It's a terrible day for regulators.
It's a terrible day for fraudsters.
It's a terrible day for frauds.
It's a good day for us.
It's a great day for the BitSquad.
Now, The Graph is one of the ones I was looking at, you know,
maybe accumulating during the bear market.
I didn't.
I didn't accumulate any.
I think I have like some dust, dust on Coinbase.
- I don't even know what it's worth. - I picked some up yesterday.
I went in.
Well, two days ago, I went in on Graph.
- Finally. I've been watching it, so. - Okay. Okay.
So if you look at the--
this is the 6-month chart.
It doesn't look great, folks.
I'll be honest with you, it looks like, yeah, you know, dang, I should have gotten here.
I don't even know if I want to buy this.
Guys, let's pull up the max chart. Okay?
They had a significant early pump in January of '21.
Let's see. Okay, well, technically February.
Okay. So it was February, not January.
But it really started to move.
- Right there. You can see it was above $2. - Yeah.
That rest of the chart there, it looks pretty flat.
Yeah, we're up above, you know, SBF collapse and everything else.
Yeah, November, this would be around SBF.
Here, you can see that's the Sam Bankman dump right there.
And then, you know, just very, very bearish sentiment in the market overall.
Then you see the AI pump.
This was Singularity AGIX,
but when you type in AI under categories,
you would see The Graph,
and I think, you know, a lot of their pump was attributed to that.
Still looks okay.
And so I'm not hating accumulating The Graph here.
Alright. So, you know, with the crypto market, Bitcoin has been in an uptrend.
Obviously, it's been a pullback here recently,
coming off of a short squeeze that took place back there on April 10.
I had actually been looking for this short squeeze.
We ended up getting it.
We ended up pulling back.
We're at the 50,
the 50-day moving average currently right now.
And we've been sitting here for four days after a big fall three days in a row.
Still, it's holding that support.
Typically in these types of things,
we actually, you know, you see bearish divergences emerging up in here.
Typically these things will ABC their way back down.
So we may be here for a little bit of time.
But for me personally, I'd look at the bigger, you know, bigger picture of everything.
I do this with Ben.
I did this all through June through December and January
when everybody's screaming for $12,000.
It's just that we're exhibiting the signs of coming off the lows.
You can look back to 2015.
You can look back to 2019.
Here we are in 2023.
We're exhibiting the signs.
These are when the low has already been put in.
Question is, the big debate,
do we go to all-time high?
Do we just go back into a retracement?
Not really going to debate that today.
It's just that we clearly see the behavior of what happens
after a prolonged time period of moving down
and then the oscillators moving their way back up,
including the relative strength index,
which the relative strength index, there, you know, it oscillates between zero and 100.
Typically, you're never going to see zero.
You're never going to see 100.
But you can get up there into those 90's, 96's,
which we've seen on the monthly timeframe for Bitcoin.
This will be massively overbought.
However, when you're in a bull trend and you're continuing a bull trend,
40 is supposed to be your support level.
When you're in a bear trend, 60 will end up being your resistance level
to where you're not able to get through that 60 and you continue being bearish.
But what we see here is that, again, once again,
Bitcoin is able to hold above 40 on the monthly timeframe
as low gets put in, as the oscillators start moving their way back up.
So in the bigger timeframe, things are looking good.
Just looks like we're in somewhat of a temporary pullback in here
after getting a breakout that took place by holding us down for about nine months.
We still had this gap in here.
There's also a volume gap on the fixed volume profile right there.
So we pretty much closed all volume gaps, except for this one right in here.
My best guess is that we're going to eventually fill this thing in.
We'll eventually see. But that's my thoughts.
As for XRP,
we've been watching this as well.
If you look back at XRP over the course of the last 10 years,
- I guess we could say at this point now for XRP-- - Oh, that sounds weird.
is that weird?
It does. Yeah.
Yeah, you're talking about FUD, man.
We've had it all.
- But if you look back here, right? - Too old for Epstein.
Okay.
Alright, man.
Crash, retrace, re-accumulation takes place before a big blast.
This is exactly what we actually ended up seeing for Bitcoin
back here in 2018 through 2020.
Crash, retrace, re-accumulation.
4.236 extension reach out.
But this is what we have for back in 2014 through 2017.
Looking at it on a bigger timeframe, it looks very, very similar.
And we can see that this retracement, this re-accumulation,
what do you know?
It happens to be identical to what we have going on right in here.
They're precisely the exact same size.
I believe they're 81.8% exactly for each of them.
So, what are your thoughts of Palihapitiya in general, Drew?
Because you're the Drewth.
You know, he's coming out.
- He has bold proclamations. - Yeah.
He's a very polarizing figure.
What's the Drewth's take?
I mean, his price targets are pretty conservative.
You know, if he's still looking within the $100K to $200K mark
for the next kind of all-time high or, you know, bull market pop-off,
I think that's within reason.
- Where I start to kind of-- - Pop off.
- yeah, just popping it off, yeah. - Pop! Pop!
Shout out to hurricane?
Earthquake. Shout-out to earthquake.
I just don't think we're going to like 300, 400 or 500 this next round.
Yeah.
I'm kind of--
I'm keeping in mind diminishing returns.
- Kind of long-- - Yeah, if we have diminishing returns,
- you know, we go from a 20X to a 3.5X, - Yeah.
we're not going to go back up to a 10X.
You know?
Coinbase files court action to compel SEC's response to rulemaking petition.
Yeah, Brian Armstrong, he's tweeting about this a lot.
They're basically--
they're taking to the courts to get the SEC to give us a yes or no
to some paperwork they've had pending since July.
You know, just kind of break it down like for a second grader here,
look,
last July, they submitted paperwork.
You know, the SEC says, "Hey, you have to comply with all the regulations."
They said, "Alright.
Well, I see the f--
the only form you have for me,
filled it out July of last year."
Guys, it's almost May. Okay?
- We're looking at 10 months ago. - Yeah.
They gave it to them in July.
And I forget what the legal term was.
Let's see, narrow action, yeah, there's like a legal term
and they have like some short amount of answer.
"It seems like the SEC has already made up its mind to deny our petition.
But they haven't told the public yet."
So the action they filed simply asks the court to, "Hey, give us a freaking answer on this."
So I forget what the actual--
- but it's basically in a timely manner. - Yeah.
You have to receive it,
you have to look at it,
and you have to approve or deny in a timely manner.
They gave it to them in July.
And so at a certain point, they're like, "Look, man, we don't want to go to the courts.
You're forcing our hand here."
As what they want,
they want the SEC and crypto to act like some sort of mail slot in an abandoned mansion
filled with meth heads from Chaz.
Yeah, I'm shouting out Decker's neighborhood here.
The mail goes in.
Then what? I don't know.
It's in a crackhead's hands. Okay?
That's what I feel like the SEC is doing.
It's like they're a bunch of meth-fueled addicts just receiving money and then, you know,
opening it, then next thing, you know, it looks like a rat nest, okay?
- Just shredded paper everywhere. - Yeah.
I can't even imagine the lack of structure,
just the lack of controls that they have going on here.
And I remember reading, I think it was over the weekend, maybe on Monday,
half their people is just basically people that kick in doors.
They have a bunch of boot stoppers.
And then they don't have any kind of bean counters.
And they need more bean counters.
They need more lawyers.
They need more people to push through approvals,
not a bunch of people to put handcuffs on them
because, "Hey, guess what,
you didn't do what we approved."
"Well, I filled this out in July, and I gave it to you.
What do you want from me?"
- Right. - That's the position that Coinbase is in.
And it's really not fair.
And I'm glad that they're filing suit.
Because look, we will take--
well take it to the courts.
XRP,
it remains to be seen.
This could be a great, great strategy.
We're hoping that it's a great strategy.
And I think Coinbase, I think they probably have some pretty smart people.
They sold a lot of stock.
They have a big, big war chest.
They probably got a pretty big law firm.
Brian Armstrong, he is a pretty smart guy and pretty strong arms too.
- I heard he's got a pretty good curl. - Absolutely.
This is the weirdest animal I've maybe ever seen.
I do like just the regular things of the internet.
Is that Gary Gensler?
No, he's got longer hair on the side.
- That's an amazing haircut. - That is a weird looking creature.
Very, very odd.
So just a nice little light-hearted piece of--
look at it.
Look at the eye contact there.
It's creeping me out.
Tucker Carlson was fired.
Their stock went down.
Don Lemon was fired.
Their stock went up.
So investors in CNN,
they seem quite happy that they got rid of this guy.
Investors in Fox News Corp.,
they don't seem as happy.
10-year anniversary of Satoshi Nakamoto's final message.
It was him messaging me his seed phrase for his Bitcoin wallet with 1.1 million--
Just a quick interjection, it's 11 years.
This was written last year or two years ago.
So 12 years.
- Oh, yeah, yeah, 12 years ago. - Yeah.
12-year anniversary.
So a dirty dozen here.
He left the community with a parting message
exactly 12 years ago.
"I've moved on to other things."
Despite dozens of plausible theories, his identity remains elusive,
and their estimated stash of 1 million Bitcoin remains unmoved.
While Bitcoin was at $54,000, it was $54 billion.
Basically, you just--
whatever the price is at a thousand, you just change a thousand to billion.
So coming in quarter hundred billion dollars there.
Pretty, pretty big.
Deezy's lesson today, folks, is happiness.
Happiness is very important. Okay?
I've said, what do we all want?
We want health, wealth and happiness.
Oftentimes, they want it in the wrong order.
They want their wealth,
then they want their health,
then they want their happiness.
You need to want your happiness first.
Happiness can lead to health.
Health, because you're in a better position to be healthy.
And then you're healthy and you're happy,
then you're in a much better position to be wealthy.
You don't want to be wealthy and miserable.
You'd rather actually be poor and happy in my--
that's my opinion there.
So happiness is going to be the key term for today.
What is happiness?
A lot of people--
it's one of those words that might have 50 different meanings,
but a lot of people's desire,
and desire is a contract to be unhappy until you get the thing that you want.
And so you've got to be careful with your desires, folks.
I desire a large crypto bag.
I desire a happy life with Kat.
It's okay to desire a few things,
but don't desire 50 things.
"Oh, I need to have a new vehicle."
"I've got to have that Starbucks every morning."
"I've got to have this."
"I've got to have the new shades."
"I've got to have the new Jordans."
"I've got to do this."
Because you're going to end up with this, this giant bathtub of desires
where you can't even make anything out.
It's just a-- it's a pool of Orbeez.
And then you'll find, "Oh, I reached in, and I got seven Orbeez in my hand.
I didn't really even desire that."
And then you get it and you're just--
you're no--
you're not even any happier.
"I'll be so happy when I get that truck."
Well, guess what? They get that truck, and then they're no happier.
That's why you see so many miserable rich people.
So, how do you be happy?
The first step is realizing happiness is a choice.
Happiness is a skill.
And once you look at it that way, it will open up your mind.
And, sure, I know there's going to be some DNA effects.
There's going to be some issues.
Some people are going to have a better template.
They're going to have, you know.
Oh, yeah, he doesn't have to work out.
He has six pack abs.
Okay, there's going to be some people that are just going to be naturally happier.
But you can still affect it. Okay?
Just how you could still go to the gym and lift a weight,
you could still go out there and you could choose to be happy.
You could choose the path that will lead you to happiness, okay?
Because a lot of it is just going to be peace.
How do you get peace?
Peace is going to be from detachment. Okay?
So you've got to detach yourself from the crypto charts.
You've got to detach yourself from politics.
You've got to detach yourself from whether or not you're going to eat bugs in 10 years.
You got to detach yourself from what XRP's price is going to be when banks start using it.
Okay? Because detachment will lead to peace.
Peace will lead to happiness.
Choose to be happy.
That's all I got.
Deezy out.