Bitcoin Price Has Been Dumping For Weeks Now...But Have We Found The Botttom?

the signal. We gotta kind of pull back the covers on this and so I try to help you with that, bring bring you some of the latest breaking news around around the world so you can stay up to date on what's going on, and of course bring to you some some interesting guests so you can listen to and right now, you know, we're gonna talk about some of these big news stories so we can kind of understand what's going on in the world today. I think it's um there's a lot going on. And lately what's been

going on is the markets have been crashing. The stock markets have been crashing, the real estate markets are softening up, but the cryptocurrency markets. Bitcoin has been crashing, and the crypto markets have been crashing, and uh, you know, it's interesting going through what we call a bear market. When the markets dropped this fast UM in the bitcoin space, in the cryptocurrency space. It happens, you know, every couple of years you go through this, this bitcoin bear market

there or this winter as they call it. And it's been you know, I guess maybe just the second time I've been through it, and uh, it doesn't get an easier. But I want to give you some stories that will help you through with this. All right, so let's talk. Let's take a look and see what has been going on. So UM obviously no surprise, the price of bitcoin is way down. We know that UM from the November high

that it's set. We are down approximately as of right now, about sixty seven percent off of the high, which is not good. It's it's pretty far down. However, if you put that into UM comparison, it's not good compared to what right, That's always a question you want to ask yourself. Well, we know that the NASDAC, for example, which has all the tech stocks, the Nasdaq index has bump up in the last few days. We're down about thirty percent just on the on the index, so sixty seven percent on

bitcoin on the text docks. However, that doesn't really tell the picture, right if we dig into the NASDAC. We can see that half of the Nasdaq is down more than most of it's down even more than Bitcoin. And most of the big names that you know and love, the zooms, the shopifies, the paypals, they're down seventy eighty percent or more. So Bitcoin has done pretty good. But what is going to happen with it from here? That's a good question, and we'll dig into some of the

stories this week to try to figure that out. So we can see that bitcoin is one of the last free markets that we have. So it trades seven it trades very liquid and uh, it's not uh and so so trades pretty freely. That doesn't mean it's not manipulated. So because it's such a small market, it was up to about a trillion dollars at one point. It's down to about four hundred billion today, which which is a

lot of money. But when you're a front hedge fund on Wall Street, you throw around hundreds of billions at a time. So four billion isn't that big in the grand scheme of things compared to the overall market, stock markets, etcetera. And so it moves, you know, it moves pretty easily. It's very thinly traded, meaning there's not a liquidity there. And so because of that, if you had enough liquidity,

you could move the market. So what do I mean by that, Well, we can see that the market cap, like I said, it's about four hundred million, but there's about um let's see, there's about twenty five billion dollars a day that's being traded in bitcoin. And so if you were to overwhelm the market with you know, a few hundred million dollars, you could you could really affect

the market one way or another. And so what we saw, and I've been covering this for weeks now, we saw this cascading, this domino effect of D five defy, decentralized finance and c FI centralized finance, UM platform arms, companies, et cetera, starting to collapse. And what happened is is when one went down. We started with Tera Luna. We talked about that at length. When that went down, it

started to create liquidation, to start liquidating people. That's what happens when you use too much leverage, and we have too much leverage across all of the markets, from real estate to stocks and cryptocurrencies as well. And as those people's leverage were leveraged up and the price started going down. They started getting margin calls meaning hey, you better post more collateral, we're gonna liquidate your position. And as those positions got sold into the market, it was more selling.

More selling brought the price down even more, which then caused even more liquidations. When it brought the price down even more, which caused more liquidations than you understand how it works, It's like a going down a set of stairs. And so then we started seeing um Tara Luna go down, and then it started to drag down other ones. So then we saw like Celsius go down, and then it brought down voyager Um. They had to file for bankruptcy over the last week, and it started bringing all of

these down. But it looks like we've kind of hit the bottom with all of these big liquidations, and so we've seen f t X step in and basically backstop this. And it's kind of similar. And I used the when we talked about Terry Lune, I talked about like the free banking era, and so before the Federal Reserve of the United States in the late eighteen hundreds, we had an era known as free banking where banks could pop up, they could create their own currency. But these banks have

out of business all the time. So the Federal Reserve was created, UM for what they tell us is to to backstop the banks, to protect the banks, to make sure that the banks don't out of business. They would be what's called the lender of last resort. They would come in and and buy them up or or prop them up. And what we've kind of seen now is we're seeing all these c FI and defy protocols and platforms going down, and f t X has now stepped in to start shoring these up to backstop these companies.

And so they've agreed to buy a block five. I believe they've backstopped Voyager as well, and we're seeing f t X now really Sam Bankman freed Alamy to come in and kind of back stop this almost kind of

take this Federal Reserve position. UM. And I don't want to get super deep into that, but UM, what I do want to just cover is that it looks like we've seen, um probably the worst of it at this point, meaning that we probably don't have any more of these giant liquidations in front of us, because I don't see how they would put in, you know, hundreds of millions of dollars to just let it go away disappear. Now

they're sitting on billions of dollars. If they need to proping putting more money, they'll put in more money and they're not going to let it go down now. So I think that damage is done. So markets stopped going down when there's no more sellers, pretty simple. And so you had all these liquidations. These forced sellers continue to sell and sell and sell, pushing the price down, which caused more liquidations. I talked to you through that. But now who are the sellers? Well, we saw more of

the last week or two. And what am I talking about that? Well, now the bitcoin miners are forced to start liquidating their bitcoin as a matter of fact, that they've been dumping it, and it would be a better word. And we can see a bunch of these big bitcoin mining companies, publicly traded ones have been dumping their their bitcoin. We can see argo Blockchain was the latest crypto mining firm to dump bitcoin. It's sold fifteen point six million

in bitcoin. It's the second crypto minor this week to announce it sold more coin than it mined last month. So they they typically they would be mining bitcoin, but they wouldn't sell it all. They would keep some of it. But argo had to sell all of the coins they mind last month, and they had to dip into some of their savings of the reserve and start selling that as well. UM in June they had sold six hundred

and thirty seven bitcoin, which pushed the price down. UM they had mined a hundred and seventy nine, so they mined a hundred and seventy nine, but they sold sixty seven, so that was big. But they're not the only ones doing that. Another crypto minor called core Scientific dumped a hundred and sixty five million dollars worth of bitcoin to get more liquidity, so they had to sell over seven

thousand bitcoin to cover costs. Now they say that they sold seventy two bitcoin at an average price of twenty three thou dollars, leaving ud on their books, so they've got rid of seven thousand. They still have almost two thousand left, so they could potentially sell more, but they've sold the majority of it. They said they're not having a tough time. They're gonna be okay. They still expect to bring on seventy thousand new bitcoin mining computers in

the next six months. They've already paid ninety US at the cost for these, so those should be good. But we see this going on and on and on. Here's this says here in the last two weeks of June,

many large bitcoin wallets have emerged. Over the past two weeks, a number of addresses holding ten to ten thousand bitcoin appeared on the network while bitcoin was going down, and uh they popped up to absorb more than eighteen thousand bitcoin worth three seventy two million dollars was put onto the market by these bitcoin miners and it all got absorbed. And so it looks like all of the big selling

is done. Now. Individuals can still sell. Some of these miners still have some bitcoin they could still sell, but the majority of it is done. And even more importantly, all these big whales showed up and gobbled it all up. So it's bullish. It looks like maybe we found the bottom. Of course, we'd never know until we're looking backwards on it.

But based off of what we can see, based off of the liquidations, based off the mining sales, maybe we have you're listening to the Mark Mos show talking about bitcoin cryptocurrencies and the decentralized revolution. I got a lot more to cover in a minute when I come back, So don't go away. I'll be right back, all right, Welcome back. You're listening to the Mark Mo Show. We're talking about the decentralized revolution. Look at the way the

world is changing. Of course, the catalyst being bitcoin cryptocurrencies, and uh, we've been talking about bitcoin and what's going on with the price, what's happening with the liquidations, what's pushing the price down. There is a lot of stuff going on, but it looks like we might have about found the bottom of it. We know that markets stopped going down when there's no more sellers now. Um, there was a lot of big companies that went down, and

so we talked about Terry Luna that's gone. But sell Seius is one of the biggest ones and they halted withdraws and a lot of people have money locked up on that platform that they may or may not be able to get off, and a lot of people are hopeful that they'll get their money off. Ah, there's a chance depends on where your money is in which account, if it's in a lending account, or if it's in

a holding account. Um, it depends on what they're they're going through, like a bankruptcy now, so it depends on how they decided to negotiate this out. Um. Will depend on if you get some and how much you get. So there's a lot of factors there. But first thing they had to do is they had to survive to

even get to the point where they can negotiate that down. Now. Um, we talked about market stoff going down when there's no more sellers, and these big liquidations have been happening to have been basically forcing the cell of thousands and thousands

and thousands of bitcoin, dumping them onto the market. And it was a little bit scary for me because what's been happening, and I've been talking about this extensively, um, is that we have these big Wall Street funds and they're hunting these pegs to break them so they can make some money. Now, it happens all the time, It's been happening for a long time. They do it outside of cryptocurrency as well. I mean just think game stop, right, um. And so they they purpose they try to break these pegs.

That's how George Soros got famously rich, made a billion dollars in one day by breaking the peg of the Bank of England. And so they'll throw around their weight, they'll throw around their money to try to break these things. And they may or may not have something to do with Celsius. I'm going down having to halt with their draws. But we could see because with bitcoin and blockchain, we can see these most of these addresses, and we can see where the wallets are um and how many coins

they hold in et cetera. And we could see based off of these decentralized protocols, these defied lending protocols, that they had a liquidation price. I want to say it was around like eighteen thousand dollars and I Bitcoin got to about eighteen thousand dollars, then Celsius would be liquidated. And that means two things. One that would push the

price of bitcoin down even more. And to uh, if they got liquidated, anybody that had money on Celsius that was trapped, that were hoping to get some back wouldn't wouldn't get it, but they but they were able to get money to continue to pay this this loan down. They took out a decentralized finance loan on a on a protocol called maker dow and so the way it works on a decentralized protocol is that you have to

overcollateralize the loan. And so if I want to borrow UM fifty dollars, I have to give them a hundred dollars or more of collateral and so in order for UM. If that gets liquidated, then Celsius would lose all of that collateral they had on the exchange. But they've been

able to continue to get more money. And I don't know where they've been getting money from, but it says here that Celsius Network was able to pay down the remaining forty one million of its debt on the defied platform on the Maker down platform, which freed up four hundred and forty million dollars worth of collateral, which is a pretty good move for for Celsius, and it's good if you have money trapped on the Celsius platform. Um, we can see here. It says that the on chain data,

so that's how we can see what's happening here. We can see all this on chain data. It's one of the benefits of the bitcoin and the blockchain technology is that we can see all that data, and so it adds transparency, which in my opinion is a good thing. Um when you have things like stocks and equities and things like that, you have no idea what's going on there, but at least the blockchain we can see that data.

So on Chaine data shows that a wallet linked to Celsius repaid the remaining forty one point two million of the loan in die, which is the currency that maker now uses, which is the says the maker's protocol stable coin. That prompted the maker protocol to release nio. So about twenty two thousand bitcoin two thousand bitcoin. Imagine there was twenty two thousand bitcoin being dumped into the market. If that was liquidated, that wouldn't be good for the overall

cryptocurrency market. It wouldn't be good for Bitcoin, It certainly wouldn't be good for Celsius, and it certainly wouldn't be good for anybody that has money trapped on Celsius that are hoping to get that out. So that took that away. Remember twenty bitcoin where a danger of being liquidated in the market. It says that works out to about four

hundred forty eight millions. Since the bitcoin was recently traded in about twenty four hundred, which at the time of this recording were up a little bit higher than that. We're over one right now. We can see here that fund strat analyst UM told Coin Desk the collateral that Celsius freed up can be sold on centralized exchanges or or via over the counter to meet credited demands and customer with draws. So now they have that money, and

now maybe they could start letting some customers get withdraws. Now. I don't think they can, because I believe now they're kind of in this receivership or this reorganization or restructuring, or they're going to have to wait for like a formal plan and orderly plan to start giving money back. But hopefully there's some hope if you have money on Celsius that you might actually get some back. Could be pennies, could be none. UM, don't hold your breath, but there

is a little bit of hope. It says. The cell which is their native token on the Celsius platform, spiked within minutes on the news, but it's still done eight one on the year UM, and it says the loans on decentralized the platforms such as Maker are generally overcollateralized. So it goes back to if you want to borrow fifty bucks, you have to put up about a hundred bucks or more me and that the borrow has to put up more assets and value as a backing of

the loan than the value of the loan itself. Repaying the loan made sense for Celsius because it could get a grip of the valuable collateral by paying back a fraction of its value. So they paid back the forty million and they got four d forty million of collateral back. So big news for Celsius. Now, it doesn't mean we're out of the woods, but I think it is good news nevertheless, But I would say that I hope this

is a wake up call for everybody. Now. I put out a tweet I think it was I don't know about a week ago, and I said something to the effect of, um, the age of personal responsibility is going to snap back and hard, and what do I mean by that? So you know, I feel really bad for anybody who's lost any money. I don't wish that upon anybody, not even my enemies, which I don't think I have any enemies. Hopefully I don't try not to, but I don't wish anybody to lose money, so I feel bad

for them. But at the same time, you should never be loaning money to somebody that you don't know what the risk is of them paying you back. You shouldn't do that. So if you put money onto Celsius, you should have known there was risk there, And if you didn't, then why would you put money there If you didn't know there was risk. So right off the bat, you shouldn't have put money there. Then you if you did and you knew there was risk, you should have been

paying attention to that. Now, maybe you believed, like a lot of people, that they had overcollateralized all their loans and so that there was really no risk of them not paying you back because if other people didn't pay them back, they had they had the collateral right. But then you saw in the news that um, they lost money on Badger Dow. What the heck were they doing invested into something as risky as a Badger Dow, And so that should have told you like, oh, shoot, they're

doing things that are pretty risky. I should maybe be aware of that and and not just to pick on Celsius to Could it be block fire, could be voyage, or it could be any of these things. First of all, they're offering to pay you eight ten interest. Maybe that's too good to be true. Second of all, you know that's gonna have risk. That's the only way they can pay you back if there was risk. Third of all,

you should be paying attention to that. And when you saw some of these risky signs, you should have done something to remove that risk that you were facing. Now again, I don't I'm not trying to wave my finger and say I told you so. Um, certainly not saying that at all. What I'm saying is that it's time for you to step up and take responsibility for yourself. And whether you got caught in one of these or didn't, you should please use this. We either when are we learn?

We either win. If I lose, I at least I learned, so at least learned from this. Learned that there's no such thing as risk free returns. There's always risk. Understand how to quantify that risk, take the proper steps to limit that risk, and become responsible for yourself because no one's coming to save you. You're listening to the Mark

Ball Show. We're talking about the decentralized revolution, talking about bitcoin, potocurrencies, and trying to make sense of the news that's going on today so we can understand where things are going in the near future. I'll be back with a lot more and a second, so don't go away. I'll be right back. All right, Welcome back. You are listening to the Markma Show. We're talking about the decentralized revolution, the

world as it's changing right before our very eyes. Of course, it's being led by technologies like bitcoin and cryptocurrencies, and so we talked about that and we watch the world as it unfolds so we can navigate it. Now. One thing that's important to think about when you're talking about new technologies like bitcoin. Now, bitcoin isn't just a new technology. Bitcoin is a technological revolution. There's a there's a difference. A new technology is something cool and it's an improvement

and it extends markets. So like an iPhone was cool. We took a computer and the phone, we put them together. Now that's cool, and I love the iPhone, don't get me wrong. A technological revolution is different in a way that it changes the course of humanity and it drives financial markets. There's only been five. I believe bitcoin is the sixth technological evolution. They come about every fifty years.

But whenever you're looking at new technologies and especially technological revolutions, it's important to understand how to look at them properly. And um, one of the things that I mean by that is the wrong way to look at them is by looking at the price. The price is the least interesting thing and the least accurate thing to take a look at. So UM, I like to use the story over and over. If you tune in every week, then I apologize if you've heard this before, but I like

to think about Uber and uber. You know, it's pitched in Silicon Valley a decade ago, and um, it was supposedly going to be this new way to get a ride, you know, from your from your phone and people are like, what do you mean, I can't I use my phone to call a taxi? Well, yeah, it's sort of like that, but this is a cool app or whatever, right, But imagine if so when you invest into what's called venture

capital venture deals, these are really early companies. They typically don't go public, if if they ever go at all, for about a decade. So that means for a decade you had money if you would have invested into Uber, which by the way, you would have don really well if you would have done that. There's been a lot

of other losers. But if you would have invested into Uber in the early days, um, you would have had to wait about a decade for it to go public and have a daily stock price where you could get your money out of it. So during that decade, how would you know if it's doing any good Because it doesn't have a daily price and it's not publicly listed, so um, looking at the price is not something you can do, and even if you could, it would be

the wrong thing to look at. And the reason why is when it's so small and so new, it would be extremely volatile and you'd be shaking all the time. Imagine with Uber where it's like hey we uh we we moved into San Francisco, hooray, and the price goes up and then oh um, New York cab drivers are protesting against Uber, and then the price goes down, and every time good news or bad news comes out, it was up and down, up and down, up and down, and you would drive you crazy. But That's exactly what

happened with bitcoin. Bitcoin has been a live price since day one. Um, So if you can't look at the price, or you shouldn't look at the price, what should you be looking at? Well, you want to look at two things. One is the network growth, the growth of the network Metcalf's law. Is the network expanding or more people using it? Are the number of wallets going up? Or the addresses going up? Are the miners the amount of computers that are mining on the network, which equals hash power the

combined power of those computers hash power? Is that going up? Is the network growing? Is the network becoming stronger? And then we want to look at the development on the network. So think about back to the Uber example. Um, is is the Uber network growing? Are there more people signing up to give rides? Right? What good is Uber if there's no one that will give you a ride? So you need to have all the cities and you need to have as many drivers as you can in all

the cities. Right, So the more cities and the more drivers you have, the better. But you also need riders. So are the writers going up? So is the network growing? And so um we would say that with bitcoin, it is, right. We can see that through the growth of the miners, the growth of the bitcoin wallets. We can see how many wallets are being added to the system. And the other thing with Uber is you look at the development on the network. Is it developing? Have they added new

types of cars? Now they have rideshare, now they have vans, um now they do Uber eats, right, and so they're developing on the network. Um, they're improving the product and the network is growing. Now it's important understanding with the network. Network effects are very very powerful. So a lot of people say, well, why can't you just copy Bitcoin? Well you can, You can totally copy bitcoin, but you can't

copy the network. Right. So, um, I could probably have someone make me a copy of Facebook and I can call it marx Book, But it doesn't mean anybody would use it. Right, So I can make a copy of Bitcoin, but doesn't mean anybody would use it. More importantly, it doesn't mean anybody would come mine on it. Would all the miners that have spent hundreds of billions of dollars to mine bitcoin to help secure the network, would they all just come start mining Marxcoin. They'd give all that up?

Most likely, not what about all the development that's happened on that all the services that have been built, so the Bitcoin Lightning Layer two and all the different wallets and all the apps and all of that. Would they all just come onto marx Coin. Probably not. So why while I can copy the idea, I could copy maybe even the technology, I can't copy the network now. Um. Michael Sailor wrote a book a long time ago, and

he was talking about network effects. And I believe he said, like any any company that's achieved over like a hundred billion dollar evaluation, the network effects are too strong for it to be overcome. And you don't really see companies lose once they've built that network up. And so again think Facebook today. Um. Now, eventually maybe people stop using it, but but there's no way like another social media app would come and replace that. Amazon right, these have big

network effects. Again, I can go make a new site where you can buy and sell products, but doesn't mean that network will come over. Um. But so we want to look at those things. And I saw this week, UM, something that we've seen over and over and over is we're seeing minds share. Some of the smartest people in the world are leaving their very high positions to come

work in this space. And so I know right now we're in a bear market at the price of bitcoin and cryptocurrencies are way down and bitcoin is dead again, right It's been dead I think thirteen or fourteen times um every time the price draw up. It's dead. Never mind that it's it's fallen all the way down to its previous high position that was that before. So again

looking at the wrong um thing. But if bitcoin is dead, and then why are some of the smartest people in the biggest positions of the world coming over to work on it? And so we saw this week a new story came out and says three executives leave JP Morgan this week to join crypto firms. So JP Morgan one of the biggest and most connected banks in the world in the United States, Jamie Diamond and JP Morgan. Jamie Diamond had once said, um, you know, bitcoin is a scam.

If anybody at JP Morgan traded, I would fire them. But of course now JP Morgan has moved into the space. But three executives and one of the most connected banks in the world have left to go join crypto. Now, a lot of people said, well, it's never gonna work because you know, the Governm's gonna make it illegal and all these things. Right, Well, these executives are you know, they know a couple of things, and they would probably not agree because they've left their high power jobs and

traditional finance to go work for this new company. And take a look at that. So we can see here UM a banner week for people departing mega bank JP Morgan to join the cryptocurrency industry. Three executives taking the plunge despite a looming crypto winter. So even though the price is down, even though it's dead again, even though it's never gonna work, they've decided to leave JP Morgan

to go join the crypt industry in the winter. No less. Now, someone who's been through a few bear markets, and let me just say that bear markets are the time to build, that's the time we get ahead. We can see. The latest leavers include Eric Raggy, a former managing director at JP Morgan with twenty one years tenure at the bank. Look, he wasn't just a guy who had been there for a few months. He had twenty one year's tenure at

the bank. Um he left to go work ahead of business development and capital markets at the company, and we have Puja Samuel, formerly ahead of ideation and digitization at JP Morgan based in New York City, joins the Digital Currency Group. Digital Currency Group runs the new site coin desk, They run the event called consensus Um. They have the UM,

they have the big gray scale trust Bitcoin Trust. So he left to go work there UM, and we have JP Morgan banker Samir Shaw left the bank to become chief operating officer at an investment firm called Pantera Capital. So look, these people don't think Krypto is dead. You might, but I would just stop and ask myself. Am I more connected than this guy that worked at JP Morgan for twenty one years? I'm not. I don't know anybody at Wall Street or inside JP Morgan. Am I smarter

than them? I probably no different things than they know. But um, you might want to stop and think when you see this amount of mindshare leaving tradition, no finance to go work in this industry, especially in a bear market, and that should give you hope. I think if you zoom out and you can have the right time perspective, these things can help you a lot. I still believe it's the greatest opportunity that we'll ever see in our lifetime.

Now you listen to the Markmas Show. We're talking about the decentralized revolution, the way the world is changing right before our very eyes. The catalyst, of course is technology as always being led by decentralized technology. We're talking about bitcoin. Just going through some of the mind share that's leaving the space. And uh, I got a lot more to cover when I come back in a minute, some big stuff, So don't go away. I'll be right back, all right,

Welcome back. You are listening to the Markma Show. We're talking about the decentralized Revolution. We're talking about bitcoin, We're talking about cryptocurrencies. We are talking about the latest breaking news. So we can see all of this playing out in real time. Now hopefully you've got the last segment there. Um, it's a bear market, but it's not dead. We're seeing people, some of the top people from the traditional finance space are leaving their posts to come in. But I want to, UM,

I want to talk about a couple of things. Are here real quick, so let's see here. First thing, we have to understand what happened in the market. We saw a bunch of experimentation, which I'm a fan of experimentation. UM c FI defy decentralized finance, centralized finance, and we saw it end pretty badly. Now, I was talking about before that you know, if it sounds too good to be true, a lot of times it is. Doesn't mean it always is, but a lot of times it is.

And so UM, at a minimum, you should use some extra scrutiny, and you should really dig in and take a look at this. And I think when we're looking at the c FI DFI platforms, centralized finances, decentralized finance platforms, we're talking about the block fives, the celsius is, the voyagers, um,

the et cetera. When we're looking at those and they're paying out, you know, interest, you might ask yourself of how in the heck in the world that we're in today with zero interest rates they're able to pay out, And you would ask yourself that. Now, we talked about how all this collapsed and how it became this cascading domino effect, and it's really dragged the entire market cap down with it. But I think it's also fundamentally transformed

the industry. At least I hope so so I think it's washed out most of, if not not not all, but pretty much most of the leverage that's been built up in the system. But what I also hope is that it wakes people up to the to, like I said I'm saying earlier, the era of of a personal responsibility, and I think you have to want to be responsible for yourself and think about the risk that you're taking. But also I think it maybe marks an end to that entire era that was there. You know, UM, people

were taking a lot of risk. They were putting a coin on this defied platform, and they're taking it out here, and they're wrapping it, and they're putting it on here, and they were taking the yield and they're wrapping that and they're putting on here, and they're adding all these steps and all this complexity to try to get more and more what we'd call alpha, more profit, more yield, and in order to do that, they were taking more

and more risks. So it pushes people way out on this on this risk curve in order to do that UM. And now through the collapse of Anchor and other defied protocols UM, we're seeing that these these platforms have blown up. It's shrunk. The amount of value that's locked up into these DeFi protocols at trunk about sevent from its all time high, and we're seeing a lot of them that have just disappeared altogether. And I think, um, well, I don't know. You can't ever count out the stupidity of

other people. Um, but typically when you touch a hot stove, when you burn your hand, you don't do that again. Um, sometimes they might, but I think it should be a it should be abundantly clear of anybody looking right now that high returns equals higher risk and at a minimum, if you want to continue to try these things, hopefully you'll take a much more seasons approach to it. Now. I also want to give um, that's kind of what I'm thinking about the space overall, But I also want

to give some advice. I was went to a meet up last night. Swan Bitcoin put together shout out to swan bitcoin. If you're looking to buy bitcoin, check them out swan bitcoin dot com. I think slash mark, by the way, get ten dollars in free bitcoin. But we went to a meet up meet up last night and we were talking about the market and what's going to happen, and when when will the price of bitcoin come back? And how long will this bear market last? This crypto

bear market? And uh, I said, you know, shoot, it could be three years before we see the all time high price come back. And some people didn't like that answer. And UM, you know, I've been through this before. It doesn't Maybe it's a little bit easier, but it's still not not fun, still painful. But I said, you know, if it took that long to get back, that would be a three x return from here, you know, in three years that that's pretty good return. I like that, UM.

But also I think that these bear markets, these these winters are opportunities to UM build. And so let's talk about a survival guide for the crypto bear market and how to get ready for the next bull run. And I think a couple of things. You know, one thing that I think of is, um, what if it never comes back? It's a scary one. I think about that. And uh, having gone through this before, like I said, it doesn't necessarily get easier. So what how do I

deal with that? Um? You know, should I panic? Should I sell out right now? Or should I double down? Well? I would I would think about a couple of ways. So first of all, why did you buy the asset? What do you think is going to happen with that asset, and what's your plan for that? So for me, for example, I believe bitcoin is the most pristine asset reserve asset we've ever seen. I believe it's a superior form of money. I believe it's going to take a big majority out

of the global reserve assets. I I believe that um and so that's why I bought it. That's why I hold it, and what am I plan to do with it? While I'm planning to hold it until that becomes reality, which could be past my lifetime. And so that's what I'm waiting for. Now. When it crashes in price, should I panic and seller? Should I double down? Well, I would ask myself, do I still think that could be true? Well? The network still works as design, the network growth is

still happening in development, never gonna happen. It looks like it's still on track to do that. So I'm gonna continue to hold. As a matter of fact, I will double down on this. Now, let's say that you bought like a board ape n f T for example, why did you buy it, and what did you expect to happen in what were you thinking would happen. So let's say that you bought this because all your friends were buying them and were doubling tripling their money within thirty days.

Now you bought it and the price dropped, Well, do you still think you can double the triple your money in thirty days? Um? And uh? You know, and ask yourself that question. Now I would say, well, shoot, now there's been a million board apes come on, and I can just go onto Google images and search board apes and I could just right click and save any of those. So I don't know if that's going to be a reality. More.

I really bought into the hype of the hype is dead now and so since the hype is dead and I only bought it for the hype and it's dead, then maybe I should get rid of it. Now. I'm not saying that's the case, but these are ways that I would think through this process. You never want to become a forced seller. That means you don't want to panic at the bottom. It's simple, not easy, but simple. You're supposed to buy low and sell high, not buy high and sell low. So you don't want to be

a force seller at the bottom. You shouldn't panic, which brings me to the next point, which is avoid panic selling. Um. You also want to avoid greed. So if you were only buying these board apes at astronomical levels because you thought you could triple or quadruple or ten extra money in thirty days, you were buying into greed. So you

don't want to you want to avoid greed. Um. I can tell you that my phone starts ringing off the hook with people I haven't talked to in years and years and years when Bitcoin reaches new all time highs. They're buying into greed. You're supposed to buy at the bottom when it's cheap, not at the top when it's expensive. Um, but now it's cheap and people don't want to buy, so think about that. But you want to avoid the panic selling. That means being forced to sell. That means

avoid liquidations. And so that goes to my next point, which is staying solvent. So you don't ever want to buy um or trade with leverage. I like to say leverages like fire. It can warm your house up or it can burn your house down. And a lot of times people get into the greedy part they start using leverage, and then they are they become a forced seller. So those things all kind of work together. And so shoot, if my bitcoin is not levered, then I can let it ride all the way down and I'll hold it

until it goes all the way back up again. But if I have leverage against it, I've taken loans against it, or I'm trading with leverage with it, then and the price moves down, then I get liquidated. Then I become a forced seller. So then I was forced to sell low. I don't want to sell low. I want to sell high. And so you don't ever want to become a force seller. You don't want to be a panic seller. You want to still stay solvent. The other thing I'd say is research.

Spend your time doing research. What's going on? Is it going to survive? What was my thesis? Why did I buy it? What did I expect? What happened? Is that still on track? As long as long as I'm researching and as long as my thesis is remaining true, and as long as that project is staying on track, then I'm going to continue to stay in it. If I come to find out that there's new information and it's not on track anymore than I should get out of it as fast as I can. The last piece I'd

give you is keep your job. We saw a record amount of job quits at the end of last year. People want to quit their jobs to trade options on robin Hood and trade cryptocurrencies. Think twice about quitting your job. You want to have income coming in so you're not forced into be an emotional force to seller. Hopefully that

helps you get through the crypto bearer market. How Ever, long at last and listening to the Mark Moa show talking about the decentralized Revolution talking about bitcoin and cryptocurrencies. That's what I got for you today. Thanks for listening. Until next time.