Welcome back to cryptos ross, I am George, we’re all George, so we know bitcoins not looking too good right now it has dumped crypto market is looking weak. So what should we do about it? I’M gonna tell you exactly what my next move is all right. Let’s get started thanks for tuning in, as always smash up the like subscribe to the channel two streams, almost every day: 11 30 and 8 30 p.m.
Central standard time make sure you hit that notification bell and follow me on twitter, Facebook, Instagram and check out all the latest news. Article guides at kryptosarus.com. Welcome. Welcome!
Welcome those of you guys that thought i photoshopped this hat. I know i have one and is it my next move? Well, let’s get to it. First, let’s look at the market. Let me tell you: what’s going on with bitcoin and crypto overall, you could see.
Bitcoin is clinging on to 42 000 right now it fell as low as 40 500, which some people thought it needed to hit, but we have bounced up a little bit back up to 42 000. But overall today is not looking too good about a thousand points down versus yesterday. So what happened today? What happened this morning? Well, jobs report came out and it’s mixed mixed bags.
In fact, it wasn’t that good it wasn’t that bad either. It was really mixed. So this is one of the one of the big metrics that people were looking at, whether or not the economy is actually doing well or not, and here’s the thing: here’s the thing. In total, it was anticipated that there would be 400 000 jobs added, but instead there was only 200 000 jobs it. So on that front it looks bad, but unemployment also dropped below four percent, which is the first time in since november 2020 and that’s good.
So how is it possible that less jobs got added, but unemployment went down? It doesn’t make a whole lot of sense, so people are theorizing or concluding that you know there was. There was just not enough sales force out there. There was not enough people that were available and there’s also not enough jobs that was available so overall there could have been more, but there wasn’t – and you know that’s so it’s like neutral – it’s not good or bad, but it did scare off the tech. Hedge funds are still you know, they’re trying to prepare for what was announced.
You know rate hikes and reducing balance sheet from the fed you’re right. So you can see this morning all tech stocks tesla down again coinbase down nvidia down microstrategy down. So basically, these these wall street guys hedge funds, are preparing they’re, selling off they’re selling off pretty much all tech, anything tech related anything that is a little bit riskier in their opinion and getting ready. And next week we have a bigger thing: that’s coming out, um from an economic standpoint, cpi consumer price index, which measures inflation; that’s anticipated to go up even more right, so that’s coming out next week! So, whether or not the market’s trying to anticipate for that.
Some of that may be happening right now and we’ll see how bad it gets long term. My argument is this: inflation will help bitcoin, but what’s not helping bitcoin right now is the hedge funds and possibly vcs that are all trying to sell off their tech, and that is not helping and it’s adding a lot of pressure right now. All right. Let’S just call it what it is, they are definitely selling and what’s not helping right now is liquidations, which still is very high. You could see from about uh.
Two days ago you had about a billion dollars worth of bitcoins longs liquidated and the last few days you had couple hundred million. That was also liquidated just too much leverage going on right now. Right so, of course, that’s not helping the market, and i have unfortunately looking at according to on chang college. Actually, the leverage ratio is unfortunately still very high, in fact it’s very, very high, so there could be more liquidations and more cascading wreckage coming. If you know people don’t learn from their lessons, continue to play with leverage and they continue to wreck themselves and continue to to harm the whole ecosystem harm everyone else right, leverage just really sucks.
It really does. I wish all the exchanges just get rid of leverage so that that’s uh that should be collectively in 2022. All exchanges should look at and say you know what leverage is wrecking wrecking the economy. Even though we’re making our money from liquidations and fees, they should just really just like think about getting rid of it or making it very, very small uh, not their 25 50 100 x. Okay.
So there is still that going on. However, uh oh – and i just want to show this – this is also in terms of leverage since it’s high, is it more long or shorts? It’S about the same. It’S about middle right! Now, if you look at all the exchanges right, it’s about the middle, so uh kind of shows you, but there is a little bit more leaning to the short side right now.
You can see this update every five minutes, so there is a little bit more short pressure right now than long pressure, but with all this said, does that mean that bitcoin is dead? Does that mean that the crypto market is done? Does that mean that everyone should just sell off everything and go? You know apply at mcdonald’s? No, because i have some good stuff to show you guys.
So, let’s get to it number one number one there has been a lot of buying. You may be thinking that we’re you know only selling okay but on the contrary, there’s actually a ton of buying we’re just not noticing them right now, because uh, we do see a lot of sell-on exchanges, but on the otc market there’s actually a ton of buying. Let’S start out with the third biggest whale out there, the third largest address, with over five billion dollars, the bitcoin added close to a thousand bitcoins within the last day, and you could see that since december, he there was one point where he saw one bdc, which Didn’T make much sense, maybe he was just using it to play around with something but he’s been consistently adding and he has been more and more and more aggressive over the last few days. So he is buying one of the largest whales. Bitcoin whales, with five billion dollars continues to buy and not just him.
Here’S another one: a transfer out of coinbase of 2500 bitcoins equaling a hundred million dollars. This was definitely a purchase by some large entity. You don’t just have a hundred million dollars leave coinbase for no reason. So again, some big whale big boys are buying they’re buying and then take a look at this. The 33 largest bitcoin addresses, of course, the 33 largest whales for bitcoin increased increased by 3 000 btc.
So again you got the big boys. They are not panicking about what’s going on right now, and they continue to buy more and more and more and more and more and more – and this is all happening on the otc market so you’re like oh, what does it make sense if they’re all buying? Why is big one going now, because the price right now that’s reflected is on the exchanges and, unfortunately, when you have a lot of cell pressure, you got some whales and some manipulation going on right. They could drive things and make it look real ugly, but most of bitcoin is a liquid okay. Over 80 percent is a liquid, and some of that is the otc market.
So you have a lot of transactions going on overseas market and it’s not affecting the order books at all in exchanges and that’s what’s happening these whales and these large holders continue to buy more and more and more, and some of these may be companies and institutions. We just don’t know, but they continue to buy more and more and more, and this is why i tell you guys to stay in the game, because the big boys, the smart guys, are continuing to accumulate because they know our volatility. What we’re going through right now, we won’t get through it right, and this is all happening within just a matter of days, we’re having thousands and thousands of thousands of bitcoins being taken off and basically bought and held in some cold storage. Now so that’s what’s happening. That’S what’s happening, and also, and also bloomberg, just came out with their 2022 kind of prediction came out a lot of stuff, okay and they’re, saying that bitcoin in 2022 will continue upwards bitcoin will head to a hundred thousand dollars and ethereum will head to five thousand Dollars, so if you look at this report, it’s pretty long and here’s the thing.
This is their rationale. Okay, this is their rationale. If you read through this, basically they talk about inflation. They talk about how inflation will be will be uh, something that is very hard to solve. The federal reserve faces the greatest inflation in four decades and more inclined to raise rates if risk assets continue climbing right and then they they kind of go on and talk about all the things that helps bitcoin, but in their firm belief that bitcoin is still heading To a hundred thousand and ethereum’s go hit 5 thousand dollars this year.
There you go, and also just to throw a little bit more bullishness on here we have uh a new trader here that i’ve been following and working with, while he presented this chart. Looking at some of the support zones comparing right now versus when bitcoin hit 28 thousand dollars okay, so you could see that we have a resistance zone which obviously was at sixty four thousand and sixty nine thousand and recently formed a new support right right around forty Thousand dollars, we briefly touched it, but overall we’re still clinging on that. Forty two thousand mark right kind of like when bitcoin fell down at thirty thousand briefly. It touched about 28 000 a couple times, but overall it held at that 30 000 mark and it held there for many many many months until it broke out and continued forward, and that is exactly looking like what’s happening right now: okay, so short term, we could Be seeing bottom right now and we could be holding here for a little bit but just like before we will get through it. We will get through it.
Okay. This is why volatility is considered the price of admission for crypto for newcomers into the space that isn’t used to it does not like it not prepared for it doesn’t understand or they get flooded. Well, they tend to leave, and this happens every single time. We have any kind of correction – or in this case a major correction, but traders or holders that understand that volatility is always going to be a thing and they take advantage when things are low and they buy and hold all well, that’s how they make money. That’S how you truly make money with crypto right so right now we’re going through one of those periods telling guys to stay strong stay focused focus on the future right.
So to answer my question: no not my question my statement here. What what’s my next move right? My next move is this: i know that you guys already know what i’m going to say. No, it’s not going to be working at mcdonald’s, but i will continue on holding. I will continue on to dca right.
There are a lot of prime candidates. That is right for buying right now, there’s a lot of l ones. Just last night i had a pretty unique video presented, a pretty unique perspective in terms of the l1s that are held by vcs, and most of them are in some respect, but some are larger than others right. So i’m going to be contrary more on the ones. That’S held less by the vcs because i think they may follow the same footsteps as hedge funds, so they their free gravy train of getting endless loans at near zero interest is going away so they’re gon na start pinching their wallets more and they may decide to Sell off some of their winners, and there was so many winners in 2021 that they may be selling off some of their holdings right.
So i’m gon na be looking more into that, because i think that’s a really interesting thing that not a whole lot of people talk about right in terms of how much vc holds and whether or not they’ve you know they maybe plan on taking some profits at Some point they will right, so that is what i’m going to continue to do and something new that i really didn’t concentrate on before, but that i’m going to make a real effort in doing this here in 2022 is making sure that i utilize d5 there’s so Much to d5, you guys have heard me talk about defy endlessly. You may not understand what that means. You’Re, like george, i hear you talk about d5. What is that exactly right? You look at d5, it hardly went down only four percent total value.
Locked is still 234 billion. Why are so many people still locking in their value into d5 projects? You know why, because you’re earning a really good reward from it, you’re earning interest you’re getting staking, rewards back and some are substantial with more risk and some are with less risk, but still substantial. When you compare to anything else, so i am going to be utilizing. D5, a lot more in 2022, i plan on making a lot more videos, helping you guys get into d5 so that you are able to take advantage, and some of you guys do have a large amount of crypto that you’re holding you could stake them and get Rewards because you plan on holding anyways and a lot of you guys have stable coins that you could also utilize d5 with and make a tremendous amount of interest just by holding just by holding.
For example, i’ve talked about anchor. I talked about tara right. I said i was going to experiment and i did in a big way. So when i demonstrated i i deposited only ten thousand at a time had a hundred thousand sitting there right so just to show you guys i put in now a hundred and fifty seven thousand dollars right. It’S collecting 19.
5 interest for me: there’s no risk on ust because it’s a stable coin. It’S at one dollar, regardless of what happens with the market right. So i deposited and look at this. If you look at daily interest, not that impressive, i’m making 84 from this, but then you look at the week 600. That’S not bad!
You look at the month 2, 500 and you look at the year. 31. 000.
Just by leaving it there with zero risk, basically other than if anchor and tara collapses, that’s your real risk, but right now it does not look like they’re anywhere near that as they keep blowing up and tara usd keeps going higher right. So this shows you.
This is one example, one of the best uh and easiest forms of defy and that’s simply to stake within a project that you believe in and you love. This is, for example, using terra usd, but you could do so in polygon. You could do so with avalanche. You could do so with solana, you could do so with cardano, there’s just so many ways. You could use your crypto and earn interest and earn rewards, while you’re holding anyways right.
So that is my next move really to to utilize d5 more this year, because i think this is tremendous and the reason why l1s network protocols have been so strong and why tbl continues to stay high uh, even though there may be panic in the streets right. So there you go, that’s my next move, guys! That’S my next move. Unfortunately, maybe you guys wanted to see me at mcdonald’s next, but no that’s not going to be the case, although there’s nothing wrong with working at mcdonald’s and they are paying pretty high hourly wage right now, but outside of that, that’s pretty much it guys. That’S pretty much it.
Let’S do some q, a foreign, oh back, uh someone asked about if the thumbnail could be at ft. Hey. I can make that happen. I haven’t had another one come up uh. What else is there contest?
Look at the weak, plus uh blaming other strong hands patient. True ogs waiting for next all-time lie. Yes, it always happened, guys, okay, i’m trying to bring some humor and some you know some knowledge, okay, but ultimately uh. You have to do your own homework right. You have to do your own research and you have to know what you’re getting involved with too many retail players.
Retail investors average shows you know uh millennials, whoever comes in. They hear about a lot of people, making tremendous amount of money right and they hear about. Dogecoin millionaires, sheba millionaires and all these millionaires they jump in, they don’t realize what they’re getting involved with and when things like this happen, blame everyone, uh rage, quits and exit out to market right uh. Unfortunately, this got in because they just weren’t knowledgeable or they weren’t aware of, what’s really happening right, and they need to know that it’s really. It really comes down to patience and it’s really uh an investment.
It’S not a quick trade when you’re getting crypto. It’S not a quick trade to become a millionaire right. You could definitely become a millionaire, but it’s a matter of patience. The wealth is being transferred from the inpatient to the patient. That’S what’s happening and there’s always times like this, and i made mention many times in 2021.
We had this too and when we were hovering at 30, 000 and 28 000 things look much worse than now right, but we got through it and we continue forward and people are calling it a bear market, then, and – and you know what we still got past – It so we will get past this too. Just got to be patient uh louis new member welcome, uh gbdc is cremated and a huge discount to nap. You got ta realize gbc is at a discount, because now there’s option there’s different options for institutional investors. They can buy purpose, uh, bitcoin, etf and other etfs from canada right so gbdc is that’s why i think it’s weak, because it’s not truly like a etf and you can’t really uh you can’t. You can’t redeem it right now.
So people make a big deal about yeah, it’s a negative premium and you could redeem it for bitcoin. You can’t you can’t redeem it. It’S a trust that once bitcoin goes in, it never comes out until grayscale converts the etf and gets approval. Well, that’s always going to be the thing right, so uh, let’s see here i’ll, take a nothing burger, large fries and coke uh solana. Finally, dips alana did dip and pretty tremendously too, if you look at some of the other uh other l1s that have done pretty well in the last 90 days.
Solana, unfortunately, has did not, but they’re not too bad either compared to say someone like cardano cardano is just you know, has not really been moving, but some of these other ones. If you look at 90 days still way in the green yeah uh gm uh mentions about cryptozoros
Com, hey, you guys want to learn more about any kind of all coin. You really should go to cryptozoros.com all right. Basically, you know there’s a ton of articles.
I mean not only about breaking news news in general, nfts, okay, but also a lot about guides. How to use some of these stuff that i talk about? If you want to know how to use binance at us, you want to know how to use phantom or metamask or coinbase right a lot of guides and a lot of all coins. There’S a ton out there and, basically anything that’s popular and we’re always adding more and more and more and more right. So there’s just a lot there.
You want to know about harmony. You want to know about voyager. You want to know about axi polka dot. Uh! You know al goran sandbox, i mean literally anything flux, decentral land, even sheba condana.
I mean it goes on and on and on and on and on phantom r weep avalanche flow right. So if you guys want to learn more definitely check out cryptozoros.com been putting a lot of effort in growing this to become the biggest crypto publication out there, not only the biggest, but the best so check it out. If you haven’t yet um rich is saying this is a gift throwback in time. Yes, that is right does borrow against your crypto count towards leverage it doesn’t, but you’re still you’re, basically investing more than what you can afford to lose.
Leverage you know is, is uh. It’S really fast moving. You can get liquidated with borrowing, you could also get margin called and get liquidated right. It’S just a little bit slower, but it can happen. So it’s a little bit less risky, but still i don’t advise it unless you really really really know what you’re doing uh [ Music ] all right.
Some super chat about litecoin, don’t really understand: do you think the ada gang will make boss casts and xaves? I have no idea, i have no idea i’ve never heard of boss cats before uh. Do you think i? What do you think about iota? The latest update of sticky i think iota is moving finally catching up and modernizing themselves.
Yes, you could stake iota and you could get two tokens. You could get their new assembly chain and their other uh their other chain. I forgot what the name is, but they came out with two chains, one a test chain very much like kuzama, and then they have another evm compatible chain called assembly and it’s all in their wheelhouse, now right, they’re, all working together, um. So it does seem like they’re, very ambitious right now, trying to really modernize, but it’s going to take time to build out the ecosystem. Uh tony on crypto large super chat check out elephant when you get a chance, it’s up and coming stable coin platform on 205 apr fix apr.
That sounds very risky, and i think i looked at this before elephant money. Uh yeah, looking at this uh. No thanks! No thanks tony you’re, probably from the team, but looking at that token economics. No thanks, um dido says i use anchor today put my luna in there borrowed against it to get ust bought more luna, and then i could put an anchor again.
I mean yes, there’s many levels to what you can do. If you borrow money, you could also restake that so that your your your overall percentage or your margin gets bigger. I mean there’s just a lot of stuff. You could do with d5. That’S the beauty!
You could experiment and there’s no limits of what you can do, um. Basically, you can compound your interest and go grow. It tremendously right, but again with more interest and work more compounding there’s more risk, just like any other amm out there. That may give you 60. 70, 80.
100. 200 percent. There’S always going to be a risk, so just be careful, i think just getting just putting into anchor right now for 20 apy. I think that’s pretty easy to do and pretty stable, less risk, but there’s many other ways to make a lot more. Can you withdraw ust off anchor any time?
Yes daniel you? Can i tried that uh? What do you think about rose uh, they’re, a l1. You know i actually there’s a research paper done in patreon and you know there’s a a lot of new research papers, that’s being added every single day. I did not have a chance to read it, but i know they’re l1.
I’Ve looked at them before. I don’t know what their big advantage is versus other l. That’S what i look for when i see l1, because there’s so many out there and there’s so many that has already pumped they’re big caps, large caps or mid caps. But what makes the small caps different from them right? What’S their competitive advantage?
Can they catch up? That’S the key thing, and so far i don’t know what that is for for rose thoughts on buying bdc miners right now. I always think that it’s better to just buy bitcoin rather than buy bitcoin miners and wait seven months to get repaid, because in seven months you never know bitcoin could be much higher. But of course you could argue seven months. Bitcoin could be lower right, but still difficulty keeps adjusting keeps going higher.
The difficulty keeps going up, the profitability is going down. So i don’t think it’s a good. In my opinion, i don’t. I don’t like going to my bitcoin mining route, so saw wong, i’m not going to do that. I’M sorry.
Is there a place to submit projects and crypto dots for you to review? Not really. I have a. I have a good amount of people – that’s kind of scouring through, but if you want to send an email go ahead and if it’s good, i can send it to them. But you know what there’s there’s plenty there’s plenty out there we’re looking at already uh your thoughts on abe and what do you think about his future for the next two weeks?
Why why are you asking about the next two weeks? Don’T worry about the next two weeks: okay, overall ave is one of the d5 projects out there. That has done very well in 2021 right uh. They got a little bit weaker because there’s just a lot of options right now, there’s a ton of options and ave had some problem with scaling and they’ve. They moved over to multiple chains now, so that has helped them, but overall they’re a good project.
But you know asking about what’s gon na happen in two weeks that that is something that you should not be asking you should just ask, is it a go hold uh? Is seoul died due to vc holding uh holdings dumping? I don’t know we don’t know that if they do, we don’t know, we don’t know if any of these vcs are dumping, but it makes sense if the hedge funds are dumping, that some of the vcs might, and that could be the reason why salon is a Little bit weaker, but then again it’s i mean it’s in line with several other uh alts i mean, if you compare it to you, know: ethereum it’s moving about the same as ethereum and ethereum doesn’t have a lot of vcs. It has some, but not a lot. So could be, but there’s something to think about going forward.
Um. Let’S see second super chat, long time listener. Do you think insurance is necessary for staking uh? No, i would not. I don’t trust.
I need decentralized insurance place. I just don’t know if they could cover it. I just don’t trust it, so i don’t know and what do you put 1 million, maybe after a comfort level, i would think about it because i’ve talked about it. You put a million dollars on anchor. You put a million dollars here, you’re you’re collecting like 200 000 a year.
You could live off of that that’s more than what most people make right. So it’s it’s amazing, um! So but again, there’s risk level. There’S always risk level what, if something happens, ust or tara, there’s always a chance, but right now it seems pretty stable, they’ve been running for over a year. Many people are taking advantage of it.
So just really a comfort level and i would not suggest putting all your money in there either. I would say: spread it out right. There’S a lot of companies out there, a lot of companies out there. That gives you a pretty amazing interest. Like my partner block.
Fi is giving 9.5 with tether right, that’s not too shabby either, and then you know you could get nine on. You know usdc and busd. So there’s a lot of options out there. Um solana decks.
Please. First, us-based solana decks 100 million uh. They aim to eliminate. Everyone says that every new deck says they eliminate to their. Their aim is to eliminate rug, pulls whether or not that’s truly true.
I don’t know but um it’s good thanks for sharing step finance uh. I haven’t heard of them before yeah, i’m not gon na look at a one million market cap project. What’S up a radio shack having a text and a token call radio uh, you know tai lopez, some of you guys maintain no time lopez who uh who’s the guy. That’S all about knowledge with a whole stack of books in the garage with his lamborghini. Well, he he partnered up with someone else and they’ve been buying all these bankrupt companies and he bought radio shack and he’s trying to create turn them into a blockchain company.
It’S so obvious such a pure money grab, so i would stay far far far away from it. Unfortunately, they’re just utilizing the name, you know to get attention um. If i buy btc now margin trade long get liquid at loss. Can i count the loss as a capital loss on my taxes yeah for 2022, not for 2021
For 2021, you had to do it in 2021, which is why, toward the end of the year, there was a lot of people that are selling for tax loss harvesting. If you do it now, you have to wait until next year to do um, uh eight bit paul says thanks for positivity, not weeks or months but years.
Yes, yes, i mean when it it sucks. When things come down. I know that you know, and even for veterans it sucks right, even veterans – that’s been around for years. It sucks, i know that, but it has paid off. It has paid off for me has paid off for many many others.
That’S been following me for years now: okay, even not years, even just going back a year in 2020, you know bitcoin and everything else has gone up. So much and all it took was just having patience. We got through every single major uh disaster, every single fall. Every single fudd right we will get through it just like right now, you just have to be patient and stay strong and be in the game, pay attention to what’s really going on all the buying in the otc market, the fundamentals of countries and everyone else. You know that’s trying to get involved with bitcoin the growing adoption, the fintech companies all trying to get involved right, there’s just so much going on and web 3
0 and d5 is only getting started.
I mean, if you think, 234 billion is a lot wait until this turns to 2 trillion and then wait until that 2 trillion turns into 20 trillion. There’S so much money out there. This 234 billion means nothing nothing on the grand scheme of things versus all the money out there. This is nothing. This is like less than 0.
percent wait until this number hits 2 trillion 20 trillion, maybe one day 200 trillion and replaces centralized finance. Then then it’ll be exciting, more exciting, let’s just say all right, all right guys, that’s pretty much it overall guys. I know. I know it’s hard right now, but stay strong stay focused if you can take advantage right, that’s what i’m going to be doing, but i will be spending a lot more time with d5 going forward making sure i take advantage of all the sweet rewards. That’S available, especially for holders!
Why not? Why not right smash the like subscribe to the channel i’ll, see you guys tonight, 8 30 p.m. Central standard time all right! Take care!