According to celsius's terms and agreements users have the right to retain ownership of of their funds. But there's a possible complication with how they worded this contract. Today's video. We're going to be touching up on the current celsius contract policy and uncover what is protected and what isn't we'll also be going over some other major headlines with regard to some crypto liquidations happening within the market and if you guys are enjoying these daily market updates be sure to like this video subscribe if you haven't done so already and let's hop in and see what's happening right so yesterday we actually went ahead and saw bitcoin pumping as the federal reserve of governor.

Christopher waller said he supported an interest rate hike of 75 basis points in july. Easing fears of a more considerable rate hike with the 40 year high inflation of 91. Percent. Several investors were speculating a 100 or even 125 basis point rate hike for july.

Now. The rumor in the finance realm. Is that powell may become the next paul valker and for those who don't know paul walker was the federal reserve chairman. Under president jimmy carter and ronald reagan where he ended up this is crazy.

But raising interest rates to 22 to fight the rampant inflation back in the early 80s. Now. I don't know how likely this may happen. And people might be exaggerating just a little bit of what's going on.

But i will say with inflation still going up. We could definitely see a lot more government involvement. Now currently today. Bitcoin is still sitting around twenty thousand five hundred dollars.

And even on a day like this with a little bit of green. We are still seeing a lot of mixed sentiment. If we take a look at the four hour chart for bitcoin. You'll notice that the rsi has jumped back to neutral territory.

Currently at 57. With bitcoin trading above. The 50 or the yellow line. And the 100 which is the blue ema bitcoin is still also trading above the twenty thousand four hundred dollar support level.

And i think it's safe to say that twenty two thousand dollars has been a pretty critical resistance level for bitcoin and right now. It's converging with the 200 ema as well that is going to be the purple line you see them on your screen. Now the cost to produce bitcoin aka. The mining for bitcoin fell to thirteen thousand dollars from twenty thousand dollars at the start of june.

As miners are continuing to battle the bear market and efficiency in mining rises. The way this all works is the hash rate has been fluctuating in recent months. With no clear downtrend and the drop in bitcoin's production cost stems from the decline in electricity use as well at this time. There seems to be some improved profitability meaning.

There may be less pressure for miners to sell their bitcoin holdings for liquidity. But the drop in production costs could also be viewed as a negative for bitcoin's overall price action in this article. They actually quote that the decline in the production cost might be perceived as negative for the bitcoin price outlook going forward to the extent that some market participants. Perceive the production costs as the lower bound of the bitcoin's price range in a bear.

Market. Now. There is also theory and some investors speculate that the bitcoin bottom price is also the cost of being able to produce that one bitcoin so if that's the case you need to start asking yourself. The question could thirteen thousand dollars.

Be the absolute bottom and should that be the buy order that people set for bitcoin during this time now guys on a day. Like this the global crypto market cap is still back to 900 billion dollars. But we have not yet seen it go through that one trillion dollar mark. Now in the last 24 hours.

We have been seeing some green taking a look at some of the top all coins within the market. You'll notice that we're having a good diversity of all coins. Sitting at least nine to even 15 up just for the day. Now.

Let's just use polygon as an example here. If we even take a look at the all time charts for this crypto asset since we had the giant dip off it looks like things might be stabilizing. We had a bigger dip happening just a few weeks back taking a look at the monthly noticing that even at one point. They're at half of what they are now.

Which is at 33 cents. The question that a lot of people are asking themselves is did the bottom maybe pass are we continuing to go up well taking a look at the current crypto fear and greed index obviously the sentiment is going back a little bit better because if you take a look at what we experienced before seeing single digit numbers. I would say that was really near the peak now while we do see this type of data. And know that peak market fear might have happened earlier it doesn't mean that we're not going to see any more volatility to come within a bear market.

The unexpected happens and this does not mean that you can't make money if you're starting to dollar cost average into some of these all coins you would be seeing a positive return on your investment already back i just want to remind you guys during a bear market. It is times like this where the true soldiers come out and you start to develop and learn the skills of being able to trade in a harder climate. Which will set you up even more as an investor for when we get that next bull. Run you guys have lost a lot of money because a lot of people have if you have some of your money stuck in voyager or if you've had it stuck in celsius or many other protocols even just talking about tara luna like if you guys were involved in some type of downfall.

I just want to say keep your chin up because even though losses. Suck and people have lost a lot of money this type of industry. The crypto market is here to stay now guys on top of that i do want to mention how it's going to be so important for you to prepare for any type of bull market that we may see next these things are going to be difficult to prepare for. But it's times like this where you want to make sure that you are ready that you are caught not on your heels.

But you know what's going to happen next. And there are ways and easy strategies to implement right now. Just some key quick tips for anyone going through this bear market. Just know that learning anything new staying educated is probably going to be your number one asset.

That's going to carry you into making money in the future during a bull market. We've heard about so many countless amount of people just making money from ridiculous ways where if you're throwing all your dollars into the latest animal related meme coin and you became somehow a millionaire or individuals who just you know had some money sorted away. And some all coins and then one day just started to blow up or even some nft projects. They may have gotten lucky in i would say even if you happen to be lucky.

That luck tends to run out you can only hit that jackpot so many amount of times and it may not be consistent. If you're able to educate your mind be smarter and find yourself being more consistent you can find yourself also making more money regardless of the current market conditions you can get lucky a few times yes. But you can also learn the exact skills and principles that will create yourself a generational wealth. It's also during these times.

I highly recommend anyone watching these videos to be involved within the space. Now this doesn't mean that you need to quit your nine to five job and join a crypto web 3 project and try to educate yourself and bring up the entire space that way when i say you got to involve yourself in the community and learn something new i'm even talking about basic principles in just creating businesses or learning how to trade within this market. Educating others or even being a part of other communities. Where you can continue to bring your mind together now regardless.

If you choose to just be going through this bear market that's completely okay too because it just shows that you still have skin in the game. And that you are waiting for what's gonna come next now guys that was just a little bit of a spill. But let's actually get into some of the more intriguing headlines that we have for today. And this is going to start with celsius now it's actually stated.

According to celsius that users do not have the assurance of getting back their funds just in case. They do go insolvent. Which is currently what we're seeing right now now. Although celsius has yet to confirm exactly what their next.

Move will be it is stated for a fact that they are going to be restructuring themselves instead of airing for liquidation now at this point. I think a lot of you guys if you have money stuck in celsius you just want your money back people don't care. What move. They're gonna make next people just want their money back.

It's unfortunate to see just the severity of this issue and we're gonna see it getting dragged out. And if you had a lot of money stuck in there. I know there's gonna be some class action lawsuits coming up that you can involve yourself with but even during this time. I think it's gonna be a lot better to just imagine that that money is gone you're not gonna have access to it if we get lucky.

And we see the access opening up that's when we have a celebration. But i wouldn't be counting every single day uh just to think that they would release everyone's funds when they're going for another bankruptcy now on top of that if you guys were. Watching these updates you know that we talked previously about coinflex and we actually got word that they're restarting their withdrawals with a 10 limit. So.

Just a little bit of a recap towards the end of june coinflex suspended withdrawals after an individual's account went into the negative equity. This is a large whale and during then they were like okay this guy's negative. We have no money now no one's going to be able to withdraw their money either now it was stated last week that 10 of user balances will be available for withdrawal with the exception of flex usd looks like they did make good on their promise because we are getting reports that people are able to take their money out and this brings up the question. What if we see celsius or voyager doing something like this next where they may not allow you to take all your money out.

But they allow you to take a certain percentage. It's just crazy some of the times. We're living in because if anyone told me that this would be the case right now even just a year ago. I don't know if i'd believe it.

But this is also the reason why you want to stay diversified. You always want to do your due diligence behind. Companies. Making sure that they have their money and making sure that from on chain analysis.

Seeing data with wallets or being able to you know watch videos like this on youtube. You know whether or not a exchange would be legitimate. Now guys. I recently made a video just going over some of the top exchanges.

I am confident that none of them are going to go under. But during these market circumstances don't even just listen to me a random youtuber on the space. Because at the same time. I'm just a regular guy and it's always up to you guys to do your extra dd.

Luckily enough for us voyager and celsius was never a partner of this channel. But i feel bad for any other youtuber who did partner up with them told their audience to sign up and now their audience can't get access to their own money. I see this happening on youtube right now. And i see both sides to it i see people like coming after the youtuber and i get it like they got to be way more careful.

But even knowing that i still feel really bad just for both sides of the situation. We are going through very difficult times. It seems like even on like tick. Tock and instagram like anyone could go on there.

Just talk about finance or just you know make the skits start blowing up and it seems like even the financial markets are hitting that peak and obviously we're seeing that reflect the equities and the prices of these assets. But it seems like even on youtube social media. Things are coming down a lot more now good news for bad news. I'm here to stay and i'm going to continue educating you guys as much as i can providing information entertainment.

Whatever it is i want to make sure that you guys are still taken care of and i got my core audience. We don't need millions of people i mean we got like we got a decent amount of subscribers and that just came from all the lucky and amazing growth that we've had from the work that we put in but during this time. I just want to say i'm so grateful for my little squad that we have the little jung nation. And if you guys are watching this y'all are literally the real ones you guys motivate me inspire me to keep going every single day and when things do pick up i know things are gonna get better.

I've seen it happen. Many times across the space. While i've been making videos on youtube for a pretty long time now it's been about almost four years now so right now. If you are going through a difficult time just know that this feeling that you might be experiencing is felt all across the space.

But we will get through this together now i will end this on some good news. Because gamestops. A new ethereum based nft marketplace. Has been live on its beta for a little over 48 hours and right now.

We're seeing nearly twice the all time trading volume of coinbase's nft marketplace. Which had a huge amount of hype during its launch. So hopefully we're able to see gamestop just crush. It within the nft space.

And i would love for people to start using them over some of these other exchanges and marketplaces because they have not done a good job in the last full run and this is always going to be an opportunity for someone else to do a better job come in and capitalize okay so guys. I mean. That is going to be today's update right there not much else to cover if you guys did watch this video. All the way till the end don't forget to comment down below the secret word warrior on top of that be sure to check out the links down below in the description.

And if you guys did enjoy it don't forget to drop a like subscribe to the channel. If you all are new and also it's really not much than that just have an amazing day have a great weekend. And i'll talk to y'all. Soon peace.

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