all right welcome back everybody to altcoin 
daily my name's austin in a matter of minutes   we have just seen bitcoin crash and bitcoin crash 
hard bitcoin dumps over seven thousand dollars   to below a forty three thousand 000 bitcoin as 
billions of dollars were liquidated in minutes   and the big question is why because look at 
this this is bitcoin on the hour chart and   does this look natural to you no this looks like 
complete unhealthy manipulation slash suppression   and how do we know well first off if it was a 
natural sell-off it would look more natural it   wouldn't be sudden it wouldn't be violent it 
would be a gentle loss of interest as we see   the sellers start to outweigh the buyers nothing 
about this sell-off is natural it is meant to   scare it is meant to incite fear and i'll prove 
it to you it's one thing to say manipulation   but i'll prove it to you because on this channel 
the reason that you subscribe is we drop a video   every single day demystifying this cryptocurrency 
market so you can make the most informed decision   for you i encourage you to join us on a road 
to one million and a let's jump in number one   it is no coincidence in my opinion that all this 
happened today meaning over the last few weeks   we were seeing such healthy growth such healthy 
accumulation of bitcoin and then all of a sudden   drop well in my opinion this is not a coincidence 
and this happened on the exact same day   that el salvador officially recognized bitcoin as 
legal tender what many people around the country   are calling bitcoin day so we now know that what 
started as just a regular natural sell-off which   is par for the course very normal in bitcoin that 
led to a very violent series of cascading longs   that drove the bitcoin price down over seven 
thousand dollars most of the liquidations   reportedly took place on buybit and also the 
largest single liquidation order happened on huobi   and it had a face value of over 43 million dollars 
okay to me this is a little bit of a relief to   me and i get it i'm not saying days like this are 
easy i would rather see the bitcoin price continue   to go up forever but if there is a sell-off it's 
nice to know that the fundamentals haven't changed   and that perspective is always something i like to 
share no a liquidation cascade does not invalidate   macro on-chain supply dynamics it got 
the leveraged apes off our backs for now   fundamental investor activity still looks very 
strong in fact question for you when is the best   time to buy bitcoin well the best time to buy 
your first bitcoin is obviously in a bear market   the second best time to buy bitcoin willy woo 
makes the joke of before a liquidity crash   but we all know by the dips best time to 
buy is during the crashes of a bull market   but again it's one thing to say it but let me show 
you the data there's a lot of channels out there   that will just throw you the opium i always want 
to bring you the data and we are seeing the buying   coinbase's premium is now at approximately 
200 that means there's some heavy buying   there that means there is so much demand to 
buy the dip we saw a huge spike in the premium   and guess who else bought the dip the country of 
el salvador added 150 new coins to their treasury   it was just a few days ago they bought their 
first 200 they have continued to add and now   although it appears the discount is ending el 
salvador now holds 550 bitcoin see here's the   thing if the sell-off was purely due to a 
lack of interest or worsening fundamentals   we wouldn't see the smart money step up but 
because this was due to manipulation billions   of dollars getting liquidated it created 
a great buy-the-dip opportunity and i do   want to share with you the latest news involving 
altcoins like solana like polka dot like others   but just know despite what the price does on any 
given day the fundamentals the network is only   growing larger el salvador's largest newspaper 
has just added the bitcoin price to the home page   and we can see that right here their most popular 
new site is now advertising keeping you informed   about bitcoin and why in full display on the 
newspapers homepage a live bitcoin price tracker   is visible in the upper right hand side of the 
screen this price tracker will be a convenient   tool for citizens now mandated to accept 
bitcoin payments as part of their business   a small but positive sign and next piece of news 
this one's even bigger the republic of panama   is now doing the exact same thing el salvador 
is doing the republic of panama has introduced a   bill to regulate crypto this is a major green flag 
and while we know that el salvador just legalized   bitcoin as legal tender for the country panama is 
saying that we want to make bitcoin and ethereum   and cryptocurrency legal tender in our country 
and why do they want to do this well announcing   the news on twitter panamanian pro crypto 
congressman gabrielle silva stressed that the   new legal initiative has the potential to generate 
thousands of jobs create new investment sources   as well as make the government more transparent i 
love it they saw el salvador and they say hey we   want that same opportunity according to the draft 
bill document shared by silva the new legislation   intends to recognize crypto assets like bitcoin 
and others as an alternative global payment method   for any civil or commercial operation not 
prohibited by the illegal system of the republic   of panama and in contrast to the government 
of el salvador which has required to local   businesses to only accept bitcoin in exchange 
for goods or services alongside the us dollar   panama's new crypto bill does not intend to 
force obligatory bitcoin acceptance instead   the legislation calls to establish freedom to 
use cryptocurrencies like bitcoin and ethereum   in panama give me your thoughts on this down below 
but adoption is growing on a nation-state level   for bitcoin and now for ethereum and next piece of 
news let's talk about solana because in a sea of   red bitcoins down ethereum's down cardano's down 
why is solana holding steady well check this out   you can now mint nfts on crypto exchange 
ftx and we know that exchange ftx as well   as altcoin solana have a lot of the same backers 
and why this is significant is because while the   majority of nft trading volume happens on the 
openc marketplace crypto exchanges are starting   to realize that they can directly offer a similar 
service to their millions of users so once you buy   your first piece of cryptocurrency why go to openc 
if you can just stay on the exchange you bought it   from and mint nfts this means that ftx users can 
create their own artworks and mint them as nfts   on the exchange to be sold within its marketplace 
this includes u.s users via ftx us and we know   that nft minting is obviously bullish for ethereum 
but it's also bullish for solana bankman freed ceo   of fdx noted that all nfts will be cross chain 
across ethereum and solana blockchains so we are   going to have to see how this affects openc and 
then now how much of this nft creation happens on   ftx on the ethereum and so on a blockchain and i 
will say it's not all the rainbows and butterflies   there are fees buying and selling nfts do not 
come cheap on ftx they do charge five percent   of the buyer as well as five percent to the seller 
so a total of a ten percent fee which to me this   is outrageous but what i will like to see or what 
i would like to see is as coinbase as in certain   exchange kraken as they all add these features 
as openc starts to get more competitive now that   they have more competition the fees i would hope 
would go down and next piece of news for polka dot   the former director of libra facebook's libra has 
now joined polkadot bertrand perez is joining the   web3 foundation as chief operating officer after 
resigning from the facebook linked dm in july   so the same person which was ceo for libra is now 
becoming ceo of web3 the company behind polka dot   perez actually wore two hats at diem one sco and 
the other as a managing director of the libra dm   association which he set up from scratch prior 
to spending two years at diem he was a senior   director at paypal for close to eight years so i 
guess polkadot wants to make sure they are staying   regulatory compliant whatever that means by hiring 
a person that came from paypal which came from   libra dm and now works for them in a direct quote 
from perez i got into blockchain back in 2014   while at paypal and of course i wanted to stay 
in the space and decided on the web 3 foundation   which has incredible technology and a great 
future so small but significant in my opinion   green flag for polka dot and next piece of news 
i was going to talk about cardano cardano plunges   as critics take aim at smart contract launch 
but you know what they'll always be critics   i do want to take this time to recommend you an 
interview i highly recommend you check this out   there's a link down below in the description we 
had a great conversation with elliot from the   youtube channel elio trades on the best play 
to earn cryptocurrency nft games on his radar   right now check it out link down below and that 
is the video my name is austin see you tomorrow   and leave a comment leave a comment on the 
bitcoin price on an altcoin price leave a comment

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