 Welcome to Digital Asset News to get top stories in cryptocurrency and digital assets and break them down to bite-sized pieces. So today it is one of those days that is the usual for the cryptocurrency and digital asset market where Bitcoin has taken a little bit of a correction of $10,000 over 24 hours. So the real question is why did this happen? Was it because of a tweet from Elon Musk? Was it a massive outflow from F2 pool and mining pool base in China? Or was it because of the reopening of the Chinese markets? We're going to take a look at all three scenarios and I'm going to tell you why it really doesn't matter and actually this is great news for dollar cost averages. On top of that we'll take a look at the old school entrepreneur.com where they talked about JP Morgan said that Bitcoin would never go above 40,000 and we leave that in the dust. We'll also take a look at what is going on with crypto.com or their coin as it jumps up over 100% less than 24 hours because of a token burn and finally the CEO of Ledger comes out and has a AMA which is going to be scheduled for this Friday and I've always said it doesn't matter what happened as far as a scandal or a breach, it is all how you handle it. So we'll take a look at all that but let's take a look at what's going on in the market right now which is today. So we're looking at today is February 22nd 10 a.m. El Paso, Texas time not a bad day so far I mean as far as otherwise that's so great for the market if you're new to the market and you've come over from the traditional space welcome congratulations what a great day to start on your journey of cryptocurrency but just know that these days are common and it's not a big deal and actually if you look at it in the right way when you take a look at these huge dips you can just take a step back go you know what these are great sales when you go into any kind of store any kind of it doesn't matter if it's it is a clothing store electronic store whatever else when you see something 10% off 20% off what do you usually do usually want to buy it it's amazing to me how people just look at these different types of things as far as the market goes ago oh my god it's 20% I got to get rid of it instead of looking and going wow what a flash sale I used to have that same mentality just as years has hardened me into this market it just is like another great day to pick up some really cheap cryptocurrency digital assets because I know where they're going and it is not they're not going south they will always rebound and you know what goes up must come down but these are the days that you live for as far as a investor so Bitcoin right now is at 53,000 it looks like it dropped 7% hey not too bad Ethereum dropped over 10% though wow 1727 and um we did a video yesterday and I talked about how I was concerned about the market it was very difficult for me to sell you can I'll link this at the very end and I sold some of my Ethereum at $2,000 now does this make me no strudamus and I can predict everything no I just got lucky that's really what it comes down to uh I'm just an investor I'm not a trader I do a little bit trading but it's like five percent three to five percent of my portfolio I don't like to trade that much it doesn't really work out for me but but it is fun and I'm learning from the guys over there at Market Rebellion also from Trade the Chain so when I do these things I and people you know after that video like you're an idiot you got to stop selling because it's only going to go to the moon well here we are so you just have to remember that just pick your price points and whatever your goals are whatever you're comfortable with because my goals are not your goals just take a look at the market as you know just opportunities abound and this is one of those days uh Binance coin number three it had a massive run but it's even that retrace 13% have this tell you nobody cares poke a dot fill out $35 but it's down everything's down let's just be honest except for XRP congratulations XRP this is your day right everything's down you guys are up six percent congratulations that's amazing and then everything else is pretty much you know just going down down down but there is one crypto.com is up 60% in a 24-hour time frame what's going on actually is it 60% yeah 24-hour time and in the last hour it went down a little bit but we're going to talk about why it is going up so much and it totally makes sense I don't really know why they did this huge burn but we'll go over that in a bit so it looks pretty good let's just do like the one-hour projector range and so I would like to do this to see what could potentially goes up LA token no idea what that is but apparently it could go up 26% or with 90% assurance it's going to go up 6.85% and this is from you know trade the chain because they do all the different sentiment analysis you trust bitcoin gold I wouldn't touch that but okay engine coin that's a good one I used to actually have engine coin pretty good for NFTs and gameplay and stuff like that tomo chain bit torn oh my friend George is going to love this 8% up potentially so and then crypto.com you never know where that's going to go so that's what's going on on this side let's just delve into what is really going on as far as the market so this was just a screen capture I had over there coin get go and just it just shows you the you know the veracity or just how amazing these things can dip and we we saw a pretty big dip right here 58 307 down to 49 116 so not 10,000 exactly but pretty darn close again if you're the market just get used to this 10% isn't a big deal 20% 30% all right now we're talking 40% I'm listening and then on and on you go so this is not the traditional market space some people you know in traditional market they're like hey we went up 10% or whatever I'm like that that's a Tuesday for us who cares so this is just a different different space and no need to worry about it because it's volatile and 10% swings not a big deal 20% we'll probably see a retracement we're already up back up to 53,000 so look you just got to take it with a grain of salt so what's going on all right so we'll talk about it so Elon Musk said on a tweet and he just talked about I'm gonna go this very quickly because I it's kind of goofy Elon Musk said hey you know there might be some old things might be overvalued as far as the crypto market but it is less he said it's less dumb money than than fiat like that makes sense that's the whole story so okay we got that one and then the second one is this was from let me let me minimize this actually let me blow this up so you can actually see it uh show this before yeah this is from uh friends of the show george over there cryptos rs who just hit 100,000 100,000 yeah 104,000 viewers congratulations george over cryptos rs and he's always got this great data right here uh from crypto crypto quant he talks about how there's this huge outflow which you can see I can't say my mouse unfortunately but uh it said uh 1.6 billion worth and then he talks about how micro strategy should gobble it up for these institutions however you know we take a look at this for like that's a lot of bitcoin for these miners to dump and if you don't know f2 pool it's one of the five big mining pools they're based in china but remember they're a mining pool so all the different uh you know people uh different miners will connect to them but they have a lot of a lot of rigs right there I suppose and uh they just dumped a ton of bitcoin on the market which is it is kind of odd uh especially with what we talked about this weekend as far as like Michael Saylor said that a lot of these uh mining pools could just borrow against the bitcoin that they have and put it on the debt market and then you know have this debt for one three five years and uh you know let it ride but for some reason whatever the reason is f2 pools like nope we want to get rid of this and they put a ton of it on the open market so when people talk to me they're like you know hey you know we're not going to see big retracements or something like that this isn't a big retracement just it's like seven percent eight percent but um I still think that we're going to have a bear market at some point nothing goes up forever and uh just so you know like these types of things that people are always saying well the institutions are here never going to go anywhere never going to sell sure uh I've heard that song I've danced before and we'll see what happens I mean to me it only makes sense that things will just continue to go up it made sense to me in 2017 2018 2019 2020 but you have to have let the world catch up to you uh at some point because a lot of people just don't get it I mean heck even the motley fool were supposed to be these genius geniuses for finance they just uh like a week ago said hey we're going to buy five million of bitcoin at 50 grand good job so I mean with all these things that are going on you just kind of have to take it with a grain of salt and go all right um I just don't think that uh that much mass amount of bitcoin they can't there's only so much they can gobble up and once new people come in like more retail like us uh we might get a little bit scared and start to sell that's why you're watching this channel so I'm trying to just alleviate some of those fears and say this is normal no big deal next day here we come all right so we have that part and then of course there's another piece here uh somebody said I just got a call from my Chinese friend looks like drop is due to reopening of the of the Chinese markets just to temporary sell off sure so you take all those three things together and you go well maybe it's this or maybe it's this maybe it's this but I'm going to ask you a question right now who cares who cares what it is I mean that does it really matter does it really matter like there was a reason for this or reason for that that they sold off who cares all you got to do is just sit back and look at this and go what does this mean to me so if you've been in for like more than a month this isn't a big deal because you're just like okay well uh what happened is that it went down I just told my before I did this video I was talking my wife I go hey just so you know uh bitcoin uh dumped a little bit and it's down 10 000 which means the entire market's down so please make sure that you buy some crypto okay she's like okay and then uh our our big thing is we're not going to buy any more bitcoin right now we have our positions but I told her don't forget to buy cardano don't forget to buy voyager or if you want to do some polka dot that type of thing I go but just make sure you buy something today okay and that's it so as a investor this is the time that you have to live for and just go thanks for the gift I really appreciate it now if you're a trader and you just got wrecked because you were over leveraged and things like that I can't help you on that one uh but uh hey there's uh just more days that's why I'm not a big trader I mean I know there's a lot of people on the channel that that love trading can't do it just a little crazy for me I just think you know I'll just buy and hold I'll hit my positions and then uh when I want to cash out I cash out so again not a big deal this is just one of those days anyhow let me know what you think in the comment section and uh let's move on to our next piece which really wasn't a next piece just actually an add-on I just want to remind you of all the naysayers out there especially if you're new what's the term haters gonna hate haters gonna hate right and uh this was from jp morgan you know if you've been here uh for a while you know that jamie diamond was like I will fire any trader or anybody who's under my employment who deals in bitcoin or sells and trades bitcoin meanwhile they were mining it they were I think they were secretly buying it too so uh you know here we are and jp morgan this was like a month ago they said bitcoin will never go about 40,000 again just can't really sustain it right experts are funny uh because experts can only tell you what was they can't tell you what will be so when we look at these these financial experts in the traditional markets sure it makes sense right but uh that's the traditional markets and again it's a little bit different so just remember when you're seeing all these naysayers and they say it's not going to happen not going to happen look at some of the past things they've said and look at how many times bitcoin and cryptocurrency assets have died and here we are so just a little reminder that's all and uh next piece so uh the next part here I thought this was interesting uh one of my guys one of my uh uh vet friends uh uh from sent me this email goes hey man just so you know this what's going on crypto.com whites up so much so thanks I appreciate it man so there's really just two things here crypto.com is it's it's doing a lot of good things it's it's an exchange it has an app people seem to love it I can't get into it I don't know I just don't get into it but people love it I mean people love crypto.com so what they're doing right now they have a max token supply for their crow their crow token and uh it's 100 billion and the CEO and powers that be so you know what we're gonna burn 70 billion of that and that's going to be right ahead of our main net launch which will be March 31st so they're going to get off the ERC 20 token they're going to go to their main net which is always a good thing if you know if you've ever seen main net launches before just know that usually the price runs up before the main net launch and it's kind of like a couple of days or a day before it usually dumps for a while so if you're into that thing that would be a good thing to chase not a chaser I'm just an investor so just be aware of that but uh I thought it was interesting that they would burn 70 billion of their tokens and go we're gonna get away with that and just stick with 30 billion um I think it's a smart move that's a lot of tokens that's a lot of f and that's a lot of tokens so uh it's a pretty great move it'll probably keep going up if you're looking to invest in the crow probably be a time not financial advice not a financial plan or advisor but uh that is an option up to you just want to give it to you and uh that is it for that piece let me know what you think in the comment section let's move on to our last feature which is all about ledger so ledger an anal ledger s and x and all those things uh you can they are a fantastic product they haven't been hacked the actual device has never been hacked it's been around for years and it works what doesn't work so well are the actual websites and the api integrations that ledger has done for when people actually have bought their nano ledgers and the problem here is that uh they were hacked about let's say a month month and a half ago check me in the comment section but there was a data breach for a lot of personal information and we're not talking about like just like your name we're talking about like your name your phone number your address I mean everything that they could think of socials social security I believe and uh it was a bad deal and I said I like ledger I like the company but they have to me they handle it very poorly like extremely poorly uh and I that's just how I see it um there was an old and I talked about this before there was there was an old story it was uh I believe it was Tylenol Tylenol or aspirin one of those two this is back in the early 80s someone was uh was uh poisoning the bottles they would open them up and they would put in I think it was cyanide there was and people would die from it it's an awful story they want to get into it but what the company did is they said hey this is happening on our watch this is what we're going to do we're going to make tamper proof resistance uh seals cotton inside so that when you if you open the bottle and there's any kind of tampering throw those bottles away and they got in front of it and that's why that company is still around so like with this situation like with ledger uh I think they should have come out like like hard like in the very beginning and just like start just pounding it like this is what we're doing this what's going on and they probably did they I mean they probably said well we you know we put a bunch of emails out on twitter there's nothing better than a person's face talking to you about what they screwed up on and how they were going to fix it that is the best thing of all time so again I've done I've been many mistakes in my businesses and I'm always well I try to be the first one to go I messed up this is what we're going to do I'll fix it and then we go from there and it usually works out pretty well so just so you know I'll link this in the description they're going to have looks like this Matt Johnson the CI the chief information security officer he's going to be there on Friday February 26th doing AMA about what's going on a month later I guess better late than never so that's what we got today that's what's happening so that's it for today thanks so much for watching if you liked it well go ahead and give it a thumbs up if you want to hear more things like this so consider subscribing it's a lot of things we talk about our time sensitive like all the stories we just reviewed and finally if you'd like these types of videos I'm going to link two more in the left and right let YouTube do its magic and that is it for today so thanks so much for dropping by I appreciate it and I'll see you on the next one