What’s up, guys? And welcome back to another video. So in today’s video, we’re going to be talking about the exact reasons why the world needs Bitcoin and it needs Bitcoin right now. In today’s video, of course, we’re going to be taking a look at the price action of bitcoin. And this a very nice pump that we had recently. We’re also going to be taking a look at why bitcoin is needed so much over in Egypt to actually actually limiting cash withdrawals, which is just ridiculous. Bitcoin solves this and we’re going to be jumping into how and why. We are also going to be taking a look at Mark Kaisa saying gold is toilet paper for the rich and bitcoin is for the poor. Then going to go on and jump into taking look at a 633 million dollar transaction worth of bitcoin for just 26 cent, which is absolutely crazy. Try moving this amount of gold for the cost of bitcoin. It’s just not going to happen. So all that good stuff coming up in today’s video. Definitely. Stick around and enjoy. So guys, if you haven’t already. Make sure to smash those thumbs up if we can hit 500 likes. That’ll be great. We’ve been so close to in the past few videos. Not only that but if you can subscribe and take that notification, Bell should get notified when I post my next videos. And as always, guys, if you haven’t already left your comments, I know you most likely have dropped your comments down below in the comments section to be entered to win that Tresa storage device or the equivalent in Bitcoin. So get your comments down there right now. So if we take a look at the bitcoin price on the four-hour chart, we can see we are actually in somewhat of a rising wedge scenario. Now, usually with a rising wedge scenario, the price would actually break to the downside. So we would come up here. Test, test, test. And then it would break usually to the downside. Now, of course, we know this is bitcoin and we know that that does not always follow. If we take a look at recent price action, we can see the bitcoin actually had a really nice pump from the sixty-two sixty-three hundred dollar level and we pumped up to pretty much the bottom level, the bottom of the twenty nineteen. If we go over to the one day chart and take a look at twenty nineteen, we can see that bitcoin pretty much pumped up to the bottom of twenty nineteen which is around about six thousand six hundred give or take. Now the current price we are is really, really interesting. We have a couple of ways that we could go with the bitcoin price. And I did say before we are in this rising wedge, this could potentially break to the downside. That’s what they usually do. However, this is bitcoin and it doesn’t always play out like that. We do have this level of support here at a between 60, 200 to sixty-four hundred dollars, which could come into play if we did decide to go downwards. I really would like to see us testing these recent highs here of sixty-eight hundred and then potentially testing that seven seven K range seven points one seven-point two K range and breaking above. Even if we break above that seven K range, we would still technically be in this channel. So I would like to see a break out of this channel, something like this, a break out of this channel. If I do want to continue being bullish on bitcoin. And of course when I see this, guys, this is only in the short term we’re looking at the four-hour chart. If we go onto the day cha or the weekly chart and zoom right out, of course, I’m still very, very bullish on Bitcoin. And you guys all know that this is just the recent time’s gold charts. We do take a look at that 20 days moving average in the blue. We can see that once again. We are pretty much I wouldn’t say we bounce from it, but we went below it and we immediately bounced on this rising wedge up to the price we are at now. And we actually saw some reasonably nice gains. We saw gains of around about 7 to 8 percent, give or take, over the past few hours, which is really, really nice. Also, if you are part of the trade calls actually called this short here from about sixty-five hundred down to around roundabout sixty-two hundred. So that was about a 5 percent profit. And if you were trading that leverage you could have made a lot of money. So that was a great trade call. There’ll be a link down below of course. So that’s pretty much the bitcoin price. I mean there’s nothing really much more to say. There are a few more scenarios that we could play out and I will be going over those in future videos. But for this video, I just wanted to cover this wedge and that’s pretty much it. So, guys, let’s take a look at the crazy news article for today. And this image here with the pyramids and Bitcoin in the background is rather nice, actually. So we can see here the Egyptian central bank limits, cash withdrawals, bitcoin fixes this. The Egyptian central bank has instructed banks across the country to apply temporary daily withdrawal limits on deposits. This latest move means meant to control inflation in the country and prevent citizens from hoarding cash during the pandemic. The daily limit for withdrawals is about 10000 Egyptian pounds, which is around about 600 US dollars. And of course, $3000 for companies only businesses that need to withdraw money to pay their employees will be exempt from this withdrawal. The restrictions are coming after a massive wave of withdrawals from the bank across banking banks across the country. Sorry. Central Bank Governor Taric stated on Sunday that as much as 30 billion Egyptian pounds or 1.9 one billion dollars were taken out of banks in the last three weeks. This is absolutely crazy. 1.9 billion dollars were taken out of banks in the last three weeks. If you don’t know how banks work, if you go ahead and deposit $10, they don’t just hold onto that $10 in your account. And if you want it back, you go to the bank and you get that $10 back. That is not how banks work. They only keep a small percentage of that on hand and the rest of it they loan out to make money. Of course, it’s a business, but it is absolutely crazy. And Egypt has prosperity for high inflation, which could deepen the crisis further. Of course, guys, we all know the bitcoin fix is this and we all know the saying, not your keys and not your coins. In this case, if someone can restrict your money, it’s not really your money. So let me know down in the comments, guys, right now, after you smash that like button if you agree with this. If someone can restrict your money, it’s not actually your money. I really agree with it. I think it’s a great point. And by letting me know your opinions down below, it will enter you into the trees at storage device giveaway so no one can limit your bitcoin. Of course, we know about no banker can step in to decide how much you can choose to transact. Of course, bitcoin saves that. So this is a really interesting article about Egyptian central banks limiting cash withdrawals. All right, guys. So I’d like to take a second just to say big thank you to the sponsor of this video introduction. Now, the introduction is basically a perpetual swap exchange, which is pretty much like you can trade futures. However, there is no expiry date. So introduction actually has a really nice UI and layout and you can actually move things around like so you can pretty much customize the way you want to trade. Not only that, but they have fairly good volume for a reasonably new and up-and-coming exchange and they make it very, very easy to actually go out there and trade. One of the big main reasons I love into DACs though is simply because of their sub-accounts. So unlike on other exchanges, you can only have one account, and if you want to have a sub-account, you have to make a whole new account on interact. You can actually just simply make a new sub-account. So basically what a sub-account allows you to do is you’re allowed up to 10 sub-accounts and you could potentially trade different positions in different scenarios on each different account. So maybe you want to go long on your main account and short on your some account. This makes it way better to trade on something like introductory as you can cover both potential options as to where the price is going to go. Not only that, but they also have some legal battles as well, which is really, really cool. Basically what bottles are is they’re trading competitions. However, there is a prize pool and literally every single day and weekend they have trading battles. They had a competition in the past where you could win three BTC and is actually not a whole lot of people competing in them. You can see here. So I’m pretty sure most of you guys out there can beat these 13 people. So if you did want to get on board with these trading battles. Check the link down below in the description and you can actually join introduction day and have weekly or daily. Monday, Tuesday, Wednesday and so on. And throughout the week, trading battles where the prize pool is 0.05 BDC and they have a weekly one where the price is zero points to five BTC. The entry is actually 0.1 BTC. Sorry. So really cool trading battles and they are so simple to join. Let’s say you want to join. Choose the battle. You simply click on it. Click, join. Have zero points zero to five bitcoin in your account which I do and simply click join you then enrolled onto that trading battle for that day and you can simply compete in that trading battle. So once you join the battle, if you actually go up to your accounts, you can see Tuesday tussle is already transferred that the trading Andrew acquirement to the Tuesday total trading so account. So you’re all ready to go when Tuesday hits. Just check the countdown timer in the 13 hours. You can go ahead and trade to potentially win the prize of 0.05 bitcoin. It’s a nice little prize to have and it is a great incentive to actually go out there and improve your trades so they can become more profitable. So that’s been introduced. Guys, I really thank you for watching the segment, the video, and a huge thanks to introduction for sponsoring this video to go onto the next title here. Gold is toilet paper for the rich bitcoin. For the poor. Basically, Kaiser said that the coronavirus pandemic will push a billion as into gold as a safe haven once supplies are bought up and stockpiled. The only alternative to gold left is bitcoin. I predict this is not only the ultimate use case but the ultimate irony that once people realize they can get gold, they’ll start flocking in the masses to bitcoin. Now I. Kind of somewhat agree of that, too, a little bit of an extent, I don’t agree with this title. However, I do agree with a lot of rich people are going to be flocking into gold and hopefully, some of that flow will come into Bitcoin. A lot of people see Bitcoin as digital gold, so that could potentially be true. However, gold has a number of drawbacks over bitcoin in contrast to the currency. It’s costly and risky to move. As I said before, you can literally move over one hundred thousand of bitcoin for only 26 cent fee, which is absolutely crazy to think unlike the financial crisis of 2008. Gold mines are shutting down over the coronavirus, ironically stifling the opportunity to boost the supply. So we all know that bitcoin has a limited supply of 24 million. However, right now gold is having somewhat of a limited supply temporarily because of the mines shutting down and not really being able to physically mine gold. So that’s a really interesting point. And if the gold supply is diminishing, then people may start putting that money into Bitcoin as bitcoin supply is limited. Regardless of a what pandemic, what financial crisis is going on, the bitcoin supply is limited. Remember, billionaires think of gold and silver as the way unemployed. Think about toilet paper. This is a crazy article and actually a really good read. Moving on to the final one now. Basically, I’ll sum it up, over 100000 bitcoin were moved about 633 million dollars for only 26 cents. This is absolutely crazy. And as I said a few seconds ago, it ties back to this article saying how could you move 600, over 600 million dollars worth of gold for 2016? It just wouldn’t happen on any scale. And it basically goes on to say some people would be scared that it could end up on a cryptocurrency exchange and basically dump the market with that amount of bitcoin. However, it was actually a Hong Kong Cassity, basically a large based cryptocurrency custody company. The Zeppo completed the internal transfer with those funds. So that summed up the rumours that there’s not gonna be a bitcoin dump with Bitcoin. So, guys, that’s pretty much it for today’s video. If you did enjoy it, don’t forget to smash those thumbs up and subscribe to the channel with the notification bell ticked for you so you can get notified. On my daily uploads, not only that but take a look at the bitcoin blueprint linked down below in the description. So you guys can save $100 and hopefully learn some more information about making profitable trades on the way. So thanks for this video, guys. I’ll catch you in the next one.