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✅ BITCOIN HALVING 2020 DONE ✅ Bitcoins Next Move?

VIDEO TRANSCRIPT

The big coin haul thing, 2020 is done. It’s over and it will only take one thousand four hundred and fifty-seven days until the next Bitcoin morphing in two thousand and twenty-four. In today’s episode, we’re going to have a look at some YouTube burse and how they freaked out completely because of this event. We’re going to look at some fundamentals and what effectively changed between the block number six hundred and twenty-nine thousand nine hundred and ninety-nine and six hundred and thirty thousand. We’re going to do some technical analysis on the daily chart. And last but not least, probably the most important question of today, what’s bitcoins next move? All that and more in this episode. And now let’s jump right into it. And with that said, what is going on? Number one, sunny decree here. And welcome back to the channel. First of all, I want to say thank you very, very much for all the viewers. We peaked at approximately five thousand eight hundred viewers. The people were very happy. It was a very nice guy. And once again, I figured how much I love my community. And if you guys like this kind of content, please make sure you leave like below this video and also subscribe to the channel and activate the post notification bell. Once again. Thank you guys very, very much for this amazing support. Now let’s see how some other YouTube’s reacted and maybe freaked out a little bit about this Bitcoin morphing with Harvey. It’s absolutely insane. And we’re having a life that’s even more amazing. So, well, as you can see, I’m an on tech was full of energy, completely hype like we were, too. Also, there was the tone Vaisse Lifestream with temporarily fourteen thousand viewers, many, many big hitters right there. But some people were not really that happy about the Bitcoin boffing. So here is a kinda weird clip. Taylor, a.k.a. Chico, do the best scraping the bottom of the barrel there. Oh, yes, fine. And anyway, you fat fuck. Shut the fuck up, guys. They’re trying to introduce me. Be quiet. It’s an important moment. You invited me. Make it a good one. Okay. And the last one on the list. Producer and journalist Anami Brockwell. Thanks for joining us. Guys. How many in here show by bit links? The leverage trade to their subs. Correct them and then say twenty thousand. Gee, what about Chile prime? Yeah, actually prime MBT in the deleted off your channel in the between. Like, you never did it without pay. I said I’m sorry about that. I’m just telling you guys you’re going to be a big problem trying to get anything done which you go in this channel. You invited me. So it doesn’t seem that everyone saw this event as something positive. And here once again, I’m so thankful for the community that we have. Thank you guys a lot. So what exactly happened yesterday? And what’s the difference between blockade six hundred twenty-nine thousand nine hundred and ninety-nine and six hundred thirty thousand? Well, it is actually quite simple. Here we’re looking at block number six to nine nine nine nine. And as you can see, the block reward right here was still on twelve point five Bitcoin. If we compared that to blockade or block number six hundred and thirty thousand. You can see that here. It actually changed. So the whole thing went down. And the block reward is only six-point to five Bitcoin. Now, some people out there were asking yesterday, also on the Lifestream. But, Sunny, if the whole thing is gonna go down every four years, what are miners going to do if there is no Blocher reward anymore or almost no Blocher work anymore? Why should they still be mining? Well, quite simple. Miners are not just getting the block reward. The freshman Bitcoin, they’re also getting all the transaction fees here. Of all the transactions in one block in this book, for example, there were three thousand one hundred thirty-four transactions, one block before two thousand four hundred eighty-one transactions. And all the fees are also going to the miner, which is mining that block. So the block reward getting reduced is not really that a big problem, because the more people that want to use Bitcoin, the higher transaction fees, we’ve already seen that back in 2017. So the miners can definitely be sustainable. Now, for those people who are saying, well, the big transaction fees. Well, that is bad, right? Well, it’s not. It’s protecting the network. If you have a network which costs nothing to send transactions, why would people not just spam it? Why would people not just abuse it to store their data for free on it? That is exactly what we’re seeing on some of this cryptocurrency, is that people are just using it as a data storage pretty much. Right. And Bitcoin is protecting itself with the transaction fee that it’s not getting spammed and that it’s only getting used for actual transactions. Of course, right now, because it’s cheap, we maybe have some spammers, we maybe have some transactions which are not necessary. But the higher the transaction fee goes to, more people are competing to use the Bitcoin network, the better the protection gets. So there’s absolutely no problem with that. Not a question that people were asking or another concern they raised was the hash rate, but the hash rate so far still perfectly fine. In fact, we’ve seen a new all-time high in hash rate yesterday. It depends a little bit what chart you’re actually looking at. But people were scared that no new blocks are getting get found. But what we can see right now is even offered a half. And you can see here two blocks were found and within one minute, then two minutes before that, then three minutes before that and so on and so on. Here in this one hour, one, two, three, four, five, six blocks were actually found. So, no, it’s not that miners instantly capitulated. Would definitely going to see how this will play out. But the hash rate numbers that we have, they aren’t based on blocks. So they’re always a little bit delayed. And also multiple charts are showing multiple results. But we will definitely have an eye on that. But so far, what we can say is, no, it does not look that miners are capitulating word. The miners are just withdrawing their hash power and bitcoin comes to a halt or anything like that. OK, so that was a lot of conspiracy theory. And we have seen whole things already in 2012 and in 2016. And it didn’t happen there. So why should it happen right now? OK. So everything is still perfectly fine. The whole thing worked as intended. And one thing which is very important is for those people are saying, well, it was kind of uneventful. There was nothing really happening. Right, with the price and everything. But once again, and we saw that tweet yesterday on Bitcoin, if the whole thing seems to be uneventful, then it works exactly as it is designed. Think about that for a second. That is actually quite a smart quote from the Twitter account at Bitcoin. And as you can see on this timer right here, one thousand, seven days left until the next Bitcoin Harpham, which is probably going to go down in 2024 on the 9th of May. Maybe we’re all going to be still around. That would be very cool. And I’m really wondering how many people we will have them on our Livestream yesterday, five thousand eight hundred. So that really looks like that the Bitcoin community to the crypto community is growing. What do you think is going to go down in four years from now? You can let me know down below in the comment section. All right. But now let’s talk about the Bitcoin price. First of all, we’re going to have a look at the Bitcoin daily chart. What we have seen yesterday was a little bit of a dump during the Lifestream, but. All too significant and what I like personally, and that’s something I already said on yesterday, Lifestream, is that yesterday and also the day before yesterday, we tested the range of the 200 daily moving average. And as long as we’re not breaking below the 200 daily moving average, technically speaking, we’re still in a bull market. So as long as we’re not falling below that level, which is pretty much exactly at eight thousand U.S. dollars. So as long as we’re not falling below eight thousand U.S. dollars, I’m not concerned. The correction that we have seen right now with all the formal pre having before that. I mean, we had like seven weeks in the Greens. I mean, of course, at some point there is a correction. And so far the correction is only at approximately 20 percent from peak to peak. And we have seen plenty of 20 percent corrections. So this is still perfectly fine. But what’s interesting right now is the Bitcoin weekly chart on that B Elex ticker. So here we are. And once again, we’re going to discuss what is next for Bitcoin. What is Bitcoin next move? I personally do not expect a massive pump tomorrow or interest one week. Why? Because history has shown us already that that never happened. So why should it happen right now? So the bitcoin morphing went down right here. Could there be a lot of sideways action? Sure, absolutely. But let’s go back in time and see what happened. And most importantly, and I’m pretty sure that is the most important question for most of the people out there. How long does it take for Bitcoin to reach an all-time high for Bitcoin to go to twenty thousand? And once again, for that, we’re going back in here in time and we’re going here back to 2016. And here you can actually see that a couple of weeks after the whole thing or Bitcoin was actually dumping for multiple weeks, offered to Hafen in here and to reach new all-time highs after the whole thing. It took Bitcoin just to peak it. Twenty-six weeks. Then after 33 weeks, once again, it peaked Buffett. And then finally it broke it and never came back. Forty-one weeks after the last Bitcoin whole thing. So it took Bitcoin almost a year to establish the new all-time highs. Well, as you can see, offer to Halfan in 2012 into 2013. Bitcoin went to new all-time highs faster as in 2016. Here we’re only talking about 13 weeks in here until Bitcoin reached new all-time highs. This is actually quite amazing. But as you guys can see, most probably we’re not going to see new all-time highs tomorrow or after that. In fact, what I’m personally expecting right now is maybe we’re cooling off a little bit. We could see some volatility, but maybe we’re cooling off a little bit. So many people were hype for the bitcoin morphing. But at the end of the day, well, nothing really happened to the price yesterday, right? I mean, a 20 percent drop over the last couple days. Perfectly normal still. OK. So it could be that people are losing interest right now again. It could be that fewer people are talking about Bitcoin because this event will once again be not really that eventful. So interest will maybe go down a little bit. Maybe this all has to cool off a little bit and then we can build up again from a solid base. But that is it all ready for today’s episode. I really hope you guys enjoyed it. If so, please make sure you’re not forgetting to hit the like button. That is very much appreciated and helps this YouTube channel. Thank you guys very much for watching. And hopefully still a few tomorrow in the next one by.

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