Ladies and gentlemen, my future millionaires - i hope, y'all been hanging in here, because yesterday the crypto market absolutely took a dump. We saw some major volatility and, in this video we're going to be going over exactly why we saw the crypto market come down and we're also going to be talking about how you can make profits whenever we get down. Turn like that. So i know many new investors would see their portfolio going down and start freaking out and saying yo brian i just invested near the top again and whenever i happen to do that, just a few days later, bitcoin always takes a tumble.

Now there are ways to make money in this market. It all starts with being educated and then being prepared for opportunities that await so a lot of good news out of all of this, and i took the day to really reflect on where we were in the market today. Just to give you guys that value-packed information, because i think we're actually going to be seeing some more volatility coming up, so this is really going to be a jam-packed video for everyone watching now before we get started, like always, don't forget to drop a like down Below that helps a brother out on the youtube, algorithm and uh, if you guys did do that, just want to say thank you all right, so the global crypto market, for today, it's actually up just a little bit it's up 1.83, where the market's at 2.12 trillion Dollars we're seeing a little bit less volume today, so 20 decrease, and one of the reasons for that is because yesterday we saw a ton of different liquidations, accounting for more than three billion dollars in long positions. Now, depending on what exchange you were looking at for the price of bitcoin, they're, always going to be fluctuating hugh boy actually, yesterday saw bitcoin slide under 40 000 on their platform.

Data from sku by coinbase also shows that more than 290 million dollars worth of bitcoin future positions were liquidated on huboy. The second most behind by bit so by bit, was at 711 million dollars worth of liquidations. You boy 293 binance 117 and if you are a newer investor and you don't know what bitcoin futures are and why these liquidations are so important, so bitcoin futures enable investors to gain exposure to bitcoin without having to hold the underlying cryptocurrency. So this allows you to leverage the money that you may not have and it's going to extend the amount of reward, but also put you at risk.

So whenever bitcoin falls to a certain threshold, the exchanges are going to go ahead and sell off your positions. They're going to liquidate it whenever we see mass volatility and that's when we get the ball start falling and that's why we saw this enormous candlestick yesterday. So if we go to the block crypto, we can also find some additional data showing those bitcoin liquidations happening. Also here as well, the long liquidations seem to be congruent with most different articles that i've been seeing prioritizing by bit and hugh boy as the top and then followed by binance and the other exchanges alongside them, because the price of bitcoin was going down.

We didn't see any type of short liquidation, also known as a short squeeze which we've encountered before in the past, where you'll notice, even on a day like july 25th, you'll notice, this large green candlestick, similar to the opposite of what we experienced yesterday now before we Talk more about how you can make money in a market where the market's literally losing money. Let's talk about the fundamental reasons why yesterday actually happened. So there are two main reasons. One of them is the fact that yesterday was el salvador's first day of adopting bitcoin.

Now, with regards to that, thousands of people were planning to buy 30 of bitcoin to celebrate el salvador and hashtag bitcoin day. It was a trend that we also saw over on twitter, where everyone was going for that hashtag bitcoin day. Let's all buy 30 of bitcoin on a coordinated time slot and pretty much. Everyone did start panicking and freaking out now.

One of the main reasons for that was because, on the day of bitcoin day, there's actually a numerous amount of issues with regards to the actual wallet that the government and country was looking for to use. That was the chivo bitcoin wallet, which was taken down for five hours for maintenance after users reported various issues with the application they stated in this article. After numerous user reports of system downtime and download issues, buckley announced a maintenance period to improve the user experience and fix reported problems he quotes. We will disconnect the system from 1am to 6am to make these adjustments.

Our teams are ready. We hope tomorrow is much better on top of that citizens of el salvador went ahead and actually protested against the bitcoin adoption, so you'll notice the b flag right here, there's also another additional photo get out of here ad another additional photo of a thousand protesters which Took to the streets of san salvador opposing the latin american country's adoption of bitcoin and then just as another visual you'll see some additional citizens holding up some signs all wearing masks as well. Now there are many reasons why there were this many protests going on in the country. One of those reasons is the fact that adoption of cryptocurrency can still be quite intimidating and most of these citizens don't even want that type of regulation being forced onto them.

In addition to that, because cryptocurrency is still seen as a very early asset, el salvador is going to be one of the countries that may have some trouble in the future. If they're trying to get additional funding from say the imf or any type of other world organization, because they set a new legal tender now that wasn't the only reason why bitcoin started to go down in price as well. Yesterday, brian armstrong, the ceo of coinbase, went ahead and posted this very interesting thread over on twitter. Now you got to realize if a ceo is hopping over on twitter, it seems like this is one of his last options or his last resort.

So i'm just gon na go through this very, very quick. He states some really sketchy behavior coming out of the sec recently story time. He states millions of crypto holders have been earning yields on their assets over the last few years. It makes sense if you want to lend out your funds, you can earn a return.

Everyone seems happy. A bunch of great companies in crypto have been offering versions of this for years. Coinbase came out recently and said we would be launching our own version. We were planning to go, live in a few weeks, so we reached out to the scc to give them a friendly heads up and briefing so.

Coinbase was gon na allow users to earn four percent. If you held your stable coins with them, that is very competitive. You'll notice, other companies celsius, gemini, block fi, most institutions right now, who are performing crypto exchange opportunities have been in the space now what's interesting about this is coinbase. Normally, since they went public, i mean, i believe, they've been doing a great job at uh having the regulations and being able to communicate with different enforcers and brian armstrong is going to talk more about this later on, but it gets really interesting.

So listen up. He states here they responded by telling us this len feature is a security. He says, okay seems strange, how can lending be a security, but it's not the first time we heard about it. We've seen it happen, multiple amount of times in the crypto industry.

He says so: we asked the sec to help us understand and share their view very fair. We always make an effort to work proactively with regulators and keep an open mind. He says they refuse to tell us why they think it's a security and instead subpoena a bunch of records from us, we comply demand testimony from our employees. He states we comply and then tells us why they will be suing us if we proceed to launch with zero explanation as to why he says, look we're committed to following the law.

Sometimes the law is unclear. So if the sec wants to publish guidelines, we are also happy to follow that it's nice, if you actually enforce it evenly, though across the industry equally, by the way, so a little bit of shade he states, but in this case they are refusing to offer any Opinion in writing to the industry on what should be allowed and why, and instead are engaging intimidation tactics behind closed doors, whatever their theory is here, it feels like a reach land grab versus other regulators. Meanwhile, plenty of other crypto companies continue to offer a lend feature, but coinbase is somehow not allowed to and uh coinbase isn't even offering users like the craziest rewards. It's four percent apy granted, that's still good uh any u.s savings account is going to be so dismal compared to that.

But you look at some other d5 products that are borderline up there in terms of uh risk versus reward and they'll, say you're gon na get a one thousand to two thousand percent apy and uh. They could just be completely liquidated tomorrow. He states gensler in his confirmation hearing it's important for the sec to provide guidance and clarity. Gensler said sometimes that's a clarity that will be a thumbs up, but even if it's thumbs down it's important to provide that armstrong also said in may of this year, i traveled to dc shout out to the dmv area to meet with every regulator and branch of Government i could the sec was the only regulator that refused to meet with me saying we're not meeting with any crypto companies.

This was right. After we became the first crypto company to go public in the us. Genzler had been confirmed just a month prior, so i brushed it off as the sec still getting its feet under it. Now, i'm not so sure.

We've always tried to be good actors in the space leaning into sensible regulation, even when it is difficult or expensive. We try to think about what products we would want for ourselves and what risks we would want our families to be aware of before launching products. We will keep following this approach, yet here we're being threatened with legal action before a single bit of actual guidance has been given to the industry on these products. If we end up in court, we may finally get the regulatory clarity the sec refuses to provide, but regulation by litigation should be the last resort for the sec, not the first.

Our doors remain open. Hopefully, the sec steps up to create the clarity this industry deserves. Without harming consumers and companies in the process, america could really use us all working together to figure this out right now, mike dropp. So this right here, in my opinion, was definitely a great move by brian armstrong.

Only because twitter and the amount of reach that you get and in terms of clarification on some of the shadier work that us government regulators may be trying to implement against. With the adoption of cryptocurrency, it's good for us to be aware of this, and that way we know proactively what we should be on the lookout for and on top of that, voices and numbers can be heard. So it's always going to be great if we can get that awareness to have the public support on it. So with all that being said, markets have been fairly interesting in the last two days since we had that major crash.

So what you'll notice, even with the seven day, charts, i believe yesterday, was just a mix of over leveraged positions which got liquidated once we had a little bit of bad news on top of buy the rumor sell the news with bitcoin day happening as well. Now, in addition to that, in the past three months, we've been making some pretty incredible strides going into the market, starting at a low of under 30 thousand dollars back in july, moving up steadily rapidly just going up. Over august every single week we've been making newer newer highs, at least within this three month period. Getting close to.

Let's look at the one year chart getting close to the previous all-time highs of 65 000. So right now here are the biggest bullet points that you need to take away. First of all, we're still in a bowl cycle, bitcoin didn't crash down to 20 to 25 000 dollars we're at 46 000 right now. That is still a very significant amount.

Only four thousand dollars under from 50k and just a little bit more of where we were headed back earlier this month now the crypto fear and greed index is gon na show a little bit of yellow. So it means we're neutral just because we are getting fear after we had some of that sell-off, but those are going to be the opportunities to buy in order to capitalize on the market. So, first of all, i do need to say this because we stayed in every video, but i feel like most people, don't take it seriously until it's too late in the crypto market, when you continue to make profits unless you're, absolutely diamond handing the huddle situation continue To take off profits, whenever you see peak euphoria or extreme greed in the market, i would say about two days ago, even after the finish of this weekend, that definitely would have been a great time to take profits, and this is why we emphasize it on our Channel so much, but that's not the only way that you can find yourself maximizing your ability to make money in this market, so there are a few ways to actually make money whenever we get hard liquidations like that now one of those ways is to actually short Bitcoin, which i personally wouldn't recommend doing just because we've seen what happened to bears we've seen different short squeezes happening before in the past, but as bulls and as people who are holding longer positions. All you need to do in order to create profit in a market like this is to have a reserve or a cash balance that you're always sitting aside just in case.

We get these market dumps, so you can buy in the dip and then, whenever the market recovers, you can decide to sell your profits then, or you can wait a little bit longer and average down your overall investment and just continue going long and emphasizing a little Bit more of that reward, because you have some more money in that portfolio now, even in the last 24 hours we're actually seeing some all coins making some drastic movements today, so iost they're up 42 in the last 24 hours. Al goran is up 42. This is actually another one of our callouts, one of my favorite cryptocurrencies. So definitely add it on your watch list too.

If you haven't done so near protocol is at ten dollars up 28 or up 82 in the last seven days. Harmony, one is up 21, so you'll notice that even on a day like this right after the bitcoin sell-off any all coin that got caught up in the slime where it did get pulled down. That was another buying opportunity. So, even right now, in the current moment, cardano actually went down a significant amount, but they're still at right under two dollars and fifty cents notice that, with a lot of these cryptocurrencies that did fall down in price you're gon na be able to find yourself making Additional amounts of profit in this market, so, if you invested into cardano during the dip of this market, it would have been at 2.16 at least on coin market cap on other exchanges, you definitely would have been able to find the price of two dollars, and that Would have been a quick, easy profit as well, if you wanted to even just sell today, so always have cash ready and notice that whenever we get those dips in the market be ready to buy in when the market is fearful because most likely than not, we Do get a quick bounce up? We see bitcoins re-accumulating those positions, especially larger whales.

Now another thing to keep in mind is that you want to have access to many different platforms and exchanges, because even yesterday, when people inside of our discord and our patreon were trying to make purchases to buy up that dip, they literally could not. Because these exchanges were all shutting down so coinbase support made a tweet yesterday stating where, where transactions are currently delayed or canceled at elevated rates and our apps may be experiencing errors, our team is investigating the issue and we'll update here as soon as we know more. A sudden increase in network traffic and market activity led to a degradation in our services we're seeing improvement with our app services. However, transaction services are still degraded.

Fund settlements will be delayed while we recover so not just coinbase. We actually saw this happen to many different exchanges, always have access to different platforms during those times now. What's important about all of this is just the fact that even right now we still have the scheduled road maps for a lot of these all coins. Nothing fundamentally has changed.

Institutions continue to adopt bitcoin and then further to that. Let's check out even this chart for long term bitcoin, it's at 46 000 we're not seeing any type of drastic negative downturn and if we compare different bitcoin cycles. According to this trading view, graph you'll notice that we still got a little bit of a way - and this is actually pointing towards a much higher amount, so bitcoin even shooting to past 200 000. Now i don't know how likely this is and i'm sure it's going to take a while for this to play out.

This graph is stretching it all the way into 2022, so we'll just have to see, but at the same time, i'm still so confident in a market just like this, because any time we get levels of correction, it gives you a buying opportunity. You can make free money in this market through that volatility, and on top of that, it just allows us to slow down catch. Our breath make sure we're not overbought in our relative strength index now to wrap this video up with some more final important thoughts. Just so, you guys can leave away with some golden nugget focus on this whenever bitcoin goes down instead of looking at bitcoin, because there's gon na be a lot of charts on it.

Think about entering other positions like ethereum cardano or some of the other top cryptocurrencies. That we've been talking about because if they stumble a little bit harder, you are literally getting a sale, especially if the crypto market continues to grow over the next few months, which i see happening now. I do know that a lot of people are concerned about an upcoming bear market, and when that could end - and i just need a state here on this channel - no one can make an actual prediction on when that could be. No one can look into the future and say this is what's going to happen.

Everyone is making their own best estimated guess as a viewer of this channel. I suggest that you guys don't hear like some certain specific date and then take that as it is listen to what other channels, what other resources, what other bloggers, whatever you use, to retain information and gather your thoughts and then do it yourself. Do the due diligence and figure out what may work for you, based on your risk, tolerance, to develop your own exit strategy? Now, to give you a better example what i may be doing, i have a certain price target that i've set for my cryptocurrencies and the number that i want to hit for my portfolio. If i hit that number like what happened recently with amc 2, i was invested into that stock since about four dollars.

But i always set a price target, told myself look if it hits this i'm selling. I can't get greedy in a market like this because that's when you get burned - and you also have to realize when you sell it's gon na be hard because if bitcoin or any other asset continues to climb you're gon na get fomo you're going to say. Why did i do that? I should have held it a little bit longer, but as a responsible trader, you have to take your own portfolio and treat it much differently than what billy bob joe may be doing or your neighbor, because you just never know what may happen in a market like This now i do know crypto can be quite stressful, especially on the days like we experienced yesterday. But if you huddle through, if you diamond hand, buy up the dip, you will still stay profitable in this market and, like i said ethereum's only at thirty five hundred dollars.

We were just at four thousand dollars most recently, but we're not too far off from all the tremendous amount of movement we made, and i would not be surprised, look out for this. I would not be surprised if cardano continues to rally back up. This is another buying opportunity for the dip. So, even if we take a look at bitcoin, even in the last all-time high of the charts, many people are getting so much fomo and they're kicking their cans when bitcoin was sliding under the market.

Sentiment was terrible. We're having red, fearful days almost every single day for weeks straight and looking back now, everyone's like man. Why didn't i not buy up this dip right here with especially the rally that we experienced now uh. The bears were getting louder every day.

They were saying. Oh bear market bear winter time. Winter, see like you're gon na hear different distractions in the market. But if you stay true to the course is adoption for bitcoin slowing down no even today, actually, ukraine announced that they're gon na go ahead with legal tender for bitcoin.

As well, we have stories just like this, and then we hear about institutions still working diligently on the back end moving forward in order to have some of their assets in crypto as well. It's just not going to slow down. If you have concerns about fud with the sec, if you have concerns about anything with regards to the market or even the bitcoin environmental concerns that always happen to come up whenever bitcoin starts to rally, you got to notice that whenever we get massive massive change in The system there will be resistance, there will be manipulation, but if you are able to stay the course on this, there's a reason why i say my future millionaires in these type of videos. So, if you're watching this video up until this point comment down below light bulbs, so i know you made it all the way till the very end.

In addition to that, don't forget to check out the links down below in the description. If you guys need a discount, if you're trying to get a little bonus with some platforms or exchanges, i have some great links that you guys can check out down below like surf shark 83 off three months free. If you can't have access to certain exchanges, you just want to protect yourself or you want some additional netflix category libraries. By changing your location, you can check out surf shark 83 off three months free using my link down below follow me over on instagram.

If you haven't done so already, link down below at credit, brian they're gon na be fakers impersonators scammers that end up dming you with a fake version of my account with fake followers fake likes, stay aware of that be very cautious, because i will not be actively Dming y'all saying hi: did you invest into bitcoin today check out we're not going to be doing that, but we are going to be doing, is going to be opening up some more additional spots to our patreon, because y'all have been absolutely crazy about that and have Been asking me day in and day out, brian, when are you gon na open those additional spots up so check out the link down below if you guys have been trying to get into the group, because i have opened up some more spots at the time of This recording thank you to all members inside the community. We've been having some extremely good conversations going on, and i appreciate every single one of y'all for viewing this video here today. Thank you all so much again for tuning by. We will have another update very very soon, but in the meantime, take care have a great evening wherever you're, watching this from and peace out,.

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