Why This New AI is Scaring Investors Around the World | Bitcoin and Crypto Dumps
CryptosRUs
Introduction to Crypto Market Update
The host, George, discusses the current state of the crypto market, focusing on Bitcoin and the impact of a new AI model called DeepSeek from China.
Key Points
- Bitcoin's resilience: Despite a dump, Bitcoin is holding above $100,000, demonstrating its strength.
- DeepSeek's impact: The new AI model from China has caused a global sell-off, with investors panicking and selling off tech, including Bitcoin.
- Overreaction: The host believes that the sell-off is an overreaction, and fundamentally, nothing has changed in the crypto market.
- Correlation between tech and Bitcoin: The host notes that there is currently a strong correlation between the tech market (e.g., NASDAQ) and Bitcoin's price.
Market Updates
- Bitcoin: Holding above $100,000 after a brief dip to $97,000.
- NASDAQ: Down 3% due to tech sell-off.
- Nvidia: Down 12% despite being a leading AI company.
- Institutional Investments: Sailor has acquired 10,000 more Bitcoin, and BlackRock is allowing redemption of physical Bitcoin from iShares.
Other News
- Russia and Bitcoin: Russia is increasing its Bitcoin mining operations.
- Brazilian Oil Giant: Investing in Bitcoin mining using surplus gas.
- Poland: Has overtaken El Salvador in global Bitcoin ATM count.
Conclusion
The host concludes that the current sell-off is an overreaction and that Bitcoin and the crypto market will recover. The fundamentals of the market have not changed, and investors should stay strong and consider buying the dip.