SELL SELL SELL | Bitcoin & Ethereum Dumping Hard
Holy smokes folks this ain’t no dang joke is uh bitcoin aetherium it’s getting ugly getting ugly fast i want to share a couple thoughts with you guys here first off i apologize for recording this windows shirt on i just got done a workout just a bit ago i’m all sweaty i was gonna put a new shirt on and then i was like that’s kind of a waste because then you know um
You got to clean the shirt after so i’m like nah forget that i’ll just go shirtless not professional i apologize but nonetheless guys uh it’s getting ugly bitcoin uh is basically i just saw it recently it’s under 21 000 now uh ethereum’s getting sold off heavy 13 and a half percent xrp ripple’s down about 10 and a half percent salon is down 10 and a half percent or
So everything’s kind of getting nailed now everybody’s wondering like what’s going on here like why is everybody selling bitcoin all of a sudden why is everybody selling ethereum and all the other cryptos right now well okay so there’s a few kind of different thoughts here i looked at this one from coindesk and they’re trying to explain why everybody’s also selling
Out of bitcoin ethereum and everything else basically what they’re saying is bitcoin btc sells off sharply in response to global infa inflation fears bitcoin sold off sharply on friday’s trading and it was recently trading below 21.5 now it’s under 21 as of right now down more than eight percent over the last 24 hours now it’s down over 10 percent in the last 24
Hours the largest cryptocurrency by market capitalization is down 13 for the week now down about 15 percent for a week the decline started overnight trading coinciding with the unexpectedly high inflation data in germany germany’s annual producer inflation figures rose to a record high of 37 percent in july versus expectations of 32 percent which is a disaster
That’s insane okay producer prices reflect the price of goods and services sold by manufacturers for a region the german ppi data is uh analogous to the us ppi data the united states july ppi reading came in at 9.8 percent by comparison which is a cooked number let’s just call it that okay i think it’s a lot worse than that so that’s what coindesk is putting out
There okay um i’m calling bs 100 yes that’s not why bitcoin ethereum are tanking why everybody’s selling off those is because inflation data came in high uh in germany okay bitcoin and ethereum and all the cryptos already started dumping when after hours yesterday bed bath and beyond stock started tanking through the floor see the thing you gotta understand is
When it comes to the certain groups of speculation it attracts very similar folks and so the same type of folks that might be in a bbby might play also gme and amc a bitcoin ethereum and uh getting a lot of these different plays okay and it’s a lot of kind of the wall street bets crowd and a lot of those kind of folks right and kind of looking for where’s the next
Pump and those sorts of things and so when one of these groups has hurt majorly it pulls all them down and it also makes all these kind of go up together so if bitcoin ethereum are pumping guess what also cohen’s you know coincidentally goes up as well it’s the meme stocks okay meme stocks always tank hard and guess what just happens to go down as well bitcoin
Ethereum it’s not a coincidence let’s just call it that okay when these things kind of go together they all drag each other down or they kind of lift each other up and uh for the last like two months everything’s been helping everything so bitcoin ethereum’s been helping the hype stocks and the excitement stocks and growth stocks it’s kind of been a little more
Risk on for the last couple of months but uh yeah if all of a sudden you’re talking about uh stocking bed bath and beyond is now 40 trading today down another 12 after hours down nine bucks or so the amount of margin calls that happen here you know force a lot of people to sell it at you know it’d be you know forced to get margin called in these situations and you
Might think oh you know how many people are really doing that it’s a lot of people man it is a lot of people get caught up in these hype cycles and then they have to sell other assets and then it just kind of breeds in this fear fear fear and everybody selling everything across the board okay now over the course this weekend i think it’s important that everybody
Kind of keeps an eye on bitcoin aetherium and if these babies stabilize or if they just continue to weaken throughout saturday and sunday okay the reason being is if these babies just continue to weaken and weaken look for a massive sell-off in the market on monday okay if like let’s say bitcoin continues to tank through the weekend next thing you know it’s at 19
000 it’s at 18 000 uh monday would be a bloodbath in the stock market especially for anything speculative anything growth related anything like that we could absolutely uh traumatize the nasdaq in general so just do keep an eye on this if it stabilizes and monday should be okay in the market okay it should be an okay day obviously a bitcoin at all starts to come
Back and ethereum starts to come back saturday sunday then we could actually be looking at a situation where monday is actually a very good day in the market but these things all move each other around you know if we’re going risk on bitcoin ethereum are gonna they’re just gonna perform amazing that’s just a bottom line they’re going to usually outperform the
Market you know if you think here’s a here’s a you know an example if you think we’re going risk on bitcoin is going to outperform the s and p ethereum’s going to outperform the s p if we’re going risk on just bottom line if we’re going risk off the s p is going to hold up far better than bitcoin ethereum it’s as simple as that whether people want to be you know
Frustrated at that or whatever there’s no debate in my opinion there’s no debating that that’s the facts we’re risk on ethereum and bitcoin are going to move up way more in the stock market on average moves up and uh if we’re we’re a risk off those babies are going to tank way harder than the stock market in general look at the snp today down what a percent percent
And a half look at the nasdaq today down about two percent or so and look at bitcoin ethereum you know oh my gosh it’s just it’s like nine day difference but it works both ways essentially bitcoin ethereum almost act like a uh a 4x leverage on the market this is the way it uh kind of works there okay so um yeah anyways guys just want to kind of pass that along
There we’ll see what happens this weekend much love as always thanks for joining me don’t forget to subscribe smash and have a great day
Transcribed from video
Bitcoin & Ethereum Are Falling Bad Now | This Is Why By Financial Education
