Opportunity Comes When Emotion Is Dropped

Get our ladies and gentlemen, welcome to the Trader Cobb Crypto Podcast in what has been an interesting start to the week. Look, we've got a number of downtrends on some of the lower timeframes, and I'm just hoping that they sort of settle into good seclusionity because, look, realistically, I can see the market going lower. That's my take on it, if you recall back, what was the

date? October 19, there you go. October 19, I did a video on trading view saying $10,000 Bitcoin, the breakdown to webinars. And it was basically saying, you might not like what I'm saying here, but this could truly happen if we break that support. Now we have broken that support, and we've broken it in very spectacular fashion, fashion of which I don't think we've seen the end

of. I really don't. I think that with what's going on in the market right now, we're going to see other companies unwinding their position associated with FTX. Now whether that be FTX was a liquidity provider, whether there are fund lending, I don't know. But it's only been, this is our second opening to a week after that news broke. So I think we will see more, and

I believe we will see more downside. Certainly a high probability of that in my view. Now with that comes opportunity. And whilst many people out there right now, we'll be looking their wounds. Me included. I lost a lot. It's not been a pretty time. I will suggest this. Whilst it might be too much for you right now to jump straight back into trading, I totally understand

that. One thing to consider however is that during these periods in time, we carry a lot of emotional connection. There's a lot of things that have happened this year. If you didn't take profits in the bull run, that might make you feel emotional watching your bounce go up and then back down. If you got knocked out by Celsius or block fire or FTX or all of

the above, I hope not. There's been a lot of reason for people to walk away from this market, to feel despondent, to feel angry, to feel sad, to feel depressed. It's a horrendous period in time. But what I will say is this. If you need to take a break, take it. First things first. But don't, don't let yourself get too far gone. Because think about this.

We've all said it before. I wish I bought Bitcoin at X. I wish I bought Bitcoin at 10 cents. I wish I bought Bitcoin at $100. I wish I had it. Well, we find ourselves saying that today, the day to take advantage of those prices has passed. But will there be new events that provide the same level of opportunity going forward? I truly believe that there

will be. And if you consider Bitcoin on its own. And this is the thing that frustrates me. I was at a kid's birthday party all day yesterday, or from 11 o'clock all day. It was bloody awesome day actually. And people were like, oh, I cryptoned my blah blah blah. I'm like, yeah, but you can't, you know, I'm like, so what do you think is Bitcoin going

to fail? My Bitcoin is really never failed. It hasn't. Since inception, I've been thinking about it. Bitcoin has continued to whack out its blocks, do its thing. Sure, the price goes up and down a lot. It's very bloody volatile. That's why we like it for trading. Right. Whilst we see these events take place, Bitcoin continues to do what it was said to do. Now we did

a webinar today in the discord community, the trader called discord community, which you can find links all over my socials and also in this podcast here in the description bit that we were myself, Lou and Reese, the two other guys that I got in here as traders. And then we were discussing all things. And you know, Bitcoin has not changed. It continues to do the same

thing. Now we've got a halving event coming up in, uh, was a 2024, which might feel like it's a long way away, but it's not actually that far away. Bitcoin's market cycles tend to last for about a year. It's bull runs, tender lasts for about a year. The super runs, the big ones. And then we go through a two or three year period of sort of

grinding and getting the odd move here and there. Now as traders, that's fine because we can trade those moves. Right. But for the HODLers, they're sort of waiting a lot longer for those all-time highs to be taken out. And then to do a two or three multiple whatever it may be above those all-time highs. What if this time we see, because there's a lot more institutional

players involved in this, this most recent bull and bear run. What if we had to see a bull market that lasts for let's say two years, let's double the cycle period. Two years it takes for a bull run. And we'll be interesting to see. Around this halving event, if we do see something different occur because the halving has typically been the line in the sand, which

we've been able to sort of rely on for our bull markets. If I got a two year bull market, there wasn't so like, and when I say two years, I don't mean, you know, we might hit the same levels as we did in a year. Right here, we just race off as is often the case. But what if we saw it over two years? So he

didn't see multiple, you know, 10% plus moves multiple times throughout that run. What if we saw it a bit slower, a bit more gradual? That would certainly fit what I want to see because that would give me more opportunity to find more trades. Because yes, for the market rips off, it's great if you're long or if you're short of it's four of them, I'm talking about

the bull cycle. It's great. It's really, really good. But you might not get as many opportunities. Now, I like to lay a position. So I want to say, lay, I mean, I'm taking a position. If I get another one on its improper or at least break here, it'll take it again and so on and so forth. So you you end up with your runners, your runner

position is going to be a little bit more. The runners that are risk free or in profit, they continue to build and you get these wonderful big positions that do you very, very good. And that's what I used to do in traditional markets, especially with equities. That was something that I would do, I would trade equities on a daily basis and then run them for potentially

time to be educated, more time to understand what we've got to take from the markets. So it doesn't just sort of snap your fingers, bull, we just fell 20% now, you don't want to take profits because you want to take them at the top. And it causes all this sort of internal dialogue that is not really that good for you to be decisive. So a bit

more time might be what we waft, what we're after, whether or not that happens, I'll be watching this next halving event very, very closely. But anyway, following on now into markets again, just to remind a opportunity comes all over the place to get the emotions out, start to consider what your options are. Oh, the other thing I wanted to say about Bitcoin. I don't think I've

seen a more, a world in which there is a strong case of Bitcoin than what we have now. Inflation is bad around the world. All right, we've got the talk of central bank digital currencies. And a lot of talk very recently as well at certain events that have been going on around the world. This is about knowing exactly where our money goes, exactly what we're spending

it on. And there's also these different, these different systems of basically, what would you say, surveillance of us knowing what we do. Oh, you don't, if you don't do this, then you can't spend money on this. So what I'm so for now, also that might seem like conspiracy theory jargon right now. It actually isn't. They're talking about this sort of stuff at the highest levels. The

central bank digital currencies are a hot topic right now. And it would give essentially governments the same sort of power as what the Chinese Communist Party has, which would therefore suggest that we can't do the things that we want by association of X, Y and Z. Now that's a scary thought to have. Inflation high. That's also something that's hurting the market and individuals around the world.

You've got interest rates rising. The world is becoming much more expensive with the cost of buying things, becoming more expensive and wage growth stagnant in many areas. It doesn't bode well. Bitcoin solves it. And whilst it yes goes up and down wildly, it does. There's no doubt about that. The more people that buy the people that bought in 2017 at the absolute higher 20,000, they're only

down a little bit, but they would have been spending their money. As they were going about it, if it was a system that we could easily excessively easily spend it. And you can, it's just a few hoops of jump through. It was easier than that. They could have been spending their money for their groceries or so. Spending their Bitcoin for their groceries. Well, Bitcoin was at

65,000 US dollars a pop. Meaning, yeah, they did good during that period. Because effectively, it's a form of profit taking. You're buying goods and services at a high. High price of the currency that you're holding. It will essentially be a swinging pendulum. As the markets get stronger, your dollar will go further. You'll need to use less of your Bitcoin. As the markets fall down, yes, you'll

need to use more of your Bitcoin. But it will all balance itself out one way or the other. If it's, you know, if it's a constant with what we, sorry, if it's a constant that we use to spend for our services. So a few more things to think about. Bitcoin is not done anything wrong. Bitcoin is continued to do a Bitcoin is always done. And I

get behind Bitcoin because it is. It's a very, very secure place. It's essentialized businesses that have been the issues of the year. Anyway, so last week on Bitcoin only down point two of a percent. We've got all this talk of Genesis and maybe further bankruptcies or what not going on in our space. And still Bitcoin was only down point two of a percent. It's now at

16,100 down point nine of a percent. Ethereum came up a bit more last week down six and a half percent currently sitting at 1126 dollars. It's down one hundred percent. And so we've got one point two percent today. A little bit of a trend start to form that I want to see it solidify. I want to see better seclacity and more opportunities for us to trade.

And I'm only trading very small sizes right now as I did have a lot locked up in FTX. So there you go. I'm with you. Our Binance last week did close the week down 4.44%. It's down 1.7% now 259 dollars and 29 cents. XRP closed up. The only one on the top 10 to close up up 5.85%. It's down a percent now 35 cents. Doge sitting

at 7.5% was down 9.3% last week. It's down 1.6% now. Cardano did break its lows. Its most recent lows were broken last week. It was down 5.5%. It's pushed down a little bit lower today. It's down 1.9% at 30.5%. Mathic down 9.3% last week. It's down 1.1% right now. It's 79 cents. Doge down a percent today. Down 9% also 8% on last week at $5.23. So

line last week was down 6.5% currently down 4.3% at 11.70. And sheba I'm not going to tell you the price because there's so many down zero. But it was down last week 2.66%. It's down 1.7% right now. Interestingly enough with all this at the end of the week. Let me take you through who was pushed to new bear market lows in 2022. First analysis Bitcoin. Yes.

It has pushed itself to new lows over the last couple of weeks. Ethereum not as of yet. In fact for Ethereum to break new lows to achieve new lows. It would need to from current prices still fall another 23%. On the Binance now for Binance to set new 2022 lows. It would need to fall 30%. So still holding well above those lows. XRP from current price

to break new 2022 lows would need to fall 20%. Doge from current price to new lows would still need to fall 36%. Card Ghana as I said has pushed to new lows. Mathic if it was to do the same from current prices would need to fall 20%. 60% Wow. Dot has pushed to new lows. Solana has pushed to new lows. And for sheba in or however

you pronounce that dog. It would still need to fall a further 18% to take out new lows. So even during this spectacular failure of markets and centralized platforms and whatnot. We are still seeing much of our top 10 holding fairly strong. Ladies and gentlemen, I do believe that we will see further moves to the downside as things unfold. We're going to be running the second week

into this FTX saga and there will be more things that will come out. Don't forget as well when you're looking at these proof of reserves with these exchanges. That is only one part of it. You are $1 million in the bank but if you are $8 million you are not really in a good position. Are you they need to show our debts? They need to show

their debts. They need to show an audit from a third party that is something that's a little bit more than hey look how much we've got. I can see coin base. I can see coin base has liability order from Deloitte. That was the 31st of December 2021. Cracken was our Manilo LLP, the 30th of June 2022. And recently it was gate which was also audited by

our Manino LLP on the 19th of October 2022. The ability is audited to start to come in. That's when I'm going to feel a lot more comfortable about everything that's going on right now to find a new platform to trade with. Anyway ladies and gentlemen I hope you've had a fantastic weekend and you started the week off with a smile on your dial. It's this life

continues to move on. Yep it takes hits you learn your lessons but you keep on keeping on. And that's what I intend to do. I will continue to live with a smile on my face no matter what comes of it. Take care and I hope you're well. Bye for now.