The bad news is that the overall crypto market is continuing to fall. Weve seen that bitcoins price broke below 60 000 per coin and almost every single altcoin is in the red. The good news is that there are a lot of buying opportunities in the crypto market right now for coins that easily could 10x and also lawmakers just introduced. A bill to address this entire crypto tax provision issue that everyone was worried about just a couple of days ago with the infrastructure bill. This would solve all of the issues, so in todays video were going to go over both of these things and before we do. If you guys enjoy short form, concise, no bs content that doesnt waste either of our times well make sure to like the video and subscribe to the channel lets see if we get the video up to 3000 likes, as we close in on the 300 000 subscribers Anyways right now, the overall crypto market has taken a pretty big hit. We were one time at a three trillion dollar mark cap and weve come down substantially. Since then, bitcoins price is back below 60 thousand dollars per coin. Ethereum is hovering right. Around 4 000 per coin and most coins in the market are in the red. Yes, there are some here and there that are in the green, like algorithm, which is up percent decentraland of 12 um lrand up about three percent, but for the most part, were seeing a storm of red take place all across the market.

A lot of this was triggered because of two main things. The first reason why were seeing the market have all of this fear, and all of this read was because of joe biden in the infrastructure bill which recently passed, which caused um. This crypto tax provision to be in effect and a lot of people are scared of the long term. Implications of that – and the second thing that happened is that china came out and said that they were reiterating their ban on state owned um companies for cryptocurrency activities and like crypto mining in general, either way both of these things shouldnt have really had big impacts on The market, because we already knew that both of these things are happening. We already knew everything going on with china. Theres always fear, uncertainty and doubt coming out of china with regards to crypto, and we also already knew that this infrastructure bill was going to pass and we already knew the implications of this. So in reality, both of these things shouldnt have caused a big dip in the market, but they have and now were starting to see that theres a lot of fear in the market. So this has caused a little bit of a downward spiral causing many coins to drop. But the good news is that in terms of technicals in terms of whats going on the market, theres still a lot of positive news and technicals still look pretty great. So first thing with regards to the good news is that, right now we are seeing that in terms of tacticals, you can see this chart by alan ooh.

He came out and showed that in 2017 verse 2021. What happened in terms of the charts? Well, what we could see is that this thing called the z score. We broke back below the upward trending line in 2017 right around november 12th and now were doing the same thing right around november 17 and november 18th. But what we saw in 2017 is that we were able to push back higher above that and go into new all time record high. So, as long as we can see this z score and see a little bit of a correction and a push back higher in the market, well, then, we would still be right on track with 2017.. The second thing we need to do is look at what is going on with the us government, because the whole reason why we started to see the market fall was because of this crypto tax provision in the infrastructure bill that was recently signed into law. But the good news is that lawmakers just introduced within the last 24 hours a bipartisan bill to address the crypto tax reporting requirement – and this is great because in the original infrastructure build the one that has already been passed. Theres, a lot of controversy around how they define brokers and the problem with it is, is that, right now it includes crypto miners, crypto software developers and a number of other companies that dont necessarily have the right tools in place or even are capable of reporting.

This information to the government, so this has created a lot of issues, but with this new bill that was just introduced its going to solve this issue and ensure that software developers and some crypto miners are not going to fall under this term. Crypto brokers in the bill, so this would be key moving forward, going to help keep more innovation in america, help keep um all of these aspects in terms of crypto companies in america and help subside some of this fear going on in the market. So that is important. Last thing i want to go over is three altcoins in particular that have been doing really really well and, i think, are 100 going to explode as soon as we see the market bounce back. The first is obvious: its already starting to move, and that is is one of the only coins that has been doing really well over the last 48 hours, and that is because the la staples center just was officially. They signed a new partnership and now theyre going to be renamed as the arena. This is a 700 million dollar deal for 20 year naming rights, and the important thing here is that is going to be the first thing that anyone going to a lakers game. Anyone going to an la clippers game, anyone going or driving around that stadium is going to see, and that is going to be huge for marketing and advertising and just making people more aware of crypto and where to trade crypto.

So when you know well, then, when you see that sign, when you see this arena, youre going to think of – and this is going to help get more and more people to sign up for and use their exchange in the future. Second thing that happened: second coin is going to be with avalanche avalanche just recently, surged dramatically. Well, the rest of the market was falling broke through 100 per coin for the first time ever after a after the deloitte deal. The big news here is that avalanche, which is a competitor to ethereum, cardano and solana, just recently pushed through all time record highs, as they signed a pretty big deal with one of the big four accounting firms deloitte. They said that theyre partnering with deloitte to build more efficient disaster relief platforms using the avalanche blockchain, and this is a big deal, because why is deloitte? Why are these big companies picking avalanche over lets, say ethereum or cardano or solana or polka dot? Why do they pick avalanche, and the reason for this is first of all. Avalanche is a very efficient platform. It brands itself as being one of the fastest um layer, one solutions out there, and for that reason its, you know why weve invested in it for a while second thing with avalanche is that they also recently established a multi hundred million dollar fund around a 200 Million dollar fund to help with d5 um projects on their platform help push growth and help continue to promote the avalanche ecosystem.

So this is key. Not only are they investing in growing their ecosystem through this 200 million dollar fund, but also theyre signing big partnerships with some of the largest companies in the world like deloitte. The last thing i want to talk about last coin is going to be with kadena. Kadenas price has been doing very well as of recently breaking through new, all time record highs and as soon as we start to see, the market turn around, i think were going to continue to see. Can data push higher so kadena in terms of what they do? Its a very fast layer, one solution, recently its been gaining a lot of traction and their twitter followers have been growing very rapidly. Theyve grown more than 50 in terms of twitter followers, just in the last couple of days, um. The one thing that sets kadena apart is that they say they could process 480 000 transactions per second, and the other thing is that their team is, unlike any other team, we see in the crypto space. If we look at their team, they have people who founded kadena that were on high level executives at jpmorgan and chase. We see that they have people who worked at apple, microsoft, um, cardano and many other major companies around the world, so they have a team. Unlike anyone else – and they are a very, very fast layer, one solution why i think theyre going to continue to grow very rapidly is right.

Now theyre one of the only layer, one solutions outside the top 20. one of the big established ones outside the top 20. right now. Kadena is at that number 52 position with a 3.2 billion dollar market cap and i would be absolutely shocked if we dont see this reach a 20 billion dollar market cap when the market bounces back and when we see everything turn around so all these coins. I think are, must owns right now, theyve already done really well, but i dont see them slowing down anytime soon.