Crypto Crashing by the Hour 😯

Crypto markets are crashing literally by the hour. In fact, in the last hour I saw, Bitcoin had gone down 1.73% in an hour, 6.44% in a day. Ethereum is down 2.93% in the last 24 hours. Bitcoin's price has gone below $25,000, $23,000. It's approaching $20,000. It was more than 3 times that at peak. So the market— this is one of the biggest market crashes that's been seen in maybe years or maybe decades. It is wild. Now, because of this, some of the big platforms like Coinbase, for example, they're downsizing their staff. So, um, Brian Armstrong, who's the co-founder of Coinbase, which is a crypto authority, he has said that they are reducing the size of their team by 18%. Uh, economic conditions are changing rapidly. Managing our costs is critical in down markets. We grew too quickly. BlockFi, they are reducing their headcount by 20%, reducing market spend, eliminating non-critical vendors, reducing executive compensation for the, the founders and the other execs, slowing their headcount. Down. So wow, this is madness. Um, the market cap of crypto is now less than a trillion. It was 3 trillion, you know, not, not many months ago. So first off, what are your thoughts on this? Um, people have been saying, um, that surely it's got to bounce back, but it just keeps going down and down. Whereas other people believe that, um, it's got more to drop, and people are predicting like Bitcoin might go as low as $10,000 a coin. Now, um, Runara said in here, be fearful when others are greedy and greedy when others are fearful. Jaya said buy, buy, buy. Davis said buy, buy, buy, buy in the dip. Right, I'm not giving financial advice, just so you know. I'm just telling you what's going on. But you don't see markets drop 1.73% an hour, 6.44% a day, which crypto has. Ethereum's like $1,000, $1,200 now, really far down. Um, Bitcoin's all-time high was $68,780. Now it is $22,000 and a bit. So look, I'm not giving any advice. You can all share what you think in the comments though. By the way, Dean, this isn't fear, this is just reality. This is absolute reality of what has happened. Some people say, oh, Rob's a bit of a doom monger. No, I'm a truth monger. Now, um, some things to think about. Number 1 is don't put all your fucking money in Bitcoin and crypto. Like, people have been chucking all their money— I don't like fiat currency. Fiat currency is dead. Get it decentralized out of the system. You should not be all in on Bitcoin, in my humble opinion. And if you were, uh, you've gone down from $68,000 to $22,000. That's a two-thirds drop. Um, only invest risk capital you can afford to lose, um, because two-thirds of the value have dropped. That being said, you only lose when you sell. And someone did say, be greedy when others are fearful and fearful when others are greedy. Well, for sure, if you bought in thinking that Bitcoin or Ethereum or whatever cryptos you bought into were a good long-term play, then actually none of this should even matter. None of it should matter because you should just hold on for dear life. Now, if you're going to go in, I recommend pound or dollar cost averaging. Pound or dollar cost averaging means— okay, so you see now it's gone down to $22,000 and a bit. And you've got money to invest, instead of putting it all in now, put 20% in now, 20% next week or next month, 20% next week or next month, 20% the week or the month after that. Um, and that's called pound cost averaging, and it's a bit of a safer way. Now look, I've made a lot of investments in my life, and I haven't sold many of them, but I've sold some, and normally I regret selling. I only sold a couple of properties, regret that. I probably sold them for £100,000, they're probably worth £300,000 now. I sold some Patek Philippe Nautiluses, some Rolex Daytonas. I really regret selling that. And I actually sold some Bitcoin when lockdown happened, and, you know, it's since gone up even though it's come down. So I like to think, if I'm going to invest in an asset class, try and think really long term and maybe think of staying in it forever. I think that would be a wise move. Now, the thing with Bitcoin and cryptos that a lot of people don't talk about is this: not an income-producing asset. It is a capital asset. Doesn't produce income. It only produces income when you sell. And of course, if you sell at a loss, it doesn't produce an income. And people say to me, oh yeah, but you know, I do staking and I leverage up on some cryptos and I do farming and mining. You know, that's a speculative business investment, not a fundamental long-term asset. In my opinion, in my opinion. So, um, let me know what you think about the markets in crypto and Bitcoin and Ethereum, etc. Breaking news is that, like, they're crashing by the hour. Bitcoin went down 1.73% in an hour, 6.4% in a day. It's sub-$23,000. It was $68,000 at peak. Ethereum is way down. Um, it's $1,200. It's down 3% in the last 24 hours. Um, yeah, yeah, some people call it the halving cycle. Um, some people believe it will bounce back. Some people, it will go to— believe it will go to $10,000. Everyone's really speculating, aren't they? They don't really know. But some things I say are, number one, if you're going to invest in something, invest with money you can afford to lose. Number one. Number two is that Bitcoin isn't an income-producing asset, it's a store of value. It's capital, not income. Same with most other cryptos. When a lot of people say, oh yeah, I make income from crypto through staking and farming and blah blah blah, be careful of leverage and careful of the speculative nature of it. If you're going to invest in something, then why don't you invest for the long term? Um, and of course it's more volatile, and also it seems to be tracking the stock market more closely than it used to, which a lot of the purists don't like. Obviously because, um, it's the fear that's pulling it down. So let me know what you think in the comments. Hit the share button because obviously this is big news. Um, if for what it's worth, um, I probably will pound cost average, putting a relatively for me small amount of money in drip fed over, um, the weeks and months. If I put any money into crypto, I expect it to go to zero and anything, um, upward is a bonus. That's just my thoughts. Let me know what you think in the comments. Also, if you'd like a bit of help, by the way, on, you know, maybe getting some of your costs down or starting or scaling a business, maybe you'd like to get some digital downloads, some course event speeches from me on better financial education and knowledge. I've got some free gifts for you if you just write toolkit in the comments. So if you just write toolkit right now in the comments, I actually wrote a deep dive article for mainstream media in the UK, um, on up to 30 ways to save up to half your salary in a cost of living crisis. And if you write toolkit, you can get access to that as a gift from me for free. I've also done two 90-minute speeches. One is on creating digital assets and another one is on creating multiple streams of recurring income. If you write toolkit in in the chat, you can also gain access to those two keynote speeches. There's about 2 or 3 other documents that I've collated together in a pack which I'm calling my financial toolkit. I'm giving it away for you as a gift to help as many people on this planet get better financial education in this cost of living crisis, to help them invest wisely and to manage their money well. Just write toolkit in the chat. I'll make sure I reply to you, share the link with you. It is for free, by the way. Um, there's no selling or anything like that. I'll even send you a resources email once a week. I just sent mine today, actually. If you're in quick enough, you might be able to get it, where I add in new financial resources like episodes to my money podcast or updates to my money books or my, um, the content I do on my daily money tips, for example. It's all, um, if you just write toolkit in the comments. So quick summary is Bitcoin seems to be crashing by the hour. Down 6.44% in a 24-hour period and 1.73% in, um, an hour, as is Ethereum. You know, a lot of the platforms like Coinbase and BlockFi, they're reducing their headcount by 20%, um, and you know, they're obviously feeling the squeeze big time. What are your thoughts on this, by the way? Um, Bitcoin is— sorry, um, crypto market is now below $1 trillion market capitalization. Um, Celsius paused the withdrawals, didn't it? Uh, what are your thoughts? Um, do you think this is a temporary blip and actually it's a buying opportunity? Do you think it's going to go down and down and down and down? Do you agree with me to pound or dollar cost average and buy, um, not all in but in stages to, to protect yourself from buying in and then it crashing further? And what is the future of the crypto and the Bitcoin markets? I would love your thoughts in the comments because it's all kicking off. Thanks for tuning in. Just a quick one. Hit the share button because you need to get this message out because a lot of people need to know this stuff. And remember this: if you don't risk anything, you risk everything. Just write toolkit in the chat and I'll give you a load of financial resources, about 7 of them— saving money, making money, creating digital assets, online income streams, etc.— to give you better financial education and knowledge and not just survive but thrive in this cost of living crisis and these crazy crashing markets. Bonkers. Not seen anything like this for, well, the last 2 and a half years. Not seen anything like it since I've been alive. It does create opportunity though, a lot of opportunity. Interesting. Let me know in the comments what you think the opportunities are. I'm not a crypto hater, I'm just a lover of people getting better financial education and knowledge. And you know, it's a lot of dumb money in crypto, there's a lot of smart money in crypto too, um, but you know, you, you gotta learn earn, invest. Thanks for tuning in, right? Talk it in the chat for all the gifts. Hit the share button. And remember, if you don't risk anything, you risk everything.