A great week for crypto indeed! So we've
got a lot of interesting developments to
cover.
Hello! I'm cryptocasey and welcome to
another episode of last week
crypto! Every Sunday, we review the
performance of the largest
cryptocurrencies,
top gainers, as well as the latest global
news stories affecting the crypto
markets
this past week. This week, we will discuss
the fed's new approach to inflation
announced Thursday, spoiler, it's not
really new
or novel by any stretch of the
imagination, how the stock market is
nearing the edge of a cliff
hanging on by a thread as the us
presidential election draws closer and
closer,
all while things in crypto are looking
extremely bright and moving insanely
fast.
To check out the links to all the
articles we discuss, go to
cryptocasey.com/last-week-crypto.
This week's episode is brought to you by
crypto.com. An exchange with over 55
different cryptocurrencies.
On crypto.com's mobile app you can buy
crypto with bank transfers,
credit or debit cards, or crypto at true
cost with no markups.
crypto.com also has a desktop exchange
that is solely for crypto to crypto
trading
which isn't available in the us quite
yet. If you use the link below to sign up
for crypto.com,
you'll receive 50 worth of
cryptocurrency for free
when you use the referral code "cryptocasey"
all while supporting the channel.
It's so important to have relationships
with multiple exchanges
with the incoming bull market. Many times
exchanges have to hold funds,
freeze transactions, and lock accounts
when they are overloaded with increased
demand.
So check out my list of recommended
exchanges below to sign up
so you have multiple options to trade
when the crypto market
really starts to take off. Also, a
question I get all the time is, "Hey Casey!
Where can i buy
this coin or which exchange can i use to
buy that coin?"
etc. So i'm going to show you a neat tool
you can use to find out where to buy
almost any and
every coin imaginable, so stick around
until the end of this video
for a quick tutorial. Every Wednesday on
Instagram I conduct a weekly A.M.A.
or ask me anything at instagram.com/cryptocasey
So please use the link to my Instagram
account listed in the description area
below
to follow me and ask me anything you
want every Wednesday.
Please note that I only have one
Instagram account and I do not ever
engage in direct messaging on instagram.
Many scammers are making fake accounts
that says official private Instagram
account and then message
people trying to get them to install
software on their computers.
All of those are 100% scams, I will never
ask you to send me cryptocurrency,
and I will never ask you to install
software on your computer to
make a profit. And neither will any other
real crypto influencer.
So please beware of scammers and report
their accounts to instagram
or facebook if you come across them as
this is the only thing we can do right
now.
Also, over the past year, youtube has been
cracking down on crypto content creators
freezing their accounts and in some
instances permanently deleting accounts
without warning.
so just in case this channel ever
experiences any issues
and you still want to have access to the
content, follow me on Instagram,
twitter, telegram, Facebook, and head to my
website and sign up for my newsletter
i'll be starting
soon. That way we have a more
decentralized way to communicate
outside of youtube just in case. Awesome!
Now, let's jump into last-week-crypto.
looking at the top cryptocurrencies by
market cap over the past week
bitcoin down negative 3.7% overall.
ethereum at negative 6.1%. XRP at
negative 8.4%,
and chain link down 7%. All in
all, lots of great opportunities to buy
into projects at a nice discount.
and we have another new face on the
block and the top ten by market cap,
"Polkadot". Actually on august 21st the DOT
token was changed into a smaller
denomination.
So the supply of DOT or value of your
position
didn't change. The new DOT we see on the
chart here is just 100 x smaller
than the old DOT. An analogy to better
understand this
is basically DOT change from
representing one US dollar bill
to representing one US penny not
changing value or worth
just changing and representation. So the
dot token used to be represented in
dollars
and now dot is being represented in
pennies. A bit confusing, sure,
but I hope that clears things up for you.
Taking a look at the top gainers this
week,
Polkadot up over 104 percent,
Kusama up 89.4 percent
UMA up 52.7percent and aragon up
46%. Nice! Now time for a pop quiz!
Here are three things to ask yourself.
1.  do you believe individuals
should have exclusive rights to
privately own and freely trade
the fruits of their labor?
2. Do you believe
theft is morally repugnant?
and 3. do you believe two plus two equals four? If you answered yes to these questions,
congratulations! you are a bitcoin
believer.
So I challenge you to administer this
quick simple quiz
to all of your new coiner friends and
family who think you and your magic
internet coins
are delusional because they will likely
pass this quiz and realize
they too harbor these so-called
delusional beliefs and tendencies.
Moving right into the most anticipated
event over the week,
the U.S. Federal Chairman addressed the
nation on Thursday.
Powell announces new fed approach to
inflation
that could keep rates lower for longer.
In a move that chairman Jerome Powell
called a "robust updating" of fed policy
the central bank
formally agreed to a policy of "average
inflation targeting".
that means it will allow inflation to
run moderately above
the fed's two percent goal for some time
following periods when it has run below
that objective.
hmm... so I think the keyword to highlight
here is "goal"
because as we discussed a few weeks ago,
it's easy for the feds to stay near or
around
a goal when the feds are constantly
moving the actual
goal post to create the illusion that
they are close
to said goal. So basically, inflation will
now
target an average of two percent meaning
following periods of sub two percent
inflation
such as now, we will endeavor to get
inflation higher
than two percent. new target range will
use no formula.
We continue to move goal posts and are
flying blind.
Yes, pretty disturbing, but not really
that surprising anymore.
Perhaps one day people will realize that
the trillions in interventions
by the fed are not a sign of strength
but rather the appearance of control
in an illusion and that the amount of
interventions
are reflective of a structurally broken
system.
Fearing utter collapse. I've got another
quiz question for you.
don't worry it's a softball. Can anyone
remind me
what happens when you keep pushing air
into a balloon
inflating it beyond its limits? Okay,
clearly, we have been in bubble territory
for a while now,
but what phase are we in? Northmen trader
on twitter is always on point.
He says we're now in the phase of the
bubble where analysts are trampling over
each other
to hype stocks into the stratosphere and
you don't need a finance degree,
PhD, or any formal education really to
see that the stock market has not been
operating on fundamentals most of 2020.
S&P 500
and Nasdaq both have hit new all-time
highs.
Meanwhile, record unemployment, pandemic,
eviction crisis, etc show that the
markets are completely detached from
reality.
No wonder macro investors are buying
gold and bitcoin. This market is propped
up by the fed printer alone.
Even the world's most renowned investors
indicator surged
the same indicator that peaked before
the dot-com crash.
Warren Buffett's favorite market
indicator soars to record high, signaling
stocks are
overvalued and a crash may be coming. The Buffett indicator
compares the stock market's total value
to quarterly GDP
to assess whether it's overvalued or
undervalued
relative to the size of the economy. The
ratio reached a historic 183 percent on
Wednesday
reflecting the breathless stock rally in
recent months
in the plunge and second quarter GDP and
like i mentioned earlier,
you don't need a degree or formal
education to realize that our global
financial system
is broken, dysfunctional, and collapsing.
In fact, this week, the SEC is even
starting to come around
redefining who is qualified to be a
financial investor.
SEC redefines accredited investors to
include
those with proven knowledge the u.s
securities and exchange commission sec
has amended the definition of accredited
investors
such as to include those with proven
financial knowledge
the broader definition will enable more
people to invest in private offerings of
cryptocurrency investments
sec chairman jay clayton comments for
the first time
individuals will be permitted to
participate in our private capital
markets
not only based on their income or net
worth but also based on established
clear measures of financial
sophistication so instead of the blanket
rule being that you can't participate
in certain investment vehicles unless
your net worth is high enough
a step has been taken in the right
direction allowing a broader spectrum of
people
to be deemed qualified investors an sec
commissioner hester pierce
also known as crypto mom in the space
knows what's up
saying americans shouldn't have to ask
the sec
for permission to invest but today's
accredited investor rule
at least offers people a path to ask
permission
based on their education rather than
simply telling them
no unless you're rich so things are
looking up for crypto the sec isn't the
only financial agency
coming around the international monetary
fund or imf
just did an explainer video on crypto is
this bullish
yeah i think so you know who else is
bullish none
other than the winklevoss twins bitcoin
price to five hundred thousand dollars
winklevoss lays out ultimate bullish
case the theory for a five hundred
thousand dollar
long term bitcoin price is
straightforward winklevoss believes
bitcoin could overtake gold as the
global market's
leading safe haven asset does bitcoin
have what it takes to potentially
overtake gold
if you watched last week's episode you
know what elon musk and some others are
predicting
winklevoss says currently gold is a
reliable source of value
and a classic inflation hedge supply the
supply of gold is
actually unknown while gold remains
scarce or precious on this
planet earth the same cannot be said
with respect to our galaxy
there are billions of dollars worth of
gold floating around out there in space
and if you don't think someone is going
to send some space monkeys or more
likely robots to go and stake their
claim
that's fine just make sure you go and
buy some bitcoin stat
i mean come on i know you passed the
quiz just go ahead and admit it
you are a bitcoin believer admission is
the first step after all
and if you're a bit nervous about taking
the next step maybe this
will inspire you doubling down on
winklevoss's 500k prediction
asset giant fidelity analyzes model that
forecasts bitcoin rise to 1 million
using the correlation between an assets
price and its stock to flow ratio
stating commodities with high stock to
flow ratios
such as bitcoin gold and silver have
historically been utilized
as stores of value this graph shows a
popular model
that uses bitcoin's historical
relationship between price
and stock to flow to estimate a future
price and
you can see where it's projected to hit
1 million around 2029
after the next having in 2024 two lofty
predictions
made just this week by some heavy
hitters in the financial realm
i know a lot of you are in bitcoin
already but i do get a lot of questions
about how to buy bitcoin through a
retirement account
unfortunately most of the services
available do not allow you to control
your own private keys
and if you don't control your own
private keys you don't have control
over your funds which is not a pleasant
thought especially in terms of
retirement funds
luckily it looks like there may be a
solution to this
finally there is a way to own actual
bitcoin in your retirement account
no etfs no indirect exposure bitcoin
with your private keys and everything
check out choice which is a new
self-directed ira
and you can use the link in the
description area below to access the
correct
official site to join the waitlist it
will definitely be interesting to check
out
when it's fully launched so we are going
to wrap up this episode
with a few back-to-back tweets that help
put just how quickly crypto moves
and how much opportunity exists in the
space
because in real life with fiat as a
wealth measure
you're either born into an empire or
poverty
but definitely with bitcoin you will
build your own empire ground up
disenfranchised or not
and if you've ever seen the movie
interstellar with matthew mcconaughey
this meme pretty much accurately
describes the speed with which defy in
particular
moves trying to explain d5 to my normal
investor friends
d5 one hour here is seven years on earth
if you've been in crypto for a while now
you will definitely agree with this
tweet
and if you're just getting into crypto
take heed
working in crypto is like compound
interest on your time
there is no other space in the world
that is growing as fast as crypto
this means that as the industry grows
your net worth grows
as well as your business you get one
chance at life
take a chance on crypto and if you have
any friends or families that are
naysayers and don't like or understand
the opportunities
crypto presents right now consider this
when someone tells you that your plan is
impossible
remember it's impossible for them but
not for you
execute on your ideas and chase your
passion
ps bitcoin going to 20k awesome
so if you are a beginner and want to
learn how to make gains as a profitable
cryptocurrency investor
sign up to join my beta course at
cryptocasey.com
forward slash beta i will be offering
this course to everyone interested
for free as a 100k subscriber special
to thank you for all the support you
guys have given to the channel
access will be released next week along
with a 100k subscriber
video so make sure to watch out for that
next week
i'll keep you posted via email as well
if you've signed up on my website
and if you haven't yet head to
cryptocasey.com
to sign up for my newsletter sweet also
if you're interested in learning how to
become a developer in the industry
or learn more about the advanced
technical concepts of blockchain
technology
the best resource available in my
opinion is ivan ontax academy
using the link in the description area
below you can enroll on the course at a
discounted price
cool one last thing here's a quick tip
on how to find out where you can buy
almost each and every cryptocurrency
available out there simply open your
browser and head over
to coingecko.com once you're there go to
the search box in the top right corner
and then type in the cryptocurrency
you're interested in
next click on the coin from the list of
suggestions
and once the page has loaded scroll down
to the bottom
where the spot tab is located under the
exchange column
you will see all of the available
exchanges and swap pairs
available for that cryptocurrency to the
very far right
under the trust score you will see
colored dots that represent how good the
liquidity
is on each exchange for swapping that
crypto green being good
yellow being moderate and red being poor
to search for another coin
scroll up type in the cryptocurrency
into the search field in the top right
click on the coin scroll down to the
spot section and take a look
under the exchanges column awesome well
that was last week in crypto with me
crypto casey if you enjoyed the episode
please make sure to like this video
and subscribe to my channel for more
crypto content to check out the links to
all the articles we discussed
go to cryptocasey.com forward slash last
week
crypto so what did you think of the
massive bitcoin price predictions that
came out this week
if you're not already have you started
trying to figure out ways you can work
in the crypto space
are you going to miss out on 50 worth of
free cryptocurrency by signing up for
crypto.com
if not click on the link in the
description area below let me know your
thoughts on everything we covered
in the comments be safe out there
you
