Bitcoin Price Danger! Bears Take Control as Crisis Worsens


Today in Krypto, have the bears regained control of the bitcoin markets? And could we be ready for some very big price pain? European banks are robbing their customers again. Again. The ECB says another 1.5 trillion euros will be needed for the crisis. And the economic forecast for the global economy is looking pretty gosh darn grim. The Krypto. This is where you subscribe for all of the hottest and all of the latest happening in the wild, wildlands of Krypto. By the way, if you are a crypto beginner and you still need help figuring out all of the basics about bitcoin, then check out my course. Cryptocurrency. Explain. It will take you to step by step into the exciting world of cryptocurrency investing. There a link down below where you can learn more. So let’s go ahead and take a dive into the charts real quick to start off today’s conversation. So that Bitcoin bear flag, which has really been trending for a while now. CMC playing out at the moment with a big break downwards today. Now, such a move could actually send the price of Bitcoin much, much lower in the short term. Now, I doubt if we would see the price go back under the 200-week moving average, which is currently sitting around the fifty-seven hundred dollar mark. That’s really a key line in the sand for support, but we could be in for some price pain more painful than we are seeing at the moment. You know, all of this positive price actually we’ve seen recently. I think that it has led many people to forget that we are still below the key moving averages. I mean, just look around the daily. So the 50 days moving average, just look at it. We’re still well below that is actually supers were fascinating to see the 50 days moving average acting like such a strong line of resistance for the price of bitcoin right now. Now, considering just how much the market is currently respecting the 50-day moving average, I think that’s going to be a key line of not only resistance but of support when we cross over it. So we really need to see a strong close with good volume above 7000 $150, which of course would just be above that 50-day moving average. I think we all do decide to get really, really bullish when that happens. They are great guys. Great, Ebbe, fantastic. But until then, walk softly and carry a big stick because it is bear country out there and those bears are hungry for your cheap bitcoin. Do not be bear food. They will gobble you up, stack SATs and chill. Anyway, this bearish sentiment is definitely dominating the mind of investors right now. And just look the bitcoin fear and greed index. It is showing a 10 today and that the market is still gripped by extreme fear. Great times for Bear’s bad time for bulls. And obviously considering the wider economic situation, I’m not surprised. Maybe investors just in a state of disbelief. Bitcoin is going to go to the moon relatively soon. But look, while the global markets remain so tenuous, we will continue to be gripped by fear. Bitcoin believers, they just continue to stack PSATs and shills. Though the number of bitcoin addresses holding one or more coins actually just reach another all-time high of eight hundred and three thousand eight hundred eleven addresses. Please see past the short term fear. Look farther down the road. Look where bitcoin is going to be in five years, not in five days. The bitcoin having it’s only 30 days away. And while the day itself will probably be a very big non-event, the long term impact of bitcoin having that is euge. Just remember that demand is increasing. All of the time for bitcoin, max xi is across a lot of different address variations. Zero-point one bitcoin addresses are also new. All-time highs, for example, as well as big holders to the daily creation of bitcoin, is about to drop from eighteen hundred down to nine hundred. Just imagine what this will do for the price. Demand is increasing. Supply is going down. Yes, short term we still have a lot of uncertainty, but I remain incredibly bullish on the big picture for bitcoin. A big thank you to AA ex exchange for sponsoring today’s episode. X is powered by the same technology used by the London Stock Exchange. A X also offers a great range of crypto assets to trade either on spot or on margin, and now they are about to have a flash sale for their A A B token. Now the token is a must-have for anyone who is planning on using the AAA X exchange. The token will offer up to 50 percent off on fees, higher interest rates for lending and borrowing products on the exchange, as well as access to unique financial instruments like security tokens and commodities, which will be listed in the future, as well as access to bots in signals and a whole host of other VIP services. Also, all revenue from their futures exchange is used to buy back and to burn the AAIB token until 50 percent of the supply of the total token is burned and tomorrow they’ll be hosting a crazy flash sale for the tokens of 50 percent of all successful buyers will get their USD t refunded back to them and they will get to keep their tokens for free. Sweet deal. There is a link down below where you can learn more or go in. Grab yourself some tokens. OK, onto the big stories of the day and let’s start off over in Germany. A grand total of 80 banks over in Germany are now charging negative interest rates as the crisis. This continues to grind on and to deepen in Germany. While the majority, these banks are only stealing from bigger account holders, 16 of these banks are also stealing from smaller depositors. And yes, it is theft. Make no mistake about it, the number of banks robbing their clients has doubled since February. The official policy of the bank to rob their own damn clients. It’s crazy. Now the rate is only small. At the moment, it’s only 0.5 percent that the banks are stealing from customers right now. But it sets a very, very bad precedent. And as the crisis worsens, this number is likely to increase. And if you live in a country that’s not Germany and maybe you don’t have negative interest rates yet, especially ones are being passed on to you by your bank. Just remember what’s happening right now. Banks are proving they are more than happy to pass this on to you and to loot your bank account to cover their butts. Remember, no one will ever take your bitcoin out of your account. It is real wealth protection and no. Yeah, okay. Sure. Bagus says. But last Bryce Bitcoin is going to go down soon. You were just talking about how the bears are in charge of the market. Well, is a lot more than 0.5 percent. If I buy bitcoin now. Big picture. Big picture. You can even consider, for example, stable coins. Just look at the rates for lending them out, the arrangement eight to 12 percent and they could be crypto collateral, stable coins. It’s way, way better than being drained of your wealth in the bank. The whole damn corrupt system bitcoin is checking out of that corrupt system. That is the point. You’re not contributing to this corruption in this insanity anymore when you buy bitcoin and you hold your own Swiss bank in your pocket. Okay. Let’s move on to another story out of Europe. So the EU has agreed to a five hundred billion euro coronavirus rescue package, but the European Central Bank says that 1.5 trillion will be needed. Did you hear that? Another one point five trillion euros will likely be needed on top of this. Five hundred billion as already been agreed upon. Did you hear that? Seriously, what with the sound, she gets hurt by going crazy here, wait. Oh, now I get it. That’s the European Central Bank printers gearing up to print the euro into oblivion. I mean, really, how else do you think that the ECB is going to call the 500 billion euros overnight? They’re broke. They’re broke. All of the banks in Europe are broke. This isn’t coming from a savings account. None of these banks across Europe or the European Central Bank don’t have rainy day funds. It’s all just print, print, print, print. It’s crazy. What a position these banks force you who they steal a little bit from you. Each year with negative rates and they steal a little bit more each year with inflation. The game is rigged. Folks heads, the banks win, tails the banks win. It’s funny this so many, you know, normies out there see holding bitcoin as some kind of really big risk. The real risk is not holding bitcoin. Fiat is not the safe haven that many people imagined being. It is a slow-motion train wreck. Bank bailouts. So the banks never lose. Bank bail ends to rob you so that the banks never lose. Banks increase fees and decrease services. They never lose. Only you lose. Negative rates. So the banks never lose. Inflation and fractional reserve lending. The banks just never lose. They keep on winning. And you as a consumer usually keep on losing. How’s that old saying go? If you have a gun, you can rob a bank. But if you have a bank, he can rob everyone. Now, moving on, Credit Suisse says that the U.S. economy will shrink by a shocking thirty-three point five percent next quarter. This is the biggest drop in history. Now, for context, the worst quarter of 2008 suffered only an 8.4 percent drop. The total expected drop for 2020 will be around 5.3 percent. Assuming that we will see recovery later in the year, which is still twice as bad as 2008. And of course, it’s not just the USA is getting hit. A U.N. study has said that currently 81 percent of the world’s work first or 3.3 billion people have had their place of work fully or partially closed because of the outbreak. Those are insane numbers beyond a doubt. In total, over 170 countries will experience negative per capita income growth this year in what is anticipated to be the worst economic fallout since the Great Depression. Oxfam is predicting that by the time the pandemic has finished, that over half of the world’s population of 7.8 billion people could be living in poverty. This is grim. This is dark. This is serious. This is economic. Just total catastrophe right here. And I bring this up because I want you to keep in mind that markets can get way, way worse before they get any better. To an extent, I think that a lot of investors right now are living in a false sense of safety. They see the central banks come in and think, well, they’re going to save us. It’s all going to be fine. The worst effects of this crisis could still be to come economically. And that is really important for us to understand as crypto investors because Bitcoin has been following the traditional markets very, very closely. So stay frosty, everyone. Bear country out there. Be careful. Now, those, of course, are just my two Cito. He’s as always, I would love to know. What do you think? Will the economic element of this crisis get way, way worse? And if so, will Bitcoin be pulled down with the wider markets or we’ll actually see bitcoin breaking away? Have we moved past the liquidity crisis portion of this crisis and now moving into the inflationary part of the crisis where bitcoin will shine a light across the land? Let me know what you think. Down below in the comments section. Thank you so much for watching today’s video. If you did enjoy it, Jack hit that thumbs up button. And of course, subscribe to channel. If you’re new around here, long live the blockchain and peace out the next time.


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