hello everyone and welcome to another
episode of Cullen talks crypto and today
we're going to take an overview a
thousand-foot overview look at the
crypto markets and as you're probably
aware you know there's blood in the
streets people are losing their shirts
the price is going down we have Bitcoin
6500 Bitcoin cash 611 aetherium 365 us
right now at five dollars eighty cents
so prices have been dropping by the way
I'm looking at my laptop crypto app
which you can find at contacts crypto
calm
speaking of which guys check this out
look at my shirt this is called tux
kryptos first t-shirt I'm not selling
these I don't know that there's even an
interest maybe someday I will but right
now I'll be sporting these and just kind
of you know when I'm walking down the
street you know people might check it
out get a little crypto savvy start a
conversation you know and that's what
it's all about it's all about spreading
the good word about crypto makes it
sound like some kind of a religion or
something but basically just getting the
word out there getting more people on
board you know that's what we're doing
we're here to help others find financial
freedom which is what crypto offers all
of us and I think that's why we're
interested and so thank you for joining
me this is Colin talks crypto
[Music]
okay guys so I have prepared a few
things for us today first of all I want
to take a look at the word economics so
what does the word economics mean I
don't know if any of you have taken the
time to look it up in a dictionary but
it says right here this is the long win
it says the study of the way in which
money and goods are produced and used
and I was reading that yesterday and I
just thought that was funny because I
don't think that I honestly would have
cared anything about economics
prior to cryptocurrency it wasn't on my
radar I don't think I was I'd even had
the awareness to pay attention to
economics okay so it's a study of the
way in which money and goods are
produced and used I mean who cares you
know you work
you get your first job you know I didn't
care about where my money came from or
you know I didn't even know that it was
being slowly devalued over time so
actually I would say I didn't care about
economics but cryptocurrency actually
brought to my radar the realization that
not everything is all right in the world
of economics because we have
manipulation we have inflation we have
Federal Reserve printing of money we
have all these things we've talked about
many times and once you realize that
things like tax is is kind of a form of
theft and then not only are we being
taxed as citizens of this country that
we happened to be born in by chance and
sort of owned in a way not only are we
taxed as citizens you know our hard work
gets cut away the money that we have and
hold is devalued over time by inflation
so it's like there's two edges of a
sword cutting at us both ways you know
we're getting taxed directly okay we
send money every year to the IRS and to
various places and then behind our back
we're getting stabbed also by the
printing of money which is making that
dollar that we worked for worth less
over time instead of holding its value
or maybe being worth more as in certain
deflationary models that cryptocurrency
can bring and so I suddenly just did
just dawned upon me when I was reading
this definition of economics that that's
when I started to care it's when I
realized that not everything was all
right and and suddenly you know it
doesn't matter how money and goods are
produced and used and it does matter how
dollars in Fiat are created and printed
into existence because that affects me
directly and it affects you directly and
I think that I would be safe to say that
that's probably why a lot of us are here
right now and we recognize we became
enlightened to the point where we
realized hey this isn't cool you know
you can't just take my money and it's
okay like if you came up to me on the
street and just try to take my money do
you think I would be happy about it you
know you can't just steal someone's
money well we're being stolen from and
that is the great ride that is crypto
and so anyways I just thought that'd be
a nice thousand foot view again just
step back and look at why are we here
what are we doing
again that's a very unifying view to me
because no matter what cryptocurrency
you're in in the hole we are all in this
together to make the world a better
place by freeing mankind and taking out
all those middlemen that want to dip
into our pockets
you know you sign up with a bank account
but then you get a late fee you have to
pay a monthly fee because they are
holding your money and we don't need
people to hold our money and that's the
great innovation suddenly cryptocurrency
has enabled a system where you take out
all the middlemen there's no more need
for people to be in the middle taking a
cut out of our hard-earned money I can
hold my own wallet you can control your
own money we don't need people to tell
us what we can and can't do with our
money and that is the freedom that
crypto brings to us all so if I was to
summarize I would say that crypto is the
vehicle that frees man from the abuse of
economics so I just wanted to start off
on that very thousand foot view note
okay guys so let's just take a quick
look at the markets this is where we're
at today as I said bitcoins at about
6500 dollars right now it's a new low
for the last couple of months I really
like to check out the overall market cap
when looking at crypto and this is the
current graph of this was the December
price spike and here we are now and you
can see it is definitely on a correction
it is definitely bottoming out it looks
like we've tested the bottom about four
times and actually we just kind of hit a
new low right here and you know it's
interesting because I probably have a
different viewpoint than a lot of
newcomers I find the bear markets kind
of exciting and in a correction sense
because I know that it's only going to
go down so far and I know that the lower
it goes the closer we are to the bottom
and you know no one can tell you exactly
where that bottom is and I should take a
moment right here just to say that you
know nothing that I say in this video or
any of my videos is to be construed as
financial advice I am NOT giving you
guys financial advice I am just giving
you my opinion on what I see in the
market and I just want to make that very
clear so make trading decisions based on
your own best judgment not based on what
I tell you to do I am NOT
advising you in any way so anyways yeah
it excites me to see the price go lower
because I've seen this three or four
times so far I remember first watching
the price shoot up to two hundred and
fifty five dollars and it was quite a
rush I remember actually watching it go
up by five dollar increments per day and
I was showing my friends like look at
this it's going out five dollars every
day and then it hit 255 this is back in
like March of 2013 and it finally peaked
the bubble popped and it crashed down
but of course it crashed to a new high
and and then I watched it in December of
2013 just six months later and it went
up to eleven hundred and fifty dollars
and that was just as exciting as the
first time and then it crashed down to a
new high and I started recognizing this
pattern that many of you have probably
seen where the price ramps up it gets
steeper it Peaks pops and crashes and
corrects over a while and repeats rinse
and repeat rinse and repeat well I've
seen this like four times and after you
see a pattern like this happen enough
times you start to get smart about it
and so it's like the you know if you've
seen the meme of the guy on the roller
coaster the guy who's like who's been
through this for like six years you know
he just rides the roller coaster in
complete boredom versus the guy who's
like fresh you know maybe he bought in
December he bought for $20,000 Bitcoin
and now we're down to 6500 and you know
and that's the guy who's like
going crazy because of all the
volatility well you learn to accept
volatility as part of the market beast
and once you do you can embrace it and
you can get intelligent because you can
look at past historical patterns and
apply them to the current scene and you
can make some educated long-term trading
decisions and honestly that's the only
way I approach it I really like to
approach it on a broad view because I
feel like the smaller time span you get
into the more difficult it is to easily
accurately predict the outcome and my
youtube channel is only about two months
old and thank you guys very much for all
your subscriptions to my channel I
really really appreciate your support my
goal is to hey you know a hundred
thousand subscribers in one year's time
and
go from there so thank you for your
support very much it means a lot but if
you remember I made a video and if you
don't please go check it out
about I think was about six weeks ago
about two months ago and I went over my
predictions for where we are currently
in the market as compared to past
patterns of bubbles and price spikes and
I still hold a hundred percent to my
belief I feel like my prediction was
more or less correct and so actually
what I'm doing right now is I'm just
gonna play that clip for you of where I
predicted where we are and where I think
we're going and I still feel the same
way so here it is I did my best with
that pink line to show what I'm saying
there I mean there's the so
let's take a look at where we are right
now I think that this bowl is starting
like this if you draw a line through it
I think it's curving downward like this
so if we were to go to the other picture
I think that we are already the
equivalent of approximately here maybe
we're here I'm not sure exactly so I
predict that for the next four to eight
months approximately we're going to be
relatively level in price there'll be
some ups it'll be some downs and then
after that 48 months I think we're gonna
begin entering and climbing the next
Bull Run it'll be a little while I think
that people who who say that it's gonna
go up right away are are probably
incorrect I think they're being a little
over enthusiastic
I'm just based in the past charts and
I'm gonna take a little more time to
balance out level a fully correct and
then I think we'll begin our ascent once
again so that's what I said about six to
eight weeks ago and I still hold true to
that belief I still feel like we are at
that section of the chart where we're at
the sideways movement going you know
more or less even the graph is never
perfectly flat you know it's gonna go up
it's gonna go down but I think we have
several more months worth of sideways
action to go here I think we're through
the worst part of the bear market so if
I was gonna handle my money I'd probably
start acquiring this is the acquisition
phase I'd start acquiring more crypto in
preparation over the next few months for
that future bull round which is coming
and you know eight months twelve months
out
Klee but it's coming and you want to be
ready and you don't want to be the guy
buying and faux mowing you want to be
the guy who already has that crypto
under his belt letting that rising tide
carry your ship up with it so when I
look at the crypto price back in the day
of course I would look at Bitcoin
because Bitcoin was the only crypto back
in 2013/2014 it was by far the only
crypto that the charts represented
aetherium I don't think even existed in
the 2013/2014 bubble it came into
existence later that next year so you
could just look at the chart of Bitcoin
and have a good idea of the entirety of
the crypto space well it's not quite
like that anymore
and so I like to look at the global
charts of the total market
capitalization you can see the Sun coin
market Capcom and the reason I like to
look at this is because it takes all
crypto into account and we have so many
of them and I want to look at the money
where's the money flowing and then you
know once you get that down you can then
go into the microcosm of which crypto am
I going to invest in and then you pick
the most intelligent one and that seems
to be a very personal choice what you
know you feel has the greatest utility
and to increase its value for mankind as
a utility so in conjunction with this
total market capitalization there is an
awesome site and I want to share this
with you guys
this is coin Lib do and you might have
to click on a few links to get to this
exact screen here this is the charts but
this shows the money flow and I find
this really interesting and this is the
explanation if you've ever wondered why
all the cryptos seem to go in unison
they seem to follow Bitcoin this is the
answer why and I think that some day
this will d couple but for now it is the
case so this is the money flow this is
fiat on the left side here we have the
US dollar which is the majority of the
fiat money coming into the crypto space
right up with it though is the Japanese
yen I actually was not aware that the
Japanese yen was pumping that much money
into crypto I would have thought that
the Chinese yuan would have been next
basically we have the US dollar and
Japanese yen as the primary fiat
currencies pumping into the system and
what are they pumping into their pumping
into this Bitcoin notice that they're
not directly pumping into any of the
other Kryptos I mean very little they
are like this little line right here is
how much is going into aetherium we have
a hundred and sixty 1 million dollars
going into aetherium in the past 24
hours but we have 5.1 billion dollars
going into Bitcoin so for all intents
and purposes we can really ignore all
these other Kryptos as far as where the
Fiats going the Fiat is going into
Bitcoin and that is why the market moves
when Bitcoin moves that is why your
favorite crypto whether it's a OS or
litecoin or Bitcoin cash all kind of
mirror what Bitcoin does because that's
where the money is onboarding into so
now let's zoom into this part of the
picture
you scroll down and we have the money
flow the crypto flow of where the
money's going from Bitcoin and so we
have Bitcoin and you can see that 385
million dollars went into etherium just
in the past 24 hours and that's the most
that there was next up is Bitcoin cash
184 million dollars flowed from Bitcoin
to Bitcoin cash notice it did not flow
from u.s. dollars or Japanese yen into
Bitcoin cash it flowed from Bitcoin to
Bitcoin cash that's because bitcoin is
the grandfather it is number one and it
has the most based trading pairs in all
exchanges you know the one thing you can
count on in almost any exchange is to
have Bitcoin BTC being the base trading
pair coupled with your favorite
cryptocurrency or an altcoin or whatever
you want to call it actually I don't
really like to use the word altcoins
anymore I think that a more fitting word
is cryptocurrency because there's a lot
of them out there and some of them are
smart contract platforms and things
above and beyond just a currency but
yeah the word all coin perhaps was
invented by maximalists who didn't want
there to be other coins out there anyway
so you can see that this is the division
of all the flow of money from Bitcoin
into the altcoins so that's the answer
if you were ever wondering why the
market seems to all the graphs kind of
look the same is because of that reason
now if we scroll down a little further
I'm gonna break something down for you
guys this is just my opinion
this is how I look at it
here's two charts okay so this is the
top 20 crypto currencies by market cap
this top section and the bottom section
is the top 20 crypto currencies by 24
hour volume so we have total market
capitalization and we have trading
volume down here now
if you'll notice some of the positions
of the currencies are different from the
top to the bottom
for example aetherium is number 2 on the
top graph so by market cap it's the
second largest coin but if we go down to
volume it's actually number 3 if you
take others into consideration so you'll
see there's a swapped place here between
the top and the bottom on aetherium and
others so that would lead me to believe
that
then of course others is referring to
probably thousands of cryptocurrencies
but as a whole they are increasing in
value more rapidly than etherium is
because the trading volume is higher if
if theorem was having a higher trading
volume it would have been number 2 down
here so let's do another example another
very obvious example here's a OS which
is fifth place on coin market cap and
here it is sitting here fifth place
we're gonna ignore the others so it's
one two three four five and so where is
it on the twenty four-hour volume and
consistently I see this US is not fifth
place it's more like third place if you
take out the others third place on
trading volume and so if it's third
place on trading volume but it's only
fifth place on the top twenty crypto
currencies by market cap that leads me
to believe that it should be moving up
it should be moving up to the third
place if it consistently has this
24-hour trading volume which is higher
than its placement that just means that
this is delayed this trading keeps
happening it's going to pump itself up
so I see aetherium moving down a notch
and I see EOS moving up two notches so
let's do another one let's look at
Bitcoin cash so as you know Bitcoin cash
currently is fourth place on coin market
cap one two three four and on the twenty
four-hour trading volume where is it
it's one two three four so that leads me
to believe that Bitcoin cash is not
doing poorly it's not doing super well
it's just staying level which is pretty
decent actually but if you'll notice us
hops above it here
where it was below it here so again that
leads me to believe Bitcoin cash is
going to remain pretty much constant on
its position on coin market cap but I do
CEOs actually surpassing Bitcoin cash in
McKoy market cap assuming that the
training volume continues this way just
an interesting point of view I think
that this is almost a way of
fortune-telling
the future of what coin market caps top
ten cryptocurrencies are going to look
like because if you see a coin come out
of nowhere and it has a humungous
trading volume but it's way down here on
the standings of coin market cap I
really strongly believe it's only a
matter of time before that coin moves up
the ranks and becomes a top performing
coin so I'd recommend keeping an eye on
this chart so based on what I see on
this chart yo s looks like a hot Buy
if there am look Slyke neutral by I
think that I don't know that I put a
bunch of money in it if I had to choose
right now I'd put it into EOS just based
on this chart alone so I think that
aetherium and Bitcoin cash are good safe
haven for asset diversification Bitcoin
it's good to be diversified into it just
because as we discussed earlier it is a
base trading pair with every single
currency not because I actually even
believe in it that's actually the one
time I will violate my rule on making
sure I believe in the technology I'm
investing in because it is based trading
pair on every exchange and every
cryptocurrency has a BTC trading pair
just about and so I would hold some as a
diversification because it is the
grandfather and we just never know you
never know what's gonna happen
let's just play devil's advocate here
let's say that you know let's say that
you don't like Bitcoin you're one of
these guys like me who thinks that
Bitcoin has kind of been taken in a bad
direction and you don't believe in the
Lightning Network well you know what it
might not matter because in the end who
knows maybe it'll get forked or maybe it
will turn into something else
the thing with crypto is it's code and
code can evolve it can adapt you can
have new versions and so who's to say
that in ten years maybe the Lightning
network won't exist but Bitcoin probably
still will and I don't want to have sold
my Bitcoin because in ten years it may
get back into good hands and it might be
a good asset to hold once again
there's also the possibility it could be
a completely crappy asset and that
things like äôs Bitcoin cash you know
etherium might all overtake Bitcoin in
ten years that's a long way out to
predict but I just like to look at all
possibilities okay and let's do one more
so let's take let's take card on out now
based on these charts here card I know
is I think it's eighth place on coin
market cap let's just take a quick look
there yes
eighth place and so a place on position
but where is it by trading volume I
don't even see it I think it's this
orange square here yeah so it's 8th
place on coin market cap but it's 1 2 3
4 5 6 7 8 9 10 11 12 13 place by trading
volume and to me that is not a good
indicator that actually I should
probably sell my card I know because
it's not being traded the volume is very
very low and so that's a red flag I
hadn't actually noticed that until right
in the middle of this video so I'm going
to take mental note of that
[Music]