Hey welcome back everybody to altcoin daily bitcoin right now, consolidating near its local lows, making a series of lower highs, and lower lows right now: sitting around 46 800with, the altcoin market dumping even harder are you bullish. Are you bearish smash the like button and? Let’s talk about the current state of the market my thoughts for the short term, my thoughts for, the long term, there’s no getting around it bitcoin continues to sink lower. Although i think it’s worth noting that what we saw back here, isa slightly higher high than what we saw near the beginning of 2021 and where we are today, is still a higher low than what we saw in July of 2021there’s. No getting around it.
Taking a look at the shape of the price action very similar to what, we saw here so this bear is saying: if this repeats all alts will get absolutely decimated regardless of their utility just like before. And many won’t rebound, have both bullish and bearish trading and investing plans ready listen nobody likes to talk about worst case scenarios but. This is on the table here now. I myself am preparing for a massive dump, but also i don’t think. This bull market is over.
I’M preparing for a massive pump, but before we get into that let me just talk about why it is possible wesink a little bit lower. It is possible because of news like this exploits like this and the fact that. This news is getting propagated, hardcorewith, the nft fud, just everybody is hating on nftsand cryptocurrency right now, combined with stufflike. This i mean some people do this to manipulatethe price down lower to get in better buysor, because they’re leveraged trading and they needto manipulate the market. The whales do to makesure, they don’t get liquidated well either.
Waylet’S go over these two recent stories and thenwe’ll talk about how i’m preparing for a majorpump. So i mean, first of all, sec further delaysbitcoin spot etf decision. The much desired bitcoinetf continues to elude u.s investors. Although theyhave a spot, bitcoin etf in canada, although thisis no longer taboo, the us is still dragging theirfeet now the key takeaways are this: the sec hasdelayed its decision on two separates bitcoinspot etfs by 45 days.
The spot etf proposals, camefrom very well respected, bitwise and grayscaleand – were supposed to be decided upon by tomorrowand thursday respectively. The move should not comeas a surprise to those who have kept up withthe sec’s moves so why they continue to delaythis is anybody’s game, whereas anybody’s guess butthis does not project confidence into the marketstuff like this is very unfortunate. It’S a realitybut. This does not project confidence in the marketgrim finance hacked for 30 million in phantomtokens grim finance is the latest d5 protocolto be hit by an exploit. Senator elizabeth warrenrecently came out, and you know just talking abouthow bad defy.
Is this keeps the sentiment andprice down even more so? This is why it would notsurprise me if we continue to stay down low, andconsolidate or even have an even greater shakeoutyet, i’m still extremely long-termbullish. So i guess my question to you: isbesides price. Besides price going up because pricejust can’t go up forever, how do you measure thesuccess of an altcoin project and there’s a lot ofgood answers on this thread? Make sure you followus on twitter i’ll link it below partnershipsdevelopment number of users use case, on-rampinggood tech, good tokenomics popularity, low feessomething to offer nfts games staking permanenceresilience adoption.
All of these are reallygood things, and i would say that is how youdetermine the success of an old coin project it’snot, really based on price. Are they continuing tobuild? Are they continuing to implement andunderstand this? There are plenty of qualityprojects now that are doing just that for instanceyou know about this. Parachains now live on polkadot.
Yet the mainstream media is silent, they’lltalk about the fud, but they won’t talk. Aboutthe real adoption, the real building that we’reseeing and before we get into some major newslet me just say this. I think anybody who has beenin cryptocurrency for at least two years is stillultra long-term bullish. I think it’s impossiblenot to see the progress and the cultural shiftthat is happening that has happened well, how aboutone year, maybe but definitely two plus years, inmy opinion it’s impossible, not to see it so withthat being said, let’s talk about the interestingprojects that are building and implementingand Upgrading uniswap v3 contracts, deploymenton polygon, approved with 99.3 percent consensusso unit swap, is on ethereum.
They are deploying topolygon based on the voting with theirgovernance token unit swap community has approvedthe governance proposal that sought deploymentof uniswap v3 contracts over the polygon. Proofof stake eth layer 2 chain. The approval comesin the form of an on-chain vote that saw theparticipation of over 72.6 million users from thecommunity now, along with deploying v3 to polygonyou, know swap labs has announced they will supportthis transition with a 20 million dollar fund15 million for long-term liquidity mining campaignand 5 million. For the overall adoption of uniswapon polygon matic, so uniswap labs unit swapis, just one of many of the very well-fundedprojects that have money to deploy and have moneyto keep going out with the old in with the newyou either adapt or you get left behind now.
Inour video from a few days ago, we talked abouthow justin sun. The ceo of tron was leaving tronand. I gave that as an example about how just thecultural shift in crypto is changing. Justin’S sonthe poster boy in 2017 and 2018 for over hypedaltcoin projects and then in their video from theother day. I gave the example of the graph which isactually just one of many which are actually doingreal things in crypto.
So there’s that culturalshift and then there’s cultural shifts. Like thisyou, either adapt or you get left behind, yes, radioshack has pivoted to defy you’ve got questionsthey’ve got defy. The two men who bought radioshack in 2020 are turning it into a crypto playattention crypto holders attention crypto tradersdo, you invest in crypto. Do you trade, crypto ifyes? I have a major opportunity that i need toclue you into most people in crypto.
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If you did, and this isn’t just windowdressing, i mean visit their site radioshack.comthey’re pretty serious about this visit. Theirfrequently asked questions, they break it. Downwhy radioshack d5. I mean there seem to be fullyinto this now.
Whether this is successful or notwho knows, but they’re going full force with thisand. You know what, if they didn’t, radio shack wouldget left behind. When was the last time you wentto radio shack to get a little rc car back in 2005now, the first d5 that radio shackis going to do is basically going tobe, a decentralized exchange to buy, sell. Uhprovide liquidity earn a yield, it’s kind of liketheir own version of uniswap is going to be theirfirst foray into d5. That’S their first thing.
Butthey have a lot more plans, they’re doing thiswith, usv atlas and actually tai lopez. If youare familiar with him is one of the people, whobought radio, shack in 2020 and is doing thisso – take that, for you know what it is, i i’m curiousto hear your thoughts on this now, i’m not buyingthe radio shack token. If there is a specific radioshack token at this point, but this tells me thatyou know, the legacy system is realizing, thatthey have to adapt and the ones that do adaptwill be rewarded. Adidas. You know about this let’scontinue adidas, first ethereum nft drop sold outin seconds and netted 23 million and shootsto the top of the charts, and you got ta believethat different companies are seeing the successthat adidas is having and plenty of the othermainstream companies nike and they wantthat same Success, i mean the fact is: ifyou tweet about cryptocurrency you get moreengagement than if you tweet about other thingspeople.
People are highly incentivized to becomenft and crypto native and just start talkingabout it and implementing it, because radio shackwasn’t getting any engagement when they were justradio shack. Now they are everybody. I encourageyou try tweeting about cryptocurrency and seehow passionate. The community is and maybethat’s nfts for you. Maybe it’s bitcoin ethereumd5 whatever it is guys.
Yes, it is possible. Thatwe go a little lower. Yes, it is possible. Thatwe spend a long time consolidating near the lowsfor max payne. Yet, despite all this, i continue tobe long-term bullish and i am excited about 2022
If you agree with me, let me know in the commentssmash the like button: if you got value andwith, that being said, i will see you tomorrow.