Crypto Bounces, Evaluating the FUD Behind Us



everyone what is going on it is crypto Bobby hope you are having a great day great night wherever you are watching in from the market the crypto market has bounced pretty nicely in the past 24 plus hours or so showing a little bit of a sign of life after the massive correction dip whatever you want to call it crash it doesn't really matter it is what it is the markets showing a little bit of life still nowhere near its all-time highs but you got to start somewhere and I think it is a nice bit of positive momentum so we'll talk about the crypto a little bit of a bounce that we have going on here I also want to talk about some of the passing FUD that's happened and some of the ways in which we've been able to recover and I think how I mentally deal with some of the news that comes out in terms of just verifying information and in doing due diligence on that news because it can be very easy especially if you're on Twitter sometimes there's some pretty uneducated tweets sometimes on the uneducated one on Twitter but there can be some pretty uneducated tweets about hackings and about all these type of bad things so we'll talk a little bit about that and how you can just do your best to confirm and stay safe stay safe with all this things that are going on one quick note too though is hopefully if you had a chance to watch the interviews that I had recently with Alexander Kravitz the CEO of X trade clay Collins the CEO Nam –ax and then Charles Hoskinson the CEO of IO HK and a massive contributor to card on o hopefully you enjoyed those if you do have any comments or questions or feedback I'm trying to get better at interviews at trying to improve the content on the channel and just trying to be better so the content is better so that you guys enjoy this more you get more value get more education more knowledge so if you have any helpful comments helpful critiques I'm all yours if you just want to call me an idiot I I can take that too I'll probably give you some snark back but I'm all yours for helpful comments on interviews I have a number of other interviews coming up in the near future here with the team at air swap I next week with Ari Paul late in February which I'm stoked for with the team from block stack in early March and a couple other ones I'm in the process of scheduling some more outside of just the daily content which I absolutely am going to consider I think that adding additional perspectives to the marketplace from hearing from these individuals is massively important and hopefully you folks enjoy that if you don't enjoy it then just watch the daily videos but hopefully you get some value and knowledge from these other individuals that come on the show to talk and hopefully you enjoy so let's get into what's going on with the market in general right now like I said bitcoin is up about 5% of the day aetherium is up nicely at over 7% ripple XRP the standard is making it nice a little bit of a move upwards as well 20% still down about 76 percent from the all-time highs but ripples do still close to getting close to a dollar here and basically every single cryptocurrency out there at this point today at least with on chained FX which is usually a fairly decent collection of those but every cryptocurrency out there – our friends at bit connect shout out to the guys who told you to buy the bit connect dip now that it's down 99% but every cryptocurrency out there besides bit connect is basically up in the green and I think that is a really nice positive sign for the marketplace in general so I'm I'm very happy to see that and as I've looked at what's been going on with the marketplace in general I've started to do a lot more of like analysis on my emotions and feelings when the market is going up and when the market is going down and one thing that I've noticed and I tweeted about the one move that I really made with this big correction is just for full transparency when the correction happened I didn't sell anything back into Fiat I when the the market crash from whatever you want to say $20,000 Bitcoin and you know these smoke and how it all finds these hot cheap bath coins when that mark had crashed I didn't take much profit back in a Fiat i redistributed some of my crypto around between the different crypto assets I kind of rebalanced a little bit but I didn't necessarily sell any back into Fiat which was looking back on it not the best move how ever as the market just started diving and diving and diving I started to feel like okay this is this is this is getting bad this sucks I hate it but it's getting to a point where the value of this the value here is too much to pass up and that's why like four days ago back February 5th when I saw a Bitcoin at sub $7000 I was looking at that and I'm thinking hey in addition to my daily dollar cost average which I do literally on a daily basis if the market goes up I'm dollar cost averaging in the market goes down I'm dollar cost averaging and I just do that every single day I was looking at that and I was thinking to myself this is too too much value here to potentially pass up I personally don't see bitcoins all-time high of all time when we look back historically I don't think $20,000 is going to be the most expensive it has ever been I do think that Bitcoin and I think with a lot of the other crypto currencies out there some of the other crypto currencies out there they the all-time highs that they have hit are not going to be there all time highs forever so I made a much bigger move into Bitcoin again at sub $6,900 around six thousand nine hundred dollars granted I did not time the bottom perfectly by any stretch but when I look back at that I am pretty happy with just the the thought process in place that I had I was looking at the the overall sentiment and I said you guys know I'm not much for technical analysis there are people that do a fantastic job with TA I am NOT one of those individuals who can look at a chart and really determine human emotion based off of it I more look at different social signals and social cues as far as what people are talking about on Twitter what people are talking about on reddit and it sounds bad but it's like when you know a lot of these people are joking and we're seriously talking about hey you know we need to we need the suicide hotline number most of the time it's joking I really do hope it's joking because that's not something to joke about but like when you see start seeing post like that that's when I start looking at and all these people talking about selling their houses and living in cardboard boxes because they bought too much crypto that's when I started looking at it and thinking okay now is a decent opportunity to to scale in more because the pain might not be over but it's painful enough now that I'm probably getting good value and that's where I did when I saw Bitcoin at sub $7000 and scaled in pretty heavily at six thousand nine hundred dollars or so granted it went down to six thousand bucks at one point time I think it might have even gone a little bit below six thousand dollars depending upon what exchange you were looking at but that's the type of thing that when I go back and analyze what I was doing I was fairly pleased with that evaluation on the other end of the spectrum I didn't do a very good job during the euphoric phase of Bitcoin going from 10th out you know going from sub $10,000 all the way up to $20,000 I did not do a very good job in terms of managing my emotions and some of these altcoins managing my risk because though shot through the roof and in crypto what goes up must come down in a lot of respects and I didn't take any money really off the board and if I had done that I would have not only not had to take fresh Fiat into into the market maybe I would have used that anyway but I might not have required that fresh Fiat to to go in and I could have increased my stack quite a bit more than I would have been able to do otherwise so looking back I feel very comfortable at this point in time in terms of buying into dips and I've managed my emotions to the point where tweeted about it today a little bit but when you sometimes when you feel like puking and crying and you want a hug from your mommy that might be the time to buy an asset in which you have a very high conviction in for me Bitcoin is a very high conviction asset a theorem is a very high conviction crypto asset there are a couple other ones I do also have crypto in my portfolio that I like but it's not something that I have a massively massively high conviction on so when that dips I'm not increasing my stack on it Bitcoin on the other hand III do have a pretty high degree of conviction in that it will be around in a few years and it will eclipse its all-time high at some point in time and if I'm getting it below that it's basically a three X move if it hits its all-time high so I'm happy with that now when I'm looking at just the market in general right now – and thinking about everything that's going on one of the big things that I'm thinking about is while we're still significantly off the all-time highs we are still pulling back pretty heavily or we've still pulled back pretty heavily I mean you're still have thick 157 percent off its all-time highs it's lost a lot of momentum per se there's more money coming into the space in my opinion then there is leaving I'm still having conversations on a daily basis with people I'm still going to meetups and talking to individuals that are running hedge funds that are running that are trying to figure out how to get money into crypto and I still do think that there is a significantly greater amount of money that is sitting on the sidelines right now that is waiting to figure things out whether it's custodianship whether it's proper risk management whether it is crypto diversification whatever it might be I remain pretty positive on the amount of institutional money and big players that simply haven't figured out or just haven't been comfortable with the risk like the security risk profile of crypto currency when you look at having a small percentage of your portfolio in crypto and the kind of the risk adjusted returns there I do think it is very much worthwhile for a lot of these a lot of these larger institutions to be playing in this space and they are looking at that and realizing that as well so I personally at this point in time when I look at the market as a whole is money coming in or is money leaving I think that there is going to be more money coming into the crypto space then there is leaving so I still am bullish on it for the for the mid to long term short term I still not want for short-term predictions you guys know that but medium to long term I do remain very very positive on the outlook for crypto and I think you're gonna start seeing especially just the conversations I've been having at meetups and in interviews and kind of behind the scenes a lot of people the amount of money that is coming into the space it's seems like it's pretty mind-blowing so I'm fairly positive on that now one thing that a lot of people have been looking at at least in my opinion when it's come down to it is when the dips happen when these crashes Corrections happened a lot of it gets attributed to Fudd and whether it was the upcoming congressional meeting that happened or something something about China and VPNs and blah blah blah like China hasn't bankrupted out for the past you know six months or three months or four months whatever it is now at this point time since September I look at the Fudd and I personally or the fear uncertainty and doubt for anybody who's not necessarily familiar with that I look at every negative point of news and I try to confirm that in my mind and see is this actually something to be worried about or is this something that could potentially be a buying opportunity or I just need to dismiss it straight off the bat and I would recommend you do that as well whether it's whether it is the greater market news where somebody's talking about China banning crypto currency and all this negative stuff about China where in reality crypto was banned in China really since for the most part since September the ico participation a lot of things like that crypto was for the most part banned basically in in China since September so new news that came out about that is really just a regurgitation of old news so looking at something like that and determining kind of what the deal is and then there were also a lot of people pointing to negative outlooks of the congressional hearing with the with Jay Clayton the SEC chairman as well as with Chris Giancarlo the chairman of the CFTC where they actually put out a lot of information prior to the congressional hearing where you knew for the most part that the information wasn't going to be bad so the second that hearing actually came on and confirmed that everything was hunky-dory for the most part – unless you're having an IC o—- then confirming all that information beforehand really helps you to avoid any type of silly decisions I'm sure a lot of people out there that didn't do their own research when it came down to the SEC CFTC meeting with Congress sold some crypto in advance for oh my god the US government's gonna come out and say something bad but if you had done 10 minutes of research and you had seen The Wall Street Journal article up from that was co-authored by chairman in chairman giancarlo and you had done some research as far as the information that both of those individuals and their organizations had published you would have seen for the most part the exact same statements that they had already said during that congressional hearing and you would have been able to avoid a lot of that information now the reason I'm saying this is because Finance came out and there was a whole issue with by Nance and they the trading platform was on essentially you were not able to train on Finance for the better part of 24 plus hours and there was a lot of fear uncertainty and doubt out there in the market about oh my god by Nance's hack finances hacked everybody's gonna lose their money blah blah blah and credit to the team at by Nance first of all credit to the team at by Nance because they were very much they were very much proactive in dealing with a lot of the negative statements that are coming out perhaps you saw John McAfee retweeting something of basically a doctored screenshot which is ridiculous in and of itself but John McAfee retweeted a doctored screenshot of the by Nance website saying that they were basically hacked which obviously wasn't true by Nance immediately addressed it and said hey we're not hacked you can also look directly at our Bitcoin while it addresses to see that all of the money is still there and they were very proactive but that's the type of thing as well where you could easily see a tweet from McAfee or a tweet from somebody else saying oh my god finance is hacked and if you're not doing any research you're gonna think oh wow I should probably sell some my crypto P is this gonna is this is the one of the largest exchanges in crypto currency this is gonna drop the market we did five minutes of research if that you would have seen that hey the by Nance team has come out and said we've we basically our technicals are all messed up we are having massive issues and we're fixing it right now but if you want to look at our addresses if you want to look at our official statements bla bla bla then that's fine now that's the type of thing that I'm talking about we're just doing 5-10 minutes of research and a lot of respects can save you a ton of time a ton of headache and when it comes down to some of this fear uncertainty and doubt a lot of it can be founded and a lot of times if somebody can quickly spread a message on something like Twitter or Facebook or somewhere else where it's just simply not true and you want to avoid that as much as possible now as much as I love buying ads I am a big fan of Finance I actually use it more than pitch racks nowadays but as much as I love finance I do think that this also goes to show the necessity for storing your own cryptocurrency if you're not doing that yet you really need to take control of your take control of your money and what I mean by that is acquiring yourself a ledger buying a treasurer buying some level of a hardware wallet or just understanding OPSEC behind cryptocurrency in a much better manner because while nothing so far has happened with buy Nance and there are no issues there whatsoever it just reinforces the idea that you really should be more secure with your cryptocurrency and you should not leave you can certainly leave some if you have active orders if you have orders open whatever you might need to be doing but you should not leave a majority of your cryptocurrency on any exchange on any one exchange or even multiple exchanges just because you are putting your control with another individual and that is something that is not always the best move on the planet so you want to make sure that you are doing that in an intelligent manner and again I always recommend a hardware wallet a ledger a treasurer whatever it might be now now that a lot of the FUD has potentially passed with the markets I'm sure there's gonna be new new issues that come out there's gonna be new articles things like that that go on we'll have to see exactly what might happen there but for the time being I am holding strong with my positions and I'm waiting to see what exactly happens with the market I am for the time being waiting to see kind of exactly what what goes on some people are saying and some people are telling me hey man you should you should probably you made you made some nice trades or you made a nice trade buying in lower you should probably ditched that I think we're about to head lower some people are saying hey we're you know about to run up to 9,000 $10,000 I'd like to see which way the market shake personally a little bit unsteady as far as where we might be going short term but also long term like I said before I am very bullish on the amount of money coming into the crypto space that will have a positive effect on the market in the long run so I feel fine in terms of just holding on to my crypto for the time being if you are new to the channel by any chance would love for you to hit that subscribe button the notify bail and if you're listening on the podcast any ratings or reviews I really really do appreciate them especially if you enjoyed some of the interviews that came out recently that would be fantastic thank you so much for your time crypto Bobbe signing out I hope you have a fantastic day night wherever you are watching it from take it easy pace

49 thoughts on “Crypto Bounces, Evaluating the FUD Behind Us”

  1. Just a question..

    Is spamtrading allowed on an exchange?

    ie, a coin or token is purchased on an exchange and then sold and repurchased for price slightly higher or lower to retain a price close to its existing price.. in order to prevent others buying at certain prices.. in other words, gridlocking a price so it can't move up or down..

    Does that make sense?

  2. I do not think anyone I have watched or had discussions with "EVER" hit the bottom just right on their purchase….

    Just how it goes..Like you said you just have to feel good at whatever Buy or Sell price you were capable of hitting…

  3. The interview with Charles Hoskinson was very informative. Thank you so much for having him on your video and for addressing the need for research. I look forward to these videos and your podcast on Patreon.  I learn lot by watching, listening and doing my due diligence.

  4. Exaclty when market crashed – I didn’t even redistribute like you, that’s still a loss dude

    The difference between you and winners is they pump cash in when it dumps i have 2k waiting to buy again and I’m not buying until it happens again
    We are not out of the woods yet

  5. Bobby – you rock man. Channels like yours (mostly just you…) keep me going through the roller coaster we are all on 🙂 thanks!

  6. 10:29 Absolutely. Bitcoin is more popular now and will remain to gain traction from this year on. John McAfee won't have to eat his own ** 😃 
    I went in heavy myself on Bitcoin at 8k and HODL. I suggest everyone else do as well if they are only thinking right now, it's already hitting 9k as I type this.

    Best of luck to everyone. ( LiteCoin is another one to get into if you don't have a lot to invest that is also expected to boom this year…It's also "Trusted" )

    16:00 I'm using Exodus for now. If I get to a 100k or more, then I'll get myself a Trezor or Ledger Nano S.

  7. Bobby could you please do a video on RSI and charts. How to read them correctly. Thanks Bobby, I always watch your videos. Keep up the great work.

  8. Hey Bobby great show I do have a question you mention that you cost average in every day whether it's up or down can I ask what kind of percentage or how much do you do and do you doing it like on coinbase or something like that thank you

  9. When you say you didn’t sell and put some into fiat during the dip/crash do you mean sell on Coinbase to usd for example or to tether on Binance?

  10. Agree with all the bullish reasons you give, and in addition I'd add that yesterday (Thursday) was a very drama-filled day in the markets and yet the entire market was UP 4% on the day… a sign the tide has turned and we're heading into a bull market

  11. I don't think the drop is over… the 1 day chart is still pretty clearly on a downtrend and is in a downward channel. Of which we're right at the top of right now. IF it breaks north and hangs out for a bit we could say the downtrend is over but until that happens… I still think we're going to fall a good long way. And looking historically when these kinds of crashes have happened, the price seems to bounce off the new low then fall back to it and settle there for a while before it starts climbing again. We'd be at the tip of the bounce right now if history is repeating itself.

    My thoughts are that cryptos are going to be down for much of the coming year if not the next few months at least. But like you said… that's too good of an opportunity to pass up. People will start dumping in more money if that happens and I'm certainly one of them.

  12. Hey. Bobby, can you explain how you submit the DCA orders on a site like bittrex? Do you just divide up the amount you are buying and break it up into multiple orders with varying bids or is it something different?

  13. Hey CB! Great video as always, Curious to get your thoughts on MEW vs MC moving forward for ERC-20 token storage. Have a great weekend!

  14. Hey Bobby, don't stress about not selling at the top. Guys from the .com bubble say that their biggest regret is selling too early, not sitting through some massive dips. Sitting through corrections is not the big risk. Missing out on the massive growth coming up is the bigger risk. We'll go crazy playing the "I should have" game.

  15. To me….this crash was healthy, too much euphoria was in market with new hands. I feel like this crash, was a dip where we were able to cost dollar average our way back into some coins we thought we missed the boat with….cheers Bobby, let's go grab some shots bro

  16. Listen Bobby. It doing a great job…fuck the haters man. I am bullish on crypto in the long term. The innovation alone is mindboggling. And if we can distribute some wealth to us earlier adopters, then so be it. I'll hodl to the moon bud

  17. Really, don’t think you should change a thing. I like the interviews and impressions from conferences, so any more of that is good, but don’t change your style. Of all you-tubers, you come off most like one of us. Genuine, a regular guy in the space. Not some know it all who acts like he never makes a mistake or tries to claim after the fact you saw a rise or fall coming and falsely claim you have been telling us for weeks to buy or sell. I think many of your subscribers feel like we relate to you more than and/or better than others. That connection and your transparency makes your content particularly relevant to your average subscriber, and is likely your greatest strength. Don’t get away from that. Thanks, man.

  18. PLEASE ANSWER Bobby! I absolutely agree with this video. My questions…. I just purchased a nano ledger s and it is in the mail. Can I store my ADA, and your personal favorite TRX on it? I’ve be researching the issue and I see conflicting information. How do you store your ADA and other crypto? I’ve been keeping my BTC & ETH on coinbase/GDAX, but everything else is on Binance. I have just over 5k ADA (which is a lot for me) just over 20k TRX lol, and small amounts of a handful of other cryptos. This would be a huge help to me. Thank you!

  19. what do you think of litecoin should i invest more into it or bitcoin? what would you do with a few hundred bucks. do a video of how to invest say 500 bucks in crypto

  20. Crypto has gone up a few bucks big deal! It keeps showing us it wants to crash again. Nobody trusts it anymore who is dumb enough to dump their cash into this flea market?

  21. Hello From Brazil I love watch this videos following all the tips. I am new in market but already loving the ideia projects and every thing else..thanks for the Channel

  22. I have cryptos that Ledger Nano S doesn't support. Any suggestions on where to keep my cryptos other than Ledger Nano S?
    Thank you for your help!

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