So over this past week we’ve been seeing a ton of news happening within the crypto markets, yet we haven’t really been seeing bitcoin moving. We haven’t been seeing all coins going on a rampage. What the heck is going on in this video we’re gonna be doing a full breakdown on what that news is what actually happened this week and we’re also going to be talking about some other top. All coins listed on the market that may have a boom coming up soon. Now this video is going to be very important for anyone who is a current investor into the market or you’re just sitting on the sideline waiting to invest as well towards the end of the video I’m gonna be wrapping everything up together.
So you get a clear idea of what a lot of these top companies are planning to do, so you can make sure you have your positions ready for what we’re gon na experience this year, all right now before we get started with today’s episode, like the usual, If you guys do appreciate these uploads make sure you guys drop a like down below and subscribe to the channel, if you have not done so already, a lot of you guys have also been asking me brian. What is a good crypto exchange to get started with? If you guys also want to check out one of our partners for this channel ftx listed down below in the description, you can actually save up to 85 off trading fees compared to other competitors within the market. And if you are scared to invest because of all the transaction fees going in and out – and you don’t know how much your cost basis you’re losing check out fix listed down below in the description and with that being said, let’s hop into the computer and see. What’s going on in the market for today, so the global crypto market cap for today is sitting at 1.
5 trillion dollars or a decrease about 0.88 percent over the last day. We’Re also seeing a lot less volume going into the market, seeing it down 27, and this is actually happening because, while we’re filming this video real time, we’re actually experiencing a little bit of a market crash. So, even just within the last 24 hours, bitcoin had started to move up out of that range and it looked like were going to start breaking out of this downtrend that we’ve been facing over the past few months. Uh, as bitcoin was getting out into 43 000 boom within the last few hours.
We just started to see the price go back down to 41 000 as well. Now i’ll tell you this, it is definitely no need to panic if you guys have been following along this channel or you guys have been investors for some time. This is definitely completely normal within the crypto market. The question, then, is: why are we seeing this brian? How come bitcoin is going down, especially with all the amazing news that we’re about to talk about in the later half of this video now, first things.
First anytime, we do see market volatility like this. You have to realize that a lot of manipulation is still in play for most instances whenever we do get dips in the market. The reason why this is happening is because larger positions aka the whales who are liquidating millions upon billions of dollars within the market can single-handedly move the price. When we do see that – and we see a lot of people still continuing to use leverage – and we see those get liquidated, we then see mass effects resulting in a strong correction or even a market crash going the last day, you’ll notice that we did see a Bunch of the long positions going ahead and getting liquidated, as well as some of the short positions as well, but it looks like that is slowly accumulating right now. If the price of bitcoin does happen to drop more, we know that other alts will follow suit, and that will mean another strong buying opportunity for many other investors going back into coin market cap you’ll notice that any time bitcoin takes a strong dip in the market.
We see a lot of the top all coins going red as well scrolling down cardano is down 3.74, even though they are still up 3 in the last 7 days, with most all coins still down in price. Well, that is to say at least cosmos atom, which is holding its foot strong still sitting at 38 at the time of filming this video. Now a lot of you guys have been actually asking me on what the heck is going on with cardano, because within this last seven days we’ve been seeing a huge price to the upside as well. So we take a look at cardona you’ll notice that we experienced a daily high of a dollar 62 cents before cardano started to retrace and have another correction.
This is coming down from the peak of cardano, where we saw it approaching even three dollars at a single point in the last year. This was definitely the largest green candle that we’ve experienced over the past few months. So the reason why cardano did go up in price was because of the anticipation for something called a sunday swap. So, if you don’t know what sunday swap is this article actually breaks it down really really well, to sum it up, if you guys know how to use ethereum or if you’ve ever used another dex or decentralized exchange, this is pretty much ethereum’s version of what they Provided with unit swap and cardano now has sunday swap this last sentence here, they state sunday swap is an automated market maker that, in its early form, will serve as something like uniswap for the cardano blockchain. They also mentioned this article.
What really makes sunday swap stand out is how it’s adapting to traditional, automated market, making models to the cardano blockchain, which has a different accounting model and virtual machine. The team is well aware that the solutions they propose are nascent in nature and that there is indeed room for improvement, so today was actually the first day that the sunday swap went ahead and fully launched as the decks on cardano’s ecosystem. In addition to that, we also got word that tuesday january 25th is gon na, be the first round of iso rewards and then thursday january 20th is where yield farming on sunday will begin with. That being said, the price increase that we were beginning to see before cardona come out was exactly what we saw when cardano was talking about its massive upgrades. They were planning to make and we had that amount of hype in the market as well.
This is all happening based on the principle called buy. The rumor sell the news which we see happen often times in crypto. In anticipation of an event through hype, we start getting price driven higher and higher newer investors assume, based on higher percentage increases. We see with cardano is for them to start aping in and that’s often times when larger, more experienced, investors and traders begin to pull their positions out, resulting in this type of market movement. Going into the one day, though, this cliff we’re seeing, i do believe, is just associated with the downside.
We saw with bitcoin’s price action earlier today. To reiterate my point: if i pull up ethereum right here, we’re seeing the price action or the cliff uh, but ethereum was actually rallying just a little bit earlier this week too, hitting 3 400 before pulling back down to 3 000 as well. If you are a newer investor, i know a lot of you guys are more attracted to bitcoin, because it’s higher in price, you can buy a fraction of it. But if i was entering this market at this time – and i really knew nothing at all about all coins, i would still just be focusing on the swing trades right now with ethereum. If you are a super beginner, you don’t understand, swing trades.
Just imagine a swing going back and forth. You buy in when it’s low sell when it’s high and often oftentimes those peaks are pretty easy to calculate when it comes to looking at ethereum, it’s very, very simple. A lot of the round numbers relate to some of the support and resistance levels. So whenever we see ethereum coming towards the 3 000 level, that is oftentimes a good entry uh based on the market, we’re seeing right now, because we do see ethereum rallying pretty fairly quick right after that going back to the last month, ethereum was still at forty One hundred dollars, we did see it drop down below three thousand dollars getting bought up fairly quick, and then we saw this repeated pattern happening over and over again, where in the most recent days before today, it was even approaching 3 300. Yet again with all that being said, the crypto, fear and greed index is still indicating extreme fear within the market.
If you guys have been following along the basic principle of investing when the market is fearful and selling, when we’re seeing extreme greed, you should be pretty well set in the next few days, or even the last few weeks have definitely been strong buying opportunities. For many investors, so taking a look at defy llama you’ll, also notice that the tvl has not been going down drastically either. So all the all coins that have been down in price. We can definitely assume that this is just coming from bitcoin falling down in price. As well also correlating to the fact that we’re gon na see a quick market bounce as soon as bitcoin begins to stabilize with all that being said, let’s finally talk about what is going on in the world, there’s actually a lot of good bullish news that has Been coming out within this past week that i wanted to share with you in this video that is super super important for anyone who is invested now.
First things: first, instagram and facebook are reportedly exploring plans to make showcase and sell nfts. They stayed here as per the financial times. The plans are at an early stage and could yet change the publication says. Teams at facebook and instagram are readying a feature that will let users display nfts as their profile pictures as well as working on a prototype to let users mint new nfts. This is going to be huge because the marketplace within these nfts is where a lot of that money is and if it gets easier for people to be able to buy and trade nfts within one single app.
We’Re definitely gon na be seeing more and more people getting introduced within crypto, thus helping the entire economy grow. Facebook is not the only company getting involved within this market. We actually had earlier this week news that intel was to join the bitcoin mining asic market with a brand new chip. So they stayed here. The giant chipmaker will present bonzana mine, an ultra low voltage, energy, efficient, bitcoin mining asic.
At the upcoming isscc conference on february 23rd, it’s unclear whether the presentation will entail a product launch but a proof of concept demonstration or simply sharing a project. Now. This is really good news, because bitcoin mining and energy usage has always been a major flood point or a fear, uncertainty and doubt that mainstream media always pushes out onto major network major channels and just individuals who are trying to get into crypto. If we do get more companies stepping in like intel saying look: okay, if bitcoin is supposed to be taking a lot of electricity and it’s ruined the world and it’s bad for the environment. When we get things like this, when we get articles and news like giant chip makers coming in saying, hey, let’s help make a solution.
That’S going to be overall good news in helping the overall development of the crypto market as well. The next headline i wanted to discuss with you guys was mastercard, went ahead and strikes a nft payments deal with coinbase amid a wave of recent crypto partnerships. So the key points here to know is that coinbase customers will now be able to use mastercard credit and debit cards to make purchases uh with the crypto company’s upcoming, nft marketplace. And the deal is in the latest in a flurry of crypto partnerships from mastercard and visa, in addition to that, bitcoin and other cryptocurrencies were created to get around banks and intermediaries, but it looks like payment giants have embraced the asset class as it becomes mainstream. Now, let’s go ahead and relate news like that, with as an example, jamie dimon, who was the ceo still currently, is the ceo jp morgan, who was absolutely blasting crypto in its earlier days, but then decided to change his mind and even coming out with their own Coin, in addition to that, we’re actually seeing a lot more companies making another bet within the metaverse as well.
You may have heard about the headlines here and if you guys follow me on instagram – and you saw my story – you definitely saw this then as well. So, just two days ago, microsoft went ahead and decided that they’re gon na go ahead and buy activision for 68 billion dollars. Activision, if you guys do remember, owns franchises like call of duty and world of warcraft, but they were also tied up in a lot of different lawsuits and claims. They were also known to be like a fraternity style company, sexual misconduct and discrimination so uh. This acquisition here was pretty controversial, just because microsoft has been pretty good about making sure they stay ahead of the curve and they don’t get.
You know folded into a lot of the drama that we’ve seen with large amounts of tech companies, specifically facebook, which has been going through a lot of heat within the government. But aside from all that, the drama, the mess. The reason why this is important is because the reason why this acquisition is happening is so that microsoft can continue level the playing field and seeing other tech giants also investing into the meta world as well. Right now, it seems like there is a race between all the larger companies trying to make sure that they have the dominant presence within the metaverse one of the last paragraphs within this article states, microsoft said its deal for activision will allow gamers to enjoy hit titles. Like halo and warcraft, virtually anywhere, they want activision’s mobile business represents a significant presence and opportunity for microsoft as well.
Keep in mind the metaverse is all about being able to play, enjoy or be in a completely different ecosystem at any place in the world. Now i actually found a really really good research report earlier today with regards to defining the metaverse, seeing where it is and some of the competition that we should expect to see now. Page 6 of this 34 page pdf was actually one of my favorites and they went ahead and compared the different metaverses that were in existence now. What you’ll notice here on the x-axis is closed and then also open and then you’ll also notice on the y-axis, hi-fi and lo-fi so over here on the closed world, you’ll notice that you’ll see world of warcraft fortnite, which is more on the higher phy end. This is pretty much just talking about the vision and the emergent actualities of the metaverse, so this is how much you can actually expand, so they stayed here.
To put it simply, there are at least two versions of the metaverse. We observe emerging one dominated by closed platforms and big texts like facebook, oculus and the other built on open protocols like decentraland right now. We’Re trying to get a gauge on whether or not one is going to overtake the other, because if that is the case, then you may want to reevaluate your investment. So if you have a ton of money sitting into the decentraland metaverse games – and you know, facebook is going to dominate it anyways and we’re not going to get enough users on the other platforms, then you may want to adjust those positions there. But i think right now it is still pretty early to tell even going through this research report.
The basic principle that i was able to get from this is that, right now we may even have additional winners moving forward into the future, and it’s not all about just staying close-minded, where it’s one metaverse that is here to exist. We may be looking at in the next short term of one to two years, different metaverses that are coming to life now scrolling down to the conclusion. This is actually one of my favorite parts right here and they state we cannot assume it is both a panacea. Also known as a solution for the world’s ill, nor a utopia without its problems, but perhaps the metaverse is its saving grace is that everyone can finally have the ability to directly contribute to the first truly universal and permissionless economy. Humankind has ever known.
If you still aren’t fully on board with the entire metaverse world, i would definitely begin to prepare now, there’s just so much work that is going in there with regards to physical objects, nfts the economics of how an nft is going to blow up, but right now We’Re also seeing that the user base between many mainstream games is still a large whale compared to the shrimp of amount of people that are within the metaverse. So you guys might be wondering brian. We have all this good news, we’re getting all these additional reports or seeing the future of where metaverse is taking us web 3 nfts. How come the market is still so flat. Why did bitcoin take another tumble and how come we’re still not breaking new all-time highs?
With that major asset, there were some opinions of people expecting this year to be a super cycle, meaning we never go back down and we continue to see money going back up and up and up every time we break new all-time highs. The reason why i think that is a little harder to grasp, especially right now, is just because we are still in that early innovation stage, and we do see a lot of the cycle of money between traders who are actively uh, buying and selling different assets. And then also seeing the onboarding of other investors holding through some more difficult times in order for us to see an asset continue to break all-time highs every single time. We would need a lot of money coming in meaning a lot more newer investors or some type of green light or signal from at least the government regulations or the central bank policy that would enable people to have more confidence in a more speculative market. Like this, i mentioned this way before even this year had started, if you guys have been following along this channel, and i think the market is still going to consolidate, i still think it’s going to be flat and i still think we’re not going to be seeing That huge movement, maybe until the second quarter this year now this doesn’t mean we’re not going to see a lot of opportunity being made.
This is actually still one of the most important times for you to be doing your research and staying involved in the market. A lot of people make the mistake of entering the market once things get too heated and then you’re buying in at an extremely greedy time where the entire sentiment has changed. You want to be investing into a time where the overall market sentiment is down to where it’s at now now, with all the news that i’ve even showed you guys just in this short video here, this should be that sign for you to be more proactive with Your research get involved in the communities now because i’m telling you, when a lot of these larger companies are making these huge bets oftentimes, they are not wrong. Not only are we seeing the tech giants doing this, but we’re seeing a lot of vc firms entering more and more positions, changing their allocation into the future of where the investment world and where the entirety of the economy, the whole world is going to be. And that’s going to be revolving around decentralization, it’s going to be revolved around web 3, the metaverse developments and the nft market.
If you guys watch this video all the way till the very end, don’t forget to comment down below the secret phrase word that is going to be shard comment that down below, if you guys, are watching this till the end, uh, don’t forget to check out the Links down below in the description as well. Thank you to fdx for sponsoring this video. If you guys need a vpn or you guys want to join a community, don’t forget to check out the patreon group listed down below as well and the vpn service with surf shark. You also get a special discount if you use my link as well. If you want to go ahead and follow me over on twitter and instagram, i’ve been trying my best to post more on instagram, i’m gon na start, trying to post more tweets on twitter as well, some more motivation, stuff, some more crypto stuff.
And if that’s something that interests you don’t forget to shoot me a follow there. Like always. Thank you all so much again for watching today’s video have an amazing day and i’ll talk to y’all soon, peace,