Nvidia Earnings Trigger 'Sell the News' Event For FET / ASI Crypto

hey guys how's it going today this is crypto foxy thank you guys so much for stopping by the channel I do apologize I never had any videos out yesterday um there was a a glitch with the software that I used to record videos and uh actually I couldn't even log into it there was a number of other content creators I was talking to that were having the same issue but today it has seems to be resolved so I'm going to look at an alternative for when you know I need it um but for right now we are going to come back to the regular schedule program using the same software um but I will have a backup uh for next time so let's talk about what happened with Nvidia and their Q uh Q2 earnings report so we were highly anticipating this news event for NVIDIA um you know basically AI cryptos were running uh days before this happened we saw you know uh ASI or fet um skyrocketed you know 60% um over the last like week or so and you know those types of run-ups are really hard to sustain in my opinion and uh we're going to talk about the sell the news event that happen so let's jump into it in this video make sure you guys smash like button and subscribe to the channel as well uh for more cryptocurrency news you guys know I cover AI crypto all the time on the channel and uh Nvidia was something that I was highly anticipating and I still am very excited that we got good news right because you know okay I I'll read you guys the article first and then I'll give you guys my opinion so just stick around to the end okay Nvidia quarterly earnings report shows Revenue increase to $30 billion reflecting 122% year-over-year increase for NVIDIA the crypto sector experienced a downturn and Bitcoin retracted to um 59k in ethereum to around 2500 while AI related crypto also drop signaling a sell the news event uh response among investors so investors are reacting by pulling back from major cryptos such as Bitcoin and ethereum yesterday following the announcement and then AI crypto and uh a lot of the altcoins followed with it this phenomenon it where Traders sell assets following announcements of seemingly Pro positive News highlights unpredictable nature of crypto markets so we're going to jump over here and take a look at AI crypto right now uh this is coin market cap the the whole market right now is down about 4% uh sitting at 2.08 trillion so we're really close to losing that that2 trillion doll Mark hopefully that doesn't occur but uh this is the AI crypto sector rate here as you can see on the chart um and I sorted it from uh B basically The Biggest Loser so the big a lot of the biggest losers are the ones that had biggest gainers from the other day as well so we see render we see ASI Fett is up there as well and uh you know this is really this is what it comes down to in my opinion the crypto Market's not ready for a massive run or any kind of a bull run bull market whatever we're not there yet and I think a lot of this was people were looking to make a quick flip okay so what happens a lot in crypto it's uh you know if people aren't if people are kind of not making as much money uh sometimes as they're they're used to in say bull markets and things like that they'll look for opportunities like this where we have big news that's supposed to impact the market and a lot of times what people will do will buy in an anticipation for a quick flip just to try to make some money uh make make a quick few bucks or whatever and get the heck out until the next basically the next news event so I think that that's kind of what happened here um still really really bullish I mean it's still incredibly uh amazing how much revenue that Nvidia is pulling in and I think that this is going to impact the AI crypto Market it's just not going to be right this second this might be uh we might have to wait until the Federal Reserve uh comes out with you know their interest rate um their interest rate Cuts in September is what we're anticipating so hopefully that stays true that you know does occur and we'll get a little bit of more positive news for the market as of right now the financial markets are just kind of blah right now and think that that's why we didn't see any kind of a major runup so don't shoot the messenger um you know it's basically that's just my opinion that's my thought process uh trying to I I always say I try to think like like other investors and that's really the key to crypto because some of it doesn't really make any sense in terms of you know valuations on projects uh things like that there's a lot of hype and there's a lot of uh a lot of excitement in crypto and when you have a big major news event like that you're going to have people try to take advantage AG of price action and I think that's what we saw here but we're out of the 70 Cent range you know ASI is out of the 70 Cent range we're you know we're looking up things are a lot better we're up over the dollar Mark um I think we're you know we're still going to see a recovery and we have seen a recovery this is actually you know the the amount that it's moved up already is recovery so you know as long as we can stay above um you know I'm thinking above a dollar because that's that psychological range right we can stay above a dollar which we are um take a look here right quick so we're at a13 right now I'm hoping that we're going to stay above a dollar and uh you know if we dip back back down into the 70s or the 80 cent range I'm buying a bit more again but I think you know I think the worst is a bit behind us right now I think right now the Market's going to have to try to digest um what's coming I don't think the rate hike is is priced in right now but I think we are going to most likely get a a little bit of a run up before that um then some pretty volatile days right around when we're expecting the rate hike or not rate hike sorry a rate cut I apologize I've been having rate hikes for so long that that's just automatically where my brain goes but uh you know I think we're going to get some volatility there and then obviously we'll have to digest whatever information we get from the Federal Reserve and we'll see where that takes us but I'm pretty sure in my opinion that we're going to see uh some better days come up in October um I always like October for crypto it's historically been pretty pretty good um you know but uh we just have to have some patience until we get there and I'll be here on uh reporting on any news I have for you guys for Asi and other related cryptos as well so thanks so much for tuning in and I really appreciate it and I'll catch you guys in the next one