Why Is Crypto Crashing!? (Watch before acting!!!)
I just want to talk to you about why crypto is crashing. Now we spoke about this on the channel just two days ago and i said to you guys that the market is getting too euphoric way way too quickly. Obviously, over the last week we have had a pullback in the market, and i was saying to you that i just think that this is getting too greedy again way too quickly. People are dumping, their money back into the market and that sort of thing. So normally, when we do see a drastic pullback in the price of bitcoin or the overall cryptocurrency market, we see a little relief rally. Then we see it come down, then we might see another one and then we see it come down. This is how it normally happens until we find a nice little level. Maybe this could be around the 60 to 62, 000 mark and thats, where we start to sideways accumulate for a little bit. This can last a couple of weeks a couple of days, maybe even a month or so, and then we can continue upwards now, in my opinion, my non financial advisor opinion. This is completely needed and healthy for the cryptocurrency market. Just before we go forward. If you dont know me already my names, connor and hey im, just a guy sitting in his car trying to bring you as fast updates as possible and im, not a financial advisor and its very early.
So i might get all of this wrong but, like i was saying the market, in my opinion, got too greedy too quickly, and now we are just in another little pullback before we blast off. I am not worried now. If you look at the market right now. Overall, my portfolio, i think its down 9 bitcoin – is around 61 000 ive been saying this in the videos before 57 and a half to maybe 58. That is the level im looking for. If we break that potentially short term bear trend bear market thats. Why im watching until then, im not so worried? 60 000? Is that nice level that we do want to hold thats a nice psychological level? The reason i use 57 to 58 is thats, where we hit resistance many times in the past, so thats. What im? Looking in the market, i do think that this is another healthy correction that we need now. People are getting too leveraged thats, another issue, so when the market gets too euphoric, people get over leveraged again and then, when there is manipulation in the market, which i totally believe there is, we cant pinpoint exactly who what where theyre doing it, but i think theres Manipulation in the market when they see too many leveraged longs, all they need to do is manipulate the price of bitcoin down a bit and they leverage all of those longs. This creates a cascading effect where the price of bitcoin continues to fall.
The longest get liquidated, people panic, sell their bitcoin. They then wait until bitcoin goes back up again a bit back to higher than where they sold. Then they buy it again and then the process rinses and repeats until its basically a little bit boring and then it goes up thats what happens in the world of crypto right. So as we speak right now, we have the market down. So if you missed the train, if you missed the boat on crypto, this could be the perfect time to start loading. Your bags now do keep that in mind. This is not financial advice, but dont go all in dont, sell the house, the car, the dog, all of that stuff and buy your favorite coins all in ladder into positions find coins that youve done a lot of research in ones that you were so bummed. You missed out on find them see that theyre down a bit, they could be down 10 15, 20, just on the day start to ladder in those buys now. One thing i do like to look for in the cryptocurrency market is when its at a hole down when we see like lets, say the top 10 top 20 top 30 coins all down. 5. 10. 15. You know that its an overall market correction – those are the corrections that i am not worried about. If we see one particular coin, thats down more than the others, go and research spend a couple of minutes looking into the coin or the project and see if anything fundamental has changed.
You know like the ceo left or there was a scam or a rug, pull or something see if anything fundamental has changed. If nothing fundamental has changed. This could be a perfect buying opportunity because the market is just reacting badly. The specific market to that specific coin. Right thats, my advice non financial to that sort of thing, but, second of all, if you are someone who is a long term holder like me, just chill right im not buying right now, i may look into buying a little bit more in a few hours down The line, but i have my bags fully fully loaded, i will be buying dips if we see extreme greed now the market is still quite greedy because we are still high. You know just three weeks ago, three weeks ago we were exactly where we are right now. So i am waiting for extreme greed, for when i start putting my money back into the market, i have about 20 to 25 in cash, so stable coins. Those are staked over on platforms like block fight earning me, a passive income. When we enter extreme greed, i will start to ladder my buys in but, like i said, if you are thinking that you missed the party, this could be a time to start jumping in so thats. Pretty much everything i wanted to say you missed the boat youre, a long term, holder or or you just wanted to find some sweet sweet dip buys.
So all of that said, dont panic. This is totally healthy for the market. In my opinion, chill out zoom out find some of those gems make the best of this situation. Dont get too. You know emotional about it. Remember if you are very emotional right now, in this moment, im down over 10 or around 10 in my whole portfolio. That is so so much money, not a brag, just like its scary right, its a lot of money. But if you have a long term mindset and you find coins that you actually believe in youre like hey, i dont mind because were here for the long run. A great example of this is cr o coin. That coin was trading sideways for ages. This is crypto.com coin right, their project. That coin was trading sideways for ages and over the last few days is absolutely pumped out of nowhere, because i had long term conviction in this. I didnt care back when it was five times cheaper right. I just thought: thats fine ill ladder, my buyers into it, and one day it will be worth something today, its worth something right, thats, basically, the moral of the little story i have here anyway. Hopefully you guys are provide. Hopefully, you guys enjoyed this quick morning, video, if you did do me a favor. Please smash that, like button hit the subscribe button, if you want to come over and join the patreon when you get alerted when i make trades, that would be awesome.