouth, he heard this that Ripple turn

0:12:28.280 --> 0:12:30.880
<v Speaker 3>down a settlement. I think the information we had was good.

0:12:31.320 --> 0:12:34.480
<v Speaker 3>I think this was going to end last year. But

0:12:34.640 --> 0:12:36.760
<v Speaker 3>it's really actually good for the market that it didn't

0:12:36.920 --> 0:12:39.800
<v Speaker 3>because everything was so overheated, it probably would have been

0:12:39.800 --> 0:12:42.160
<v Speaker 3>cut short. This may work out better for the price, actually,

0:12:42.280 --> 0:12:44.120
<v Speaker 3>because I think it's gonna the suppression of this bull

0:12:44.160 --> 0:12:45.400
<v Speaker 3>run is going to make Ripple.

0:12:45.200 --> 0:12:47.000
<v Speaker 4>Go to the moon, as we say in the next

0:12:47.040 --> 0:12:47.960
<v Speaker 4>bull run. Yeah.

0:12:48.000 --> 0:12:51.559
<v Speaker 3>But but the truth is is that they have the

0:12:51.600 --> 0:12:54.880
<v Speaker 3>sec by the balls right now. You know, in every

0:12:54.920 --> 0:12:57.440
<v Speaker 3>single month it looks worse and worse and worse for

0:12:57.520 --> 0:12:59.920
<v Speaker 3>the se as. He see that, right, And the reason

0:13:00.040 --> 0:13:02.240
<v Speaker 3>and they made that decision was because they said, point blank,

0:13:02.760 --> 0:13:04.640
<v Speaker 3>we have them and we are going to outright win.

0:13:04.760 --> 0:13:06.360
<v Speaker 3>So we have been pushing the idea of a settlement

0:13:06.360 --> 0:13:08.600
<v Speaker 3>for a long time. I no longer believe that. I

0:13:08.640 --> 0:13:10.959
<v Speaker 3>believe that the SEC is going to get totally defeated.

0:13:11.000 --> 0:13:13.439
<v Speaker 3>And not only that, but after this case, I think

0:13:13.480 --> 0:13:16.400
<v Speaker 3>we are going to see a major overhaul in what

0:13:16.480 --> 0:13:19.480
<v Speaker 3>happens at the SEC. Because you've got to understand that

0:13:19.520 --> 0:13:21.120
<v Speaker 3>towards the end of this year, if we look at

0:13:21.160 --> 0:13:24.280
<v Speaker 3>our current economic situation and we look at these mid

0:13:24.400 --> 0:13:28.600
<v Speaker 3>term elections coming up, you have to understand, if we're

0:13:28.640 --> 0:13:31.720
<v Speaker 3>in a recession, there's no way we don't get big

0:13:31.840 --> 0:13:34.360
<v Speaker 3>changes in what's going on in Washington, because that's what

0:13:34.440 --> 0:13:35.760
<v Speaker 3>happens when the markets are down.

0:13:36.160 --> 0:13:38.240
<v Speaker 4>And if that happens, I think.

0:13:38.040 --> 0:13:41.320
<v Speaker 3>We will see some people going directly after the SEC

0:13:42.040 --> 0:13:44.640
<v Speaker 3>and we will get changes to that organization. That SEC

0:13:44.720 --> 0:13:46.800
<v Speaker 3>is the most crrupt organization in the history of the world.

0:13:48.840 --> 0:13:54.080
<v Speaker 6>My graduates from my school being false bad drop drop,

0:13:55.000 --> 0:14:10.520
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0:14:10.520 --> 0:14:14.600
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0:14:15.000 --> 0:14:18.560
<v Speaker 6>people turning it into products at our refineries, people doing

0:14:18.720 --> 0:14:20.680
<v Speaker 6>R and D to make products that are better for

0:14:20.760 --> 0:14:24.560
<v Speaker 6>your engine, people trading and shipping fuels to their destinations.

0:14:24.800 --> 0:14:26.840
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0:14:29.200 --> 0:14:32.479
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0:14:35.520 --> 0:14:37.320
<v Speaker 1>Slash Investing in America