As always, it is nick here back today the crypto news and analysis, and today were going to be talking about the overall crypto market, so lets just dive in and lets talk about a few things. So, first and foremost, i do want to talk to you guys a little bit about the price action. So obviously, yes, it is officially the weekend. I hope everybody had a great saturday. Uh today was a little bit of a busy day, but for the most part i have been, you know taking a look at the market here and there on the seven day spent on bitcoin. We are down about 15 still. We do see the market down about 1.05 percent bitcoin down about 1.10. We do also see ethereum down about 2 percent um. All coins right now are down a little bit. I mean for the most part, theres, really no green. Throughout this market i mean theres, a few altcoins, i shouldnt even say all. Coins um, but like stable coins like ust, is actually up 22 today um, but we did see some all coins starting to break out a little bit um just so that you guys know im going to let you in on a little bit of a secret. I am actually waiting until the end of this month to buy graph um. The only reason why im not buying right now is because im waiting for my design agency to close on a client and then im going to you know utilize some funds to buy the graph.

Now, why am i buying the graph? Well, its pretty simple, honestly, uh, the reason why im buying this is because of the current price action on this um. We are down significantly even below our lowest points on. Of course, you know this entire chart. I mean this goes back to the inception of graph. So its insane that we are this low um at this current moment in time on again graph now i do want to talk to you guys about a few things so lets just dive in and lets talk about that. So we do see here, just in luna foundation, allegedly sent 80 000 bitcoin 2.5 billion dollars from its reserve to gemini and binance. Now this was actually today at 3. 56 p.m, um, when we do see a breakout down here or a breakdown of this uh down. Here but we do see a lot of people saying, like you know, huge dump coming people gon na sell the news all the way down to five zeros um, allegedly, is the key ward blah blah blah. A lot of people are talking about this, and yes, i did quote this and said this is old news. We actually do see here old news bro its you know what happened after. That is what people are wondering and yeah. This is exactly that, like we dont know what happened with this bitcoin, and i actually quoted this. I even said this on my twitter earlier, you know, i said this is literally old news and now being spread as fud, and a lot of people were kind of confused um.

But honestly, a lot of people are just going to be worried about things like this, but im telling you guys right now. Things in this market will always look. You know really dark during the bottom and im actually gon na im, going to show you guys this right now. So we just hear a bitcoin in the media bubble dead bubble, dead bubble. When you see income, sharks, saying you know, and they only say something at the exact tops and exact bottoms, everybody on ct are bears now true capitulation. Yes, i do completely agree like. I think that this is 100 capitulation, im more bullish now than ever. Um and a lot of people are continuing to tell me dude, you know youre gon na you know get people wrecked blah blah blah. Listen. You guys dont need to follow. Me. Ive always said it, you know time and time again you guys do not need to follow what i do. I i said it on twitter. You know last night, i said i wonder what the bears will say when bitcoin is back above 70k bro. This is literally a scam pump and i did post this goodfellas meme because, honestly, when we look at things happening around crypto, you know we will break out and we will still get those comments where it says all right yeah. This is a scam pump or this is a dead cat balance, blah blah its all coping mechanisms and trust me bulls, do it as well, but i am not bullish or bearish.

In fact, i told you guys exactly my position on this market. I am always bullish on krypto on the macro view and i can be bearish in terms of short term views and i can even be bearish during bear markets, but right now there is no reason for me to be bearish at all. This is why ive said you know multiple times on this channel. I am averaging in if it goes lower. It goes lower. Now lets talk about a few things. First, off lets go back to 2017 lets time travel a little bit. Black tuesday for crypto markets has 10 billion dollars, wiped in 24 hours ethereum down 20, a new bear market has seen billions of dollars disappear from crypto markets in 24 hours. You know you see these terms new bear market july 11. 2017. lets go back in time. A little bit so here is the uh bitcoin price chart lets go back to 2017.. Remember that day, right july 11th right it was july, 11th july, 11th, 2017.. So here we have uh july heres, the 11th right now from the 11th. There was a little bit more downside in fact, lets actually look how much downside there was from the 11th so um. Here we have the date that this was posted. Okay from the top of the candle on that daily candle to the bottom. Here it was an additional 23.78 drop in price, but look at the all time high from 2017.

. Okay, the the percentage move on bitcoin. To that all time, high was literally almost a thousand percent of an increase in price. This is why i say stay away from the individuals trying to you know scare you out of you know being in this market. These are times where you want to make sure that you know what you are putting your money into. You need to make sure that you have the conviction to huddle through dips, because if you dont, you are not going to make it. We actually use here june 25th, 2017, another crypto massacre in the making big players subdued by slumps again june 25th. You know, june 25th was a little bit yeah. I mean it was a little bit earlier in terms of the price action. We were actually a little bit higher um and we go back to you know june 25th. Here we have it roughly, like 27 of a drop in price. Now this followed up with another article, this one by cnbc. The funny thing here is that this is june. 23Rd ethereum briefly crashed from 319 to 10 cents in seconds on one exchange after multi million dollar trade. Does this remind you of something we just seen? Luna absolutely get decimated from literally eighty dollars down to fractions of a cent this happens and at the worst times in these markets. When things like this happen, it truly tells me that we are in mass capitulation.

We also do see here going back again to march 13th 2020. Now we are in a little bit of a different time period. We are in the marta 2020 crashing point funny thing about. This is im going to show you guys why this point in time was actually more of an incredible opportunity. In terms of you know, a bearish trend in the market compared to even a bear market, so lets look at this right. Bitcoin bloodbath. What people are saying about the crypto collapse? Now again, they basically were calling. You know at that point as well: um a bear market. This is on march 13th. 2020. march 13th. 2020 was the bottom on crypto im, not going to say that this crash was not. You know rough. In fact, this was a 63 drop in price, but off of that bottom candle. This is the interesting thing. So, just recently, in november again, like ive said, if you were following the four year cycle, this was our top, but i dont believe it was. I think that we are in a lengthening cycle. This was a 1700 of an increase in price on bitcoin. Now a lot of all coins from those bottoms increase drastically, but this is why i say pay attention to where the major fund is being spewed. We even seen you know cnbc report multiple times march, 8th over 26 billion, wiped off cryptocurrency market in 24 hours. After massive massive oil price plunge, the value of the entire cryptocurrency market fell over 26 billion.

On monday bitcoin, the biggest cryptocurrency by value fell 10 in 24 hours, other big digital coins, ethereum xrp and bitcoin cash posted double digit losses. The sell off in digital coins followed a plummet in oil prices. Then this guy followed up with yet ano another article from cnbc. This was on march 12th, four days apart by the way: um cryptocurrency 93.5 billion wiped off value in 24 hours as bitcoin plunges 48 bitcoin was down uh 48 from 24 hours, uh before at 10, 24 a.m, singapore time at four thousand one dollars and sixty cents. According to data from coindesk, the market, capitalization or total value of the entire cryptocurrency market plummeted around 93.5 billion dollars in in the space of 24 hours um as of 1007 a.m. Singapore time, according to data from, the fall in cryptocurrency markets comes amid a broader sell off in equities, as governments continue to grapple with the new coronavirus, which is spreading rapidly across the world, everybody was so fearful. Nobody wanted to buy the dip and guess what ended up happening. We massively surged – and you know these articles – are something really comical in this market because we continue to see massive. You know major sell. You know uh articles where they want you to sell your crypto im, telling you guys right now, okay from our current high back in november, while everyone is calling for a bear market right now on bitcoin, while we are holding a massive four year trend.

Look at this i mean we came down roughly 63.43, now im not going to say that were gon na do that same repeated pattern from you know, march of 2020 to now um, but i do think that this has some steam in it uh to really kind Of push above the 100k zone, ive said 107k. I think 107k is pretty significant and the reason why is because im going off of the percentage fractals from 2013, 2014, 2017, 2018 and comparing them to now through some math um? I know a lot of people. You know dont like me to do that and kind of compare and contrast patterns, but this would essentially be our topping point if that did come. True now ive seen you know a few other price targets like, for example, excuse me: um 160 k, thats possible thats, a 532 uh percent of an increase in price thats 100 possible um. Now it doesnt really matter to me where we go on the bitcoin honestly, i just want to see 100k plus honestly. I will even welcome a new all time, high just around 70 to 80k um, because at this point all coins. If we do see that nice surge on bitcoin will do incredibly well um and honestly, i always say right now: the major thing holding us back is the dollar. I think that a lot of people are accumulating the dollar right now, as they are uncertain and scared to hold other assets.

Uh shout out to do you do it yourself, uh investing here, but we do see the reasoning behind both of these people selling their assets. For cash at least, i can hold the cash in my hand and have it on me. The dxy is rising because people are scared of holding assets. The dxy will top for this exact reason. In my opinion – and i do believe that a topping point on the dxy is incoming – i think that we are close to it um. I think that it could move a little bit more, but overall, its overstretched its over leveraged. I do believe that it will do a 180 turning event and that will most likely happen within the summer time. Um im definitely watching it closely, but you know even all coins right so, as i was talking about xrp hbar q and t xdc etc. Like all of those old coins are great and we are in a great opportunity if this support zone holds on the total market cap of crypto, because that means that hey were going to see some nice stable price actions from here were not going to see too Much downside can we still see downside to like 2425k to have a re test 100. But as long as we continue to close above 27.7 k, i am extremely bullish. So, im not going to be too worried about the price action on bitcoin im not going to play into everybodys fear, as everyone is expecting a recession, uh everythings going to crash everythings going to you know this level that level everyone knows exactly whats going on right, Because everybody knows everything in this market im not going to say hey the full bottoms in because listen.

I am wrong im going to be wrong. If i try to call the bottom, nobody can call the bottom exactly unless you are lucky, you know extremely lucky. I should say um, but i would say this i would say either we are at or around our bottoming point on bitcoin reason why i say that is because i think that this was massively overstretched in terms of a sell off pattern on a bitcoin. In my opinion, it was majorly inorganic. I think that the whole luna situation definitely added fire to the flame um. But in my opinion you know im not going to be scared out im not going to play into the fear levels and im honestly huddling. My tokens and im going to be averaging more im going to be buying more by the end of this month. So with that being said, i hope that you guys enjoyed this. If you guys did definitely leave a like subscribe to notifications on, if you guys want more free content, you guys are more than welcome to follow me on twitter and join the free discord down description below. As always up to you all, have a beautiful day.