The Crypto Market JUST Flipped (PREPARE NOW)

I've flipped after the banking bailouts To a buy the dip mentality a DCA Mentality uh whereas I had been a full Defensive mode mentality before and that To me was a change today I interviewed Crypto expert Elliot of elio trades we Talked Bitcoin versus ethereum what's The better investment top altcoins Besides eth what's Ellie looking at of Course we do an eth price prediction but Before all that Elliot what's your General view on crypto today uh my General take on crypto is even though We've seen some pumps and we have seen Some lights here uh it's not all just Been down only there's been some Positive months price action wise it There's it's hard to deny that it feels So 2019 in the way that the sentiment of The community is very very negative uh And I feel like that is just a symptom Of the bear I mean we met and became Friends in 2019. and at that moment uh There was pretty much no real optimism Left in the room towards all coins uh And it was very much so uh people were Just didn't believe that the tech and The narratives and all these things Would play out and you know looking back It's it's hard to deny that staying Optimistic sort of as people capitulate And as people really get over it uh and Really start to leave the industry is is One of the key sort of defining

Characteristics of people who dwell in Crypto uh and so I've sort of taken some Of the tea leaves I've been reading and Some of these sentiment analysis and It's made me excited uh because I Promised myself on the second go around Uh in this bear Market I wasn't gonna Fall for it again and get sort of lose My optimism my excitement and that's Where I think we are is where even Though there's been a bit of pump like The negative news the overall lack of of Just sort of bullishness in the market Um in your favorite project whatever That might be that just wears people Down and eventually you see people Jumping into sort of quick fix stuff Like meme coins which I know we'll we'll Discuss at some point later but uh it's It's a natural cycle it's not the first Time this has happened it won't be the Last time uh it's just how the market Grinds you out of high quality stuff and Eventually sort of pushes you into uh Low quality stuff and the the money Transfer to the patient long-term Hodlers uh takes place Dude are you worried about macro because Bitcoin's ticking along as it should but Do we have more to come with this Banking crisis Well so so the real question is with Macro what matters and the the thing That I think is most important is

Liquidity in the markets and so what we Saw with the banking crisis is that the FED is not only like raising rates but They're removing liquidity and that like That lack of liquidity is causing cracks To show we have a debt crisis right Where the banks everyone's underwater on Debt and a lot of these uh companies Have have issues with their balance Sheets and not all of them are going to Be able to weather this storm uh because When you give people free money well you Get stupid outcomes usually to quote Stanley drucken Miller and we've given a Lot of free money for over a decade and Then we decided to take all the debt in The system and make it really expensive So that's a very very tough uh situation To be in for the banks and for a lot of Companies uh Warren Buffett came out Yesterday and he essentially said in so Many words yeah we're waiting for an Amazing company to call us uh and just Say we can't deal with it and we're Going to buy them out at a fire sale and So that's what like the big investors Are waiting for these high quality you Know businesses to essentially go under For not not really fault of their own But because of this changing environment And uh and they want to pounce on it They smell the blood in the water and They wanna they wanna get a good deal And so that's how uh the big boys are

Operating uh and it's really a crisis Created by the FED that the FED will Solve in the way that they know how uh So am I worried about macro I'm actually Quite enthused by the way macro is going Because I think we've seen a little bit About where the Flora is uh with where They blinked on the banking crisis I Don't think we can go too much lower Than that in liquidity so when you look At like the total money supply out there In the world you saw it like bounce up Like crazy when they did the banking Bailouts Um that's what I think look that's what I think Bitcoin responds to more than Interest rates more than you know any of These other metrics Bitcoin is a measure Of like the total amount of money and Liquidity out out there in the markets And I think that we've seen kind of the Floor there so as we go and start to Revisit the lows if that's where we're Headed I've flipped after the banking Bailouts to a buy the dip mentality a DCA mentality uh whereas I had been a Full defensive mode mentality before and That to me was a change right I'm I'm I Don't have Crystal Ball but that's my Plan and I'm planning to slowly Accumulate now over the coming uh weeks Months and you know I'm prepared to do So kind of on through 2024 though I do Think that you know we should be seeing

The market structure change Significantly by then however I don't Know we're being told that you know this Market asset bubble is totally different All these you know legendary investors Are saying they've never seen anything Like the bubble we're in Um there's quite it's quite possible We're facing a new normal Um but I'm a big believer that we will See the banks get bailed out we will see Credit sheets and or balance sheets get Fixed Um we'll probably see a lot of banks Sort of become a lot less banks with Bigger Banks buying smaller Banks Um which you could argue is not great For the economy long term but the point Is at a certain point uh unless the Federal Reserve lets the entire banking System collapse We're gonna see either cheaper money With lower interest rates or we're going To see uh more money printed and more Money like liquidity out there in the World either way it's good for Bitcoin And what's good for Bitcoin is good for The rest of the crypto economy and so It's hard for me to Fathom uh an outcome Where the United States would would like Voluntarily let the banking system Collapse it's just terrible for uh for The whole Capital markets it's terrible For business across the world it's

Terrible for our reputation globally if We let the banking system collapse So it that won't happen that seems to me Like a less than one percent chance and And any other situation it's going to Lead to devaluation of the dollar or Cheapening of the dollar with lower Interest rates and that's good for risk Assets of Bitcoin So as you're watching the markets taking Out your positions in through 2023 into 2024 are you still more bullish on Ethereum from an investment point of View Uh the short answer is yes a long answer Is that I think they are both amazing Things to hold in your portfolio I have A nice stack of Bitcoin uh just in case Bitcoin catches like this new gold Standard narrative which is totally Possible Um I'm also just really bullish I think Ethereum is an incredible piece of Technology I think the tokenomics of Ethereum are super bullish how much it Is getting burned uh per block as Ethereum gets utilized Um I think it's Superior to economics in That regard to bitcoin and I'm not a big Believer that like uh ethereum is Vulnerable to Securities laws I think That's a big like concern for a lot of Bitcoiners is oh ethereum will be called The security

Um it's it's pretty clear to me that Um it's not and the cftc is sticking up For it in a lot of different Organizations are sticking up for it so With that out of the way Um you know you could argue that Ethereum won't work for Mass adoption That it's too expensive and slow and all That stuff and that might be true for Like video games or certain pieces of Technology but it's essentially the the Gold standard for decentralized compute And block space for for building gaps uh And for sort of I guess Outsourcing Decentralization I believe strongly that Ethereum over the next you know decade Plus is gonna head towards a six-figure Valuation uh and who knows it could Happen sooner or later um but that's Sort of my Baseline is I I do think that Bitcoin um is headed towards a million Bucks over time I think that ethereum is Headed towards a hundred thousand and if You do the math right now that's more Percentage gains sort of available And then at that level you can stake Your wreath for a five percent native Yield uh from the the proof of stake Consensus mechanism it's just a really Really nice system and uh and so yeah For a lot of reasons I love my eth uh it Doesn't mean I don't love my Bitcoin They have their place in my portfolio But for people I think looking to

Multiply a little faster I think eth Will give slightly higher returns in the Short term Let's say you have a thousand bucks you Put 400 into Bitcoin 400 into each you Have 200 left What other altcoins could you Potentially look at so I have 800 Deployed is that what you're saying and I have uh 200 left yeah so I believe That alternative l1s much like they were Written off Um you know like the cardanos and and Other coins like that were written off Last cycle I believe alternative l1s uh Will have their day in the light again Uh because as ethereum gets congested Which it will it becomes totally Unusable uh for the average user and so You imagine you know in the next run Millions of people flood in they're Gonna look at each and go I can't pay You know 300 bucks for a transaction fee Uh Wales will still do that because There's tons of value in doing that Because there are so many precious Assets there but the average persons Will uh the average people will flood to L2s and alternative L1 so those Narratives will become very very key so I'd be looking at uh l2's alternative L1s Um and just studying those ecosystems And looking at the top players there and

Of course during the bear markets you're Seeing fairly depressed prices across Those asset classes and so from the Bottom of some of those I believe you'll See some pretty astronomical growth to The next peak of the cycle I also think You know D5 is a little harder because It's become so diverse there's so many Projects Gaming's hard because there's a Lot of projects Um but I'm a big believer that uh that Gaming will be obviously the tip of the Spear for Consumer adoption Um and the right gaming projects will do Really well uh but yeah I mean I Probably think the easiest thing to do If you're just a casual crypto person Who just wants to sign on to the Exchange and pick a few coins and see What happens I think beyond the Bitcoin Eth I think you want to look at Alternative l1s and l2s and that's a Ethereum ml2s to be specific and that's A good place to start sort of getting a Little deeper And what's the status of your crypto Game when can average people play yeah So we're coming into open Beta Um and there's just an absolute monster Ton uh metric ton of updates we have Coming a little bit later this year and You know one of the things that's really Great about the bear Market is being Able to get products and services ready

For mainstream adoption uh and to you Know not have such a such an Overwhelming pressure of of super rapid Deliveries the way the way that I frame It right now is you know in the end what Matters is the next time that crypto Sort of has a mainstream moment we want To have Services products and Infrastructure that hold and retain the Weight of mainstream adoption Um and it's less about rushing something Out yesterday and it's more about making Sure that you build something quality uh I know uh just to share a little bit of An anecdote I've talked with some of the Most legendary game Executives and Creators in the world uh household game Creators and there's a lot of excitement And building going on in crypto gaming Not just on on my project which there is But on on other projects in the space One of the things that I think is really Important to understand is as projects Have success in crypto gaming it will Create a ton of interest in the sector And I liken this to being on the App Store in 2008 or 2009 which if you had An iPhone in 2008 or 2009 almost every App on the app store in that era ended Up as a wild success because there was Just so much attention and not so many Options and so as crypto gaming starts To mainstream and there's the first hit And the second hit and there's all these

Players that are looking for more crypto Gaming experiences all of that attention Will pour into the surrounding areas and So it's it's one of those places where You can kind of stake out your claim and Just wait for it to happen because Whether it's my project or some of my Colleagues projects or people who I Don't know Um there's going to be at one point I Believe uh strongly and this is what I've staked my whole last five years or So of my of my career there's going to Be a moment uh where I'm very convinced That crypto gaming will have an Explosive cycle and it's not it won't Just be focused on one game that there Will be certain choice you know super Winners as there are in every cycle I Believe it'll be something that is Wildly spread you know uh widely spread Rather across the entire sector and That's a really really cool thing to to Understand I call it a positive sum game Of crypto gaming because one person's Win does not equate to another team's Loss it's actually uh more likely that The other teams will succeed once one Starts to succeed and we saw the Beginnings of this with axi infinity and Then metaverse Mania as we called it You'll see that times 10 or maybe a Hundred on the next run I'm not a gamer but I had a chance to

Play your game in maybe the closed beta Whatever you call it iron blast social Deduction more fun than I ever would Have thought I'm gonna put a link to the Website down below Um I wanna have you we're going to talk About meme coins to a whole episode just On Meme coins I know you have opinions But final question Elliot a fun one by The end of the year will Bitcoin be Higher or lower than where it is today Oh by the end of the year that's a super Hard one uh it's a super hard one Because uh there's supposedly this Recession starting right in the next Quarter or so supposedly it might have Already started you're just hearing Investors that are far more experienced Than I Stanley drucken Miller Legends Legends of the investing Space Warren Buffett just sold all this stocks or a Big chunk of his stocks like people who Have seen more and have more experience Than I do are are looking at you know Tremendous downside over the next few Months I don't know so because I don't Know because I also don't know how Bitcoin performs in the context of a Recession where people expect for the FED to fire hose money at some point What does that mean for Bitcoin are the Markets going to front run that is Bitcoin gonna flash crash is Bitcoin Going to stay at depressed prices I

Don't know I really don't know so my Strategy is not to pretend that I know But it's to steadily accumulate I would Say that if I were to guess we'd Probably be somewhere similar to where We are right now at the end of the year I'm not expecting for major price growth Until you know after the having if not Maybe a few months after that kind of Similar to what we've seen in the past And that would give time for there to be You know a reset of some of the Financial indicators that the FED looks At and a justification for them to say Okay inflation's down uh jobs uh jobs You know unemployments down or up rather The job sector is less tight there's Less job uh salary inflation going on Services inflation the things that the Fed's looking at to decide when they can Turn on that spigot of money again and We know they're going to right and so That to me mixed with uh some time for Bitcoin to do what it normally does Which is the four-year cycle The Happening Etc that is uh the sort of Combination of factors I think that make The sort of late part of 2024 where I Would start betting on there being Higher prices uh for now I don't know How 2023 is going to gonna end and That's why I'm not doing any sort of Major plays I'm not putting in you know 30 40 of my liquidity at any one spot

I'm putting in you know single digit Percents of my liquidity uh at you know Repeatable uh moments