Now reality can be whatever i want surprise. So, just three months ago tesla announced an sec filing that they would be buying 1.5 billion and accept bitcoin as payment. Since elon's announcement of this news, we saw the rise in overall cryptocurrency prices. So just last night elon musk went ahead and came out with this tweet right here in the tweet.

He said this tesla has suspended vehicle purchases using bitcoin. We are concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost of the environment. Tesla will not be selling any bitcoin and we intend to use it for transactions as soon as mining transactions to more sustainable energy.

We are also looking at other cryptocurrencies that use less than one percent of bitcoin's energy per transaction. The musk then added a chart based on data from the university cambridge on a chart of energy usage trends, which resulted in bitcoin plummeting over 17 just last night. So did elon musk really cause bitcoin to take a plunge. Is he doing this because tesla stock has been tanking and he wants all of us hurting with him? What does this mean for the entire crypto market? And finally, what should you be doing as a new investor? This video is going to focus more on what actions you should take now, rather than trying to dissect elon musk's brain on the.

Why? Because sometimes elon just makes decisions that nobody really understands. What's up my jungi people welcome back to another video. So, although this really doesn't look like it could be any good news, there is a silver lining to this mess that i will be teaching you throughout the course of this video. If you have not yet hit the like button, make sure you consider doing so.

That way, youtube will recommend more educational videos just like this, and it also helps out this video get pushed out to others as well. The more people that understand what is truly going on the better the market sentiment will be and the faster crypto can be adopted, meaning more attendees for all of us. I also see that a large majority of my viewers are still not subscribed and youtube actually tells me which one of you commenting on my viewers are truly a subscriber of this channel. If you want to increase your percentage of a direct response from me, it will definitely help if i see that you're also subscribed to the channel.

With that being said, don't forget to check out surf shark, where you can also get 83 off and three months free. Just by using my link down below, if you want improved performance, enhanced computer security and to protect your identity, which i'm telling you is so so important in the year of 2021, check out surf shark. One of the best providers in the game with a fire discount. For my viewers, only on top of that block fight is giving jungi viewers 250 back.

If you use my link down below in the description block by is pretty much just a savings account for your cryptocurrency and if you already have some money invested and you plan on investing long term, you might as well earn some free additional interest right now. They're also having a special promotion where, if you choose hey bitcoin's kind of volatile - and you had some money sitting around, you could actually invest your money into their stable coins. That's giving you 10 right now, 10 apy crazy! So we'll talk more about that. At the end of the video, but for now let's hop into the computer and talk about what's going on in the market today, all right so for today's crypto global market cap we're seeing 2.19 trillion dollars or a 9.26 percent decrease over the last day.

So, on top of that, the crypto market volume over the last 24 hours is 336 billion, which makes a 50 increase so we're seeing more volume. It doesn't mean that this is necessarily a good thing, because a lot of those volumes are gon na be cells from the over exaggeration that we're seeing in today's bull market, which we'll touch upon a little later, but guys bitcoins dominance is still going down. Surprisingly, especially with all the news, it does make sense because bitcoin in particular, is taking one of the hardest hits since elon musk's tweet. Yesterday, bitcoin is currently down 10 right now, at the time of this recording and they're sitting at 48, 415 or down 15 for the week, ethereum is now at 3 600.

At the time of this recording, i kind of want to stop recording and buy some ethereum right now, because this is a really beautiful sale. I call it a fire sale right now in my book and it's something that i'm going to be acting on for any of my inner circle, patreon and discord members. You will be alerted on any of the buys that i do over the next few days by nance coin down 11, but check this out guys cardano. So the beauty about layer, 3 implementation, cryptocurrencies, the ones that have been considered, the hedge against other cryptocurrencies like ethereum.

They stand the test of time, so we talked about this on my channel. This has been mentioned in literally the last four videos ethereum, whenever this goes down, expect cardano to either fight that resistance or to move away from the average of what some of the top cryptocurrencies are doing so cardano 1.90, we're getting very close to that two dollar Mark and when we do, when we do, brian zhang will be getting some tacos. I've been craving some tacos around my area. Lately i just wan na i wan na celebrate so cardano's at a dollar, eighty-nine cents right now or dollar.

Ninety cents keep your eye out on this guys for anyone who did enter this trade within any of my top crypto pick videos. Congratulations because you know you're still in the green, in a mist of a huge red market, dogecoin is back down to 38 cents. Today, it is definitely hurting from the last all-time high of 75 cents down another 13, seeing a lot of smaller youtube channels, saying how dogecoin is going to recover, haven't yet seen that i i'm i'm hoping dogecoin goes up too. I have a decent amount invested into doge.

I don't expect anything crazy to happen until maybe next week i'm still holding my position because i don't want to be getting rid of any of these gains. I do still see a lot of potential with doge, although the initial hype and the sentiment has decreased drastically now xrp. They are down 24 this week or down 7.6 percent today, which actually hurts polka dot, still doing what polka dot has been doing. For the past few weeks, trading sideways still consolidating.

I still see a very good opportunity right here with this cryptocurrency icp down another 4.7 bitcoin cash down 15 today crazy. So it looks like as much as these other cryptocurrencies that relate to bitcoin rise. They fall just as fast, so i'm telling you if you think this is a scary time in the market. Keep watching this video because you're going to be learning some new things so chain link right now: 41 32 cents coming down 16 for this week or 9 for the day man, when chain link was kissing that 50 and hitting that next little level of resistance.

It was definitely a great sight, especially for anyone who's been holding chain link. As long as i have, which has been for multiple years, my average cost with chain link was back at 15 when i first entered so regardless what happens with a cryptocurrency like this? I still see chain link hitting at least a hundred dollars as my price target for the end of this year. I will continue to adjust that we're gon na have to see, especially with how bitcoin performs, but i'm gon na still hold on to that one. As what my target is chain link is one of my favorite cryptocurrencies now stellar, it looks like stellar is coming down from that all-time high and those amazing percentage uh returns that we've seen alongside v-chain.

So two of my favorite cryptocurrencies stellar and v-chain at number 15 and 16 - definitely taking a little bit of a hit, but man they are not taking a hit as strong as ethereum classic, which is now at 82.91. Wrapped bitcoin down 12 and the overall market looks like it is just down today. We also have kusama 13.9, but guys. Let me show you something real interesting, so we see a lot of red right right, right, boom check this out nano it's been on my list.

It's been trading at nine dollars, they're up 93 today, if you guys have been paying attention to me in our private discord chat. You guys know that this has probably just made you your money back all day today. So nano has been one of those cryptocurrencies that has been going against what the current market trend has been doing as well. This is why i really love nano.

The last time we saw flash crash. Nano was literally the one cryptocurrency that was standing the test of time against all forces of nature and doing well. So today, in one of i would say, intense red bear markets, i'm not even going to sugarcoat it it's pretty bad 10 down it's a little juicy. It's a little bad today, nano up a hundred percent be on the lookout for this as soon as it pumps up, i would not buy into this right now, but as soon as it comes back down, this is going to be another one of your hedges against The entire cryptocurrency market not having a good day so definitely on the top of my list, take a look there as we continue scrolling down it's just going to be a lot more red.

Now, let's see our 24 hour percent increases nano kusama, the top winners, cardano and polka dot. It looks like most of the meme coins are not having a huge increase. I do want to check up on the price dogecoin, like i said down 14. So here we are within the meme tokens.

Here's what's really interesting, dogal on mars up 111. Today they are doing fairly well in this bear market as well. We have shiva inu that is down 9 today, which is not too bad of a dip they're still up over 1100. This week now, with meme coins, it's still really a hit or miss.

I feel like meme coins are getting selected by social media influencers and the mass public in different ways, so we saw dogecoin pump up right after dogecoin. It was shiba. Inu right now looks like dogalon mars is coming up. We just got to figure out what could be next on that, but as soon as the public sentiment changes and people don't know what that next meme coin is gon na, be that is when we're gon na start.

Seeing the prices of these cryptocurrencies start falling back down, because, as you know, social sentiment is the biggest important factor the hype. What people are talking about, seeing if this would still be relevant or cool by the end of the year, is what is going to drive. The prices of these cryptocurrencies, ultimately more paths of what they're trading at right now so safe moon is down 17 alongside most other meme coins in the market. Today, all right, so the main question that people have is did elon musk, really cause bitcoin to tank.

Now, although elon's tweet was really a catalyst to the correction we saw last night, i refuse to believe that his tweet was the sole reason for that significant price action. We saw if one tweet was able to send a 900 billion dollar market cap currency plummeting over 17. We got some other issues at hand. Now i think it's safe to say no man should have that much power and that much influence over any type of asset class that millions of people have invested into.

So the question is: why do we see such heavy volatility with cryptocurrencies still at this stage? So, first of all, cryptocurrencies are still very early in this matter of adoption, although it seems like cryptos have this massive market cap, which it does in comparison to the growth we've seen. If we compare it to other asset classes like physical gold, we can put it into perspective that cryptos are still very very early into this space. Physical gold currently has a market cap of 11 trillion dollars, while bitcoin itself is currently trading at less than 1 trillion. Now, although the market cap on these two are very different and there is more stability with other asset classes, i would still choose cryptocurrencies because of how significantly it has outperformed any other investments or store of values by an exponential amount.

Now, let's use another example here, if say papa john's or any of the world's most influential celebrities, like brian jung, most handsome crypto, influencer and now netflix superstar, we're to say, hey. We don't like precious metals like gold, because gold mining is actually one of the most destructive industries in the world. Would that affect the price and drop it like we've seen with elon and bitcoin before we answer that question. First of all, i'm totally kidding um, especially with the netflix superstar thing.

I literally had like this iron man, sweat stain in a 4k documentary. No do not ever wear grey cashmere wool when you know you're going to be super super nervous. But going back to the point, the answer to our gold question would be no it wouldn't matter if elon tweeted about it, it wouldn't matter if barack obama tweeted about it or anyone else in the world. There have been multiple advocacy organizations against the mining of real gold simply because it is really terrible for the environment.

If you didn't know mining real gold contaminates drinking water around the area, it violates a ton of labor. Laws creates a market for illegal child labor practices and even wrecks pristine environments and ecosystems, with chemicals like mercury, cyanide and just millions of tons of waste, but because gold has been considered precious throughout ancient history, no matter how much this precious metal wrecks our planet, we Won't see the price drop overnight because of anyone single-handedly tweeting about the awareness with that asset. Now, although yesterday we saw that fluctuation in the market, the question is: is this a bad sign for crypto? Is it bad when elon can tweet and we see the entire market exaggerate and start falling? What does it really mean? So, first of all, the answer is no. This is actually very good news for the crypto community and the reason is because this we know that crypto itself has been on this enormous bull run, but we haven't really had a full cooldown period or reset that allowed the market to really catch its breath.

Instead of rocketing to the moon off these meme coins every single day or consolidating for multiple weeks, when we see a hard reset and new floor to the support line, we get these two things. So one is a fire sale. So anyone who has been unable to invest because of the tremendous rise in price now opens up the opportunity to pick up other cryptocurrencies that you can get at a discount now. The second reason why this is good news is because i imagine every correction in the market sort of like a detox to the body as prices begin to go up in traditional investments, you will always have what we call paper handers, who sell their positions when things Get a little scary now, there's no shame at all in selling your investments, and i don't even agree with shaming anyone.

We consider a paper hander. Everyone has different levels of experience in the market right and some people may not really be able to mentally function. Knowing the implications and risks of putting their hard-earned money into an asset class that is still considered very new and has been so volatile over the past few months, when we see bitcoin, take a dip and people start selling off. We lose a lot of newer investors due to the domino effect, but we rebuild on a foundation of strength that comes from investors who take their emotions out of the trade and stick to their game plan and exit strategy.

Look with the reward that you can get with investing in the crypto market right now, you're, naturally gon na see volatility. That's the double-edged sword in investing into these newer asset classes, but you still get the reward. My biggest piece of non-financial advice is going to be just hold on for dear life. These dips, we see and experience, are very short-lived and almost every time we bounce back immediately, because all the large institutions and mega whales know that crypto is not going anywhere.

It will only get bigger and they pick up these dips at a price and a discount, and we should be doing the same so picture just like this. Whenever someone sells or paper hands their trade, you have an opportunity to buy that project or token back at a lower price. Knowing it's going to increase in value in both the short term and long. Whenever we see these dips don't freak out and if you do freak out - and you make a mistake, i'll tell you this: that's okay, too, we're all still learning we're all human and all the best traders have made some enormous errors that end up saving them.

Even more money in the long run because they experienced it when their portfolio may not be in the millions of what yours could possibly be within a few years of investing in the next few days. We could see some even lower lows and the best play here will be to average into these investments throughout the course of these dips. Now i've reduced my buys over the past few weeks, expecting a market pullback just like this, and when we do begin another bull run to the upside. It's going to be insane so prepare now, so you don't get fomo in later.

I do also need to mention buying the dip is hard, it's not an easy thing to do so. Don't yolo your entire checking account into these investments average a small percent over the course of the dip to ensure you still have buying power. Just in case, we see an additional tank in the market. I also need to mention this is not the end of the crypto bull run, like some people think it is.

We've seen this time and time again, so please don't freak out. It's gon na be okay and i'll be posting all of my buy and trade alerts in our inner circle within the discord and patreon. In the course of this bull run, i started to invest back in 2018 with just a couple hundred dollars in my account now. This portfolio is worth a couple.

I i don't want to reveal it just yet because that's saved for my inner circle members, but it's worth over six figures and hopefully hopefully my goal is to take my crypto portfolio into the millions which i don't think is not outside the realm of possibilities. If you would like to join my private membership group, we will be opening up a handful of spots again, this friday, 6 p.m. Eastern time, i've received a lot of messages from our international viewers at 6 p.m. Eastern time is like early.

It's like 4 to 6 a.m around the world. So if we sell out too fast, i will open up more spots, saturday or sunday and make a post on my instagram and twitter. So everyone has a fair chance to get in. We have some really exciting videos lined up so make sure you subscribe to the channel if you haven't done so already.

What are y'all waiting for join the jung nation, we welcome all brethren and sister in to thy dynasty, don't forget to also check out surf shark. I mentioned this earlier, but just a reminder: 83 off and three months free using my special link down below cancel in 30 days. If you don't like it, but i'm telling you this is worth getting get your 250 with block fi. After using my link down below one final note, pick up your two free stocks after you deposit a hundred dollars into the app with weeble, where you can trade, both stocks and crypto.

Thank you so much again for watching today's video and don't forget to comment today's code word for the day and that is gon na, be whatever your favorite type of dip. Is i like guac? Sometimes i do salsa. Let me know what kind of dip you guys like have a great day. Thank you all so much for watching and until the next time, peace out,.