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I've been calling bigco hit twenty thousand, so so was that like fifty five If Michael Sailor gets margin called, what effects could it have on the broader market in terms of crypto and what kind of like contagion level event could we expect for those who like retail investors in it.
Well, the eighty five percent drawdown number is ten thousand, three hundred, and that's the dirty number that we've been saying, and people don't like hearing that.
And I made a tweet on Twitter. It's my favorite place of tweet on Twitter. We made that joke.
But I made a tweet back in January and I got crucified for it. I said, if you don't think bitcoin can go below twenty k, then you must be new here pepre like what an idiot bottom is in.
You know, price is.
Definitely going up now when you've got the YouTuber saying that it's not so funny right now, is it? And no, and you know we have been Twenty two thousand is a very important number because that's where the two hundred week moving average is, and when you look over time, it's always.
Hit the two hundred week moving average.
It has wigged down to the three hundred week moving average before, which I don't quite know what that number is off the top of my head, but twenty two thousand could be a potential for a bottom. But we targeted twenty four thousand, five hundred would kind of be the first level and now he pierced through that. Now we're looking at twenty two thousand. After that you go
to the psychological level of twenty thousand. After that strong support at seventeen thousand, then you have fourteen thousand, ten, and then under fourteen. Now you're going down to ten and then after that, like all bets are off the table. So the answer to your question is, I'm not worried about Michael Sailor if the price gets to twenty one thousand, which is a margin call point, because they're.
Going to add more collateral.
You know, they can add more to keep from actually getting liquidated there, they can add to their position. I'm much more worried about Michael Sailor if the price does drop down to ten thousand. And when you look at what the attack, that's Citadel. I do believe some people are saying, oh, you know, it's not actually true. Citadel and Black Rock are the ones that moved against Doaquon.
They moved against absolutely, There's no question about it. Who else got that kind of money and power to do that? So they went after do Quon, they went after Terror Luna, they went after Ust And I'm kind of afraid that right now, we are start, We're gonna see any vulnerability that exists out there in crypto. These people are going to be attacking. They're gonna expose them. And the truth is they need to be exposed because if you have
a big vulnerability, it's always going to eventually get exposed. Well, let's go into it now while we're in the bear market and get it over with instead of stopping a big bowl run down the road. But I think when you look at Michael Sailor what I'm a little concerned about, and I like, like, I'll be honest, I know I so somebody said I think that y'all are gonna go after Michael Saalor or some some point. I like him personally. I think he's genuine. I think he really does love bitcoin.
I have said before he's newer, so there's been a little naiveness as not being through a full market cycle, which he's experiencing now. But I'm a little concerned that people with much bigger pockets than Michael Sailor are going to find whatever that number is that he can't add more.
To that position.
Some people are calling for seven thousand or thirty five hundred, like these are numbers people throw out there. I don't think we go that low, but I'm I'm more nervous about someone directly attacking that number to push it down to liquidate him. So I don't know what the number is that he couldn't bear anymore, but that's probably what they're going.
To talk calculation.
The number is ninety eight and fifty six.
That's so close to ten thousand, three hundred.
It's like where they woul knock them out. Yeah, I truly believe when I said it with Kathy in twenty twenty, anytime we have any superstar investors, it feels as if the top institutions wants to knock that person out of facially and they begin aggressively attacking their positions. I hate that he's just the next one that got caught up in that. Why do you think a lot of retail investors don't believe technicals don't matter in bitcoin or crypto?
Yeah?
Well, I think that it's just data rights, it's the length of data that we have. But when you really look at technicals, you look at charts, And I'll be honest with you, like I'm not a technicals driven person. I'm much more fundamentals We have a great technical analyst here a bit with Cruder. We got sixty employees here, so we run really deep. We got experts in everything. But for me, like charts are just kind of boring to me, if I'm really honest with you, I don't
have the patience that is down. I've done a lot of training before, actually a leverage training. I turned eighty thousand into a million last January. You know, I said,
I'm doing that's what I'm out bitcoin. Okay, yeah, well it so I have a bullish bias, like I just know that about because really you can't be in this crypto space like I am and not have a bullish bias to see all the things behind the scenes that go on, you know, where this is going down the road, and so when things are go short term badge, you're like, I don't get it, you know.
So for me, it was just perfect timing.
Because in January things were really going up and in February as well, and so my bullish bias kicked in and basically whenever we had a dip, I was just going long and I I was using irresponsible leverage.
I was doing like twenty five x. But uh, you know, it was very irresponsible. No one else do this, no one else do this, you know.
But the quantitative easing was still on the table, so it was and you.
Guys hit that on the head. I heard what you guys said before I came on the show. You guys hit that on the head. You look at the quantitative easing chart compared to the tech stocks, it's the same chart.
It's insane. That's where all the money wins.
So but the truth is I am smart enough to know that the technical do matter. It doesn't matter really how much data you have.
Charts or charts.
Charts are the psychology of human behavior. It is the decision making of earners.
What's up?
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The person based on the lane last price action. It goes all the way back to Japan and you know Hikina sheet candles and rice trading. It's human psychology it's it's not rocket science here, you know, and so people are generally going to behave certain ways, and you know
how you know that's true. Everybody's depressed right now, you know, everybody's even those of us that have been through this and and we're like, you're super ogs when it comes to going through these market cycles, like it doesn't feel good, you know, especially for people that got in crypto laid and like, I know, I'm sure that you guys feel responsibility to your audience like I do, absolutely, and when you see other that your people are hurting, and you
know that like, Okay, we know they're going to get through this if they stay here, but you know a certain percentage of people are gonna leave. And that's really really sad. That proves the emotions that exist within a market cycle. And so the technicals do matter because the emotions matter because we all go through the same experiences.
Let me let me ask you this XRP. Ripple. I watched the post on Instagram that you may always said that they turned down a settlement in the SEC and he was very you know, he was very passionate about shit delivery on that. Yeah, can you talk about you know, a lot of XRP Army, can you talk about that? What does that actually mean and what's your thoughts on XRP.
So it's very interesting.
Basically, last year, towards the end of the year, or no, not towards the end of the year, like right around the May crash, I got in touch with this guy who was we called a mixed mister X on the channel. He's got to reach out to me and gave me a lot of good information. It all turned out to be true up to a certain point. He told me the market was definitely bouncing back in the middle of July.
We literally got down to the last day of the middle of July, which was like the twentieth, and sure enough, it did exactly what he said it was going to do. He told me about a lot of the China bitcoin mining stuff before it happened. He told me they were moving to Kazakhstan. All of a sudden, all these stories start coming out, and so it was really really good information.
For a time.
He said one hundred K was in the cards by the end of the year. That didn't happen. He told me the XRP case was going to be settled by the end of September, and we talked about that on my channel and.
I got crucified because it didn't happen.
Did you guys know that when you make calls and things don't happen the way you think they do, especially if it's kind of based on information and it's not, you know. And we kind of got a little lazy towards the end of the year because I started leaning too much on that information because it seemed good, instead of doing what we're good at, which is analysis. But the point is is it is very interesting Jed mcaleb, who was formerly with Ripple, he was one of the founders.
He actually split with Ripple right around the time of the token sale, and he's sold XRP out a huge settlement. No one has made more money on Ripple than Jed mcaleb. I think it's about a billion dollars that he's made where Brad garling House and Pristal Larson I think about five hundred million was what was in the sec lawsuit. So the point here is in September he stopped selling
for the first time. He didn't sell in September, he didn't sell in October, he didn't sell in November, he didn't sell in December, he starts selling again in January.
And something is not making sense to me.
Because I'm like, this case is supposed to be over All of the news stops right about the beginning of November, all the news stuff.
We got no news from the case right November to February.
Well, this weekend at Consensus, a big conference, I spoke directly with someone who I'm very close with, that is someone I trust one hundred percent would not make this up. And I can't say where he got this information from because it would expose him a little bit.
And that's why.
But he told me straight up that last year, straight for the horse's mouth, he heard this that Ripple turn down a settlement. I think the information we had was good. I think this was going to end last year. But it's really actually good for the market that it didn't because everything was so overheated, it probably would have been cut short. This may work out better for the price, actually, because I think it's gonna the suppression of this bull run is going to make Ripple.
Go to the moon, as we say in the next bull run. Yeah.
But but the truth is is that they have the sec by the balls right now. You know, in every single month it looks worse and worse and worse for the se as. He see that, right, And the reason and they made that decision was because they said, point blank, we have them and we are going to outright win. So we have been pushing the idea of a settlement for a long time. I no longer believe that. I believe that the SEC is going to get totally defeated.
And not only that, but after this case, I think we are going to see a major overhaul in what happens at the SEC. Because you've got to understand that towards the end of this year, if we look at our current economic situation and we look at these mid term elections coming up, you have to understand, if we're in a recession, there's no way we don't get big changes in what's going on in Washington, because that's what happens when the markets are down.
And if that happens, I think.
We will see some people going directly after the SEC and we will get changes to that organization. That SEC is the most crrupt organization in the history of the world.
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