Bitcoin Halving 2024: How To Prepare (before it’s too late)

For the Bitcoin having for a new Investor that maybe just came in in the Last couple weeks in basic terms what is A piece of advice as people are watching The Bitcoin having unfold for their First time today I interview crypto Analyst Scott milker on how to prepare For the Bitcoin having 2024 the having Itself as in the day that it happen Which by the way is on 420 because the Irony of the crypto space cannot be lost On anybody Scott shares his journey his Experience listen if you don't have PTSD From previous crypto Cycles by being Here and experiencing this then you're Some sort of robot hero and I ask Scott The tough questions Scott what scares You cuz I'm bullish you're bullish I Think bitcoin's going above $100,000 but What could go wrong watch the whole Video things get real you don't have to Answer anything but that's like an Obligatory question that your uncle will Ask you at the next family reunion click Subscribe for one video per day keeping You informed about crypto and let's Start in the last 3 4 weeks Bitcoin hit Alltime highs surpassed it for a day two Days and then we've just been Consolidating for a few weeks now what's Your take on that it's horrible I can't Sleep at night it's a nightmare if price Doesn't go up every single day no Obviously I think it's completely normal

Um you know consolidation is healthy in Fact I would welcome sort of a long Period of that even a few months because The longer you consolidate the larger The expansion you know I I remain Exceptionally bullish but there's been Some I would say significant signs of Froth and some warning signs that things Could have been getting toppy here so I Think a cool off is natural it's Unbelievable how people are panicking When Bitcoin is in the 60s or low 70,000 In April ahead of the having when those People would have literally probably Like gotten in line and slept outside For 17 straight days with no food to Have 60,000 something prices in April if You ask them three months ago but in This space things move so fast I think That people just get bored exceptionally Quickly and find another place to gamble That is spot on and especially like if Bitcoin would have just been going up Linearly for the past three months and Just every day a little higher a little Higher everybody would have been Thrilled where we are today but the fact That it's volatile that it's volatile Some people seem to still be a little New absolutely I mean it's the the great Memes of you know Leonardo Dicaprio and Gatsby 66,000 on the way up and then He's like in the you know in the tundra Wrapped in Buffalo skins on the way down

At the same price a week later whichever One you want to choose it's just Incredible to watch the human psychology Of panic when you zoom out 66,000 is just an absolutely incredible Price for Bitcoin regardless of when it Is and especially at this early stage of The cycle and especially in context of The Bitcoin spot ETFs pushing price this High I think was everybody's dream now The Bitcoin having specifically that That has been getting a lot of coverage In these last several weeks from the Mainstream media do you think it's going To be a buy the rumor sell the news the Having itself as in the day that it Happens which by the way is on 420 Because the irony of the crypto space Cannot be lost on anybody uh but um I Think that it's just nothing event when It happens right we we know that Generally in the cycle the having comes And goes you pop your champagne and then You uh go back to work because nothing Really occurs on that specific day it Takes a very long time for that Supply Reduction the difficulty and hash rate To really play itself out in the market And to be quite Frank when you look at The numbers even in a year it really Only reduces the supply in dollar terms By a few billion dollars and now with ETF demand and Supply we've seen days Where gbtc was almost a billion dollars

Of net selling and outflows and the Market absorbed that so I think from a Very strictly fundamental perspective The having is not that big a deal for Price I think it's a huge deal for all The reasons that we've always believed In it for the scarcity of Bitcoin for The you know deflationary aspect for it Being Superior money but for price it's Almost I think like the narrative in Cycle happens because it's a shared Belief that the narrative in cycle will Happen which by the way is every thing In every market and every shared belief Right it's only a matter of a a fact Because people believe in it but I I Don't expect much to happen on the Having date I mean my base case right now and I've Been saying this now for those three Weeks basically since we hit that All-time high is that maybe now that We've absorbed the idea of the ETFs and The buying maybe we kind of kick back Into the normal having cycle which means What low volatility low volume really Boring summer people get chopped up time Based capitulation it's never going to Break an all-time high again and then up Only in the fall so imagine if we're in This exact price 6 months from now the Panic that this Market will be feeling And it would still be ahead of schedule To be at those prices in the having

Cycle what is your price prediction post Having now let's go cycle top end of the Year whenever that is because this does Have a long-term fundamental impact on Price what's your Expectations I think the ETF is having a More fundamental impact on price than The having and I think the slow unlocks Of major platforms we know UBS Apparently will be coming online in the Next week to uh allowing all of their Clients to buy spotty chips really huge And we've heard reports that Morgan Stanley is trying to get ahead of UBS Because they're panicking and now we see Citadel Goldman Sachs and others lining Up to be uh to participate in the Bitcoin spot ETF it's really crazy to See these huge institutions so I think That wall of money and buying pressure Is much more important at this point Than the having I mean I wouldn't be Surprised if when the having comes we're Still chopping around these prices I Have no idea I don't have a crystal ball These are just predictions probably Wrong I mean the odd of being right is Especially when you have time attached To it or extremely low but I would not Be surprised if Bitcoin is roughly Trading at the same price and then we do One of those crazy 50k to 70k ranges or 50 to 75 or 55 to even 80 make another High in there somewhere through the fall

And then all of a sudden we're at 100 Grand before the year end you know November December we start really going Up we've seen that in the past and then Nothing would surprise me for a cycle High to be quite Frank we could stop at 100 and we could be at 250 and neither Of those things I think would be Particularly surprising to me but I I Think I'm an optimist over 200,000 by The end of the cycle there seems to be a Big education this cycle from Michael Sailor from investors like Lawrence Leapard notable institutional guys that They're not selling obviously some People are going to sell but that why Would you sell to put it in a different Asset when Bitcoin is that long-term Hold um what are your thoughts this is My third Bitcoin cycle and I haven't Sold any Bitcoin so even from the Beginning that's been my Approach but Holy wow do I sell a lot of other stuff Right so the Bitcoin I don't sell Ethereum I've largely held everything Else partially ethereum as well I view As a speculative VC Tech investment Which by the way can be awesome and Those can last and become long-term Multicycle multi-decade holds but I view Basically the crypto Market if we're Viewing it as different than Bitcoin as A high stakes game of musical chairs or Hot potato uh where you hopefully find

The winners and hold on to them and Bitcoin to be something completely else And so I think every single cycle you Get more people that come in for various Reasons bitcoiners would love to think That the reason everybody got here last Cycle was Bitcoin but I would say if I Had to put a number on it 85 to 90% of The new entrance into crypto last cycle Came through Doge and nfds right which Is why I don't think we're getting Mainstream media attention to the new Bitcoin all-time Highs but I think if Doge makes a new all-time high we're Gonna have a lot of people that aren't Underwater and are really excited about Crypto as sad as that is um but you know I think that you add this sort of floor Of never selling Diamond handed holders Every single cycle and to be quite Frank That's what excites me about the Bitcoin Spot ETFs and about that being the more Fundamental event because I think a lot Of those people not because they're Diamond handed or fundamentally believe But when people allocate to a long-term Investment Portfolio say 1% 2% 3% they Don't even know that price is down 10,000 or up 20 or down 40 because they Don't check right people who are putting A Bitcoin spot ETF into their Ira Because their investment advisor says You should have 1% in this might not Check the price more than once a year

Right and so I think in our Echo chamber And our little bubble we obsess over Daily price moves but the people that Are coming in are just going to view it For Better or For Worse like another Stock that they've allocated to that Maybe they'll buy more if it goes down Right because that's how most people View the assets that they are buying for Retirement or long term so I think we're Getting more Diamond handed holders for The right reason and then getting a lot More passive investors who just aren't Going to pay attention or sell either so I I do think that a bigger supply Reduction in Theory comes from the Behavior of the market than it does from The Scott what scares you because I'm Bullish you're bullish I think bitcoin's Going above $100,000 but what could go Wrong a lot of things could go wrong so As I told you three weeks ago or two Weeks ago I basically sent a tweet that Got me eviscerated it said I have some Concerns by the way by even expressing That you have some concerns means that You're uh Uber bear and uh you know Punishable by walking the plank uh on Fire so I said I have some concerns as Much as I understand the flows of the Bitcoin spot ETFs are massive we're Getting new unlocks Ras are coming Online new institutions that's

Incredible I really think that sets a Floor but a lot of the at least Temporary cycle top signals we've always Seen in the past are happening memec Coin Madness I think to me is whether It's a top signal or not it's a signal That people have gotten bored and are Really ready to gamble I mean my example On that day was that that somebody Anonymous had posted a salana address on Twitter for a pre-sale raised $30 Million in 30 minutes and then deleted The Tweet 10 minutes later so you have People literally sending $30 million to A stranger in 30 minutes because they Think that they're going to make a lot Of money and it lets me know that the Major portion of the crypto native Participants are in the casino and They're gambling and they're not leaving Till they're broke right and so I I Think that those are really very Significant top signals if you looked at Charts I mean even you know l1s and the Larger moving all coins were overbought On RSI you know that doesn't mean the Top is in it just means a top is in and It was right so you have to always kind Of talk about tops and Cycles uh with Time frames attached because you can Have a top without having the top right So that was my argument sort of for a Longer consolidation if all of that Madness continues potentially gets on

The radar of the regulator although I Don't think people take the SEC very Seriously at this point or fear them but I mean you never know what's on the Horizon from the government or a Regulator or something so I do think There's potential black swans and I do Think that there's a degree of shooting Ourselves in the foot in this community When things are building so nicely Fundamentally with the uh adults in the Room the behavior that we're doing on The other side not myself necessarily But as a community could be could be Very damaging but I just think we have a Lot of signals of Froth but uh I do think that the spot ETF flows will outweigh that I think the Fact that we're an election year I think The fact that the economy has been Surprisingly resilient and strong There's just no huge Apparent headwinds At the moment it feels like it's nothing But Tailwinds but you know listen if you Don't have PTSD from previous crypto Cycles by being here and experiencing This then you're some sort of robot hero Um but I think we all mentally should Always think what would I do if the top Was in right now and that's sort of my Approach I would just buy more Bitcoin Obviously but I've taken profit on a lot Of altcoins that people think I'm nuts For but if I'm up three or fourx I'm

Going to sell a huge portion of that and Ride the rest I don't really care where The cycle goes we've already had a bull Market you know so uh I just think Exercising caution mentally I really Think that everyone thinks up only is The only way this can go and when is the Crowd always right so it just really Does you know sort of give me pause for The Bitcoin having for a new investor That maybe just came in in the last Couple weeks in basic terms what is a Piece of advice as people are watching The Bitcoin having unfold for their First Time dollar cost average and learn about It fundamentally because it's an Important part of Bitcoin and you should Understand the asset class that you're Investing in but do nothing as far as Your investment thesis based around the Having especially if if you're brand new Just dollar cost average and chill and By the way uh if you've been dollar cost Averaging on bitcoin for all of history You're maybe you're down on one or two Buys that you hit in the last couple of Weeks but you're basically up on every Purchase you've ever made in your life Just like Michael sailor is it's really Just the most powerful way to play these Markets without emotion and to gain Exposure I said something recently on Twitter I said the PE the idiots in

Quotes who bought the alltime high Because nobody wants to buy the all-time High now you're nuts buying the all-time High the idiots who bought the all-time High in December of 2017 at $20,000 are Up 3 to 4X right in seven years yes I know that That's uh have fun staying poor in the Crypto Market only three and a half X in Seven years but people like me who grew Up really excited to make 10% in a year On your stock portfolio if you're like Trading and investing well three and a Half times in seven years is just a Really astounding number so I think you Just take the Michael sailor strategy When you have extra money that you don't Need to spend that you can put in the Market for a long period of time just Buy and watch the having because it's Interesting and learn about it because It really is one of those fundamental Aspects that makes Bitcoin more Compelling than Fiat but I don't think There's a price or trading thesis around It at this point Scott I love having you On links for all your stuff are down Below I want to have you back on three Four months uh just revisit crypto Market Big Picture final question though Not allowed to say ethereum not allowed To say salana what's one altcoin that's In your bag that you believe In if you bring me back in three to four

Months it'll probably be to dunk on me For how wrong I was in this interview It's usually the conclusion you be like We're at 100,000 right now man what was With all that fear uh fear uncertainty And doubt that you had do I have to Answer that question I hate that Question the old listen so I I think I Just hate the like what's your favorite Coin in your bag I have so many at this Point that it's becoming uh you don't Have to answer anything but that's like An obligatory question that your uncle Will ask you at the next family reunion So my wife said this to me in the car Today she said imagine I wasn't your Wife I was like can't um but imagine I Wasn't your wife I was like this is GNA Get weird but she was like and you get And I asked you the question that Everybody asked me because people ask Her knowing that she's married to me Like what coin should I buy right now And I say Bitcoin ethereum and bab me Salana because I refuse to give that Answer because even if it goes up 3x and they're not going to know if I Intended to sell or when I intended to Sell or what my thesis was and they're Going to ride it to zero if it ends up Being a complete train wreck I can tell You that as far as like buckets I think Rwa will continue to be do exceptionally Well I think AI will have another cycle

Although maybe sort of cooling off right Now and I think gaming is going to be Absolutely massive I think we have Legitimate AAA G games coming to Blockchain this cycle that we didn't Before I mean I'm still invested in Alium and star Atlas and a lot of the Big games from last time and I've Largely ridden those waves I just Invested in gonzilla which is coming out Which is I mean talk about like a game On PlayStation with epic nfts maybe I'm Wrong but I think that we're going to See some of the huge narratives that Were too early last cycle just Absolutely explode this time so I did Just throw out some names which I Normally wouldn't but um you know and Honestly like I think that the trailing Layer ones that have meaningful adoption Like an avac or something like that I I Have large exposure to those because I Do think we'll continue to see these Sort of cyclical rotations from uh you Know one L1 to the next and one Ecosystem to the next and then you know They'll each continue to rise and tvl And do well listen if this Market does Well most tokens are going to perform Exceptionally well and as long as you Can accept that you didn't catch the one That did 10x because there's only did a 3X and that's fine I think you'll be all Right and by the way just for the folks

At home clarification I didn't ask what Would you buy now I just asked what you Believe in so obviously if you at home Are investing now that's not you know We're Believers in these coins we've Been in the market for years so just Understand your situation investing in Crypto 100 100% great caveat I think Still and this is what I said last cycle I still think the best way if you're Relatively new to invest in this market Because you're very unlikely to either Gain access early enough or understand Early enough which coins are going to do Those 100,000 X's that everyone seems to Expect will be a part of their portfolio Just buy the l1s because you know the Value of all of those things even to a Lesser degree will acre to those Networks look at salana right maybe you Didn't catch the meme coin that did a 2,000x on salana but if you bought Salana at8 10 20 50 hundred dollars You're really excited right now and all You had to do was just take the boring Play and buy the L1 where all of that uh Action was happening so I I still think That's a simpler way to go further down The risk curve without becoming complete Degenerate and trading cat with dog Pants or whatever people are doing Scott Melker thank you for joining me uh final Thoughts for the altcoin daily Army I Believe and hope that we really are just

Getting started in this market so I Would say remain calm continue with your Strategy of dollar cost averaging uh Specifically in Bitcoin the bigger Assets take your shots on these things You really are passionate about and Think could do 100x the very small Percentage of your portfolio I think you Should absolutely be an investor first And a Trader second so whatever you're Going to use for those sort of more Speculative bets because let's be frank All of crypto is speculative including Bitcoin even to some degree uh you Should be doing with a very small part Of your portfolio and frankly if you Catch a a 100 or a th x with one or two% Of your portfolio you're going to be Doing just Fine