Massive Crypto Rally! Could The Crash Be Over? (Cardano, Solana, VeChain, And Bitcoin News!)
Today we are taking a look at the crypto market and the stock market, so much news, and also quite the rally here today. I want to talk about that and over the last few days i made a video. I think, on the day that we hit bottom saying this could be bottoming going through some of the metrics and so far weve had a lot of good news. A lot of positive price action as well now theres still a lot of things looming on the horizon. That could go poorly, but today is a great day, and i want to go through that cover some of the top news from cardano solana v chain bitcoin. Taking a look at the overall crypto market as well and some big adoption coming so if you dont mind hitting the like button and subscribe button, i appreciate that i try to bring you the content as quickly as possible when it is time sensitive, also, theres. A link down there to the patreon there i tell you exactly what im buying and selling – and i give updates every single day on whats happening in the market, so definitely check that out. Theres also a link down there to block fi ill talk more about some block, fine news in a bit, but you can get up to a 250 dollar bonus there. Now the cryptocurrency market is up 3.3, surprising thats only up 3.3, because bitcoin and ethereum are up 5 themselves.
A lot of other cryptocurrencies are up even more than that, like salon and dogecoin. Now, the stock market is also up kind of a rally. After we saw such a bad week last week, you can see the nasdaq up about three percent. We also have stocks like tesla, and a lot of the evs are up 10 to 20 teslas up 11 theyre, my largest holding uh besides well, including bitcoin, its a larger position. Now that bitcoins falling down so much but bitcoins up five percent. These are just my four top holdings here, googles up, five percent and amazons up 2.6 percent, even as a retailer, and those have been hit hard now. This is one of this has been one of the worst years ever in stock market history. S p 500 is down 22.9 percent in the first 116 trading days of 2022.. You can see the only time worse in this is 1932 kind of show. The price returns throughout the rest of the year, its kind of across the board different each year, but you can see that this has been one of the worst years ever now. The now the price of bitcoin is still significantly under the 200 week were about 1200 dollars or so away from that 200 week. Hopefully, we can flip that back into support. That would be very similar to what weve done in the past, where we were below for between one to two weeks, then flipped right back above and then just sat in an accumulation zone for a while.
You can also see the rolling liquidations about 170 million dollars. Liquidated in crypto over the last 24 hours a lot on the short side. Now i just want to give you that information, because it shows that the price action hasnt been too crazy over the last 20 uh 24 hours, or so with a lot of people not really being forced out of positions. We saw a massive liquidation cascade last week, especially going into the weekend and with a lot of institutional players being liquidated. Now, its a little bit calmer, now alex becker made a really good point. I want to cover before we go get into some of the news. Uh here, but a lot of people arent factoring in the fact that theres been so much money printed. He talks about how a stock going from 100 to 200 isnt actually gaining value. If we doubled the money right, everything else eventually will gain uh twice the valuation. As well so he says the market isnt as up as we think it is. If one hundred dollars to two hundred dollars is actually the same price, expecting a total retrace to 100, which is 50 without inflation, is a bit overly bearish. It goes through how uh eleven hundred dollar eat in 2017 is closer to possibly a two thousand dollar each now, so its crashed way more than it did four years ago same thing with bitcoin right. If we hit 17 000 and we have double the amount of uh money out there, actually we had 18 000.
That would be the equivalent of hitting nine thousand in twenty seventeen dollars. Therefore, a lot of people are overestimating. Where will crash two. A lot of people are saying: ten thousand to twelve thousand fourteen thousand. A lot of people are waiting until those numbers to accumulate heavy. Now i have heard a handful of people saying that they knew something or that they had gone to consensus, heard some troubling things and they think we are going to crash lower. Now. These are other youtubers im, not sure exactly why they would say that unless there was some real reason for it, but even if there is some real reason for it, you never know whats going to happen. I have been accumulating myself and i think these are pretty good numbers to be buying right were still under the 200 week on bitcoin, which is historic, uh and doesnt happen. Very often, it has typically been a great time to buy and a lot of other stocks are down pretty significantly as well. Now we have the digital asset funds flow weekly report ill just cover this really quickly. This shows exactly what these large institutions are doing. You can see money is still flowing into bitcoin flowing out of ethereum uh shorting bitcoin, and then you can see some of the other ones here as well: money coming up, polka, dot, cardano, tron, etc. Now uh. That just shows that theres still a flight to safety, and it is really regional as well 274 million dollars coming out of a european fund so kind of interesting to see how that goes.
Now, deloitte and nydig are setting up an alliance to help businesses adopt bitcoin. So deloitte, obviously one of the major four accounting firms they partnered up with nydig to help companies of all sizes implement digital assets. Now this is something that i thought was quite quite interesting. I didnt know how much these different top four accounting firms had gone into. Crypto until i really looked into it, ill show you that here in a second, but they had found recently in a survey that 75 of retailers in the us plan to accept crypto or stablecoin within two years. They also had a study in march that highlighted the potential of bitcoin as a base to create a cheaper and faster ecosystem for electronic fiat or central bank digital currencies. This sounds similar to what stripe is trying to do and what they announced at bitcoin uh the bitcoin conference, when digging into this a little bit deeper. I didnt realize that so many of these accounting firms have been focusing on this for years. This is from five years ago, two of the major four accounting firms now accept bitcoin, so we know pricewaterhousecooper deloitte and also we have another company kpmg that have all gone into crypto in the last couple years and up to five years ago. Now, moving on from that, i think thats great for adoption just because these companies work with so many other companies right theyre, going to be able to help them get into crypto in a in a solid regulatory way.
We do have to move on, though, from that to some of the top news with vechain, cardano and solana. V chain is excited to share vip 220 is live on the private test net, a huge milestone towards our revolutionary poa 2.0 consensus consensus mechanism upgrade now. This is big. This is the test net for their new 2.0 vip introduces finality combining the strengths of the common consensus types while eliminating weaknesses. So this is a good step in the right direction for v chain i used to hold v chain. I sold it off right before everything really dropped and put it into bitcoin. You can see that theyve had some pretty rough price action over the last couple months: theyre down to two cents, theyre up to 17 or so last fall. But this is good that theyre, still theyre still building and still getting closer to where they want to go moving forward and into the next bull run fact is. They are still a great large crypto theyre still in the top 50 theyre, still a good quality crypto. That has a lot of news coming out all the time. For example, they just teamed up with the ufc and had a 100 million dollar strategic deal, so they are spending money on marketing. They also have some news that they are seeking european expansion with new headquarters. Now, like i said, im not buying right now. If we fall further and further into this bear market, i wouldnt mind picking up some v chain, but i will probably be more focused on other cryptocurrencies, but they are announcing a lot recently.
Then some bad news for cardano. We have cardano developers delaying the vassal upgrade citing bugs, so they didnt end up releasing the vassal hard fork on the test net because of too many bugs theyre pushing back now for a late june release on the test network, now uh thats, pretty par for the Course, a lot of these different cryptos do push these back and, as you can see, it, hasnt really affected cardanos price movement too much over the last 24 hours, theyre still up about 2.3 percent and then a little update on solana. I covered this yesterday. Talking about the salen protocol and what they were trying to do to manipulate a whales wallet now theyre now in contact with the whale and theyre working on a solution that doesnt include taking over his wallet and slowly liquidating his funds. So i think that is a step in the right direction, just for solid in general, and the whale has already started to move funds so theyre going to move the liquidity across multiple lenders. I think this will be good. It alleviates some of the price volatility from solana and solana is up on this news and just up in general theyve actually had a really good. Last seven days now i sold half of my solana yesterday, like i said, i dont regret this because honestly, i missed out on about a three or four percent move on solana, and that was because i put it into bitcoin anyway.
So ive had a great return on bitcoin over the last 24 hours as well, and this still just takes some of the potential downside away in case we do go back to the downside. The fact is that solana probably will go down more than bitcoin bitcoin still in the last seven days down about five percent, while salon is up 36, so theres still about 40 percent difference on the last seven days, so i dont mind uh moving a little bit Of my solana over to bitcoin in the short term, i still like salon a long term, which is not why i held half, and i will look at moving that back in. If we go a little bit deeper into the bear market or if its much more obvious, that we come out of the bear market, so overall pretty good day overall in crypto, we have a lot of price rebounds. Now we did get some news from blockfy as well, just like voyager, they signed a term sheet with ftx to secure a 250 million dollar revolving credit facility, providing them with access with access to capital that further bolsters their balance sheet and platform strength. Theyre intended to be contractually subordinate to all client balances across all account types and will be used as needed. This is just to help them with market volatility. Now i am a partner of block fire block vice a partner of mine, and i think this is good news just to protect everyones funds, its not exactly what you want to see that these kinds of companies need this.
But the fact is, this does stop them from being in trouble with clients trying to redeem funds and stuff like that and thats. Why i have kept my funds over still on block fi now block fi is a lot less aggressive with some of their rates that they give you so ive always thought that it was a little bit safer to go with block by, as opposed to some other Kinds of exchanges theyre not offering 12 or anything like that on usdc, and they also are working with the government now to try to work to some agreement on how to get these interest accounts back up and running, which obviously theres more risk in that now. In a bear market than there is in a bull market, but hopefully they can come through with some solution by the time that the market starts turning around and hopefully theres less risk in it as well. Now, like i said, the whole market has turned around a decent amount. Today, thats good news im happy that everyone can take a little bit of a breather now dont get me wrong. There could be further downside, but we are at historic levels. This has been the worst year, uh second worst year, ever for the s p 500, this far into the year and the crypto market has obviously fallen too and, as i said right, this has been even worse from the fact that we have had so much money Pumped into the system that to see us go down to old levels is really really saying something right.
A lot of people are sitting on cash and a lot of liquidity, or a lot of leverage, i should say, has been flushed out of the system. Now. Let me know your thoughts on this underneath the video, let me know what altcoins youre most most interested in or if youre just buying bitcoin. Let me know if youre buying stocks too. Thank you so much.