Bitcoin Is LOSING SUPPORT! (Inflation Is Getting WORSE)

Drew (0:00)

Welcome in to Discover Crypto, where we discover what it feels to mean pain. Today, this morning, prices are dipping, CPI inflation is roaring, and Bitcoin isn't having fun for the time being. My god, is this the dip worth buying? That is the question. I see the chat, where are the support lines? Where in the hell does the pain stop? We're gonna take a look at all of that on many, many different charts. And honestly, one of the bigger macroeconomic predictions I've made over the last three to four years that most of these PhD economists have disregarded and argued with me till the cows come home is now being even further proven to be true, playing itself out, which leads us to a terrifying potential for how far this fiat currency of ours that we know as the US dollar might actually fall in terms of buying power over the next few years. But good morning, everyone. We're kind of Bitcoin dumping down to 81.9.

TJ is concerned. We had a huge occurrence here.

TJ (1:04)

Concerned about what? What am I concerned about?

Drew (1:06)

Dickie Shuler. Dickie Shuler. He's no longer with us. Richard Hart.

TJ (1:11)

Richard Hart.

Drew (1:12)

Oh, my god. Taken into custody. What?

TJ (1:15)

Richard James Shuler. Yeah, I got that. They finally caught up. Was it Turkey that got him in, does it say?

Drew (1:19)

Yeah, Turkey got him, and he was one of my Interpol. A couple of small allegations, like it was like assault against a 16 year old, and then aggravated tax evasion and fraud.

What Interpol was?

TJ (1:35)

Yeah, just a couple of minor things. Yeah, assault of a minor, you know, stealing everybody's money, defrauding an entire generation of low IQ people, I guess. You know, I don't know what the Hexicans have to say. They're probably, they'll probably spin this as bullish. You know, sorry, you know, like, I've never met a more delusional group of people than the Hex community. But hey, you know, this is, there is some justice in the world.

Drew (2:00)

So it's not looking good for Hex. It's not looking good for Hex. I gotta say, it's down about 30% on the day. So lots of pain on a chart that basically has already accomplished zero there.

TJ (2:14)

So not a lot of pain on a chart that only knows pain.

Drew (2:18)

Yeah, that's crazy to see. And you know what? I'll talk to you about this. Nobody wants to be the main character in crypto anymore. It's not wise to be the main character in crypto. You just don't want to do it.

TJ (2:29)

Time is limited if you're the main character. You want to be supporting cast at best. And even that can be a little dicey sometimes.

Drew (2:36)

Absolutely. All of a sudden, you're in the Bahamas chasing Sam Bankman freed around. Now, I gotta stop. What is my problem? Let's go look at the larger crypto market.

I don't think it's too bad. Couple of altcoins are still doing decent.

I am going to talk about a project that I actually bought this week here. And I just, I gave the pro- like first TJ brought this project to my attention, then I gave it to the robot. I remembered, and we even covered it on the basement years ago. And it's-

TJ (3:06)

We've talked about it once or twice, some on the stream, not a ton, but some.

Drew (3:10)

Yeah.

TJ (3:10)

We did a- I think we did a whole upload on it, didn't we?

Drew (3:13)

We did.

TJ (3:13)

Yeah.

Drew (3:14)

We did.

TJ (3:14)

Probably should do another one.

Drew (3:15)

We absolutely should.

XDC is up. There's a thing for the ISO peeps. We got Tron, Southeast Asia, waking up. Stacks, a little bit of Bitcoin, DeFi, holding strong. Stacks is up 59% on the month, and up 2.9% on the day, even with this big market pullback, and Monero, someone moving some funds through Monero. Shout out. Now, let's look at the losers here. Yeah, that's what I'm-

TJ (3:40)

I'm interested in the losers on Daylight today because I want to look for things, strong projects that I like that are down more than my Bitcoin or ETH. Or, you know, obviously, I've even got some dollars that I could deploy on days like today.

But yeah, looking at that list, I've got a little bit of Radium and Jupiter. I feel like I should pick one or the other. But yeah, I mean, Sky down, EtherFi, that's a little bit of a sleeper that we don't talk about enough. I feel like it's down pretty strong. You got Uniswap, not down that much, 5%, but still more than Ethereum.