Top 2 Cryptos To Invest in NOW
A lot has been going on in the crypto markets over the past few weeks, especially within the past few days, with bitcoin dropping down below 60 000 with bitcoin, taking that tumble weve seen some other all coins in the space, also retreating from those previous all time Highs now in this, video lets talk about what this price drop means for crypto and why a bitcoin fell were also going to be discussing three all coins that im seeing huge opportunities in right now, even with the current state of the market and towards the end, You know what not towards the end towards the beginning lets talk about why i actually havent posted a video in the last two weeks. Dont know what this. What is this hand thing so, first of all, as you guys can tell im in a brand new studio right now, the move into my new apartment has happened and it happened really quick. So originally i was gon na move into another apartment to get out of my 800 square foot den that i was in for the past two years. Since then, i didnt realize how stressful the move was going to be and me setting up my camera getting back into the groove of things im, just really a simple creature of habit like i need to go to the gym. I need to film my videos in a certain angle in a certain place and when i was out of that groove and just changed my home, it just threw a lot of things off.
So you know about two weeks later were finally back on youtube. Finally, getting settled in it wasnt just a move that has taken up a lot of my time. I did recently invest into a restaurant. I am now a co owner of the first japanese barbecue restaurant in rockville maryland. If you guys happen to be in the dmv and would love to check that restaurant out ill have a link for that down below in the description as well, it is called guzo check it out. We got some great a5 wagyu and some other amazing dishes. On top of the restaurant investment, although i havent been making videos on youtube, ive been working on a ton of projects. On the back end, we actually have some special merch coming out soon, that ive been working really hard on with my partner and ive, actually been building up an amazing team so far for the back end of this youtube channel to continue growing the business. Now, although i havent been posting any videos on the public channel, i have been pretty active within our discord and our patreon group every week. I go live in there and we had one this morning as well. If you guys are interested in signing up and getting to know me just a little bit better and want access to a bit more exclusive content, as well as what my trades look like in my portfolio, dont forget to check out the link for that down below.
In the description as well so currently, the global crypto market cap is sitting at 2.61 trillion dollars now. This is a little bit away from the three trillion dollars. Weve seen happen before in the past. At the time recording this video were seeing bitcoin still at 59 989 with a lot more red in the market. Were gon na see this getting reflected within the crypto fear and greed index where, for a majority of the last few weeks, and even all of last month, weve seen extreme greed throughout the market. Now that this indicator is finally headed to the neutral level, this should be opening up a new buying opportunity for others. If you have been patiently adding and accumulating, and going long on your crypto portfolio since the beginning of this year and following along with our content, you would definitely be profitable. Even though were seeing this market volatility. Now i do need to mention, especially for our newer investors. This type of market volatility is completely normal to experience as soon as this turns neutral or even goes into fear, im telling you. This is the easiest way to get an idea of when you should be investing into the markets. Now, if you cant, handle the stress of the volatility from the crypto market, just make sure that youre not investing more money than youre comfortable losing for me regardless what happens? I know that the innovation of crypto is real, and i know that its here to stay.
This is why im always dollar cost averaging into my investments, and i will pour some more swing positions or stronger trades. Whenever i see more confidence in the market, like weve, had within the past few days, ill share with you guys a little bit towards the end of the video on what that is. But first i actually want to talk about why bitcoin went down and what we should expect to see. So one of the first reasons that the crypto market actually went down is because of the new infrastructure build that president joe biden went ahead and passed. So, according to times, they stayed here under a potential new law that has been considered by lawmakers. Companies that facilitate crypto trades would be required to report tax information about those trades to the irs, just as brokers of traditional investments like stocks do starting in the 2024 tax season. Now the good news is, they say the bill is generally investor friendly because it makes crypto tax compliance easier. For investors said head of tax strategy at cointracker, so with the tax provision going into the infrastructure bill, it is still a bit too early to get enough data on what exactly were gon na see happen with this bill. Now, regardless it looks like many people are taking their investments out of the market. With regards to this news being published only because people are afraid of additional tax events happening throughout many exchanges, if youve ever tried to buy a meme coin or a lower cap.
All coin: you know that youre gon na have to go through many different exchanges and many different steps in order to make that purchase happen as an example. If i would want to buy an nft, i would have to visit the nft site. The select the nft link, the wallet sign up for a wallet go to an exchange sign in buy the crypto, send the crypto to a wallet return to the nft site, and then i can finish purchasing it now, while some speculators are expecting the worst. Imagine if you were to get taxed on every single event that happened in addition to that, we got some news that the binding administration also wants new legislation to regulate stable coins. Now my stance on taxes is that yeah it does suck paying taxes. No one likes doing it, and arguably the tax system in the us especially, is pretty messed up, but i do also realize that anyone who is paying taxes means youve made gains in the market. If you did take any realization in losses on your account, you can do something called tax loss harvesting. There are rules in place where even people who were profitable in this market have realized if you do end up paying taxes youre still in the profit youre still in the green. Now. I really do hope that the irs is going to be tame in the cryptocurrency world, but i think just the fact that were seeing so many millionaires being made from the markets.
They want their piece of the pie and they want to take from the people. Its. Not usually surprising, weve seen the government do this time in and time out again, and it really seems like the people dont stand up and there isnt enough awareness about the current situation. Thats going on the government may get away with whatever they please. I think my responsibility as a creator is to make sure that you guys are aware of this and then, if you guys, are watching this video, you know have conversations about this and talk about how crypto, even though its decentralized and there are many great aspects – the Government may take it a step too far in trying to regulate this field. Now, aside from the tax reporting challenges, there was a little bit of word on some stable coin regulation that the binding administration is also working on as well. They state here the proposed legislation would effectively classify stable coin issuers as banks subjecting them to similar oversight aimed at protecting consumers. Now tether was one of the more controversial stable coins and for a while now weve actually been recommending other stable coins that have the backing. Behind them, one of them would be gusd otherwise known as geminis stablecoin and doing further research im a lot more confident in that before tether had actually settled with the government with regards to a lot of the holes that they had in their reporting data.
For now, i dont think stable coins are unstable at all. I think that they are still viable and they are well to use, but if you want to stay extra protected check out gemiini, i have a link for that down below in the description as well. In addition to their stable coin that you can use within their app on their website, here, you can get more information at the gusd or the gemiini usd is a one to one usd back stablecoin and its always convertible to exactly one dollars at gemini. They are also regulated by the new york department of financial services, and you can be protected for the fdic insurance up to 250 000 per user, while custodied with state street bank and trust. They also do mention that they are transparently audited. They have zero fees, its programmable money and its fast, and you can see many of the different d5 protocols. Applications and exchanges that they also work along with whats cool about gemiini usd is that they also have their smart contract security audit white paper, and you can actually see all of their individual audits shared publicly to the world. If you are concerned about the state of stable coins – and you do think, the market is getting hot and you do want a stable coin to park your money in without having to worry, i would recommend gemini usd at the moment now, aside from the infrastructure bill, The other reason why bitcoin took a fall was because china once again came out with some additional fud as well.
They state here the national development and reform commission spokesman, mein, wei, blasted bitcoin mining during a press conference tuesday in beijing. She said that activity consumes lots of energy and produces lots of carbon emissions. This individual said that the ndrc, the countrys top economic planner, will launch a full scale clampdown on cryptocurrency mining by focusing on commercial mining and the role of state owned businesses in the industry. She also said that crypto production trade produces prominent risks and blasted the industry as blind and disorderly as part of the new push. The ndrc would raise. Electricity prices for any institutions found to be abusing its access to subsidized power to participate in crypto mining authorities have traditionally offered schools, community, centers or other public welfare institutions lower prices for electricity. This is not the first time that beijing has pledged to crack down on crypto mining. As you guys know, this fudd comes out pretty routinely in the crypto world. Whenever bitcoin does well, china releases a statement talking about it. Weve seen it happen before uh. The last correction we experienced at the end of the summer – and it just seems like clockwork. Let me know how you guys feel about china reiterating once again for probably the 70th time that uh theyre not a fan of bitcoin. They dont like the mining for any of our new investors. China likes to do this because they want to control a lot of things and cryptocurrency means less control for them.
Now, with all that being said, we did have one additional catalyst for bitcoin at going down, and that is the fact that many new investors who were investing once they saw a little bit of a drop in bitcoin. They paper handed their trade, so youll notice, even on the 14 day, within a data mish that will begin to see as the price of bitcoin falling a lot of those long positions getting liquidated as well. Taking a look at the seven days, you can also get an idea of those long positions getting liquidated as well, while additional short positions are getting ramped up now. Even today we have been seeing some shorts getting loaded up, so it looks like people are hoping that bitcoin goes down even additional amounts im, seeing all around the board from different ta analysts that bitcoin could head in the 50 000 zone, but once it does, it Could be another straight shot back to a hundred thousand dollar bitcoin as its target price? Now, regardless of whatever happens in the market, let me tell you there is still opportunity and because we have so much money in the global crypto market right now we have to get an idea of where that money is flowing. So all across the board, in the crypto market, youll be noticing a lot of red going on. But if we scroll down youll actually see this one winner right here and that is avalanche. So this is a crypto that weve mentioned plenty of times before on our channel, at least within the past few months, and if you guys were able to act on it, it would have been a very profitable trade.
I also did mention this as a fire sale over in our discord and made alert for two days ago, and since then, when i bought in at under 90, it had made a quick bounce up compared to most of the other cryptos in the market. On top of avalanche, there was one more token that was on my watch list that i did not end up buying, but i was very bullish on and that is going to be sandbox. So only a handful of cryptos actually went up in price in the most recent days. How did i know that these were going to be my top picks, and how did i get an idea that these would actually do well. So, first of all, if we take a look at avalanche, we have to ask ourselves why in the world, has it been doing so well in the last three months it was starting at just around 36 and now at over a hundred dollars today. So if you didnt know, avalanche has also been known and titled as the ethereum killer, with ethereum still being a very viable cryptocurrency to have a position, and a lot of the downsides are associated with those gas fees which prevents a lot of people from taking up More d5 products or investing into other nft projects within ethereums network, when you have great projects like solana coming up and offering a solution faster, cheaper transaction feeds that work consistently.
It really makes you think why dont we use this even more when it comes to avalanche. That actually seems to be the case if we go on defy llama youll notice that even solana, its actually having a pullback in the amount of money locked into its layer one if we take a look into avalanche, youll notice, its actually had a pretty linear growth. So, instead of just even looking at this crypto price right here, take a look at some of the other projects listed within its network and see how much money is going into it. At the time, ave trader joe benky curve, blizz finance youll notice that even these other products within avalanche are doing very well and avalanche is continuing to make some newer all time highs within its tvl, knowing how much money is still getting locked up within avalanches ecosystem. You can get an idea based on even the market cap right now. That avalanche is still undervalued. Now, to put this into perspective on how much upside you could see if avalanche went ahead and one day in the future had even anything close to ethereums market cap, you could still see a 21x upside with this token here now. On top of that, the reason why avalanche has also done well is because they came out with a partnership with deloitte, so deloitte is actually one of the big four accounting firms, its pretty prominent, at least in my area in the dmv i went to school around Here – and it was a lot of peoples, goals and dreams to work for a big four accounting, firm deloitte is one of them and just seeing how they are now partnering up with ave, labs or even avalanches, different programs.
It gives us an incredible idea of how bullish this project is. This article here states deloitte leverages avalanche to improve recoveries from natural disasters and public health emergencies. In addition to that, avalanche developers and investors formed 200 million dollars in a blizzard investment fund and with this theyre actually reinvesting it back into their different projects. When a project like this is able to check off my three boxes of partnerships or utility with real world companies, they also have great investor backings, a strong roadmap and, in addition to that, have a lot of money going into solid projects within their ecosystem. It is one of the cryptocurrencies that in a market like this, you can still find doing well over time. So the next cryptocurrency that i wanted to talk about in this video was going to be sandbox. So i did a lot of research on different metaverse coins and that video is going to be coming out soon, but from what ive discovered, if youre, trying to control that risk to reward ratio, sandbox, i do believe, is still a very viable crypto. That has a lot more upside. I went ahead and played some of the top metaverse coins. Decentraland just felt very blocky. It just felt very 2000 z if that makes any sense as a word but sandbox it felt a lot better. I see a lot more upside. If you go through the partnerships, it is insane the extensive amount of celebrities and company backing that they have on their platform.
Sandbox has been outperforming most tokens up 14.3 in the last 24 hours, but get this theres still 1 billion dollars less than decentraland, and even just a fraction of axiomfinitys market cap. Now its arguable that axiomfinity and decentraland could be overvalued and sandbox is where its at. But i like to think the latter and assume that sandbox is still undervalued in its market cap and theres a lot more for it to do. Taking a look at this article, we can actually see that the nft gaming firm, the sandbox, went ahead and raised an additional 93 million dollars led by softbank, which shows how much more money theyre getting into their backing. On top of that, the sandbox metaverse alpha is set to launch at the end of november after four years in development. If you dont know what sandbox alpha is here is what they state. The sandbox alpha is an open multi week play to earn events starting on november 29th at 1 pm utc, in which players will have the opportunity to explore the sandbox metaverse for the first time, through 18 experiences created by the sandboxes team. The alpha pass is an nft ticket that will allow players to completely explore the 18 experiences and earn up to 1 000 sand and three exclusive nft awards. Now, through my experience within the game, the ability to create different nft arts and use it then monetize it on the marketplace is still phenomenal. So if we were to compare sandbox to the market cap of axiomfinity, you could actually see a double in your money.
So a 2.42x or a 9.19 sandbox. I personally dont think its out of the realm of possibility to see a 10 sandbox by the end of this year, especially if they are able to follow through with all their road maps without a hiccup money in crypto. Moves in cycles, so we saw meme coins, we saw shiba inu now were seeing the nft market actually blowing up right now. I would not sleep on any type of these metaverse tokens and, if youre trying to go for a long term upside or more potential in the near future with different revolutions and things going on in the market, do not sleep on cryptos like this now. For my third cryptocurrency big disclaimer, i do not have any positions in this token right here at all, but im gon na be sharing with you my thoughts on why i believe this is gon na, be another top pick as well. So, as i mentioned earlier, a lot of the money has been exiting out of meme coins. They havent been performing well and we havent been hearing too much in the market about them, either going into open seat over the last seven days. Even board apes are up, 380 percent mutant, apes are up 518 percent uh crypto punks are up 14. Money is going back into a lot of these projects right now and oftentimes. That means its people who have made their money from meme coins or other all coins and theyre flowing it back into those nfts.
If we go into the all time, charts for even board apes on open c youll notice that we are approaching very close, if not near the previous, all time highs of what we saw before back in august. This also plays into the part, because many celebrities are now owners in board a bop club, which has happened over the past few days, which include jimmy fallon, post, malone, steve curry, steve curry, shoot steph, curry and a dozen other high profile celebs as well. Now, like always, you guys make sure you do your own research with these projects and dont invest into it, just because a random guy on youtube is telling you he believes in so there are still many other great cryptocurrencies out on this market and right now we Are experiencing a bit of a pullback, which i see a lot more opportunity for you to enter those positions in my risk, tolerance is going to be very different from a lot of individuals as well, and i want you guys to all keep that in mind. Now. Thank you all so much again for watching todays episode, the secret code word at the end of todays. Video is going to be return, comment down below return down below if youre watching this video. All the way to the end, dont forget to check out the additional links down below in the description gemini coinbase. You can actually get an additional 10 as well using my link down below.
In addition to that, dont forget to check out surf shark, its a vpn that i work with you get four months for free and 84 off. If you use my link down below if youre investing into crypto – and you dont want any sneaky little joe schmoes creeping up on you on your internet, make sure you are protected, everyone should be using a vpn stay, secure its a great protection and great thing to Have and if you use my link, youll actually be getting an additional promotion and discount as well, if you guys still have not done so already dont forget to subscribe, so you can tell other people that youre subscribed to brian jung before he hit a million subs Dont forget to follow me over on twitter brianjungy and on instagram creditbrian watch out for scammers. There are a lot of people. Impersonating me across different platforms. Do not get scammed im, not gon na. Ask you to invest in a bitcoin mining rig or ask you to send me money. We got none of that. Make sure you guys check out the link down below stay safe out here and have a great day peace out its been so long.