Some of the craziest moments ive ever experienced in crypto from the ust, depending luna eviscerating into actual dust, and last night we started to see the behemoth usd tether start to lose its peg as people. Irrationally started to fear that it would go the same way as ust. We also have coinbase fud that peoples coins on coinbase might actually get confiscated in the event of a bankruptcy, but, as you heard in my voice yesterday, im also excited today because, as these huge moves down happen, there is once again these opportunities to get high value Asset buys and start actually playing a little bit of chess ahead of the market. Again, the only chess to be played in q4 was to sell the top and to wait for a market reset or to short, but the reality is is now we have a chance to start layering in buys once again into what i believe are the worlds best Assets at incredibly reduced prices from their all time highs so lets dive into it. We have a ton to cover today. As always, i know these times are super super tough on people, and i want to encourage you to understand that ive been through these tough times before. I know just how crazy they can get and ive also made it through to the other side, and i believe strongly that this time is not different. That crypto is beyond the point of no return and that it will evolve into an amazing industry that will consume the internet, pretty much every sector of the economy and culture that has been talked about over the past few years.

That is still in the cards. The question is not if crypto is going to be joined or accepted by the masses its when and at what price most people will start using crypto with that said, if youre excited for this one, destroy that like button obliterate, it smash it into dust gently caress. It just interact with the like button. Tell it how you feel with that said, lets dive in so now lets talk about luna theyve now, officially halted the luna blockchain, officially, citing that luna was so low in price, that the blockchain is no longer secure and they needed to halt it this effectively. As i understand it halts the mechanism to convert your ust back in to luna, which was causing this evisceration of price now at negative 98.4 percent in one day, with luna having once traded at close to a hundred dollars now trading at not even 100 cents. This is one of the craziest eviscerations of wealth in the crypto industry that ive ever witnessed and in many ways it does bring up the need to understand better stable coins, algo stables, all of these instruments in d5 that have worked during a bull market but needed To be tested to ensure that they were actually safe, i personally had way too much money tied up in the luna ecosystem and, upon reflection, i was absolutely insane for pursuing that path, and so, if someone as sophisticated as myself and as i understand that a ton Of hedge funds could get lulled into a sense of false security holding things like ust, then this is a much needed.

Wake up call for crypto that we cannot be relying on the ground below us to be stable coins when, in fact, they are not stable, and this, of course, is leading to a ton of knock on effects. Now, of course, finance is de listing the futures contracts allowing for people to short and long luna, which of course was heavily happening throughout the last few hours again. The gig is up here, and this is the biggest fall from grace of any crypto project since bit, connect really, which is absolutely mind, blowing that those two are now in the same category, the once hero of d5, the hero of crypto dokwan, just a few hours Ago has been totally silent and this is a titanic of sorts in the crypto ecosystem, now heres, where things got really crazy, because yesterday, literally all algo stables, usdn neutrino on waves, any other algo stable started getting dumped like crazy, because people realized that these stable coins Are anything but, and it created bank runs in all of these algo stables? Thankfully, most algo stables are pretty small in size. However, there was one stable coin that people have been talking about for years, almost a decade now as being one of the biggest systemic risks to crypto. If it does fall apart and that is tether and what got my blood flowing last night was in the late hours of my night time in la i started, seeing that tether was really losing its peg and thats, because people were starting to jump out of tether Into other stable coins fearing that it could go the same way as ust as you can see, that trading against usd here tether started plummeting into the mid 90 cents range.

That is absolutely scary, because ust was 18 billion dollars at the peak. Tether is 80 billion dollars that is way too much risk for crypto to absorb and, in my opinion, maintaining the sanctity and stability of tether is one of the most important things to preserving the crypto ecosystem. As we know it today, if tether goes down, that is absolutely one of the scariest things i can imagine, and i do not believe the crypto ecosystem is set up to take that shock. Now things did not go that way, because paulo over here, who is the head of tether, is the cto of bitfinex and the cto of tether. Hes been running this project for many many years. He said reminder that tether is honoring usdt redemptions at one dollar via tether.2, over 300 million redeemed in the last 24 hours, without a drop of sweat and effectively. What this is is its the same mechanism. That usdc has where you can send your tether in and for every tether. You can get one real us dollar fiat dollar and that mechanism is absolutely required for stable coins to always hold their peg, because guess what i dont really care. If on some random exchange, uh usdt is trading under a dollar, if i can always send it in and get a dollar back now, the big question here is: is tether fully capitalized fully backed every single dollar? Look, i dont think theres a situation where all 80 billion dollars of tether and im gon na knock wood here.

So i dont jinx us, but i dont think theres a situation where all 80 billion dollars of tether look to get redeemed anytime soon, because so much of that is held at the exchange level and they would know better than to create this bank run. But the reality is that from now tether is completely stabilized and people were mixing up ust with usdt its important to realize that ust had this death spiral built into it, with the way that it allowed for minting and burning of luna. Whereas that is not the case for tether and theres, no predetermined amount of yield that is making people sit in tether tether is not a yield mechanism, its just a stability mechanism. The fact that you can get out of it four dollars in the hundreds of millions or billions of dollars at a time is enough that i think tether will be secured again. I do not even want to think about the world in which tether goes. The way of ust, its very very scary, and just like i said, like clockwork, were getting the regulators coming out, saying: hey theres, an obvious sign. We need to come in and regulate stable coins. They have figured out that stable coins are the weakness of the crypto industry that everybody uses stable coins that they are effectively the lifeblood of the modern crypto industry and how people exist fully in crypto and outside of this legacy system. And that is going to be the point that they focus on.

This seems like a foregone conclusion at this point, but i would predict that we get some serious talk about stable coin regulation, if not some serious, stable coin regulation within the coming months and that to me is going to be a fake out. Let me explain: i tweeted this this morning. Again, you guys know me, im, always bullish but its important to understand how the bull case plays out, because what weve seen is wave, one of capitulation in my experience, capitulation usually comes in multiple waves. However, lets talk about this – this is just a theory. Just come along the journey with me, but this was wave. One now were getting the fears of regulation, reg fears, or maybe some poorly worded announcement that wont actually make its way into final law will come out and there might be some wave 2 of capitulation and this, given the weakness of crypto right now. The lack of buying pressure would not surprise me to see another tick down, and that to me is the fake out. That is where crypto really bottoms, whether thats around the 20k level slightly below the 20k level. Anything below the previous all time high would send people into the biggest panic of all time and thats. Why? I think that it might actually happen, because insane panic out of holders is what allows for cheap and easy entries for whales and for big governments and other bodies that might want to come in and buy up the supply of things like bitcoin and other cryptocurrencies.

So the big money wants you to panic. They also want regulation because once regulation comes into play, the big cautious money can finally get off the sidelines with clarity. In my opinion, a regulation drop is a major major fake out, because regulation long term is bullish, and i clarify this long term regulation will be bullish anyway. This will cause a crypto bottom. Hopefully, here in the summer time things are moving real fast, so i dont think the bear market is going to be as protracted as last time. I think were going to get the bottom pretty quickly, if not in the very near future, and this will come right as the u.s officially enters a recession which, if we have negative growth, this quarter, we will officially have been in a recession. Obviously, recessions dont get officially anointed until two quarters of negative growth, but just know that most recessions dont last that long so by the time they say its a recession, its pretty much over or its close to being over once that happens, i do see stocks continuing To tumble a little bit after crypto and thats, because mainstream markets have more safeguards, so trading wont go as far as fast as crypto, but anyway thats another topic and then finally, i believe under these conditions, inflation will recede and that prices will go down which, of Course sets up the storybook fed pivot. Now the fed would want to pivot for multiple reasons.

One the economy is in desperate need of help. Two inflation has been controlled, or at least somewhat receded and three. The elections are right around the corner and no one has more influence over the federal reserve than the acting president and the acting administration. So i would be very, very shocked if we dont see some kind of fed pivot. That would make at least the case that the democrats are focused on the economy for the november election, so theres my timeline, and when this happens, if this happens again, we dont know if its going to happen. If this happens, this to me spells an up only way for q4 and in general we understand that crypto will be one of the first places that people dump money into to make up some of their losses from the fed pivot into quantitative tightening, and i believe Thatll happen in spades once they pivot back into easing once again again. Crypto is a game of chess, its a long term game, its not one that you win in one cycle in one month in one trade, its a game that you get better at and get better at and eventually you grow with the industry. So the main goal, in my opinion, is to not get shaken out and not to completely leave and disengage with crypto. So again we dont know exactly when will bottom, but we do know that we will bottom and once the fed utters the word.

I believe that the jets will be flipped back on in a major major way, both in the stock market, as well as in the crypto market and speaking of stocks. Lets talk about coinbase, because coinbase made something like 11 billion dollars last year. I actually dont remember what they said, but they made an insane amount of money last year and their companys only trading at like 3x, the multiple of their earnings, which is absolutely crazy in the stock market, to have earnings, be that close to the actual market. Cap of the stock, which starts to feel as those stocks are pretty undervalued at this point, and that if stocks are undervalued, the undervaluation of crypto could be seriously immense, especially in majors, as the fed turns back on with a more dovish policies, but just to dive Into this article, by the way there was this flood circulating and im actually not sure what the truth or fiction of this. But people were circulating a piece of the coinbase terms of service which would allow for coinbase to confiscate any user deposits. In the event of a bankruptcy – and i dont know if this is true, brian armstrong came out and said that thats not true in a blog article. Yesterday again, i dont think coinbase is going broke anytime soon, but in theory people were saying not your keys. Not your coins. Take your money off coinbase, because theyll confiscate it if they go into bankruptcy again, i dont know if this is true, but this led to a conversation around coinbase stock about coinbase in general and their solvency.

So again, this is just something to keep on your mind. I know its weird: i just talked about coinbase stock being potentially undervalued and then some foot around coinbase. I know 2022 super complex guys its okay well get through it together in nft land things have definitely been hit by the bear. Volumes are way down floor prices are down, but its actually pretty surprising. When we look at the uh. The blue chips here like, for example, board apes theyre still at a 90 eighth floor, they were holding in the mid 90s all throughout the crash. Its really really exciting to see these groups of people which, at a certain level, just do not want to sell these assets and thats, something that i was really looking forward to out of the nft space, which is effectively when are these very wealthy, very privileged collectors. Generally, a group of people that arent forced to sell when are they going to sell, and it seems as though in the good collections theyre not selling very much at least versus eth. The prices are pretty stable and thats. Definitely an interesting feature that all coins certainly dont, have which are getting eviscerated versus bitcoin and eth, not just some altcoins all altcoins across the board. If you love the project before the dip, then the dip shouldnt change the fundamentals right. It should just change. The entry point, but as always prices go up, prices go down, but teams keep building and on that note, imposters has yet another event today on schedule and each and every event will go off on schedule without pause, its really important for teams to build aggressively and Keep pushing towards their objectives regardless of price.

How can we expect for this ecosystem to evolve if teams shriek away when the market becomes tricky? No, i dont like that. In fact, i cut my teeth in the 2018 bear market. I worked my butt off each and every day of the bear market last time, and it put me ahead in life and im gon na do the exact same thing. This bear market, and i hope you all will join me, because the reality is that the projects that work hard during the bear are the people that hang around during the bear, its all far more healthy. Its far more optimistic, you meet the real builders, dreamers and shapers of the future in the bear market. Im excited to lead this community through this tough time and im excited to have this petzman go forward on imposters. The ufos have been fluctuating around 0.3.48, which is super awesome for an effective free claim here in the imposters genesis roadmap and again, the team for imposters is set up to be building for years, so whether this takes three months six months 18 months. Whoever knows how long to resolve itself the team behind imposters, the team behind super farm are set up to build and build and build rain or shine and thats a beautiful thing, because over the long haul, the teams that continue to crush it and bring real value To the ecosystem, i believe will become the leaders of the industry, the crazier the times get the more videos i need to make.

I am hook line and sinker sold on crypto as the future of our internet, the future of the way we interact, the future of our society in so many ways, and also these crashes are the reason why so many people leave the industry. The wild bull markets are so fun, theyre, exhilarating, theyre like a drug. The reality is that the bull markets are filled with so much noise, its so hard to see through to the signal and during the bear markets. You see the real builders, the real teams, the real innovation, the real community members and the real value so much clearer and so im excited for you all to have that experience for whoever sticks around. I sincerely hope, even if youre, not risking money, which you dont have to do during the bear market that you stay engaged and you allocate some time to crypto, because the people who just spend their time working in the industry contributing being a great community member. Just in general, staying up following the news and the trends, i believe those people will leapfrog others in life, just like they have the last two bear markets. Remember people like crypto cobain traded their way up from a very small amount of money in the early bear markets. People like binances cz sold their house for bitcoin at the bottom of the last bear market and dedicated his life to crypto. These are the types of stories of bear market activity that separate the leaders of the industry and the people who find tremendous success from those who dont as ive, been saying since the metaverse run ended, you do not have to put a ton at risk.

You always want to manage your risk because surviving this period and staying engaged is really the key. So hopefully my videos help you gain some perspective, get a sense of where i think the industrys going again. These are crystal ball predictions. The world is crazy right now, so anything could happen, but i do believe well be looking at some kind of macro bottom in the late summer and the people who are around to at least bear witness and see the pivot, i think, are going to be in Really really good shape, but im curious. What do you all think if you guys are still here in crypto, smash that, like button leave me a comment in the comment section below as always, im elio trades? You can find me on twitter elio trades. I thank you. So much for watching ill do some more giveaways soon in the near future, just to spread the love and bring some more excitement and with that said ill see you very soon.

https://www.youtube.com/watch?v=b-uDTZrR1y0