Bitcoin Crash due to greediness | Due to fake news

 Bitcoin market update | unpredictable 

All right guys welcome back to the blog and I've just woken up and we have some horrible news there is a rumor that our treasury is planning to charge several financial institutions for money laundering using cryptocurrencies and this has sent the market into a free fall the price dropped from over 60 yeah from around 60 000 to 52 000 in 15 minutes so that's probably the biggest drop we've seen during this bull market and I'll be honest when I woke up I was pretty worried to see this news but it does seem like we're bouncing off around that 52 marks and we are back to what are we back 56 so we're climbing again it does seem like we're out of the water at this point but I did want to make this video just to talk about the potential risks of investing in bitcoin and crypto and all of the other hype coins you know because we see these massive plummets overnight and nobody could have known this was coming we saw bitcoin lose 10 000 in 15 minutes which is pretty incredible when you think about it and as we've been told now that there are loads of new financial institutions getting involved in bitcoin that there's less chance of it crashing but this proves that it still can crash and it does seem like this dip is being brought up I wanted to make this video quickly just to tell you how much I've actually lost since I went to sleep last night so on my main cryptocurrency wallet I am down over 35 000 overnight in the last 24 hours then in my hype coins I am down around 10 000 since our highs yesterday but on the note of hype coins elongate saw this massive crash that was about what was that that's like zero 10 off the price so we're talking around a 30 drop 33 drops but we have bounced off this range and we are going back up same over here with the safe moon we saw a drop but the dips being eaten up exactly like what's happening with bitcoin we saw a sharp drop in the rumor it came back and they bought it up so in total in bitcoin and crypto my hype coins I'm down around 45 000 overnight and then also over in the stocks and shares the world we have the tech sector or the speculative tech sector where I am down around 20 000 pounds so probably 25 to 30 000 so in total we're looking at around a loss of around 70 to 80 000 in the space of a week which is pretty you know bloody pretty bloody but this is why we are long-term investors now obviously, i'm not a financial advisor I'm just a guy sitting in his room who has literally no idea what he's talking about I am solely going off my own experience in the market so please don't listen to me don't take any of this as financial advice this is only my opinion and should be only taken as entertainment but as we've seen today things can take a turn for the worst very quickly that is why i always talk about taking profits when people are greedy because it's easy look we've made from this point if you had a bought in around here and you've sold around here you would be up over a hundred percent so you could take out your initial investment in its entirety and only be riding with houses money so when you saw this drop you would not be emotional and you would not really care or want to sell now I guarantee you people panic sold on the way down and we want to avoid that because we are hoping for a bounce-back now this is why it's important in my mind to take profit in speculative investments like elongate like the EV sector and stocks and shares, speculation is things that are basically not guaranteed you know it's much less speculative to invest in something like Apple than it is to invest in something like elongate because we really have no idea where elongate is going to go whereas we do know that Apple will probably survive so we're looking for this bounce and by not having a motion we can just hold on and wait for this bounce to happen and that's why I always stress the importance of getting some of your profits out and it's really good to get your profits out when people are really greedy it's terrible to have to try and sell when people are scared so as warren Buffett always says when there is blood on the streets you want to be buying I don't know if that's a direct quote but I always say it is it probably isn't but we want to be selling when people are greedy and buying when people are fearful that is how the market normally goes and it's a good way to look at things but yeah I just wanted to make this video to let you know what's happening the treasury is threatening to basically, charge several financial institutions for money laundering using cryptocurrencies now this doesn't really affect the underlying asset it just makes people worried and that's what we call fud fear uncertainty and doubt because there is fear uncertainty and doubt around what this could lead to that is what caused the market to sell off because people are scared now i am simply holding my long term bag I am also holding my hype coins and I am also holding those speculative tech sector stocks that I spoke about I'm just holding that's all I'm doing at this point is just holding because we're in companies and coins that we believe in for the long run and that is really what my game plan is hopefully this helps you to understand a little bit about what's happening in the market today maybe it's time to bid you know buy that freaking dip but let me know what you guys plan to do let me know how you felt when you opened up your block folio or whatever, you used to check your portfolio let me know how it felt to see that massive drop hopefully we will be climbing back up to around the 60k range on bitcoin, I would be getting worried if we dip below about 48k and then again if we get to about 41k those are the points where i would be worried that the bull market is now over that's what concerns me and then obviously if you just zoom out a little bit on the monthly chart we are still, you know it's a three-week low I think it is so if we look at the three-month chart we are still on an upward trend so keep that in mind zoom out

Nothing to worry about. The drop was unexpected and got a lot of people liquidated. However, such drops are often seen in a bull market, as long as we hold 55K and rally above 60K (flip it) we’ll be heading towards 74-80K.

Warning - if we do fall below 50k and close the daily candle, it’s time you sell some of your holdings. That’d be a sign that we’re going to revisit the 40K area.

Breaking: Li Bo, deputy governor of the Central Bank of China, said that crypto assets such as Bitcoin should be used as investment tools or alternative investments. This is the first time that the Chinese government has recognized the asset value of cryptocurrencies. 

China has long recognized the status of Bitcoin as a virtual commodity but banned any ICOs and exchanges, the whole policy is still relatively vague. Li Bo said that before we figure out what regulatory rules are needed, we will continue to maintain the current measures. Amazing how many negative stories about #bitcoin have come out today without a single named source. The blackout in china’s Xinjiang region caused almost half of the bitcoin network to go offline in 48 hours. $8.98 billion #Bitcoin long positions liquidated in the last 24 hours Using leverage is a dangerous game. Bitcoin supports exactly the "magic line". These lines are derived from previous patterns developed during price movements. The highlighted support was quick as shown by the large wick of $51,448, which was about a 20% correction from the previous top. Yes, it dipped but clearly as quick as it fell it rose. The Hodlers are buying and the retail investors sold at a loss. This is #Bitcoin it's not a game it's financial freedom

We are still bullish and will remain so as long as we stay above 50K. Trade carefully and don’t overleverage your positions.

Good day