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Tuesday, December 6, 2022

IS THIS A BEAR MARKET ?

Good morning, good people, how are you on this sunday morning here in chicago? It’S a ice, capade, hey um, if you’re new to the page, my name is larry jones: go ahead and hit the like subscribe and notification bell. It helps keep me out there. Let’S talk about uh crypto, you know bitcoin and sheba e new. You know a lot of people think we’re in a bear market.

I will start off by saying this: if we are in a bear market, i will take it uh crypto. I mean we know that it does. 30 40 swings like it’s nothing, that’s just a tuesday for crypto a lot of uh youtubers, including myself. You know we. We warned that if, if you’re not ready for these swings, then uh crypto’s, not for you but um.

I i i have a different take on these things, um, because right now for me, it’s just important that you’re in and not so much your your purchase price because of what’s gon na happen with cryptocurrency, especially the big dogs like bitcoin uh, believe it or not. I believe even shiba, inu and um. I made a video last night. Uh make sure you don’t fall for any spam since i’m talking about crypto they, these spammers, love uh. When i talk about crypto uh, i will never talk about a broker or whatsapp.

Never ask you to send crypto money anywhere. That’S all spam! All right, good people, uh, listen to this video i made last night and we’ll we’ll discuss it at the end. So a lot of you guys know that i bought a full bitcoin at 55. Now it wasn’t the high it had just come off of a high went down to 55 and it looked like we were about to go on a bull season right, a bull run should i say yeah uh with bitcoin and um.

It didn’t happen matter of fact. Just cooled off and it just started going down down down uh some people think we are already in a bear season, and i say now: i bought a bitcoin at 59, i’m sorry at 55 and as we could see here right now, bitcoin is at 41.9. So um i’m down a lot and um. I’M not uh in great fear like no one wants to lose money, but i’m not that concerned because in the grand scale of things i see bitcoin eventually hitting a million dollars per coin, whether it takes 10 12 15 years i see or nine years i see Bitcoin hitting a million dollars, and so you know no one knows what’s going on with crypto, because crypto is not following the same patterns that it has been in the past.

This is not uh crypto of uh, 2017 and 18.

Right so you see different correlations, so i went over this before i want to show you this uh guys this again. So we have. We have the dow s p and we got bitcoin here at the bottom. See here is color coded all right, so in the last month you can see what’s happening to these three.

I call them indicators. Okay, so you can clearly you can see uh the s p and the dow following the same trends right, but you see bitcoin right. It has its spikes and then it spikes, but then in the bigger moves with the s p and uh the dow, you see the bigger moves. It goes down, what happens to bitcoin. It goes down even more in the bigger moves.

They go up. What happens to bitcoin? It goes up even more, and then you have this capitulation and uh uh. You have this inflection point here and then they start to really come down what happens to bitcoin at the bottom. Here it comes all the way down all right, and so that’s what’s going on it is it.

You know: bitcoin used to uh have another correlation against the market. Now it’s going more with the market. I believe that that’s because of the adoption of bitcoin and cryptocurrencies uh with major banks, uh the you know the little regulation and the upcoming regulations that they’re having uh and it’s taking a different turn right now. If this is i’m gon na keep saying this now, if this is the bear market of crypto i’ll, take it if this is the bear market of crypto, now a lot of people think bitcoin is coming down to the low 30s okay. If bitcoin comes down to the low 30s, i am going to buy another bitcoin as a matter of fact.

If it comes down into the 30s, i’ll, probably buy a half a bitcoin and then if it drops down i’ll, buy another half of bitcoin, because i want to have a couple of bitcoin all right. Let’S look here, so this is bitcoin right. So i want to show you guys, shiba inu, so this is bitcoin all right now watch shiba inu over the last month. Let’S go to the month right. So this is the last month.

Let’S see here last five days, let’s look at the last five days and then we’ll go to the month. You see what’s happening with bitcoin and shiba inu, all right, let’s go to the last month. Everything is changing. Look at that remember a few months ago, shiba inu was operating polar opposite of bitcoin a couple of months ago. Now, as you can see, sheba enu is correlating with bitcoin, and so all of these cryptos and crypto in general are finding these patterns and they’re they’re.

Marrying if you look at most crypto right now, you’re going to see that it is following bitcoin and we have to pay attention to what’s going on and so shiba inu. I’M going to tell you guys this and you guys know i. I was one of the ones that told you the truth about she, but he knew when to get in and when to do profit. Taking though i took a lot of flack for that, as a matter of fact, let’s go out three months, then we’ll probably see yeah here’s when it was doing the polar opposite right, and so i was one of the guys that was showing you guys um, that There were there when you get plays like sheba e knew, and now you got saitama and all of that, i’m not personally into saitama and i’m not looking to get in saitama all right um for those of you that have it. I i hope that you do well with it it’s just not my cup of tea, but with uh shiba inu.

I literally see it now falling in line with bitcoin. It’S not doing the same thing, and so now we have to learn how to rechart it. And yes, it’s going down into the 20s and yes it it’s going to go down. I haven’t really charted it lately, because i’m not here’s. Why?

What i’m going to wait? Now that i see that crypto is falling in line with the dow and the other indexes, and s and p look at what happened on just the threat of higher interest rates right, so the feds are going to hit and i think they’re going to hit early With the interest rates, i don’t think they’re waiting till april, i think it may come in march and they may move it up to february when the feds hit us with the first interest rate eve interest rate height, even though they we all know it’s coming. Even though the market knows is coming, it’s gon na have a negative effect and it’s going to take things down even further: the entire stock market and it’s gon na take down the crypto market. That’S when i’m looking to buy more and so i’m gon na be patient. The only mistake i made of buying the bitcoin at 55.

You guys know i always wait for crypto to drop 30, but you know time trying to time the market, but hey i made a killing on crypto. I got everything else right, so i got this one wrong. So hey, you can’t win them all, but i am going to get some more bitcoin at a much lower price, so i’m going to bring my dollar cost average down and i’m suggesting that you guys look at this before you start buying any dips. We just want to get in at a good price right, and a bull market will follow just like the entire stock market. After a bear market, a bull market will follow.

So if we just buy everything at a low and hold a dollar cost average in then we’re going to come out champions at the end of all of this all right, good people. So my point is, if i think crypt bitcoin is going to be at a million dollars 10 to 12 years from now it doesn’t really matter yeah. I bought one bitcoin at uh 55, which means that i’m down, but i’m not sweating it because trying to time this when it just runs up you’re, not gon na catch it, and so i want you to think about this, like i’m gon na use myself, for Example, remember anything i say is not a suggestion for you to buy, hold or sell a stock or crypto, but you got to do your own due diligence if i bought bitcoin at 55 and for those of you that bought shiba e new, if you bought shiba E new at at you know, quad zero. 55. Then why?

Wouldn’T you buy it at a lower rate and see this is the mistake that a lot of beginners or unwise investors do so now? What happens? Is you buy it at a high because it was running up, but now that it’s low you’re more cautious, i don’t want to buy it because it may go down lower so when in doubt zoom out, do you think it’s going to be much bigger one? Two! Three four years from now, and if the answer is yes, then now is the time you should be actually thinking about buying now not buying everything right away, but dollar calls averaging in that’s my point of this entire video.

So i am if, if bitcoin goes down, you know into the 30s, i don’t care. If it’s 39, i may buy a quarter and then buy three more quarters as it goes down or up. But if i bought it at 55 – and i don’t buy it at 41 – it’s just it’s just not wise, okay, good people, we’re in this thing for the long haul and just think about the year 2025. Where do you think all of this will be? What do you think sheba eating will be, which i believe it’ll drop another zero?

What do you think bitcoin will be in all your other crypto plays now there are some more speculative now shiba inu is a speculative coin and i was truthful like a lot of them. Wasn’T telling you don’t chase that penny? Okay, we did proper profit taking. Okay, don’t become don’t pledge allegiance to any crypto or any stock. Never do that, or even brick and mortar, don’t fall in love with this stuff.

We’Re in this game to make money. We keep it real here. We’Ve made money on it. A lot of us like myself, we’re just playing with the house’s money, but we’re going to continue to make money on the long run. All right.

Good people – hey, i’m, going to um uh, deliver a check like i i said: um uh proceeds from my merch and we’re going to deliver a check today to a charity. Uh i’ll, be sharing some video and pictures with you guys, probably next week and um. We we got ta, we got ta keep our words. You know, god bless us to make this money. We need to keep our words.

What we’re gon na do with it. Alright, i love you guys have a blessed week, we’ll see you later live, love, laugh and learn.

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