Should you buy the dip now? Should you be putting more money into the overall crypto market now? Is it going to go down even more in the next couple of days? Should you wait all that kind of stuff were going to talk about and im going to back this conversation up with some very interesting news related to whats, going on in the market as well as whats going to be happening tomorrow, wednesday, thursday, friday, okay? And so i want to kind of give you a baseline, a foundation for maybe looking at when you might look to do some shopping on some. You know some of your favorite cryptos to pick them up at a discount. You kind of, should you buy the dip? Now, or should you maybe wait a day or two were gon na talk about that so thats of interest stick around, as always is my goal to help you be entertained, but also to help you kind of navigate these waters and right now these waters, these crypto Waters are a little bit murky, to say the least, and there is blood in the water. I would definitely say so. This video is for entertainment purposes, only okay, so what i want to do is i want to set the stage all right by the way. This is not going to be a very long, video, probably about four or five minutes. I like to keep my videos short and get in get out okay, so i want to set the stage for what this is about.

Okay, so if you dont already know the reason, the stock market and the crypto markets crashed yesterday, but specifically crypto markets crashed was that um there was that that theres, this company called china ever grande. They are the second largest real estate development group company in china and theyre about to default on their debt to their shareholders. Youre like okay. What what does that matter? Why does it matter to the bitcoin? Well, heres whats happening okay, so evergrande this china company every grande group, holds them almost two trillion dollars of debt from its shareholders. Its debt securities are due by the end of the week, so today is tuesday september 21, depending on when youre watching this video. While the cash or the companies to make the necessary payouts are low at this moment, so all that really means is that is that its most likely a situation that that the evergrande group is going to default officially on their debt by friday, okay, and so how That and what that really means is that we could continue to see or possibly maybe even see by friday, that the crypto market gets worse. Okay, so therein lies the reason for the video i was like. I need to do a video for you guys on this particular thing and oh by the way wrapped around this ever grande deal and youre like well again, why does it? Why does this ever grande thing? Why is it spilling over into the crypto market? Okay? Well, heres, the reason by the way, this article is an is a is an interview with mike novogratz, the ceo of galaxy digital crypto, hedge fund, very smart guy by the to say the least, so uh novogratz.

He believes that the reason why this china, evergrande 2 trillion dollar debt default situation is hitting crypto is the following reasons. So why its hit the price of bitcoin, ethereum and other crypto is that many investors believe that a lot of tethers usdt supply is backed by chinese companies and ever grande in particular there. It is okay, so thats number one. The reason for the crash yesterday was that the overall there was this feeling – or this thought or belief that hey tether is backed by basically theres a lot of theres a lot of chinese money for like a better way to say it in usd tether. Okay. So there was that, by the way, chinese crypto journalist, colin whoop, heard this article tweeted on monday that tether confirmed tether themselves, confirmed not holding any commercial paper issued by evergrande okay, so again set the stage right so now lets lets recap what we know in the Context of should you buy now, should you buy the dip now if youre thinking about buying is really where this is coming from? Are you thinking about buying now or maybe waiting until friday, so so lets lets set the stage lets talk about whats going on? Okay? Yesterday we dropped about 10 because of this china ever grande thing. Okay were down about 2 percent today, so weve come back, but weve got this thing hanging out there remember what did i say. I said that hey um, that ever grande has two trillion dollars of jet of debt from its shareholders and theyre, most likely gon na default officially by friday.

Okay, so it is entirely possible that we could continue to have some spillover and continue to roll down a little bit wednesday, thursday and maybe really even friday, because this is going to continue to be the narrative in the overall. You know um whats, going on with the stock market, the equity markets and ever the news and its creating a lot of fear distrust. You know um anxiety, all that kind of stuff it is. I personally believe that were gon na continue to head lower were going to continue to go down more so buying the dip now or buying the dip say by friday, or so like thats purely up to you personally, im not pulling any of my money out and Im not really doing any shopping right now because i think were going to go lower. I think, were going to go lower per this official. The official default on the debt from china evergrande is going to happen by friday, okay, so and oh by the way, the narrative between now and friday is going to be its all doom and gloom from the media from you know everything everybody covering this all thats Going on okay, so i think that thats going to how it be, how it kind of plays out its up to you whether you buy it now or buy it later, if youre looking at buying the dip and youre looking at, you know trying to pick up Some some deals, and things like that you might want to kind of continue to kind of roll and kind of wait a little bit and see how it is again.

Not investing advice. Do whats right for you im advising my patreon members uh. By the way, i have a patreon group links in the description below im advising my patreon members to kind of watch this situation as it unfolds wednesday, thursday friday ive been giving them advice the whole time um. So you can kind of get even more insider knowledge if you want to join my patreon links are in the description below its 20 bucks ill. Give you direct access to me. You get more austin in your life and who wouldnt want that. Of course, you guys know me im kidding um but dont. I dont take myself too seriously. Im put my point, for i give you portfolio guidance, ill. Take a look at your portfolio. Give you some help. Nudging. You know guide you in direct right direction. You can see my inner circle portfolio, you get to see everything im buying holding when i sell the moves im making right now, if any frankly, um related to kind of whats going on in this overall crypto kind of crash decline, market situation et cetera. Again, you can join a cancel at any time.