hello guys welcome back to the channel in today's video we're going to take a look at
market roundup and crypto is it a good time to be getting into crypto all of the things around
the cryptocurrency market and what you should be doing about it right now obviously nothing
i say on this channel is financial advice so always go away and do your own research
before investing any of your own money without further ado let's jump into today's video
so guys first of all we're gonna dive across and look at tradingview.com everything i talk about
today will be linked down below in the description so make sure you go and check it all out if you
want to after this video now i'm looking here at the bitcoin chart now if you've been in crypto
for any period of time you'll understand that when bitcoin falls or bitcoin goes up everything else
around it will do the same but in fact will react much more aggressively the reason for that bitcoin
has a very big market cap nearly 400 billion dollars so for bitcoin to move up 10 it needs to
add 40 billion dollars to its market cap whereas solana for example which is sat at number nine
has only 11 billion dollar market cap so to go up 10 only needs to add one billion dollars so
you understand perhaps why the other cryptos will ramp far more aggressively than bitcoin
but bitcoin is basically the grand daddy of crypto so we're going to take a look at
what's going on here now you can see ever since back in november we've been in this
downtrend and that's happened for a number of different reasons obviously perhaps at this
level crypto was over valued but ultimately this is kind of the backlash for what's been happening
in the world obviously we've had coronavirus which has had a huge impact on economies worldwide now
the united states of america which is obviously the world's largest economy has basically been
suffering because of over inflation so what they've been doing is they've been printing
more money which ultimately devalues that money in circulation because they need to do that in order
to bail out all of the people who are put under pressure by the lack of business during covid
and might be giving out money to its residents to try and ease the pain of unemployment and various
other things now the problem with doing this is ultimately the value of the dollars that you
have saved away in your bank account become less everything in the shop becomes more expensive but
perhaps still you're earning the same salary making this kind of like an ultimate painful
squeeze now in order to combat that you then have to hike interest rates hiking interest rates then
makes the dollar a more valuable investment but it also makes it more risky to invest in other higher
risk assets such as cryptocurrency stocks shares etc and the fed has been increasing interest rate
hikes all the time the last one being back in june 16 where it was raised by 75 basis points however
it's expected that there's going to be more interest rate hikes towards the end of this year
which causes still a little bit of uncertainty hanging over the crypto markets it's also meant
that the us dollar bearing in mind that bitcoin is against the us dollar has also been absolutely
starting towards the upside if i click here on the dxy i can see the us dollar index this is on
a weekly chart guys and this literally right now and this is back in 2002 if we currently look at
where it's at it's literally at its highest point since 2002 and that's literally today
yes it's come down a little bit and we're going to jump into a daily chart and you can see that
it has breached beyond this all-time high and continues to pump in the last few weeks we've
seen crypto moving to the upside and that's when the us dollar was moving down so now what everyone
tells you about what's going on in crypto it's literally a hundred percent linked to what's going
on in the u.s dollar because bitcoins against the us dollar ethereums against the us dollar
so this moves up everything against it must move down and ultimately we've broken through
we are now going to retest this previous line of resistance as support and ultimately i think it
will continue to carry on towards the upside as the rest of the world's economy struggle
against the us dollar which ultimately will blow off top at some point and come crashing down
and then that's when our crypto bull market will start diving across to coin market cap before we
look at further analysis where i see bitcoin going in the shorter term i want to consider the best
investment strategy going forward now i already talked about the market cap size of bitcoin and
how it will move slower when the markets start to move again now obviously in a downtrend
bitcoins less risky because it is less volatile than the other markets because it has that bigger
market cap it's more stable it's less likely to drop 50 in a day because that's a lot of money
whereas coming down through the list the further you get away from that number one spot
they become riskier and riskier assets because the move percentage-wise is significantly larger than
you would experience in something else however in terms of where to find the best gains in crypto
going forward actually once the crypto market starts to move again the opportunity is enormous
because all of the coins that can survive this bear market are where we see the biggest gains
going forward so you're coming down the list if we look into the top 10 you can see some phenomenal
coins here first of all i'm looking here at solana salana is thought to be the next ethereum killer
whether or not that happens i don't necessarily think it will in the short term solana's are seven
x away from its all-time high so if you put in a hundred dollars it gets back to all-time high you
then have seven hundred dollars doe coin as well is massively down now solana's one of the fastest
if not the fastest ultra-scalable blockchains out there you've then got other coins like doe
coin obviously a meme coin shiba inu and meme coin now i want to point out these two meme coins they
have seen incredible returns and they still have multi-billion dollar market caps what this means
shouldn't be something to alarm you in crypto but it means that people in crypto don't really
know what they're investing in a lot of people in crypto haven't got much of a clue about what each
of the different cryptos does all they want to do is make money and that's fair enough because i
also want to make money but for me i also like to understand what these different things are about
but what that means guys and it's pretty much when you find any of these cryptos in the top kind of
20 maybe even 30 you've got coins like avalanche chain link these are phenomenal technologies
and if you take these ones which have phenomenal technologies they survive the main market as and
when the crypto market starts to move again you're going to see huge gains potentially in these
tokens obviously not financial advice go away and do your own research but i want to show you all
of these charts guys this is mana decentralized which is like one of the original metaverse tokens
it's currently 650 away from its all-time high you've got solana here which again as i mentioned
770 from all-time high avalanche 675 away from its all-time high now why am i telling you this
well because right now you probably don't want to buy into cryptocurrency and there's a reason for
that guys we have inside us a monkey mind okay so basically we still react to certain things
in an uncontrollable way the same as when someone jumps out and scares you you still jump in the air
and shout in the same way that we can't help but laugh at something funny or whatever this is still
in our mind that we can't control certain things and this is one of them so i want you to look at
this which is the wall street cheat sheet and it talks about the different mentalities that we feel
going through a market cycle now you probably realize that when it's at the top of the market
you get this euphoria you have this panic that you're not going to be able to buy anymore
you think you're going to be rich you've already turned a thousand dollars into twenty thousand
dollars why can't that twenty thousand dollars now be worth a hundred thousand dollars why do i not
have enough money available to turn into a million dollars you get the picture but the problem with
that is ultimately the people who are controlling the markets have the ability to think outside of
this and are waiting for you to keep buying at the top so they can sell which is why we feel so
excited and we can't buy enough at the top and yet on the flip side of things when it's at the bottom
which is pretty much at the bottom now in my opinion we don't want to we're scared we think
it's going to continue to go lower and lower we're depressed maybe we're angry about what's happened
because we've lost loads of money or we could have sold the top because we were already up like 20 30
50 maybe even more money and now we're depressed because we think it's going to continue lower
bitcoin is going to go to five grand etc now i want you to think outside of this because
right now we passed the anger in my opinion i think we're in kind of like the depression phase
people are feeling pretty sad about what's going on and i think we're going to be moving into this
disbelief area very shortly and what is it that makes me think this well guys we jump across to
bitcoin yes i do think that the us dollars can continue to push a little bit harder and
we could see a little bit further of a drop in a bitcoin but realistically i think the bottom
still exists in this zone through here i'm going to show you the concept of a supply and
demand zone here where i'm going to draw a nice rectangle across this area i'm going to show you
it's green because we know that green means go and a good time to buy now the way markets move if we
look at like forex everything like this when you get institutions entering into a market and they
know that the market's going to be moving up they want to buy at a particular price so here you can
see that we had this consolidation zone around here the price they wanted to buy was around 16
000 to around 20 000 they didn't want to buy in this area because it's heavily overpriced in their
opinion they wait for it to move so this is when we get these ray traces like this and retraces
into the same zone so we know that pretty much around seventeen thousand seven hundred dollars
give or take a few hundred dollars is where people are prepared to buy bitcoin so that doesn't change
despite being further on by a year or so you can see that around this zone is pretty much
the market price where people are willing to buy bitcoin so if we see a further slip into this zone
expected to be brought up very quickly now what's also very exciting is this is a falling wedge
for bitcoin this is a bullish pattern guys it doesn't feel like it because we are pushing
towards the downside but ultimately this will break out and it will have a target back towards
all-time highs taking a fibonacci retracement now ultimately when we break past all-time highs on
most cryptos obviously didn't happen the previous time we double topped uh we would look towards the
1.618 which lo and behold is pretty much a hundred thousand dollars so right now you're probably
seeing loads of news and everything telling you that crypto is gonna tank but i want you to think
about why that is because the big institutions want you to continue selling so they can buy
up at the cheapest prices number hold at the top of the market everyone will be telling you to buy
crypto this bitcoin is going to go to 300 400k be very cautious of buying after these huge pumps
towards the upside there's a lot of stuff and talk about institutions getting into crypto right now
i believe about 0.003 of the world's banks and hedge funds are actually invested in crypto so
there will be potential for movement in the future but they still don't think it's now it's still a
heavily risky asset people with big money don't need to invest in heavily risky assets what they
can do is invest into companies that deal with the riskier assets so we can see here blackrock which
is one of the biggest wealth management companies in the world if not the biggest has now gone for a
partnership with a coinbase which is one of the biggest crypto companies in the world blackrock
the world's largest asset manager teamed up with crypto exchange at coinbase in august in a move
that both wall street and the crypto industry are watching closely blackrock says the partnership
will help clients more easily manage and trade their bitcoin for coinbase it's a validation of
sorts after it suffered a 1.1 billion dollar loss for the second quarter as crypto market slumped
the company's shares have fallen more than 70 percent this year 70 drop in the year is why
the big money will not get involved in crypto right now because 70 of like 10 billion
dollars is 7 billion and if you put all of these companies together they have trillions of dollars
under management they can't afford to be losing 70 in the year and they don't need to risk losing
70 when they're happy enough making 10 15 etc so realistically guys crypto has an amazing
upside into the future but every time people tell you that all the banks are piling in and
you're going to be making hundreds of thousands of dollars in the next bull run be very cautious take
profits when they're available but right now the crypto market is ripe for the picking you have the
potential to be able to buy at like an 80 discount in many crypto currencies look at it that way and
you can't go far off if you buy a little bit right now and it falls further then buy more and then
your dollar cost averaging the amount that you've paid over a period of time and that's something
that is probably the best way to be making money in my opinion in crypto so in summary
guys crypto markets are very low right now amazing opportunities look at some of the best protocols
that are going to support things like gaming so things like sandbox look at things that are
going to support things like nft web 3 development like avalanche solana and other cryptos with large
enough market caps to take away the risky downside but also with small enough market caps that you're
going to see some amazing growth in the next year or so as i mentioned go away and do your
own research on all the things i've talked about it's only your responsibility to look after your
money and no one else's guys i hope you enjoyed that video today if you did make sure you smash
the thumbs up button for the youtube alan thanks very much for doing that and if you're new to the
channel you want to learn more about crypto web3 and nfts make sure you subscribe to be kept up to
date with all of the latest happening thanks for watching guys see you soon with another video bye