You just. What’s going on, guys? It’s K-Dub here with another episode of Crypto Zombie. Welcome back to the Channel. Hope you’re having a great weekend so far, having a look at what is going on. We are having a little bit of a mixed day today. You know, some of the all coins are up 0.3 point 1.6 percent. Bitcoin down point 4 percent really since yesterday. Not really much has changed. We did dip down to about six thousand seven hundred and fifty dollars. Now, in yesterday’s video, we were talking about whales moving twenty five thousand six hundred and eighty four bitcoin. And actually today we do have some confirmation on a move that might have triggered some of this sell off. So I do want to talk about what that was and what we should expect, because now we have some analysts coming out saying that Bitcoin has to go down to $3000. In fact, one of them is an analyst who did accurately call the dip down to three thousand eight hundred dollars. So I do want to sort of analyze that today. At the same point, I do want to zoom out, have a look at the macro trend. Are we sort of where we should be for Bitcoin’s position right now in sort of that reha cumulation stage leading into the having, don’t forget. OK, the having is coming up in about a month from now. So I do want to get into all that. And we do have actually some big news today that came out. It’s something we’ve been waiting for for quite some time. And today is the day and we’re going to get into that. So we do have some positive news. We have a little bit of negative news. And we also do have a Bitcoin transaction for one point one billion dollars, which are going to get into in just a bit. And if all that sounds good to you, well, you know what to do if you are not subscribe to the crypto zombie channel will do consider it. We do this for the most part every single day. Without further ado, let’s dive directly into the chart so you can see right here, we did, in fact, fall out of this ascending wedge. We are sort of just hanging around this previous resistance right here, turned suppor. OK. Now, I do want to point out yesterday we did actually have a lot of bitcoin on the move. And if we have a look right here, there was a thousand Bitcoin that were deposited onto Hoby. And you notice that literally minutes afterwards, Bitcoin did, in fact, have a major move. So it does look like we did have some whale investors that were looking to actually sell yesterday and we did see that reflected in the chart. Now, before you freak out and go, that’s it. We’re going to zero there selling. I’m going to show you something that is actually very positive. As far as the data, even whale data is concerned. But super quick, let’s have a look at the chart. You will notice that unfortunately that selloff did now put us underneath the support, the previous support that we had. You know, we had it here. We touched down here. We had support here. Well, now currently we are actually sitting below it. So now we’re underneath the support. And the support is acting as resistance. This isn’t necessarily too good short term. Now, if we were to break above this, then we could see ourselves back around the hartline and we could have a seven thousand five hundred dollar bitcoin maybe buy. I don’t know, the end of the weekend. That is possible. However, there is also the scenario that we break to the downside. And you will notice that if we actually extend this line out from the ascending triangle that started out from the dip, we are sitting directly on the support or the resistance actually of the top. And the thing is, is if we fall down, we could be looking at a 6.6 K level lower than that. Well, that would break us all the way back down to the bout, almost like the six thousand six thousand one hundred dollar level for Bitcoin. Would I become bearish? Not necessarily. We would still be putting in a higher low. That would be higher than this low back here. So on a short term timeframe, that wouldn’t be too bad for bitcoin. Now, having a look at crypto cappo or crypto Cabo. Now, keep in mind, this guy, he did actually predict the $3800 dip. He says this time it’s different. Right. Obviously, a bit of sarcasm. And he’s sort of pointing out all these run ups that Bitcoin had. You know, obviously, he’s saying that we are in a continued bear market and that basically what we’re having right now should be no different. And we could be looking for a further dump, maybe a big double bottom out around the $3000 level. That is a possibility. If you’re a bitcoin bear and you’re looking to, you know, potentially short the market, that is that is a possibility. You can make money by logging Bitcoin and shorting Bitcoin. Right. However, having a look over here, this is what I want to point out. We have noticed that balances on exchanges have reached a six month low, which means that investors are pulling even more money off exchanges than we had even spoken about a week ago. So what does this mean? What are people looking to sell? Well, no, because here’s the other key metric. The number of Bitcoin addresses holding over one bitcoin has reached an all time of eight hundred and three thousand. So you could see right here that the number of addresses is actually increasing, showing that bitcoin bitcoiners are actually holding bitcoin. They’re pulling it off exchanges. They’re saying, I’m not interested in trading. I’m interested in holding the bitcoin right now. Now, maybe they’re excited. About the upcoming Bitcoin having, which is literally in about a month from today. So that could be one thing. I mean, having a look at this chart. Obviously Bitcoin inflation versus time. Where would you want to hedge your bets? Right. But I know what a lot of people are saying. Yeah. Yeah. We’ve been hearing about this for quite some time, but the bitcoin price has been doing nothing but going straight down, not really straight down, but basically down since the all time high of 20k in twenty. It’s three years later. What is going on? Well let me just point something out real quick, OK? So we were discussing basically gold having this amazing run up, right. Gold is literally acting as the store of value now before somebody chimes in in the comments. I know this is the gold futures chart. The physical gold chart is different. I know, but I’m just using this as an example. OK. Now, look at the last time that gold was at these prices. It was basically eight years ago. OK. So, look, gold had this peak up here at around 1900 and 20 bucks that it kind of did what Bitcoin did, where Bitcoin had that crazy, you know, volatility after twenty seventeen. And then it went into the twenty eighteen bear market. Well look gold had a very similar market. In fact if we have a look pretty much from the last time it was that price. I mean look at how long gold kept going down and down and down. I mean basically gold really didn’t start showing any sign of recovery until about two thousand three hundred sixty six days later. And considering the fact that, you know, we’re looking at almost seven years of gold losing value and going sideways and Bitcoin’s only been down since December of twenty seventeen. Right. It’s really not that bad. But I feel like because it’s bitcoin, people just expect prices to just move. But really what we’re having right now is an opportunity for massive accumulation. I mean, now everyone’s like, darn it, I wish I had bought some gold, but can you imagine holding gold for these eight years? Right. While it was just losing value, that’s what I’m trying to say. Hindsight is 20/20 and people can definitely get super impatient when it comes to these assets. But if you do believe in bitcoin long term, the way that I believe in Bitcoin long term, then really this is just a blessing in disguise. And yeah, I mean, if you’re looking at dollar cost average, now is the time to do it. Obviously, if you are looking to short bitcoin, you can do that obviously over on some exchanges such as buy it and other leverage trading platforms. But I mean, you could also just take this opportunity to hoddle bitcoin and accumulate. Right. If you do believe in it long term. I mean, actually, if we have a look at this right here, pretty much just looking at the bull bear cycle, I’ve gone over this a few times on the channel. But right now we are in what is considered the re accumulation stage, which is this purple box. And if you look at the previous to re accumulation stages, they weren’t that exciting and none of them actually broke the previous all time highs. I mean, look back here, when we had the high in the previous basically bull market back just before twenty fourteen at the end of 2013, we didn’t actually see those levels again until 2017 actually not until sort of the second quarter of 2017. So we had to wait that many years until we saw the price reach that high again. So imagine all the people in the previous cycles saying, well, this isn’t worth it. You know, bitcoin is going to zero, whatever. Well, look where we are now, guys. We’re exactly where we should be. I mean, if you look at the stock to flow ratio, obviously you realize that Bitcoin is basically just being bitcoin right now. One other thing I want to point out is not just the fact about the price and all that other stuff, but we had over here a we had one. No, sorry, 16. No. One hundred and sixty one thousand five hundred bitcoin essentially that was about one point one billion dollars. And look at the fee right here, 0 0 0 1 bitcoin. Now if we actually copy that and put it into the bitcoin price right now, look at this guys. You had 1 billion dollars worth of bitcoin moved for sixty nine cents. So forget that it’s bitcoin just in general. Where can you move 1.1 billion dollars on the most secure network on planet Earth for less than 70 cents? Now, I know there’s maybe some other cryptocurrencies that are faster, whatever, but they’re not as secure as the bitcoin blockchain. And I know people are saying, well, what about gold? OK, try moving an ounce of gold from here across the world in under 10 minutes for 70 cents. Not going to happen. Not going to happen, guys. You’re gonna have to send it in the post office, right. And I mean, unless you’re doing a digital transfer. But I mean, if you want to transfer the actual gold itself, well, that is one situation. So now let’s talk about the big news of the day and then let’s get on out of here. So the day has finally come for institutional investors at Fidelity Digital Assets. They can now trade bitcoin finally on U.S. based exchange. Harris has. I know it’s been a while, but it’s finally here, guys, so through a strategic partnership designed to increase cryptocurrency exposure for big players, Fidelity’s stable of vetted institutional investors will have increased access to Bitcoin liquidity. Why is this important? Well, if you aren’t aware, Fidelity Investments manages 8.3 trillion dollars in customer assets. Just think about that amount. According to the CEO of arris X, he says Our time tested and proven central limit order book ensures that the best price on the market is available to everyone. And they also had a comment from the head of product for FDA saying We believe that arris X is central limit order book exchange model is critical to the maturation of crypto markets coupled with their technical after Tudeh accessible order sizes and a robust regulatory framework. arris X is an attractive solution to securely access digital assets. Keep in mind the USCF T-C did grant arris ex a clearinghouse licence last year. In addition to spot trading, the New York based Digital Asset Exchange, which is also backed by giant brokerage firm T.D. Ameritrade. Okay, so this is pretty logit operates a cryptocurrency futures market. So this is big news, guys. This is gonna be more sort of exposure, I guess. You know, a lot of people think that all the investors that are going to be in are in right now. I don’t think that that’s the case. I still think that some people are not in some people don’t want to be exposed to something as crazy and volatile as Bitcoin. Right. It is considered quite risky, I mean, considering how small the market cap is. So this just brings it more validity. It brings it more exposure. And with 8.3 trillion in customer assets under Fidelity investment, it does sort of give a lot of potential liquidity to move into Bitcoin. Should it look attractive to these new investors. Finally, I want to end on one one sort of maybe this might, you know, concern some guys out there. I know quarantine is getting kind of crazy. I know I’m going a little bit stir crazy in my house. I mean, I’ve been trying to go for bike rides and hikes just to kinda, you know, get out in nature. But obviously, you can’t go out to any public places, which I mean, realistically, you know, whatever. That’s another story. But anyway, we do have the IRS announcing Friday that it was launching a tool for eligible U.S. citizens and residents who don’t usually file a tax return to be able to obtain the twelve hundred dollars from the government. So pretty much hours after this decision, you had good old Jack Dorsey over at Square saying you can get your twelve hundred dollars even if you didn’t file a tax return in 2019. So over at Square, you can download the cash app and this will basically allow you to have that direct fund of the stimulus into your bank account. And this is looking like it’s going to be launched on April 17th. So definitely check that out if you have it. And yeah, I think that’s it for me today, guys. So thank you so much once again for coming back to the channel. If you’re not subscribed, do consider getting subscribe. We make these updates for the most part every single day. We also have a free telegram group up here. If you’re interested in joining, it’s totally free. You know, you could just hang out, talk crypto with a bunch of other like minded individuals. And obviously you guys know, you know, if you do want to support the channel, I do have links below. You can sign up for by bit. You could buy yourself a ledger. Doesn’t matter to me, though, guys. All it requires you to simply stop by, say hello, drop a comment, and that’s good for me. So thank you so much for coming back again. You guys rock. I do love you. My name is K-Dub. This is Crypto Zombie. Until next time, stay crypto and of course, peace out.


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