The Wolf Of All Streets - This Is The BIGGEST THREAT To Crypto! l Here's How We Stop It!

Episode Date: November 8, 2023

The US government is the biggest threat to crypto, but there are people and coalitions working tirelessly on our behalf. Kevin Trommer from DCTA will tell us EXACTLY what we can do to protect ourselves. Kevin Trommer - https://twitter.com/kevin_trommer Chris Inks - https://twitter.com/TXWestCapital ►►TRADING ALPHA READY TO TRADE LIKE THE PROS? THE BEST TRADERS IN CRYPTO ARE RELYING ON THESE INDICATORS TO MAKE TRADES. USE CODE ‘2MONTHSOFF’ WHEN VISITING MY LINK.  👉 https://tradingalpha.io/?via=scottmelker  ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEK DAY! 👉https://thewolfden.substack.com/   ►►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  ►►THE DAILY CLOSE BRAND NEW NEWSLETTER! INSTITUTIONAL GRADE INDICATORS AND DATA DELIVERED DIRECTLY TO YOUR INBOX, EVERY DAY AT THE DAILY CLOSE. TRADE LIKE THE BIG BOYS. 👉 https://www.thedailyclose.io/   ►►NORD VPN  GET EXCLUSIVE NORDVPN DEAL - 40% DISCOUNT! IT’S RISK-FREE WITH NORD’S 30-DAY MONEY-BACK GUARANTEE. PROTECT YOUR PRIVACY! 👉 https://nordvpn.com/WolfOfAllStreets   ►►COINROUTES TRADE SPOT & DERIVATIVES ACROSS CEFI AND DEFI USING YOUR OWN ACCOUNTS WITH THIS ADVANCED ALGORITHMIC PLATFORM. SAVE TONS OF MONEY ON TRADING FEES LIKE THE PROS! 👉 http://bit.ly/3ZXeYKd  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.

There is a growing threat to crypto that most of you may be aware of, but you may not be aware of the extent. The good news is there's definitely something that we can do to help fight it. I've got Kevin Tromer today here from DCTA to tell us exactly what we can do to push back against the government, which is pushing back against crypto. You guys don't want to miss this. Let's go. 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 the like button right down below. There has been a major uptick in rhetoric from the United States government against crypto, and it's starting to actually concern me. You know that generally,

I'm a grass is green, skies are blue, lovely day, no matter what, everything's going to be fine, optimist. And I've basically been dismissive of the United States' efforts against crypto, but it is curious the manner in which they're now using this fake news about Hamas to continue to push agendas. Regardless of what's happening in the very short term with that story, there are actually things that we can do to help push back against the massive overreach by legislators and regulators in the United States. Now, you may not have seen my thumbnail today, but since I'm now my own producer for now, I told them, hey, just make Elizabeth and Warren and Gary Gensler look really evil. So I guess I didn't leave it too cryptic as to what the biggest threat to crypto is. If you guys haven't been

checking out my new thumbnails, they're horrible for engagement and clickbait, but we all know that I don't care about that. I just think they're funny and really great to look at. And that's why we do them. So I hope you guys are appreciating that. I'm going to go ahead and bring on Kevin Tromer right now from DCTA. Yeah, you're like a unicorn. I think you're the first lobbyist we've ever had on the show. Oh, it's an honor, Scott. Thank you so much for having me. Before we start, I just want to say I really love that thumbnail. I thought it was really funny. We could have put your face on there right next to them. Please don't. I'm sure that will come back and bite me in the butt later. I'm sure. So listen, go ahead. Yeah, go ahead. I'll say my name is Kevin Tromer. I'm the deputy

director of the Digital Currency Traders Alliance. I've been a lobbyist for 10 years. I focus mostly on education, education, equity clients here in the state of California. But I also have the unique advantage of being one of the earliest crypto investors in politics within California. I've been a crypto investor since 2013, right when Coinbase launched. I actually used to do all my calls for politics on a computer I used to mine Dogecoin and Ethereum with. So yeah, it's a pleasure to be here. We always get jealous. I got in in 2016 and I'm like, damn, those 2014 guys. And the 2014 guys are like, those 2013 guys were so lucky, right? So I hope that you held on to

all that doge through the entire cycles. My worst story, my wife reminds me of... Yeah. Yeah. My wife reminds me every day of all the doge I traded that I could have held. I think we did the math once and it would have been worth like $40 million and I made like nine grand in a bag of Skittles or something. We all have to learn our lesson eventually. I remember when I first started trading, I think I lost five Bitcoin learning how to trade. Unfortunately, it wasn't that much money at the time,

but it really hurts looking back at that now. Yeah, that's a big hit at this moment. But listen, let's get to the topic at hand here. I want to walk everybody through what's happening really quickly because this this story came out yesterday. And to me, it was a real head scratcher. Congress must aid fight against illicit use of crypto, Treasury official says, as the Deputy Treasury Secretary. And he basically said the Biden administration needs more emergency immediate powers granted by Congress to fight against crypto because it's being used to fund Hamas terrorism. Okay. But just to give a really quick context, we all know that this stems from the

Wall Street Journal article, Hamas militants behind Israel attack raised millions in crypto. Then Elizabeth Warren and 105 other congressmen and senators, I think three or four of them are Republicans, the rest were Democrats, all signed a letter about this. But then very quickly, we saw that Elliptic, who the research was based on after Chainalysis just debunked it, said, this is just wildly untrue. It's not tens of millions of dollars. It's like $25,000 and a rusted old nine iron that has been sent to Hamas via crypto. And we thought it was over, right? Fake news. We knew that the politicians weren't going to retract, that we would never hear them apologize because that's not what they do. But then we had very actually crypto-friendly Senator Lummis kind of

double down on it, right? And that was surprising. She said, we need to crack down on Tether and Binance because they're being used to fund terrorism. I interviewed Palo Ardoino last week. He was like, we work with law enforcement every single retracted and apologized, even though nobody saw it. And we're still seeing. So was this made up so that they could continue this fight? Are they so oblivious to the actual facts and news that they think this is true? I mean, what's going on here? And why are they pushing so hard on this narrative? So I think they're really doubling down on the same narrative they've been pushing for a while. One of the things we do at DCTA is try and educate policymakers about, you know, about some of the fun we hear in the industry and trying to debunk that. And to me, this is kind of just a recycling, rehashing of the same sort of tired narrative. First, we had the energy

consumption, then we had money laundering, then it was back to energy consumption, now it's terrorist financing. And kind of like what you said with that chain analysis, you know, debunking that data. You know, when I go to crypto compliance symposiums and conferences, we have people from the FBI, from the Secret Service, from, you know, the IRS. And they all say that, you know, they have a really good relationship with crypto companies. And they have, you know, it's very productive for both sides. They're able to identify bad actors. And when we look at chain analytics, if you have to pick one type of medium for financing terrorism or money laundering, crypto's not it. It's really terrible because all the payments are traceable. And I think that they're hoping that they can demonize the

cryptocurrency, you know, and the sector as a whole to really prey on people's fears and the lack of education in the space and just hope that if they keep on barreling ahead, people will believe them. Right. So there's two issues there in my mind. I think you're 100% correct. This is just yet another attack from the anti-crypto army. They'll take literally any tidbit they can, try to explode that into a much bigger story and utilize that FUD. But when they know it's fake, and we know they know it's fake, but they're asking here for emergency powers from Congress to crack down on this, what are they actually going to use those powers for? It's one thing to fight this battle in the

media, as you described, but it's another to then take more power over the industry using that news. And it makes me wonder what the end game is there for that power. And I'm not like a tinfoil hat guy at all, but there's clearly a motivation here. When you actually take it to asking for a change in policy, it's different than just saying, ah, this is cool. We can, you know, use this story in the media to create sort of FUD or, you know, negativity around the space. Yeah, I've actually, you know, that's a great question. I was recently reading a book called Blockchain Government that talks about blockchain uses within government. In the introductory chapters, I'm going to butcher

her name, but so I won't do it. But look it up. Great book by a South Korean researcher. She talks about how governments are really threatened by the idea that they can't control crypto. And as it becomes more and more mainstream, they're increasingly grasping at straws to try and figure out some way to at least exercise some sort of control over it like they can with the internet. And so I think that, you know, this, this call for more powers might be in line with that. And I don't, you know, I guess putting on my, my own tinfoil hat, I've had my own thoughts about, you know, is this really a way for, you know, for them to eliminate some of the clear the way of the actual industry actors right now and pave the way for Wall Street entities to come in? Yeah, I don't know that one way or the other, but recently the Department of Justice, and I think you might talk about this later, issued a calling for the IRS to have better surveillance over cryptocurrency and being able to actually seize cryptocurrency out of people's wallets without being able to sign off on that. No judge at all which which i believe in the article it says itself it says that between 20 to the year 2000 and 2019 this administrative forfeiture made up

75 percent of all the forfeitures the doj went after which is an insane number to think about that means that they just signed a paper without a judge signing off on it and they're able to get 78 percent of these seizures uh just from them saying that we have a need. And there's really no checks and balances there. And to me, I know it's not technically illegal, but it's certainly immoral. Yeah, it is that story. Expect new IRS crypto surveillance to come with a surge in confiscation. So clearly, there's a lot of things sort of happening behind the scenes here quietly that are only making it into crypto media that are a major threat, at least for Americans in this space. I mean, to be able to seize your crypto without a judge

ever deeming it appropriate is literally insane. I mean, that's so far beyond democracy or freedom that it's... I mean, that sounds like China. And I'm not trying to be hyperbolic, but that sounds like China. We're coming for your crypto for whatever reason we deem appropriate. It's kind of like the restrict act, right? That we saw there for a while that seemingly just disappeared into the news cycle. They just want the ability to control this thing. And it's a real shame because we all know that it's really just pushed off. It's really hampering the industry in the short term because long-term we know that blockchain is going to be around. And, you know, even in this book I was just reading, you know, they really talk about how any time the government's going to be a little too restrictive or oppressive.

Since we're not we're not confined by a state boundary, we can just go overseas. And so what we see as the end result is American consumers being harmed. We see that American innovation is being hampered. And we're just really increasingly being uncompetitive in the space vis-a-vis the rest of the global stage. So ultimately, these politicians are shooting themselves in the foot and our country in the foot. How do they not see that, though? How do they not see? So it seems that that has to be into either they utterly just don't believe at all or that's intentional i don't understand i mean they're doing the same

thing to ai yes i think it's a combination of both um i think on the one hand uh politicians are really focused on the next election cycle their biggest fear is losing their job which is why we have a lot of power as consumers and american voters that's one of the things we try to do is organize consumers and really get them to exercise their voice. But I actually saw a really interesting thread from Justin Slaughter of Paradigm Capital, I believe. He talked about how, I believe he's an ex-congressional staffer on the Hill, and he talked about how the Biden administration really ceded a lot of control of domestic policy to the aggressive

wing of the Democratic Party, whereas the foreign policy was really ceded to the moderate Democrats. And the Democratic Party is not monolithic. You have a lot of different factions in there. And I have seen this a lot of these domestic attacks coming from the progressive wing and folks like Elizabeth Warren, who really don't believe that crypto should exist at all. I thought there was a really great interview, I think it was two years ago. I don't know if it was 60 minutes or not, but they asked her, hey, look, if cryptocurrency is completely fixed in the future and we eliminate all the issues, would you ever accept it for campaign contributions? And she said, no, I would never do that. So clearly she's biased. She claims to be protecting consumers and their interests,

but she really clearly is not. Protecting big banking interests, maybe. I don't know. Speculating on why they're doing it, I guess, doesn't really help very much. And we've seen, actually, the United States government, I think, cracking down massively. There was this notion that the CFTC was the better regulator for crypto and that the SEC was evil. We actually now have this report that this crypto's bromance with USCFTC may be one-sided. They've actually had far more enforcement actions than the SEC. And I saw that actually they had this sort of like passive

dunking on Gary Gensler. And there's been this kind of like internal battle, but it seems that we're not going to get much regulatory clarity and all the regulatory agencies at this point are pushing back against the industry. Now, to be fair, there's a lot of bad actors in the industry that need to be punished. Absolutely. I think, you know, it's a real shame because 99% of the actors in the industry are good actors. They want to be compliant with laws and regulations. Unfortunately, there's not a lot of regulatory clarity out there for them to follow. And the actions of a few bad actors do taint the rest of the industry. And we've seen that, you know, very much, very much with the Sam Dakin free trial and the follow around there.

I do believe that the Biden administration is exercising a lot of pressure on some of these regulatory agencies. One of my board members is actually one of the founding members of the CFTC. And actually, it's a consumer Financial Protection Bureau, excuse me. And he has a little bit of unique insight in between the actions between CFPB, the CFTC, and the SEC. It's all a bunch of alphabet soup. But it's really funny how the three are dunking on one another. And we actually got him, we launched earlier this year with a Stop the SEC

campaign, and we actually got a great quote from him being like, you know, the SEC is out of control. This is ridiculous. And they need to stop. We've been using the, I think you've actually used very similar language, Scott, about how the SEC is harming investors before the fact through inaction, and then after the fact through overreacting. And it's a real shame because we get shot in the foot both times. It's real, you know, real consumers are seeing real damages there. Yeah, they don't protect anyone. Then they hurt you moving forward because they passively deem things securities. And then the price of the assets you are holding goes down. And then you get the full on like minority report where they try to pass legislation and stuff to identify bad actors of the future, which I said, it's kind of doing it to AI right now, too. So I think it's more of the gerontocracy's fear of new technology, even in being unique to crypto as I see this happening. But okay, so we know what's happening. We know the anti-crypto army is in control of the financial side. Warren is the chair of the Senate Banking Committee. We know that it's her plants at the White House and Gensler that are all kind of working for her. All that said, is there anything citizens of the United States can

actually do to help here? Or are we just lemmings who are going to get pushed over and bulldozed by this? You know, I think that's the common narrative, but I think that's a false one. I think there's a lot of things we can do as American citizens. You know, my colleague who I co-founded this with, I likes to say that the biggest injustice against the American people has, you know, been the idea that our voices don't matter. But when they truly do, like I said earlier, the American politicians, our biggest fear is losing their job. And we have, I think it was, you know, over 40 million crypto users in the US. That is a substantial voting block that can really make a difference when it comes to elections. A lot of times Congress, congressional representatives,

state representatives, they feel that they can act with impunity because they don't have any accountability. And that's why it's really important to contact your congressional representatives, contact your state representatives, not only to say, look, you know, we support this bill or that bill, but to actually set up meetings and ask to help educate them on the subject. That's one of the things we do at DCTA is we actually offer a lobbying 101 course where we help everyday consumers become activated to become consumer advocates and crypto advocates.

We teach you how to, you know, set up meetings. We teach you, you know, meetings. We teach you exactly how to compose yourself during that meeting, where you can find specific contact information and become educated about how politics work. Because we think that our biggest champions and biggest advocates in the sector come from everyday Americans, everyday consumers that are really pushing back and saying, look, if you're not going to do anything, I'm going to be harmed. And I'm not going to vote for you at that point. And that really spurs them to action.

I think that one of the things that Congress really needs to do is come out and set up a framework for regulating cryptocurrencies. I'm not holding my breath due to the recent gridlock, but I think that's a big deal. And that's why one of the things we do at DCTA is we focus on the states as well as the federal government. We've actually found that even though the SEC is really unfriendly, at least at the leadership level with the current regime, because on an aside, I've met with SEC, you know, make and file staffers who really do like cryptocurrency.

But we see at the state level that some of our financial regulators, they're really like cryptocurrency. They want to make a friendly environment so that way crypto companies want to come to their states. I know in California where I'm based out of our Department of Financial Protection Innovation there. I don't think she's there anymore. She had to retire. But their ex leader, the head of their department handling crypto, used to mine Dogecoin back in the day. And she, you know, she would really she really understood. She really got the promise of the technology. And that's why if you are able to put pressure on politicians to get them to either vote for pro-crypto legislation or to actually help influence the appointment of certain officials, that can make night and day difference in the sector and its overall health. Yeah, it's amazing. Yeah, I hear that. And the jaded American side of

me says they literally only care about their jobs. And they don't care about what they say, believe in do or whatever, they just need to get reelected. Yeah, well, and that's, and that's why it's really important that once they're on the record, we have to hold them accountable. One of the things we're going to be gearing up and launching actually on 2024 is a big get out the vote campaign specifically for cryptocurrency consumers. And part of that is we're going to be vetting different politicians, political candidates, getting them on the record where they stand on the cryptocurrency. And, you know, at the end of the day, we have to have a little bit of faith. But I can tell you that if we get them elected and they renege on their promises, then we're going to kick them out.

Wasn't Coinbase doing a similar initiative, actually? There was a part of their website where you could go and kind of see the position of different politicians and they were going to do the same kind of thing. Are you guys working with them on that? Because very cool initiative. Yes. No, we love that initiative. We're not working with them right now. We're actually reaching out to try and connect with them. You know, we think that a lot of these efforts are really complementary. And the one thing that we have going for us, I know they have their Stand With Crypto campaign.

But when you look at politicians, especially in the various state capitals and national capital. We are a true grassroots organization. We're all volunteer-based right now. And there's a distinction that is seen between a group like ours and a group like Stand With Crypto, where I believe 50% of their funding came from Coinbase itself. Even though they claim to be separated from that initiative, it still gives the appearance that they have undue influence on that campaign. And I'm not saying that that's true. It's just the way that politicians will infer from that sort of contribution history. So as a lobbyist, what are the biggest challenges that you're seeing? I would have to imagine that, especially in the Democrat Party,

there are actually a lot of politicians and legislators that are quietly fans of crypto that are afraid at this point to speak out. And we saw even before the anti-crypto army was raised, basically a year ago this time or almost a year ago, we used to see a lot more of them speaking on it. Now it seems like after FTX and after that effort, they've kind of gone silent. Is it like for them, it's just politically very dangerous to speak out in favor of crypto at all if you're going against, you know, the anti-crypto army, as I use the Elizabeth Warren? Or are they actually now afraid that because of FTX and the collapses, they could be politically unpopular? Or are they just kind of biding their time to see where this is going to shake out for the next election? I think they're biding their time to see where this is going to shake out for the next election? I think they're biding their time. I know that I've spoken with some of my congressional representatives in California. I had one recently with my own specific rep who I have the ability to vote for next election cycle in Pasadena. And she told me that she, you know,

didn't know much about cryptocurrency. She didn't want to necessarily opine on something she didn't fully understand, which really told me that there needs to be a lot more communication. And then she also deferred to folks like Maxine Waters, who have more of the authority and control within the Democratic Party over some of these bills. She has purview. And one of the things I've been doing, I found this to be a big challenge, but to me it comes down to messaging. We see that Republicans already really understand the sector through the cryptocurrency lens. And one of the things I've been doing is meeting with different Democrats and talking about, look, cryptocurrency is just one aspect of blockchain technology. Blockchain can be applied to a number of different sectors, and the Democrats are really missing an opportunity to weigh in on

the promise of blockchain. When I met with my own representative, I told her, look, you know, did you know that you could put, you know, police reports on blockchain, you know, tamper proof? Did you know you could have government accountability on blockchain? Did you know you can improve the healthcare system by putting, you know, records and patient information on blockchain? It's highly secure. It can't be tampered with. And she told me, no, I never knew that. I thought cryptocurrency was cryptocurrency. So one of the things I've been doing is trying to change that narrative with Democrats and talking specifically about how blockchain technology can help improve government and help improve the business opportunities with their own districts. And that seems to be getting a lot of traction and leeway. You talked about a program to basically teach us all to be lobbyists. How does that work?

Yeah, so we have different lobbying one-on-one pieces, legislation in every state in the country listed on a convenient map so that way you can see what cryptocurrency legislation may be, where that might be in your own state, and we'll help you provide tools to weigh in on that. We also sometimes announce them on our Twitter, DCTAORG, but we also actually have a YouTube channel that we've been that you can find on our Twitter handle as well. And that we actually have recorded courses there. So we started with the simple ones like, you know, how does a bill become law, you know, how to how to really communicate with legislators. And over time, we'll be adding more sophisticated courses. But honestly, we also really work with folks, We have different state affiliates and we

work really closely with our affiliates and train them how to contact lawmakers for those who want to be more involved. We help them draft legislation. One of the ones we're drafting right now is a right to access crypto bill we're doing. It's going to be launched in Montana. Hopefully we have a few users there who've said that they've tried to buy cryptocurrency and they've actually had their bank shut down after they bought it through their bank account, which is just ridiculous. So we are trying to be very open and friendly. As someone in California, I know how California is viewed and much of the rest of the nation. We don't want to be people telling you how to do something. We want to teach you and give you the tools that we've learned over the last 10 years of being lobbyists and help you get your own start on becoming, enacting the laws and

policies that you think work for your state. And you mentioned before, obviously, we have gridlock in Congress. It's somewhat broken, but there were a number of bills passed through committee, Patrick McHenry, of course, supporting and kind of pushing them through. Is there any chance for any of those under this administration or Or is it kind of now they were statements, we're gonna watch and wait. And maybe if there's regime change or something, we start to see actual movement on those. You know, I'm normally a sunshine and rainbows type of person as well. But right now, I don't really have much hope of that. I know that the stable coins bill passed after bipartisan support. And I know there was a number of issues with that as well.

But then, you know, you had bipartisan support and the Biden administration came in and said, hey, we didn't like this. And same with the FIT Act, which we supported. So I don't really have too much hope, but we have been getting a lot of positive impacts at the state level. This year alone in California, we sponsored a bill that was going to enable crypto blockchain education, blockchain curriculum at community colleges, actually got all the way to the last step for the governor's desk with unanimous bipartisan support. Unfortunately, there was no funding there because we're in a budget crisis right now. I know that and we had another bill in California, AB39, which created a licensing structure for crypto companies. And as much as they tried to make sure that it wasn't like a bit licensed in New York, a lot of people were very afraid. And this is one example of how everyday consumers can make their voice heard.

We reached out to the author and made sure that it had special exemptions for NFT projects. We made sure that our crypto friendly regulators had final say on what regulations could happen. And so we helped avert a potential disaster into, I think, a net positive for the industry. And, you know, we hope to replicate those efforts across the country. Well, Kevin, thank you so much for your efforts. Everybody, you can follow him in the description. I believe it's Kevin underscore Tromer, right? And then joindcta.org, is that correct? Where everybody should go for more information to figure out what they can do. I've checked it out. I've been actually long. I've been long delayed a conversation we were all supposed to have about

me kind of helping you guys because I have ADHD. And frankly, things just get lost. But that's something that now after this conversation, I'm definitely gonna follow up on help you guys wherever it is possible. I do think it's important for people to realize that even if it's not the national level, state level, local level, there are huge things that we can all do to help push this agenda forward and to make sure that we're all safe in the future. So, man, thank you for everything that you do. I know it's probably a pretty thankless job, but we're glad you're out there fighting for us. Thanks so much, Scott. It was a pleasure being here with you.

Look forward to potentially work with you in the future as well. Yeah, we'll do it again soon, man. Thank you. Yeah. As I said, starting to get a bit more concerned with this uptick in rhetoric, but I think a simple voting of them out will probably do the trick, to be quite frank. And that's where our resources should probably be spent. Now that we've talked about the biggest threat to crypto and how we can stop it, Elizabeth and Gary, let's ignore all of that, all the stories, all the news, all the fundamentals, and have some fun looking at some charts because we've been in a bull market here, people,

if you haven't noticed. And if you haven't noticed, now's probably a good time to pay attention. I've got my friend and mentor, Christopher Inks of Texas West Capital here. Man, got my friend and mentor, Christopher Inks of Texas West Capital here. Man, market's still going, huh? Man, I'll tell you what, it's saying, hey guys, right now I'm saying toodaloo, well, anyway, as it continues to ride up there, right? But hey, Scott, you're like me, man. You've been through this multiple times now, these cycles,

and this is generally what happens. And I tried to be very vocal about it before we got to the lows, the bear market lows, though, about how, you know, Bitcoin especially and alts tend to go once you're in that bull market. Right. They they don't give you a whole lot of opportunity to pull back and people wait for it. And like I said, often it's like toodaloo, you know, and it kind of takes off and continues. And so it's like toodaloo, you know, and it kind of takes off and continues. And so, um, it's hard to complain. I mean, you know, last week, man, again, you know, another great week of trade, uh, of trade setups we had last week, Eagle, uh, EGLD, there was, it was the big one. Uh, it's up like 70% since last week's show, but even that crazy one, we mix that, you know, we, we talked about the DJ thing, right? Man, that thing's even up there.

You know, and so it's been great. I've got a couple more that we can look at today and hopefully people will pay attention and do some work on their end to get some trades in. My like, my persisting joke of the last cycle was making fun of one inch, I think for obvious reasons, just because like, why would you call something one inch? Like, I mean, you know, you can tell that crypto is a bunch of dudes that

they would call something one inch, but, and that there's no girls interested, but I think WeMix is the joke of the next cycle. WeMix is a good one. Just because of Princess Bride, now it's just what brings us together today for the WeMix. Yeah, it's too good. All right, go ahead. Yeah, man. I mean, so, you know, Bitcoin, just doing Bitcoin things. And, you know, Bitcoin just doing Bitcoin things. And, you know, it's just kind of continually making these higher highs and potentially higher lows here pretty much within this channel. You can see, I don't know, we can maybe zoom in a bit here. We can see that that channel EQ there is kind of really holding as resistance. So, you know, if we can pop that, we should be looking toward the top of the channel. So, you know if we can pop that we should be looking toward the top of the channel But you know ultimately from a pivot standpoint here

This is a very bullish movement as you come in between the pivot and the r1 continue to push up And so everybody's looking for this pullback here, which is I mean, it's not unreasonable. It's usually what we look for, right? but we have had this sideways now for going on a few weeks here and I think it's quite possible. We know basically we get this this breakup higher toward the R1 pivot, pull back down into this consolidation before rallying back up higher. And everybody sitting down here waiting are going to be left waiting. And part of that reason is the fact that, you know, we went sideways here for almost seven months. So, you know, we've got our first initial push out here

and it's just continuing to consolidate upwards. And usually when Bitcoin does it, if we look at previous cycles, Bitcoin is pretty notorious for this. When it does this, it's usually just this consolidation before the next pop up higher. So, you know, I can't guarantee what's going to happen, obviously, but as long as we continue to hold these lows, for me, it's still higher here. I've repeatedly seen on Twitter X or whatever the hell we call it these days, people calling this a bear flag. Every single cycle, they say it's a bear flag. And you say, if it's got higher highs and higher lows, bruh, it's an ascending channel. A bear flag, guys, has to be descending.

It has to or it is not a a bear flag just for clarity there. Yeah. Yeah. I mean, you know, we're, we're, we're in the trend, right. And we're in the trend and we're continuing to rise higher in the trend. I mean, you know, this is, this is the difference, uh, you know, um, between, you know, actual experience in markets and, and what most of social media is full of. Right. And, um, and I know some people are gonna take that personally and I don't mean it that way, but dang it guys, at what most of social media is full of, right? And I know some people are going to take that personally, and I don't mean it that way, but dang it, guys, at the end of the day, you know, you're coming in here, you don't really know what you're doing, you're trying to learn, you know, and there's just so many half-truths and outrides lies out there, not because people purposely want to lie to you, but just because they don't know any better themselves. People

have found it's, you know, quite lucrative to get people out there to join the exchanges and get the referrals on that rather than actually providing, you know, real real kind of information that they can use. So just got to be careful out there guys. All right. That's why that's why I do this every week here with Scott and you know, do my own live stream and all that kind of stuff to kind of show you that there's a lot more education out there than what you're getting. But yeah, I mean, Bitcoin, look again, look at the stoke rsi down here as well i mean we've we've uh reset it oversold

cross bullishly threatening to break out um on the daily there so yeah yeah and you you would think that the stoke would be topped right now not bottoming after all this movement up but it's it's amazing how indicators you know we always, well, the indicator needs to cool off, price needs to drop. Sometimes it just needs to chill for a minute, right? And the indicator will reset even without the big drop that you think you're going to get. And that's how people continually get left behind in these markets. I mean, as you said, Bitcoin just doesn't play by the rules. You don't usually get that perfect dip that everyone's waiting for when you're in a bull market because max pay is up. Especially when you're waiting for it. Yeah. Yeah. Yeah, absolutely. So what else do we got? I think Bitcoin's kind of boring. We feel compelled

to talk about it because it's the big daddy, but the real action has been in the altcoin market. Every time I say altcoin, a Bitcoin maxi dies in the metaverse, guys. It's true. It's true. It's a fact. The maxis have been up my ass. I'm getting a full maxi colonoscopy lately. Every time I post a chart, it's so fun. Now that I've unblocked literally everyone I had blocked on Twitter just for fun, to be able to respond to the trolls has been just so entertaining go ahead right yeah so um ethereum bitcoin here again the one everybody wants to watch everybody hating ethereum you know um again you know generally in social media they kind of take you know when you don't have a lot of experience you know you take these quotes like buy when there's blood in the streets and sentiment analysis or whatever.

And you don't really understand what that means. But what you're seeing lately with Ethereum and how everybody's kind of given up on it and they're like, oh, my God, it's never going to go up. And it's, you know, of course, it went up from June of last year, whereas Bitcoin had that secondary drop, you know, in November. So Ethereum, you know, was going up before Bitcoin was. But everybody's all, you know, downtrodden about it. But man, you know, it's bouncing right here. This pair right here, where we were looking for, we had a good candle last week. You know, we're just now breaking out of oversold here and trying to on stoke RSI. So I think we're good to go rallying up here. That gives us that minimum expected target of 0.12888 uh up here for that wave three

and as we know if ethereum's running uh against bitcoin then generally alts are doing well right and we're seeing that we got a heck of a green week so far uh with alts as i posted there on twitter or x or whatever it's called these days so um i like. Can we call it Twix? There we go. Twix. Um, this is, um, micro strategy. This is the one I was on your show here, you know, a few weeks back and we talked about it being down here. We've just about hit that target. So, you know, we're looking at their, uh, uh, was, almost 50-somewhat percent rally there over the last few weeks on that. So that one's been a good one. Those of you guys that missed it, I'm sorry. Pay attention more, right?

Yeah, absolutely. All right, here we go. That's absolute blast off. Oh, look at all these charts. Let's go. Yeah, yeah. So we've got AAVE here. I think this used to be LEND, didn't it?

I wouldn't even know, man. I forgot about LEND. What is it. I think this used to be LEND, didn't it? I wouldn't even know, man. I forgot about LEND. What is it? I think it used to be LEND. I think so. I can't even see that. I can't see the ticker. So basically I'm looking for... Oh, no, Aave, maybe it was, but I mean Aave. ...this great accumulation period right here. Yeah, go ahead. Yeah, yeah. So we've got this sideways here from June of last year.

Again, bottom area we're looking at. We're just now breaking out here or starting to. We haven't even really started taking that real move up. Locally, we've got this 1, 2, 3 up here at around 136.40. I think it's possible we could get a pullback down here toward this daily pivot, which is just the top of the range around $78 or so. Just look for a breakdown below this uh ascending support here but should be rallying up higher again wave circle 3 130 um a lot of upside here just to get going yeah it looks great all All these look great. What do you got next?

We've got Ape again. I want to talk about Ape. I kind of talked about it a little bit, I think, last week. It's continued up here. And you know, did you hear they had... Sorry, we were having a connection there. Did you hear they had this Ape Fest? So you have to buy anything that's having a conference, by the way, or a festival.

But then, like, everybody... Oh, is that what it is they used yeah but they used uv lights instead of like normal lighting and it burned people's eyeballs including burb and like people are basically like partially blind now from going to this okay but the coin can go out next one crazy yeah absolutely crazy but apes been that one you know they did the full retrace basically off the huge rally. The NFT thing came back. And we've been looking at it last month or two with you, looking for that reversal. And I think we're here. So we've got a little bit, probably a little bit rally higher up here to about $1.60.

We should pull back down here toward about $1.26. That's that daily pivot. And a reversal off that will get us this rally up here at least to $2.71, $0.72 for that third wave. But again, overall should be the beginning of the rally. This should be the start of the bottom here and just kind of continuing up higher there. And then people go, oh, well, what know, what, what, what utility does it have? Or, Oh, NFTs are dead or whatever people, people have all these things because in their mind, they think something has to do something. And, you know, at the end of the day, guys, price is going to do whatever price is going to do. So if you can get off your fundamental

narrative and your, your biases of what you think, or don't think about something and just look at the charts, learn to look at the charts learn to just read the charts um it's going to give you a lot more clarity and so uh at this point here again i think we're bottom here i think you know we come down we hit up yeah i all these charts are good it's crazy adam we got adam here i have i love adam oh man it's great ladies we have this bit of accumulation here. We got this local accumulation here from September. Come up here with a little spring and we just kind of rallied.

We did great. We got to jump across the creek, back at the edge of the creek, rallying up higher. Again, I think we've got a little bit higher up here to probably about $9.20. We'll look for a pullback down toward this daily pivot. So probably like $7.50, $7.60. And we should be able to get a reversal off that. And if we do, we should get a minimum expected wave three target up there around 14 dollars and 33 cents for that third leg up. And as you can see, that starts getting us up here toward this previous resistance from September of last year. Ultimately, you know, this is just one big kind of range right here.

Right. Something like that. And so, you know, we're kind of just right around that EQ area right there. I mean, you can probably pull it up here if you wanted to. It doesn't really make a whole lot of difference. But, you know, overall, you know, we're working up into this range. So we'll get five waves up toward the top of this range. We'll pull back. And then that big third. So you get, you know, you'll get a one, you get a

two, that big third is going to be the breakout here. And hopefully a lot of people will be in that, but you know, we got a bit to go, but good money to be made. Let me show you a different view on that. Let me show you a different view on that. Cause I was just sharing it the other day, which is this. Oh yeah. Yeah. Breakout and breakout and retest so hard hard not to like that yeah oh man yeah you got large candle spreading volume on that breakout ton of volume nice big candle spread on the breakout now just kind of struggling at the 200 so i you know i don't i'm not the biggest ma guy of late there just seemed to always be on my charts because my default but that does seem to be stopping it and no bearish divergence here on that uh move up with you have seen some on others yeah but that's just a

different view a lot of traders right now you know again they get really um concerned about things getting overbought uh remember guys if it's overbought or oversold it doesn't mean that it necessarily is going to reverse right there overbought just means that the trend is extremely bullish oversold just means it's extremely bearish um and that's where you get caught up in that oh well things can stay uh irrational longer than you can stay liquid but just understand that when you do get overbought or oversold yes it's going to reverse at some point but it especially when you're getting into this bull market with uh with crypto uh it can tend to stay overbought or oversold. Well overbought for quite a while because we're, you know,

in the bull market. So, um, don't just sell immediately because it gets to over, overbought. Okay. Um, let me see here. Oh, Theta Theta was another one here. Oh man. We bring it back. You always bring back the classics. Man. I got to bring them back. Right? We made so much money on theta last time. And again, we've got this bit of accumulation right here, which is, again, just, you know, from what is this August here coming up here again, you get the spring down here, this little dip here, boom, takes off, rallies up. I think we've probably got to break out a bit higher here toward about 91 and a half cents. Um, and then I would look for a pullback either to, uh, if we can get that

rejection and that'll be right here around this large descending channel resistance. Um, I would look for a pullback at least to about $71 or I'm sorry, uh, 71.7 cents or even about 67.7 cents. But the idea is we get a one, we get a two, and the third is the big one. So you should see the volume of the large candle spread coming out through the rally back up through here. And that'll give us a minimum expected wave three up there at about $1.48. So, again, you know, another great day. It's 100 and what, 170, 180% off the low down here to get that up there so um another great setup and it should you know again should just be the beginning bigger chart here as you can see

uh you know low volume node right here uh we'll get that wave five we'll pull back probably in this higher volume node so we'll go one two and then probably a larger three coming out of there and so i think it's a great you know again so many great opportunities to be in right now and so many people look at where this king down at right here look at they're running so hard yeah i mean link is the craziest link is the craziest it literally like may of 2022 i mean look so crazy to me that this link chart, and it gave the perfect retest there at the range high, like literally to the penny. The one that hasn't given any retest is Injective.

Oh, yeah, Injective just keeps on moving. Yeah. Guys, this is not, this doesn't, I'm sorry. Like you can, we can turn into a bear market, but these things do not happen. You do not see charts like this in a bear market. You just don't. Yeah, I mean, the link. I mean, look at Matic. Look at that retest. So perfect. Breakout,

increased volume through descending resistance. Retest both at the same point, 59 cents. Now you're at 77. It's crazy. And people are arguing and people are complaining. It's a bear market. It's a bear market bounce. And I'm going to, you know, guys, listen. Okay. It's not, okay. I'm going to be honest. It's not. I can't, you know, I say that, I always have to say, you know, listen,

I can't guarantee anything, right? None of us can guarantee anything when it comes to the markets. But at this point here, you know, this is 28 years of experience talking. This is, you know, having multiple decades of, of different, um, uh, you know, ways of trading. And there's absolutely nothing in there that says this is more likely a bear market than not. Everything is screaming bear market right now. Um, so, I mean, you trade it as it is until it proves you otherwise at this point. I mean, if you're not, you're just, God, man, so many people have lost out on so much mean, if you're not, you're just, God, man, so many people have lost out on so much opportunity over the last year because some certain big accounts have told them, listen, it's a bear market. You're going to lose your money if you

get in. Wait for the bear. Guys, if you're a trader and you haven't traded in two years, you're not a trader. If you haven't traded because it's not doing whatever you thought it was going to do, what you're waiting for it to do to continue. I mean, I just can't say this enough. If anybody's here, I take it seriously if they're listening to me. And I don't want them out there just sitting around missing. Because, yeah, sure, you can get in up here. Okay, fine, whatever.

But you are exponentially going to have a greater bit of return. If you can learn to spot bottoms, you know, instead of getting three X, you can get 20 X or something. And, um, I don't know, man, it's, it's frustrating for me. It's, it's difficult because I see people that, that are following that unfortunately. And, and, uh, they just, they end up losing out and it's tough, you know, because guess what, guys? Bear market low, this is your only chance at the bear market low until the next one, you know? And to be clear,

there still is plenty of opportunity here, right? Oh, yeah, yeah, yeah. We're not saying you have to buy the bottom and sell the top. We're just saying that it's been giving the signal now for quite a while. Yeah, yeah. My only point being

that if you learn how to, you know, forecast price action, if you understand really how and why markets move the way they do, you've got the opportunity to get in at these lows that I continue to talk about, you know, and that exponentially increases that return. There's nothing wrong guys. Listen, honestly, there's nothing wrong with getting in up here. It's just, you have to be realistic and go, okay, well, getting up you know there compared to getting in down here well my return isn't going to be as great you know you're exponentially going to return the closer you can get to that bear market low right um so yeah i mean you know you just just got to be careful out there um i i really don't have anything. Actually, these are from last week. So we got a WeMix here.

Again, we were looking at a minimum rate of 1.879. Every week we're looking at WeMix. We're looking at WeMix as it's now we're going to call the stream WeMix part seven, WeMix part eight. There you go. There you go. I think we're probably, you know, we were looking at this initial target and then up here around the pivot. We've just about got there. I think we're probably just about done on that. Let me see here. If we look at this right here.

You can look, you go, you know, one, two, three, four, and then one, two, three, four, five, potentially. We could we could get that bit for you. We can still push up a bit further, but ultimately going to look for that pullback down here into this sideways here so that, what is that, about $1 to $1.20. That'll be that pullback. And from there, that's the one you're going to want to be in. That's the big off this low here. That's a one. That'll be a two. And then that's going to be that three, that big move to really kind of get you in on that. So again, I have no clue what we mix is or what it does. I don't have to, all I have to know is this is what the chart says. I heard that it actually, uh, yeah, I heard it cures cancer and has solved world peace actually

on the blockchain. It's cured cancer and is solving world peace on the blockchain. Do what now? It's cured cancer and is solving world peace on the blockchain. That's what I've heard. Really? Very compelling, very compelling and important use case. So probably it should fundamentally be investor. No, I have no idea what it is either. Anyway. Other than that, I mean, you know, again, we talked about ETC last week, Ethereum Classic. We talked about the big volume down here at the lows, the nice wick. Looking for a breakout here. We got it. We're getting a retest right now.

Overall, we just want to see this thing. We'd like to see this hold here as support. If we can do that breakout higher, then I think, again, this is 1, 2, 3, 4, 5. And then that's A, B, c here or w x y uh and i think you know we just continue to kind of fly up there from here uh big picture wise that's going to give us a target yeah right up there at uh right around 108 dollars and.54. So, I mean, you know, if you were to say get in here, I mean, that's a rally of almost 500% just to get up on 1, 2, 3. And you have a 4, you have a 5, and, of course,

you have then this larger 1, 2 heading up there. Can I ask you to look at one more chart? One more chart I can request. But nonetheless, we should be looking at a new all-time high can i make a request i want to see what your thoughts are on dot because i like it dot on which one dot yeah i don't know i think we're having problems hearing each other but uh yeah dot i have mine which is uh i think it looks like it's breaking out of this descending channel here. Oops. So I'm thinking 570 easy, but yeah, I want to see what you think of dot.

Pull it up here real quick. So one of the ones we cover every day there in TWC, if we can load up, there we go. All right. So, yeah, so I've got this thing as a large one, two here. You know, we had a large, we had a nice rally up here for one i'm down for two flat correction here large move down heading up i've got a target of six dollars and 18 cents right now for this current wave three minimum expected minimum expected um but you know again

uh you know you've got this descending resistance here that we've broken out through volume picking up as we've gone and through it um i think overall it just it looks good off the lows here right i think overall we just kind of continue moving up there we're above that daily pivot i think we're good to go um you see as far as the weekly goes where are we in terms of the pivot here on the weekly oh that's way up here see so still got. So especially once we get through above this $13.17 area, that should really kind of. Yeah, that gets us up here at this previous, you know, more macro support area. Getting above that should really get us up here to the all time high and higher on that. Yeah, I like it.

I'm like, yeah, it's good. OK, good. OK, glad we have confluence of opinions. Although you'd be hard. You'd be pretty hard pressed right now to find a crypto chart that looks terrible. Oh yeah. Yeah. Again, you know, it's what we talked about coming into it. You know, when all go, they're all going right. We talk about Bitcoin rising tide lifts all ships. So, um, not every crypto is going to do it there are some really crappy ones out there but at the end of the day um if bitcoin's bullish and it's moving well um you know we generally expect

alts to rise with it and that's that's our big barometer that we have here so again if you're kind of putting yourself behind the eight ball and thinking that it's uh you know that it's still a bear market the opportunity egld man last week 70 up already so i mean that's just one wild i loved it that is it will forever probably be maybe outside of doge trading will be my forever favorite altcoin that i've done the best on over time and so i was having this one too it's really really good all right guys everybody follow t West Capitol. Of course you check out his group now. Wait, it's not on discord anymore. It's at a market. Give me the address. Members.TexasWestCapital.com. Yeah.

Members.TexasWestCapital.com. You can get a hell of a lot more than this than the 25 minutes that we share every Wednesday. So guys go check that out. Chris, thank you, man. Have a seat. Appreciate it, man. All right. All right, guys, that's all I got for you today. Got to head over to X spaces. Funny, you guys, I got distracted because my wife sent me a hilarious tweet that somebody had sent to her, which just blows my mind what women deal with in this world. I'm going to pull it up over here. This is hilarious. But she said that it's a good sign that the... What did her say? She said, good sign we're on the cusp of a bull market offers keep going up hello pretty would you love to have a loyal and caring

sugar daddy you get 6 000 euros weekly with no no any kind of sexual content included dudes are pathetic guess 6 000 euros and 6 000 euros but uh i think i'm hoping she's decided to pass on that one but man you guys should see the dms of a woman if you haven't it's it's an incredible place to be i will see you guys soon tomorrow got alex kruger tomorrow kruger macro so that's going to be an amazing and of course uh chart guys dan check in for that one see you then. Bye.