I can't even focus on doing technical analysis
because--
That's a fun-- that's so-- you--
you were funny!
Right then.
It's not true!
- Girls can be funny! - I broke something.
I think girls are funny.
"Given the regulatory climate and discussion with the SEC and other regulatory bodies,
Celsius and the Celsius UCC have decided out of an abundance of caution
to convert all altcoins to Bitcoin and ETH starting on July 1,
except for those with designated Withhold or Custody accounts.
They will use commercially reasonable efforts to maximize the value during the sale and conversions.
I wish they did this when I requested it."
I know, like I said, he requested it earlier,
"in the bull market when the alts were up on Bitcoin and ETH
rather than when alts down relative to Bitcoin,
but important move as described in the equitable haircut strategy
I published in my 7-part video series last year."
Guys, we're going to get screwed on this.
We're going to get screwed on this.
I believe that.
It could be maybe when the XRP case does end,
is when we get the reversal for altcoins.
But
companies like this make these moves at the wrong times.
We've seen it all throughout history.
There's a famous--
- are you familiar with Substratum? - No. No, no.
So Substratum was a company that launched with a big, you know, went way up.
I know somebody who made a ton of money in it in 2017.
Substratum goes into orbit, moon launch, 1,000X,
go make a lot of money.
Bear market hits.
Price starts going down.
It goes all the way back down to virtually nothing. Okay?
The team behind Substratum decides,
because Ethereum is down--
this would have been probably 2018,
maybe over the summer-ish.
I can't remember exactly when it was.
But they decided they were going to take the ETH that was in their company treasury
and they were going to, like, 10X short Ethereum with it.
That was the bottom of Ethereum.
Now, it may have gone lower at the pandemic crash, but that's separate.
They shorted the market the exact wrong time.
They lost all their money.
And it's a dead project now.
So--
Jamie Gonzalez wants to bet me one BEN token.
How about that?
So, what we generally see--
that's not the only time we've seen stuff like this.
We've seen tons of these companies making big moves based on the market
at the wrong time.
And in my opinion,
I know we lost support
and we certainly go down a little bit more from here,
this tweet is a bad sign.
I mean, for Bitcoin and Ethereum--
for Celsius holders.
I think it's a bad sign.
Why would you do it when Bitcoin dominance is at basically the top right now
of where it's been over the last couple years?
Isn't that crazy?
To do it at the top?
The risk-reward here is totally out of whack in my opinion.
I haven't really looked in--
this was three hours ago, right after I woke up.
I just saw it trending.
I saw what Wendy said.
I saw a couple other people say some things.
I haven't really looked into the USDT story yet.
I don't really have to.
I've heard Tether is collapsing 100+ times.
Each time, it's been fine.
Sure, there's a chance something could go wrong,
but history tells me it will be fine again.
People want you to panic for clicks.
All the people that say Tether's losing peg,
blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah,
guys, they've been saying this stuff for eight years now.
Really since 2017 hardcore.
So for six years now,
"Tether's going to collapse."
Well, it's stronger than you think it is, guys.
Anyways, Market Cipher looks like hot garbage on the daily.
Everything is dumping. Everything is falling.
There's also this Tether FUD that's happening.
In fact, Tether also dropped point-- or depegged 0.41%,
which is embarrassing.
We've been here when it's depegged--
like, if you guys go on CoinGecko or CoinMarketCap,
you will see the highs and the lows of these stablecoins
and you'll see they actually, or historically, are able to depeg.
It's just kind of what happens.
But anyways, if you do take a look at the daily chart,
you will see a little bit of negative price action.
Obviously, we've had a lot of FUD in the market.
A lot of people are very, very, you know, scared and nervous.
I do think that Bitcoin will be okay.
With altcoins, I don't necessarily know.
So one of the reasons why you do need to be careful with altcoins
is you need to kind of see what the SEC is calling out as "potential security."
Also, too, there's a lot of FUD surrounding that.
Understand just because the SEC says it's a security,
it does need to be proven in court.
Oh, shout-out to Calafrios.
Calafrios is pretty awesome.
He hangs out on my channel too.
But what we're seeing right now with Bitcoin, we're seeing a bit of a sell-off.
Some people might say that this is one of these descending wedgy thingies.
And you guys will have to bear with me because I'm not used to this mouse.
But we could do something like this.
Where we continue to fall, fall, fall, fall, fall
and then we do have some sort of bounce up.
That's actually one of the patterns that I'm seeing now,
where we're kind of forming a channel where essentially you fall and you bottom out.
But the EMA-200 does look really really, really nice.
We do have this area over here
where we're currently trading at approximately $24.8K.
And then we do also have this area, this lower area here at about $23.8K.
On my chart, on my chart, I will tell you I do like the $21,000 area.
That does look pretty interesting to me.
I do like it. I think it's fascinating.
But again, we're kind of free falling.
And I feel like we will probably touch down to this EMA-200.
Was this the bottom though?
Is this the bottom?
- So, what I'm-- - Try and put your foot up on the desk, Wendy.
- Oh, put my foot up on the desk? - Yeah.
Zoom out.
There it is. Look at that.
- She's had rocks in her boots the whole time. - Yeah.
They want to see your feet.
- There it is. - I mean, we're already going that way.
- We might as well-- yeah. - I mean, we're already going towards foot modeling.
I mean, we might as well.
Look at that.
- Oooh. - Hey, that's a--
imagine that foot coming at you.
Imagine that foot coming at you.
Look at my toes.
No big toenail.
- Wow. - Alright, guys.