 Welcome to digital asset news take a top stories and cryptocurrency digital assets and break them down a bite-sized pieces today I just want to go over what's going on as far as the weekend and as far as some negative news some Neutral news and I think some positive news Just kind of give everybody a little bit of insight about what is going on thus far as it pertains to what we're looking at here as a increase in shorts also The impending what would be called a death cross which is where the 50-day moving average crosses Well, the 200 a moving average and everybody's all excited about that Not in a good way and then we'll just take a look at how these indicators are not always accurate and finally we're gonna finish up with a little Ted Cruz senator from the United States on Fox News talking about Crypto and what this all means and where I think things are going so we'll go over all those things But first, let's take a look at what's going on the market and before Anybody gives me a thumbs down just because I'm talking about Ted Cruz If you give me a thumbs down for this video give it because the video is just awful and you learned absolutely nothing Don't give it because you don't like Ted Cruz had nothing to do with it. Now. Let's just talk about crypto We're not here to talk about politics. We're just here to talk about the things that are going on in the crypto currency world So Like I said, it's June 12th. It's about 6 p.m. I'll pass with Texas time and we're looking at a little bit of a slump. What can I say? Bitcoin is down 4% as Predicted by the experts. We're looking at 35 6 Ethereum 2300 down actually up 0.9 percent. It's pretty good BNB up a little bit Cardano up 3.4 Percent, so we'll take it and then just a little bit of Well, she's not too bad 1.7.6 for Matic 3% for ICP 4% so, you know in all honesty We're looking pretty good except for rap Bitcoin, but that makes a lot of sense So that's what's happening on the market. The market cap is 1.57 trillion down from I think it's all-time high around 2.4 trillion So that is that is not so great, but you know when I take a look at these these numbers And people talk about this flipping all the time Hey, maybe this is the time when Things do get flipped as far as what's going on because it seems like everything that's happening What is having negatively to Bitcoin, which is quite odd. We'll get in that a second So let's just break into the news and the news right now This is a website by BT comm and it can tell you all the difference Bitcoin features market perpetual and also futures and everything else and this is what we got There was an increase in shorts That came up which mean people believe that Bitcoin is going to go down over the next days, weeks, months Whatever they are for whatever that time frame is and it breaks it all down by exchanges So in Binance as far as percentage wise goes There's a little bit more on the short side shorts over 24 hours long 24 hours By bit same thing FTX a little bit more on the other side and then Binance bit max pretty much The majority are a little bit more on the short side So that's what it says to me and what it says I think to a lot of people is that hey People don't have a lot of faith in Bitcoin. They all think it's gonna go down And it's a funny thing about the market It seems like when everybody thinks it's gonna go one way does the exact opposite. It's just just one of those things now Just a couple of weeks ago Remember we were supposed to have this huge tremendous drop and it didn't happen So right now we're on Saturday and we haven't really blopped too much in market cap per se But Bitcoin has gone down. Will that affect the alts? Well historically it does but you have to you have to wonder like What's the point because if everybody thinks is that everybody's talking Bitcoin Bitcoin Bitcoin? Maybe it's a Bitcoin's cross to bear speaking of crosses Let's take a look at this thing called a death cross and these don't happen too often Like I said, it's one of the 50-day moving average crossable the 200-day moving average I'm not a big TA guy guys over mark for a billionaire helping me But this is what it is a death cross occurs in the 50-day moving average crosses below the 200-day moving average if that happens Bitcoin can enter bear market territory similar to what happened in 2018 and If I let me blow this up Speculative reports suggest that Bitcoin could soon drop to 20,000 referencing the looming bearish cross the 15 200 Moving average blah blah blah. Okay, so this is what they're talking about here so last time this bear cross happened and you can see it right over here in 2017 the very end when we reached our all-time high over on 20,000 for Bitcoin good days. Happy days Everybody's was pretty ecstatic then and 2018 You just saw a big drop-off and of course that was because everything got too high and people said, you know what? We got a cool off and it's not sustainable and then you'll awfully go So once the price starts to drop then the moving average starts to drop and then you have the 50-day on the blue And then the red it says hey, you know what? the averages are Gonna catch up to you and once that crosses over it just really what it is. It's a lagging indicator and it just says People aren't buying. There's a lot more sellers and buyers. That's really what it comes down to But then when that once that happened you had a drop of 70 percent for a very prolonged time and that was The crypto-winter as you could see right here pretty long time then it also happened again around 2019 somewhere around about September October November December somewhere around there crossed again and it was 47% For a little bit of time not as long as long as 2018, but it did happen in 2020 Well, 2019 and 2019 in 2020 and then off we go until here. We are again making massive gains and We're right about to cross it yet again. So that is one of those things where we're like well That's not too great. So don't worry. I'll get to the good stuff. So that's what's happening This is the number you have to watch out for a resistance to seen around 40,000 which is cap short-term prices over the past week and That's really it $40,000 and here's what I'm gonna say about this all these things that we just talked about These liking indicators everything that that has been said right here. I can just say that It really is it becomes a self-fulfilling prophecy if everybody talks about it and says this is gonna happen this is gonna happen guess what it happens and these things that are going on it's just a like I said, it's a lagging indicator and What it means quite simply a lot of sellers out there who don't have a lot of faith in the market Why don't they have a lot of faith that astounds me myself because we've had Nothing but a ton of good news. I do not care about China. I do not care about them Moving Bitcoin miners me personally. I think that's a positive. I do not care about how they have been silencing influencers and You know to shine on these exchanges. That's China. It's only and it's this is gonna sound ridiculous when I said it say it It's only 1.6 billion. Why do I say that because that's the amount of people in China But guess what we've got five and a half billion left over so I just don't really see much of an issue I know that the government is talking about regulation. This is what we want to we want clarity I don't know what is the problem with people like we shouldn't have regulation We shouldn't it gives clarity, but everybody we know we're going businesses can get in this makes a lot of sense And of course everything else that's happening in the other countries even the great set of texts I live in that Governor Greg Abbott a pretty conservative fellow just comes out and says that he Signed a master plan that puts in the law for blockchain. So I'm like, this is all good news Where is this coming from? Manipulation whales people moving around people scared and that's just what it comes down to so let's talk about some On the flip side. So this is from investopedia and it's just you just do a search term What is death cross and this is gonna come up death cross the signal that short-term momentum in a stock or stock index is slowing But it is not always a reliable indicator that a bull market is about to end There have been many times when a death cross appeared such as in the summer of 2016 when it proved to prove to be a false indicator Those who got out of stocks during the summer of 2016 Missed the sizable stock market gains that followed through 2017 and of course Here's their example right here and they're gonna give you a prime example of Facebook. So here's a great example of again the 200 a The 50-day moving average 200 a moving average that they cross over here's a death cross and This is for Facebook in around 2018. Everybody's freaking out. They're like wow No a death cross and then the price Exploded all the way up here and then it kind of came down and then we kind of bounce around here And then there was another death cross and this one proves to be accurate so to me TA has its place and I believe in TA, but it's like my friend CJ says or microbiome TA works great and tell it doesn't and That's it. It is not a crystal ball. I can't tell you everything But it is one of those things where you're like, hey, you know what I really should be a little more careful about what's going on So that is essentially the whole death cross what's going on so then to finish this up Um Examples of a death cross to Facebook. Yeah, that's about it. Actually, no, that is the last part of it But I will say this Just to finish up here and that is that It could be true This death cross could be like The end all be all and we could enter another crypto winter that is Essentially what it is that is true. So the thing is is that you could get out on this show I cannot tell you what to do. I'm not a financial advisor. This is financial opinion not financial advice I can only tell you exactly what I am going to do and And what other people are gonna do though for you I'm not gonna sell anything because I just don't like to play the games of getting out and then you know watching it Maybe go down maybe trade sideways for a long time or heck even maybe go up I have no idea but I always think back to the original people who invested and remember when the people got into Bitcoin when it was 10 15 bucks and it went all the way to a thousand and You know, they're like, this is great and then a drop down to 120 bucks and they're like, I'm out of here This is ridiculous lost 90% of my value. This thing's junk. I'm gone. They just left now It took a little bit of time to get back to where they were But they did and if all those people just would have said, you know what I don't really care You know, I don't this isn't something that I have to have I didn't sell my house and My all my cars and my kidneys and my children to buy Bitcoin So if it goes down a little bit, I'm not gonna lose anything unless I sell into Fiat So I'm just gonna let it ride. So for me, I will probably not sell and it has nothing to do with diamond hands and that Religious type of thing that people will always say you have diamonds. You have diamonds. Look, I Don't really It's what's best for you. Your goals are not my goals Okay, so if you feel like I got to sell I'm on I'm in profits. It's best my family then go ahead and sell I will never call anybody paper hands again I think that's a very dumb Way to to say it because it just gets in people's heads like they got to hold on forever You don't have to hold on forever. So what if Bitcoin goes to a million and you sell and someone goes You got paper hands who's going to 2 million in 10 years. You're like cares. I got a million bucks So, I mean and then there's the argument about you know, everything's going to crypto. Sure. Alright, anyhow That's what I got and the other thing that I will say is that you know, some people will look at this and they'll say well Maybe I'll just get out right now. And if it if it goes all the way down, I'm protected Sure, you can do that or if it's actually just trade sideways and I'm out What does one Maddox trade in sideways or if he even goes up and starts a rally Then I'll skip back in and pay a 5% penalty. That's another option But again for me, it's not my it's not my thing. I have an exit strategy For most of my altcoins some of my Bitcoin. I'll be updating that very soon But this is just how I see things and and that is it. So let me entertain the comment section Let's move on to our our last piece. So our last piece here is just about good old Ted Cruz And if you're not from America, you probably don't know this guy. He's the US senator He's a Republican and it's a funny thing because the ex-president United States Trump came out again Do not give me a thumbs down because you don't like Trump. This is not with Trump. It's not a political channel I'm just referencing it as a crypto. So With Trump he came out and said that he believes that Bitcoin is a scam and he doesn't trust it But he did say he thinks it is a competition for the US dollar as it is a currency. I'm like, hey, great. Call it a currency Thanks, man. And that's it. So on there's that side and he's a Republican and then Cruz comes out here And he's talking to Sean Hannity and the Sean Hannity whatever show he's on he's on Fox or something and First they started to talk about, you know, Elizabeth Warren who's already who's a Democrat and already has talked negatively about cryptocurrency again Thumbs down. I don't care about Elizabeth Warren and her politics. I don't care any politics. I think it's all ridiculous She came out and just bash cryptocurrencies and and said some pretty false things. She has no idea. She has no way She has some idea. She's not She's not that dumb, but she just said a lot of a lot of fallacies But it's amazing how she will come out and say that and then the other's political side will say, you know what? I'll make sure knows what she's talking about and I think cryptocurrency is a fantastic great I don't care what your politics are. If you're talking positively about cryptocurrency, I want to talk to you So this is what happened after they started to bash everything on Channity show the conversation turned to crypto and Sean Hannity says, okay, you've been hearing about it Bitcoin cryptocurrency. What is it? Why is it so big? What's Bitcoin? What's blockchain? What's doggie coin? First of all Any people who have no idea what? Crypto is just go here Dan teaches crypto.com 100% free. I made it 100% free It will all be 100 always be 100% free. That's because I don't want anybody to pay for anything I want just to learn understand and then go out of the crypto world and understand what you're actually investing into So that's why I made it free. I don't want anybody to pay for anything so send those people there that way and So Sean Hannity or Ted Cruz says I think part of the reason we're seeing people go to Bitcoin is because we're in the verge of an inflation crisis True inflation crisis true and Joe Biden has proposed seven trillion dollars in new spending I don't know the exact number, but it is trillions. So true We're seeing inflation which we're seeing lumber go up homes going up oil going up gasoline going up energy going up Commodities go up and I think people are going to Bitcoin as a hedge against that and I think there is that part You know as far as inflation, but there's also a supply chain breakdown as well So that will also contribute to these rising prices That's not the whole point the point is he's correct because we are gonna see some inflation There is no way you can print that much money You can print 30% of the entire amount of fiat cash or US dollar in the last year or year and a half and not have inflation I think that's incredibly Impossible, but I could be wrong because I am not an economist But it doesn't make any sense to me to just keep adding money into it So I think this is a positive part and hopefully you know the thing that President Trump ex-president Trump said about crypto was saying that it's it's false and it's a scam Then the other part other side of the party will say also Republicans. Hey, it's actually pretty good You should look into it. Just be careful and that's it great I like to hear that so these are the positive things that I like to hear about and even Sean handy at one point He changes or he was gonna change his Twitter profile with the laser eyes pretty funny And that's it for for those pieces. So let me know what you think about that in the comment section Is that a good thing to actually offset? Senator Warren for whatever she said goofiness and then Ted Cruz who was also goofy That said something positive. So that's it. So let me just think of the comment section and lastly I just want to make mention of Digital asset news the channel is only for news and the basics So I shake create another channel for Dan called Dan Clips It's the advancements in cryptocurrency and we talk about new projects and this one we went over Card starter for the Cardano network. It's a launchpad. It's very interesting how they're doing things It's it's an insured launch pad So these they they vet out these new Cardano projects that are being built on Cardano because as we know Smart contracts are coming in August and looks like they're on time. So I'm pretty happy So it was me a man has show she and then we had Brandon and Owen from card starter and it was a long Good interview so you can check it out. Check it out over at Dan Clips and I Just got to tell you just as a spoiler All's I'm gonna do when I invest into more Cardano projects I'm just gonna let card starter do the vetting process and let them launch it and I'm gonna invest into those and that's That's really it. So watch the whole thing on top of that. Just you know a man hash Whoo, look at that hash has got 1.5 million in his new Cardano stake pool. So if you want to check that out, I will link that in the description below D news also has a stake pool as well And we've got a nice handy dandy video down here Which explains exactly how to do it and we're running the industry average which is four to six percent return on Ada and very simple That your cardano never leaves your wallet. There's no slashing nothing crazed like that And we show you how to do it on deadless Yoroi and Ada light and you can also substitute that for hash show She's a stake pool as well. So either one if you want to either one this fine or both a great That's great. And that is it for today. So Good luck on the weekend. Let's see what happens tomorrow death cross might happen then or Monday I don't know somewhere on there and we'll see how things go If you liked the video give it a thumbs up also consider subscribing everything we talked about on this channel is time sensitive So that's it appreciate it. Enjoy your weekend. See you on the next one