Polkadot Upgrade Causes MASSIVE Swing In Price! (Holders WATCH THIS!)

Polkadot Upgrade Causes MASSIVE Swing In Price! (Holders WATCH THIS!)

this is discover crypto today we’re
going to be talking about what Will bit
coin do after the having also we have
polka dot just got a major upgrade and a
lot of people are saying what is going
on with this chain and then last but not
least we got SPF going the way of the
tekashi 69 of web 3 that’s right he’s
singing like a canary and he might be
hitting the high notes let’s go around
the
[Music]
blockchain all right thank you for
joining in like Johnny December says go
ahead hit that like cuz it is a good
show and we got some of these guests on
including piano Maddie B in the green
square piano Mat B how are you doing I
heard it’s uh really really cold where
you’re at how is it in the Canadian uh
the northern Tundra it’s unbelievable
it’s actually 5 degrees Celsius so you
can see in my t-shirt I walk outside I
drive around I go to the store in a
t-shirt now if anyone from the States
was up here they would be in a parka but
us us Canadians 5 degrees let’s party a
baly five degrees also on we got first
time so make sure you show that ATB love
we got to make sure we follow all his
content it is Jordan hoffy Jordan I
heard you’re uh the the consultant to
the stars in web 3 uh tell just a quick
background about
yourself that’s that’s a that’s a large
introduction that um background for
myself is I mean I’ve been I’ve been in
uh IT consulting for 10 12 years I’ve
been in the crypto space for I think
three or four years uh about two about
three years as an actual consultant for
projects and uh I’ve done work on
Avalanche project and uh currently uh
madic and salana all right but everyone
really wants to know what is your cable
management like you know but we’ll get
into that later stick around and then
also we have OJ Jordan it’s his last
week under the thumb some would say of
Javier mle uh he’s about to leave
Argentina and head Eastward uh can you
can you give us any insight of where
you’re heading
I’m going back to Europe I’m going to
Spain first and then I think maybe the
UK briefly I haven’t decided I I kind of
I I decide last minute some of those
things but yeah first I’m going to
Barcelona okay all right are you going
to land on the shore in a in a dingy in
a boat like many of the the recent uh
anyways we move all right let’s talk
about Bitcoin
everybody it’s already off the rails
well Bitcoin is having a moment moment
here everybody I want to share this
tweet from Michael sailor this kind of
the Crux of what we’re talking about
here Bitcoin was
8,618 on the day of the last Bitcoin
having he’s highlighting the fact you
know where Bitcoin was uh this was on
May 11th four years ago when it hit that
low by January 21 this is just eight
month later Bitcoin had already surged
it had more than tripled hitting 30k it
hit 60k by April of 2021
uh but if we look at the numbers if we
look at the November high so for the
March 2020 low to the November 20201
High we’re looking at a 700% surge
Bitcoin did a nice little 8X right there
if we were to copy that rally for a 700%
surge uh it looks like Bitcoin will
reach
$489,000 we’re looking at a half a
million dollar Bitcoin a lot of people
saying that’s a little bit moonshot now
Matty B you do a lot of ta I know you
like to to pull out the extensions you
know look look at uh some pretty strong
trend lines well last time Bitcoin did
an
8ex what do you think it will do this
time when it comes to uh you know that
$15,000
low well before we get all delusionally
bullish I just want to do a quick recap
of what they call the goldenest of
golden ratios and that’s the 61.8% FIB
so if you see the on the old dingdong
here the
daily this pump here we immediately
retraced to 61.8 we actually hit it
again so that’s the that’s the golden
pocket I think they call it to the
goldenness the golden ratios now if we
go to the weekly we can see we actually
did it as well we Wick down here to the
61.8% FIB now unfortunately I mean we
have one more chart to visit it’s the
monthly and if the monthly SE is the
61.8% FIB it’s right here at
45.2 and now how depressed would
everyone be if we hit
41.2 I would be very happy because I
think it’s another opportunity to buy
whatever you want to buy but that’s
where the Fibonacci like to go we like
to visit the goldenest of golden ratios
that being said I really subscribe to
the all bets are off this time’s
different because of the institutional
aping in so I mean sky limit I don’t I I
don’t really follow the old um the old
Cycles anymore because I think we just
have so much money coming in here that
it may be the first of almost a
recycling of
sorts uh you know and on that note piano
Mat B looking at the repeated downturns
that have been bought up every dip this
cycle yeah from the low has just been
20% and then it bounces 20% it bounces I
think we have five under our belt at
this point within a one or two%
deviation so you’re looking at like
18.4% to like 21.6 we have not really
exceeded those ranges so uh what what
just quick followup Mat B I mean do you
think that will continue where once we
hit 20% draw Downs the whales just come
in and start gobling it up it’s hard to
say because I mean on that monthly that
draw down to the 61.8% is 35% now that
is what we saw last bull run all day
long it was like Monday pump Friday 35%
Monday pump 30 Friday 35% right we
haven’t seen that yet so it’s almost
like we need to get it off the books
right before we can go to the Moon
because what the market likes to do is
to crush people right I mean we’re
already dead inside they can’t crush us
right but to the noobs they want their
heart broken they want to go you know
what I don’t think bitcoin’s for me I
I’m going to get out and that’ll be
right at 61.8% 45k and then boom that’s
when she takes off of people would feel
very bearish at a 40 45k Bitcoin Gary
Austin does anyone think Ada can 10x
from here or is it dead I think it can
but uh when be surprised if the sell
pressure at 420 as a psychological
number is going to be quite tremendous
that’s going to be about a 8.4x so just
uh quick back of the napkin math now
Jordan you know I’m looking at uh you
know the previous Cycles we get the same
type of thing and the tail end of the
year we get a nice little blowoff top
you know the last cycle I mean we kind
of had a blowoff of move in April and
then you know we kind of just touched it
in November of 2021 did US reaching a
new all-time high before the having
where it’s typically about a half year
after the having because we’re so far
ahead of schedule do you think that
hurts our chances for a blowoff top in
say 2025 or even later this
year I think the the safest the safest
response to that I think would be it
will hurt the chance for a lot of
altcoins
bitcoin’s obviously in a in a scenario
right now that’s it’s way different uh
ETF is obviously the Catalyst that that
brought us to that point but
I I I I think bitcoin’s in in a healthy
place the the volume looks good it gets
bought up when sells off real well
um I I I don’t think I I would feel
pretty pretty confident you’re going to
be looking at at uh soaring numbers it’s
just a matter of when which that’s
classic right we all know that it’s it’s
um logically it’s going to slowly go up
but the speed over the next
year I would feel pretty confident and
moving moving uh moving higher oh jordo
uh could you feel confident uh throwing
out a prediction for this cycle I’ll
start just to you know to break the ice
here I’m looking at you know I think
180k is quite reasonable you know I used
to be a little bit more bearish but that
was after seeing the ETF inflows kind of
up my number well what’s your number
that’s a that’s a that’s a fair number
because obviously you hear some
ridiculously high numbers you hear some
ridiculously low numbers um if players
like you know Morgan Stanley and uh
players on that level get in I think 180
will be pretty pretty easy over the next
next year or two at that point you
almost don’t even need to rely on Major
Market catalysts like havs to to get
into it because you have such a a buy
pressure and a supply shock um
you know people always are hard on me
because I seem be I’m so I’m so bullish
on crypto in general the technology um
but things like this you have so many
things that play into it like like all
like sudden meme coin Cycles you never
expect and all these all these different
things that kind of foot sweep um runs
of different other other parts of the
market uh I’ve always been in the the
140 150 Camp honestly okay 140 150 all
right all right well uh let’s go on to
uh let’s see OJ I got to throw it to you
here now we’re kind of throwing out some
upside projections I I want you to scare
me I want you to freak me out okay so
after we hit the all-time high let’s
assume this year next year sometime next
18 months or so Bitcoin is probably
going to have a another beish period
like it has every single time say two
years after the having uh yeah it kind
of starts about that last low was 15K no
one a lot of people didn’t think we’d go
below 20 we went below 20 we hit 15K
what is your low prediction for the next
cycle I mean is it lower than that is it
higher than that what’s your bare case
for say 2026
2027 it’s well right now is not a good
time to make that prediction
unfortunately because it typically
Bitcoin uh retraces by around 80% last
time it did
73% uh in previous Cycles it’s done 78
83 even 88% retracement from an alltime
high but um we don’t have an alltime
high yet uh I mean in this cycle we we
haven’t seen the top uh to to be able to
see exactly what would that 80% be but
to me it makes sense to say something
around 50k um it could even be 30k it
depends on where the top is if the top
is 120 or something then maybe we drop
to 30 but I would feel confident at
around uh 50,000 to see a bottom during
the next bare cycle because 50 and
60,000 so far proves to be quite a
decent support you know it is a
consolidation level that we were hanging
around for a while so we established it
as a decent support I feel that if we if
it drops down to this level it will make
sense to find a bottom there but again
it depends if we go much higher then
maybe 60k will be the absolute bottom
but if we don’t maybe we drop to 40 48
uh these were also support levels I’m
talking really on top of my head right
now because I’m not really looking at
the charts but uh yeah this makes sense
to me all right I like some of these
numbers look at at chat Kelly with the
shout out to bit lab 188k to the upside
retest down to 90k to a bare retest
there uh I would love bouncing off of
90k that would be a good feeling Eric
gimell
150,000 uh lot all right 420 people
people like that number for some reason
oh because it was just April 20th I get
it I get it three days ago all right
let’s talk about polka dot everybody uh
first you know what I I’ll pull up the
coin uh let’s let’s look at some of the
price here it’s rank 15th if I’m not
mistaken oh wow it’s Fallen it is Fallen
to 16th look at that Bitcoin cash has
knocked it out of the top 15 who would
have thought it uh we look very very
high numbers polka dot was above $50 at
one point right now under 10 if you look
at market cap above $55 billion for full
reference salana hit 70 billion last
cycle so you know we’re talking about
some pretty high numbers here so $55
billion market cap but when you look
current market cap less than 10 so you
know looking like some 5x uh to the
upside but why are we talking about
polka dot well share my screen real
quick we saw a temporary halt in Block
production after an upgrade but wait
there’s uh there’s a little bit of an
aster here you can see moon beam had
some issues with its uh staking smart
contract PA chain here but uh we had a a
web it’s a developer here for polka dot
he pointed out no no no wasn’t polka
Dot’s issue this was a user interface
issue you may see issues with staking
uis and various wallets this is just a
UI issue not a problem with staking
itself no action needed from the users
uh we also got some good upgrades Jam
upgrade uh for the the the fish fans out
there or uh you know any any of those
jam bands out there so uh the DOT
unaffected by recent news we saw the
price right there what are we looking at
for the past 24 hours down
1.8% so uh worse than what salana would
do if it went down but by no means it’s
looking like uh the the coin is crashing
oh the upgrade supposed to combine
ethereum smart contract features with
polka dots architecture uh their their
their pa chain model right there so
Jordan Hof I haven’t had you on before I
I just want to throw out know just a
general question here what are your
thoughts on polka dot as an
ecosystem uh polka dot as an
ecosystem I nothing against it I think I
think it’s uh has a lot of lot of
healthy ideas par chains are just
another way to you know handshake and
and expand your network with with other
networks uh Moon beam’s obviously a
perfect example of that doing this
upgrade um I think it has a has solid
tokenomics it has a solid team team it
has it’s a solid project you know it’s
it’s a it’s a it’s I would it’s
definitely a
premere you know layer one if you had
had to list it it’s in it’s in its right
spot and you you’ll have a lot of layer
ones that are kind of you know playing
like just the topple game right now um
and there’s a I always say there’s a lot
of tribalism that that happens with with
these networks um but generally they’re
going to all handshake and they’ll be
the major winners
but they’ll be the the tiers right below
the major winners and I think that’s
where polka dot will be so if you’re
somebody who’s you know taking part in
the the the network owning some dot you
know benefiting off this network you’re
in a great spot if you’re bullish on it
publicly you’re in a great spot U
there’s really there’s nothing that’s a
huge drawback other than Growing Pains
which which are which are healthy we saw
that with salana right yeah yeah and uh
you know integrating some uh eth I
believe it is the op uh stack
specifically so you know known to be
some of the stronger development
toolkits there Green Day very bullish on
dot flat smack you wish I had a a cap
Supply there uh I know our producer
Hannah she she loves uh polka dot I
think she’s working on a video right now
with Owen uh now I want to ask you
OJ is incorporating eth functionality
into your existing blockchain would you
consider that a bullish signal because
hey you know top smart contract or would
you consider that a bearish signal oh
wait you’re you’re relying on help from
others what what’s your take here no not
necessarily a bearish signal but I don’t
take it as a signal that much because
this is really developers game this is
things that um most of the investors
don’t know about don’t care about don’t
understand very much so these kind of
upgrades however important they are for
the network and for the um for
developers really uh so that they can
create better applications and you know
invent which is important but it’s
really important for the developers I
don’t think that the investors are
bothered about it and that’s why we
don’t see much of a change in the price
even with the bad news about polka dot
it’s not really dropping the price that
much because again this is bad news for
um users and developers and don’t forget
most of the market is uh investors
speculators people people who are in it
to make money they’re not really that
much about the tech even though many
people would say oh yeah I’m I’m all
about the tech I believe in the tech and
all of that everyone is in crypto to
make money first and then comes the tech
so that’s why these kind of upgrades
don’t really change don’t don’t really
move the price so much because it’s it’s
not like a major upgrade like changing
the protocol to like ethereum did from
proof of work to proof of stake you know
this is more major but the more
technical upgrades they only matter for
the developers and the and the community
and the true
devotees uh but the majority of the
market is not those people yeah the
majority are in it for the money and the
people that screen the loudest I’m not
in it for the money have commas in their
net worth like 100% of the time all
right piano matd B let’s let’s talk a
little price action here you know I was
looking at the alltime 55 billion market
cap right now it’s under $10 you know it
hit 55 bucks right now $7 I mean what
what are your thoughts on uh the the
price action of polka dot can we reclaim
some of these all-time
highs well I think all altcoins from the
past bull market will be driven up by a
higher tide however when I think of some
of the I don’t I think it’s too soon to
call them Legacy altcoins because it was
only a cycle ago but to me it it brings
to mind a bunch of toddlers on Big
Wheels trying to get up a hill and
they’re all kind of running their hoies
to the quick most of them won’t make it
no matter how hard they try their their
little black wheels going to start
spinning and they’ll probably end up
going down but I think the one that will
make it is that green machine and if you
don’t know what a green machine is it’s
because you’re not as old as I am but a
green machine overtook all big wheels
and I think that green machine for this
cycle is salana and salana I think is
gonna just grow so fast and gr gain so
much adoption that it’s just going to
over shower all those Rugrats on the big
wheel and then we won’t even talk about
them but will they go up a bit yeah
everything’s gonna go up a bit all right
all right salana definitely has to get
that uh congested network issues taken
care of you know at that Meme coin
Zenith 72 hours ago four days ago
whatever uh 75% of salana transactions
failed so uh you know they they’re
definitely if they fix that it’s the sky
is the limit because the mcoin people
are going to love that all right let’s
talk a little SBF We buried it that’s
right he is turning into a rat everybody
let’s share this uh this article Sam
bankman freed agrees to help FTX
investors go after celebrity endorsers
that is right there is a lawsuit and in
that lawsuit a lot of people are named
this is a civil crime you can see right
there future civil liability tied to the
collapse of FTX and that is a whole
Litany of people but they’re going to
the the civil lawsuit is going to let
him off the hook if he’ll snitch on some
of the names here that’s right Tom Brady
Steph Curry Shaquille O’Neal Naomi Osaka
uh superod Jazelle bungon are fighting
the lawsuits they are still fighting
some of the people have settled we have
Tom Nash Brian Jung uh Andre xek uh
let’s see there’s a couple others so oh
Trevor Lawrence the uh the quarterback
there he is also settled so it’s yet to
be approved by a judge that’s an
agreement amongst the PLS and FTX they
say hey turn Canary give us all the
names tell us all the details and we’ll
remove you from the lawsuit so we can
better go after a Tom Brady a Larry
David a Shaquille O’Neal you’re going to
need more Icy Hot after this uh when
they’re done chapping your hide but
let’s let’s get into the meat and
potatoes first piano matb I’mma leave
with you should I hate the word should
but you know I’m going say it here
should celebrities be held liable for
ftxs
collapse well the most surprising part
about what you read There is how many
celebrities I didn’t even know exist
like all those names I think I might
have known Tom Brady out of all of them
but I think how Shaquille O’Neal yeah
the big like throwback uh athletes but
the other ones I know the
theel invented Seinfield along with
Seinfeld stanza is modeled after Larry
David in real life
that’s right um I think it’s gross that
they would go after the celebrities
those poor dumb celebrities what do they
know they just kind of won a social
Lottery and they’re at the top of their
game they didn’t even know they’re going
to play it and now they’re going to get
sued from how about you sue the guy who
made it rather than the guys who just
they got a phone call from an agent hey
you want to uh make 500k sure how you
just got to say you like this uh I don’t
know what it is some sort of altcoin I
think it’s called FTX or something just
say you like it and I get 500k yeah any
strings at attached well some
restriction May apply what no never mind
and then he says yeah I like uh I like
FTX and then he’s getting sued no let
those let those celebrity celebrities
just go out to pasture and Sue the
person who made the GD
token uh let’s see flash they didn’t
know I blame Gary and his cohorts there
uh poor dummies a lot of people plus one
he had one job all right now Jordan Hof
I I want to ask you you know just
generally speaking I don’t know if you
feel like the Charles Barkley uh you
know angle here but what role does an
endorser of a product have I mean is
there any role I mean should there be
any
responsibility there’s I think there’s
some some responsibility I I I kind of
share MD’s opinion that it’s it’s hard
to go after them completely because
they’re not really the one pulling the
triggers behind it
um I I think a lot of this also falls on
our process of of clarity and Regulation
and the risks that come along with with
everything early on in these markets so
you could you could say the market was
was ahead of actual regulation in this
process uh but you know no one will
obviously take accountability for for
that um at that level they’ll keep you
know everything going this way so that
people will be made examples of uh and I
think that that that pretty much sums up
that angle I do want to share in the
sentiment of uh uh Maddie on knowing
what the the green machine is and not
knowing who the majority those
celebrities were
so all right all right uh all those dang
sports ball players there all right now
uh I want to end it with you OJ here
let’s let’s wheel it back to the far
extreme of this example so on one side
yeah you got Tom Brady you know saying
you know hey you know throw a spiral
like me with Bitcoin I don’t know what
he’s saying in that commercial something
like that and then we got you know
people in the middle some of these
smaller who even knows who these
celebrities are but what about the other
extreme what about actors just reading a
line they’re giving a sheet of paper
they’re just a they’re just a face a
face in the commercial and they’re like
yeah you know secure your funds with FTX
should we hold the where do you draw the
line I mean should the line readers be
held liable
here no I mean I I draw the line at uh
what exactly is the contribution I mean
what is the type of promotion they did
because you have for instance if you
remember back in
2017 uh we had um John McAfee tweeting
uh every week or every day was it an
outco coin of the day or was it an outco
coin of the week whatever it was and uh
he was actively telling you buy this
coin right and these coins were pumping
hard and everyone who was getting early
was making a ton of money with this and
this was really Market manipulation so
and of course they went after him later
for that this I understand but um they
didn’t even go after Elon for pumping
Dogecoin which was again Market
manipulation because you know Elon is
one of the most famous people on the
planet and of course when he tweets
something and we saw what Dogecoin did
in the previous BL Market I mean it was
a coin that was almost dead and then it
made this huge pumps and stuff like that
and people did lose money during these
pumps as well because they were getting
you know a end like really high and
stuff like that nobody really went uh
after him for that so I draw the line at
um you know exactly what was the the
type of promotion they did if they were
just uh you know had a contract where
they had to say a few things you know a
few lines as you said just read a line
and that’s it and they’re not really
actively involved they’re not brand
ambassadors or anything like that then
you can’t really hold them
responsible um maybe maybe you you have
a case to some extent some type of a
fine but I I don’t understand going
after the celebrties so much you really
need to go after the people who did the
Scamp you know who who who failed the
project uh you know who who designed
that project in a in you know in a
fraudulent way let’s say rather than uh
the person who promoted it because they
got paid we know celebrities get paid
for every product that they promote
every uh brand that appears on their
social media is some type of a promotion
and we already know that and if you
don’t know that then I I I don’t
understand who doesn’t know that anyway
so I don’t see them being that
responsible for people’s
failures all right well uh we’re going
to go around the horn here around the
blockchain with I said horn because I’m
looking at espn.com Tom Brady we’re just
going to point this out as a specific
example if I could share this Tom Brady
I don’t know if this moves the needle
for you or not he lost 30 million in the
collapse of crypto giant FTX you’re
Wonder well why didn’t they you know get
money well when it was valued at 32
billion they had $48 million in equity
now it has no value maybe you know a
little bit more now after a little bit
of a bull market with their Holdings
there so should Tom Brady be in the
lawsuit yay or nay uh piano Matty B are
are are we suing Tom Brady yes or no no
I don’t think any of should be in the
lawsuit all right none of them Jordan
Hof uh should Tom Brady be
named I’ve no you you hesitated because
he’s a cheater in football uh OJ Jordan
should Tom Brady be
named no I don’t think so especially if
he had a skin in the game then it’s
clear that he was not just Shilling so
even more of a reason not to go after
him I mean that that vindicates him
because he’s basically genuinely
invested in this project and genuinely
believes that this project is a success
so he’s not he’s not scumming you he’s
not doing he’s not like lying to you or
anything like that why would unless he
talking about how inflated a football is
in that case he is definitely lying to
you uh MCA is a legend I I live two lots
from his old house uh super super cool
there uh Eagles beat Brady uh Einhorn is
Finkle uh but folks that is all we have
time for I think it was a a great
episode make sure you check out Jordan
uh check out you know we have the
description Down Below in the
description going to be links to all the
guests that you see here so make sure
you go check that out go follow their
content they’re all putting out great
great stuff uh and folks you know who
who’s that fault is it Tom Brady let me
know what do you feel about Tom Brady
down below that’s all we got see you
tomorrow for

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All of our videos are strictly personal opinions. Please make sure to do your own research. Never take one person’s opinion for financial guidance. There are multiple strategies and not all strategies fit all people. Our videos ARE NOT financial advice. Digital Assets are highly volatile and carry a considerable amount of risk. Only use exchanges for trading digital assets. Never keep your entire portfolio on an exchange.

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