WAIT 1 MORE WEEK For Crypto!
I need to tell you about why you have to wait one week why you have to wait one week in cryptocurrency theres, so many big things happening right now that are happening behind the scenes and i dont think most people are seeing them so were going to Talk about the recent price movement, some big articles and some big news in the crypto markets today, and i think it will make you change your outlook on whats happening right now. Now i do want to thank unstoppable domains for being a partner of the channel more on them later. But if you guys dont mind hitting the like button and the subscribe button that definitely helps out the channel and we can move on after that, so hit that, like button hit, the subscribe button hit the bell notification. I appreciate that now lets look at it. Crypto fell down. Yesterday, bitcoin broke, forty thousand fell, underneath bounced back up. We had cardano well under two dollars. We had ethereum around twenty seven hundred dollars and all this is happening right in the worst month of the year. So historically, this is the worst month of the year for cryptocurrencies, and we have a lot of bearish news articles now coming out from the sec uh calling stable coins poker chips at the wild west, crypto casino, so, basically giving you access to play all the games. In crypto, history tells us that private forms of money dont last long, we have jp morgan chase, which i covered this a few days ago.
They said that ethereums worth only fifteen hundred and fifty dollars now just take a look at this real, quick, follow this timeline with me here, jp morgan chase analyst ethereum should be trading at one thousand dollars. This is back on may 11.. So this is not the one that i was talking about recently, where it says 1550. They say it should be trading at 1 000.. Then they come out a couple months later and they talk about how they are eyeing ethereum staking as a fastly growing industry that could be worth 40 billion dollars by 2025.. They flip their stancing ethereum could be great, a great source of passive income. Then they come out and say that theyre going to give access to all wealthy clients to crypto funds and now theyre, saying again on the same day that we saw a dip on monday, the initial dip theyre saying that we should only have a fifteen hundred and Fifty dollar ethereum its its so funny to take a look at all these them saying that it should be worth a thousand dollars, then coming out being bullish them saying it should be worth fifteen 1550 and then probably coming out and being bullish on it. We also have this statistic, which is the percentage of holders that held onto bitcoin, for certain amounts of time that contributed to the volume on monday. So 64 of the volume coming monday was in less than one hour time right, so people have bought it within the last hour.
Then one hour to 24 hours contributed another 24, then less than one week was 9.1 percent, meaning about 97 percent of people that contributed to that dip. On monday it was all new money, there was either whales, manipulating it down or it was people getting shaken out. Now this this is the worst month for crypto and thats. One of the reasons i say wait one week wait one week because after september we typically see a very bullish month. You can actually see that this is one of the best months for crypto its on the top three. The end of the year is usually a blow off top historically, so we have one red month, which is about negative 60 percent throughout time here and we are negative for the month, but but theres. So many big things coming, i mean the way i look at. It is kind of like an escalator. You can fight an escalator. These banks, the sec. You know different investors can fight an escalator for a short period of time right. You can have massive bursts of energy and fight it if youre going in the opposite direction, but with enough time you cant beat an escalator right if it is five miles long, which this is a 10 mile long escalator trying to fight against cryptocurrencies, because theres. So much momentum as an industry, long term theres, so much momentum that you can fight it. You can push it down short term, but its going to come, roaring back and theres no point in fighting it long term and thats.
Why we see certain companies like jp morgan, jump back and say that theyre not gon na fight it and that theyre gon na start offering it to their clients? We also have some more adoption news, so this contributes to that escalator, robin hood to launch cryptocurrency. While it says bitcoin becomes a larger part of the business, so they are going to allow certain clients, select clients to send, receive and move cryptocurrencies in and out of the app, which is something that a lot of people havent been able to do. You buy in robinhood and you have to sell on robinhood in the past, so this is only going to help mainstream adoption. If people can move their cryptos in and out start getting better interest rates. I use black five thats one of the companies. I use theres. A link underneath the video they pay up to seven and a half percent uh eight percent on some of their stable coins on some of their cryptocurrencies. So you can move it from robinhood over to that blockfi account. If you guys want you can set up a block by account so its ready, and then you can move it in the future, but that is going to be big for mainstream adoption. We also have just a ton more wallets over the last year. From about december 2020, to now we have about 13 million new wallets, so a lot of adoption, finance trust while add support for unstoppable domains.
Unstoppable domains is a partner of the channel, but you can see trustworth, which is, i think, really the most well known wallet. They are adding support, making it much easier, much much easier to send receive cryptos, so they are going to support the top 10 domains crypto.nft.wallet.com.bitcoin.and. So on and thats going to be huge, thats going to be huge because you can use something that makes sense to you. You dont have to put in a long wallet address, so this is just going to help mainstream adoption. If you could have sam.crypto thats so easy to send to as opposed to copying and pasting a long blockchain address. Maybe you accidentally hit m at the end and then your moneys gone your moneys gone if you type in the wrong address so ill link to this underneath the video, if you guys want to check out unstoppable domains, you can check out and get a domain underneath. The video i will put that as one of the top comments also so definitely check that out, because it is something that i have and i think its something thats going to be really big in the future. Some companies are going to have ethereum or bitcoin on their balance sheet that didnt have it before the reason i say this is visa and budweiser both bought nfts in the last couple months. They actually bought it within two days of each other, and you need ethereum to buy these nfts, so they had to buy ethereum and then they had to hold it for a little while and then buy these nfts im guessing they didnt buy just the right amount Of ethereum and im guessing, they probably wont, sell ethereum, so theyll probably just keep a little bit of ethereum around.
I would not be surprised if one or both these companies had a theorem on their balance sheet moving into the next quarter, and we will hear about that here in the next few months. Also, we have whales that have been buying pretty aggressively steadily increasing their buying. Since the end of june, so whales, people with 50 million or more are buying bitcoin right now we had someone just say too a commodity strategist predicts bitcoin etf could be next month could get the nod in the us next month the same person said that he Underestimated the amount of money coming from gold over to bitcoin and now hes saying that theres an etf coming. This is a bloomberg analyst. This is going to be huge if this happens. Hopefully it is actually a spot etf where they actually have to buy bitcoin to back it, because then it will actually take bitcoin off the market and push up the price, whether we get a spot back to etf or a futures etf, we wont know until it Happens, hopefully, its a spot backed, but we might get futures. I think there will be still some excitement over that, but its not great. Overall. We have to wait on that, but that is big news right. So what should you do? Well, there are some deals in crypto right now: some altcoins some different low caps, i think, have a lot of value, but bitcoin is just going to be safer right.
We have a lot of these different catalysts for bitcoin and i think you have to wait it out. I think you have to wait just a few more weeks im not saying that well see a massive pump. I am not selling anything, but let me know your thoughts on this down below. Let me know what youre most excited about, whether its a company buying crypto or whether it is an etf. Let me know in the comments below. Thank you guys so much again. Thank you to unstoppable domains for sponsoring part of the video and check them out underneath the video. I think it is important to get a 20 domain where you dont have to re register every single year and it can have an extension and you can plug in all your wallets its awesome. Thank you guys so much.