BLACK THURSDAY: Bitcoin and Stocks Crash! What Happens Next? Transcript, AI Summary & Key Points

00:01 Welcome back. So, today was not a black Monday, but a black Thursday. Today was a horrible, horrible selloff day uh for for everything actually for crypto. Um even though it was bad, it wasn't nearly as bad as the tech selloff. I mean, the tech off was brutal. So, where do we go from here? What is going on? And more importantly, is this a good buying opportunity?

00:32 Let's take a look. So, right now, Bitcoin is sitting right around $76,000. Okay, so if I zoom out a little bit, you'll see that things aren't that bad. Of course, I would prefer Bitcoin being back up around here, 80 87. We have fallen back to this point sometime midepptember but overall you could see we haven't broken down to like 73 or obviously have gone down any further right so we've basically come down maybe like a month and a half to where we were before we had this really good climb so yeah so right now you

01:12 could see some green uh soul ETH ADA so they were much much higher prior like maybe a few days ago and unfortunately we have fallen but I mean just look at this this was horrible horrible right like Microsoft uh not Microsoft Micro Strategy down 9% Robin Hood down 10 coin down basically 10 Nvidia down 9% 9% ARM 13 you got AMD who just reported really good earnings yesterday down 17% oh something happened there and then just look at it.

01:52 MU Micron down 17%. Dell minus 14 15%. So like I said, even though crypto did not have a good day, tech stocks sold off much much much more today, but that could be a good thing. Now looking at liquidations on ass, you could see 24 hours wrecked. We're at 1.24 24 billion with a B. Again, most of it on the long side. And the funny thing is I mentioned this, you even you you even have like a tokenized stock like Sandis that's like third leading crypto in terms of liquidations even above Soul.

02:38 That shows how many people are holding or leveraging Sandis their tokenized stock. It's kind of crazy. But 1.254 billion liquidated once again. That's what caused today's dump. Okay. Everything sold off and you had a whole bunch of people get liquidated and a whole bunch of panic and that's exactly what happened. So we had three trillion over three trillion wiped out from the overall market today.

03:15 I don't know how much was wiped out from crypto, but it's definitely continuing like right now. Well, this is just showing that Nvidia lost all of gains in the last 6 months. And basically, a lot of these tech companies have, right? Like if you look at like AMD, Dell, Nvidia, all these guys did. Uh, and like I said, this is continuing like right now in Asia, steep steep selloff.

03:41 They're they're seeing they're seeing their trading halted. The circuit breakers are triggering 9% for South Korea. You have a massive massive massive overreaction right now, but it could be a good thing. Why is that? A lot of people think that obviously we needed some sort of correction. Okay? And after the correction, you know what happens? Things recover, right?

04:16 So for those of you guys that's been waiting for a golden opportunity to get in, we have reset back to September level. Okay, after this first climb up, we were stuck in the 60s, even 50s for a while, right? A lot of people gave up while we were going through that. after we came back down, a lot of people gave up here. It took months, let's not forget June all the way until September for us to recover, right?

04:46 And now we have recovered a little bit. We're hovering up here, but it took a long time, many, many months. This also drove a lot of people away. So sometimes you need that capitulation. And sometimes you need that liquidity event where everyone is driven out where all the fearful people are driven out and then you can recover. And we saw this back in September too.

05:07 And it's the same thing with the tech sector. Okay. So like if you look at if I click on Dell, you could see it basically got reset all the way back here when most of the tech companies started skyrocketing. That is Dell. This is AMD. You could see again they basically reset back to where is that back in May when they all started climbing up in a big way.

05:35 Uh if you look at I don't know Robin Hood let's see kind of the same way. I mean all these are like that. If you go to Nvidia, right, basically dropped back down to the pre pump level. So, they basically reset. They didn't go down any further. They didn't lose all their gains. They basically lost all the gains from the last few months before things started rising up in a big way.

06:10 Okay. So, what does this mean? I do think we had a very over correction. Okay. Um it's been like this for weeks, months now. Really, all these companies are still proving that they are very legit. They're making money. Their quarterly shows that they are making money handover fist. Their revenue earnings are still skyhigh. So P ratios have dropped down.

06:41 This is nowhere near a bubble. Okay, there's a lot of talk about AI. Yes, but we are not in the same kind of situation as the.com bubble in 2000. Okay, so yeah, we have corrected in a major way. But I do think this is a buying opportunity. I think the market overreacted. Way too many people have panic sold and this is a good time to get in. Now, it's easier said than done.

07:12 A lot of people are basically without any money right now. And I get that. That was the whole thing. That was the whole reason why we flipped blue here in the US, right? Complaints about war, about inflation, about high prices, high gas prices, everything. So, I get a lot of people are struggling, but this is the time to be holding and dinging if you can.

07:35 There are a lot of golden buys, golden opportunities where you can pick up for cheap right now and then months later, years later, you will be rewarded. I've shown a lot of charts showing that leading up to midterms you have this correction and sometimes you stay there for a couple months and then normally speaking after 12 months you're up like 30%.

08:04 And I showed that graph this morning. And if you go further out, like actually there's a graph that shows like 3 months, 6 months, 12 months, 24 months, 36 months. And basically after midterms or elections, things get really, really good. Really good indeed. So again, some people may be very very very fe fearful right now. I get that. But this is definitely a time, a golden time to be buying and holding if you can because things will recover.

08:38 Things will get better. It won't always be like this. Okay. Now, tomorrow we will have a jobs report. This actually surprisingly may help us. Okay. Um the numbers supposed to be 59,000 jobs added last month and unemployment supposed to hold at 4.2%. Right now if these numbers are actually worse and it actually will help the market because it will kind of curb this notion that we're going to have a rate hike.

09:12 Okay. Uh at this point it's anticipated that we will have a hike in December because of everything I've said because inflation high price and all that stuff. But if the numbers come in really weak and now with the stock sell off even though the Fed always say that they don't care about the stock market they do. So now that we have reset and if these jobs numbers come out worse than expected is definitely going to help things right.

09:40 We may not get a hike this year. That would be the best scenario. So, we'll see. All right, guys. That is it. Hang in there. I know it's tough, but hang in there. Things will improve. Crypto will recover. in the grand scheme of things is not as bad as it seems, especially compared to where we were back in June, July, August, and even midepptember or mid August until September.

10:11 So, we have reset back down a little bit, which sucks, but we're still hanging in there. We're still recovering, and better days are coming. All right, have a good one, guys. Take care. Bye-bye.