The Coming Next Great Depression | Banks Are Collapsing Again 😳

This past week we got confirmation on The market about even more Banks Collapsing combine that with the fact That on one hand we have Bulls shouting That Bitcoin is going to hit 40 000 soon While on the other hand we have new Reports talking about how this recession Is far from over we're really in between This Crossroad yet once again where a Lot of people are still on the fence Unsure of what's gonna happen next by Watching this video till the end you'll Have a much more clear understanding of What's really happening within these Markets today so at the time of filming This video Bitcoin is sitting at around 29 000 at 500 right under the thirty Thousand dollar level and still up about 4.5 for the week if you guys went ahead And watched my last market update we Talked about how Bitcoin dropped from Its thirty thousand dollar price level And how it would find support at that 50 Exponential moving average also known as The EMA on the daily chart which is now Confirmed that it's going to be its Strongest support level yet as of now There's heavy resistance at the thirty Thousand four hundred dollar price level And in the past two weeks Bitcoin has Has reached that price level nine Different times and even broke past it Six times but it hasn't been able to Hold and close a daily candle above that

Thirty thousand four hundred dollar Price level so make a note here if Bitcoin can break past that level and if It can stay above the price we would be Able to claim some new training ranges Anywhere between the thirty two thousand Six hundred dollar level or more by Taking a look at other all coins within The market we're gonna be seeing a very Similar price action pattern even very Briefly today we even saw ethereum Coming towards the bottom of that Eighteen hundred dollar price level and Quickly bouncing back out now in a time Like today we do still have some Additional all coins within the green But we do have a fair amount of other Cryptocurrencies in the red one Cryptocurrency that we talked about last Week was pay pay coin and today they're Up about 15 but if we pull it out to the Last weekly chart we'll notice that not Much has happened within their price Range this is exactly what I talked About in my last video usually by the Time you hear about a certain meme coin You have a very small window of being Able to make money it doesn't mean you Can't make money because even on a day Like this they went up about 15 so You're always going to be able to make Some type of swing trade in between the Moment where it is fluctuating but I Will say it is very risky to go in these

Type of Trades and if you're at a Position where you're really trying to Value and respect the money that you own That you've worked very hard for then I Would be ignoring a lot of these Different type of meme coins because This is definitely very similar to Gambling you may be able to win a few Times but eventually you will experience A loss and it depends on how you react To those losses too but most often times When people get tilted they end up Throwing and folding their entire hand Now going back into what we've seen with Bitcoin because this is still going to Be the main cryptocurrency that is going To influence and impact the majority of The entire market so it's been really Interesting because Bitcoin on Wednesday Experienced a violent flash crash where In just about an hour it had dropped About eight percent now the reason Behind this flash crash was initially Because Arkham intelligence which which Is a blockchain analytics firm sent out An alert claiming that wallets linked to Mount gox and the U.S government had Begun selling large sums of Bitcoin There were then rumors that this ended Up becoming completely false but then Arkham has gone ahead and made another Tweet responding to that saying that This was not false and this was actually True but they don't believe that they

Were the sole reason why Bitcoin would Have made a dump this dump went ahead And resulted in over 150 million dollars Worth of bitcoin getting liquidated at Once now when it comes to Game Theory on Why Bitcoin reacts in one way or another Will never 100 know I believe during a Time like this where we're still pretty Uncertain about the direction of the Market anytime we get even rumors of a News this could upset the price of Bitcoin but I see this as a strong Opportunity if you've been sitting out On the sideline for the past week or so And you wanted to build up another Position within these markets it's Usually these crashes where you can get A little bit of entryway in expanding Into the broader Market we got first Quarter earnings reports coming out this Entire week and to many people's Surprise it was actually a little bit Better than expected so more than a Third of the S P 500 companies that have So far reported those first quarter Earnings as of Thursday they came out With 81 beating analyst expectations to Go a bit more into detail it was Actually tech stocks that had a very Strong quarter one earnings and if it Weren't for those tech stocks it could Mean that the stock market indexes would Be feeling a bit more pain to end this Week more specifically we had Coca-Cola

Saying that they had higher prices and Volumes due to boosted sales as Customers bought more drinks on the go We had a meta AKA Facebook recording its First increase in sales in nearly a year Due to continued improvements within Their advertising business we had Microsoft reporting a revenue increase For the past three months through March Rising about seven percent from a year Earlier we had Google reporting better Than expected earnings and announcing an Additional 70 billion dollars in stock Buybacks on top of that we have Pepsi Cola reporting higher quarterly sales And earnings boosted in part by an Uptick in their beverage volume but not Only that it looks like McDonald's had Actually had some more sales jumping up In the quarter and that one actually Comes to me at a surprise because there Was a headline in the news not too long Ago where McDonald's was claiming that They're going to be laying off a Majority of their staff over in California so with top companies Reporting some rather good news does This mean that we're out of the dookie Storm well I'd say hold your horses Because the earning reports may not be Painting a full story on what's actually Happening within the US in terms of Economic growth and this is because the Quarter one GDP report was also released

On Thursday morning showing that the U.S Economic growth had slowed down in the First three months of this year and they Severely missed the mark on GDP Expectations the big debate that many Investors have right now is whether or Not we're in a recession but I think the Question isn't whether or not we're in a Recession I believe that we have been in A recession because according to data We've had 3 three consecutive quarters Of declining GDP and the two quarters Before that were also in a negative GDP And that type of data would technically Claim that we would be in the middle of A recession so it's not whether or not We're going through a recession it's we Are in a recession but how worse is it Going to get and how long is it going to Last two additional points to back up The claim that we are in a recession is Just the fact that right now Unemployment rates and massive layoffs Have not been getting any better Amazon Reportedly cut 18 000 jobs in January And they just announced that they would Cut another nine thousand metas cutting 10 000 jobs over the coming months uh Which would be their second wave of Massive layoffs we have Google cutting Six percent of its Workforce which is About 12 000 jobs Yahoo's cutting 20 of Its Workforce Now in the case that the Next few months is going to be the worst

Part of the recession and we start going Upwards from there I believe that is Going to allow us to actually see more Room for growth happening within stocks And crypto but that doesn't mean we're Not due for another further correction Inside of my patreon you'll be be able To get access to my entire game theory On what I think is going to happen During the recession and the Play-by-play steps that I'm going to Take in order to come out ahead on top Of that for any crypto purchases my Buy Sell alerts and just having overall Access to an awesome Community our Patrons been closed it's been sold out For the last several months but we will Be reopening it soon if you guys want to Go ahead and join the wait list be sure To check out the link Down Below in the Description and I'll send you an email Of when those spots open up now going Back into some of the biggest news so Far for this week well we can't ignore This one here our boys over at coinbase Went ahead and filed a lawsuit to sue The SEC so through this lawsuit coinbase Is claiming that the SEC has not Responded to its petition in a Reasonable or timely manner and has Instead pursued a strategy of Enforcement against crypto businesses And it seems like right now coinbase has Been in this limbo State they just want

An answer they want to know whether or Not this is a security are these yield Bearing interest accounts are they a Green light or not even last week we Talked about carry guns are getting Roasted by some of the other Executives Within our Congress guys let me tell you I am so happy to finally hear we have Crypto companies who have been playing Everything by the book to finally stand Up for themselves against some of these Giants within the industry who have been Claiming rules and still just been Making this entire space a lot more Difficult to work in with coinbase's own Frustration and the lack of clarity and Communication from the SEC I'm hoping That this entire lawsuit actually starts Getting things straight so maybe this Will call for reform maybe we'll get Someone new in charge of the SEC maybe The SEC will finally lose some of that Power where they've been able to abuse It over the past few years on top of That First Republic Bank guys I feel Like I can't wrap this video up unless I Talk about this because this is a stock That got halted multiple times this past Week they are down about 95 since the Banking Crisis began back in early March And it looks like for anyone who was Buying shorts or they were maybe getting Some put options you'll be a bank you Would be making some good old money on

This stock and that's because they've Continued to hammer down and it looks Like even with the most recent news we Got First Republic Bank is in much Deeper trouble than we all expected keep In mind the US Treasury encouraged about 11 of the biggest banks to rescue FRC And provide 30 billion dollars worth of Liquidity with the hopes of stabilizing The bank it looks like that was just Completely temporary and it didn't solve The issue at all so ladies and gents When it comes to this stock at a certain Point you have to realize that things Will get overbought but I would play This so cautiously just because they Have an enormous amount of debt I don't Know how much work or effort it's going To take for the government to continue Bailing them out I don't know if people Are going to allow that to happen if It's even fair for the Democracy of our Country take as an example if you went Bankrupt if I went bankrupt would the Government bail us out and help us out No they wouldn't but they're allowing This exception of the rule to happen With some of these Banks just because it Affects more people this is one of those Plays I I'd keep an eye out on just Because at a certain point I do think There will be an opportunity to make Money whether you're trying to short it Or you're trying to go long or buy it

Because it is extremely oversold but I Think this is a very long term play here And just move with caution last but not Least binance.us went ahead and backed Out at the one billion dollar Voyager Asset purchase because of the entire Hostile regulatory environment that We've been dealing with now this here is Pretty unfortunate news for any customer That had funds within Voyager because it Looks like this is going to continue to Get even more difficult for anyone to Get their money out and let me tell you Even though I didn't have my money in Voyager I actually had my money in Celsius I had less than ten thousand Dollars in there it wasn't a huge huge Amount but in this bear Market I'm Telling you every bit counts and I was Trying to go back in there and just Realizing man these exchanges that went Under that went bankrupt where is the Justice as we progress throughout the Next few months and the next time we Even get a bull market because don't Forget the Bitcoin having is gonna Happen in in about one year from now if The crypto markets decide to pick up Once again is the SEC still going to be In the state that there are now where There is just immense lack of any type Of direction if Government entities were Able to do their job properly instead of Continuing to push off the harder answer

I do think a lot of people would have Saved way more money and they could have Prevented an entire industry from Collapsing let me know how you guys feel About all of this down below and on top Of that if you guys are looking to get Some of that money back you can do it in The form of some free stocks be sure to Check out the link Down Below in the Description for MooMoo you can go ahead And pick up 15 free stocks I got my 15 Free stocks not too long ago and I did That just by depositing a hundred Dollars to access a few of them then I Deposited a thousand dollars to get the Rest of them and those stocks actually Added up to be a decent amount mine Ended up being over 70 bucks but yours Can actually be up to three thousand Dollars depending on if you get lucky or Not so thank you all so much again for Watching today's video be sure to check Out the links Down Below in the Description follow me on Twitter and Instagram subscribe to the channel if You haven't done so already and I'll see You soon peace