Hey yo, how's the FEAR with my people, those that never miss and episode of the
best crypto content on the tube!…Well, Well, Well…the markets got hit hard,
that’s why I asked how’s the FEAR…are you scurred, shaking in your boots. Well sit down, relax, grab
a warm cup of tea, and let your boy snuggle you to comfort. Because it’s time for Chico Crypto!!
Yes, so let’s begin by pulingl out the Bitcoin price. As of Sunday, the price
wasn’t looking too bad, hanging onto 66k…but as the clock turned to Monday. DUMP baby DUMP!
(bitcoin price since sunday)(bitcoin drops to 58k) Down below 66k, Below 65k, 64k, 63k,
62k, 61k, but decided to bounce of 60k support based on the hour…although,
checking out a more detailed chart, there was a quick wick down to 58k, although that got scooped
up in minutes pushing it right back above 61k…but as of shooting this video yesterday,
we were barely hanging onto 61k, and the price was looking like it would fall once again….
It looks like Plan B’s prediction of 98k for the month of November is going to be
fully invalidated right? The s2F model is broken?? Well I just want
to replay this clip, from Monday and what I said regarding what’s coming…
Market manipulators are looking to make it seem that his prediction isn’t coming true,
the model will be broken…they are looking to set shorters up,
and then….squeeze them short leveragers the funk out.
Unfortunately, it’s all about leverage my friends…the recent DIP that came was due
to setting up the longers, those who truly believed we would have already broken 70k,
and been on our way to 98k. Checking out ByBt and their liquidation data,
we can see the DIP on Monday, netted leverage exchanges nearly 800 million in Long Liquidations…
They flushed those guys out…the longers, and next, very soon it’s going to be the shorters turn…why??
History my friends…
(bitcoin price 2017 july to november)(bitcoin price this year july to november)
Let’s zoom back to the bull RUN of 2017, July of 2017 to be exact….as we can see
the price started just below 3k and then it pumped up to 5k, had it’s September dip,
and by November it was above 7k at its peak. Now let’s just pull out the BTC chart from
this year by 2017’s side. This year starting in July…we started at 30k, pumped just above 50k,
but then had it’s September dip…and then we pumped to just below 70k at our peak.
Why so gosh dang similar? So, the DIP in november 2017 took the price from about 7500
to about 5900…this was a loss of about 21 percent. The DIP this year in November,
took the price from about 68k down to about 61k, which is a loss of basically 10 percent.
If we were to follow, what happened in 2017, a 21 percent loss…BTC would dip down just below 54k….
Although, I don’t think it’s going to be that steep. We may even HODL right here… The DIPs
in 2017 were more severe than this year…per example…the September DIP. In 2017 the price
went from 4900 at it’s peak, down to about 3100 in September, a loss of nearly 37 percent. This year,
the price went from $52700 down to $40400…a loss of about 23 percent. That’s a difference
of 14 percent between September’s ! And with this year's November dip
being only 10 percent, and 2017’s being 21 percent…that’s a difference of 11 percent.
Based on numbers, it kind of makes sense that this may be the low for
the November DIP of this year, before we start our move back up and go parabolic,
just like what happened after the November DIP in 2017…we went parabolic, throughout November…
But if we follow the Pump in 2017…will it be enough to reach Plan B’s prediction??
Well remember the November dip back then took as down to about 5900,
and by November 31st, the price reached $11,000 dollars. That was an increase of about 86 percent!
From where we were at yesterday 61k, to plan B’s prediction…is
a pump of about 61 percent…so in my opinion, Plan B’s prediction
is definitely not off the table…and like I said Monday, I still HODL to my heart
Soooo, right now with this DIP, it's a screaming opportunity to
me…not only for Bitcion…but for those altcoins!!
And there is one Altcoin opportunity,
I’ve been eyeing like a hawk and now it’s time to uncover and reveal it…
Sooo, everyone knows about the high APYs…high APYs from the likes of projects like OHM,
Klima, and the hundreds of forks that have followed…
Well November 15th, a Will Villanueva tweeted this…” Leveraging into yield exposure on Element
Finance, Check out these 6-7 digit APYs, no tokens involved. It's called yield token compounding
and it's exciting that someone is releasing this product on top of us. Coming soon.
With a picture showing some of those high APYs…1.18 million APY, 732,000 APY, 433,000
APY…shoot the lowest APY he shows is nearly 40,000 APY…higher than the APY right now of KlimaDAO….
Sooo is the token from element finance? Well no, element is tokenless…and
Will the founder and CEO of element said someone is building the product on top of them….
Who could it be???
Well all the way back in the middle of October, a Mr. Stiive put out a thread…breaking it all down.
The first part of his tweet thread said “$WARP is about to release its v2 BlackSmith,
further innovating on lending for yield bearing assets The DeFi 2.0 narrative is strong,
but the potential of the element finance ecosystem it will leverage is underappreciated.
And he breaks down how this will work! First he breaks down v1 of Warp saying they were a pioneer
in the DeFi summer by being the first to enable borrowing against Liquidity Positions (LP).
He then says “But now $WARP are innovating again with the goal of freeing the potential of other
illiquid yield generating assets. Introducing Warp V2 BlackSmith with initial focus on integrating
element finance fixed yield assets-$163 million TVL!! $WARP will service & expand this TVL.
Mr. Stiive then breaks down exactly how Element works. He says “First, what does Element
do? Well, it leverages yield generating pools like CurveFinance and iearnfinance
and splits it into: Principal Tokens (PTs) = the locked upfront capital.
eg 100ETH and Yield Tokens (YTs) = future yield expectation (eg 12 ETH), accruing value over time
He then goes deeper into these token types, but I’ll let you DYOR, his thread is in the
description if you want to learn…but he then says “Why do I say *only* $163 million TVL?
Well, the potential of the ecosystem is MUCH bigger!
Example…let's look at the TVL of the 3 Curve assets supported on launch:
$triCrypto2 – $725Million, $LUSD – $112 million, $stETH – $4.8 billion. that is,
*$5.7 billion that could find its way through element finance in these alone! How?
Sooo element, is about to get ramped up
BIG time…but not only through their protocol…but by getting warped!!
Stiive says “Enter warpfinance V2 Blacksmith, which will provide a platform for borrowing
stables using Element assets as collateral That is, instead of forcing the primary selling the PT
at an unfavourable discount, they could instead borrow against it….he then breaks down what this
means even further, but what we are interested in….is this from his thread. He says “Further,
both the primary and secondary participants can use $WARP to borrow against their PT,
to buy even more PT at discount! This creates LEVERAGE in the ecosystem, creating further demand
in the system for PT, thereby increasing the incentives for primary to mint more!
How does leveraged APY work? Example let’s assume a fixed YT APY of 24%: If the WARP
lending rate is ½ that at 12%, the borrower now gets a 10x return on original APY = 240% APY.
As the WARP lending rate decreases (12% is high APY for stables), leverage tends towards 20x!!
Going back to Will, CEO of element and his tweet he said “Leveraging
into yield exposure”...Warp is what allows that leverage & insane APYs!
So how can we confirm this is true? Can we trust Mr Stiive and his excellent thread?
Well not necessarily, we have to go deeper…and we can confirm it from Warp Finance themselves.
Just last week, November 10th…Warp released the testnet for Blacksmith…and
put out a promotional video for it….
Let’s watch now….and
stop right there…as we can see they say Blacksmith
v2 will allow you to add liquidity to principal tokens from element finance.
Check and mate! Cheers viewers, I'll see you next time!