Getting Through The Turmoil - Meet My Elephant

Good day ladies and gentlemen, welcome to the Trader Cobb Crypto Podcast in what has been an interesting week. Of course, I touched on it yesterday with Genesis having some issues seemingly with liquidity and seeking from what it sounds like. Again, it's just all a lot of Twitter stuff right now. A billion before Monday, which is going to be interesting to see how that plays out. Because

if there's no one there to continue, you know, if there's no one there to support these companies, then it's really not good. And at the moment, most of what is being supported is through crypto to crypto. And that's what's being throughout the year. Now, one of the interesting things here, JP Morgan at the time of the peak of the global financial crisis had about 700 billion,

I think it was at the time. Something around that figure. And they needed a bailout. Otherwise, that money would have been, whoosh, gone. Essentially, you know, back in the hands of creditors. And that would have been that the government bailed them out. One of the things that we have in this industry is we have got the ability to make our own decisions. Right. And I made

I'm okay. I'm okay. But one of the things that I wanted to bring to you guys is something that. I only thought of it today. Someone I can't remember if I read it or if I saw it or if somebody told it to me. I'm not sure. I can't remember. But the same goes like this. It's how do you eat an elephant? And you know, you

asked someone how do you eat an elephant? And you know, some people will say, well, why would you do that? You want to eat an elephant? And I understand that. But the way that you eat an elephant, I mean, this ginormous creature, you know, a ginormous creature. If you were for if you had deep that elephant. How did you eat it? You need it one one

bite at a time. And that elephant kind of sits us in our position right now. That elephant is not necessarily our life as far as beating heart, the working brain and a functioning body goes. I'm not talking about it in that sort of way. It's the current circumstance of our life for a lot of people right now. Whether it be people that have been hurt by

Celsius, three hours capital, block five, FTX or numerous other things. Luna, USD. There's a lot of them out there right now, where people are hurting. And for some people, sadly, they've gotten taken on a couple. But how do you how do you ever come this? Well, if the if the circumstances, the elephant, you do it one bite at a time. Now some days you'll feel more

hungry. And you're going to have a lot more of the elephant taking bigger bites or more bites and taking more of that elephant away from its source, from its from its mass. You make the elephant smaller. But if you keep at it, you keep taking that one bite a day. You keep working towards the outcomes that you're desiring. You will get through it. And eventually you'll

come to a time when there's only one bite left of that elephant. And when you take that last bite, it's going to feel amazing. I've been through my own experience of eating an elephant. I've been through this year. I'm going through another one. I'm eating two elephants this year. I really am. I've had a struggle at the start of the year going through separation and all

that sort of stuff. I've had a lot on my plate. But the one thing that I took from my therapy when I was doing it was one positive step in the right direction each day. And over the last sort of eight months of doing that, seven, eight months, something like that. The elephant that I was eating, the elephant's just about gone. Now the elephant's going a

little bit more. But it's not as big an elephant as the one that I've been through. It's a incredibly difficult process going through a separation. And I know many people out there will agree with that. The thing is, is that life will go on. It will get better. You will be okay. What feels completely overwhelming today, it will pass. It will pass. And that's the elephant

and an allergy. If you just, I mean, there's no need to think you need to start eating it today. The first step or the first mouthful really is acceptance. It's accepting the situation. And it's letting it work through. Now, last week was pretty much that week for me. The pain of other people. You know, when it comes to my financial loss, I'm okay with that. Like

I've been in this world of investing and trading. Well, I started when I was 16 as an investor and I've been trading for what I think 18, 19 something like that. I can't remember exactly. But it's around 18 years. So I've been through some really roaring, roaring successes and also some devastating failures. Now, if you consider, I know that I've spoken about the Euro Swiss trade

that I would used to do and how it cost me a wipe down my account and $870,000. I got that back. But around that same event. And just this is an important one because this happens not just in crypto. FX CM went under. There was another one I think called a roar or a tarry or something like that. These were big foreign exchange platforms, foreign exchange

brokerages, which is essentially what we call an exchange. They were under. They took a lot of people with them. And whilst it sucks and it's sad, we have to understand that in life, you're going to suffer knockback setbacks and things that are going to slow you. But don't let it stop you because the risk of not investing and not bettering yourself on something that you're passionate

about something that you truly enjoy. Well, if you don't do that. And if you let these setbacks stop you, you're never going to get to where you want. I'm sorry, I shouldn't say never going to. I should say that you're slowing your progress down. And whilst it's absolutely fine to take a step back and take a breather, I get down. I mean, I've done that many

times in my trading career. It's important to come back to the reason that you started it in the first place. Start to break it down. And whilst this does knock us back, we're going to keep on moving. And it's up to us. Do we want to keep chewing on that elephant and moving through this and improving and getting things out of our way? Or are we

going to sit in a place of despair? Like I tell you where I'm not going to sit. I'm not going to sit in a place of despair. I'm going to keep on working. I'm going to keep on doing everything I can and educating people and helping people. My life passion, my life goal is to help people. That is what it's always been about. And yeah, if

I can help people whilst making myself some money to give myself some freedom, absolutely. But it's not inherently about money. It's about helping other people. And it's a purpose. It's a purpose to a passionate. That's my purpose in life. And it was told to me during a, I think I was 16 or 17. I went to a guidance council or in Brisbane. And they interview your

family members and all that sort of stuff. A bunch of questions takes a long time. And it came out and surprised us all that I was a help. I liked helping people. It doesn't surprise me now with my chosen career path. As far as the educational side of it, not so much when I was just a trader because I wasn't really helping too many people apart

from myself. But now it's changed. I'm really feeling passionate about that. I have been for the last six years. Now we're six years in December. This company will have been up and running. So I bring this to because it came to me. And I know a lot of people are hurting out there. And I wanted to give some perspective and a bit of a plan. That

elephant is now the visual. The visual of this whole shitty situation is that elephant. Well, we can eat the elephant one by the time. And I'll be there with you. I'll be doing the best that I can at all times. Like I always have. So there you go. There's my little insightful part leading into the week. We can. And I hope it finds you well as

far as our markets are concerned. Well, let's talk about that because Bitcoin's got an uptrend on the 30 minute. Yeah, it's only the 30 minute. I know it's not. It's not a great big. You know, it's not a huge amount. But it is moving. All right. We do have some movement in the markets again. We are starting to see some trends come into play. Yesterday we

closed up. Two of a percent at one stage Bitcoin was in fact down. It was about one and a half percent something around that. We're at 1.3% today as we closing on 17,000 where it's $16,900 currently. And whilst we may see it go lower if this Genesis whole thing doesn't, you know, not just Genesis. But if there's more to unwind from his whole FTX Saga and

whatnot, then that's so be it. That's what's going to happen. And if that does happen, well, that's fine. Is Bitcoin going to go away as I spoke of yesterday? No, Bitcoin keeps on going. It's the other things that seem to be the issues. So our market will live on. And for those that you've got stable coins on the sidelines, well, you know, you might get an

opportunity to buy Bitcoin lower. How long will this cycle last? Nobody knows. Nobody knows. But we do have a halving coming up in the not too distant future. And that historically has been a very good time for Bitcoin and basically the entire crypto ecosystem. So far this week Bitcoin has gained 3.76%. Now there is a long time. Still to go within this week, of course, being

a 24, 7, 365 market. We've still got a number of days before we can actually so we've had a positive week. See what happens on to a theorem now, which is, which was down. Yes, so they close down 1.3%. There's up 2.3% today 1226,000 47 cents. There's, there's not too much going on there. A little bit of a trend starting to form on a theorem. Actually,

there's a beautiful level of support that's just been pushed through. Let me just draw on a fifth there. There might be a boost there and they're very close. In fact, a 15 minute candle put on 1.2%, which is no mean feat today up 2.25, $1225. Binance today is up 1.9% after closing down 1.4% yesterday. A nice little move so far. Nothing major 272.90. XRP was up

yesterday up 1.82%. It's up 0.6% today at 38 cents. On the dode which closed down 1% exactly yesterday. It's up 2% today at 0.6. Not really much going on there. A little bit of a move over the last couple hours, but nothing significant. On to Cardano, which did close down 2% yesterday. It's up 1.8% today at 33 cents. Mattics starting to get a trend on the

lower timeframes, but a very early stage. It was down 2.6% today. Pretty much put it all back on at 2.5% up now at 89 cents. Dot closed down only half a percent yesterday. It's up 1.4% today at $5.75. Solana with resistance there on the lower timeframes at $13.79. It was down yesterday 4.5% today at 0.4. It's $13.68 of far cry from its all time highs. Shea,

but innu, well yesterday it was down as well. 1% down. It's up 1.9% today. So we do have some green in the market. Now we got away to see. I wouldn't be getting too fomotant in right now. We've still got a lot of stuff that we've got to get through. It'll be really nice to see a few months of the market not having more of these

big runs, massive liquidity events. And as the price goes lower, depending on how these companies are leveraged, it could cause a more cascading effect, not just on the market, but on the companies within it. I think the companies, if any more majors are going down, or having problems, I think that will be reflected in our price so far regarding this Genesis situation. We have not seen

the market react to it at this point if they were to go under or anything of that nature. Of course, I would expect to see the market dip quite significantly. Anyway, guys, I wanted to bring you a little bit of insight and some of my thinking as we lead into the back end of the work week, the five day week, bringing into the weekend. You're okay.

You're going to be okay. This two shall pass. And the elephant, hey, it's time to get the knife and fork out. Let's start eating. Take it easy, guys. Have a great weekend. Connect with nature or whatever it is that you love because it will help. Take care. Bye for now.