Hey welcome back everybody to altcoin dailybitcoin is dipping, cryptocurrency is dippingin. Today’S video make sure you watch the entirething, i’m going to take you through the exactreasons. Why bitcoin and cryptocurrency aredown and then in the latter, half of this videoi’m going to tell you why my outlook, forcryptocurrency in 2022, remains bullish. Ifyou’Re new to the channel make sure you subscribewe drop one video every day, keeping you informeddemystifying the cryptocurrency market. This isinformation that the mainstream media will nevershare with you and if they do, they never give youany kind of context for it.
If you appreciate this smash the like button and if you have an opinion on the don market, why is the market down let me hear it in the comments below so pay at tension we’ll go through tab by tab reason after reason have. All of these things have just culminated into today exactly what caused bitcoin and crypto to dip number one. The federal reserve confirms interest rate hikes. This is a big deal federal reserve changed their monetary policy and the market is reacting. Accordingly bitcoin fell roughly five percent today, while ethane the remainder of the cryptocurrency market saw losses of upwards of six percent, even 10 20 in the lower caps.
These losses coincide with similarbut, more moderate losses in the stock marketas. The nasdaq fell by 3.3 today, so stock marketshowing weakness, along with the market slump, islikely related to the inflationary concerns aroundthe u.s federal reserve’s plan to raise interestrates combine that with bitcoin hash rate andmining. Did you hear about this?
Kazakhstan havingsome problems after mining was removed from chinakazakhstan gained a lot more bitcoin minersguess, what they just shut down their internetamid protests, causing bitcoin’s network hashrate to tumble 13.4 percent. No timeline existsas to when the internet will switch back on in thesecond biggest bitcoin mining country. In the worldbut, this is a temporary thing. Bitcoin hash, rateis down 12 due to power outages in kazakhstanthis, is the main reason.
Bitcoin is down not juststocks, not just a fed. More importantly, this dipis temporary. What else is causing today’s dipwhat else has been causing the dip over the pastseveral days? How about this big one whales, playingwhale games using leverage, big leverage with bigamounts of money and trying to manipulate themarket to get a certain outcome at a certain datecryptocurrency market? Is smaller?
More illiquidcompared to traditional assets or traditionalmarkets, because it’s newer and because of this wesee that whales can manipulate it with leverageand with fear. You know more than some otherasset classes. It’S part of the game with eachpassing day bitcoin investors are getting more andmore. Fearful. Investor sentiment is now at extremefear.
Dear noobs, bitcoin is not naturally goingdown. It is being pushed down via wales, spoofsell orders on exchanges to make noobs and riskmanagers sell to buy back lower. They are stealingyour bags and will make you buy back at a higherprice. So we’re combining all of this together ithink each one of these has something to do withtoday’s dip and understand this bitcoin is not theproblem. The problem isn’t dogecoin the problemisn’t ethereum.
The problem isn’t shibuyinu theproblem, isn’t solana, the problem is overconfidenceoverconfidence leads to leverage leverage leads tocrashes. Few understand this we understandthis and more than that, we’re not scaredlet me. Take you through some data that still makesme confident in 2022, over quality crypto, projectsbitcoin ethereum and the like. I mean this is justdata guys. You tell me what you think about thisthis is a pretty wild chart on huobi depositsfrom coin metrics, bitcoin and eth on the amountof coins on their exchange.
Just tanking meaningpeople, taking their coins off of exchanges. Allexchanges are dropping in their supply, but whydoes hiwobi look like it’s collapsing somethinghappen. Well, i guess it’s just a continuation overthis china ban. More importantly, if i were to bebearish, i would expect to see people putting theirbitcoin and eath on exchanges, so they can sell butthat’s. Not what’s happening and iwobi is justan example.
We’Re seeing this on many exchangesspeaking of ethereum ethereum has 72 millionnon-zero active addresses at an all-time highi mean this number should probably only go upsince, there’s so much utility on each and itis going up. That makes me bullish and speaking ofbeing bullish, you know, supply and demand is reallywhat causes prices to go up. So let’s talk abouteath scarcity engines in 2022,
9 million eachstaked in the ether2 deposit contract, the moneygoes in cannot come out till eat 2.0, is fully herecauses scarcity, 9.0 million each locked in d5again same thing: scarcity, 1.
million each beingburnt in fees because of utility. So all of thisis, great for ethereum’s monetary policy and supplyand demand speaking of other projects, i’m bullishon polka dot is literally in a class of itsown, with clearly the strongest developer growthsince launch of any web 3 protocol and by far thebiggest dev community outside of ethereum. Look atthis polka dot, really shining speaking of shiningavalanche, 1.6 million total wallets onavalanche. This is what we want to see.
Ifwe think this space, this project has a futuresamsung opens virtual store in decentraland’smetaverse. Samsung is opening its first flagshipstore in the metaverse. What you need to know isthis, dubbed samsung 837x. The virtual store ismodeled on the company’s flagship, physical storelocated at 837. Washington street in new york, citythe store, will offer a unique digital.
Adventurewhere fans can complete quests to win 8 3 7 xand ft badges. So this is the first of many youcan see the way that this is all trending and tome. It’S pretty bullish. Speaking of the metaversespeaking of nfts tezos enters esports with teamvitality sponsorship, nft plans. After linking upwith ubisoft, the proof of stake, blockchainnetwork becomes the main partner of a majoresports team.
There’S one industry, that’s growingalmost as fast as crypto and that’s esportspretty bullish right, pretty bullish. Speaking ofnfts for some of our other favorite projects, nftswill supercharge relationships between creatorsand users. More than 20 000 users already own annft on elrond network, here’s a first glance at theelrond nft ecosystem to help you get started, soi’m just going to want to show you these projectscontinue to build and develop and integratewhether the price is up or down, and that’s whati. Look for ave launching its permissioned pool ofarc, with 30 institutions set to join the lendingand borrowing platform added a permissionedliquidity pool to its other decentralizedofferings as a way to entice institutionalparticipants to have regulatory compliance in d5hey, say what you want about this. I have no ideawhether.
You think this is a positive directionfor, the space or not getting more centralizedi think it’s inevitable, and certainly in thecontext of the next year. I think it’s bullish forave. So you tell me what you think in the commentssection below. I hope this video provided you todaywith value. I think if you think that crypto, orbitcoin or ethereum is over, which many people dowhen it dips like this, especially people not inthe space.
I think there’s more to the story andthat’s. What we try to do here so subscribe to thechannel, like the video see you tomorrow, it’s goingto be a great year. Let me take 60 seconds and turnyou on to a major opportunity that most people incrypto do not realize they can take advantage. Ofthis can benefit most crypto holders and tradersgreatly, and this opportunity is through a sponsorof ours. Choice app so if you’re unfamiliar choiceapp enables you to buy bitcoin ethereumand thousands of other traditional assetsincluding 22 and counting crypto assets withouthaving to pay a dime in capital gains tax, thisis huge, so choice app offers more crypto assetsthan, actually any other retirement app.
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