Market Dip Continues... 5 Altcoins I'm Buying!

what's up everyone in this video we're going to be going over the crypto markets we did have another dip so i do want to talk about what coins i'm buying and my thoughts going forward as well as some uh crypto news updates and stuff as well before we get started i do appreciate if you guys like the video subscribe to the channel if you haven't already and hit the bell to be notified for regular crypto videos [Music] all right everyone so the markets aren't looking too great today another dip bitcoin down around six percent 47 000 right now it did dip under 46 000 but quickly recovered upwards ethereum at 3 800 uh pretty crazy bnb down seven percent solana down nearly ten percent pretty much everything here down around uh seven to ten percent uh some cases even more for the small cap all coins especially the projects that have rallied a lot over the last month those are going to be the ones that crash the hardest when the markets do dip so i do have to be careful of that which is why i stress having a good entry and exit strategy uh being so important so uh in this video i'm gonna talk about some of the top coins i'm gonna be buying today uh mostly just looking at top 50 all coins that i am bullish on right now because i do think it's very possible we do dip further since there's a lot of new retail investors in the space a lot of panic so one of the major aspects of my entry strategy is to buy on every major dip like this i do dollar cost to average even in the bull market i have been doing this throughout the entire bear market which is where you're going to get your best deals of course you do have to stick around when the bear market does come so if you are new to the crypto space just understand that's where you're going to be getting your best deals when everyone is uh afraid that cryptocurrency is just going to die out so of course that's extremely high risk but with extremely high risk comes extremely high reward on the projects that you did do pick correctly so lots of different all coins here i'm still very bullish on that haven't really rallied during this bull market yet that are big projects that i believe in for the long term i will be covering some of these in this video and some reasons why i do want to talk about some news as well and uh discuss the markets in general so crypto uh fear and greed index right now at 28 i do think this is uh gonna be uh dropping further since we did dip again last week was in extreme fear uh but current prices i do think we should be lower than uh where we currently are in the fear and greed index so lots of fear in the markets in general right now uh something else here is the s p 500 uh did recover and basically is back to previous all-time highs uh while bitcoin is uh pretty uh down from its previous all-time high around 69 000 so uh this market is much easier for uh people to manipulate and we have to keep in mind with so much mass adoption on the horizon there's going to be a lot of people that do want lower entries before things really start taking off in the space before visa mastercard and all these other major platforms really start rolling out their services and crypto becomes more accessible it's going to be too late at that point so i think earlier this year when bitcoin hit all-time highs and then had that major market correction everyone thought the bull market was over but we uh ended up breaking out of that accumulation phase continuing upwards breaking previous all-time highs now in a current dip that i do think is very healthy and i do think things are still extremely bullish with so much mass adoption and so many companies getting involved if you're selling at this point uh you're most likely playing into that bear trap and uh giving uh these companies and everyone at that low entry that they want so i do think that was big manipulation at play here spreading fear at the peak of a bull market like this when the most retail investors are involved is the easiest time to manipulate the markets because everyone that's new to crypto they're not used to the flow of the markets like i stated and they're most likely going to play into their emotions and sell um when the market is down like this around 30 000 bitcoin and give the manipulators that low entry that they do want so uh we did have a major run up here with no major correction now going forward here we have had a couple uh healthier corrections here that are bigger i think we are in a steady uptrend upwards that is healthy we have to keep in mind there's major market corrections uh during a bull market here and uh for context 2017 here from plan b 38 across the board lots of major dips that we did have uh big corrections so this is uh normal and it is healthy as you move upwards people are going to take profit especially as fear comes into uh to play people are playing it safe taking profits off the table which is not a bad idea that's part of my exit strategy is to take profits on the way up and if you do that every time you're at a peak you can even buy back in when it has that correction but uh having those reserves ready for the market dips and then uh most importantly having a huge reserve ready for the bear market is where you're gonna make your best trades uh for the very long term so uh for cryptos i look to hold for the long term um i do like to look for projects uh that i believe in that are doing something uh groundbreaking in the crypto nft space that are going to be very useful down the line and continue building and becoming more relevant and uh picking up more mass adoption these type of projects are hard to find especially because there's so many uh promises out there that these projects will just never uh fulfill so uh for me personally of course bitcoin and ethereum are gonna be the safest cryptos in the space uh to be holding i'm more bullish on ethereum than i am on bitcoin especially with how much ethereum is being burned on a daily basis bnb um i do hold a decent amount of this but i have been taking profits on it picking up some other stuff i'm more bullish on as you guys know very bullish on cardano for the long term i'm just uh staking that for five percent per year and uh waiting for that supply shock to come once there's decentralized exchanges and once everything really gets flowing with this so um i do think there will be a supply shock to ada just like there was for bmb when bnb was only around 50 dollars when uh the bina smart chain launched and pancake swap we had a supply shock because so many new projects were launching on the binance smart chain for the lower gas fees very easy to set up and uh different benefits to that uh they all needed b and b for liquidity on the pancake swap so all of these projects having to buy b b taking it out of circulation uh for liquidity did cause a supply shock sending this up 10x where it has held so uh once something similar happens to 80 like that i think that's when we're gonna break a ten dollar ada and i do think uh that's very possible uh in early quarter one from how things are looking sunday swap is getting very close uh they just did their test net i'm also uh bullish on solana that's one of the ones i'm going to be picking up during this dip i never really got a chance to buy too much of that when it was down so that is one i am buying anytime it does have a major dip so at the top here what i'm buying uh since i have enough ethereum and bitcoin and bmb um i am going to be picking up solana cardano ada also um i would be picking up avalanche but i got so much of that at the lower entry uh it's just gone up so much that i'm not going to be picking that up uh but besides that i will be picking up more chain link definitely a project that is has very high potential uh pretty much the crypto that gets the most partnerships in the entire space it's going to be very useful in the metaverse as well as you guys know companies going uh all in on the metaverse and nfts lately uh besides that um out of all the gaming coins decentraland axe infinity and sandbox um out of these three i would be buying sandbox but like i said i picked so much of that up um at the lower uh fees when it was under 50 cents and i had such a major run up that i am worried here that uh buying it right now there could be even further correction even though it has had a major correction it peaked out over eight dollars currently around five dollars uh could be a good entry here similar to what we saw back here but um the game isn't public yet and i think uh there's gonna be some great opportunities to get in sandbox sand token and going forward and for the long term this is one of my top picks in the entire space i do think it's going to be a top 10 cryptocurrency which is why i have my eye on it i wish i bought more on my last purchase i actually bought around 23 cents here end of june so the sandbox is definitely one of my top picks in the entire crypto space but i'm not buying it during this current dip because like i said it had a huge rally recently and it could correct further but going forward big dips of uh 15 to 30 percent i will be buying sand every chance i get and uh like i said i do think it will be a top 10 cryptocurrency when the game is live and it is going mainstream with millions of users i think that will happen sometime in mid to end 2022. so uh besides that what i'm looking to buy during this current dip is the projects that haven't really rallied yet but have very high long-term potential and like i said chain link is one of those top picks um i will be buying some ada and solana like i said uh besides that i will be buying more eos i did buy this during the last dip as well so uh there's some controversy behind this project but uh there actually is big things happening behind the scenes and i will be talking more about that in a separate video going over those details but the bullish exchange that the company behind eos is working on is very close to being live to the public it's currently live to institutional investors and the volume there has been doubling pretty much every other day so very high potential with this uh it's a mix between centralized and decentralized exchanges so uh you can't provide liquidity here earning passive income uh for various uh cryptocurrencies so i will be doing that with my eos and uh some other cryptocurrencies they have 10 billion dollars of bitcoin and eos and liquidity for this exchange which is just insanely massive huge investors behind this so the bullish exchange is going to be using the eos blockchain to log every single transaction since it does have decentralized exchange aspects to it so similarly uh uniswap every single transaction is logged on the ethereum blockchain so it will be very interesting if the eos blockchain is as powerful as they say this will definitely be very bullish for the eos token because it will um get a lot of developers noticing this and a lot of new developers building on the eos blockchain which is very bullish as well and i do think they're holding back on marketing uh for uh eos and uh the blockchain and everything until this bullish exchange is going live there's also some other controversy and recent news that uh has panicked some people about eos the community ramps up battle for organization control against former developer block one so i will talk more about that they did come out to a solution for this that i will talk about in that eos video i am working on putting that together so chain link a couple things here that happened for that recently former google ceo is now a strategic advisor for chain link labs pretty huge when you actually think about that and uh something else very bullish here chain link on boards an average of 1.4 new partners each day in 2021 when you actually think about this chain link is probably uh the project onboarding the most new uh partners in the entire crypto space uh the chain link oracle is gonna be very useful in the metaverse as well so lots of utility will be coming out of this project i don't know how it's as undervalued as it is right now the link token uh this actually was one of the best performers in the bull market or the bear market so um i do think this one is quite undervalued which is why i'm gonna be uh taking this opportunity to buy this dip and as we can see uh in may it actually peaked out um over 50 dollars very temporarily bottomed out here uh under 15 uh which we're not too far off from that at this point so this does have over 2x potential just returning uh to previous all-time highs which uh with everything they're building i think it's very likely in the long term so something else very important i do want to talk about is taking a loss on all coins before the tax year is over i'll be doing a separate video on this and uh why i'm gonna be selling a lot of all coins at a loss to offset some of my capital gains saving you some money on your taxes by doing this you can also jump into other um cryptocurrencies you think have higher potential so uh this is a great time to be doing this since the year is almost over i'm going to be taking losses on quite a few cryptocurrencies that could be another reason why uh the markets are dipping right now people um just selling cryptocurrencies before the tax year is over so uh still very bullish on the crypto space and mass adoption something else i do think that's going to be happening going into the future is uh we're going to be having much shorter bear markets of two to six months at a time and then as mass adoption kicks in and all these major things are happening uh we will have uh both phases as well so um i do think going forward things are gonna be much different comparing the markets to previous cycles i really think isn't gonna play out uh well for people i really don't think we're gonna be entering an extended bear market like this uh like we saw from beginning 2018 uh to uh end of 2020 so a great post here i do want to show you guys uh before i end the video internet may be just a passing fad as millions give up on it so when the internet was just getting started of course uh websites and platforms were not nearly as developed now we have pretty much every major company has a huge presence on the internet and this is only growing at a rapid pace and everyone has their internet in their pocket now which is just insane when you think about that compared to the 90s when we had this big clunky computer and i was hard to use with dial up and everything cryptocurrencies are gonna improve just like that so imagine five to ten years down the line how much more cryptos are going to be improved and how much more accessible and uh faster and cheaper fees they're going to have as well so these things take time to develop we have to understand that but for the long term uh me personally this is where um i am dollar cost averaging and where my focus is in crypto and nfts quick update on the journey club before i end the video as well uh we still have a couple thousand people that haven't claimed their po app i highly recommend that it's completely free to claim it there's no gas fee if you do want to transfer it to the ether main net you do have to pay an ether gas fee but that's not necessary so i do recommend that i'll drop a link in the video description and there's going to be at least one poep per quarter that's going to be randomly dropped for the diamond hands all of these polaps will add up to something in the future very important so i do recommend claiming that if you haven't already and uh you can list these on uh the po app openc collection as well so uh besides that i've seen quite a few people that haven't gotten the discord yet i do recommend that and uh getting verified if you do hold a journey nft this will give you uh private access to the clubhouse updates and all the clubhouse uh chat groups as well we do have a lot of stuff in the works here separate nft chat groups for many different projects we're talking about uh the community is very active and uh this is where i'm dropping pretty much daily announcements on everything happening here as you guys can see the last announcement that was posted so another huge benefit to holding a journey nft is getting access to the private's weekly nft update videos i just posted the first one here and this will be uh posted on the web3 website once that done but right now it's just password protected so uh these uh videos are gonna be going over the nft markets all the new projects that launched in the previous week all the uh nft projects coming up that i think are interesting what we're doing with the community wallets big updates on the journey nft and everything so if you guys do want to access that uh just make sure uh you have the journey nft you get verified in the discord and then you'll get instant access to all of these channels and uh the clubhouse chat groups as well so that's it for this video thank you guys so much for watching i will be buying the dip today with the all coins i mentioned i am a little bit worried about the small cap all coins in case this keeps dipping further but that's why you should have a good entry strategy never use up all of your reserves all in one go because as you guys know the dip can't keep on dipping especially during a phase like this where there's so many new retail investors as soon as they get panicked a lot of them will dump so very possible we do dip further before things really start looking up but overall i'm not worried i'm just accumulating for the very long term that's your best bet in the crypto space so you should definitely take the time to sit down and write out that entry and exit strategy and uh know your long term goals here and like i said in a tweet recently if you're jumping into the markets just expecting to make some quick money that you're gonna flip to buy a lamborghini or a house or something you're most likely gonna be the one that's losing money uh whereas the people that have that long-term strategy and uh know how to enter and exit at the right times they're gonna be the ones that are very successful so that's it for this video i do have quite a few other videos coming up that eos video uh video talking about selling small cap all coins and taking that loss for tax reasons as well as uh quite a few other things that i do have planned out so again thank you guys so much for watching and i'll see you guys in the next video you

Channel: JRNY Crypto

Views: 132,163

Keywords: bitcoin, cryptocurrency, crypto, altcoin, blockchain, decentralized, crypto news, investing, ripple xrp, ethereum, tezos, eos, monero, stellar XLM, Binance, Cardano, Litecoin, crypto 2020, bull run, tron, tether, money, shopify, tone vays, ivan on tech, chico crypto, the modern investor, digital asset investor, crypto zombie, stock market, make money online, hidden gem, altcoin daily, Justin Sun, Satoshi Nakamoto

Id: ebE0p6n0mYM

Length: 17min 41sec (1061 seconds)

Published: Mon Dec 13 2021