Today in crypto, the bitcoin having is upon us. It is now less than two days away. And how does Bitcoin decide to celebrate this momentous occasion? Well, by taking a big old mega dump of 15 percent. Go home, Bitcoin. You’re drunk. Get out of here. You can’t have anymore. But anyway, forgetting this short dip for a minute, the actual Bitcoin having an event is going to come. It’s going to go much like any other great day with lots of anticipation around it. But aside from the coming cut in daily emission, there actually remains a lot of reasons to be incredibly bullish on Bitcoin in the long term. So want to take a few minutes today to actually discuss some of the reasons why I remain mega bullish on Bitcoin moving past this important milestone, the crypto lung. This is where you subscribe for all of the hottest and all of the latest happenings out here in the wild, wildland of crypto. Also, if you are new to crypto and you still need help figuring out all of the basics, like how to buy bitcoins, send Bitcoin, mining Bitcoin safely, store your Bitcoin, as well as the top tips in resources for investing success, then check out my course cryptocurrency. Explain. I’ll walk you through all of these basics and more and we’ll empower you to invest with confidence. There’s a link Downbelow where you can check that out. So we have to talk about the price Bitcoin. First, let’s take a quick look at the charts. Bitcoin has had a huge rejection at ten thousand dollars after struggling last 48 hours to try and maintain above ten thousand dollars. The bulls, they got tired. They finally had to take a break. And what happened as a result of that? A big price drop. In fact, the price jumped by around 15 percent. Eight or ten thousand dollars. We’ll miss you until next time. But ten thousand dollars probably back a lot sooner than a lot of people might expect it to come back. Still, though, we might just have a decent bit of a hangover the period after the Bitcoin having happened. So do stay frosty out there of one big hype. Events like this, they tend to lead to a lot of market volatility, as we’re seeing right now. You see this Bitcoin dump, it was actually, though, strangely bullish. I know. WTI Florek, how is the price going down? Fifteen percent bullish. Well, you see, the price came down within fifty dollars of the 200-day moving average before we actually saw a strong amount of buying pressure step in to force the price back up into the mid eight thousand. In fact, the volume is the most significant amount of volume that we have seen since the big crash back in March. I know that a lot of people, they’ve been out there, they’ve been waiting on the sideline for a dip like this to the county for everybody who missed it of four or five or six or seven thousand. Well, a dip down to almost 8000. It was a good buying opportunity. The volume does show this dip was bought up aggressively. Seeing the 200 days moving average act as a line of support right now is definitely a bullish thing if we lose that line of support. Well, bad news bears. That’s not a good thing to be happening, without a doubt. Now, as to why this big dip happened. The most likely scenario is that the bulls, they just ran out of steam. Another possible scenario is that it’s actually the miners that are out there taking profits in a very big way right now before the having actually hits. Cashing out around 10000 dollars would have been a very profitable move for many miners. Member miners are in the cash business. They are not in the Houghtaling business. Or perhaps it is as simple as this was just a buy the rumour, sell the news kind of event. A big correction like this was simply always in the cards after such a big, strong run-up that we had. And right now you might see some of these big players we’ve been discussing getting into crypto they’re selling that is right now, and they’ll buy back in on the dips. However, a dip like this does have the chance to shake out a lot of those new buyers who are not used to this kind of crazy volatility. We could actually see more sell pressure coming in from those who are uninitiated in the ways of Bitcoin volatility. The key line to watch right now is the 200-day moving average. If we fail to defend that very, very important line, then we might get another brutal dip down to six thousand dollars, which is approximately where we find the 200 weeks moving average. But before we let the bears out of their cages, let’s watch to see if we do hold that line around eight thousand dollars. A very important place for Bitcoin to hold. I’m also very curious to see how the weekly candle closes out in around 18 hours from the time that a record this video. So we’ll talk about that more in tomorrow’s video. Anyway, let’s now talk. Well, the five reasons that I am mega bullish on Bitcoin after the having. Now, this is not an exhaustive list of ideas or some of I came up with have the key reasons that are really driving me right now and my current rationale for being a Bitcoin holder. So the first big reason I am just an unshakable believer in Bitcoin is due to the policies of central banks. The only idea that central banks can come up with to fix the systemic issues caused by printing money, wait for it is a good one is to print more money. It’s crazy, man. This has been the policy of central bankers for many, many years. But the current crisis has unleashed a Sunni army of economic insanity across the world that is truly unprecedented. Central banks are printing trillions in new money, thus devaluing the Fiat in your bank account and also frontrunning you by giving it to all their mates. Central banks are also buying up corporate bonds. Even junk bonds is a non-investment-grade bond that they’re buying. It’s insane. Basically, the central banks have stepped in to say that no corporation anywhere is too big to fail by issuing the largest raft of corporate handouts in history. And if all the money printing wasn’t already crazy enough, there will soon be negative rates. And basically every major economy now negative rates. This is when you lose money by keeping it sitting in your bank account. It’s already happening in Europe and it will happen very soon in the USA. In fact, the markets are already starting to price this in. And the more that the central banks weaken their fiord fantasy money. The stronger that Bitcoin becomes. They do quantitative easing. Bitcoin does quantitative hardening. The second reason I’m long term mega bullish on Bitcoin is basically the everything bubble that we see right now. Debt globally has reached epic, epic levels. The United States alone. They just crossed over the 25 trillion dollar mark for their government debt. It added an extra trillion dollars in debt in a month in just the last month. A trillion dollars, just bull. There you go. Throw some more money on the bonfire. And the United States is not alone. Globally, we have a debt bubble over 250 trillion dollars, a derivatives market in the quadrillions. Many major commercial banks are continuing only thanks to life support from central banks. And they are also deeply incestuous, Leigh combined. That one collapse is like a domino that will take all the others down. Definitely not cool. There is no scenario in which this debt bubble ends well, meaning there is no scenario in which Fiat ends well. Which brings me to reason number three. Major players are starting to wake up to these realities. The announcement this week by Paul Tudor Jones, one of the world’s biggest macro investors that his Bitcoin fund is taking a stake in Bitcoin futures is because he believes that the cryptocurrency will act as a hedge against inflation. This is a major market signal that at the highest levels of investor class Bitcoin is catching on, seeing players like Jones actually getting into this, actually getting into Bitcoin. This is going to signal to other hedge funds, to endowments, to family offices, the high net worth individuals, that Bitcoin is a serious asset and it needs your attention and it needs to be part of your portfolio, even if it’s only a few percent of that portfolio. You and I already know this, but the cat is out of the bag. And every day more and more people will find out about Bitcoin. We won’t stay at these prices for a long, long time. And with all of these big shots getting into Bitcoin, it’s a tick. Tick, tick. Tick, tick. Kind of situation before countries actually start to join the race to get Bitcoin and they start buying up BTC for their strategic reserves. The fourth reason is that Bitcoin is digital gold. Bitcoin is the best-performing asset class in 2020, already beating both Treasuries and gold because annihilating the stock markets by a long shot. And that’s in the middle of a global recession caused by a global pandemic. It was the best performing asset of 2019. It was the best performing asset of the last decade. It will probably be the best performing asset of the 20 20s. Bitcoin is digital gold. The future of money is certainly going to be a digital future. As most of our commerce, of course, now done online and everything’s value transfer is happening electronically and it has to be global and it has to be free from governments. It has to be free from central banks. It has to be free from Facebook or any other party really that would try to manipulate our fate in which is susceptible to the fallibility of human corruption. Bitcoin is the one that can do that. Bitcoin can surpass the market cap of gold, which is currently around nine trillion dollars today. The Bitcoin had it’s actually to be bringing the annual mission rate of Bitcoin close to that of gold. So it’ll bring Bitcoin down to one point eight percent versus around one point five percent, which we currently have for gold. But unlike gold, we know that Bitcoin is truly, provably scarce. It shares the best of the hard money principles of gold, but in many ways is superior in terms of easy divisibility portability and is almost unfairly cheap to move around the world in a matter of minutes. And the fifth reason that I remain very, very bullish on Bitcoin is that Bitcoin has a cycle that it works through. And we are right now about to enter the next big phase of a major Bitcoin super cycle. The having it is just a major road mark on the way to new highs for Bitcoin. Bitcoin stock to flow model has proven to be an effective model for Bitcoin. And this model gives us Bitcoin at a hundred thousand dollars or more at the next cycle peak. The previous cycle actually peaked at four times more than was indicated by the model, giving us an upper potential price limit of around four hundred thousand dollars, which would indeed. Rival, the market cap of gold. Now, this might sound crazy to you at the moment, like all like. There’s a lot of money that you really say and Bitcoin is going to go up that much. But let’s go back in history. Remember that last having from the having to the peak, the price of Bitcoin made a similar move, shooting up 40 X from the lows just after the having to that cycle peak. So it is definitely possible. Now, if you look at the Bitcoin log chart where currently at the bottom of that chart, we will start our slow crawl back up to the top of this chart. Over time, the implied top here is a hundred thousand dollars. Hundred thousand dollars. A pretty happy place to be as well if we get up those higher highs. But this does show us that beyond the price, speculation simply is that right now is a time for accumulation. Bitcoin has a huge market cap growth potential. These are still the early phase of Bitcoin’s price discovery. Bitcoin will have a multi-trillion dollar market cap. The only question is how long it takes. How strong can your hands be and how patient can you be? Think about where the price of Bitcoin is going to be in a year or two years or even five years, what, 10 years? Crazy. Most people do not think that way. With a Bitcoin investment, far too many people enter this market expecting overnight riches. That’s just not how it works. But in five years, if you can hold your bitcoin, there is a big chance that won’t really matter if you bought at eight thousand dollars a ten thousand dollars or twelve thousand dollars because it’s going to be way, way higher than it is right now. The fundamentals and the technicals for Bitcoin are simply awesome. This is why Stack sets and then I chill. I play the long game. So your question for today. Did you buy this dip on Bitcoin or do you think the price is going to go even lower? Also really curious to know what is your exit strategy? Are you planning on selling at 100 thousand dollars? Are you waiting for four hundred thousand? Maybe you’re waiting for a million-dollar bitcoin. Are you just Hotaling for life? Let me know. Downbelow in the comments section. Really curious to know if you got out there and actually got some of this bitcoin dip and where you’re going to go with your Bitcoin in a few years time. Thank you so much for watching today’s video. Just a quick reminder, you are frickin awesome. Thank you so, so much for continuing to support the channel. It means everything to me. None of this is possible without your support. So thank you so, so much. Of course, he did join today’s video, hit that thumbs up button. Make sure. Subscribe the channel. If you are new around here. Long live the blockchain and peace out till next time.


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