BLACK THURSDAY: Bitcoin and Stocks Crash! What Happens Next? — Transcript

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1. 0:01Welcome back. So, today was
2. 0:04not a black Monday, but a black
3. 0:07Thursday.
4. 0:09Today was a horrible, horrible selloff
5. 0:11day uh for for everything actually for
6. 0:14crypto. Um even though it was bad, it
7. 0:17wasn't nearly as bad as the tech
8. 0:19selloff. I mean, the tech off was
9. 0:21brutal. So, where do we go from here?
10. 0:24What is going on? And more importantly,
11. 0:28is this a good buying opportunity?
12. 0:32Let's take a look. So, right now,
13. 0:35Bitcoin is sitting right around $76,000.
14. 0:38Okay, so if I zoom out a little bit,
15. 0:40you'll see that things aren't that bad.
16. 0:44Of course, I would prefer Bitcoin being
17. 0:47back up around here, 80 87. We have
18. 0:51fallen back to this point sometime
19. 0:53midepptember but overall you could see
20. 0:56we haven't broken down to like 73 or
21. 1:00obviously have gone down any further
22. 1:02right so we've basically come down maybe
23. 1:05like a month and a half to where we were
24. 1:08before we had this really good climb so
25. 1:12yeah so right now you could see some
26. 1:14green uh soul ETH ADA so they were much
27. 1:18much higher prior like maybe a few days
28. 1:21ago and unfortunately we have fallen but
29. 1:24I mean just look at this this was
30. 1:26horrible horrible
31. 1:29right like Microsoft uh not Microsoft
32. 1:32Micro Strategy down 9% Robin Hood down
33. 1:3510 coin down basically 10 Nvidia down 9%
34. 1:419% ARM 13 you got AMD who just reported
35. 1:45really good earnings yesterday down 17%
36. 1:49oh something happened there and then
37. 1:52just look at it. MU Micron down 17%.
38. 1:56Dell minus 14 15%. So like I said, even
39. 2:00though crypto did not have a good day,
40. 2:03tech stocks sold off much much much
41. 2:08more today, but that could be a good
42. 2:11thing. Now looking at liquidations on
43. 2:14ass, you could see 24 hours wrecked.
44. 2:18We're at 1.24 24
45. 2:21billion with a B. Again, most of it on
46. 2:24the long side. And the funny thing is I
47. 2:27mentioned this, you even you you even
48. 2:29have like a tokenized stock like Sandis
49. 2:32that's like third leading
50. 2:35crypto in terms of liquidations even
51. 2:38above Soul. That shows how many people
52. 2:40are holding or leveraging Sandis their
53. 2:44tokenized stock. It's kind of crazy. But
54. 2:481.254
55. 2:51billion liquidated once again.
56. 2:55That's what caused today's dump. Okay.
57. 2:57Everything sold off and you had a whole
58. 2:59bunch of people get liquidated and a
59. 3:02whole bunch of panic
60. 3:04and that's exactly what happened. So we
61. 3:08had three trillion over three trillion
62. 3:12wiped out from the overall market today.
63. 3:15I don't know how much was wiped out from
64. 3:17crypto, but it's definitely continuing
65. 3:20like right now. Well, this is just
66. 3:22showing that Nvidia lost all of gains in
67. 3:25the last 6 months. And basically, a lot
68. 3:27of these tech companies have, right?
69. 3:30Like if you look at like AMD, Dell,
70. 3:32Nvidia, all these guys did. Uh, and like
71. 3:35I said, this is continuing like right
72. 3:37now in Asia, steep steep selloff.
73. 3:41They're they're seeing
74. 3:43they're seeing their trading halted. The
75. 3:45circuit breakers are triggering 9% for
76. 3:49South Korea. You have a massive massive
77. 3:52massive overreaction
78. 3:56right now,
79. 3:57but it could be a good thing.
80. 4:01Why is that? A lot of people think that
81. 4:06obviously we needed some sort of
82. 4:07correction.
83. 4:09Okay? And after the correction, you know
84. 4:12what happens? Things recover,
85. 4:16right? So for those of you guys that's
86. 4:18been waiting for a golden opportunity to
87. 4:21get in, we have reset back to September
88. 4:25level. Okay, after this first climb up,
89. 4:28we were stuck in the 60s, even 50s for a
90. 4:31while, right? A lot of people gave up
91. 4:34while we were going through that.
92. 4:37after we came back down, a lot of people
93. 4:39gave up here. It took months, let's not
94. 4:42forget June all the way until September
95. 4:46for us to recover, right? And now we
96. 4:48have recovered a little bit. We're
97. 4:49hovering up here, but it took a long
98. 4:51time, many, many months. This also drove
99. 4:54a lot of people away.
100. 4:56So sometimes you need that capitulation.
101. 4:59And sometimes you need that liquidity
102. 5:01event where everyone is driven out where
103. 5:03all the fearful people are driven out
104. 5:05and then you can recover. And we saw
105. 5:07this back in September too. And it's the
106. 5:10same thing with the tech sector. Okay.
107. 5:13So like if you look at if I click on
108. 5:15Dell, you could see it basically got
109. 5:17reset all the way back here when most of
110. 5:21the tech companies started skyrocketing.
111. 5:24That is Dell. This is AMD. You could see
112. 5:28again they basically reset back to where
113. 5:32is that back in May when they all
114. 5:35started climbing up in a big way. Uh if
115. 5:38you look at I don't know
116. 5:42Robin Hood let's see kind of the same
117. 5:46way. I mean all these are like that. If
118. 5:49you go to Nvidia, right, basically
119. 5:52dropped back down to the pre pump
120. 5:56level. So, they basically reset. They
121. 5:59didn't go down any further. They didn't
122. 6:01lose all their gains. They basically
123. 6:04lost all the gains from the last few
124. 6:07months before things started rising up
125. 6:10in a big way. Okay. So, what does this
126. 6:14mean? I do think we had a very over
127. 6:20correction.
128. 6:21Okay. Um it's been like this for weeks,
129. 6:25months now. Really, all these companies
130. 6:28are still proving that they are very
131. 6:31legit. They're making money. Their
132. 6:33quarterly shows that they are making
133. 6:35money handover fist. Their revenue
134. 6:37earnings are still skyhigh. So P ratios
135. 6:41have dropped down. This is nowhere near
136. 6:44a bubble. Okay, there's a lot of talk
137. 6:47about AI. Yes, but we are not in the
138. 6:51same kind of situation as the.com bubble
139. 6:53in 2000. Okay, so yeah, we have
140. 6:57corrected in a major way. But I do think
141. 7:00this is a buying opportunity. I think
142. 7:02the market overreacted. Way too many
143. 7:04people have panic sold
144. 7:08and this is a good time to get in. Now,
145. 7:12it's easier said than done. A lot of
146. 7:13people are basically without any money
147. 7:16right now. And I get that. That was the
148. 7:18whole thing. That was the whole reason
149. 7:20why we flipped blue here in the US,
150. 7:24right? Complaints about war, about
151. 7:27inflation, about high prices, high gas
152. 7:30prices, everything. So, I get a lot of
153. 7:32people are struggling, but this is the
154. 7:33time to be
155. 7:35holding and dinging if you can. There
156. 7:38are a lot of golden buys, golden
157. 7:41opportunities
158. 7:43where you can pick up for cheap right
159. 7:45now and then months later, years later,
160. 7:49you will be rewarded. I've shown a lot
161. 7:52of charts showing that leading up to
162. 7:53midterms you have this correction and
163. 7:56sometimes you stay there for a couple
164. 7:58months and then normally speaking after
165. 8:0212 months
166. 8:04you're up like 30%. And I showed that
167. 8:07graph this morning. And if you go
168. 8:09further out, like actually there's a
169. 8:11graph that shows like 3 months, 6
170. 8:13months, 12 months, 24 months, 36 months.
171. 8:15And basically after midterms or
172. 8:17elections, things get really, really
173. 8:21good. Really good indeed. So again, some
174. 8:25people may be very very very fe fearful
175. 8:27right now. I get that. But this is
176. 8:30definitely a time, a golden time to be
177. 8:34buying and holding if you can
178. 8:38because things will recover. Things will
179. 8:40get better. It won't always be like
180. 8:43this. Okay. Now, tomorrow we will have a
181. 8:47jobs report. This actually surprisingly
182. 8:50may help us. Okay. Um the numbers
183. 8:54supposed to be 59,000 jobs added last
184. 8:58month and unemployment supposed to hold
185. 9:00at 4.2%. Right now if these numbers are
186. 9:03actually worse
187. 9:05and it actually will help the market
188. 9:07because it will kind of curb this notion
189. 9:10that we're going to have a rate hike.
190. 9:12Okay. Uh at this point
191. 9:15it's anticipated that we will have a
192. 9:17hike in December because of everything
193. 9:19I've said because inflation high price
194. 9:21and all that stuff. But if the numbers
195. 9:23come in really weak and now with the
196. 9:25stock sell off even though the Fed
197. 9:27always say that they don't care about
198. 9:30the stock market they do. So now that we
199. 9:33have reset
200. 9:36and if these jobs numbers come out worse
201. 9:38than expected is definitely going to
202. 9:40help things right. We may not get a hike
203. 9:42this year. That would be the best
204. 9:45scenario.
205. 9:48So, we'll see. All right, guys. That is
206. 9:51it. Hang in there. I know it's tough,
207. 9:54but hang in there. Things will improve.
208. 9:57Crypto will recover. in the grand scheme
209. 10:00of things is not as bad as it seems,
210. 10:03especially compared to where we were
211. 10:05back in June, July, August, and even
212. 10:09midepptember or mid August until
213. 10:11September. So, we have reset back down a
214. 10:14little bit, which sucks, but we're still
215. 10:17hanging in there. We're still
216. 10:18recovering, and better days are coming.
217. 10:21All right, have a good one, guys. Take
218. 10:23care. Bye-bye.