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Bitcoin 2020 Halving Hype Builds As MASSIVE BUY SIGNAL Flashes

VIDEO TRANSCRIPT

Today in Krypto, are we about to see the big hype run coming up for the bitcoin having? Well, a few huge buy signals say that we might just be in for some massively bullish price action for Bitcoin and more and more the world over. People are using Bitcoin as the life raft to escape the shackles of their failing fiat currencies. The crypto alert. This is where used to scrap all of the hottest in all of the latest happening out there in the wild, wildland of crypto. And if you are new to crypto and you still need help getting over all of the basics, like what bitcoin is, how and where do you buy it? How do you store it? How do you send it? How do you mine it? And really just all of the tools that you’re going to need to start investing successfully that check out my course. Cryptocurrency. Explain. It is designed for beginners to help you confidently start investing in crypto. You’ll find a link down below in the description in this video where you can learn more. Also, before we jump over to the charts today, I just have to mention my channel has been getting savage this month by YouTube. In total, eleven videos have been removed over the last month. This is a direct result of the new Cauvin 19 YouTube policy, which basically just mass flagging thing. And this issue only really began with my channel when those new rules for Cauvin 19 came into effect that essentially made the YouTube a-I much more aggressive and thus a lot more videos are being pulled down now in every situation. The videos have been brought back on the appeal to YouTube, but as I’m sure you can imagine, it’s very frustrating. And a lot of you have been coming to watch videos being cut off halfway through video because the A.I. has killed the video. But if you do want to watch a video, you find yourself in a situation that it has been removed. Then just a reminder for everyone out there, I do upload all my videos to Facebook and I also upload them all to the library so you can find them over there, too, if you’re halfway through the video and it gets pulled. Hopefully when things go back to normal after this whole crisis situation is over. This YouTube issue will be solved. So hope that’s going to happen pretty soon. Now that out of the way, let’s dive into the charts. Bitcoin has had a nice little breakout from it was really a crazy weekend, just super, super tight, sideways action at the time of recording the break out the candle. It has not yet been confirmed. But if it does confirm and it does hold above this breakout line, that we can probably expect more bullish momentum coming into the market to form up as more traders enter the market on confirmation of that candle breaking out. What I’m really looking for, though, is bitcoin to just Kourosh that two hundred days moving average. And if the price can now close above eight thousand dollars, which is where the 200 days moving average is currently chilling. That’s the purple line on the chart here, by the way. Then that would be super, super awesome. But I would expect a lot of resistance at that level and possibly even a few failed tests of the eight thousand Darlyne or the 200-day moving average. But if the bitcoin honey badger wakes up, then all talk of resistance could be off of the table. So keep that in mind. Now over on the weekly, we have had week after week after week of green candle closing, which certainly has been looking very nice. Although this could actually be moving us towards a formation of an ascending wedge, as we know is a bearish chart pattern now that could trigger right around the eight thousand dollar mark and bring a very big price correction in. So. Keep aware of that. However, the weekly max-d is getting very close to hitting a bullish cross over. That’s something to be excited about. One more week, bullish momentum could actually push us up into that zone for that bullish crossover. But as always, this is not actually valid until that cross happens to just wait and see how that plays out next week. However, if it does happen, then you can see that historically a bullish Mac D cross on the weekly has had very good consequences for the price of bitcoin. But in spite of all of this just really bullish looking market structure we see setting up the bitcoin fear and greed index is still showing that the market participants have not yet moved past the shocks of March lot of PTSD out there in the bitcoin markets. I think extreme fear is still the dominant market sentiment. So really take everything right now with a bit of a grain of salt as the wider market structure globally is still dominated by uncertainty, massive job losses, massive bailout. All that stuff, you guys know the story, even talking about this for weeks. But there is one final indicator that I wanted to discuss with you that has just flashed a massive buy signal for Bitcoin. The hash ribbon’s indicator is showing that now is the time to buy Bitcoin. Now, the indicator has been very reliable and timing breakouts in the past. In fact, the last three times that the indicator flashed by bitcoin surged by 45 percent, 280 percent and three thousand two hundred per cent. Thus, this buy signal should not be casually ignored. We could be setting up for a very big bitcoin rally here. But one thing to keep in mind is that the last having the hash ribbon actually does flash a short but brutal capitulation signal just after the bitcoin having. As you can see in the chart here, the price dropped by around 27 percent in the weeks following the having. So that happened before we got that buy signal that then led us from a price low of $480 a bitcoin just after the having to. Twenty thousand dollars. Eighteen months later. Very fascinating stuff. And the bitcoin having it is getting closer and closer by the day and by the hour. And while the day itself. Yeah. It’s probably not gonna be super exciting. The event, though, the impact of it, it’s leading to a huge amount of activity on-chain on-chain fundamentals show that the active bitcoin addresses had increased by 8.9 3 percent in the last week and nineteen point four seven percent in just the last month. Transaction counts are up as well by 5.1 percent over the last week and by fourteen-point seventy-four percent in the last month. And the number of active entities or the number of active addresses on the bit COIN network has also jumped to levels not seen since July of twenty nineteen. And as you can see from the chart here, we are just on the edge of a massive bullish line break for this metric. There are so many metrics lining up. All the stars are coming together. Oh, man. I’m just I’m so excited about bitcoin case. You guys can’t tell. I’m very excited about all this stuff. Really, just the future of the entire crypto economy. What an exciting market to be in and what an exciting time to be in that market. Just think about it. In fifteen days, the annual inflation rate of bitcoin is going to go from 3.6 5 percent down to 1.8 percent, which is approximately half of the global annual inflation rate and actually puts bitcoin very close to gold, which has an annual supply increase around 1.5 percent or so of new gold being taken out of the ground and from mines and put into circulation. Institutional interest in bitcoin is also starting to trend upwards again after we saw a very low for that just after the crash with nearly $600 million in Bitcoin futures volume happening over on the CMC. And of course, we had that big announcement last week that Renaissance Technologies, a hedge fund valued at around 166 billion dollars, is going to be entering the bitcoin futures game over on the CMC. Not really excited about that kind of institutional player going over to the CNE for Bitcoin, but you know, it’s happening and it definitely says a lot about the seriousness of Bitcoin. I find players like Greyscale much more interesting since they’re accumulating bitcoin versus is playing on the price. These hedge funds in the future markets bet no time for them, but the entry of institutions into the futures game at this particular time does show that in spite of the wider market pains that we are seeing, bitcoin is seen by these players as an area of opportunity and they want a piece of the pie. We’re also seeing massive volume surges all around the world. For example, Chile has just hit a new all-time high on volume for Bitcoin traded as Chileans are fleeing the Chilean peso amid worsening economic hardships made only worse yet again by the pandemic in Chile is not alone. It’s Colombia, it’s Mexico, it’s Peru, it’s Brazil. They’re all seeing huge surges in bitcoin purchases as their local currencies are facing increasing pressure and uncertainty. But nowhere is this more apparent than in Argentina. The volume of Bitcoin traded in Argentine pesos has risen dramatically over the last couple of weeks because the country is now facing a possible default on $65 billion in foreign debt. The Argentine peso has already been hard hit by inflation and capital controls and really just economic uncertainty for Argentina. This current crisis, just the nail in the coffin for the Argentine economy and for the Argentine peso and yet another default. This not Argentina’s first default. It’s happened many times before. It’s just going to crush the peso and people’s livelihoods flee the peso or lose your wealth. Bitcoin is the escape plan. More and more, we see people losing faith in these institutions, in these central banks and these governments and taking their financial destiny into their own hands. Take this great story from Russia. Russians have withdrawn more than thirteen point six billion dollars in cash from 80 MS. Just in March. Not counting for any of the numbers from April is going to have yet. That is more than all of 2019 combined, by the way. But the Russians weren’t just hoarding cash. Bitcoin volumes on local exchanges have also seen significant volume increases and also a lot of new user sign-ups. People know about bitcoin and they buy bitcoin in times of certainty and in times of crisis. And Russians know very well the reality of bank runs and of supply shortages. The ghosts of the Soviet Union collapse. They remain very vivid in the minds of many people. This is something I learned from many years of living in Russia. There are parents who grow up in the world of bread lines and all the Russian millennials. Well, they all grew up in the economic turmoil of the 1990s and Russia, which is a very, very harsh period. So there remains a very healthy suspicion of the system and of the banks. Don’t be a victim of circumstances. Be prepared for any eventuality. Cash, gold, bitcoin. But Bitcoin, more than anything else, it is the best life raft of them all. It’s global, is permissionless, backed by the most powerful computer network the world has ever known. And you can carry it in your pocket, and no one even knows it’s there personally. Stack sets chillen. Super excited about the current market momentum that we have built up. Hey, is bitcoin? Anything could happen. Those are, of course, just my two stogies. Your question for today. How excited are you for a bitcoin having? Do you think that we are on the verge of seeing a big pree having price run? Or do you think not much is going to come of it and we’re still just too dominated by fear and that really wider economic crisis for to really matter what Bitcoin’s doing in the short term? Let me know. Down below in the comments section. Thank you so, so much for watching today’s video. As always, you are super frickin awesome. Thank you so much for taking the time out today to cover here and listen to this dude here about cryptocurrencies on the Internet. Thank you so much. Make sure to hit that thumbs up button as well as subscribe to a channel. If you are new around here, long live the blockchain. And B-cells. Next time.

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