Transcription
The best month for Bitcoin dominance on average, right? On average is October. And the social risk is really low right now, right? There's not a lot of people interested in crypto. 94% draw down, 86%, 87, and then 84, 77. It's one of those things where in order for people to get what they want, the dominance has to go back up. It has to go where they don't want it to go. Uh when you look at the ROI from the low, that's one metric. If you measure it from the peak and you go peak to peak, you can also see we're getting kind of far into the cycle.
Guys, welcome back to the channel. Today, I'm joined by Ben for a follow-up conversation we had in April. Damn, time flies. Something many, many of you requested. Thank you so much, Ben, for being with us today. How you doing?
>> I'm doing great. Yeah, I mean, uh, April feels like a long time ago now, especially where the, you know, where things were back then with, uh, Bitcoin and Ethereum, but it's good that things look a little bit better today than they did back then.
>> Yeah, 100%. But before we jump into it, guys, remember if you find this content valuable, remember to slap the like button, subscribe to the channel, and most importantly, check out the sales on into the cryptoverse premium over at into the cryptoverse.com. And I know I'm stealing a line there, but it's worth it. So Ben, where are we in the cycle? What the hell is happening with Bitcoin, man?
>> Yeah. I mean, like we're I I think we're getting close to the end of it, but you know, if you measure if you measure the ROI from the low, from the high, from the having, we'll look at ROI from the uh we'll start from the low. Certainly, we are pretty, you know, we're getting pretty far along here. Um hopefully we can get another move uh into Q4. Uh normally, Bitcoin tops in Q4. So if you look at at all prior market cycle tops, the tops were in Q4 of the post having year and so there's chance that this time will be no difference and that we could get another Q4 top. I I think right now we are experiencing general seasonal weakness uh by Bitcoin. It's very common around you know sort of late Q3 to get this weakness. Um so it makes a lot of sense. One of the things, I don't know if I mentioned it on the last time we did a video or not, but one of the things that it felt like we needed uh was for Ethereum to hit all-time highs uh for the cycle to feel more complete. Now, it did that. It it hit new all-time highs uh since we last spoke, and it and it did so after Ethereum went home, but I I still think there's a little bit more left in the tank uh for Ethereum. And and so if there's more left in the tank for Ethereum, I think there's probably a little bit more left for Bitcoin. We'll see. But back in April, you know, we were talking when Ethereum was down here, right? And now Ethereum has has run to new all-time highs. But you know, on on the first approach, it made sense to assume we would be rejected by it. And just because you have all the buyers from over here that are going to want to break even, right? They're they're done waiting. They need to get out. they have other things other things to worry about. But right now, I mean, I I think Bitcoin has has gone into this correction because some of the frothier stuff started moving a little bit too much and you're likely going to witness Ethereum check in here with this 21week EMA and then after that it it should go to new all-time highs. What I would say generally is that as we get into Q4, I think it it would be prudent for people to start thinking about, you know, the the highs could actually be the high uh for a little while. It doesn't mean that Bitcoin won't ever go past it. It probably will next cycle, you know, but it's just something to think about going into into 2026. And so, just don't become complacent. And and some of the indicators, I mean, I use risk metrics and whatnot to navigate things, but some of their other interesting metrics to try to give you an idea of where we are in this cycle. Look at um, you know, the 50week moving average. As long as we're trending above that, then there's there's reasons to be optimistic. Just like back over here when we talked in April, you know, Bitcoin held the prior all-time the prior cycle high. We're now right now we're testing, you know, the cycles highs from from back in in January. But I but I would still say I until Bitcoin gets a weekly close, two weekly closes, because one weekly close won't do it. two weekly closes below the 50week moving average, then then we have to accept the cycle's over because every historically that's always when the cycle was over on on a couple of weekly closes below that 50week moving average. You can see this entire cycle hasn't happened, right? We've had some wicks, no weekly closes. Right now, the 50we SMA is 99K. So, it's going to be 100K, which makes it kind of easy because I can just sit here and say to you that from from starting now for the next, you know, 6 months, whenever we get two weekly closes below the 50we moving average, that's probably a sign that the top is in. The the the, you know, the the final moves historically have been in Q4. Once we get into Q4, it it's it's reasonable to to start thinking about about cycle tops.
By the way, uh when you look at the ROI from the low, that's one metric. If you measure it from the peak and you go peak to peak, you can also see we're getting kind of far into the cycle. Uh and if you measure it from the having, you can see that we're getting kind of far uh into the cycle. So, I I just think that, you know, it's been a great it's been a great cycle for Bitcoin, even though I feel like for some people it doesn't feel like it. Uh but it has been a good cycle. Um hopefully we can get, you know, hopefully we can finish strong. And if if you don't time the top exactly and and you're wondering, you know, if you're looking for confluence, just remember on weekly closes below the 50we SMA, no matter where the top was, uh just be willing to accept the cycle's over whenever that happens.
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Comparing to the previous cycles, how do you think we are doing? Because there's been a diminishing return of course, but how bad was it or is it so far?
>> I mean, like it's it's honestly not that different from what I would expect. I think the reason the cycle feels different to people is because altcoins haven't performed. Uh but it's relevant to remind people that a lot of times the cycle is like this, right? Like Bitcoin leads the bull market and by the time the altcoins start really outperforming Bitcoin, that's usually a sign that the cycle's over. So, you know, I know there's been a lot of people calling for alt season and whatnot for the last few years, but you have to remember like when alt season happens, assuming that it does, when it happens, it it's a sign that the cycle is likely ending, you know? So, it's one of those things where like be careful what you wish for because if you do see Bitcoin dominance crash in Q4, I don't think it's going to crash in early Q4. I think dominance is going to go up in October, but you could see it crash a little bit later on in Q4. If that happens, that's your warning. That's your warning sign right there. Uh that that you need to you need to start you need to get out of altcoins. Uh you can hold Bitcoin through the bare market if you want to. uh and and you know just if you want to hunker down in that but usually when dominance after dominance crashes is is you want to be running for the hills away from the altcoin market. So just keep that keep that in mind. Again I know the cycle feels different. You know one of the reasons the cycle feels different is because a lot of people were here last cycle like in 2021 where altcoins were outperforming Bitcoin for like a year or something ridiculous. But we had a lot of QE and we had low rates. This cycle is structurally and fundamentally more similar to the 2017 cycle, right? It's more similar to the 2017 cycle. And in the 2017 cycle, you know, we still saw Bitcoin dominance getting rallies even in Q4 of the post having year. In fact, that was when altcoins uh struggled a lot in October of post having year and they ended up bottoming out in like November, December and then we had alt season. So just remember the cycle is actually playing out pretty normally if you incorporate diminishing returns. Altcoins have not joined in on the rally uh in the way that people would have expected. But remember most altcoin gains are usually concentrated within a one to two month period and and then that's it and then people spend the next four years thinking that that's the norm when it's really just something that happens like you know for a month or two every four years.
>> Yeah, I completely agree. There is a healthy or not healthy depending how you see it rotation from let's say people have done invested into Bitcoin they want to rotate into alts and then it goes into a fountain of profit right you can call it al season rotation whatever I agree with you and it's funny I'm enjoying every single one of your reply on Twitter saying hello hello because you were saying this is Ethereum season and everyone was calling for our season
>> I know I uh I it's easy for people to bait me into responding and I I know that's what they're doing Um, and I don't care. You know, I think a lot of people think that they can just respond with, you know, all these comments back to me about like, "Oh, you're wrong about this. You're wrong about that." And they'll think I'll forget, but unfortunately, I I can't forget it. Um, so I I'll like to go back and and I I just want people to to be, you know, to learn from their mistakes. I want them to be held accountable for their views. So that like when they post future views, they're not just appearing like they know everything when you can look back and see like, you know, all these things they said I was wrong about ended up being correct. And I get things wrong, too. And when I do, I try to acknowledge it. I'll make public posts on Twitter and say, "Look, I was wrong about this." Uh, I think the space would be better off if everyone did that.
>> By the way, funny fact about September 26. I've spoken to Cryptob a while back and he said that on average September 26 is the worst day for Bitcoin ever in terms of price. We've seen the prices correcting down and you talked about Q4. What are you expecting exactly? Do you think we will top and then go into maybe a mini alcoin season then potentially enter the bare market in 2026?
>> Generally speaking, yes. I I think that in order in order to get optimistic about an alt season, we first need to see Bitcoin convincingly bottom within the next few weeks, we need to see it rally and we need to see Bitcoin dominance rally with it. If if those things can happen, then it would pave the way for altcoins to outperform Bitcoin uh you know sometime in the November December time frame. If what I said does not happen, then then you have to be willing to say that there might not be an all season. But I think for now, I think for now, I I really do subscribe to the view of if it's not broke, don't fix it. Right? If everything so far this cycle has played out like it always has. And it's hard for me to say that you can't have it. You know, I a lot of I've gotten a bad rap in the a bad rap in the in the altcoin space generally because I I do I've been pretty bullish on on Bitcoin dominance for most of the cycle. Although I did think we would have this correction that we had off of 66%. But I I actually think dominance is about to come surging back. Uh and that's not a popular view right now. Uh but it it the funny thing is that if dominance were to surge back like a lot of people don't want that to happen, but that happening would increase the odds that they get an alt season that they want, right? So, it's one of those things where in order for people to get what they want, like the market, the dominance has to go back up. It has to go where they don't want it to go, right? If dominance just crashes from here without another rally by Bitcoin, it just means you're going to have a very pathetic altcoin season. You know, it's it's it's just going to be what you've seen for the last couple years where like, yeah, maybe they go up a little bit, but it's not what anyone wants or or remembers what it what they remember it actually being. So, and and that was what I said about the ETH Bitcoin valuation back in, you know, back in earlier this year when we were calling for it to to crash go, you know, go home. As I said, in order for the ETH maxis to see ETH Bitcoin go up, they have to watch Ethereum crash first. So, that that's kind of where we are with with sort of an alt season. In order for that to happen, like people want, then we need to see liquidity flow back to the to the king for now. And if that happens, then then maybe they can finally get what they want in a couple of months.
What is the dominance telling you at the moment? Do you have some key levels you are measuring? You are checking.
>> Well, normally dominance bottoms out in September, especially in bull markets. I mean, even in 2020, it bottomed out at like basically the exact same level, right? The exact same level. And also, it found a low in like the month of September. In 2017, you can see it carved out a low in the month of September and then it rallied all the way back up, you know, to like 60 high 60%. Last cycle, it rallied into the 70% range. All I'm saying is a lot of people want dominance to just go down now. What I'm saying is it's going to go up first before it goes down, right? That's what I so I think path is important. And so that that's what I think people should watch for. So So what I'm looking for for confluence of my views and and it's already playing out. What I was what I was looking for is that as Bitcoin corrects, you want to see Bitcoin dominance go up. And you're seeing that, right? Like Bitcoin is corrected. you're seeing Bitcoin dominance go up. I don't know exactly where the low is going to be, but whenever Bitcoin catches a bid and starts going back up, dominance should continue to go back up with it. Okay, so that that's what I'm looking for. As long as that plays out, then I I still feel comfortable, you know, with the views I've expressed. As far as the exact levels for dominance, I don't I don't even necessarily have a specific level in mind. It's more of a time thing. I I think Bitcoin dominance is going to go up until early November. Okay, it could get a brief correction in November and then maybe go up again, but I I think that it makes sense to be bullish on Bitcoin dominance for the rest of September and all of October. In fact, October since you were talking about, you know, like the best or the worst day of of the year for Bitcoin was what, like September 26th, the best month for Bitcoin dominance on average, right? on average is October and it's not even close. Like it's not even close. On average, Bitcoin dominance goes up 5% in October. Now, there's a big standard deviation there. So, it doesn't necessarily have to go up, but you could argue that to within one standard deviation, Bitcoin dominance, you know, 4.8% plus or minus 5.8. So, to the downside, you're looking at like worst case scenario. I mean, obviously worst case scenario is a lot worse than what I'm going to say, but like realistically to within one one standard deviation, the odds are that Bitcoin dominance, it could drop 1%. But it could also go up as high as as um 10.6%. Okay? So, if you were to look at that spread, let's say down 1% would still put it at 58, but up 10% would put it basically back near the prior highs, you know, and a lot of the prior bull markets when they, you know, when they finished, you saw Bitcoin dominance getting that final rally kind of into into the end of the year. And so I think there's a really good chance you're going to see Bitcoin dominance get one final rally for the cycle uh for the next let's call it six weeks.
>> Makes sense. And then only after there will be a correction, hence alcoin season, right? Like you said,
>> right? So that that's how you set alt season up is is to get a rally by Bitcoin where dominance goes up and people really capitulate their alts and and and then and then you could actually get it. But again, there is no guarantee. I mean, a lot of what I said has to play out for me to even develop the alt season view. I I've just been I've faded the alt season view because I know that Bitcoin leads the bull market. And if if you're calling for alt season in the pre-h having year and in the having year and in the first half of the post having year th those people are basically saying this time is different and because when alt season happens the cycle's over.
Is there any indicator in particular besides the one you mentioned you would like to track on today the fear and greed was at 28 which is quite remarkable because if you think about Bitcoin chilling over 109 and people are in fear
>> I do a little bit I also have some other metrics as well we have like risk metric um let me let me pull up yeah I mean right now Bitcoin sitting at the 21week EMA the 50 weeks a little bit lower but I mean it it's still holding for now and I I think the window of weakness for Bitcoin is just the rest of this week and and maybe going into next week and then hopefully after that it can it can pretty soon uh find a low and and hopefully start to build off of it.
I want you to pick your brain on one thing because I I was talking to Da Vinci the other day and I said, "Hey, you know, the market feels like he wants to punish the majority of the participants, right? So, and everyone is expecting Bitcoin to top at the end of the year, Q4, October, November or December. So, could it be that we will see a rally into maybe Q4? Many people are going to take profit because they're going to think, oh, this is it. It's finished."
>> And then this thing is going to pull out. people are going to fall back into it and it's going to crash basically.
>> Yeah, I mean it it it very certainly will and that's why I feel like as we get into Q4, don't don't become complacent because it's going to be a mind game, you know? I mean, everyone wants to no one wants to be the one holding the bag, right? Uh, by the way, here's the here's the risk metric. This is one of the metrics I use. And what's really interesting this cycle is that we've had levels of of interest, but we haven't had euphoria like in prior cycles. So, that's really interesting that it hasn't played out like that. I mean, I I guess it doesn't necessarily have to become euphoric, but hopefully it does. What I would say is if if there's still no Euphoria by the end of the year, then there probably won't be. But the time frame for Euphoria to rot to arrive is, you know, in Q4. That's when it historically arrives. So hopefully we see it happen. I mean, and some things, I mean, Ethereum Ethereum got a little bit more more euphoric. It was actually I I can't remember exactly how high it went, but it got into like that 7. I feel like it went all the way up to like 7 something risk. Yeah, like near 75. So, that one got kind of high. I I think Ethereum will get another another move. But yeah, these are the metrics I I typically use. Uh the fear and greed index is basically when when you get to a point where the fear and greed index is low and you're not getting rallies, that's usually a bad sign. So with the fearing gate index coming in low like it is hopefully we start to see Bitcoin pick up soon uh because if if Bitcoin can't then it it might be a sign that that things are starting to turn.
How much this do you think is attached to the fact that maybe now we have institutions and you know the retail crowd doesn't want to be involved with Bitcoin anymore because it's too expensive. Hence why maybe they will turn on Ethereum saying hey I can't afford Bitcoin at the moment so I'll put my saving into ETH. So maybe we will see those euphoria playing more into Ethereum as opposed to institution strong and steady buy maybe even changing the cycles themselves. I know we say this all the time but if there was a time for the cycles to change well I mean we have institution involved now so maybe that's the one it's possible. I mean I I think that there were a lot of people that made that argument for Ethereum back in 2022 and we still saw Ethereum bleed to Bitcoin for three years. So like it I feel like that that argument is more likely to have legs now than back then just because I'm I I think Ethereum will go up against Bitcoin. I I think in the short term it's going to go down but then in a in a month it should start going back up. I I think in general a lot of people a lot of new retail investors might have that view. I got to I have to believe that if you've been here for eight years or or even since last cycle, that view shouldn't be the pime the primary view at this point because you know a lot of people lost a lot of Satoshi's by by buying altcoins and then just bled the Bitcoin and they bought those altcoins because they thought oh everyone else is going to buy alts and not Bitcoin and then everyone ended up buying just buying Bitcoin and Bitcoin did well. So yeah, I I mean I think that narrative might have legs, but usually that narrative has legs when a lot of new retail participants arrive and we haven't seen that yet.
>> I was about to ask where do you think retail is? Because like you said, we haven't seen euphoria on Bitcoin, right? So maybe they are waiting for the other leg to come in.
>> Social interest is really low. Like I I think to some degree like a lot of people a lot of people in or people that were in crypto I think they just got tired of of you know being rugged with tons of meme coins and all this stuff and I I think that was a really tough time for for a lot of people and I don't think people want to come back honestly. I think that if if they do come back it'll likely be on maybe after Ethereum hits alltime highs. I I don't know. I don't know. I mean, this has been the kind of like a headscratcher cycle because you keep think people keep thinking retail is going to come back and they just keep not coming back. So, it is it is something to keep in mind and I I do wonder, you know, what that says about Q4 if we're now sitting here almost October and we still don't have, you know, a lot of interest in crypto. It's very different than 2017 in that sense because in 2017 in September, there was a lot of excitement in crypto. Everyone was excited and we're not really seeing that right now. So hopefully things change, but it it hasn't it hasn't changed yet.
>> I agree. And I assume you, like me, are expecting a correction at some point, right? So how hard do you think it's going to be? Are you expecting another 70% at this point or you think it's going to be milder?
>> I think about 70%. If you look at at all the prior corrections by Bitcoin, they've all gotten a little bit more bearable. 94% draw down 86% 87 and then 84 77 I think the next one probably about 70 right from whatever the cycle top is. So you know if if the cycle top's already in which again hopefully it's not. If it is already in then that would put Bitcoin at 37K. But let's be optimistic and say, well, what if what if we can connect the dots on on this, right? And and let's say it it rallies back up to this trend line. Uh then, you know, maybe if you go 70% down from that, that would put you at at like maybe around like 50k, right? So, I mean, it really just depends on whatever the cycle top is. But whatever the cycle top is, I would argue is you're going to get a 70% draw on from that.
>> I think now the sentiment is really bad. So, I don't think I agree. I don't think the top is in yet. And depending on how high we go and how fast probably we can determine then how quick we're going to drop down, right? Because if the top is going to be 150, that's not a massive rally on the way up. So maybe diminishing return are going to apply also to the drop itself, right? So maybe there is the argument, okay, well we went up less, hence we're going down less.
>> That's how it normally works. Diminishing returns leads to diminishing losses, you know, and no one likes diminishing returns, but diminishing losses don't sound so bad. Exactly.
How are you preparing for the Q4? Are you going to sell some on the way up? Are you DCAing out? What's your strategy?
>> Yeah, I mean I I'll sell some. Um I I think it makes sense to like I have I have an Ethereum position as well. I'll probably I'll probably get rid of that before I would say sometime in the next three to four months I'll get rid of it. But in the short term, I think Ethereum will go back up to alltime highs after it tags 21 week EMA. I I think like if you just if you've been buying crypto for the last like however many years, if you if people just set up some type of like strategy to take profits if things are euphoric starting somewhere and say Q4, I don't think they'll regret it. You know, normally things just get crazy and and and then 2026 ends up or the midterm year ends up ends up being a bare market. I would say what I normally do at the very least before mid January 2026, I would convert altcoins to Bitcoin. And then, you know, depending on on your conviction on whether 2026 is a bare market would determine how much Bitcoin you actually want to hold. But at least you could get rid of the altcoins and go back to Bitcoin. That would be an easier thing to do if by if in four months Bitcoin dominance is back below 50%, right? Like if if dominance were to crash to like 40 something% it'd be super easy to get to just get you know convert all your alts back to Bitcoin and then you know whatever your conviction is on a 2026 bare market leave that amount of Bitcoin. So like if you're like if you're 90% sure that we're going to have a bare market in 2026 then maybe you keep 10% of your Bitcoin, right? If you're only 50% sure maybe you keep 50% of your Bitcoin. just probably based on your own conviction as to will this time be different or will it just be the same?
>> I love what you say all the time. You know, your altcoins are bleeding versus Ethereum and or Bitcoin because the thing is
>> not your I don't I don't ever talk about anyone's specific alt.
>> Exactly. Not your alt some of them.
>> Yeah,
>> exactly.
>> Everyone else everyone else's altcoins
>> when you use Bitcoin as a base money to measure how your trading is happening. Because even if you say I don't trade but if you sell some Bitcoin to buy Ethereum you are trading one asset for another. And when you measure the base as opposed to dollars Bitcoin or Ethereum it changes quite a bit right so you have to be strategic especially like me sometimes people cast me in the comments oh you don't sell Bitcoin I'm all in how am I supposed to be living like I have no fiat under my name so I have to be strategic.
>> You you have to be practical right I mean at the end of the day no one actually wants to to to hold through an 80% drop right like no one actually wants to hold through something like that. So, I'd say, yeah, just be be practical and and people have to live. You know, I saw a post recently where someone said they don't want to sell their Bitcoin, but they're want to start a business. And in order to start a business, they have to have funds. And in order to have funds, they have to sell their Bitcoin, right? So, a lot of times people just sell it because they have to sell it, not because they want to. They just need it need it to survive. It's the same, you know, if you look at a lot of different crypto projects. a lot of the uh projects the founders uh well the found a lot of times the founders just do it to get rich but there are you know there's foundations and whatnot that will occasionally sell uh to just fund development right like maybe they don't want to sell but if they want to keep paying their developers they have to sell at some point otherwise I have nothing to pay the developers with
>> I don't know I mean I've spoken to a bunch of people in Dubai also and they are saying oh I have a lot of Bitcoin but I have broken underwear I live into a cave I mean your lifestyle should that's my opinion reflect your your wealth so if you manage to buy a bunch of bitcoins back in the days and you are in profit. I mean there's no harm in taking some and free time. Do what you love. Stay with your wife, kids, husband, whatever that might be.
>> Yeah. And if you if you do have a significant other and I think a lot of times what happens is I mean we know that crypto is like 95% guys. I know it because I look at my YouTube channel stats, right? Uh I think a lot of times what happens is, you know, one person wants to put money in crypto and the other one doesn't. and they, you know, like a lot of times it's the guy, but not always, will put a lot of money into crypto, but they'll never sell, right? So, for the other person, all they see is this black hole where money goes and nothing ever comes back out. And so then, you know, in in midterm years, then that person has to be like, "Yeah, like our portfolio is down 80%." But if if someone occasionally takes profits, especially on like altcoins and stuff and then says, "Hey, look, like I put this money in and we just made, you know, like however much money, then that per then their significant other can then start to come around to the idea of like, all right, maybe there is something to this investing thing." But I feel like a lot of times what I see is people just throw money into alts and and they never get a return because they they never sell, right? They'll they'll round trip everything and they'll they'll go through these emotions where they'll be euphoric and then they'll be really sad, but they never actually learn their lesson. So, I think the way you got to do it is if you're up a lot, you know, at the end of post having years, there's nothing wrong with selling some just so you live to fight another day.
>> Do you mind giving us a a quick tour on the platform because I know you have a cryptoverse premium. So many beautiful charts there. We've got a lot of different charts for a lot of different cryptocurrencies and and you can even filter as well. Like if you just want to know about your altcoin, uh you can say pick a certain altcoin. Let's say you're just interested in Ethereum, you can click on Ethereum and then it'll show you every chart on the website we have for Ethereum. And then we also have it we also have a ton of stuff for macro charts as well. Uh Tradfi and then we also even have like, you know, a macro dashboard where you can see a lot of the the big events coming in. you know, you can just kind of stay up to date on on everything going on. We even have some other stuff, too, like we have these risk dashboards like price risk, onchain risk, social risk. Again, the social risk is really low right now, right? There's not a lot of people interested in crypto. So, we'll see, you know, we'll see if that changes. But if you scroll back and you look at the social risk and say like, you know, December, January 2017, 2018, you can see that the social risk was a lot higher, right? When you see that, usually you need to be getting out of the market, right? when the social risk reaches these extreme levels like in at major market cycle tops. So that's just, you know, something to watch for as we get later on in the year. If if retail doesn't return, then I don't know. I mean, I you know, maybe then we have to we have to go back to the drawing board on on that and say, you know, I mean, it could be the asset class is maturing and and you just are going to have the blue chip start to to just take over a majority of the gains. And and one of the reasons why you'll you might just see Bitcoin continue to do better than other things is because retail just hasn't come back. And you know the liquidity going into altcoins just keeps getting spread thinner and thinner and thinner. So again, it's just a reminder of why things like Bitcoin dominance uh that sort of stuff is important. And then we also they they recently moved stuff around, but we also have a a workbench where you can take like basically any indicator on the website and add it onto this chart and then you can perform operations on it, right? So like if you're if you want to look at some random metric, you can pull it up, right? So if you're curious about Bitcoin dominance without stable coins without stable coins, right? You can pull that up. Uh and then you could add on, you know, just some other random stuff and then you could perform operations between those two, right? I wasn't planning on showing anything specific, but it is something that that can be done. And like in this in this way, you can see this is like M1, this is M2. So if you want to add a metric, you could say, "All right, well, I want to take or a formula." You could then take, you know, Bitcoin price divided by Bitcoin dominance. Obviously, that makes no no sense, but you you could do that kind of stuff and and and and try to create your own indicators, right? You could create your own indicators as well, and then you could save them and then you could use that to sort of um look at things. We even have like a Bitcoin dominance comparison where you can see the difference between Bitcoin dominance with and without stable coins, right? So like like without stable coins, Bitcoin dominance is at around 63%. With stable coins, it's around 58%. Right? And and again on on Trading View, it it'll be it's currently right around 58%. But if you exclude stables, it's already, you know, well above it's close to 63. So you know, just some different things like that that I think are kind of cool. But yeah, I mean, and we also have social interest charts. you can look at, you know, viewers to to uh crypto YouTube channels and whatnot. But here, yeah, like if you're if you have the asset filter and Ethereum, then you can click on this and then you can see like the hottle waves. You can go to long-term holders or something and and you could just track you can like click off ones and and pick which ones you want to look at. Like if you want to look at like short-term holders, you can see what the huddle waves look like. If you want to look at long-term holders, you can just hide everything and and and go look at it like that.
>> Social indicator is my favorite with the YouTube views and Twitter view. Fantastic. Back in the prior mania phase in 2021, these crypto channels were averaging around 4 million views a day at the peak and and right now they're averaging around 850,000 views a day, right? So, I mean, it's not it's nowhere close to what it was.
>> The last thing before I let you go, I wanted to ask you, I've seen Peter Shift, of course, he tweets as much as he can about gold reaching new alltime highs and Bitcoin being behind and that kind of stuff. Are you expecting at some point the two to kind of get back together? Because usually what happens, gold goes first and then Bitcoin follows, right?
>> Yeah. I mean, LA in 2024, we saw a very similar thing where gold broke out, Bitcoin had an initial move up, but then it got a kind of a correction and then gold kept running and then Bitcoin started running later. I think it makes sense to be bullish on gold and silver. Gold will probably outperform Bitcoin in 2026. But I also I mean the thing with Peter Schiff is that he's he's kind of a he's a perma bear when it comes to to Bitcoin. So, I mean, yeah, like obviously he want he he'll always kind of say the same the same thing. And we will go through phases where gold certainly outperforms Bitcoin, but it doesn't mean that, you know, you you can't make money on on on Bitcoin. In fact, I mean, for the last 15 years, gold didn't really do anything. Um, it's only really started to move recently. I I think he just kind of had a blind spot for for Bitcoin. And and I mean honestly when you and I are are twice our current age, we'll probably have blind spots for for new things as well.
>> I was about to say, yeah, I mean I love Peter. We had a we had him on the podcast. He was amazing. You know, I've seen him in Vegas. We chitchat a lot. He's a super cool guy. But yeah, like you said, probably like us in 50 years or so. He'll be like Bitcoin blinkers.
>> Yeah. We'll just be like, "Ah, what's all this what what are these kids doing these days?"
>> Exactly. Speaking of which, I can't wait to see you in Amsterdam. I know you are also going to the Bitcoin conference.
>> Yep, I'll be there. I will be there. And also, I think most of my team will be there, too.
>> Thanks, man. Always a pleasure having you on the show. Really appreciate.
>> Thanks for having me.
>> And we'll see you on the next one. [Music]