Transcription
Welcome back guys. So today, not a good day. Obviously, it was, in fact, worse than even yesterday. And does anything explain it? Do we actually have anything catastrophic that caused what happened today? Well, let me explain a few things. Let me share a few things. Um, and we'll go from there. Uh, this actually was one of the things today. Okay, AI valuation. Uh, although this didn't make a whole lot of sense, but it happened. Palunteer, I mentioned, had an earnings yesterday, and the earnings actually wasn't bad. But there's just now, like, all of a sudden, this fear that AI companies are overvalued. And Michael Bur, a lot of you guys know him, the guy from The Big Short, the one that shorted the housing market, he has been wrong on every prediction since then. But he also came out and said that he's shorting Palunteer and Nvidia. And most people say that, well, that's totally ridiculous. Okay, but there are some on Wall Street that are thinking, well, maybe, maybe he's right. Maybe AI is too overvalued right now, and today, man, because of this, things went down hard. I mean, just look at my, look at my list here. Okay. Um, look at Nvidia down 4%. Broadcom down 3%. Palunteer down 8%. Not only that, even AMD, that's in, you know, AI now, down 4%. And of course, look at Micro Strategy, Coinbase, Robin Hood, down equally as 7%. So today was one of those horrible days. It wasn't just like bad for crypto. It was bad everywhere. And I think this could be the biggest reason why for today, right? Although, like I said, there's really no concerns at this point that Palunteer as a company is doing bad or Nvidia is doing bad. It's just that there's this concern that maybe they're all too overvalued right now. But obviously, uh, when the stock market goes down, uh, you know, it's, it's not too good for everything else.
So, Bitcoin actually broke below 100,000 today, went to 99K before recovering, and right now we are sitting at 101, which, you know, obviously is a better place, right? Holding above that six-digit, that magical six-digit that we're so accustomed to, even though like a 1,000 point doesn't really mean a whole lot, but the psychological level holding over 100,000 is very, very important. Okay. Uh, so we lost probably like 300 billion overall. We lost over a billion in liquidations. So compounded with all the fear about AI and over, you know, overvaluation of stuff, obviously this is what, you know, what's affecting everything. Also, this article talks about something interesting, how the government shutdown, it just, it seems like it never ends. It got denied by the Senate again, but this is also sucking up a lot of liquidity. So I don't think a lot of people think about this, but yeah, with the, with the government shutdown, a lot of the things that they're supposed to be doing are not being done. Obviously, like a lot of the economic data, you know, we haven't seen a lot of those, but a lot of payments are not going out. And this talks about how a lot of liquidity that's supposed to go to banks that are meant for like lending and stuff like that has been withheld. 700 billion has been withheld that should be released to the general public in some way through banks or through financial institutions or whatever, or even salaries. A lot of that is being withdrawn. And analysts say that when the government shutdown is finally over, that returns and could be the call they're waiting for for a major rally ahead. So this is another reason, another reason why I think things are just not that good right now, right?
Uh, so overall, fundamentally, did anything change? No. But we do have a lot of these, like, stuff going on, right? Government shutdown is having effect. Uh, still some of the things around, uh, the things that we, I think we just got over, like macro stuff, like tariffs obviously had effect. Power being negative had effect. I mean, uh, AI now, there's like fear about AI is having effect. I mean, all this is just like compounding, right? But again, I believe this is all leading up to something, right? I've been saying it right now. We've been suppressed and manipulated for far too long. The energy is there. Everyone is looking to, looking to put their money in. They're waiting for that bull run, that altcoin season that we all feel is coming. It's right around the corner, but just hasn't hit yet, right? And, uh, for one, one reason or another, we just been having bad news, bad news, bad news, bad news. But we will get through it. We will get through it. I still believe that. I don't think the bull run is over. I don't think the top has happened yet. I do think we have more room to grow, right? So, the smart thing is to stay strong. Hodle and DCA. The projects that you guys believe in. Continue to hold and DCA. Or maybe if you're out of funds, don't DCA. But do not panic. Today we had a lot of panic, a lot of panic sellers just sell out of everything, right? But again, if I'm right, if the markets are truly being suppressed or manipulated in some way, it's because they want you out. These guys are doing it, they want you out so that they can accumulate more at a discounted price. And that's how they go profit. Remember, you make money by buying low, selling high, not buying high and selling low, right? So, if I'm right, if these whales or market makers or exchanges right now are doing their thing to liquidate as many people as possible, to remove as many spot holders as possible, there's a reason for it, right? There's a reason for it. So, do not fall for it. Stay strong. Stay focused. Obviously, pay attention to what's going on. If something big fundamentally has changed, hey, maybe I'm wrong and then maybe I have to change my thesis. But from what I'm covering and from what I'm looking at, these are all temporary things, right? Government shutdown is temporary. The, the, the Fed, you know, FUD is temporary. We know that the tariff stuff, you know, the trade war stuff is temporary. All these are temporary things that we can't overcome. And of course, all the good things that are measuring Bitcoin are still positive, including all the companies that are still adding to their treasuries, right? The long-term holders are staying strong. It's just that the retail investors, right? They're the ones that are panic selling right now. But if you look at everything in cumulative and obviously this new administration is very pro-crypto. For the next four years, we're going to have very favorable regulations as well. These are all great fundamental things that has not changed. But obviously, short-term, we're seeing a whole lot of disruptions, right? Even gold skyrocketing, something that we've never really seen before, right? Because it's a debasement trade. There's just so many things happening right now. But we just started November, and I believe we will see some, not only recovery, but see some big moves in the near future. Okay. So, I'll see some of you guys in a bit on my I am George channel. For the rest of you guys, I'll see you guys tomorrow, 8:30 a.m. Central Standard Time. Take care. Bye-bye.