So, guys, welcome back to another video. So in today’s video, we’re going to be talking about the Bitcoin price testing, this 200-day moving average and what that could mean for the price going forward. We are also going to be taking a look at the theory. I’m breaking past that two hundred dollar level and we’re currently at around 206 dollars. We’re going to be taking a look at that in today’s video. We’re also going to be taking a look at my trade on a Phoenix. And we are also going to be looking at the Bank of Canada exploring digital currency. This could be absolutely huge. And they also talk about how cryptocurrency is also a threat to that. So this is a huge article. Then we’re lastly going to be taking a look at riots in Lebanon city and make the currency crash. And it is going absolutely crazy over there. And this is one thing that inflation, hyperinflation and just a whole complete crash of the currency can do to people. So all that good stuff is coming up in today’s video, guys. Sit back, relax and get ready for the video. All right, guys. So welcome back to another video. Thank you for joining me again. You may be wondering why the camera and the screen looks a little bit different. Unfortunately, I did actually really badly hurt my ankle. So I am on crutches and I cannot walk, so I can’t really bring you the same set up that I usually do. I’m on my laptop with a webcam and hopefully, the audio on webcam sounds fine. But without any further ado, guys, let’s get started. And if you haven’t already, let’s try and reach that one K like a goal. And if you haven’t already subscribed and you do like my content, make sure to subscribe and take that notification bill and you’ll get updated when I next post. As always, guys, we’re still doing the giveaway. So drop your comments down below. If you do want to be entered to win that Tresa storage device, just simply drops a comment down below. It can be absolutely anything. So, guys, let’s get into the video. Really, really interesting times right now, guys. Bitcoin is actually closed and kind of very close and almost crossing its 200-day moving average. It is really, really, really exciting. I did want to give you a brief overview of the 200 days moving average. First of all, I want to put it out there. Don’t get too excited. And everyone goes and open oblong positions. If we all go over this 200-day moving average, we can see in the past we have shot over here. Nothing really came from it was shot over here. Nothing really came from it. And then again, we shot over it back here back on the start of January. Yes, we did have a nice pump after we crossed it again. Yes, we did have a nice pump after we crossed it. But then it led to a downward pressure selling pressure. So if we do cross over this 200-day moving average, which is actually right here, yes, it will be very, very nice for Bitcoin. And yes, I do think that is bullish. However, just be careful, because if just because we cross over the 200-day moving average, it does not necessarily mean we are going to be pumping to the moon. Realistically, yes. If we do have a continued close above the 200-day moving average, it could be something like this here where we see absolutely crazy price growth here. And when it, in fact, did cross over that 200-day moving average in April of last year, we saw growth of up to 200 percent in Bitcoin, which is absolutely crazy. However, the bitcoin price is now just crossing literally above it. As of filming this, we are at eight thousand dollars. Whether it stays there or not, that will be really, really interesting. I know my eyes are definitely going to be glued to the charts over the next few days, which as I mentioned in the last video a day before yesterday, one, two, three, four, five, six, seven. We didn’t it did, in fact, have seven green candles on the daily chart, which is really, really nice. We did have this red one here, which is a little bit ruining this nice projection towards the upside. However, today’s candle is really, really nice and it is very, very bullish. So my price target for Bitcoin, if we cannot cross over this 200-day moving average, I don’t see any reason why Bitcoin can’t go into this. Eighty-five to nine thousand dollar range. It’ll be fairly normal, to be honest, if we did cross over this 200-day moving average to continue to pump upwards. There’s not really a whole lot of support here. Maybe at a four, 83, 80, 300, there’s a little bit of resistance towards this lower end. But I don’t really see if we break above this 200 day strongly with of volume. I don’t see any reason why we can’t be going into this 84 to nine thousand dollar range. It should be hopefully happening. If the volume is supported and everything goes to plan, that’s really it for the Bitcoin price. That’s the main thing I wanted to get out in today’s video. I did also want to talk about a theorem, guys. Let’s go over and have a look at the theorem so you can see backor quite a while ago, actually, on the 17th or 16th of April, a theorem actually went ahead and crossed over this 200-day moving average, which is really, really bullish. As I said before, in Bitcoin, when an asset does in fact cross that 200 days moving average, a lot of traders, a lot of money starts to come into the market because we could potentially be seeing more bullish terms. And that did, in fact, happen for theorem. And we are continuing to rise in price. We brought this to. Hundred dollar level of resistance, which we are having a lot of problems up. We were testing it multiple days, three, four days. We were testing it. Finally, we have broken above it at 206, nearly 207 dollars. And it’ll be exciting to see where theorem goes. We could potentially go up to this 250 million mark and find a little bit of resistance. However, my short to medium-term goal for a theorem, if we do continue this way, is two hundred and fifty dollars or Peire, which would align with the peak back here before the dump. So it was looking really good for a theorem. Again, this 200 day moving average, showing bullish signs for a theorem and hopefully join bullish signs for Bitcoin as well. If we can break above it, have a reasonably nice amount of volume. So I did want to talk about my trade on Phoenix. Now, this trade was really, really risky. I did, in fact, go in with a 20 X leverage you can see here, which I never, never, never recommend. However, I had a little bit of Bitcoin left on this exchange at about point two five Bitcoin. I wanted to open a trade. I opened it a little bit a while ago. I think back here maybe on the twenty-eighth or twenty-sevenths of April. It’s in a nice profit. It’s in currently around 70 percent profit with around 1400 dollars in profit. Now, I just want to put this out there again. Do not trade on 20 X. I’ve been trading for many years now and I can afford the losses if I was to make a loss on this trade. If you are new to leverage trading trade on one or two X at the most, if you’re more experienced, maybe five to 10x at the absolute most. Usually, I trade on seven to 10. However, I just wanted to end this trade just because I thought it was an interesting trade to take. If you guys were interested in joining Phoenix, I’ll be a link down below. If you use mailing specifically and deposit zero points two Bitcoin to your trading account of Phoenix. You’ll actually get a free hundred and twelve dollar bonus, which is really, really nice. Sought the links for that will be down below. Now, guys, let’s go ahead and have a look at this. This is a crazy, crazy article. The Bank of Canada exploring digital currency that would replace cash and track how people spend money. This is absolutely crazy because, with a digital cash system, the government will actually be able to track how you spend and manage your money even more than they currently do. Which is kind of scary in itself. The Bank of Canada is considering launching a currency that would help it combat the direct threat of cryptocurrencies and collect more information on people, how people spend their money. This article does go more into crypto later, and I will be bringing you that in today’s video. An internal Bank of Canada presentation prepared for Governor Stefan Pollos and the bank’s board of directors offers the most detailed public insight yet into the bank’s thinking on the on a papyri proprietary digital coin. If I can get that out, according to the presentation, the currency will be widely available. It would not initially co-exist with coins and paper money. It would initially coexist with coins and paper money, eventually replacing them completely. So they were most likely introduce it as an alternative form of payment and then gradually withdraw the cash from the system and then go completely digital. We need to innovate to stay in the game. The president presentation reads, A digital currency will provide all the benefits of a central bank. A bank asset, it says, as well as the convenience and security of wireless electronic payments. They suggest a digital currency would come with the option to pay interest on balances and the ability to collect more information on Canadians than is possible when people use cash. Personal details not shared with AP, but could be shared with the police or tax authorities. Yeah, this is a really interesting point. Let me know Downbelow in the comments that will also enter you to in that trade storage device. If you think the government having the ability to track even further what we spend our money on, because, of course, they are already tracking it now. However, with a digital cash system, they will be able to try and they will be able to track literally everything we are doing. Let me know how you feel about that and if you think it’s a good thing or a bad thing. The article goes on to say, The presentation suggests two deployment options for digital currency token based on account-based. It warns that banknotes are becoming obsolete as a means of payment, creating problems for the banking system as a whole. The time may come that merchants and banks find it too costly to accept banknotes, which is crazy, and it goes on to say it happened. If that happens, ordinary Canadians would lose access to central bank money. But the bank’s ability to carry on, carry out monetary policy and act as a lender of last resort would not be affected. It goes on to say the currencies may become a direct threat to our ability to implement the monetary policy and lender of last resort role. This is crazy that they are admitting that cryptocurrency could become a direct threat. Cryptocurrency is growing. As of July eight, as of July 2018, a study from the bank found five percent of Canadians own Bitcoin. Up from two-point nine percent the previous year. I think if digital currency comes up in such a huge country, an economy like Canada, this could be absolutely huge for Bitcoin, as people think. Why would they own that? The state-issued currency when they could just own Bitcoin, which is completely decentralized. And the banks would have no control over what they do with their money. So this is a really, really interesting article, guys. Definitely. Let me know what you think about it. Downbelow. I personally think it’s good for cryptocurrency. However, it’s interesting to see that they acknowledge that it’s a threat, that crypto is actually a threat to them. Going over the last article now right in northern Lebanon, city amid currency crash. So it’s absolutely going crazy over there, guys, right now. Clashes broke out between protesters and security forces in northern Lebanon Monday amid a crush in the local currency and a surge in food prices. Dozens of young men smashed the fronts of local banks and set fire to an army vehicle as the protest turned into riots, which is crazy. The Lebanese national currency hit a new record low over the weekend. We thought 4000 Lebanese pounds to the U.S. dollar on the black market while the official price remained at 1500 pounds. Tripoli is the capital of northern Lebanon, where the unemployment is among the highest in the country and poverty is widespread. Earlier Monday, scattered anti-government protests broke out in several parts of the country, leading to road closures that prevented medical teams from setting out Beirut to conduct coronavirus tests across the country. So it’s causing a lot of disrupting also, which is absolutely crazy. A woman carried a placard reading my salary buys me two cartons of milk, much going to work and earning a salary. And because of the government‘s inability to keep a stable currency, that’s a subject for another video. This woman’s full salary can only buy two cartons of milk. That is absolutely crazy. And this is exactly why Bitcoin is needed on Sunday night. The Central Bank of Lebanon issued a circular instructing currency exchange shops not to sell the dollar for more than three thousand two hundred pounds. So then now they’re trying to set the currency rate even though their currency is crushing. On Monday, most exchange shops were not selling dollars, saying claimed to have dollars are refusing to exchange the hard currency at such a low price. Earlier over the weekend, several banks in northern and southern Lebanon were attacked, some with firebombs reflecting rising public anger against banks that have imposed capital controls on people’s accounts. So Krypto completely removed this from the situation. No one can control your crypto wallet. No one control what you buy, sell or use it for. This is just another great argument for crypto. So let me know your comments. Downbelow guys. That’s pretty much it for today’s video, guys. I will try and bring you as many updates as possible. Unfortunately, I am on these guys right now, so it’s really not too convenient and quite painful to sit down at a desk and stand up. I cannot set my lighting normal lighting on normal camera configuration as it’s just not possible for me to do that. But I will definitely be bringing you as many updates as I can. As always, guys, if you do want to join a Phoenix and trade with leverage if you are a more experienced trader. Definitely use my link down below. As you get 112 dollar bonus if you deposit zero points to Bitcoin or more. So thanks for watching today’s video, guys. Hopefully, I’ll see you around and I’ll catch you in the next video.