Okay. So first of all, you have to determine, are you a trader or are you an investor?
If you are a trader, then
you may have to realize that you made a bad trade
because buying the top and selling the bottom is definitely a bad trade.
However, if you are an investor buying Bitcoin for the long term,
then I'll tell you right now that it doesn't matter whether you bought at $60K, $50K or $5K.
Hey, everybody!
I'm here with Carl from The Moon coming to you guys on a Friday today.
We got a very important day going on right now as Bitcoin has maybe found a bottom.
We'll find out.
Guys, don't forget to subscribe to Carl's channel down below in the comments.
He's also the founder of Kasta, which we'll be talking about that,
how that launch went here in a few minutes.
But, Carl, first and foremost, how are you doing today?
I'm doing absolutely okay.
I think the crypto market has taken a correction here.
This is something that I'm getting more and more used to by this point.
I mean, we've been here for a few years now.
Of course, it's more fun when things are going up,
but we're all in here for the long term,
so I think it's--
it's just part of the game by now.
Yeah, absolutely.
Well, so, I guess that answered my next question.
My next question is
are you scared?
No, I'm not scared.
My Bitcoin--
I mean, I hold just as many Bitcoin today as I did yesterday.
One Bitcoin today is just as valuable as a Bitcoin--
well, not really as yesterday, but the fundamental value is the same.
The price has changed.
So the price can change,
but the actual fundamentals that are making Bitcoin what it is,
making it valuable to us as humans,
that never changes.
It actually, on the contrary, gets stronger and stronger and stronger
as the hash rate goes up,
as more people use Bitcoin.
So, yeah, the fundamentals, they go stronger every single day, actually.
So with that in mind,
being a HODLer and holding for long term,
it may--
it makes no sense to ever panic sell Bitcoin, in my opinion.
Yeah. I mean, I definitely think if you're going to make decisions on buying or selling, you know,
you need to go in there without, you know, all of your emotions.
But real quick, Carl, I'm actually going to--
since you're--
you are driving right now, or riding.
- You're not driving and make a video. - I'm--
I want to show you something real quick and get your thoughts on it
because I understand what you're saying.
You're saying that you're not scared, but, you know, people are scared out there right now.
We've got this Bitcoin fear and greed index which is at an 18 right now.
Yesterday, it was at a 15.
When this thing updates, unless we get a pretty big bump today,
I expect that to maybe be even lower than yesterday.
Just, like, what message do you have for people that are looking right now?
Maybe they got in Bitcoin at $65K,
or they bought at $50K, and right now the price is at $42K.
You know, what kind of advice can you give those people?
You know, kind of from your experience.
Okay. So first of all, you have to determine, are you a trader or are you an investor?
If you are a trader, then
you may have to realize that you made a bad trade
because buying the top and selling the bottom is definitely a bad trade.
However, if you are an investor buying Bitcoin for the long term,
then I'll tell you right now that it doesn't matter whether you bought at $60K, $50K or $5K.
Because in the future, Bitcoin will grow.
That's my very, very clear conviction.
I'm very, very certain of that.
Just go back to 2017.
I know many people that bought Bitcoin at $20,000, me included.
I bought some Bitcoin at like 17, 18, like, something like this, you know?
Because I was dollar-cost averaging all the way up and all the way down.
And there was a point when I felt stupid, where I felt like, "What did I do?"
Like, "I just wasted so much money at the top,
and I could have bought more now when Bitcoin is down at $5K."
But I also realized that why should I worry about this?
I'm a long-term believer.
It doesn't matter what the price of Bitcoin is today or tomorrow
because it's all about the fundamentals of Bitcoin and the long-term vision
and the fact that Bitcoin is the best form of money in the world
and that inflation is growing
and the dollar is collapsing slowly but surely.
And that is not going to change anytime soon.
So as long as you believe in the fundamentals,
stop staring at the charts too much.
And, fine, if you want to trade, that's perfectly okay.
Trading is something that you definitely can do,
but only with a small part of your portfolio.
I would never trade with my whole long-term holdings.
That's--
like, no one does that.
- Not even the-- - Right.
like, a professional trader would never risk his whole portfolio
on any--
on any one single market,
which would be Bitcoin in this case,
or any one single trade.
So if you are too emotionally attached to a trade,
then it means that you invested too much in this trade
and then you're essentially doing wrong.
- That's the wrong approach. - Yeah.
So first, yeah.
So I guess the first thing, determine, are you an investor or are you a trader?
And then from there on, you have to look at your actions.
Okay. So that's awesome advice.
That's similar, you know, very similar things to what I've been telling my audience
over the last, you know, couple of days here.
I want to show you the chart here real quick.
This is the daily chart for Bitcoin.
Obviously, you're riding around right now, so you can't do any real technical analysis.
But you can see, we've been on a downtrend here.
A very strong downtrend.
It looked like, at some point, we were going to break out of it,
but we certainly didn't break out of it.
And we're pretty much below every major support line or trend that we've had recently.
Bitcoin went all the way down today to about $41,000,
which is a slightly lower low from--
from this wick right here that we looked at.
Until yesterday, there was basically nothing in between this line right here and this wick.
We went all the way down to it.
Do you think that this right here may be a bottom?
Or do you think we have more room to go?
Do you think we're going to set an even lower low?
Yeah. So $41K is actually the level that I believe we did talk about in the previous collaboration
as the potential bearish target.
There's a huge support and resistance level there.
And the fact that we are holding there still means that on the weekly timeframe,
we're holding a higher low.
So that's obviously good.
But on the other hand,
if we now were to break $41K,
that would, of course, lead to a, in my opinion, weekly bear market,
while right now we are technically still in a weekly bull market but daily bear market.
And determining the timeframe is always very, very important, of course,
because the weekly can be bullish while bearish on the daily
and--
and so on.
So that's important.
The $41K, that is definitely, definitely the level to watch.
But I haven't talked about that level a lot
that I think that that's a very clear bearish target on the daily timeframe.
And it's a good place to potentially scoop up some cheap Bitcoin for a potential bounce.
So, yeah, that's kind of my two Satoshis on that.
Yeah. So that kind of lines up with what I've been thinking if it goes below--
I've been saying if it goes below 40, it could possibly go a lot lower.
If it goes-- some people are saying 39.
But you're even saying this $41,000 level is very important to hold.
So I think that's very important for people to pay attention to,
you know, when you guys are trying to make decisions on what to do with your portfolios.
Last but not least, I definitely want to talk about Kasta.
You guys had your launch yesterday.
How did it go? How are you feeling?
I think the chart's pretty interesting.
I mean, anytime anything launches, you have a bit of a drop there,
but it's really held pretty steady.
Yeah. It has been holding very, very steady.
So I think that's a good sign showing that the buying pressure is definitely there.
- I am sitting here with the CEO of Kasta actually. - Oh!
Hello!
And--
well, the positive thing with the launch was the insane amount of volume we got.
There was a world record volume of $100 million on day 1.
Wow!
I never saw that before.
Bybit never saw that before.
I don't think anyone ever saw that before.
And you can say that's a good thing
because it's good with volume, of course,
but also it was--
- the hype got a little bit out of hand, - Yeah.
and, of course, the Kastians kind of broke Bybit there
because there was just no way that that volume was--
it was way more than all of us expected.
We expected a lot of volume,
and Bybit actually adjusted for that,
but it went even beyond those expectations.
- So-- - That's awesome to hear.
Yeah. Well, what'd you think of it?
Yeah. What can we say?
I mean, the volume, like we said, we're happy that the Kastian community is so strong
in that sense and
that they, you know, broke Bybit.
It's unfortunate, but it steadied out.
- Approximately. - Approximately within three months.
- Oh, wow! - Yeah.
- Yeah. That's very cool. - Yeah.
- Yeah. Then we're going to-- - I think that--
- We've been working on it for over a year now, so-- - Yeah. Actually, one and a half years now.
- Yeah. Exactly. - Yeah. So--
- We're getting closer and closer every day. - Yeah.
Yeah. This is definitely a long-term project.
We are very, very happy that we are finally getting very close to launching the app.
Because, of course, the token launch,
that's a big step, but the app,
- that's the very big thing. - Yeah.
That's what we, you know.
We have this vision that we want to solve crypto payments,
and the utility around the token, the token is integrated in that product.
- So after that, you know. - Yeah.
Yeah. I think we're very different from other crypto projects
because many projects, they kind of raised money to launch a token based on an idea.
We did the exact opposite.
We had the product.
We were already working on it for more than one and a half years.
- A very, very solid foundation to stand on. - Yes.
And then we decided, now, we're ready for the other step there.
But--
I mean, look at the crypto markets right now.
I think 90% of projects out there,
they don't really have anything and--
That happens in a bull market,
but we want to make sure that we always stand on our feet
and we have fundamentals to backup all of our actions.
And that's what we're doing.
- And we're going to show the app - Sure.
- much more now. Right? - Yeah.
- Because that was-- - We had a small little beta that we showed,
but we're going to show a lot more these coming days
because the features are rolling out now.
- So we'll demo it even more in the next coming days. - Yeah.
And maybe we can even give Ben some access to the beta
- so he can try it out. - Oh, I like that! - That's be very--
- Boom! - Yeah!
That's be cool.
- Our beta tester. - Yeah. Definitely looking forward to it.
I'm excited for what you guys have.
I really believe this project is going to crush it over time.
I'm not saying the price is going to go, you know, up overnight, or anything like that.
It might, but, you know, I think over time, you've got a real winner here.
And that's why we're glad to support you in what you're doing.
So congratulations on the launch.
I'm glad it went well.
I want everybody in the chat, if you guys got it on Kasta,
I want you guys to drop down below what you guys have.
And don't forget to go subscribe to Carl's channel.
That link is also in the description.
And let's get this video up over 10,000 likes.
It should be pretty easy to do, I believe.
Anything else, Carl?
I think--
This was Carl.
This is the other Carl.
- And we're happy to be on-- - Carl squared.
- Carl squared! - Carl squared.
Exactly. People are joking about that a lot.
Well, one cool thing
is that both me and Carl were featured in Forbes 30 under 30 in the same issue.
- Wow! - That's very cool. - That's very cool.
- That's pretty good. - Yeah.
It's a little bit mindblowing actually.
I think it's very cool because it was a dream of ours both,
and--
and that happened.
And, yeah, it's very cool because honestly, that was like a dream of mine for a long time,
- and-- - Yeah.
Forbes, I mean, it's huge. And I mean, you're also a little bit mindblown, right?
- Yeah, yeah, yeah, I am. I do. - It's cool!
I also would--
I would love to be featured in the 30 under 30,
so if you could,
you know, if Kasta does really well,
I'm going to need you to create a time machine for me
- so I can go back and be-- - I'll try to hook you up, man.
- 100% yeah. - We'll hook you up.
- We'll hook you up. Yeah, yeah. - I appreciate it.
Alright, guys. That's all we got for today.
Be blessed.
BitBoy out.