BITCOIN CRASHES BELOW $20K & RIPPLE XRP METAVERSE [CRYPTO NEWS]
When will the bottom be in? I wan na talk about the market cycles as well as what im doing within this time frame. In addition, ripple made a huge investment into a metaverse company where the native asset will be xrp and the metaverse will be running on the xrp ledger. This is pretty big and also we have huge updates around a crypto hedge fund that is about to make some big investments despite the market downturn, lets break it down. Music, welcome back to the thinking, crypto podcast, your home for cryptocurrency news and interviews. If youre new here, please hit that subscribe button as well as a thumbs up button and leave a comment below if youre listening on a podcast platform, please give me a five star rating quick word from our sponsor, and that is linked to which makes private equity Investment, easy linked to is democratizing the process of being able to invest into different crypto companies and tech companies. Previously you had to be part of a vc venture capital firm or a hedge fund, or a massive investment firm. But now you have the opportunity to double dip, just like the institutional players. They are buying the tokens which many of you hold and also investing in the companies building the infrastructure of the crypto market. So, for example, some of the crypto companies they have in their portfolio are ripple, bitpay, dapper labs, uphold, eight um, excuse me abra and many more and they continue to expand their portfolio.
So this is a great opportunity to once again make money on both sides and obviously with the market downturns that were seeing in the stock market, crypto and so forth. Valuations are coming down a bit: um, certainly coming down a bit, so the equity shares and so forth are going to be more affordable now. So you definitely want to check this out guys its a great opportunity once again youre buying the bottoms here, as things are bloody out there and thats when you want to be greedy when theres blood on the streets, so certainly a great opportunity – and this is for Accredited investors, so, if youd like to learn more visit, the link in the description now lets look at the market here. Bitcoin uh did drop below twenty thousand today went below eighteen thousand dollars right now, its sitting just above nineteen thousand dollars. So how low will we go guys? Well, um. I think the bottom might be in uh pretty soon im. I cant call a specific number, but i dont look at it. I look at it as a specific number, but rather a zone. What zone are we in? We are in a buy zone. We are near the bottom right if you want to call it a bottom zone, because no one can call the bottom or the top weve seen that time and time again, doesnt matter who makes a price prediction, no one can accurately call it, because we dont know What the future holds and obviously theres macroeconomic factors happening right now, with the fed interest rates, inflation that are affecting all markets.
So what am i personally doing? I am buying im buying bitcoin ethereum and some other all coins, and this is based on my own research. I am not telling you to go, buy or invest. This is not financial or investment advice, but in the transparency of how i built this podcast and channel, i think its important for you to know what im doing and ive often shared. You know hey im. Looking to take profits here, im buying here and so forth, so please dont go buy because im buying, but rather do your research look at the market cycles, because knowledge is power. When you understand these things um it will help. You make confident decisions and im confident in what im doing, even if bitcoin drops another four grand or five grand thats, not gon na bother me because i know im buying a bottom zone right thats, how i look at it thats how i bought historically and what Has made me money so certainly its bloody out there, its brutal people are afraid, but its all market cycles and yes, its moving a little bit faster than expected because of the macroeconomic factors but guys i ive been through the 2017 crash and then the 2018 2019 Bear market and ive seen some big crashes, even the covet crash march 2020. That was pretty brutal right. I think that one had me a bit scared because it wasnt so much the fed or interest rates or something it was a pandemic.
It was like things outside of our control. It was a global pandemic. So at that point i was like oh boy should i be buying. I was. I was a little bit rattled here, im, not rattled, because i know hey. We had this huge run up and we are correcting markets. Dont go up in a straight line and we will bottom out and move sideways and then start moving back up again. But patience is the key. So i wanted to share the following from the this analyst, who put out a great chart showing uh, bitcoins and bottoms, and then the bull tops and so forth. So the bottom is around the corner. He says he says: 100 moving, average cross up the 20 moving average bottom was extremely close. It happened two times in bitcoins history. It just happened again, plus the rsi level is below 30. uh prices in the reload zone, 61.8 percent to 78.6 zone of interest for professional. So this is what im talking about zones right guys? No one can call the bottom, but we are in a bottom zone where, as warren buffett says be greedy, when others are fearful and fearful when others are greedy right, so certainly a great opportunity to get in the market, but once again not financial advice. You need to go read these charts yourself. You need to go, look at different models and how the market has played out historically and come to your own conclusions.
Now uh some perspective here, you know documenting bitcoin, the twitter handle highlighted how the media and people enduring these bottoms get so scared and then theres a lot of sensationalism and they always call for bitcoin being dead at the bottom. And then you know at the top. Its in a bubble and then when it goes down its dead and when it goes back and up its in a bubble, so the fud always continues. But you cant pay attention to emotions or feelings or sensationalism or headlines. You have to look at data, so in 2011, bitcoin fell below 20 in 2015, bitcoin fell below 200 in 2017, bitcoin fell below two thousand dollars in 2022, bitcoin fell below 20 000, so um its just market cycles guys and were building higher highs and higher lows And thats what you have to pay attention to now: heres a great chart showing all the tops of bitcoins and all the bottoms and the narrative once again, the top its a bubble, the bottom its dead. It goes back up its a bubble in the when it goes down its dead right. This is why you cant look at the nays areas of the headlines, but rather the data. The data does not lie now, uh. Some other great perspective here from sven henrich whos, a great uh trader, often on cnbc and so forth. He tweeted out the following chart with no contacts right. He put here. This is the biggest scam ever.
Oh, my god, omg its dropped nearly 90. Then, when you go further into his tweet, he says oh wait that was amazon in 2000, 2001. ive often shared this example. In 2000, when the dot com bubble burst, everything went down, man and even amazon. One of the biggest and most successful companies in the world went down like 90 percent. It was brutal and guess what there was a bunch of other great uh. Excuse me: internet companies, those that were part of that googles and ebays and so forth. Right, but we know how the story ends here, for these cr stocks right for these tech company stocks, so patience is a key um. Do i think you have to wait 10 years to see a return on your crypto, of course, not weve. Seen the four year cycles play out for bitcoin uh, with the bitcoin having and the capital coming in and the scarcity aspect, and then the capital flows, all coins and weve seen our run ups right guys so uh the data does not lie it, doesnt matter. What anybody says, if you go, look at the data youll see what im talking about now, uh something i tweeted out today and i think its another way, uh to think about investing and how wealth is actually built. Wealth is not built from you putting cash into your savings account and leaving it there its investing in assets not just crypto, not just stocks, not just real estate.
Obviously you can have a 401k and so forth, but we know inflation is a hidden tax rate. That is what kills a lot of peoples savings and diminishes their purchasing power, and many are not were aware of this. But if youre investing in assets, you have the ability to grow your wealth and yes, theres market cycles and yes, theres risk. Of course, right. Theres risk with any investments, but certainly if you study – and you educate yourself about the cycles you can enter in the right time, which is the lows and then be patient and let the price go up. Thats true for stocks, real estate, crypto and so on and so forth. So i tweeted out im worried about inflation. Im more worried about inflation than i am crypto prices, crypto and other asset prices will eventually recover and set new highs. Weve seen it look at what happened at the the dot com bubble pop right, it went down. Stock prices went back up eventually, 2008 crash real estate, man just demolished. What happened? Did that end real estate? Of course not. It went back up same thing with the stock market went back up right, guys, um and just two years ago the cobit crash everything in the stock market and crypto, and everything went down. What happened. Bitcoin then proceeded to go on a massive bull run. All the way up to 64 000 within two years right, so i i said here: uh inflation will slow down but continue to increase year over year, weve seen inflation continue.
This is just how the system has been built, that debt system right and it will strip your cash savings of purchasing power. So i think many of you know about this now, just i think this is important for the new people to understand and its not just about crypto theres. This is also about stocks and real estate, and uh ive tried to cover some of that with um greg greg dickerson, who i often have on the channel. So i hope you guys understand um that despite assets going down right now, theyre a safer bet than just hoarding cash in a savings account that doesnt give you anything and then inflation is debasing it year over year, so uh. Something to think about now. Lets talk about some ripple xrp news um, the folks at ripple x, tweeted out, were partnering with fluffworld to bring the open metaverse to life, enabling metaverse projects to mint nfts and buy slash, sell, slash trade in network tokens on the root network, which will be built On the xrp ledger, with xrp as a native asset, this is big ive, been in a research mode looking for metaverse projects to take a position in because i do believe the metaverse is here to stay. Nfts are here to stay. The question is, which ones will do well right and thats, why i havent taken a position on any nfts or metaverse, because im like i want to see where this is going.
I want to see what the angles are and i want to see you know whats going to have network adoption and even real world adoption right. Nft technology maybe being used in sports in certain ways so im still exploring, and this is pretty cool im going to investigate this im, going to talk to the folks at ripple about it and see if theres an opportunity to invest here. And i will certainly let you guys know if i add anything related to my portfolio, so the folks at uh fluff they tweeted out today. Fluffworld is excited to announce an unprecedented partnership with ripple to bring the open metabours to life via the root network. Here is how and the xrp ledger will open a world of possibility for our blockchain and communities. They said the root network is the heart of the future verse um yeah, the future for excuse me infrastructure, said to give creators access to seamless smart contract functionality and application building, while natively supporting asset bridges to the ethereum network. To continue here, saying, partnering, with ripple on the root network, brings exciting possibilities to our communities, extending the utility of xrp as the default gas token, while unlocking the xrp ledgers, global infrastructure for root network developers and users. So xrp obviously is going to be used here. Guys and not only you know, with the token being used, but even if the token wasnt used, if it was being built on the xrp ledger, thats network adoption, which drives network value and that value of course, trickles down to the native asset, which is xrp.
So, for nearly 10 years, the xrp ledger has served as the best in class network for settlement and liquidity for tokenized assets. This part partnership connects the root network to one of the largest web3 communities and provides the xrp community with access to nfts across our ecosystem worldwide partnerships with visionary leaders and businesses that believe in secure and open digital in a secure and open digital future essential to The root network and its continued evolution joining forces with ripple is another proud milestone in this shared journey. They said here now we build old, um, so kind of like huddle. They they put the l at the end right. Ripples, commitment of invaluable resources and expertise will accelerate the next phase of the root networks, growth and development. We look forward to sharing updates with you along the way um and then they provide for preparation provided links to uh white paper and more details, and they actually did a full press release here. So this is pretty big guys ripple looking to get into the metaverse space and obviously theyve been doing a lot on the nft space and xrp is going to be a big part of that so ill. Try to get an interview with these folks to learn what theyre doing and once again, if i see theres an opportunity to take a position ill. Certainly let you guys know now i wanted to share the following. This is certainly an institutional player and uh.
They are doubling down on crypto, so jump or jump. Crypto is an investment firm, and here the um, i think, is the founder. The president excuse me tweeted out, were hunkering down and getting to work as we have over the last six years in this space builders. Please reach out if we can be helpful and they got featured in bloomberg. So once again, this is happening when things are not looking great. Obviously right, heres the headline as the crypto winter hits its peers chicago trading. Firm jump is ready for more bets, uh chicago firm, leans in despite setbacks, with wormhole, tara, luna and so forth. Now bloomberg wants me to pay to read this article, which really sucks, but i just want to highlight guys and – and you know, the coverage just is getting obviously in bloomberg, its not a crypto blog specifically, and these folks are doubling down the institutional players right. Those who have long term views and are looking to build and theyre not worried so much about the price, because they know the price will come back up. They just continue to make bets guys and these folks continue to raise money. So its important to understand whats happening with the institutional money, theyre not running away. Are there certain hedge funds that are having problems right like three hour capitals and some some of these folks, of course, but they theyre the ones who took you know. Maybe some of the more risky bets and and uh didnt do things right, but there are obviously other hedge funds out there who are doing well.
Uh. We saw anthony scaramucci his hedge fund skybridge. They were in buying the dip uh uh barry silbert of grayscale tweeted out they are buying as well, so guys thats, whats happening. Uh looks like bitcoin lets. Just look at the price right now, because its been moving uh looks like its back over 19.. Its just hovering below 19 and above 19. lets see where this goes guys um. Hopefully it doesnt go below 17, but it could. It could right im open to the possibility, but i ive been through this. I i know this is just a dip. Well, i shouldnt say a dip, but the bear market and the lows and im scoop up as much as i can and then uh continue to dca dollar cost average in overtime and wait for the market to roll back up and uh. Take profits. Of course, always remember to take profits its times like these, that you look at the charts in like man uh i i should have took profits right. I learned that lesson so uh and i even this time around i was waiting for certain prices, but i did take some profits last last year, so its not like i didnt, take anything off the table. Did i take as much as i would i wanted to? No thats, okay, im still a long term investor. I still im still up uh im still um. I still took some profits and made some money so uh thats.
You know my scenario, i dont know what you know. You guys scenario are or is uh. You know. I im, of course diversified. So if certain coins dont do well im making money off of others so thats how i approach it thats how ive made money and um certainly uh. We want this situation to wrap up soon as possible, but well have to be patient and and well wait to see when the fed reverses and uh things start moving back up anyway, guys. Let me know what you think: leave your thoughts and comments below hit the thumbs up.