crypto

well is it time to buy the crypto dip or

is it time to paper hand and weekend out

of the market well before we get into

why cryptocurrency prices appear to be

falling here recently it's worth noting

that jp morgan published a paper right

at the beginning of november and listen

to what they had to say they said

october is a historically good month for

cryptocurrency and this october was no

exception bitcoin was up 40 and ethereum

was up 43

for the month keep that in perspective

for when we talk about the fall that's

happening now but jp morgan also

mentioned this get this this was a

really interesting one

jp morgan expects that alternative

assets including hedge funds real estate

and digital currencies will outperform

traditional assets like stocks and bonds

in 2022. that's jp morgan telling you

that jp morgan is expecting hedge funds

real estate and crypto to outperform

traditional assets like stocks and bonds

in 2022 and digital assets are quote

forecast to climb 15 next year that's

double the expected return from hedge

funds and outpaces the 12.5 percent gain

expected for real estate next year

that's actually by the way polish on

real estate as well i know there are a

lot of people sitting on the sidelines

like i don't wanna i don't wanna get

into uh real estate i'm gonna wait for a

dip

look we're not gonna make a real estate

speculative video in this one but let's

just say i'm out there shopping for real

estate myself okay but anyway uh now jp

morgan does also say that uh

cryptocurrencies and and they said this

before this happened uh the

cryptocurrencies wild swings make them

less appealing to uh many people who who

might want to invest uh but uh i think

for a lot of uh folks who are really

into crypto these are buying

opportunities now by by no means a

crypto expert but i do my best to expand

my crypto knowledge every single day and

it appears that the reason why crypto

has been falling here uh in the last uh

24 hours here has been because of

longwood liquidations and bitcoin has

been recovering we see bitcoin at 60 980

right now ethereum at 4300

solana at 226. these are still record

highs we've got cardano sitting at 193.

cardano down a full 16.7

uh in the last uh seven days here with

uh most of the others here bitcoin

ethereum

down a nine and a half to ten and a half

percent uh as well as sheba down nine

point three three percent what is though

still doing well on a weekly basis is

not actually infinity for the metaverse

but take a look at this mana of 28

on the week here at 3.27 cents up uh

probably what 2x uh at least 2x from uh

when we had the uh the metaverse

announcement by facebook but take a look

at when we look at the chart and then

we'll show the the long liquidations

here take a look at the chart

this is the five minute chart right here

and it's really interesting to note

because if you've watched my live

streams regularly you know that these

lines have been sitting here for a while

the 63

hundred thirteen line the sixty thousand

three hundred thirty nine line in the

fifty eight thousand line and i thought

it it's very interesting that when we

scroll back here on the five minute we

go back to for example november tenth or

we go back beyond that doesn't matter we

really have a solid respect for that 63

3 line that when we drop below it we

tend to come right back

either rubber band around it or play off

that line pretty well see look at this

we go for a take off we come right back

to that 63 7 line same thing over here

sat at that 63 7 line and look at this

as soon as we broke that 63 uh

63 7 line yesterday we ended up dropping

to 60 300 which is another place we have

a line when we broke that we almost went

all the way down to our 58 000 line this

is literally a picture uh perfect uh a

chart here in my opinion these ta

outlines these these support and

resistance lines in my opinion

excellent lines to have i'm actually

going to bump my enthusiasm on them now

that we've we've seen them tested

i'm not going to change the color on

them just yet i do i do color code on my

support and resistance slides i talk

about these a lot in my stocks and

psychology of money group where i do

send buy sell notifications anytime i

buy or sell crypto or stocks by the way

check that out there's a black friday

coupon linked down below but let's talk

about these long liquidations here aside

from the technical analysis which we do

teach technical analysis as well and

then stocks and psychology money groups

so check that out down below but let's

go ahead and jump on over to uh to our

long liquidations here so take a look at

this when we look at long liquidations

we can see that's exactly why we're

seeing the pain point here in crypto

today the larger lines here to the

upside the green green is not a good

sign green is actually

longs that are being liquidated and red

are shorts that are being liquidated and

we can actually see that lungs are the

ones that have been getting liquidated

here a little too much margin uh in in

euphoria possibly a little too much

margin that got piled on when we started

running uh to almost 70 000

when we hit that 69 000 figure and we're

seeing some of that get liquidated here

we saw some of that first get liquidated

when we dropped from 69 000 to about uh

66 900. uh this is the first drop that

we had over here uh we had long

liquidations of about 536 million we did

just have long liquidations of over 780

million

that led to the drop that we saw today

uh look at the chart though folks every

time you see these long liquidations you

see the crypto

or price of bitcoin drop you could see

that here back in september back in

september we did also have about a 25

pullback and we had that 25 pullback in

september and it just led to explosive

growth in october where we saw those 40

percent gains now we're seeing about

this

pullback of somewhere around 15 let's

pull it back here if we go 60 divided by

a 69

take the new price divided by the old

price uh yeah there you go we see about

that 13 percent pullback here if we go

to where we went which was about 58.5

there you could see about that full 15

pullback so for a lot of folks this is

actually a bullish type of pullback

because it's much less than the pullback

that we saw in september and september

paved the way for larger gains in

october uh jp morgan obviously very very

bullish on crypto assets going into next

year i'm bullish on 2022 for crypto

myself i do hold out of my entire

portfolio uh if you include real estate

i've got about four percent in crypto uh

if you just look at my stocks and crypto

portfolio uh i'm about seven percent uh

in crypto so just over a couple million

dollars in crypto at the moment the vast

majority of that is bitcoin i'm a little

bit unbalanced usually i'd like to be a

little bit more balanced uh between

three or four different cryptocurrencies

a little bit heavy on bitcoin at the

moment uh but uh in my opinion this is

just the typical sort of pullback that

we find uh in the crypto market if

anything it creates a buy the dip

opportunity it is possible that the

liquidations we're seeing today could

pave the way for more liquidations

although that's not uh traditionally

what we've seen uh pattern wise that's

kind of what you would sometimes expect

in the the stock market that some

liquidations lead to lower prices which

lead to more liquidations but if you

look at the chart a lot of the larger

liquidation

bar charts here are not followed by a

significantly high bar charts thereafter

so it's possible that we won't have more

liquidations coming in the short term we

had that happen once here uh and but we

still see most of the price drop

happened on that first day so it's

entirely possible that this is a

temporary uh you know one two day dip

here and that bitcoin will be heading

back to that 63

300 700 level right around there

uh and then maybe we'll rubber band back

around that it does look like at the

moment at least at the time of this

recording we are rotating back and soon

we'll be pushing back over 61 000 again

let's look at the brief chart here yep

you can see the trend here we're

bouncing off that sixty thousand three

hundred dollar level uh and uh looks

like we might be taking uh we're getting

ready to to trend back to that sixty

three thousand seven hundred level but

so far these are definitely levels that

you wanna pay attention to

jp morgan extremely bullish here worth

noting a few other updates as well here

that uh you may have already heard

burger king teamed up with robin hood

for a promotion of trying to basically

get people to buy burgers i wanted to

mention just because i've heard this

mentioned a few times i wanted to just

mention that we researched the odds of

winning the odds of winning if you buy

something from burger king uh are a one

in one hundred thousand for winning a

bitcoin uh you've got a one in ten

thousand chance of winning an ethereum

and they'll also be giving away two

million dogecoin a 200 ether in total

and 20 bitcoin in total the only

requirement is you spend five dollars

more

or more

on your ticket to qualify at burger king

now we've got cryptocurrency wallets

finally starting to apparently happen at

robinhood though i haven't actually seen

anybody with one uh they started rolling

out cryptocurrency wallets last week and

uh they do have one million folks on

their wait list expected to get wallets

uh we've got a lot of enthusiasm also

for voyager digital at the moment

although along with uh a lot of the

crypto stocks right now voyager digital

is selling off a little bit voyager

digital is a position that i entered

at about twelve dollars and thirty cents

it ran to about twenty dollars

yeah we'll go to the day chart here it's

a little easier to see i entered this

position at twelve dollars and thirty

cents so i didn't perfectly time the

bottom i got in about a day a day into

the stock starting to rally again did

run to almost twenty dollar twenty one

dollars a share here has been on a

slight little bit of a downtrend

although we have also seen bitcoin on a

slight little bit of a downtrend here

after we hit that 69 000 level so it's

not a surprise to see a little bit of a

pullback here you generally see that

also with the miners here's for example

hud 8 mining how are you seeing a little

bit of that pullback as well as we come

back off of highs

from bitcoin

so uh uh obviously a lot of excitement

also about solana hitting uh and

maintaining the fourth largest market

cap for crypto i do uh hold a solano

jungle solana excuse me jungle cat it is

the only nft i own which i'm very

excited about uh that and that is my uh

my nft exposure usually i'm a little bit

worried about going too heavy on nfts

because of the uh like well sort of the

lack of liquidity you know risk i i like

liquidity i have a lot of money tied up

in real estate it's about looking at

when you can compare real estate uh and

my stock portfolio i'm about 42 real

estate and we all know that real

estate's a whole lot less liquid so i

like keeping my other investments as

liquid as possible and so i do like that

about uh just holding coins for example

like solana or

cardano or bitcoin or ethereum

uh we've also uh

had some updates on uh stable coins and

stable coin regulation that we're still

waiting for serious updates here the

federal reserve did talk uh about stable

coins as well uh in their uh federal

reserve financial stability report it's

worth mentioning that they did make

reference to the presidential working

group on uh unstable coins which the

president's working group they pointed

out a few risks for stable coins they

mentioned that there are one credit

risks

two liquidity risks three operational

risks four settlement risks and five

risks arising from improper or

ineffective systems of governance this

these are just basically fancy ways of

uh

individuals in the regulatory space

saying that uh there are

risks to uh market manipulation and

fraud with stable coins and that really

there there is work that should be done

in terms of regulating cryptocurrency

the federal reserve did mention this in

their financial stability report as well

and uh really the the encouragement

that's coming for stable coins is a

custodial wallet oversight which would

be good because you want to make sure

that your your wallets are safe if you

are letting them be custody that's

something like a coinbase or uh you know

maybe even you're using weeble or

whatever uh to buy your coins or some

form of centralized finance and

regulation for them but there are also

some concerns that regulation could go a

little crazy

such as requiring banking licenses if

you are using uh stable coins and

banking licenses for stable coins are

potentially something that could create

some risk for companies like gemini or

some of the other stablecoin providers

like tether

who are

probably the furthest thing from ready

uh to get banking licenses especially as

uh tethers deposits have been

called into question for for quite a

while uh let's briefly look at the

financial stability report though just

so you can see how the fed is viewing

this right now stable coins are digital

assets that are issued and transferred

using a distributed ledger and the value

of stable coins has grown five fold over

the past 12 months stands at about 130

billion as of october 21st but there are

vulnerabilities exacerbated really by a

lack of transparency in governance

regarding these stable coins again

really paying homage there to

tether and that potential lack of

transparency on deposits however the

potential to use stable coins and

payment and their capacity to grow uh it

can pose a risk to payment and financial

systems even though uh stablecoins do

come with a lot of benefits

as as you even see here many central

banks around the world are weighing the

pros and cons of issuing central bank

digital currencies those are central

bank versions of coins and the federal

reserve if anything they've been a

little bit slow on on coming up with

some form of framework for stable coins

generally though all this talk about

stable coins the fact that we're showing

up in president working groups

reports the fact that we're showing up

in financial stability reports uh even

though we're being we're being shown

here as a risk uh is in my opinion very

bullish for the crypto market uh worth

noting by the way that uh robin hood

just i want to say we're hitting record

lows here uh we're at uh 33 55 right now

in robin hood only reason robin hood

here is coming up obviously is because

robin hood

does make a good chunk of revenue from

cryptocurrency trades even though the

crypto community

in general discourages people from

buying coins on robin hood because you

cannot wallet transfer your coins out of

robin hood uh it is worth noting that in

my experiments which i've published on

the channel robin hood does have the

best pricing for crypto yeah however

it's it's often worth just paying the

coinbase pro fee which is less uh than

uh than what you pay at uh at other

dealers but more than what you pay to

robinhood but you get that flexibility

of being able to move your coins uh to

uh to to your personal wallet you can

take them out to cold storage you can

stake your coins you could do obviously

a lot more you could transfer them over

to voyager digital and to get a yield on

on your coins which you could always go

to mattkevin.com voyager and use code uh

kevin i believe their latest promotion

is uh 25 in free bitcoin when you find

an account but you have to fact check me

on that one when you go to the link and

uh but yeah it is it is worth noting

that as crypto is falling here robin

hood is falling as well kathy would of

course very bullish on crypto uh both

bitcoin and ethereum and uh also buying

the dip like crazy on robin hood

so uh that's uh that gives us a little

bit of an explanation in terms of what's

happening happening in the crypto

community right now bitcoin uh pretty

stable right now sixty thousand nine

hundred we'll see what kind of catalysts

we get to either side if we do end up by

the way breaking

where we sit now

uh the next level of support would be

about 54 300. so there's a long way to

go between where we are now and uh and

where we could end up if we end up

getting a little bit more of a pain

point here on uh on bitcoin and

certainly if we get more liquidation so

we'll see what happens it could be by

the dip opportunity but anyway uh thank

you so much for watching this video if

you found this video helpful check out

the courses i linked down below i'm sure

you'll find those extremely helpful uh

there's a black friday coupon that you

can take advantage of and folks see you

next one thanks again goodbye

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