October is here and a lot of people are excited for the cryptocurrency market because we have been beaten down so much throughout the rest of the year and now they're signs of a pivot coming from the fed and a lot of people are wondering where should they invest their hard-earned dollars into crypto I'm going to go over five of the top cryptos to buy now in the cryptocurrency market now of course there are disclaimers my portfolio is not your portfolio I'm not buying all of these myself even I hold positions and all of them except for one which I had a position in a while ago but I'll go through that as we walk through it just know that I'm not telling you what to buy you have to do your own research you can skip around too if you want but I would highly suggesting through to the end because there's a lot that we have to cover now the cryptocurrency market cap is down under a trillion dollars as I said we've been being down pretty far this year and that's most uh mostly due to the fact that the FED has been raising rates so aggressively and causing a lot of people to think that we're going into a recession now we still have some things out on the horizon that are scaring people like the Ukraine Russia War like credit Swiss that now is possibly going to uh fall because of poor financials and their credit spreads we also have the dxy which is raced up all year long pretty much the dollar destroying all other currencies including Bitcoin but also a lot of global currencies which isn't great for uh for stocks in general and that's not great for crypto either and now we are seeing it come down a little bit we had it around 115 just a few days ago now it's around 110 so we're starting to see a little bit of relief in the markets and we just got news yesterday of un warning that there's possibly going to be a recession due to in imprudent monetary policy basically saying hey the US is raising rates way too aggressively you have to stop doing that because it will crush other countries and it'll generate a huge recession so there's a little bit of pressure being put on the Fed we also have just Monday uh the whopping 10 basis point of cuts now expected in 2023 so before this just a few about a week or two ago the market was really being hammered and that was mostly due to the fact that we thought we were actually going to see more uh more raises at the end of 2023 than the beginning we're going to see a higher fed funds rate I should say at the end of 2024 instead of 2023. compared to back when the market was doing really well we were thinking that we're actually going to see this pivot in 2023 and we're going to have the FED actually lowering rates now we're starting to see a little bit of Market excitement because we are seeing that flip back around and we are now expecting as of Tuesday because I am recording this a day ahead of time we are expecting them to actually lower rates throughout 2023 from the beginning to the end we are expecting some kind of rate cuts and we're expecting the FED to Pivot here soon and just stop raising rates so aggressively now I do want to say before we get into this specific cryptos right this is an exciting time if the FED u-turns or if they pivot I should say because that's going to come before our U-turn If the Fed pivots it's going to be great for the markets and that's what I think we're pricing in on Monday and Tuesday at least that's why the market is moving up so aggressively so there's a lot of excitement for this if they don't raise rates if we go into a massive recession or something like that if something else collapses or if Ukraine and Russia ramp up the war that could all be pretty negative towards cryptocurrency and the stock market but we have been beaten down a lot which is why I think we do have to still look at some of the best assets to look at because I think at this point there's a greater chance that we see a bounce in October than we see it fall so just do your own due diligence now if you want some free money you can get the link underneath the video to MooMoo and start depositing you can get up to 15 free stocks you can get thousands of dollars so take advantage of that even if you sell off the stocks and put it into crypto it's a super easy way to make money so let's look at the first Crypt over here Bitcoin Bitcoin is my first one just a couple different things you have to realize credit switch just came out with how many millionaires are in the world 62.5 million at the end of 2021 this is up from I believe it was 54 55 million last year so a lot of a lot of new millionaires were created last year we grew over 10 percent uh in one year now this means that there is less than half a Bitcoin I think it's right around point three Bitcoin or so for each person there's a Cap supply of Bitcoin that is just around 21 million and it's going to be harder and harder to get your hands on one Bitcoin that's not even accounting for all the Bitcoin that's already held by large entities that aren't going to sell like microstrategy they have almost one supply of the overall market cap or one supply of the overall circulating supply of Bitcoin especially when you take into account all the Bitcoin that's loss right there aren't actually 19 or 20 million Bitcoins circulating right now because a lot of it has been lost early days people just didn't see the value and they threw out thumb drives or Satoshi holds a million Bitcoin so there are a lot of a lot of people that just won't be able to get a full Bitcoin so that's a goal to get to one full Bitcoin we also have so many governments making so many I don't want to say bone-headed decisions but so many questionable decisions over the last couple years from printing into Oblivion to starting to raise rates to some countries having to go back and start cutting rates again or lowering taxes or coming in and bailing out bonds a lot of people just aren't going to trust the monetary system and they don't so many people don't realize that there's a better solution to it but Bitcoin can't be changed it can't be uh or it won't be changed in terms of circulating Supply there's just such a reason to hold it in this kind of environment where your dollars are being inflated away right in the US we have over eight percent inflation still other countries have 15 17 70 inflation right so there's never been a better reason to hold it than when we see all this happening also just looking at what happened with the Ukraine there's such a utility for Bitcoin too being able to send it across the world and we're not just talk about someone trying to move you know a billion dollars or something like that and not having to move it in Gold but holding a scarce asset like Bitcoin where they can move it over in a click for a dollar or something like that we're also talking about people that literally aren't allowed outside of their country tree or have to escape and the only thing they have is what's in their head so you can hold on to a seed phrase a lot easier than you can hold on to gold or something like that so it's a great thing to have if you are someone that is in trouble now we also saw the Canadian trucker movement where people were actually cut off Frozen from their accounts if they were just thought of as being part of that without even having any kind of due process so again just more governments more uncertainty I think it's a great thing to have kind of like you want probably guns bullets water if you're an end of the world person if you're worried about that kind of thing you want Bitcoin in case of their in case of economic uncertainty as well we also have big institutions starting to raise money to buy Bitcoin naidig just raised 720 million dollars possibly to buy Bitcoin this would be 36 000 Bitcoin that they're buying and there are other companies and people that are doing the same thing they're just accumulating so looking at the Bitcoin price first let's look at the weekly here the 200 week moving average is right around 23 600 and Rising we're around twenty thousand one hundred at the time of this recording so we're below about 15 percent uh below the 200 week moving average historically a great time to be buying typically we don't see more than two weeks under this 200 a week moving average now we've seen a couple months with the exception of just a few weeks here a couple months where we've seen this and we've held support here at 17 500 we've bounced a couple times above that Mark so we haven't tested the prior lows and it's looking like this is a really good time to be buying historically we also have some people saying that they're buying in for the first time uh they thought we were going to fall lower and now they're actually going to start dcing which I think is positive as well when we look at the one day here the one day chart you can see this down this trend line that we've not been able to break through we're getting really close actually we just technically I believe we actually just broke through it so when we look down here we just broke through and this is a something that we've seen uh us get rejected from for a year basically I think it's actually uh since last November so 11 months so we're breaking through this now that's positive if we also look a little bit closer in right let's look at the four hour here we actually have just a small area here too that we broke through uh when we look here we bounced off of it twice it got rejected by it twice and then broke through it last night I talked about yesterday in my video how I was long at that point I actually did a 50x long which I don't typically do I only did it with 75 75 but when you look here I'm up 160 percent so you can make these low plays too when the markets kind of sideways but and you can still make a lot of money now there there's a ton of risk in a 50x long and I would not do it with any sizable position in my portfolio but I'll take 113 dollars that's awesome so if you guys want to sign up and do that yourself there is a link to bit get underneath the video where you can start longing and shorting and with the link underneath the video you can sign up and get 15 usdt for free so it'll start you on your way a little bit then we also have ethereum that's crypto number two we had the merge happen back when was that back in September about halfway through the month and so far it's I think it's been really successful we had a sell-off when this happened and that was what we were expecting anyways we weren't expecting it to go to the Moon especially in this kind of Market environment but since that happened the supply of ethereum has gone drastic drastically down so we've had about 11 000 new ethereum issued it would be about 3.8 percent if we didn't go to proof of stake so the hat is really bullish we cut down on the new Supply issued by almost 20x we also have the fact that Bitcoin is still 10x more inflationary than ethereum now and this is when ethereum isn't being used that much either it's not like there's a lot of fees happening or that's really expensive right now because there's not much excitement in crypto we don't have like a big nft boom or play to earn or anything like that exploding so the fact is that this will go down probably even from here and probably go negative as we get more and more people into cryptocurrency and as we get more people back into cryptocurrency even just from uh you know a year or two ago so this will be really deflationary in my opinion we also have the fact that it just changes how people hold ethereum like before we had ethereum miners that were constantly selling now we're going to have ethereum stakers that constantly stake so there's no there's not going to be that selling pressure on ethereum all the time because people can just leave it staked and make more and more money and stack and stack and stack especially with it being deflationary people are going to want as much big as much ethereum as possible so I would definitely look at ethereum we also have a downtrend line going back from November last year and it's not perfect but you can see we kind of went just above it here and then below it we haven't come up to meet it again but if we could break through that I think that'd be really bullish right now it's in around 1650 or so if we go out a couple weeks so it's down to in the 1500s so I would definitely pay attention to ethereum I think it's going to be fantastic after the merge then we also have polygon that's crypto number three polygons Partnerships over the last 12 months DraftKings NFL Adobe Starbucks Disney Mercedes meta Reddit they are fantastic so they have some of the biggest Partnerships they've been working the most they have some of the biggest Investments that they've been making we're talking about like hundreds of millions of dollars uh infested in sdks and uh Roll-Ups that's going to be fantastic and it's going to take some time but I think when we see the next Bull Run and so many people are looking at ethereum thinking why am I paying three dollar gas fees or 20 or 200 people are going to go to polygon and polygon still is so much uh so much scaled up from ethereum ethereum still doesn't process many transactions per second and for anything that's high volume like all of these things they're going to need something like polygon so like Starbucks wants an nft reward system for holders and they can get drinks and special special things like that uh so I think there's still going to be such a use case for polygon for a long time and right now there's still quite a small market cap they're only seven billion dollars I mean that's still larger in crypto don't get me wrong it's top 11 but when you compare that to something like ethereum we're talking about uh orders of magnitude smaller right like 30X smaller they also announced back in August that they have now 37 000 dapps and 11.8 000 active teams working on polygon many projects are increasingly choosing to build solely on polygon Alchemy data shows that 74 percent of teams integrated exclusively on polygon there's a reason for this it's very low cost it's very high transaction speed I've worked on it before too you know instead of waiting 10 30 50 seconds uh for something to go through it happens in a second or something like that so still being down pretty far from a tie it was at three dollars now it's at 84 cents of course it could go down further it went all the way down to eight it went all the way down to 33 cents and has rebounded really well now it still looks like it's falling down a little bit here recently but that's just the overall softness in the market and keep in mind too with this I am buying exclusively Bitcoin because I think the Bitcoin dominance is really low and I think a lot of cryptos will bleed against Bitcoin so I'm not saying to necessarily go out and buy all these altcoins now I personally am buying only Bitcoin but I am wanting to buy more of these and once we see a confirmed pivot from the fed or crypto starting to jump up that would be a fantastic time to buy these because we'll most likely see Bitcoin move first and then we'll see altcoins move after that and then the fourth Crypt on this list is actually one that I don't talk about too much it's B and B so so many people find that BMP is just boring or not uh they don't have a lot of hype behind it but they have held up so well they're down less than 60 percent which I realized me saying that they held up well and they're down 60 sounds kind of crazy but when you can compare that to bitcoin Bitcoins down what 70 plus and BMB is down less than that it's doing really well in this bear Market it's number four overall and the reason for this it has great utility so you can use it for fees on the binance smart chain uh you can participate in exclusive token sales and more they also burn a significant amount every single quarter so I forgot exactly how much they used to burn I think it was 25 of their earnings but you can see that they're burning 2 million BNB at quarter give or take so this is 500 million over a quarter of their burning of BNB now it is a relatively well it is just a large market cap compared to other cryptocurrencies so the burn it's not like they're burning a few percent every quarter they're burning less than that but that's still one percent of their overall Supply and as the market has fallen down they've been able to buy more and more and burn more and more so that's really positive interest constantly good news it's constant burning and constant deflation of the supply overall and they have the highest volume out there so they have 10x the volume of the next highest volume exchange they dominate in crypto and this is just the utility token so it's a great thing to buy if you want something that's not going to be super volatile in crypto but it's just going to continue to plug along and probably do really well now I wouldn't be surprised if a couple other cryptos beat it out eventually like if the next best later one like a Solana or polygon or something like that because polygons a layer two and kind of a layer one as well if they beat it out eventually but it's still gonna stick in the top 10 in my opinion unless it just loses 90 percent of its volume or something like that now that was a little bit drastic if it lost 50 percent or 60 percent of its volume I think people would get worried about the token but I don't see that happening anytime soon and then I will give an honorable mention to Solana I really do like Solana there hasn't been too much news on Solana it still has a lot of uh people using it it has gone down again one more time this week in the last week I think it went down but I still think it'll do really well fast transaction speeds uh good throughput so I still think it will do well but then the fifth thing that we had to talk about the fifth crypto I say on this list is actually cash so I realize that's kind of a cop-out I gave you an honorable mention so that way you won't be angry there are a ton of other cryptos out there but I think cash is really important still in this market because we don't know what's going to happen moving forward if Bitcoin all the sun goes down and breaks through prior to lows and we don't have a bottom if we fall down to 13 000 you're gonna definitely wish you had some cash so I would keep some cash on the sidelines now there are different ways of generating cash either from your active income if you can sell options I've been talking about that a little bit more on the channel too I have a full video that I'll put on the end screen that's a 40 minute video that goes through selling options and I'm making a thousand dollars a month plus and options right now so watch that video but I think you do have to have some cash in this kind of Uncertain market now let me know which of these cryptos you're most excited about let me know what cryptos you're buying underneath the video be careful of the scammers definitely check out the links to MooMoo underneath the video to get that free money because it's so easy and then also bit get in case you want to start buying and selling cryptocurrency on margin now of course be careful only do this if you're an experienced Trader and I'll see you in the next one bye
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