Greetings to our viewers! We started the Crypto Debate, this time I only have Josef Hi, how are you Joseph? [Josef] Hello very well Well Alondre has had a problem last hour and could not join so we are going to do the Crypto Debate that also It will be a little bit shorter between them and sharp and well now we will go commenting on this whole issue of the coronavirus which is the last thing not and what is breaking the market a bit and basically that is not with the crisis of the coronavirus the market entered "the world is going to end" mode, both in the traditional markets such as crypto and even those that are normally used to cover with gold all, some fall more others less but all fell quite
And well: 258 billion dollars market cap of all the crypto ecosystem we have gone to 148 billion that is to say that they have been lost in a matter of a week, even in a matter of three days, a hundred billion market cap dollars, almost a 60% drop and that Bitcoin will have 40-50% fall Right now we have a Bitcoin, I have signed up this price is 5 thousand 118 dollars but it has risen somewhat today and an Ether for 112 dollars, it seems that we have been a few days which is where the fall has been less cushioned and we are a bit lateral, even today We are seeing a bit of green markets and well, the answer has been a bit "downhill on L" rather than on "V" as many expected I use this for the letters because the government is making it fashionable now and well the panorama does seem to be extreme uncertainty i have seen many disappointed that crypto and bitcoin in particular, they have not reacted as a reserve value to the fall in traditional markets I think we still have to give it a little time Ethereum was like a motorcycle now in case it is going to put the ecosystem defi like jumping up and well it has also dropped a lot and also we have had the first serious problems in the defi ecosystem with dai, Maker Dao that now we will also talk about it and well in short we're screwed and we don't know what's going to happen analysts predict this is going for long and that we can have more falls although later there is another analyst much more optimistic
things as they are In short, I think we are facing a completely exceptional situation many countries stopped and more that are going to stop still that everything has to arrive the fat one to the United States, Latin America, the United Kingdom and the normal It is in almost pre-apocalyptic scenarios it seems that he is being have cash, cash and toilet paper, so it seems Well, there are many, it seems that they have sent the investments to hell Reserve values ​​come to you what I want cash in case everything explodes but well we already know that every crisis has its end from any crisis you can learn I think that the recovery in general is going to be slow, but when things relax a little bit, I think many investors are going to start looking for those stocks and those stocks correlated from the traditional market and that's where we're going to have a very strong opportunity with crypto and fiat can lose enough value because banknote machines out of thin air they are at full capacity and that's when we have a chance I think do not? I also think that gold and reserve metals should also go up And of course I also say again that I have no idea about anything and that nobody listen to me and all this we have less than 50 days for bitcoin halving, that is, in the face of this great crisis that is coming or that many believe is coming well, I think it is going to start to see both bitcoin and the entire ecosystem with good eyes Ethereum and other projects What do you think Josef? I know I think you are you frozen
at least listen to? what i'm here giving the bar? If you are going to share screen take the opportunity to share screen, so we refresh them [Josef] well I'm going to share I'm going to screen sharing but well basically I think you've touched pretty well all the points we find in a moment of great uncertainty and this is reflected in the markets, because already yes the market was flooded with liquidity with the central banks, the fed, the European central bank at low interest rates and and now even more so to cushion a little all this health crisis that we are having there will be more liquidity in the market and when the market is flooded with so much liquidity what usually happens is that there is inflation the money in the end stops being worth, what is worth will be worth less, and people takes refuge in reserve values ​​and well there is reserve value par excellence in the past has always been gold but hey since 2009 we have another another asset in the market and they are still quite immature assets but that they point quite high that it is in the end the Bitcoin and other new cryptos like Ethereum and more that we have What happens that of course people expected that with this drop in the stock market, the drop in gold, that Bitcoin was going to hold better and the It is true that it had a drop of 30 or 40% in a matter of one day, two; quite quite brutal and then it is very much questioned not if Bitcoin is a reservation or not
And I think that in the end you have to give patience you have to give it a little more time, you have to think a little more in the medium term; to In the short term there is a lot of speculation in the market We have seen that it has dropped everything but I think that in the medium term we will see that bitcoin is a reserve value and I think yes, it is going to be decoupled from the prices of the rest of the markets And well, a sample of this is the descent the other day, does this graph look blank on a screen? the descent of another day the bitcoins that have moved have really been bitcoins that bought in recent months in this graph what you see is that the people who bought bitcoins more than a year ago has hardly had movement, for example people who bought bitcoins more than a year ago because they had a lot of movement in 2019 in August a lot of movement when we hit $ 10-12,000 at the beginning of the year because there was also a lot of movement of people who bought over a year ago But this descent that we have had now really the people who had no movement for the longest time I think that in the end it was an effect of the markets in general especially the markets are very, the market bitcoin is heavily dominated by Bitmex too, Bitmex has liquidity limited too, and then when we chain a series of sales orders and there is not enough liquidity, because the price starts to drop uncontrollably and not only that but During this download the Bitmex platform was attacked and in the end the entire platform collapsed, and it's already been total chaos
So you have to see this descent from the point of view that it is on the one hand a very immature asset and then on the other hand what also the platforms we have for trading because it has a vision limited and but well, [Carlos MartÃn] but the data, that data of that, I have already said so in various groups, but that Bitcoins are quite recent, bought quite recently all who have done all this movement, but with quite important data because the usual: the holders for a long time, convinced holders have not moved a bitcoin are there with their bitcoin in hand they have not panicked, they continue to trust the active and it's over [Josef] yes, it has all been very short-term sales What is interesting is the volume because if we go to this graph graph here you can see that there have been several spikes in volume in the recent years for example here was when we had the bubble burst Let's say 2017, very important in volume, that means that here lots of transactions per se from more purchases lots of sales then when in November 2018 there was this capitulation there was also a peak quite large in volume but note that this capitulation was very aggressive because we went down from 6,000 to almost 3,000 and still the volume that we've had on this drop last week It has been even bigger, that is, check the capitulation level, the amount of purchase orders for sales orders that were in place for this to happen, so in the end the price went up to 3,800 and there it bounced and well now it will remain to be seen what will happen there are a series of indicators that mark a clear background for example this which is the MVRV that in the end what comes to say is comes to divide the market cap between realized cap, market cap you know what it is: it is the number of Bitcoins in circulation for its price and the realized cap is the number of Bitcoins in circulation by the last price that has paid for those Bitcoin, it is a very very different concept between the ratio and between one and another of the division between one and the other, sometimes it gives us signs quite interesting about when we are at the top and when we are bottoming out Every time it has dropped below 1 we have a sort of capitulation where the price was below end of 2015, last year when we went down from 6000 and now well again we are for below that level which means that if you are not the ground we are quite near at least temporary ground then it is coupled with the fact that what that you comment we are very close to the halving that is the May that there is end the miners will get half reward which usually pushes the rising price then Puell's multiple is also a very interesting indicator that like the MVRV is based on data about exchange is data that we get from the bitcoin blockchain and this final is based on the number of bitcoins that are issued daily miners between a moving average of the last 365 days and this also has given us quite a few very interesting highs and lows in the past, for example from the 2017 maximum the minimum we had in the 3,000 and well now again that indicator has entered high in the green zone which is indicate they can go down even more of course but well it means that we are in at least an interesting area to start averaging if someone enter [Carlos Martin] how cool did that indicator not know that it is on an open website with no payment or anything? [Josef] of course there are multiple websites well this is one of them "Looking to bitcoin" then on the propai page of unomix who is also a guy who does onchain studies he also has enough graphics of this type The ones that I have taught there are only two because there really are ten or fifteen, little by little they are improving
[Carlos Martin] yes, just because it's not like always transfer traditional market indicators to this but they are indicators created for bitcoin [Josef] of course, these indicators for example in the SP500 or the ibex because it does not have them are typical of a blockchain where the transactions are totally public and where you can see who moves, how much and when and in the end they give you very relevant data If it is true that there are many bitcoins that move offchain in exchange and that this is not reflected here but in the end it is clear that there are still a lot of people who move bitcoins traditionally to the blockchain without entering any exchange and in a very punctual way at the end they are noticed in these graphics [Carlos Martin] The question is that it is the same as always yes, an indicator is the same you cannot trust but when they are already different sources different mechanisms and they are giving everyone more or less the same [Josef] Can't say I'm going to invest my savings here, this indicator that we've already seen, right? maybe this is in the green zone but it can go lower still, if so then but hey I think that as minimum it is interesting to see that there are several indicators that are marking a floor and at least it is interesting to start averaging under a entry and if you want to invest 100 then you invest 10 every month for 10 months something like that, you know that here we do not give investment advice but this is the smart thing for someone who is not yet invested and what I say above all because there are many people who ask me, we have to do it smart and with that feeling [Carlos Martin] that feeling, me too many people now in today's plan
hey this is super low, you have to put it in, right? Should we get in now? and at least there is people with desire and I have seen many people who have sent fiat to the exchange and of course I don't dare to say anything about what still remains way to go and there are many fundamentals outside of bitcoin that we they can affect both negatively and positively and that we are in a maximum period of uncertainty it is true that the technical indicators are giving that no longer overselling and [Josef] in the end very scary right now, but in the end to investors perhaps most importantly always leave the thrill of one side and look at the data look at what we have that are this kind of things
Now, as it is an exceptional situation, there is a lot of fear in the market because you do not know very well whether to enter or not, what to do and frozen the image of the new truth? [Carlos Martin] yes, we listened to you at least well left there with your eyes closed, if you don't put your screen back what you want more look well I will happen if you think I find everything very interesting have you counted well it's actually a pretty optimistic scenario what that you have commented from now on I mean let's see how things happen but well and I see it too and I see that there are many people strong waiting calm not so much panic as it seems and is opposite to well-being and around the corner well come on talk If you think in the latest news of what has happened with Maker Dao, well I remember that Maker Dao are the ones who are these 'stablecoins Dai, Sai, who are 'stable' coin that are not backed by fiat but are backed by other cryptocurrencies have mechanisms with smart contracts for and oracles and others to keep prices stable and always fit He doubts what would happen before a landslide like the one that happened last week and in fact accepted its operation I think that several things were conjugated there were problems the oracles that saw the prices because there were many swings that don't see then therion's network got congested it was also quite a beast the congestion it had to deal with that in the end they had losses of five with three million dollars and it's also a stain on this from Maker Dao I don't know, there is always the question of how these things work
I trust that a little bit and how well they will know how to recover and in fact they will make the appropriate changes and to start they just voted among all that apart from having Ether and BAT collaterals they will also have USDC with which it will there will be a part of fiat on that side that will be given enough stability and on the other hand, an MKR auction was held today to cover this debt out there I don't really know how it goes yes I know it can be a pretty good opportunity to acquire MKR goes by the pack, people is bidding on it but I'm not sure who wants to know what know what it is thursday 19th i hope to get the video also now after a while it will be today and that's it I don't know what can you tell us about this [Josef] Well the truth because in the end all these new systems which are the entire DEFI ecosystem that is still very immature, this type of stress tests are very useful to modulate it to improve it and this then was just another stress test, a drop in the Ether of a 30-40% in one day at the end puts the entire system to the test at liquidity level and I think they are taking measures quite quickly and I am still very optimistic and we will follow him very closely at the end then the whole Ethereum ecosystem too, I'm waiting to see if it increases the number of users from the point of view of the platforms there are for gaming video games I think people are locked up in their houses video games is going to have its rise and I think the same will happen in videogames on the blockchain that in the end I think that by success it rises and All of this helps the Ethereum system and the gaming blockchain [Carlos Martin] I have already told you in several videos that I think an ecosystem that has to be about to explode I do not know how it has not exploded already but it will out there many users will get a lot of secure mainstream to cryptos and Ethereum is that what it lacks and to update its network once everything is more fluid and that they do not have these collapses because I think that all this will go much better But hey, time to time I wish I had been thinking about it although I have also resorted Like everyone, since I have two girls because it is difficult to take time, it seems not It takes me less time than before, but I wanted to make a Decentraland video since you have talked a bit about video games right? a video game itself from Decentraland already we have talked a few times but he has just finally launched his 3D virtual world where everyone can buy plots and then you can make a avatar and you can go through that world and there are different activities now it is a moment very because of those who have free time and want to experience things for a pretty good time to get into Decentraland because there are so many activities that the people of Decentraland put on to earn things that that are touch RC721 you can find many prizes that can be buy and sell in a decentralized market and I don't know, a project Quite interesting and good that also goes a little with what you say, don't you? also within the Decentraland itself you can make video games and others Of course, it was taught to several people and it was clear to me those who are fed up with four night says but this is a little pedal, right? [Josef] I have read some of people who have gotten into and taken the time to explore a little bit yes and it's They are really a little disappointed in the sense of not seeing a mission as clear do not? within the video game, I think that the part of perhaps gamification is not very determined and that is to hook it in a way It also has a purpose or something to do because if it is not very nice here [Carlos Martin] but they have made it too open and now I feel that waking up they're releasing some challenges out there you find this finds the others that if there is a dragon here that if I don't know what but basically it is that It is made so that each person can set up whatever they want on their plot and assemble your own video games in your mind and black beanbags Enough there is a casino where you can put slot machines I don't know when you go down to a disco I don't know when but hey at the end is out of curiosity rather than seeing how it evolves and that is not but if there is only a long way to go they still have a long way to go [Josef] yes yes yes nothing and I have a lot said I follow closely also because it is one of the cases use more more interesting but I would like to see that and see that they are able to hook people what is it at the end of video games well designed so that people are motivated to continue not only to enter take a walk and get out but really keep on the video game and that number of users is growing day by day [Carlos Martin] has a pretty strong challenge ahead and then he wanted to talk a little about Steem fork that there have been so many messes with Steem that I miss a we have spoken a little for the groups we have also spoken in some video but basically Justin Sun CEO of TRON "controversial CEO of TRON" who always got into trouble bought the main blockchain app from Steem which is Steemit and the community organized so that it did not stay with the Steem funds that he had with him from the app, let's say or something like that, right? there was a series of voting, exchange voted with user fund in favor of Justin Sun one of them was Binance then Binance backed down and that was also talked about in the interview we have done with xavier Mercadé de Binance and well at end it seems that part of the Steem community has decided to do a fork of Steem that to continue without Justin Sund anywhere and the new blogchain will be called Spanish hives Hive I think some ICO was called like that, and the fork will be tomorrow Friday, March 20 and well it is showing a lot in the price because it has risen in the last 24 hours more than 155% remember than with a fork of this type in hardfork because if you had a thousand coins to manage suddenly it has a thousand Steem coins and apart a thousand coins in the new blockchain this Hive or whatever it is called good you never know on a fork is very difficult it is very subjective to know which the original and the new blockchain, not always but well it depends on where is the strong community and the community more ancient
And I leave it there in case I wanted to take a look at it and I do not know you are a little day of this, Josef? [Josef] Well, I found out a bit about pasts but Justin Sun For those who may not know him, he made the TRON blockchain that will be very highly controversial for copies found of other Blockchains and he is on twitter all day trying to pump the price, announcing announcements news announcements and so he's a character that most purists of the blockchain world because they have a lot of land because in the end it is all appearance and then behind because there is usually little foundation it happens that then he bought BitTorrent it seems to me, by the way money because he will buy not everything he finds and of course the most purist users, because they don't agree at all on these kinds of decentralized networking things and do them depending on your organization but good in the end because it also has its He has his fans and of course this because he did not like it very much but he will be interesting to see how that evolves to see how about [Carlos Martin] this is what I say that the CEO of Binance CZ is very close to Justin and I think it does not suit him be so friends with Justin but hey [Josef] Me with CZ who is the Binance CEO I have mixed feelings there, right? sometimes and it's true that seems very consistent but there are times when is with one foot on the dark side [Carlos Martin] You had any other news to comment, I think? [Josef] Well, in general I think that we have been going through it so it is a bit above then if it is true that it has also been interesting to see the performance of the miners in this case the 'flash crash' this that happened last week and what It is true that what normally happens when the price drops so much is that there is a part of the miners who stay out of the market because they don't find it profitable to continue mining But it is true that in this case in just come out people come out that is it has just gone down to the hashrate that means that the miners keep mining and even if they don't get it profitable and I think it comes a little bit also caused by the halving that is very close I think it is the 25 no, on May 18 it seems to me and they say that from 18 the eldest with the halving the miners will get half of the reward that they get now because they say [Carlos Martin] of course at these prices I will have the machine on after the halving now so I have it on come on [Josef] yeah yeah yeah and good at the end is another positive indicator of short-term confidence if of the confidence [Carlos Martin] and that of Bitmex of the kick that was in Bitmex the Friday a fall that is what happened do you know something else? [Josef] well it was like apparently there were a number of hackers who discovered it as a weak point in Bitmex earlier this year and they were expecting a lot of overload or like last Friday make an attack on the platform apis and do things at your leisure not to fight the financial burden because if not they got it because in the end because the jobo that many top the ones that is that they ran incorrectly they refund the people and well in the end beat mex because it is like the western nobody likes but everyone would be 37 because nobody likes it but everyone is still the a the most dominant table in the market for children is inducing alternatives to bit makes a bit sad more reliable theory but in the end it is the platform that more than more users and more volume is moving and well then in the end that color occurs there is enough liquidity in this type of case the other bosses are so important because everything all you but well you are in normal there is sufficient liquidity and it is better there is no problem I have for people who operate in divx because I think that not always the best thing to use is a little leverage if you use cross margin be very careful because it can settle you the entire account of yours always be with maximum leverage x 5 x 10 not to use 510 is your portfolio but to use that parking so if your position is liquidated then no it does not liquidate the entire portfolio may not always have precautions in that regard to in general and you because when they start falls let's imagine that we have another event like that from a sudden crash that we have to experience a couple of days and others what do you think you have to do there because I have seen many people I always say the maxim or well the maxim that I always follow is that when I do not know what to do better do nothing that comes out a maxim has been a lot but it seemed to me that it was something different because that highlighted that a exceptional situation a situation that does not go beyond all logic and indication of countries closing completely stopping their activity and also we know that it will continue advancing I don't know in fact I do recognize that part I changed it from my portfolio to 'stable' and I also started to look at myself I put in the video last week I started looking at wind that in gold and backed by gold and things like this and I take refuge a little bit but then I don't know either if you have done very well right now well if right now it does not go wrong but but I also don't know you never know whether to do well or not I don't know you koppinen is Of course, it also depends a little on the strategy that each one has if it is more in the short term to medium or long people who are very long term better not touch anything now sell it when it's down 40 it is true that the other day was as exceptional I think that the one who he saw in the bags not everything since the descents were descents that we had seen in many years but versions of 30 years yes it is true that we have had drops of that type but not so aggressive the same day because in the end what has happened is not clear and what is frightening above all is that there are times that for anything of this truth comes from a fat descent but normally there's a suddenly huge purchase too and try again no go back to your site but you hardly see any milk it stays there that your video tells me has done to vote like a basketball did not report the graph for down although now it seems that it resists at least what is the crypts I do not know if I in the end in these cases, I think that the first thing keep calm and with a long-term chart both short-term and well if one is more comfortable because passing it to dollars is a bit the thing calms down because he also sees it now with a classroom for example I only They are in usb and then I usually position myself because more in the short term in operations to show up 347 14 days that's basically what I try and in those cases because I am always in usp and then well if I always stay down well it does not affect me but if it goes up it does not affect me either or it did not win then it is a strategy where you have to be much more active not they have to be much more aware and people be very very over then if you are more long-term and well, maybe it's time to average and better to enter with something else of fiat with a little more euros or dollars and then if it keeps going down then you enter again and a little more fiat and dollars and this way the price average that then you have is much better but of course for that you have to first of course how much do you want to have in crypto currencies of your heritage if you already have medium to long term going medium to long term despair what is going to happen like the world the garden and the next day it goes up to the price by the cloud or things of course clear here if you see that you are already too exposed to the human script towards bitcoin and the time comes that you're having a hard time because you say I can't average it anymore I don't want put colder not kilometer more than 2,000 dollars because I no longer want invest more of the good market because simply if you had the When you decided to invest in what you need to do in the long term, you will have to maintain that initial strategy will break your strategy say not because this has gone down as much as something and and I don't want to know anything else because right now what has done to you what it is dominated by fear more than more than data because if you study long-term you did it for a number of reasons you won't have to stay true to those reasons and that strategy that you took in your day then now because there is an aggressive descent you had to try not to be influenced by that fear that clearly was irrational that there was a big drop in that same day I agree that in this situation he with Aviles then is very exceptional this will have medium or long term consequences even in the short term because not so many the descent is not I think it is not justified and less in the beat with which it is an asset that the governments nor look at the bag or because if there has been an overshoot in the markets Yes, totally good, because nothing else I know, I think that this is going well thank you very much for being here another one more debate and if you are able not to freeze for a few seconds and nothing to all our spectators so they can wear this as best they can this confinement at home i don't know what i would recommend apart from playing video games and much more important things create a routine stay active and good if you are a person who should go out a lot because every time is a problem if you are used to working from home Well, you have it a little easier by placing one because you live it as cute at end in relation to the most important thing about doing a routine of what has been played video games game painting exercise and the one who always wants to learn more described for now a good time and there are many things out there now for books to learn how to do these things that you've never had time for and have always been putting off it's time for things I do I encourage you to research faith projects and have a website that I hope to bring to the creator of that website called dotcom then but I put it on sometime and good luck to that to take a look at the projects say there's how they work like how it goes it's very interesting and so it was converted a bit into that ecosystem of faith very well well nothing thank you very much well I know let's talk everything goes very well introduced to you come see you later arias if you liked this video you We would appreciate it if you subscribe to our channel and read that I like
