In a recent video, cryptocurrency analyst Sam discussed the recent market downturn and potential reasons for optimism, including institutional investors starting to buy again and government actions to combat inflation. He also warned about the instability of the Tether stablecoin and suggested exploring multiple trading accounts to avoid disruptions. Sam also mentioned concerns about Microstrategy’s bitcoin loan, but noted that the company has a sufficient amount of bitcoin to use as collateral if needed. Sam encourages viewers to hit the like and subscribe buttons and provides a link to a platform where they can get free cryptocurrency.
The Crypto Market’s Recent Turmoil
Hey everyone, it’s Sam! Yesterday, we saw a major dip in the cryptocurrency market, with several top coins falling by as much as 35-55%. However, today, we have some promising news to share.
The Future Outlook
Something significant is expected to happen later today that will affect everyone in the US, and there’s something even more significant tomorrow that could impact the entire market. Additionally, institutional investors have started buying again, which is a positive sign.
The MicroStrategy Situation
Concerns have been raised about MicroStrategy being liquidated on their Bitcoin loan, but it seems that this will not be the case. We’ll discuss this further.
Multiple Accounts are Better
It’s always better to have multiple cryptocurrency trading accounts, as different websites and apps may shut down trading or freeze at unexpected times. FTX Blockfolio is a great option that offers free cryptocurrency on trades over $10, and you can keep track of multiple cryptocurrencies on it.
The Recent Market Dip
The market has taken a hit recently, with Bitcoin going under $30,000, but it has since climbed back up to around $32,000, which is still a great opportunity to buy.
The UST Situation
Terra’s stablecoin, UST, has recently d-pegged and fallen to 92 cents. People have significant investments in this coin, which is now causing concerns. However, things are looking better, and we’ll discuss why.
Liquidations and Nasdaq Trading
Many Bitcoin longs were liquidated yesterday, totaling over a billion dollars. Moreover, trading on the Nasdaq has lowered by 4.3%, which is concerning for some of the world’s largest tech companies.
Biden’s Plan to Tackle Inflation
President Biden is expected to release a plan to tackle inflation, which includes E15 gasoline, a release of one million barrels per day, and plans to encourage companies to invest in clean energy and electric cars. All of these initiatives could be significant for the future of the crypto market.
The MicroStrategy Loan, UST, and Moving Forward
MicroStrategy’s loan may be relatively small, but concerns around UST and its d-pegging have been raised. However, Michael Saylor has stated that they will continue to hold, and we believe that UST will get back to its peg eventually.
The market has recently taken a tumble, but there are several hopeful signs that things may improve. It’s essential to stay informed and keep multiple trading accounts to stay ahead of uncertain times.