We have some big crypto news to talk about in the market today. So, we’ll be doing an update on Terra Luna. We’re gonna be talking about what Cathie Woods is saying about the crypto bear market. Is it over soon? Also, some big news coming out of Australia and some other important things you need to know in the crypto market today.

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I want to kick it off with some positive news and this positive news is coming out of Cathie Woods and she is the CEO of ARCinvestment. This article says right here that she’s quite bullish. She says in a recent YouTube video, the prolific investor said you’re in a bear market and maybe close to the end when everything starts acting alike. We’re seeing the capitulation of one market after another. She pointed out that crypto, a new asset class, should not look like the NASDAQ. But it does. So, if we bring out the NASDAQ graph right here. You can see it. There has definitely been a bit of a decrease in the price of our NASDAQ from a nearly all-time high of 16 000 points. It’s trading right now at around 11 800 and we do know crypto has also gone down during this period. So, Cathie Wood is saying potentially that this is the end of the bear market. I hope it is, I hope crypto prices do go up. But, I just wanted to bring you that optimistic outlook from Cathie Wood. We also have this big update as well as Tether. You are aware of this. It’s paying out over 10 billion dollars in withdrawals since the start of the crypto crash. If we do bring up the market cap graph of Tether, you can see a live update right here. I did get up to a market cap of around 83 billion dollars possibly a little bit higher and just recently there has been a lot cashed out so around 10 billion dollars now of our tear they cash back into fiat. We do know there is a bit of fud behind Tether. But, we’ll keep an update on that situation. Hopefully, Tether is not unpaid. We also have some top Australian banks handing out crypto right now.

It says here top Australian bank ceases crypto pilot amid market downturn report Australia’s Commonwealth Bank has halted a pilot program for select customers that had allowed them to purchase crypto and look. I’ll give you a short answer to this article and this is not how you make money at Commonwealth bank. So, in crypto generally, the people who make money are those people who are positioned well when the prices start to go up right now. We do know the crypto market. It is in a little bit of a lull at the moment covering around the 30 000 Bitcoin ranch. But those people who make money are those ones in a good position when the bull run starts again so if they do have entry into the crypto space. They have their services up and running when the bull run returns, that is when you make the money. So, in my opinion, the Commonwealth Bank is definitely making a strategic blunder right there. Also, we have some other important news. You need to be aware of and it says right here targeted phishing scam nets 438 000 in crypto and NFTS from hack people accounts. So, links were posted to fake Louis Vuitton. Non-fungible token raffles were made to capitalize on a recent real collaboration between people and the luxury fashion brand. So, unfortunately, there are a ton of scammers out there and you’re going to see them in the YouTube comments. Always remember Cryptozoo. So, I’m never going to ask you for crypto.

Let’s do a big update on terror as well. So, Terra the cryptocurrency what are some critical updates. We’ve had this. So, I did just mention it just previously but one big update. You need to be aware that Do Kwon is potentially fighting his own burn that started in the community. You can see Rosen, you can see Rosen right here. He says give us a burn Luna address, we will burn it for you and the burn address was provided to the community. What a burn is so anytime you send your crypto to a dead wallet or the burner dress, what happens is the supply of that crypto is going to go down theoretically that helps the sup that helps to support the price of the cryptocurrency.

 Do Kwon did provide it over on twitter and from the provision of that burn address or that dead wallet. He’s provided right there. You can see the Terra Luna fly into this wallet. So, you can see a hundred thousand Luna 134 000, Luna 100, Luna, 26 000 Luna, 40 000 Luna. So, the community right here are sending in the Luna as a way to support the price of the cryptocurrency to kind of keep the activity alive during this time of volatility when we’re trying to figure out. What is the next step for Terra Luna with version two? That but just recently Do Kwon has also come out and he said right here to clarify as I’ve noted multiple times. I don’t think sending tokens to this address. To burn tokens is a good idea. Nothing happens, except that you lose your tokens and want there to be no confusion. 

Whatsoever, so, you definitely do lose your tokens. But I would definitely disagree that nothing happened. So again, if the crypto community is coming together to do burns to do buy-ups to support the cryptocurrency that actually does help out the crypto as long as people are aware of what they’re doing. I don’t think there’s anything wrong with that, there’s always no financial advice on the channel. But that is what happens in crypto communities. So, people are generous. They do give money away to support their favorite crypto communities, that’s a fact. So, I definitely disagree with nothing happening in that sentence. Look there’s been mixed reactions over on twitter h right there. We’re still waiting to find out exactly what happens with Terra Luna right now. It does look very likely that this will go to a v2 based on the vote. So, you can see right here 173 million votes and this looks to be a reality. So, version two of Terra Luna is going to come out. That is my prediction right now.

Let’s do an update on the crypto prices today and have a look at this. So, UST is up 30 a lot of the other cryptos. They’re pumping today, so crypto is pumping right now. This is nice to see and where is this being led? This has probably been led by this increase just slightly in the Bitcoin price. So, I’ve zoomed in on the graph right here. You can see on the 15-minute candles, that there was that big recent sell-off right here. So, someone dumped a lot of Bitcoin on the market and that did decrease the price of a lot of the cryptos. But just recently, there has been some nice bullish momentum. So, a nice buy-up right here boosting the price back up to 30k, and we are seeing some green candles. This is exactly what was it wanted. This is exactly what we want to see so some bullish momentum in the price of the cryptocurrency. What do I think is going to happen for cryptocurrency?

This article is a transcription of a video made by Crypto ZEUS

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