The Wolf Of All Streets - Can You REALLY Hack Bitcoin… And Win 1 BTC ($84,000)?
Episode Date: April 17, 2025►► Sponsored by Aptos, check it out here: https://aptosfoundation.org/ Edan Yago, core contributor to Bitcoin OS, joins me today to discuss if it is even possible to hack the Bitcoin blockchain! ... Edan Yago: https://x.com/EdanYago In the second part of the show, Dan from The Chart Guys will share his market analysis and some trades. The Chart Guys: https://www.youtube.com/@ChartGuys ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEKDAY! 👉https://thewolfden.substack.com/ ►► Arch Public Unleash algorithmic trading. Discover how algorithms used by hedge-funds are now accessible to traders looking for unparalleled insights and opportunities! 👉https://archpublic.com/ ►►TRADING ALPHA READY TO TRADE LIKE THE PROS? THE BEST TRADERS IN CRYPTO ARE RELYING ON THESE INDICATORS TO MAKE TRADES. Use code '10OFF' for a 10% discount. 👉https://tradingalpha.io/?via=scottmelker Follow Scott Melker: Twitter: https://x.com/scottmelker Web: https://www.thewolfofallstreets.com/ Spotify: https://spoti.fi/30N5FDe Apple podcast: https://apple.co/3FASB2c #Bitcoin #Crypto #Investments 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. 🎙️ New to streaming or looking to level up? Check out StreamYard and get $10 discount! 😍 https://streamyard.com/pal/d/6319316098351104
Transcript
Discussion (0)
Can Bitcoin really be hacked using quantum computing and is trying worth one Bitcoin?
We're going to discuss that and everything else that's happening in crypto and the markets
and of course macro today with Yago and Dan from ChartGuys.
You guys ready?
I am.
Let's go. What is up everybody?
I'm Scott Melker, also known as the Wolf of all streets.
Before we get started, please subscribe to the channel, hit the like button, do it.
Subscribe, hit the like button. You're all subscribed and you're gonna hit the like button
if you were gonna do it
and you're actually not gonna do it
because I told you to.
We know that.
Because you're free thinking human beings
who are Bitcoiners and libertarians
and you're not gonna be goaded by some dude's face on YouTube
to push a stupid button.
To that end, Yago, I would hit the like button for you.
I would.
Well, thank you very much. If you hit enough times, maybe something nice will happen.
So you know that I'm sick of talking so much about tariffs and Trump and all these things
when I start doing titles that are can you really hack Bitcoin and win what Bitcoin because
this is the dumbest story I've read in a really long
time.
So first, not dumb, the idea of hacking Bitcoin, but here you have it.
Quantum computing group offers one Bitcoin to whoever breaks Bitcoin's cryptographic
key.
Last I checked, if you were able to break Bitcoin's cryptographic key, you could have
all of it.
Like why would you do this to win one Bitcoin?
It seems to me like they're offering a hundred dollar prize
to ever manages to smuggle 10 tons of meth into the United
States. Good job.
Hey, if you guys can crack this bank vault and guaranteed
not get caught, you can have 20 bucks.
Yeah. Well, I think there's an interesting story underlying this bank vault and guaranteed not get caught, you can have 20 bucks.
Well, I think there's an interesting story underlying this, which is that, you know, we're seeing amazing progress on all kinds of things that were science fiction not that long
ago, right? So self-driving cars, spaceships, robots, AI. And one of the other big things is quantum computing.
Now quantum computing was one of those things, like AI,
like self-driving cars, that everyone was promising
since the 50s and were never getting close.
And now they seem to be getting close with all of the others.
Is that happening with quantum?
That's the big question.
Because if you actually got working quantum computers with today, they have like working quantum computers with like three
qubits, three logical qubits, right? So a qubit is like a logical gate. If you could get it to a
few hundred, then you can crack basically all of cryptography.
And with it, you could crack Bitcoin. Now we have since developed quantum secure cryptography,
but in order to integrate that into Bitcoin, you would need a, a hard fork,
not just a fork, a hard fork of Bitcoin.
And there's this really, really big question of what do you do with all of the BTC
that is in old addresses and is never going to move? It becomes a really, really tough question
because you either basically are destroying those coins or you need to do something with those coins.
And so one of the biggest sort of long tail risks right there's
no one knows if this is going to happen anytime soon but there is potential risk if if quantum
became real it would be a real problem for Bitcoin.
Yeah, it would be a problem also for the nuclear codes and the banking system and effectively
anything else that's cryptographically protected anywhere on the internet, correct?
Yes, yes, but it's easier to upgrade other systems than it is to upgrade Bitcoin. That is sort of
like what makes Bitcoin so awesome is that it's permaware, no one can manipulate it. No one can change it. It's like a law of nature
but the but what happens with sort of like
nature itself changes and actually
Quantum computing is kind of like nature itself changing because what makes quantum computing
Powerful and useful is really really science fiction, right? It's basically in
Today when you run a piece of software, you run it on your computer.
What quantum, what makes quantum computing so powerful
is it basically is doing computing in the quantum realm.
And, you know, the best physical theories today
sort of describe that as if you're taking quantum computing power,
you're taking computing power from parallel universes and sucking it into yours.
So that's like the very laws or our understanding of nature changing and then things get really,
really weird. And so with Bitcoin specifically, you know, if I have secrets
in documents or on computer systems today, I can upgrade them myself, but no one can
just go and upgrade Bitcoin. One of the things that is happening is that the US government
and other governments are already starting to mandate that everything needs to be quantum secure in
the near future and the reason is because if you lock up secrets, important
data, military secrets, whatever, in cryptography that is secure today but
quantum, but you know 10 years from from now, or 15 years from now, we get quantum computing.
And that kind of cryptography, those messages can basically be stored, right? If someone intercepts
those messages today, they can store them in a form of cryptography, in a form of encryption,
that 15 years from now, or 10 years, or eight years, or three years from now can get cracked.
So if China and Russia are intercepting US messages today, then three years from now can get get correct. So if China and Russia are intercepting us messages today, then three years from
now, if they get quantum, they can crack them in three years.
And so everyone is rushing to become quantum secure now. So
that even things which are intercepted now won't be get
correct in the future.
So this seems like it actually is a legitimate problem to some
degree. Oh, it's definitely one of the one a hard fork Bitcoin.
Well, look, I mean, the thing is we already do have quantum computing, right? This is not just a theoretical possibility.
Like as weird as quantum computing is, it exists.
The thing is that it exists so inefficiently and the quantum computers that we've built
are so unstable that you can't really do anything
with them except for prove that theoretically you can do quantum computing.
But there's billions of dollars going into this.
There's a lot of eyes on it and we are living in a more and more sci-fi world.
So yes, it is a real problem.
Okay. real problem. Okay, so do you think that we end up hard forking Bitcoin eventually to
secure it against something like this? Because obviously, you know, I see it and I've kind
of laughed it off. But look, there are some proposals that I've seen floating around which might allow quantum security to be delivered to Bitcoin without
a hard fork. I haven't delved deeply enough into those proposals to properly understand
them. To me, that seems also like science fiction. I would say that the joke about, you know, quantum computing sort of like fusion is it's always 10 years away, right? So it's 10 years away, 10 years ago, 10 years away, 20 years ago, and it's still 10 years away now.
is a combination of these technologies playing in weird ways. So we're starting to see all of the big AI research labs investing most of their research effort or a big chunk of the research effort into
building internal models, which allow them to build better AI, right, which aren't even released to us.
which aren't even released to us. So if you see a world in which sort of AI,
sort of research powered AI becomes much more powerful, that could potentially accelerate a whole bunch of other things, including quantum. And at the same time, Microsoft and a bunch of
other companies have been trying to at least get good press, but
possibly there's something behind that in claiming that they're getting closer and closer
to quantum.
My overall sense is that there's nothing to panic about.
There's no very, very near term risk, but longer term, this is almost certainly something
that we're going to have to deal with.
Do you have an idea of timeline?
I know you joke obviously like nuclear fission is 10 years away,
but I mean, is this a five-year problem or a 50-year problem?
Within Bitcoin circles,
it's starting to become more,
I would say it's maybe one of
the top three topics that people are talking about.
That's pretty okay. And as a builder on Bitcoin, do you have to consider this at all when obviously
allow it, you know, building this toolkit for DeFi and everything to come to Bitcoin,
you have to naturally assume that anything that's layer two or built on it becomes naturally
slightly less secure than the base layer.
So there's even greater concerns, I would imagine.
Yes and no.
So layer twos could potentially be much more secure
because they can be built with quantum secure systems.
However, this is not just a Bitcoin problem.
This is an Ethereum problem in particular
and a crypto problem in general.
So today, everyone's talking about ZK bridging
and ZK roll-ups and ZK this and ZK that.
Most of the ZK that we're using are
snark proofs, a kind of cryptography called snarks.
Snarks are not quantum secure.
The alternative to snarks is mostly
starks, which are much bigger and much more complicated.
So this becomes a huge problem very, very quickly. Like if it looks like we're
getting close to quantum, everything we know about crypto is insecure. Like this entire
multi-trillion dollar industry has to very, very rapidly change everything. And you could very
easily end up, you know, I don't know how many people remember the Millennium Bug Panic, right, where computers built in the
60s, only had so many bits to represent dates. And so on the
year 2000, there was going to be a bit flip, where they would
all think they're back in 1900, right. And then that would have
screwed up banking, it would have basically, people thought
that like the electric grid
and it was gonna fail and planes were gonna fall
out of the sky.
And so for the last few years,
leading up to the millennium,
there were thousands, tens of thousands of developers
who had been brought out of retirement
because they knew the old languages
and were fixing all of these systems using bigger, the greater memory capacity to avoid the problem.
And in the end, you know, the year flipped over
and nothing happened.
But that's what we're going to see.
We're going to see panic of that level.
There's going to be, you know, old crusty solidity developers
brought out of retirement for one last gig.
Yeah.
I'm going to just go ahead and put my blinders on and say not
a problem because it just generally conflicts with my
worldview and I don't want to hear it.
You know, the coins perfect and nothing could possibly happen.
But yeah, I think we have much bigger problems, but it is
interesting that so many other industries and platforms would
be able to pivot much easier to protect themselves from
this. So definitely worth keeping on the radar. I just still think a one Bitcoin reward is laughable.
That's the funniest part to me. Oh, yeah. That's just a joke with which to start the conversation.
You can have all the money in the world. Here's a Bitcoin for taking. I can't even imagine how
much you would spend to try to do this, but it would be a lot more
than one Bitcoin.
Yeah.
So listen, now we are gonna move on
to a little bit more of what's happening.
And it's another narrative that we have
and it's obviously become very, very invoked
to talk about Bitcoin versus gold.
So much so that you have JP Morgan talking
about Bitcoin versus gold.
JP Morgan says Bitcoin has failed to benefit
from safe haven flows back in gold. Now this is somewhat factual from their perspective,
because what they're talking about is money flowing into gold ETFs and out of Bitcoin ETFs,
which has happened. I mean, you can't argue about it. We can argue about why those things might be
happening. The carry trade being specifically one of them on Bitcoin, but they're seeing that
basically it's flowing out of Bitcoin and into gold ETFs
And here of course crypto daybook America's Bitcoin loses alert to gold as economic concerns rise
And if we're all being intellectually honest, here's the Bitcoin to gold ratio and since it topped back in December
It has been nothing but down. So gold has outperformed from a price perspective
so We have this digital gold narrative.
We've talked about it a million times.
I don't personally like it
because I think Bitcoin is Bitcoin.
Sometimes it'll trade like gold.
Sometimes it'll trade like a tech stock,
but the price doesn't actually dictate the narrative
in my perspective, but I would love yours.
Well, look, I think the vast majority of people who are making decisions around hedging global
macroeconomic events, you know, these are top level decisions for sovereign wealth funds,
hedge funds, large institutions,
pensions. It would be very, very strange if they suddenly chose Bitcoin. They've been choosing gold
for their entire career and the people who train them have been choosing gold and the people who train them. I think what's surprising
is not that Bitcoin isn't yet considered a safe haven on par with gold, but that Bitcoin is
considered a safe haven at all. And if you look at how Bitcoin has traded in comparison to other
risk assets in comparison to the NASDAQ, for example it has held up very very well over the last few weeks of significant macro uncertainty. So my sense is that
Bitcoin continues to be an emerging reserve asset rather than the current
reserve asset and judging it. And so newspapers, they write headlines and slogans like digital gold.
Bitcoin is not yet digital gold in that it hasn't replaced gold.
People don't treat it in the same way as gold.
And like we were talking a moment ago, there are risks related to Bitcoin
that you don't have with gold.
There is no way that you can fork gold.
Gold doesn't have a quantum problem.
It's a fundamental element on the elemental, on the periodic.
Gold ETFs do, though, but yeah.
Yeah, so gold ETFs do.
But Bitcoin obviously has very, very significant advantages in terms of your ability to utilize it in a increasingly
digital world. So I don't think that there was ever much risk of Bitcoin completely
replacing gold or there was much chance of Bitcoin suddenly becoming on par with gold
like overnight. But what we are seeing is that over time Bitcoin has continued to appreciate
faster than gold because it's got a much bigger new market that it's created. It has continued to have relatively low correlation
and sort of right now a anti-correlation, a hedged correlation to risk assets. And we
are seeing governments more and more talking about adoption. So as an emerging reserve
asset, obviously there is nothing like Bitcoin.
Yeah.
I agree.
I think it will just continue to evolve
and behave more like gold perhaps.
But like I said, from a price perspective,
to me Bitcoin is just Bitcoin and that's the beauty of it.
Like I don't want it to be correlated to gold price
and I don't want it to be correlated to the NASDAQ price.
I want it to float on its own and be an uncorrelated asset,
which improves portfolios for investors
and also improves the appeal of it to your everyday person
who wants to just hold Bitcoin and be their own bank.
Yeah.
I think it's also, you know,
progress is made one funeral at a time.
Yeah. progress is made one funeral at a time. Yes.
There's a lot of people who are not going to change their ways. The wealthiest people and sort of the most senior people in the financial,
you know, you're talking about Powell.
Powell did not grow up using Bitcoin.
But, you know, I've been exposed to Bitcoin since I was pretty young. So if you, people
younger than us have basically grown up like my kids growing up in a world where...
Yeah, it's going to be the most natural.
He doesn't own any gold, he owns Bitcoin. So I think there's a generational switch that
happens here. And that generational switch is happening pretty quickly because it's the boomer to millennial switch
which is happening as we speak, right?
Boomers are retiring in droves right now
and that process will complete over the next 10 years.
So the next topic we have to talk about is that
this guy, Mr. Jerome Powell, spoke yesterday.
A lot of people looking for clues
as to what will happen in the market
based on what way he sneezes or blinks
or if his hair shakes differently when he talks
because that's what markets apparently move on.
But first we did get more confirmation that ChokePoint 2.0
Operation ChokePoint 2.0 is likely over.
He's saying potential loosening of crypto rules for banks. Basically, this
echoes everything else we're seeing from every regulator in
and their approach to the industry, right? Yes, he sees
CFTC, OCC FDIC all getting on board with allowing crypto
activity in the United States. Okay, that's one that's the
honorable mention. But what people really want to know is if
he's going to cut rates, whether that even matters or not.
Well, he's being really stubborn.
He basically says that tariffs are going to be inflationary, that he can't cut anytime
soon.
They're going to wait for the data.
And then you have on the flip side, Trump says palace termination.
If that can't happen fast enough already interviewing new candidates, it's getting pretty ugly, right?
And I think that's no surprise,
but you do have the ECB already cutting.
So we kind of have these different narratives
all around the world on what's gonna happen with rate cuts.
So it's worth discussing whether that even matters
for prices.
I think liquidity matters a lot more.
I don't think the rate cuts themselves
are going to do much at this point. I think liquidity matters a lot more. I don't think the rate cuts themselves are going
to do much at this point. I think we're fiscal driven. It's going to matter more what the Treasury does.
Yeah, I think that's probably true. I think that there is nothing in the world which is going to
stop increased liquidity. Even if the, you know, people think that if you cut rates, that increases liquidity.
But there's so much government debt out there.
There's $36 trillion in US government debt alone, US federal government debt alone,
which is paying increasing
rates, right? Just the interest on that is in the trillions, which means the trillions have to come
from somewhere and they're not coming from taxes because there's a growing deficit which is not
covered by taxes and so those trillions have to be printed. And so actually, if you reduce rates, interest
payments by the US government would potentially decrease. And so you would have less new money
flowing in from that direction. And so the US government and Fed are tied in this very
weird situation where if they increase rates, that increases liquidity.
If they decrease rates, that increases liquidity.
And so there's this double bind right now.
My sense is that what we're seeing with tariffs, with power is this spasmodic sort of like the epileptic attack
at the end of the process
before they have to go to yield curve control.
So yield curve control is basically a nice way of saying,
we're going to keep,
we're going to make ourselves less sensitive
to interest rates by basically accepting inflation
and allowing inflation to reduce the cost of borrowing.
So if you borrow today at 6% for the next five years, but the dollar devalues by 12% by the next five years, then you actually
pay back less than what you borrowed.
And I think that kind of inflation is inevitable.
The 2% number is just an arbitrary number.
The Fed and the ECB and basically all global central banks
have a 2% target for inflation that was invented
by the central bank of the mighty nation of New Zealand
30 years ago, just as a rule of thumb,
there's nothing sacred about it.
There's no even theoretical basis for it.
And so I think at some point we're gonna see capitulation
because there's really nothing holding it up.
Capitulation means that we'll go from standardized 2% So I think at some point we're going to see capitulation because there's really nothing holding it up.
Capitulation means that we'll go from standardized 2% inflation to 3% or 4%.
Yeah.
They're going to put the hell out of money no matter what happens.
There's just no other way.
Yeah.
Everyone.
I mean, it is the system. When debt gets high enough, then yes,
then it's basically, there's no other way out.
Yeah.
Yago man, thank you as always for joining,
especially I know you got a baby running around,
I know how those days are,
you never know when you're gonna sleep,
but it's not gonna be at 9 a.m.
Eastern Standard Time on Thursdays.
That's right. Guys, you have to be awake be at 9 a.m. Eastern Standard Time on Thursdays. That's right.
Be awake for at least half an hour.
Of course. Well, check out guys give him a follow on Axe and of course check out Bitcoin OS. Could you give the 30-second update by the way on Bitcoin OS status progress where you're at?
Yeah, we've got we're working really really hard right now not sleeping for other reasons
We expect to be launching something pretty cool and exciting over the next few weeks. So
Okay, I think we'll we'll have the Thursday updates then perfect. Thank you, man. All right, cool. Cheers
All right guys before we head on to Dan really quickly obviously
App toss am I pointing at it?
I did it.
Oh, look, I did a thing and then my camera freaked out.
I need to like figure out how to make my camera not do that when I do hand signals.
Thought I turned them off.
I'm just bad at this.
I'm such a boomer at cameras and technology and stuff.
I wonder if I can make that happen again.
Anyways, let's talk really quickly about the fastest growing ecosystem that there is on
planet Earth in crypto. And that's actually true. Anyways, let's talk really quickly about the fastest growing ecosystem that there is on
planet Earth in crypto.
And that's actually true.
You could check out this thread from Aptos, which was just April 13th, what happened across
the Aptos ecosystem just this week, buckle up because you're in for a long ride, especially
with the speed at which money moves on Aptos.
I mean, it's literally crazy how many things have launched Revive Finance, Play3 AI, I don't even know how to pronounce that one.
Spook Labs, all of these, literally, look at the thread.
This is how many things have happened there in a single week, absolutely astounding.
And then of course, they're leading all L1s in DEX volume growth over the past three months.
Obviously, Solana yesterday was announced that they had done the most volume.
But in terms of sheer growth, Aptos, absolutely the fastest right now.
There's a reason that we're partnering with them.
If you haven't used Aptos, it's absolutely incredible.
They finally solved this.
Can grandma use it?
UXAI really, really simple, extremely fast, extremely cheap.
Check it out.
And now on to Dan.
Good morning, sir. Morning. How to Dan. Good morning, sir.
Morning. How are you doing?
I'm good, man. You know, we were just talking about that Bitcoin gold ratio thing.
And yeah, gold has absolutely been flying.
But I have to say, I'm still pretty impressed that Bitcoin is sitting in the 84,000s with all this insanity happening around it.
Yeah. I mean, as Iago mentioned, Bitcoin has had relative strength to the NASDAQ over, you know, we just hit two and a half month highs pretty much.
Right now on Bitcoin, this is the four hour time frame and I'm just watching our channel that we're chopping around sideways.
83,000 is a key support and essentially, you know, my mindset is if 83,000 holds, this is a daily bull flag getting ready for another leg up.
So as long as 83 is holding bulls are just fine overall. And
that's been impressive because again, you look at, you know, the NASDAQ yesterday, I
had a pretty solid drop. There was, you know, as you mentioned, the Powell stuff and, you
know, he said something like the feds not going to intervene in markets or something
and everybody sells, but Bitcoin held on pretty well. And I'm also noting relative strength
and MSTR. This is the
monthly chart. MSTR has relative strength to Bitcoin. Bitcoin has relative strength to the
NASDAQ. But watching for MSTR to set the monthly higher low, of course, watching for Bitcoin to
set the monthly higher low. And as you mentioned, the relationship with gold, I actually made this
tweet yesterday, I believe, but this is the two week timeframes with gold on the left
and Bitcoin on the right.
And I circled the same periods of time.
And let me just fix that where you've got, you know, brief gold consolidation, Bitcoin
breakout Bitcoin, pretty significant consolidation, gold breakout to all time highs, gold sideways
consolidation Bitcoin gets his leg up, Bitcoin
consolidation, gold.
So there's a very clear, pretty substantial inverse relationship over the last three years
between gold and Bitcoin.
That's going to change eventually.
Is it clear which one's following the other?
I mean, it kind of looks like Bitcoin follows gold.
I guess it's all either way if it's back and forth, right?
Yeah, it's chicken egg leapfrog kind of deal.
Either way, you would expect that if gold finally chills here
and consolidates, that Bitcoin would go up.
That's the expectation, just because it
aligns a number of things.
Again, a monthly higher low is the most likely scenario
for me on Bitcoin.
Gold's very overextended.
Yes, it's blue sky breakout.
It can stay overextended for a long period of time.
But that tells me start watching for the shift again.
And these inverse relationships, direct correlations, they come and go. But they are me start watching for the shift again. And you know, these inverse relationships,
direct correlations, they come and go, but they are useful while they're there. And something being
around for three years is definitely long enough to be useful. So I'm definitely keeping an eye out
for gold. You know, we're reaching consensus on oftentimes consensus is when you see macro
pivots, just in the sense that, you know, everybody is saying, oh, well, gold's a good idea because there's Chinese tariff stuff.
Okay, well, in a couple of weeks from now,
who's still yet to act on that narrative
and grab their gold position?
Everybody's already got it.
So maybe we get some monthly consolidation in gold
and Bitcoin makes its move back up, you know,
95, 100,000, try to test the recent high.
That's definitely something
that is a top watch for me into May.
I thought that gold might chill like between 3000 and 3100 just on the psychological level,
but I didn't expect that Trump would go full, you know, ledge hammer. So I think that obviously
changed my opinion.
I'm the kind of person, I just looked up a tweet from 2019 where I was saying, you know,
you want to own some of both to diversify.
Own some gold, own some Bitcoin. And then I did the math and Bitcoin 10X gold during that period of time.
Yeah. So I still have the same mindset. I've got some gold, I've got some Bitcoin. I won't sell
either of those positions for a very long time, decades plus. But everything has its purpose. And
there are periods where one will outperform the other.
And that's just the way the market goes.
So just to touch quickly on your conversation with Iago about quantum,
just from my perspective, that's the one thing that keeps me going really aggressive into Bitcoin,
where, you know, again, I've got my long-term no touch position, but for me,
I don't want to get back the gains that crypto has given me since 2017.
And that's the one thing that I know that I'm not smart enough to understand and accurately
assess the risks over.
And I've got a friend, we made it in 2017 together in crypto, leveling up our net worth,
and he is still all in Bitcoin.
And I just can't have my brain work that way where I would risk giving back all of those gains
on a black swan event.
So that's just my mindset, definitely still want exposure,
but it is this looming thing
that keeps me from going overly aggressive.
And just something to be aware of for people
that obviously have a significant portion
of their net worth into Bitcoin.
Yeah, and Q's actually just opened.
I mean, the market just opened.
I checked QQQ down.
I mean, tech's been down obviously and Bitcoin, I mean, moved 300 bucks or so,
but still holding pretty strong in the mid-84,000.
So yeah, I'm watching the Nasdaq into next week.
This is the 12-hour time frame and it's essentially just, you know, a tightening range here. I'm watching to see if we can form another higher low and tighten up Monday, Tuesday,
but the burden's on bulls here in the short term and we would need to see a four hour trend change
on the Nasdaq and how that relates to Bitcoin's four hour. It's essentially the same thing, you
know, we're tightening up on the four hour. That's going to break into the weekend. Keep in mind,
markets are closed tomorrow for Good Friday.
So volume will likely dwindle on crypto a good bit, but crypto will still be where the action
is over the weekend.
So definitely pay close attention.
What else you're looking at?
I mean, in context of all this nonsense, I mean, are you kind of still leaning towards
cash and sidelines while you wait for it all to pan out.
Yeah, I'm grabbing some dividend positions.
I'm watching Walmart for a monthly higher low because there's no major red flags on this consolidation after a massive breakout.
You could be looking at Microsoft for a three-month higher low.
It all depends on your time horizon.
I'm actually going to be doing a webinar today at 5 p.m. on our YouTube channel Big picture timeframes three months six month charts. I'll do a little bit of crypto
But you know mostly the indices and things like that
So stop on by if you want to zoom out and look at you know expectations for the rest of the year into 2020
What year we on six 2026?
All right, so that's at you said said 5pm today? 5pm. Check
guys on YouTube.
Guys, follow chart guys on YouTube. You get like 10
minutes at best of Dan here, you can get hours and hours and
hours of Dan. If you go to his YouTube. Is there anything else
you're watching? By the way, I switched that over. But I mean,
I still keep an eye on we mentioned it last week. CRV has
been an altcoin that's been giving us some relative strength, but we did I never like to see a flag confirm with no follow through
This is a bull flag with zero follow through. So whenever that happens, you know, I always watch for the possibility of a rising wedge
Um, so there is still relative strength there, but just you know yesterday was 10 up
While everything else was one to 2% oh boy here we
go and now it's kind of like you know putting some water on the fire so to speak of it but definitely
still a top watch CRV TRX was another one that I was liking because of the it was doing its own
thing it had a nice clear sideways range it wasn't really as tied to bitcoin as all the other alt coins
are so I'll continue monitoring that one as well.
We did get a bull break.
Again, not a ton of follow through, but just some little pockets of alt coin relative strength
when most alt coins look really ugly.
Hard to be interested in any of them right now.
All right, guys, once again, give Dan a run.
I love the comments over here because I was wearing a cash rules everything around me
shirt, which is Wu Tang
They all I guess notice that they're now throwing out Wu Tang lyrics and song names never
And otherwise guys, we will see ya then I next week and I will see you guys for the Friday 5 tomorrow
Thanks, Dan really appreciate it. Yeah See you. Bye.