Crypto Market MELTDOWN!!! Is Anyone Alive Out There…? #BITCOIN



what's going on guys it's k-dub here with another episode of crypto zombie so it's Friday it's the weekend we made it and before we move on can I just say that apparently now it's completely alright for teachers to let their students play with giant fireballs it's just got to say that I never had a teacher that cool in school speaking of a giant fireball guys these markets are literally on fire right now they are bleeding everything is in the red as you can see right here no but seriously actually this morning bitcoin sv did flip Bitcoin cash actually I'll give it a quick refresh now so they're staying steady right now however I think the real Victor here is this guy tether okay tether is now officially the fifth largest crypto might as well be the first largest crypto at this point right guys so we saw another seven and a half percent hit on Bitcoin Bitcoin dominance skyrocketing over fifty five percent with a hundred and eight billion dollar market cap are there any gainers today gold bits is up still don't know what the heck that is gemini dollar sv ravine link each other yeah okay so let's just say it's not a good day for the markets guys so seriously though there has been a lot of turmoil going on lately and it's not just affecting traders and investors it's affecting the actual teams themselves you know we've recently seen steam it layoff some of their people I was speaking to PT YX about Komodo and although they said that they were very well prepared for this downturn you know they're still having some struggles as well and now you're seeing the etherium production studio consensus recently announcing that 13 percent of their staff is going to be laid off as well so they go that even though we're excited about consensus 2.0 our first step in this direction has been a difficult one we are streamlining several parts of the business including consensus solutions spoke and hub services leading to a 13% reduction of mesh members projects will continue to be evaluated with rigor as the cornerstone of consensus 2.0 is technical excellence coupled with innovative blockchain business models not to mention the fact that they also said that they are axing products that are not performing well although ironically enough Jackson Palmer the creator of dogecoin points out that he thinks it's still funny that coinbase bundle Pro still has the comparison that if you had bought $100 a year ago you would have twenty one dollars and twenty four cents today but hey at least they're being honest right guys so what is the big news of the day okay I'm not gonna drag this one through the woods we already know so basically the SEC has yet again postponed the decision for the Bitcoin ETF the deadline is now set for February 27th in order to review the changes okay so the statement that they put out was the Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposal the proposed rule change so that it has sufficient time to consider what is happening okay so under the Securities and Exchange Act the Commission must issue an order approving or disapproving the proposed rule change no later than 180 days from the initial time and as you can see right here if you come over to Twitter so this is Jake turf in ski now he's like a crypto lawyer and he just says as expected the SEC has delayed its decision on the van act solid XP TF proposal until the absolute final deadline now right here you guys can see this is it the SEC cannot delay again so if they don't make a positive decision on it that's it forget about it there's not gonna be a van eck ETF okay so moving you know on the same topic Hester Pierce you might be familiar with her she's dubbed crypto mom obviously because she had that dissent against the FCC's decision to reject the Bitcoin ETF by the Winklevoss twins so she says definitely possible could be 20 years from now or it could be tomorrow don't hold your breath the SEC took a long time to establish fin hub it might take even longer to approve an exchange-traded product okay she's also trying to our colleagues to have a bit more of an open mind when it comes to crypto adoption but obviously these things do take time she went on to say I think we need to encourage institutionalization in crypto that's not what people in the space want but I think there are institutional folks who want to be in the space and the best way that we can offer retail investors to get into the space is through a place that's more institutionalized so they asked her about the recent SEC enforcement's basically she said that people have to comply with the laws but the government is obliged to figure out whether the regulation is preventing people from realizing new or innovative ideas she concluded by saying I want to make sure that the doors to innovation are open wide enough and they're not too constrained by regulation okay now our good old buddy Bitcoin Ben he says the SEC will never approve a Bitcoin ETF the SCC's job is not to protect the people it's to protect the system we don't need them they are a dying system trying to cling to life remember they live off your group you granting them authority by caring what they say turn your back to them so that's one way to look at it now we have had others chimed in on the situation as well one of them being the ratings system WAIS cryptocurrency ratings now a lot of people are not particularly a fan of these guys they don't always agree with the way that they rate and value different currencies however putting that all aside they are actually pretty excited for backed okay they believe that backs scalable crypto trading platform which is specifically geared for institutional investors will have a tremendous impact on the space when it goes live next year they go on to say it's hard to imagine a scenario in which backed will not open the floodgates for large institutions to buy crypto and the consequences are potentially far-reaching they also believe that back might even help resolve issues that caused the SCC's rejection for crypto ETFs to begin with the regulator's main concern is that there's no trusted price information and over Alliance on futures markets so these are issues that could potentially be resolved with Beck's presence however it's not all paw as we know there's also some concerns about all of this institutional money and all of these different tools coming in so they worry that Wall Street could someday control cryptocurrencies by adding a lot of leverage to the game they fear high-risk crypto derivatives the same kind of stuff that helped you know basically aggravate the 2008 debt crisis that in turn gave rise to the invention of Bitcoin right so they argue that Bitcoin was supposed to be a part of the solution not a new part of the same old problem and guys I just wanted to point out this is an issue too when you consider Nasdaq futures coming in I mean everybody's really excited about it right but essentially what can you do with futures well you can sure so are we encouraging these guys to come in and basically just keep shorting the market more right well I mean yeah you can you can long but why would you long if you could just buy I mean I don't know some people they like to do everything cash settled that's just how they want to do it but if I thought a commodity was gonna go up and I am an individual who does believe in owning my own things I would just purchase that actual underlying asset which would be Bitcoin itself but that's just my opinion guys but that being said these instruments do encourage shorting so we have to definitely keep in mind about that now talking about the SEC talking about regulations and what's happening in the United States a lot of people are concerned about this but there are two new bills focusing on crypto currency market manipulation that aimed to position the u.s. to be a leader in the cryptocurrency industry so these two bills are called the virtual currency consumer protection act and the u.s. virtual currency market and regulatory competitiveness Act okay so these are going to go before the house you have Darrin Soto and Ted bud they are the authors and they said that they wish to provide data on how Congress can best mitigate these risks while propelling development that benefits our economy so it looks like they're kind of agreeing with crypto mom that we need some form of regulation but we don't want it to get in the way virtual currencies and the underlying blockchain technology has a profound potential to be a driver of economic growth they said that's why we must ensure that the United States is at the forefront of protecting consumers and the financial well-being of virtual currency investors while also promoting an environment of innovation to maximize the potential of these technological advancements and here's the other thing too obviously if these guys were just like screw this you know we're just gonna ban it or we're just gonna you know say it's illegal you know they haven't done that we haven't seen that yet we've actually seen the u.s. just trying to regulate it I mean basically let's be real these guys just want to regulate it they want to get they want to know how to how they can make money off it right how they can get taxes paid in Bitcoin right that's really the main concern but you know we'll have to take everything with a grain of salt but the thing is is like you're seeing things like this by Nance hit with an influx of institutional demand why why why does anybody want to get involved in this if it's it if it's a falling knife or if it's a you know an apocalypse it's dying it's it's it's over it's dead right so the interesting thing is that finance is now going to allow organizations to create multiple trading accounts under one profile along with improved managerial control and asset audit tools so the CFO went on to say that we're seeing an influx in institutional accounts in the space and anticipate institutional demand to pick up substantially in the coming months one of our key focuses is to provide a platform that services the needs of these clients as well as our retail users now guys I don't want to just always talk about what's going on with these figureheads these guys that are in the space I mean you have to admit to sit here and have a show about cryptocurrency and blockchain and only ever mention what people who are in the space are talking about does seem quite biased I came across this post today it actually has 176 comments it looks like it's getting a lot of views on reddit and this is from somebody who does forex forex trading and does not own any crypto and I just want to read this to you real quick it's not that long it might take like three minutes okay but check this out so he goes on to say it's fairly simple the market manipulators be it people corporations or banks have one goal in mind to buy up all of your coins for pennies they're not stupid these people pay people millions to just sit at a table and talk about stuff like this they understand that crypto is like Pandora's box it's been open and you're not going to be able to close it they also understand that they missed the opportunity in 2012 all the way through 2016 to get control of the market and they also understand that there's only one option crash the market crush your spirits and buy up all the coins for fractions of pennies on buy pennies on the dollar remember the saying when a retail investor misses the train they miss the train when the institution's missed the train they pull the train back right so this guy says I personally do not have any skin in the crypto game however I've been paying very close attention to it over the last 12 months my current feeling is that the end game of these groups are approaching that is to hit lows that you thought were so impossible it crushes your spirit and forces you to get rid of your coins okay and then you're gonna you know sell it off and maybe just buy something with whatever you have left over you know he goes on to say maybe a car a bike a TV xbox etc but the question that we need to ask ourselves is what number is that spirit crusher you could probably feel it in your gut what that number is he says that's where I predict the market to go now for me I bought my first Bitcoin at 2,200 okay everyone has their own personal you know crusher number if Bitcoin goes down to 2,200 then at that point then I am seeing negatives as well okay you know but personally for me even beyond that I would say 1,500 I mean what is your personal crusher number if you had to say I'm curious just drop it below what do you think is the number that these institutions would finally go okay that's enough we're buying up the dip okay I am curious so they go and say that whatever that number is whatever this magical number that they're gonna crash the market to the market manipulators will then buy up all the coins for fractions and then let the markets loose to reach all-time highs again now that they have control over the markets he says my gut tells me that this mega low is coming very soon possibly in the next few months followed by a reversal in summer autumn of 2019 and then a bullish market in 2020 and this is what the markets have done time and time and time again great story compelling and rich interestingly enough I got to talk about Morgan Creek digital we got the pump okay over here so this is the crypto management firm for institutional investors and they are saying that they are going to bet 1 million dollars that it's crypto index will beat the S&P 500 in the next decade it's kind of like a similar twist on when Warren Buffett made that wager that said the SSSP would beat out a bunch of hedges back in 20 2007 so you go on to say that this is a combination of our outlook not only for the upside of crypto currencies but also the outlook on public equities a lot of people might look at this and just think we're bullish on crypto but you need to look at what assets were going up against public equities aren't exactly at their all-time high either but it's okay guys don't worry because black moon crypto has apparently introduced an inverse eath strategy now I just want to take a break for five seconds okay I wanted to look into this because I saw this this morning it was like what the heck is this so apparently it says that we are proud to present coming from black moons research labs the inverse eath strategy so the strategy seeks to generate returns opposite to the performance of eath it provides investors with positive returns when eath goes down and negative returns when eath goes up and this is the BMX ie this is really really strange so it'll have an inverse correlation so it says that unlike short positions you can transfer BMX ie you can trade it or even hold it in your cold wallet we're excited to release such a game-changing product now when the crypto community is in such a need for a stable environment with a wide range of investment strategies so this is really interesting if you guys think that Ethan's going to continue to crash maybe consider buying some BMX ie not financial advice just kind of had to interject with this I think that we're just getting crazy out here guys we're just starting to think of anything we're we're getting a little too little too mad out here I think these markets are making us go kind of crazy so also people have been going crazy over the concept of you know mining for a loss and Bitcoin death spirals now we've disproved this time and time and again but you have obviously um Andres Antonopoulos chiming in on this and you know he's a very very well respected legend essentially in the space and he goes on to say that it's an unlikely scenario since miners have a long range outlook in fact if they wait until the difficulty retarget and that difficulty becomes less it gets easier to mine then each miner who waits makes more profit because in the new scheme they have a greater percentage of the mining power than they did before so let's say if mining power drops by 50% the miners who stick around and wait for the difficulty retargeting are now twice as profitable after the adjustment so that's a pretty good incentive for people to stick around wanted to just say that guys because you know everyone's freaking out like yeah the smaller guys are gonna have to close up shop but you know some of these bigger players I mean I mean even bit Maine has reported a pretty bad q3 but they are looking long-term and it's kind of like dollar-cost averaging you know a mine for a little bit of a loss now but then if it drops you know you get a lot more later so that's just basically that now speaking about mining guys a new lawsuit alleges that proponents of Bitcoin cash ABC one of the two competing iterations of the Bitcoin cast cryptocurrency illegally manipulated the market damaging investors as a result so these guys are getting a little pissed off about this I kind of had a feeling that something like this was gonna was gonna happen to be completely honest so the suit claims that Bitcoin calm and bit main and their respective founders hijacked the Bitcoin cash blockchain especially by dedicating mining power in theory assigned to mining the Bitcoin blockchain to mining what was then referred to as the Bitcoin ABC chain I mean they had even publicly stated on the pool that they were moving all the hash power over to mine I mean they did say they were doing that so United Corp claims that it justifiably relied on defendants misrepresentations by investing millions of dollars in development and deployment of infrastructure specifically for the mining of Bitcoin cash and has suffered damages as a result further the suit claimed that bit main Bitcoin comm and veer have been unjustly enriched by the conduct described above so yeah guys that's happening right now and also MasterCard has filed a patent for a method of anonymizing transactions on a blockchain according to an application published by the United States Patent and Trademark Office cool I'd say come here to gain alright so guys moving on to the end I just want you guys to check this out I don't know if you've ever seen the original I am ha tooling post ok this is essentially where the term Hottel came from so this guy he was drunk he was having some whiskey this came out in 2013 and he basically goes on and he says oh no it's going down I'm not gonna sell and he talks about how he's not smart and all these other guys are making these big bucks and he goes I don't care I'm ha telling you only sell in a bear market if you're a good day trader or an illusion knew the people in between hold and a zero-sum game such as this traders can only take your money if you sell so you know there you go with that and also we have Dan Hetal ok and clearly he got his name because he held or huddled through the last bear market and he says I will through this one below this is my tweet from 2015 join me and your fellow peddlers on the journey to free humankind and right here you can see January 13 2015 Bitcoin sell-off continues Pottle this chart look familiar guys looks a lot like the chart that we've been looking at recently doesn't it so that being said before we go on guys I have one serious thing that I want to touch upon I hate to end on a downer like this but it's something that really bothered me so it turns out that um you know zhang shu saying he's the founder of blockchain VC firm dan hua capital he's also an award-winning professor of physics at Stanford University he has died guys and and they are saying that they think it was a suicide and he's been battling a massive massive depression recently I can only assume a lot of this has to do with the crypto markets I I had a chance to meet this guy in person at the blockchain connect conference I I sat down I had breakfast with the guy I had a conversation with him and it's just incredible to see what this space is doing even to you guys like this that are held in such high esteem and and and you know it's it's just sad it's unfortunate and I just want everyone out there to know that times like this could be difficult but if you are in a situation like this just understand that that is never that should never be an option okay you know your mental health and your physical health is so much more important than anything in crypto okay you can always get money you can always go get a job again you can always build back your your savings okay yes it might take some time and yes you might be set back a year or two okay but you know it's another day we're here you know we're awake and and we're alive guys and I just I just want you to know that the communities here we're here I'm here you know just please that's that's all I want to say before we go guys you know just please put your mental and physical health first and and there's always somebody and there's the communities here for you okay so I don't want to I don't want it down it anymore guys but please seriously like you know just chill out you know go google walk outside you know put put crypto down if you have to walk away let the bear market crash let everything burn and you know it's put some savings save some money and Fiat you know and come back when you're more sure that the markets are gonna go back up you know you don't have to invest in crypto every single day so that being said guys enough about that you guys know not financial advice never invest more than you can afford to lose you guys know the drill by now that being said it's Friday go out hang out with some friends forget about crypto for the weekend go see some family have a picnic well don't have a picnic in New York because it's freezing but if you're a little bit south go have a picnic somewhere and that being said I want to say thank you so much for everybody that's been liking subscribing commenting you guys are freaking awesome you're the reason that I do this every single day remember if you need to talk to somebody the crypto zombies community there's plenty of places that you can talk on telegram and forums and everything else and that being said guys that's it for the day that's it okay so get out of here what do you still watching the video for go enjoy your day my name is Kay dub this is crypto zombie until next time stay crypto and fils out

27 thoughts on “Crypto Market MELTDOWN!!! Is Anyone Alive Out There…? #BITCOIN”

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  2. Great video as always KDub.
    Simple answer – nothing will make me sell in a bear market!
    Why? –> https://steemit.com/crypto/@sarbsingh/what-s-my-crusher-number-and-how-i-cope-with-bear-market-personal-thoughts-nothing-in-this-post-should-be-considered-financial
    (this is what you made me do – LOL)

  3. My crusher number would be zero.

    Basic point – I'm already at a staggering loss and its "as if" I've lost everything – some crypto's are minus 90% and the entire portfolio is minus 78%

    Whats the point of selling ?
    Yes, can buy something with the remaining money – but how much pain would I feel if it went back up 90% or more ? lets say hitting new ALH's – thats more painful.

    What about selling my current gains ? eg I have QNT quant doing quite well but not exactly a fortune, just green and "nice" – if it remains that way, in a bull run this could be one of the most valuable investments and a game changer, removing other losses and gaining. (personally, I think QNT can be easily double figures >$10)

    Rule #1 of crypto – dont get in if you cannot afford to lose.
    Rule #2 – this money in crypto was in the bank and not planned for usage in the immediate future – so I have no immediate concerns or plans to do anything with it. I can wait 2 or 3 years and by then, I probably will feel as if it was just a bad dream of FOMO "a few years ago" if lost. (just care not to keep adding to the loss over many years)
    Whats the alternative ? The money in the bank was less than 1% interest and not going to change in value. I already have property investments and they are too much hassle and dont want to get involved in further real estate. Stocks and shares are a terrible choice and I find them too slow and utterly boring.
    Maybe some Gold….useful to diversify a little, thats true.

    Basic point – I have no regrets in losing around 80% and possible all of what are 2 yrs of wages – the upside, the possibility of never having to work for a salary again, the down side, writing blogs on youtube for therapy about losing so much..

  4. I have no crush number. It doesn't matter where the price goes – the extraordinary power of cryptocurrency is getting even more powerful. When you understand that you would live in cardboard box before you sell.

  5. IM STILL IN THE FUKIN GAME WITH NERVES OF STEEL – GOIN ALL THE WAY TO THE NEXT BULL RUN – SEE YOU SURVIVORS THERE

  6. I think the soul crushing number could be $500 – $1000. The issue is this market cycle indicates that bitcoin might only bottom in February…but the issue now is that the SEC final decision is also in February…so a critical decision is going to be made at a point in time where btc price should be close to bottoming….so if the decision is to reject it when its at such a fragile state it could plunge waaaay lower than people think which i think will be the true capitulation phase. To be honest if you believe in the tech and understand the potential and so on…then its better to look at this in a long term view which will make whats currently happening irrelevant.

  7. #EXMR remained strong and stable despite the market crash! Only 15M total supply – so potential 100x in 2019! | exmrfoundation.org

  8. Seriously? Binance is going to allow big institutions multiple accounts? Okay so BIG COMPANY INC can sell 200,000 Litecoin to itself for 1/2 a cent thus tanking the price and creating a floor where they can buy up anything and everything. This is considered good?!?!

  9. KDub, always appreciate ur TA/FA/Commentary& great intros!
    Several huge miners r struggling (GigaWatt files Ch11), small miners r much better off.
    For several reasons, most large miners way over spent on facilities/HW/Infra, as the small miners pay as they grow.
    I've also seen a YT TA chart having [email protected] a potential bottom ~mid/upper100'sUSD, yikes.
    For now, I backed out last week & circling like a vulture waiting for clear&distinct buy back signals.
    Kind regards 2 all.

  10. @Cryptozombie, the Forex Trader Reddit Profile and his post have been DELETED !!!
    Save your Screenshot !
    That could spark all sorts of Conspiracy theories !

  11. Dear crypto community, please stop hanging your hats on etf and bakkt and Eris… they are not your marketing arm. Only you can market your product and enhance adoption. These institutions market themselves and only themselves.

  12. 800$us… if they goes there all my friends sells … im still in anywais xd camme in at 20k im alrerady crushed xd even if im buying more each month

  13. I don't have a "crusher" number. I'm hoping it goes down as low as possible. Cause I'll be cleaning out my bank account to buy as much as I can.

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