So uh, hello, hello, welcome back to crypto with course course. Crypto. Welcome back to talking about things on the interwebs with me matt in my basement. This is episode.

Number two honestly just reminds me of of how far we've come. It honestly feels like just yet yesterday we were struggling through episode number one and we've come so far episode one to two: that's a hundred percent increase in episodes. If we're looking at it in terms of percentages, this thing is absolutely cruising already on episode. Number two: crazy, crazy, crazy, crazy.

Now, let's get into what in the world is going on in the world of crypto because as you're about to see it, it's looking a little rough right now now. Yes, it does look rough, but as hopefully i can articulate throughout this honestly. Personally, i don't mind if it goes lower. I truly truly in my heart of hearts, just think the lower it goes, the better of a buying opportunity.

It is. I can say that with the utmost feeling, behind those words uh right now, things are a little bit iffy and we're going to get into why it mainly relates to interest rates. The fed money, supply high risk assets, but we will be talking about all of it. Very, very quickly, just to give you a little bit of a format for what in the world is going on in crypto for today, tuesday wednesday.

Whatever day of the week, it is it's it's december, 14th, it's tuesday december 14th, and the reason you need to know that is because, on wednesday december 15th the fed started its meeting today. It concludes tomorrow. There's going to be some fireworks around 2 p.m. All the way until close, 2 p.m.

2. 30. The press conference starts it's going to be nuts, it's going to impact the entire equities market and it's definitely going to have an impact on the entire crypto market. Uh high volatility times to close out the year.

For sure so, for today about midday, bitcoin cruising around just below 47 000. ethereum sub 3750 right now avalanche sub 80. You even have loop ring coming off of 228, all the way down to 212, and with all of this i want to say this at the very start. There are some moves.

There is some positive movement today we're going to be talking specifically about ethereum and what's going on there and how we might be seeing sub 3000 by the end of this calendar year. Honestly, if that happens, i would view it as a golden buy opportunity. Doge is having a good day because of a tweet from elon we're going to be getting into that, but i really want to intertwine this all together of how it connects with the macro economic picture, with the federal reserve and probably a lot more. I guess maybe maybe matters more to you of.

Where does the opportunity lie? When should we strike? How can we make some of those digital dollars um, let's hop right into it. So right here here is coin market cap and things are dropping uh. The overall market cap of crypto right now 2.1 trillion not that long ago it was all the way up at 3 trillion. You have bitcoin now sub a 1 trillion dollar market cap, it's at 887., ethereum.

450. Sorry, i probably said trillion. I meant billion 450 billion. You have solana, even though it's been had like a rough go of it.

Lately, it's still number five. At 47.8 billion uh, you have cardano slipping from spot number, six to spot number, seven. So, overall there's clearly pressure in crypto, i'm not trying to tell you that there isn't in any way, but let's kind of be a little bit more realistic and try to understand. What's going on and really let's understand where opportunity is potentially knocking, and i think that first opportunity relates to this three reasons why ethereum price can drop below 3k by the end of 2021 and if i don't want to like spoil it for anyone, but the first Two reasons are technical, so the first one we're in this wedge by these two white lines, i'm on the one day chart and it's kind of starting all the way back in may and i'm also connecting with july.

But you can check this out. This is the one day for ethereum, and not only are we in a bearish wedge structure as in breaking down, it looks like we might be breaking down right now so previously on december, 4th ethereum did have the breakdown, but quickly got bought back up. It doesn't seem like we're seeing that price action, so i'm watching first before we're talking about sub 3000, i care very much of 3 400.. We have some consolidation consolidation, rejection, rejection, rejection, consolidation, support support, whatever's going on people in the world of ethereum.

Probably one of my favorite utility coins is strongly strongly reacting to 3400. That is obviously my first watch if i start to see bounce off of that i'll be buying there, but if it doesn't hold i'm watching the key psychological and technical level of 3000 flat and below that is 2750.. Now, i'm not saying that this is actually going to play out that way, uh and mainly just because i always play from trance tranche. I want to watch support.

I want to watch resistance and i'm not going to call out 2750 now, because i want to watch 3400. I want to watch 3000, i'm always playing the levels of the closest support and the closest resistance and with it i do admit right now we're getting a little bit of a bearish breakdown, and on top of it, really it's reasoning number two: if we map out These highs and you use the relative strength index, also known as the rsi one of the most common technical indicators you're gon na see, what's referred to as bearish divergence. Obviously, the price has gone higher 4380, all the way to almost 4900, but the momentum was less. That's exactly what the rsi maps out: it's a momentum, oscillator, the higher and higher it go.

It has values of 0 to 100 when it's above 80., that's considered to be a ton of momentum to the point that people are kind of pointing out. Well, maybe the move is over. Maybe it needs to take a technical breather and then the same thing is can be said about the flip side. So 80 is extremely high.

People consider it to be overbought when it's above 70 below 20 is extremely oversold, and it's considered to be oversold if it's sub 30, just for the flip side of it. If you're reading the readings over here, but anyway, the price has gone higher. The momentum not as high so that tells you that there's a bit of a mismatch, there's not as many people excited buying at 4900, as there was 4400. That mismatch in this scenario is referred to as bearish divergence and it's commonly indicative of either some sideways trading or even potentially a future sell-off, and that's exactly what we've witnessed ever since early november coming off of 4900, all the way down to 3 800..

I in the short term will be looking to see if this corrects right back up into the wedge. If not, these are the three main levels i'm watching, and i can wholeheartedly tell you if ethereum gets back to sub 3000. I just view that, as an amazing buying opportunity, i will everything, i've been learning and studying. I strongly believe the social and cultural push for this utility-based technology is going absolutely nowhere and in fact, i think it will grow at an exponential rate.

Now is ethereum the only one, no solana cardano avalanche. There are many others and i'm actually a fan of all the major top contenders. So those are two of the reasons we have the technical structure breakdown. We have the bearish divergence.

The third one actually relates to what i was alluding to before, and it's all about the federal reserve. If you want to talk about that fiat currency, they are meeting today, they are meeting tomorrow and this year has been absolutely wild in predictions of what will and won't happen and now because inflation is getting out of hand that was reported earlier today. The producer price index, uh sky, high sky high, the consumer price index sky high both are sky high. So with all that being said, it seems like the federal reserve is going to do what it has at its disposal to help battle inflation aka going from dovish to going hawkish, that's going to involve increasing the rate of their taping before november.

They were purchasing bonds at a rate of right here, 120 billion amount a month. That was the amount per month in november they lopped off 15. in december they're gon na lop off 30. people think that it's going to continue at a pretty fast pace and we might be doing tapering potentially as early as march this year.

We're looking for a follow up on that tomorrow, then from there we're now talking about interest rate hikes, so they're pretty much zero, that's a one way to help with unemployment, but it's not the best for inflation. So a lot of people are expecting that at first whoa that was loud. My apologies that, like actually even scared me, is there a way i can uh edit the sound all right, we'll have to come back to that. Whatever you do do not do anything that produces a sound, it was oddly distracting none of that.

No subs, no super chats, no memberships, nothing fun whatsoever. I just want to get that perfectly perfectly clear. So anyway, tapering the velocity of that is increasing and then from there we're also going to be looking at interest rates. So at first they're, like no way are they even going to do an interest rate hike in 2022 and then like okay, maybe by september now, people are actually targeting june and now the newest conversation is what, if they do, two interest rate hikes potentially june and December, that is going to be the hot topic that relates to anything inflationary and, obviously, when you have bitcoin who's kind of the s p 500 of the crypto world, that's thought to be an inflationary, hedge it'll be a strong impact and i don't think that uh Other things will kind of be left out of the way.

I think if bitcoin has a big swing, you're going to see the entire crypto sector have a big swing, speaking of which those are the three reasons why ethereum drops below 3 000. Do i think that this will happen? If i'm being completely honest, i'm unsure, i guess in maybe a selfish way i want it to just so. I could buy more because i'm that confident in it, but is it going to go sub 3. 000 in the next 15 days it could, but i don't even think, that's necessarily the right answer.

I think the answer is or i don't think that's the right question. So i don't particularly care about the answer if it, if it does cool i'm buying more, but i'm really looking for the fallout in the world of crypto related to the fed meeting, and on top of that we also have some regulation development so actively. Today. Right now, the congressional committee, of whatever whatever and whatever, is listening to an argument about stable queens.

What are stable coins? How safe are they blah blah blah congress is currently getting schooled on stable coins, so you have to pay attention to other regulations as well going on in the u.s and then obviously, on top of that any commentary from the likes of massive countries such as china And also on top of that, india moving on, obviously, this fed stuff clearly also going to have a impact on bitcoin there's no way it doesn't have an impact on bitcoin this article kind of interesting. I recommend checking it out it's on coin telegraph, they're thinking so before we've had those sayings of buy the rumor sell the news this time around people are kind of looking at sell the rumor by the news um. So what they're seeing - and i found this to be particularly interesting - uh bitfenix uh laying down bids so some of the movements we're seeing right now are, like, i guess, quote - unquote the opposite of whales like some minnows getting out kind of pushing it down. But we're really not seeing a follow through by the big players, who might be a little bit more knowledgeable of.

What's going on we're not seeing that particular party uh. That group leave the party quite yet uh a pair with the ill-liquid supply back at yearly highs and some large bitfenix bids coming in just waiting for the 53 000 to start bidding happy to miss some of the move and essentially wait for the confirmation so they're. Looking for the confirmation, like kind of recapturing 50 key level and then 53 is a key technical level, so you have a key technical level, key psychological level and potentially the people following through on that. But overall i found this data to be, i guess just noteworthy, because the price action might seem a little bit more.

I guess intense or severe than what we're actually seeing in other at data sets that you could use. So i think tomorrow is expect a high high volatility day in both ethereum and bitcoin. You know it is having a great day, though doge the initial, the the meme coin, that kind of started it all kind of a wild day. It was trading around 16 cents shot.

All the way up to 22 came back down to 18 and it all relates to the times person of the year. Elon musk tesla will make some merch buyable with doge and see how it goes. Quartermill likes 41, 000 retweets, 8.7 000 quote tweets this. This is going nuts people, i mean this is going absolutely insane.

Those are some very, very big numbers and whenever elon opens his mouth about crypto but specifically doge we're seeing uh quite an influence and that's exactly what happened if you match up the time. This was the doge rally 100 because of elon, and now i'm hoping in the bigger picture that it can find support at 18 cents, where it is now where it found previous resistance. Bounce back off of that - and i would love to see this break out around 23 cents uh. Yes, i do have doge, it's not the biggest position, but i'm in it just because i like the lulls.

What i think is pretty cool is more and more companies are clearly understanding the opportunity in the world of crypto and a lot, particularly in the metaverse. I just wanted to share this with you: sportswear giant nike purchases, nft fashion, collectible, startup, rtfkt, uh, pretty cool stuff, multinational footwear, behemoth, mikey just took a big step into the metaverse and that they did on friday, nft collectibles and fashion startup. Rtfkt announces on twitter that the company has been acquired by nike. The terms of the deal were not disclosed and even if you watch this video, it's actually like this is a sick.

Video. Look at all these uh nike shoes, swapping there kind of the the metaverse thing it's just so much potential, and when crypto itself is the technology supporting this potential for pretty much all of humanity. I it seems crazy to me to want to bet against it. One of the flagship products is a hybrid nft physical, shoe collectible, inspired by the legendary crypto punks nft collection and the project attracted headlines in march when a digital footwear collaboration with prolific, non-fungible token artists, i'm going to butcher this name.

So i'm not even going to try my apologies sold for 3.1 million in metaverse kicks. I love to see this kind of crossing going on nft and a physical shoe, both collectible. I think it's really really cool. This acquisition is another step that accelerates nike's digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming and culture, and that's exactly where the exciting intersection is to be right.

Now: sport, creativity, gaming and culture. Super super smart super super cool, we're acquiring a very talented team of creators with an authentic and connected brand. Our plan is to invest into the rtfkt brand, serve and grow their innovation and creativity community and extend nike's digital footprint and capabilities. So i just want to highlight once again that we are seeing so so many different companies really expand their own digital footprint.

We know gamestop's working on an nft marketplace. We know the likes of discover apple newegg, all excited about crypto amc with their nfts uh. So many cool things going on and i think it's almost silly for any company right now to not try to understand a way that they can leverage the world of crypto for themselves. Uh, following up a little bit on that, i just had a couple more tweets that are quotes that i thought were interesting to share.

They are looking to deliver next generation collectibles that merge culture and gaming. Our plan is to reinvest into the brand serving grow their innovation and creative community and send nike's digital footprint. I'm just repeating that once again, because i think it's that important, that that many new sources are bringing up what nike's trying to do, and i would not be surprised if you see more, i guess, fashion based companies or really just companies in general, also try to Capitalize on that, and it's just not in the world of fashion at all accuweather, you know the people who sometimes tell us if it's going to rain snow, whatever is going on there they're getting into the world of crypto taps chain link to explore crop insurance and More but this one's for a little bit more of a, i guess, let's call it a serious reason: um blockchain oracle services, firm chain link has added u.s meteorology forecasting provider accuweather to further bolster its suite of real-world data feeds, and i think this is super. Super cool, so this is a quote from the firm's director of flagship products.

One of the most important use cases is parametric insurance and crop insurance is definitely a big one being able to cut out the middleman in some countries that are perhaps underserved in terms of insurance. The other places we're looking in future markets. So i think this is wildly cool, because at one point you seem crypto making a cool metaverse like you can have awesome shoes. You can have an awesome outfit.

You can express yourself outwardly. However, you choose to do, but on additionally to that crypto is helping with real world problems like food, hunger, man. The fact that this technology is that impressive, that it can serve the entire gambit. That's what i think it's so cool, so even we're talking about potentially ethereum and crypto and that stuff looking rough in the short term.

Look at the big picture. We didn't want to miss the boat on this opportunity. We want to be at the forefront of innovation in the weather space and, i would say the first part of that is applicable to any of us. We didn't want to miss the boat on this opportunity.

I think that's the perfect tagline for crypto right now. Don't miss the boat on the opportunity, also, this year chain link partnered with the ap to provide us elections data as well as sports and macro economic information, so crypto. This is just exclusively chain links, elections, data sports, macroeconomic information, we're talking about crops and then another aspect of crypto we're talking about nft shoes, man, the applications seem endless, but it's not necessarily all on the up and up. Obviously, there are very, very good things going on, but there are so, i would say, legitimate concerns beyond just the world of scams.

The sandbox co-founder wants to defend metaverses against big tech. The sandbags co-founder sebastian borgit wants to defend the metaverse from from the big tech giants. In a recent interview. He said that he's not very keen on big tech companies such as meta facebook, aka facebook joining the metaverse.

He explained further that major technology companies could threaten the decentralization of the metaverse as their business model goes against it. These are some. These are some fighting words for sure, so i i hope sebastian here definitely has the proper backing, because it's not too often that you go against facebook, aka meta and come out unscathed uh. This is a quote from them.

We don't think those companies can build. Something. Truly fun: that's catered to the users because they've been so focused on their key business model and how to satisfy shareholders, rather than satisfy the users who own the asset who own the governance of their own platform. So right here you're getting into the intersection of a very interesting philosophical debate of crypto.

So obviously, sometimes you need these big players to push along the technological progression. But when you're talking about the technological progression of something that is inherently attractive because it's decentralized, it's weird, because i think he's bringing up some very, very valid points. And i really this one stuck out to me. Not only because i agreed with what he was saying.

But so many people recently have been talking to me about sand and sandbox and all that, so i just wanted to bring this to your attention and, let me know in a comment like do you: how do you feel about big tech? I guess trying to lead the party in crypto um for me personally, i see there's certain aspects that they could definitely help with, but i think other times i a question of, do they care about the community versus their bottom line. I would love to get your thoughts on any of that. A little quick one for you here, ftx u.s partners with golden state warriors the nba team to offer exclusive collectibles on the crypto firm's nft platform. You know this is the first thing: i've read about it and i i actually really kind of like it so right now.

The dominant nft platform is open c and we know that coinbase is trying to come out with their own. We know gamestop's trying to come out with their own and now ftx is trying to come out with their own. I looked at thurs and i haven't bought or sold anything on it yet, but i think it's something that at least deserves people's consideration. So i will be looking more into ftx's nft platform um because similar to crypto the concept of not all power being concentrated in one thing, i think a lot of these nft platforms, it's all highly concentrated in openc, so whenever you're, a buyer and or seller and Or creator i like, when there are options, ftx brand will be integrated into the warriors esports brand, with its logo virtually placed on the team's court during the nba 2k league game.

The deal follows ftx us partnership with the warriors point guard stephen curry in september. So we're seeing a lot of these celebrities and athletes signing all these big crypto deals. This is somewhat reminding me of crypto.com buying the naming rights to the staples center. I think matt damon tom brady like to me when people are talking about like negative things related to crypto or like to the extreme nature of saying it's a fad and it's going away and no one cares about it, and it's just just that.

Just a fad. It honestly blows my mind it like it just it tells me that they've done borderline, no research and most likely no research, if you're doing your best to gauge the purveyor prevailing winds. In my humble estimation, it is highly supportive of crypto, but that doesn't mean that it's all completely good. There are serious regulatory things that need to be considered so, like i said today, congress was hearing an entire discussion about stable coins.

We know that there's a lot going on with ripple right now and using archaic rules from the sec laws from the 1930s that were based basically 22 decades. Even before that. So we're in a scenario where we're using rules and laws that are a hundred years old and we're attempting to apply that to crypto. That is insane.

If you want to know more of a full-fledged discussion, i highly recommend checking out my interview with jw verrit. He talked about it he's been following the storyline of regulations as they relate to crypto very, very intimately, and i think it's just nuts. I think it is straight up nuts that we're using laws and rules from 100 years ago to try to now define what should be going on with the regulation of crypto. This is a little bit new sec chairs regulatory agenda fails to include clarity on crypto, says hester pierce, so hester pierce is a part of the sec committee, so kind of working right hand in hand with gary gensler, and i highly recommend checking this out.

This one's also on coin telegraph. This is one of her tweets. You can find her on twitter. The latest regulatory agenda shows that the sec will be busy in the upcoming months, but it won't be working on the right things.

Kind of a bold statement makes me wonder if there's a certain amount of political infighting within the sec, but one thing i can say for sure the upcoming calendar year 2022. I man, i would bet any amount of money that it's going to be the year of fireworks in terms of equities regulation such as payment for order flow off exchange trading, that type of deal maybe a little bit of insider training as it relates to congress. Hopefully they take a look at that, but on the flip side i think there's going to be a lot of fireworks related to crypto regulation and any developments, particularly within that sector. I think the upcoming year lots and lots of regulation fireworks, so um we're definitely going to want to be staying up on it because it's going to impact us not only regulations but taxes, the world of crypto right now, it's new.

It's bubbling! It's influx. A lot of things need to be figured out and i think it's incredibly incredibly important for all of us to stay up on top of it, because, yes, i think it's great opportunity, but you have to know how to properly thread the needle of that opportunity. If you're definitely looking for the financial windfall that could potentially be involved, if you're interested in getting crypto check out voyager it's in the description of this video in terms of technicals bitcoin flat, it's added support. I very much wanted to bounce off of this.

Ethereum broke down below its support, but it's still awkwardly hanging on right there. So i wonder if it's a fake out breakdown, but these are the levels i'm watching. We went more in depth on ethereum right now. Even avalanche has added support.

A lot of the major cryptos are right now, just conveniently sitting at their levels of support, as we wait for the fed meeting. We'll get some of the results at 2 p.m. Tomorrow and then the talk will be at 2 30.. Once again.

That is all on wednesday december 15th, and obviously i will be talking on it. Um in the morning show the crypto show the afternoon show. I will obviously clearly be covering it, because it is important for both the equities and the crypto market team kryptonians. Whatever you want to call yourself, i don't care.

I just literally came up with that right now. That's it for episode! Two. I very very much appreciate your support. Let me know if you have any questions.

I have a couple minutes to give back to all of you if you have any specific questions or ideas of what you want to do we with this. Obviously, it's very very new. This is just episode. Two uh.

We already have someone spamming um. I want to get some kind of interviews involved in some of this stuff in the future. I think we could have some really really exciting crypto based interviews, i'm going to be definitely 100 looking into that. But if you have any suggestions, whether you want to drop it here, if you want to personally dm me, hey just like crypto, this is i view this as one big community project.

So i want to cover the storylines and the narratives in the world of crypto that all of you are particularly interested in and i don't know if anyone's interested in it or not. But i will give you an update on. I have now been involved in dow protocols for five days. I have five different ones.

I put ten thousand dollars on the line and at one point i was up two thousand as of right now. 2. 25 p.m. I am up eight hundred dollars as of now.

I am up eight hundred dollars, what's been hurting me recently. It looks like wonderland time like time itself has taken a hit, so i'm hoping for a re like a reversion bounce on that in the short term. But overall i'm up the apys are crazy, but um not as up as i was. I want to let this run for multiple five day cycles.

Uh before i do like a standalone and explain how i did all this um, i i think it deserves more than just like one five-day attempt, but as of now we're up, obviously i wish i were up more, but let's see how this all truly truly ends Up playing out so with that i will be going on hang on. I need to get rid of this spammer. All right, robert is gone. I got rid of the spammer, i will be going on fox and uh.

Actually right now they are calling me so folks. I need to drop this and i will be there for the power hour stream at 3.