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BITCOIN: Is FED’s $6.2 Trillion REALLY a Good Thing?! BIG Trouble for BTC if THIS Happens!!

VIDEO TRANSCRIPT

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 start to your week. That’s right. Back on the grind. And Bitcoin has surprised us with a beautiful green day. In fact, we started to dip overnight. We got all the way down to five thousand eight hundred forty three dollars and we did have a beautiful bounceback. So this is short term, pretty positive news, right? We are going to dive in and look at it because currently there is some very mixed sentiment right now going on in the crypto space. I’m seeing some people say, nah, this is just a fake out. We’re definitely going down to these lower levels. Some saying we’re going to retest the three thousand eight hundred dollar level. You’ve seen some Bitcoin bulls turn Bitcoin bears. Not only that, but the community as a whole. You’ve seen Twitter accounts drop off, YouTubers stop making videos. So I kind of want to address some of that today as well. I also, of course, do want to talk about the 6.2 trillion dollar stimulus package and how that’s going to affect things like, you know, stocks and, of course, cryptocurrencies like Bitcoin. And finally, I want to talk about how blockchain technology, in my opinion, is definitely here to stay. And I want to show you a few examples as to why there are still a few reasons out there to be very bullish or at least positive for blockchain and even Bitcoin in the future. Coming times, if that sounds good to you, you know what to do if you are not subscribed well to consider it. Thank you so much. Without further ado, let’s dive straight in. However, not going to lie. Kind of feels like this right now, right? It’s a little scary. We keep seeing these lower levels now. You know, short term bitcoin has been putting in a higher low, which is good. You could see right here, you know, this, for example, right here, this was actually technically a higher low than right here. However, the actual solid candles are still at around the five thousand eight hundred dollar level. Now, actually, in the last video we put out, we talked about this level specifically and that’s exactly where we had the bounce. We are still currently under the original trend, though we do need to get back above this right now. We were saying that this right here kind of looked a lot like that up there. Well, we know what happened when we got to the end of that channel. We had a massive dump right here. So if we have a look. You actually look, I expanded this down. Basically, this was up here. We fell out of the channel. So maybe what we’re putting in is just a gigantic sort of upper. Some people are saying it’s a, you know, bear flag. You know, this could be the hartline. So looking at these levels right now, we would look for that sort of resistance again at around the 6.5 K. level. Now, you can see right here, we did break back above the line, but we haven’t really had a very strong move with tons of volume. Right. We are still above it over here. Having a look over at the bit you hear the bitfinex. Now, one thing that some people are pointing out is the fact that we have put in a new CMF futures gap over the weekend in order to close that gap. That would be around six thousand six hundred and fifteen dollars. So we could potentially see Bitcoin get back up to that level, but it may not stay there. OK. Just because, you know, we go to six thousand six hundred fifteen doesn’t mean that that means we’re gonna blast right through it. I’ve seen us just close the gap and then instantly walk back down and continue in the same direction. So I do want you to be careful. It could be a good opportunity to potentially trade, not financial advice. You know, you may be able to, you know, get a nice trade in on there, but just be careful because I have seen these play out very quick and then continue in the same direction, which currently right now we do have a pretty strong downtrend. Right. The good news there is positive news. We are still above the 200 weekly, which is still sort of around the 5000. It’s almost like five thousand six hundred dollars right now. But we do have this 21 exponential coming down here now at some point. You know, these two lines are going to meet. I don’t know exactly where. And that’s going to put a lot of pressure on Bitcoin. And it’s going to have to make a decision very quick. And it’s probably going to be a very big move. We do have some time for that, though. No need to freak out. This is the weekly chart. Probably have another month or so until we see that happen. But just keep in mind that right now the 20 an exponential is sitting at around actually the same level we’ve been talking about pretty much the seven thousand eight hundred dollar level, which I’ve said for the past three videos. Now that is my personal level that we need to get back above for me to be like hard core bullish again for bitcoin. Until then, you’re just kind of jumping around in these choppy waters. Now, if we have a look at what filled Fildes said, keep in mind he had a really great analysis for his 12 month forecast. Right. He’s calling for retesting down here again at around the 3.8 K. level before then having a bounce back up to the 7.2 K. So we could see some very volatile moves, some kind of depressing moves, short term for Bitcoin leading into the having. So the question is, you know, for the next month and a half. Do you have strong enough hands? You know that that is the question right now. I’ve seen a lot of people saying they’re selling their bitcoin right now. You know, some need it because they’re obviously dealing with. The virus in the situation at hand. You know, people do need money to pay their rent, pay their bills. You can see right here Peter Brand. He’s one of the legendary traders. Lots of people respect him. You know, he says U.S. Congress is in a time capsule sent from 1930s price action. Last Friday was notes were headed to negative rates. Gold look out above stocks. Pathetic. And somebody actually said, what about bitcoin? He said, for bitcoin, this is the perfect storm. If bitcoin can not rally on this, crypto is in big trouble. And I do think that this is the moment that we’ve all been waiting for. This is sort of the time for bitcoin to shine, right? This is what everyone’s been preaching. This is what all the Bitcoin maximalists I’ve said, this is what I’ve been reading. You know, I’ve been in crypto for over three years. This is the narrative. We’re waiting for this to play out. So it’s very important to see what Bitcoin does, especially leading into the end of this year through the having in a downtrend and during a pandemic. This is literally will end during a financial, you know, economic situation like we’re having right now. Now, for example, we also do have tôn days. You guys may know tôn days probably right now. He said in his latest episode that he has repeated his previous claim that bitcoin should bottom at 20 percent of its 2019 high. His level was two thousand eight hundred dollars. However, he just came out and said I don’t think it’s likely anymore. He said that after March 12th when bitcoin bounced off the 15 month low at around three thousand seven hundred dollars, he now thinks that we will not put in any more lower lows. He says because of the incident, he thinks that was close enough to the two thousand eight hundred dollar level. So he’s no longer expecting it. Now he does say it’s very possible. Keep in mind that Big Macs crashed. He said if it didn’t crash. He thinks that we could have actually seen those levels happen already. But because we already had that with that crazy Wyk down at three thousand eight hundred, he does say that that is the bottom. Now, having a look at the last three months. This is from sentiment. So this is essentially the Bitcoin sentiment, negative versus positive versus price. And you can actually see right here, interestingly enough, that they basically say Twitter, at least according to them, and their social graphs are saying that there’s positive sentiment, at least on Twitter. Maybe this is because it’s only the diehards that are really left after the shakeout or maybe people are just becoming optimistic with everything that’s going on globally right now. Now, just to kind of point out what’s been happening, essentially in just one week, the U.S. Federal Reserve printed five hundred and eighty six billion dollars, setting a new all time high record for its balance sheet. And yes, you read that right. To put that into perspective, the Federal Reserve is essentially printing about a million dollars every second. That’s pretty incredible when you break it down. In fact, we look at the historic 6.2 trillion dollar stimulus package right now, which is aiming to help individuals and businesses in need. And if you’re not sure what I’m talking about, let me just play this clip super quick to refresh your mind. The beautiful thing about our country is 6.2 trillion because it is 2.2 placefor. It’s six point two trillion dollars. And we can handle that easily because of who we are. What we are. It’s our it’s our money, it’s our we are the one our currency. We can handle it. But Dan Moorhead, the CEO of Pantera Capital, now, you might be familiar with these guys. They actually let a lot of really good investments in some of the all coins that did very, very well in the twenty, seventeen boom. Right. Basically, he says that the bitcoin price is set to surge during this economic crisis. In fact, Moorhead predicts that bitcoin price could reach an all time high within 12 months. Now, a lot of people were thinking we were gonna reach highs this year. I was one of those people. We were not expecting this virus to hit and we were not expecting this crazy lockdown and shut down and printing of, you know, crazy amounts of dollars like we’re seeing today. I think it kind of changes the picture a little bit. Long term, you guys know I am a Bitcoin bull. Short term people need money to pay bills. It’s basically that simple, right? It’s difficult to speculate on an asset that moves 50 to 80 percent, you know, fluctuates within a month. And, you know, you got to worry about paying your rent. Right. So obviously, we know that the Great Recession of 2008 was what basically created Bitcoin in the first place. Well. Dan Moorhead thinks that the second financial crisis basically is Bitcoin’s time to shine. Kind of like what I just said before. A major thrust of his argument is the massive monetary expansion also happening in fiat currency right now. So basically, as governments increase the quantity of paper money, it takes more pieces of paper literally to buy things that have fixed quantities like stocks, real estate and, of course, bitcoin. Right. So we basically have this situation where he says now that we’re in the trillions, the deficit just simply has to have a positive impact on the price of things, not quantitatively usable stocks, real estate, et cetera. Obviously, Bitcoin, but he does take a step further and predicts an all time high within 12 months. He expects a massive wave of institutional money coming into things like I said, gold, bitcoin and crypto is not to quote him. He says the price of bitcoin may set a new record in the next 12 months. It’s not going to happen overnight. He says his best guess is that it’s going to take institutions about two to three months to basically adjust their current portfolio portfolios, another three to six months to research new opportunities like distressed debt, special situations, crypto, etc. Then as they begin to make allocations, those markets will really begin to rise. Institutional investors did see the value of Bitcoin during the crisis over the last few weeks. However, while Wall Street was tripping circuit breakers essentially left and right, bitcoin was actually incredibly pretty liquid. And we were we did have, you know, a nice saw, you know, overall bounce back from the crazy dip. I mean, this still is an uptrend no matter how you look at it. Right? Essentially, like Mojo Crypto said, what will happen next is they’ll mandate all purchases to be paperless in the name of public safety. They need to print anything and all transactions will be traceable. R.I.P fungibility, long private coins, quantitative easing, fed money printer go birx crypto. So let me know what you guys think about that. But that is essentially the situation at hand. Now let me get into some other news of the day and then there’s some stuff at the end you guys might want to stick around for just to hear about that. But essentially the big news is buying Anse is de-listing. They’re leveraged assets tied to bitcoin, a theorem, SRP and iOS. These are the bull bear tokens getting a lot of mixed signals about this. They’re saying we will credit your Bonanni account with the equivalent value held in leverage tokens at the time of delisting in finance U.S. dollars within 14 days. They say take action because they know they took the action because users are simply too confused as to how leverage togain work. Leverage tokens work on. Yeah. So basically you can move these tokens to other exchanges that are accepting them. You know, finance was these are the F.T. X tokens, right? But yeah, well, pools kind of poking some jabs at them saying dear by nans, please, sir. I bought BMB at $35 and now it’s $10. I lose 70 percent of value. I do not understand. BMB please delisted from finance to protect your users. Thank you. So basically in a nutshell, like yeah, cryptos are risky, leveraged trading tokens are risky, trading is risky in general. I think people know their risks. But you know, some people are actually really pissed about this, for example, and he says this is B.S. I just had to sell at a loss because of this crap. Come on. The community can read, educate them, don’t delist them. You have a bit $2 saying this makes me lose one hundred thousand U.S. dollars. I told when iOS listing that all bull and bear not work proper, but by NANCE I mean in customer care, not take it seriously. Now they stole millions of dollar Ceecee. Respondents said they’re not designed for long term holding. They devalue over time when markets underlying assets fluctuate back and forth. Let me know, guys, if this is a situation that you’ve got affected by. Personally, I was never a fan of these tokens. I don’t really like these FCX tokens. These like Bull Bear Bond X type tokens. For me personally, it’s just too risky. There’s not enough liquidity in these tokens. So I don’t know. My opinion is I just stay away from them. You guys do what you want. If you want to trade that, you guys can continue to do that. Personally for me, I just keep it. Really simple. Over at something like BYB it using like, you know, for example, just Bitcoin. I mean, even trading a theorem and these other tokens is very risky. I mean, Bitcoin itself really isn’t that liquid compared to like traditional stocks, but it is the most liquid of all cryptos and it is best to sort of master, you know, one I guess, one asset before trying to do these other ones. But hey, to each his own. Whatever you guys do, that’s totally up to you. Yeah. You guys know if you want. I do have a tutorial for Vibert popping up above. You guys can check that out if you’re interested. But moving on, I do want to talk about why I believe blockchain technology is here to stay and bitcoin specifically. I think we’ll be around for a long time despite potentially having some difficulties in the short term. One thing being the fact that you could see Samsung obviously in their latest 5 G enabled Galaxy Range smartphones, the ESC twenty s twenty plus as twenty ultra, they all have built in crypto wallets that can basically host bitcoin. And I’m not sure I think it’s a theorem as well. Right. I don’t own a Samsung, I have an Apple. But yeah, I mean basically that is something. And also yesterday we saw Microsoft looking to do crypto mining for like ads using your your your mind and your brainwaves. Crazy, crazy stuff moving forward, guys. Also, I just wanted to mention that we had spoke about this the other day about basically Vitale’s saying we should put resources towards proper trust list server lists maximally Younus SWOP user experience. I completely forgot to mention comodo. You can see they say it’s already possible with their atomic deck. So if you guys haven’t checked it out, we’ve actually spoken about comodo not so much recently on the channel, but I’m obviously a fan of comodo. I’ve always liked what these guys are doing. You could now make P2P swaps from eith or EMC tokens directly to bitcoin or a number of different bitcoin protocol coins. Yeah. P.S. Y-axis actually dropped this down here. Atomic swaps explained. So if you guys are interested, I will drop this below if you guys are interested in maybe doing something like that. So. Sorry, forgot to mention that, but glad to sort of retouch that topic today and kind of on a little bit of a controversial topic. I don’t really know if I wanted to bring this up, but I felt like I should just say something. So a lot of people are a little upset about this. Roger Vier tweet. If you are worried about the virus, you should self isolate, leave the rest of us alone. You can see this is basically he’s comparing it to seasonal flu, malaria. These other things saying, hey, it’s not that big of a deal. Well, first of all, this says 21000. This is wrong because you could see that it is actually higher than that. And I will tell you personally, look, I live in New York right now. We have the highest amount of cases. It is serious. I the people in my hometown have it. So regardless of whether or not, you know, you want to believe these people saying it’s a conspiracy, it’s this or that. I’m not going to get into that today. But what I am going to get into is this is real. This is new. Yes, of course. Like, you know, five years from now, it’ll just be another common cold. But right now, it is a very strong strain. It is affecting a lot of people and even some people out there that are saying, oh, well, it’s only 1 percent. Well, guys, there’s 7.8 trillion people in the world. 1 percent of that is 78 million people. And if that was even the death rate, I don’t want to see 78 million people die. I don’t know about you. So, you know, what we can do right now is practice these safe guidelines. You know, do the social distancing where, you know, gloves when you go out, if you want to wear a protective mask, definitely do that. Wash your hands and only go out when you have to and try to avoid, you know, crowded public places. Because even if you’re a healthy individual who’s totally asymptomatic, you could still potentially give it to somebody else. And that’s just it is very irresponsible. So that’s kind of like my take on it. I don’t want to get political or I don’t get. I’m not a doctor. But my take on it is better to be safe than sorry. That’s kind of how I’ve always played things. So let me know what you guys think about that moving forward. You know here, is that actually a thing? You know, Ron Godzilla is attacking the city. Relax. He’s only killed four thousand people. The flu kills twenty five thousand every year. You see that kind of logic. But anyway, guys, kind of a weird topic to end today’s video on, but I just had to jump in and say something. Some people are not taking it seriously. You kind of have to take it seriously, especially when you know you are. I’m telling you, it’s in my town, guys. It’s in my local town. Like I have seen it myself. So that being said, guys, thank you so much for coming back to the challenge. You guys rock. I know. Kind of a weird topic to end on the end of the day. You know what? If you made it this far, let me know what you think about bitcoin, cryptocurrency, what you think about a lot of these Twitter accounts. You know, a bit lord mysteriously disappearing. You have lots of other accounts shutting down YouTubers, not making videos anymore. The sentiment, you know, kind of not that great. You know, we have had this bounce back, but the question is, how long can it last? So basically, guys, that’s it for me. Thank you so much for coming back to the channel. You guys rock. You are the reason that I do this every single day. Definitely be safe out there. Do not risk more than you can afford to lose. And as far as the situation going on worldwide. Just please be safe out there, guys. Please, please be safe. Thank you so much for coming back to the channel. You got. Rocky, the reason that I do this every single day. My name is K-Dub. The script of Zombie. Until next time, state Krypto and of course, PDAF.

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