Top 10 Reasons Crypto is Crashing Right Now

so I'm in the train today I'll give you guys a little bit of a peek of kind of where I'm at this is in the trang it's kind of a cold rainy day they have a storm it's coming in off of the Philippines tonight so just inside on my laptop here and I was going through some things this morning you know again just in the last few hours I'm really tanked again you know I thought we were gonna hold some support in terms of the overall market cap kind of being in the kind of being in the 145 to 150 range but again it's really fallen off and three it was even a little bit you know surprising for me to see prices kind of where we're seeing them right now and so I was doing a little bit of research and came across a few different articles I thought were kind of interesting in terms of like YouTube videos I think like maybe um probably one of the best put together videos that I've seen is was done by Krypto lark and Krypto lark he's been he's been in the crypts of seen a long time he has a really good following I put him kind of up there in terms of like crypto youtuber reputations along with the guys like crypto some decree a few other guys something you create asn't been doing as many videos lately but some of my might guys I really respect some of his videos can be a little bit harder to watch sometimes because he is like even maybe get over technical at certain times but I think that his analysis of kind of what we were seeing in the markets is is really spot-on and so I put the reasons in the description below and kind of wanted to go through those just a little bit so like the first reason box or in some you know kind of some of the the delays that we were seeing with the Bitcoin ETF some of the speculation behind like the market essentially taking a dip and crashing right before that delayed that delay like monster layman came out and so there's been some speculation of insider trading of some people kind of dumping in that market I think that you know some of these other rings probably the top three reasons that he had or probably some of the reasonings that I'm kind of seeing but a ripple basically sorry looks like I lost Wi-Fi their first SEC so the second reason we were kind of getting into was the market potentially overtaking Bitcoin and this has been something in a bit theorized for quite some time that we were gonna see the flipping and a lot of people were expected sorry for the internet issues hopefully it'll it'll stay strong but again kind of talking about you know potentially seeing a flipping with with rip over Bitcoin with rip over Bitcoin and so it might be something we were saying but there iam down at 123 just continuing to drop another ten ten percent drop I mean some of these prices are are really really pretty staggering you know kind of when we're we're seeing what they were just a you know just a short time ago so some of the other reasons the Bitcoin cash fork and some of the speculation behind that rod River and Craig Wright claiming to be very big major holders of Bitcoin and there's been speculation that essentially with their wale status they were selling off a lot of you know their own personal stashes of the coin to fund the you know be cash like hash wars that were kind of happened and so there was a lot of speculation behind a lot of the activity that was going behind the V cash fork that there was a lot of money being being driven into those markets through some of the the whales that are that are there namely Roger ver and Greg right though there may have been others that were involved as well looking at some of the other reasons so those are probably some of the top reasons mining has really become very if you're looking at like the hash rates the hash rates have really kind of exponentially or not well I wouldn't say exponentially but they've been steadily increased and just recently they've actually taken a little bit of a dip but for the 20:18 we've pretty much seen a steady incline with the hash rates of Bitcoin making Bitcoin mining less and less profitable and causing a lot of Bitcoin mining operations to pull the plug the big one namely was one of first ones that I did a very you know kind of professional crypto video on which was gigawatt mining I had a lot of faith behind gigawatt mining after meeting with Dave Carlson and and seeing the operations there a year ago the ICO that they were doing with their gigawatt token did not do very well and part of it was because it just I guess it never really truly launched and now they're going through bankruptcy and and I guess setting there it's it's it's it's they're like forcing them to perhaps leave the county they had a lot of operations that were in the Central Washington area and so that may have been part of the bankruptcy settlement I know that he did a lot of work and there was a lot of legalities behind setting up all of the the electricity grids coming into those mining farms so kind of the operations and everything that they had been setting up there was it was done in a way that was gonna favor mining operations in terms of power consumption because of the agreements they were doing with the public utilities and some of the the local municipalities in terms of getting large large amounts of electricity fed into those mining operations they were on the largest mining operations you know that there were out there by their own admission so they were a little bit I guess secretive with some of the mining operations that that they were given us tours of and they had them kind of scattered across Eastern Washington so it was kind of interesting to see that because that just recently hit the news in the last day or two the SEC has really been ramping up there kind of you know I mean you're seeing that the finding ether Delta the crater ether of Delta they're going after a lot of curved out companies as being you know classified as unregistered securities so they really want people to play by the rules and respect their authority and if you're not willing to do that they're gonna be coming after you if you know if you're a crypto platform and so we're gonna see a little bit of that kind of playing into the you know market speculation but I think that that's adding a little bit of uncertainty and that's why we're seeing you know perhaps investors that are pulling out of some of those those markets one of the other things that we're kind of looking at the big picture the stark stock market has been down the markets been way down recently and there's been a little bit of a a pullback globally in the economic market which apparently you know may seem as though crypto was not not immune to having having being affected by the other financial markets and the traditional financial markets so a pessimism some of the pessimism in the market there's there's really not a whole lot of hype you have you have a lot of speculation in the market it's almost purely full of speculation there's not a whole lot of coins or currencies that are done in a non fungible way where they're actually tied to a physical asset say like gold or you know maybe even like scarce things like artwork there's been some some new projects that are being kind of doing set up ways to set up you know tokenization of a large priced item so at least you have a you know something that's backing that that cryptocurrency and otherwise right now we're just seeing it's just a lot of pessimism with you know this is just a gradual continual decline some of the other reasons the end of the ICO that we had seen there I cos move probably very profitable there are some people that did very very very well and teen early 2017 and then we just saw just a explosion of icos and and everyone was kind of starting their own project or their own coin and most failed and there was really no regulation behind that now we're kind of seeing kind of the aftermath of that and there's a lot of scams that were built up in the ICT of space so there's not as much excitement to get into ice the ICO market adoption is kind of another one we're still really haven't seen a whole lot of adoption with crypto there's no industry in particular like no one single industry that's really been taken over by block chain tech where it's it's really just kind of revolutionized that industry I mean there's a lot of industries that are starting to incorporate blockchain technology and you know different cryptocurrency projects into whatever it is that they're doing they just really haven't you know fully been adopted yet and so at least on a larger scale so it's gonna take a little bit of time we thought that may have happened you know perhaps in this year as as things are as we're starting to kind of see how things may be they're gonna be regulated in certain countries so there are so many different projects that are kind of in the works though I think that that is something to just keep in mind there's a lot of cryptocurrency projects that are being developed in the space so the market being you know is right now is gonna be a temporary phenomenon that's just a great opportunity to get into crypto if you're you know you're sitting on an investment standpoint and want to put in look you know a little bit of money that's that somebody some of the last the last reason I think I'm going to go over lost Internet three times now all my livestream it's unreal sorry for the internet guys if you're staying in this put a next to the window maybe next to the window you have a better cell signal dude I'm in the middle of me enter US city and a nice hotel and I can't get internet that's good enough to run a lot okay so I apologize for the internet it gets frustrating sometimes when when the internet doesn't work so anyways getting into the last reasoning was was technical analysis and some of the support levels that we're seeing have been broken so a lot of people were seeing support at like the six thousand price level for Bitcoin and once they broke through that and kind of saw like a you know kind of a quite a bit of a drop-off because the next support level was was much much lower whether you want to look at that like five thousand forty five hundred range and then again once it kind of broke through that that kind of price plateau at least and when you're looking at that from a trading standpoint you know there's a lot of room to come down and so those were those were some really interesting reasons I think that those reasonings are pretty much spot on it's pretty much been the best best explanation that I've seen in terms of what's going on in the market so I encourage you guys to kind of check out that video I kind of did a short summation of that and there's some also some really interesting articles that you know this I put this in the description below this is a coin Telegraph article that goes a little bit more or I guess this one this is the one from today so this is kind of giving you an overall market so nothing that's really hugely down most of the major coins are down just slightly but it is down and you know this was also this article was twelve hours ago so in last few hours we've seen it dip down quite a bit more and and kind of what we're seeing this was an article talking about crypto derivatives I put this in a description below so I think this is kind of interesting talking about he'll be launching a crypto derivatives markets a lot of a lot of projects they're kind of in the word and you know talking about some of the regulatory challenges it's you know this is outside of the US so these are some interesting one this was a little bit of an older one those where I got the picture but fear and loathing an opportunity encrypted how crypto traders are handling the drop and kind of what you know it's just some different people's fears with kind of looking at you know how they're looking at the market so anyway some interesting stuff for you guys you're looking for some material but yeah I you know for me personally this is just you know since I'm already in in the market you know I think a lot of people were say getting into tether like in terms of like the trading volume tether right now at number eight and and the market cap let me see if I can look at look at volume change my cap yeah volumes tether still really high in terms of overall the line same with aetherium it's going on face and signal again 51% attack I'm just reading some of these these messages now when I was having some issues at my live stream yeah man um yeah I got a little bit away from bit nice and part of it has just been been traveling but I think I'm gonna try to like slow down my traveling a little bit so I have some time to kind of work on some stuff just like i I've just been out like doing stuff like basically on vacation hoping that the bad times would go away that were really gone away they've gotten worse so but but yeah this is an area that I'm in now the Trang is a pretty pretty major city might be here for a little while and then kind of getting my whole like travel and set up organized and whatnot so I can be a little bit more efficient I don't have my same like trade like the the office I can't like go back into my office that I had in Saigon where I can just get be in front of all the different monitors and everything so I got to do it I've got to do it a little bit differently when it what is Bitcoin currently it 42 42 do you stable coins are wait until it gets back to value I I haven't been using stable coins because there's a lot of uncertainty but behind tether for one I think like the true USD I'd be interested in getting more involved with that or getting involved with a project or trading platform that was that was using more of that let's take a look at that but I've been a little bit I don't know I'm just a little scared using tether I know yeah true USD they got a few other ones like they have this I don't know a whole lot about this u.s. USD coin maybe that was the one of the new ones that came out with Gemini exchange is that what that is but true USD now the 30th in terms of its market cap and it's kind of it exploded here but where is it trading cash cash she arrests I don't even know this one that's where all the volume is other than that it's financed maybe I'll you know maybe would have been a good idea to transfer some of my holdings that I have in finance you know it's kind of late at this point but most the volume and Finance oh let's take a look at the was that other one I don't take a look at that the USD corn Polonia ex-finance wine-based pro a little bit more distributed alright maybe I don't think I have a different one brought to you by circle and coinbase oh that's coin basis stable coin it's trying to get away from Circle Circle was one of the first crypto accounts that I had and then they stopped some of the stuff that they they worked a lot like coinbase when they first were like you were able to sell into your bank account they kind of stopped doing that and then kind of switched operations and then they got bought out by goldman sachs and so i lost interest in being involved with them at that point but i think the true USD would be the one that maybe i'll be looking to get a little bit more involved with craig what's going on man do you have enough fiat for three more months of traveling i'm not holding a whole lot of fiat to be honest i got a few thousand dollar i mean a few thousand bucks would probably last me you know a few months in Vietnam like if I'm not if I'm being careful with my spending so I probably need to get more like maybe I almost rather hold like true USD or some of these stable coins as opposed to like fiat I kind of have a good little system right now like I can at least remit to knows a little bit easy to use in Vietnam I don't have my bank account but everyone else does so it's kind of easy to work with them but when I start traveling to some of the other countries I'm looking to go to I'm gonna have to get some of this stuff sorted out before I go time for more extra feed bags yeah Ripple's been doing Ripple's been holding right around 50 cents it's down about 40 cents today but I imagine that we'll see a little bit of a rebound Bitcoin Dominus is way up though that's probably something that's worthwhile taking taking a look at because this has kind of happened since we've seen you know in the last few weeks one of this really August 15th kind of peeked over about 55 about 55 percent of the market was trading in Bitcoin and it's kind of been holding that ever since April 15th or so so I look out like last three months wherever the dunes there were north of Moon a there was past a bunch more like when we were coming up here and beautiful they got something there just like white they have something to read so I was fun this is this is a much bigger city I could tell that like coming in they got a bunch of buildings on under construction kind of where we're staying going to Burma I don't know I'll go wherever right now I'm look like I want to get one of those like I've been talking about getting like a trading set up so I have this computer and I want to get my other computer like I've got my other PC but I only have like basically those two screens and a and a iPad and I've been looking at the three screen setups like the three screen laptops and there's a company that that makes them that actually has like stores you can go into and they have one in Hong Kong and they have one in Taiwan so I think I want to travel to one of those two places and actually going to the store and take a look at that that machine and and and maybe look at swapping that out with the computer I have right now so I'll have a little bit more of like a kind of a mobile trading setup that'll have like three screens that I can pull out and then my my Mac my macbook would be a little bit more for like video editing and multimedia stuff and music haven't been to Danang or Tamia Tim Timmy I don't know that one but just plan on kind of making my way north I really want to see how long Bay which is right outside of Hanoi on the water is like where you see what a lot of those like limestone rock formations that are coming out of the water so it looks like but I want to spend some time there and maybe after that maybe I either go to Hong Kong or Taiwan Berman's cool visit agonism us plan on the travel around Southeast Asia so I'll be around so anyways those are those are some some resources for you guys to consider and in the bear market that we're in right now I'd be interested to see how it goes you know I I was I was thinking that the bottom was yesterday we were seeing like you know bounce it around 145 billion in the market cap and apparently that wasn't over this we were just sitting between 136 and 137 I don't know maybe this goes below 100 I'd be kind of crazy if it did we'll see last time we saw these prices or these the the market cap at these at these level was September September 19th 2017 you know and of course it was right before that just in the same boom but that was kind of more some of the normal levels we had been we had seen in that area alright guys I think that's it for me today appreciate y'all staying online see you guys tomorrow

5 thoughts on “Top 10 Reasons Crypto is Crashing Right Now”

  1. Crypto Lark Top 10:

    1 Bakkt ~ Insider trading? Delayed BTC ETF
    2 Ripple ~ Overtaking btc marketcap
    3 Bcash ~ Speculation dumping BTC to fund wars
    4 Mining ~ BTC miners pulling plug
    5 SEC ~ Fining Ether Delta, Unregistered securities, play by rules and respect their authority
    6 Wall Street ~ Market down
    7 Pessimism ~ No hype, all speculation
    8 End of ICO Boom ~ Overall ico market is
    9 Adoption ~ Lack of real adoption, no industry has adopted yet, mainly due to uncertainty of regulations
    10 TA ~ support levels at price levels

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