What's up guys and welcome back to the channel and welcome back to another wild wild day in the world of crypto and this has been the most frustrating morning i've had here in crypto and no not because the market's down but because i've been trying to buy some coins over on the bsc the finance smart chain and it has been so.
Slow i managed to get one of my favorite coins but not at the price that i wanted it moved 20 back up because i couldn't get the transactions through very frustrating so we're gonna go through exactly why the market's going down what's going on am i scared what.
I'm doing all of that sort of stuff if you like crypto bitcoin making money online then this is the channel for you so smash up the like button hit that subscribe button and if you don't know me already my name's connor and i am not a financial advisor i'm just a guy standing in his room talking about different ways to make money online now.
In a moment like this when the market is really really scary it's always great to have other like-minded people to bounce ideas off to ask whether or not you think you should be buying or selling going through different trading strategies and all of that but you get that over on the patreon now i have a community growing there of loads of.
Like-minded people we have chats for different things like nfts hype coins meme coins everything that you need to keep completely chill in a moment like this so if you like that come over and join the patreon the link is down there in the description and if you sign up today and you don't like it within the first couple of days just drop me a dm.
And i'll give you a full refund we were speaking about gems to buy just a few minutes ago and i'm sure you guys are gonna love it anyway what we're gonna do is we're gonna jump straight onto the bitcoin chart we're going to go through exactly what happened and we did actually see a 21 dip today on the day that is wild that's.
That's big even for crypto right 10 drop on the day hey who cares 20 now that's a big old move so we dropped all the way down to about 42 000 from 53 000 to 42 000 so about 11 000 drop in a day that isn't that unheard of i know twenty percent sounds like a lot but eleven thousand ten thousand ah pretty normal for bitcoin but.
This of course sent the market wild right the market went running people got scared people were panicking on top of all of the panic selling i got on my green bay packers hat so uh i don't know if you know what that means someone told me what it was in one of my other videos but i have no idea who this is i just really liked.
The colors someone tell me what tip they're from somewhere i can't remember if you're in america let me know where they're from but my real point was these people who got scared and they sold their bags also on top of that we got 2.43 billion dollars worth of liquidations 2.43 billion dollars of liquidated longs.
In one single day now this is what is triggering this so we have the mass panic over the new variant of the rona rona we've got china coming out and banning crypto or something again we got charlie munger coming out and saying he wishes cryptocurrency had never been invented like no one really cares what.
You have to say mate sorry i do actually really respect your long-term investing philosophy but when it comes to crypto you just don't get it just don't get it right so but anyway he's mad china's mad the new rona rona variants mad people are panicking mass liquidations and that is why the price has dropped super super fast there.
Is also fears of regulation u.s lawmakers urges congressional action on crypto as the government avoids shutdown this is just what's happening man this is this is this is normal for crypto obviously it's concerning obviously regulation for crypto is concerning but if you have a game plan when you go into crypto when you make gains you take a.
Little bit of profit if you always have a little bit of cash on the side a little bit of profit on the side when you have moments like this it's not scary it's exciting because you get to buy the dip now let's go through what i've done and where i think we're gonna go first of all let's just check out the chart right now we did close below my.
Line of support and yes like i said if we start to close the daily candles below this that is us entering into a longer term correction or even a bear market could be short term could be long term but it can happen so prepare yourself for that one thing is do not just go crazy on a day like this do not put all of your cash reserves back into.
The market right now because we can see more blood a lot of the time we see bouncing around before maybe even moving lower ideally we will continue to go up and some could argue that we are still in an upward trajectory i think we've broken that as we speak right now but let's see where the daily candle closes that's what's really important and where.
We go over the next few days now december is notoriously bullish for bitcoin but things change this is why i don't like to do too much technical analysis on the channel because nobody saw this coming nobody on youtube saw this coming and said this was gonna drop eleven thousand dollars overnight i went to bed thinking yeah we're probably.
Going to be a little bit turbulent because we didn't manage to close above this line but i wasn't expecting that nobody knew and that's what you have to make your game plan the game plan has to factor in nobody knows what's coming no matter who you follow whether or not they said they guessed something last time maybe they.
Did get it right but that doesn't mean they're going to get it right every single time we never know what's going to happen and this is why i always always practice taking profits when the market is green now i took profits from solana when the market was green it went higher it went lower it went higher again but i have that cash saved for a.
Day like today i took profits from all of my long-term holds even though they are still my long-term holds it keeps me safe on days like today i still have 20 cash reserves they're a little bit lower now because i have been buying the dip today if we pump quickly from here i'll take those profits and add them back into my cash reserves and i will have.
Overall a larger portfolio not getting greedy and all of that sort of stuff so that's what i'm seeing today that's what's happening what i'm doing is buying right so i already added to my bags of solana or i already added to my bags of dot and also kcc pad the reason why i bought kcc pad and i talk about kcc pad a lot on this channel it's.
Because it's a launch pad it gives us access to a lot of different coins and people have been talking about this project that is launching very soon here on kcc pad meta v-pad this could be a 100x opportunity and today the price that it costs to get involved in something like this as we speak is down.
16 but annoyingly it was down way more than that i was trying to buy it here just a few minutes ago i've been sitting all morning trying to buy this nothing would work my metamask wouldn't work my trust wallet wouldn't work there was something wrong with the finance smart chain i'm so frustrated at this this is not meant.
To happen but this is the problem when things get over congested when people are panic buying and panic selling right so i didn't manage to buy it here i bought it around the 20 cent region around this dip i'm glad i got a little bit but i wish i got more but this is the opportunity right people are always complaining that platforms like kcc pad.
Are way too expensive but you had a 25 discount on the day to get into this now i'm not saying this is gonna pump from here i'm not saying that that meta v-pad is definitely going to make you a millionaire nothing like that but when you're trying to get into projects when the market is super green when the market is way way up.
That's not the right time the right time is to be buying when the market is on a discount 15 on the day now i woke up this morning i woke up this morning looked at my portfolio it was down 20 the whole thing was down 20 that's probably the biggest pullback in my portfolio i have ever seen in my whole life but.
This is what we signed up for there's nothing we can do about it this is how crypto works because we are still early on when we're not early on anymore what will happen is we'll see moves like we see in the s p 500 or over there in the stocks and shares world maybe we see a percent the world goes crazy over two percent but you won't be making a.
Thousand x games in a day anymore that will be done because we won't be early anymore with all of that said hopefully i did provide you with a little bit of value a little bit of chill a little bit of entertainment and don't judge me because of my hat please because i like the colors anyway i'll see you guys in the.
Next video peace