 Welcome to Digital Asset News at Ketop Stories and Crypto and we're gonna have a bite-sized piece. Today we need to talk about the impending Bitcoin death cross. You're going to hear a lot about that and what I want to do is I want to take you down a little history lane to see what the death cross has done from 2013, 2017, 2018, 2019, and what it means for potentially going in the future. I also want to take a look at a very odd story that JP Morgan is now all of a sudden positive on crypto. Then we'll take a look at what whales are doing as they take us to school and show us how things should be done. So we'll take a look at all those things but first let's take a look what's going on into the market. So today it is the 10th of January and we are keep going down as far as the market cap. I know it's painful but hey that is what it is. 1.87 trillion as far as the market cap all the way down from over three trillion dollars for a market cap. So if you had taken profits along the way congratulations probably doing pretty good. Probably can scoop up some pretty good deals right now but that is where we're at. If we take a look at just what's going on as far as like the actual cryptocurrencies, digital assets. We've got Bitcoin over seven days down 15 percent, Ethereum down 22 percent, Binance going 22 percent down, Solana 24 percent and in the last 24 hours it's not looking any better especially as we've opened up except for near protocol near up four percent but they had a monstrous run so congratulations anybody who's holding near. But really I want to take a look at first before we get into this death cross is what's going on with the traditional markets because unfortunately we are now attached to the hip because there are so many different institutional players in and what I want to take a look at is the market that just opened because right now it's around 1030 Atlantic time which is 935 or 930 roughly Eastern center time so the markets started trading and over just the last five days we see the S&P 500 go down and then of course on Wednesday when those minutes were released from the Federal Reserve where they said hey we're going to cut back on the bonds we're going actually going to increase rates all of a sudden traditional players like this is awful and they started selling off and you come over here another sell off and then on Friday it had kind of evened out everything was looking pretty good but then this morning we're down again so I was like well that's a bummer however when in doubt zoom out and this also applies to the traditional market so take a look at the one month okay well over here we had a pretty big decline in December and now here we are by the same thing let's take a look at six months how are we doing hey not too bad as far as six months and then what about over the year that's pretty good let's be honest I mean yes it has been down because of this awful thing about the Fed raising rates by three-quarters of a point woo and and then if we take a look at five years it's even more ridiculous so again when in doubt zoom out but that leads us to our very first point really which is the death cross and I wanted to bring this to everybody's attention because you're going to hear it from everybody everybody's going to be talking about today and how awful it is and it's going to just the worst let's really just break it down and see what it's all about so this is a great article from coin desk bitcoin approaches death crosses goldman sacks for sees four fed rates hike this year we'll see if that's true but they it's all about the history and remember as the 200-day moving average or as the 50-day moving average goes underneath a 200-day moving average that is considered the death cross the end all be all it's going to be awful very slick name to really inspire fear but is it fearful let's take a look so the 50-day moving average we know what it is goldman sacks for sees the fed raising borrowing costs at least four times versus the previous prediction of three rate hikes fridays us labor market report and this is what kicked everything off because the feds like well we need to take take a look at some indicators to why we could actually raise it and of course the market report showed that unemployment rate dipped to 3.9 percent so they're like oh well the economy is doing better so let's just raise the rate so we can you know make it go down because we got to we got to get all this money back because we printed up the wazoo which is true they did it's called quantitative easing and it's uh what has really helped the the case for bitcoin anyhow this is strengthening case for the fed to hate to hike rates concurrently within the end of the asset purchases in march many of bitcoin's previous death crosses including those seen in 2014 and 2018 this was the bad one coincided with either a sell-off in the days that followed or a continued macro downtrend that confirmed a bear market now if you had watched the video it was me uh ben and james ben from in the crypt of verse james from best answers we did our dca show on friday we had taken a look at different factors and we all said the same thing we're in a bear market already the question is is this bearish market is it going to be for a short term or is it going to be for a long term and i know people like it's not a bear market it's not a bear market okay well it is what it is the big question is we had talked about this is this crypto winter where we're going for years or is it for a short amount of time one to three months up to six where we either go sideways or downward trend take a look at the video but i can just tell you we do not think it's a crypto winter and like james says crypto crypto seasons which is pretty good but so what we have here that first part in 2021 and 2020 was a pretty pretty bearish type of framework after the death cross but is it always like that no the market is often oversold and due for a balance by the time the crossover has confirmed as was the case in june last year and march of 2020 so again it can do the exact opposite it could actually confirm everything and say well everything's oversold we're actually going down i mean really as far as like what's going on in the market has anything really particularly changed uh has has bitcoin been hacked has someone come on some stoshinakamoto has everything just gone to zero no and so nothing really has changed and there's so many things that are actually oversold uh like we talked about in a couple days ago ethereum is now the most oversold in almost two years according to this rsi indicator and we had talked about that it's there is so much sell-off going on because people are so scared and that's fine uh that's exactly what you uh you is your are your options to do if you see it so fit but you have to take a look again at the big picture and see where things are going i'm not telling you to not sell i'm not telling you not to buy uh because people will say well the diamond has something like that i'm not a big believer in the diamond hand theory i think that you should get in during the dips and you should dollar cost average in and you should dollar cost average out as time goes on because when they have these massive dips like right now i'm sure if you were diamond handing forever you might have wanted to i don't know had like two percent five percent ten percent on the sidelines to buy something like this would have been nice right that's the whole point of uh dollar cost averaging in and out not financial advice just financial opinion so if we take a look at the big picture let's take a look at what jp morgan one of the biggest haters for crypto uh has to say and before i go over the story let me take you down a trip down memory lane when we take a look at good old jayme diamond and what he had to say as far as crypto so jayme diamond in 2015 said virtual currency will be stopped and then on uh looks like september 2017 jayme diamond see jp morgan ceo says bitcoin is a fraud that will eventually blow up and then if we get down to 2018 he says he regrets calling bitcoin a fraud and believes in the technology behind it and then in 2020 he says uh that bitcoin is not my cup of tea even as jp morgan is warm to crypto and then uh february 25th 2021 he says investors jp morgan's investors could make bitcoin one percent of our portfolios and then of course in april 2021 jp morgan now are going to actively offer managed bitcoin fund states a report so it's an interesting story uh how it actually develops over time and i see this happening again and again again people who are big haters on crypto and digital assets especially bitcoin now all of a sudden become converts it's amazing to me now to be fair jp morgan or jayme diamond still isn't a big believer he's still on the fence about it doesn't think there's any intrinsic value however his entire company is like we should probably get into it so here's what they have said ah they jp morgan published a report on the 2022 outlook for crypto markets friday and one of the analysts states the applications from crypto have only just begun web 3.0 uh and greater use of nft's tokenization are in the line of sight for 2022 the tokenization and fractionalization is holding particularly large promises of transaction speeds in crypto become more competitive with traditional tradfi network traditional finance they state that defi was a bit of a flop in 2021 debatable there is a lot of locked up value but it still has strong potential in 2022 i think we both agree on that and in the development of crypto technology will continue driven by the scaling of layer one and the growth of layer two ethereum's merge and layer 2.0 introduction will speed out transactions and could significantly cut out energy consumption to finish us up the use case for crypto markets will continue and new projects and tokens with more in different use cases will surface and i think this was the big one for me if 2021 was the year of nft's then 2022 would be the year of the blockchain bridge which means driving greater interoperability of various change or the year of financial tokenization and they see the cryptocurrencies going to be increasing relevance of financial services so when they talk about this blockchain bridge i can't stress this enough because i was around when cell phones first came out i remember having this big huge block cell phone that was in my car so remember if you're old and i remember how like there was different fractionalizations of people offering these services and it was ridiculous to think about now if you had like if you were an AT&T subscriber you could only contact AT&T if you're on Verizon you can only contact Verizon subscribers if you were T-Mobile same thing it sounds ridiculous too it doesn't right now well that's the same thing we're doing right now if you have ethereum well you can only use that on the ethereum chain if you only have salana on the salon chain now there's some interoperability going on and forth between a little bit but not the vast majority so any kind of like new telephone network usually integrates with all the other big ones because it only makes sense so when they talk about interoperability cutting costs and layer two solutions i totally agree so all these l ones near protocol ethereum cardano avalanche salana all these ones i think at some point they're all just going to be able to work together and it's going to be a big thing that's taking a look back and zooming out and take a look at the big picture which leads me to my last point when we talk about whales and they're taking us to school on this channel we talk a lot about dollar cost averaging in and dollar cost averaging out i know this is a scary time especially if you bought near the top i did the same thing in 2017 and uh for 2018 and 19 well i still do it just i just dollar cost average in dollar cost average out when i made some profits and that was pretty much it that's my whole strategy worked out pretty well so when we take a look at this tweet which i found kind of interesting this is from into the block and they say whales are accumulating as bitcoin dropped below $50,000 addresses with over a thousand bitcoin proceeded to increase their holdings these addresses tend to lower their holdings following large rallies and patiently wait to buy at lower levels again they dollar cost average in when things go down they buy the dip and they dollar cost average out or take profits along the way let me blow up this image so you can see what i'm talking about in blue is the volume and addresses with greater than a thousand bitcoin and you can see that as the price starts to go up they start to dump and that happens that happened in march and april when it was an all-time high then all of a sudden it it goes up because they start to accumulate bitcoin as the price goes down because they're buying the dip then they just hit hit it up for sideways then they sell a little bit as it starts to go up then it goes sideways again and then when it goes high guess what they do they sell or they layer out and then as it goes down what do they do they buy again it's just a repeating cycle and i can talk about it till i'm blue in the face but look it's a very simple thing and people make it so complex but it doesn't have to be dollar cost average in do your thing dollar cost average out you can diamond hats if you want to that's all up to you i personally i'd like to take a little profits along the way and that's really it and the last thing i will just say just a follow-up on yesterday's video we're going to do a Puerto Rico meet-up on tuesday we've already got the place lined up and i'm going to go over there and check it out today and i'll let everybody know where it's at so you can just show up again very informal place just to talk crypto it's not going to be fancy that's just what it is now that's it for today so look if you like today's video you found a little bit of value now give it a thumbs up i'll consider subscribing a lot of things we talk about on this channel are time sensitive and that's it so thanks so much for watching i appreciate it and i'll see you on the next one