Recap Of Weekly Crypto & Stock Market Update – 22 Jan 2023

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Ralph Chua is a publisher. He is passionate about NFTs and blockchain technology. This website is curated with content from his favorite source of information. He created this website with the intention to stay up to date with the ever-evolving and groundbreaking NFT industry.

All righty So we had an incredible day on openc Yesterday 20 million dollars on openc Alone mostly because of sewer pass Something interesting with sewer pass it Is only tradable on Open Sea they've Blocked any non-royalty Marketplace like Blur Um looks Um from being able to trade it and there Is where most of that volume is coming From so you see yesterday 19 million Um and today already and we're halfway Through the day about nine and a half Million mostly related to that sewer Pass so it shows you you guys still got It in them to move the market then if we Have a look over here open C again You're seeing from right now in the last 24 hours 17.9 million blur 6 million Very interesting blurs push back their Airdrop to the 14th of February Easy Day To Remember Valentine's date was Supposed to be in January we've got 5 Million on x2y to 3 million are magic Eden Master sees that volume has come Back to Solana we've got 1.6 million on Luxury and so on if you add that all Together we get to over 30 million so Things are looking better than they were In the nft space if we just have a look Here at the NASDAQ S P 500 we've had a Really green day today we had a red day Yesterday and a red day the day before

On Wednesday but Monday and Tuesday were Very green and the whole of last week Was very green so stocks are looking Pretty good again that's for now I mean You know you've got two different Thoughts here and I've spoken to some Really Um big local fund managers Um and some of them think that a crash Is incoming in the next 12 months a big Crash 20 to 30 percent down and others Are saying that we've seen the bottom And and it's going to stay where it is a Bit of fluctuation volatile but they Don't see a massive a crash on the Horizon the big thing to look out for is The r word recession if America Officially declares a recession that is Going to be a catalyst and that will be A good time to pick up a lot of crypto a Lot of stocks a lot of nfts not Financial advice but that's what we're Looking out for and if it is a soft Landing like they're saying it might be Then we will probably see it Um not go much lower than what we've Seen so all really depends remember the Global is still the global we've still Got the war with Russia we've still got China and Taiwan doing their thing we've Still got energy problems yes uh in Europe yes um China has reopened but That could close in a moment they could Change their mind so hard to see but

What is looking absolutely incredible Despite it all is um cryptocurrencies Cryptocurrencies are valid absolutely Incredible seven days we've got eth Sitting at about one thousand six Hundred dollars just under Bitcoin at Twenty one thousand four hundred dollars We've got Solana at 23 you could have Picked up Solana at 11 two weeks ago We've got ape coin over five and so the Crypto Market despite this Genesis news Is actually looking really really Positive which is great to see So why is crypto banking a pumping Because why is crypto pumping So we have a look here and we're saying All right We've got this risky asset we've got a High risk environment why do we think Crypto is pumping so there's a theory That goes that when you are losing money Let's say you bought Bitcoin at 25 000 And now it's sitting at fifteen thousand Dollars you don't wanna buy more even Though you should but it's kind of if You really believe in it you should one Should right not Financial advice but if You're a Bitcoin Maxi and you bought in A 25 000 or even stocks if you really Believe in Google and you brought in at X and it's now half that price that's Double the opportunity to buy in right But that's not how the human mind works Especially after a year literally over

365 days of down people start to get Scared I'm going to lose all that I've Invested and they definitely not going To invest more some of them put out at a Loss others keep money in and wait for It to get to where they paid now the Interesting thing with Bitcoin is that 19 is that inflection nineteen thousand Dollars is that inflection points if you Look at the average price that all the Holders have paid that is nineteen Thousand dollars so once we get over Nineteen thousand and a bit of change a Bit more than nineteen thousand dollars More holders are in green than in red And then they start to think wow this Might go to 60 70 80 000 like I did Before and they're comfortable to buy in A game because they're not in a loss Situation and the other interesting Thing with Bitcoin specifically is that Only Um 15 10 to 15 of the supply is actually In trade meaning the rest of people have Got it locked away and have never traded It so so it really is a diamond handed Asset and we've hit that inflection Point of 19 whatever and stayed above it And closed above it that people are now Looking like they in that profit and Feeling like they're in the profit and Ready to investigate so that's one Interesting view on it Bro I bet I bought some I think I've

Bought some nfts even like I've Definitely felt the uh like I know if I Felt the need to buy jpegs again then There are divisions out there flipping Jpegs all night long all over again Abandoned all thoughts of taking profits Once again Abandon All thoughts of Proper trading like you like everyone Said they're gonna do in practice in the Bear Market if we even got a relief pump Everyone would take profits it seems That everyone's over allocated over Leveraged again and uh buying jpegs I'm Down for it though I'm down for it high Risk baby Yeah look I'm still very selective at This point Um I'm not buying in too much at this Point of time Um but I'm definitely I'm definitely Watching it for entries I'm I'm Personally and this is just me I'm Personally of the mindset that we've got We've got a leg down to go on everything On on on stocks on crypto on nft the Question you could ask me I I you know I You know I've got a very strong International stock portfolio am I Selling my stocks now no so if you miss The first the 10 best days on the on the Stock exchange you miss 90 of the gains And you don't know when those 10 best Days are so I've been advised by very Good advisors to stay put so I'm not I'm

Not selling but I'm also not buying at This point in time because I do believe There's a leg down and I feel the same With crypto as well now I could be Completely wrong this could be the Bottom and we could just fly from yeah No one knows but from my perspective I'm I'm holding out on any big purchases Across the board so I'm keeping anything Extra in liquid in cash and um yeah at a Time where I can confirm that okay we up Only even if it's 10 15 more expensive Than it is now We could still be in the sideways action For the next year or two years you know So I'm holding cash I'm not investing I'm not selling but I'm not buying at The moment Probably a smart place to be probably a Smart place to be also do you see a Crypto dream just send me a link a few Minutes ago on Twitter right before the Stream started apparently SBX stand back With Freed's parents have been uh at Risk of like a security situation did You hear about that Uh Dylan can we keep it for the FTX Segment because we are yeah we talked About we do so we're going to talk about Uh fgx Resurgence and then please remind Me let's bring it up over there that the Other thing that we are seeing is that Um uh big money is starting to come in To crypto at the moment right

Um which is really interesting so we you Know it's anyone's game but look we are Due for for it to come up it's been the Longest bear Market in crypto since in Crypto's entire history so it's a very Interesting point to be in right now Because if we can hold these levels Um and then we'll establish this level As resistance right and if we drop past These levels we're going to struggle to Break the ceiling so the next week I Think next week we'll have a better idea Of the sort of short to medium term Trajectory right now it's just gone on a Massive massive rip and I do imagine a Slap pullback is in order but again it's Just all speculation from us Yeah yeah yeah pretty much would love to Know if people in the squad in the YouTube chat what they're doing are they Buying are they selling are they just Chilling I feel like a lot of people Even got out of the market and just it's Like sometimes it's hard to get back in Like no matter what happens you're like Unless we're like confirmed Bull Run Bitcoin and 50k again A lot of people Are seeing the sidelines uh I still Believe that like once we hit you know If we if we hit a bull run of worth it Like three four weeks And it's really really good in showing No signs of slowing down the people People will jump back in and I'm just

Looking forward to that when we have Volume back and people are trading all Over again and all the people who are Like we're never we're gonna see it Again I'm like Clowns so it's really interesting Because it really depends on and I'm Talking broadly here like stocks crypto And nfts it depends where you whether You are short-term or long-term focused If you're thinking about the next five To ten years now's a good time to buy Everything across the board not Financial advice but good time to buy Stocks you know they're not the absolute Bottom but they're close enough good Like good stocks good times about crypto Again not the absolute bottom but close Enough and good time to buy blue chip Nfts Um Park your money in there you're happy To have it sitting there for three to Five years and if as long as they're Good companies and projects I think you Will do well if you're gonna need that Liquidity or you're trying to short-term Trade that's a different story so I Think there has to be that understanding The other thing is that we do know that When crypto is ripping so not stable so Like in the last week and a half it's Gone from 1 300 to 1 600. that means It's not stable nft prices get jittery But because God starts to think wow this

Is even though it's still the same floor Price it's now 30 more from a youth Perspective and they start selling so That so the best environment for trading Nfts is when ethereum is stable so like It was when it was sitting at 1300 for The last month and we did see that mini Bull market that's the prime condition Now when it's like this people don't Know it's going up and down they're Scared so it's very interesting it's an Interesting Dynamic to be in Um but yeah it does depend whether You're short medium or long term focused True

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