On this episode of Money Never Sleeps Radio with Louis Velazquez we are talking about the Cryptocurrency Meltdown that happened on May 19, 2021 and why it matters. We touched on Bitcoin, China, Ethereum, Coinbase and many other things that are going on.
Also touching on the impact of social media on the Crypto Market and how the likes of Elon Musk can impact investors jumping in or out of a crypto asset such as Dogecoin and Bitcoin.
There are elements of the crypto market that taint the market, from pump and dumps deals to social media induced buying or selling as well as the issuance of cryptocurrency with no utility at all but a coin with a nice look and marketing behind it. Investors need to be more diligent and understand that Las Vegas is in Nevada and if you’re treating the crypto market like a slot machine then the odds are in the house’s favor always.
Look for the utility in a digital asset, what is it being used for, that should be the big question.
Ethereum is a platform that has a solid foundation for extreme growth and the value is not being realized as of yet but it will be as the platform grows. It has revenue generating ability and isn’t really dependent on an exchange because this is more than just a coin that was issued. This week I will be talking about another digital asset that is serving the same purpose with an ecosystem in development that will give it extreme scalability over time, these are the cryptocurrencies you want to focus on, not the hyped ones that will burn out once the wind has died down.