Crypto Crash | The Warning You Need to Know
You guys know the deal you know were talking about today. The crypto crash, the crypto market, is in shambles its been like this for a little bit over a week, now im going to talk all about it in todays video and pretty much give you my warning is this: my final warning i dont know ill probably continue To make crypto videos but for sure its a solid warning that you all need to know about here we go lets jump right into the video lets, go Music well before we dive in. If you guys dont know, i make personal finance content here on youtube. So, if youre interested in stuff like that stuff, like saving your money, investing your money, budgeting, credit credit cards, crypto, of course, its all covered right here on dollar – might so make sure you hit that like button. If you like this video and other videos and also make sure you hit that subscribe button, if you want to see more content like it now lets not waste any more time, lets jump right into the content. You guys know the deal and of course, over the past week, the crypto market has lost over 400 billion dollars, yes billion with a b. The crypto market has lost over 400 billion dollars, 400 billion dollars in one single week and just for context, if you dont know how much 400 billion dollars is because thats not something the human can really wrap their mind around, and i surely cant.
If you look at a company like visa, you know the payment processing company theyre worth about 400 billion dollars, or you can look at a company like nvidia, where they make a whole bunch of different computer chips and stuff, like that. They are also worth 400 billion dollars, so thats essentially like saying either one of those companies are completely wiped off the face of the earth in the matter of one single week as if they didnt happen anymore, as if they went bankrupt, thats insane. To think about and thats just a little bit of context for you to break it down to a smaller scale to a more of an understandable scale. The price of bitcoin right now is hovering around twenty thousand dollars, and it dipped down to about seventeen thousand dollars before that glimmer of hope hit us and it rise back up from the occasion from seventeen 000 back up to around 20 21 000 were sitting at Right now, on top of that, ethereum is sitting around one thousand dollars per aetherium and bmb is down to about 200 dollars per bnb, crazy, stuff, thats insane to think about, but nothing too crazy for the crypto space. I mean if youve been in this space for a year or two years or even longer than that now, then you know that these drops 50 60 70 drops are actually pretty normal, which is still insane to think about, but regardless yeah but overall im making this Video for you guys, im making this video for the beginner crypto investor im, making this video for people that have been invested into crypto and just are interested in the crypto topic and need to know more about it or just need this fair warning that they put.
That i, that other people put out and that i put out every now and then when i make these crypto videos, because its just something to remember its something to note. If youre going to be investing your money into cryptocurrency. As my returning subscribers already know, ive been buying crypto for a couple of years now, and i can most likely continue to buy crypto for years going forward and you guys can check out my full crypto portfolio itll, be linked right up there and im consistently buying Those yes, even at times like this – and this is actually one of the best times to buy crypto, just like its one of the best times to buy stocks as well. But crypto is a little different and thats. Why im here making this video yet again? So with all that being said, this is yet again your warning. I mentioned this in my stock market videos about risk and stuff like that, but honestly, im pretty sure everyone believes the crypto market is way more riskier than the stock market when it comes to the potential to lose your money in a fast succession. Just like you can make a lot of money in the crypto market super fast, maybe overnight you can lose all of it overnight as well and thats. The situation were in right now for a lot of people, especially a lot of beginner investors. So here it is yet again do not invest your hard earned money into something you simply dont, understand or arent willing to even take the research to try to understand and also dont invest your money if youre not willing to lose 100 value of that money, especially When it comes to cryptocurrency, probably one of the highest risk asset classes that we have out here today, some people go to the casino gamble and lose all their money.
Now the moneys gone, others may go to the strip club toss some money in the air and moneys gone. But lastly, some people buy bitcoin at seventy thousand dollars. A coin have the coin drop down to about seventeen thousand dollars and then figure? Maybe i should sell here after i pretty much secured in all my losses: doesnt make sense, dont be that person and then, after they lose 60 of their money, they think oh wait. I got ta pay next months, rent because i use all my money to buy crypto instead of making some money put on the side. So i can go ahead and pay my bills that i have to pay for every month that i signed a contract for so now im about to get kicked out because i cant afford to pay my rent. I cant afford to make my car payment. This is actually its actually crazy, dont, be that person. Please dont, be that person or because this happens in crypto as well. They go ahead and try to withdraw their cryptocurrency to their actual bank account, but can do it because the exchange they use to buy their cryptocurrency cant afford to have them withdrawal because they cant afford to pay out everybody when they need to get paid out. So, therefore, your money is just pretty much stuck in limbo. You have zero access to it, even though its your money make it make sense celsius and other crypto exchanges.
Just let me know i would like to know just as much as your users would like to know why they cant withdraw their own crypto from their own exchange fund, account crazy stuff right im. Just saying do not let all your cryptocurrencies simply sit on these cryptocurrency exchanges and then, when something happens in the market, like a 50 drop in a matter of a week, when that happens in the market and youre not able to withdraw, then what are you gon Na do some cryptocurrency exchanges. You can withdraw some you cant withdraw from, but who knows which cryptocurrencies can exchange thats gon na happen when it happens, you dont know until it happens, but youll pretty much be sol until they actually figure out whats going on with their exchange and why they pretty Much cant allow you to withdraw your own money, which is the reason well, they cant do it because they cant afford to do it. Thats thats, the answer to if youre looking for the answer. That is the answer so im just saying, and that honestly brings me to todays partnership, which is perfect in todays. Partnership is leisure ledger right here you grab yourself. One of these. You can have full blown access to all your cryptocurrency. It is not stored on exchange. You have private key access to all your cryptocurrency, so nobody has access to all your cryptocurrency, except for you. Your crypto is stored on the block, all the blockchain and all your actual keys.
All your private keys and everything such like that will be stored on this ledger and also in your brain and written down as your private code as well. So youll be all good to go. If you have yourself a ledger and you can store all your cryptocurrency on here safely and dont have to worry about any exchanges or anything happening. When something does go wrong, you can go ahead and withdraw your crypto freely anytime. You want to simply upload it or simply move it to an exchange where you can withdraw your cryptocurrency from and youll be all good to go. Ledger is used by over 4 million people, including myself. I store all of my main cryptocurrencies on here and i will continue to have them stored on here, because i have full access to them and can buy and sell freely at any given time, no matter market conditions. Dont have to worry about any of that kind of stuff. This one right here is known as the ledger nano x. You dont have to get this one. So if you do want to go ahead and pick one up, i have an affiliate link down below that. Will greatly help out the channel itll, give me a little bit of kickback, which will obviously go back into creating more content for you guys by all means you guys dont have to use that link down below, but it is an option for you and, like i Said before it helps out the channel greatly, if you do so, i really do appreciate it if you do either way thats all i got for ledger and lets get back to finishing this video out.
So, at the end of the day, who am i to tell you how to spend your money youre going to do whatever you want to do with your money because its your money and you should have the ability to do whatever you want to do all? I can simply do is help you push you in the right direction, so you dont go ahead and burn 60 of your portfolio in a matter of a week. All im saying is: invest or buy or do whatever you want to do with cryptocurrency, but just do it at your own risk 100 of your own risk and also think about how much money youre actually putting into it in that in it. And if you actually need that money going forward, dont go ahead and put your rent money in there. I dont think thats a good idea, because you might need that next month sure it could quadruple over the next month or you could have nothing the next month. Its just that simple, so its just the risk you take and thats just something you have to deal with when it comes to cryptocurrency. The stock market is a little bit better on that, just because theres certain protections in place where, if the market falls too fast too far, then uh trading can be cut off for a limited amount of time and stuff. Like that the crypto it could go to zero tomorrow for all we know we dont know so nobody knows, and if anybody tells you they know, they dont know theyre a liar, so dont believe them either way thats all i really got for that.
Do i think cryptocurrency will go back up? Definitely, i believe in cryptocurrency 100 for the future for the long term, but today is down hey. It is what it is, but it was down before a couple years back and it was down before a couple of more years back before it was down before so you get what im saying its gon na its a cycle, its all in a cycle. So you got ta, just weigh it out and see what it is, but this is just part of the cycle. This is the next cycle, so we just got ta deal with it, so the main points only invest what youre willing to lose up to 100 of it. On top of that, make sure you pay off all your debts and have an emergency fund and everything set up. So you know all thats covered before you even go to buy any cryptocurrency, because, if youre not paying for your debts, especially that high interest credit card debt pay, please pay that off. If youre not taking care of that first and stay away from cryptocurrency, it just stay with cryptocurrency and on top of that make sure you create an emergency fund. So you can, you know, be okay, just in case a time like that happens. Maybe you lose your job tomorrow, i dont know maybe ill lose my job tomorrow. I know if i lost my job tomorrow, ill make sure im covered because im saving and investing for myself for the future.
So if things like that do happen, then ill be all good to go. I want to make sure youre all good to go so thats it and thats pretty much the video, and so the video should be all good to go as far as im concerned. Educate yourself do better stay safe, stay, positive, take care of yourselves. That is the end of the video thats. All ive got for todays video. I do have more content coming soon. All next week we got other partnerships coming to the channel as well, which is extremely exciting, and i cant wait to share those with you. On top of that, follow me on instagram plan on posting more there and yeah thats. All i got take care of yourselves stay safe. Thank you for watching. Thank you for all the love and support that you provide to this channel were over 17 000 now. So, thank you very much for that as well and were gon na keep it going its just that simple. I tried my best ive been working hard im for all. I know i might be getting another job. I just got another job. I might be getting another job so well see how all that plays out full time job this part time, but hopefully i can turn this into a full time thing love to see.