The Wolf Of All Streets - Massive Crypto Dump: Should You Buy The Dip?

Episode Date: April 2, 2024

I am joined by Dan Gunsberg, Co-Founder & CEO of Hxro, a network of protocols powering derivatives trading and betting on Solana, as we delve into recent developments in the crypto space and discuss actionable insights. In the second part of the show, Andrew Parish and Tillman Holloway from The Arch Public will unveil the outcomes of their AI trading algorithm and evaluate the performance of our initial $10,000 portfolio. Dan Gunsberg: https://twitter.com/hxrobtc Andrew Parish: https://twitter.com/AP_Abacus Tillman Holloway: https://twitter.com/texasol61 Check out The Arch Public: https://thearchpublic.com/ ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEKDAY! 👉https://thewolfden.substack.com/   ►► JOIN SNIPER SCHOOL W/SCOTT MELKER - LEARN LIFE CHANGING KNOWLEDGE! Join Sheldon the Sniper and Scott Melker for Expert Insights & Strategies in Crypto Trading! Starting January 31st!!  👉 https://cryptoschool.cryptobanter.com/sniper-school?source=scottmelker   ►►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  ►►TRADING ALPHA READY TO TRADE LIKE THE PROS? THE BEST TRADERS IN CRYPTO ARE RELYING ON THESE INDICATORS TO MAKE TRADES. USE CODE ‘25OFF’ FOR 25% OFF WHEN VISITING MY LINK.  👉 https://tradingalpha.io/?via=scottmelker ►►NGRAVE This is the coldest hardware wallet in the world and the only one that I personally use. 👉https://www.ngrave.io/?sca_ref=4531319.pgXuTYJlYd  ►►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   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 Bitcoin and crypto correction has continued overnight and into today. Bitcoin currently down another 70% in the last 24 hours and altcoins obviously going down with it. I did a charting stream yesterday afternoon, said, should we buy this dip? My conclusion at the time was probably not yet based on what I was seeing on the charts. Well, now we're down another 7% to 10% on everything. So is this the time or are we in for further correction? I'm going to take a look at the market with one of my favorite guests and friends, Dan Gunsberg from Hero. And of course, at 9.30 AM, we were going to do it at 3.30, but at 9.30 AM, I'm going to bring on the guys from Arch Public. We're going to review the portfolio we've been trading with their algorithmic high

frequency trading bot and dig deeply into how that's performing. We got a lot to talk about today, guys. Let's go. What is up, everybody? I'm Scott Melker, also known as the Wolf of Wall Street. Before we get started, please subscribe to the channel and hit that like button. I'm going to just go ahead and bring on Gunny right now so we don't waste any time. Market's down a bit, right? We got a coin market cap here, 24 seven percent dip on bitcoin it's 65 000

eath down a little more uh the dog coin's been getting just slaughtered right doge as if anyone could have predicted when we were having a meme coin rally that meme coins might dump really hard if we even got a slight correction at some point right yeah this is funny my friend uh texted me this morning the classic like non-crypto friend, Dude, I was I woke up poor, said just another Tuesday. He said, True, I guess I got to go to work. I said, Me too. He said, Are you buying anything today? I said, Since Annex and Depends. So I mean, you know, this is just to be a classic Tuesday dip. But does anything here have you concerned? I mean know long term not nothing at all the longer term charts are up um you know the the blue chips are up we're pullbacks are normal the happening's coming up this is um this feels by playbook right now and by playbook generally means that we're just seeing a ton of liquidations right i mean crypto bulls see 400 million liquidations, Aslana, Dogecoin lead slide in majors. You looked and funding rates got 50% annualized again yesterday, and then we get flushed, right? The only difference this time is we kind of didn't

make a new high before it happened, right? We've been seeing kind of a high, a flush, a higher high, a flush, a higher high. Now we just didn't get higher. I think that, you know, I just think this is standard. You know, historically ahead of the happening, you're going to get some pullbacks. Like this one, definitely not as deep as it's been in the past and maybe a little bit closer to the beginning or to the actual happening. But this does not have me worried i've been through

multiple rallies this is uh we are still very much in up only mode as far as i'm concerned and this is where you're looking for for opportunities to buy oh yeah i mean we went from mid-15s to 74 without more than like any 20 corrections or something something. And this one, even now, I mean, we're down like 12 or 13% from the top and it went maximum 17%. So there's literally nothing to talk about here, I guess. But the question I guess then becomes, is it a buying opportunity and on what timeframes? For me, like I said yesterday, I was looking at charts. I was like, if I'm trading this, I'm not buying yet. As an investor, I'm buying the hell out of every 10, 15, 20% tip of everything if I'm looking to add, right? Because I don't care if it goes to 55 or 65, if I think it's going to 200 or whatever. But as a trader, some of the charts are looking like they're breaking support and maybe this is

going to be a more sustained sideways chop, disgusting through the halving. That's been my base case is that now it might be a few months until we really see huge moves again. Very possible. I mean, these things, although we have historical references, what happens in the past is never indicative of the future. But times like now, too, I also start to look for rotations and try to get a little more pulling from like just what's consensus in the market amongst traders, amongst retail. Like does does do meme coins still have are they still have the same punch in the next up move?

Like, is there an actual rotation to all it's like if there is a rotation into all, it's like one thing that I've been doing lately is kind of looking for the things that maybe have some convexity to them or have historically followed that, that kind of Gartner cycle chart pattern that I think I talk about every single time I'm on this stream with you, but it really is the one that people that, that good swing traders or good traders in crypto look for, where you have, you know, good projects that, you know, that have communities around them that have, you know, that have interesting protocols are doing interesting things that could potentially be part of a next narrative. Those those from a technical

trading standpoint generally tend to be depressed or they go into these big pullbacks and these long accumulation phases. And then what you see a lot of more experienced traders do is try to get ahead of the next wave and you start to pick up positions in those things. And then when you get that curl and that turn,

sometimes the tail wags the know, sometimes, you know, the tail wags the dog. Sometimes price starts to move and then suddenly that tech becomes good and very interesting. Yeah, there's an interesting article I pointed out to you, which maybe is sort of a signal.

Then I want to talk about that rotation actually more. But training volume on South Korean crypto exchange upish crashes 75%. Now, to be honest, this is a super disingenuous article because it's measuring from the all-time high on March 5th, right? So the all-time high was 15 billion on March 5th, now 3.7 billion in 24 hours. So yes, a 75% crash from the high, but I would bet 3.7 billion in 24 hours is much higher than over the last year, right? So, but this does kind of show that we had this euphoric peak, I think,

or maybe it actually shows that we had a euphoric peak in centralized exchange trading activity. And then everything moved to the DEXs where people can like light up a new meme coin a thousand times a day and trade that. I'm thinking of real time, but I bet that's exactly what it is. The darlings have not been the coins that are being traded on SEXs.

That absolutely. And I mean, we, you know, I'm sure you've been talking about it a ton on here, but man, like, you know, especially me coming from the Solana, you know, where I'm kind of very salon ecosystem focused the meme coin mania there something that i i haven't seen um at the level that it was in not not all in good exciting ways i mean obviously it went down some pretty dark ugly pads

but i mean hundreds of hundreds of new meme coins popping up every single day and um you know just it brought in a lot of a lot of uh a lot of traders a lot of capital to the ecosystem uh and you know the question for me is like uh you know like i think historically what happens is when it's kind of like uh new money coming into those and they they find fast profits the though they tend to kind of like new money coming into those and they find fast profits, they tend to kind of round trip it and give it back to every time, right? And they give it back to the smarter money and then the smarter money takes it and goes and puts it into things that maybe are a little bit more productive. It's really interesting for me to see a lot of the justifications around meme coins there's definitely some you know interesting narrative there but but the reality is you know

these things are high flying high volatility they were somewhat like i think a temporary replacement for um you know for kind of high leverage trading and uh the question now is, you know, will traders be able to hold on to some of those profits? And I think most of them historically don't. They end up, like I said, rolling into, you know, kind of smarter money hands. And then that moves into things that, you know, you start to see that are much more sustainable. But that said, there are some meme coin projects that are definitely going to have some staying power. I don't see, I see WIF becoming another doge. Huge.

Bonk is a whole, I mean, there's 600, almost 700,000 token holders of Bonk. Bonk is going to be here to stay for a long time, not going anywhere. And so I think that um uh question is again can we get to in front of those next narratives and capture the opportunities that that exist because there's a lot of them right now like people are looking left and there's a lot of them sitting over there yeah that's why you got to be first to the exits when

someone yells fire in the theater i mean i, I tweeted this yesterday. If memes made you a paper millionaire, then now is likely as good a time as any to make sure you become an actual millionaire. Regardless of what comes next, taking profits is always a good idea. I mean, I see people saying it. We already see the never sell. And like you said, there's so much cope as to like the bag holding of these, even if they're up. People saying, well, I'm in it. I'm a millionaire, but it's going so much higher because this is going to become a real utility project. That's what

bothers me about meme coins. The people who are in the casino and know they're in a casino for a good time, dude, have at it. It's the 90% following them that don't realize they're in a casino. Right, right. Is Foxy or is Costco Hot Dog, is that

going to have staying power? No. But does it capture the hearts and minds of a crowd and capture some velocity? Absolutely. I think the Costco hot dog meme, the Costco hot dog is $1.50. Fucking genius, man. Absolute genius. Hilarious.

I wish I'd created it, although then I'd probably be going to jail at some point or something, but you know, because the United States, but, um, okay. So listen, there's going to be a rotation from garbage to, to meaningful things. And I think that, uh, a lot of this is just the cycle, as you said, and the pivoting of narratives, we got the soul pump from eight bucks to $200, right. Or over $200, people were going to look for more things to do within Sol than just trade Sol. And you get this like trickle down, but you're building in this space, obviously, you've been building on Solana and rode the entire roller coaster. Up, down and up again. Yep. But you obviously believe that high leverage is not gone, even if that's not what people

are trading right now, because that's what you're building. So like, what do you see as the next rotation in the space? I'm not talking about narrative, but like actual tools of where traders are going to land? Yeah, you know, I think with Solana right now, there's a lot of a lot of the big primitives, you know, in for kind of infrastructure things that are being built. You know, Hero has has had a token and been in the ecosystem for a long time and um definitely started to see some interest rotate back into into uh our ecosystem but then there are a couple of um uh projects that that did not have tokens in their ecosystem that are now um pending airdrops so wormholeormhole, obviously, which is a bridge, which is chain agnostic,

they're doing their airdrop Wednesday. People have been waiting on things like margin and drift. Drift, which is another DEX, their tokens being airdropped to people that have accumulated points through their programs. Let's not get into points. You saw my face. Yeah.

And, but, you know, I do think that's going to create some interesting things happening. Obviously Hero, we've been, you know, we've been building heavily in the space, building derivatives, embedding infrastructure, things happening. Obviously, Hero, we've been building heavily in the space, building derivatives and vetting infrastructure, now have five projects that are either integrated or are in the process of integrating on the derivative side, like different applications, UIs, in projects that are much more consumer-facing. And then on the betting side, have really started to pick up actually heavily into like some web two crossover

with some big high gaming casino platform operators that are now integrating or integrated or integrating games into their platforms that are ultimately powered by Hero Network, which has been really cool. So wait, so these are like your classic, I'm not saying the actual name, PokerStars, or like offshore, you know, Blackjack.

Yeah, that card, that swap. You know, like I think some of the people... What's their upside to integrating, you know, blockchain or this technology? Is it the tech's better or is it access to our degenerates or both? I think there's no shortage of those. I think some of its new technology that they're looking to explore, the iGaming space is definitely is is definitely much slower moving than than even like decentralized finance in my like or even like traditional finance in some ways um you know they they have a really

good thing going there and uh it's interesting to see that you know it's taken it's taken us a good solid couple years to really plant a flag there and start to get some of these projects or sorry some of these these um companies to to really kind of get in the sandbox and start testing this stuff out and so we've we've now gotten to the point where they they love the concepts of the games they love the some of the the things that come out of of um avanchi power protocols around incentives and some of the things that exist there the transparency the things that come out of on-chain power protocols around incentives and some of the things that exist there, the transparency, the way that, like, you know, it's kind of a different way of doing things provably fair.

These are all big kind of buzzwords in the... I was going to say, these are all the, like, original promises of previous cycles that we've heard about why people would actually adopt this tech, and it's just been way way slower i think that it's been and now it's happening on and now we're doing it fully on uh you know uh in the iGaming space which really is kind of the next gen of what the original hero was uh but then so we have that going on the betting side we have this going on the derivative side it's all feeding into hero derivative side. It's all feeding into Hero Network.

It's all feeding back to our ecosystem and to staking and everything. So it's been really cool to see this year. I'm really glad that we built very hard throughout the bear market. And now that we're in this bull market, starting to see some of it really come to life. And so I think things like that are going to pick up.

We did launch these. We did start to launch these things called zero day futures, which are kind of like our version of the zero day option, which is obviously a very popular product in the traditional retail trading world. Yeah, TradFi. And so these are daily expiring futures that uh have the ability to um you can trade them up to 100x leverage the way that they're um they're created you actually

uh we actually can run them on things that normal like perpetrating platforms um on products that they can't do so you can't really run perps on, on like more liquid coins or, or like meme coins or even something like with, for example, it's very tricky for market makers or liquidity pools to offer liquidity in those because they can get, they move too fast. They can get too fast.

They can get wiped too, too easily. And so the way that these are set up, it makes it a lot more friendly for liquidity providers. So we actually can bring liquidity into these, into these endpoints. So now we're going to, on these high flying mean points, we're now going to have leverage on these high flying mean points. That's just what the world needs. Thank you.

It's exactly what, it's exactly what we needed. No, seriously though, but. Free crack giveaway for the meth heads. It's good. Thanks. No, it's, but, but it's, it's, Captain. But it's for blue chips also. So it's going to be on Bitcoin, ESOL. It allows us to get out of those kind of three blue chips and into some more classic alts that now all the protocols, or sorry, all the platforms that are being powered by Hero Network, if you're a Hero Network powered derivatives platform, you can carry these products. Right. And if you have

a deeper liquidity pool for trading, it doesn't matter like how ridiculous the asset is as long as you don't get wiped on a 1% move because there was literally no market maker, anything underlying. So it makes a hell of a lot of sense. Yeah. That's what we're solving for right there. It's just the liquidity fragmentation and the lack of liquidity in these things. And we need to solve for it. It's something that a lot of people try to hit or think they're hitting. Sometimes I think that they're hitting it to try to solve for a traditional finance replacement. I have come to the conclusion that it's not about finding a replacement. This is a whole new world. This is a world that there is a massive community and massive user base that wants to come to these things.

And then there's traditional finance. Will they converge over time? Possibly. But I think this is something that we're really going to be playing the flag here for the future. So I'm pretty excited. That's been one of the most interesting things about this market. Because obviously, we have this crazy event with the Bitcoin spot ETF approvals. They've got to be approaching. I haven't looked.

But I'm assuming they're approaching $60 billion. Actually, with the dip, it might be less. But in AUM, even with a $15 billion sell-off worth of GBTC, which I just find astounding. I'm just trying to pull up the stats as we're talking. Is that halfway now? Yeah. I mean, obviously the price went up. So GBTC has maintained a market cap of $21 billion.

But they were at $26 when price was in the 40s. So they're at $21 now with price in the 60s. And iBits at $16.5. I've got it here. So BlackRock's at 16.5, GBTC's at 21.7. Talk about a flippening, right? I don't think anybody saw that happening as fast. Forget ETH and Bitcoin, that's massive. So yeah, I guess we're at 54 total market cap daily volume, about 101 million. We're kind of back to net outflows this week. But regardless, the question outside of that is we have this bifurcation. You've got everything that's happening institutionally with Bitcoin. And then my argument is that you get the wealth

effect of people making all the money as a result who are crypto degens, and they're going to find ways to play in the casino because they're bored and want to make more money. But we know the liquidity is not passing from someone's IRA into like with, right? So what are you seeing on the liquid? What are you actually seeing? You're building this stuff, but what are you actually seeing on the liquidity coming into DeFi right now? I know you're pretty close on Solana, but ETH, Solana, everywhere. I mean, are we seeing the old washing machine or is there really new money coming in? I guess that's the question I'm getting. I think it's less organic right now. I think it's a lot like if we were going to compare it to 2021,

like it's still within the confines of the crypto bubble, the money that's moving through. I think that, I actually think that NFTs from the last couple of years brought in so many new retail degens. I'm sure you've said this. You and I generally think very similarly. Yeah, I'm loving it. Go ahead. Continue. My take is that that brought in this massive ecosystem of retail degens and when those slowed downs that is kind of what perpetuated the meme coin craze because it's it is the lowest form of thing that you need to understand to speculate

on and um so that kind of transferred to NFTs, to meme coins. And the money that you're seeing move hands is really from the NFT space. And it kind of proves out. If you look at the NFT space, it's dead. It's dead right now. It's all dead. Okay. So here's been my premise that I think you just echoed more articulately.

Everybody said when Bitcoin hits 50, we're going to get this massive retail wave. It's going to be everywhere. When it makes a new all-time high, that's going to be it. Everyone's going to pay attention. It's going to go nuts. None of those things happened. And I kind of put on my D-Gen hat and was like, well, are people underwater on Bitcoin who have been trading it or who were retail or who heard about it last cycle? No, they're underwater on Doge and NFTs. So if we see Doge hit 79 cents and the 90% of people who came on to trade that on centralized exchanges because of Elon Musk or my aunt and people who never bought another crypto thing, that's what's going to get the absolute mayhem, I think, from retail and NFTs as well. But let's be honest, 99% of the NFTs people bought are never coming back?

No. Never? Doge, I believe, will make a new all-time high at some point this cycle. And that's going to drive people nuts. Is Elon going to let people use Doge's currency to get a neural link? It's a non-zero possibility.

Who knows? Can you imagine spending Doge at a Mavericks game or on a Tesla with your brain? I want to spend Costco hot dog at Costco. This is so dumb. We're pretty serious people. I know that whatever, I've known you a very long time. You're a very

serious person. I love history. It's amazing. I've told this. I was on Yahoo Finance two or three weeks ago, and they had Cynthia Lummis on before me, a senator from Wyoming. They asked her about meme coins. They're having a serious conversation about Bitcoin and regulation, whatever. What do you think of meme coins? I was cringing and so embarrassed in the background. Why are these serious people asking this serious person about meme coins? But it shows that it has captured. To your point, I don't think there's any new money.

I guess the next question is what's going to bring new money then? When do those people, the new retail, not the same degens doing the washing machine, come into anything other than Bitcoin ETFs? It's a good question i don't i don't like it i i think maybe we got a little bit but it but it's nowhere near like i wouldn't call it retail adoption or you know that you're getting like you know you're just getting this massive wave i think if you have like kind of this next move if the next narratives that pick up are around things that are more around like infrastructure or things that feel much more tangible you you'll have a there's an opportunity

there um and and again like i kind of look at it where you you need to have convexity in these things as well so part of the nice thing about the, what I mean by that is that you have a lot of these things that have kind of been quiet, that really, if you think about it logically, are maybe like, mispriced, kind of relative to what their, their perspective opportunity is. And, you know, getting those having those come back to life. And like, this is what you saw in 2021 DeFi, right? It was that big hot ball of money that was moving. And kind of like the second or third move is when all, is when you got the calls from all your doctor and lawyer friends. Yeah.

And, and they're like, you know, I don't care. Like, how do I set up a, how do I set up a wallet? Like I'm putting money in, tell me what to get, you know, tell me what to buy. And, um, maybe we're kind of in the first or second stage of that right now. Yeah, I think most people told them all the things that they were selling. Because they got that. I can't tell you what to buy, but whatever that thing is you're about to... My aunt, literally, my aunt has never heard of crypto, nothing.

She called me when Doge was 70 cents and told me, Elon Musk is going on saturday night live tomorrow is this time to buy it it's going to pump and i tweet i told her like literally don't touch crypto ever like even bitcoin that's it we're done if you're calling me call me in two years we'll have this conversation again and i tweeted everywhere like i've gotten my final ultimate top signal it's over and that was literally the dead top is that day. It never fails, right? The calls from friends.

It's the equivalent of the meme coin craze being on the cover of Time magazine if it was 20 years ago. When you were a trader 20 years ago, that was always a signal. The second it hit the headlines of the newspaper, it was like, all right, it's done. And it hit the front the headlines of the newspaper was like all right it's it's done and that that's it's the same thing playing out it's your friends that have you know that that that are in the non-crypto world that are doctors lawyers dentists whatever and now they're calling you up and saying do i need to to do something? What do I need to do here? And you're like, you're you being here every day. You're like, we just missed like 15,000% of the move. Like, but yeah. So to me, it's even people in the space that are working hard.

Like somebody, somebody was hitting me up yesterday. Cause I was talking about core that we talked about before the show. Like, and they were like, should I be doing something and i'm like the thing just went from like 70 cents to four dollars in like three days like we got it maybe let it like don't follow it like give it a minute let it set up let's see what let's see what happens here and it it's that same story playing out over and over again again so um you know it's all speaking to what we're seeing right we're going to see the pullback here we're going to see it coming to some levels i know you're a great technician and um you're you'll see where it's

time to start doing things again i'm sure most others will see the same and it'll retest and look this thing's going higher again um i uh it's it's not a matter of if, it's a matter of when. I'm excited to continue to be a part of it. I agree 100%. Thank you so much, man. Everybody follow Gunny. Twitter's down in the description. Was it Hero?

You've changed. It's H-X-R-O-B-T-C on Twitter. I love what you guys are doing. it's a H X R O B T C on, uh, on Twitter. And, um, yeah. Uh, I love what you guys are doing. And, and so by, I found a picture by the way,

this is what, if you're wondering why we were late today, guys, it's because I was trying to decide whether I was going to Dubai for token 2049 in two weeks. And basically I would only go so that Gunny and I can play this golf course in the middle of the night. Like I was playing here at midnight in the middle of the city.

It's just a desert. That looks absolutely amazing. It's insane. You know what was not absolutely amazing? That 134-yard slice into that building where it's a big hit that I hit right after that. The police show up and

cut your pinky off? Not my best round. What they don't tell you is that you can't see anything where the dark spots are and that's where your ball always goes. Follow Gunny and hopefully I will maybe catch up with you in Dubai. Awesome, man. Thanks, Scott. Appreciate it.

A little housekeeping. We promised last week that Andrew and Tillman from Arch were going to be doing a Tuesday afternoon show, but then we realized we have a much better audience at Tuesday in the morning and had a wide open slot at 9 30 and it'll be amazing to have them come on now which tillman probably hates because it's like 6 30 in the morning where he is or something i'll bring you so like when you guys uh when we were talking i literally saw tillman your face in the background

and i was trying to keep a straight face we were talking about the meme nonsense and everything that's happening there i mean it's ridiculous that this is the conversation we're having in 2024 but hey here we are well y'all were touching on some really good stuff i think utility is what's going to bring the next wave like you were talking about the the the liquidity that we've seen up until this point are people who have convinced themselves through education that the technology works and that it's transformative and it's going to change, you know, pretty much every aspect of life. But we haven't seen that yet. We haven't seen,

you know, the ability to pay your utility bill and crypto um and have your lights turned on instantly versus waiting two days to have somebody come come back out like smart contracts will be functionally um you know the on off switch for everything going forward that's uh that's a paid for service so we'll see that and that that adoption will bring everyone into the, the, the space by whether they know it or not, they'll be using the rails is that would be my premise. Andrew, I didn't intend to ask you this, but I just saw a comment that I have a feeling might trigger one of your moments. So I'm going to bring it up. It says influencers give that pain to look in their

face when the superior bch comes up when will they do the research and find out would rather talk to my okay you don't have to comment i just i just want to see your guys faces if i if i if i roger veered you uh in public but yesterday was actually april's Day. So I'm going to assume that this guy is just in a different time zone or something. Yeah. BCH is good for one thing. Buying Bitmain miners because that's the only thing you can buy them in. Unbelievable. It still triggers me, though, that Bitcoin.com is those guys yeah it will forever be a a a problem um but you know roger roger was an og of ogs he just went very very very sideways um so yeah all right so before we give the update on we you guys may remember we started talking about we were going to share

weekly performance of everything that's going on with arch public which you will a bunch of you guys signed up so i'm curious to see uh your reactions and how it's going for you i know that you guys have had conversations with a bunch of people uh probably who are the audience right now someone right here i've got my arch meeting scheduled for wednesday there you go see um? But first, Andrew, you always have some inside baseball as to what's going on. I held this. I didn't post it before we got on your show because I wanted to break some news here on the show with you. UBS next week is going to open up the Bitcoin ETFs, not just to their PWM ultra high net worth clients on an unsolicited basis, that it's going to go firm wide. And the reason why that's a huge deal is because UBS manages $3.5 trillion globally as a wealth management organization. And for the listeners that are trying to get a handle on UBS, Morgan Stanley, Merrill Lynch, UBS is unique in this way.

90% of their revenue comes from pure wealth management. They don't have significant trade desks. They don't have significant profit operations. They don't make tons of money trading bonds with other big firms. They make money by sitting across from rich people and generating fees based on them holding their assets at UBS. So that $3.5 trillion in AUM is pure wealth management money. So the Bitcoin ETFs being opened up on UBS and being a big part of the conversation on a go forward basis with asset allocation next month and the following month and the following month is a really big deal. So UBS is opening up their platform to the Bitcoin ETFs next week. When we see those unlocks, is it generally still at first unsolicited? Like the customer has to call and say, hey,

I want access to these. You don't have it. And then you get it. Or is this a pivot? Or when do we see the pivot to, hey, we're putting everybody 1% into these Bitcoin ETFs or them actively soliciting people to purchase these? This is that pivot. So up until now, they were only available to PWM clients. PWM is private wealth management. So you got to have 10 million long at the firm or more to be in that category. They were only opening it up to PWM clients on an unsolicited basis. This is now going to be available to all clients, and they're going to be able to market it, and the unsolicited goes away.

So that's, I mean, by counting what we should have in the next couple weeks, it was Morgan Stanley or Merrill or both? Morgan Stanley. Merrill, potentially, and UBS? Yeah, UBS. Merrill Lynch is still in the unsolicited bucket. We also had Bitwise announced last week that PNC Bank is onboarding just Bitwise. Right. So, you know, think about that for a minute. Yeah, that's wild that they passed BlackRock and Fidelity just to Bitwise. That shows you all the Bitwise guys are out on the road show.

Yeah. And not only that, it's a guys are out on the road show. Yeah. And not only that, it's a bank bank, right? It's a bank. Like PNC doesn't have, you know, huge towers in cities. They have branches. You know, you go to PNC, you're going to a branch, right? So it's a bank bank and they're onboarding a Bitcoin ETF and it's Bitwise, right? They've done, Bitwise has done, you know, serious,

serious work on the ground. You know, those guys, the roadshow, they are actually absolutely killing it out there. Yeah. I thought we had Matt Hogan on Spaces yesterday, but I had a meeting with him and literally every time he turns on his camera, he's in a different hotel room for months. It's unbelievable. And he's the CIO, like he's not the sales team. They send their researchers Yeah, yeah. I've had conversations with them, set them up with other organizations that I can't release right now, but I know they're in front of a lot of people. Awesome. So let's talk about Archpublic. We've got a screen here. Am I good to share that? Yeah, go for it. Sweet. We can see it. We guys, we're three boomers, figured out the tech. And by the tech, I don't mean the actual trading algorithm. I mean, getting a extra, getting this shown on our screen. So what are we looking at here?

Well, the fourth hidden guy that's sharing the screen right now has actually figured out the tech. So credit to Dan behind the scenes. So what you're seeing right now is TradeStation's desktop. If you look up in the top left-hand corner, you'll see their name and logo. And then the actual chart that you're looking at is the micro e-mini Dow continuous contracts, the June 24 contracts. So that is the Dow Jones Industrial Futures contracts. And this is the price action. This is the chart. So if you look down at the 930 timeframe, you'll see an LE with a 12 right there. That's a long entry of 12 contracts.

And when you wake up in the morning, if you wake up after market hours and the spread of the gap met the requirements of the previous day to take the trade, then you will have woken up to see this chart and see the trade having already taken place. If you woke up before the market opened and the automation took a trade, you'd actually get to watch it go into the trade and watch it exit the trade. But this is a long entry because the gap, it was down. So anytime that there's a gap from the previous close to today's open, so let's say yesterday was at $100 and today was at $95 at the open, that's a gap down. Well, the automation is going to take a long entry, betting that the gap is going to close. And you can adjust how wide you want the gap to be as it relates to justifying the trade,

how narrow you want it to be, how much money you want to press beyond the gap. If you want to cut it off before it even reaches the gap, all of those things are user-driven and completely customizable to your- But there are recommended settings. I mean- There are recommended settings. It comes out of the box with default settings that will, if you just turn it on in the morning, it will take trades and operate and function the way it was designed to function. So this is an example of the gap closing. As you can see, there was at the open, there was a large price jump and we rode that appreciation and it exited you at the target exit. So it's important

to know that the stop losses, both long and short, are built in. So when it enters a trade, it knows exactly what the exit point is, whether it's losing money or whether it's winning money or gaining money. And so you have predetermined exits that you don't have to worry about. You don't have to wonder if it's a good spot, if it's a bad spot. It's already done before the trade was taken when there was no emotion involved. If you can see the red line on your screen, that's actually indicative of a negative trade. Can you see that right in the middle? If you guys could zoom in Dan, if you can zoom in, it would probably help.

But yeah, if not, all good. He'll make it wider. Yeah, perfect. Real time. So this is a negative trade. A negative trade is when the gap doesn't close. So if there's a gap up and we're going to go short on that gap and the market as it opens continues to rise, then we would have lost on that trade and it would have gotten

you out. And that's exactly what happened in this. You can see a short entry right there of 14 contracts, and then you can see a stop loss exit right there of 14 contracts. And then you can see a stop loss exit right there in the top. So every single morning when the market opens, it's making a measurement of where the market closed in the previous day. And it's making a measurement of how big that gap is, both long or short. And it's going to take the trade that the gap is going to close. And the reason why that's a significant trade is that gaps are inefficiencies in the market. When you see a gap, it means nothing happened in that space. It's a vacuum. And nature abhors a vacuum. And so does price action.

And so if you know that the market maker's job is to have prices acting every interval up the ladder and down the ladder. Most of the time, 65% over the last 25 years with these settings, we've done historical analysis to show that 65% of the time the gap closes, that those inefficiencies get corrected upon the open, that the price, the overnight action is so thinly traded, that it's not a true representation of where the price is really trading. It's like a premium price driven market. And so when the market returns back to normal operating hours and the volume kicks back in, you should see the price return back to where the willing buyer and the willing seller met yesterday at the highest level, which is the close. Right.

I mean, we're looking at one-minute charts for people. These are very quick moves. And to be clear, like I see the comments, nobody's saying this has a 100% hit rate. It was a 50% something, 54% or something when we were talking about it last week. It's just that you lose less. You have more upside on the wins, and you cut them very quickly if they're losses. That's literally how this works. Well, that's exactly right. And what you want to do with this is our gateway program. So this is our entry level program. This is something that, you know,

gets you started, gets you familiar with what trading automation is, and allows you to see what the results look like on a weekly, daily time, monthly basis. But this particular bot does not trade very often. So you can look at the performance report from TradeStation right here, and you can see that in the month of March, for example, we took three trades. It was a loser of 427, a winner of 726, and another winner of 63. So what we've done is we've built in stop losses that are about half as long as your winning profit targets. And so if the price continues to move in the direction that the position is in, that you're going to have twice as much opportunity to make money as lose it. And that's just a two to one profit target is what we're trying to reach for. So if you look at crypto, we go ten to one or it's nothing, dude.

Ten to one, you didn't even do it. If you get to nine and then you go back down and stop out, that was a good trade because you didn't get your 10. And listen, there's a real big distinction hidden in that comment that I want to make is you sleep in cash every night. You are exited every single night. This closes your positions. So this is not intended to make gains through the overnight hours. This is intended to make gains during the day. And when you are done making gains, you get to go to bed and you get to put those in the coffers and then you get to play with a bigger stack the next day going into the market so you can buy more contracts and compound your profits daily. And that's really, if you can compound your profits of anything daily and you can do it consistently, there's a lot of power in that. Well, let's cover March results now. I know we had a really good March.

So tell me if you want to go through kind of what the stats were for March. Yeah, well, we're looking at the weekly. Let's go to the monthly, if you don't mind, Dan. Let me go through the monthly performance report. So anytime you're looking at monthly performance report, you're you're wanting to throw out the high and the low because this is historical data. So, you know, anomaly months are typically not repeated in the next sequence. But, you know, this is just the way that I do it. Everybody does it differently. But what you want to do is you just want to look at the size of the losers versus the

size of the winners and how many winners you are able to stack up before you are in the red. So once you start playing with house money and you start being able to leverage those profits into next day's trades, it becomes infinitely easier to stomach the losses that you're going to take or the downturns that you're going to take. that allows you to put it in autopilot and check it once a day if you want and see what happened. Make sure you didn't lose internet connection or computer capabilities. Your computer didn't crash, but it's something that's very hands-off. And once you learn it at the simple level, this kind of this introductory course that we've created, we have over 37 strategies that are very, very simple to very, very complex. And we can help you craft a portfolio of automated strategies that fit your needs, that meet your criteria from a risk perspective, and that help

you have the tools that are necessary to trade when you're not sitting at your computer. And so these are all user-driven parameters that we can walk you through. There's a lot of them. We'd love to schedule a time and show you a more in-depth, deep dive. We can show you a variety of different products and different strategies so that you can evaluate our concierge program if that fits you. But we're all about trying to get technology in the hands of our customers and show them how useful it is for their purposes and teach them how to use it. So that's kind of the overall gateway introductory demonstration. People are asking, I can see, okay. Once again, the people on Twitter asking for info

on the, on the platform, uh, it's not there. It's in the YouTube description. So if you just click over to my YouTube channel and find this, it's right down in the description below, and you can, uh, sign up for a meeting with these guys, or there's also the $99 product. I know a bunch of guys bought it. So I'm looking for the feedback, um, you know, from last week. I can't wait to see the feedback, but I know that it's done well. I also, I'm freezing here every time I try to load a new screen, but hopefully you guys can still hear me. And assuming that you can, it's performed exceptionally well. And there's people making comments here that these things don't work during bear markets. I just wanted to be clear that this thing also shorts, right? So I mean, yeah, so this goes long and short, it's looking for gaps of inefficiency,

and it's going to take those positions that the gap's going to close. So it has no, it's only in for a very short period of time, an average of about an hour and 27 minutes, you know, per day, and it only trades three to six times a month. So you're in the market for very, very short periods of time. It's looking for optimal time periods, and it's taking advantage of being ready for those time periods, unlike a human being who, if you were looking for these rare occasions where the gap kind of fits the bill, if you will, you'd have to sit at your computer every morning from 6.30 a.m. until 7.30 a.m. and you'd have to have your finger on the trigger ready to go. And there's a lot of people that try to do that. And even if you

do try to do that, a piece of automation, a software is going to beat you into that trade every time. It's quicker than you are by definition. So it's just an advantage. Look at it as a force multiplier. If you're interested in day trading, if you're interested in getting into automated trading, this is a tool that you can have on your computer. You can deposit your money in a US-based broker dealer trade station. We do not hold any money. We do not trade anyone's money. We are a software development company that will help you utilize the software that we've built to make your trades automated. Andrew, any final thoughts? Final thoughts are buy Bitcoin on the dips. That's my thoughts. Forget the thing, just buy Bitcoin. So the good news is when it closes out today at the end of the day,

the portfolio will be buying Bitcoin on the dip. That's right. We love compounding on compounding. So take the profits from your algo, put it into Bitcoin, and you're now compounding on top of compounding. We talked about that on a previous stream. And listen, even the numbers that we just showed there, you're talking about percentages on a monthly basis that we've got to be careful about what we say because past performance isn't a predictor of future performance. Our lawyers make us say that, but the numbers aren't very remarkable.

Tell my wife that, actually. Yeah, yeah. When I was young man yeah yeah get a little long in the tooth that was well done that was well done scott well done thank you um but yeah it's uh it's a remarkable product and as tillman said if you get into our ecosystem we've got more than 30 strategies available to you that are even more remarkable. So it's great stuff. Anytime I can make an offhanded version of that's what she said. Yeah, yeah, yeah. You know, very, very mature. Yeah, I think it's in the description. It's thearchpublic.com. So come and take a look at us.

And we've got a remarkable team that really takes care of people and and uh we're all about service and getting people onboarded into something that's extraordinary awesome love it guys everybody please check it out set up a call with these dudes um very well worth it because i spent months uh doing it with them so uh i know i love people saying if there's a money printer, why are you selling it to us? I don't know. So you can get access to a money printer. Seems fucking obvious. But hey, whatever, man. Guys, thank you so much. We will be back. We'll have you guys, of course, every Tuesday, 9.30am Eastern Standard Time. And I will be back tomorrow at 9am Eastern Standard Time.

Thanks, gentlemen. See you soon. Bye guys.