Crypto: THIS IS OUR ONLY HOPE! (Watch This!)
Weve, seen bitcoins price plummets to around sort of twenty one thousand dollars going to around 20 800 in the past 24 hours. The people who are panicking at the moment are people who have over leveraged over borrowed and over invested overexposed themselves to crypto to investing. Now we dont advocate that we never have said dont get involved in crypto 100, get involved in it and see what it can do for you, but for anybody investing at all whether its the stock market, housing markets, uh the crypto market, whatever it may be, dont Over expose yourself dont over leverage dont over borrow because by the time you see a time like this, where the markets are crashing, theres, blood on the streets and theres just chaos across the whole market. The people who are worrying the people who are scared right now are the people that need that money. You need to have money to put clothes on your back food on your table and also importantly, a roof over your head. Those are the three important things in life. If you cant get those things, then that is because youve over exposed yourself, thats just necessary. You know its just the way things go in life and so in todays video. Hopefully, i aim to solve and uh console a lot of people that are out there that are new to crypto and theyre new to this type of price action, because what we have done here create the busy weve been involved in the crypto markets for over four Years now, weve been involved in investing for over five years, so were understanding how the cycles perform over periods of time.
Now, the way that the market is going to evolve over time is super interesting, long term, im very bullish on crypto im, very bullish on bitcoin right now we could be seeing some levels lower, but at the end of the day we could be seeing a bit Of a bottom as well so a bit of reversal on the cards, especially for the summer, but theres. A few important key dates to be aware of especially over this summer, which could also uh do a bit more of a turmoil in the market. So lets jump straight into whats happening with crypto for today, as you can see 22 100 at the time of recording by the time you see, this video prices may be a little bit. Different prices may be below 20 thousand dollars, maybe above 25 000. The main thing at the moment really and truly is the volatility. The volatility is there for bitcoin and that is still showing the interest. Now you are seeing a bit of a reversal today, especially at the time of recording for helium and some of the old coins. As well a bit of a reversal pump bit of a relief rally which is sometimes needed um, but at the end of the day it is still not looking good in the longer time frames im going to go into the technical analysis later on the video. So stick around for that as well and also stay tuned for what im going to be doing during this time and also progressing from that going towards the end of this year and also much further to that.
The main thing at the moment, especially right now, is all eyes are on this meeting, which is happening with the federal reserve um. Are they going to be raising their interest rates to 75 basis points on wednesday itself? Now we could be seeing that i think its certainly possible to tackle with inflation. The idea of a recession is certainly a lot of peoples minds at the moment, especially if you look on google trends, you type in recession, you go on worldwide. Everybody is interested to see whether about to see a recession or not. The main thing right now is that the us dollar is very powerful, so importing stuff is quite cheap, but exporting stuff can be fairly times or sometimes be fairly expensive, with the margin call for micro strategy, um, apparently um the margin call be for twenty one thousand Dollars um, if you know if, if bitcoin did get to that, and it has got to that a margin call would happen for my micro strategy. I dont think thats going to be the case. I have seen michael saylor say that a margin call be anywhere between uh 3, 500 and 4 000 for bitcoin, so that is also super important. So when you see headlines like this and saying that michael sailor has certainly lost all his money, i dont think that is the case. At the moment, extreme fear reigns in the markets. That is important, especially right now. This sentiment right now is fear, and you hear that famous saying for warren buffett.
He has said before um, you know be fearful when others are greedy and be greedy when others are fearful, so were doing whatever weve done before, which is dca. We dc into bitcoin, regardless of the price we dc into the old coins, regardless of the price, and we accumulate positions over a longer period of time, ready for the next ball run, and that is super important. Now we also have our twitter accurate to busy linked down the description below go ahead and follow us over on there. We currently have nearly 80 000 followers on there. So a great interaction from you guys, the crypto busy family were also doing a giveaway at the moment of a thousand dollars in usdc, so be sure to be entered within that one lucky follower will win 1 000 uh very soon so be sure to be entered Within that, as well so again on our twitter, we also have some extra content on there. Some behind the scenes, content and wed love to see you over there as well and with this channel with crypto busy on youtube, be sure to subscribe. Today, if you are new, so lets go into the technical analysis for the part of this video and im also going to go through at the end of this video. What im doing right now, what were doing here at crypto busy going forward, and where could we be seeing things for crypto now, the main thing when it comes to cryptocurrency when it comes to investing really and truly is the key levels were always keeping an eye Out for the key levels and right now i have a lot of analysis from 30 or thousands to 60, 000 and the all time high um, so certainly some key levels to be aware of there.
But for the time being in the immediate short term, 22 000 is the price of bitcoin. At the moment we could be seeing a bottom out around sort of 20 dollars in the immediate short term. That is where i think things are going to be going and thats, where i think the bottom is really going to be for bitcoin. If we have a look, this is again the currently theres the the weekly time frame. If you have a look over on buy bits and have a look at the rsi on the weekly, this is the most oversold it has ever been, which is absolutely insane uh since charts and since records have began. It is the most oversold on the rsi on the weekly time frame ever and im sure its the same over on the daily timeframe as well, if not some of the top ten times the top three times top top five times that bitcoin has been oversold. So the main thing really right now is that we are very much oversold on bitcoin and i think the bears at this point are very much over and very much exhausted by whats going to be happening. I mean we have this announcement coming out from the federal reserve on wednesday were just to see what happens with that. I think most of the price action were seeing right now is already pricing in what the decision is going to be on wednesday, and also the gdp numbers coming out or the gdp projection for the us and north of the world uh coming out in july.
So most of this bearish momentum, youve seen since march of this year, pretty much actually since the beginning of this year has been pricing in what is going to be happening. What is going to come for us, and that is a recession as ive talked about early part of this video with peoples interests in a recession, and i think also going into a technical recession, so theres two negative quarters of gdp growth, and that is where youre Going to be seeing the word recession in the mainstream media, so you know big media saying that you know were going into recession, thats going to cause even more fear, but fear really and truly for the retailer investors theyre going to be selling, but the the main Investors, the institutions theyve already sold theyve already priced in their positions. So by the time we get the decisions coming out for the federal reserve, the gdp numbers and also the headlines coming out for a recession. Yes, there may be a bit of a dip on the day of those numbers coming out, but not as much of a downturn as what weve seen before. So i do think we have seen the worst weve seen the worst. I think theres some. You know some price action. We could be seeing potentially 18 000 19 000. That is certainly on the cards um, but i really truly think that at that point, that is where the institutions are going to be buying up a lot of bitcoin and already theyre buying up a lot of bitcoin.
If you look at the whale wallets right now, theyre picking up a lot of bitcoin at the moment, especially with ethereum uh, with bitcoin and many of their old coins, that you see that people have great passion behind. That is where a lot of whales have already picked up a lot of bitcoin, and i mean millions, if not billions, of dollars of bitcoin the people whove been liquidated. That is also part of that as well, but i think at the moment the worst has pretty much happened. We could be seeing the further dip down below, but i think really and truly at this point – uh weve seen the worst. So what were doing right now at the moment is just were dollar cost averaging. That is the main reason. What were doing here at the moment we dollar cost average into our positions when it comes to uh cryptocurrency when it comes to investing in general, because that is where you can accumulate positions over a longer period of time and when it does come a time to See a pump in the markets, you know plus 10 plus 20 plus 100. That is where you take the profits off the table and again, as i go back to the beginning, part of this video when it comes to investing dont over leverage dont over borrow and dont over expose yourself into everything and diversify. Look into other asset classes. That are out there, not just in crypt, so i mean you know, being a crypto guy myself i like to be more so in crypto, so than other things, but again, at the end of the day, im not overexposed to the point where im scared about the Downturn, i mean at the end of the day i see this as an opportunity.
We see this as an opportunity at a busy for the longer period of time, because this too shall pass. There is also a time in the markets where the stock market shall pass and well go through the bull market. Again there have been more bull markets than bear markets. The bull markets have lasted longer than the bear markets, and the price when it goes down goes a lot stronger down than it goes up. So those are things to keep in mind and you got to have – and i keep on saying this – and i have been saying this since the beginning – youve got to have a long term perspective. Crypto is immature, it is young, were getting away from the wild west. Now, because of the regulations coming, but its very young, its been around only for around 13 years, precious metals such as gold silver theyve, been around for thousands of years real estate theyve been around for hundreds of years. The stock market has been around for a few hundred years so again, crypto compared to other asset classes are very young, very immature, and that is super important to have that long term perspective when it comes to it theres many great projects out there. There are some amazon.coms within the crypto space, especially right now. These are the ones wed like to talk about on this channel and i do think theres a lot of good stuff happening for it, but we just have to get through these bad times to weed out the bad stuff.
Thats been happening with people who again have been over leveraged and never exposed build up from there to make this space a really cool space to be a part of, and really show its mark on the world and thats. Where i think things are going, and hopefully ive ive consulted some of the people on on this video and and helped and maybe put in perspective where things are going for crypto, but um yeah, if you havent done so already be sure to subscribe to crypto busy. Today my names been tom: this is crypto busy if you liked the video make sure to leave a like its very much appreciated and do comment down below all of your thoughts and opinions will be very interesting to hear what you guys have to say about them.