while most of the crypto Wallace did turn negative
this year because of the prolonged crypto winter.
Some savvy investors saw an opportunity to still make money.
And among them is my next guest who went from a grocery through a
worker in his native Sweden to crypto billionaire in less than four years.
So joining me now is Karl Rosenfeld who goes by the moon online Carl,
thanks so much for coming on the show.
I know you say you recently made millions off
of the crypto wedge despite the current conditions,
explain to our viewers what a crypto wedge is for
those who might be a little bit less familiar.
Hello, thank you so much for having me on.
And so I believe what you're referring to is a falling wedge or
a rising wedge and it's actually just a technical pattern in a chart.
And there's no such thing as a crypto wedge, it's more like a
it's a technical wedge, You can find it in the gold price in the facebook stock chart,
it doesn't really matter which asset you're trading,
but if you are a trader then you can
actually take advantage of these patterns and wait for
a breakout or breakdown and then you can enter
a trade and you can actually make money.
Um you can actually make money even if Bitcoin is going down
if you're short a bearish pattern where the price breaks down.
So this is something that I like to do.
Um And um I also of course share my analysis online on my Youtube channel the moon
and on twitter where I have a bunch
of followers where yeah people appreciate my analysis and
I don't tell people what to do,
but I tell people what I do and that's what people appreciate.
So um carl in this instance obviously this is a sort of technical trading execution
that we're looking at here, the wedge a technical analysis.
If you were looking at the charts and responding
accordingly as a trader in the crypto space,
how have your trades been faring of late?
Well honestly when Bitcoin is going down I tend to trade way less.
I wait usually for the bull market and that's where the big opportunities
are usually but of course there are always positions that can be made
even in a bear market where you can short and actually make money
as the Bitcoin price or ethereum price or any other Cryptocurrency is going down
but of course this applies to any industry
and is not something that is just for crypto
but yeah I've made a few successful trades but I've also made a few losing trades,
let's just say I make more money in the bull market
bear market.
Yeah,
I think anyone probably just make more money in a bull market than
a bear market that's for sure carl we all want to see stocks
going higher up But about some of these trades I do want to ask you,
I see here that you've said
that crypto is a quote,
fantastic hedge against inflation unfortunately as we've seen inflation rise
this year at its fastest level in 40 years.
We've seen crypto completely crater hitting its lowest level in a long time.
Do you stand by that assertion?
Yeah. So basically it depends on the time frame you're looking at.
If you look at the past 15 years or last 10 years then inflation has been very high.
If you held X amount of dollars since that time then now you're purchasing
power is lower and that applies to any other national currency out there,
not only the dollar now if you held Bitcoins
since 13 years then you made millions of percent.
Unfortunately I didn't find Bitcoin 13 years ago but I
did find Bitcoin five years ago And let's just say
so far it's been a great inflation head for me
because I made a lot of money from just holding
Bitcoin let alone all the businesses that have created an
investment outside of Bitcoin but just holding Bitcoin in and
of itself has actually saved myself and my purchasing power
against the dollar or any other currency out there really.
So yes it is a great inflation hedge and let me tell you why um
Bitcoin is actually the scarcest asset in the universe,
there is no other asset out there that has a absolute finite supply
like Bitcoin the 21 million Bitcoin limit um gold has an inflation,
you can always mine more gold, the dollar obviously as inflation the yen, the euro,
they all have inflation, Bitcoin
Has zero inflation above that 21 million.
And that can only take place in a digital world in a digital currency with the
with the within these cryptographic boundaries and it
is actually the scarcest asset in the universe.
And I really mean every single word I'm saying there.
But again it is worth noting that crypto has fallen this year as inflation has risen.
So I just want to make sure that it's crystal clear for anyone who's watching
and thinking about trading based on this
very information
carl I'm sure you're probably trading on a pretty regular basis,
maybe even a daily basis.
How often are you trading the Crypto market and
what's your outlook for the rest of the year?
So like I said the bull market is usually the time to do um you know these
more faster trades but I would say in general I am very very bullish on Bitcoin.
I think that comes as no surprise but for crypto in
general I think we're just experiencing a small little downturn,
a small shake out because the thing with Bitcoin and
actually any asset in the whole world out there,
you always see cycles, there's no such asset as that just goes linearly up like this,
there's always cycles because there's always speculation
and sometimes the short term speculators,
they overestimate the rate of adoption.
So in a bull market in the big bull market people start saying that
Bitcoin is gonna be the world reserve currency
next year and apple is going into Bitcoin
and now Elon musk is buying Bitcoin and then this fear of missing out and hype
starts and then people start buying for the
pure purpose of just making quick money rather
than investing in a revolutionary asset that Bitcoin
is so many people that buy Bitcoin,
they actually don't even know what Bitcoin is,
they just heard their their friend buy Bitcoin, they saw there,
I don't know mom buy Bitcoin and that's the wrong
Entry points you should buy based on your own research and let me tell you Bitcoin
is the best form of money that humans have ever had available to them and this is
our opportunity to to buy something that is going to be massive in the future and
it's still actually very very cheap I would say as long as Bitcoin is below $100,000,
it's still very cheap and I am accumulated
crypto expert Carl Rubenfeld also goes by the moon on
social media carl thanks so much for coming on.
It's good to see you