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Chamat just made a shocking prediction. He appeared on CNBC and said that we are preparing for a rapid market takeoff. In fact, CNBC didn't even show the full segment where they talk about Bitcoin and Ethereum. We will consider all this. I want to show you this video. I will also share my thoughts. I want to hear your opinion too.
But before we begin, let's take a look at how well Bitcoin has performed today. It has grown significantly, but now it has rolled back a bit to 85 thousand , which doesn't bother me at all . We were at 87 thousand, a little over, earlier today. If you want to trade cryptocurrency, the link is under the video in Linktree.
You can check out Bidfy. Every month we run a promotion where you can get up to $10,000 just for trading on the platform. This applies to everyone who registered, so there are people who have made huge amounts of money over time. So if you want, check it out under the video. Now, one more thing. I'm going to open this "Zero Sugar W" now.
Let us know in the comments what you drink. And I must be quiet. I need to be quiet because " Bitcoin Baby" is sleeping right now . So I'll try to bring the microphone as close as possible. I missed. What, what happened? Yes, Brian, I think last week was a period of maximum pain and pressure because the Fed was raising rates very aggressively.
And we also had high oil prices and high interest rates. As you know, oil prices have fallen in recent days and over the weekend , and rates have been stable. Now the Fed's tight policy may be on the decline. Therefore, I believe that there are all the prerequisites for a sharp rise, especially considering how oversold the market has been .
I'm talking about this as an energy expert , I understand it. But how important is the fall in oil prices? Because this reduces bond yields. Bond yields followed oil. So, oil is getting cheaper, bond yields are falling, and stocks are rising. Is this some kind of formula? Yes. Because if you look at the components of the CPI that remain high , such as airline tickets and transportation services, they are all related to energy.
And, you know, last week's JP Morgan report that they do n't even have a baseline forecast for oil just told everyone that oil is expensive and you have to accept that. And I think that was also the point of maximum pain. And do you also take diesel fuel into account in this ? Because when you look at the price of diesel, I—and for me, even filling up with gasoline was a shock— to look and see the price of diesel higher, I think , 6.80, when I saw, 6.81.
Mhm. This is shocking. And I hear from completely different industries, the gambling business, that people are worried about what their construction costs will be because of the implications of the cost of diesel. Yes. And diesel, as you know, is widely used as an industrial fuel. So yes, it's a problem, and if there's a shortage, you can't fully replace diesel.
So I think there are good reasons why people should be concerned about energy. Okay, I just shot a whole video, but for some reason the audio wasn't working. So if you don't mind giving me a like or a hype button or whatever, I'd appreciate it. Oil affects everything. Rising oil prices affect everything we own, everything we spend money on, and the cost of every product.
So, this negatively affects many areas of the economy, and it makes people think that inflation is going to rise and the Fed is going to have to raise rates, which makes fewer people want to buy bonds now, which causes yields to rise. Yes, but they are not growing today. I mean, the AI trend is back in full swing today, and a little later we'll have Stephen Beard from Morgan Stanley on the show.
Let's. That would be gone. You know what? Stephen Bird, hey, no, let's add another voice to this great market, let's say Jay Woods from Freedom Capital Markets, also a CNBC contributor, will be joining us on the show right now. Jay Woods, thank you for joining us. I know that deep down you are a technical analyst.
You love graphics. So was there again some trigger, a catalyst that caused this? It happened out of nowhere. Yes, that's right, and it's technology. I just wrote a piece this weekend and called the market the “ultimate teaser” between the “ bulls” and the “ bears.” Last week, after the Fed decision, we broke through the 7600 level.
Then we recovered. Now we are breaking it up again. So, we need to look at the leadership that Tom talked about. The "Magic Seven" is reaching new highs. And then look at the stocks that could lead to a wild rally. They are already in the game. But here I want to cool the heat a little about this crazy rally.
Energy, we collapsed in one day. Nothing has changed. In your opinion: what has changed today? Nothing. We are risk-averse. There is hope that the Trump-Xi summit will go well. There are almost no earnings reports this week, except for Cracker Barrel and General Mills. Costco—that's interesting, but the real test of strength will be next week when Micron reports.
Micron is a stock, one of the top 10 in the world, that has the potential to grow another 10%. I Yes, to clarify: Micron is a $1.2 trillion company, and their revenue is growing at a breakneck pace, faster than anyone expects, and they are the last to report this quarter. They report on September 30th.
So, they will have very good forecasts for the next quarter, which they are currently completing. So this is worth paying attention to. This, along with semiconductors and software rising today, would take us back to the old S&P 500 high of around 7,800, but I don't think the tech sector alone will be enough to set new records and have a truly wild rally.
This is a good rally, don't get me wrong, but not so strong that we can fully invest in this market before the midterm elections. Yes, I agree with Jay. I think there is potential here. I might disagree that the sentiment is still quite bearish. Last week, the AAII poll showed a bearish majority, indicating sentiment at rock bottom.
And I know that our clients have reduced their risks. There has been a lot of exit from risky assets because they don't want to buy stocks amid the Fed's rate hikes. So I think many people are in the wrong position. I believe this could push the S&P above 8,000 by the end of the month. And we will now move on to Bitcoin and Ethereum.
In fact, I'll miss it more than last time. But this is not such a big prediction. 2.5% for the S&P 500 over the next 10 days—that would be good, but nothing extraordinary . Today, AMD has reached a market capitalization of $1 trillion. Meta is up 25% this month, Intel is up 35%, and last time I checked, the stock is up 11% today.
So what gives you confidence that there is still potential for growth? Well, I mean, these are examples of companies that everyone wrote off at the end of June, saying, "Hey, these are the big players, the AI trend is over." And then look how explosively they move. There are still a lot of companies that need to catch up , and, you know, AI stocks are still below their June highs.
So not only do I think the leadership will come from there, but as you know, crypto market moves typically outpace S&P moves, and crypto made a pretty big jump in August, and I think that's why we're seeing the stock rally in September. You see, they point to Meta on the screen. Meta is up 12% today.
This is still below the level of a year ago, and this despite the fact that their revenue increased by 22%. So there are a lot of companies like that that, yes, are up 10-20% in the last month, but they're still below their all-time highs, and Meta is trading at a forward P/E of 24. So, nothing crazy.
They just became very cheap because of the bad sentiment, and every month that these companies, these really quality companies, don't go up in price, they become relatively cheaper as their business continues to grow, especially in the case of fast-growing companies in the AI space . Take, for example, Nvidia, which is growing 100% per year.
If they stand still for 6 months, they become relatively much cheaper. Now let's move on to what he says about crypto. percent. At 85,975, it is the highest figure since January. Ether is now at 2,746. That's a 4 and 1/3 percent increase. Is cryptowinter behind us, Tom? Yes, it looks like cryptowinter is mostly over.
Although, perhaps, it's a little too early to talk about it. The crypto market has faced enormous difficulties. The Clarity Act did not pass. Interest rates are rising. There have been several high-profile disappointments, and yet cryptocurrency prices are rising. I think this is a major reversal signal when the market is rising on bad news.
This is similar to your thesis about a market where everyone is bearish, which ironically could be a sign of a true bull market. That's right. The previous seller probably sold last week or repositioned, and now we see a sharp jump. Maybe a couple of days late, you know, I expected this earlier. Quickly, how many of you?
Well, the rest of the time they talk about politics, so I don't want to get too deep into it. I'm not really interested in that. Bitcoin looks very confident right now . I've said it many times. It's very difficult to guess the exact bottom for many reasons , but, you know, the market feels the worst at the bottom.
It seems like the most bad news is coming out. So it's incredibly difficult to hit bottom, even if you know it's the bottom or have a pretty good guess. It would be very difficult to invest enough funds, unlike cost averaging. Like, it would be unpleasant to invest all the money you saved in one day.
Secondly, no one wants to buy that day. This is what happens when the worst news comes out and you think we're going to fall even lower. So yes, I agree with Tom that usually when bad news comes out but Bitcoin continues to rise, it can often be a signal that we have hit bottom. It could also be a misleading move, so it's hard to know for sure, but given that we've passed the 50-week moving average, hit new higher highs, and are already approaching the point where we usually bottom, it looks like Bitcoin is likely to continue to rise.
He's probably already hit rock bottom. Let us know what you think about all this in the comments below the video. If you want to trade, as I said, you can check out Bitfi. Thank you very much for watching. I really appreciate it, and I'll see you next time . I remind you, this is not financial or persuade you to invest in what I invest in or ask you due diligence.
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