It says it's. Another gloomy day for the stock market, the Dow Jones Industrial Average dropped below 19000 points and stock futures have taken a major hit after an economic stimulus package designed to deliver financial assistance, both individuals and businesses alike hit a snag, even though the Federal Reserve announced massive Loan interventions this morning, the crypto industry is remaining relatively stable at the time of writing. With many of the top 20 coins enjoying gains and even marginal gains anymore, things have changed over the last couple of hours. The USD price for Bitcoin, for example, increased by more than four percent since the weekend, having shot up from 50 960 300 either is also up X. Rp is also up. Oil, meanwhile, has stayed steady trading at 22 per barrel. The jumps come after the Federal Reserve shared it would do anything to ensure the American economy would be better and what it currently is written now, including printing and more cash for many that's. An argument for Bitcoin, which has a finite supply. According to The Wall Street Journal, some of the tactics the Fed would utilize include extending loans to both small and large businesses alike and purchasing billions of dollars worth of government debt. But as Wall Street awaits news of a potential stimulus plan from Congress, stocks have continued to their downward trajectory. This is Anna and I don't even mean unprecedented we're, seeing every effort that could possibly be done, that's actually within the arsenal of the lawmakers and monetary financial institutions, and none of it is working keeping in mind that interest rates were also just dropped too percent, and We mentioned that before when you do that, you tried to make debt completely free.
You tried to make it so that people will take out debt in an effort to kind of boost the economy back up when you lower interest rates from two percent. One point: five percent to one point: two percent, the 0.7 and then still zero percent and nobody's buying. That is a problem when you announce that you are going to print one point: five trillion pieces of paper push into the economy and stocks go down. That is also a very, very big problem for those of you not looking at the screen. This says stocks fall to start week after Fed announces, unlimited asset purchase program. You may remember. Last year we had news around even before all of this mess began. You may remember, we had news, I think the Federal Reserve had announced they were going to. I think it was half a billion dollars. I think it was no; 'ikai, it was it was. Definitely it was several billion dollars that they plan on pumping into the market and that's what caused these stock markets to go up during to the end of 2019. As a lot of analysts already saying things, didn't look too good and things were already a little choppy it's and even then we still have an additional 1.5 trillion at least that's going to be pumped into markets or that the markets have been told they're going to Get and it's done absolutely nothing so as a result of this and we'll get to that a bit later as well.
The stock market's not doing well. The crypto currency markets are actually moving on up, because I mentioned before and many other videos at some point. People will realize, even more so than they do right now that bitcoin is finite. You cannot go to a computer type in 1.5 trillion on Bitcoin and then it creates more there's. Already a lot of Bitcoin that's, not around anymore it's other been lost, it's gone it's under a lake or a river, or something like that somewhere. Only time will tell, of course, the entire point being is that hmm many analysts are now predicting that what is currently happening? It could continue for another couple of months and if it does any gains that the stock market had over the last four to five years would be complete, I think they already eliminated. I think the last four years have been completely wiped out. My friend was sending me a message. I think the stock market has lost. I think 37 of its value over the last two to three weeks, that's just weeks, that's, not even months. So imagine just imagine if next up etherium saw a slight overnight rally that allowed it to move back towards its resistance within the lower 130 region. The movement came about in tandem with that. Seen by Bitcoin was surged all the way up to highs of 67 hundred. Before reeling back towards 6000, that's also been reversed as well, because Bitcoin is definitely not as 6000 anymore.
This recent price action seems to confirm that ether, Bitcoin and other cryptocurrencies are currently caught within bouts of range bound trading as they are currently as they may currently be seeking direction from the stock market. They have pushed opposite the stock market, actually like a little dance, move, it's kind of weird. What analyst has known that Ethier, iums overnight surge, has led up to its key resistance level, which means that further momentum here could just be what is needed where to post some notable near term gains there. Iam Bitcoin and the rest of the cryptocurrency market are have reacted positively on the news, and this is what I said before in other videos – reacted very positively on the news that not only will a countries be printing trillions of dollars in an effort to in a Sadly, failing effort to push things back up, but also that, once again, they're printing tons of money and it's not a really it's, not a good sign for the economy when nothing is working like low interest rates are supposed to be like the oof. You guys have really low interest rates. You, your economy must be doing really. Well, oh it's, not oh, you have zero. You have zero percent and it's still. Okay! Well I'll! Just take my money and go this is this is pretty much what's happening, especially all the other controversy that we had in the other last video, with allegedly the multiple senators within the states who found out about the current happening.
You know what's happening right now. In January they were told what would happen and then they started selling off their stock portfolios. The very next day, oh it's, just a lot going on right now. This one says: bitcoins price has been dealing with extreme volatility over recent events. However, the digital asset appears to be gaining resilience based on the recovery odes it pulled on Friday and Monday. Last week, bitcoins price have broke a key resistance level at 6000, impressive upside action approach to 7000 zone. Unfortunately, a breakout did not materialize, leaving Bitcoin vulnerable to losses under 6000. At the time of writing, Bitcoin is trading at 6500 it's, actually a bit even over that right now, at least at the time of me, making this video the Asian hours have been characterized by increased of buying entries. However, it is still not enough to sustain momentum towards 7000. Of course, the the big news right now is Music is Bitcoin trying to hit 7000 if it hit 7000. We have had a 2000 somethin dollar reversal over the course of 38 46 and a half point to 5 hours, which is incredibly bullish, especially as we see the stock market declining, which once again then only reinforces that any or much of the downward movements that we Had within our market were fraudulent and they were done by people I mean listen, they were done by people who were trying to accumulate more and they accumulated more and now they're richer for it.
So almost said, you can't knock the hustle, but I stopped myself and I still just said it out loud right now anyway. So the price of Bitcoin is, of course, not of course, but it's also up right now as well, and you may notice it is like a string loosely attaching all of these articles because they all fit together. The US Federal Reserve today announced its new unlimited bond. Buying plan to help the falling stock market, the Reserve is thus expanding its facilities to include corporation and municipal debt to help small and large businesses and local governments weather what is going on. They said aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery. Once the distributions abate crypto market, for its part, appeared to receive this news very well Bitcoin trading at just over 6000. At the time of the announcement rose by five percent following the news breaking out here's the news that a lot of people are focusing on. However, it says president Trump also recently announced considering plans to halt the stock market. This created a lot of confusion as to what this might mean for the crypto industry. Well, some crypto contributors were bullish, expecting bitcoins price to rise, others weren't so sure, and then they talked about a couple of crypto youtuber traders and as to what they were discussing. One of them, of course, in my opinion as well, believes that this will be rather bullish for Bitcoin in the wider cryptocurrency market.
You stop the stock market when things are bad. The last time so we've had like 15 45 minutes tops or we've had like early trading days, but the last time the stock market was stopped was for a week, and that was September in 2001. So one must ask: do they consider that to be a correlation or similar to what similarly happening right now and even then, in 2001, after the stock market REIT opened? I think the market fell by 1415, something percent. It still went down because, when you close a market for a week, people wonder why is the market closed for a week and the people still begin to panic? So if the stock market does indeed get turned off next week, says it right here as well as says Trump eyes, grounding jets, halting stock trading and ordering shelter um. If this does all take place, I am going to assumption that the stock market would also not do very well and as such. Usually this is so it could go a couple of ways. People will either be fearful ready to hit the button when the stock market reopens, or I think, we'll start to see a move towards potential move towards the cryptocurrency market. One of the major things that a lot of people don't, even really think of when they think of the cryptocurrency market, is that crypto is 24 hours. The normal stock markets are not it closed down. Everyone goes home and that's kind of the end of it, and it also even shows is the same exact way that the current traditional financial system is completely fragmented and it doesn't really work together.
The same exact way that the stock market closes early riptos 24 hours. The way that the current financial system is fragmented, it doesn't work together. You can send Bitcoin 24 hours a day anywhere around the world and it never stops working. So not only is this week, gon na be interesting, but wait for it. Next week's also gon na be kind of crazy, because if the stock market ends up getting shut down, we can assume that people will begin to panic, because you do when have you ever heard the stock market being closed down? That was 19 years ago, it's um and this isn't, even all of it, there's a for my next video that I'm going to do as a as me trying to make multiple videos per day so that people have things to occupy themselves with something took place yesterday And it is oh there's a little animal took place yesterday, and it is probably the craziest thing ever you're gon na need your. You will need your tinfoil hat for this one, because it is it's it's gon na it's. Definitely gon na be a doozy. But the point is we're gon na see. I think this will be a pivotal moment for the cryptocurrency space. I already wholeheartedly believe if next week the stock market is closed and crypto goes down, do not be surprised if, four days later, we end up having news that there were some type of bears or monsters or dragons who were selling off as much crypto as possible.
In an effort to get the prices down, because when you talk about the resilience of crypto currencies and them not being able to not only be shut down but also not being under the control of any one, Bitcoin should rise rapidly in price. When the current financial system, the stock markets are out of order, think about that let's move on next up. Governments around the world are responding to the economic crisis caused by what's happening by printing billions and new money, which would result in Fiat in Felician. This has seen at some point out bitcoins features, including its limited supply. Like I said, you got to see a little correlation between everything they were reading. According to a report published by Zero Hedge to deutsche bank, strategists are warning against the use of helicopter money as central banks rushed to print new money and provide economic relief granted gist. Oliver Harvey and Robin Winkler published a report claiming that the injection of helicopter money could cause or make the current economic crises a lot worse. They said the economic policy response to what's happening looks very similar to the last financial crisis. Central banks have responded with liquidity for the private sector through swap lines with banks and purchases of commercial paper from corporations and have lowered the cost of money through interest rate cuts and quantitative easing. The authors argue, the 2008 crisis was caused by a lack of confidence in the banking sector, while the most Rican reconned recent, so reconned most recent economic collapse is being generated by government policies.
I was trying to take an air as I was trying to also talk it didn't work out for me. We, oh my gosh. Everything that people said would come true years ago seems to be materializing. You may have been here in 2018 or the beginning of 2019. Maybe even in 2016, before I even had the channel where people were constantly discussing when there is an economic crisis, not much will be able to be done to kind of persuade it to go away. I remember hearing many economists telling me before I even understood what a negative interest rate was, that it would eventually happen and the it's a weird term, but you understand it. The the final nail in the coffin would be when the u.s. lowers their interest rates to zero and then eventually in a desperate effort to get things moving back up, lower them below zero. In hopes that things will get better. I don't think we're going to see a negative interest rate in the next couple of months within the US simply because I think there do you get at the bottom of the bowel right now, trying to figure out and once you've claw through the bottom of the Barrel here in the dirt, and then I think, when we're in the dirt that's, when they'll announce that anyway yeah the markets aren't doing well, we are seeing aggressive economic policies that are doing absolutely nothing and at the same exact time we are setting ourselves up for A situation where there IAM 2.
0 is coming out supposed to be soon we've. Seen all these major remember all that all of all the financial companies and all the banks who announced before months ago that they were going to be and are already using, aetherium, and i assume will be using it even more once it can do anywhere from 3000. To a million transactions per second and we get closer to bitcoins having I don't like what's, currently going on, you know what's going on. Of course, none of us, like it it'll, be fascinating to see if this is the catalyst that pushes Bitcoin forward. If we continue to see aggressive economic actions by countries and nothing ends up working and bitcoins for some reason around May June July starts moving up in price and other people realize hey I've lost money in the stock market. I lost money in this. Let me start putting some money into crypto when the issuance rate of Bitcoin is already cut in half it'll, be quite fascinating to see what's gon na happen and I I'm a little excited. Okay, slow down. The point is yes: hyperinflation, inflation? You you can't print 1.5 trillion of something and not undergo 8, a devaluation in what you are creating yeah in other news. According to do broth go lock, goes booyah from JP Morgan. The stock markets could regain strength and get back to breaking record highs as early as quarter 1 of 2021 it's a year from now.
If the US can get things under control, the stomach churning pace I wish the stock markets are plunging is often hard to look at not for me. People were asking before, and I can. I can answer everyone completely right now. People were asking before. If I have money in these stock markets, no last time I had money in the stock markets was, I think it was nineteen, forty seven somewhere around that time. I had. I had mutual funds years ago. I have liquidated them for crypto, I did um. So I do not have any money in the stock market people. I mainly, I have other investments, but I mainly focus on real estate, art and crypto. I have money, sprinkled other places, but for the most part, this is where I have my focus from the severe oil price war, China, trade war to the now stuff, that's happening. The markets have stood to all hardships, where's, the dens axis and times an ism. However, a chief equity strategist from JP Morgan US told CNBC on Friday that the US could potentially turn the tables on their side if they are able to get things under control according to Locke O's booyah. So if the US can stop what's going geez, I mean it's very difficult to read a lot of articles right now because they make sure that it's littered in in the key word because it's it um it gets clicks. It gets views but it's, very frustrating, because people were asking why I couldn't say it it's, because a lot of videos that have said it have been taken down, because it is estimated that people are using it just for clicks and for views.
So it has to be avoided at all costs. The problem is, is that I is I'm, like tiptoeing I'm walking on eggshells on on on top of thin ice, no matter where I go when I'm trying to get cryptocurrency news because it's the talk of the hour and everyone is very rare to not have it In the title of an article, so everything you see has been hand picked on the same topic, but a different way of phrasing. It because so many things are anyway. I'Ve heard estimates that the current downward momentum of the stock market may not be over, at least for another three to six months. This was kind of the earliest timeframe. There was no two weeks. There was no four weeks. There was barely an eight week time period where things could potentially get better and I think I've seen a lot of the stock market. It won't be out of the woods until a good 2021, which would be substantially ridiculous, not even counting in the fact that people with thin crypto are already bullish on crypto, so imagine situation in nine more months. Stock market keeps going down, but Bitcoin in the crypto mark you continuously take up, people are wan na people are gon na want to get in they're gon na want to have some money then get some gains. Nobody wants to lose. The stock market lost thirty. Seven percent of its value in like two or three weeks.
Imagine what the next six weeks would be like how much more money would be lost. Imagine of Bitcoin, even if Bitcoin only went up by fifteen dollars a day for the next six weeks. People would definitely want to get on that anyway. Music could recover by early 2021. That is a especially with all the other stuff happening this year, it's a lot there's just a lot going on it's, like a like a like a like a bucket of bowling balls. Just hitting us all in the face at once, but like it's like non stop like you, you think you have a chance to catch your breath and just keep smacking you in the face. It'S been a long year and it's only March is is, is it's it's a lot next up in, of course, news tezo's, the 10th largest cryptocurrency by recorded market cap is up over 10 since yesterday and is trading at around a dollar and 66 cents. In the past, Tasos has outperformed many of its crypto counterparts. As recently as the 10th of March, the asset was leading the crypto industry into greener pastures Wow as Bitcoin pushed closer to the 8 thousand dollar mark. However, much like its digital cousins, the currency has been suffering heavily thanks to the current events in the world. At its 2020 peak in February, tezo's was trading for over three dollars and 50 cents and encountered its weakest point on the 17th of March, when the currency fell to the low one dollar 30 range.
Where is the important part? The surge potentially stems from a recent class action, lawsuit Tasos settled over the weekend. The company has been sued by numerous investors, alleging that they were owed compensation after Tasos raised 230 million in an ICO that they say amounted to an unregistered securities sale, which is the one of the most annoying things about the cryptocurrency space is not only do we Have an abundance of coins that we probably don't need is that most people didn't even those people, didn't understand what his security was in 2017 and I'm. Sure people still don't understand it, and we have so many people just trying to not saying that it's not warranted. I don't know the exact clarify classification of exactly what happened during all these lawsuits, but there's. So many people who are trying to sue based on the premise of a you sold me an unregistered security simply because they ended up losing money on any type of thing. That they bought within the cryptocurrency space, it's it's nonsense, you would, you would never buy Tesla or Apple and you lose money from it and then you would sue them you. You know when you buy an asset when you buy something that has a number value, that that number can go up or it can go down, and if you lose money from it it has to be expected. I will repeat this once again until the on to my final days: do not put any money into this market if you are afraid to lose, it do not put any money that is essential for your life, for your family, for your girlfriend for your child.
For your well being into cryptocurrency, if you are afraid to lose it, I saw a couple of people screaming at me in the comment section a day or two ago, one of them was angry that I didn't understand why people were selling off their crypto. He said people are trying to bind necessities. People need necessities in these hard times. If you put any necessity money into crypto, you should not be into crypto. You only put money into the market that you can afford to lose it's not about. I only see green pastures and things look great and amazing, and therefore the crypto market will go up forever if crypto goes to zero tomorrow, if Bitcoin Falls by eighty nine percent over the next four or five weeks, you should be completely okay with that you do Not put any extra money into this market that you cannot lose. The same goes for that person who bought X, RP and lost. I think he lost three hundred and fifty dollars when the price went down and he sued Ripple it's nonsense. If you are tight on money and you cannot handle bitcoins price, even where Bitcoin has gone up right now, bitcoins up a lot if you can't, handle that same reverse in the opposite direction, do not put money into the cryptocurrency space I'm gon na keep saying it Over and over until people stop complaining in the situation like what's happening right now, if you are afraid, if this is, if this is spooking, you in some sort of way and your wallet can't handle it.
This means you probably should not be in cryptocurrency. That is the complete honest truth: it's, not me being a jerk it's me telling you exactly what you need to hear because it's the honest truth, you only put money into the market. This is why I said before. Remember I mentioned months ago. I said if you have extra shoes TVs, an extra car, you don't need anything extra that you do not need that's currently sitting around your house that can be sold to get you some extra cash to push into the market. This is money that you wouldn't have had in the first place. This is money. If this is a TV that was sitting in the room that you did not need, it was, it was not being used in the first place. This is extra money to put into the market, see if that TV had broken. You have to cover at the same exact way as if you lost that money in the cryptocurrency market, it's getting it's getting a bit ridiculous. Now I understand that everybody wants to be rich. I understand that nobody wants to miss the train, but you also can't miss your life. You also have to make sure that the emergency money that you have to eat or to feed your family or your child is also already there. Don'T dip into any extra accounts. Don'T take anything from a savings, just it's, a very risky market. If our market is like one fraction of what the traditional stock market is, and the traditional stock market is very fragile as well and has lost 30 something percent of its value over the course of three weeks, don't assume that there couldn't be some type of event That would also strike the cryptocurrency markets that would also cause it to fall.
Nothing on this planet is 100 resilient it's. Just not that had to be said. I know some people aren't gon na listen, but it is what it is just future. I'M sure I'm sure there are so many girlfriends out there who are like dude come on. I'Ve definitely had a couple of friends. Tell me they. They put some money for like they're from from their girlfriends birthday and stuff like that, and all these other trips that they wanted to take into crypto and it's like just ah. The point is pesos is up because they're trying to settle their lawsuits from nonsensical people. I I assure you, these people assume the moment they put their money into Tasos, that tase would jump to 22 and they'd be able to brag, but the moment you're not able to brag. This is when everyone gets very angry, because everyone has these massive delusions in their heads. At the moment they buy an asset that it's supposed to skyrocket and make them rich um tying slightly adjacently directly into this Canadian software company. Kick his seeking pretrial judgment amid the SE c 's claims that it has failed to provide sufficient evidence in defense of its one hundred million dollar unregistered token sale in 2017, the company previously signaled its intention to fight the SE C's allegation in a jury trial. Besides, raising a two hundred and twenty five million dollar, my goodness legal defense, you know what you can do at a quarter of a billion dollars as a legal defense fund for the lawsuit kick CEO Ted Livingstone, also publicly declared that the firm would fight the SEC.
So they don't have a dollar left. How idiotic can you imagine why why? Why is this so? Why would it be that that important to you, you would go broke fighting the sec as opposed to just being like sure, whatever I don't care on the 20th of March, however, both kick and the SEC filed a memorandum at the District Court for the Southern District Of New York seeking summary judgment and attempting to avoid a full trial, they also claimed that the other party had not provided sufficient evidence for the case. When desk first reported the development on the SEC side, the ADA's he argued that kicks alleged violation of section 5 of the Securities Act which outlaw securities issuance without proper registration is straightforward and easily identified. The defendant has no cognitive, all defense to its allegation. The SE C's memorandum said it doesn't even matter. A lot of the other crypto currencies who launched recently launched, have tried to launched, try to launched or got in trouble with the SEC are just trying to end it now it's such nonsense. The I assume what's, the other one telegram – is probably also gon na try and do the exact same thing within the next couple of weeks. If not months, I don't know the people from telegram. This is just an assumption because the SEC likes to drag things out. If you knew as the SEC in 2017 that this company kick could have possibly been doing something incorrect, you send them a letter, hey it's, not what you're doing come.
Talk to us let's see if we can get everything together, the SEC waited until I think a week before this entire project was about to jump off because they knew beforehand that they could probably sue them and or get money from them. A lot of these the these securities laws are complete nonsense. It has nothing to really do with securities. In my eyes, it has to do with currency control and stopping people from using other currencies that aren't the US dollar, especially on social media platforms, where things can be tracked as easily anyway um yeah. So hopefully this ends relatively soon. I assume this will take a while to end this, maybe even by the end of this year, they'll have signed some type of paper. That has two letters and the second letter is you and the other one starts near the beginning of the alphabet, just to kind of get everything continue to moving forward. The point is yeah everyone's trying to move forward because the sec is a gigantic bother to a large part of the cryptocurrency space, and this will only strengthen the case for more sued anonymous people, creating crypto currencies. The same exact way that grin was created also by someone we don't know because stuff like this happens anyway, moving forward. As always a very special thank you to my patreon supporters hold on, I have to sneeze Crayola Michelle a URL on crypto with Llano Tikaram. Ah choo Aneesa bake me a cake: ARF, medic, 17 Anytime, Fitness monks, corner staff, boaty mcboatface, yes, Krypto, Miller, hitch, test every day, Kyle skips leg day, minting coins, Jeremy Fox Jim, garner, anthony charles nick mangy, olive re access, crib.
Damn bees shit made vlad the impaler Richie Rich 23 Nick Kanaya setsuna Damian make a list one earth one piece: one: love crypto artist, cold, e3d, mail, Luisi, adobo, bankroll network crypto, Joe 4 to the world four to the world. Four to the world wise Nite, Owl Jared Schneider, Brady, Neil's master ventures in Thailand, mohair Maroney, Adam gracyk, Todd mullahs, bare bones: mining, a biblio phobia the animal reader John sarsen, mr. pickle's Nostromo, just Corsica, trongo lolo, songololo, more enjoyer, joshua vineyard, Jasha Harari, a professor Wally From gun what university? Thank you all very, very much for your support. Thank you to everyone who is a supporter of the channel. At the moment, the markets in green and it's in a big green it's, not like a tiny, green it's like a 2 green bitcoin, is currently up by sixteen point. Eight five percent. At the time of me, making this video curium is up by sixteen point. Two percent XRP is a smidge below, or rather up below, it's it it's almost near ten percent. That that's. The point I was trying to make a lot of the market is up. Pesos is up, chain link is up; an arrow is up, is up. You get the point. Um let's see how this unfolds as the day and the week goes on. It is quite nice to see a sea of green. We should have never really been into any type of deep reds within the cryptocurrency space, but alas that's just how the market actually ends up working out, sometimes let's see I'm, not I'm, trying not to hold my breath ray 7000 Bitcoin either today or tomorrow.
I want to see how all of this develops, I will admit: I'm a little peeved. I didn't manage to catch the the 4900 BTC, but it's okay, it's fine, I still buy regardless, but I would have liked a little bit more Satoshi's anyway. Um yeah that's the ridiculous news I'm going to bring you the second video, because I think it is worth talking about. It is actually a little weird what's developing right now. I do hope you all enjoyed. I do hope that you all are having a great day a great morning, a great afternoon a great evening wherever you are wherever you might be on this insane planet hope you're having a great time.