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$10,000 Bitcoin By Halving, IF Key Resistance Breaks! HUGE ETHEREUM NEWS Will Rocket Price!

VIDEO TRANSCRIPT

Today in crypto, bitcoin is struggling to break key lines of resistance. News of big companies buying up a theory of and actually some really huge a theory of issuance news and a giant Bitcoin having hash rate spike has happened. What does it mean for Bitcoin? The crypto lark. This is where you subscribe for all of the hottest and all of the latest happening out there in the wild, wildland of crypto. And for those of you who are new to crypto and you still need help finding your feet, I have made a course to help you get started and explains how to buy, how to sell, how to send, how to store and how to mine Bitcoin, as well as a whole bunch of other top tips and resources for your investing success. There is a link Downbelow in the description where you can learn more. So let’s start off today by diving straight into the charts. Turning first to the weekly sense. We have just had our weekly close for Bitcoin that bullish Mack D. Cross over we are talking about last week. It is forming up very nicely at the moment. This is a rare indicator that has signalled the start of the last two big runs for Bitcoin, both the Bitcoin having to loom and a possible post having a correction. This does run the risk of potentially being a false bullish signal in the short term. That being said, any correction after the having is likely to be quite short-lived, that at least it happened in the last Bitcoin having less. Of course, a wider economic downturn really just kicks off and drags Bitcoin under with it. And while the Madie crossover is definitely a good bullish sign, the real line that we need to break is that line of resistance on the weekly charts, around ten thousand dollars. This line has been holding us down for more than two years. In fact, ten thousand dollars. It’s not just the very important technical barrier for Bitcoin. It’s also an incredibly powerful psychological barrier for Bitcoin. It is going to be a tough zone for us to achieve and to really hold above. And if we can crack ten thousand dollars for the having, then ten thousand five hundred dollars has been a massive line of resistance from the two most previous big runs for Bitcoin. If we do get a break higher before having and seeing Bitcoin really test and reject around ten thousand five hundred dollars, that would not be surprising. So keep that in mind. However, if the price fails to hold, then we should be fully watching for areas of support around eighty-four hundred dollars. And if that should fail, the 200 days moving to average around eight thousand dollars is the line in the sand. If that breaks, bad news for the Bitcoin bulls now a retest and a bounce from either of these keys owns a sport that would actually pretty gosh darn bullish. So let’s keep an eye for that play out or not. Anyway, in spite of the bullish momentum we have been having recently, there is, of course, this big shadow over the market right now, which is the equity markets and the potential for a wider economic downturn. Stay frosty out, everyone. Next up, I have some very fascinating insights for you from recent Bitcoin exchange balances. It appears that a significant portion of the retail investors who have been helping drive this rally, which, by the way, is a fact that has been supported by a lot of things you’ve covered here in the chamber. Just as a quick summary, lots of new exchange sign-ups have been happening over the last six weeks. New address metrics showing continual all-time highs for low account value, zero points one or just even 0.01 Bitcoin. Of course, all the anecdotal stories shared from you about your mom, your dad, your work buddy, your Uncle Joe, all taking an interest in Bitcoin over the last week or two. Anyway, those buyers, those people have been buying Bitcoin and then wisely getting it off of exchanges, which is a good move. This chart here from glass node shows that on exchange balances have gone down significantly during this rally, meaning that these investors are much more likely be taking a longer-term view on their bitcoin investment. These aren’t short term traders and speculators. They’re buying and they are getting it off of the exchange. These are likely people that we’re buying now with that expectation for that big run to start playing up in the next year to 18 months. Or perhaps they’re even thinking longer term. Also, if you are one of those people who are new to crypto, but you still have your Bitcoin sitting on an exchange, then you need to get yourself a hard wear wallet and take control of your private keys and of your Bitcoin. My go-to is the ledger nano. They’re currently running at 27 percent off special on family packs linked Downbelow. If you do. Still need to get yours in other exchange data. News so far in 2020, decentralized exchanges have done more than two billion dollars in volume. Now we compare that to a total volume run, two-point four billion dollars from 2019, all of 2019 combined. And he realized then that we’re still in the first half of 2020. Decentralized exchange volume is expanding big time. And I think this is a really, really good thing for crypto overall decentralized exchanges. They are the future. You stay in control of your keys and they are way quicker to use than a centralized exchange. So great to see that this is expanding. Now, looking at returns of ya’s 20 tokens over last year, it seemed that the market is also giving a lot of value to decentralized marketplaces. So only 30 ya see 20 tokens actually outperformed cerium in the last year. On top of that list is synthetics, which fuels the decentralized future exchange. We have Kibre, which fuels decentralized, exchanging across many different providers. Ether Land, which of course is working with DFI loans and chain link, which obviously is the blockchains equivalent of a data pipeline. But picking the right Krypto, it is a gosh darn tough task because while these 30 cryptos outperformed a theorem, one hundred and fifty different ARCC 20 tokens saw either zero gains or up to 100 percent, basically completely failed. Now, this just serves as a reminder that many tokens remain wildly speculative at this moment and that you have a greater chance of losing everything than making those sweet, sweet, sick games. But if you can find the right ones, then you will make some truly, truly epic CIK gains. But finding them is the hard part. Also, I found some really interesting data made by Adam Cochrane that shows that big companies like JP Morgan Chase, Reddit, IBM, Microsoft, Amazon and Wal-Mart, they have all been buying up a theorem over the recent weeks. It appears that the same time that we have seen a number of addresses for the smallholders, the retail investor, we’re talking about people holding zero points one or up to a hundredth theorem or zero points zero on Bitcoin or up to one Bitcoin. These addresses, usually we think of them as OK as just the retail guys. We’ve seen that growing dramatically. But at the same time, that’s been happening. The big boys. They’ve also been accumulating a theorem. Now, it’s not just these big companies. Of course, I’ve also seen Greyscale taking an active interest in buying up half of this year’s supply of a theorem. But these wallets, in particular, they’re known to belong to these big companies just mentioned they have them buying a theorem. Now, this story is not just different from the story about Greyscale and their Euge a theory in Imbibes because, you know, it’s big companies buying stuff, but because these companies are directly buying and costing the asset themselves. When you buy a greyscale, greyscale holds onto for you. These guys are buying it directly, meaning that aside from just looking for the price to go up, they will likely be using the asset for deploying contracts on the theory network and of course, testing different features and different ways that they can use an open public network like a theorem, as well as my speculation that we will see many major companies running nodes in eath. Two-point. Oh, I mean, hey, why not get it? Wald’s cheap, right? And speaking of ether two-point. Oh, we have a new clue about ether 2.0 issuance from the man Retallack himself. The issuance of Ethe 2.0 shall be reduced down to two million a year. Now that is less than half of the current annual issuance for theory and which is around four point seven million IEF a year. So let’s recap real quickly on theorem economics moving forward. The issuance is being cut massively. Fees might be burned, according to VIP one five five nine and staking is coming. Stinking is coming. Doo doo doo doo doo doo. Remember, 80 percent of the Tesla supply is locked up for staking. What do you think is going to happen to the price with theory? The second most populous, second most valued cryptocurrency when there is a huge surge in demand for staking it theorem? Imagine if 80 percent of the supply of a theorem actually gets locked up for thinking that would be loco. Man Loco. Another 10 percent, maybe locked up for DFI. Newly created a theorem being dropped by more than half. Theorem or ether particularly, is going to become really rare really, really quick. This could be the economic event that is way, actually way more important than the Bitcoin having. We talk about the impact of the wider crypto economy. So definitely something to keep in mind as we do move forward towards Ethe 2.0 and the impact that staking is actually going to have on the second-biggest cryptocurrency. Now over in Bitcoin land. So the Bitcoin having it’s only eight days away. You probably are aware by now everyone’s talking about it. But Bitcoin hash rate has seen a massive spike in anticipation of this event, and it will probably see a massive decline just afterwards. Let me explain. You see, just six weeks ago, Bitcoin miners, all they were in big, big trouble. There was a minor capitulation event happening with mass amounts of machines being turned off. Thanks, of course, to that great little 50 percent drop in the price of Bitcoin that we saw. However, this temporary surge that we are seeing now in the price of Bitcoin, it’s actually giving these small miners as one last little chance to get a little bit of bitcoin before the machines become worthless. You see, the older mining rigs like bit means aren’t miner S9. It can actually generate a profit again at these prices. Not a lot of profit, but enough profit to make it worth turning it on. But the harsh reality is that these miners who are hurting the rest nine’s back on. They’re only gonna be profitable for eight more days than when they’re having hits. Boom. All these machines get turned off again. The way a massive drop in hash rate, unless, of course, the price of Bitcoin doubles between now and then, which is very unlikely to happen in the next week. Now, how quickly new machines actually get shipped out to miners, that’s going to depend on what’s happening with the supply chains, what’s happening with the current crisis. And of course, that will then dictate how quickly the hash rate actually recovers. And it’s new all-time highs. However, a hash rate drop of 50 percent or more, it doesn’t really matter. Bitcoin is still the most powerful computer network on Earth by Miles. Mining investment is still going through the roof. So we’re all good there. The Bitcoin having it’s going to happen next week. You’re probably not even going to notice. So for all of us, you’d who was talking about it, the blocks will continue to be mined. The transactions will continue to be processed. But miners will just start receiving 50 percent less bitcoin for their work. The effect of this, rather a bit of mundane code executing. It’s not going to be felt immediately. It’s kind of gonna be like a snowball rolling down a hill. At first, it’s just gonna be tiny, barely noticeable, but slowly and steadily, the impact of this event is going to grow until becomes released. A full-on avalanche just took out everything in its path. And, of course, that will result in new insane high prices coming to the markets as the effects of 27000 less bitcoin being dumped by miners every single week. At the same time that we see retail demand rising, we’ve seen so much retail demand in the last few weeks really, really coming into effect. Here’s what you do. You buy and you hold your stack and you chill. It’s just simple. Remember, we are still crazy early in the Bitcoin game. Take a look at this chart here. It shows the market cap of Bitcoin versus the market cap of gold versus the Fed’s current balance sheet and versus the current currency supply. Bitcoin still has a little baby bitcoin, bitcoin baby. Anyway, those demises, those guys, your question for today, which events do you think is going to have a bigger impact on the wider crypto economy? Is it going to be the Bitcoin having or is it going to be ethereal? I’m staking very curious to know your opinion on the difference between those two events and how you think it’s all going to play out. Thank you so much for watching Zaid’s video. Hope you have an awesome day out there, wherever you are, whatever you’re doing. Keep classy, guys. Long live the BlockChain Band. Peace out till next time.

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