The Altcoin Reckoning

Hey everyone and thanks for jumping back Into the cryptoverse today we're going To talk about the altcoin Reckoning if You guys like the content make sure you Subscribe to the channel give the video A thumbs up and also check out the sale On into the crypto various premium uh Into the before we jump In there are in fact two orders of Business to take care of one of which is I am starting a new show on Mondays uh So of course we have not Financial Advice live on Thursdays with guy from Coin Bureau and Rob from digital asset News but I'm going to start another show On Mondays at 11 A.M Eastern with Gareth Soloway okay so do look for that that is Going to start this Monday we're going To um uh just more or less have a Dialogue uh every single Monday on on The market to talk about what we see Going on and and we might experiment With a few different you know formats as The weeks go on but I do look forward to That show and I would encourage everyone To try and tune in I think it should be An interesting conversation so that's The first order of business okay And again that starts on on Monday at 11AM The second order of business is in fact A very serious matter okay and it of Course is related to to how people write Their fives okay you know I didn't

Really think this was going to be that Big of a deal but you know I put out a Poll and after 14 000 votes only seven Percent of people write their fives in The most efficient way right only only Seven percent of people so only seven Percent of people chose the correct Answer Um as I've said before if you're riding A five and let's say you're writing a Number before a five right if you write A one what's the most if you wanted to Write 15 you write your one and then you Have to come all the way back up here to Start your five no you write your one And then you just start your five right Here right Now if you were to write a two or three Or a four right if you write a four Where does your where does it end at it Ends down here so you just go ahead and Write your five Okay so I don't really know what's going On with 93 of people saying that they Start writing it from the top But that's very inefficient what's more Concerning to me is not that 93 of People start from the top what's more Concerning to me is that there are People in the comments section Saying they start from The Middle What does that mean you know how do you Start when what does that mean like you Start here and you go up and go over and

Then do this I mean did you just wake up and decide To be to write the five in the most Inefficient way you could possibly Imagine I don't know and again I mean there's There's legitimately people saying that They write their five starting from the Middle which seems to be like the most Inefficient way to do it uh these must Be the people that have been buying all Coins for the last 18 months but anyways I I wanted to just sort of address that And um and say that you know Congratulations to the seven percent of People who in fact chose the correct Answer now the altcoin market and the Altcoin Reckoning is something we've Been talking about for quite some time It was actually in late 20 uh late 2021 That Bitcoin USD fell below its bull Market support ban and if you remember It's upon weekly closes below the bull Market support ban that the altcoin Market tends to get wrecked okay so this Started here in late November early December of 2021 and we put out video After video after video talking about How when Bitcoin goes below the 20 week SMA most all coins are just going to Bleed back to bitcoin especially when You get into a primary bear Market year In early 2022 we talked about how all Coins were too risky and then no matter

Really the direction of Bitcoin over the Long Haul the altcoin market would Likely go down we've put out videos About tips for navigating the bear Market and how the altcoin market was Just a very high risk play and after Coming out of a period of two years or So where all coins were going up we were Likely going to be entering a period Over the next 18 to 24 months that's What we said back then where the altcoin Market would likely systematically bleed Back to bitcoin and of course the US Dollar Now remember the altcoin Reckoning does Not refer to altcoin USD valuations Although that is of course an artifact Of a bear Market is that all USD Valuations will go down but you must Remember that the altcoin Reckoning Refers to all coins on their Bitcoin Pairs that's what it refers to okay and I will continue to scream this as as Long as it takes but If you hold a not coin if you buy an Altcoin it goes up 20 but Bitcoin went Up 50 that's a loss right because when You navigate crypto the correct way to Navigate it right just like drawing Fives you start from the bottom the Correct way to navigate it is to value Your portfolio In your in in terms of its Bitcoin Valuation the USD valuations are

Relevant right I mean it just simply is If you if you want to use Bitcoin as Sort of your reference point Um and and we know that Bitcoin leads The bull markets we know that when it Rolls over in the bear it leads Everything down Portfolio evaluations for crypto in my Opinion should be denominated in Satoshi's if you disagree with that Because you prefer ethereum then you Could value your portfolio in terms of Its ether valuation you could I mean I'm Not saying that I do that although I I Do that in a bull market right so in a Bull market I will value it in terms of Its Bitcoin valuation and its ether Evaluation but during the bear Market Year and during the pre-halving year Um it's basically I just value it in Terms of my Bitcoin valuation okay That's all that matters right so you Know if you come to me and tell me that You're all coins up 20 this year I don't Care you know I really don't I the the Bitcoins up a lot more and guess what if Bitcoin rolls back over and and the Summer lull that we've talked about I Mean it seems like it's happening right Now right but if it continues where do You think the all coin Market's going You can see what's happening right now Bitcoin's chilling here at 26k the all Coin Market just keeps going down and

I've said for for how how long now Liquidity is leaving and if the altcoin Market were so bullish then why does it Just keep going down You know all these all these people that Keep showing you these meme coins these All coins and whatnot Yo what's going on right if if Everything's so bullish why is total Three trending below it's 20 weeks to me Just like it did in 2019. You have to ask yourself this right you Have to ask yourself Is this the case now there's some people Out there I see saying that well it's Only happening because the recent Actions by the SEC guys we've talked About this for a year and a half right It's not just the SEC you know it's not I mean of course that's going to be the Narrative but it's not just the SEC all Coins have been going down against Bitcoin some of them have been going Down since like the middle of 2021 so Literally two years ago some of these Down Trends began so you can't tell me That it's just because of what the SEC Is doing today that's causing this Because that is is is not really an Accurate and accurate Um Outlook in my opinion right Now if you look at total three what you Will in fact notice is that it is only Above its 20 above its March Low by

About two and a half percent another two And a half percent drop and it's taken Out the March Low by the way some all Coins have already taken out Not only their March low some of them Have taken out this low too The all coin Reckoning continues now I Will remind you that it doesn't mean That you can't ever see them bounce back Up on their USD pairs in fact if Bitcoin Bounces good chance you could see all Coins bounce but look at this on Lower Time frames okay we've talked about this If Bitcoin goes up or if Bitcoin goes Down guess what all coins Get Wrecked on Their Bitcoin pairs look at the daily Time frame for total three and tell me What you see I'll tell you what I see But look at the daily time frame total Three Red candle green But this green one barely move it barely Retraced anything red candle green Barely retraced anything now go look at Bitcoin's Daily candles until and and You tell me what you see look at this Red green Bitcoin retraced the whole Move back up red green it's still Halfway on this candle right here so What's happening Bitcoin Is washing the altcoin market out Liquidity from here Is going into Bitcoin and ethereum and

US Dollars that's what's happening okay Liquidity Is just washing around from from lower Liquid assets to higher liquid assets From high risk assets To low risk assets now you might say Well Bitcoin is still high risk Completely agree it's a risk asset as Much as you might want it to be a Risk-off asset it's not in my opinion it Might be one day but it's not today and You'd be correct in saying the Bitcoin Is a high risk asset I would agree with That But it's not about what it is relative To other asset classes like the S P 500 Or like or like just equities in general Um it's not what it's in reference to Say gold or silver or or real estate It's in reference To cryptocurrencies Out of every single cryptocurrency Bitcoin is the safest one it faces the Least amount of regulatory scrutiny now You might say well that makes me a maxi And I've told you guys for the last 18 Months I'm not a Bitcoin Maxi I just Have my Bitcoin Maxi hat on because I've Lived through these Cycles on more than One occasion believe it or not and I've Seen what happens to the altcoin market During this phase They get decimated all coins get Decimated on their Bitcoin Pairs and it

Can last for 18 to 24 months and it can Even last longer for some some all coins Never stop bleeding against Bitcoin and That's a fact my friends that's just Simply a fact so when you look at total Three If The altcoin market is so strong Then why does it keep going down This liquidity here Is going into Bitcoin and ethereum Admittedly the reason I don't talk about Ethereum as much Um in terms of all coins bleeding to eth Is because I think eth is also bleeding To bitcoin which of course is a somewhat Controversial view right I think both Sides have have uh valid opinions I I I Just agree I I think it's it's more so Than ethereum's bleeding back to bitcoin But that's not to say that people who Took the reverse approach have been any Worse off I mean mostly the ethereum Bitcoin valuation has just gone sideways For the last two years so it's more or Less a wash at this point on the ether Bitcoin valuation but my contention is Is one thing that people keep asking me When will the altcoin Reckoning end when Will it end My response to that Is that it will end when the ethereum Bitcoin evaluation collapses that's my Opinion could I be wrong I could be

Wrong okay I've been wrong about plenty Of things when it comes to financial Markets but my guess is the collapse of The ethereum Bitcoin valuation will Mark The end of the altcoin Reckoning the Collapse has not occurred yet therefore Liquidity there's still sufficient Liquidity that's going from the altcoin Market to bitcoin and ethereum there is Still sufficient liquidity at this point Because we haven't seen the ethereum Bitcoin valuation collapse at some point Liquidity from the altcoin market will Be completely dried up But then at that point it will no longer Be able to support the USD evaluations Of Bitcoin and ethereum and then that's Where you see those go down and I think Ethereum liquidity will dry up before Bitcoin liquidity does which would send The ethereum Bitcoin valuation down So we have total three currently coming In at around 332 billion now I know what A lot of you are thinking you know is This a significant area considering that It was around this area that we got a Bounce back over here you can see that It went all the way down to about 322 Billion so about 10 billion below where We currently are And we also balanced at this level back In March of 2023 So you're probably thinking well hey Could we bounce again

Could you know we certainly could you Could see a bounce maybe not I mean Maybe a little bit lower right I mean if You look out at where it is Um where we bounce last this uh back in March 23 and then June of 22 it was all The way down to around 322 billion So could we see a bounce on their USD Pairs on the altcoin USD pairs if and When that occurs of course we could you Know one of the biggest things that I've I've dealt with over the last you know Year and a half or so is that we see the Altcoin market yeah we talk about how The altcoin Reckoning is is happening And it's continue it will continue to Happen more than likely and it does and Then at some point in the nebulous Future all coins rally on their USD Pairs not because they're bullish Fundamentally but because Bitcoin Rallied and it's just taken everything With it Um it's you know it's generous like that So yes right you could see temporary Rallies for all coins on their USD pairs It doesn't mean a thing if the Bitcoin Valuations are going down take a look at Total three divided by Bitcoin market Cap we've talked about this before right It's just a macro distribution phase You know the altcoin market is Systematically bleeding to bitcoin you Have I mean if you want to call it

Wyckoff distribution right first Peak Was in May of 2021 second Peak was in September of 2021 just before Bitcoin Rallied third Peak was in January of 22. Fourth Peak was in November of 22. Looks like a macro distribution phase to Me A lot of a lot of what we see in crypto Is very cyclical okay you know whenever We're up here no one ever thinks we're Going to go down here wherever we're Down here no one ever thinks we're gonna Go back up We're still in this phase where I think We're in a downtrend any given week who Knows what's going to happen Okay Usually you know usually you will see a Rally by the altcoin market just as a Sort of a relief rally right at some Point but it doesn't mean that it Doesn't mean that it's done they're done Bleeding on their Bitcoin pairs remember The altcoin Reckoning does not refer to Their USD evaluations it refers to their Bitcoin valuations the USD devaluations Of all coins are are more or less just a Given over the macro scale because most Of them simply go to zero some of them Survive most of them don't the meme Coins that were being launched a couple Of months ago by everyone and their moms Most of them are now going back down to Zero most of them are down 80 to 85 Percent already

Right they're already down And people aren't talking about it as Much so you have to be careful with with The meme coins right You have to be careful with them most of Them just sort of come in uh they launch People generate height influencers get Paid to generate hype and and then the Early people that got in on some you Know BS pre-sell they dump on everyone And then they just launch a new one and If you're not with them they consider You against them and they drag your name Through the mud but I'm telling you Those meme coins are designed to do one Thing and one thing only and that's to Suck in as much liquidity as they can That's what they're designed to do Nothing more Okay you know people should stop saying That Meme coins lead to Growing adoption That is complete and utter garbage no it Does not they do not lead to more Adoption if Moon coins needed more Adoption than wise total three in a Macro downtrend right if meme coins lead To more adoption then why are views Across all YouTube channels that promote Meme coins going down okay they do not Promote adoption they promote people Mo the majority of people to to get Wrecked that's what happens right and And some people swear by them because They try to get in early just so they

Can dump on someone else and then move On to the next thing right don't fall Off of these scams they're everywhere Don't fall for them honestly the best Thing you could do is just go enjoy go Enjoy your summer and and stop worrying About all these meme coins because most Of them are going to go to zero anyways Okay the ones that'll stay on the test Of time the cryptocurrencies that we'll See on the test of time are the ones That are actually doing something useful Bitcoin Is the clear case I think ethereum makes a clear case too Beyond that I don't know I don't know don't marry an Altcoin that's all I can say everyone Loves their communities for the all Coins but uh don't marry the altcoins Because you see what happens right you See what happens if you look at total Three in fact one of the interesting Things is that every rally by total Three so far has been in fact a 40 rally So from here to here about a 40 rally This one here was also about a 40 rally And then this one here Was also about a 40 rally Nothing's changed so far okay and I Think I think there's still a decent Chance that these things continue to Fade you know I put out videos on this Stuff every every few months and and

People have all sorts of reactions to Them then you revisit it a few months Later and it's just the all coin Market Continues to go down okay So try to zoom out you know during this Phase over here in this phase Um you know it it's easy for for people To sort of rationalize why the altcoin Market is strong on on you know a three To four week uptrend but then you just Sort of zoom out and you come back a Little bit later and and this is what Happened one of the things I told one of The things I said many times is that the Upside Target for the altcoin market This year Is the low 400 billion dollar range How many times did we say that right and I went to what 407 billion look at this The altcoin market is so strong why Couldn't it take out it's it's November High Right Couldn't even take that out Bitcoin took It out Easily I mean the look at this this is where Bitcoin this is the the November high For Bitcoin it took it out back in January If meme coins lead to Growing adoption Then why couldn't the altcoin market Take out The 2022 High the late 2022 High

You couldn't do it The quoted he's trying out that's the Reason liquidity is drying up and That's why we continue to talk about the Altcoin Reckoning now If we go through a couple of things here One of which is of course well how do You know when to buy all coins well First of all if you're asking me it's Probably too soon second of all Um one of the things that gets me in the Most trouble is that I I say this stuff Constantly and then we get a rally you Know a 10 20 reality and then the Pitchforks come out but then you just Fast forward a few more months and you See what ultimately happened Remember this remember this As long as the dominance of Bitcoin Right you knew I was going to work this In right as long as the dominance is Below 49 then we are just in a holding Pattern okay this is trending higher This is turning higher you know some People are saying things like well the RSI is overheated you know just as a Counterpoint to that I don't really Think using the RSI for this stuff is is Worthwhile legitimately at all but if You did want to use the RSI consider This fact that in 2019 the weekly RSI Spent months at levels higher than where We are today months at levels higher Than where we are today

From July mostly until September we and We were mostly at those levels that are Again higher than where the weekly RSI Has been At any point in 2023 So I would still say Um you know there has been some Consolidation here look at the um if you Look at the daily RSI of the Bitcoin Dominance By consolidating for the last two and a Half months it's it's allowed to cool Off a lot so I do think it's ultimately Going to be gearing up for another big Move to the upside and remember it's Upon the break of the Range High that Then the altcoin Reckoning gets into its Pin ultimate stage the second to last Stage occurs once the Bitcoin dominance Breaks the Range High hasn't happened Yet right when's it gonna happen I don't Know I would have thought it would have Already happened by now but it hasn't Happened yet but the great thing is that It hasn't because it hasn't happened yet It's made you know navigating crypto in My opinion very simple right and and That is if you really want to invest in Crypto There's Bitcoin and then there's Everything else that's bleeding to Bitcoin during this stage that's not an All that doesn't go on forever but we're Just in that stage where it is going on

So it makes it it makes investing in the Asset class relatively simple but once You break this level This 49 level once it goes then you have To start thinking about okay well how High is it going to go before it finally Cools off and then you start to get into The final the final stages of of the Altcoin Reckoning to go through a few Examples right and by the way one thing I want to remind people of is again this Does include stable coins if you exclude Stable coins as I've said Bitcoin Dominance excluding Stables just keeps Putting in higher lows since May of 2021 It's just one Higher low after another And you know I mean people have been Trolling me about the Bitcoin dominance For the last two years but all I see are Higher lows okay so it kind of seems Silly to you know to sit around and Think that the dominance hasn't been Trading higher when it's been putting in Higher lows for legitimately two years Now and where is that represented well Go take a look at the altcoin market You know if you look at a lot of these All coins they're bleeding Systematically on their Bitcoin Pairs And we've talked about this for a long Time Ada Bitcoin look at this it's Already putting in new lows from March Putting in new lows right now it's at 1159 satoshi's I've said many times that

You know going into this summer we're Likely going to see it probably go down To 800 satoshi's but I could see it Going to 400 satoshi's before it's all Said and done now maybe it goes down Here And then maybe this move down here could Be on a Bitcoin rally but I'm telling You I mean you know back in 2019 I Didn't think it was going to go to 400 Satoshi's and it did Now look what's going on now bitcoin's Holding steady at 26 and a half 80 USD Just keeps on dropping About to take out its March low which Keeps on dropping us at 30 cents Bitcoin's going going sideways 80 USD is Going down Ergo Ada Bitcoins going down 800 Associates probably is my is my Thinking this summer Dot Bitcoin Coming into these lows from December 2020. you know this is one of those that Has been legitimately essentially down Only for the most part Um but it's down 81 percent against Bitcoin so you have you know you have Its USD pair which is down itself 91 so think about this for a second Dot USD is down 91 from the high Bitcoin USD

From at this current time Is down 61 so dot went down against Bitcoin by 80 something percent even Though that's something being measured Also went down 61 remember just because An altcoin goes down 80 doesn't mean it Can't do it again and you see that we Talked about this so many times and you Can see it happening look at dot it's Down 91 but look at this first 80 move To the downside right it had an 80 Correction And from that point It had another 62 correction so far Right now it's down to about 54 percent Go look at Ada USD Right from the highs you take it down Eighty percent that gets you to 63 cents Another 80 down from there Would get you to 12 cents 12 and a half cents I'm telling you guys it's possible look Last cycle 80 USD it went down 80 Percent and then after it went down 80 Percent it went down another eighty Percent and after it went down another 80 it went down another 67 percent So you know there there's a lot of People that just think that like it has To be over because it's already down 80 Percent but as I've said just because it Goes down 80 percent doesn't mean it Can't go down 80 again doesn't mean it's Done

So you have to be careful with the Altcoin market you have to be now a lot Of times someone will say well you know It's it's it's difficult selling all Coins when they're down this much guys I'm not recommending you do anything Specific I'm not I've been giving These Warnings out for a year and a half so That you wouldn't be in the situation so That you wouldn't be sitting here having To make that decision that's why we talk About the altcoin racketing all the time It doesn't make me any friends in fact Most most people just troll me for it Right but I'm telling you I've lived Through this multiple times and the People that continue to promote you know All these things is as you know as as Going up and whatnot to new highs where Are they going to be if they all put in New lows okay 80 USD approaching 30 cents dot is at Five dollars link is at less than six Dollars you know this is one of those That the more it tasks this down you Know this area down here I mean Eventually it could it could break right You could all you could have also said The same thing for the upside because The upside was more or less at nine Dollars but this rap this last rally Didn't even get to that level right I Mean or maybe it was slightly higher About almost ten dollars this last one

Sort of stopped right just below nine Dollars and it's it's coming back down So avax look at it it's getting it Already took out its March low right So you have Avalanche which already took Out its March low and it's only Another 22 drop 23 drop away from Putting in a new low on its USD pair now Again The Bitcoin valuations are more relevant Ada Bitcoin Down 17 this week Dot Bitcoin Down three and a half percent this week Down 81 since the highs link Bitcoin Down five percent this week coming into The prior low you might be tempted to Say well does that mean this is going to Hold could it hold Maybe but guess what if you thought that If you thought drawing a line across From its May low it's summer 2022 low as As a reason for it to bounce Ave Bitcoin Didn't get that memo You draw a line over to its Melo You can see it it already went below it Already went below it back tested it and Continues down so Ave Bitcoin didn't get That memo What's a lot of Bitcoin doing the same Thing it's been doing for the last two Years basically going down against Bitcoin And every single time it gets a pump

Back up everyone gets excited And then it just Fades so a lot of Bitcoins down almost 14 this week look What's been guiding the salon of Bitcoin Valuation down for the last Um you know year and a half The bear Market resistance band it's Guiding it to the depths okay BNB Bitcoin Down 12 this week Litecoin Bitcoin Coming up to the bear Market resistance Band The Litecoin having is coming up in August but remember Litecoin USD Normally peeks out before it's having Yellow lines are the halvings for Litecoin Does Litecoin rally after the having Or does it rally going into it and then Peak out early it normally peeks out Early normally it finds its high Whatever it's going to go to in June or Maybe the first week of July it's June Now and the market risk remains High the Idiosyncratic risk of Litecoin is that Of course the upside potential is based On the having but the market risk of the Entire asset class is still quite High Especially with all this regulation and So I don't really know what litecoin's Going to do but whatever it's going to Do I would expect it to do it within the Next few weeks and then likely fade for The next several months after that just

Like it did in the second half of 2015 Just like it did in the second half of 2019 just like it'll probably do in the Second half of 2023. you know this time Doesn't always have to be different it Could just be the same thing maker Bitcoin continues to go lower Theta Bitcoin continues to go lower I mean Look at this it's down it's down almost 90 percent Avax Bitcoin we talked about this one as Well right just in a in sort of a Descending triangle rejection below back Test the bear Market resistance band Rejected new lows Continues to go lower Matic Bitcoin down 13 14 this week we talked about this by The way in one of the all coin Reckoning Videos back from you know early 2023 Saying that this is likely just some Macro distribution phase Looks like it to me Now I want to talk about something else Because many of you Disagree with me about something And not something is the ethereum Bitcoin valuation and who am I to Discredit your opinion considering that For the last two years the ethereum Bitcoin valuation has gone sideways but Here's the thing we have all first of All I do still think ethereum Bitcoin Valuation will go down second of all The thing we have to consider is

Something I've always said Ethereum's a blue chip Ethereum is a Lucha okay Bitcoin is safer I think Bitcoin is a Primary Blue Chip but if you had to pick A second one It's ethereum The data backs it up Because guess what all these all coins They're bleeding to bitcoin for the most Part but guess what else they're also Bleeding to eat look at Ada ether you Know we've talked about this potentially Being I've never I've never been super Sure is it in a you know is it an Oscillator or is it a bleeder right is It a bleeder and and right now you could Start to make the case and it's a leader I mean it's down 17 this week If it's if it's in this say a channel Like this If it's in a channel like this Then what does that mean it means you Can see a to Ether fall another 30 Percent or more Which is significant I mean that's a Significant drop Ave ether What is there to say you know Down 90 percent Again you're not going to make friends Telling them that these all coins are Are going to the depths on their Bitcoin Pairs and their ether pairs but

This is not you know this is not the First time it's happened look at this ah Avax eth if if it wants to be an Oscillator Big F it could still drop another 40 Just before we get to the point where we Figure out if it's an oscillator or not Ada might not be an oscillator on its Ether pair it might not be I don't know Yet I don't know if this is just a wick Down and that ether is going to Capitulate tomorrow or if this Legitimately is a bleeder I don't know but I'm prepared to think That it might be a bleeder I don't know Yet we'll have to wait and see be Open-minded dot eth let's say a few Words okay I mean this thing has just Been going down March 2021 it's now down 89 remember This is not DOT USD this is dot ether Ether is is is well down from its All-time high so you have polka dot Which is down almost 90 percent against Something that also went down a lot That my friends is the altcoin Reckoning Okay that's how badly they can get Wrecked look at BNB ether we talked About this one too we talked about how It was likely to double top uh ever Since then you can see that the BNB eth Evaluation is is capitulating right it's Down 12 percent So what do I think is happening we

Talked about this a long time right Liquidity from the altcoin market it's Being sucked up into the Blue Chips Bitcoin and ethereum I think that eventually this liquidity From the Auckland Market will dry up now What does that mean well if you think About it you know if if people go out Today because they have their Cryptocurrency on some nebulous exchange And they're like all right well I gotta I gotta sell it and they go to USD and Then maybe they put it in their bank Account or they put it into Bitcoin or Ether for a time there is sufficient Liquidity that can come out of the Altcoin market right because the all Coin Market has just been overvalued for So long so by selling all coins and Going by Bitcoin going to buy ether or Just going straight from that altcoin to Those blue chips that can provide Support for those blue chips to stay Elevated on their USD pairs for some Time the issue is at some point the Altcoins become such a shell of their Former self that even selling them isn't Going to provide much purchasing power In terms of Bitcoin or ether right like Maybe maybe someone goes and sells the Raw coins but they're already down 95 Percent so by getting them and then Purchasing the Blue Chips you're not Really going to be getting a whole lot

Because the the altcoins on their USD Pairs went down during a period where The the blue chips on their USC pairs Are up or sideways So eventually liquidity is drained and Then The Blue Chips they go down to And then they crush the altcoin market Which is already down So that's how it normally plays out and You also have link ether which is I mean I I mean I don't even know what This I mean this is just I mean it's Just a systematic bleed I mean this is How many red candles is this in a row For link ether this I mean this is Legitimately 10 weeks in a row of red on The link ether evaluation So Where does it all end where does the Altcoin Reckoning end In some sense For some for many altcoins The answer is never Okay Look at some relics from a prior cycle Look at say like Dash Bitcoin Could you look at this and say that it Ever ended You might say well no Ben this is uh This is you're just measuring it from The Peak at all in guys this is not the 2021 Peak The 2021 the 2021 is here

This was the 2017 Peak the early 2017 Peak the reality Is that many art coins The bleed will never stop on their Bitcoin valuations it will just simply Never stop Look at this chart legitimately just Look at it Dash Bitcoin A Relic from a prior cycle It's down almost 99 percent Okay as a measured from 2017 until the Beginning phase of 2020 it was down to 95 percent you might have thought hey 95 That's a bargain since then it's still Down another 70 percent The altcoin Reckoning for some lot coins Will never end okay I just won't The way that you navigate crypto during The bear Market year and the prehabbing Year for the most part is you just don't Worry about the altcoin market you let It do its thing you go out you touch Some grass you wait for the dominance to Break Higher One Day it probably will And then you just you know you you go Out and you see what all coins have Survived and then you can and then you Can sort of talk about them but you can See just how badly some of these Get Wrecked look at Monero Bitcoin A Relic as well right this is a relic You might say well hey it's not doing so

Bad from his 2021 Peak but guess what This Is a 2021 Peak This was the 2018 Peak back over here Now the bleeding has sort of stopped on This one for a little while right it's Been arguably going sideways Um for for a couple of years but the Point is that it hasn't really ever gone Back into a sustained uptrend There's so many more cryptocurrencies Like this there's so many more that they Just bleed on their Bitcoin pairs Forever Some of them won't some of them will Likely recover at some point and there Will probably be a Class A new class of Cryptocurrencies that will come out at Some point and and people will talk About those but the all coin Reckoning Is a serious thing you should not laugh At it just because you know because you Think that oh well if your altcoin's Already down 80 it can't keep dropping The altcoin Reckoning can go on and on And on and on and it's only until after The dominance Range High is broken that All coins even even get to the Penultimate stage of the altcoin Reckoning which hasn't even happened yet So These are Extremely important considerations to Make remember total three market cap

Divided by Bitcoin market cap it looks Like an oscillator at best to me and Needs to come back down Okay So where does it end Well for some it never will For others it will And where I think it ends I've been clear about I think it ends upon the collapse Of the ethereum Bitcoin valuation that Is what I think you have all right to Disagree with me and I respect your Opinion if you do okay I just I have my Opinion as well and I think that this is Going to collapse and Um probably come back down here maybe Bounce back up and then and then Plunge When is it going to happen I don't know I would have told you five months ago Okay but there's there's there's there's Been a lot more resilience in in Ethereum than I thought there was going To be It doesn't mean that it won't eventually Break back down okay even last cycle you Know from from these levels right from You know when it when it finally broke Down you can see there's three distinct Times right exhibit a b and then we Broke it on the third or maybe the third Was not broken it was the fourth that Broke Here if you want to if you want to look

At it in the same way We have Sort of your first one When did the second one occur did it Occur right after it no It occurred over a year later 50 about 54 weeks later or so Something like that We're currently at week 50 or no 51. So I I still do think that we could Easily see the devaluation of the Ethereum Bitcoin valuation and it will Likely be the collapse of the ethereum Bitcoin valuation that should Mark the End of the altcoin Reckoning but it Hasn't happened yet and arguably until It happens Um the Bitcoin dominance you know Continues to sort of consolidate just Below the Range High at some point I Think ethereum Bitcoin goes down Bitcoin Dominance breaks out the altcoin market Bleeds to USD it bleeds to bitcoin and The dominance goes you know to 60 or Something And then we can and then we can talk More about about altcoins this is the Altcoin Reckoning we've talked about it For a long time I've I've tried to be as Open and honest as I can be with people Again You know outsized gains are created in The altcoin market during a bull market Extravagant losses come

In the bear market and the pre-having Air with all coins okay Now there's other ways to measure this Too if you look at if you look at um if We measure from Peak to bottom for Ada Last cycle look at this It still wasn't over so it's not even You know so it's not that this time is Different it's not it's that this time Is the same to a large extent Look at the Ada USD bear market last Cycle We're currently at day number from Peak We're currently at day 645 or so last Cycle it didn't end until day 802. you Know you're talking about another half Year of this almost Maybe not quite but it may around that And you might say well bad it's not fair We had a recession last time we had the The pandemic drop guys we also have the Same risk this cycle it's not the exact I mean it might not be the pandemic risk But we have an inverted yield curve just Like we have in 2019 and we could get a Recession and late this year early next Year and it could resolve in the same Way where the final capitulation of all Coins on their USD pairs occur during a Recession By that point they could have already Bottomed out on their Bitcoin pairs Right there's a chance But last cycle this went on for a long

Time Ada was putting in new lows even in The having year so you just we need to Remember this aspect of it okay Um and so I I will continue to say that That is is what I consider to be the Most likely outcome that the altcoin Reckoning will continue and the Definition remember is all coins bleed On their Bitcoin pairs USD pairs are Relevant to me okay I still think They're likely going to go down and many Will put in new lows but they're Relevant you might and you are Irrelevant and you might say well Ben What all coins are putting in new lows Well I'm glad you asked okay there's Plenty of them why don't we start with The letter a right algorand guess what New lows New lows already December lows were taken out In fact from its December low It's down 23 percent From his December law There's plenty of coins plenty of Cryptocurrencies that are putting in new Lows as we speak on their USD pairs Total three has not yet but I still Think there is a good risk a good chance That it will Put in new lows and remember total three Could put in new lows Even if Bitcoin doesn't Right even in a world where Bitcoin does

Not put in a new low let's say it puts In a higher low or a double bottom Total three could still put in a new low And if Bitcoin puts in a new low in a Recession because the FED doesn't print Because inflation's so high and they say Not yet not yet not yet if Bitcoin puts In a new low Where does that leave the altcoin market Right nowhere good One thing I think to think about a lot Is with Bitcoin is you know it almost Tested the 2019 high and it could still Test it I mean it could still test don't Get me wrong it could legitimately test It could go back down to 14K but this is Something I think about The Bitcoin came within 10 of its 2019 High The altcoin market which has been Bleeding a lot Right Would need to see a 69 drop from here to Test the 2019 low now I don't know that I'm that bearish on The altcoin market one of the reasons is Because total three includes stable Coins So it would be somewhat reasonable to Remove that from the equation The stable coin Market Mostly is is usdt plus b which well BST Is going is going down right Um the market Capital that's going down

For a while uh you also have the eye Which is pretty small and then we also Have Um What is it a usdc right uh so it's Crypto yeah and then ustc So this is the altcoin market And it's going down too So let's go look It's now out of 116 billion so it's Basically Taking out its March low right isn't it Interesting how the stable coin Market Is taking out its March low around the Same time that a lot of all coins are Taking out their March lows Right the low back in March was 116 Point Two seven below here 116.23 so we Already took out the March low and it Looks like it's still trending down so If you look at this though it's about 100 billion and you know I mean it Started at 150 billion it's at 116 Billion give it a few more you know give It six more months it'll probably be at 100 billion so a hundred billion of Total three is the stable coin Market So if the stablecoin market survives Then you could you could argue that We'll add a hundred billion to this so This is at 100 billion right here at 100 Billion 200 billion

So 200 billion Is here so if if the altcoin market were To visit that level it would still be Another 39 drop from the current levels Furthermore it would be a 30 drop from The prior low a 30 drop from the prior Low For the altcoin market This initial drop Was about a 75 74 drop or so So a lot of things to take in right I Mean the all coin Reckoning is a serious Matter I hope people have been able to Uh protect themselves as much as they Can I know it's hard because there's a Lot of bear Market realities in the Altcoin market they suck you back in Only to roll over and and and get Everyone wrecked once again so please be Careful out there please do understand That I'm only telling you guys this Because I have been wrecked in the Altcoin market more times than I care to Count I'm not here standing on a Pedestal acting like I'm I'm better I Just I'm I'm here saying guys listen I have been in crypto for a number of Cycles and I have been wrecked on the Altcoin market more times than I care to Count and I would prefer to sit out of Alts during the bear Market year and the Pre-halving year for the most part And just wait it out right wait it out Because I don't like getting I don't

Like getting wrecked in the altcoin Market it's happened enough and you know At some point enough is enough so please Understand my goal with these all coin Reckoning videos over the last 18 months Is only to inform you of experiences That I have had it's not to say that it Has to play out like this although it Has it has been playing out pretty much How we generally thought it would Um but it's to say this is what's Happened in the past the altcoin market Sucks in that liquidity and then it and Then it it it just sort of moves on Remember 2019 we had a mean coin rally And guess what Bitcoin came back down And crushed the entire asset class It's a lot of things a lot of things to Think about when it comes to to the Altcoin market and the risk in the Altcoin market if you guys like the Content make sure you subscribe give the Video a thumbs up again we do have the Sale at into the cryptoverse premium at Into the and hopefully At least one person will start drawing Their fives From the bottom we'll see you guys next Time bye


Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.

Leave a Comment

    • bitcoinBitcoin (BTC) $ 66,575.00 0.68%
    • ethereumEthereum (ETH) $ 3,590.42 0.77%
    • tetherTether (USDT) $ 0.999671 0.03%
    • bnbBNB (BNB) $ 608.94 0.45%
    • solanaSolana (SOL) $ 147.84 1.84%
    • staked-etherLido Staked Ether (STETH) $ 3,588.75 0.7%
    • usd-coinUSDC (USDC) $ 1.00 0.03%
    • xrpXRP (XRP) $ 0.488199 0.42%
    • dogecoinDogecoin (DOGE) $ 0.136127 0.32%
    • the-open-networkToncoin (TON) $ 8.05 0.53%