 Welcome to Jalassa News. Take a top stories in crypto and break it down into bite-sized pieces. Today, just as a thumbnail suggests, you are going to be tested. And if getting rich was easy, everybody would be. So we're going to take a look at what is going on in the market and what I call second to last. We're going to take a look at all the longs that were liquidated. We're going to talk about how Bitcoin is dead. And we're going to take a look at potentially a brighter outlook. So before we get started, let's take a look at exactly what is going on in the market. And it is not pretty, I must admit. I mean, we've got the market cap of 2.5 trillion seemed to have misplaced about a half a trillion dollars somewhere. I don't know where I put that 500 billion, maybe under the couch. I have no idea. But here we are. But what's interesting though is that the daily sentiment for Bitcoin is actually pretty neutral. I mean, it's like, we all know where this is going. So we're like, let's just get on with it because it's not a big deal. But it is a big deal to some people. I'll talk about in a second. So Bitcoin price is 5777, everything's down. I don't think we need to go over that. I don't want to pour more salt into the wound. So let's just break into it and talk about what the heck is going on. When I say second to last, it's because you're going to hear a lot of things today. You're going to hear a lot of things, different YouTube channels. You're going to hear stuff about, hey, you know, there's these bouncing off and these different levels. Hey, there's, you know, we're talking about the white cough accumulation. This could be one of those things where there's massive manipulation. We can take a look at different things that are going on as far as like on-chain analysis, which we will do, but just so you know, in all the long run and what is going on in all honesty, it's not a big deal. It's not really that big of a deal right now for me. I'm going to tell you why it's not. And this is going to sound, take it as you will, but I will just say this, it's not as a big of a deal because I've already been here. And if you're watching this, this video right now and you've found my channel, this is the first two, sorry, this is not the greatest day for you, especially if you're going from the additional market space. But if not, you've been here for a while, you know, this is just a Thursday in all honesty. And when I've been talking about this beforehand, where I was talking about taking small profits, dollar cost averaging in, dollar cost averaging out, taking small profits along the way, I meant it. That's why when you see me, when I'm talking in these videos, I'm not freaking out because it's not that big of a thing. First of all, know where we're going. Second of all, I have profits on the sideline to where I can do the things that I really want to do. And this is the important thing. So when we talk about this and you're like, well, Rob, you should have just held on for the whole time and really take taking it all the way at the top. There is no top. That's the thing. If Bitcoin even goes to a million and let's say you have a whole Bitcoin and you sell it at a million, people will still be like, you're a moron because it's going to 2 million. It doesn't matter. It's all about what your goals are. My goals are not your goals. So when I talk about these things that I'm doing, these are just the things that work out for me. So when we take a look at the market itself, yes, we can see that quite a bit of a precipitous dip, as we can say. I mean, look at this. This is over the four-hour timeframe. And we've taken quite the plunge. Look at that candle. Ouchy, 56.8. And we have been knocking on the door of 60K for quite some time, somewhere around here. It was kind of like that floor. But every time you hit that support level, eventually it will break down. And it did. It's broken down and then here we are. However, I will say this, take a look at the actual RSI. We can see that, hey, you know what? As far as the relative strength index, we are oversold. We are now in oversold territory. Actually, it didn't twice as it was going down. We hit it again. So right now, the Bitcoin and the entire crypto market is pretty much being sold off because people are panicking. I don't know why, but whatever. So that's exactly where we are. And now some people will say, Rob, wipe off accumulation. There's things going on behind the scenes. Yeah, sure. Why not? Of course, there's people. As long as greed exists, people will sell off like crazy. And it doesn't matter the micro strategies and the gray scales that are out there that are just the diamond of diamondist hands. It doesn't matter. At some point, people will sell off and they'll do this and they'll be cycles. And that's it. So you just have to just accept those things and be like, well, it is what it is. And because I've been around the block, not a big deal. So we can say that, yes, there's probably some accumulation. There's probably some whale games and going on, but sure, that's what we get. However, let's take a look at just some things that I find interesting as far as like on chain analysis. And if you missed the video from yesterday, it was me and Kee Young-Joo from the CEO over at CryptoQuant. And we just talked about the five different on chain analysis technicals you should take a look at. And this is one of them. It's called Bitcoin All Exchanges Estimated Leverage Ratio. And we go above the mark of 2.0. It is beyond high. And I can just tell you right now, as we just creep up here where time has gone on, people got greedy. And when people get greedy, you get slaughtered. What's the term pigs get slaughtered? Something gets something. I don't forget. Tell me in the comment section, but it just means that if you're greedy, you're going to get stuck. And that's exactly what happened. Once we see here as this leverage ratio has been rapidly ascending, 0.19 was pretty high. And then we hit 0.2. And when me and Kee were talking about it, we're like, that is ridiculously high. And what does that mean? Well, what that means then is that you're going to have a bunch of this. This is where this is this is not going called coin glass, not buy, but I got to make sure I say that correctly. But this is all the liquidated the all the liquidations and everything I got liquidated were longs. They were longs because people were like, I know where Bitcoin's going. I know what the market is. I'm a genius. You may be. But in all honesty, when you start to do leverage trades and you go super long and you're way outside your realm of scope of intelligence, I know my limits. And I'm not doing going down these roads, but you see people get long. And that's where you're going to hear about people getting caught short and they lost a lot of money. Now, I mean, kudos to you for trying it out. I'm not telling you not to do it. I'm just telling you, I don't do it. And this is what happens because when you go when you have so many people going long, all the smart money, reasonably smart, halfway intelligent, I guess people will look and say, wow, there's a lot of people going long. I should just go short. I should go short and make a killing. And that's exactly what happened. So we have on top of that, we also take a look at what's going on the last 12 hours. So long got liquidated. And then the shorts are like, I can do that. I can keep doing that. And now we're going to see even more shorts come up. Now let's take a look. This is 12 hours, take a look at 24 hours, still a lot more. But as time goes on and things start getting liquidated, four hours, 30 minutes. Now you see the tide change just a little bit and people are like, you know what, I don't know, maybe I will or I won't, but you'll see that the shorts are actually coming up even more so. So when you see again, where there's just a massive amount going one way, the other side, all the other side has to say is, hmm, a lot of shorts going on. Maybe I should go long. And that leads me to one of my next topics, which is Bitcoin is dead. Bitcoin is dead. I'm sorry to tell you. Pack up your bags, go home, cry boohoo. And there's this great website called 99Bitcoins. And this is what you have to remember right now. Of course, Bitcoin's not dead, just being ceasious. But if you take a look here, this is funny. Even when Bitcoin, let me blow this up so you can see it a little better, even when Bitcoin was topping out at all time high, which was around $68,000, $69,000, you had people saying like the spectator, a spectator. It's really, probably why he's not making any money. It's just speculating. So speculator would be probably good. $67,000, $68,000 right around here, $67,000. They're like, no, it's a delusion. It's a delusion and never go through. That's just a month ago. If we just back up over six months, this is all the time that Bitcoin has been called dead. Dead, dead, dead, dead, dead, dead. And then of course, this is, I mean, look at this. It was dead at $29,000. It was dead at $32,000. Now let's take a look at a year. It's always dead. It's always dying. All the naysayers are saying the same thing, as far as like, not just Bitcoin, but the crypto market in general. Now if we even zoom up even farther, and this is what we really have to do at all times, look at all of these deaths. It's over, I want to say it's over 400 times that the lame stream media has called out and said Bitcoin is dead. Wow. It's 40 times 2021. It's pretty good. 2017, 124. It's not amazing, 2017, when we had that huge bullhorn last time. That was the most times it was called dead because of the parabola bullhorn. Look, don't get mad at me because you invested Bitcoin. That's just really what it comes down to. So if we take a look here and we think to ourselves, man, if everybody seems to get it right, then why does the price keep going up? Now there's volatility to be sure, but that is essentially where we're at. And I think it comes out of this. If you take a look and see about what's going on, there's a bright outlook. I think there's a bright outlook. Take a look at this. I did this poll about 10 minutes ago. Well, no, excuse me about two hours ago. And I just asked the question. I go, look, it's January 1st, 2022, and the crypto market has been around $3 trillion with most crypto trading sideways. I'm just saying if that happens, what do you do? And I thought there'd be a lot more people going, I'm going to sell. This is over a thousand people have already voted. They go, no, I'm just going to either buy more. I'm going to keep hodling. So for all the institutions and the big players and the whales out there trying to play these games and to drop everything, I mean, it's going to work for some people. It is. People are going to sell. They get scared because they're just new to it. That's okay. But as time goes on, you got to realize that if we just kind of zoom out and see where things really are going, it's usually in an upward momentum. And this is why I say it's a dollar cost average in and then take a little profits on the way. So you don't freak out when days like this happen and you have dry powder on the sides and you can do whatever you want with it. And that could be even buying these dips and things like that. But again, my goals aren't your goals. And this is not investment advice, just investment opinion. So I think that's a pretty good, good play as far as where things are going. And I think a lot of people who've been here for a while understand that it's okay. And it's going to be all right. Now on top of that, I want to talk real quick about some more good news. And you know, I'm big in the metaverse now. I'm trying to be trying to understand it. I try to reach out to people way smarter than me, which isn't hard, by the way. A lot of people are smarter than me. But I signed up for email notifications from Decentraland. And I got this nice email that, so check this out. In Decentraland right now, the artist known as Banksy is selling one of his paintings. And that is going to be through SouthBees. And you can pick that up as far as paying for an Ethereum. Imagine. And it looks, I don't know if this will come up. Yeah, let me read. So yeah, when I click on that link in the email, it drops me right at the place of SouthBees, so I can bid on Banksy painting. So when we talk about like where things are going in the future, I think it's just good news because like, when I talked about purchasing virtual land, people were like, a lot of people are like, oh, okay, it makes sense. But some people are like, I don't get it, which is okay. It's very difficult to understand, especially when we, when we first started to realize about Bitcoin, like that doesn't make any sense. Now we're like, oh, it makes total sense. Same thing with virtual land and Decentraland and Sandbox and all those different places. But so like here, guess what? These guys, SouthBees, they paid a pretty nice price for this virtual land to sell to globally everybody who wants to come in here, not just have one location in SouthBees, but you can go in there and you can look at it, and it makes a lot of sense to me. So on top of that, there's also another piece in this email that said, hey, guess what? Barbados opens the first virtual embassy in Decentraland. Last Sunday, the Barbadian ministry signed an agreement with Decentraland to establish the world's very first digital embassy, and it sets a precedent for world governments. So right now, I know people are like, this market, what the heck? You got to remember, it's just one day, it's just one hour. If we just zoom out and take a look at the future, the future is pretty bright, I think. And then lastly, I will talk real quickly about this, even India, which has been kind of wishy-washy on crypto at one point, the world, not the world bank, the high court in India tried to ban cryptocurrency, it went back and forth. And now you've got India's prime minister, Narendra Modi, I think I said that right, continues to collaborate on Bitcoin and cryptocurrency. And just real quick, I'll just say, prime minister of India urged democratic countries to work together to ensure that crypto doesn't fall into the wrong hands, meaning he wants to get a little bit around it and actually support it. That's how I read it. Meanwhile, the Modi government is working on a regulatory framework for cryptocurrency in India, which is good, because they're not like, we're going to ban it. They're like, no, no, we want to get some kind of framework a little bit around it. And that's fine. Look, can't win them all. So lastly, this was the most telling, the prime minister under Australia and India's partners in the Indo-Pacific region and beyond to invest together in future tech to deepen intelligence and operational cooperation and develop common standards and data and blah, blah, blah. So look, a lot of good things on the horizon. It just, when you look at the price in one day, it just sucks some days. And this is one of those sucky days. But again, getting rich was easy. Everybody would do it. And that's it. So look, if it made it all the way to the end, I hope we feel a little bit better about what's going on today. Not a big deal. If you don't like the price, just wait a little change. But if you like today's video, got a little value, consider giving it a little thumbs up, a little like, consider subscribing. That's it for today. So thanks so much for watching. I appreciate it. See you on the next one.