Welcome back to kryptosauros, I am George, we’re all George, so today i want to cover whether or not bitcoin is in a bull market or a bear market. I know a lot of people are very fearful. Bitcoin isn’t doing too well. Today is not off to a great start for this week, so let’s take a look of whether or not bitcoin is truly in a bull market or a bear market. So let’s get started thanks for tuning in smash.
It like subscribe to channel two streams almost every day, 11 30 and 8 30 p.m. Central standard time so make sure you hit that notification bell to get notified and follow me on twitter, Facebook, Instagram and check out all the latest news article and guides at kryptosauros.com. Welcome welcome welcome, hopefully you guys are hanging in there.
I know that today, i kind of you know foreshadowed that some of the economic news may bring on volatility. If uh, they came out bad well, today there was one that came out that wasn’t too good and kind of spooked the the equities market. So you can see that the dow is down 600 points. Nasdaq is down 300 points right, so overall, equities market is not looking so hot right now, and traders are again being reactive and today the home builders confidence drops for a very first time in four months, which isn’t good. So i mean if you look at the nut index and I’m not a expert with the index, but anything above 50 is actually good, but it’s just it’s the fact that out of the last four months it’s been holding steady and finally, it started heading down.
So uh, so many people are afraid again that this is indicating uh the market or the economy isn’t as good as it seems. So again, it does seem, like traders are being reactive to this story and that’s why the stocks are selling off and it seems like wall street and some of the whales may be selling off bitcoin and crypto as well. So, let’s start with that, that, i think, is the reason why we saw a little bit more dip today. However, however, whenever we have these dips and we’re we’re used to it by now um whenever i we have these slight dips, i’d like to remind you guys that we are still within the same range as before we haven’t formed a new low. You can see some of the previous dips from earlier this month, starting from january uh, the first week of january.
You could see that i mean we had a couple of these dips right. We had one that went down to 39.5. We had another one here: 41.3, so relatively speaking, we’re no worse than we were just a week ago or two weeks ago.
Okay, so putting things into perspective, but you know the economic reports they’re they’re coming in one after another another we do have another one. Actually, two of them on thursday, one about jobless, uh claims and also another existing home builder uh report. So those will be important too. So a lot of these traders right now they’re just being really really really reactive right and it’s definitely having effect on the crypto market and bitcoin market. So what does this mean, though?
Does this mean it’s a long-term trend that bitcoin is actually in a bear market? Now, or is it still in a bull market, and we may just be in a bear trend, let’s just put it that way right. So what is it? Well, let me show you some of the stuff that i found that has happened today and recently and kind of give you my broad overview, because there’s just a lot of stuff going on a lot of data, a lot of reports, a lot of valuations and purchases And when you combine it all, i think you guys will see what’s really going on. Okay, let’s first start out with some of the big big announcements that have happened today.
Uh this is has to be the biggest one and i think most people this discarded. This all together, microsoft, decides to buy one of the biggest game makers out there, activision blizzard for a whopping 68
7 billion all cash deal. Now, when you look at this, you think well, it makes a whole lot of sense right. Why wouldn’t microsoft is trying to boost our xbox division and, of course, adding all the brands all the games within activision blister makes sense. So now some of my favorite games like diablo and starcraft, belongs to microsoft and call of duty and even uh king, which was purchased by activision.
It’S all part of microsoft. But what’s the real reason, though, what’s the real reason behind this? Yes, they’re boosting their games, but if you read through this article you’ll see the real reason for this is right here. The deal also plays into a long-term vision for microsoft, as it competes with meta, which is facebook to build technology, to create a virtual world called the metaverse uh, in fact microsoft, clcentea nadella. I think that’s how you say his last name was the very first big tech ceo to publicly acknowledge the value of the metaverse months before medicine mark zuckerberg.
Today, virtual worlds are dominated by gaming, but the hope is to expand to cater to other demographics and replace a lot of the traditional social networking activity online. So this is the thing you know when you look at this. Their long-term vision is actually planning for the metaverse. This is the reason why they’re purchasing activision blizzard, of course, yes getting all the games to be microsoft. Exclusive is a big plus, but what they’re really really trying to concentrate long term is building out their strategy for the metaverse.
So this is coming from one of the largest tech companies out there on earth trying to prepare for the next wave of gaming and social and e-commerce and everything else that comes with it within the metaverse. Okay. This is absolutely huge and of course, we know. Facebook has transited themselves completely, basically to the metaverse, so you got two of the top five tech companies in the world working on the metaverse, but that’s not all walmart, which is the biggest retail store on earth, is also looking very seriously at getting into the metaverse 2
Right so soon, you’ll be able to buy virtual futon within the metaverse within a virtual walmart store right. So i think this shows a pattern that these major companies as major brands, they’re spending so much right now to prepare for web 3.
. We talk about this term. A lot but they’re really really putting down their money right now to prepare for the next generation of social and virtual and ar and e-commerce and everything else that’s coming with it. So pretty big stuff coming and in addition to all these major major brands. Even some of the the the crypto companies are are putting down their money and expanding.
For example, this came out animoka brands, which some of you guys are familiar with: they’re the company that created sandbox and many many many other nft based games and play to earn games. They are basically involved with everyone. Their evaluation just doubled within the last three months. Now they are worth 5.5 billion dollars billion with the b.
So this kind of shows you how much money is being put into crypto companies that are building out the ecosystem right, absolutely huge and here’s another one metaplex – and this is a new project. That’S focused on nfts and creating nfts and minting nfts, of course participated by alameda research and also you got athletes like michael jordan. That’S involved! Well, they just closed the 46 million dollar funding round right. So all this revolves around web 3.
and the future of it and how it is just growing by leaps and bounds right now, it’s still early, but these companies that’s involved – are just really growing and making serious uh acquisitions right now right. So that’s number one. So are we in a bear market well in a bear market? Traditionally, this type of stuff doesn’t happen. You don’t have evaluations that keep doubling and tripling and going up, and you don’t have a lot of massive purchases during a bear market.
So that’s number one. You got a lot of things going on well, i talked about nfts. What about open, c, open c? You would figure in a bear market. Everyone would be selling off their nfts right.
It wouldn’t be doing well, but that’s the opposite. In fact, january, for for open c volume is the highest in its history, even higher than back in august when it exploded first – and you could see this trend, how it kind of went down in november. But december came up in a big way and in january sales right now is higher than even back in august. It’S all-time high, so you would figure in a bear. Market.
Nfts would just be doing absolutely horrible right. No one will be buying nmts. Everyone would just be selling off. That’S actually not happening right now, there’s actually more volume right now going on than before, so think about that for a second. So, are we really in a bear market or maybe we’re not maybe we’re just in a in a down state right now right, but obviously there’s a lot of money and you could clearly see the volume up here, how it has exploded and how it’s heading higher.
So here’s another thing: are we really in a bear market? Well not according to this, not according to this at all. Well, what about some other stuff? Let’S talk about some exchanges. What are the exchanges doing?
Are they consolidating? Are they trying to just prepare for crypto winter? Are they trying to prepare for bear market? Well, not really they’re. All expanding so take a look bitmex, but we know them from uh from their old good.
You know 100x leverage days well, they have revamped. They kicked out all their. You know prior founders, they’re trying to become more legitimate and they just acquired a 260 year old bank german bank because they want to expand our offerings. They want to become legitimate so that they can offer traditional banking services and crypto services and become one bigger, uh property. I guess let’s just put it that way, so exchanges are not not uh, not holding tight, uh ftx.
This just came out recently ftx. One of my partners establishes a two billion dollar fund to invest in crypto startups, two billion dollar fund. We know sam uh, sam bankman freed uh, the ceo of ftx he’s using his war chest and he is investing and investing investing right now. So obviously, this is going to help the economy uh the crypto economy, and this doesn’t really indicate that ftx is buckling down and trying to prepare for winter. No, they are continuing forward because they see what’s coming right.
So there’s just a lot of things going on. Even at kevin o’leary recently he went on, i feel uh anthony pablano’s uh podcast once again and he revealed that his total portfolio now uh his total crypto portfolio is now at 16.
5 percent of his total portfolio before he said that he would never want his crypto portfolio to be outside of two to four percent. Then it jumped up to about 10.7, and today it says 16.
percent and he’s still okay with that he likes the growth. You know why, because he purchased canada’s largest crypto exchange bit by and he’s con he’s, calling a wonderful now right, so even kevin o’leary, who once upon a time thought bitcoin, is a nothing burger. Now is very, very, very uh, enthusiastic about crypto’s future, so exchanges are also not indicating uh they’re making moves that are not indicative of a bear market. Let’S just put it that way, they are still moving forward, they’re growing. They want to expand even more right now.
What about outside of exchanges? What about miners? We got to talk about miners right. Well, take a look at this. The total hash rate for bitcoin is now at an all-time high and it continues to go up.
Despite the fact, we had some fun recently about kazakhstan and their power outage and how miners may have sold well. That doesn’t correlate with this, because the hash power of bitcoin is as high at this point than ever in history, it’s the highest ever no miners selling. No miners turning off their their rigs. So traditionally in the past, when we have bear markets, uh miners would be selling because they would be at a loss or they’re trying to prepare for extended winter. That’S not happening right now.
No one is shutting off. In fact, you have miners like rhodium, that is set to go public and is valued already at 1.7 billion dollars. This is on top of all the other miners that have come to the north america continent right. You have hud, 8 and riot and mara.
Now i got rhodium and there’s others that are popping up and they are in it for the long haul and their moves does not indicate we’re in a bear market either. Okay, the miners continue to hold continue to mine. They even continue to borrow against their bitcoin to buy more machines, but that is the reason why the hash rate is also going up. So again, does this indicate we’re in a bear market? No, it does not.
It does not at all – and you have big tech companies like jack, dorsey’s, block, aka square, that’s open to building out the the mining ecosystem. They go, create an open source. New bitcoin miner, we’ll see what that means right. So there’s a lot of tech companies. That’S also involved with mining and not just mining, but also just growing the ecosystem and, more importantly, buying and holding bitcoin right.
So looking at bitcoin treasuries, we know that microstrategy keeps adding on and on and on and more bitcoin. We know that tesla and square. They still have whatever they bought, but all the other big players. They continue to add all the mining companies. They continue to add to what they have, and you still have investment companies like galaxy, digital and voyager right.
They have a ton of bitcoin that they held over the years, and this list keeps growing it’s not shrinking. It keeps going up because none of these companies are selling again. Are we really in a bear market? Not according to these guys and even fidelity recently came out and said that countries that secure some bitcoin today will be better off than their peers. That’S a big statement.
That’S a big statement coming from one of the biggest asset managers on the planet, claiming that you should buy bitcoin now as a country, you should buy bitcoin, because if you don’t you’re gon na be worse off than your peers, so think about that and all this Buying and all this holding, what does it mean in the long run? Well, this is what it means the liquid supply has moved to an all-time high, despite the fact that the bitcoin price has come down the liquid supply, the number of supply that is outside the exchanges that’s being held by some of these big players, like the miners And the whales and the institutions and tech companies they’re out of circulation, and this is the reason why liquid supply keeps going up. And of course, there are some retail investors like you and i that are smart about it – that we’re taking advantage of the dips right. We’Re taking advantage we’re buying, and that of course contributes to this, but ultimately this is the reason why a liquid supply has kept going up and is at an all-time high right now, so putting all this together. All this together, you have some of the biggest acquisitions being done right now on earth that we have ever seen.
That’S all focused on metaverse and the future of metaverse right. You have all these evaluations and funding rounds and acquisitions. You have nft volume that is still exploding. You have exchanges, that’s coming out with bigger and bigger funds and exchanges that are trying to get into other sectors. You have minors that continue to mine and grow and add to the network, and you have a lot of big companies that continue to buy and hold, and now even countries.
So when you put it all together, are we really in a bear market? Can you say that we are in a crypto winter or a bear market, or should we just define it as maybe we’re going through a rough patch right now? Maybe we’re going through a bear trend because all the fed announcements and and the panic selling of traders – but i would say, we’re not in a bear market we’re still in a bull market. I honestly believe that we will still continue to head higher. You look at all the growing stuff in the system, the fundamentals it’s getting better and better and better.
You can’t argue that it’s not getting better. So what should you do about it? You need to stay strong, it’s what you need to do. You need to realize that we’re at the beginning of the web 3.0 revolution just like when web 1
0 came out not a whole lot of people believed, but the people that did they became billionaires.
Okay, so we need to prepare. We need to know that web 3.0 is coming it’s coming fast and we’re we’re in the right space we’re in the right direction, but we just need to prepare ourselves. Maybe there’s going to be more volatility short term, maybe some of the economic reports and what the fed is going to do and the fed decision and the upcoming uh rate hikes and uh and balance sheet. You know sell-off will affect the market short term, but man long term things are looking better than i ever been, and this is the space that i want to be in in this space.
I don’t want to leave ever ever, so you guys decide what you think. You should do and whether or not we’re in a bear market or bull market all right outside of that. That’S pretty much it that’s what i want to cover uh today. If you look at the entire list, pretty much all in red, but just slight red, not huge reds. You could see that the reds are.
You know one two, three percent, nothing double digits or anything like that. It’S kind of like just one of those days. It’S not good, but it’s not that bad. But if you pay attention to everything else, it should give you hope to stay in the game and focus on the long term. Alright, that’s it now, let’s do some q a all right.
That was a lot said right there. Hopefully you guys enjoyed that. I think i think some of you guys were prepared for me to come on declare it’s a bear market, but no, i just don’t believe it. I just don’t believe we’re in a bear market. We could be in a bear trend.
I i could. I can make the argument that we’re in a bear trend because of all the panic selling by wall street right being reactive, so i could agree with that, but we’re not in the bull market. I mean we’re not in a bear market, we’re still in a bull market. We just need to. We just need to be patient.
We have been through this before trust me. I have been through so many of these periods where it seems like bitcoin, cannot move and will not go up until it does all right. We will get through it. We will all right scrolling up. Uh lucky says: if this is the bear market, i could definitely deal with it because bitcoin is still at 41 000.
So i i can’t disagree with that. Um all right. Let’S see, i’m uh scrolling up making sure that there is nothing here uh. The only thing i agree with ben about is there will be a 10 to 15k candle to the upside. Very soon it’s just a matter of patience.
Yes, yes, that is true. I don’t know which bend you’re referring to, but yes, um, don’t believe in a fud. I bree, i agree with that. Intel bobo says intel has come out new mining chess. I missed that, but i wouldn’t doubt it i mean mining is a serious business.
Uh miners is a serious group um. I i would almost compare them to like you know. Um back in the day, or not back in the day, but all the oil refineries and all the people that control the oil fields right. I would make that argument that bitcoin miners are are the new form of that right, um all right, let’s see here, you could get a tesla to mine. I heard about that, but you like invalidate your warranty.
I believe uh microsoft deal for activision blizzard. I mean that’s a huge freaking deal 80. What is it no 68.7 billion all cash, not even stock. There’S.
This shows you the war chest of microsoft and these tech, big companies right they have hundreds of billions of cashes laying around – and this is this – is micro. Sailor’S worst nightmare to have so much cash lay around and just being deluded by inflation right. So that’s why he decided to buy bitcoin, but these big tech companies they’re buying out other companies and uh. And you know what in this case is to prepare for the future to prepare for web 3.0 on web and uh and the future of metaverse.
So it’s it’s pretty big deal. It’S a pretty big deal. Let’S see here, terry says, george, when bds goes 20k. What’S your explanation going to be, then it’s going to be the same thing. It’S going to be the same thing.
Everything i’m showing you guys is still going to be in play. So even if bitcoin goes down to 20k it’ll be the same thing. I will turn bearish when all these things no longer apply all right when every single metric and all indicators show that companies are no longer interested they’re getting out of crypto they’re, actually selling off what they have they’re, not making investments anymore right. When all those things happen, then you can’t ignore that, but based on everything i’ve seen and i’ve shown you guys, how can you make an argument that that is the case? You can’t because it’s going the opposite more and more companies, islands and countries and and tech is all moving towards web 3.
and acquiring uh more crypto. So i mean i, i don’t know how you can argue against it. Uh, let’s see here, miners keep adding or more minor sounds inflationary to me alex. I don’t think you understand what you’re saying that doesn’t make any sense celsius just added avalanche to their network. Seven percent apy – that’s not bad, but you if you natively stake avalanche.
It’S already like 11, if you do it through their web wallet, it’s more than that already, so it doesn’t sound like it’s the best the best deal uh, let’s see what i miss here, should i put my life savings in sheba or ada uh. At this point uh, you shouldn’t put your life savings, but you should dca and i would say ada would be a good uh, dcaa candidate, uh thinking about getting a helium miner for passive income and to accumulate helium for sure. Do you thought that we thought i think helium is good if you could get a miner go for it, they’re, very profitable, and also, i think the project is doing good things. Uh building out a low mesh network and 5g network, which we know 5g is is absolutely huge. So, yes, i do like the project uh suck.
Brick. Thank you. Do you think deep vikings manipulated joule price? No, they are not uh thoughts in geral wallet. I don’t know too much about it, so i can’t talk about.
I know that it is getting pumped and dumped a lot uh. I hear i remember early 2021, you said cardano will go to 50 in 2021. I don’t know if i said fifty dollars and chain link to a thousand. Yes, i was basing on if bitcoin would hit that hundred hundred fifty to two hundred dollars a more obviously that didn’t happen. So obviously those predictions didn’t come true uh.
What do you think about proton? I don’t know i’ve looked at proton before i wasn’t very impressed by it uh. Why is rocket tanking? I don’t know people. Maybe they get.
You know they get all their kicks from uh open fans. Instead, i don’t know um. Let’S see joseph says, i’m glad people are bearish, we can’t all be bullish. That’S true, you know, there’s always a market for somebody right. So, in order for someone to sell, there’s someone on the receiving end to buy right so when it comes to making profit or building wealth with any kind of investment, especially crypto, it’s just a matter of having patience.
Uh wealth is being transferred from the inpatient to the patient. That’S really how it works. There’S a lot of fantastic things going on. You just have to pay attention to it. You can’t pay attention day-to-day price and even if you do pay attention to the price day-to-day, it’s not that bad.
I mean just last year, ethereum was under 2 000, and i mean if you go just go last year. Bitcoin was under 20 000, and some of these prices are just you know, hundreds of thousands of percent higher than last year, but people don’t want to focus on that. A lot of people want to focus. Oh, it fell down for 69 and 41 thousand. That’S the only thing i want to look at, but if you, even if you look at a price perspective, just zoom out a little bit, don’t look at 24 or 7 day, just look at it from 6 months to 12 months.
So if you’re, an investor you’re going to be concentrating long term anyways – and you look at six months 12 months most of these projects, especially the ones that have a ton of d5, going on with them, they’re up thousands of percent. So there you go um. Can you people with a bear in a bowl? I don’t think that’s possible. I don’t think that’s possible constantin.
I appreciate that uh solano will eat lunch this year. I i don’t know i. I still have big hopes for ethereum 2
0, i want to see what happens once they come out with it uh how they’re going to use dk roll ups to scale um so it’ll be interesting to see what happens so that that’s around five more months in june. Hopefully they don’t delay because if they delay it more, then it’s really going to put a lot of pressure on them, because all these other chains that are up and coming they’re not going to be waiting they’re growing and they keep growing so uh. Let’S see here, uh, stefan son nasdaq is is falling really hard yeah, i mean you know it.
There’S no doubt that today, the little debt that we’re seeing crypto right is due to this and again there’s just a lot of a lot of wall street hedge funds. Traders, they’re just being really really really really reactive to this, and unfortunately you know crypto is – is also getting affected right. There’S no doubt about it. There’S a correlation right now, but what they don’t understand is bitcoin, it’s not a stock. It’S an asset, it’s an asset that you invested, not to trade with right, so they’re going to be the ones that’s going to be following in once.
Bitcoin starts coming up again right, so you don’t want it to be following the hurt. You want to go against the herd and the herd right now is bearish. They want to sell right, that’s where you want to take advantage and pounce on things and take advantage when things are low right, you want to be against the grain, basically going against what the fear index is indicating, which is extreme fear level right – and i made This argument before, because if you look at any time, we have extended periods of fear, that’s when bitcoin bounces right back up and when the crypto market bounces back up right. So you don’t want to be selling down here and buying up here. That’S not what you want to do.
You want to be buying down here and possibly selling up there or just holding uh forward right. So, unfortunately, the volatility we’re seeing right now is based on wall street having a panic attack right now, but they will get through it and then they’re gon na come back in and they’re gon na follow back in. But you know what those of us that’s in the game already we’re going to benefit a lot more by being able to buy the dips right now and holding so that’s my honest opinion. Let’S see, how do you make please do a video how to stick for dummies. There’S a lot of videos, i’ve done already and there’s a lot of articles on cryptozoros.
om. So i honestly think that if you need a step-by-step go to kryptostheros.com and start checking out some of those articles, carlos looking forward to chatting with you – i don’t know in what regards and where uh roon seems uh domain and quiet with all the d5 project. What’S going on with room, roon is just a liquidity pool, that’s meant to be used with d5 projects, so thor chain is kind of like its own system, not a whole lot of people talk about them and they got hacked a couple times right, but they’re more Of a liquidity provider um and you could stake. I’Ve shown how to stake on them before, but there’s something about them.
They’Re, just they’re, not as appealing as some of the other ones. That’S out there. So, let’s put it at uh t-bone says: helium rewards have decreased a l a bit got my last week, ordered in june wow. That’S six months. Wait uh seems to be 300 per month in my area, not bad.
That’S not bad and i’ve known some people that have like three or four or more and that’s pretty good passive income right there. You just have to find places to to distribute it. So that’s not bad! That’S not bad! If you think about it, uh mark you wish, you knew, george, don’t you get tired of babysitting these news?
The only thing i get tired of is the fud spreaders and the people that are spreading fud. Being all bearish. I don’t mind answering general questions, but when i see a ton of people, that’s just being all bearish and just not really paying attention to anything, i’m saying well that that does get to me sometimes, but for the most part most of you guys are watching me. Have been with me for a very long time, you know what i am all about, what i pay attention to and what you know, the the facts and the fundamentals that i present right, but man, sometimes those uh funders, they’re hard to deal with honey badger, says: George, have you taken any proper reason to buy these zips? No, but i told you guys: i’ve been buying the dips, not every one but a few occasions, because i have cash on the side.
I’Ve always told you guys to have cash on the side to be able to buy the dips right. One way to do it is take profit and other ways do it is just to set cash on the side. You know from whatever income source that you have um or if you have a side, gig or side hustle put some cash there and wait for opportunities and you could either use it for our scheduling, dca every single week or whatever or um or you just. You know take advantage of dips when we have large dips and today is not a large dip. Actually, it’s not it’s not, but we have had some before all right guys.
That’S it thanks for uh tuning in overall, you know we have some volatility. Today we have a little bit of a dip because of what’s going on in the equities market because of bad home builder reports, but we will get through it and this question of whether or not we’re in a bear market or a bull market. You guys decide. I presented my case, i think it’s a bull market, you, let me know if you think otherwise, thanks for tuning in smash it a like subscribe to the channel and i’ll see you guys tonight, 8 30 p.m.
Central standard time take care, guys bye. You