CRYPTO CRASH! WHEN IS THE CRYPTO CRASH GOING TO BE OVER?
3 percent right here right now, bitcoin at 22, 1. ethereum back up a little bit at 11 9.. If you look at the last 24 hours, ethereum has been down to 1.095, firmly believe theres, some things coming here. Okay, so i need to set the stage here for you, theres, a couple of big things to be aware of tomorrow begins the federal reserve meeting. The fed meeting starts tomorrow goes into thursday, okay and all eyes are on the fed. Are they going to raise the base interest rate 50 basis points? Are they going to raise at 75 basis points? What are they going to do? We had the we had the inflation data come out last friday. It was horrible, bad inflations at a 40 year. All time high um, which we have runaway inflation, okay, and so in that scenario all eyes, are on the fed. What are they going to do to try to stop or slow down? Really this red hot inflation thing weve got going on, and it is those macroeconomic indicators that, in in those those conditions that have been crushing crypto recently, okay, it is the uh runaway inflation. It is basically the global supply chain, massive disruptions that have happened across our world um. You know with the russia, ukraine, war, china covet major ports, shut down, manufacturing shutdown, um again back to inflation, runaway inflation make making it just simply more expensive just to live every single day. The fear associated with that, oh by the way, the crypto fear and greed has hit an eight, and i honestly do not remember last time we were this low.
This is insane extreme fear of an eight okay. This right here measures social sentiment and social behavior and social attitudes towards crypto. You can see its at an eight and eight is horrible. You can see. Last month we were at a ten. We have been here for a long time and you cant have pervasive long term fear uh around crypto and not have it impact this. The market capitalization people literally being so afraid and they pull their money out and literally stick it under a mattress whatever it may be. Okay, again not saying its right or wrong its just the state of the union of what we have going on, and so where do we go from here? What is this whats going to happen from here number one. All eyes are tomorrow on the fed, got to watch that and and whether or not theyre going to raise at 50 or 75 basis. Points has yet to be seen were expecting a 50 basis point raise if we get a 75 basis point raise, which is the fed trying to be even more aggressive about trying to stave off or or slow down. Inflation could be viewed as a positive. Historically, when the fed has raised it higher more than we expected its been viewed as a massive negative could be viewed as a positive. We dont know it could be viewed as finally really really really aggressive measures from the fed to try to stave off and shut down inflation, at least trying to slow it down.
Okay, again its inflation thats whats, impacting you and i every single day when you go to the gas pump and its more to fill up your truck your car. When you go to the grocery, it costs 20, 30 40 more to buy something that you used to buy, obviously at a lower price, fear, uncertainty and doubt right: okay, all right so thats. Where were at right here right now, market crypto crash. Could we go lower? Yeah we could go lower. There is speculation that bitcoin could go, could drop into the teens. There is speculation that ethereum could drop as low as six hundred dollars honestly cards on the table. I never thought i would see ethereum at six hundred dollars. Frankly, in my lifetime, i didnt think that was gon na happen, but weve had again a perfect storm scenario here of all these macroeconomic conditions. Playing into this and thats, where were at stay tuned im going to be here, uh im going to be traveling tomorrow, im going to be in las vegas for tomorrow, ill be coming to you. There uh with more info as as it unfolds, thats what i got for you. Thank you for giving me a few minutes of your day. Hit that subscribe button.