So we are seeing some green today and we are of course going to be going over all of the news that you need to know to find out exactly why this is happening where i think were going next and everything that you need to know to be Fully up to date in the world of crypto, with that said, if you dont know me already, my name is connor and i am not, i repeat, not a financial advisor im, just a guy sitting in a room here in australia talking about cryptocurrency. So if you like that sort of thing smash up the like button hit, the subscribe button grab your coffee and lets get into todays video. So first of all of course, come over and join me on twitter. I am doing my daily giveaways to help you guys buy the dip if thats, something that you fancy doing and i do give very constant updates over on twitter much faster than i can here on youtube. So, first of all, i wanted to read this tweet by benjamin cohen. This bitcoin bear market is a great example of showing how institutions can lose money. This is an interesting point because i know that its hard to look at all of the losses that weve made recently. Of course, ive lost a bunch of money. Im sure you guys have also lost a bunch of money, but nobody timed this perfectly. Yes, we could have taken more profits at the top im very happy with the amount that i took, but i could have again taken more profits from the top, but even the biggest people in this game also lost money.

So do not beat yourself up too much. You did what you could have done with the cards that you were dealt now from this. We can grow and we can learn we can rebuild and then, when the market comes back, which i think is inevitable, we can do even better that time round. So dont beat yourself up too much and lets head to the crypto bubbles. Today, look at that we got green across the board. Why is this happening? Maybe its because elon musk tweeted yesterday saying hes gon na buy the dogecoin dip, but hopefully thats not really the reason. What i think is happening right now is simply a relief rally from this down down down that weve had this is very normal for crypto and any market. Really, if we head over to the daily chart, you can see that we have just been absolutely obliterated over the last few days, even weeks, this being here normally a continuation pattern which we did sadly break down from and its just been very much down. Weve almost had no relief since even around these points, right theres, a small bit of relief. Here we got. You know that wick, but lets not count that we got around a 16 move. But apart from that, no real relief rally and whats happening now is potentially just relief. We have been rejected again right there at the 20 500 mark were gon na, have to wait to see what happens with that, but i do think that there is a chance for us to have a nice little relief rally.

First of all, we would want to break past this 28 to 29 000 mark to really feel like were getting anywhere until then, im gon na stay very much quite bearish in this market. Like ive been saying, i would expect if we head over to the weekly chart, i would expect here that there isnt much resistance kind of at all or support, in fact, until we get down to around this 14 000 mark so very lightly. In my opinion that we head down there, i think right now its very much a wales game institutions going after each other big whales, trying to get people liquidated celsius. All of these are institutions that are over leveraged theyre running for the hills and trying to escape these liquidations that are coming the more liquidations that come, the more bearish the market seems now when the market is over, all bearish, and we see so many people talking About shorts, i think thats quite worrying right. We are having pretty much down here exactly what we had here, but the exact opposite. What were having here is people coming in who are new to trading and being adamant. That shorting is the right thing to do and you can become a millionaire shorting. Every second tweet on twitter is talking about shorting, and that is very much the same as whats happening up here right. Every second tweet is about buying every single coin. So what id be very careful with right now very, very careful its shorting with too much leverage if youre new to trading, and you dont really understand how easy it is to get liquidated and lose your entire bag when it comes to leverage.

This is where people are gon na get wrecked right. A lot of people actually got wrecked. Yesterday, 320 million dollars worth of liquidations right there. If you start a short here and we do see a relief rally, then youll get liquidate thats pretty much it if theres a big move upwards, youre gon na get liquidated so thats. Why you need to trade with specific styles? You need to learn what youre doing and thats what you have the time to do in this market and do remember that people can see where these liquidation points are and if theres a lot of liquidations. At a certain point, people will manipulate the market in order to get your coin, so keep that in mind with that said, just before we jump further into this video, i want to introduce you guys to todays channel sponsor, and that is virtue paris. Now they are releasing an nft for their 22nd anniversary, and this nft will be launching on the binance nft launch pad on june 20th, and they are a company that have been around since the early 2000s virtue has a customer base of over 300 000 ultra high Net worth individuals and the brands goal is to bridge the two communities web 2 and web 3 to create virtues 3.0 club, a version of the business club where members will be able to attend physical events or in the metaverse. Now lets move on to the nfcs themselves.

The virtue constellation xulm is the first series of phones and connected devices to be released, which will provide individuals with total privacy and secure communication, whilst being able to take advantage of all the benefits of the connected world. In an uncompromised manner, the original phone nft will not only confirm the authenticity of this timeless 22nd anniversary phone, but will also enable the owner, through a second nft airdrop, to access the series of virtual services, including the famed virtual concierge service. So so far, this nft gives you access to a limited edition phone and their free concierge service for three years, and it doesnt stop there. Their airdrops will continue with their variant nft. Each of the 10 555 nfts will also receive four spheres containing various back plate variants. In the case, a holder chooses to forego his nft as a digital asset and to receive his physical unit. Hell then have to choose among the contents of one of these four spheres to launch the production of his device, so therell be different spheres and each of these spheres have different rarities. So, whichever one you get directly correlates with the phone that youre gon na get so this is a very interesting concept, but it doesnt stop. There therell be one last nft that will be airdropped known as their reward nft, and this is part of the virtual 22nd birthday celebrations and will be the reward nft known as the award spheres. Each of the nfts minted will receive one award sphere from the 10 500 awards fears.

There will be 134 winners, who will each have the chance to win an nft raffle award either twenty thousand fifty thousand or a hundred thousand dollars in bnb. Now, as well as the cash prizes, there will also be a grand prize. The grand prize consists of winning four bentleys. Now the price of these nfts are set to be 5 175, which may seem very high, but lets remember that there are only 10 555 editions of this phone and the recommended retail price of this phone is three times higher and we can see on the virtual Website that they have phones that are twenty thousand thirty, four thousand sixty eight thousand dollars and above and this will give you access to the concierge service for three years, which is worth several thousand euros per year. So a very exciting opportunity and as we can see here, the pre sale round ended on the 10th of june. But, like i said at the start of the video, they are having their public sale on the binance nft launch pad on june 20.. So if you do want to find out more about this opportunity, the links are down there in my description and lets jump straight back into this video now heading over to the crypto green and fear index. We are at a nine today, so things are getting a little bit better from yesterday, but still very, very scared in the market anyway. So lets move on to some news.

Today we have mad monies. Jim cramer expects bitcoin to fall to 12 000. This is definitely a possibility. Put this into your game plan, decide whether or not that dollar cost averaging around these prices is good for you. If its not you can wait for me. I dont think i can time the bot i dont think like jim right here. I can say that bitcoin is definitely going to 14k or definitely going to 12 or whatever. I have no idea. So what im doing dollar cost averaging slowly over time when we see big red candles im putting a little bit more in and then just continuing to dollar cost average thats, my personal style dont copy me all right, bank of jamaica governor, says cryptocurrency not sufficiently stable To be a good means of payment, i actually kind of agree with that. I dont think its a good means of payment. I think bitcoin is a good store of value. I think other coins have utility behind them, but as a means of payment. I think that stable coins could be the idea for that and central governed digital currencies as well, but bitcoin and things store a value in my eyes. Moving on, we have d5 protocols, abracadabra stablecoin, mim, briefly slides to 91 cents. This is interesting could be an option to look into for shorting right im. Staying away from any of these sorts of stable coins, algorithmic stable coins d5 right now i am completely out of d5.

I have most of my money even on centralized exchanges that i personally trust or my crypto ledger right: thats, it cold storage, waiting for this winter to pass thats how im keeping myself safe now moving on. We have another little bit of information. A class action lawsuit accuses terraform labs of misleading investors. So, interestingly, this group of plaintiffs accused terraform labs of repeatedly touting the stability of ust. Now we have anchor over here. This is anchor protocol and i actually tend to agree if youre new to crypto – and you see something like this – where its literally comparing anchor to a bank. I think that its very easy to be led down the path of this being as safe as a bank. Of course, i was burnt very badly by ust, but i only have myself to blame for being essentially arrogant in the amount of money that i kept there. But if there were new investors, i understand why these people feel very jibbed, essentially by this moving on to a little bit of good news. But who knows if this is really good news? Elon musk says hes buying the crypto dip, so he did speak about dogecoin. Recently on twitter – and i do really hope – thats not the reason why the market is pumping today, but it could have been a little bit of spark to ignite this small little fire that were having. But i kind of do wish that elon would just stay out of things.

I want him to stay out of things, but i do, however, think that dogecoin, still, like i was saying a few weeks ago, is an is, is a good risk to reward to have in my long term portfolio? I have some in it and i will continue to dollar cost average into that, along with bitcoin and ethereum, but mainly bitcoin. Bitcoin is mainly my thing that im dollar cost averaging into right now because, as i said from the very start, my goal was always to accumulate as much bitcoin as possible and thats. What im still trying to do here? We also have elon musk, hinting that twitter will integrate crypto payments if his bid to take over twitter actually goes through. Who knows if thats going to go through or hes just playing with peoples, emotions and their money thats something were going to have to wait to see and, lastly, we do have. The nft market suffers in crypto crash sales, dropped by 150 percent, but theyre not dropping enough. I want board 8 yacht club crypto punks and any of these other blue chip nfts to drop significantly. So i can be part of the club right. I want to be part of this club, and this is just testament right – a board 8 yacht club even right now, when bitcoin is only twenty thousand dollars. A poor date is 90 ethereum, a crypto punk, 66 ethereum mutant 816, other side deed. Two weve got moon birds at just under 20.

, so these are holding up significantly and thats the importance of finding things you believe in obviously the people who hold these still believe in the projects themselves. They havent come down in price too much since the very top. Nothing like some of these other cryptos have so interesting stuff there. If i did provide you with some value today, i do hope that you smash the like button hit the subscribe button. If you do want to check out virtue again, the links are down there.