Bitcoin at $36K: What's Next?
60sTapping into the excitement of Bitcoin's price surge and the question of what's holding it back sparks curiosity and engagement.
▶ Play Clip"Title promises a breakout, but the stream is mostly a Q&A hangout with some market analysis; delivers moderate value."
In this live stream, the hosts of Altcoin Daily, Aaron and Austin, discuss the current state of the cryptocurrency market in January 2021, focusing on Bitcoin's price consolidation and the potential for an altcoin season. They answer audience questions about specific coins like Cardano and Chainlink, share their personal investment strategies, and reflect on the differences between this bull cycle and previous ones, emphasizing the role of institutional investors and on-chain data.
Bitcoin is at $36,000, having touched $37,000, and is consolidating after dipping to around $30,000. The hosts discuss what might be holding Bitcoin back from its next leg up.
They express gratitude for the current price, noting that Bitcoin touched $42,000 in January 2021 and is now consolidating at $32,000. They believe we won't see Bitcoin under $20,000 again.
Aaron emphasizes that Bitcoin's price in the next 1-3 months doesn't matter for long-term accumulation. He suggests that the last three months of the year (October-December) are more important.
They discuss how each leg up in Bitcoin's price brings a new wave of retail investors, but each wave buys less Bitcoin because the price is higher. This could lead to a bubble at higher prices.
Cardano is discussed as a coin that has risen without institutional support, driven mainly by retail excitement. The hosts advise preparing for a pullback but acknowledge Cardano's potential in the interoperability and Web3 space.
Austin is surprised that Ethereum is the only coin close to breaking its all-time high against USD. He notes that many other coins are still below their previous highs.
Austin wishes someone had told him early on that Bitcoin is fundamentally different from altcoins. He emphasizes that in the next bear market, the amount of Bitcoin you hold will matter most.
The hosts explain that altcoin season typically occurs when Bitcoin becomes perceived as too expensive by retail, leading them to buy more altcoins. They expect this to happen later in the bull cycle.
Aaron says he doesn't day trade Bitcoin; he is a long-term hodler and accumulator. He does some swing trades with altcoins but focuses on increasing his Bitcoin position.
They discuss how on-chain data helps them see that smart money is buying Bitcoin despite FUD, making it easier to ignore negative news.
They discuss the safety of wearing Bitcoin merchandise, with Aaron feeling safe because he can defend himself, but advising others not to signal their crypto holdings.
They discuss EIP-1559, which would burn a portion of transaction fees, potentially making Ethereum deflationary. Miners are unhappy, but it aims to ease congestion.
Aaron believes this is one of the best times to buy Bitcoin with almost no risk, comparing it to buying at $1,500 last cycle.
They think Ethereum could outperform Bitcoin in growth this year, but it's riskier. The infrastructure has improved 100x since 2017, making altcoins more attractive.
They discuss whether Bitcoin will drop by the same percentage in the next bear market. They mention the concept of a 'left translated cycle' where the top comes sooner and the bear market is shorter.
This cycle is different because institutions are accumulating Bitcoin, not just retail. They are buying as a store of value, which could lead to a different market dynamic.
They advise not to be afraid to take profits at 2x, 3x, or 4x, and to take out the principal to play with house money. Not all altcoins are created equal.
They are neutral on CRO. The app has good fees and options, but the coin itself has silent inflation due to the company owning the majority of supply.
They acknowledge Polkadot's developer superiority and Chainlink's strong marketing and partnerships, comparing Chainlink's news presence to Ripple's in 2017.
Aaron would put 80% in Bitcoin, 10% in Ethereum, and 10% in altcoins if he were new. Austin would put 50% in Bitcoin, 25% in Ethereum, and 25% in speculative altcoins.
They are confident Ethereum will break its all-time high, citing the PayPal listing of four coins and the overall market momentum.
They started Altcoin Daily to provide valuable information about the whole crypto market, not just hype every coin. They aim to deliver value every day.
Aaron recommends cryptotrader.tax for crypto taxes, noting he used it himself.
They believe it's still very early in the bull market, with more risk off the table now that Bitcoin has broken all-time highs. They plan to do more live streams.
The hosts emphasize that despite short-term fluctuations, the long-term outlook for Bitcoin is strong, and they encourage viewers to focus on accumulation. They highlight the unique aspects of this cycle, including institutional involvement and the importance of on-chain data, and remind viewers to take profits on altcoins while maintaining a core Bitcoin position.
What is the current price of Bitcoin mentioned in the stream?
$36,000
02:49
What does Aaron say about Bitcoin's price in the next 1-3 months?
It doesn't matter for long-term accumulation.
04:36
What is the 'left translated cycle' concept?
A cycle where the top occurs sooner and the bear market is shorter, potentially leading to a quicker recovery.
32:28
What is EIP-1559?
An Ethereum improvement proposal that burns a portion of transaction fees, potentially making Ethereum deflationary.
25:16
What percentage of his portfolio does Aaron allocate to Bitcoin?
Around 88%
10:08
What is the main reason altcoin season occurs?
When Bitcoin becomes perceived as too expensive by retail, they buy more altcoins.
16:36
What is the 'silent inflation' issue with CRO?
The company owns the majority of the supply, leading to potential inflation.
39:31
What does Austin suggest for investing $1,000?
50% in Bitcoin, 25% in Ethereum, and 25% in speculative altcoins.
44:12
What is the significance of on-chain data in combating FUD?
It allows investors to see that smart money is buying, making it easier to ignore negative news.
21:44
What is the hosts' view on wearing Bitcoin merchandise?
Aaron feels safe, but advises others not to signal their crypto holdings.
23:39
Short-Term Price Irrelevance
Emphasizes a long-term investment mindset over short-term price movements.
04:36Bitcoin is Fundamentally Different
Highlights the unique store-of-value properties of Bitcoin compared to altcoins.
14:17On-Chain Data as FUD Shield
Shows how data can provide clarity amidst market fear and uncertainty.
21:44Institutional Accumulation
Identifies a key difference in this bull cycle: institutional buying as a long-term store of value.
34:07Investment Allocation Advice
Provides practical, actionable advice for new investors on portfolio allocation.
42:09[00:03] welcome back everybody to altcoin daily first live stream of the year baby first live stream of the year baby actually wait it says scheduled
[00:16] if this is uh working see if anybody's in the chat you know we used to do these live streams all the time and we're just kind of uh thumbnail came up though it seems like it's not the correct thumbnail
[00:29] find out where people are from and i'll update the thumbnail sure sure be my friends is a question and answer type of thing and just a late night time and then youtube started cracking down
[00:44] on those scam live streams and so um you know they they used to shut us just based on uh you know shut down first ask questions later kinds of things up again slowly see how it goes but there's so
[01:01] sometimes it's just better to like let's talk ask answer any questions you guys have in the chat there's so much that i wish i would have known when i came in
[01:13] last full cycle and i'm sure there's a bunch of new people here this time so everybody grab a beer i got one from london ontario denver colorado what's up soldier for
[01:26] denver colorado what's up soldier for god sharing their favorite coins mississippi a lot of australia new zealand i mean we got a global chat here guys
[01:39] dot-com bubble when everybody was investing in that if they would have the internet back then and could have all connected and talked about pets.com or amazon or whatever
[01:51] whatever either what i said i'm back i'm ready to take it off perfect so we got 730 people in chat right now people are just rolling in i'm sure we're gonna have over a thousand for sure
[02:03] um if you're gonna watch this at a later date feel free to uh just you know it's more of a hangout question and answer and keep in mind we'll be doing well we'll be doing this more and more as the year goes on right
[02:18] because sometimes it's just fun alrighty let me share my screen aaron tweet it out if you would oh and then here we are let me get to the proper screen no need to docs
[02:33] let's see flipping the screen in three two one this is the hour chart we're going to zoom out a little bit
[02:49] let me adjust this there we go and boom so we're moving right now bitcoin is at thirty six thousand dollars thirty six thousand dollars a little higher we touched thirty seven
[03:03] back here my question to you aaron and maybe the chat i and really hopefully we get some audience questions too what is holding bitcoin back from its next leg up
[03:17] next leg up why aren't we going what is holding and already got a retweet and a couple likes so hopefully people are tuning in feel free to uh post it on your own social media but
[03:30] next leg up well first of all let's have a little gratitude for us being here right uh we touched 42 000 by january coming into 2021 right now we're consolidating at 32 thousand
[03:45] consolidating at 32 thousand we dipped six okay yeah exactly we dip back down to like thirty thousand now we're at thirty six thousand it's like let's be a little thankful for let's be honest we're not gonna get a
[03:57] under twenty 000 again some people are saying we're not even going to chance saying we're not even going to chance to buy bitcoin under 30 000 again so so what are you saying hopefully there's a little bit of time before the
[04:10] stuff i've been saying in you know forever when you're in the bear market things are very slow during bear markets and a lot of consolidation a lot of time in bull markets the max payne is
[04:23] watching the lower prices below you and saying i'll never get a now we're already at 60 000 so i mean what's stopping us from getting a 60 000 or i mean just the next level up not a lot not a lot i mean
[04:36] come on sometime in the next couple months right yeah and i just want to add on what bitcoin's price does financial advisor but what bitcoin's price does
[04:48] in the next one to three months so january through january march does not matter in my opinion accumulating bitcoin if that's right for thank yourself in the last three months november
[05:02] october december that's my opinion you know we are seeing bullish consolidation accumulation right now so i think that's obviously guys we'll take all questions but super chats will be prioritized
[05:19] where are you where are you you look at that super chat question but i want to respond to something that you said and but guys by the way if you're tuning in right now everybody hit the like button we'll get
[05:31] and pretty soon we'll have 2 000 people on this chat regarding that next level up you know we were making content all throughout the bear market bitcoin was six thousand dollars forever and then it
[05:44] thousand and it was kind of hell and just uh just like come on let's get to it but people used to say who would ever this is back in 2018 even 2019 who would ever buy bitcoin at 20k people
[05:58] aren't even buying it at 6k and now we're begging uh you know prices to go down to 20k um so what i want to say is this question well who's going to buy bitcoin at 100k nobody right no i think
[06:16] i think everybody is still going to be buying bitcoin at 100k they're gonna be like i can drop ten thousand dollars for point one bitcoin i think people are gonna be buying bitcoin up until 200k but i think what
[06:28] probably something similar to what we saw last bull cycle every leg up the bitcoin goes as retail comes and the next huge wave of retail gets bigger and bigger every wave they're going to be unfortunately
[06:42] they're going to be buying less bitcoin with every wave because it's going to be that's when things are going to get foamy really bubbly and i don't think that's going to happen at 100k people
[06:54] oh nobody's buying 100k i think people will still buy it 100k but once bitcoin gets over 200k i think you know that's just each leg up you know the plight of the retail investor i'm sure we all did it right
[07:10] i like it i like what you're saying the bitcoin price directly after this is i lost the name we got over 1 400 people watching but they said hey
[07:23] check out spn web3 now i i'm not familiar with this it's the lowest of the low cap even though there are 6 000 coins the low cap but either way it seems like
[07:36] project i'll definitely check it out you know i can't really comment at the moment what this is but spn well did he have i mean if check out this coin there's not a lot we can say if you say hey this is what i
[07:49] coin market cap or like it's he did say he did say web3 i mean honestly someone's worried that low cap i mean hey if you can get a good pump out of it that's fine but don't be huddling it right one thing
[08:03] audience specifically is that i can't speak for other channels but i i'd like to think we're smart from what i see of you guys in the comments you have a very you know you think through your choices
[08:17] through your choices so i will check it out but yeah i mean what i like about our audience is i this is what i feel i feel like um follow us we have the i think we have
[08:31] think we have uh bitcoin mostly people who follow us i think we have you know major altcoiners who follow us and it's market i think really gives people you know a water
[08:44] just you know now let's just talk about what's going on in cryptocurrency right for sure um i see two super chats wise not into wise token but
[08:56] i appreciate your super chat man uh but portfolio kings says talk about cardano thoughts about cardano right now aaron in january cardano right now aaron in january 2021. let me tell you something cardano
[09:09] have we all remember cardano at two cents it touched two and then it was around like under 10 cents forever if you would have told me would be over 30 cents i mean
[09:26] have said yeah right and the fact that it's there without retail really coming first of all guys prepare for the pullback right prepare for a pullback high if you're a cardano holder but
[09:41] i mean cardano's like there's no institutions who are buying cardana right every the cardano pumps are mainly due to retail being excited about what's coming up with cardano um i would say that
[09:56] i mean cardano is still in the conversation obviously on this channel get to do this with you on the live stream stream my portfolio i'd say 88
[10:08] to bitcoin 10 aetherium and then the last two three whatever percent last two three whatever percent is a few select alt coins that's me be very transparent about you know where my head's at
[10:20] i will say what i like about cardano is they're still in the conversation less in my opinion cardano and polkadot are still in the conversation to be interoperable and add to you know web3
[10:35] so i like that yeah i would say cordano is an example of a coin um but what i'm saying is they're an example of a coin that um are doing things as good as you could
[10:48] right is it doesn't have a future that remains to be seen everybody wants in their altcoin project to do in that the ceo live streaming every night keeping people informed
[11:03] all that kind of stuff i just want to do this very quickly this very quickly uh crypto4u says hello i'm 13. thanks for inspiring me to open up my own youtube cryptocurrency channel
[11:17] guy just gave us soups he gave us a super chat dude appreciate man i'm glad yeah you know we need more content creators in the space realism to click click on one of his videos i want to see
[11:31] want to see what it looks like with him bitcoin is following plans so you think we need more 13 year old educators in the space i love it but i don't want some sometimes youtube
[11:45] video is for kids so i just wanna okay anyway i like this channel i saw it uh that's awesome no i was just i was just uh joking around broski that's cool you're doing it at 13.
[11:58] um but okay here's a here's an interesting thing somebody was asking me there's so many super chats but i did see i don't just want to do super chats i saw one that was a good question somebody asked something about ethol
[12:11] and this is a question i have for you austin what surprised you what surprised you what's surprising you now that you never thinking when you used to think about this stuff in the bear market and for me
[12:27] this stuff in the bear market and for me it's that ethereum is the only coin that's going to you know close to breaking out of its all-time highs versus usd um every other coin well i mean chain
[12:41] chain link and b b there's a few there are newer coins that are would say i'm listen i'm not interested in the old coins i'm uh interested in the new coins now there's some old coins
[12:55] but you're interested in ethereum i know you for sure because let's talk about it it's differentiating itself um so you asked me what surprised me the most about cryptocurrency i guess you know we're
[13:09] cryptocurrency i guess you know we're you know multiple weeks into 2021 as soon as we we talked about this and many a few other people did you know twenty thousand dollars it would you
[13:22] back it's you know it's crazy it feels crazy to me that we were we were talking about passing 20k before christmas and now you know
[13:34] it's going crazy people are accumulating and i i do want to echo what you said um before too most of my portfolio is in bitcoin i'd say like around 90 percent then i have second biggest holding is
[13:48] ethereum probably over five percent and then altcoins and the reason um one biggest holding is that it's not that i'm opposed anything i'm i'm very interested in it because they
[14:02] can see huge gains in many cases um but i you know i like to take profits you know that's why uh one of the many reasons why well it's really why i keep uh accumulating bitcoin so you know actually that's um
[14:17] one thing i did want to mention i wish somebody would have told me in the very beginning when i got into uh bitcoin i wish somebody would have that bitcoin is fundamentally different this is stuff we say on the channel all
[14:29] the time but it's that like you know do you want you i mean at the end of the at the end of the year in the next bear market much bitcoin you have that's my opinion um so i mean like i said there's tons of
[14:44] like straight-up altcoiners that don't like bitcoin and watch this channel that's fine you do you right yeah i agree with that sentiment right now we have 2 400 people watching appreciate
[14:58] question not from a super chat but let's just rattle off a couple of these right now let's get to a super chat too because no rattle off a few super chats and then we're going to go to a
[15:11] none stupid question um crypto husky i we missed your email but feel free to crypto husky um mike somebody says s keycoin smart real world application i know bitboy has like you know
[15:26] sort of a sponsored collab with them i think i've heard about it right now because i am a pure spectator when it comes to some of those newer alts kazen krypto donates ten dollars
[15:41] he says having a beer with you both thanks austin and aaron following your channel since 2017 created a cardano youtube channel now i'm all in i love that i love where his head's at
[15:54] but we didn't have a channel in 2017 so hey but like you're probably with us so hey but like you're probably with us in 2018 though so that's cool yes um a mayor says love if you could check the chart uh
[16:09] sec i mean i'll just be honest we are a little leery of random altcoins um let me let me let me do some i have you know heard about that one let me do some research and we'll uh i'll bring it back again
[16:22] check them i guess if it's like a super chat but other than that all right here is a regular question from the audience um when will we see a quote-unquote alt-season thoughts it's
[16:36] all be rich right it's i mean i kind of explained here's like the general philosophy in that as bitcoin gets perceived as more and more expensive by retail holders every leg up they're
[16:51] going to be buying less bitcoin and more alts and i don't think that's going to happen like i think at all when bitcoin's 100 000 majority bitcoin um but at a certain point it's just every
[17:04] it gets less and less because people just don't know so the end-all be-all will be at the end of the bull cycle around when bitcoin peaks what was interesting last year or the year before that
[17:18] and what was interesting about that is that didn't rely on retail to come in is that didn't rely on retail to come in um it uh didn't need retail at all it uh relied on just some whales and uh lending and borrowing and d5
[17:35] so i mean listen if we knew when old season was we'd all be rich right i have my own personal alts that uh you know i'm trading or profit but hey um somebody said hey um we missed your
[17:49] if you want to just give a regular comment we can try again chat gets read if it's going super low cap weird altcoin just being can no caller crypto says my daddy used to
[18:04] altcoin daily on his radio when he was little i love that definitely podcast guy yeah crypto alex usa mind my mind uh tipped five dollars says i love one
[18:17] what they are doing what do you think so you know a little bit about one inch video back then they had the airdrop you know they're getting competitive know they're getting competitive similar to how sushi swap forced uniswap
[18:30] to create their own token to you know for engagement it in the protocol um delegation-wise consensus-wise a lot of different things now i'm not a trader and i'm not on one inch you know their
[18:44] one inch token this is a good question from jonathan k altcoin daily do you guys day trade bitcoin or are you guys just hodlers of bitcoin huge fans of the channel for me personally i just huddle bitcoin
[18:58] i'm constantly increasing my bitcoin position and i i would say i don't day trade at all um i do trade sometimes but they're more like swing trades or multi-day trades and it's mainly alt
[19:12] position i mean think about it everybody i'm sure sold bitcoin when it was 19 000 because they were waiting for the dip i'm sure 28 000 because they're waiting for a dip
[19:24] but if you miss out on a huge run it's hard to get back in so i only paddling yeah i mean too i you know i'm never going to you know
[19:38] going to know the bottom it seems but you never truly know so i me personally i'm a long-term hodler and accumulator meaning that you know i like to buy cheap buy the
[19:52] and hold on for the long term now i do hold alts some that seem to maybe you know either have hype tell and then my loose plan is to sell those
[20:07] at the top that's my plan will that happen
[20:47] by and i turned it off uh we're back baby hey we're back thank you guys in the chat um so i guess i had some looking at the um they seem like they're putting in some good questions i wrote down some
[21:00] from previous a lot of times you guys ask us questions in our regular videos um oh this is something somebody wanted me to address about the recent fudd our video um you know talking about how the fud
[21:15] was going to say is that it's interesting with bitcoin and cryptocurrency because fud fear uncertainty doubt has been stock market there's fod commodities there's fud the thing about
[21:29] something like that is the retail investor has no idea scenes and it's different with bitcoin in that we have on-chain data so when all this thud came out recently about bitcoin we could just turn to
[21:44] and go oh actually we can see that bitcoin is getting um before right and so it's a little bit interesting how if you're in tune with that kind of stuff
[21:58] fud doesn't affect you for for half of the things that it normally would so and we didn't really have on-chain data as much as we do this cycle so how can you fund bitcoin i mean you can
[22:11] but when you see that smart money is buying more than ever that's kind of an interesting thing and the unchained data was always there i mean we had them two three years ago too but you know they're more aware
[22:26] and there is this uh you know i'll do this there is this to me famous cnbc video mark yusko was a guest and uh melissa lee said hey bitcoin is at this price right
[22:44] now and marquesso said buy it and she was like well no matter what yeah because this metric is up hash rate is that's the story right now and then sure enough you know bitcoins up
[22:57] that's what i like about uh a bitcoiner pierre richard who works channel a lot of people would describe him as a bitcoin maximalist and he is uh
[23:09] but he's also just a great bitcoiner and he's constantly just telling people uh sell your house sell your stocks sell everything buy more bitcoin man i wish i would have listened to him more
[23:22] question um ten dollar super chat from masked ninja how safe do you feel wearing bitcoin because obviously it's smart
[23:39] it's it's a very smart idea here's the thing we're in the public eye public about it might as well wrap the brand right but for somebody who doesn't have a cryptocurrency channel um it's uh it's a toss up
[23:53] because it might be the smartest thing ever not to signal to anybody that you have bitcoin and definitely never tell somebody how much bitcoin you own um i feel perfectly safe because i can beat up anybody who tries to
[24:05] take my crypto but uh it's an interesting question i personally feel thought that uh don't do it you know that's uh i like what you're saying it's outrageous to me that guys where where
[24:18] you know and you know don't tell anybody what you have but it's i never i've nev foods or the grocery store and i never get so many fist bumps they bitcoin yeah this particular hat is from
[24:34] bitcoinmovement.com they're great um because that's the crypto logo that i have is almost exclusively bitcoin i
[24:47] i have some exchange apparel but it's almost exclusively bitcoin because i'm bitcoin when most people don't realize it but now that we've surpassed all-time more and more and people are definitely stopping me i got the kova test the
[25:02] and the lady who did the covet test was like hey i like your shirt i said oh future of money and she goes yeah she's like i agree it's just like some 50 year old lady is pretty cool we have a ten dollar super chat from crypto alex
[25:16] usa mine mine mine i'm an eath miner with a nice sized farm an ethereum improvement proposal 1559 will hurt us miners it most likely creates scarcity through
[25:30] to create a deflationary token if it passes guess on that ethereum improvement proposal yeah thing i mean you said a minor i mean it's it's
[25:44] because they're basically killing off each one to get to the staking um but i agree with that but i i will add
[25:58] on the whole purpose of that ethereum improvement proposal is for congestion so it's supposed to ease congestion make it so you know right now the richest people will get their transactions in first
[26:10] before uh they switch to proof of stake that's supposed to change that and it's ethereum with every transaction i am excited for but i'm not a miner but that will you know miners aren't happy about that
[26:25] by the way um there's been a huge interest um in alt coins and ethereum specifically in the last couple weeks and you know i'm happy to make content but like anybody's wondering how do i feel about bitcoin at the moment
[26:39] probably one of the best times to buy bitcoin with like almost no risk in my opinion like just look back to every other time bitcoin and then started consolidating on that leg higher
[26:54] that's like it's like buying bitcoin at what 1500 last cycle that's personally my opinion so if you're if you're a new person and you're thinking bitcoin's too expensive i'd say no way this is the best time to
[27:06] buy in my opinion of course you'll have to make your own decisions i love that i love that perspective hey kirby t says tent super chat's ten dollars man appreciate you um long time fan of the
[27:20] channel do you think eth will outperform btc in terms of growth this year thoughts aaron uh i mean that's definitely something we've been covering for all subscribers in the
[27:32] past few videos i mean first of all the question is do i think down to speculate on certain altcoins yeah for sure i wasn't sure at the depths of the of the bear market it's quite obvious no
[27:45] now we know a lot more at the beginnings of this new bull market than we did at the depths of the bear market number two do i think alt coins in will outperform bitcoin in certain periods of time
[27:58] yeah that's why people are so attracted to them and for eth specifically attracted to eth i would say yeah it's obviously riskier my personal opinion why wouldn't it because
[28:14] the plumbing and infrastructure has 100x just since 2017. interview we talked about this on the moon's interview with us in 2014 there's one exchange it uh got hacked crashed mount gox one exchange in
[28:29] 2014. three years later 2017 a lot more finance wasn't really out yet so a lot of the bigger ones weren't there there was big tracks there were there were a few but like they were like
[28:42] literally turning people away near the top um plumbing has 100x uh people's ability to evaluate not i'm very surprised whenever i look at
[28:55] coinmarketcap.com and just seeing coins in the top 25. um so i mean fundamental things like decentralization permissionlessness the market doesn't really like care about that
[29:08] so why wouldn't the alts pump that's that's what i'm saying yeah i mean i echo that statement i will add on that in bull markets the altcoins pump in bear markets they get drained out
[29:21] for example you know and that's the perspective you have to take in if you're a new investor in this market meaning people bought cardano let's just litecoin whatever you know that at the beginning of 2017
[29:35] they all of them almost went down too close to where they started before a few bounced back so will alts pump i think you know we've seen many little cycles they will i don't want to be stuck
[29:50] holding a bag i want to accumulate more bitcoin that's me yeah i would say though and this is just my opinion that everybody there's i've said this
[30:02] before and it's hard to articulate but when a lot of people got in near the top of 2017 and even throughout 2018 in my opinion maybe i was listening to the wrong people but the alt coiners were the loudest people
[30:14] like here hardly any bitcoin maximalists except for like podcasts i listened to um over the last year or so the bitcoin maximalists have become the loudest uh but what i would
[30:27] say is that uh i just think that there is opportunity in altcoins by the time that everybody realized by the time the perceptions shift that'll be the time to sell austin do you understand what i'm
[30:41] yeah it makes sense and i think all this can be summed up in terms of like every day we get another data point so what i what i would would i have said there will be an old season four months ago
[30:53] damn we were just sort of starting or maybe in the middle of the beginnings of of the bull market so every day we get a new data point and i mean that's how you can be the most accurate by tuning in every day
[31:05] most accurate by tuning in every day learning every day erin i'm going to get another beer um if anybody in the chat i'll respond to uh adriano's wants austin to grab
[31:18] them a beer just let us know type it in i'll do that but i'll respond to adriano seen this bowl case analysis for ethereum on the subreddit cryptocurrency and i just clicked through and i saw that i
[31:32] like it because i frequent that subreddit sometimes so i saw it at the time and i liked it and uh yeah i saw it i mean that's the bold case for ethereum right um from jason simpson
[31:46] super chat 10 appreciate you jason do you think the price of bitcoin will drop by the same percentage in this next bear market as the previous one market as the previous one i think what we could end up seeing
[32:00] is let me uh switch to let me share my screen real quick in halfway through on that yeah it was from jason 10
[32:12] drop by the same percentage in the next bear market as the previous one i think now of course it's always a possibility but who knows where the top correction if bitcoin gets to half a million dollars for sure but what we
[32:28] this is something bob lucas has talked about the left translated next cycle in that every single cycle up until this point has been right near the right right side of the cycle it's
[32:43] that because and i think this is true this is the first bitcoin bull cycle this is the first mainstream one where people people realize that bitcoin is not going away what could happen is we see a very
[32:57] either short in time bear market or a bear market that doesn't correct by as much as it did in the past and then bitcoin rallies up to all-time highs near the beginning of the next cycle way
[33:10] sooner than it did this time and then that's going to be a left translated cycle it would be like so the folks at home can see if they're looking at the screen if this if the 2014 2017
[33:24] thing is our next cycle is if if the top happened like way sooner and out and then an extended bear market so you know i think it's a possibility it doesn't happen exactly as as people are expecting because i'm sure
[33:39] a lot of people will expecting oh it happened three cycles ago it cycle ago and if everybody's expecting the same thing differently i like that um i want to say two things first thing
[33:53] link i will answer that you think okay cool just making sure and i i mean i think that's great perspective aaron different about this cycle right now in terms of
[34:07] who's accumulating who's not it's institutions baby yeah guy i mean try and go back and watch media from the last bull cycle first of all this is the first bull cycle near the beginning when the media
[34:21] course they did it on cnbc back in the day but like now everybody's doing it um and institutions you know you know nobody knows what anybody will do but
[34:33] the thought is that they are i'm searching for the word that they're not more reliable and more secure it's like you know it's a little less why institutions are buying rather than random people so they're not buying
[34:47] to sell at the top you know some are i don't know they're doing they're buying as a store value long-term hold if you like michael saylor yeah and it is i mean it's just unbelievable it's and keep in mind
[34:59] grayscale which are cryptocurrency companies they're exclusively buying bitcoin pretty much we always hear stories that eth too but don't necessarily think their institutions aren't going to buy
[35:11] your alt bag it will either go up through utility or for most cases and uh before we get to this um five dollar super chat i do want to reiterate a big thank you to crypto hunky uh with the 99
[35:26] like to connect that was very generous of you man 99 us 10 minutes i just wanted to rethink rethink him because it was really generous but anyway uh joey five dollars says hey can you
[35:39] talk a little bit about the length of an old season i have 20 alts and i'm when to take profits do alt seasons follow previous cycles and i wish there was a cookie cutter answer i could give you that would give
[35:52] the top but that's nobody knows right that absolutely i would say that it totally
[36:07] wants to take for example um sell it at the top you know do not be afraid of like a 2x a 3x a 4x
[36:20] if something goes crazy you know it's gonna correct eventually and hey maybe and then it goes up more well then just take out the principle like this so specific to the individual i would just say don't
[36:33] and then just play with the house's money and don't be afraid to take a 2x or 3x that's awesome yeah like just generally a lot of times what i like to do is if my alt coins pump a lot i
[36:47] plus some profits and then i have a moon bag i can just let it ride for the bull season but i also want to say not all alt coins are created equal now if you talk to
[36:59] a bitcoin only type person they'll tell you all altcoins are equal they'll all [ __ ] um i don't necessarily think that i like something like litecoin um i wouldn't want to be in an altcoin
[37:13] money like bitcoin i think that's a losing battle i know we have a big digi bike fans in our audience sky nets script skynet he's a great guy long-term bullish on digibyte of course it's going to pump though
[37:26] you know altcoins the new alt coins the d5 alt coins the current trends those are the ones i'm interested in and as soon as the trend is over i want to get interested in the next thing
[37:39] to get interested in the next thing i love that we have over 3 000 people watching i just want to say a big thank you for the people that have from the beginning or somewhere in the middle you guys are awesome we're
[37:51] probably going 15 more minutes max max so let's answer some good i have a super chat aaron if you want to get to it are you ready yeah yeah all right hey what are your thoughts on
[38:06] crow been watching you guys a long time keep up the good work um keep up the good work um my thoughts on crow uh i think in the long term the biggest unknown about crow is like some people
[38:20] who aren't bullish on crow talk about how they don't know if the cryptocurrency company has um is solvent has the funds um the case um as far as like interacting with crow on the app
[38:35] use the crow app but you need the crow tokens to uh interact i mean overall in my serious opinion it's just in my serious opinion it's just uh you know i'm just neutral on it i
[38:49] guess i'm not excited about crow this is what i'd say yeah that's a great perspective i would say also that i mean aaron and i we tried it for sponsor the channel for a while which i love i'm gonna reiterate the
[39:04] same thing i said in two different videos i think the app point of view especially if you're not in the us great fees and great options to buy and maybe stake
[39:18] cryptocurrency if that's your thing the coin from an investable point of view if you're just speculating not for me uh one because you know we have that silent inflation of the company owning
[39:31] the majority of the supply and you know some people like that xrp stellar they're in near the top ten in the top ten you know with something similar to that but i would say if you're staking and
[39:43] getting the perks don't uh you know don't stake anything these are all just it's very new so wow we just got like a couple super chats from like just people saying hello from different regions like
[39:57] tipped us five bucks saying greets from dutch amsterdam a fan of the show rob g'day from australia keep up the rad g'day from australia keep up the rad work um
[40:15] guys in australia feel about crocodile dundee i know i probably seen like a holds up right as an australian american movie
[40:28] super chat before maybe aaron i have a question for you uh just a comment been playing with polka dot from a developer perspective it's superior to most dap coins so son of a tech says that
[40:40] from a development point of view you know i want to comment on chain link breaking all-time highs uh chain link has been in uh a few you rally like a year or two ago you know we've
[40:54] still you know in my videos just from a ta strictly price point of view you know it really doesn't surprise me because it never broke like market structure to to be in a bear
[41:08] holders man i wish i would have bought some chain link back in the day running they have great you know great marketing great leadership that really uh you know can you speak to the value
[41:24] chain link i'm not saying it's totally the same but chain link does write um what ripple used to do right back in 2017. i'm not saying it's the same but i'm just saying the ripple used to be in the news every day partnership
[41:37] and chain link a lot of people are integrating the chain link oracles in the news almost every day so uh you know they do that right in my opinion aaron and for the almost 3 000 people watching holy hell
[41:55] i'm going to ask aaron a question and if this is the question you're like the likes aaron this is my question for you if i give you one thousand dollars today with the goal of making the most
[42:09] today with the goal of making the most money possible in 2021 how do you do it different for everybody but how would you go about that that's the thousand dollar question and what people have to understand is
[42:21] something that you should do right i've been in the market for a long time i not bragging i'm just saying there's there is a lot to understand plus i follow the market every day so somebody who doesn't follow the
[42:36] if i were in that position i would put 100 in bitcoin 100 in bitcoin however i realized that people's urge to is too strong and most people won't do that so what i would do is put
[42:49] that so what i would do is put if i was new put 80 percent in bitcoin if i was new put 80 percent in bitcoin 10 ethereum and 10 in specific alt coins profits that's if i was newer for me personally
[43:03] one thousand dollars to make the most money by the end of the year money by the end of the year i here's the thing i
[43:16] this is separate like i'm still continuing to cost average bitcoin so bitcoin because that's something separate i would put 200 in each 500 in the blue chip d5 coins basically stuff that
[43:33] is um a lot of it's on d5 pulse and then i use the remaining uh three hundred dollars to do a really speculative stuff and uh the really low cap jam is
[43:46] and maybe that's a 10 million dollar market cap for the like i'm just trying maybe 25 now things are pumped but how low low to me what i'm hearing from you
[43:59] is that low yeah just like a low market cap type thing um how about you austin if you had one thousand dollars with a goal to make the most money by the end appreciate us answering the fun questions hit the
[44:12] us answering the fun questions hit the likes catch me not allocating at least 50 percent into bitcoin for me just because ultimately
[44:26] nobody knows what the future is going to hold and i never want to give up or not stop adding to my bitcoin stash so because i'm trying to make you know over time it will in my opinion stand the test of time
[44:40] so for this question 50 500 bucks into bitcoin bitcoin and you know eth's gonna have a and you know eth's gonna have a great day i would say put uh
[44:52] even going to eat because i think that'll do great i'm going to go to maybe the polka dot or the cardano or the compound ave um blue chip defy slash that platform
[45:06] and if eth if eth can 10x 15x whatever you know i think they'll go a little more and goddamn i'm going to time that top i know it's impossible but i'm gonna try and then the last 250
[45:19] bucks um go in the 10 million dollar market cap maybe 25 million maybe that's some projects it either has fit into the defy narrative the nft narrative or
[45:32] you know the small projects on polka dots that seems to be an ecosystem that'll do very well this year things like that i want to appreciate who just a regular comment in the chat i'm reading the regular comments too
[45:44] guys said i've watched this is from yaves sakamoto watched a lot of channels since last year and this is one i still follow almost every day appreciate you uh
[45:56] mao trap says are you guys brothers yes twin brothers are bitcoin maximalists which we're not but we are very bitcoin centric i guess you could call us and it's like oh calling us bitcoin
[46:10] maximalists you mean one of the only coins that has like gained the most value in the past year yeah you're welcome for drilling bitcoin um i also want to thank the people who are just super chatting without any
[46:22] questions like antonio and will and liz and uh and you guys appreciate you guys hey somebody says well why is the channel called altcoin that's a great question um first of all the intention of the channel
[46:36] is always to talk about the whole market i find it odd that some of these bitcoin that but it's like they there's just the not talking about alt coins unless you're very very cynical
[46:51] on this channel is be able to talk about the whole market now that being said when we named the channel old coin daily i did not have my you know fundamental views on bitcoin um but the reason we maintain the channel
[47:03] going to talk about the whole market every single altcoin could end up on our channels so yeah i like that and we have a bit of right now i'm going to share my screen and
[47:18] experience in the chat whoop too late ethereum which is about 10 of my portfolio is close is close there's no way ethereum isn't going to break all-time
[47:34] confidence because i happen to think that raul paul won't let aetherium fall down he's not going to let it fall down guys and if he drops it if he drops the ball tyler winklevoss is going to step in and pump
[47:47] ethereum and if he drops the ball then i don't know we'll have to rely on i mean there's developers yeah exactly but yeah like i've said this for since it happened that one of the most bullish things to happen
[48:00] talking about it but besides that it's for bitcoin litecoin ethereum and be cash is getting listed on paypal and paypal describes each different coin
[48:15] there's no way paypal's 360 million plus and growing aren't just going to buy all four coins in my personal opinion going to be the people buying at the top probably but
[48:30] probably but yeah we are going to be here for a final at this point usually people kind of like to just you know kind of watching in five minutes i want to make sure you're watching
[48:43] let's let's this final five minutes let's make it the most little bit of a hint like three minutes from now that people like oh i was there but really we'll just go for five minutes right
[48:58] unbelievable three 3k people watching unbelievable yeah so i guess in the final five minutes i mean we'll go to the chat i i just wanna you know people are so uh appreciative in the comments and just
[49:12] saying hey thanks for the great content uh no thank you guys i'm i'm really happy to provide value um one of the reasons we started the channel back in the day i saw
[49:26] i didn't i didn't get in at the top of 2017 but i started watching crypto youtube near the top of 2017 and i couldn't believe the views they were thinking back obviously it was the height of the euphoria of the market
[49:38] but back then i always thought it was like a lot of these guys are good making content today but half of these guys do subpar jobs providing people with valuable information i always thought
[49:50] i could do a better job providing people with valuable information if they're get those kind of views and um and that is and that is our goal to try and deliver that value and you know hope you know that's our goal
[50:03] every day you know you tell us if we did it yeah know we want to make content that people want to watch but it's also to give people number one valuable information and
[50:16] number two just talk about cryptocurrency i mean now the mainstream media kind of talking about crypto but most of crypto now your friends are just starting to
[50:29] become interested in bitcoin not a lot and back in the day most of them not interested in talking about bitcoin so this is a chance for crypto and crypto people and bitcoiners to talk about the market
[50:41] to talk about the market we have two minutes left nobody gosh darn tune out let me go through three things first off somebody's asking last year i used cryptotrader.tax disclosure we had a partnership with
[50:54] partnership with them this year but i actually did use it that's how i do my taxes crypto trader tax just fyi um alan super chat's fifty dollars man i'm going to put that directly into bitcoin and
[51:08] support this wow that's really generous thank you ellen thank you man and then last thing i want to say is from antonio de la torre guys i have taken my profits from the first cycle and invested it
[51:21] from from then should i do this again i'm from guatemala i would say you know i don't know your hell yeah dude if you're looking in real estate buy and sell signals that's not
[51:36] uh michael lee 499 appreciate you sir says um your name is altcoin daily but you're kind of ripping on people who have old coins lol just name yourselves bitcoin daily um i'm not ripping on them i own old
[51:50] can make the case why some old coins were pumped and i'm very interested in um but we're also just not going to be moon boys about every single altcoin we're kind of like i think if people don't appreciate it
[52:03] later on if we're not just going to hype up every single coin it's um yeah and but then again if you're if you think differently good i want you guys to think differently when somebody in
[52:15] goes i'm not doing that or i think that's a bad idea or i did the exact said you were doing in the video i always say that's awesome man i'm glad i mean by the way whoever's going to tune into our video tomorrow i'm going
[52:29] secret word that if you're tuning into the live chat now and you catch our tomorrow if you type into the chat
[52:41] in the regular thing tomorrow um type in just grape just the word grape our live stream at the end and that's that's it g-r-a-p-e great hey we're all moonbot we're all moon
[52:56] boys hell yeah um somebody said uh bryce jones i think said my grandma's talking about bitcoin uh bryce jones and ethereum go grandma
[53:08] stream we have over 3k watching you guys did it i want to do this i want to do this on a regular basis um i just want to end it everybody in the chat oh my god everybody's saying grape no
[53:23] say uh a lot of people are tuning in who've been with us for years especially when bitcoin was under 14 000 last 28 days we got 50 000 new
[53:37] here too i think overall it's still very early in better time there's more risk when bitcoin wasn't
[53:50] broke all-time highs is consolidating higher tons of risk is off the table in my opinion and it's just a great time and early time still to be in this bull market i love
[54:03] that i agree appreciate you guys tuning in like always we'll see you tomorrow
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