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Bitcoin Bump’n’Run Reversal PUMP… & another DeFi Scandal!!!

VIDEO TRANSCRIPT

On the 17th of April, 2019, I uploaded a video with the following title, Mindblowing Bitcoin’s Bump and run reversal bottom, and after the bottom of approximately three thousand one hundred U.S. dollars, the price of bitcoin went all the way up to approximately fourteen thousand U.S. dollars. And if we have a look at the charts right now here on the Bitcoin eight-hour chart and also the Bitcoin for our chart and other time frames in that area, we see almost exactly the same pattern again. Does this mean that the bottom for the price of bitcoin is now finally in that I’m more in this episode? And with that said, what is going on, everyone? Sunny, decree here. And welcome back to another episode. Although I already uploaded a video about the bump and run reversal back in 2019 here in April 2019. I want to give the credits for this to M.M. Crypto. He’s another cryptocurrency, Bitcoin YouTuber. He’s also represented on Twitter with the tag at Amum Crypto. He actually does this out again because Bitcoin real looks like that it forms another of these bump and run reversal patterns. Now, how can we figure? Well, basically, it is all about this trendline right here. And as you can see here in the lead, in the phase of this pattern, we have three touching points. And here before the uphill run, we also have multiple touching points. And what’s very important is that right here we have the throwback back to this trend line and it looks like Bitcoin bumped off of it. Okay. So what we have typically in the bump and run reverse, what we’re looking for is a round bottom, which indicates a bottom formation in general. But we do not have that. We have pretty much the exact same formation as we had here back in April 2019. The price was only at five thousand U.S. dollars back then and it went all the way up over a couple of weeks, over a couple of months to fourteen thousand U.S. dollars. And we’re exactly the same point again. Now, you guys know me. I personally find such patterns very subjective. They do not guarantee that the price of bitcoin has to pump right now. I’m personally more interested in fundamentals, but we also have to admit that technical analysis is some kind of a self-fulfilling prophecy. And if more traders are actually looking at that, well, it is pretty much the same with traders looking at marks of ten thousand dollars, for example, or on other psychological levels. OK, so we definitely want to have this on our radar. We definitely want to keep this in mind. Yes, this potentially could be an indication that a pump is imminent because I already told you a pump is imminent. We’re going to have a look in this video. Why also fundamentally a pump is imminent. And I still stand with that prediction. And no, I personally do not believe that we’re going to see the low levels. The bears are calling right now one thousand dollars, one thousand two thousand dollars. But we also come to that later in this episode. But before that, what we’re going to have a look at once again is the b.l. X, take her to the brave new liquid coin. Take her. And here you can see the dashed lines which represent the whole things. This the first morphing 2012, 2016, the upcoming huffing here in 2020. And as you guys probably already know, and only 22 days, the Bitcoin hall thing, the third bitcoin hall thing is about to happen. Now, why am I so sure that a bitcoin breakout, a bitcoin pump is imminent? I’m going to show you multiple reasons in this video. First, the bump and run reversal pattern. But that is the least significant indicator to me personally. The second one is that we just have a look in history and what happened in history before at. And also post having. And what I’m about to show you right now is definitely very interesting. What we’re looking at in here is also the b.l. X ticker, but not on a monthly, but on the weekly chart. So we see them in a little bit and see what is happening. If you have a look at the current situation here, we’re talking about the top of twenty thousand U.S. dollars. Then Bitcoin plunged all the way down to approximately three thousand one hundred dollars, went back up again after this bump and run reversal right here to fourteen thousand U.S. dollars. Then back again, flash crashed with three thousand eight hundred and currently, we are at approximately seven thousand U.S. dollars. So, of course, that is a lot of volatility. But let’s go back in time and see what the history tells us. And for some of you, this might be a surprise, but Bitcoin has always been very volatile pre having the. Now, look at this here. The all-time high back in the day was approximately 1200 U.S. dollars. Bitcoin plunged all the way back down in the bear market, too, believe it or not, approximately one hundred and sixty-six U.S. dollars. Then it went back up and here again, approximately five hundred dollars plunged again to approximately three hundred and fifty U.S. dollars. There was no new all-time high before the Bitcoin haul thing. There was this pump right here, but no new all-time high. And then after the bitcoin haul thing, the price went parabolic and bitcoin formed a new all-time high a. A month after the whole thing in 2016. But luckily, we don’t choose to have to haul things. We have three. Now let’s go back to 2012 and see what happened right there. And here it’s getting even more interesting. And I really like to look at these numbers and I think that they are very important to keep that in mind. Here we’re talking about an all-time high of, believe it or not. Thirty-two US dollars that used to be an all-time high back in 2011. I mean, just think about buying Bitcoin for thirty-two dollars. How great would that be? That Bitcoin plunged all the way back down from thirty-two dollars to two dollars, went back up again to $7, plunged again here to three dollars 70 went up again to approximately fifteen dollars. And even after that, fifteen dollars plunged back down again to approximately eight dollars went into the having. And once again, what a surprise. After the bitcoin halting the price went absolutely parabolic in a couple of months, approximately two, three months after the bitcoin offered in 2012, we saw a new all-time high. Now, if we go back to the Bitcoin monthly chart, well, of course, we had a flash crash approximately three thousand eight hundred US dollars. But nothing is telling us in here that we should go back to 1000 dollars or one thousand two hundred dollars. But we also have to be fair here. We didn’t have Colvert, 19 back in a day in 2012 nor in 2016. We weren’t at the start of a potential recession. So far, Bitcoin has never been in the environment that we’re seeing right now into the traditional economy. That has to be something that we have to keep in mind. But so far, nothing is telling us that bitcoin shouldn’t go up further and that bitcoin should not moon post bitcoin thing in two dozen and 20. But let me know your opinion down below in the comments section. What do you think about the Bitcoin history and are we’re going to see exactly the same thing. Are we going to see another parabolic face for the price of bitcoin? Offered a bitcoin whole thing. Let us know that down below in the comments section. And now let’s move on. And here’s the third. And to me personally, the clearest indication that the price of bitcoin is about to moon, that a big pump is imminent. And that is not just the m-one money stock, which is going absolutely vertical. The Fed is completely freaking out, just printing money, but not just U.S. dollars are getting printed, but also U.S. dollar teather. We’ve been talking about that already in a previous video about the big jump from approximately 4.6 billion U.S. dollar Teather up to more than 6 billion, but we’re still going up. We’re now at approximately six point four billion U.S. dollar tethers. So there is the most money sitting on exchanges right now in stable coins. And what are they doing? Well, they’re not shorting Bitcoin. They are waiting to buy Bitcoin. They’re waiting for the right entry. There is no other reason why there should be so much money parked in stable coins on exchanges. To me personally, the signs are clear. Whales are waiting to convert those stable coins into bitcoin, into cryptocurrencies. All right. But now from good news for Bitcoin and crypto as a whole. Back to some bad news. We can attack drains decentralized protocol de force of 25 million U.S. dollars in crypto. And if we have a look at this chart and here you can see that 99 percent of this smart contract off this decentralized finds in here got drained out. And this is what I’ve been saying for so long, guys. First of all, there is no decentralized finance yet except for bitcoin. And I’m gonna prove that to you. Bitcoin is decentralized, but the DFI products that are around are not here. You can see the drain in this lending scheme de force. And now, believe it or not, what they are saying we temporarily passed lend f dort me. Now how decentralized can this DFI really be? If they can just posit, well, you guessed it right. It is not decentralized yet. I’m not saying decentralized finance is not a thing in the future, but we’re not ready yet. And that is also why bitcoin core developers have their first priority insecurity in making bitcoin survive and not putting complicated SMAR contract which obviously can be hacked, which have backdoors and so on. Many, many issues. OK. We are just not there yet and I’m personally telling you right now. Of course, if you’re just speculating, if you want to earn some interest rates, well, you can use those products. But please do not believe that they are decentralized because they are not yet. And stuff like this is happening pretty much every single month or pretty much every single week right now. That is the truth right now. That is reality. But that is it already for today’s episode. If you enjoyed it, please make sure to leave it like. And if you are interested in leverage trading or just diversifying, relive its trading platforms. I recommend the Femm X platform. A video tutorial is popping up by my site right now. Make sure to check it out with my sign Bling Double-O. You can get up to one hundred and twelve dollar bonus. Thank you guys very much for. Awesome support, and I hope still a few tomorrows in the next one bye.

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