 Welcome to Digital Asset News to get top stories in crypto and bring them out of bite-sized pieces. So today, just like the thumbnail suggests, we're going to take a look at everything that is going on the market and the factors that would consider someone to sell their cryptocurrency. And on this channel, I don't try to do everything that is Hopium and everything's going to the moon. It's all fantastic. I try to give you the flip side of every story so you make the best decision for yourself. So we're going to take a look at what is essentially a bear market and actually put a definition behind that so we can move on. Also, we're going to take a look at what's going on the traditional markets because the traditional players have carried over into the crypto market and you can see there is a heck of a lot of overlap. On top of that, we're going to take a look at what exactly caused our crypto market to lose three to five percent in 24 hours. We're going to take a look at some data from Bybit and also, friends of the show, George over at CryptoZorus, he's uncovered some fascinating information. And then, I also want to share with you just a little piece of long-term investment thinking of how I see things and how other businesses see things as far as long-term. And then, finally, we're going to take a look at what I call the five to 10 percent penalty and the potential cash-out plan. And then also, I need to take just a quick mention that tonight we'll be doing a live stream with Coin Bureau and Crazy for Cryptos price predictions, which is just them criticizing me in my price predictions over on the second channel of Dan Clips. But that'll be later. But first, let's just break in to what's going on as far as what is a bear market. So, I keep getting this comment in the comments. And they keep talking about, why won't you just say it's a bear market? Why won't you say it's a bear market? Okay. Well, here it is. A bear market, just so everybody knows, is what a market experience is prolonged price declines. Okay. It typically describes a condition in which securities, stocks and stuff, prices fall 20% or more from recent highs in widespread pessimism and negative investment investor sentiment. Okay. Bear markets are often associated with declines in an overall market or index like the S&P 500, but individual securities or commodities can also be considered individuals, kind of like cryptocurrencies, to be in a bear market if they experience a decline of 20% or more over a sustained period of time, typically two months or so. Bear markets can be cyclical or long-term. The former lasts for several weeks or a couple of months and the latter can last for several years. I think we've already seen those types of things as far as the bear market. So, the question is, are we in a bear market? Well, as a definition by Investopedia, if we take a look at the Bitcoin price and we go over, let's do 90 days and we'll zoom in real quick and we can see that the price in May was pretty darn high, right? 59,000, 60,000 somewhere around there and that's May 9th. And then so in June 9th, we saw quite a bit of a decline, right? And then in July, we're still on a decline as we keep going down. So, can you say it's a bear market? Well, by the definition of Investopedia, yes, it is a bear market. The question is, how long is this bear market going to last? Are we talking about weeks? Are we talking about months? Are we talking about years? So, in my personal opinion, I don't think it's going to be a crypto winner like we had in 2018 to 2019 and 2020 really, when everything was moving a lot of sideways actions. I mean, there was still some peaks and valleys here and there, but I don't see a crypto winter right now and yes, it is a bearish and is a negative sentiment and that is very true. So, if you want to know, if you want to put a title to it, yes, technically, it is a bearish market. So, I hope we can just agree on that part and then just move on to the next part where we talk about what's going on and what's causing all this. So, first of all, let's take a look at what's going on in traditional markets and the reason I like to look at this is because it gives us an insight as to what is happening as far as the traditional players because there's a lot of overlap between the traditional markets and people investing over there as they come over here and the reason why is because there's only one market that's liquid 24-7, 365 and that's cryptocurrency. So, right now, yesterday was a pretty bad day for the S&P 500, Dow Jones and NASDAQ and there was all these articles actually, well, I guess it just changed, but yesterday it was like doom and gloom, everything's awful and it's all going, the sky's going to fall and everything else. So, from the opening for today, 9.30, it was down, right? But then look at this nice sweet little rally, so great. And then we take a look at what happened with the NASDAQ, the same thing, what happened with the Dow Jones, same thing, a nice fat recovery. So, as everybody was talking about it, the video we did yesterday we talked about when in doubt, zoom out. And we took a look at, let's take a look at the S&P 500 over five days. Yeah, so yesterday, if you just zoom in, it looks pretty awful. Look at that. Oh, my God, what was that? 1.24%. That's pretty crazy, right? For the traditional markets. Then we look at a month, okay, well, it's about the same. And I did the same thing yesterday, six months, if we take a look at it, not too bad because let me look how down we were. And then for one year, still pretty good, five years, and so on and so forth. So, again, still pretty good. That is what is going on in the traditional markets. And then also, some people have brought this to my attention, they go, Rob, you don't understand because there's this new Delta variant as far as COVID. Do not give me a thumbs down because you don't like COVID or the Delta variant stories. That is not the purpose of this one. I hate how I have to preface that every single time because when I talk about politics or talk about some stories, people will give me a thumbs down. It's like, Delta variant doesn't exist. That's not the point. That's not the point if it exists or not. What we're talking about is how that affects the market. So, real quick, Dow fell about 725 points. Monday, 2.1%. All right, Dow plummeted more than 1,000 points six times last year. So, yesterday was a pretty big day for the traditional markets. So, where are they going to go to recoup some of those losses? Well, there's always crypto. And I got this Bitcoin laying around just like Jim Cramer, who sold all his Bitcoin for I think it was like a new house or something or his mortgage. So, yeah, good for that guy. Anyhow, long-term bond rates continue to slide as well. A sign that fixed income investors are now far more worried about a Delta variant-induced economic slowdown than they are about rising inflation fears. The yield in the 10-year U.S. Treasury sank below 1.2% for the first time since February. So, here's the thing. We take a look at these T-bills and we're taking a look at what's going on. Yes, it did slide down a lot. And this is where people keep their money if they want to be like the safest option. Again, you could dispute it in the comments. I don't care. But it fell below 1.2. And that's a sign for life's traditional players to go. There's something wrong. However, if you just look at today, we've been fluctuating between 1.2, 1.23, somewhere around there, 1.21. So, a little bit of a recovery. So, that in and of itself is pretty good. So, I'm not so concerned about that. But again, I think it sends a signal to the traditional players. Also, as consumer prices continue to rise, CPI, which the spending ability of the dollar has gone down, consumer price index, and all those things, some worry about a more insidious threat, the possibility that another COVID-19 outbreak could slow the economy, even as inflation pressures mount. That's a phenomenon known as stagflation. And we talked about that as far as decreasing GDP. There's also an increase in the unemployment rate, which could lead to stagflation. So, that is one of those concerns. But it doesn't seem to be that big of a thing as we make a nice little recovery today in the traditional market space. That is that part. What is going on in our space? Well, we're at 1.2 trillion, down another 3.5%, almost 4% for the day. Let's take a look at what is going on with coins. So, I'm going to take a look here. Over the last 24 hours, 3% down for Bitcoin, 2% for Ethereum, 1790. I would like to say nobody cares, but some people keep talking about Tether and all these different things. Look, I know there's this big issue about Tether printing and things like that, but Tether hasn't printed for quite some time. People are worried about this audit. Look, the market cap of Tether is $60 billion. Let's just say for argument that they are a shady company and they are just printing things out of thin air. If we lose so many billions because we just don't have it backed up, then we lose it, right? Our market cap is $1.2 trillion. We used to have $2.5 trillion. Is it really that big of a thing? If 20 to 30 billion, let's say half, let's just say $60 billion goes out the door. Well, $60 billion, like, okay, well, that is what it was, and that's another black eye for cryptocurrency because that's just what happened. But would it cause everything to crash to zero? No. So I don't really care. When I say Tether nobody cares, maybe it's just me. I just don't care. I know people keep asking about it. It's just not on my radar. Binance coin, down, down. Everything's down. Everything's just down. That's just how it is. So what happened and what is going on with this crypto dip? Well, as we talked about before, everybody likes these stories. Well, I don't like these stories, but it seems like CNBC and CNN and NBC and all these places, they love these fud stories, you know, where the crackdown of the Bitcoin miners and then JP Morgan seems to really like this story about the grayscale shares. And just so you know, the grayscale Bitcoin shares, shares not Bitcoin, has an unlock period. Let me blow this up so you can see it. And so for people who have invested in these shares, there's an unlocked period of around six months or 12 months, some around, I think it's like six months now. Check me in the comments. But after that timeframe, those shares become unlocked and they can sell the shares, the shares, the shares of their Bitcoin stock, of their grayscale Bitcoin shares. So it's not like they're selling Bitcoin. However, JP Morgan has latched onto this and a couple of different news outlets and they say it's going to be awful. But I will just make mention that. Can you see this date of 21 July? See the most, the highest point of these grayscale shares? Well, today's 20th of July. So I think people, as they talk about fud stories, they can just kind of point this goal, it's going to be a massive massacre, it's going to be a sell off and people believe it and they start to sell. So there is that part and it is what it is. Also, I like this one from George over at Crypto's RS. He was looking at some data analytics and he saw that somebody had moved in an exorbitant amount of Bitcoin into Coinbase Pro. I think it was equivalent to like $2.5 billion. And it was moved in there. The way it sounds to me like what George said, it was moved, I don't think it was sold. But maybe it was sold. And if it was sold, that means it was sold, not OTC, but just as like a retail investor. And that may have caused another slide of Bitcoin. But sure, if you want to sell it, go right ahead. And that's just a couple of different reasons on top of all the different stories that we've heard about, on top of the Guggenheim, on top of everything else. So these are things that really it could come down to as to why it is. It's all about sentiment. And I can't stress this enough. It's not like the fundamentals have changed. It's not like somebody has come in and said, you know what? We're going to ban crypto globally. No one has come out and said, oh, the Satoshi Wallet got moved and he sold all his Bitcoin. And there hasn't been a double spend. I mean, in all honesty, if you take a look like behind the scenes of what's really going on, there's been so much good news that's happening. There's so much different developments and partnerships and even institutions really buying a ton of it. There was a great segment over on Alex Maschioli's show where he spent like five minutes just talking about all the different institutions that are dumping a ton of money into crypto. It's like, what's really going on? So this leads me to my next point about long-term thinking. And I'll get to the point about selling a bit because it's just something you have to consider. But this is kind of how I see things. Long term, just long term. If you've ever run a business, there's a statistic that said like, you know, businesses are unprofitable the first like five years because you have to really just get back your capital. It's an old type of statistic. It might not be true anymore. I'm not for sure. But it is, I mean, in my case, all the businesses that I've started, they haven't been profitable in the very beginning. You put a bunch of capital in, you get some revenue out, and over time, it becomes profitable. But you have to work at it. And there is no get rich quick things. So this is what I think is how a bunch of businesses saw things as far as Bitcoin and Bitcoin mining. So this was on July 17. It states the U.S. is the second biggest mining destination on the planet, accounting for nearly 70% of all the world's Bitcoin miners. Marathon Digital's Fred Thiel expects most new miners relocating North America to be powered by renewables. So that's good for the car salesman. He can finally get off his high horse and start accepting Bitcoin. There's two things I want to make mentioned. First of all, Thiel said this, 500,000 formerly Chinese minor rigs are looking for homes in the U.S., said Marathon Digital's Fred Thiel. If they are deployed, it would mean North America would have closer to 40% of global hash rate by the end of 2022. That is amazing. And here's what it comes down to as far as the mentality of the long-term investor. America's rising dominance is a case of luck and preparation, which is how all businesses work. A little bit of luck, a little bit of preparation. The harder you work, the more luck you get. The U.S. has quietly been building up its hosting capacity for years before Bitcoin miners actually started coming to America. Companies across the country made a gamble that eventually, if adequate infrastructure were in place, they would set up shop in the U.S. Really what's going to come down to this is that the gamble is paying off big time. When Bitcoin crashed in late 2017, remember those days? The wider market entered a multi-year crypto winner. There wasn't much demand for big Bitcoin farms. U.S. mining operators saw their opening, jumped to the chance to deploy cheap money to build up the ecosystem in the States. So when we talk about this as far as the mentality, the get rich quick person looks at this and goes, everything's drying up. I'm not going to make any money. I'm going to cut my losses and I'm out of here. And that's fine. You can do that. I'm not here to be anybody's dad and be like, you shouldn't do those things, whatever else. This is an investment opinion on investment advice. But the more that I look at the long-term investors, the ones that go, you know what, there's an opportunity here. We're not 100% sure if it's really going to work out. But what we're going to do is we're going to take a little bit of a gamble and we're going to put this money into the infrastructure because this was in 2018, mind you, when China had like a lockhold of the mining operations, they said, we think they're going to come over here. And when they do, it's going to be big. And it seems to have worked out pretty well. We did a video yesterday about Warren Buffett and he talks about the 20 punch card rule where he says, if you only got 20 opportunities to invest in something and it was just that punch card, you would think real hard for the thing that you actually invested into. And all the things that you are kind of like wishy-washy on, you wouldn't do it because you do a heck of a lot more research. And I think that's really what it comes down to as far as like these Get Rich Quick and these meme coins. People are looking at that now and they're like, man, I'm just going to get out because I shouldn't have done that. And that's good. You should have. You shouldn't have. And there's no money in that. And people will say, ah, what the community and da, da, da. It takes a lot more than just the community to make a project run. There is a business structure. There is difference. People that actually have to come in. There's actual, I mean, just infrastructure that has to be done and partnerships and things like that and in marketing. So I don't know what to tell you. But to finish this up, it states, your companies like North America Crypto Mining Operator Core Scientific kept building out hosting space all through the crypto winter. That takes vision so that they had the capacity to plug in new gear. And he states, a majority of the new equipment manufactured from May through December was shipped to the US and Canada. So again, this is the mentality to really take a look at as far as like the long term. When things are down, this isn't the opportunity. This isn't the time to go, poor is me and oh, I shouldn't have done this and no, it's just awful. Maybe it's time to take a look at what the big picture is and go from there. Now having said that, it's really time to buckle down and take a look at some five to 10% penalties and what I call the cash out. So what I'm talking about here is first of all, see this guy in the thumbnail? That should never be you. That should never be you. You shouldn't have your hands in your head because you over leveraged or you did something crazy, whatever else. Look, in 2017, like I talk about, like when I was, I dumped a lot of money into it. I was like, hmm, well, I'm not in the business of losing money. I don't see how this couldn't work out in the long run. So I'm just gonna keep the other cost averaging. I did that for four years, worked out pretty well. And I might tell you what to do again, do your own research. But that should never be you because even if you are depending on where you got in, it really comes down to, you know, what do you want to do from this point on? And there was, when I talk about the five to 10% penalty, this was actually a pretty good statement from Alex Becker. And he came out and he said, look, he said, I think the market is going to go down. And I'm looking all these different things. So I'm going to sell everything. And if it's, you know, if it goes the opposite way, let's say it pumps up 5% or 10%. Well, I sold everything. I'll probably just buy back and then just ride the wave up. I got to pay a penalty. And that's my five to 10% penalty. And I was like, man, it makes a lot of sense actually. Now there's one caveat there. And that is that you can't keep doing that forever. Because if you keep taking 10% penalties, eventually it's 100%. It doesn't really make a lot of sense. So for some people, if they're looking at this and they look at the RSI, they look at the MACD, they look at the Bollinger Bands, they look at the research, they look at the news, and they go, you know what? I think things are going to go down. Then this is where, again, I'm not a channel of pure hopium. This has to be your decision. This is not financial advice. I can tell you what I'm going to do later. But for you, if you decide, you know what, I think it's going to go, I think Bitcoin is going to go down to $15,000, $10,000, $6,000. Well, then if that's what you believe, because you've done all the research and everything else, then the decision is pretty much made for you. And you probably should sell. And then you should sit back and then buy back in at that $6,000 price point. I personally don't believe that's a good thing to do. I don't think it's going to go down to $6,000 or whatever craziness is out there. But if that's what you believe, that's what you believe. And as time goes on, I've just seen that the investors that just kind of like take their time and they just kind of hang around and they just don't even pay attention to the charts are the ones that usually make it out. But again, it's all up to you. You can keep taking those penalties and just sit back or you cannot. Here's what I'm doing. So when we talk about that, you have to remember that I've been doing these videos for a while and I call it the exit strategy. And I've talked about this ad nauseam before and I didn't really talk about it too much. But you have to understand for me, the reason why I'm not so bummed out and everything else, first of all, I dollar cost average a heck out of it. And the second one is I stuck to the plan. And the plan was to sell a little bit along the way and take your profits like my friend CJ over Mark Rebellion. Nobody, everyone broke taken profits. And that's pretty much what it is. And what did I do with it is I did this. Whoops, not this one. I did this. I deployed that into what I wanted to do, which was I put 10% I left it in cash 25% roughly, I didn't do like perfect, I'll always be honest with you, stable coins. 35% was property between land and housing and 10% went back to my Amazon and 50% I dumped into the crypto so I can actually stake it. And then of course, the other one was my IRA. And I did this because I'm like, I don't know what's going to happen. I'm not that smart. I got a diversify just a little bit and it worked out okay. Now, did I do this? I keep doing that wrong one. Did I do this perfectly? Well, for Ethereum, I did because $2,000, that was pretty easy. It was like, yeah, I'll stop 20% not a big deal because I didn't think it was going to, you know, I was like, I'll probably go to 10,000, but I want to take profits along the way. And then there was the chain link one. I didn't follow this to a T and I wish I would have, but I would have been totally sold out of chain link, but I did get to the $32 mark. I think it topped out at 55 bucks. And I've sold a lot. I've sold a lot of chain link and that's just what it is. And then for, let's see, for Bitcoin, you know, I think I, yeah, at 60,000 I sold a little bit, but it wasn't it wasn't that much. And again, I didn't stick to that 20% like I should have, should have, but I didn't, but I can't be myself over it. I can't be myself up over it because it's like, well, I did as best I could. Eos, I still got a little bit, but I got rid of that stuff. Cardano, $1.10, already 220. I did not hit the 220 even though it did go above it. I just held on because I thought it would go higher. That was my fault. So I stuck, I tried to stick to my plan as best as possible, but didn't really work out because I got greedy. And then Theta, I did sell a good amount of Theta because I was trying to stick to my strategy, but I didn't get, I didn't sell all the way that I like I should have, but I still hold. And that's really what it comes down to. So am I, did I sell at the top? No. Do I wish I would have sold the top? Sure. Is that ever going to happen? No. I mean, I got lucky with, I had Dogecoin laying around for my 2018 and right before that SNL thing, I sold it all because I'm like, there's no way it's going to buck. I both sold it 64 cents. That was like the closest I've ever gotten, but that's about it. And then I can see my portfolio as time goes on and there's some dips. I see, I see my portfolio just like you go down, go down, go down, go down. And I'm like, well, that's a bummer, but guess what? I believe it's going to go up. I took a little bit of profits over there. And what did I do? Well, I just showed you, I put it into different properties. I put it into stablecoins. I just stick it around. And that's why I think the next big thing I want to try to get to everybody is that if you got a plan, just stick to your plan. I remember when I was, when I was talking about the AgaStrategy, people were like, you're a moron because, you know, it's just going to go to the moon and everything else. Sure. And that's it. So look, that's it for today. It's a lot to digest, but I thought it was important because as time goes on in July and maybe even part of August, we're not going to have a great month. And I don't think it's going to be that good. So really, it comes down to what do you want to do. And I'm not here to say that I'm diamond hands going to hold forever, diamond hands. It's really up to you and what's best for you and your family. That's all I got. So look, thanks for sticking around. I appreciate it. If you liked the video, give it a thumbs up, give it a like. I appreciate that. Also consider subscribing. A lot of things we talk about on this channel are time sensitive. And again, we are going to do that price prediction. Who does a price prediction in a bear market, this guy, because I think people need a little bit of hope. And this is what I believe. And then we're going to have Guy. Well, actually, we're going to have Dave from Crazy for Cryptos. He's going to be on. This is at 7 p.m. Texas time. Dave's over in Thailand, so we got to do it at 7 because it's like 8 a.m. Guy did a prerecorded one because he's in the UK and it's like 2 a.m. and I'm not going to have him wake up at 2 in the morning. But he's already sent me the video. I've already looked at it. It's pretty interesting. It's pretty cool to see Guy like just do like an off the cuff type of thing straight and not have a reading from a teleprompter. That was pretty cool. And that's it. So thanks so much. I appreciate it. See you in the next one.