Why Is Bitcoin And Crypto Crashing Again?

             

 

Welcome back to kryptosauros i am George we're all George so what is going on with bitcoin and crypto today we are seeing a sea of red across the board bitcoin is down about four percent ethereum is down about six percent solana and avalanche both down near double digits around 10 so what is going on well i'm going to try to explain first of all there is one big event that's going on right now and that is bitcoin 2022 and that is actually why i'm not home because i will be attending bitcoin 2022 but you know whenever there's big bitcoin conferences like this for whatever reason the whales like to spoil the party i looked at bitcoin 2021 which was back in june of 2021 and sure enough the same dates we saw bitcoin and entire market come down and i was expecting differently this year because bitcoin obviously has a lot more traction there's a lot more things going for the entire market but unfortunately it seems like the whales may be doing the same thing last night uh while i was traveling i did notice big one come down from 46 down to about 45 and we're still around there so we haven't gone down more but unfortunately.

 

                                                                               

The altcoins are selling off like crazy today and i do believe a lot of it is just because of panic because of fun retail investors they're they're they're just panicking right now right but what do i always say when there's panic when there's blood in the streets that's when you take advantage i don't believe there's any reason any reason why avalanche Solana polkadot any of these guys should be down this much etherium being down six percent even luna deep down six percent that's why I believe there are some games being played right now and i believe you should not be panicking over this we will pass this we always do now are there other things going on well yeah i was looking at the stock market obviously not open yet right now but you can see the futures are quite red and that's because people are preparing for the fed minutes which is going to release this afternoon now what is defend minutes well five minutes just to report a summary of what was talked about by fedshare powell and uh an fomc meeting that was conducted.

 

last month unfortunately i don't know why but it takes a month before those minute uh the medium notes gets released so traders are antsy right now too because they don't know what's going to come out quite honestly it should be nothing because everything that was said was already said and the minutes doesn't contain really any new information because we know that powell has been more aggressive with his a plan of attack he did say that inflation was much too high and it does seem like he wants to increase rates faster but the minister not gonna say that because that was discussed last month so I honestly don't know what is going to come out of the minutes report but the traders are definitely trying to prepare for it a little antsy about it because you can see yeah things are in the red now are there good news yes yes and the reason why i believe that the fud the fear will pass is simply because there is so much goodness with bitcoin and crypto i think a lot of people to miss of the fact that.

 

                                                                                 

Tara and dokwan bought another 200 plus million of bitcoin just yesterday so tara is still buying in fact they added 5 000 more bitcoins to their balance sheet and if you look at their wallet now it contains over 35 000 bitcoins and approximately 1.6 billion dollars so this is a 200 million dollar plus purchase and this comes right after microstrategy's 190 million dollar purchase and microstrategy actually has a lot more bitcoin at 6 billion plus right so think about it think about it within a matter of a week you have close to a half billion dollars worth of purchase of bitcoin right and this is just what we know of sure these guys disclosed what about other people they don't really come out they don't come out every time they buy bitcoin and some are still saying hidden behind the scenes so in terms of bitcoin its trajectory its path right now it's healthier than ever and everything is pointing to a brighter future for bitcoin and crypto overall so the point of this video is not to panic things are not as bad as they seem especially on days like today where it seems like everything is in the red.

 

Now to give more positive news if you look at bitcoin even though it seems like it has collapsed it is at 45 000 and it is still holding above this critical point of 44.5 now i say it's critical point because it has been a pretty hard resistance for bitcoin to break you could see back here january of this year and then also february and march and recently we finally broke through it but the thing is uh on the flip side now that resistance has turned support and you can see that bitcoin yes did fall to this very same point yes the very same point not too long ago about a week ago and now we're testing that same point so it's not like we have done anything unusual and it's very positive that we are utilizing this 44 5 mark as a support and if you look at the short term indicators even going all the way up to the four hour it does seem like bitcoin on these time scales from minute all the way to four hours bitcoin looks over sold even on a daily it looks like it's about to become oversold so from a ta perspective it's very positive that bitcoin is holding above this line and bitcoin does look oversold.

 

                                                                                 

So bottom line is this like i said do not panic guys do not panic not every day will be green not every day will be positive but you gotta look at the fact that when there is panic and blood in the streets and people are looking to panic sell these are the days to be picking up these are the days that you wish or you are glad that you have cash on the side so that you can continue to dca or pick up on these fantastic bargains when they are around all right guys that's it for me stay tuned for my future video i'm not sure if i'm gonna be streaming tonight i'm gonna try to but if not still make sure you tune in for all my videos coming up this week so smash up the like subscribe to the channel and i will see you guys later.