Is The Worst Bitcoin Crash EVER Over? 🚨 Crypto BOUNCING 🚨 (Elon Musk BUYING *THIS* CRYPTO NOW)
Metrics were also going to take a look at some of the top news, as well from the doge father himself buying crypto to what we have to pay attention to moving forward and how to think about crypto right now. Now, if you dont mind hitting the like button and subscribe button, i try to bring you content as quickly as possible when it is time sensitive so turn on that bell notification. So you get videos as soon as theyre posted now. Ive talked about this. Just a few days ago, voyager uh was an an exchange. I had the majority of my crypto on or the largest amount of my crypto of all the different exchanges, and i started moving crypto out pretty quickly because what i saw was they could possibly have a large loan out 233 eros capital, which was being liquidated all Over the place – and i felt like they were going to lose a significant amount of cash in a time where their company is really hurting. Now i do want to say it looks like theres some good news on that front. They got a loan from elevator research for 200 million dollars and 15 000 bitcoin. Now they already have supposedly 200 million dollars as well, but it looks like this is probably for liquidity reasons. I dont know if there is a bankrupt people like me that were taking their crypto out of voyager, because right now, even celsius, which is much larger than voyager, is under attack.
Uh is having some issues, i should say with bank runs as well, and they had to freeze withdrawals theres a lot of uncertainty right now. So i i was careful about keeping my crypto on voyager somewhere, where you get interest, and i moved the majority of it over to ftx us now almeida research who gave this this credit facility is tied with ftx us. So you can see that theyre really well funded. They can give out loans like this. They can give out credit lines like this and make money and theyre still growing theyre still hiring. They still have a lot of money, theyve been valued quite high and they have 6 million customers here in the us. There is a link to it underneath the video they are partnering with the channel. I just want to give you this update, because the voyager thing just happened in the last day, and i really feel good about ftx.us with the link underneath the video you get some free crypto as well, when you trade, a hundred dollars or when you deposit, a Hundred dollars, and then you also get some extra trading fee discounts, they have stocks, crypto and nfts on their platform. Uh stocks are coming here soon. Now the fear and greed index is at a six today. That is historically really bad. I mean weve only gotten a five in the past that i can see back in 2019 and weve been at six for two days now: theres a lot of fear in the market.
Obviously – and the thing is a lot – this is just coming from the fact that we get so many liquidations uh, recently weve gone half a billion in the last 24 hours. We have so much thats happening outside of the exchanges as well. We cant even see it with 18 billion dollars of three arrows capital being liquidated, uh or being flushed out of the system right theres, a lot of selling pressure. A lot of people are pushing for celsius to get liquidated too. Now the interesting thing is bitcoin and ethereum are down so much over the last seven days. A lot of the other altcoins are holding up relatively well like theyre down 31 32 percent. Bnb is down 22 cardinals down. 16. salon is down 5. So a lot of these cryptos are actually holding up quite well compared to bitcoin and ethereum, and well take a look at the dominance here in a second. But you can see. Bitcoin went all the way down to about 17 hundred last night, actually yesterday and then popped back up to nineteen thousand five hundred now were right around nineteen thousand two hundred, so we felt pretty significantly when we look at the two hundred week as well. Typically, we only fall to the 200 week for a week or two in the past thats. What weve, seen and now weve been in here for almost a week, and you can see that we have gone about 25 20 below the 200 week moving average, which is pretty typical.
We usually fall down here, come back up and then just kind of rise go sideways for a bit, and this 200 week will continue to move up over time right. This is something that i like to look at when i think about how far weve fallen down. I remember that every day the 200 week moves up at this point right so every day the value of bitcoin is going up, theres, more adoption, theres more long term holding and a lot of this has hurt recently a lot of flushing out of the market. But the value of bitcoin continues to go up, so that might be something to consider now. We can also see that the rsi has fallen dramatically like this is some of the most oversold. This is the second most oversold weve ever seen on the weekly rsi. The only thing thats lower than this is 2011 on this chart thats. As far back as it goes on this chart, and you know: 20 uh, 2014. 2015. 2017. 2018. We havent seen rxis like this weve seen close, but this is the worst i mean when you look at the weekly weve just had about 13 weekly red candles, with the exception of one slightly green candle. That then fell right back down, so weve been very oversold going from 48 000 down to 17 600., obviously theres a lot of pain in the market, and we are quite uh oversold. You can also see the bitcoin dominance coming down a bit here.
We were racing up, we got up to about 48 49 and then over the last week, its actually come down a significant amount and i think thats, due to all the liquidations, all the flushing out of the market and people really trying to hunt or whales really Trying to hunt for that liquidation of celsius as well. Now we did get some news from elon musk. He says i will keep supporting dogecoin altcoin gordon says: keep buying it then, and he says i am so hes, obviously buying uh dogecoin. He said in the past that dogecoin was a very small position for him now whats a small position for uh the richest person in the world i dont know maybe 10 million, maybe its a hundred thousand im, not exactly sure, but that makes me believe that hes, Probably buying other cryptos as well, unless hes just doing this of the goodness of his heart, because he supported dogecoin in the past. I would think youd also be buying bitcoin, maybe a theorem as well, because he has said that those are three different positions in his portfolio. We can also see the president of el salvador says that some people are worried or anxious about the bitcoin market price. His advice is to stop looking at the graph and enjoy life. If you invest in bitcoin, your investment is safe and its value will immensely grow over the bear market. Patience is key. I think thats a good point, its important to take a step away.
Thats. Why? I said you know: happy fathers day enjoy time with family and friends its summertime here in the us, so its a nice time to be out and about you can also see that over time, bitcoin becomes more and more valuable. I think this is kind of an interesting chart, basically giving some different emotions, its a fire sale down here at this level that were at now, if were a little bit higher, you should still be buying. You should still be accumulating higher than that. Its still cheap higher than that huddle is this. A bubble is, after that fomo intensifies sell seriously. You should sell when were up over if were over a hundred thousand now and then maximum bubble territory. So remember, bitcoin continues to go up over time. You can also see bitcoin the lows each year and i think this is another thing: thats really nice to look at the lows each year, four dollars in 2012, 65, so a 15 16 x 2013, another 3x in 2014, slightly lower in 2015, uh double in 2016. Double in 2017, 4x in 2018 and then about the same in 2019, a little bit higher in 2020 about a 7x or 6x again in 2021, and then we fell down a little bit the next year. Now this has been the biggest, i think, the biggest drop, at least since 2012 on the one year lows. So last year we were on twenty eight thousand seven hundred now, nineteen thousand uh, actually seventy thousand six hundred so about a thirty three percent drop from the highs.
So that might be another indicator that you wan na. Take a look at that. Typically, we havent seen this type of drop off in a low year over year. Now i want to hear your thoughts on this underneath the video overall cryptocurrency is doing a little bit of a balance. I think you know its really going to depend on the macro where we go from here. I would not be surprised if we fell a little bit lower just over the next week or two. Typically, we dont stay below the 200 week for more than a couple weeks, but with so much wrong on the macro. It wouldnt surprise me if we changed a course here and change history a bit as we saw for the first time we broke underneath the previous high. So we are making history here thats because there is so much going on in the macro. Let me know your thoughts on this underneath the video, though im going to continue stacking i bought more. Yesterday, i bought more the day before and the day before, so im happy to be buying at these levels. I know its scary, but typically thats the best time to buy. Thank you so much.