The Wolf Of All Streets - Massive Win For Bitcoin! Why The New All-Time High Is Just the Beginning!

Episode Date: November 6, 2024

I am joined by Mark Yusko, founder, CEO & CIO of Morgan Creek Capital, as we dive into the impact of Donald Trump’s second presidential victory and what it means for Bitcoin’s future! Mark Yusko: https://x.com/markyusko Chris Inks will join us in the second part to share some interesting trades in crypto and beyond.  Chris Inks: https://twitter.com/TXWestCapital ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEKDAY! 👉https://thewolfden.substack.com/   ►► The Arch Public Unleash algorithmic trading. Discover how algorithms used by hedge-funds are now accessible to traders looking for unparalleled insights and opportunities!  👉https://thearchpublic.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 #Trump 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.

Donald Trump and the Republicans won a landslide victory. Donald Trump likely winning the popular vote. Kamala Harris literally underperforming in every single county in America. It is clear who is the winner of this election. The Republicans also have taken the Senate and likely to take the House. The red sweep that Mike McGlone talks about every Monday seemingly has happened. But I think we can all agree that maybe the biggest winner in this election is Bitcoin and the crypto industry as a whole. I don't know if it's just kismet or good planning by the producers, but man, having Mark Yusko today, this morning on a day like this is a dream come true. Maybe better than even the election win for the crypto industry,

guys. Let's go. for another weeks or months that we can go from what is likely to happen to talking about what actually happened for once. So awesome. So awesome. So many things. And I think we need to have like two hours, but I know we don't have two hours, so we'll skip much of it. But I do have to do the reveal. I wore the orange pants yesterday for the Bitcoin wave. So I got the green on today for the green candles. I mean, that candle, man. I want to see the socks. So I have the rocket ship, Bitcoin moon. So someone said, would I wear the wolf socks today? Because I tweeted out yesterday that we are at an extreme junction, right? We're going to see if the wolves or the sheep win. And I really, really believe that.

We had this situation where we just had these mindless followers of policies that were just bad and you needed some strong like chutzpah to back it up. So it is the wolf of all streets. We talked about the wolves. The wolves have spoken. So dude, you know what it means? It means that you're the first person who ever made me do it when this was an audio only show, but we're going to do it. We're going to howl. All right. We're going to howl on three, two, one. You heard it here first, guys. And speaking of your green pants and green candle, there it is. I mean, Bitcoin starting the day yesterday, 69,288. That's last night at 8 p.m. So only 13 hours ago, above 75,000, 75,000, about 400, and currently still trading above the recent all-time high. I mean, these dudes, these markets. It is the green candle.

These whales, whoever has fun painting our charts, they're poets. To do this on election night as the momentum was increasing, the odds of the Trump victory, watching that candle go up, there was something pretty poetic about it. It was amazing. It was poetry. I agree. Short sellers just got wrecked. I mean,

completely wrecked. And it wasn't a huge trade, but we run a fund, More Greek Digital, and 80% of our investments are in equity of businesses building the digital future, AI, blockchain, chips, data. 20% can be in liquid protocols. We don't trade. We accumulate. We were getting ready to make a capital call. It just happened that the timing was right.

Night before last, we bought a nice little chunk and our timing was quite good. So it works. So listen, I try on this channel very hard. I'm an unaffiliated, I'm registered unaffiliated, right? I like to remain as unbiased and I try not to like inject my personal opinions because I feel like it's my job to just cover how policies and news affect our industry. So regardless of your feelings, whether you're a one issue voter, whether you love this or you hate it, objectively, this is huge for the crypto industry. There aren't even words. There actually aren't. There aren't words. We could not be positive enough, Scott, to that point. And look, I'm prone to hyperbole,

right? That's my nature. But even I could not be effusive enough about how positive this is. And look, do I think Donald Trump is a giant Bitcoin-er? No. Do I think that he is an incredible opportunist? Absolutely. And he got, somebody told him, and whether it was Vivek or whether it was his son, or it doesn't really matter. It could have been David Bailey. I mean, it could have been any number people, told him, you know, there are 260 million people globally that own this thing. Really? Tell me more. Well, you could be nice to them and some of them will probably like you. Tell me more. And I'll never forget.

I mean, Scott, I will never forget. And they hate your opponent. Exactly. Exactly. Well, and that was the big faux pas on the other side is they could have done this first, right? They could have embraced it, but instead they doubled down. Now there's a reason I'll explain why they did that, which again, mistake, but I do understand why they thought it was a good idea. But the thing I'll never forget was Bitcoin 2024. The Donald's there, right? And they invite Kamala and she says no,

which again, mistake. But he gets up there and he says, on day one, I will fire Gary. And the place, I mean, the place went crazy. Even he was like shocked. He's like- He said, I'm going to say it again. I'm going to say it again. And he said, no, you guys hate that guy so much crazy again. And I was like, wow, that was, that was a moment. And, and that moment, it wasn't quite as profound, but do you remember the video of Trump getting roasted by obama at the press corps dinner

where you saw the light bulb like he's like okay motherfuckers i'm i'm running for president and he you know he messed up the first few times running as an independent and all that good stuff but but the light bulb that was a light bulb moment not quite as extreme, but it was amazing to watch this guy say, okay, I'm in. And then he surrounded himself with other people. I said, this is the thing that great presidents do. And I'm not going to go out on a limb and say, he's some great person. But great presidents, Reagan, Clinton, JFK, what do they do? They surround themselves with excellence. And the last time he was in office, he did a pretty good job. I'd give him a B plus for that. This time, it's looking like an A. I mean, so far, I mean, RFK. I mean, I don't know if Elon's really going to be the head of the Doge.

Elon Musk played a pivotal role in swinging the selection. Oh, my gosh. I mean, incredible. And look, people know this about me. I have not been historically the biggest Elon fanboy. But in the last month, I actually consumed a lot of content, including not I haven't watched the whole thing, but a lot of the Rogan podcast. I'm coming around. I mean, this guy has, I don't know, maybe he's

changed me. He's more measured. I mean, he's always been a visionary. He's always been been really good at execution. But he's just so much more measured now and positive. He's a really, I don't know. I'm becoming a fanboy. Yeah. The Gensler story couldn't be bigger as well, obviously, right? Donald Trump said fire Gary Gensler on day one. As you said, there was a fear that if Harris won, we would get more of Gensler, although there wasn't much clarity on that. But just sort of unpacking his likelihood of continuing, I would say, is slim to none and slim just- Oh, he's out.

He's out. And look, I will take either one. I'll take Crypto Mom. I mean, she would be amazing. But I would also take John Deaton. And look, I'm crushed. Are we seeing John Deaton floated as SEC chair? Because I saw-

I've heard a couple people, including myself, say yes. Dan Gallagher from Robinhood would be great as well. This guy would be amazing. And I admire what John did. I mean, he went up against the machine. I mean, how is it possible? With millions of his own money. Yes. Yes. How is it possible that maybe, and I don't know if this is a hundred percent true, but she might be the least effective Senator of all time, right? In terms of getting things done and just being just generally negative and nasty and just yuck.

Somehow she got 82% of the votes. It just, it boggles the mind. It boggles the mind. That's the people that just show up and they see blue and they vote and they don't think. And they, I mean, that's, you know, that's just how generally voting works in this country. I was gutted that John lost, but the silver lining is that Elizabeth Warren won, but she's on an island, right? Oh, I love that. I think James Brown, Sherrod Brown lost to Bernie Moreno in Ohio.

He was the, I guess Bernie's amazing. By the way, Bernie, Bernie is a great visionary. Great. He'll, he'll be great.

Look, I, I, I think, you know, the general is still around. I think Jameson Lopp tweeted this out this morning and Jameson's amazing. He's so funny.

That, but the ranks, that's your point. The ranks are decimated andimated and the lines are gone. And you're now – and so she has no power anymore. And she's got the great opportunist as the commander in chief, who's going to then surround himself with people who actually want to get stuff done. And I don't know if he really believes it. He said the other day, he said, you know, maybe we'll just pay off all the debt around the world in Bitcoin. I have a Bitcoin check.

No, no, no. Here's the thing. At first, it's kind of a silly statement, right? It's kind of, oh, we'll just print the trillion dollar coin. Remember that nonsense that they were just going to print a trillion dollar coin and hand them out? But the difference here is when you think about debt, right? There are only four things you can do.

So once you get massively in debt, there are four ways out. You can pay it back. Well, but the problem is, if you confiscated all the wealth of all the citizens, you couldn't pay, not their income, all the wealth, you couldn't pay down that. Okay. So that's the first problem. Second thing you can do is you can default on it. Well, now governments that default get kicked out. So politicians don't like to get kicked out. So they're not going to default on it. I mean, that's a last resort. Third thing you can do is you can restructure it. Now, this is interesting. The only way you can restructure it is you get someone is interesting. The only way you can restructure it is you get someone to take the other deal. So if you say,

hey, I'll give you 70 cents on the dollar for your debt, the average holder outside in China or Russia is going to say, screw you, I want 100 cents. You told me it was money good. If you told them, I'll give you 50 cents on the dollar, but in Bitcoin.

That actually starts to maybe be interesting because the fourth way out, which is going to continue, is devalue the currency. That is going to continue because every president, doesn't matter left, right, center, blue, red, purple, does not matter. The amount of deficit spending and debt continues to rise, which is just a devaluation of the currency. And I just retweeted a really well done, I don't even know who the guy is, but he was talking to the CNN hosts about, look, we need to listen. We were just told by the American people that these are the things they care about. And the thing they cared about most was having their wealth stolen from them,

their income stolen from them in the form of inflation. But see, I argue it's not inflation. We call it inflation, but inflation is when there's excess demand for too little goods and prices rise. That's inflation. What we have is currency devaluation through the lunacy of MMT. The cult of Kelton, thankfully, the biggest win last night is the cult of Kelton is now dead. The cult of Kelton is gone. And we are not going to have this nonsense that we can print money out

of thin air with no retro with no uh not retribution but with with no uh response from the rest of the world and from our own country right i i went to lunch the other day, myself, me. I didn't even have a drink. I had water. It was $22. That's insane. I don't live in New York. I don't live in Paris. I don't live. I live in Chapel Hill, North Carolina.

It shouldn't cost $22 to go to lunch. That is a hardship. I mean, not for me, but, but I don't mean that in a braggadocious way, but I've been very lucky. I've been very lucky. I've been very fortunate. And, but the average, that is a hardship and that just needs to change. And anyway, so. Yeah. I mean, the bulk of the Trump ad campaigns I saw in the last two to three weeks in Florida,

TV, billboardsboards everything was grocery groceries the cost of your groceries the cost of the restaurant the cost of all those things that was inflation was the thing at least here that they zoomed very very heavily in on to you know swing the election listen they were never going to lose Florida I'm surprised I saw anything uh yeah no it's a good point it's a good point and you know here's the interesting thing um tds is a real thing i mean it's it's real the trump derangement syndrome is and look i truth be told i suffered from it in 2016. i had some pbs i had i i voted for you know the other guy or gal guy i guess it was a gal back then it was it was Hillary, which I can't believe I actually voted for but I did. Because I actually I was voting

against him because I didn't understand. I believe the nonsense. I listened to the nonsense and I believed it. And when I didn't understand it, the sun came up the next day when he took over, but nothing really changed. And he said he's gonna drain the swamp and he didn't. He just fed some smaller alligators in to grow up along with the other alligators that he could control. But he actually did, again, surround himself with some good people, and they did some good things. And, you know, I don't agree with all the policies, but we did a lot of things that were positive because he ran it like a business.

And then we went back in the last four years to just yuck. I mean, total yuck from a policy perspective, from an ideological perspective. And so now he wins again. And the TDS is like super real. But the sun came up today. I've been tweeting that all morning. Like, it's fine. Kiss your wife.

Hug your kids. Yes, I did. I almost sent that to some friends of mine who are having some pretty bad TDS right now. Because it's such a great point, right? Yeah. What are things really matter in life? Your kids, your family, your friends. You know, the fact that you're guys are hanging out this morning is awesome.

And I've been saying to people who are obviously coping, which I understand, like, is that in 2016, it was an idea they were voting for. As you said, it was the drain, the swamp, all of those things. In this election, people knew exactly who they were voting for. So you can't really cope about it. You can't say Americans are dumb. You can't say they don't get it. We had four years of Trump. We had four years of Biden. In this case, people were voting on exactly what they saw for those two four-year periods. Whether you like it or not, this is who they chose. And once again, it's beneficial for our industry, which is what this show is about. Like I also tweeted something to the effect of

American shit coiners are the real winners, right? Listen, guys, we can't do anything here. You guys who are not in the United States, you have no idea how hard it is to even participate in Web3 or DeFi or trade in the United States. That is gone. Gary Gensler's gone. The regulatory uncertainty likely will be gone. The lawsuits against Coinbase and Kraken, they will likely be gone. And I will be able to go trade shit coins with you guys all over the world. All over the world and do whatever you want. And here's the thing. Name a technology, right? A life-changing

technology, whether it's electricity, air travel, radio, television, name one that wasn't resisted by the incumbents. Okay. You can't do it, right? They're all resisted by the incumbents. Well, how do the incumbents fight? Regulation. They pay off the governments to put up barriers. My favorite, I tell the story all the time. You've heard the lobby paid New York government to pass a law called the red flag law. That if you bought a horseless carriage, you had to hire a human to walk in front of you with a red flag. Have you ever seen someone walking in front of a car with a red flag? Of course you haven't. But they tried to stop. And look, the Democratic Party, and I can blame them because they did it. They tried, right? They set up FTX. They shot it down to make it seem like it was a crypto problem. That wasn't a crypto problem. That was a bad guy doing

bad things problem. They put a guy in with no experience to obfuscate, obfuscate and persecute any innovation around money. Well, why? Look, financial services and money are the largest industry in the world, and it's not close. And the internet, which busted the monopoly of media and commerce and destroyed a lot of value and created more value, extremely more value, destroyed a bunch of jobs, but created way more jobs. That's what creative destruction is all about. And the out with the old, in with the new. But that was fought, right? There was a bill that tried to kill what you and I are doing right now. Using voice over IP, they tried to make it illegal. Literally, they tried to pass a bill that would have made it illegal to do what you and I are doing right now you've got advisors. Like Vivek is going to be involved. And he's through and through a Bitcoin. And there's a whole group of people who are advising the advisors on why separation of money and state is a good thing. Now, it's not going to be quite as easy as we think, because governments kind of like having the monopoly on money. They do. And they've had it for a long time. And the banks also like, which is why they bought and paid for Ms. Warren, which is how she got 82% of the vote because they paid for those votes. And that's not going away anytime soon. But ultimately, name a technology that was better,

superior, that then got to a point of critical mass and then went away. Can't do it. You can't do it. You've always made the point that you made the most money on the fringe, on the technology. Always. Always. The investments that were on the fringe. The internet was first for, I guess, portographers and Bitcoin was for criminals. Pagers was for drug dealers. I mean, look, it's always the fringe because the fringe isn't allowed to participate in the masses. That's why they're on the fringe. And so what do they do?

Like, well, I don't want to starve. And so I'll figure out a way around and I'll find workarounds. And then they utilize technology that other people don't understand. And then it becomes mainstream. And it always does become mainstream, but it will be, I mean, it will be vilified. And, but I think, I think this is a big day, right? Orange coin good. And, you know, it's funny. I actually worried. I wore my orange pants yesterday because it was Bitcoin, you know, election. I said, vote Nakamoto. That was my tagline for yesterday. And it worked. And we got a whole bunch of pro-crypto, like 219 pro-crypto people got elected, which is awesome. But here's the thing. I actually thought I'd get turned away from the polling place for wearing, because I thought they were going to say, well, you know, or he's an, he's the orange man. Like he's not orange. I mean, he's human like, like the rest of us. And

he's not, he's not actually orange. He's not a new Paloompa. Um, but, but I actually thought it was going to get turned away, but I didn't. Um, and you know, they say orange man, but orange coin is good. And it's here to stay. And it is going to be increasingly the base layer of money. And it is going to replace gold in central bank vaults. We will have a strategic Bitcoin reserve. There are other countries that already have it. And it won't completely replace gold because gold has a role as a physical store of value. Bitcoin is better because it's more portable and more divisible. And I can stuff it in my computer and send it to you, which gold,

I have to hand it to you. But gold still will have a role, but it will have a lesser role relative to Bitcoin. And that is so inevitable. And anyone who wants to argue that point at this point is being obstinate for obstinance sake. Yeah. Let's talk about the market, right? So I think there is a lot of pundits, obviously analysts, all of us included. What will happen with the market? Well, for the crypto market, certainly. And I haven't even checked stocks, but I'm assuming futures are up massively. Yeah. obvious reasons, a huge winner here. Arguably the biggest winner is up as much as 25%. We all know that literally Elon Musk is saying he's going to name an agency Doge, right? I think, you know, here you go, right?

I mean, that's going to move things, right? And so what do you think now we're going to absorb this for a few days, weeks, right? You know, it's so funny. I'm feeling a little sheepish about this, you know, on's so funny. I'm feeling a little sheepish about this, you know, on the wolf and sheep thing. Feeling a little sheepish about this. Two days ago, when we were deciding

to make our allocation, you know, one of the guys, one of the younger guys said, you know, maybe we should buy Doge because it's got more beta than Bitcoin. Like, we are not buying meme coins in our fund. We have institutional clients and we're just not. And I am feeling a little sheepish about that because our job is to make the best return. And as much as I chastise Doge for having no use case and no viable path to having a use case and no developer

activity. It does have a very large following. And here's the thing. It is possible. I'm not saying probable, but it's possible that Elon does actually take a government job. Now, the reason he would do that is then he gets all his capital gains for free. And that's actually a really big deal. How he would do that at the same time as running multiple businesses, I think that's harder. The other people that do it, they put their stuff in a blind trust and they kind of maybe he'll do that i don't know but but if he does it's possible that instead of a cbdc we get a plan to use doge as the government you know to you know if you want to you know do the ebt cards rather than using you know electronic dollars you could use do the EBT cards rather than using electronic dollars, you could use Doge. If something like that happens, I mean, my socks will need more rocket ships because-

And dogs and me. And dogs, yeah. I'll need dogs, yeah. That would be a future I could not even imagine at this point. But I think, you know, more importantly, like, do you think that the Trump administration will be a better scenario for stocks in the next four years? I think it's clear that- Oh, for sure. Well, for sure with one caveat. Because we thought Harris would print more money, which is usually good for-

Exactly. Exactly. So here's the thing. If we're really going to address the deficit, that actually is less good for economic growth. We have a demographic problem in this country, right? Every single day, every single day, 10,000 people turn 65, every single day. And 65-year-old to 85-year-olds don't spend as much. They don't party as much. They don't, you know, they save. They buy bonds. And it doesn't mean they're bad people. And I'm starting to get closer to that age. But it's just reality. And so demographics are destiny. And growth goes down. Interest rates go down. And so that is a challenge. Now, Tim Peterson, who I love, Tim is great, you know, N squared crypto. And he tweeted something today that there is a precedent for this, where a president gets elected, then loses, then gets elected again. Unfortunately, the last time that happened,

we had a massive depression in 1893. And it wasn't causal, but there are some things that have happened, partly because of the bad policies of the money printing and the inflationary problems and the slowdown in growth plus the demographics and the fact that we can't afford the debt service, there's a bunch of things that could spiral into a challenging environment. Now, the flip side of that is, I don't know if you've been to a restaurant lately, but they're packed to the gills. We were at a lacrosse tournament this weekend. Restaurants, flights, hotels. I mean, so despite the rhetoric that things are slowing down or we're near a recession,

I don't see it in the anecdotal evidence. The data is a little less clear. I mean, ISMs down and, but to answer your question, a, a businessman in the white house is pro-business is likely good for markets. Um, can Powell, I mean, I assume he's just going to leave Powell alone and let him, you know, cause he's the one that appointed him in the first place. I assume he's going to leave him alone and let him walk the tightrope, which I think is a pretty serious tightrope. It's going to need a very long balancing bar, but I think, you know, you probably leave him alone. We get rid of the cult of Kelton and we slow down the money printer. That creates a little bit of a headwind but it's likely that there'll be some tax incentives and and policy moves that uh are very pro profitability um so and i think there's enough

money sloshing around the system in terms of just money supply. And China, this is the other thing. All the negative rhetoric about China, that's fine. That's as easy as how you get elected in the United States is hate China. But China quietly is printing lots and lots and lots of renminbi. And that actually is way more important than how many dollars get printed for global trade. And then the last thing I'll say is, I feel like last time the Trump campaign was all about nationalism and reducing globalism. I didn't get that sense this time. I mean, maybe I'm wrong,

but I didn't get that sense this time. Globalism, maybe I'm wrong, but I didn't get that sense this time. Globalism is good. Comparative advantage works. Adam Smith was right. He's always been right. He'll always be right. And reducing global trade and reducing collaboration globally is negative. Now, I do think that the current administration was horrific.

I mean, horrific at global relations. I think that Donald is probably going to do a better job at that. And I think he'll put people in place that do a better job at that. And so that is wildly positive. with the Tim Peterson caveat, which is we are on the verge of the 90 year cycle. Every 90 years in this country, we have had a depression and it's like clockwork. And we're two years overdue. And there were two, but it's only two. It's not like we're 22, but we're two years overdue. And someone would say, well, 22 was kind of like a depression. No, it wasn't really even close. But there was a downturn, and they didn't even call it a recession.

But there's some bad valuation stuff. I'll tell you the thing that has me the most nervous, Scott. The SMCI fraud is a big deal. And NVIDIA asking the Supreme Court for immunity from fraud is a bad thing. That's a really, really bad thing. You know, me thinks that protest too much. That's a bad, bad thing. And we know how this story ends, right? Cisco Nortel had this accounting gimmickry going on in 2000. And when it got unwound, I mean, markets crashed 84%. Cisco went down 87%. Intel, I mean, these overvalued stocks have so much air in them. I mean, NVIDIA trades at 36

times sales. Just let that number hang there for a second. 36 times sales, not 36 times earnings. They're a great company. I'm not, not saying, but I'll tell you the other thing. We, we're about to invest in this kid. And I say kid in a loving way, not disparaging way he's a child he's 33 years old he's as old as my middle son he has invented and i it boggles my mind when i when i'm going to say this out loud he has invented a way to do matrix multiplication in a chip using photons instead of electrons why does that matter, anyone ever had a phone that heats up or computer it heats up? That's that's friction from electrons running between the memory and the processor.

photons don't have that problem, because they don't create the friction. Well, if this chip does what he says, it would be about 100 times faster than an h100. And it will not create heat. So you won't have to spend all the money to cool the chips. That's technological innovation. That's happening all the time. And look, I'm old enough to remember in 2000, over the previous decade, Intel stock had gone up 20 fold, 20 fold, not 20%, 20 fold, because their chip was going to solve AI, was going to 63% from that peak. And Nvidia went from zero to, I think, a crazy number. So that creative destruction will happen again. And so that's the one thing I worry about with stocks, is that there's a lot of massive overvaluation. There's a lot of great opportunity um there's a lot of fun stuff too like meta planet which i'm a board member of full disclosure um which is going to be the micro strategy of asia that's a fun thing but i mean the stock market where i have to let you go i know but the stock market loves it so just made a new all gapped up to a new all-time high for the s&p uh while we were

talking as it did in 16 remember remember the world was going to end when we all went to sleep and Trump had won and Paul Tudor Jones was it Paul Tudor Jones? No, Druckenmiller. Druckenmiller, who said I was short going in, but then I changed my mind and I went long

and it gapped up like 2.5% overnight. He made a gazillion dollars as Stan always does. But I think this is the relief rally on uncertainty being gone. I mean, you said it yesterday. No one was sure who was going to win. I mean, it was really, I did the polls. I have two groups. I

have, you know, my legacy, Morgan Creek Capital Management Group that we meet on Monday mornings. And then Monday afternoon, we meet with the Morgan Creek Digital team. And I did two polls, and about, you know, seven, eight people on each poll. One poll thought massive Trump sweep. The other poll thought a landslide Harris win. Wow. I mean, it's like really interesting. And so there was a lot of, there were a lot of people who were convinced of their own position, but really no one was certain.

And I think now that uncertainty is gone, we have certainty. And actually, we don't have to worry about it for the next three weeks, changing it. Anyway, I think markets will do well in the short run. And look, I did a podcast on this last week. They said, well, what's going to happen? I said, well, look, in the end, Bitcoin and digital assets, doesn't matter who wins, number go up. Why?

Because dollar are going to go down. And that's all it really is. Remember, one Bitcoin is one Bitcoin. Bitcoin never changes. It's how we value it in a currency, a base currency. So in Argentina, number doesn't ever go down because the peso just keeps going down. Or in Turkey, the number go up because the lira goes down. So the same things happen with the dollar and the yen. The yen, that's why I love Metaplan.

The yen, forget about it. It's going down, down, down, down, down. Euro going to go down, dollar going to go down because the only way out of these massive debts is to print. So that's really good for digital. But short term, Kamala, bad for crypto short term, we would have had probably a $10,000 sell off, but long term better because she was going to keep the cult of Kelton alive. The Donald, definitely better in the short run. But now I think we'll probably give some back there'll be another entry point before we take the big leg up but the big leg up is coming mark thank you so much really appreciate you being here uh this morning i'm sure you're gonna have

a great day awesome thanks thanks for having me and again kismet brought us together on on this exciting november 6th It was a good how. Guys, go follow Mark Yusko on X and everywhere else. Check out everything he's got going on. Absolute legend. Thanks again, Mark. All right. See you, Scooter.

I love what he calls me, Scooter. And guys, now, if that wasn't exciting enough, we have some bullish charts to show you, I'm assuming. We got Chris Inks, of course. We kept you 10 minutes in the wings. I'm sorry, but look at that Bitcoin candle. It's worth the wait. It's, you know, a lot of people, again, over the last, you know, eight months or so have been talking about how top of the cycle and, you know, a whole bunch of silliness like that. The longer we went sideways, as we've talked about here before, the more convinced people became because that's what people do.

When it doesn't go up right away, they start getting scared and thinking maybe they picked the wrong direction. But, you know, again, you know, we had the this August 5th dip down here where everybody was thinking, oh, my God, the yen carry trade is imploding and we're going to hell in a handbasket. And then, you know, it was overnight that Sunday night, Monday morning, though, back up. And it just kind of has kept on going since then. So, you know, we took out the last lower high there off this bearish market structure, which broke that. Then we broke out above wave X here because, again, three waves down, three waves up, three waves down. Gives us a fourth wave there at about a 38.2 retracement. And so, you know, we're looking to go long, right? And so, you know, the one thing I've been talking about a lot here was that we would get likely a

run up and test the swing high here and pull back before we go. I did expect probably a bigger pullback. I was thinking we might get down here around that 60 to 62,000 area. Clearly we didn't. Now that doesn't mean that it's just all up from here. Locally, based on the height of this pullback right here, we've got about a 78,000 or so, 78,100 kind of target area uh which doesn't mean that's where it has to stop but that's just a basic pattern target that we use based on uh you know how far it pulls back so i mean we've got at least that probably coming in uh and so you know we may end up seeing is this move up here and then a pull back down toward this daily pivot. That's right there around 67, 635 or so before we get, you know, an even larger, more impressive

kind of push higher. We are coming up here off this hidden bullish divergence down in RSI here. This is the daily. So, I mean, everything looks really good. Everything is what you want to see here on the daily. You've got great volume, nice large candle, breakout. Like I said, hidden bullish divergence here, stochastic RSI just now breaking out of oversold. So I mean, everything's primed for a good move up. But, you know, the one thing I told people was, you know, when we were here and we did the pullback here and even here, I said,

listen, regardless of, you know, what you think may or may not happen, you want to be long because, you know, even though we expect a pullback, once we test the area, which we did get a small one here, um, you know, the price could just barrel on out. So don't try to just wait until we get up there and hope you're going to buy the breakout or something. You have to plan more accordingly on these pullbacks. And so, you know, if somebody has done that, then they've done well. They're pretty happy after last night. And I think, you know, overall, we continue up now based on the height, again, of the pullback, right, of this wave four here. We've got a pattern target up here of around just around, what is that,

94,995,000 here on the Bitcoin all-time index chart. But I do believe that we'll be, you know, taken out above 100,000 overall and continue up higher. But just a simple kind of, you know, if you aren't in yet and you're looking, man, do I get in? You know, this is usually something we'll look at. We'll look at the pullback and the height based on that for that target.

And it gets you a starting point at that point. Then now you're like, OK, well, at least I'm in. Right. And you can adjust your position or add into your position, you know, as you get another pullback along the way or something like that. So, man, I like it. Everything. I don't know.

Were you watching the chart yesterday when when the election was going on? Like everything. Of course. yesterday when uh when the election was going on like everything of course i mean everything was flying when it became even close to clear that uh it was going in his direction i mean by 7 p.m things were flying right i mean eight maybe uh but uh i mean what a candle and interestingly a lot of altcoins outperformed bitcoin kind of on this move, but Bitcoin dominance still rising. But I think that's just because ETH still is sucking. Well, it's so heavily weighted.

And how long will it continue to suck, right? Because you know who you are. Oh, God, dude. I've been saying, I mean, you know me. I think, well, at some point, once Bitcoin establishes this new all-time high and settles, I think that'll be the time. Yeah, yeah, exactly. And I mean, right now the count still is bullish and, you know, we've got this nice impulsive breakout and close. Well, it looks like we're going to close here above the daily pivot. I mean, this is, again, just like Bitcoin, nice candle. Get ready for that rally there. I believe we have, let me see here no that's lower lows okay i was gonna see

if we had some bullish divergence there we don't but you know breaking through here if we can get above this swing high this interior swing high here at uh 27 19 and 30 cents here on the cracking chart um that gives us a minimum expected you know local wave three up here at 35 38 uh or so and then the larger degree wave three minimum expected target there at 4,017. And then we're looking, this is three and four. We've still got this, you know, much larger kind of move, which has a minimum, you know, it's got that pattern target that we were just looking at Bitcoin for its wave four up here at around 65, 48. Again, these are just kind of minimum targets that we expect as we play out.

The likely thing is that, you know, it'll overextend and we'll get higher targets on them. But, you know, again, everybody's very negative. You and I've talked about this multiple times throughout the last few months here with Ethereum. Everybody, oh my God. And everybody's like, oh, but look, Sol, Sol, Sol, which is great because I got a Sol chart here as well. But just because Sol's doing well does not mean Ethereum cannot also do well. And I think that's where people are getting caught up on there. So if we jump over here to Solana, again, my big macro chart here. Again, nothing here, nothing surprising. Here we are breaking out of the descending resistance. Uh, again, based on the height of this pullback, we've got a pattern target up here of $315.

Um, but I think we'd probably end up hitting 410 at least, uh, you know, if not pushing out higher again, the idea that we'll probably overextend, um, some sort of blow off top or something like that by the end of it. But you know, where we're coming up on $200 again with Solana here, just had that sideways. We had to deal with, right?

Yeah. I mean, everything looks, I, it all looks good with it. Here's another one link. Uh, everybody's,

uh, really quite negative about link right now. Do something. Poke it. You know, here we had this great now do something poke it yeah you know here we had this great accumulation we had the spring here you know sell everybody to buy around that five dollar if we could get it uh when we were up here saying we're going to drop down we got it you know rallied up here to you know almost 23 we've pulled back this is this is three waves

right here and so you know technically a breakout above this point here at $19.22 should give us this wave three target up here at $100, $101. You know, and so locally here, though, locally looks like like most of the alts and even, you know, Bitcoin potentially. We've got this leading diagonal off that August 5th low. And so I'm looking for maybe, you know, a target of around $13.59, maybe $15.46. And then we should pull back here and then, you know, head on off and then start working our way up again. So, you know, even link is not looking bad at this point. Even link. I love the way we have to talk about these things. In every cycle, right?

Every cycle, we talk about the same general thing, just a different coin, but the same kind of, you know, the way people look at it. But I've got Tao here as well. This is one. I can't remember when I did this. It might have been on Always Friday Show, my Friday stream. I said, we were looking for a drop toward the S1 pivot and then a rally. It's exactly what we got here.

We got a nice little lower wick down at the bottom, then bullish engulfing candle, and now some really great volume. Large candle spread on the breakout through that descending resistance. Impulsive breakout and close just overhead here at the daily pivot. What is that, around 544? If we can do that on the daily, close above that because we've got this nice impulsive breakout happening. Again, based on the height of the pullback, wave 5, target at 944, which puts us right around the EQ of this supply here.

And 944 is the R4 pivot. We could definitely hit up above that, but just, you know, uh, a starting point as far as the target goes, again, that that's where we're kind of looking at. Um, let me see here. I've got AVAX. AVAX is looking good here. Again, another, looks like a leading diagonal happening here. We are just now trying to break out above that daily pivot. Just getting going here on the oscillators, heading up. We're looking for a breakout above, what is that right there? $29.86 to add some confidence to this count here.

But once we do that, minimally, I think we should see wave five of one hit this $32 and 22 cent target. But I think there's a good chance we may even see a push up higher here toward $37 and a half dollars or so. So we'll just have to see if we get that real, you know, if we just kind of get rejected just a bit higher, if we actually get that thrust up and through it. But you know, again, you're going to want want to whichever one it is you're going to want to look at buying that pullback because then you've got that wave three heading up you know 50 somewhat dollars or something like that uh minimally depending where it gets to there so avax looking good like these moves are huge but these things are still so much upside yeah yeah flies i mean exactly exactly you know it's it's you know

it's this idea that we've been going down for instance you know avax here has been building a wave too as a flat correction here since uh since december 24th of 2023 so for almost a year it was doing this till we got to august here and now it's finally starting to make its move up so yeah you know people just get kind of stuck in the, oh my God, we're still pulling back or, oh my God, we're going sideways into the world, um, kind of idea. But this is why when you understand structure and you understand, um, you know, ways of forecasting, you know, I get a lot of, um, heat sometimes about Elliott wave and people like, oh, I don't't like that because you can make it say whatever you want. Well, yeah, you can, but if you're using it properly, you can't, right? It's like any other skill. You learn to use it. Yeah. You got to follow the rules and you got to have...

Elliott Wave takes time and practice and you're still not going to always get it right. But as far as forecasting goes, it's one of the absolute best methods there is. Now, there's also, you can use point and figure charting the way that Wyckoff used it, and then that'll do great with targets as well. So there are ways to actually forecast price action, even into areas of blue sky territory, right? Where you can get pretty significant, pretty correct, you know, targeting on that. You know, it's just things that you have to on that. Um, you know, you just, it's just things that you have to learn along the way, right? Uh, once you get past all the, you know, all the naysayers on social media about, you can't do this and you can't do that. And,

you know, markets are random and whatever, which they aren't. Um, but once you get through all that and you start actually really studying these things that have been around for a hundred years, um, you, you go, okay, yeah, yeah, yeah. There's a way that we can actually do this. And, you know, again, it ends up giving you great returns. Stop trying to make a million dollars overnight, right? I mean, we'd all love to, but, you know, look at it, look at trading as a long-term. Yeah, for sure. So yeah, one more up there. Yeah. I guess I'll throw KRL here. We did a sweep here of the lows. We're finding support right here Yeah, for sure. Sohour return on your trade there. It'll give you 10 times your risk. If you're a little bit more risk adverse, you can wait for

the impulsive breakout and close above this descending resistance and or above the daily pivot there at, what is that? About almost 35 cents. But my thought is 50 cents is not the top. That's just, you know, this local target I'm looking at the moment here. But, you know, if you can get in, you know, down here at the lows where you've got a stop loss pretty close, all of a sudden, you know, that's just a 50 cents. If this thing comes up here, we'll say it's about that area there. I mean, all of a sudden you're looking at 45 times your risk return there. So if you're risking 1%, if that hits your stop loss, and you lose 1% of your portfolio value, and it goes up, and instead it

goes up here to whatever the target is $1.08 and a quarter or whatever, well, you're going to make almost 45% on your portfolio, right? So if your portfolio is 10 grand, you'll make 4,500 bucks on this one trade, risking just 1%. Risking just 1%, right? Just $100. And that's the correct way that people should be looking at trading. Everyone wants to look at their absolute dollar return. No, look at how much times your risk is your potential return. Right. And, and that's what you're looking at because that way, if you're doing your risk properly, then, you know, when you lose, cause you're going to lose as a trader, there's just no

two ways about it. Right. You're going to lose. Um, but you're going to lose very little. And so you got a few of these trades setting up and this thing over time, it just, it kicks in and you end up so much further ahead than trying to chase oversized, over leveraged positions, uh, where your stop loss because of your oversized, your over leverage is like $10 below your entry to liquidate you. Right. Um, and you get screwed

that way. So, you know, it's not just about how do we trade, but it's how do you approach the markets? How do you approach trading in general? Um general that really is going to do a lot more for your good as a trader than a lot of the other things that people talk about? So listen, I know that's all the charts, but now Trump presidency versus Harris presidency, I think it's pretty clear. I mean, do you see this recession and depression and the 400 year cycle and the death to Smoochie? I don't know what the hell, all, you know, the recession that never was like, are we pretty much clear skies here for markets? Yeah. Yeah. I think we should be good. Um, you know, through next year, uh, usually at least

since 2004, uh, the year after the presidency, uh, or after the election, the post-election year, usually at least since 2004, the year after the presidency or after the election, the post-election year, I think just about every time has been positive, sometimes more positive than others. But generally speaking, you don't have primaries, you don't have midterms, you don't have any of that nonsense, all that uncertainty. And so markets, you know, again, as usual markets left to their own devices tend to trend, you know, to the right and up. And so you don't have a lot of headwinds coming in, usually the year after the election. So it leaves it open and, you know, number go up. I think, you know, I think if you're listening right now and you're thinking about trading and you're looking at crypto or you're looking at stocks, I think this is an easy year coming up. Just don't overtrade,

don't overdo it. Don't put your stop loss right up under your entry so you get wiped out just because you're scared to lose a little bit of money. Learn proper risk management and I think you can have an absolute killer year coming up. Yep, absolutely. Wow. Well, today we can absorb everything that happened. Like I said at the beginning, I'm just glad we have clarity. We don't have to debate it anymore. Now we can talk about what is instead of what could be. So guys, you can follow TX West Capital, of course, on X. Chris, thank you for everything that you do and for generally being right. I mean, here we are. I kept saying it in March and April. I was like, tops in. See you guys in six months. It'll be an all-time high. Go fall on your head. It doesn't matter. Here we are. You know, it was March and April. I was like, tops in, see you guys in six months. It'll be an all time high.

Go fall on your head. It doesn't matter. Here we are. There we are. Right. Not that hard. All right, guys.

Follow Chris. I got to run. We got spaces coming soon, man. Thank you. Be sure. Let's go.