lee will break down the one chart he says could tell you everything you need to know about the crypto universe, but first we start with two words we haven't uttered in months. stock paradise >> yes the place where stocks go up and records happen every day earnings are great and interest rates stay low and the only thing that gets mad is your bank account and it all happens today as chad powell gives the all-clear signal so with the trade war beheine us or at least at bay, will stock paradise last? tim. >> i think that paradise should be sweet and two tickets to paradise with it being a big friend talk about threading the needle and whatever you want or listening to eddie money as much as you possibly can on a friday because it means money. >> we have two tickets to paradise what was the other one nobody remembers >> be my little baby >> take me home tonight. anyway, bottom line here is the consumer is alive and well and that's been the leg of this rally that has room to go. think about the wealth effect that's going with folks. certainly their stock accounts and their 401(k)s, and most parts o

caruso-cabrera, and the traders are steve grasso and don nathan tonight on fast, the development in the crypto universe that is a game changer for bitcoin he'll explain. plus disney earnings are on deck and one trader middle it could add magic to your portfolio. first, though, we'll start with the big winners this week. check out some of these names. we talk about apple and tesla all week and pfizer was up 6% and kraft hines up 7% and coarse up 8% and a big week for apple hitting a trillion dollar market cap up 9%. we thought it would be a good time to play trade it or fade it >> i think we understand. >> if you tell us if your trading it, and fading it, aka, selling it >> and we play this gaumme a lo and in this case, fade it is the right thing. fade it doesn't mean necessarily short it, but you had this big run-up and you have insider selling here take some off the table and fade it >> look at that chart, though. for a chart that's done nothing for the last three years, the technical guy in me tell us me this chart is breaking out >> it very well could be, right? you've had this massive run up here,

make it ship sticks. >> welcome back to "fast money," a similar way to play the crypto universe hi, bobhere's no bitcoin etf, but since 2015, europeans have had access to a bitcoin etf or exchange traded note and the bitcoin tracker trades in swedish corona and there is a bitcoin trader, and it's listed and regulated in sweden. as of today you don't need it, you can buy it in dollars. a brokerage account to own bitcoin through an alternative means. the bitcoin tracker one does reasonably track the u.s. bitcoin index both down 50% so far this year. this sounds like good news, but bitcoin barely moved today and the u.s.-based bitcoin investment trust is a closed-end fund that owns bitcoin directly dropped about 5% and that's curious, the fund trades at a premium to bitcoin and some investors put it into this tracker one. what is the difference between an etf or an etn or exchange-traded note it's important and with the etf you own the underlying commodity and in this case it's bitcoin and you do not you own a debt instrument that's backed by the issuers that track the index or commodity a

and crypto breaking below 6,000 before hovering at those levels and the move as a whole has the crypto universe in a frenzy. bill harris who previously called bitcoin a scam says it is about to get a lot worse he will be here and the tesla saga continues and elon musk reportedly going rogue as the company's board is scrambling to keep up, but are they doing enough first, we start off with the retail at record highs and the already hot retail trade is getting hotter as they have a four-day losing streak helping to boost some of the biggest names and check out these in the past month, and macy's up 50% and that's after reporting earnings tomorrow morning and most of them and jcpenney all up double digits. do you keep betting on the consumer is this a good sign for the rest of the market? >> i think it is a good sign and the higher spending that we're seeing from the consumer and the gdp will round the 4% level and a little bit above that, and home depot, if you look at the number, they were spectacular numbers and the reactions that came out later after the call. across the board when you look at

despite rejections from the ftc and brian kelly says the action could be a bullish sign for the crypto universe. he will explain, but first we start with the words that raise a lot of eyebrows on wall street today. >> i'll tell you what, if i ever got impeached i think the market would crash. i think everybody would be very poor because without this thinking, you would see -- you would see numbers that you would not believe in reverse that is right. president trump does seem to have the whole world in his hands or at least the whole stock market the s&p 500 is up 34% since he was elected, has gained a whopping $6 trillion in market cap during that time and so as the drama around the president continues to build, is this stock market rally really all hinged on trump and if he does get impeached or resigns, and of course, that is a big if, what would that mean for the market tim? >> no one wants to hear my politics and i don't think anyone wants to hear on a market show to hear the politics. to me what caused the market's move and what was more important was when we found out the republicans had

. >> as you know the crypto universe is really bond jovi as you heard there are hopes for bitcoin etfs money also thought coming in boost bitcoin and many institutional players still hesitant to get in this is thanks to the lack of regulatory clarity around crypto there is been nothing so far on that front our next guest, bitcoin inve investor, one of their prayers will be answered, to m lm lee is here give the crypto investors something to feel good about right now. >> well, one of the ways to see how the crypto market is reacting to news is to look at dominance. crypto currency shares on the market and i want to focus on bitcoin. for many years it was the only game in town, at the start of 2017 it was 80% of crypto market in 2017, that number actually fell it fell to 37% last year we had ico and a lot of new projects and people got excited. a lot of folks thought this is how the year would play out and the dominance would fall bitcoin's dominance have been creeping up. in the last couple of weeks it sored to the highest level all year to 48%. it tells us the news that we have seen fr

caruso-cabrera, and the traders are steve grasso and don nathan tonight on fast, the development in the crypto universeis a game changer for bitcoin he'll explain. plus disney earnings are on deck and one trader middle it could add magi

and crypto breaking below 6,000 before hovering at those levels and the move as a whole has the crypto universe. bill harris who previously called bitcoin a scam says it is about to get a lot worse he will be here and the tesla saga continues and elon musk

lee will break down the one chart he says could tell you everything you need to know about the crypto universeh two words we haven't uttered in months.

universal basic income using a crypto currency for the city one that private organizations or landholders would be contributing to and distributing it to the community for them to. you know have access to the services. and what would. be the universal basic income would you want to implement that if you were in a position of power. you know we can look at it incrementally even with crypto currency stuff like that idealistically is an anarcho commie communist i do believe that now more than ever we are able to advance and to post scarcity we have new technology. in artificial intelligence three d. printing. we're at a point where i believe scarcity is is manufactured it's artificial so i'd like to move past that you see being supported by capital is mostly you have. and richard branson recently came out favor of it mark zuckerberg these are people who own mass amounts of capital and u.b.i. would be a way for them to somewhat quell the dissent of. impoverishing the working class that are getting fed up with being taken advantage of it's kind of a band-aid it may be a step in the right direc

crypto. would this work? what is goaltendedman proposing or thinking about here? a it's essentially safekeeping service. if this comes to pass, this could be a significant step for universe funds out there. crypto believers say they don't approval. stamp of at this point looking at how the year has gone for them, they probably do. in that space is trust. the big issue is how do you assets from getting stolen. you have a large wall street institution saying it can offer safekeeping service, that would be helpful. >> is this going to create a for people onment who maybe aren't believers in crypto now to now enter into the space? >> certainly. at the audience here, or a lot of the up and coming crypto fund manages, they need to convince investors to hand to them.r money you have to think about it in a largehat incentive does a investor have in handing over or r money to aly lennall some 25, 30-year-old. when you know that there is a good chance that the money won't stolen, the money will be safeguarded when it backed by he larger institutions, more people would be willing to get into this space. that would arguably give it a boost. >> correct me, it seemed like they were ab

some of the crypto currency and can install mall ware. >> they just completed a study of schools in the u.s. >> we had 11 universities participate in the opt-in study and they had detechs. >> he say that is mining at school made him who he is today. working a the a major tech company. >> i'm andrea day for "on the money. >> whether it is profits from bitcoin or scholarships or loans, they have to figure out how to pay for the college constitution >>> steven dash from credible.com an online marketplace for students to compare and shop for student loans. federal interest rates on student loans have increased for a second year in a row. >> federal loans which are loans people take out first when trying to find college increased. and the federal loan rate is based on 10-year treasury yield. >> and how much might that add to what a student pays back? >> if you are a typical undergrad, you may borrow $7,500 which is roughly around the median, these increases will increase the total repayment by about $10,000. >> is there a way for students to lock in the rate. >> you take out a student loan every semester or year, the rate

to one million percent by the end of the year garrick harbored is a crypto currency economist and a research associate at the university of cambridge he says there are many unanswered questions over the security of venezuela's cryptocurrency market. so the petro does achieve a degree of credibility and is in fact oil back there are oil reserves that people can count on to be backing the petro then it's very likely that petro could actually help stabilize. the situation in venezuela and that in turn could have a positive effect for the average venezuelan who's been being expropriated really liquidated by the hyperinflation that's been taking place in venezuela over the past seven years but again is there really going to be oil backing. could someone go to the government to have like my petros for oil we shall see we just don't know the answer the question if the currency is designed to help fins a whale a skirt sanctions and has privacy built into it in anonymity then that could have both ways it may also undermine the bins the wailing government's ability to collect taxes and crack down on the list of track trade so it

but if this comes to pass, it could be a significant step forward for the growing universe of cryptofs will say that they do not need a stamp of approval from mainstream finance, but at this stage they do. scarlet: do we know how far along the planning or strategizing is? is it first inning or fifth inning? whenldman created a stir they hired somebody has their head of digital assets. but throughout the year, right now, he is just famous for his man bun on the trading floor. but they have been trying to get if a structure up and going. once they get all of the relevant approval, they hope they can flip the switch on and take the next step. scarlet: that is justin schmidt. [laughter] thank you for that. who else is working on this? there are others jumping in. are they teaming up or is it a go it alone strategy? suspect goldman will consider teaming up. you have some of the big players, some of the big names in wall street who want to do more in this space, and some up-and-coming names who want to do more. like the next goldman grad who wants to set up his own crypto. taylor: stay wit

a million percent by the end of the year gary coleman is a crypto currency economist and there was says research associates at the university of cambridge he thinks there are many unanswered questions over the security of venezuela's cryptocurrency market so the petro does achieve a degree of credibility and is in fact oil back there are oil reserves that people can count on to be backing the petro and it's very likely the petro could actually help stabilize the currency situation in venezuela and that in turn could have a positive effect for the average venezuelan who's been being expropriated really liquidated by the hyperinflation that's been taking place in venezuela over the past two years but again are is there really going to be loyal back in the petro could someone go to the government's hand like to convert my petros horwill we shall see we just don't know the answer to these questions at this point if the currency is designed to help venza will a skirt sanctions and has privacy built into it in anonymity then that could cut both ways it may also undermine the venezuelan government's ability to apply taxes in crack

university of texas research. that tells me if it is not worth anything. if you have 1300 cryptout there, who is to say about it coin comes back or not. stuart: what do you mean about manipulation? how is bitcoin's price manipulated? >> there is related currency called tether. if bitcoin is down, they release tether, the conversion mechanism from dollars to sigher currency. anytime this fell they would release that in two run parallel. this university of texas research is very, very credible and very eye-opening. you have to read it with a open mind. a lot of people anxious for a quick buck will not take the time to do that unfortunately they will find out the hard way it is manipulated. worse than the big banks, worse than derivatives, worse than anything that caused the financial crisis. stuart. keith, we'll see you sir. thank you, sir. >> thank you. stuart: at the top of the hour i talked about the editorial about the unrest in venezuela. we have the expert on that subject. mary an terrible that o'grady, from the wsn. -- "wall street journal." anything to help venezuela would

universe, note nine versus iphone x. but all the phones. it is a battle, we to try to figure out is happening here. apples flagship models. the cofounder says the cryptonger after the past years bubble. it has been a brutal august so far for the world's biggest digital currencies. tick-tock, meet the 27-year-old fighting for hong kong's independence. activists speech on tuesday. check other stories and more training on bloomberg online or on the terminal. this is bloomberg. ♪ yvonne: taking a look at japan, right now, we are saved down about a 54% right now. we are actually saying things to -- turned negative in the last half hour or so. we are expecting a quieter session with this turkish turmoil. let's do a quick check of latest business use flash headlines. copper fell to a one year low. the two sides agreed to extend talks into wednesday. this is an attempt to avoid a second strike continues. copper is often seen as a barometer of economic growth. they turn out about one million metric tons of the middle each year. china investment corp. is set to be backing up a potential bid. the part of a consortium with phil house capital that is considering a