Crypto CRASHING! THIS IS WHAT'S HAPPENING!
This is not a video i expected to make. I actually have not been paying attention to the crypto market. The last few hours – and i got back – got a couple text messages wondering what the heck was happening right. So if you havent been paying attention, bitcoin fell from the mid 43, thousands where it seemed to have some nice support throughout the day and it fell down and bounced bounced off of 40 000.. We have ethereum under 3 000.. We have a lot of cryptocurrencies down 20 on the day and this is, after being down a significant amount uh, since we were at our highs just a week or two ago right. So bitcoin came down from 53 000.. We have to remember that now its down at 41.5. So what is happening? Well, honestly, there isnt a ton of news. Now there was something that i found, that kind of explains it a little bit and its. It goes back to a little bit of what ive been saying over the last day since my first video of today, i explained what i thought was gon na happen and well talk about it here, but if you guys dont mind hitting the like button, i really Do appreciate that im traveling over the next few days so, like i, i love making these videos, but also its something that if you do hit the like button or subscribe, it does help out the channel.
Because again, this is not like a planned video. I dont really have a lot of time, but i appreciate that, if you guys want, if you guys want to try out a new platform, you can check out blockfy underneath the video. I appreciate that too, because they are an affiliate. So what is happening? Well? We have all the fud, all the fear and fud doesnt have to necessarily be wrong right. It doesnt have to be wrong, but we have a lot of fear over the company over in china that has 300 billion dollars worth of debt. I talked about that this morning, and that is what caused the trigger or thats what triggered the sell off this morning, but we still have fallout from this now theres, something specifically that happened over the last hour that ill talk about here in a second due to That but in the video this morning i talked about how jpmorgan chase, which was actually putting out articles, saying that they thought ether was overvalued, so they thought it was worth fifteen hundred dollars after it was worth uh after. It is about 30 uh, 3, 000. Now so they said there was about 55 overvalued this morning. Now, in that article, that i pointed out this morning, i said you have to be careful when there is fear in the market. People are going to try to fud you out of your investments right now. Theres, a lot of fear theres, a lot of fear over whats going to happen, and people are going to try to drive down the prices, even if its something like jpmorgan chase and the reason i say that is two months ago.
They were talking about how this is a great industry that staking for ethereum is going to be a multi 10. You know tens of billions of dollars a year and theyre going to push it towards their wealthy clients. Theyre going to have them stake their ethereum. So, two months later later, they decide that it is overvalued after going through aip1559 and with ethereum 2.0 coming theyre, saying that it is severely overvalued right after they were saying that theyre going to push it to their clients, no theyre trying to push it down more. The same morning that theres a lot of fear, uncertainty and doubt so that their clients can buy in, of course, thats whats happening, and i send the video you have to be ready. You have to be ready for more of that, because there is fear whenever theres fear theres going to be more people that try to push down the price, because if you are a whale or your bank or youre, someone thats going to buy billions of dollars. One article can literally save you hundreds of millions of dollars in purchasing power right if youre going to buy a billion dollars and you can push ethereum down 300 from one article thats, an insane amount of value, its still largely unregulated, so theyre going to push that Down thats whats happening right now, right, theres, a lot of fear there. There are also people. There are whales that have cryptocurrency now that realize that theres fear, so they are going to cause liquidations theyre going to push the price down, theyre going to sell off theyre going to sell off and they are going to push down the price.
So that way, people get liquidated that way. People have fear uncertainty and doubt they get scared. They sell their investments, pushing it down further, or maybe they have stop losses set up and it pushes it further and further and thats why you get two thousand three thousand. Four thousand dollar swings in bitcoin within ten minutes thats. What happens right? Thats, not from one specific person deciding theyre gon na sell off 10 million dollars worth no, that is people getting liquidated. So that is what happens now. There were some. There was some information of about 360 million dollars worth of bic linking liquidated over the last hour. So that is most likely what caused such a dramatic drop, someone sold or a couple people sold and then that pushed on the price? Sorry, i just had to take care of something, but you see my point right. There are people that are going to manipulate the situation when there is fear in the market because they want that 10 dip its not like the stock market, where people can and regularly do get in trouble. For things like this right, you can push down prices of cryptos if youre a whale, and you can get away with it. Thats whats happening right now. So what can we do moving forward? Well, there are actually some good values in the market right now. Now, of course, right we could see more fear, uncertainty and doubt i dont see us going back down to 30 000 bitcoin.
I dont see that happening. Of course, we have seen a lot of green in the market, but with everything thats coming in with so many people thinking that were going to be bullish, the rest of the year, i dont see us returning to those levels. However, if you look at some of the altcoins right, theres still a lot of room to fall down, but you see some pretty good valuations right, youre, looking at v chain around under nine cents, you have other cryptocurrencies like avalanche and al goran that were just starting To pump, and then we saw a little bit of red in the market, we have some deals. We have cardanos in right above two dollars and i did a video earlier on cardano talking about some of the big things are coming very soon for cardano. That could potentially push it up, but you have to realize there could be more dips. So what am i doing? Well, i bought a little bit more today. If we see more red or we stay around the same level over the next few days, ill continue to nibble, but this is not load the boat area. For me, this is not where im going out and trying to figure out where i can pull money from this is where im putting a little bit in the market. I realize its gon na it could fall down further im, not trying to rush in and buy as much as possible, because, like weve seen before, there can be multiple layers of dip.
Now i realize that that is a risk that im taking by not going all in right now. I could definitely miss out on some gains. I could see us right back right back to where we were a few days ago, in a few days now, of course, theres probably going to be more coming out of china with this company that is defaulting on some other loans, thats, probably going to cause some More fallout im sure that theres more fear, uncertainty out and more articles that are going to come out talk about how bitcoins going to crash down to 25 000 again from the same banks and the some the same people. That said, it was going to go up to you know 50 000, a few days ago, so were definitely likely to see that just keep a level head right, dont start selling everything, because youre worried try to think about it from a logical perspective. Of course, that is easier said than done, but you have to come at it from a logical standpoint because otherwise youll make rest. This rest rash decisions, and then you will try to buy back in when its pumping back up, and that is the easiest way to lose money. Now, of course, do your own research im, not financial advisor all that good stuff. Thank you guys for checking out the links underneath the video to blockfy, and then i have some other links down there too.