The Wolf Of All Streets - Can Institutions Push Bitcoin Price to $40,000? | Sandy Kaul & Sheldon The Sniper

Episode Date: June 27, 2023

I am joined by Sandy Kaul, Senior Vice President at Franklin Templeton, who is coming to discuss institutional crypto adoption and the potential bull market. Sheldon Sniper will join us at 9:40 am EST to provide some market alpha.   Follow Sandy Kaul: https://www.linkedin.com/in/sandy-kaul-8571877/ Follow Sheldon The Sniper: https://twitter.com/Sheldon_Sniper https://www.youtube.com/channel/UCN9Nj4tjXbVTLYWN0EKly_Q ►►OKX Sign up for an OKX Trading Account then deposit & trade to unlock mystery box rewards of up to $60,000!  👉 https://www.okx.com/join/SCOTTMELKER  ►►Learn How To Trade Crypto With Sheldon The Sniper For Free! 👉 https://school.cryptobanter.com/sniper-school/?source=yt-cb-scottmelker-20230627_sheldon ►►THE DAILY CLOSE BRAND NEW NEWSLETTER! INSTITUTIONAL GRADE INDICATORS AND DATA DELIVERED DIRECTLY TO YOUR INBOX, EVERY DAY AT THE DAILY CLOSE. TRADE LIKE THE BIG BOYS. 👉 https://www.thedailyclose.io/   ►►NORD VPN  GET EXCLUSIVE NORDVPN DEAL - 40% DISCOUNT! IT’S RISK-FREE WITH NORD’S 30-DAY MONEY-BACK GUARANTEE. PROTECT YOUR PRIVACY! 👉 https://nordvpn.com/WolfOfAllStreets   ►►COINROUTES TRADE SPOT & DERIVATIVES ACROSS CEFI AND DEFI USING YOUR OWN ACCOUNTS WITH THIS ADVANCED ALGORITHMIC PLATFORM. SAVE TONS OF MONEY ON TRADING FEES LIKE THE PROS! 👉 http://bit.ly/3ZXeYKd  ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEK DAY! 👉https://thewolfden.substack.com/   Follow Scott Melker: Twitter: https://twitter.com/scottmelker   Web: https://www.thewolfofallstreets.io   Spotify: https://spoti.fi/30N5FDe   Apple podcast: https://apple.co/3FASB2c   #Bitcoin #Crypto #Trading The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.

The ETF madness continues as HSBC in Hong Kong opens trading of Bitcoin and Ethereum futures ETFs to their customers. Also, seeing Bloomberg say that BlackRock has a 50-50 chance of getting approval of their spot ETF. And then Cathie Wood, of course, pointing out, hey, ARK is actually in line ahead of them. At the same time, we're seeing a very likely chance we'll be talking about legislation in the very near future with Republicans proposing some legislation that will be marked up in the next month. And Maxine Waters saying that she needs the Treasury and the SEC to weigh in on it. And of course, today, for the first time in a very long time, we have to mention the fact that FTX lost a whole lot of your money if you guys forgot about that.

I've got two incredible guests today, guys. I've got Sandy Call from Franklin Templeton, and of course, Sheldon the Sniper from Crypto Banter joining on the back half. You guys don't want to miss this one. I'm so excited. Let's go. right down below. We do have a lot of ground to cover today because I have two amazing guests. If you guys missed it on Twitter spaces yesterday, I once again hosted Warren Davidson. We talked about, obviously, his movement to fire Gary Gensler and to restructure the SEC. We also spoke a bit about some of the topics today, which is the likely, hopefully, maybe approval of a Bitcoin spot ETF in the United States, what that would mean, and also, of course, his goal of reconfiguring the SEC, which I think is a bit more of a long shot. But if you guys missed that, you can see it on my channels. You can

listen back. Today, we have another huge Twitter spaces coming at 10.15 a.m. Eastern Standard Time. Now, I'm going to dig into the news very briefly, then I'm going to bring on Sandy, and we're going to talk about it. It'll be just a couple more minutes. Of course, here, listen, we talked to James Seifert from Bloomberg. He said he thinks there's a 50-50 chance

of a BlackRock spot ETF approval. He thinks that perhaps they view Coinbase as a market of significant size. That's why they've chose them as their custodian and who to track. And also the fact that they have a surveillance sharing agreement with Nasdaq, which could differentiate them from the other applications. I think most other people say, dude, the SEC needs to approve all of these things. And BlackRock is no different besides the name BlackRock at the top of it. But we will get, I think, a bit more into that.

But Circles, Jeremy Allaire says Bitcoin ETF is likely to be approved. He shares the sentiment of the Bloomberg ETF analyst that we spoke to. This is what he said. So I believe progress is being made with more mature market structures that would support something like that. You have mature spot markets, well-regulated custody infrastructure, and good market surveillance. Many of the past concerns are being addressed, suggesting that these kinds of products are more likely to be custody infrastructure and good market surveillance. Many of the past concerns are being addressed suggesting that these kind of products are more likely to be approved for general investor access. I obviously made a face when I said well-regulated custody infrastructure because if you watched my channel last week, you know what's happening with Pratt

and Trust. And they are a regulated custodian in the crypto space who may or may not have attempted massive fraud to cover up that they lost some private keys but i do think in general that this probably means we're just going to consolidate into other institutional trusted custodians guys what we're going to be talking about here is not going to be prime trust we're going to be talking about bank of new york melon state street the big boys that's why we we have someone from Franklin Templeton here to talk to us about it. Kathy Woods-Ark says it's first in line for spot Bitcoin ETF. And she's right. This game of whack-a-mole shuffle is absolutely hilarious because we've obviously seen, I believe, 22 previous spot Bitcoin ETFs approved, which is

60 plus rejections or kicking the can down the road, as we like to call it, that the SEC has done. Kick that can three more months, kick that can three more months, kick that can three more months, reject it. That's what we've seen over and over and over again. But as this reshuffling happens and people see BlackRock filing and then they attempt to refile, well, the person who's left standing right ahead of them is Kathy Wood. And she makes the point here that the surveillance sharing agreement, while a differentiator, is easy for any other ETF filer to just add to their prospectus. So they can basically go back, add that to the prospectus, and they have the same thing. So maybe the differentiator here

will be which exchange people are registered with. Right now, BlackRock is the only one outside of Valkyrie who just re-registered with NASDAQ. How this actually works is that you register with the exchange and they're the ones who generally approve and list the ETF. So it's actually the exchange that you're registering with, not necessarily the ETF. It's a bit confusing, but we have them with CBOE, NYSE, NASDAQ, all the way across. So if NASDAQ gets approved, that could also be a differentiator here from Cathie Wood. And of course, HSBC Hong Kong launches support for Bitcoin Ethereum ETFs, setting the world on fire. The Winklevi twins tweeting about it,

saying that the United States is behind Hong Kong and China. But wait, guys, these are futures ETFs or packaging of existing futures ETFs. These are not Bitcoin spot ETFs. So they are not technically ahead of the United States. I think the story here is just that we see China opening the doors and the United States closing the doors. And I think that that is a bit more disconcerting. But these are products effectively that we already have. We have BITO, BTF, Valparais. We have futures ETFs, and they've arguably been not so great for the market. If you guys remember when those were approved, much like when CME futures were approved in December of 2017, those marked

almost to the day the tops of Bitcoin price and those market cycles. So a real spot ETF probably would be different. Now we have to talk about something that everybody loves. It's our favorite topic. I've actually avoided it for months here. But Justin, Bankrupt FTX says they've recovered $7 billion in liquid assets. This is their chart of what they've got here. Liquid, they're calling their ledger-primed Robinhood and these other assets $900 million worth. Semi-liquid, which I guess we're counting as liquid, which includes, by the way, almost $543 million in FTT. I don't know how liquid that is by definition, guys. I mean, imagine trying to

sell $500 million in FTT on the market and see what that does for price and see if it's still $7 billion in assets. I mean, guys, you can look down this, but semi-liquid is $5 billion of effectively this $7 billion they're talking about. They have $9 billion total here, but completely illiquid on $3.2 billion of those assets, like their venture capital book, Twitter, their Twitter investment, a bet on Trump to lose. I mean, this is where we're really down to like that $7 million of this balance sheet. The bottom line here is that there's still a humongous hole. FTX bankruptcy team is saying that the exchange owes $8.7 billion to customers. They have $7 billion in liquid assets, the bulk of which are marginally liquid. So not great news for creditors,

although some are skimming it that way. I think that there's still a massive hole here to be fixed. And to that end, very unlikely that we get an FTX 2.0. Thank God. Guys, if we get FTX 2.0, I'm walking up to my second floor and just going to walk off the top of, I probably will just get hurt, to be honest. I'm not going to be so dramatic about it. But I don't think in the history of markets there's been a worse idea than FTX 2.0. Except for maybe unless we start floating Enron or Theranos 2.0s and maybe we let Madoff's kids run an open Ponzi scheme. I don't really know. But is there a more damaging brand name to the crypto space and to retail awareness than FTX? Literally call it anything else. You

can take the technology, which apparently was superior. I don't buy that. I think all these exchanges are fine. I don't think there's anything unique to what FTX has at this point. And everyone would just hate us 10 times more than they already do. I can't, the idea of an FTX 2.0, it makes me want to vomit in my mouth just like a little bit. But it's not too bad. And finally, before I move on and we get to Sandy, which I'm so excited for, Representative Waters wants Treasury SEC input on the Republican crypto bill. I think it's funny that we're skinning like now the bills are Republican or Democrat.

It's just the crypto bill. And there's actually people on both sides of the aisle that are openly supporting this. And the things being proposed in this case are just very sensible legislation on stablecoins. Much of this being borrowed from the Lummis-Gillibrand bill of last year in the Senate, which Lummis is a Wyoming Republican and Gillibrand, of all things, is a New York Democrat. The two of those people coming together to give sensible regulation, that should be the story that this is a bipartisan issue, not the fact that we're going back to Maxine. I took a lot of pictures with SPF and I'm super embarrassed. Waters here and her points. What she's saying here, the door is always open for crypto companies to register

with the SEC. So she is towing the party line on the Gary Gensler talking points there. And she says the securities laws, which have worked for every other industry for 90 years, can also work for crypto firms. So she's concerned that the CFTC is going to get more control here over the regulation and wants it to be pushed towards her friends in the SEC. I'm not even getting political about it. It's just there's no reason that very sensible, hey, a stable coin should be able to exist, be backed by these assets, be audited. I don't see how that's a partisan issue, but I've got someone who might be able to help us with their thoughts. I'm going to go ahead and bring on Sandy now. Sandy, I have to say, hi, welcome. Hi.

Out of nowhere, and I said it to you when we recorded, ours was one of my top five most viewed, listened to, watched, commented on podcasts of all time. And I said that to you when we were recording. I was like, this was just incredible. It's going to be huge. And I don't know, because you got to get them in the door first. Maybe it was our title that said 1.3 trillion Franklin Templeton that got them in there. But absolutely one of my most popular conversations. So you really struck a nerve there. Great. Well, I had a lot of fun doing it with you, Scott. So I'm happy to be here today. Well, now we get to run it back. So listen, Franklin Templeton, obviously one of the largest asset managers in the world, certainly in the United States, roughly $1.3 trillion

under management. But you guys have been in crypto for a while. We're hearing the Black Rocks and all of these names, but basically you and Fidelity are the only two institutions I can recall that have been here for a long time. So does any of what's happening now change your view, both positive or negative? Well, look, I think what's happening now is very positive on a couple of fronts, right? I think first off, all this talk on ETFs, while many people may scratch their heads and say, well, what's so important about an ETF, is you have to understand that ETFs have become in the past decades, Scott, the key vehicle to really start to deliver portfolios at scale, right? It is a vehicle that is being used for wealth portfolios, robo-advisory portfolios, institutional portfolios. The ETF is a vehicle that has become very commonly used throughout the financial ecosystem. through an ETF structure, is really setting up that bridge that can allow broad mainstream investors to get access to crypto exposure without needing to go through the learning

curve, which is tough for especially older investors like me, setting up a wallet, getting something cheap, trusting unregulated exchanges, right? This is a way for these investors to begin to put that portfolio allocation of crypto into their portfolios to get the diversification benefit, to get the upside benefit. And it could really open up the gateways, right? And then as they learn more, that's when you could really start to see people moving beyond the ETF type exposure and getting more and more interested in altcoins, more and more interested in the actual growth and the development and the advancement of the ecosystems

that are being developed in the crypto world. But they need that bridge in. And that's why I think people are getting so excited about ETFs as a structure. And that would probably bridge them to learning more about the asset class, self-custody, all the things that we sort of harp on, but you have to be able to start somewhere. And it even goes deeper than what you said. I think there's the part where people would trust it and they need that vehicle. There's a lot of people who literally, either they work on Wall Street, something they cannot buy spot Bitcoin, or they're only allowed to buy so much with a prime broker. This would open the doors to all those people

who even just can't for various reasons buy Bitcoin, right? Yeah, and it's really moving it into the accepted financial ecosystem. Yeah, I have a pre-goal. Is Bitcoin going to be around? is bitcoin going to collapse to zero i mean the number of times i've had people hold up pieces of paper for me and rip the paper in half and say that's what bitcoin is worth you know all those people are you know now filing for etfs so i think that did you tell them that it just doubled in value i didn't you got two of them now. You got one and it turned into... Right.

So with the positioning now of ETFs, with BlackRock, has that changed Franklin Templeton's strategy at all or has what you're doing been well in motion? I know, obviously. Does that not change at all? Yeah. I mean, look,

we are big believers in the whole space, right? We have built our own products, both in the regulated listed token space, listed security space, and we are building out research and model portfolios that we're delivering through SMAs and through institutional mandates that we have over 10 model portfolios now that have anywhere from 15 to 20 coins in them that we're doing individual research on. So we're big believers in the space. And you and I talked about, we have this thesis that the emerging ecosystems are really the next digital frontier risk asset, right? They are really like digital nation states. They have their own currencies, the governance, transaction rails, entrepreneurs, building, customers coming, right? These are growth opportunities. And what we feel will happen is that as the broader investing community starts

to understand that a level of innovation that's happening in this space, this is where they're going to want to move to get these exposures to outsized growth, right? You're always looking for that next growth frontier in a portfolio. But we think that the ETF structure, as I said, is this bridge that's letting more people in. We've already been working on an exchange-traded product in Europe. You'll hear more of us in the US. But we want to stress that it's just a stepping stone. We still think that the real goal is to open up all of the ingenuity and creativity that is really, really exploding in the crypto space. But a lot of people don't see it because it's hard for them to access and it feels like you need a lot of specialized knowledge to participate. And that's

what the ETF may help solve for. It sounds like Franklin Templeton is playing 4D chess because you're way ahead. If the expectation is that one day, whether it's these or not, a Bitcoin ETF gets approved, it brings more people into the space, you're setting up the infrastructure, availability, research for people to go further down the rabbit hole and into these other assets that you believe in, which is a very, very different, I think, approach than almost every other institution I've spoken to. I mean, even Fidelity doesn't go that far down the rabbit hole that we see that much research on 20, 30, 40 assets that you're talking about. So there's a real poor belief that

this goes way beyond Bitcoin and Ethereum. Absolutely. I mean, look, we're a 75-year-old firm, right? We're a 75-year-old firm that has made it through. Think about how many business cycles we've been through in the past 75 years. And the only way you do that is by really thinking, where is innovation occurring? How do I move into those asset pools and make them available to my customers? And to us, this is all about really making sure that we are delivering to our customers the best portfolio opportunities. And that's where we see huge potential in this crypto space and we are committed to it. And if it takes five years, that's fine. If it takes 10 years, which I don't think it will, that's fine too. But I think that it's

going to happen a lot faster, I personally believe, than most people anticipate. I wonder if we get a Bitcoin ETF if then we just start hearing about Ethereum ETFs immediately. Do you think? Yeah. And then why not multi-coin ETFs? And then why not, if we're doing multi-coin ETFs, why then can't we start to blend securities and ETFs, right? If I'm trading

the technology sector and I'm looking at software development platforms, shouldn't I be putting Ether and Solana and all of these other development, you know, L1 blockchains and some of the emerging L2 blockchains into the same portfolio where I'm holding software development companies, right? So I think that this idea that there's a separation thematically between what trades as a company and what trades as a protocol, that we'll see that whole differentiation collapse in coming years. Well, I love that. I'm trying to wrap my head around the idea of ETFs that have top 20 market cap coins or AI-themed crypto ETFs that have top 20 market cap coins or AI themed crypto ETFs. But it actually does make

a lot of sense to your point. I've never really thought about, but blending like a Bitcoin miner ETF that also has spot underlying Bitcoin. So you get the volatility of the mining stocks with the stability potential is really endless. So does that mean that this is finally happening now? I mean, does the name BlackRock carry so much weight that you think they could literally move to the front of the line and get this done? ARK is pretty huge too. I mean, they're now the top two. Yeah, but BlackRock is BlackRock, right? BlackRock is so much larger than any competitor and BlackRock so dominates the ETF category that having BlackRock put this application in does carry a weight that someone like an ARK or really any of the other firms filing doesn't carry. But as you noted in your setup, right, it isn't approved, right? So just

because it's filed doesn't mean that it's approved. And in many cases, there's a lot of talk that, oh, well, the SEC only wants to encourage TradFi to come into the crypto domain. And this will be really interesting to see, right? Are they looking to create the pathway by using TradFi or are they going to be equally as resistant to BlackRock's application as to all the other applications that you noted earlier that they keep delaying, delaying and rejecting? So we don't know yet.

Yeah, I guess it does remain to be seen. Listen, we're talking about the good that came out a week and a half ago, the BlackRock ETF that sort of set the market on fire. It would be a bit disingenuous not to talk about the bad that happened earlier that week, obviously, or in the past weeks, which is the SEC's uptick in enforcement actions here. Finance, I don't think any were so surprised. I think a lot of people were surprised that Coinbase was within 24 hours. So did any of that as much excitement as we have now about the ETF? We were at peak depression a week before the CTF twos came and Bitcoin seemed to be dropping. So is any of that of concern? Does it affect the way that you guys view the market if the SEC seems really to be taking this new aggressive tactic? As I said, 75-year-old firm, right? We're going to be able to maneuver wherever the SEC wants us to go,

wherever the CFTC wants us to go. And as they're making all of those decisions, we're a global asset. So you noted earlier the really exciting moves that are happening in Hong Kong, the exciting moves that we've started seeing coming out of the Middle East, out of the UK, the greater embracing of the overall infrastructure opportunities in Europe, what we're seeing down in Brazil. We operate all over the world. So we're really moving forward where regimes are ready to move forward, working with the SEC and watching where they're ready for the ecosystem to progress. And we're going to move in all of those locations because this is something we believe is going to become a core part of our business over time.

Yeah, we just talked about Hong Kong, obviously, opening the doors. We're seeing them push their banks to service a lot of the crypto companies that lost their banking rails in the United States, obviously opening the door to retail to buy ETFs. Were you surprised to see Hong Kong coming in so aggressively? Do you think this is actually related to the crackdown? Or do you think that it's just coincidental time? I don't think there's anything coincidental going on with Hong Kong these days. I think that, look, in many ways, China was far ahead of where anyone else in the world was for quite a period, right? They were the first to develop their own CBDC. They've been doing policy experiments, which were not seen any other government really trying,

where they were actually depositing money digitally into individuals' accounts, and it had like an expiry date. So talk about having an option to pump the economy, right? If you've got money in your account and they tell you it's only good for the next 48 hours, I think most people will find a way to spend that money, right? So I think China is testing the waters through Hong Kong about what it can do in the international marketplace. And I think that this starts to play into a lot of political and geopolitical maneuvering that's going on. And you could start to see a real backlash growing within the United States

if we don't start to get rules in place and if we don't start to get a more inviting sandbox for people to be finding the right path forward, right? I don't think it's necessarily that the existing rules are great. Come on, sign up for them. Well, if they speak that way, he'll tap, right? Like, what is the pathway? What is the paperwork you need to file? Where are you going to get the approvals? Right? I think there's a lot to fill in on the SEC's current stance and that if they're serious about thinking that the rules are adequate,

they should be coming forth with more guidance on how to get there. Yeah, I agree. And then on top of all that, you have to be insanely wealthy to even go through that process if you could register. I mean, if you're just an entrepreneur with a cool idea that's blockchain-based, where are you going to get the four or five million dollars to even attempt to get this approved, knowing that it's going to take years and you're likely going to get rejected? Yeah, I mean, and that's I think that's something that they also have to address, that this is an innovation space, right? This is where you're seeing a lot of new thinking coming forward and you don't want to shut down those pipelines. So I think that there has to be some accommodation made for the capabilities that these technologies provide and how it does really kind of open a lot of questions while certain aspects of what we're

seeing fit the Howey test, and you can look at them as securities. Other aspects of what tokens enable really open up the dialogue as to, are they more than just a security? So I think that there's still a lot of unsettled thinking that still has to be done. I still don't understand why security has to be such a bad word. Maybe they are all securities, but maybe being a security should be easier to determine and there should be a framework in which you can operate as a security. That to me is the biggest problem is that security, which is supposed to be a positive thing that helps protect investors and working within a framework and disclosures and transparency, that should be good. But now

everybody just wants to avoid being a security. I mean, security is not a dirty word. I mean, security is something that's the foundation of many people's wealth throughout their entire career. So I wouldn't throw the baby out with bathwater. I mean, I think we just need to get there that works for a new industry where the technology is enabling things that don't quite fit as neatly into premiums. So you're obviously deeper down the rabbit hole than most institutions. What's really exciting you beyond these big news stories? The ETF obviously dominating headlines and regulation, all these things, but head down, what are the innovations that you're seeing? What's being built that gets you actually excited? Yeah. I mean,

I think that some of the most exciting things that we're looking at right now is this growing understanding that tokenization allows for the velocity of transactions to increase and the utility of transactions to increase. And therefore, what can you do with that combination? And we think that, you know, a couple of the big areas we're watching, Scott, that we think are super exciting is this idea that we are going to see new alternative marketplaces emerge that are going to be focused on assets that everyday individuals like you and I understand, right? I mean, the current alternative markets, private equity, private credit, infrastructure, a lot of that is sized to big institutions. But, you know, if I want to put something that really resonates with me and I enjoy in my portfolio, you know, I want to be able to own royalty rights to the bands I like a lot. I want to be able to own collectibles that really appeal to me, be that sneakers or be that jewelry, right?

Or handbags, right? These are all assets that have been, you know, for years having value, but they're very hard to make accessible, right? And so we think that there's going to be this new thinking emerging that really combines like, what do I as an individual, what resonates with me, what do I enjoy in my life, and can I create an investment portfolio that gives me investment returns and investment income related to those items, but at the same time, because they're programmable, lets me have an experience because of my investment portfolio

that enriches my life. So we love this idea of a new class of alternatives that are really offering experiential tokens is what we're calling them. And I think that you'll see more of that start to really come into being over the next two to three years. I think it's a really exciting space. I mean, it went largely unreported last March in the BlackRock investor letter from Larry Fink that he said that everything will be tokenized effectively and that the U.S. was lagging in innovation. This is obviously months ahead of the ETF approval,

but this was his quote. I believe the next generation for markets and next generation for securities will be tokenization of securities. So outside of even the experiential side that we're talking about, this is saying, hey, we're going to have 24-7, 365 settlement of stocks, which will be trade and tokenized. This is Larry Fink.

There's nothing more disruptive than BlackRock saying that. Nobody's talking about that side of it. Yeah, and that's where you're seeing much more progress in Europe actually is where they've really been focusing on that tokenization of securities, individual securities. And when you think about the opportunities, right, if I can tokenize these securities and I can tokenize other assets, think about the ease with which I can start to put portfolios together. And one of the things our head of digital assets talks about a lot is this idea of a token of tokens, right? Instead of a

investment fund, which is what we have today, my fund might consist of a whole set of tokens that have been put together for me based on my personal profile and interest. And then that entire set of tokens can be embedded in a token so that if I change jobs, if I want to move into a different geographic jurisdiction, that whole portfolio can just move with me. So I think that we're going to see a lot of excitement both about how the operational aspects can improve and create better experiences for individuals and in what the portfolio is consisting of. See, I love the vision. My question then always surrounds the incumbents that get disrupted by something like that. I mean, we're talking about the biggest institutions in the world. When we talk about payments being disrupted, you're talking about

effectively putting the visas and MasterCards and PayPals and Swift, right? I mean, to some degree out of business when we talk about tokenizing assets, we're talking about Citadel and, you know, the clearinghouses and stock exchanges, although I'm sure they'll innovate to adopt to this. So I don't think that that can happen very fast, right? I mean, they're not going to just let this slip through their fingers. Hey, and don't underestimate people, right? I mean, these are smart firms. They understand technology. They understand what's happening. Don't underestimate the ability of some of these players

to really reinvent themselves. And I think that that's really going to be the differential. It's not going to be the role that you play today that's going to determine whether you're succeeding or not. I think it's really going to be the level of creativity and the ability to embrace new thinking that's going to really differentiate who succeeds in the new environment. And a lot of the people who succeed may be the brand names that you're talking about. And a lot of them may be names that aren't even, you know, commonly known today. And a lot of the existing names known today may not be able to make that transition and

they may fail, but that is a normal part of business cycles. Yeah, that makes a lot of sense. I think more of them will be the codex of the future to be quite, quite frank. It'll likely be new ones. But then I guess the question becomes, wouldn't they have had to have started working on this already to be ready for when that transition happens, like Franklin Templeton has and like Fidelity has. If they start when the wave is already sort of, you know, washing over this, they're going to be far too late. That's my concern with the United States in general. If we crack down too hard on regulation, all the innovation goes elsewhere. And we know how fast this market moves, how fast this innovation moves. By the time we get something sensible, we'll be five, 10 years behind.

Yeah, but what you'll often see is that there will be players whose entire purpose becomes helping close that gap and getting some of these firms that started later caught up. And I think there's a lot more happening under the covers across the industry than people are admitting to right now. BlackRock's been very upfront with it. Franklin, Fidelity, but many firms. Everybody has a department, right? I mean, listen, you could have Jamie Dimon out talking about how Bitcoin, you know, he would fire his employees if they touched it.

But we have JP Morgan coin and Cadena was a project that was basically founded by guys at JP Morgan. And we know that JP Morgan is using it for settlement. So I think there's a differentiation between the crypto asset class that maybe alienates people and utilizing the technology and finding ways to dominate in the space in the future. Also, I think it's fair to say once the United States gets sensible, no matter what's been built offshore, everybody's going to want to immediately come back and have a presence in the United States. It's the largest retail market in the world. It's larger than the next five retail markets put together. Of course, people are going to want to be in the United States.

Yeah, it makes perfect sense. And before I let you go, anything else really exciting? Any final thoughts? Want to do quick updates on Franklin Templeton we might have missed? No, I just think that, you know, we really appreciate this partnership. We really believe in this space. You know, we come from a trad-fi background, but we really believe in embracing innovation where it's happening and on the terms it's happening. So we're excited to be working with you and working in this space and we look terms it's happening. So we're excited to be working with you and working in this space and we look forward to more partnerships. Awesome. Thank you so much, Sandy. Really appreciate it. You're welcome back, of course, anytime. And we got to get you on Twitter Spaces. I know you're not a big Twitterer. I will do it for you, Scott.

But we got to get you there. Thank you so much. Everybody, please check out. I think we have your LinkedIn links down below if you need to reach out to Sandy and figure out what's happening over at Franklin Templeton because it's a lot. Thank you so much, Sandy. Thank you. Awesome. So inspiring. I love that there are institutions

that actually understand what's happening in this space and are looking to innovate moving forward. Like she said, I think that there's a lot happening under the hood that we don't know about, which makes me a little more bullish on the regulatory side. I don't think maybe it's going to be as bad as we think, considering we're talking about the biggest institutions in the world who work with these regulators and speak to them on a daily basis. It does, to a bit, feel like maybe we see the

crypto natives who built it maybe in a less regulatory clear environment go away. But I do think that this space is going to be around for a very, very long time and largely controlled by the Wall Street side. Guys, now we're done as we've been doing with the new format here. We talk about the news, try to talk to a guest, and then we bring on a trader. And this is the first time that we've had him today. I think we're benefiting maybe from banter not being on right now because ran is out in la doing killer whales uh which is the shark tape type show guys i know you all want it we got sheldon the sniper what's up man i think we got you hi brother what's happening thank you thank you thank you for having me bro this guy's it's an, man. You come bless us with the presence over from banter over this year.

But a lot happening in this market right now, man. I know that you're watching a lot of things. I've got my clickbait title here. Can institutions push Bitcoin price to 40,000? I think yes. I don't even think that's a clickbait title. What do you think of Bitcoin right now? So you got to have your thoughts about what's clickbait, what's not. For me, this market's going to do whatever it wants and whatever scenario plays out, you got to be ready. So there's never anything in my brain that says Bitcoin can't be 40K in the next week, because if I do have that scenario in my head, at least if it does happen, I'm not surprised. And I think that's the big thing you got to run with this market is anything happens

at any single place. So obviously, recently, we've had this little Bitcoin push. And I think we can't deny anymore that the market has started showing a really good amount of strength from the bulls, specifically after the last week. You know, we had eight weeks to the downside, a lot of FUD. And I started to look at my little emotion chart there to be like, where's everyone emotionally at the moment? And they're saying it's going to zero.

Everything's going down. And I was like, whoa. Yeah, it's so like, you know, we kind of joked that everything's in the chart. So if you were watching sentiment after the Binance and Coinbase enforcement action, and you were like like you said everything was going to zero the blackrock utf news shouldn't even be that big of a surprise

because you knew something was coming to the other side exactly exactly and again so i will share my charger let me know yeah yeah go ahead you go down present at the bottom i think you've probably used this before but yeah yeah i'm not used to being on the guest side but i'm definitely i know it's confusing but we got you man so obviously what happened, Ro, was we ended up having a really good start of the year. We ended up going all the way to this resistance over here, which was the first May crash of the 2020 bull markets, 2021 bull markets. And basically since then, we've been below, we've been below the previous resistance. And it was nice to see this year after the FTX collapse that we started the year

off strong. And I think the first week of the year, we reclaimed a very important moving average, the 200 day moving average. We started to show a little bit of progress, we turned it into support. And from then, Bitcoin's been on a little bit of a rampage. And I think the big question was, was, is there still depression to come? And I think, you know, this was a big thing because it's like, there's still a bunch of junk in the market. Even though we've been through so much, there's still so much within the market. Are they going to send it through this crazy phase that I heard about? And I'm sure you were in that phase too of the 2018, you know, the 2018, 2019, when nothing was happening, like, was that still to come? And ultimately, you know the 2018 2019 when nothing was happening like was that still to come and ultimately you know we got to the major resistance and we rejected and everyone just

went down to the point of that was it we possibly coming down to test the range lows or we're going to go to depression for a while and then last week came or the week before came everything was going to an end and something very simple as the weekly stochastic RSI was getting to the bottom. And it's like, as much as things are seeming very much to this point of, it's all coming to an end. Guys, it's a big lesson for you within crypto. You've got a specific amount of coins and people want those coins. So whatever comes out and whatever panic comes out there, you got to make sure that you focus on something that doesn't allow your emotions to overpower you you know the biggest thing that we're doing in these markets is we're throwing away our bitcoin and our tokens by fud and by fear and for me i jumped onto the chart i saw us make our way down i had a very important trend line on the weekly just tracking the

momentum that's all that i do i don't need to predict where bitcoin's going i just got to track the strength to the upside or the downside and And we hold in the line. And the fact that we got there and we literally hit that, the 200-day moving average and the RSI reset, we had a bounce. And therefore, what happened was everyone that got trapped through the FUD last week literally got erased and they want to buy back now. And that is the thing. It's a rinse and repeat, right? Because humans get a human, you know what I mean? Like every single time the people who say it's dead, they sold it. They're never coming back. Wait till Bitcoin's $50,000 and they're all buying back at twice the price they could have just gotten it out. That's just the way it works.

When I look at that chart that you're sharing right there, I mean, I have effectively the same ones. What I find astounding that that move at the beginning of the year that erased all of the FTX FUD right so November you saw this massive drop one big ass candle FTX gone back above it now we have the same thing we had a kind of a huge move up and then we had this 10 weeks and culminating in Binance and and Coinbase one week like god it's crazy I've seen some pretty big moves but we're erasing the worst news in the history of crypto, FTX, Binance, Coinbase I've lost a lot, but we started to rise up. And I think through these, because I remember this candle over here was the USDC. They were saying the BPEG or whatever the USDC, that was a whole nother piece over here. And I think those, when prices going up and they're hearing this foot, I think those that went through all the

blood over here, they thought, you know what? This is definitely going down again. I'm going to offload, cut my losses now. And that's where it wrecked them. But now we're at an interesting part because where we're sitting right now, we have a little bit on the shorter timeframes. RSI is a little bit to the top. You know, your next week, two weeks sort of analysis. But when you come into the weekly,

you know, you've literally had eight weeks to the downside. That's got erased by one engulfing candle. And now we're sitting at that crazy resistance. And this little previous move that happened right now of this push to the upside was a short, medium timeframe, short squeeze. What I'm interested in now is do they get through this next level? Because the way it works with me with trading is as much as I love tokens and love fundamentals, I just trade gaps and areas.

And for me, after this zone over here it says if we have a solid breakthrough this area we are entering the the possibilities of a 35 to a 40k bitcoin and ultimately this would create a weekly squeeze to the upside and the big thing is anyone that again thinks bitcoin is going down to those lows and the low is not interest yet he's trying to short this area right now therefore their stops are sitting just above the zone here and ultimately what will happen is if price gets through that it's going to trigger a bunch of stop losses start to squeeze that doesn't even need a lot of volume and then what happens is when price starts to enter these higher levels and retail

come back all of those who sold here come back and they start to enter up there. So what this is starting to create is it's starting to create the dominance to hit to this rally to the upside. And I think the dominance is a very intriguing topic to speak about. And I would love to speak about it to you with your knowledge as well. I've become anti-dominance of late. So it's always a good conversation because I used to use it. Now I use it a lot less. So I would love to hear your thoughts on it. I've debated this with Ran as well. So the only thing that's intrigued me with dominance was obviously we thought the days of a 50, 60% dominance were over. We thought that altcoins are playing a way bigger role these days.

And again, we just got proven wrong where big daddy's coming through and through the hardest times, money's flowing there. And the fact that we had the bank collapses and so many things happening, the strength of Bitcoin has been powerful. But what was obviously very interesting over the last month is we did break through this important range we've been in for a while. And what it basically seems is this exactly three years. And ultimately, we started to get a rampage to the upside. Now what we're starting to do is we finally broke the 50. And now we're looking at possibly, you know, the regions of the 53 to the 60%. Sounds crazy. But it all now has to play back into the Bitcoin chart.

You have these gaps, right? You've got the gap above 31.2 to the 40k. And then you even have a possibility of a 45k region. And it all depends that is this the area? And I want to ask you about this because you were there through the 2018, 2019 sort of era, right? You were there experiencing at the time. That was when we had the reset of, you could see how Bitcoin just ran. Look at that. You just came through a downward cycle and Bitcoin went on this rampage to the upwards obviously what was really good with it is at some point it has a flush into altcoins and therefore you are getting this this um sort of market cycle of bitcoin ethereum altcoins bitcoin ethereum altcoins

and that's where it starts guys it always starts off with the bitcoin run to the upside and then it starts to get diversified and ultimately start forming these flags that then get in. So for me, as an altcoin, as someone who's interested in Ethereum, I've been loading up before the hype has come. I've been loading it before it does start going through those craziness. The only thing is here

is this may just be the start. This may be Bitcoin domination just for, let's say, the next three to four months. It would rationally make sense. Yeah, I mean, that would rationally make sense. But first of all, I don't think we go back to those same 70, 75, 80% highs. A few things that I agree to note, and this is why I talk about Bitcoin dominance being different now.

I'm not saying it's useless, but there's a few things. Bitcoin dominance is a reaction to what's happening in the market, not a predictor, right? You can see alts are getting wrecked. That's why Bitcoin dominance is going up. But to me, it's not telling you alts are about to get wrecked. It's telling you alts are wrecked, right? That's one. B, in that 2018, 2019, stablecoins were like a $5 billion market cap. There were no stablecoin trading pairs. And if you wanted to exit the market from alts, you had to buy Bitcoin and then go out to USD. That was the driving factor between the massive move in Bitcoin dominance. When people were FOMOing out of their altcoins,

you literally had to buy Bitcoin to do it with your altcoins because there was no USDT pair and no direct USD pairs. Now stable coins are like 125 billion of the market, roughly. So it's very different. That's the argument, I guess, to use dominance without stable coins as the chart, although it shows you the same story. So the thing is with dominance, I agree it's a trap. It's a trap because right now it's breaking. We see it all over crypto Twitter. Everyone's thinking, should I get into Bitcoin? And that's the big thing. I'm looking at all coins now. I'll just tell you, flat leap.

Flat leap. I'll show you. I have to even find my dominance chart. But if Bitcoin dominance was a shit coin right now, I would be shorting the hell out of it. That's all I'd say. And look here, just to show that to you again, our size are getting to the top on the week. With bearish divergence. With bearish divergence.

Exactly. You can see it right there. i don't even need to like look at it i'm trying to get i have a couple of these but uh so yeah same thing yeah same idea you get it so ultimately guys what they're trying to do is not only did they try fud you out of the entire market now they're trying to fudge you into bitcoin and this is just me as a chart sort of guy this is where they're going to make you want to sell your altcoins. And here's a perfect example of one of the altcoins I want to speak about. It's Solana. And I would love to know your takes on this. As long as you're not of a tech, it's going to be worth it.

What are your thoughts on the Robinhood and Celsius sell-off? I mean, I haven't talked about it today, but for anyone, since we're going to talk about Solana, anyone who doesn't know, Robinhood made the announcement that there's, I think it's today. Well, today is the end of support for Solana Matic ADA. And we all know that means they have to sell them off in theory. And also then Celsius is going to be selling off the exact same assets by like July 1st. First of all, I don't know if it's as big a deal as we think because Voyager, others have done that. They just did it quietly and you didn't notice it in the chart, but you can go ahead.

I agree. For me, it's showing the damage has been done. There might be slightly shorter timeframe damage, but ultimately, again, it's the news. You know, the news is coming in and ultimately you're too late by the time the news has come through. These guys are way smarter and I kind of feel we don't even know a lot more to what is seen out there. When it comes to the chart wise, it's again, you know, you're looking at a token. I'd love to know

if you still believe in Solana. Do you still think Solana? I do. Yeah, I do. Because when you look, when you dig in more fundamentally, when you dig in more fundamentally to it, developer activity is still up. I mean, these guys put out a phone. I'm not saying that that's going to get major adoption, but Solana has largely corrected most of their issues. We haven't heard about their downtime that we used to. I mean, I just think there's a lot of people who are still passionate about it. And once again, this is the narrative thing you're talking about.

This is like, this is Elon Musk goes on Joe Rogan and smokes weed and Tesla's going to zero and you buy Tesla and it goes up 10 times. Exactly. So me personally, I've been buying a lot of Solana. Exactly. So me personally, I've been buying a lot of Solana. Me personally, at the moment, I've been getting in a lot. It's the same thing within the dominance. Everyone's now focusing throughout on Bitcoin. I think Bitcoin's overpriced at the moment just to accumulate for the longer term. But I look at this chart over here, firstly, seeing a great possible double bottom. Secondly, seeing how the market literally went

through this full bull cycle and ended up completely back to the reset. And this is what the market completely back. The difference this time, though, and what people don't realize, it may have been three years later. Anything you have in crypto, guys, it works as something as resistance and support. Something that was previously a top must come and be tested at some point. You know, this is how things work.

And ultimately later on, three years later, four years later, we've had this retest. And what was previously resistance where people thought Solana was expensive then is now the new floor and the new base at the moment. Secondly, what I have is I have this RSI tapped out at the bottom. So again, are we going to sit here and say news is going to come and bring it down the same as two weeks ago where everything was going to zero? The news is past. The news is past. And secondly, above that, why I fell in love with technical analysis was I could look at an approach that's not emotional and not my opinion. It's literally what the chart is showing right now.

It is showing on support as things speak, showing an RSI on the weekly, which means that ultimately after this, we can be looking at a couple of weeks, if not a couple of months of some return from the bulls within Solana. And ultimately for me, it's like, this is something that has come down. If I look at here price-wise, just to Bitcoin pairing alone, you literally have Solana down by 90%, 90% to the Bitcoin pairings. So are we going to go now and literally go panic sell? So the big thing you want to focus about guys is I'm buying this floor at the moment. I am buying it for the sense of making Bitcoin. I love Solana. I think they have a good future, but for me, ultimately I'm running a lot in this bull market. I threw way too many

Bitcoin away the last bull markets. And ultimately, whatever I am trading now, I am trading to make Bitcoin. And therefore, I see that this should have a good outperformance of Bitcoin, especially into the next bull market, especially into the next year. And ultimately, I'm looking at, even if you look at a first target of just breaking through to these areas, looking at 150% up. It's not like we need to go to all-time highs versus Bitcoin here. And I love seeing the Bitcoin charts again because the first three years I was here,

I literally only looked at Bitcoin charts. Never looked at the USD chart of an altcoin. No, it's very true. And the day you stop worrying about the dollars, the day you start making shit tons of it, this is just the truth of it. It's that you got to remove it from your brain and ultimately focus on what you're trying to build here. And then I take that and I'm like, okay, I look at that and I start to look at how

this is to the USDT. And it's the same thing. You're sitting down on those lows, about 96 to 97% down from those areas. But what I want you to just pay attention to over here is we are approaching and I'm tracking this trend. One thing you're going to love very much about crypto is you don't have to be a predictor in order to be a TH artist. You just got to learn how to track momentum and when the momentum changes. And what you can see here on Solana is we've been trailing down in this down angle for a while now, but we are getting very near an approach of a very important daily 200 moving average and this trend line over here. And for me, it's, I'm accumulating as much as I can within this trend. By the time the trend happens, automatically you start getting volume.

Don't ask me why a trend line is powerful about when you break that, you start to get volume, but it's when you start to get volume. And when you start to get volume after this, we have this very important area that we lost due to FTX. And that's what I think that Solana is only going to really start coming back to life once it gets past the past. It's basically like an ex-girlfriend that is still crying here and still taking the pain at the moment. So for me, I'm trying to accumulate as much as I can in the bottom range, which is basically between the $10 and the $17 market we have right now

before we had this trend. I just want people to know that you just said you're totally fine if it drops 70-ish percent, you're still buying because that's how you have to view these altcoins in my view as well. I'm starting to buy small positions knowing I could still be buying 50% lower from here. Exactly. Exactly. Exactly. It's a big thing, guys. And I've always prepped for both. For me, it's a, I see here, if this trend had to break in three weeks, I have three weeks to slowly dollar cost. And that's the big thing. Dollar costing in, if it does go slightly cheaper, amazing. But ultimately I want to be in, but where I really want to be in is where we can

finally start turning the $30 back into support. So I'm using this area to accumulate and I'm using this area to start to make our way up to $30 to start tightening up. Because if I look at this RSI, it's very simple to actually trade for a higher timeframe trader. If you can just trade the weekly, you guys will kill it. The problem is we're trying to zoom in all the time and trying to get the exact snipes and that's where it catches you. But if you just follow three, four indicators on the weekly, you're trading once or twice a year, it starts to get a lot easier. So what you want to see, let me paint this picture for you if you don't mind, brother,

just to show a lot of education of where we're at now. You look at the simple chart now and you see the RSI is at the bottom, which means I'm getting ready. So I can start dupping my toes, put 10%, 20%, start building up. When this trend line breaks and I get a weekly close outside, I want to be in on my position. Therefore, what will happen is the RSI will start to make its way to the upside. If price goes up and we get to $30 and my RSI is tapped out at the top, I'm out. That's it. I'm out. I'm taking my stuff. Amazing. Or secondly, what happens is now RSI starts to make its way slightly

up and we start to make price up and price breaks and RSI is still on its way up. Now you're into the next target. Now you're into the next, you take the next and you pop up over there. Main thing is guys, you've had a coin that got completely destroyed. People are saying nothing right now saying it can go to zero. And again, you've got to take the emotions in that this coin's ready emotionally to be buying. Now you just want to match it on the charts and match it on the point of where you want to. And the biggest thing that I can say, the biggest advice that I would say, not financial advice, but biggest advice that I would say is you want to always get in before the volume comes in. When the volume comes in, it's going to play with your emotions so much and it's going to try to get you to FOMO

and it brings another part and greediness inside of you. I tend to stick away from that and get it while it's still there. While it's still there, still tracking, being smart with it, and then ultimately getting through from there. So Solana is one of the big picks for me, brother. I think you have this,

you've got Cardano looking like it's in the same place. Matic, I still think is overvalued. I don't think chart-wise you have this, you got Cardano looking like it's in the same place. Matic, I still think is overvalued. I don't think chart-wise you have something. One of my biggest positions, but I agree. I love it, I love it, but I still think it's not like what it was supposed to go and made it. I literally, like, I was on a stream with

Cheds, like, I don't know, two weeks, couple weeks ago, and I drew this very casually. I was like, yeah, Matic's going way down. I didn't think it would go this far down, by the way, but I mean, that 94 cents is a very, very, very clear resistance and it was bear flagging right into it. I mean, I take it. And it's scary the next support on Matic. And I'll actually bring it up here for a second. So that's the thing. I think this next bull market,

it is going to be quite tricky. I don't think it's going to run as the last where everything just goes absolutely crazy. So this is clearly what we had over here. We had on the weekly that we lost that trend. The day we lost that trend, we started to obviously bring to the downside. Definitely have a lower low there. The thing that worries me, though, is we have one more support that's down here. And I actually got another chart quickly uh that i'll bring up yeah please um yeah this little support over here

which is still showing another 40 possibly to the downside and then you have that and that's the crazy thing is like what's going on here so for me i've just started to not right now i still think matic will have a little bit of recovery to the upside on the shorter timeframes. But when it does get back to these previous supports, which are now resistance, I'm just going to slightly be risking at the moment until I'm a little bit more happy with it. Because on the chart wise,

it's just there's a little bit too much volume to the downside at the moment. And I think the next big one that I'd love to speak to you about is this BNB. Wait, this is a big one. I'm really to speak to you about is this BMB. This is a, this is a big, I'm really curious to see where you're at on this one, then.

So this, I'm really curious. I, that's one of the best buys right now. I still think people think I'm nuts. Okay, good. It is.

It is the same thing. Yeah. Yeah, it is. It just comes down to, you need to understand one thing. This is extreme uncomfortability. And the reason why it's extreme uncomfortability is it looked very similar to the FTT chart.

Remember when FTT had the support of 22? Yeah, Mr. Ellis went on Twitter and was like, well, buy all the FTA. But what happened after that? We had CZ tweeting that they were selling all their FTT at support. Exactly. But what you did have on that chart was you had something like this, where you had this tremendously large gap with no support on the one side. And I remember that with FTT.

It's like, this thing has to, otherwise something crazy is going to happen. And then I looked at those charts. I'm like, okay, this is either the best buy right now. I don't think your growth is crazy, but I do think it's a little bit more on the safer side, conservative side when it comes. But ultimately we had this thing, this is where I got a bit scared. I was like, finance, everything in the US, everything was CZ right now. And I'm like, whoa, would this ever be a crash? Would this ever be something within Binance? And I think that was the big thing

because after this area over here, your supports are back at 40 bucks. And I'm like, whoa. Now I think we're going to 40 bucks. Neither do I, neither do I. But one thing I do want to say is this is no, there's no better time when you have something on the brink of being something crazy right now.

Because your risk is so well defined. He's not even saying it's going to go up. He's saying you don't need to lose a lot if it doesn't. Exactly. Remember, you've got to focus on your loss. Once you've managed your risk, then you worry about the reward. It's not about that. It comes down to exactly, I can take this trade. I know where to protect myself. And I know when clearly to make a decision if it goes against me or if it goes with me. And that's the big thing when it comes to this. So risk to reward, this is probably one of the best areas that you could be loading up with protecting yourself right below here because you know that there's a huge gap below that. But it is interesting. It is interesting

how near they came for Binance and they came for that. And now it's at an uncomfortable level. And I think that uncomfortability, what did that, I actually watched a documentary. You got to learn to be comfortable with being uncomfortable. And that's one of the biggest things you will learn within your career is exactly that and focusing on that. So that's it there on BNB for me. And that's it, brother. I think a big one for me, last one over here is obviously the total market cap. So what you have right now is you got Bitcoin already at this area here. brother i think a big one for me last one over here is obviously the total market cap so what

you have right now is you got bitcoin already at this area here and what it's basically showing here is a very similar to the dominance remember i do think dominance is a trap but i do like tracking it to see the story that's being told right now and even though the total market cap is showing that where it bounced was still healthy bull market vibes right or bullish vibes and you can literally just use this indicator right now just put in the 200 daily and any closes below then you start looking until that guys all of this is still possible all these levels as long as we hold something very simple don't allow yourself to to get your opinion to change your mind but what i'm trying to say here is it's still showing a little bit of a gap until we get to the major resistance

where the total market will break out. So it's just confirming that don't be surprised that Bitcoin's going on a little rampage right now, but know what comes next. Know that you have Big Daddy ETH sitting there next. Know that you have a lot of these. It's all going to run. It's all going to run.

And they're sitting with these huge gaps, all of them. And remember, it takes volume to get them to break resistance. Once you're through resistance, the natural flow of FOMO and retail take over after that. And you don't need anything crazy after that. Listen, man, I know we all got to go, but can you tell us about Sniper School? Of course, of course, of course. So obviously, I had a journey of being a carpenter three years ago, then learning how to trade, surviving a little bit, starting a show. It's been incredible.

And what we decided to do was obviously start the school. We have made the school free. You just got to open up an exchange account, but everything is below. You'll see it below. But guys, I created a school on my story. Just everything that I learned. I wasn't a genius. I'm actually a dropout of two colleges.

Like, you know, I was never a brilliant smart guy. Exactly. But what I did tend to do was I just tend to simplify this thing for me. I was extremely addicted to leverage your trading and it wiped my ass for so long. But what it just taught me was I don't have to be this genius and just find something that's simple. And I decided to put this all within a course for you guys of just everything that helped me on my journey. My mom's now a full-time trader. She literally made $30,000. My mom made $30,000 last week. And it's just crazy to see how my mom also stayed in Johannesburg, the city that I was from.

And I moved to Cape Town when I met Ron. She's right next to me now. She's three minutes away from me now. My brother's here and my whole family's here. They're all falling part of it. And it's just achievable for all of you guys. So you can go below, you can come join. I just feel that if you're going to get into this bull market, don't think that a bull market is easy. Don't think it because yes, it's going up. But I remember when I joined from $10,000 to $40,000, I never made money because I was trying to short everything.

And I thought I was better than the markets. And I never had the basic understanding. So for me, it's just there to humble you again to say, what do you really want from this bull market? Don't ever ask me, when should I TP? You should already make that decision now while the market's down and you're broke. Like that's just the truth of it. Make that decision.

Tell the closest people around you that decision. Because you're going to become a prodding animal when you think it's going to go up another 500%. And you're going to be saying, no, get the Lamborghini, get the yachts. You know what I mean? I think it's just as hard in a bull market. I think it's literally just as hard in a bull market because you see the things you're not holding start popping off and you start rotating into tops over and over again and just lose all your money. And then it dubs by the dup, and then it dubs by the dup, and then you go you know, end up buying a dup for two years.

Yeah. Yeah, thank you my brother. Dude, thank you so much. Dude, I understand why thousands of people tune into you every single day and are subscribed. You really make this so much more simple. You're a great educator. Guys, I really recommend. Check out Sheldon. Bro, and I'm proud of you brother. You've come so far. I've seen really recommend. Check out Sheldon. Bro, and I'm proud of you,

brother. You've come so far. I've seen you from then. I see you now. All the hard work you're putting in Twitter spaces, all the love you're putting out there. Respect, my brother. Respect. Thank you so much. Thank you so much, man. Peace. See you soon. I hope you'll come back. I'm here. I'm here. It's good. Perfect.

Alright, everybody. We do have Twitter spaces in about 10 minutes. My gosh, by the way, guys, I'm looking at the comments. You's good. Perfect. All right, everybody, we do have Twitter spaces in about 10 minutes. Uh, my gosh, by the way, guys, I'm looking at the comments. You guys are absolutely hilarious. This guy,

I guess T unsubscribed, which is fine. Low T, but you guys, T is no more T bye-bye T time. I didn't even, I missed all this T off. Looks like we iced.

Oh, we're good. Poor T must've bought those at 70 cents uh there was another one down here that was killing me but now I can't see it oh T went to look for war letters man you guys are hilarious you guys are absolutely hilarious by the way

I didn't even mention but you know that you can trade most of this stuff that we were talking about at OKX and you should uh and I'm going next week to Silverstone Sheldon were'm going next week to Silverstone. Oh, Sheldon, were you going to go to Silverstone? Or is Ran going? You're going?

Wait, you're going? Oh, we're going to go, bro. Let's go. Let's go with OKX to Silverstone. All right, I'll let you go. Bye. Yeah, we're going to be at Silverstone next week for Formula 1. I thought I heard that he was going.

That's fucking awesome. I can't wait, guys. It's going to be in Silverstone next week for Formula One. I thought I heard that he was going. That's fucking awesome. I can't wait, guys. It's going to be absolutely epic. See you on Twitter Spaces in, I don't know, about 10 minutes because I need to go to the bathroom or something. I'll see you guys in a few. Peace. Thank you, Sheldon.

Thank you, Sandy. Bye. Let's go.