⚠️ DEATH OF CRYPTO / BEGINNING OF THE BULL RUN / YOU NEED TO BE WATCHING THESE INDICATORS ⚠️
Some of the things that im looking at as far as where we may be headed um. I do think that theres a potential for us to have some sort of a bounce here, like i said a couple days ago, um you know yesterday was a green day. Today, obviously much more in the red, but you know looking at the market right now, bitcoins down seven percent today, which means that the rest of the market is tanked way: worse, xrp down 24 solana, down 31 polka dot down 24, i mean run the gambit here. The whole market is pretty much red um, so lets look kind of as far as where were at here i will say i think that um that mid that 90 day time frame when i pulled up the previous um charts as far as these moving averages that I showed you guys on the blx, where i talked about 90 days until full capitulation, thats. Looking like that 90, i mean time frames are kind of irrelevant right, um, just looking at historically what weve done, and you know this isnt nailed down a hundred percent, but you know: look at the 21 ema. Look at the 50 ema on the monthly chart right. Uh – and this is a little bit different, but we can see previously, you know within bitcoin if we break down below the 21 ema and the monthly uh we go and mess around with this 50 em and the monthly you know we did it back in.
We did it back in 2018, we can see. You know this isnt going to populate all the way back, but 2015 and 20 late 2014 uh into early 2025 or 2015 god i cant talk um. We were certainly down here around these levels. Uh were obviously headed to that point right now, so i do think that weve got a little bit lower to go as far as you know, the monthly chart for bitcoin. If, if it happens this month regardless, i think that once we broke below the 21, this yellow line here um were going to the 50. uh and where the 50 is at right now, youre sitting at 26 hundred dollars, whatever its a really insignificant number um, we Can see prior to um prior markets, weve, obviously moved down below or wicked down below this 50. I would expect us to probably do something similar again, um yeah, i mean this 21 to 23k range is really interesting to me. Dont know if we get there this month, but its certainly something that im watching and thats just bitcoin. You can look at the crypto total market cap and theres a lot of synergy within this as well, and just literally pull pull up a monthly time frame. Go to tradingview.com, all you have to do is pop in the 21 ema and the 50 ema, and you can look at what happened. The previous cycle thats not to dictate exactly whats, going to happen this cycle, but you can see that we touched the 50.
once we broke below the 21 ema on the monthly uh. With the total market cap of crypto, we 100 touched base on the 50.. We had a little rally and then that march of 2020 capitulation moment again uh where we wicked down below i mean these things are pretty once once you start getting to these levels. I mean its pretty clear, cut and dry, at least in my opinion, where i think were gon na go its not written in stone uh. Certainly, you know everything that people look at from a charting standpoint and ive never alluded to me being this big ta guru which im certainly not but zooming out and looking at bigger time frames. Um makes it a lot easier to potentially gauge where we might go again not set in stone, because sometimes things happen and just you know, theres a shift that maybe we dont repeat what weve done in the past here um and then total market cap, excluding bitcoin Same thing, um, the 21 and the 50, i mean we went down and touched on the 50. um wake below it a couple of times as well. During those capitulation moments. I would not be surprised at all to see something very similar happen, so it might not be the news that everybody wanted um but thats thats kind of what im looking at um do. I think that the pain is over uh. No. Could i be wrong? A hundred percent – yes, i could be wrong um, but just based on looking at these larger time frames.
I think that weve got a little bit more downside to go um i id be surprised. I wouldnt be surprised if we had a little bit of a rally with a rejection and then capitulation in like a month or two, but this has happened so fast. I think a lot faster than a lot of people were anticipating um, even from the monthly standpoint. If i pull up the weekly on bitcoin, you can still, we weve got a little bit of room to go down still um, not a lot uh its only like uh. You know if we were to go back down to the uh, the 210 um ma on the on the weekly, its only like 20 down uh were which, which uh even looking at this like a week or two ago, it seemed like it was way further away. Right, but you know im trying to look at simple things: um, you know and seeing where were gon na find. You know that support level that weve all been looking for, uh, tara, luna, obviously down 94. Today, when i woke up this morning, it was at like 70 cents, which is absolutely nuts um. If you look at the price where it was at even you know, a month ago it was 116 and it went down to 70 cents. I i wanted to say you know. I know a lot of people in the xrp community were like. Oh, the terra luna people were on the xrp community.
Whenever the lawsuit happened, et cetera, et cetera like who cares um, you know i fee, i feel for the xrp community, a thousand percent whenever that lawsuit hit, but i feel for the terra, luna people too um. This is just another thing that should allude us all to believe that we need to diversify to an extent within this space um. You know theres going to be multiple winners, and then you dont want to be stuck in one of these assets. If one of your assets, you know, goes down 95 95 um its horrible, and i think that we even see a lot of like um angry individuals in like in the xrp community um, even in the hedera in the hbar community like but xrp, certainly where maybe Thats the only asset that theyve chosen to hold for a few years – and you know the one thing that i always like to talk about – is diversification, because i really do believe that theres going to be tons of winners in this space um its just a shame. Its a shame to see these prices crash and im sure that a lot of people got affected in in terrible ways, so certainly not not going to laugh at individuals that may have lost all the money that theyve had in the world, so um yeah. I feel for them. One thing i would say is you know this space isnt going anywhere theres going to be definitely ways to make make your money back in this space.
You know if you just stick with it for the long term um. So you know this all started with this tara usd so uh ust, and you know the the deep pegging uh it went all the way down to like 30 cents. I think last night, its its 70 cents right now, its supposed to be a dollar based on this algorithm, et cetera, et cetera, um charles hoskinson, from cardano putting out you know this um, i dont know this is being disputed now, but this is what charles had Posted so heres the word on the street, with luna blackrock and citadel barred 100k bitcoin from gemini. It appears in their loan book they swapped 25 000 of that bitcoin into uh into terra usd. This was all done quietly in anticipation of the attack when the time was right. They called up doe kwan at tara foundation, said they wanted to sell a lot of bitcoin for um tara, us dollar uh, as it was a large trade. They told him. They didnt want to move the market and asked if he would like to buy their large block of bitcoin at a discount for ust dokwan took debate. He gave them a huge chunk of ust, thus lowering the ust liquidity significantly at that point, blackrock and citadel dumped. All of the bitcoin and the ust causing massive slippage and triggering a cascade of force selling in both assets. The real problem was blackrock citadel knew that anchor, which holds a lot of luna, was a ponzi and that this crash would trigger more withdrawals than anchor can repay these forced withdrawals and selling would trigger a mass sell off in luna, thus further breaking the one dollar Peg and wrecking the market further blackrock and citadel can now buy the bitcoin back cheaply to repay their loan and pocket the difference.
Meanwhile, billions of longs and bitcoin were wiped out. This was pure market manipulation. Uh we could see gemini responding. We are aware of a recent story that suggested gemini made 100k bitcoin loan to large institutional counterparties that reportedly resulted in a sell off of luna, et cetera, et cetera um. The one thing that i will say today, youre starting to see narratives of uh crypto being dead. I saw it in here earlier today. Maybe i wont be able to find it. It says you know: kryptos dead, et cetera, et cetera through forbes and whoever else um, which means that i think that were getting closer to a bottom uh. But, interestingly enough. So this is crazy and i forget the dude that shared this on on twitter with me. So and if youre watching this apologize, i accidentally deleted the that tab um, but thank you for sharing this financial stability report coming up coming out from the fed and um huh wouldnt. You know it. They talk about uh, stable coin risks, um vulnerable to runs, and the sector continues to grow rapidly. Isnt that timing just super interesting right. Stable coins typically aim to be convertible at part of dollars, but they are backed by assets that may lose value or become e. Liquid during stress, hence they face redemption risk similar to those of prime and tax exempt mmfs was that money, mutual funds um or money whatever that is hold on what is mmf, yeah money market fund um.
These vulnerabilities may be exacerbated by a lack of transparency regarding the riskiness and liquidity of assets backing stable coins. Additionally, the increasing use of stable coins to meet marginal requirements for leveraged trading and other cryptos may amplify volatility in demand for stable coins and heightened redemption risks. Um, just very interesting that uh the fed puts out a uh document that talks about runs on uh. These stable coins uh literally right when it happens, um – probably nothing to see here right so moving forward, uh coinbase. Now this is another thing you know about custodying. Your own assets coinbase putting out its. I think this was its quarterly first quarter or yeah first quarter earnings report, but talking about you know in the event of bankruptcy within coinbase and coinbase stock tank today, um in the event of bankruptcy, uh, an individuals, ownership of cryptocurrency is supposed to be immutable and Absolute, but that is not the case through uh coinbase, essentially this disclosure saying that during a bankruptcy event within coinbase individuals, um would not have access to their funds um. Let me see if i can find this here. I found the whole thing: yeah, its users might lose all the crypto coins cryptocurrency stored in their accounts too, all right, yeah, coinbase users, all right. Yet the exchange noted that, in the event it ever declared bankruptcy, the crypto assets that are held in custody at coinbase. On behalf of our customers could be subject to bankruptcy proceedings.
Coinbase users will become general, unsecured creditors, meaning they have no right to claim any specific property from the exchange during the bankruptcy proceedings. Their funds would become inaccessible, scary fact, being that coinbase literally holds 256 billion dollars in fiat and crypto combined right now. You know that number. If we were just to put that in crypto stands, that is 10 of what the all time high was basically um of the entire crypto market and right now its way lower. What is the total crypto market cap right now? Um one point 1.1.229 trillion, so thats really scary. You know thats like over a quarter right, so um all right. Moving forward here. Looking at songbird songbird down 21, i mean some of these assets like energy web being under 100 million dollars is really interesting to me. Uh hedera hashgraph, you know, being under 2 billion quant being under a billion dollars, is a joke. Um im looking to be picking up some more quant im, certainly going to be looking at picking up hedera hashgraph, moving forward energy web songbird. Still looking for my big entry into songbird, regardless of the airdrop, i wanted to make another purchase again. None of this is financial advice. You can run the gamut theres tons of assets out there that are undervalued right now. Um. All that im looking at are some of these high level type things that tell me you know this is probably the time to buy um.
It seems, like you know, and im, not gon na knock anybody for making those decisions right now like i actually, and i think that this is probably going to be a bad move, but i saw tara down like 95 and i realized um that the project may Be wrecked, but when i see something down, thats 95, like i bought a tiny bit of uh tara luna today, uh and but i only bought it. I i literally only bought what im 100 willing to see go to nothing um and value. But you know thats not to say that theres, not a lot of things that are undervalued right now, but im just looking for a couple of different trigger triggers. Not not even just these ive showed you guys, multitudes of them. You know in the past um and once a couple of these things get hit for me and were real. Damn close at this point in time, um. It will kind of be that that moment for me to make my move and then hopefully be able to sit on these assets for a couple of years and not watch um the prices and just do research and talk to you guys about some of the stuff That im finding and theres going to be tons of opportunities, guys um. You know and i feel for anybody thats gotten affected during these crashes. You know i would certainly preach diversification in this space. Oh another thing, um yeah, watching uh tether right now is really interesting.
Too we, you know, i think that um, in my opinion, tylers, probably a ticking time bomb um. But you know if, if you see what happened to luna, when ust d pegged um watch what happens to bitcoin if uh usdt ever d pegs, you know completely so uh or or if the funds um arent there to back it so or peg it so yeah. I hope you guys enjoyed this video uh again a little bit of a different video today, but theres certainly still hope. Uh. The narrative is is not as strong as the innovation, and you know the swallowing of all other markets by this asset class. I still fervently believe that nothing has changed fundamentally whatsoever, um within digital assets and cryptocurrency. This is the market cycle playing out um and you know we were oversaturated for a while with a lot of nonsensical things in this space, and this is kind of the flushing out of that nonsensical value. And then you see the real builders out there and you see the real value projects that continue to build and that will survive through these bearish uh markets and its gon na be exciting to watch play out. I hope you guys are all prepared for it um. What is this, what is it uh, kylo ren and the snl thing was like after the after the after the rain comes the rainbow um, its just gon na take a little bit of time for this rainbow to occur.
I think, but were close, guys um a couple things here for you to watch like i presented.