Transcript
0:00 So, there's a storm brewing in crypto right now, and every single investor needs to be aware of the risks, and I'm talking about the actual risks. On this channel, we will not sugarcoat it. My name's Austin. I've been in markets for about nine years. I've spoken to some of the biggest crypto names on the biggest crypto stages. And you can always tune in to Altcoin Daily for not just the good news. Again, we're not just going to give you the bullish news, sugarcoat it. markets are red and we should talk about it.
0:31 And before we start with why markets are dumping and I'm talking about the actual reason why Bitcoin is dumping, I think it starts with investors. There is a mistake. There is a mistake that I see many investors make depending on what walk of life you come from. So, so for perspective, the mistake I see new people who enter the market, new people who get into crypto make like trady and this is the year of traditional finance, trady coming in, they get shaken out of the market by volatility. Now, if you if you've been in crypto, you think that's outrageous. That's why we're in crypto for the volatility. But new participants to the market, they see whether it's a 20% pump up or 20% pump down, crash down, that tends to shake them out. So, so that's a mistake that traditional investors make. And on the flip side, what's the mistake that seasoned investors make, especially in crypto?
1:34 It's boredom. It's the lack of volatility. There's nothing more exciting than of course a pump up but even a crash down because that's a buying opportunity. Crypto investors understand that. But it's those weeks and months in between all that that really crypto participants make a as they invest in this market when you really shouldn't. Like the dips are healthy. We know this. We can look at and I'll throw a chart up here. We see the Bitcoin price. We see after the president the Bitcoin ETF pump, the presidential election pump, every major pump of a bull market, the price went up and then we had weeks and weeks if not months of consolidation that allowed the bull run to continue.
2:20 The slower we go up, that's that's how a healthier market performs. So, number one, understand what mistake you're more prone to, whether you're Tradi or your cryptofi. And that brings me to the major mistake that I think many many many investors make. And of course, we'll get to why Bitcoin's crashing. That's that's really what we care about. But the mistake that I see that wrecks that absolutely wrecks crypto investors is trying to think you're smarter than the market or you can trade this market. And for perspective, I mean many of us, I guess I'm just speaking for me, but I think a lot of you, midterm to long-term bullish, anything can happen short-term.
3:06 And how people make the mistake or how people overtrade that is thinking, I can time the market. I know better than most participants in this market and I'll sell before it crashes and I'll buy back in before it pumps. So already you're telling yourself that you can out trade the market twice. You'll catch it before everybody else on the way down and you'll get in before everybody else on the way up. The longer I've been in crypto, the more I understand that for 99.999% of people that isn't possible, right? On altcoin daily, we're going to be smarter investors. And not that everybody can't, but truly the time-t tested method of how to win in any market investing is dollar cost average. Think long-term and don't try to overtrade. So having said that, now that we understand the mistakes, why is crypto crashing? And I do think it's important to understand mistakes before we understand price action because if you don't understand the fundamentals, then it doesn't matter what the price action does. By the way, if you appreciate these check-ins, if you appreciate me coming at you on a weekend when prices are down, but a lot of other YouTube channels would take a break. Price is down, that means less views potentially, click the like button, click subscribe, I will be with you whether Bitcoin goes to zero or a million, and I'm not taking a break till then. Either one. But why is crypto crashing? Crypto's crashing because of midterm cloudiness, midterm overhang.
4:35 That's uncertainty. artificial intelligence leverage flush out right traditional market markets tanking the stock market the NASDAQ tech especially leverage is getting swept out that's healthy again we want that that that will prolong even the traditional market much longer and then of course oil prices going up is all taking money out of the crypto market now why that doesn't matter is to me is because that's healthy Bitcoin literally is up or was up 50%.
5:08 50% since its last pump from the bottom. And we need I mean for a sustainable market we shouldn't want to go up too fast. It's good to understand that okay nothing fundamentally has changed with Bitcoin with crypto like the fundamentals compared to a year ago compared to 2 or 3 years ago at least 10x better. And we talk about all that all the time. The regulation the plumbing the infrastructure being built. That's obvious. If you subscribe to altcoin daily, you understand that long-term the fundamentals are improving. Shortterm price is going down because of everything not to do with crypto, right? We need pullbacks in the AI market to prolong the bull run of the AI market, AI market. And that's the prolonging of the AI market is absolutely absolutely going to help the crypto market. And of course, this happens every single midterm. Markets are cyclical. I talked about this a little bit in my previous videos, but every single midterm year, markets go down or at best stay stagnant the majority of the time. That's because there's uncertainty. What What's new what new Congress? Are they going to be Democrats? Are they going to be Republicans? Is that going to mean new laws, less laws? All that stuff adds uncertainty. So big money would rather wait until they have certainty after the midterm election. My prediction is that a lot of this uncertainty in markets will magically clear up when midterms are finished. I'm not talking about that exact day. Maybe it's a couple days before. Maybe it's a week or two after.
6:45 But that always what's tend always that tends to happen. And the other big reason that tends to happen is also because while the Republicans have been in control for the last two years, they controlled Congress. They control the presidency. At least one side of Congress, if not both, are going to flip Democrat. That always happens. That's not me taking position. I'm saying that always happens no matter who's president historically. And that means that less new legislation can get passed. They're more at a gridlock. Not a lot happens the second two years of a of a president when the Congress flips against him. And guess what? Markets love that because nothing new will happen. They have certainty. markets don't like the uncertainty of new laws, new legislation. So, all that bodess well for crypto, do not get shaken out. And the last thing I do want to say is number one, if you tuned in to me on a weekend, then you're committed. You're committed in learning more every day, which is completely free. I want to reward you for the first three people, and I'll put a link down below for our merch that want a beanie to prepare for the winter. put in the promo code, let's say carrot, one word, like the healthy eating carrot, carrot 50. And the first three people will get 50% off an altcoin daily beanie if they want one. And then for the next 200 people, let's say, put in carrot 10 and you'll get 10% off. So again, if you have notifications on, you get rewarded first.
8:20 and that encourages you to always watch to the end, tune in. I want to reward the altcoin daily army, the true guy, the true guys and girls out there. And then number two, and I'm not supposed to say this, but again, I'll share with you, it is certain to me that long-term, anything could happen short term, but mid to long-term crypto is going in one direction. And to prove it, we have two big two big interviews that I can share with you that are coming up, not this week, but the first week of November.
8:45 Tom Lee, Funst Strats, Tom Lee is coming on Altcoin Daily. If you have any questions, drop your questions for Tom below. the ones that get upvoted the most, those are the ones I'll I'll look at first. I'll probably ask. And then Raul Pal is coming on that same week, a different day. But if you have questions for Raul, and those are two of crypto's biggest bulls, are they still believers? Do they still like certain altcoins? I will ask it all. But especially if you have a question, right? We're in this together. We're going to learn together.
9:13 Comment down below. My name's Austin. I will keep keep you updated as the crypto market unfolds. Appreciate you. See you tomorrow.