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First things first rest in peace uncle phil and happy father’s day to all the fathers out there i just want to say that up up front here so what bitcoin ethereum are going absolutely insane i just want to quickly explain what’s going on here essentially but wow i opened the hungry bowl app and oh my gosh okay bitcoin has uh recovered a lot in the past i would
Say 12 hours or so uh late last night bitcoin went under 18 000. it went into the 17 000 range uh ethereum was down to like 800 something dollars at one point ethereum’s come beasting back here and i want to kind of explain what’s going on so essentially what’s played out over the last few days when it comes to bitcoin ethereum is what’s called force selling
Essentially and this is a situation that you know imagine you could be a brokerage a hedge fund whatever and you you wind up into a situation where you took out way too much debt next thing you know you’re basically forced to sell off bitcoin ethereum other cryptos in general which kind of leads to more people being in a margin situation getting margin called and
Forced liquidation force liquidation so that’s kind of been what’s playing out here now behind the scenes guys um you know and this is what i’m hearing from some of my you know crypto folks there’s almost like a war going on right now in the crypto space and i don’t want to speak too much on this because um i don’t feel too passionate about it in regards to this
Potential war that’s going on and also it’s a lot of me trying to figure out um what is a potentially conspiracy theory versus what is true but you you guys can look more into that if you want but essentially there’s uh potentially a war going on between different brokerages um some hedge funds in the space some funds in general um some big whales in the space
That are trying to take each other down because somebody didn’t you know scratch somebody else’s back type situations okay but that’s a whole situation that cause for selling okay now if we look here um to be quite frank i mean the reason the bitcoin has started to go up here is just that that massive amounts of selling just ended this whole move down here was just
A massive dump all at one time of bitcoin which is very strange it’s like if you’re going to sell out a bitcoin why not selling chunks why sell all at one time so you absolutely crash the price you know like that from 20 000 something down to 18 000 like they literally just threw so much bitcoin out there at one time that it just completely collapsed the price in
That given moment right and you kind of had that kind of continue here and then finally you had some buying pressure come through and the buyer step in step in step in and uh next thing you know we’re over 20 000 now in bitcoin now 20 must hold this is a a good thing for the bitcoin bulls you know in the crypto bowls in general this is a big thing that bitcoin has
Gotten back to over 20 000 but it’s got a hold there if it just goes back there for a day or two it doesn’t really mean much it has to hold 20. if it goes below 20 for a second time here now in a short amount of time that is a very very bad news and that means you could be it could be some time that bitcoin’s under 20 essentially and you know depends on the person’s
Outlook like if somebody really wants to buy bitcoin and uh you know let’s say load up at 15 000 or something like that then you might be rooting for bitcoin to go back under 20. it just depends on what people’s time frames are if people are on margin and a lot of those sorts of things and obviously there’s a lot of short-term folks that are in bitcoin ethereum as
Well so that’s that drama going on man it’s a lot with these financial markets i’m trying to keep you guys up to date with everything going on also just want to let you guys know in the private stock group i’m basically putting together a new course over the next few weeks that’s going to be basically for everybody that’s in there called understanding capitalizing
From a recession it’s going to be a mini course where i teach a lot of different concepts show history recessions um kind of how these things play out i’ve definitely seen a lot of um kind of misunderstandings about what happens during a recession how these play out how bad it gets how bad it doesn’t get um understanding the what’s going on uh from the economic
Side from the fed side and um obviously from like uh you know who’s in office and those sorts of things as well because there’s a lot of different things that kind of play out and um so yeah if you’re interested in that check out pin comment down there and you can understand some more about the private group and things like that and if you’re not interested much
Love as always i’ll keep you guys up to date with everything going on in the market have a great day
Transcribed from video
Why Bitcoin & Ethereum Just Went Insane By Financial Education