UniswapX announced, Market chat and more - The Daily Gwei Refuel #625 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of The Daily way refuel wake up latest news new theme ecosystem I'm your host Anthony 18th of July 2023 alright everyone let's get into it so Gary Gensler has I guess replied to the ruling that the uh courts uh made last week in the SEC versus Ripple case and he said that he was disappointed that the Court ruled that xrp is not a security and I quote tweeted this news and said I'm disappointed with pretty much every single thing Gary Gensler has done since becoming the head of the SEC it's time for him to delete his account and resign so I wanted to just talk a little bit about this and expand on my comments here for starters I don't believe Gary Gensler should be

disappointed in a personal capacity about this given that he is representing a government regulatory body and his personal feelings really shouldn't play into this and we know that they have been because he is in my opinion a compromised regulator he is not looking at these cases and and bringing these cases against crypto companies in an impartial way he definitely has his own agenda now what kind of lends more Credence to this fact is the fact that today as well uh I believe Gary Gensler uh said that he was uh basically going after AI companies or something like that or going after AI uh in general and trying to protect investors from AI related Securities fraud and when I saw

that I'm just like oh okay Gary you're doing exactly what I thought you were doing you're just going after the I guess like most popular thing at the time in order to get yourself in headlines and that's exactly what happened right all the headlines are now reading Gary ganslow is going after AI because AI is the buzzword right now it's a thing that everyone is talking about so when you think about it like that as I've explained before gen Zone in particular is really just doing his master's bidding and his Masters bidding is Elizabeth Warren and the reason he's doing that is because he wants to get promoted to treasury as I've mentioned before so really it in the day ganza doesn't hate crypto I don't think he really has any personal feelings towards it but it was something that was very visible for him to go after uh in order

to promote himself and to promote his uh overlords uh namely Elizabeth Warren right now obviously that at this point in time has backfired quite spectacularly I feel like the SEC not only has lost the Ripple case but has really lost uh I guess their um maybe not lost but like basically failed in their stance of doing regulation via enforcement and it's going to be down only for them from now on but of course I don't think Gensler gives a right all he gives a is about himself and he'll be superiors are happy with him even if he's losing cases right um then that's all that matters now he's uh as I said pivoting to AI or going after AI uh kind of um Securities related fraud I mean at least that's

what he says he's doing and that is just another highly visible thing for him to go after in order to get his name in the spotlight get his name in the headlines so yeah I guess uh the boogeyman that was Gary ganza seems to have been defeated so far in crypto obviously there's a lot of work left to do there's a lot of fighting left to do but the Ripple case losing the Ripple case was a huge blow for them as I mentioned last week but yeah just wanted to kind of talk about that for a little bit but moving on from that now all right so I came across this tweet thread today from etherfan uh and they said here by launching ether.fans we've introduced an Innovative way for users to stake eath generate rewards and prove their commitment to decentralization so by minting uh one of these nfts here

users can deposit a minimum of 0.1 each uh in The Ether fan protocol and mint one of these nfts and this nft represents a user's staking deposit plus any additional rewards so that's pretty cool I usually don't highlight nfts on the refuel like any singular nfts on the refuel I'm definitely not highlighting this because I I think you should speculate it on it or anything like that but it's basically giving utility to an nft ER because as I said the nft represents a user's staking deposit so essentially your ET staked and the nft represents that stake in in the beacon chain here which I thought was that was very cool now I believe this project is uh working closely um as part of the the the project that is trying to get more solar stickers on

board the one that dap node was running I believe leave and I was trying to get more people to uh all trying to to sponsor people to solo stake so yeah I just figured that that was worth highlighting for you guys to say that you can go meet this nft if you would like with eth that eat this steak and the nft will then represent uh your staking deposit uh plus any additional rewards that you can get from that so just another way to to stake here and you know I've said before that there's going to be plenty of different ways to stake and there's going to be different um amounts that you can put in and things like that that can try that can do it in a decentralized way not just a centralized way obviously right now you if you had 0.18 you could go to a

coinbase or a binance or a kraken or even buy stf or Reef right and starts taking that way but those things except maybe buying Arif aren't decentralized right so when you want to do something that in Jupiter something that is that is more decentralized that is uh I guess on the solo sticking side of things you can do stuff like this as I mentioned before there are other tools coming along such as a stakewise V3 which I'm going to highlight again in a sec uh there is Squad staking by using DVT all those sorts of things so there are more and more solutions coming online um as we as we speak really uh but this is just another one of those and you can check out this Twitter thread I'll link it in the YouTuber description below now as I mentioned stakewise V3 is

topical again today uh you can see here they have a thread where they say stakewise V3 gives stakers the power to access liquid staking from any node prioritizing control self-custody yield and decentralization and you can try stakewise V3 on testnet right now at pacific.stakewise dot IO now I have mentioned before that once this is live on mainnet I do plan to set up a deadly gray stakewise V3 volt for you guys to stake with me I'll be running the software uh myself I'll be running it as part as my part of my setup and all rewards uh well not all rewards uh the the commission that I take on the rewards uh so I don't know what it's going to be here maybe five or ten percent will be going towards funding public goods such as the protocol Guild

uh or otherwise right um as I've said that before I don't want to be taking any any kind of commission here uh so it's a way for you guys to get involved staking via someone that you maybe trust such as myself right to run these things for you in a decentralized and and I and um highly efficient way so that you actually do get those those rewards and that you don't have to run the software yourself but you know it's being run by myself uh and also any commission that is earned get that goes towards uh the um uh goes towards I I should say the the public goods funding now some people will ask well what about the running costs right I'll eat the running costs it doesn't cost that much to to run these things in terms of electricity I already have the hardware I have so much

Hardware it's not even funny my internet costs are this is going to be the same because I have unlimited internet already uh so it's not really going to be something that's a huge cost for me but I am more than happy to eat the cost in order to fund the public goods as you guys uh know there so yeah you can go uh give a read of this stakewise V3 thread going over basically all of the features of the test net which will be obviously going live on mainnet how it all works uh just to give you a quick recap guys the way it works is that it's basically a decentralized version of of Lido where essentially anyone can spin up and become a node operator well as part of stakewise V3 instead of uh having to be permission to join anyone can basically join and then anyone can bring stake in

or get people to stake with them they can run the software and it adds to the decentralization of the ethereum network of course which is all we want to be which is what we all want to be seeing uh over time all right a big announcement out of uni swap yesterday so this was announced that ethcc uh they're launching something called uni swap X which they're calling a new permissionless open source auction based protocol for trading across amms and other liquidity sources tldr over time it'll give users more liquidity better prices Mev product protection and gas free swapping so if this sounds familiar that's because it is for all intents and purposes uni swap X is basically I'm not going to say it's the exact same thing

but it's very similar to cow swap right and for anyone who's used cow swap before you'll know what I'm talking about it gives you those gas that gas free swapping that Mev protection uh gives you better liquidity better trades because it's using those off-chain orders um that unisop X is going to be using now this is all described in this Twitter thread here how this is basically achieved and you can check this out for yourself I think this is really really cool I think it's good to have more of these products and services all these types of products and services out there from trusted Brands and as I said cow swap exists uh one inch I believe has a version of of something like this I think there are a couple of other protocols as well but unisop has the biggest brand on in in D5 by far I

would say so them bringing out something like this obviously means that more people are going to be using it because the Unison brand is just so strong but this wasn't the coolest thing that they announced I believe they announced something else uh which has got to do with cross chain and they said here later this year we'll launch a cross-chain uni swap X that combines swapping and bridging into one action swappers will be able to swap between chains in seconds this includes native asset swaps reducing the need for bridge tokens now the reason why this is a bigger deal in my mind is because people have always gone on about the liquidity fragmentation issues of l2s right and I've talked about how we have plenty of solutions for that already like cross chain Bridges and and stuff like that but that the cross train Bridges they're

relatively slow still they're not you know that they can't do things in seconds it usually takes minutes to do it and if you're not in in a rush or anything like that that's totally fine uh but with this with what UNICEF is launching with unisop X you'll be able to swap between chains in seconds by using this this kind of um off-chain order book system here so essentially what that means is that if you're on optimism or op mainnet I should say and you want to trade eth for a token that's only on arbitrary one you can do that through this tool and then you'll have the token on arbitrim1 uh or I believe you could also have the token still on op mainnet it just sources the liquidity from arbitrine one and as I said the

reason why this is possible is because it's done uh off chain you sign the order and then and an off-chain ecosystem of uh of kind of I think they're called I think they're called I don't think they're called Searchers that there there's another name for it I've I've lost the name on me right now um but uh but yeah that would happen and it would happen in this in a in a way that that protects you from Mev in a way that allows for gas free swapping because the gas fee is basically baked into the price and you get better execution across the board that to me is the bigger announcement of this because it not once and for all but it solves a huge pain point of the l2s uh kind of like across liquidity um uh issues the old liquidity fragmentation issues and as I've said

before that was an issue that was that was going to be solved there wasn't a fundamental issue that would be a show stopper for l2s and uni swap has has kind of done it with unisop xci and there's still all those other bridges that are out there and people are still going to use those sorts of things I mean at the end of the day if you don't want to swap then this is going to be useless for you right for example if you want to take your eth from open mainnet to arbitrine one well you're not going to swap your eating to something else and then swap that on the other chain to back to eighth because you'll probably be worse off from a feed perspective because you'll be paying the exchange fees but also it's a tax obligation for most of us where we have to record that

as a capital gain or loss and then uh you know the cost basis is reset and it's just unnecessary tax burdens whereas Bridging the eth from op main net to arbitrine one uh will be done via these bridges that we all know and love and it doesn't matter if it takes a few minutes like I honestly I never gotten to a point where I've been frustrated with waiting even like 20 30 minutes for assets to be bridged across chains because nothing I do is that time sensitive and those uh time that that time will come down as well over time it's not going to be that long and there's also going to be other ways of of natively uh bridging between these these kind of things in into operating between them without having to do swaps but for people who want to swap people who wanted to Source liquidity from all

these different l2s and especially the people filling the orders uh this is huge this is absolutely massive and I think people are under rating just how big of a deal this is and I can't wait to see it go live later in the yell so you can check out the whole uni swap X announcement for yourself if you haven't yet I'm sure you guys have already seen it but that was my take on it you can check this out I'll link it in the YouTube description below all right eth Global has announced the hackathon that I forgot to cover from a few days ago so this new virtual hackathon is called super hack and this is Hope being um hosted from August 4th to August 16th and it is a um eighth Global event that is uh that uh that they're running in order for people to

experiment with the op stack surrounded by first movers in the ecosystem such as obviously optimism base World coin and Zora so the fact that this hackathon starts on August 4th is this when op Mainland is going to be live I hope you mean is this when base mainnet is going to be live for everyone on August 4th it could be but they said early August so I mean it fits nicely in there but even if it comes earlier or later I don't think it really matters you can still build on base as part of the hackathon because it's open to developers right now but yeah hopefully it's open to to everyone by then uh as well so yeah if you're interested in developing on experimenting with the op stack then this hackathon is for you you can now register on this website which I'll link

in the YouTube description below I just wanted to put that on your radar there all right Taiko has announced an uh something today called the eldfell L3 Alpha 4 test Nets so it's it's live right now uh this is uh taiko's first experiment with something called Inception layers and a new staking based proving design so you can see the full details in the blog post TR but also check out the Tweet thread so they're basically trying to test two key things deploying Taiko on Taiko as an L3 Inception layer basically a roll-up on a roll up and a new staking based uh a a prover economics so uh they continue here by saying Inception layers are a neat property from having an ethereum

equivalent ZK roll-up a type 1 ZK VM you guys know that Taiko is the only team building a type 1 dkvm right now it means we can deploy Taiko as an L2 and L3 in even further layers like an L4 now for those of you confused of what this kind of looks like in practice basically it looks like this this graphic here where essentially you've got ethereum as the L1 then you have Taiko as an L2 that settles to ethereum L1 then you have Taiko as an L3 that settles to Tycho as an L2 which settles to ethereum as an L1 so it's like Taiko all the way down but basically each layer up settles to the layer below it which then settles to the layer below and then settles to ethereum layer one because that is the final layer so and and the benefits of this

are obviously at the higher layers you go the cheaper the fees become because essentially what ends up happening is that you're now as as an L3 you're now settling to the L2 which uh which the L2 capacity could be filled with just L3 transactions so it further kind of expands the available block space for Everyone by by doing that and this is a design that is getting more and more traction lately not just with Taiko but with a lot of different l2s out there where they're basically stacking these layers on top of each other now of course the higher up you go I believe that there are more security concerns in doing that I think that for D5 it's probably just going to remain L2 most of the time for high value D5 least l-3s could be used for things like and l4s

and stuff like that could be used for things like nfts and crypto games and low value things uh but generally as I said the higher up the stack you go the the more security considerations there are and the and they're probably less security guarantees you get but it depends on the construction as well right it depends on how the teams do this what kind of admin Keys exist what kind of centralization vectors exist and we're going to have to see on a case-by-case basis what that looks like uh now they also talk about the staking based approver economics uh which works by managing a pool of provers which you can read about uh but yeah you can go read the Twitter thread for yourself for more information about this as well as the blog post I'm not going to read through it all here I'll link those both

in the YouTube description below but great to see Taiko continuing to experiment with more bleeding edge uh things in the L2 space with this new launch today all right speaking of the L2 space I came across a tweet from optimism which basically really bought like kind of summarizes the uh thing I was talking about yesterday with Salo moving from an L1 to L2 so they said op stack enabling l1s to return to their ethereum Roots this is the power of modular extensible scalability Tech this is the power of Open Source so there has been a lot of l1s that have kind of been created over the past couple of years maybe two three years that I believe were created because the L2 infrastructure just wasn't there and now the L2

infrastructure is there it makes sense for all these l1s that were created during that time to to come back right to transition to an L2 because it is now really easier to do that the tooling is there the help is there for you to do that the product Market fit is there because these l2s are just so popular at this point the funding is potentially there as well if you want to raise another round or something like that or sell or sell some tokens into prospective investors things like that so it makes sense for these teams to come back and you know I've spoken to some of these teams in the past and I asked them you know why did you launch this as an L1 why didn't you launch it as an L2 and they basically said well the infrastructure just wasn't there and

we saw this with something like Dy DX saying that they were transitioning to a cosmos chain or Cosmos app chain because the infrastructure wasn't there for the them to decentralize with the idea with um with stockware and at the time when they announced this I remember saying on the refuel that I believe that was a big mistake for them to do that because the infrastructure wasn't very far away and I believe the infrastructure basically got to the point where dyagdx could use it instead of creating their own app chain and me out six months later I believe uh and it's actually going to be funny to see if DIY dex end up pivoting back from a Cosmos app chain to an L2 design using one of these modular Stacks whether that be op stack or otherwise in order to to kind of run their app app

chain as an L2 uh instead of as a standalone kind of sovereign chain as part of Cosmos I would actually put good odds on that happening at some point in the future I I don't know if it's bullish or bearish because there's just been so many pivots in doodx's life they are early to be fair or have been early to be fair but but yeah I remember I remember mentioning that but I'm going to be curious to see what other l1's transition now to these l2s I think some of them will do it as a pure opportunity Mystic thing where they believe that transitioning to an L2 will be good for their asset you know their native asset but some of them will do it because they really just wanted to be part of the ethereum family but couldn't at the time so they created their own L1 or their

own side chain and now they're coming home uh there was another thing that got announced yesterday that I that I wasn't going to cover today but I think it's worth mentioning that I felt was a bit weird so gnosis has their own chain called gnosis chain it's effectively an L1 I mean it's it's pretty much equivalent to the polygon POS chain I would say um and they have their own token called gno that validates the chain and it's basically a fork of the beacon chain as well so they use the same infrastructure there but they announced something yesterday called gnosis pay which is a a kind of like new payments infrastructure that's working with with a Visa card that you can get and basically pay with crypto but they're building it as an L2 on top of gnosis chain so they're using

polygons infrastructure to build an L2 that lives on top of gnosis chain and they're also calling gnosis chain the second most decentralized chain after ethereum which I felt was pretty gross because that is completely untrue that is literally false um they say they have like a hundred thousand validators well that's because it costs basically nothing to validate on gnosis chain and the number of validators that it's not equal the number of decentralization especially from an economic security point of view so I I that rubbed me the wrong way and that's why I wasn't going to cover it but I do wonder if gnosis chain is going to transition to being an L2 on top of ethereum and then that gnosis pay thing will be in L3 on top of that L2 because it doesn't really make much sense for

gnosis chain to remain a side chain or an L1 it makes much more sense for them to transition to an L2 even if they become just a validium and not a roll-up like what the polygon POS chain is doing um yeah it makes a lot more sense in my mind but we'll see um I I know that uh uh people have their different reasons for launching l1s and things like that but we'll see if they come home I hope they do because notice there's a lot of great stuff for the ecosystem and launches a lot of great products but I felt it was weird that they launched this new product that I consider to be very exciting uh but they launched it on uh gnosis chain which I've always felt was extremely uninteresting uh and they've launched it as an L2 on gnosis chain which I found extra weird as well

because I know some of the people um at gnosis at least the higher ups were very bearish on l2s and now suddenly an L2 is good because it launches on gnosis chain I don't know I don't know I don't want to fight anything here but I do hope that nurses chain transitions to being an L2 on ethereum and then that gnosis pay can be like an L3 on top of that uh there all right so a big announcement out of the chain link ecosystem today so you can see here that chain link God shared that chain link ccip is officially live on mainnet with synthetics and are there as the first users supported change trains at launch include Avalanche ethereum optimism and polygon for secure cross chain messaging and token transfers and you can see here the

features of ccip include arbitrary message passing uh simplified token transfer programmable token transfers active risk management Network token transfer rate limits smart execution time locked upgradability and more so basically CC IP is is trying to be a a cross-chain infrastructure between all of these different chains evm change to start of course and basically allow for things like arbitrary message passing token transfers all that good stuff that I've talked about in the past and it's just another solution for doing cross chain uh basically Communications and I think the reason people get so excited about this is because it's not just doing token transfers right it's doing arbitrary message passing it's doing um

uh things like smart and execution and and token transfer rate limits for extra security time lock upgradability uh time locked upgradability and things like that and you can see a few examples here that chain link God has uh has shared and I'll link this tweet thread in the YouTube description below uh for you to check out of course but yeah exciting stuff out of the the chain link ecosystem here I've been hearing about this ccip thing for a little while I don't think I'd covered it on the um the refill before what it actually stands for is cross-chain interoperability protocol which I guess is pretty self-explanatory given that I was just talking about that um but yeah I'm keeping a close eye on this now that it's live on mainnet and I'll keep you guys updated on how things uh progress on this front all right last up here just a shout out

that uh a reminder here from uh uh from Xerox ngmi who says reminder to disable batched requests on metamask it's enabled by default and it leaks all addresses on metamask to any RPC you use making it possible to link all of your addresses together to disable go to settings security and privacy batch account balance requests yeah this is kind of shitty that this is enabled by default to be honest because if you're using any RPC out there doesn't matter what it is and you have all of your addresses uh in metamask such as your hydrovalid addresses or your hot wallet addresses on minimize doesn't matter what address it is it will send all of that to uh the RPC and then that can be correlated and all of

your addresses are basically docked docs to whoever has access to that data on that RPC uh and then that data could be unsold depending on the RPC that you're using so not great disable it if you use metamask I'll link this in the YouTube description below if you forget uh it's under settings security and privacy batch account balance requests uh here but yeah as I said I'll link it in the usual description below now of course uh to round out today's episode I wanted to talk a little bit about price now I don't usually do this but of course I'm talking about it today because I have gotten messages over the last couple weeks uh I guess like the last week especially because I have made comments on Twitter before that I don't think that the bull market is going to start until sometime next year and then I'd

even put a more accurate date on this recently where I said I don't think we're going to get new all-time highs on Ethan BTC until the second half of 2024 so next year and I want to break down the reasoning as to why I believe this so you can see the chart in front of me here I've got the last uh well I guess like the the the the last cycle and the current cycle or at least the Krebs cycle uh uh in in kind of these brackets yeah and and in these kind of like defined ranges here now I've talked about this before where I basically said that price stays in a defined range for quite a while in a crab market right once it's bottomed it tends to stay in a nice range here now you can see the last cycle and I'll kind of zoom in here for

you guys to see this so this is the cycle from basically the end of 2018 or towards the end of 2018 to Midway through 2020 and this shows the defined range that each sat in for a very long time this is the weekly chart so it may not look like a long time but it is and the reason why I've drawn on the kind of like lines in this way is that what this wasn't the bottom here in September 2018 right this was like it was at 300 but the reason why I've drawn it like this is because that was basically the top of the range on the weekly chart last crab cycle and then the bottom wasn't really 80 because didn't spend much time there you could argue that the the um the bottom of that range was uh around 110 but we can just say it's a hundred

dollars for for um for for our kind of like ease of um either discussion here so we'll say that the fine range was 100 to 300 basically on the weekly chart you didn't want to see a hundred dollars broken right you didn't want to see a weekly um price closed behind but below 100 again and you wanted to see a weekly chart close above 300 in order for the uh range to be broken here and that's exactly what happened but but not before a lot of turbulence so from where this range started this 300 range started here until when it was broken 686 days were passed so it took 686 days for Eve to break that range from when it um it started it now if you take it from

the bottom which was 80 it took eighth uh what 588 days to break out of of that range there now that that range was also influenced by two things that don't exist in today's market so the first thing was something called a plus uh the plus token Ponzi which was a Chinese uh run Ponzi that uh that accepted Ethan BTC and the founders were originally arrested but it raised like billions of dollars and that influenced a lot of this this pump yarn that's why eth went to 360 here you can see but didn't close above it right you can see here with 360 in June of 2019 but then came back below it and and the weekly closed under this

line here I did not close um you know above 300 and then the second kind of pump and dump you can see here was the covert thing right at the turn of um the year here in January of 2020 he started going up again it shot up really fast it went from it began 2020 at 126 and it um in by uh 17th of February so only six weeks later it was almost 300 so that was a it was a very fast Ascent to their faith but then of course the whole covert dump happened and Heath absolutely tanked from that uh down and retested eighty dollars it went to nine dollars but then came up from that again and did not close a weekly below a hundred dollars so that range was still respected right now this isn't although I should mention this is not

really technical analysis this is kind of like rudimentary just range analysis I guess um but then from then uh from March 2020 it took another 126 days until July 2020 for each to break out of this 300 range now of course it didn't break out out of it and then not come back to it it did retest it you can see here it retested it a few times but then the rest is history from there now if we want to say when Heath broke out of that range to when it actually hit a new all-time high it still took a while so from the range to Breaking the old all-time high of 1420 it took around another 189 days so it took pretty much the rest of the year uh basically another six or seven months

to break into a new all-time high and then to set the First new all-time high from there of 4400 it took another it took around 300 days to do that there now if you want to measure from the bottom right the last bottom which was eighty dollars to Breaking the all-time high again so breaking the previous all-time high again it took 777 days right it took a long ass time now we look at the current cycle right and I'm going to power through this because I've gone over time here the current cycle where where we where are we now okay we bottoms right we bottomed at 800 180 on the chart since then it has been 399 days now keep in mind it took 777 days to go from bottom to

previous all-time high again so okay what would that look like if we were to draw that out here 777 days from the last bottom to Breaking the all-time high again would be July 2024 second half 2024. that's where I got that number from all I did was look at the range from the last cycle I took it out I took the measurement out I calculated the days and I said you know what this looks like it's actually going to happen like this because if you go to the BTC chart which has more data this range uh this kind of like range and cycle has been respected before not to say it's going to play out exactly the same but that's how I came to that conclusion now in terms of how long we've been in this range uh We've basically been in it as I

said for about 400 days so if you want to um see how many days we've got left till till July 2024 it's another yeah basically right um I should I should have been able to do that off top of my head since we're in July right now so it's still another year that's not to say we can't break out of this range before that if you want to to measure out how long it'll take us to break out of that range based on last cycle as I said you measure from the bottom in the last cycle and you say it took 588 days if you measure it here I think it works out to the end of the year let me have a look 588 days yeah basically Jan of next year was when we would break out of this range and the range that we're currently

in is basically it's basically a thousand dollars to like two thousand dollars but it to me it actually goes higher than that it goes to maybe 20 like 2500 but I haven't drawn the lines up there I think if we were to close above 2000 on a weekly chart that'd start looking really healthy so we can say the defined range is basically one to two thousand dollars here so if we broke out of that and closed above that uh right now it wouldn't have taken 588 days it would have taken for uh I mean let's let's say it takes an another few weeks to do that it would have taken maybe 400 and something days right but the covert dump here actually distorts these things a lot of your people believe that if the

covert dump didn't happen we would have broken out in in Feb March right would have broken out of the rank in in Feb march here so let's assume that we did do that what would have looked like last cycle if we broke out of the rain chart it would have been 434 days right we are almost at 434 days and we are pretty much uh we're at 1900 right now so we're pretty close to 2K so what does that look like well it looks like that by August we would we could potentially be breaking out of that out of that range there uh and and and and and starting a new technical bull market do I think that's going to happen eh I don't know not every cycle is exactly the same they rhyme they don't repeat but I could see us still being stuck in this range for

the remainder of this year at least or at least the majority of the remainder of this year but that is okay too but at the same time man this this chart looks pretty good to me right I I mean I'm not a chat guy but the chart looks pretty good to me that we're we're kind of uh hovering up up around here a lot of the fears around what would make the price dump have been subsided uh yeah I don't know I I'm I'm always bullish but I'm feeling particularly bullish lately maybe that's a bad sign maybe we're gonna dump from here but generally my kind of play for the next 18 months at least is the rest of this year will probably be crab market action if we do break out of the range we're probably not going to go much higher than that uh next year will be

will be climbing that wall of warri to get to the previous all-time high and then the bull market in terms of retail Mania will start in Earnest in the second half of next year and probably continue into into 2025. that's how I'm kind of playing it and in terms of how I'm positioning myself I'm not really buying anything anymore I pretty much bought everything I needed to buy at this point I'm just waiting now um and this none of this has been investment advice but that's how I play these Cycles I always play the long term stuff I never play short term stuff um long-term cycles for me load up when it's like this in these Define ranges sell when it's like basically rpr where things start getting real crazy right like you can see I've just highlighted it on my chart here in the yellow when

things start going parabolic uh you do have quite a long time to actually offload I mean if you want to measure it from basically uh I don't know here are to here you have like a yeah if you want to take a conservative approach here to to offload at the kind of like higher prices but I mean it's all personal preference it all depends on where you want to sell what you're comfortable selling but my advice has always been set yourself sell limits set yourself prices where you're going to sell Pro take profit and and just remember that at the end of the day you sell when you sell and then you don't look back uh from there but as I said it's not investment advice it's just my thinking my uh kind of like a way of looking at these things and I hope that helps you

guys for the upcoming bull market but on that note that is going to be it for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to newsletter join the Discord Channel and I'll catch you all tomorrow thanks everyone