2-Things-Things-The-Market-Needs-For-A-Rebound-Bittrex-Adds (Transcript)


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[00:00] Welcome to bit better, have my money. I’m Mitchell Stulken and I just got off work again. Still wearing the sweet fedex uniform with the V neck cut down. So stupid. So stupid. Uh, let’s take a look quick at the Crypto, my crypto portfolio trading portfolio. Uh, and I was just on it up to 3,800. So up about two percent it says. So that is awesome. I will take two percent. It’s a couple hundred bucks, I believe. So, uh, all my coins on the 24 hour trend are up except a couple it looks like or whereas I just looking at the wrong screen. Pause. Nope. So that’s awesome. Uh, there are only one, two, three coins down for me today. Ardour shift and dragon chain, which dragon chain has kinda been heading down, but in the 24 hour trend, uh, it looks like a lot of everything. Most things are up about five percent, roughly a big one. Wabi up 15 percent. That’s also down from quite a ways. Wings, eight percent chain 12 percent. Uh, but yeah, most everything else is around five, two to five, couple sevens.

[01:26] So some movement up, which is nice to see for once. If we go over to on chain effects, bit coin. There it is. Up Two percent. So there we go. Once that moves up, it seems like everything else follows suit up to 7,500 roughly etherium up. Five percent. Stellar lumens. Nice up 11 percent. That’s good. Um, some big daily movers. Gas Up 14 percent BNB, which is financed token 12 percent. That’s good. That one actually went up a ton. I bought in. Yeah, six months on that is up 639 percent. And I am lucky enough to be getting that 639 percent. Unfortunately I only put um, I think like 50 bucks into it, but 639 percent I will take all day long all day. So, uh, I think that one should be a pretty good one. It’s hard to tell with these exchange coins because if these exchanges go down, well obviously then they’re worthless.

[02:40] So it’s hard to tell. But I do own some BNB. I also owned some Coo coin shares I bought into Ku coin early on because I started using that some top losers actually at the top. Losers our door at two point eight percent. The other one is poly polymath and that is only down point three, seven percent. So not too bad. Sit in there. We can take that all day loom again. I’m going to have to look into this some more, but loom is up nine percent. Uh, I had never heard of this until yesterday. Age of two months loom. So it hasn’t been out very long. It’s got a market cap of 220 million. The price right now is at thirty six cents, so it’s up 18 percent for the month down nine percent for the week. So that’s pretty early one. Looks like when it first kind of hit was a down at eight percent or eight cents I should say.

[03:42] So that one is an interesting one. Platforms are always a good investment, at least right now. So I’m going to have to look into that one a little bit more. Had not heard of that. Um, so I was thinking the other day, uh, what the market kind of needs to rebound because we’ve been ever since like January, it’s been headed down and its traded sideways a little bit here and there, but for the most part it’s just kind of continuously slid down and there were kinda two things that came up with that could help bring about another bull run. The first one that I think would help the most is each raid or, or some other, like Merrill Lynch, there’s a bunch of them, but one of those e trade stock market trading platforms, they need to make investing in crypto easily. If you’re listening to this, you probably know it’s not easy to get started investing in crypto.

[04:40] It takes some research. You got to transfer coins, you get to look at wallets. Um, it just can be a process. And most the average person I would say it does not want to buy like bitcoin or ethereum does not want to move it to an exchange by another coin and then have to move it to a wallet. That’s just, it’s a lot of work. They just want it simple, so if each raid were to come out and have a button that they could just say a person could click and move some of their portfolio or cash into crypto, be super simple. I think people would move into it and be a little less worried and it could even be some sort of hedge fund where they’re not, where it takes like the top 20 for example, or index fund. It could be the top 20 and the risk is spread out over the top 20.

[05:33] It doesn’t necessarily even have to be a single crypto they’re buying into could just be a grouping of them to lower their risk and they’re there already. Things like the crypto 20 is out there and they do that. Um, I have some of that as well. But I think something like that would get the average person into crypto just to be exposed to it. And that money coming in would benefit everybody. The second one, governments need to move some of their assets to crypto. Now this obviously wouldn’t be of the US is so far behind usually on the these things. But what you’d want to look for is like a government that their currency is losing value. I’m like Venezuela or something like that where their currency and that people aren’t using it. It’s losing value to three percent, five percent, whatever. It’s losing value so they could move some of their assets or Fiat into crypto for more profitability.

[06:39] Um, granted, crypto is not stable as much in general, but they can diversify out and reduce the risk. I mean, that’s usually what people do. Um, the upside is going to be tremendous for them. Crypto is going to come back to the car. Bitcoin’s going to go up, they’re going to get much more and at least have a chance to return on their investment than watching their currency lose, lose value continuously. And they don’t have to put all their money into it. Obviously they could just put a small percentage of their assets and they’d see, still see the benefits if they would do that, uh, even if they did a small amount of their assets, just a tiny portion, it would scoop up a ton of crypto. It would drastically reduce the amount of available, especially if, let’s just say they go into Bitcoin, there’s only a certain amount of bitcoin available.

[07:42] I can’t remember. It was like 21 million something, I can’t remember exactly. But if someone like a government were to come in and put, we’ll just say all into crypto Crypto, there’s less out there now. Less of something that’s going to drive up value. So if even if they diversified their money out, they’re going to be scooping up crypto. Everything’s got a market cap or a hard cap to where there’s a limited supply and they’re going to take a portion of that off the table. It’s going to drive up price, it’s going to bring more money into the market and just things go up for once. So those are kind of the two things that um, I think each trade coming in and making invest in crypto easier and governments moving into crypto. And I was thinking about this yesterday and I actually wrote something up on the blog about that yesterday and today there was some news coming out which was actually very exciting.

[08:40] So bittrex is actually, they’re set to add USD pairings, which is awesome because having to go through coinbase all the time or gi docs and then transfer stuff over, it’s just more that I don’t want to pay. I don’t want to have to pay more fees. It sucks. You can buy on Gdx with no fees, but you still got to transfer it out of there. So if we can just get into one exchange vitreous and by there done that makes it easier. Uh, right now it looks like they are partnered. They are partnering with Signature Bank. Uh, I don’t, I don’t even know if we have those in South Dakota. Maybe I’ve heard of it when we lived out in California and stuff. I’ve seen it on commercials, but unfortunately I don’t bank. They’re a, but they partnered with them to allow Fiat USD to go into, um, they’re gonna roll out USD parents for bitcoin.

[09:38] You SDT and true USD, which I looked into true. I like true at USD. I have not used it yet because I haven’t had the opportunity. What? That is a stable coin. So let’s say you make 30 percent on an alt coin will say neo, you made 30 percent on Neil, you sell it and you could look like from now, well not yet, but if you sold your neo, you were probably into Bitcoin, you want to avoid that volatility, you can move that profit into true USD which is pegged to the dollar and avoid the volatility. So if neo then drops down, you can move back into neo and increase your holdings or if bitcoin drops down you can move back into bitcoin and increase your holdings there. So it’s really good thing. Tether has been out for awhile to do that and I’m tether is its own different animal.

[10:30] I personally have never used tread tether. I don’t plan to Kinda sketchy but true. USD actually looks to be legit from what I’ve researched and heard. So I do plan on using that. It be interesting to see how these pairings work out and what they will do moving forward. But right now unfortunately you can only do it in certain states. So. And it looks like. So for right now, these parody pairings for regulatory reasons will only be available to corporate clients. So that’s not like normal retail investors, just corporate clients in California, New York, Washington and Montana. I don’t live too far from Montana, but I’m not a corporate client, but this opens the door. Um, I did not know this until today, but, uh, apparently wells fargo actually did some banking with bittrex and then now they do not. So even those signature apparently is a smaller bank.

[11:37] It’s still a bank coming into crypto to help an exchange do USD parents. This is a fairly big deal. Um, as far as I know, it really hasn’t been done too much. Um, if it all the signature bank, then customers will be, what is the customer base of 3 million? So that’s awesome. Offering one of the highest number of cryptocurrency parents and like, oh, that’s customer base of 3 million users for bittrex. I thought that was for signature, but anyway, uh, it could push it more mainstream, could get some signature clients into or customers into crypto. Um, so that’s kind of one of the things instead of the e trade, like I was hoping a stock market would come in instead bittrex just went ahead and did it themselves. They made it a little bit easier. So that could be another way. The, the exchanges making it simpler to get your fiance and cash into there.

[12:45] So we’ll see how that plays out. This just came out today. Um, yeah. Here’s what I saw today with several major us lenders, including you, Wells Fargo, which previously provided banking support for tricks banning customers from purchasing cryptocurrencies with their bank issued credit cards. Smaller banks like signature are stepping in to fill the void. And yes, there are a lot of smaller banks so that’s great. I did not know wells Fargo actually provided bank and support for Bittrex, but I did know they band customers because I am one of their customers unfortunately. Um, and this is also great for like signature because if maybe I haven’t looked into it, but maybe I can move my money in, into signatures bank, which is going to be good for them and it’ll be great for me because I can move then straight into bittrex, which I use anyway. So if you are listening and have access to signature bank or if you even use it now, let me know how that works. So that’s pretty awesome. I would imagine there will be more, uh, banks kind of looking at this, obviously watching it to see what happens with that. Would you kindly hit that subscribe button and we’ll talk to you tomorrow.

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