6.4 C
London
Tuesday, December 6, 2022

WHAT’S GOING TO HAPPEN NEXT FOR BITCOIN?

Welcome back to crypto zeros, i am George we’re all George. So did the fed or the fed minutes just kill. Bitcoin bitcoin fell down pretty hard down to 42 000. We’re hovering around 43. Thousands obviously not looking so good right now, and not only that the entire equities market fell down.

Tech stocks got hammered. So what is going on what was said exactly that was revealed in the fed minutes that wasn’t revealed before? Well, i’m going to discuss exactly what happened and i’m going to talk about whether or not the fed just killed bitcoin. So 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 so make sure you hit that notification bell and follow me on twitter, facebook, instagram and check out all the latest news article and guides at cryptozeros.com. Welcome. Welcome! Welcome guys!

Hopefully you guys are hanging in there. Uh fear is extremely high tonight we are now at 15 on the fear index haven’t seen this level for quite some time. The last time was around when uh actually uh actually around December. So actually not that far, i was thinking about you know back in may and June and July, but no actually we had this a couple times in a couple times December. Okay, so wasn’t that long ago, but of course we are still in extreme fear right now and due to bitcoin’s fall to 42 000.

Not too long ago. Now it’s 143 We had massive liquidations once again: people thought hell and there’s no way that bitcoin could fall anymore right well, uh, guess what uh it did and another 619 million dollars worth of long leveraged trades gone wiped out. So, unfortunately, a lot of people got wrecked, uh greedy longs got wrecked, okay and you could argue, even if you didn’t play leverage you got wrecked well, keep in mind if you don’t sell, you’re actually not losing, but before i get that all right. So what exactly happened? Okay, this morning i covered how there was two things that may be weighing on the market number one is the fed minutes number two, the new strain from france and there’s something else going on with kazakhstan, but still what really spooked the market brought it down?

A huge sell-off with the dao smp, and especially nasdaq nasdaq, was really horrific and all big tech companies got sold off and that’s because of the fed minutes and how wall street really really really overreacted to it or did they. So what came out of it that that that surprised, the market, the fed minutes – is just basically meeting notes. What was discussed during the december meeting, which we already know chairman powell, came out and said. Well, there’s a couple things he’s looking to do. Number one is uh tapering, meaning he’s gon na buy less bonds every single month and then number two is to rate to raise uh interest rates.

So that’s not a surprise, but i guess what is a surprise? What came out of this is this. They also are looking at reducing their balance sheet and i had to do some digging. What’S the implications to this, why is this such a big deal? Well, let’s take a look at a couple things.

First of all, how do we get here? Why is all this being implemented this year? Well, of course, i think you guys know the trillions, the trillions and trillions and trillions that was printed and the trillions and trillions and trillions and trillions and trillions that was bought by the fed. So take a look at this. The balance sheet of the federal reserve went from about a little bit under 4 trillion and you could see how it went down slightly and we’ll get to that in a little bit.

But it went from under 4 trillion to now over uh 8 trillion. Closing in at 9 trillion, so they finally decided that hey. This was a little bit too much too high. So we need to do something about it. So, during the meeting the minutes.

Basically, there was three things i was mentioned: tapering interest rate hike and reduction of the balance sheet, and this is what got really people scared and that’s why everything turned okay, so um? What does this mean exactly? What? What does it mean to reduce the balance sheet? Right, so this is the reason why uh market got spooked.

What what does it really mean? Well, this is what it means, the treasuries or the bonds or securities that the fed holds. Basically, they have maturity, dates right. All securities have maturity days, especially if you’re talking about u.s treasury bond or something like that.

One year, five year, 10 year, 30 years, there’s usually a maturity date. And if you wait until that maturity date, then you get the interest promise which is still very low. But still there is something and uh what’s been happening is when those securities mature they get replaced with another security, basically the same equivalent one – and you know you’re, just it just keeps rolling like that, and basically how they unwind or reduce their balance sheet is by Letting these expire not replacing them with another one. So this way over time, it starts gradually dropping off their balance sheet and it starts going down. The problem with this is that it tends to be slow and it looks like you know, fed chairman powell wants to make things faster because of how fast the balance sheet has been going up, and this is the real worry here.

Okay and i’m gon na get to the the gist of this why people are threatened by this? Well, this happened from 2017 to 2019, so i talked about how you can see how there’s a little dip. It’S surprising that it dipped at all. You would expect it just keeps going up forever, but no around 2017 is when they announced that hey. We want to reduce the balance sheet.

4. 4 trillion is already too high. We want to get it down to half that was their goal to get that down to about two point: something trillion so they’re like okay, let’s decrease our balance by doing exactly what i said, but unfortunately it was just too slow and it kept. They got down to about 3.7 and guess what happened?

Guess what happened? Uh covet happened right and that’s when things went really out of control. So not only was it too slow, but also it never fully uh completed because it was supposed to be ongoing until 2020 and beyond, but it didn’t happen. So it worked slightly. It was kind of like a drop in the bucket, and then things got wildly out of control right and why this is relevant, especially for bitcoin, okay, and you could say that this may be a direct reason or indirect reason, because of course we know, bitcoin’s top Was in 2017, the last cycle, what happened in 1819 and 20?

Well: bitcoin was stuck in cryptic winter, but that makes sense right because 2017 is a top for bitcoin and, of course, traditional four-year cycles. Like the previous one in 2013, you have a top and then three years of down years, and then you have one good year and you start over. But here’s the thing. If you look at what happened in 2018, 2019 2020, that happens to be the years when the reduction in balance sheet was happening, right and rates was climbing up as well. So some would argue that this is horrendous for bitcoin and could be horrendous for tech stocks.

That is why wall street started to sell off, because if interest rates starts going up, tapering starts happening reduction of balance sheets, which means that a lot of the bonds that the us treasury i mean the federal reserve holds – is just gon na be matured and done. It’S not gon na be renewed; it gets a lot of people antsy right. This is the reason why, for what we’re seeing right now so does this mean that essentially, the fed has just killed bitcoin right, that’s the ultimate question: did they really kill bitcoin? Here’S the thing: here’s the thing: okay, despite all this, despite all this – and you could say that maybe this is a direct cause right, but despite all this, i have good news for you guys do. I think bitcoin is killed number one.

No, i do not think bitcoin is killed because everything that i’ve been telling you guys about what i’m interested in in terms of holding investing long-term life changing wealth. You know that is still my goal, even though i achieved it. I want to achieve it some more and i want you guys to achieve it with me all right. So that’s number one number two is all the all the fundamentals of bitcoin and web 3.0 and d5 and ft the foundation that really spurred up in 2021.

Now that we’re 22 did not go away, did not go away, it’s still the future, and this will pass okay and that’s because this is a evolving and growing um. This is evolving and growing change. A fundamental change in society. Okay, i’m just going to go there. I’M just gon na go there, okay, starting with money.

So all right, let me show you some of the good stuff that i’m talking about right. First of all, let’s just put into context right now where we are even though bitcoin has come down right. I know 43 000 to put into context. Is this lower than our previous lows in 2021? Let’S just start out with that.

No, we had two lower lows. We had one that ended at about 39 000, so we’re not there yet, and we had one that went to 28 000 So number one we’re not any lower than the lows from 2021, not even lower than the previous low of this. So that’s number one number two is despite the fact: we’ve had a sell-off right and many people are thinking that i lost all my gains and stuff. This is the reason why i’ve been doing this portfolio with you guys: okay, the one that i built late june of 2021. I didn’t build this five years ago or three years ago.

I built this approximately six months ago and even though it’s down from its all-time high guess what it’s still up around 58 so that all the gains just wipe out and disappear into nothing. The answer is no. All i did was buy and hold and dca 100 bucks every single week. I did it in front of you guys. I have not touched it not made any trades and, despite the fact that it seems like all, is lost and bitcoin is dead.

Well, the portfolio is still up 60 percent, okay, so putting things into context, so it first of all is not as bad as this seem um but, of course, the fundamentals. What i really believe in hasn’t changed, for example, for example, let’s take a look at this. The miners that i’ve been talking about the ones that are supporting bitcoin network. This is a representation of how much bitcoins it hold, and the percentage is how much they’ve grown since last year just one year ago, and you could see that the number of bitcoins they hold is in hundreds of millions. There is no dip whatsoever and everyone is double or triple in terms of their holdings.

Miners are not selling miners are not selling at this point. They continue to mine, they continue to hold and they even borrowing against the bitcoin and they’re putting bitcoin in a balance sheet. Okay, so bitcoin at least bitcoin’s network right now is very safe. The miners are not thinking about selling at all and there’s more. What about what i’ve been talking about in terms of total number of bitcoin, honest on exchanges and a liquid supply?

I know this one is a little bit harder to read, but the red line, measures supply outside exchanges, basically liquid supply and then a purple line is representing the supply and exchanges, and you could see they’re going in opposite direction. Despite the fact that bitcoin’s price has been coming down, they continue to go in opposite directions and a liquid supply goes up and the supply goes down. Okay, when it comes to bitcoin’s price, it’s just supply and demand, and right now demand is still dropping. I mean supply is still dropping, not demand and demand is still going up, despite what we’re seeing right now. So this also very good now there’s other things that i could mention uh.

For example, if you’re like a ta guy right, many ta analysts expected that this was to happen, that it had nothing to do with fed right and i’ll. Show you because many i’ve just drawn out some lines here. Many look at what’s happening right now versus what happened. Well, when bitcoin fell down at 30 000 And what happened there? You could see that bitcoin fell down to about 29 28 000 and it had a hard time coming up, but it kept hitting right basically finding that floor, and it really had this really kind of like a a double bottom moment, where you first had that initial Dip right just like our original dip down to 42 and that happened early december, then you had you know some some volatility up and down, and you can see since december.

We kind of had that on the smaller scale. And finally, we had that one final drop back to 29 at that point and then we start rallying like crazy. So if you’re like a ta guy, a lot of people has been looking at this 42 mark and we finally did hit it. So we had that original drop and then now we’ve hit it and looks like the support, and if this is mimicking, what happened before well then, of course, we’re gon na have that tremendous bounce up and if you look at if you’re an indicator guy you’re looking At oversold levels, everything is an oversold level right now, if you look at any time frame, i’m looking at the one you know the daily our size, oversold four hours, oversold one hour’s oversold 15 minutes oversold like every single time frame, is also indicating oversold condition. So that’s ta and, of course, if you look at a bigger picture like a if you look at previous cycles, tech dev is really good at looking fractal patterns and comparing the previous cycles right.

We have not formed a top, yet we haven’t hit the same points like before using ta using in this case fibonacci levels right so from a ta perspective. This is actually still normal still in range and in fact some would argue that this is actually what’s needed before we could have the next run up two other things. I want to show you guys. Okay, number one is: you still have big businesses like ni nydig? That is getting massive funding because of growing adoption for bitcoin.

If you don’t believe that bitcoin is growing, then you should believe this. Why would vcs and other investors put a billion dollars into nydig, which is considered one of the biggest bitcoin brokers on the planet? Earth? Okay, think about that – and this was just two weeks ago right so again – adoption is growing fundamentals growing and, lastly, about this point about did bitcoin just die. Well, i could tell you that bitcoin has been declared dead 440 times the bitcoin die.

No, i’ve read this list once to you guys going all the way back to when bitcoin was just a few dollars. Actually, if you go back to this one, only 23 cents, 23 cents a few dollars a few hundred dollars to few thousand dollars and it keeps going on and on and on – and there are 440 cases of bitcoin’s death, but guess what they were all wrong. Every single one so do i feel like the fed, killed bitcoin. The answer is no no, and no and no right bitcoin’s not dead, it’s down, but it’s not down and out right and, like i said, relatively speaking, comparatively to previous lows of 2021, we did not break through any of them, so we’re still still higher. Now.

Last thing i want to talk about is bitcoin dominance, because i think this is also important, and this is the reason why i made my video this morning about paying attention to l1s and uh network protocols and all coins in general. If this correction happened in 2018, 2019, 2020 and bitcoin is down about, six percent, ethereum will be down about 20 percent and all these other winners, solana and cardano and tara and polkadot and avalanche, they will be down 20 to 30 percent. Had this happened in 2018, 2019 or 2020, but it is not those years it is now 2022 and l ones and tbl continues, continues to hold extremely strong. So my point is look at bitcoin dominance with today’s drop bitcoin is still below 40. So that means everything else is still holding relatively speaking compared to bitcoin.

You don’t have true panic when you have true panic, that’s when everyone dumps all their tvl dumps everything it goes back to bitcoin or stable coins, but that is not what’s happening right now. It’S not right and i can show you d5 llama, which gives you the total value locked of all the chains. Well, take a look. I mean it doesn’t even look like it dipped at all right, it’s still hovering near the top. This is the reason why l ones and network protocols and d5 plays have been very, very strong right.

So again, i think that’s positive, because it does show you that truly people are not as panicking as you may think. Right and if you are – and you really are panicking – and you really think that everything’s gon na be over – and it’s not for you right, just keep in mind some of the biggest investors out there. Okay, though, what do they preach they preach when you buy, you want to buy when others are fearful, you want to buy when others are bleeding out when there’s blood on the street, even if it’s your own blood right, because that’s how you take advantage, you buy Low and you sell high, so one of the main reasons why i’ve been telling you guys to hold 20 25 30 of cash. Why do you think that is so? You could take advantage when things come down right and my plan was as we go.

Higher would break into new highs, keep taking off 10 off the top again. For the same reasons, if things come down, you could take advantage right so now, for those of you guys that don’t have extra cash, you want to buy the dip and you can’t well. This will be a valuable lesson to make sure that you have some cash on the side to be able to take advantage of dips. Okay, so just want to give you guys that, so in conclusion, what did i think and what am i gon na – do? Okay, i’m gon na end with this.

First of all, i don’t think bitcoin’s dead um. There could be a chance, i’m just gon na, say it based on history, so i’m not gon na. Just a hundred percent exclude this right based on history, because in 2017 and 2019 we had seen something similar not to this extent, but we have seen something similar. Of course we didn’t have the crazy printing and the crazy inflation rates like before, so the reduction before was not as accelerated as it is now right, but we did have a prolonged kind of down period for bitcoin right, prolonged down period for crypto. So i’m not gon na ignore that.

But again i just got done saying what i did right: the growing fundamentals, the strong strength of the l1, the tv on staking it’s all here. It wasn’t really available before right. So for me, i’m staying the game. I’M going! Dca and what i’m gon na do is get more involved with staking and staking rewards.

This is my video from last yesterday right yesterday night and i decided to experiment, and i think i’m gon na go hard on this one protocol. This one defy play because you know what, when there is turmoil, uncertainty and you just don’t want any of that and you just want to get rewarded for your crypto. Well, that’s what you do you stake. You find a d5 project or you find a project and you stake and it’s not something that i’ve really done before. I’Ve used blackfy i’ve used celsius and they’re decent interest right.

But it’s hard to ignore what i recently found and that’s the 20 from anchor 19 45 from anchor, which is built within tara’s ecosystem – and i know this has been popular. Many many people have been talking about this right and i finally dug in and experimented and it’s actually the system is just so easy to do so. The not the other thing. I’M going to start doing is doing more staking. Not only do i might go to the dca, i will continue to dca, but what i’m going to do is put a lot of my money into staking because it’s worry-free, whatever you put in especially a stable coin.

In this case it’s ust there’s no fluctuations. It doesn’t matter if the market goes up or down, it stays the same and then on anchor you’re getting about 19.5 apy. So, for example, you could see i deposited about 10 000 into it. Daily interest is nothing to brag about five dollars.

Week is 37 dollars month is 162 dollars, but then, when you look at a year, the expected interest is almost two thousand dollars from the ten thousand dollars. So think about that twenty percent is no joke. You put a hundred thousand in there. Your interest is now nineteen thousand five hundred dollars. You put a million dollars in here, you’re gon na collect 200 000 of interest and that’s more money than what most people make in a year right with their good job.

So if you think about it, it’s absolutely insane and it’s hard to ignore these kind of rewards. So antera is a one of the big caps. Anchor has been around tara. Usd is over 10 billion, so in terms of risk, i think it’s minimal compared to some of these rug pull projects which promises like crazy insanes right. So that’s the third thing i’m gon na do i’m gon na i’m gon na spend a lot more time staking because i feel like this is something i missed out on.

I’Ve never really done much of it in the past, but i will be doing a lot more of it going forward all right. There you go there you go. Hopefully you guys are a little bit calmer, a little bit. Cooler head. I guess and uh realize that bitcoin is not killed.

It may be down right now it will get back up all right. So there you go now. Let’S do some q a? I really should. I really should have busted out my uh blue label, but you know what i’ll settle for uh my favorite drink in the world strawberry white claw.

So there you go just kidding just kidding all right, so one says d5 kingdom is offering 500 apr. I see that to me is a big red flag. I i know d5 kingdoms is a big project, that’s on harmony, but anything that high. I i do not trust. I do not trust it at all, so um, all right.

I’M scrolling scrolling up here making sure i don’t miss any comments. Uh, let’s see here, hey you know. What i totally forgot today is wednesday. Today is dca day what a perfect day to dca uh justin says: amc gme the best hedge for crypto uh crashes. Those two got slaughtered slaughtered today.

No, actually, i was wrong. I thought i saw it crash, but no amc is actually in the green. Am i bad my bad? Maybe i was thinking about tesla gme. It’S actually up you’re.

Actually, right, i thought justin. I thought you were trolling but uh. Let’S see someone like tesla yeah wait. Is this right? No, i think this is aftermarket.

That’S why yeah this is aftermarket. Uh yeah tesla got slaughtered five percent today amc uh yeah, i knew it got slower see. No, i knew it was down 11 right, so basically meme stocks, not a good, a hedge against the fed tech stocks, not a good hedge against the fed and uh. You know what it’s just a overall, not a good day, not a good day. Um try!

Coo coin: for crypto i mean i’ve tried, but i don’t like kucoin setup. It’S very confusing. You know what using anchor you know. It is like as easy as pie as easy as pie, so here actually what you want to do is. I could tell you exactly what i what i did and it’s very easy.

So, first of all, you go to terra station and then you download their wallet. Okay, it’s a mobile, it’s a mobile wallet um and it’s a browser wallet, but i happen to use wallet. Browser wallet because it’s very, very simple right. What you want to do is transfer ust, so you could get that on dex’s. If you want to get on exchanges, you could get on kucoin.

You could get on gate, dot, io, okay, um, but i’ll. Tell you a warning that there’s a lot of congestion, so it took forever to transfer, but you guys could see. I have a hundred thousand dollars in here waiting to be staked right. So i plan on doing that right after the stream, but i already tested with ten thousand, but all you have to do after you get it into your wallet here. All you have to do is click this earn, and then you just tell it how much you want and then it just goes in and that’s it and it stays in your wallet and what’s br great about terra station is, if you use a ledger, you can Actually, uh just go straight from your ledger to terra station, so you don’t even have to actually use their wallet.

It integrates the ledger, so it adds that layer of security, if you wanted to, but after you put it in you know, that’s it it’s in here and then you don’t have to worry about it so like for in terms of complexity. This is about it’s not as easy as just doing it on exchange, but it’s it’s much easier compared to some of the other solutions out there. So just to show you guys, i plan on staking a lot more in the future. Um, let’s see uh, can you look at upbots today’s, probably not a good time to look at it. Um 10 000 people tune in.

I know a lot of you guys just wondering what’s going on. Hopefully, hopefully, if you tune in late, know that my answer is no bitcoin was not killed, but there is some concern and there was a lot. There was a lot, i guess said and uh in particular. I think most people are worried about reducing the balance sheet and what happened last time when it happened, but bitcoin is strong. Crypto is strong.

We will get through this. If you missed my whole spiel make sure you rewind tax advice for staking will be great. I mean you whatever you’re earning that’s taxable event. So there’s not nothing. You could do in terms of getting around taxes.

You just had to find proper deductions. Talk to uh talk to advisor talk to your talk to a cpa, uh nathan nathan. I know you’re trolling, but tonight i’m not gon na repeat what you said. I don’t think a lot of people will find it funny um. Did you see that evergrand forced to destroy 39 buildings?

No, i didn’t think about. I didn’t see that um i’ve been using coinbase for last two months about to hit 100 invested. What do you think i should upgrade to coin business if you’re, just at 100 bucks i mean coinbase is fine. Once you get into thousands or tens of thousands, then you should probably look at other exchanges, because coinbase has a ton of crypto on there right now, but the fees are a little bit higher, but the other exchanges like binance.us, you could look at gate.

Io coin. I, like kucoin a lot um but there’s several others that you could use too. But if you’re just at 100 bucks, i think you should just stay at coinbase. Um luke says crypto as a scam. Only benefits a rich well, obviously you’re new, and you don’t realize how many broke people, including myself, that made millions from crypto and they didn’t start rich.

All they had was some money and patience really when it comes down to crypto and making a ton of money in crypto is patience right. Of course you could, if you could dca dollar cost average over long haul or by the dips. That’S even better. So luke, you are a hundred percent wrong. Um, let’s see anything else.

What would i miss here, jay polar says, i’m broke increasing my net worth with crypto yeah crypto would do that to you crypto. Do that to you, um team, collins. Okay, thank you. What happens to ust once no luna is left to burn that? That’S an interesting question that that is something that luna team has to figure out.

In fact, that’s why they did their columbus 5 update because they realized that the burn rate was was just too aggressive. So they decided to like set a certain amount of ust to be minted and a certain amount of luna to be burned and they set on some kind of schedule. But i do think that if it becomes too aggressive right now, it’s almost a no-brainer and there’s statistics showing um. Basically, you know anchor and um and stake in anchor is the really driving force of why terra usd is so widely used and why it’s so minted and why luna has been going sky high. You know for the last year, but i think the team will figure it out, but right now it is very, very, very deflationary and it’s good for luna holders.

Oh yeah, i forgot dc thanks for a video always looking to look forward to your show, especially on days like today. What do you think about icp? I don’t i don’t know i don’t know we’ll ever live out to hype. There are some question marks. I think they’re, i think, they’re okay project.

I think they got they caught too much slack because they got pumped up way too much and they dumped on everyone. Okay, not the team did, but everyone else, investors and and a lot of people got dumped on but um i don’t know, i don’t know if i like them better than others. I actually don’t know a lot about them other than how they started and and that’s pretty much it but there’s a few things that was concerning. They have like some kind of id system, um not using wallets so or not using addresses. So there’s a little concern.

There and there’s other things, little concerns here there. So i don’t know, i don’t know, i’m not i’m just not a fan of icp um yeah today is dc8 day, and i show you guys a portfolio right. Despite the fact we did fall down right. I know still up about 60 percent right, but today is a prime day to be dcing prime day to bdca, and this is my portfolio. This is a sample portfolio that i built with you guys is not my own personal portfolio in case you guys think i only have eleven thousand dollars in my portfolio.

That is not true um, but i did build this on the fly with you guys, basically based on a lot of the l ones and, of course, bitcoin that i like right and you guys could see what i have uh in the last 24 hours. Let’S sort this the biggest losers constellation constellation has not been performing, neither has theta um, so i don’t know if i want to dc into them, but i do like a lot of things started. Moving recently, harmony has been moving. Cosmos finally has been moving right. There’S a lot that’s moving in here, our weave um was doing very good solana.

Obviously polygon and avalanche they’ve been doing very good. You know what i want to buy. Last last week i bought some cadena um. You know what i’m going dc into v chain. You know what i’m gon na split it between two i’m gon na put it in v chain 50 bucks in v chain and i’m gon na put 50 bucks into cosmos this v chain.

Finally, with their new stable coin, they’re getting some traction and i think they’re overall they’re just undersold anyway, so i mean oversold so, let’s add a little v chain, uh quantity. I got to do some math here. Let’S do 50 bucks divided by point zero. Eight one! Seven five: so that’s about six hundred and eleven all right!

So that’s 50 bucks and then i’m gon na add a little cosmos, because i do like cosmos and i like, where they’re going so 50 bucks divided by 36.84, it’s about 1.35, 7 There we go; okay, that’s what i added. So, let’s see how this goes. I’M gon na keep doing this.

I’M gon na keep going and keep going and keep going to prove my point that if you have patience and you buy the right projects and you simply dca over a long haul, you’re gon na come out a winner and you go build some true wealth and Possibly attain financial freedom. There you go um. Was it a decline caused by situation closet? No, no zero has nothing to do with. It.

Has a hundred percent to do with the fed minutes. Um now i shouldn’t say a hundred percent, but it was clear after it was released. Everything started coming down um. What about charlie three nah just go with chain link chain link actually has been coming up recently. There’S no there’s no oracle out there.

That does anything remotely close to chain link. You look at the number of chains, number transaction number of value process. It’S like chain link is up here and other people are so low. It doesn’t even register like charlie three okay, so if it comes to oracle’s just go with chain link, don’t even consider anyone else. The small dump is good.

It’S really good. It cleans the books. Well, there’s always liquidations, there’s always liquidations, so we had about 620 millions of longs liquidated. So that’s not good, but it does clear. The books, um and many people, especially in the ta world uh, thought that we had to hit 42 first because that’s the only way before we can truly come back up right kind of like this kind of like when we hit 30 000 over here.

If you look at right here versus here, it’s actually very similar on a smaller scale, not as big but on a smaller scale, very, very similar, okay and again, to put things in perspective in case you guys, are really really really panicking. We are not lower than our previous low back in september and we’re definitely not lower than our low back in july. Okay, so put things in perspective. There you go. Brian youngblood says really appreciate all your time.

Teaching us to stay calm, you’re second, to none here on youtube, i’m just teaching you guys what i had to go through okay. So this is what i wish someone did with me back when i got into crypto um. It’S just it’s just really a matter of having patience. It’S that’s really it um and most people in the space. Don’T because most people get into crypto for fast gains.

Fast gains right and i get it, everyone gets into the crypto pretty much for the same reason. But then you know you go through some some volatility. You go through a crypt of winter and you learn a thing or two right. Uh jose says just panic: bought bitcoin, ethereum, uh immutable accent condana. I think that’s a good lineup.

That’S a good line. Number right there angel for true said the world is falling apart. Is it falling apart or is the media making it seem like it’s falling? Apart? Do you know what the media does right?

The media only concentrates on bad stuff. If you watch media news, you watch any news. Okay, 99 is worrisome. You know why just like why i created a worrisome title for this video because people are drawn to it. That is why so did did.

Did the world really get much worse? It’S arguable, uh arguable. I should say: okay um. Yes, we still have a virus. We have many variants right, but the world is continuing on.

So i think the media is just making it worse or making it seem like it’s worse. I could be wrong on that, but i just don’t think the world is actually that bad, maybe i’m just maybe because i just spent 24 7 looking at crypto. Maybe that’s why i don’t know um uh step says best bear bear market is the best time to get in who does not wish they had operating to get in when it was dumping from a thousand to two hundred right. So, yes, that is true, but at the at those moments no one ever thinks that i’ve lived through. I don’t i don’t know how many dumps, when bitcoin dumped from ten thousand to three thousand i’ll tell you no one was trying to buy a three thousand.

No one was trying to buy a four thousand because they were fearful thinking that it was gon na go down to a thousand, because that was unbelievable at the time think about it. Bitcoin fell down 66 um in a matter of like a day. Okay, so think about that versus our seven percent. Now, just to put things in perspective now bitcoin went down 66 right now. I think very different, but i lived through that.

I lived through when um bitcoin went even lower to 3000 right. It hit 3800 march of 2020, it hit 3 000 in 2018 um end of 2018 So i’ve seen ethereum below a hundred dollars when it was at 83 dollars and people were panicking and they didn’t want to buy authority by 83. Look at where it is now right. I’Ve been through many times even last year, 2021 ethereum certain points in 2021 hit below 2 hundred. I remember that told you guys that looks like a pretty good buying opportunity right so had you picked up, had patience and just picked up and hold old you’re doing just fine right now, you’re doing just fine right.

So yes, money is made when you buy low, buy at the fearful times. That’S why so many famous investors say buy when others are fearful buy when there’s blood in the streets, possibly your own blood. If you believe in a project you believe in the future, and it’s growing adoption and growing awareness growing fundamentals. Well, then, you have no choice but just to continue forward right. You don’t want to give up your hard work and the path you’re on and your wealth.

You don’t want to give up on that and transfer to someone else right. You, don’t you don’t want to do it, you don’t want to do it all right. Uh. Last few questions about 200. 000.

Vet. Congratulations! Uh! I dzo! I don’t!

I honestly. I don’t even know who that is. I’M sorry, uh number one might be easy. Retail formal is dead, whales, miners institutions, movie markets, uh, no, yes, and no, but the way you’re saying it is in a negative connotation and i don’t believe that’s the case. These are minors are not playing with the market right now.

In fact, what they’re doing is basically just continue forward, continue: mining and holding, and mining and holding mining holding you say, no, there’s only less than 10 percent of bitcoin left to be mined and everyone is fighting for that everyone, and that is why reserves keeps dropping How stable, how will stable coins usdc be affected by bear market it? Won’T it won’t. That’S the whole point of stable coins. Tether will stay at one dollar. Uh usdc will stay at a dollar b, usd will stay at a dollar.

Tara, usd will stay at a dollar, every stable coin will stay at a dollar, doesn’t matter if bitcoin goes up and down the market goes up, but the the rate hike goes up. I mean it doesn’t matter. Stable coins stay at one dollar priscilla. I guess you haven’t been back for a while welcome back, welcome back usdd doubled market cap. Yes, yes, yes, because they’ve been audited so many times, they’ve been audited by every single regulatory body and every single time they come out just fine just because usdt went double.

Doesn’T mean that it didn’t double in in the number of people that wanted. You know usdt right. I know they had a shady history and i still think there may be something to it right. I still trust usdc a lot more than usdt, but tether has been audited by every single person out there i mean regulatory body and they all concluded that they have done nothing wrong um and they paid some fines and that’s it. So there you go there.

You go all right, guys, that’s pretty much it overall guys. I know we got some bad news from the minutes, but it seems to me that the market is overreacted because, whatever was said in the minutes was not any different than what powell said last month. Okay, he said exact same thing. The only difference is that there was mention about decreasing the balance sheet, but but according to many, that’s not even a for sure thing and that may come after a rate hike, because many people are interpreting that this will come soon. Really soon, maybe even next month and rate hike might come next month and everything comes next month.

No, that’s not the case. These things take time to put into motion right, so i do think that the market overreacted – but i guess we’ll see, i guess – we’ll – see right and there’s some correlation with uh reducing balance sheet to crypto winter. I know there’s some correlation with that, but the environment is just so different now and nothing about the fundamentals have changed. So i’m sticking with bitcoin and i’m sticking with crypto. I don’t believe it’s killed and i believe it’s going to continue forward.

But what i’m doing is going to be the same. I’M going to stay patient dca, but now something that’s different. Is i’m going to take advantage more of staking and staking rewards and just utilizing defy like so many of you guys out there and just earning rewards from it? Why not? Why not, especially if you have a large amount of crypto, especially waiting unstable coins?

Why not right all right guys thanks for tuning in smash the like subscribe to the channel, i will see you guys tomorrow. 11 30 a.m. Stay strong. My friends and uh gerald asks what stablecoin, when you move bdc to go with usdc usdc, i think they’re, a good one.

Alright, take care guys bye,

Related Articles

Stay Connected

22,878FansLike
3,597FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles