We do have a pretty big dip today, down 10 to 20 on most cryptocurrencies, so im gon na go over this some huge news. That is causing fear in the markets and my expectations going forward as well. So before we get started, i do appreciate if you guys liked the video subscribe to the channel if you havent already and hit the bell to be notified for daily videos – Music – all right guys, so the crypto markets did take a pretty big hit today, down 10 To 20 across the board, the stock market also took a pretty good hit and we are going to talk about some news revolving around this and why theres increased fear in the markets in general. So the general sentiment was that bitcoin would take another leg down to around thirty eight to forty thousand dollar bitcoin, currently down uh eight point: five percent, nowhere close to forty thousand dollars yet aetherium holding above three thousand lots of all coins are down at twenty percent And more though, because they have had huge profits in the last couple weeks. So as we do have a correction in the markets, these do drop more because theres so much profit on the tables. People that did invest earlier on are willing to take uh profits off the table even down 20 on the 24 hour. So we do have to keep that in mind. When bitcoin is dropping uh, we tend to have the smaller all coins dropping much more and when we do have bitcoin on a general uptrend, then we do have the smaller all coins uh increasing faster than bitcoin as well.

So there is a lot of fear in the markets right now with a big dip like this. But if you guys do have a good entry and exit strategy, then you can take big dips like this as opportunity to continue dollar cost averaging and acquire more cryptocurrency at a major discount. So if you guys dont have a good entry and exit strategy um, i do recommend checking out the pinned video on my channel. This goes over my uh pretty in depth, uh entry and exit strategy. How i look uh two dollar cost average on the dips and how i take profits on the way up. I definitely recommend checking that out. I also have a cryptocurrency guides playlist. You can check out as well lots of great valuable information in there, alright guys so taking a look at bitcoin on the charts. We have been moving sideways here between forty four thousand dollars and fifty thousand dollars uh since august 10th. Here so a little over a month, so i do think thats normal and healthy, especially after the markets ran up so quickly when it did bottom on july 20th at 29 000. So going forward uh. The general sentiment is that we will retest 38 to 40 000 bitcoin here before continuing upwards to break previous all time highs of 64 000. So this is a scenario i think is very uh possible to play out, especially with how the economy is looking uh.

The stock market, a lot of fear in the markets in general right now, so of course, people are going to be dumping cryptocurrencies as well so um. It is good to understand uh the general sentiments of the market, understand greed and fear and then apply that to your entry and exit strategy and youll do much better in the crypto space in the long term. So anything can really happen in the short term. Its not guaranteed we uh keep dropping and retest that uh. We could get some huge breaking news tomorrow. That does send us back up to fifty thousand uh bitcoin. Anything is possible in the short term. We uh do have to keep that in mind. Looking at technical analysis and the news uh does help us make predictions, but its no guarantee anyone that is guaranteeing something is pretty much fooling themselves and everyone else as well. So just be careful who you listen to in the crypto space and always do your own research, so we also had the stock market dip today with some big news. The dow tumbles 900 points as wall street spheres turn to china, so the dow in the broader u.s uh stock market fell sharply monday as chinese real estate conglomerate. Evergrand debt crisis made american investors uneasy uh its shaping up to be the worst day since last october. For the s p and the dow so uh pretty bad day today for the stock market, i do think fear is spilling over into the crypto space and for the economy in general.

Right now, um and coronavirus cases are starting to pick up again and if we do compare that to last year, then uh coronavirus cases will likely be peaking in november and december uh for the holidays, so uh we could definitely be getting more lockdowns more stimulus packages. More business loans, a lot more printing in general – i do expect – is coming so with the crypto market dip today, uh this article is stating we could be forming a double top for ethereum eth price loses 12.5 percent amid evergrand contagion fears the patterns. Neckline support near two thousand dollars emerges as ethers downside target, so this could mean we could be testing as low as two thousand dollar ethereum if the markets continue to drop. So this is a bearish pattern uh, which was triggered uh with this double top. So a double top is the pattern develops after the price. Rallies strongly pulls back rises again toward the previous peak and corrects all over again all while standing atop the so called neckline support. Ultimately, the price falls below the neckline and target levels located as deep as the distance between the double tops peak and the neckline, so that could mean were headed towards a 2 000 ethereum. If the markets continue to drop, that is a thousand dollar drop, though i dont think thats very likely to happen unless bitcoin does test the 38 dollars its possible ethereum uh, briefly tests, two thousand dollars, so in my opinion, a lot of the crypto space looks very Similar to this, having uh this double top here, basically, the entire crypto space moves together, somewhat uh.

So we do get a huge rise in the markets which did peak in may and then a major market correction. Now uh the entire market peaking again recently, but some crypto is doing better than others. Obviously, ethereum has been doing better because of the london hard fork upgrade and just being bullish in general, so many nft sets and all coins launching in the last couple months. So, im still very bullish on ethereum for end of year, especially after the london hard fork, upgrade burning, ethereum tokens with every single transaction people continue using the ethereum blockchain, even with great alternatives out there like cardano and solana, because ethereum is just so much further developed. The third party platforms are easy to use and uh people are just familiar with them, so they continue using the ethereum network even with the high gas fees, and that will continue in the short term, especially with layer. Two solutions coming and multiple uh upgrades of ethereum. Two, all of this is designed to make the ethereum network more efficient and greatly reduced gas fees so going forward. I do think in the short term. Ethereum uh well have much better return on investment than bitcoin were now starting to see institutions by ethereum as well. Uh recently arc invest announcing theyre doing 40 in ethereum now and 60 in bitcoin. I do think more institutions will follow so uh lots of demand coming to ethereum and i do think uh its more bullish than bitcoin in the short term, and i dont think this double top signal.

Uh means anything for ethereum. I do think this will continue rising more than bitcoin in the short term if the crypto space continues in a general uptrend and we do see uh things moving upwards towards end of year. Still so we are getting some people predicting a stock market crash as well as a real estate market crash people are predicting a crypto market crash theres, always people predicting a market crash in every market. We do have to be aware of that, and we really have to do our own research and understand whats going on in general because generally when theres mass fear like this is when people actually pick up their best deals and they take that as opportunity to accumulate. But it is very hard to time the bottom, which is why i do recommend having that entry strategy, so this article stating heres why bitcoin might be safe from a global stock market crisis. In my opinion, if there is a stock market crash, the crypto space would crash, alongside of it just like it did in march of 2020, for the coronavirus, panic, so uh. This is also stating at the bottom here until bitcoin becomes fully entrenched in financial markets and accepted as collateral and deposits. The midterm systemic risk for the cryptocurrency is lower than the traditional market, so that is very true, but uh. We would still get a very bad crash alongside of it. It just wouldnt completely collapse in this scenario, but in the scenario wed also have much bigger things to worry about.

We would likely enter a great depression again as well, so i do think governments will do anything they can to prevent this from happening going forward. We do have big talks about this and uh the government raising uh the debt limit as well so uh with a major dip like this. There are going to be people taking this as opportunity and accumulating more cryptocurrency. We also got news of el salvador acting on bitcoin price dip and buying 150 bitcoin. So now we have a country acquiring bitcoin on every major dip, pretty crazy to see this alongside uh microstrategy, also continuing to buy up more and more bitcoin on every dip. So el salvador didnt miss the chance to buy the dip, as bitcoins price fell back to 45 000 after a bullish week. So even with a dip in the crypto markets, we still have some very bullish, bitcoin price predictions. This article, stating bitcoin heavy breakout fractals, suggests bitcoin price can hit 250 to 350 000 in 2021. That is a massive price increase from the current uh 44 000. So i really dont see that happening by end of 2021. We only have a few months left here and this would be a massive rally. Imagine uh some of the profits. Some all coins would be seeing. Bitcoin did rally over 250 000 by end of year. We would be seeing 10 to 20 x for a lot of top 100 all coins even 50 to 100 x for a lot of the much smaller market cap, all coins, which is very possible.

But i do think uh if something like this plays out its going to happen in 2022. Like i have been saying, i really dont think by end of year is enough time at this point and i really think the bulk of mass adoption will be happening towards mid to end 2022. So the analogy appeared in anticipation that bitcoin could post a 2017 like bull run, in which the price rose by more than 1900 percent, so using that price uh, the percentage uh really doesnt, make sense here, because the market cap is much bigger. Things are much different at this point. I really dont think it would repeat, with the same exact percentages as weve uh seen with previous bull runs uh. The percentage does get smaller with each bull run here, so we can also look to the stock to flow model, which does show a minimum of a hundred forty thousand dollar bitcoin by end of year. So i am still pretty bullish by end of year. I think 100 000 is possible, but pushing over 150 000 is very unrealistic, in my opinion. So in the short term we have no idea whats going to happen, especially because other markets come into play here, like the stock market and real estate markets. If everything begins to crash, the crypto space obviously will crash as well at least temporarily, so im still very bullish in the long term. I always have been on dollar cost averaging and continuing to do this uh.

So i do recommend having a good entry and exit strategy if you guys have a good strategy and youre in this, for the long term, youre most likely going to be very successful five to ten years out so thats pretty much it for today. Uh last piece of news here before i do in the video something i thought was pretty interesting: satoshi nakamoto statue goes up in budapest, whoever he or she was bitcoin, creates value and especially the technology behind bitcoin of blockchain. It creates value so heres a picture of that statue. I think it looks pretty awesome. Theres also lots of people gathered here for the reveal of the statue. Uh quote here: satoshi nakamoto has created an independent money, free of any middlemen that empowered people with financial sovereignty. We have erected this statue to remind ourselves. Courage is virtue. We need to keep on dreaming big great quote there and i think a great way to end this video for today. So anyone out there thats panicking definitely look into an entry and exit strategy and uh be ready to execute on that. So you can be successful in the long term. Like i said, i do have a lot of videos on my channel. You can check out. There is a link in the top right of this video that goes to my crypto guides. Playlist. If you want to check that out, i do recommend sending that to anyone in the space that you know thats newer, that can definitely use some extra education, so thats it for todays video.

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