Jim Cramer calls the bottom on live television again.
Cardano plans to launch their first NFT lending and borrowing platform.
And grab your sunglasses.
We're going down to the Bitcoin Beach.
My name is Deezy.
This is your nightly crypto news wrap-up.
Let's get it!
But we won't see the end of this decline
until we get a giant washout of all things that are speculative
that don't make money!
This is what it looks like when the Fed gets serious.
This is the charnel house.
What matters is that we just have to get through it intact.
Don't get memed.
Don't get SPAC'd.
And don't get crypto'd.
And this is really important.
I need you to stay the heck away from unprofitable junk.
Profitable's fine.
Profitable oil, profitable tech is fine.
I need you to stay away from the sought-out SPACs,
the ridiculous IPOs,
and get ready,
Dogecoin,
Polkadot,
Dai,
Polygon,
Shiba,
Avalanche,
Uniswap,
Cosmos,
Golem,
old Golem,
Optimism,
Kyber,
Tribe, Request,
Rally,
MyNeighborAlice,
League of Kingdoms,
and a couple of other really solid investments that I can get you
as long as you like blockchain!
There's no point to any of this stuff beyond separating you from your money.
Jim Cramer strikes again!
This guy goes on national television every week,
and unfortunately people listen.
To anyone out there who thinks what he's saying is valuable information,
on behalf of myself and everyone who has profited insane gains from being in crypto,
I'm sorry.
Truly, I am.
There's a whole Twitter page that counter trades everything he says,
and they're killing it.
He might think he knows a thing or two about the stock market,
but we're in crypto.
We don't like watching paint dry.
Cramer has no idea what he's talking about when he runs his lip about crypto.
He looks at negative price action as it's the end-all be-all
and why you shouldn't be involved in crypto.
But, Jim, you see, there's this thing called shorting,
and that's when you make money when the price goes down.
The people who make real money in crypto,
they know how to trade both ways.
And a bear market is basically a bull run for shorting.
Wake up, Jim!
Talking about negative price action without context is one thing,
but you want to talk about some gains.
Cramer called Polkadot, MATIC, Optimism, AVAX
and several other great crypto projects
"unprofitable junk."
I'll say it again.
"Unprofitable junk"
The guy has no chill.
Let me learn you something here, Jimbo.
Just this year, between the end of June through the end of July, middle of August,
Polkadot pumped 56%,
AVAX pumped 114%,
Cosmos pumped 125%,
Uniswap's up 180%,
and MATIC's up over 200%.
And that garbage Optimism coin pumped up for 400%.
Unprofitable, right?
Just because there's more downside might be coming
doesn't mean you can't make money in crypto.
It's really going to look silly in 10 years when crypto is completely adopted.
But hopefully CNBC is smart enough to can him by then.
We love you, Jim.
Cramer is the Jon Snow of crypto.
He knows nothing.
Let's pass it to Frankie Candles for a market watch.
I've got to fight this thing!
Alright, guys. Let's jump in and do a little market watch here.
We've got Bitcoin coming in at $20,031.
Oh, just cracked that $20,000 mark live!
Down about 7% on the week
Ethereum coming in at $1,547
Down about 6.7% on the week
Now, guys, I do want to bring you over to the Bitcoin chart.
Now, not much has happened since yesterday.
We are just continuing to kind of range sideways
between this point of control at about $20,525
and this spider line coming in at about $19,500.
So that remains to be our range.
Kind of just boring sideways price action right now,
but we did just start printing a blood diamond here on the 2-hour chart,
which is a pretty bearish signal.
Now, we are getting some mixed signals right now
making me think we could continue moving sideways,
but this blood diamond, if confirmed, does have the potential possibility
to bring us down a little bit.
The main level I'm watching is $19.5K.
That is your key level of support.
If we break $19.5K,
it could it be likely that we bearishly retest and come down to revisit the range lows
at about $18,825.
If you guys want to follow me,
it's Frankie Candles on YouTube or @Frankie_Candles on all socials.
Back to the news.
As the Vasil hardfork approaches,
Cardano continues to make serious moves in all corners of the crypto space.
In just a few weeks, on September 13,
Cardano is set to launch its first lending and borrowing protocol called Aada Finance.
Vacuumlabs has recently completed a month-long audit
of the protocol's smart contracts.
All the issues have been ironed out, and it's go time.
AADA describes themselves as a fully decentralized lending and borrowing protocol
backed with NFTs built on the Cardano blockchain.
This is a massive step for Charles and the gang.
And I'm really excited to check it out once it drops.
This morning, they dropped information on the AADA airdrops,
so be sure to check out this tweet if you want to get in on the action.
If you want to keep your fingers on the pulse of the NFT space and all that comes with it,
be sure to check out my channel NFT Alpha.
We're really big on Cardano NFTs
and recently released a video on the origins of Claymates.
Don't miss it.
Where's my ADA Gang at?
Sorry. Cardano community.
Let us know in the comments.
Grab your sunscreen and towel.
We're going to Bitcoin Beach!
A beach in El Salvador known as El Zonte has been officially renamed Bitcoin Beach
as a result of their government taking on crypto as their currency.
This is phase 2 of the Surf City project,
which was created to attract more tourists to the area.
El Salvador is receiving over $200 million in infrastructure to build it out,
and they're adding trails, bridges, cycle paths to the surrounding beaches as well.
Since Bitcoin Beach is going to be an obvious tourist hotspot for the country,
President Bukele stated,
"We're going to fix an area of 15,000 square meters,
where there will be a shopping center, parking, beach club and treatment plant,
to revitalize the area."
If I ever end up in El Salvador,
I know where I'm going.
Where's my sunscreen?
That's all I got.