what is going on guys magic here bringing you a brand new video today we
got another killer video for you guys full of information I'm going to be
talking about yo s pun DX as well as lots of other news that went on in the
cryptocurrency space but guys before we get start with that if you want to enter
a chance to win some free Bitcoin all you guys have to do is number one be
subscribe to the channel and have your notifications turned on number two give
this video a thumbs up and number three leave a comment down below saying
something related to the video you guys think as many comments as you'd like and
I'll do my very best to answer every single one also I just want to give you
guys a quick update that I have opened up the portfolio review calls again I've
blocked them off as I was on vacation now I am back and they are open so make
sure if you guys want to get a one on one call with me to go over your
portfolio and build the best portfolio possible for yourself then do click that
link in the description to be the first link in the description but let's jump
into the news guys tether review claims crypto asset fully back so you guys
remember several months ago and it's been going on for a lot of months
actually there's been news surrounding tether wondering if tether is or is not
actually backed by US dollars the tether net worth as as right now as of right
now is 2.6 billion dollars that's a lot of money that they have to have back and
people were trying to get it audited turns out that is very hard to do and
that is not just for them that is for the entire cryptocurrency industry so
you guys can see right here it says the bottom line is that audit cannot be
obtained claiming that this problem is not only unique to his company so tether
but one faced by the entire cryptocurrency industry so the barriers
of the barrier barriers to getting audited are simply too big to overcome
right now and that's not just for them so maybe we'll see this happening in the
future but what they actually went on and did
to prove this was to try and prove their case is they produce a third-party
report proclaiming that it's cryptocurrency is fully backed by US
dollars so the state of tethers reserve have been subject to controversy for
several months now you guys know as well I was talking about its market cap is at
2.6 billion dollars as of Wednesday which is today the time I'm recording
this video but they did go out and they talked to a law firm and they got a
third-party report and they according to the investigation done there they are
fully backed in u.s. dollars now if they weren't that
was gonna be a big issue because obviously they'd be printing money in
that case and that is frowned upon not what we're supposed to be doing in
cryptocurrency but good to see it bagged and that does honestly put a lot more
trust in tether as I know a lot of people weren't skeptical about putting
their money in tether honestly another reason we've been seeing finance coin do
so well is a lot of people instead of been moving their money into tether have
been moving their money into buy nests corn while the market is down and we've
seen that have a pretty good run recently now the next piece of article I
have the next piece of news I have for you guys is the 30 million dollar hack
from the sixth largest largest crypto exchange in the world so this was victim
they actually got hacked for 30 million dollars worth of cryptocurrency so it's
an exchange headquartered in South Korea and it is a leader in the crypto
currency market regarding daily transactions at the end of 2017 the
average daily liquidity turned a turnover a bit tha was equivalent to 1.3
billion dollars that is insane it controls most of South Korea's crypto
currency trading now this is not huge news obviously the market did take a hit
from this if you were to go to the hourly chart and see when this actually
happened and then when the news broke out of this you will see two very big
red candlesticks now actually see a few very big red candlesticks bringing
because the market went down so this did have an effect on the market will just
have a long-term effect I honestly don't think so thirty million dogs as annoying
as that is to be stolen is not a huge difference if you were to look at the
overall market cap we're at 290 billion dollars 30 million will not be a huge
difference in the fact that that's going to affect it what it does cause is it
does make a lot of people worried that their stuff isn't safe anymore and that
will therefore drive some people to sell and that might actually affect the
market so not not just first hand affect the market but they might have a ripple
on effect that might affect the market that's why we've seen a little bit of a
dip but now things look like they are turning around we're gonna look at that
in the market in just a little bit when we do go over the crypto currency market
cap but we do have more good news the next one is goldman sachs is considering
crypto trades and beyond futures this was said by Solomon so
Goldman Sachs one of the biggest US investment banks is exploring
cryptocurrency trades beyond the publicly traded derivatives that it
already handles this is according to the ce o-- o david solomon now we are
clearing some future's around bitcoin talking about doing some other
activities there but it's going very cautiously obviously there's still some
uncertainty and a lot of big institutional investors are still
concerned getting into cryptocurrency because of the lack of regulations which
brings me to my next article which is the last one before we talk about the
actual cryptocurrency market cap and see what coins are up this was a poll done
that said that fifty five point nine percent of millionaires consider
investing in cryptocurrency so a leader in consulting technology and outsourcing
services based in France released the World Wealth Report twenty
eighteen on Tuesday this was yesterday the document states that high net worth
individuals this was defined as those having investable assets of 1 million US
dollars they are actually a majority of them are interested or have considered
investing in cryptocurrency now this does not mean all of them this merely
means they don't know this stuff doesn't mean all of them have invested this
really means that all of them have considered investing and you will notice
a trend also this article does say that those under the age of 40 were the ones
that were asking their the wealth management firms or their wealth
managers whatever their accountants or financial advisors are they were the
ones asking questions about crypto currencies which is a good sign honestly
the fact that the older people are not necessarily looking at that now this
obviously is it a one-way street there obviously are some but they did compare
them to the under 40 to the over 60 and by far there's a lot more under 40
people interested than those over 60 and that makes perfect sense it is harder to
it's going to be harder to convince I'm sure if most of you tried to convince
your grandparents or your parents about cryptocurrency it's going to be harder
then let's say in talking to someone who's maybe 25 it's just the way things
work so this means that although cryptocurrency you know a critical crazy
still has a long way to go and that means that as those people get out as
the people who are under forty right now we talk 1020 years down
the line as they get older younger people come into the world obviously
everything still has a lot of room to grow and add this is why one of the
reasons I'm very bullish on cryptocurrency is I think we can have a
lot happen the next 10 to 20 years things that we can't even imagine right
now I think everything people people are talking about is very short-term it's
very one to two years that's what we're all talking about right now but 10 to 20
years that's where I think we're going to see some crazy things out looking
back none of us would have ever imagined so this is very big for cryptocurrency
and this leads us to talk about the cryptocurrency markets so at two hundred
and ninety billion dollars right now you guys can see there is still some red
from the off from all the flood that was happening we had a green day yesterday
then like I said we followed by some red and now it looks like we are sort of
trying to turn around and continue our run upwards if we do look at the 24 hour
change iOS T leading the way with 13% of that we see a few cryptocurrencies up or
a lot of them are in the point something percent range and that obviously means
that we haven't really decided which direction we are going now this is a
recovery from the negative that we had originally so we are recovery from that
and that is a very good sign in my opinion on the other end though we have
veritasium don't know much about it down a ton so if you're invested in that I'm
sorry it's down 17% that sucks polymath is down as well knows it's down as well
but again everything is relatively small now I think there's more red than there
is green in the market right now but it's still very early a lot can happen
before the end of the day but I did want to talk about iOS and punty X with you
guys because the OS honestly has been having a lot of bad news recently it is
plummeting in price although I think it does have potential I'm seeing people
lose faith and it's something that I've seen happen with a lot of other
cryptocurrencies before but yeah investors have been losing faith in iOS
and that is a very bad sign hopefully they do recover relatively soon but for
now a OS locked 7 accounts and this has implications for everyone in crypto so
in an effect to stop several thefts seven accounts on the eos blockchain
were frozen On June 17 now this is just the
beginning for all the issues that went on I've talked about it plenty of times
in previous videos so make sure you guys do check that out for all the
information but there have been talks about us not being fully decentralized
you know there's a small amount of people control a large amount of AOS
tokens there have been you know they delayed the maenette a lot of stuff has
been going on for it so hopefully they do recover from that relatively soon I
would love to see it continue to be a successful cryptocurrency but for now if
you are still bullish on iOS then these prices the fact that it's falling down
to almost at $10 right now the fact that it is falling does provide an
opportunity for you to pick some up however that is if you guys are
confident that don't forget I'm not a financial advisor this is not financial
advice this is just my opinion next up is pun the X and I don't want to talk
too much about it other than the fact that it is up tremendous amounts today
and that is because it is the winner of the 7th community coin of the month on
Finance so the finance winner of the 7th community month pun DX received 42
percent of those I actually told you guys about this in the video yesterday I
believe I'm not sure if you guys have the time to go ahead and um and vote but
by Nets list community coin round 7 winner Bundy eggs and that is the reason
we are seeing upon the X obviously go up so much I love fun day I think it's a
great investment especially because you do get paid every single month a certain
percent simply for holding it so another form of passive income which i think is
great to have never hurts to have enough passive income and if we do look at the
market really quick guys we were oversold right here at 26 on the
RS i-- from that we have reversed and we are starting to climb up how far we are
gonna go I'm not sure obviously it's still way too early to say we are in a
bull market I've seen other people talk about this and I think I'm going to
agree and say that the only time I'm going to be fully confident that we are
out of the downtrend and starting on an actual bull run that's gonna be past the
$11,800 mark which is this level we have right here other than that I think there
is still a lot of stuff for cryptocurrency to do we look
the overall chart zoomed out it does still seem like we are in a downtrend so
like I said the 11800 is the mark I'm looking at for us to confirm a bull run
but that doesn't mean that we should ignore the fact that it is at seven
thousand dollars roughly for Bitcoin right now and just for seven thousand
all the way to eleven thousand eight hundred is already a significant amount
of profit so I will be dollar-cost averaging on the way down picking an odd
not just for Bitcoin but for several other all coins as well some that I have
talked about over here as well but guys that's gonna be it for this video if you
guys enjoyed don't forget to leave a thumbs up and leave a comment down below
to enter a chance to win some free Bitcoin and of course be subscribe and
have you notifications turned on so you guys can see if you win so you will go
ahead and claim your giveaway win guys thank you so much for watching I'll see
you guys tomorrow for another video
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