Today in Krypto, that 15 percent Bitcoin drop has got some new investors shaken and traders, of course, remain dismayed by the failure of Bitcoin to break out of the two-year downtrend, which has been suppressing the market. Ten thousand dollars is proving to be an incredibly key level for Bitcoin. But there are a few things that make this Bitcoin having drastically different from the previous Bitcoin having. And why Bitcoin is looking more bullish than ever. The crypto lark. This release was scrapped. All of the hottest and all of the latest happening out there. And the wild, wildland of crypto. A big thank you to prime SBT for sponsoring today’s episode. Prime SBT is a fantastic platform for trading a wide range of assets. You can trade crypto, you can trade top forex like yen in euros, you can trade top commodities like oil and you can even trade stock indexes like the S&P 500 all tradable against Bitcoin. All of these markets are tradable with generous leverage and prime expertise also does not require any KYC. So you can, of course, trade privately. Now, trading is not for everyone, and prime expertise is only for advanced traders who understand how properly to manage their risk. There is a link down below where you can get signed up and start trading today. So the Bitcoin having is now less than 24 hours away. I’m getting pretty gosh darn excited. Are you excited? Feel it in the air almost. It’s like Christmas Eve. I even got out my super rad Christmas sweater just for the occasion. The excitement in the air right now. Very, very cool stuff. Now, I do want to just say real quick, though, before breaking down the charts today and actually getting into some of that very surprising statistics about why this Bitcoin having is different. Look, I know if you’re new around here that a 15 percent drop, it can seem really, really scary sometimes. But please, if you are new to Bitcoin, learn to have some perspective. Bitcoin pumped by more than one hundred and sixty percent since March. A cool-down period is normal and healthy for the market. You can’t get freaked out by 15 percent dips. And if he is shaken out by a 15 percent dip, then you don’t get the 1000 percent gains later. But I know that there are some people out there listening right now. I mean, you guys must have trouble like functioning normally in Day-To-Day, life with hands that are that big and that strong. I mean, logit, if you survive that 50 percent crash back in March, rock-solid man, rock-solid, 15 percent. It’s like a cool breeze on a summer morning to you. Just 15 percent, man. Nothing. But anyway, moving on to the charts. So the weekly candle has just closed for Bitcoin and sadly, it did not confirm in our favour. We got rejected from ten thousand dollars in back down, of course. We went you know, in general, I’m feeling rather bullish on the markets at the moment, so long as the price is maintaining above that 200-day moving average. I am bullish on the markets, in fact, coming back down to test the 200-day moving average and then flipping the 200-day moving average from resistance actually into a line of support is a very, very strong move. And if we do bounce significantly from here, that’ll be really great to see. But I will not be full balls to the wall bullish on the market until we actually get a weekly candle that breaks out above that two-year downtrend line and is an absolute key line for us to break. And that’s right around ten thousand dollars right now and ten thousand dollars has proven to be a very tough area for Bitcoin to break away from. This is a major zone of historical resistance and getting rejected on this attempt really not super surprising. But anyway, key point, in spite of the massive bullish momentum that did pull us out of the depths of despair back in March, we are still in a high time frame downtrend until we actually break above ten thousand dollars, confirm it and hold it also. Well, we may hope the Bitcoin just decides the test. Retest ten thousand dollars A.S.A.P. and then blast out that mega triangle hits a new all-time high. It may not play out like that. I know we wanted to play out like that, but these are the markets. You don’t always get what you want. Mean we could range sideways for weeks or even retest lower ranges of this triangle? That is definitely possible. Anything can happen in these markets, especially if the 200-day moving average fails to hold as support. Personally, I have a bullish bias overall towards Bitcoin, especially if we can see that Golden Cross confirm on the daily, which is about 10 days out right now, the 10K. It is the line to beat at the moment in 8-K is the line to hold very tight game right now. What happens next? Very hard to say. With a big hype event like the Bitcoin, having anything is kind of possible. So we have to watch and see how this plays out over the next couple of days. Anyway, what’s very interesting is that this Bitcoin having has behaved very differently compared to 2016. So here are some of the reasons why this having is fundamentally different from actually the previous two hanging’s and why the picture for Bitcoin is more bullish than ever. You just have to be looking with wide-open eyes. Now, as we have covered at length, the price action has actually been quite different this time around compared to the previous having. I mean, if we look back at 2016, there is some kind of general rhythm that we do see playing out with a big price run-up before the having followed by a big dip immediately before the having and what many are now expecting and with sentiment kind of turning around the market would not be a big surprise, would be, of course, a bigger dip to come after the having. Then after the big post having a dip, what do we have in 2016? We had a few months of sideways market action, really not that much happening. Everyone was just kind of bored. And then something started to happen. The price started to steadily rise and to rise and to rise until it hit a crescendo of twenty thousand dollars around 18 months later. We all hope that a similar but even bigger scenario will happen this time. Heck, even if Bitcoin only gets up to a very low estimate of, for example, fifty thousand dollars this cycle, that will be game-changing money for many other people who were able to invest in Bitcoin at these lows, especially since such a rise for Bitcoin would inevitably bring huge liquidity into the old coin markets, where there will be lots of hundred X’s happening. But there are some other ways in which 2020 having for Bitcoin is fundamentally different from the one back in 2016. The first is to look at just how big the market has actually grown in the last four years. The market cap of Bitcoin is now at 160 billion dollars. That is 16 times bigger than the 10 billion dollars at the previous. Having volume has absolutely exploded in 2016 on the day that having the total volume for Bitcoin is around one point seven billion dollars. Today, the volume is nearly 50 billion dollars a day on average. That is incredible growth to observe as we approach this key milestone for Bitcoin. In fact, on April 30th, we actually had the second-largest daily trading volume on record. But the huge increases in volume are also partially thanks to increased interest from big-money players like the guys over on Wall Street. And yes, they had brought in additional liquidity, but they have also brought in additional manipulation to the crypto game in the form of futures contracts and of options contracts. And while this has allowed Wall Street to bet against Bitcoin, it also allows them to bet on Bitcoin. It has allowed people like Paul Tudor Jones to go long on Bitcoin with hundreds of millions of dollars from his fund. However, we can think a large percentage of the volume that we are seeing come into the market, not just on the fat cat Wall Street types, but on the retail vires mom and Pop and Uncle Joe, all these people. As one example, Coinbase increased its user base more than tenfold since the time of the having in 2016. Up until now, buying Anse didn’t even exist at the last Bitcoin having. And now it is the most popular exchange on the market doing 10 billion dollars plus in volume some days. And we have seen volumes on platforms like local bitcoins absolutely skyrocket, particularly in regions like Argentina and Nigeria. And Donna in Venezuela, which are underserved by the bigger exchanges and there are now more than seven thousand seven hundred Bitcoin. Eight teams worldwide. This is up for around six hundred at the time of the last Bitcoin, having the number of non zero Bitcoin addresses has also risen dramatically. On July 9th, 2016, it was a little less than a quarter-million addresses with a balance above zero. Today, the number of Bitcoin addresses with a non zero balance is around thirty-seven point five million. Wow. There are so many Bitcoin addresses right now that soon not more than half of all the Bitcoin addresses will ever be able to own one bitcoin. Digital scarcity is about to kick into high gear. And what about the Bitcoin network itself? Well, it is stronger than ever before. Been covering a lot of the all-time highs for the hash rate. The total hash rate at the last having was one point five million. Tera hashes a second, which was pretty gosh darn secure. To be honest, now it’s over one hundred and twenty million. Tarah hashes a second. Wowsers. That is a mind-bogglingly big number. The most secure computer network on earth is Bitcoin by Miles. And the investment in Bitcoin mining has also soared into the hundreds of millions of dollars, with people like Peter Teil and big corporations like SBI Holdings and Fidelity Investments in GMO. The Japanese Internet giant all throwing gigantic sums of money into Bitcoin mining farms. I always find it very, very telling to see what the big money is doing anyway. Here we are on the eve of the next Bitcoin having and I know that we’re going to look back in 2024 when we get to that next Bitcoin, having our look back and say, wow. Eight thousand dollar Bitcoin. Wasn’t that nice? It was so cheap. Why didn’t I buy more? The reality is that in the coming months, we are going to finally shake off that downtrend that has kept Bitcoin subdued for the last two years. And we will start that slow but steady crawl up to a new all-time high, potentially 18 months away from now. It could be fifty thousand dollars, one hundred thousand or three at a thousand dollars. No one really knows. We can all speculate. But one thing is certain to me. You have got to be in this market. The biggest risk that I see when it comes to Bitcoin is not actually holding Bitcoin and being in the game. Remember, of course, never put in more than you can afford to lose. Dollar-cost averaging is definitely the Chili’s method for long term success. When doing crypto is step one. You stack your sets. Step two, you chill. That’s all. Play that long term game. Most people aren’t thinking past next week when it comes to investing. And if you’re thinking a few years out and you’re planning accordingly, then you have got a massive advantage over the majority of the rest of the market. Something to keep in mind. I don’t have a question for you today. I just want to wish you a happy Bitcoin. Having and I hope that Satoshi will bring you everything that you wished for. And here’s a course of four more years of blessings in the bit. Coin markets to the moon and beyond, my friends. Long live the block, Jane and B. S next time.


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