LATEST CRYPTO NEWS! WHY CRYPTO IS DOWN TODAY AND WHAT YOU CAN DO TO PROTECT YOURSELF!

Summary

In this video, Austin discusses the current downturn in the crypto market, with a market cap drop to $2.38 trillion, down 2%. He attributes the decline to macroeconomic factors and Federal Reserve policies, particularly regarding inflation and interest rates. Despite Bitcoin's drop to around $65,000, Austin advises viewers to stay calm and not let emotions dictate their actions, emphasizing that this volatility was expected and part of the market's natural cycle. He predicts Bitcoin could reach $60,000 but will likely fluctuate between $60,000 and $70,000, suggesting a strategic approach to navigating these market conditions.

Takeaways

• 📉 Crypto market is down, with market capitalization at $2.38 trillion, a 2% drop from $2.5 trillion.
• 🔻 Bitcoin is now in the $65,000 range, and it might drop below $65,000 soon.
• 💼 The ongoing narrative for the market downturn is due to macroeconomic factors and Federal Reserve policies.
• 🏦 Inflation and Federal Reserve's decisions on interest rates continue to impact the crypto market negatively.
• 📊 The market has experienced a 20% drop in crypto market capitalization recently.
• 🕒 Historically, the market tends to struggle for five to six months after a Bitcoin halving, and we're in the middle of that period.
• 📅 August is expected to show improvement, with better times anticipated in September and October.
• 💡 Advice: Don't panic, stick to your plan, and avoid making emotional decisions.
• 🔒 If you have long positions, understand that temporary losses are part of the market cycle.
• 🌐 Invest in blue-chip cryptocurrencies and meme coins with a long-term perspective.

Q & A

What is the current state of the cryptocurrency market according to the video?

The cryptocurrency market is currently experiencing a downturn, with the market capitalization at around 2 trillion 380 billion, down 2% from a few days prior when it was over 2 trillion 500 billion.

What is the role of the Federal Reserve in the current state of the crypto market?

The Federal Reserve's policies, particularly regarding interest rates and inflation, are significant factors contributing to the downward trend in the crypto market.

What does the speaker predict for the crypto market in the coming months?

The speaker predicts that the market may dip further into the 2 trillion 100 billion range and that the situation will start to improve after August, with September and October being particularly promising.

What advice does the speaker give to those who are worried about the current state of the crypto market?

The speaker advises not to panic and to stick to one's investment plan, acknowledging that the current volatility was expected and is part of the market cycle.

What is the speaker's view on Bitcoin's potential price movement?

The speaker believes that Bitcoin could drop to 60,000 and then fluctuate between 60,000 and 70,000, with the current price being in the middle of that range.

What historical pattern is mentioned in the video that might affect the crypto market?

The historical pattern mentioned is the post-Bitcoin halving effect, which typically sees a market downturn about five to six months after the event, which happened in April.

What is the speaker's strategy for dealing with the current market conditions?

The speaker's strategy includes having a plan, not letting emotions drive decisions, and diversifying the portfolio with blue-chip cryptocurrencies.

What does the speaker suggest doing during the current market downturn?

The speaker suggests taking the time to step away from crypto and focus on other activities, while staying aware that the current downturn is part of the expected market cycle.

What is the significance of the consumer price index (CPI) report mentioned in the video?

The CPI report is significant as it provides insights into inflation, which is a key factor influencing the Federal Reserve's policies and, by extension, the crypto market.

What is the speaker's opinion on the role of macroeconomic data in the crypto market's performance?

The speaker believes that macroeconomic data and Federal Reserve policies are the ongoing narrative and main reasons for the crypto market's performance.

What is the speaker's view on meme coins and their potential future performance?

The speaker is not worried about meme coins despite their current downturn, as they believe these coins will recover and go back up based on fundamental market beliefs.