Is This The END OF CRYPTO? UST LUNA Crash Update!
I want to talk about lumina ust, also talk about where bitcoins, at what im planning on doing in stocks and crypto, and take a look at some of the newest things that have come out in the last 24 hours. Because there has been a lot. A lot of news, so if you guys dont mind hitting the like button and subscribe button, i really appreciate that theres a link underneath the video to ftx. I know you know everyone thats in the market right now probably has a broker or an app that theyre using, but there are new people coming in. So if you havent tried an app try out ftx, they give you free crypto when you trade, 10 or more. They also allow you to trade at really low trading fees, which is great because you get more crypto per dollar. They also have six million clients already and allow you to track a bunch of different cryptos, its one of the best apps out there. So if youre looking to start buying, crypto or if youve already started. But you know you realize that theres a lot of volatility, because when there is a lot of volatility, the prices go up and down a lot. You realize that sometimes the apps stop working or freeze, or something like that, because so many people are trying to get on. You guys can check out the link underneath the video now lets take a look at the crypto market.
This isnt good uh 1.25 trillion dollar market cap down 15 over 24 hours. So there are a couple big notable uh cryptos that drag this down. First of all, bitcoin down about 10 percent in 24 hours, ethereum down 20. We actually have tara luna going down. It was all the way at one cent. This was a hundred dollars a couple weeks ago. I mean this has been something that i will talk to. You know my friends about my kids about probably when i teach them about investing and diversification, and this has just been insane crazy: minus 100 in seven days it doesnt even round to anything besides that, so this has just been a crazy time. We also have ust that actually is further away from its peg now than it was yesterday, so its at 50 cents. I want to be clear – and i talked about this in my video yesterday – i got out and i actually got out slightly lower than what it is now uh kucoin, which is what i use for. Ust. The the prices are a little bit worse on there and at the time yesterday i saw what dokuan had told us. His plan was, and i just didnt have faith like theres. Even if this goes well im going to tell myself, there was probably a 50 50 chance. It gets back to peg and i think the big problem for me was that luna had fallen so much in price.
It was just a few dollars and they were supposedly trying to get people to buy it for half off and no one wanted a piece of it. So my thinking was, i dont know if they can actually sell enough to get this back to peck, because this is a significantly larger market cap now, with with how far it is down still than luna, i mean this is 7 billion. Luna is 350 million, so that was my thinking that if they sold everything right, if they sold everything or if they minted a bunch of luna uh, you know to increase the supply 10 times over. I didnt think they had enough money to get this market cap back now. I could be wrong. I could misunderstand that i dont think i am, and i think everyone thats really been in luna or ust has been trying to get out over the last few days. Now some other people are talking about where they got out at and ill cover that here in a bit, but just know if you got out at a worse price on this or got a better price. You know there are people all across the board that are getting out and i dont necessarily think its a horrible thing. If you got out at a bad price, because you know you did the best with the information you had at the time thats. Just my thinking on it and its been a terrible situation, but you have to realize hell come out stronger on the other side.
From this now, where could bitcoin go? Um well were seeing lots of liquidations right 435 million dollars – 355 million dollars in heat 65 million dollars in luna 1.23 billion in the last 24 hours. So this has caused the price to fall down a lot. We actually saw 26 000, actually dipped below 26 000. Earlier today, so this is probably one of the worst one of the worst markets that ive seen uh in crypto theres, just so much fear, which i mean its great long term right. If you can buy now, but you have to realize we could fall further as well, so we dip below 26 000 uh were right around twenty eight thousand. Now, when we look in the past right, we broke through these supports here we broke through the hundred week. Moving average really were approaching the 200 week, and that has been where we historically end thats been historically, where we bounce off of in the end, and we start moving upward eventually. So what is that at? That is at 22 000 about and you can actually see the rsi is at an interesting place as well. So were right around about a 32 33 rsi when we look in the past thats, where weve been historically when weve been at the low point. So if you look back at covid, you can see were actually about 33, and this is where we hit about about four thousand dollars. If we look even further back right, we saw similar things back in 2018.
There we broke under 30. This is on the weekly and we were right around 3 000. So really at the low points. The last couple times weve been right around this weekly rsi, so ill be ill, probably be averaging down, maybe one or two more times before we get down to this rsi or before we get to this 200 week, moving average then ill be going heavier. I wont put everything in just to be clear everything i have for crypto, i wont put everything in, but i will put a significant amount and thats when im going to really start looking at altcoins is, if were in this 22 to 24 000 range. Now there could be some things that affect this, but thats my plan as of now, and i think thats a good one, so ive been buying down as weve gone along, but right now i have bought recently at 28, 000 and now im waiting for a little Bit more of a dip – maybe 25 26 buy one more time there then 22 23 and then hold a decent amount of cash to buy pretty heavy. After that now we did get some interesting numbers here. We got the ppi today and we got. We also got unemployment numbers, so core ppi was actually pretty good. It ended at 0.4 versus 0.6 estimate showing inflations come down a little bit. This is a leading indicator too, because this is what producers pay and then it gets passed on to consumers.
Now the market lets take a look at that. The stock market lets see how its taking it not great right, the the whole crypt or the whole stock market, not just the crypto market, is down. Today i mean it theres. Definitely a lot of big money, thats just pulling money out positions at any cost, necessary theyre theyre, leaving the market theyre theyre pulling their cash. I mean tesla is under 700. We have walt disney under 100 theres, so many stocks that are cheap as well and maybe part of this is because of you know, russia, inflation supply chain. North korea now shows that they uh they had their first covet case, supposedly our first covet outbreak and now theyre testing rockets ballistic missiles into the sea. Now theres also extra fear, because theyre literally exchanges that are selling or disabling crypto transactions and then liquidating them. I mean look at this uh i bit disabled luna and close everyones positions at market value uh. You know we have people selling out of stable coins for big losses. 22 percent – i mean lark davis – still made money on this because he uh has had money in anchor protocol. For years. Like i said, i sold out a much bigger loss, we also have uh. We also have other stable coins there, depending i think the ust fell down to 0.94 significant amount down now alex becker, someone that i actually like a lot hes another youtuber.
He says this is what hes doing right now, hes going to dca for the long term. Solana, link xrp polygon and a small collection of games and some ada, which he says real. No, it will probably go lower, but these prices you can get rich just by holding. If you can wait a few years, i am like i said before, looking for bitcoin to fall a little bit more, then i will ill buy uh some of these altcoins when theyre real cheap, i mean thats a plan. At least i am going to continue to dollar cost average into the stock market as well. I mean there are two different pots of money for me. Essentially, this is long term like foundational growth and then crypto is whats really gon na make me wealthy. I believe over the coming years, but these stocks are just really cheap, theres, no question about it and i think that these could return a little bit faster than crypto. I think crypto, we need regulation and we need the stock market to do well. I think thats whats really going to push it youre going forward, so thats just my opinion. Of course you can do your own due diligence but thats, my thinking, so i think this is going to be an interesting time. I think this is where a lot of money is going to be made were going to have people come into the market for the first time, because theyve always waited.
They just saw prices that were going off. The charts and theyve waited were also going to see a lot of people leave the market, people that lost a significant amount of money, think its a ponzi scheme and just want no part of it thats. What we see with every big crash and honestly, it makes sense bitcoins around this level, were down about 60 percent from eyes and with the nasdaq down 20 25 30 percent, and with some of the deep pegging of these stable coins, i think it makes sense bitcoins Down to this level, i mean its its right in between where its been the past and the 200 week, which is where it typically falls to. So i think this is a great time to be dollar cost, averaging averaging over the long term. I still believe in one million dollar bitcoin and at these prices that means were getting about a 35 x. So let me know your thoughts on this underneath the video are you going to be dollar cost averaging similar to me, are you gon na be lump sum? Investing, let me know your thoughts on this underneath the video.