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good morning afternoon or evening guys welcome back for another YouTube video all in crypto here and this is going to be your daily cryptocurrency market update we have got some really exciting things to get into the price action is very lackluster it is the holidays you know we're taking a bit of time off trading over this time period ready to get back into it in January um but I want to make a bit more of a cheery video with very sort of Doom and Gloom on the price um or the prices of cryptocurrencies um and that has a lot to do with you know the cross market analysis that we're seeing and the fact that we think that you know we're in trouble in terms of an economy globally um there's a lot of unprecedented things happening that all point to further um destruction across all assets gold the stock market the crypto Market you know the same pool of liquidity is being really punished by what the federal banks around the world are doing um or I should say the central banks but I want this to be a bit more of a cheery video because for many of you this may be your first ball in now bear Market that you've gone through and this is the second one for me um and I'm sure many of you are feeling similar to how I felt back in 2018 when the prices continue to go lower it seemed like there was no hope and in actual fact um it was then that I really cemented my um opinion on the crypto space because the more due diligence that I did the more looking at this space and what it was trying to do looking at this technology and what it brought that I did um the more bullish I became and the more of a actual I don't want to call it a faith but a belief that this technology was going to change the world I had and I'm here to tell you today ladies and gentlemen it is the exact same situation playing out the cryptocurrency market will recover it's going through teething problems all new assets go through teething problems I'm going to do a video later on tonight so watch out for that talking about the correlations between the.com boom and the cryptocurrency market we've covered this since I started the channel but I actually thought this might have been the.com boom when actually it looks more like this was which means that if it's to play out in that kind of a fashion there's more demand destruction coming um but I want to play you a clip from Larry Fink now for those of you who aren't familiar with Larry Fink you should be he's the largest asset manager in the world he of course is the asset manager of BlackRock um and there's a there's a this is going to take me a couple of videos to get and digest everything he's set out here because he talks about governance governance is a huge part of crypto that people don't quite grasp yet still such a new technology but he talks about in this clip we're going to play at the tokenization of everything and this is what's coming ladies and gentlemen for the world the the the blockchain um distributed Ledger technology as they you know like to call it or um is going to change the world it is already changing the world and that is only going to get more aggressive and aggressive and aggressive just like how me and you are sat on the internet right now looking at a computer screen we've got a mobile phone in our pocket we drive a car to work these are all technological revolutions blockchain is going to be the technology that runs tomorrow's Financial system probably accounting system you know it's going to play such a big role in fact when was the last technology that we had that has only really been about since 2008 but is already being adopted by central banks around the world in the form of cbdc's guys I'm telling you many cryptos will not survive this bear Market but the ones that do will be the Amazons of tomorrow will be the apples of Tomorrow the Microsoft the alphabets you gotta stick with it guys and I don't want anybody to lose hope and actually it's um what's the time at the moment it's 11 um a.m in the morning for me I have no obligations to do anything in fact I don't have to do anything today if I don't want to and that's because of the Investments that I made in the decisions I made back in the bear Market where nobody else wanted to um that have now afforded me a level of Financial Freedom that I didn't have back there and I think the same opportunity is going to repeat but even bigger for those of you that take advantage of the bottom of this Market when it comes so let's go ahead and play this clip and then we'll talk about what he's saying I've got a little bit more news um Summit Manfred of course has or is getting deported he looks rather like Escobar here um and it's came out I think that Caroline um actually has pled guilty to fraud so it's not looking good and it does seem that actual fraud was what happened here and that's why FTX failed which is why we've actually came out and defended binance and said no no no no this is you two of a different kind you know this is not the same um thing taking place so let's go ahead and play this clip and then we'll talk about it the entire bond market is being transformed as we talk right now I believe the Next Generation for markets the Next Generation for Securities will be will be tokenization of securities um we will and if we could have that distributed Ledger that we know every beneficial owner every beneficial seller we all have our our code of who's buying who's selling instantaneous settlement and think about it changes the whole ecosystem you don't need Trust Banks but does that disrupt you eventually because you are custodian all this we don't no we're not a custodian we're not that we don't just we use third-party custodians in everything we do in everything you do we don't let me go ahead and play what what what what he he just said again um because it's extremely important what he just said because this is the way of the world you know this is the way that things are now going I had a we do uh Community discussions in my patreon and we we the the topic was Finance but we ventured off into regulations you know what it would mean what what would it mean if cryptocurrency the currency uh cryptocurrency has got labeled securities would it be the end of them I don't think it would I think actually in some ways it would give them more legitimacy um even though perhaps unfairly they they would be labeled the Securities but are they Commodities you know there's this whole debate going on but let's play what Larry Fink said again and then we'll wrap this video up the Next Generation for Securities will be will be tokenization of securities um we will and if we could have that distributed Ledger that we know every beneficial owner every beneficial seller we all have our our code of who's buying who's selling instantaneous settlement and think about it changes the whole ecosystem you don't need Trust Banks but does that disrupt you so what he's saying there is he thinks everything is going to be ran on the blockchain remember Wells Fargo did that that um article that report talking about um you know we've had the internet of information this is now the internet value this is how everything is going to transact around the world this is my belief that of what's coming for this technology guys and I've never been more adamant despite the price action and we we this is why we do daily videos for you guys talking about the price action because the price actions and the answers to why it's doing what it's doing lies elsewhere it lies with monetary policy it lies with the kind of macro economic landscape this is something and and we weren't the first to talk about the macro but we can't answer it a lot sooner than than others and we've saved a hell of a lot of money for it and have done very well in terms of uh crypto portfolios but this is what's coming guys and when he's talking about it's gonna the security industry and we're talking about you know Securities like stocks etc etc is going to be tokenized you are talking about trillions one company at one point I think Apple did Apple reach three trillion dollars at its height the entire space of the entire market cap of the cryptocurrency at the peak of its bull market you're talking about hundreds of trillions being onboarded and ran through the blockchain you're perhaps talking about hundreds of hundreds of trillions when we talk about the FX market and the cbdc market and if you can pick the cryptocurrencies that are going to play a role in that I'll give you one right now that we spoke about chaining foreign the ones that are going to do well you are gonna be the beneficiary of Tomorrow's World which I think is going to be a world that's ran largely on the blockchain and you've got the largest asset manager right here telling you that so even though yes we have doubts in regards to the fact or not doubts we have um we do have doubts about certain cryptos but we have um ultimately um a very good suspicion that things go a lot lower um because of everything going on that doesn't mean that we're not a believer in the crypto space or blockchain I've never been more of a Believer we just understand as Traders as investors what the price is doing you know I am on a journey to become a uh I don't use a word professional Trader because how do you monitor what suppressional trade or what's not but but but a Trader um for a live it you know which we have kind of been in the in the forms of Investments and trading those Investments but in terms of you know really my goal is to become a market analyzer and we're on that journey and we've done a good job of it so far but that is separate from fundamentally what's going on here and what's fundamentally going on here is you are changing the world through a technology that you know has an unsure origin I've got my own conspiracies um but it's magical and you guys need to remember that and it's a magical time of year being uh with Christmas around the corner um I don't want people to lose heart I hope and get disheartened um and if you ever feel like that leave me a comment and I'll get back to you um you know it's not investing isn't simple uh-huh and um it's hard it's frustrating when you get it wrong it's painful but when you get it right all those wrongs are um worth it um and and I can vouch for that and I can tell you that if you stick with this what's going on here this industry there's going to be opportunities like you will probably never ever see again in your lifetime um coming your way and that's all I've got for you in this video guys just a quick one looks like Sam Mountain freed is finally being um extra writer to the US Alameda Caroline at least on FTX says Gary Wang great name I wish my second name was Wang um plead guilty to be OJ fraud charges also settle within uh with the SEC and CNF uh CF TC FTX Batman freed was charged and arrested last week we know about this but it looks like they are now going to end up in the slammer so that's all I've got for you guys don't lose hope out there market action's so boring we're not even going to trade it not really much to say uh let's just wait for we've given you all this you know we called for the rally from here up here we said okay it's over now I do think it is over and it's going to continue down um but that we can cover in another video if um you guys want to um all I've got for you guys hopefully you've all had a great week and you're looking forward to Christmas see you in the next one guys
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