Welcome to Discover Crypto! It is September 20th. It's 11 .30am. How are we all doing? We got Drew and AJ on the ones and twos today, folks. We're going to talk about the Fed. We're going to talk about what are they going to be saying with the interest rate hikes. And also we're going to be talking about Bitcoin and other cryptos. AJ, how are you doing today? I'm doing great, man. Another day in the life. Let's get it. Drew, how are you doing? Oh, just great. You know, can't complain. Well, you can. You can. You complain when you get home. You'd like, you know, just really vent to your two -year -old. Yeah, that's where I do it. Deezy, did you see the tweet that went out yesterday about the show I'm doing with from George from Cryptos R Us? What? Yeah, yeah. Yeah, he's with Blockchain Boy and Neutron. Joshua Jay. Yeah, yeah, yeah. Yeah. So we're all like, it's for crew, like, plus, you know, and basically we're all doing something different. I believe, like, Josh is doing like a news kind of show and Blockchain Boys. I'm not really sure what Blockchain Boys doing, but I know the videos are going to start coming out here pretty soon. We're still like brainstorming my concept, but I have a really good, like, rough idea of what I'm doing. But it's going to be really interesting to see how, like, where this goes. And I'm just fun to excited to do something different, you know? And I'm excited. We got Frankie Candles doing the charts today. I see Frankie getting ready in his neon square. He's in his, like, little neon area. I don't know if, oh, he can hear me. He's showing some recognition and anticipation of what Deezy is going to say next. Yeah, we saw the Donald Trump Jr. tweets. It looks like he got hacked. Also, Rob, you're popping it. Hey, we're going to see you back. Can't wait till you come back. All right, let's just get right into crypto. Marc Kepson's Drew is done. Am I too tall? Am I too tall? Too tall for the camera? Look, I got to stand. I got to do these shows a lot, you know? I take the shoes off. So I shrink, you know? They come in. I'm like 6 '11", and I take the shoes off. Then I drop back down to 6 '3". I got the Tom Cruise lifts. All right, Bitcoin is falling a little bit, folks. We were in the green this morning when I first woke up. Now we are down 0 .6%, and Ethereum is down 1 .3%. But XRP looks pretty good. XRP is up. It is up 0 .8 % on the day so far. Meanwhile, Cardano, I woke up this morning. It was up, but now it's down. It is down 0 .7%. Dogecoin down 1 .3%. TonCoin finally cooling off a little bit for the week here. It is down 1 .2%. Litecoin has taken a little bit of a beating, folks. Litecoin is down 5%. We talked about Litecoin a little bit yesterday on ATB. I highly recommend you check that out after this stream. All right, let's look at the top gainers. Then we're going to look at the top losers. You know, I have a streak of keeping my coins in the losers, but not today, folks. I'm feeling good. In fact, maybe I'll have a coin in the top 10. Who knows? All right, here we have Caspa leading the way. Caspa is just on fire, folks. The people who bought Caspa at $0 .01, $0 .02, looking good. Just put in a higher high too. You got past that last one, yep. All right, we are now above a nickel, and it looks like maybe price discovery mode for a Caspa. XDC is up 4 .3%. Maker is up. Radix is up. Aave is up. I have a coin in the ties. A little Solana. I think maybe I have some Arbitrum. Maybe. I'm not even sure I have to check. Then we have, you know, XRP is up 0 .8%. We got gold. Gold's moving to the upside. The graph moving to the upside, even though Bitcoin and ETH are down. Okay, so it's not all blood in the streets, but hopefully, it's not going to be blood in Deasy's wallet, guys. And again, I promise you, I do not check this ahead of time. I kind of like being surprised. I like discovering it with you. So let's discover cryptos, Deasy's coins in here. I'm looking good today. All right, I don't know how long the streak has been continuing. I don't know when's the last. I think I last held Litecoin in 2021. Never had Thor, Phrax, eCash, or I know Frankie likes to trade Adam. I like to trade Eve. So maybe we'll talk to him about the Adam is falling 4 % here. Litecoin down 5%. Thor chained down 5%. Any of these coins, you know, peak it. Well, if you go at it, I do have two in the top 10. I got two in the top 10. Just, you know, just to make it feel good. But any of these screaming at you here? Yeah, Thor, Litecoin, Phrax. Not surprised really to see. I mean, everything kind of came up yesterday. I'm still kind of sticking to the theory that the pump we're seeing could possibly be a bull trap. I think, you know, when we get into the FOMC news, the pauses that is likely coming is going to be bullish for the sentiment. I'm just still like kind of macro worried based off of the stock market sharks. Actually, the Algorand, you know, down 2 .8%. That one's kind of obviously yelling at me a little bit. I have a theory coming up, but I'm not going to say it right now. But I'm making a video about it, about Algorand. So stay tuned for that. OK, so you're going to create more? I'm going to create more. I create more crypto content every day and some of it's about Algorand. But I like how it's a period. Create more. No exclamation point. Just create. It's more like create more. Oh, OK. Great. More. Great. Great. Yeah. All right. Well, we're going to create some stories here about the feds. What are they doing? I don't know if we've ever had an article from this news organization. ABC. Shout out to Mickey Mouse and the Disney crew here. Fed to decide on a rate hike. Testing optimism about a soft landing as inflation rises again. Upon announcing the Fed Reserve's latest rate hike decision in July, Jerome Powell spoke out a lectern in Washington, DC for a half hour before he dropped a bombshell. The Central Bank staff has abandoned its forecast of a recession. Staff at the Fed, in other words, now expect the Central Bank to achieve a soft landing, an outcome in which the US brings down inflation while avoiding a downturn. Inflation has ticked up for two consecutive months, reversing some of the progress made in the effort to bring price increases down to normal levels. Meanwhile, oil prices have soared, threatening to push inflation even higher. Well, they got like moving ads. Whoa, whoa, what's going on here? Calm down, ABC. Economists surveyed by Bloomberg expect the Fed to leave its benchmark interest rate unchanged, affording policymakers time to weigh their next move as a rapid series of previous rate hikes take full effect. I was looking at Caleb Franzen's tweets. We're at 99 % on the prediction market unchanged today, right? Have you been looking at the, when is the next one? Is it November? I can pull the calendar. I'm pretty sure it's the end of October. I think it's like maybe on Halloween. Let me double check. Oh, on Halloween is going to be spooky. Okay, Drew, are you going to give out candy this Halloween? Absolutely. You know, but actually I'll be doing candied apples. Okay, I'm going to be giving out pamphlets on inflation to children. Yeah, you know, you could have got Reese's pieces, but blame Jerome Powell. You can take advantage of the time and the season to teach your children about tax. Tax them. Like attacking kids for their pillowcases of candy? Taxing them heavily. Yeah, take 33 % of every Snickers bar they get. That's right. Yeah, that's just the way it is. Why wait? Welcome to America, you know? And yeah, the next FOMC is October 31st, November 1st, so. Okay, okay. October 31st. All right, all right. Halloween, what's Jerome Powell going to dress up as? Alex from A Clockwork Orange. Pat, do you want us to dress up on the channel? I might be willing to dress up in a costume. I might be willing. You know, every - I could break out the green spandex, go old school. You know, every Halloween, AJ disappears and a Mr. Meeseeks just shows up. Okay, I heard existence is pain though. Existence is pain. We're not fumbling around for meaning here, Deezy. All right. Well, I'm fumbling around for this rate of inflation. It eases slightly 6 .7 % despite the oil prices surging. You know, like we said, I think the oil is going to be a leading indicator, so inflation will trickle down from the oil prices. If you want to think about it, it's going to cost more money to get those bananas to drive from point A to point B because they're going to have to spend more in the gas tank. This is going to be - It's just give it a while, let it roll out to the rest of the economy. Namely, food. Oil prices really, really like to impact food prices a couple months down the line. Well, we're looking at the ONS as the Office for National Statistics, and they said the consumer price index measure slowed in the 12 months to August from the 6 .8 figure reported the previous month thanks to food rising at a weaker pace during the month compared to August 22. During the X minute, I have a tweet about Canadian food prices, and I just kind of look at where they've gone over the past 20 years. It is shocking. It is shocking. I used Bard. I was like, this doesn't feel right for the price. I went to a Canadian grocery store, and I went low. I went low. There's expensive eggs and cheap eggs. I typed in the cheap egg price. It was still very scary. All right, well, we have predictions. Jerome Powell's got his ideas. You notice I was thinking about this BlackRock. What is BlackRock thinking about all this? BlackRock and others predict the Fed's next move. What does it mean for Bitcoin though? According to Marilyn Watson, is a BlackRock's head of global fundamental income strategy. The central bank's federal funds target rate will remain roughly the same until the end of the year going through its September, November, and December meetings. For the record, I think the economic data has consistently surprised to the upside, she said. That includes GDP, the unemployment rate, and the labor market. Beware, beware of recession. The analyst has previously argued that Bitcoin's price is macroeconomic determined by conditions, including its four -year cycles, which I am still a firm believer in for this cycle. Might be less of an effect of the previous one, but I'm still a believer in the four -year cycle, going to push Bitcoin to the new high. I do think we'll set in a new all -time high. I don't think we're going to hit a quarter million dollars in two years, but I think we're going to flirt with $100K, which they do not believe are related to the Bitcoin halving. So they're saying the four -year cycle is not related. I don't know what they're saying here. Risk assets go lower in recessions. So I'd expect Bitcoin would not perform well in that environment. It has not seen a real recession in its existence. It was birthed out of a recession, but yeah, hasn't really gone through one from the beginning stages to the end there. Yeah, there's never been a Bitcoin bull run during a phase of quantitative tightening. We've always been quantitatively easing the money supply anytime Bitcoin goes up into the right. And that obviously is what it takes. I think they're kind of leaning into if we're in a recession, and that lines up with the four -year cycle. But just so far, we're three for three with the having idea playing out. And the trend hasn't broken yet, so that's why I always say sticking to November 25 as a benchmark, but that's just a benchmark. It could be behind that. It could be in front of that. We don't have a crystal ball, but we can go off the pattern that we've seen before. All right. Well, speaking of quantitative tightening, we also have calfskin tightening, the tightest calfskin in the entire world. I don't care if you have a baby cow jacket for an extra small on an 800 -pound man, there is no tighter calfskin than the man I'm looking at right now. That is Frankie Candles. Frankie Candles, welcome back. How's it doing? Does it feel good? It feels good. The calfskin is tight, and so is Bitcoin's price action. But yeah, I don't want to waste time here. Let's go ahead and jump right into the charts here. Now, here we are. Now, obviously, I talk about this all the time. I don't typically trade on newsdays like this. It is usually a complete washing machine. Usually the shorts get wrecked, then the longs get wrecked, or the longs get wrecked, and then the shorts get wrecked. So I don't typically trade. Now, I am in a few trades right now. I am in this Bitcoin long right now. I have profits locked in on this trade and my stop loss is at my entry. So kind of how I am playing this today is I'm going to be holding my long. I am long from about $25 ,000 to $50 ,000 just below this range. And again, I have taken profits on that stop loss at break even. And then I am also in a short position from somewhere up here. I am slightly in profit on the short position. So I am long up and now I am in this small short position that is in slight profit. However, this is kind of how I'm playing this today, DZ. Because basically, like I said, I never recommend people trade on these newsdays just because of the complete unpredictable volatility that you're likely to see. Now, the last FOMC meeting, I believe, was on the 25th, 26th of July. I believe someone could correct me if I'm wrong on that. But we actually have seen a few FOMC meetings where we didn't really have too much happen. And I've been telling people that we are likely in that kind of boring accumulation phase of the bear market. A lot of times, if you go back to at least the 2017 or 2018, 2019 bear market, we had that bear market rally. And once we topped off at that point, we kind of just bled out. And for the most part, if you kind of just ignore this panic wick from March of 2020, which was obviously a Black Swan event, we kind of just wiggled sideways. We got that big bear market rally, we topped off, bled out a little bit, and then we just kind of went sideways again with the exception of that panic wick. And I do think we are in somewhat of a similar situation here where the rest of this bear market may not be the most exciting thing ever. But for today, basically how I'm handling this, DZ, is I'm going to be kind of...