So, on monday, we saw bitcoin hit seven straight weeks of losses for the first time in its history and even yesterday the crypto fear and greed index was at an all-time low that we hadn't seen since march of 2020.. Now, despite all the fud spreading across the financial markets in today's economy, there are right now still some early signs of the dust settling in the crypto market. Now that investors believe that the worst of the tara luna collapse looks to be over. So in today's video we'll cover a few of those critical metrics signaling that we might be reaching the bear market bottom and give you an update on the future of crypto regulation.

On top of that, we're going to discuss some of the major headlines in the market for today and if you guys do appreciate these daily market updates, don't forget to like this video down below subscribe. If you haven't done so already and with that being said, let's let's let's what am i trying to say - let's hop into the computer and see what is going on in the market for today, all right, so the global crypto market cap is sitting at 1.24 trillion Dollars at the time of filming this video, that's about a four percent increase, since we saw yesterday with the same amount of volume in the last 24 hours, and the reason we're getting this downhill descend right now is because mainly bitcoin has slid that same amount. So just yesterday, bitcoin dipped under 30 000 as traders and analysts assessed the potential economic effects of the statements made by federal reserve chairman jerome powell. Now jerome powell was among the wall street journal's future of everything festival speakers and he pledged to keep tightening pressure on financial conditions.

Until inflation showed some signs of weakening. He mentioned he will back interest rate increases until prices start falling back towards a healthy level, and he also quoted if that involves moving past broadly understood levels of neutral. We won't hesitate to do that now. Back on tuesday.

He also went ahead and repeated his commitment to getting inflation close to the federal reserve's target of 2, and he also cautioned it might not be easy and could come at the expense of a 3.6 unemployment rate. So all these things are great for controlling inflation, but could this have some severe impacts on the economy and the question is: can powell hope to achieve their inflation goals without actually tanking the economy? Well, this question came up and he had a response to it where he stated there could be some pain involved to restoring price stability, but he also said that the labor market should remain strong with low unemployment and higher wages. He quotes achieving price stability. Restoring price stability is an unconditional need, something we have to do, because the economy doesn't work for workers or businesses, or anybody without that price stability.

That comes first. So here are my thoughts on jerome powell's speech from yesterday and just kind of like a tl dr on what you guys should know. First of all, dronepal didn't really add anything new that we already didn't know, but he gave us confirmation and reminder of what's still come to the future for this year. Now.

What that is going to be is that the federal government is going to do whatever it takes to hit their goals, and that may come at the expense of the us economy and even potentially a recession. Now only time will tell, and we can only hope the federal government knows what they're doing, because bitcoin even right now continues to trade just below 30 000, and there are still many metrics that people are looking at in order to gauge whether or not that recession Is looming near now, since yesterday i will mention the crypto fear and greed index which, for anyone who doesn't know serves as that cross-market sentiment gauge hit a score out of a hundred and eight. Today, the crypto fear and greed index moved over to a 12., and i do need to mention that this has been some of the lowest values since march of 2020, which was actually a period when the entire pandemic had expired. For anyone who doesn't even remember march of 2020 - because i know the world is moving fast, that seems like forever ago, but back then bitcoin was at an all-time low of near 3.

800. Now a lot of people tend to just hear the crypto fear and greed index. Oh brian, i see it's in the extreme fear. Let's move on the fear and greed index.

I want to mention this is critical for the crypto community to know and have an indicator on what the general market sentiment is to get an idea and reading on what you should be doing in this market. These lower readings indicate that investors right now are skeptical of getting involved in the crypto market and oftentimes when we see repeated days of extreme fear, that is when we see a new reversal happening within the market. You also want to take into consideration that this extreme fear is going to attract a lot of buyers who have been waiting for this market to be shown as extremely oversold conditions as well to buy and hold cryptocurrencies in the long term run now, according to sentiment. A behavior analytics platform for cryptocurrencies sourcing, on-chain social development, information, bitcoin's idle addresses, have become more active this past week and their age consumed.

The metric is showing that there are massive spikes coming in during bitcoin price drops, specifically between the range of twenty six thousand dollars and twenty nine thousand dollars. Now the age consumed shows the number of tokens changing addresses on a certain date, multiplied by the time since they last move and the spikes on the graph actually signal a large amount of tokens moving after being idled for an extended period where weak hands or those Paper hands where many people like to call them are exiting those positions. Now, brian, you know, there's a lot of charts and graphs, and you know some of this. I don't really care to understand.

Why is all this important just give me the lay down? Well, basically, the token aged consumed metric has a reliable indicator to spot price direction. Reversals also in the medium to long term, run all right, and also on top of that, i came across this graph from glassnode and it's interesting because, due to the recent market crash, the price of bitcoin is now trading to the closest it's been to its realized Price since 2020., now for people who don't really understand bitcoin's realized price or what this means it's pretty much just the value of bitcoin at the price they were bought divided by the number of bitcoin in circulation. What this formula gives us is the average cost basis at which all bitcoins were purchased now. This graph here is relevant now because a realized price has historically provided also to us sound support during bear markets, and it's also provided signals of where market bottom formations formed market bottom formations form.

Hopefully that makes sense. In previous fair markets. We saw the price of bitcoin trade below its realized price for extended periods, but the amount of time has decreased every cycle with bitcoin only spending, seven days below its realized price during the bear market of 2019 and 2020.. Now i want you guys to also keep in mind that this does not mean that if bitcoin goes below its realized price in this bear market, we will see it recover within seven days exactly this data, let me say only covers four bear markets, and it's not Enough data to make accurate future predictions, but it is something to keep in mind.

I do think history tends to repeat itself and although it may not follow this exact linear path, every single time, because there are always different circumstances going on, i don't think many people expected a pandemic like this to continue affecting us for the upcoming years. But it has if it does follow any type of history we have seen before, and it takes into consideration that black swan event. Then we could get an idea that maybe we are seeing that bottom come in soon now, before we go into some of the headlines in terms of crypto users, reacting to terraform's lab legal company actually leaving their company, let's actually go over just real quick. Some of the all coins that i'm seeing in this market some deals that maybe you want to consider and thus more so first of all, ethereum is sitting at 1900 at the time of filming this video anytime ethereum slides under 2 000.

I still think this is a great long-term opportunity, especially because for me personally, i still have price targets of bitcoin being on the minimum of five thousand dollars once this market starts to pick back up, and i do think there's strong possibility of that. We know that ethereum is continuing to be used and even as an example, if we go into d phi llama and we pull up ethereum yeah, they had some major liquidations also happening before, but i will say that they still have an immense amount of volume locked Within this project they still have the ethereum 2.0 mergers uh coming up very soon, and this is just one of the cryptocurrencies where, even if it goes down in price, you can always find utility within the nft or still the d5 market. Most cryptos are still taking a beating uh, just because bitcoin has also gone down. We're seeing solana opening back up at the 50 support level.

Once again, we have avalanche at 30. I mean not much has changed, really we're just still seeing rather strong consolidation within this market and we go into the top 24-hour winners. We don't really have too many uh green cryptos. We have chz up about 7.56 percent and that's about it.

If we pull it back to the biggest losers, kda is taking a massive hit today about 18 down. Ksm is down about 13. The stepping token is down 11 gallon games down about 10 and then, even in the last seven days, yeah we do have some winners. We have eight points in a little bit of a recovery in the last week, but even today, while bitcoin goes down, we are still seeing the effects of coupling in the market, the opposite of decoupling, where assets would separate anytime, bitcoin goes down.

All coins go down anytime, stock market goes down, bitcoin goes down, and then we just see that entire domino effect continuing to take place. Now, taking a look at tara luna, we are back at point: zero, zero, zero, one, seven six cents for the day and in the last week i mean not much green has happened with this asset at all and they haven't been getting any better news either. So to kick off some of the major headlines for today the crypto users - investors, like you and i are now seeing the effects of what has happened within the market and terraform labs. Legal team has reported leaving their company.

What it looks like now is many people who are aboard at the dokuan and tara luna project ship are now jumping it abandoning it because it looks like it is sinking and if people don't want to say it has not yet sunk to the bottom. Yet it is very near close to that the singapore-based company has now turned to outside council to assist with legal matters, since their in-house legal team is now pretty much resigned now, according to their linkedin profiles, terraform labs, general counsel, mark goldich, the chief litigator and regulatory Council noah axler and then their chief corporate council lawrence florio have all stopped working for the blockchain firm. As of may 2022. - and i will say this past week has been challenging for the terraform.

A labs team and a small number of their members have also resigned in the recent days now following the destruction of tara's own ust stablecoin, also based off of an algorithm compared to usdc. A lot of people are asking me questions what's different, how come other stable coins aren't going down it's because they are still reserved backed while ust was actually algorithmic backed well. There was another d5 coin called dei which actually went down in value, and this is also known as deuce finance, and this is one of the latest algorithmic stable coins to suffer the same fate. So deuce finance uses two tokens called deuce, which is the project's native governance token and die, which is its dollar pegged stable coin.

Now, back on monday, dye went ahead and failed to maintain its dollar peg as a hidden all-time low of 52 cents, and its market cap also followed dropping from almost 100 million dollars to around 52 million dollars. Now i don't know how many of our viewers would be. You know even involved within the stable coin, so we're not going to go into the full details of this entire matter, but i'm just going to say this: we are now seeing the dangers of algorithmic stable coins where right now it seems like they are much more Prudent to being vulnerable to a lot more attacks, even right now we're able to get some of the larger banks, like goldman sachs, giving their own opinion on this entire matter between the stablecoin market. Goldman sachs stated that for algorithmic stable coins to have a long-term future they're gon na need to find wider adoption for payments in the real economy.

They quote here. Stable coins have limited use as a payments medium at this time, and if that real-world use case were to grow over time, it could create a more stable demand base for these assets. Now the bank also pointed out that stablecoins fulfill a need in the crypto market by allowing investors to trade into a less volatile asset without the friction and converting to fiat currencies. So they also quote that, unsurprisingly, algorithmic stable coins share many of the vulnerabilities of pegged exchange rates, including the risk of speculative attacks.

This is precisely what we had seen happen last week with tara luna anytime, the price went up slightly. The investors just kept dumping. Their shares because they knew the price would continue to decrease. Now in yesterday's update, we talked briefly about some of the crypto regulation that we should see, but where are we now with it? So, according to rudders the world's leading economies, which include the countries of canada, france, germany, italy, japan, the uk and the usa, and even the european union, we might consider they might consider imposing a regulatory framework on the crypto industry during their g7 meeting, which is coming Up today and leading up for the next two days in germany now this subject was added to their official agenda because of the entire turbulence in the market that we saw happen with the ust at luna drama.

Last week the head of the french central bank also quoted last week. What happened in the recent past is a wake-up call for the urgent need for global regulation. On top of that, u.s treasury secretary jeanette yellen urged congress to pass a new regulatory framework quickly and for pennsylvania, senator pat toomey, the top republican of the senate bank community, to hold a press conference touting his legislation in this area. Now we know that stable coins can be risky, especially what we've seen from the last week, but stable coins have also proved to be a competitor with banks and other financial institutions.

So now a lot of regulators are seeing this as an opportunity to maybe confine it. Maybe not allow the opportunity for this to continue growing, just so that in the case that they want to have their own central bank currency or their own stable coin, this is going to be the time for them to do it too. Now, let me know how you guys would feel if the government had its stable coin, because i think there are still some benefits and both disadvantages where federally regulated stable coins have some of the advantages of being able to have that backing and be verified. And you know it wouldn't be as dangerous as an algorithmic, stable coin held by a decentralized project, but i will say at the same time, whenever we have the government reaching their hands into the cookie jar.

Sometimes they take more than they should have. So, in terms of the next headline, robin hood is actually diving deep into the world of crypto and they announced yesterday that the company is going to build that non-custodial wallet and that's going to give customers complete control over their crypto assets, while still being managed on The back end by robin hood, so this all happened yesterday, where the ceo of vlad went ahead and teased that web 3 crypto wallet at the permissionless conference might be coming soon. Now we got further word that the company is currently in the process of rolling out wallets to millions of users and plans to trot out beta versions of the wallet over this summer to make them widely available by the end of the year. Now i know most, you guys probably have robin hood and i will say that the best feature for all of this that's going to impact us is going to be able to trade and swap crypto without any network fees.

The cto robin hood in an interview yesterday said that the new wallet is going to seek to replicate the no fee model for which the company has always been known, for i know a fact that ethereum gas fees and anytime someone's trying to swap cryptocurrencies or buy Nfts these gas fees add up and they really do affect a lot of people. So it's just amazing, seeing robin hood being able to see a problem within the market, seeing that as an opportunity for them to get back in the space and then being able to maximize to help out their users of the platform. Now, even though this is their goal, i will say it's not yet clear exactly how robinhood is going to achieve the problem solving within this case, but it has been reported that part of robinhood's solution is going to entail partnering with liquidity partners to be able to Get the best price for their users. It's also quoted here that the company is pushing full steam ahead with its crypto based vision of the future, and this might also be related to why ftx's, ceo, sam bankman freed went ahead and bought such a huge portion of robin hood's stock alrighty guys so a Lot's still going on within these markets, regulation is coming about and more than that, it looks like we're still seeing the further developments of what's been happening, with the tara luna situation and in between that the market is still consolidating.

It's still within its range, and it looks like bitcoin needs to have a breakout at some point soon, with the data that we covered earlier. I do think there's a strong possibility that we could see a reversal at happening some point this year. Okay, a lot of the data is lining up, but just because data shows something from the past, it doesn't necessarily mean that is 100, what's gon na happen in the future, with the uncertainty and the volatility that we're still receiving from the market. I still am such a strong believer within the crypto market.

I still find opportunity everywhere that i look right now, because asset prices are going down. I have not invested into crypto just to make a quick buck in the next month. I'm invested into crypto for the long term run i'm investing to crypto for myself my future family, my generations of the jung dynasty, the clan expanding, and i do believe that all the efforts and the efforts that you guys make right now are going to have a Drastic long-lasting impact, just like we hear some of the most og crypto users talking about the crypto winters happening in previous years. Right now is just going to be another one of those stories now.

The question is: are you going to sell at the bottom of this market and end up being like one of the investors that have said you know i went through the crypto winter i sold all of it, but if i held it would have been worth. You know x amount, tens of thousands, hundreds of thousands or millions of dollars. I do not want to be that person ever at all if we're gon na be in a crypto winter and it lasts a month six months a year. I have no problem holding out we're just going to continue to create more businesses, look at other opportunities and keep studying the market, because at some point we are going to get a lift off.

At some point, we are going to see the adoption of this market. Continuing to expand, and even though right now things are not looking good, all these other asset classes continue moving down. This is where the biggest amount of opportunities are created within the space. Now i do want to mention for anyone who needs the funds, because if we do happen to go into a recession and we see signs of assets continuing to go down, it is never an issue for you to.

You know deal with your own personal finances. That's why personal finance called personal finance. It is personal to you, but just make sure that you are at least still studying the market and that you are cautious and wise about the moves that you make now guys before. We wrap up this video.

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You can find yourself earning free crypto as well. Now, like always, don't forget to check out the links down below in the description where you can also find me over on twitter and my instagram. Now, if you do follow me, there watch out for impersonators and scammers that will probably follow you and dm you, and on top of that i do have an exclusive discord. If you guys want to check that out, link for that will be down below in the description where you can get access to my research, my buying cell alerts, my portfolio, some things i'm looking at as well as access to our technical analysis and a community of Like-Minded investors as well now the secret code word for today's video is going to be flower comment down below, if you guys made it all day to the end.

Thank you all so much again for watching this video and until next time, i'll see y'all soon peace.