So, according to this sunday's research report from glassnode, the current bear market is arguably the worst in the history of cryptocurrency. In today's video, we'll examine glasnost's latest data report on why they have this belief and provide some reasons as to why this may not actually be some bad news at all. On top of that, we're going to be providing you an update with, what's going on with celsius and their possible bankruptcy alongside some other crypto exchanges that you want to make sure you're ready for anyways. It is great to be back home.

Just came back from new york city last night and like the usual, if you guys are appreciating these consistent daily market updates, don't forget to drop a like down below subscribe if you haven't done so already, let's hop into this market update for today. So in this week's market open the nasdaq went ahead and dropped 0.6 percent. The dow jones fell 22 points and the s p 500 slipped 0.1, following the best day since 2020, on friday, now bitcoin traded above the 21 000 mark all weekend and even got as high as twenty one thousand eight hundred dollars as it closed out. Another green weekly candle now the price has since dropped back down below the support level earlier this morning, currently we're seeing bitcoin trade at twenty thousand seven hundred dollars at the time of filming this video and on the four-hour chart, bitcoin's rsi is currently at 45 and Is nearing its 100 moving average or that purple line keep in mind, it also hasn't traded above the 100 moving average since june 10th and bitcoin will most likely meet its resistance at this price level.

Now, looking at the weekly chart, bitcoin currently has an rsi of 26 and is still trading below that 200 weekly moving average, and since it fell below that support level, it's also been unable to retest it, but it did come close in the past two weeks. Now going into the meat of this video, let's talk about what glasstone has to say because apparently 2022 is going to be the most significant bear market in digital asset history. Just a reminder: bear market lows have historically been established with bitcoin drawdowns of more than 75 to 84 from the previous all-time high, taking roughly around a duration of about 260 days in 2019 to 2020 to 410 days in 2015.. This data shows that, with the current drawdown, reaching 73 below the november 2021 all-time high and taking a duration between 227 days and 435 days since the last full bear markets, we've seen this bear market is now firmly within historical norms and magnitude.

Keep in mind the first and most obvious indication of a bear market is when the spot price of bitcoin falls below the 200-day moving average and then in even more extreme scenarios, the 200 weekly moving average. This is why we cover moving averages because we're using now this as a historical data, point to get a better idea of what may happen in the market. So taking a look at this graph, the blue line here indicates the 200 daily moving. Average glass notes has also demonstrated that falling below the 0.5, the mayor, multiple, the mm, is actually an exceedingly rare occasion that hasn't happened since 2015..

Now this report here states that only 84 out of 4, 160 trading days or 2 percent have recorded a closing mayor. Multiple value of below 0.5 now, if you're, asking yourself brian, what the heck is mayor, multiple, is this john mayer's, multiple thing? No, it is not. This is mm factors which, in price changes above and below the 200-day moving average show either overbought or oversold conditions. Now the next significant bear market indicator is when the spot price falls below the realized price and this forces traders to sell their coins at a loss.

This year comes from the effect of what you might be hearing a lot, which is typical of bear markets called market capitulation now keep in mind. This is only the third time this has happened in the last six years and the fifth time it's happened since bitcoin's launch back in 2009.. Spot prices right now at the time are also trading at an 11.3 percent discount to the realized price, signifying that the average market participant is now underwater on their position. We also got some additional data shown below in this graph that bitcoin investors collectively locked in a loss of 4.234 billion dollars in a single day or a 22.5 increase from the previous record, which was set back in mid 2021..

Now, although it does make sense that the crypto market grows over time, investors will lose more money at scale, but keep in mind the net loss of 4 billion is still pretty severe, even amongst this bear market here. So, although it is true, the news may not be looking good. This bear market, it seems rough, i will say not all. The news here is bad, so, with bitcoin currently trading at around 20 000, a lot of investors here are going into buying up the dip and actually coming to the realization that this is their one opportunity to be able to buy a bitcoin and hold one full Bitcoin so on june 20th coin telegraph went ahead and reported that the number of bitcoin wallet addresses just containing one.

Full bitcoin has now increased by 13 091 in just the last seven days, even more recently, between june 15th to june 25th, the number of total bitcoin wallet addresses holding more than one bitcoin grew by 873.. So why is this good news at all? Well, it actually shows that smaller retail investors are not the only ones accumulating bitcoin positions and that the number of bitcoin addresses holding more than 10 000 or more has now spiked to a hundred. This suggests that, yes, people are buying up the dip. People are trying to still continue to accumulate this asset, but it's also showing us that whales and retail investors alike are both buying up the dip too.

Now, although the data from glass node already confirms what we know we're in a crypto crash, things are not looking good and we're going through history right now, probably one of the most historical bear market opportunities that we will see, i will say for any smaller investor Who used this opportunity to continue buying up the dip and even accumulating one whole bitcoin? I just want to say congrats, because that is still a huge achievement right there, and many people wanted to have one bitcoin back when it was at 65 000 and they knew that it was out of the realm of possibility. People here are still working past. Their fear going in huddling and waiting till the market rebounds because they know that they will be in profit, then now ending up the month of june, going into pretty much the halfway mark for the year 2022. I will say this week's investing strategy should remain the same.

Continue dollar cost averaging up the market continue buying up little by little, and on top of that, please don't get overwhelmed by the market. Fud and negative bearish articles before you know it. I do believe at some point. We will see the crypto fear and greed index showing some more green back in the market.

We will see some bullish activity and by then you'll know that you made the right decision now. At the same time, i don't think you should be beating yourself up if you haven't been buying up the dip, if you've just been waiting on the sideline, there's plenty of investors still holding on to cash just because we are going through some unprecedented times as well. The biggest thing to do is to continue doing research to continue learning what the markets are going to do, because long-term markets win long term. Everything is in a cycle we're in a bear market cycle right now.

This is opportunities to buy when we go back up. That is when you want to sell, and that's when you want to cash out, maybe take yourself out to a nice lunch or dinner or treat yourself to one of those extravagant purchases or investments that you've been wanting to make big headline right here. A couple weeks ago, the cryptocurrency lending company celsius went ahead and froze its client accounts, so this involved suspending all withdrawals, swaps and transfers on its platform in an apparent liquidity crisis. As the entire crypto market came to a stumble now, celsius went ahead and cited quote extreme market conditions for the suspension with straws, but has still not yet offered any way for customers to be able to take their money out.

Now it's been reported by the wall street journal celsius went ahead and hired restructuring consultants from the advisory, firm alvarez and marcel to advise on a possible bankruptcy filing now we mentioned this last week that it is very possible. Celsius is going to go bankrupt and if the situation does worsen, i do think goldman sachs and other banks are gon na, be ready to capitalize on the opportunity for them to either buy up this company bail them out or get some type of incredible deal. We also got full confirmation that goldman sachs plans to raise two billion dollars from investors to purchase hugely discounted digital assets from celsius should the latter file for bankruptcy too. Now keep in mind.

Goldman sachs did take a pretty unique turn within the market and while things were still going down, they went ahead and decided that they were going to step in to the crypto world, talk more about metaverse and web 3, and they also had some funds which were Getting raised to acquire digital assets where they were even having conversations with ftx for derivatives or bitcoin backed loans and other crypto related offerings within their exchange. Now what this means for us, consumers, let's focus on celsius if they do get bailed out from the bankruptcy the customers. I believe here, including myself, are still going to be screwed, no matter what, if celsius, does decide to sell their digital assets at a huge discount? They still will not be able to cover or reimburse all the customers who trusted that company with their money. Now maybe they might do something similar to what tara luna did and reimburse the smaller accounts first or something similar in that nature.

But i do think it is going to be a long shot for us to see our money back, but i do also hope at the moment. This is where the government can step in where some of these big banks come in and they are also able to get our money back too now, in terms of our next headline, i thought this was really interesting. Well, dokuan, the guy. I don't even know what he's up to.

What could he be up to right now? Is he is he enjoying his life? Is he waking up worried well right now we actually have a reason why he may be a little bit worried why his uh his morning might not have gone too well anonymous. One of the biggest hacker groups went ahead and came out with a youtube video with a direct message to dokwan. So if you haven't seen this video, just to sum it up anonymous, went ahead and pledged to make sure that dokuan is going to be brought to justice as soon as possible. They went ahead and explained the list of quan's alleged wrongdoings, including cashing out 80 million dollars each month from luna and ust before the collapse.

They also mentioned that there is no doubt that there are many more crimes to be discovered in his trail of destruction. In their last message, anonymous went ahead and stated: we are looking into dokwan's entire history since he entered the crypto space to see what we can learn and bring to light, they said: do kwan if you are listening. Sadly, there's nothing that can be done to reverse the damage that you have done at this point. The only thing that we can do is hold.

You accountable make sure that you are brought to justice as soon as possible. Now i will say there have been a lot of mixed reactions from the crypto community. Today, some commenters from the video called anonymous the modern day, robin hood, the batman. You know the vigilante, while others criticized the hacker group for issuing an empty threat against kwan and really providing no new information to the public.

My thoughts on this is well any time you mess with the people. Anonymous is one of the groups that seems to step up. This hacking group also has declared a cyber war against russia before in the past, for its invasion of ukraine in april, and has also been successful in taking down several russian government websites before they did state that they would hack and release confidential information until russia stopped. The war in ukraine, and although russia's notorious for having some of the world's best hackers, they still have not found a way to stop the group anonymous now, although dokwan is now being investigated by multiple governments, they now have anonymous right on their tail right on their Back so i really think it's a matter of time until deo quan, something's gon na happen.

I think some conspiracy is gon na happen or he's just gon na spend a long time in jail. I don't think in a situation where everyone's looking for him he's gon na be able to pose as a flight risk. But who knows we're still seeing the story unfold and there are just a lot of people who are losing even more and more money. During these times, i just want to say it sucks to see all the crap in this market getting flooded out, try to see it as a good opportunity if we had a bull run and luna just kept going up, the damage could have been even worse.

This major market liquidation is what i see as a good way to flush out all the parasites, all the naughty boys, and now we can head up and know if we do get another bull market. It's going to be off of good, healthy foundation. Now guys with that being said, not much else is happening within the market. Still under one trillion dollars, the volume is still very low: 54 billion dollars, yeah we're getting some random pumps within the market, tara, classic usd up 95 we're still seeing on the relatively flat days all coins going up and still people being able to make a profit.

So just know that even amidst these bearish times, if you have free time, if you're still trying to find ways to make money, there is volatility in the market which is opening up trading opportunities for anyone experienced there now, the off chance, you guys are trying to Invest for the long term run, and you want to start your dollar cost averaging soon make sure that you guys know about being able to invest into crypto using a fully tax-free account called the ira. Most of you guys may have heard about a 401k, a roth ira and the benefits that it comes with, but did you know that you can actually invest using crypto into your roth ira account this means if crypto does go to the moon. You have a 5 to 10 or maybe 15 year account. That means, instead of paying what 10 20 30 50 100 000 a million dollars in taxes.

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You can also earn a hundred dollars into that ira account just by signing up and leaving your account funded for 30 days. Thank you all so much again for watching this. Video don't forget to follow me over on twitter and my instagram. If you guys have not done so already, i'd love for you guys to join me there, and on top of that, if you guys are looking to get access to a private membership group, a patreon group check it out link down below for the description as well.

For that, i'm back in town secret code word, if you guys made it all the way back to the end of this video, it's going to be home a comment down below home. You guys made it all the way till the end have an amazing monday and i'll see y'all tomorrow, peace out.