Yo, what is going on? You guys welcome back to another video, so the past few weeks have definitely been rough in the cryptocurrency market and you got to know whenever i do. These live streams on youtube uh, and i did two this past week. The market is really gon na do well, it's gon na go parabolic or it's the latter and uh. I know that people need me, and i know i need to hop in to make sure that the fud does not overwhelm people like a virus that we're seeing it take over the entire market.

So, there's a lot of important things that we need to cover in this video. First of all, happy saturday. I hope you guys are hanging in there, because if you take a look at the portfolio, i know it can be tough. I know it can be gut.

Wrenching still and i've been doing as much crypto news videos as possible in order to make sure that people are taken care of and staying up to date generally with the crypto content, we've been doing more evergreen stuff in the past, but lately the crypto news is What i've been getting a lot of demand for so i'm going to continue to put out as much consistent content as possible in order to make sure that you guys are taken care of during this time. So for this video we're gon na do our usual crypto market analysis. We're gon na be talking about a little bit more bitcoin pizza day. Some promotions that you guys may want to know about, and then we're gon na be talking about some crypto news and then this interesting twitter thread that i also found now before we get started with this video.

Let me fix my chair out here before we get started. First of all, i opened up inner circle 2.0 yesterday and it sold out in under 10 minutes. So it was a lot of spots too. The demand has been absolutely crazy and unfortunately, we cannot keep opening up spots because of how many members are going into our group.

So i will try my best to continue scaling this adding more moderators having some systems in place. If you were part of the lucky 150 to 200 members that got in yesterday, i just want to say congratulations for joining the group and if you are still trying to get in first of all, if you're struggling with any type of finance, you don't have to Join don't feel inclined to join. This is just another step up if you want to invest in yourself and invest into the community, but what i need to say is: if you're struggling, don't sign up for patreon, don't sign up for inner circle. I have all the free content on my youtube channel like videos like this, where you can still learn immensely everything you need to know in order to survive and thrive and make money in this market now i haven't actually opened up or set another date on when We're gon na have more spots open for the patreon, so just stay tuned on my twitter and instagram.

I will let you guys know as soon as i do, but at the moment it's currently sold out and i don't plan on opening any more spots in the future. So back in may 22nd of 2010 laszlo hannizek agreed to pay 10 000 bitcoins for two delivered papa john's pizzas uh. Those pizzas would be worth 630 million dollars if bitcoin was at 63 000 right now, they're still worth a significant amount of money. I believe around 30 300 million - if i'm doing my math right so so i actually went ahead and saw some interviews with this guy and he's saying that.

Oh he doesn't regret it at all because he knows back then, and he really enjoyed the pizza. But this home there's no way man that he doesn't feel a little bit of regret from uh buying pizzas with 10 000 bitcoins. So it's pretty funny to see where we are in the world with that. The reason why i also want to mention it is because domino's pizza and papa john's is also giving away 10 000 slices of pizza to celebrate this day.

Some other great news, a franchise of many domino's pizza locations in the netherlands, announced today that its workers would have the choice of being paid in bitcoin. Now uh, you know the you know the market. It's got to be pretty bare when uh good news for the day is gon na, be uh domino's pizza franchise offering to pay their workers in bitcoin salary. But the reason why i got to mention this is because it's still showing the early adoption of cryptocurrency and other countries from all around the world, still utilizing it recognizing the story.

The background of all this - and i think it's all really good news in the further development of where we could see cryptocurrency headed now in terms of the crypto market cap. Today the market is up 1.95 at 1.57 trillion dollars. The volume is down 8 and then we also have a bitcoin dominance that is going up at 45, so it looks like large institutions a lot of whales. A lot of people are loading up on bitcoin, just because this is the face value of cryptocurrency and although we're seeing better sales with other altcoins people are just gon na have their eyes on bitcoin, because i'm telling you this is what everyone looks forward to.

Since this is what mass media talks about, they're oftentimes they're not going to be spitting game about binance or cardano or xrp or stellar solana, it's going to be things like bitcoin, good things like ethereum or even dogecoin, which has been very popular in the past few Weeks, so how has the market been looking? Well, bitcoin is actually up seven percent today, so if you did end up buying bitcoin at its low anywhere near 30, 000, even in this bare ride that we're in you'd still be up on your investment - and this goes into a further point that i really want To emphasize, we do not have to be in a euphoric high bull market in order to make profits with cryptocurrencies, even in a bear ride. There are a lot of different things that you can do in order to make additional cash for yourself. So ethereum is up. Three point: five: nine percent: today there are twenty three hundred fifty one dollars, and you know if we look at the one week, they're still down a significant amount.

Last time we were talking about ethereum nearest all-time high. It was at least four thousand dollars. Cardano is at a dollar forty nine cents today by nance three hundred ten dollars, polka dot, it's still down pretty pretty significantly similar to binance over 50 percent right now, but they are up three percent for this day, internet computer. They are actually having a splendid day.

So icp 22 up, so if you guys are able to time the market on this, one which i know is very difficult to do, but anyone who did buy this near 100, you would be seeing a pretty decent return right now on your investment now, in addition To that it looks like most other cryptocurrencies are along the lines of a 40 decrease for the past seven days and we're seeing just a little bit of an increase, meaning a lot of people are deciding hey. I'm not gon na sell my different cryptocurrencies, i'm gon na start adding more positions into it, and if we can start seeing some more whale activity loading up into some of these higher position coins like bitcoin, we will then see another start to an all coin or Another tremendous bull run, like we've, been very optimistic of happening soon, so i wanted to talk about right here. What you should expect in the crypto market. The next few days are going to be really important to determine whether or not this is going to be a sideways market for the next month or so, and then we might flutter down or we might have a stagnation, maybe towards the downside.

But i do believe we're gon na see a tremendous upgrade so pay attention right here. I found this incredible thread that we're gon na go over in this video, but i'm still really really hopeful that we're gon na have a incredible year and right now we are still on track to a lot of the price targets that we set earlier this year And although this ain't a little hiccup, this ain't a little baby hiccup that you got going, this is like a rhino hiccup all right. This is definitely up there in terms of, if you're feeling some type of fear, it makes sense. I would be freaking out a little bit too, but you got to pull it back still.

You got to look at the one month, the three month or even the one you one. What you got to look at the one year chart too and realize: we've made a lot of tremendous growth, and this is still all part of the plan. Now, in terms of a 24 hour increase, theta fuel hedera is doing well and then theta is doing well up. 20 icp, like i mentioned, is doing good, see a coin up ten percent and then celsius is up.

Nine percent shiba inu is up eight point. Four. Eight percent too so we're seeing a little bit of life on this too ooh. It just jumped up uh to twelve point.

Eight eight percent - now what's surprising me about a lot of these meme coins - is that i would imagine some of them dump really really hard, but it looks like they're actually holding their support lines pretty well right now, so shiba inu is still down 51, but most Of the market is down 41. This might be a good indication that another meme coin still might make a run and that there is a lot of positive sentiment, because i would say a lot of newer investors are getting into this. The market cap is still very low in comparison to most of the popular cryptocurrencies in terms of the one week. Do we have any big gainers? No, not at all.

Everything in the market is literally negative and if you see any of the top coins that have been doing well in the past week, these are all what you call stable coins that are pegged to fiat. So uh, you know one dollar, one dollar, one dollar, one dollar, one dollar, one dollar. The reason why these are the top cryptocurrencies, because everything has been bleeding uh. I wouldn't worry too much about the price fluctuations.

You normally don't see that uh in these ordinary cryptocurrencies that are considered stable coins. So, for the most part, everything else in the market has been down and it's been really tough for a lot of people, and i know it's been really stressful, but i just got ta say: hang in there because we're gon na get through this together. So i've been reading a lot of twitter threads online as well, just because we haven't been seeing too much news or hot stories with regards to the entire market. It looks like everyone right now is just waiting to see.

What's gon na happen in the next 48 to 72 hours, a lot of technical analysis, a lot of traders, a lot of quants, everyone is just staying tuned, especially this weekend. It looks like the best positive advice to have right now is not look at your crypto portfolio and to literally just go out, eat a dinner okay, i know we're all suffering, but it's okay to treat yourself every now and then go for a walk. Go go on a hike or something and take take a little time away from the screen right now, except except these youtube videos. You know you know i like it when you all watch these youtube videos so to begin this thread.

First of all, what happened especially on may, the 19th in particular, this thread is going to go over if the bull market is over what's next and what this individual is going to be doing and there's a lot of good insightful things that i need you guys To pay attention to right now, they state, of course, there's plenty of arguments and narratives for what happened, be it elon, china, fudd or just the general end of the bull market as a whole. The one thing that's most likely, though, which we can see from the data is the fact that people have been over leveraging into longs a lot. We knew this was happening all along and usually we got away with a 20 to 30 percent dip, but this was not like the other corrections. This time, open interest, which is the total position size of both longs and shorts on futures, was at a pretty hefty peak at an all-time high of over 27 billion dollars and on this graph right here, you can see this peak of exchange, bitcoin futures, open interest.

Looking at the funding rates at the time, it was clear that most derivatives were paying a big premium compared to spot meaning. A lot of people were betting, with huge long positions on price going up further. The first two weeks of april have seen a funding rate of almost 0.1 for most of the time, so this right here is the bitcoin funding rate history. This yellow line is bitcoin, alongside all the other exchanges that you could have used.

So as price started falling further than most people expected. We can see these huge drops in open interest, as mostly longs are closing getting stopped out or straight up liquidated, which then put on even more selling pressure as it snowballed further and further. So you can see this dip compared to april 17th. All the way into may 17th, almost a month later, with the futures open interest.

Of course, there's also shorts, taking profits in all of this, but, as can be seen in the liquidation chart, a lot of the longs have been completely white out. So right here on the graph, you can see those longs getting wiped out with some of the high peaks and the low valleys that we're seeing as well. This seems to be the best explanation for the size and speed of the drop, especially on may 19th. Besides that, the market had an amazing run up until that point, with very few big corrections.

A lot of new traders and investors also joined us. Meanwhile, now most of these people haven't seen huge drops like this happen before or don't use proper risk management, even though most of the portfolios may be small, add millions of people together and them selling getting wrecked had quite the impact on the price. I'd imagine with regard to that this is everything i've been talking about within the past week on this youtube channel and it's really good to see other acknowledgement within the space they also state we're also seeing big amounts of fud over the past few weeks. It's true that fog gets absorbed very easily with little to no price drop when the market is bullish.

But even then it seems like all of a sudden. Everything is coming in at once, we're seeing probably the hundredth message of china banning bitcoin and obviously seeing in how panicked the market is. It reacts by an instant drop in price. This gives me september 2017 feels most of this is usually just to scare people away.

Now, if you guys did not know this, china fudd going on right now saying that china's going to ban bitcoin this is all it's not new news. All of this has been said for many years, and it just always seems to happen to come out during the times when we have a trigger in the market, like the one that we're seeing now, and this is why a lot of people believe that this is Heavy manipulation and a coordinated attack by larger institutions, governments and whales, trying to pick up bitcoin at an early price and drive the price down so low that it lets other retail investors, like you and me, get afraid from investing into cryptocurrency and stopping the revolution of What we may see in this sector, even though this drop is very scary - we've seen this happen before in 2013, where bitcoin's price even went as far as minus 80, only to make another huge peak later that year, many people reference to this cycle as a double Peak cycle, so you guys will see the cycle here once we had a drop off a little bit of sideways action and then boom. We had that and then we had another drop off and then we had to recovery, and then we go into the 60 thousand dollars. 2013 saw a double peak cycle, which many people also see as two separate mini cycles, even though i doubt we'd go minus 80.

Only to recover after we could begin seeing a similar situation here again, where price comes down after its initial parabolic run, consolidates for a while and then continues to make a new all-time high later this year, currently sentiment seems rock bottom fundings are negative, and the market Seems to be in panic mode historically, these times have proven very well for buying. In the long term, the same can be said about a euphoric sentiment for selling. I've always believed that once the stock market tops out and the dxy also known as the dollar index bottoms out, we see bitcoin go down with it. Bitcoin and crypto as a whole have been moving with stocks quite well over the past few years on high time frames.

The thing now is that stocks are nearly at an all-time high and the dollar isn't showing much signs of life for a bounce either whether that's healthy or not. In our current economy, i won't get into it, but it's something definitely to watch with increasing inflation, regardless of what the fed may say and guys. We just went over our cpi index report too, which shows that inflation is going up we're having some of the worst months now, regardless of whatever anyone from the government may say, the data is showing that prices are going up. Look at other markets too.

Look at the used car price market look at even the prices of homes still, which may not directly be involved with inflation, but because there is a lot of process in terms of buying and selling goods and the prices of homes still staying constant. You can't ignore the fact that inflation is affecting a lot of people's everyday lives, especially with some of these bigger investments and assets. He also states is bitcoin the best performing asset of the year, really entering a new bear market right now, just as institutions are getting in. So a really good question.

I would pay attention right here. Of course, anything is possible and institutions aren't godly beings. That know everything either. I just strongly doubt that bitcoin would end its cycle here sooner than anything else.

If the stock market would start falling, all of a sudden and we'd enter a risk off environment again, just like during the pandemic crash. That would definitely change my bias towards the crypto market a lot, but as we speak, that's just not the case yet now. This is really important because you have to understand that there is a lot of correlation between the stock and the crypto market, and it is good. Although the stock market has not been performing its best, it still hasn't been crashing or going down into a full bear ride.

So it's good that we're seeing different markets having a consolidation or just a sideways trading action for the past few weeks, because this means the cryptocurrency market still has a lot of potential ahead of it. I would also like to get into the fact who is buying here. Price went up approximately 30 from the bottom and has sustained itself quite well in the 35 to 40 000 range. For the time being, is it retail investors trying to double down on their underwater investments? I doubt that they don't have the pockets to sustain such downwards pressure and they probably don't even want to buy right now, and i can tell you from reading all the comments in my videos, that is all facts.

Volume seems to be an all-time high on most exchanges, so it's not like the order books are so thin that it's relatively easy to sustain the price. That means that some people with big pockets are still buying and have absorbed all the selling pressure. From the past few days, so what's next there's a lot of bitcoin being sold and bought, and i expect volatility to remain relatively high as we chop around as bitcoin finds a bottom whether the bottom is in already which this person does not think so. This chop will scare away or stop out everyone trying to trade in this area if you believe in bitcoin buy spot, don't even try to use leverage here unless you're an expert scalper.

The two areas of interest - i'm watching right now are the 42 to 43 000. As well as the 28 to 30 000 area, getting above 43, 000 would be great and i'd have a lot more confidence in this being a giant shakeout. If we start consolidating below 28 000, i would reconsider my bias and start looking to get out of the market as a whole. I then buy back lower or be a buy back on a solid retake of the level, with a better probability of moving up so guys.

That was the thread right there and that's pretty much a lot of what we've been reemphasizing on this channel. We just need to see what's gon na happen, but i do believe that we're gon na see a lot of good, better news within this coming week, because we are approaching june and if we don't, i wouldn't have your expectations shot down immediately as well. I think right now the best move to make is, if you haven't entered the market, definitely consider averaging into this dip, and if you are a new investor that has money tied up in the markets and you're, seeing some red hold on because right now we do See some potential of a higher upside, but if it does go down lower, make sure that you consider all of your options, including stop losses or limits that you can trigger onto your account, if you guys need some cryptocurrency platforms to check out check out coinbase pro. I don't have an affiliate link for them just because they don't offer any of it.

But if you do use coinbase it's better to check out pro because you do get more features. But i'm telling you coinbase is better because it's a lot easier to use. But you do pay more tremendous fees, coinbase pro it's going to be a little bit like yo. What's going on with all these charts, what's up with all these red and green lines, so it's going to be a little bit more taxing and confusing for any of my newer investors, but if you want something right in the middle, i do have crypto.com that you Can also check out - and i do have binance a referral link for that, where you can get 20 off your trading fees listed down below in the description now guys.

I do plan on taking tomorrow off probably, but i will be back on monday for a regular upload and then i will be in uh the bitcoin conference pretty soon after the week, for that, so we're just going to have to see what happens in this market. You know i don't want to sugarcoat things and i don't want to tell you oh we're going to go to the moon anyways, because a lot of youtubers are going to click this and say that you know 100 000 bitcoin is next on the list. That is just not true right now we really don't know, and anyone who says that they do is just lying to you. We just have to see what's going to happen, i'm gon na give you the realest news.

It's definitely tough right now, stay tuned, don't panic, sell and make sure that you have your exit strategy in place. I made a full video on that and utilize all the resources that you have. I will be posting more on my twitter and instagram over this weekend, while everything is still in the red and i'll make sure that you guys stay up to date. Now, if you guys also want to support this channel check out block fight down below you get 250 back in bitcoin, if you use my link down below in the description, if you are going long, if you are holding regardless of whatever the market, does transfer your Money into block fi use them and then pick up that bonus and also earn interest on your crypto.

Also, i have weeble that i use for some of my trades. You can trade stock and crypto and get up to eighteen hundred fifty dollars back in a free stock. If you deposit 100, into the app use my link down below, i am losing my voice for talking so long today. So we're going to be tuning out of this video.

Thank you all so much again for watching. Don't forget to smash that like button, if you guys have not yet already follow me on instagram and twitter, if you guys have not done so already and uh other than that yeah. Thank you so much! Oh, we haven't done a code word in a while code. Word butterfly, don't know why just do butterfly.

Thank you all so much ken for watching this video, and hopefully i see you guys in the next one peace out.