How low can Bitcoin go: if the 200-day moving average at 73K fails, the 200-week moving average sits at 67K and the monthly at 64K, with more support as it falls lower. Aaron thinks Bitcoin will go lower than 57K during Trump's term, but other analysts see the alternative as a higher low — and the first higher low is always the scariest. 'Cardano founder sold?' — Charles Hoskinson sold his Blackhawk helicopter, not a crypto coin.
Searchable transcript of Crypto Crashing… How Low Can Bitcoin Go? (Cardano Founder Sold?) — Altcoin Daily (11:07). Search for a phrase, then click its timestamp to jump straight to that moment in the video.
Captions sourced from the original video on YouTube, published by Altcoin Daily. The video, its captions and all related intellectual property remain the property of their respective owners; AINotes claims no ownership. Provided for research, accessibility and search — see the Transcript Notice and Copyright Policy.
00:00 So, I'll be honest with you. I think that Bitcoin will go lower than 57K during Trump's term. Okay? I think it will. The moment of truth for Bitcoin and the crypto market is happening now. Bitcoin dropping to $73,000 yet finding support on the 200day moving average. Smash the like button and let's talk about what just came in. Inflation came in and it is hot this morning with not only a December rate hike now looking nearly inevitable, but it's even worse than that as according to market and Fed expert Ed Yard Denny,
00:45 he says it's not going to be a 25 basis point rate. This is supposed to say hike. It's going to be a 50 basis point hike. Oh, wait, wait, wait a second. I haven't liked the video yet. I I do want to support this because I do want to support this video because I feel like this is good alpha. They tell him Nvidia scandal, CPI, inflation data, midterms.
01:11 You can choose between any of the big boogeymen plaguing the markets right now. And he chooses to talk on inflation and the Fed's next move. And unfortunately for markets, this is going to be a liquidity suck because he says he he thinks it's very likely a 50 basis point hike is coming in December. Listen for yourself. >> There's Nvidia, >> there's anthropic, there's CPI, there's the midterms and chef's choice.
01:38 What's most important right now? >> Well, I I tend to look at the big picture and the big picture is showing that uh economy is doing great. labor market's doing extremely well and as Sarah pointed out, we've got an inflation problem. Uh I I was thinking that uh when the Fed passed on doing 25 basis points in October that we probably would get 50 basis points uh in the December meeting and I think that's increasingly likely.
02:04 I think it's going to happen. Uh they're kind of behind the curve and I think u there are Fed officials who said that if they stay too incremental, they're just at some point going to have to go a lot more. So, I think they've got to go more because they were too incremental. >> Even if even if this is the peak on monthly gains, monthly CPI jumps. >> Well, it it it might be, but they don't know that.
02:26 And the the the reality is it's it's the handle on the PCED on the deflator. Uh and that the year-over-year percent change according to the Cleveland Fed's uh inflation now indicator is going to be something like over 3% both headline and core. We have an inflation problem, but not that big of an inflation problem that we would have to go 50. >> Some argue today that Waller's offered a ton of forward guidance.
02:53 >> Absolutely. Yeah. >> What's going on there? Where do you think Well, he Kevin Worsh can't muzzle all of his colleagues. They obviously are going to continue to talk. You can't kind of put the genie back in the bottle. I mean, Vulkar kept a very tight lid on everybody, but once they realized they could go ahead and give speeches and it's a free country, uh, they're they're doing it and they're expressing their opinions and their opinions on balance are hawkish.
03:19 >> Remember, my friends, Bitcoin was higher 3 years after every Fed rate hike in history. The medium three-year compounded annual growth rate, in fact, 71% up. If Bitcoin were to rise 71% from here, that would put Bitcoin's price at $125,000. Now, we don't know where Bitcoin is going to be if and when they do the rate hike next month, but we do know that almost every crypto founder would never get involved with a scandal like this.
03:51 I mean, just look at the way the Ethereum founder, Vitalic Buterine, goes completely silent when a girl asks him one question. >> Today, we're joined by Vitalic. So, I know that onboarding the next billion users is very important to the ecosystem. Um, with that in mind, what's your favorite pickup line? >> What? >> Okay. Now, we know the future is bright because even on the darkest days of market sentiment like today, adoption fundamental data, which is very telling to where the future of this asset class is going to
04:31 go, is off the charts, making a huge all-time high. The total circulating supply of onchain tokenized equities surged by 930 million last week, the biggest weekly jump on record. This puts the total above 4.7 billion. Also a fresh record high amid midterm elections, amid the Nvidia scandal, amid a Fed that's probably going to hike because the the economy is running hot.
04:58 It is not an accident that the New York Stock Exchange picked Avalanche to settle their tokenized stocks. In fact, the New York Stock Exchange very excited to integrate with crypto. This is Ava Labs president and CEO talking about how the deal got done. The deal came about actually over the course of a a full year's effort with our business development and our technology teams locked in various different rooms both virtually and physically with the New York Stock Exchange and the Intercontinental Exchange teams laying
05:28 out what they felt that they needed in terms of blockchain technology for their tokenized ATS which is an altered trading system which is a regulated platform that they plan to launch in Q4. They wanted to make sure over the course of that year that they looked at various different blockchain platforms and made sure that whatever they were using was fit for purpose for what they were doing.
05:47 It also meant that they wanted to understand how we viewed their business and that we understood their business to make sure that this was there was no differential or no no daylight between a traditional finance company and a crypto company in this particular instance. And I'll tell you, they put us through the ringers, Zach. It was uh it was quite a year, a lot of intense meetings, a lot of intense work on both sides.
06:06 And over the course of that year, they became more and more comfortable that if they were going to put any blockchain at the core of this platform, it had to be Avalanche. >> If you bought crypto at the very top of the last cycle, I know things aren't feeling good right now. To be honest, you're probably not even watching this video because it's 5 years of zero gains.
06:25 Keep in mind though, some of the most successful traditional companies, equities, stocks on the planet, they stayed stagnant for over a decade. And still if you would have bought at any time, great investment because they have great fundamentals. Unfortunately, things are looking bad for Hey, I got a message. Unfortunately, things are looking bad for not just the retail participants, but also the founders as Charles Hoskinson just admitted on stream he sold his Blackhawk about four months ago.
06:55 Now, I thought he was talking about a cryptocoin for a second, but no, he's talking about his helicopter, which is now in the hands of somebody else. Charles seemed sad to admit this. Blackhawk is sold. It's out there in Ukraine. Sold it about uh four months ago. I miss it, too. The fact is more and more different financial products are being introduced every day that make it very easy to passively invest in Bitcoin and crypto.
07:30 This is just one example of a new financial product. Another way people can buy and take supply off the market for years to come. Very bullish. Listen. >> So the strategy starts with 95% exposure to the S&P 500 and 5% to Bitcoin. And then over time, how does that change? I mean have you projected out over say four quarters over uh 16 quarters over 20 quarters what that allocation will look like.
07:58 So the allocation start at 5% and as new dividend comes through from the equity is reinvested into the bitcoin. Now if the bitcoin reach over 5% uh at the specific degree balances then it will be cut back down to four and a half%. So it has the opportunity to participate if let's say Bitcoin outperformed the equity significantly to be carved back. But let's say the Bitcoin underperform, we're not really like buying on the cheap.
08:28 We're leaving it at where what it was, right? So this way your downside is a bit protected. >> I see. All right. Thank you so much for explaining that. Now, unless you think that we're going to get a lower low this year, lower than 57, and some prominent analysts do think we're going to get a lower low this year. I'm going to release this interview with Ben Cowen in less than 48 hours.
08:51 Members are already viewing it. Due to circumstances beyond my control, I'm not able to release this until less than 48 hours, but trust me, you're going to want to see this recent Ben Cowan interview. So, I'll be honest with you, right? Um, I think that Bitcoin will go lower than 57K during Trump's term. Okay, I think it will. >> But unless you believe that a lower low is coming, and and sure, that is 100% possible, the other alternative is that we're just making a higher low.
09:25 And the first higher low is always the scariest. Is Bitcoin today just like Bitcoin in 2023? That would be the bull case. Look, let's just say that the 200 day moving average at 73K doesn't hold. Let's go to the week chart and we can see the 200W week moving average is at 67K. That could be possible. That could be the higher low. On the month chart, it is at 64K.
10:00 So there's a lot of support where we are right now and there's more and more support as we fall lower. Investing is a game that rewards the patient that rewards people who are in it for the long term. We have a lot of big interviews dropping this week. Make sure you stay subscribed and members of course are able to see our interviews before anybody else.
10:19 If you've never signed up for Bitbase Exchange before, it is not too late to sign up and unlock up to $14,550 for sign up and task and trading based bonuses. I see the back end. I can see that some people just are happy just doing the tasks that get you $1,000 or $5,000 or whatever it is. Once you sign up, and this is important, so I know a lot of people have already signed up.
10:43 You have 14 days to take advantage of, you know, unlocking up to 14,550. Of course, there will be different trading competitions and different challenges going forward. You're going to want to use our link or our code to get the best deals signing up. And also going forward, my name is Aaron. This is Altcoin Daily. I will see you tomorrow my