My friends crypto is crashing, is the thesis of bitcoins retracement and all season now out the window. I want to talk about it, talk about the different scenarios and what we can expect. Next, we have even michael saylor tweeting out mcdonalds memes. We have luna stable coin, getting d pad theres some problems there and a bunch of other uh liquidations and numbers. I want to share with you guys, but there is some bullish news, and that is instagram is about to integrate nfts with ethereum polygons solana and much more lets break it down. Music. Welcome back to the thinking, crypto podcast, your home for cryptocurrency, news and interviews. If you are new here, please hit that subscribe. Button, hit the thumbs up button and leave a comment below quick word from our sponsor, and that is, i trust capital which allows you to trade crypto within a retirement account essentially an ira. This gives you huge tax benefits and savings. I trust capital has a full platform with 25 plus cryptocurrencies 24 7 trading. They have a full mobile app, which is on ios and android um. They have top of the level security they use, coinbase custody, which a lot of institutions use and best of all its free to sign up. There are no monthly fees or subscription fees, or anything like that. If you use my link in the description, you can get a hundred dollar funding bonus so be sure to check out.

I trust capital go head on over there sign up for free and see if its for you well guys. I i dont want to look at the price list, but i have to because we got to talk about it right now: bitcoins at 30, 725 ethereum, just over 2200 bucks, uh bnb at 306 dollars, xrp at 49 cents, ouch solana at 64.95, cardano at 62 cents, Ouch guys it is bloody out there, theres blood on the streets, now ive been here since 2016.. Ive seen this and worse now. This is pretty bad um ill give you of my full candid statements and thoughts and what im planning to do right now. I am in a holding pattern: im not buying any dips im, not selling anything, because i am here long term. I did take some profits last year. I wish i took a bit more, but i did take some um and weve been. You know looking at bitcoins respective retracement. It was in this channel this range and it broke down from that guys. We are down in some uncharted territory. Here, uh we havent touched the lows from the last summers crash summer 2021, but hey bitcoin can certainly do it. Nothings off the table right now, i dont care. If anybody says this time is different or this cant happen, anything can happen its a matter of probabilities. How likely is it right so will bitcoin even retrace? I dont know guys um theres three scenarios here one.

This is the crash heading into the deep bear market um. It may not be as of a brutal bear market like it was in 2018 to 2019. I think um theres, you know more holders of bitcoin and crypto, and that includes institutions. So its not going to be as brutal, but there will be a bear market this right here. If you, if youre watching the charts rest, assured a bear markets coming but thats. Okay, that gives you an opportunity to buy the lows right. Weve talked about it over the years, it sucks when youre going through it in the emotions, but when you step away from the the emotions – and you look at this, this is when you want to be buying blood on the streets. Now i just said im in a holding pattern, but im just talking in in principle that in it, whether it be in stocks or real estate or whatever it is precious metals you want to buy when theres blood on the streets, thats, not financial advice, im, not Telling you to buy just talking about general investing principles. This is what has helped me make money in the crypto market. I bought in the bear markets when its bloody, when people are scared, when a lot of mainstream people are running the opposite way, im doing the opposite of them, so its be greedy when others are fearful and fearful when others are greedy right. So um once again scenario one.

This is us going to the deep bear market scenario: two bitcoin could still bounce up from some support levels. Maybe 30k and uh work its way up to the retracement, and this is what uh analysts like blockchain backer have been uh. You know kind of tracking and going through, but you know, theres no certainties or guarantees. These are all probabilities. Three um is that we are still hear me out now. We are still in a macro bull cycle, and this is a the least probable scenario that bitcoin could still skyrocket to a hundred k. Once again, the least probable scenario i think uh the most likely scenario is that bitcoin is uh gon na bounce and get into the retracement, and i think all season may come. But look i could be wrong right. These are all thesis, thesis, uh, uh, different thesis and probabilities, so just be prepared, though, for these scenarios in my mind, i have accepted the fact that hey this shows over right turn: the lights off, lock the doors up, um its over bear market now go into Dca mode accumulate and wait for the next bull cycle, so thats. Where were at guys a lot of uncertainty, a lot of fear in the market well see what happens and were seeing high correlation between the crypto market and the stock market. Guys stocks are, of course down as well, so theres macro trends affecting the crypto market. That is definitely what were, i think, uh verified and and certainly been proven.

True um over the past year now, even michael saylor, who ive called the biggest bitcoin bull ever he tweeted out this morning, uh the mcdonalds meme here of him working at mcdonalds serving fries. So this has been like a meme shared within the crypto industry, but you got sailor doing this now. Heres the tricky part my friend sailor, hes gon na, have a margin call, i think, if bitcoin hits like 20k or something like that uh, he better pray that doesnt happen and i hope it doesnt happen. I dont want to see him wrecked um. He holds a lot of bitcoin and uh right now, hes, i think, operating at a loss based on his average price that he has bought. So i mean his portfolio is down hes hes. He said he hasnt sold any bitcoins here long term, but uh. This is still nervous times guys. This is cold, sweat times for some of these guys who are holding a lot of crypto now i dont use leverage so im sleeping well at night i didnt invest my life savings im sleeping well at night. I have my 401k. I have my savings and then i have my money that i invested so um im still up to a certain degree, because ive been accumulating since 2016 2017. Some of you may have bought last year what it may be and heres my advice to you, because i remember i bought at certain points when the market was high in 2017 and i just huddled through, and then i made my my return.

So obviously, though, if you need the cash, then you got to liquidate and move forward and i hope none of you are using leverage because leverage will get. You wrecked and ive said that many times now, heres a number thats, pretty crazy. 508 million dollars has been liquidated from the cryptocurrency market in the past 24 hours, so just 24 hours when you count uh going back to friday, its probably in the billions already that are being liquidated, guys, um tough times tough times i cant sugar sugarcoat. It here guys this is bloody. Now whats interesting el salvador bought the dip uh president buchelli tweeted out 500 coins at an average price of approximately 30 744 dollars so buying the dip guys. Now some people may be like oh youre, so stupid or whatever, but once again investing principles buy to low sell to high and when theres fear and blood on the streets thats the time even warren buffett. These guys have said it thats the time to be buying whether it be crypto stocks, whatever it may be, weve seen when you zoom out and look at markets from a macro level, its a line going up guys, yes, theres peaks and valleys in the middle. In the days and the weeks and the months, but from a yearly standpoint um, this is a great great buying opportunity once again, not financial advice. I i said at the beginning im in a holding pattern. Um, even i i dont have this stomach to to you – know, risk my capital at this point, especially in this macro environments, not so much crypto, but whats happening overall with economy, recession and so forth.

So im hoarding cash. At this point, um – and you know, bitcoin retraces and we have all season im taking profits. Let this be a reminder to you guys to take profits and be patient and understand the market cycles. Now this is some not so good news, so ust, which is a stable coin from luna, is in absolute free fall as it depends from the dollar bitcoin liquidation becoming a concern. Look at the chart here, uh. It was pretty bad day now. Goquan tweeted out that hes deploying more capital, steady lads lets see how this works out for him, but it kind of sucks. You know the market crashing, but um lets see what happens and and a lot of folks were paying attention to this, because dokuan and and luna theyve been buying a lot of bitcoin and the reserves for the stable coin is bitcoin. So we shall see what happens. I hope he doesnt get wrecked or anything like that. You know once again im not here to say people should get wrecked or whatever. I hope people make money and i want to make money, and i hope you guys make money and i hope some of you made money last year and you know ive said many times be diversified. So if your one horse, doesnt uh, you know win the race, you got some others and you can make money off of those. So i hold xrp bitcoin ethereum cardano different ones took profits on some some of those um, as the prices went up now.

Um, look at this metas instagram to support nfts from ethereum, polygon solana and flow. The social media powerhouse wont charge users for showcasing their crypto art guys. This is huge adoption news. I know its. You know not not a a bullish time. Sometimes its hard to you know even read through this news, because the price just over you know it just the price becomes the big thing right now because were crashing, but this is huge for the future adoption of crypto, so non fungible tokens from some of the Most popular blockchain networks for crypto art are coming to instagram, with the announcement of a pilot as soon as monday, the social media powerhouse owned by meta is planning. Nft integrations for ethereum polygon solana flow coindesk has learned those networks host the vast majority of trading digi collectibles with ethereum and its board apes, leading the way by market cap. The pilot will feature a small group of nft aficionados based in the u.s. It wasnt immediately immediately clear whether instagram would support nfgs for all four chains at launch guys you got these social networks with billions of people on them are going to be integrating nfts and different crypto technology and blockchain technology. I just hope you see whats happening right and that you look past the price to see uh the technology being adopted and being used and its growing year over year, youre, seeing the adoption grow and price, just as we saw last year, will follow the adoption right.

Ive been here since 2016., uh people said bitcoin couldnt hit 20k and they couldnt or this coin couldnt hit this price. Well, it did and then it did it again in the next bull cycle. What do you think is going to happen in the next ball cycle? As we have this level of corporate and mainstream adoption guys so um, like i said, im here long term, i know some people want short term quick gains, but thats not always the case. Sometimes you got to wait years, so just be patient um. This is interesting. Nouriel robini, who i think is a big time: clown, um and hes been criticizing bitcoin and crypto for years. Well, all of a sudden, crypto critic, nouriel roubini, is working on a tokenized dollar replacement, wow loreal. Oh now we know whats going on its always the biggest critics that you know you always you see them capitulate in one way or the other jamie dimon. Well talk to me a bit about bitcoin, you lose your money. Is a scam building jpm coin now offering crypto services, so this is unbelievable, guys, um heres what a joe uh uh uh weisenthal of the co host of the odd lots, podcast have to say he said wow after years of building a reputation of a bitcoin, slash Crypto, slash blockchain, skeptic nouriel is launching a new crypto project designed to create a new superior inflation. Proof dollar. Good luck with that, nouriel um, you know what is it they say.

First, they laugh at you and then they um fight you and then you win and so forth. I forgot the full story there, but um you just see: youre were just seeing that play out in in in different facets of the crypto market with different critics. Finally, guys juan chain and cardanos iohk are collaborating on enabling interoperability between the cardano, mainnet side chains and other blockchains one chain will deploy crosstrain bridges and serve as an evm side chain to cardano. So this is some good news. I remember one chain integrated xrp. I think was last year ill, be interviewing charles hoskinson again in a couple weeks, so ill be talking to him about this and much more. If you have any questions about cardano and ada for charles, you know leave them in the comments section, and i could. I will definitely take a look at that. Well, thats the news guys, i mean pretty much its the price right. We, where everybodys in a waiting pattern here, what is going to happen next and boy. I hope my scenario of uh, bitcoins, retracement and all season happens, if not once again, im mentally prepared for uh the worst case scenario, and that is bear market for maybe the next year and then we start working our way up but well see what happens. My friends fingers crossed, let me know what you all think leave your thoughts and comments below hit the thumbs up.