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Bitcoin Rallies Higher, Binance Bullish, XRP Resistance, Bold BTC Forecast & Ironic News Of The Day

VIDEO TRANSCRIPT

Hello, everybody. Welcome back for another video. Hope you’re all doing well and that you’re all having an incredible day. To start things off, going closed the week up 15 per cent at sixty seven seventy five. And I started the day with a further six percent move to the upside, reaching the seven thousand dollar mark, making highs of seventy three hundred actually moved a little bit further than that over the last couple of hours. Looking at performance relative to its peers, Ether and iOS have posted an impressive 16 percent gain over the past 24 hours. As a result, Bitcoin’s dominance is down by 1.5 percent and is currently roughly around sixty five percent as well. The total cryptocurrency market capitalization breached 200 billion dollars, breaking from the diagonal resistance during late February when the total market value briefly touched three hundred billion U. S dollars. As you might imagine, there is a lot of optimism floating around the cryptocurrency space right now. A lot of people are happy that bitcoin passed by seven thousand. No real reason as to why it should have been below 7000, just my personal opinion. However, we are at the point right now. So the price is actually down a little bit. It was actually around seventy five or fifty seventy five hundred maybe about an hour or two ago is always that big run up like a little dip because everyone gets. Oh is this is it, is it, is it getting too hot. That’s kind of where we are right now. And now the big question is, are we going to start to move towards eight thousand, apparently, take this how you will. According to many articles, they say that if we do pass eight thousand, this will be an indication of a bull market or a hyper bullish sentiment that has once again re-entered the market. I already think it’s their personal opinion. I think the only thing that’s really holding us back are people who are either trying to still accumulate, which I think can maybe go on persistently forever, as people are always trying to get to more of an asset that they believe is undervalued and or I don’t know. Many factors could lead us back over that eight thousand. But I assume assumption that what’s holding us back is mainly people who are trying to keep the price down, like I mentioned before. We’ve had situations. I told you all this before a couple of months ago in 2017 when I saw all the coins like really, really pumping. And you would look at the charts like the actual like our buy our charts any time we passed any. Let’s say this line is a point of resistance if we got near it. These sell orders would multiply immediately, trying to push the price down as far as possible. But the moment it broke here, it would slam over that level. All the all the positions would get liquidated and the price would kind of shoot back up. So who knows what will happen. But it appears that we are aiming for eight thousand dollars during this week. I think we can do it. I think there’s nothing really holding us back once again except for the aggressively rich who are trying to make sure that prices remain low, as you might imagine as well. The wider cryptocurrency space also benefited from prices, or at least the price of bitcoin rising. Everything else is moving and not even in tandem. I think bitcoin rose by four or five percent and at the same exact time I think ether shot up by like 20 percent. So yeah, you might imagine as as finance coin turns bullish and rises above fifteen SRP retreats from key resistance, but bulls are comfortable. I think we passed by 20 cents and a half or something like that last night. Prices are like I said, like a smidge down. That’s only because it was a bit of a pullback because I assume I think Asian markets should just be waking up and also or have already woken up. And also, you know, things can’t get too hard if we if we do have an increase in about 38 percent in a day and a half or prices are going to move back. So I’d rather have a steady five or six percent a day, if you will, steady as opposed to a one huge explosive movement over the course of a day. But yeah, prices are looking good. And without further price ado, let’s move on. Next up, Morgan Creek co-founder Jason Williams is extremely bullish on Bitcoin. He expects the world’s leading cryptocurrency to turn in a spectacular performance in 2020, despite the economic turmoil that has rocked nearly every industry as number 19 continues to be a douchebag. The executive of the digital asset management firm says he believes that the top 19. But looking at the number again, that’s a tough look. Feel like my my mind finished a sentence up here believes that the top crypto currency was open or so passe. Wow. Surpassed its all time high. Okay, I’m good. I’m good. I’m good. Passes all time high of twenty thousand dollars in September. He said the world is trading bitcoin. Twenty four hours a day, seven days a week. New all time high coming in September of this year, IMO. Oh, no, sorry. That’s I M0. That’s in my opinion, it’s really funny. I have a friend who also just outed daytrading. Hello to you. And he was reveling at the fact that the cryptocurrency market is 24/7 because I have a CO I have another friend who also is thinking about getting it to stock. I mean, just get into something, get into something where you can invest in kind of make money. And my friend, one friend was like, oh yeah, I’m glad that the stock market kind of closes. And the other friend was like, it’s open 24 hours. I could just keep trading all the time. In spite of the overall optimism, William says he’s actually bearish in the short term and doesn’t think Bitcoin will rally until after the having event, which is set to happen in May when the amount of bitcoin that miners earn from powering the network is cut in half. William says he thinks many may be forced to sell their bitcoin holdings to keep the lights on, creating an opportunity for investors. Most think Bitcoin is going to rip before and during the having. I just scratch my head. I think it could go even lower due to minor capitulation and sell pressure. I hold and come in with fresh capital opportunistically. That doesn’t work for everyone, but is just my personal strategy. I don’t I don’t get shit or whatever. Although Williams thinks bitcoin will take out twenty thousand this year. Other traders do not share his ultra I don’t think 20. I don’t think twenty thousand is ultra bullish. I’m seeing people calling for a a seventy eighty thousand dollar bitcoin by December. I think that is that’s a that’s a herd of bulls right there I think. Twenty thousand I think even fifteen thousand is relatively believable. I think my opinion. I think so many people get used to the idea that because we move up, that we have to move down. If the price moves up too fast, that the price has to go back down just as fast as well. For some reason, there’s this very weird negative sentiment cloud over the cryptocurrency space. Not exactly sure winning got started. Why it’s still here. I think it just has to do with the analysts who whenever, whenever, whenever cryptocurrency prices go up, they make sure to rush to read it in Twitter, to tell everyone that it’s getting too hot. Like I had to I was dodging bullets earlier from all the articles saying that just just just just buy bitcoin going up by 5 percent. That that was already too much, which is nonsense. Once again, fundamentals all there. We know that there are certain mining station, computer, whatever, who are reeling back a tiny bit, their amount of. Hash power when it comes to bitcoin network. But that doesn’t equate to Bitcoin should be dropping down to three thousand because Tone vegas’ was someone else says so anyway. Especially with the amount of wheat, we keep getting news all the time that there are billions of dollars being pushed into the market, whether that be OPEC or simply other people who have just started trading or buying up as much cryptocurrency as possible. I know a couple of people. Who are very close to one entire Bitcoin, and I’m certain I know they they they think they won’t, but I know they will. They’re going to keep accumulating after they get that entire one Bitcoin. But it also leads us to the question or rather to the statement, there’s not a lot of bitcoin really floating around out there. So any type of negative news that we get. I kind of just really brush it away. I’ve heard it for so many years, even from many other cryptocurrency analysts years ago when Bitcoin’s price was two hundred. Yeah. Bitcoin is going to fall back down to 50 and the bitcoin hits a thousand. And there lie wall. It’s about the price just looks too hot. It looks like an oven. And then bitcoin goes to like 5000 a day like, no, no, no, no, no. It’s it’s going back to nine hundred. So we’re always gonna get people who. I don’t know what it is. I don’t know what their fascination is with trying to negatively call numbers within the cryptocurrency space, but it just creates this really weird cloud. If Bitcoin goes up, it’s fine. Like if Bitcoin goes up by 80 percent in a day, that’s an indication that things have gotten too hype. Things are too hot. But if we have these movements up slowly over the course of a couple of weeks, it’s totally fine. Like Bitcoin fell down to three thousand five hundred because we knew that Wales sold. We all had that information. So for Bitcoin to go back to where it was before the sell off and maybe six, seven, eight hundred dollars more over the course of the last four or five weeks is totally fine, especially when we know that the supply is about to get cut in half. Anyway, the point is there is still a vast amount of optimism within the market, but a lot of the discussion is now because of everything going on within world markets. And I guess even the the falsified drop that we had a couple of weeks ago in the cryptocurrency market is if Bitcoin is going to rally before, during and after a day like a finger movement with that kind of weird after the having or before the having actually takes place. I think no one knows. It’s kind of even as to exactly what people think. I personally believe we’re going to see a move upward as we get closer to it because the hype will be there. To be fair, light coin rallied before it’s having as did other coin who also had a similar having. Ish type event. I think we’re gonna rally towards it. I tell you this now. Don’t be surprised if the day of the having we see tons of sell off. I think a portion of it will be from people who are. Who think they are smart and they’re selling off because they think other people will sell off, but the rest of the sell off will come from Wales. And we won’t get that whale information until a week later. But I think the the. I do want to say the damage will be done. What’s going to happen is prices are probably going to move up before the having because the hype will be there. Bitcoin will probably pass by ten thousand because the hype will be there on the day of the having or the day after when the selling actually takes place. We’re gonna get tons of news, capitulation, market crash falling apart. What’s happening to bitcoin? What’s going on? Bitcoin is no longer digital gold because the prices will be going down. And then we’ll realize a week later that it was just the whales doing it. But the news will have already gotten now that bitcoin must inherently have some type of problem because the price went down after the having with people not usually realizing that is usually after the having as well when the demand still remains. And people are the people who’ve sold off their bitcoin when they tried to rebuy their bitcoin. And they realize that other people are also trying to buy their bitcoin because the reward has been say with me, cut in half and it’s not as easy to accumulate it anymore. This is what causes the price to go up. Anyway, we’ll see. The estimates that we have right now are ranging anywhere from. Fifteen thousand by the end of this year. Twenty thousand by the end of this year. Twenty thousand by September or fifty thousand by the end of this year should. We keep. Tumbling economically in traditional markets. Oh, yeah. Let’s move on. Next up, the digital one will pass extensive testing by the Bank of Korea staff per the official announcement. The program will last until December. Twenty, twenty one. South Korean businesses and officials were talking about the government backstage coin since December 2018. The central bank was hiring different industry experts. The experts prepare research on the central bank, digital currency related progress in other countries. Also, they propose their own legal initiatives, too. Why? Why are words missing from this? From this? Their own legal initiatives to approve the project. Now the central bank seems to be working really closely on its digital one. Okay. The design is not the classic blockchain with open no participation do. Contrary to the classics, the central bank plans to issue a stable coin. OK, say bitcoins are better at volatility. Almost zero volatility, but worse at decentralization. I think we all got that. However, as the example of many RC 20 tokens in USD TI shows, you don’t have to attract much of the participants. You just need to engage the key ones. This this entire article makes no sense. The point is we have confirmation that the Central Bank of South Korea is apparently officially testing. Their digital currency. None of these blockchains are going to be open. I’m sorry to shock all of you. But governments are going to try to continue to maintain control over. Whatever they think they control at the moment. Yeah, that’s the that news for today. There were a couple of other countries who came out as well talking about that. They’re thinking of testing it, we know. Stop it. We know that they’re not thinking of testing it. We know that they’re testing testing it or have already created it. Probably it is looking for the most opportune time to kind of release these coins out into the wild. But I gave it five years and within five years, every country, every major economic power country should have their own central bank, digital currency as it’s just how life works. Tying directly into that one says be-I. Yes, that is the Bank for International Settlements. Researchers forecasts adoption of digital payments amid nineteen. Any what? Huge. I’m shocked. I didn’t see that one coming. This is a perfect power grab for governments to be able to implement as many things as they possibly want to do. So we are definitely at the point where this has gone on for so long that they can simply say. We’re gonna do this, we’re working on it. Yeah. Is anyone surprised that the Bank for International Settlements is talking about or thinking about or pushing some type of research about the adoption of these things? Because the b.a.’s also once capital tracking. That’s a very well known thing. Anyway, that’s. That’s your super obvious news for. Next up on Monday, crypto exchange bilats announce that it has released Hej mode on its crypto futures platform. Chung Ping saule announced the news on Twitter, he said. You asked for it. Did did they? And we had nothing else to do during the lockdown. Finance now has hedge mode. This is how Bynum’s his announcement describes hedge mode in hedge mode. Users can hold positions in both long and short directions at the same time under the same contract users. Oh, that’s interesting. Users will now be able to switch between one way mode and hedge mode in the settings. But my back is killing me. Oh gosh. The position mode is set as a one way mode by default in order to be able to use HEJ mode. Users need access to the latest version of the trading interface, which is the case in mobile users means making sure they either have version 1.2 1.1 and above the Android version of Who Cares by then says that in one way mode it is possible to only hold long positions in one direction. That kind of how it’s how it works. whileiN hej mode. It is possible to hold positions in both long and short directions at the same time under the same contract. I wonder if the people from buying ence. No. Maybe. Did you guys ever see. There was an episode. Oh, gosh. It’s like this is this is very layered. There was an episode of South Park where they made fun of Family Guy and it was pretty much like there was a huge fishbowl. And every single time that a joke would be made, someone would dig your hand into the fishbowl. They would kind of open it up and see whatever the joke was. It would place them all together. And that’s how. The joke would be formed. I wonder if the people from buying ads like pretty much have a fishbowl all had an idea. Throw it into the fishbowl. And every day they just kind of like announce a new one. This is now the this is the eight hundred and forty Earth Day random number that by NANCE has announce something like every day. Biogen’s has a new platform on their. Platform. Sure, go for it. If it works for them, by all means, I do tip my hat to the but is very fascinating that there’s something new every single day. I do fear for the future. However, when people lose money in hedge mode and then go to customer support and buying ads, announcing or rather saying they didn’t know how hedge mode worked and therefore they want their money back and or they’re going to try and sue by NANCE because by Nancy to make it clear that along was a long and a short was a short because that’s how. That’s how suing works now, anyway. Yeah, that’s the. Bynum’s news for the hour. I assume there’s already brand new Bynum’s news that’s come out that I haven’t even. Seen yet anyway, let’s move on. That new research from the crypto mining operation BLOCK where Solutions offers a detailed breakdown of what may happen as the highly anticipated Bitcoin having arrives. The event, which is set to occur in May, will slice less aggressive, will slice in half the Bitcoin reward that miners earn for processing transactions. Its immediate impact on the Bitcoin cryptocurrency market has been highly debated for it’s been over a year. It hasn’t been months as bids bids. It’s been more than a day. According to the report, the having is likely to trigger a shakeout before the breakout. It sounds like it was that food thing shake and bake. And so anyway, the shakeout phase could see widespread capitulation as bitcoin miners who can’t afford to pay their bills sell their bitcoin holdings. And switch off their rigs, causing the price of bitcoin to drop it down to five thousand dollars. After all, the inefficient miners who that’s rude and efficient miners have capitulated. The firm says a significant amount of these sell pressure from miners will be removed, leaving a solid backbone of strong miners who don’t need to offload their bitcoin to. In addition. BLOCK where solutions. Sorry. In addition, BLOCK where Solutions analyzes Bitcoin’s built in difficulty adjustment, which automatically rules reviews network activity and adjust how much computing power is required to process transactions. The researchers expect it is to be a key factor keeping miners in the green and ensuring that Bitcoin hits a bottom after miners have shut off capitulated. Newly mined bitcoin is allocated to the most efficient miners, which minimises cell pressure on the bitcoin market. As these miners are working or well above their break, even prices, I think a lot of these smaller operations will probably. Leave, I couldn’t find a word I was looking for something with an F flourish, flutter, fly away, flip flop, flippity elate something with an F. That was in my head. I assume these smaller mining operations will fall or fall apart. Was that it? No, it wasn’t it. Something’s going to happen to them. And I think the the big boys are going to kind of take over. This is is a tale as old as Time, Beauty and the Beast. We’re pretty much there’s always some type of a shakeout within the cryptocurrency market. I think people don’t realize that they’re being shaken out. And years later, they kind of realize that they sold off their bitcoin or they got rid of their bitcoin or something happened to them. It happens all the time. Every single major event, any type of price movement upwards, even when we have prices going back down and people sold, didn’t really know when to buy back in, could never buy the same exact amount of bitcoin that they had before. And a lot of the players who seem to be getting into the cryptocurrency space now, I think they have no real intention of ever really selling off their bitcoin and if not massive amounts of it, simply because once again, I still think the New York Stock Exchange and the Nasdaq and Fidelity and all these other people already have mining operations. I don’t foresee them selling any bitcoin anytime in the near future. The bills would probably be paid by their other investments that are then keeping the lights on, if you will. It’s kind of all over the place. No one really knows. Of course not. No one knows exactly what’s gonna happen when the having it takes place or is near. It seems relatively believable. I think we’re definitely gonna see a lot of people who are going to complain that it’s more difficult to mine bitcoin. That’s how the having works is meant to be more difficult so that there’s a. I have to sneeze. Go away, go away, go away. OK. OK. OK. I forgot what I was saying. The point is. Yeah, some sometimes do something dramatic is going to happen. I guess that’s the easiest way to sum it up. I assume in about two weeks the news is going to be completely insane as we are very well will be. What is it, seven days away from me at that point? The news is gonna go completely ballistic. I assume assumption that prices will. Be moving on up as we get nearer. I think is just more of a question of like what happens on the day of and what happens after. They will definitely be a shake out of some sort. It will to be a shake out of minors. It’ll be a shake out of people who think that prices will go lower or to be a shake out of people who sell and then don’t realize that at some point the price is going to go back up. So get ready for friends and family members who hold Bitcoin who are going to sell and then about three years from now will keep telling you about this. One moment has to how they wish they hadn’t sold. Yeah. Let’s move on. And to finish things off and the most ironic news on this planet, the National Internet Finance Association of China, a self-regulatory body while ago figure under the People’s Bank of China, issued a warning on Thursday against the fake trading volumes reported by overseas crypto exchanges because, of course, theirs are the most trustworthy. The watchdog agency detailed that some of the digital currency platforms are taking advantage of the recent volatility of the traditional markets, creating a hype that digital assets are safer than investments in gold or silver. It’s not that they’re safer is that you make more money than having like I would have lost money if I had gotten gold. In 2012, as opposed to getting Krypto, I’d be pretty far behind on my portfolio. I think gold went from twelve. Hundred I think it’s at sixteen hundred now. Bitcoin went from two hundred to seven thousand three hundred. I would’ve lost a smidge, I would’ve lost a smidge of money. It’s just a little smidge. Is that these platforms are creating illusions of prosperity in the virtual currency trading market. Through actions such as robot program brushing and data tampering. Don’t talk about data tampering, do that. That’s too ironic. And our sampling analysis based on trading data from some of the exchanges, the daily trading turnover rate for most coins. Well, for more than 40 coins is over one hundred percent. While more than 70 coins rate exceeds 50 percent. Despite the relatively low price and small market value, there have been massive trading volumes. Without having to go much further. This is news that was everywhere, news. For some. I mean, it’s as it’s not a for some reason. We know the reason why I’m going to assumption that as. Markets around the world have felt the pressure, if you will. From not only 19 percent, say Android 19, not only from 19, but also from. You know, the economic system being garbage, like many countries, just assumed that economic prosperity would last forever, that you would simply be able to. That there would never be a hiccup in the system, another there is a, you know, couple week long hiccup. They they simply can’t deal. So I’m going to assume that as that country has control over just about everything that happens within their borders. For those of you who don’t know, please watch a documentary, watch some type of news or something. Every text, every text, every text that goes through within that country is gathered and read by the government. That’s not a joke. They have a guy that actually because they only have a couple of major platforms and all these platforms have to be approved by the government. When they’re approved by the government, they’re integrated into the government systems. And they can tell if you say something negative about the government, you are then flagged, not joking, your account gets taken down or your your social score takes a hit. So I’m going to assumption that during the last couple of weeks, as prices around the world for everything have been going down, there’s been that narrative within the country, hey, let’s look for something else that is making money. And therefore, they’ve definitely seen the letters BTC or the word bitcoin flowing through way too many text messages than they would actually care for. And this is why this data ends up coming out. Still interesting to note that Bitcoin is legal. Within China, it’s just more of a thing, you can’t trade it. You can buy over the counter once again because your data has to be collected, but you can’t actively do it on cryptocurrency exchanges. However, VPN ends and many other things do exist. So I can only imagine the amount of people in that country who are actively trading daily and are making absolute bank. I guess this is more of a. Smack to the back of the head, warning like a don’t do it. We know that you’re doing it. Stay within the lines. Don’t call her outside kind of thing, because it’s very ironic to talk about fake volumes and fake numbers because. Anyway. Yeah. China, release that information because I listen. Why else would you release that information? I’m also thinking about it. We haven’t seen any cryptocurrency ratings from from China in a while. Mm hmm. Interesting. Anyway, yeah, that’s your. How ironic news for the century E! As always. A very special thank you to my Patreon supporters, Professor Whiley from Guttenberg University, Yashar Hardy Moon Madhi Sarpy, Joshua Vinyard, Martin Steuer, Josh Gorcyca Chong on Old Song Golo Lo Love That A Biblio Phobia The Animal Reider, John Sarrazin, Mr Pickles Nostromo Bones Mining Todd Mullis Adam Grayslake Mohair Moroni Master Ventures in Thailand. ratey Neild Jan Schneider. Why Night Owl 2 for 2 to the World Krypto Jo Bankrolled Network Adobo Milanesi Krypto Artist Goldie three-D Nicholas Winner with One Piece, One Love Damien setsuna, Nick Conni or Ritchey Which the Third Vlad the Impaler, Krypton Beer Shipmate Pyxis Nick Mun, Jeanna Body. And Then You, Charles Jim Garner. Jamie Fox minting coins Miller Hitch Chest every day and Kyle skips leg day. Yes, to Krypto. What do you make? Boat face anytime. Fitness Hmongs Corner staff are medic 17. Bake me a cake. I want a cake now take a rematch I only saw on Krypto with Lino Crayola. Michelle, you are Elle and hold on. I have to sneeze. Thank you all very, very much for your support and thank you to everyone who is a supporter of the channel. Click the little join button below and thank you to everyone who used my Amazon affiliate link. That was that was crazy. Thank you all. Yeah. I cannot say thank you enough. I could, but it would it would add like another hour to the video to just be kind of awkward after the three hundredth time I said it at the moment. The market is up, it’s upper than when I first started, it was around here. This was the dip I was talking about. For those of you now looking at the screen, just imagine a dip in your mind. And now the dip is like half on dipped as prices seem to be going back up. Cerium is up by fifteen point nine three percent, e.t.c. is up by 4.5 percent. Ex Arpey is up by 8.2 percent. Litecoin is up by 10. iOS is up by 13 percent. These are great numbers to see. The wider cryptocurrency market, of course, as you might imagine, is also up as well. And nothing is up by like eight hundred ninety five percent. I’m sure there’s some scam coin in the 2, 3, 400 range. That’s kind of. Retain Thor is also up by like a like an up up. Yeah. It’s nice to see. I think that crypto is constantly average. Let me rephrase that. I feel like a lot of coins within the top 10 are very. And it’s empty. Yeah. Yeah. Yeah. Top ten are undervalued, specifically some of the higher ones. And it’s nice to see not them being. I think they’re still heavily undervalued but. I don’t know how I’m trying to end this. The point is prices are up. It looks really good. I assume that we will continue on this upward trajectory as we move closer to the having. But do expect. Prices to drop. There are always going to be good and bad, Weill’s good and bad actors are going to be people who want to lower the prices of cryptocurrency. Even if you may be having a good old jolly time because they may think that prices are I. I can feel it with an hour to when everyone else starts waking up, I’m going to start getting the news. So many people think that the market is over overbought and that prices have to go down. I don’t get it. I don’t think I want to get it. I only want to know these people. I don’t. I don’t see that negativity in my life. I hope you all enjoyed. Hope you all are having a great day. A great morning. A great afternoon. A great evening. Wherever you are, wherever you might be. I do hope that is absolutely faith. Fantastic. Thank you all once again for watching and or listening. And I will most certainly. Be talking to you all soon. See you.

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