So why is bitcoin dropping? What's going on team, it's ricky with tech, but solutions? I hope you guys are having an amazing day. Well, the best day you guys can with just all this unfortunate news, uh, i'm using the weeble platform. If you guys want to learn a little bit more about it, you don't have to, but it's the first link down below uh, to earn two free stocks and be able to download this platform uh. Also, a very popular thing on this platform is cryptocurrency and, like a lot of you, guys, know overnight right what happened? Why is bitcoin following well? A lot of you guys might have already heard the news where china is restricting any financial institution to accept or work with cryptocurrency, if you guys have been in this market for a while.

First off i don't personally trade crypto, but one of the things that this kind of like brings me back to is: did this not happen in 2017? During that initial pullback, when, like bitcoin hit highs of 19 000, there was some form of like next stage that it was supposed to like go through in china and then all of a sudden it pulled on back as it got restricted or got banned, or did Not get accepted in china and then, when that happened, a series of unfortunate events followed right. All these different exchanges started to close, you know the whole big connect scheme ended up blowing out of you know, proportion where they just wouldn't allow people to remove money from their exchanges, and you just have to think about this right. There's there's coins like this is the part. That's like the most mind-boggling.

It's like you know. If you participated um in in um, you know bitcoin ethereum, like the the stable coins, to say the least. I you know you do it with a dollar amount in which you can tolerate pullbacks with right. The part that bothers me are the people that have just like the lever.

Well, i don't even know how to pronounce this elaborate coin. I don't even know what it is right. It's all these, like um coins, to say the least right we got libra uh. We got the yummy coin.

I saw that that was a very popular stock. That's down 30 percent uh. If i'm not mistaken, it was. You know jake paul and a series of other people uh that stood behind or uh, not financial advice, right uh, but stood behind this coin, uh safe mode, also a very popular there's, a number of them and there's just like there's a coin for every i i Saw that there's a very popular coin after elon's tweet last week, where he doesn't stand behind um, he doesn't think that bitcoin is where it should be to uh stand behind it as of right now.

So, due to those series of tweets um, you know dogecoin kind of pulled on back bitcoin pulled on back a little bit and because of that uh they made a series of coins that were like f elon and all these different things right. Uh. The crazy thing is, you can literally make a coin about anything and as long as you get enough people with enough followers to promote these specific coins, then i'm sure right you can. You can create that artificial demand.

There's no question and almost right for those that have traded in the stock market for a while, it almost sounds like a penny stock. It almost sounds like an otc stock uh an otc stock right um, the crazy thing about that is that in the stock market it's regulated right, you're not allowed to do that. You'll you'll, you know uh go to jail, but with cryptocurrency there's no restriction and all we have to say is you know? Why is the market as of right now pulling on back uh? It's due to unfortunate news due to unfortunate news of you know a huge part of the world right. China again does not, and it will not allow the acceptance through any of its financial institutions bitcoin or any of the altcoins right.

It just will not accept cryptocurrency, which is a big drawback. This is one of the biggest drawbacks that i've seen uh based off of one of the articles that i just read. This is the most liquidation that bitcoin has experienced since october of 2020 right and if we look at the, we can even go back to the four year chart right and i want to zoom on out over here um. I'm excited right.

The people that are freaking out right now are the people that are super heavily invested, uh. The reason i'm looking at this right now is first off. You should never buy into anything, especially as it's selling off uh, especially if you're not comfortable with it right, but one of the ways that i'm looking at it right now is, if i go in with a certain dollar amount um. This is the this is the time that makes the most sense out of any other time to get in right, because there's actually margin to be made right.

If we look at where we're at right now for the potential that it has for recovery, you know 75. Doesn't look too bad but, let's be honest, this could be in the very early stages of it. Continuing to sell off so make sure you don't think that it's just buying the dip and that when something cracks like this there's actually another article that i read when something cracks like this and pulls on back this aggressive, it literally dropped over 50 from 64.90 right. So, 64.

900 all the way down to sub 30. 000.. That's over 50. When something cracks like this, you can't expect it to recover in just two days right.

It's going to take time, put yourself in a position to succeed and that that's the whole purpose of this video. Let's be honest, you know who's another very proactive and heavy investor in bitcoin tesla and guess what i'm heavily invested in tesla right so test as of right now is down three percent right, so you guys know that uh. Thankfully you guys watched my video yesterday. I made 27 000 uh due to my long positions right on tesla pto and all that good stuff.

The market was green yesterday, but guess what tesla's down now three percent, i reduced my position size, but i'm still gon na be down about twenty thousand dollars today. As well, i'm i'm all for talking about both the green days and the red days. Let's talk about it, so you don't feel like you're alone, but i can almost reassure you for all the people that follow all these other influencers or promoters of these uh yummy coin or safe moon or they they won't talk. They won't show you how much they're up they won't show you how much they're down, definitely not how much they're down um, and i would be surprised if they actually comment on one of these things right.

One of the things that you have to understand is i don't even like blame them at the end of the day, you should be the final decision maker on where you put your money right, the same thing when it comes down to investing in the stock market Or invest in anything put yourself in a position to succeed if you're, someone that is just getting started and you go in with aggressive moving penny stocks or aggressive moving alt coins or coins whatever it is that you want to call them, then guess what? If you expect 100 return in one or two days understand that a 50 pullback or whatever it is that it pulled back today, shouldn't be much of a surprise. That's the territory that you're working with. So how can you be surprised that you made 100 in one day, but that it dropped 60 percent the day that followed, you need to understand how these markets work and i don't blame anyone that day trades them that manages their risk. That has a plan, but for those that are just getting started, let's be honest: they have no plan; they don't understand what they're getting themselves into these um exchanges that the ones that i've heard of of like now, people creating these, like these, like series of of Tutorial videos on on teaching kids on how to fund these exchanges it.

It will not surprise me if these exchanges begin to shut down. A lot of these exchanges are overly leveraged they're, allowing people to borrow money over 50 percent of what it is that they have invested and guess what times like this? When the mark, you know everything is great when it's great and everything's great, until it's not and right now, it's definitely not right. So when it comes down to being able to see ethereum and bitcoin pull back this hard, this could be the very early stages of a more aggressive pullback and when these exchanges are so overly leveraged and allowing their users to borrow 50 of whatever capital they have Invested, it literally almost sounds like the big connect scheme all over again, they're, so overly leveraged and because they all started at when they were 50 at 60 000. A share for bitcoin.

Now because it's pulled back nearly 50 percent. It would not be surprising to see these exchanges to begin to shut down to not allow users to remove their monies from their exchanges, because they can no longer keep up they're no longer profitable, because of how much they've allowed their users to lend out. It's great. In a bull market, but let me tell you this is this: is the very, very early stages, at least for what it looks like for uh bitcoin and it's cryptocurrency.

You know brothers and sisters uh for a pullback and um. I just really hope that all you guys do is put yourself in a position to succeed. We've talked about position size, we've talked about, you know only taking advantage of opportunities in which you understand and that you can, you know manage and the biggest thing is. You know a lot of this.

Just you should enjoy the process of investing or you should enjoy the process of trading. It's definitely not enjoyable. When you over exert yourself when you become an emotional mess, because you put too much money on the line and then you end up, you know um losing 30 right or what's another one. Oh this one! This one was a really fun one 41 down on the day.

Um, it's it's unreal right, um. All we can ever say is um. Just be careful with you know the opportunities in which you choose to take advantage of you have nothing but time to make money in the market, both cryptocurrency stock market, whatever markets you want to partake in uh, there's so much time to do well in these markets. It's cool, you know, i don't partake in them, but if you want to partake in these like all coins or these coins, because you think that you can get in and get out right away, then at least have a plan lock in profits.

Don't be afraid to be called uh? What is it called uh paper hands right? Who cares at least you're? Not down 50 percent talk about paper hands right, cool, have fun holding something that has no actual value. Do it right, but do your future self a favor and put yourself in a position to succeed, so i'm really excited to follow up with the overall market, both nasdaq uh, both stock market and crypto um. I've never been so eager to get started in the crypto market and now that you know there's a surplus of discounts. Um, i'm going to be selective, i'm going to do it with a dollar amount that i can tolerate, and i'm going to understand that it can still continue to sell off.

So i need to take that into consideration. I hope that this video just puts into realization that um how important it is to have a plan and to only take advantage of opportunities that make the most sense to you uh. At the end of the day, everything tends to balance out. You know um the coins that you know pushed up 150.

You know 200 percent, a thousand percent within a very short period of time. You know shouldn't shouldn't be much of a surprise that they come back to zero very soon right um. I hope that we earned your thumbs up if you guys have any questions or anything that you think that we can assist you with comment down below i'll try to the best of my ability to answer them. Don't forget to subscribe to the youtube channel and just to let you guys know we do run an absolute free and one of the largest facebook groups in the world for those who invest in the stock market with over 312 000 members.

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But if you want to watch me, trade live every day and you want to learn more about it. Click, the third link down below to learn a little bit more about our learn, plan prof group, and to see if it's a good fit for you, like always continue working hard to continue following dreams. Let your passion, view and drive your success. One of the new stains that we have within our group is keep it light, keep it tight and you know make sure that you enjoy and embrace uh the process.

It definitely takes time, but, let's be honest, nothing in life worth having or doing should ever come easy and the stock market, and it seems like the crypto market joined us today. Uh is definitely no exception. So, like always, let's make sure that we end the year on our green now. Take it easy team.