 In the last couple days, we've seen red on red on red within the crypto market. And in this video, I will explain why I paused my day trading challenge. First of all, I want to thank my patrons that joined within the last week. I love the conversations and I love the feedback that you guys give me. I already posted my initial thoughts on the crypto correction on Sunday while I was in Antigua. So if you want to get immediate updates on my financial moves, make sure to join my Patreon. All right, let's get to it. So Bitcoin had a very drastic correction from $57,000 all the way down to $42,000 within a week. To be honest, it wasn't a big surprise to me because I thought we were overdue for a correction anyways. What shocked me, though, was the outrage and fear that people spread on Twitter. So Elon Musk recently tweeted that Tesla is not accepting Bitcoin anymore as a payment option due to the rapidly increasing use of fossil fuels for Bitcoin mining. This tweet helped Bitcoin drop to $46,000, which in my opinion was a great price for me to buy more. But when I looked at the outrage from Bitcoin enthusiasts attacking Elon for saying that Bitcoin is not the best, I was like, let's just wait a little longer. So I don't want to give every single tweet that I found a platform in this video, but I want to show you one that shocked me a little bit. One Twitter user said the following. Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their Bitcoin holdings. With the amount of hate Elon Musk is getting, I wouldn't blame him. And Elon Musk replied, indeed. Well, to me personally, that sounds like an indirect threat because if Tesla sold all of their Bitcoin holdings, that would inevitably drop the Bitcoin price by a lot. Now, here are my thoughts on this entire situation. Besides the fact that Bitcoin was overdue for a correction, I truly believe and know I am not a financial advisor. And this is my humble opinion on a matter that I'm passionate about. This video is not financial advice. This video is for entertainment purposes only. Thank you, Sean. So Tesla bought one point five billion dollars worth of Bitcoin about three months ago, or at least they announced it three months ago. And here's my thought process. So Elon Musk and his entire team at Tesla are highly intelligent, highly educated people that create products most of us love and are excited about. I am 100 percent certain that their entire team had an intellectual conversation about buying Bitcoin before they made a massive purchase like that. Tesla is a very futuristic thinking company. So for me personally, it makes sense that they look at Bitcoin and see, OK, this might be the future. We believe in that. And that's why we invest one point five billion dollars. Now, with that being said, I could be completely wrong. It could also be that Elon Musk is a genius and he just knows his social media power, his influence on people. And he just said, you know what, let's buy one point five billion dollars worth of Bitcoin. I'll announce it on Twitter. The price will five X and then we sell it. Also an option. Who knows? And today we got another news. China bans cryptocurrency once again. Now, if you just read the headline, you're like, oh, my God, that must be bad because China bans cryptocurrency. If you look closely, though, China only bans banks and payment firms from crypto business, but individuals are still allowed to hold cryptocurrency. So why am I not day trading in this highly volatile and exciting market? Because I am not a wizard. I could read the chart perfectly, which I probably won't. But then a highly influential person like Elon Musk could tweet something like Bitcoin is trash. I sold it all. Tesla sold all Bitcoin. And then I lost $20,000 in that one specific trade. Therefore, I'm not trading right now. So I'll just be patient and wait for the market to relax a little bit. One more important thing. I received a comment on my latest video saying proof or it didn't happen, I guess, and you're 100% correct. Like I have to show you my portfolio. Otherwise I could say, oh yeah, I made a million dollars. So here's a screenshot of my Binance holdings as of today. I will definitely give you guys an update as soon as I resume trading and I will probably give you a video update as soon as I hit $50,000. Until then, I'll see you daily on my Patreon. Thank you so much for watching, guys. If you enjoyed this video, please help me out with the YouTube algorithm. You know how it goes. Feed the algorithm with a comment, like and a subscribe. Thank you so much for watching. I'll see you next time.