What’s going on, guys? It’s K-Dub here with another episode of Crypto Zombie. Welcome back to the Channel. Hope you’re having a great day today. It is a beautiful green day in Bitcoin and cryptocurrency land. In fact, we actually had a crazy night last night. We got down all the way to six thousand four hundred and sixty four dollars. Massive blast off. Bitcoin got all the way up to seven thousand one hundred and sixty. And currently looks like we’re putting in a little bit of a mini flag over here. So lots of people getting excited out in the bitcoin and cryptocurrency land. So my question to you is, who bought with all their stimulus money? Was it you? Was it you? Did you do it? Is that why bitcoin is pumping, that everybody just dumped their stimulus checks into Bitcoin and cryptocurrency? Well, in all sincerity, I do have two things to say about that. Number one is the fact that we actually have this emergency money for the people act that’s being proposed, which would actually give U.S. citizens $2000 every month until the end of this situation, this health crisis is over. However, I do want to discuss the fact that some are saying that, you know, this big spike that we’re seeing in gold, this pump we’re seeing in Bitcoin, even the recent 20 percent, whatever it was, increase in stocks is a little bit of a buy the rumor, sell the news. In fact, they’re saying that maybe some people are just frontrunning it assuming that the economy is just going to absolutely spring back. And actually, once it reopens, things could potentially be worse. OK. So we do have to talk about that. However, on the bright side, according to this chart, the rainbow char, it’s kind of been going around the Internet. Again, it’s been around since 2014. If we look at it, it’s actually showing that currently Bitcoin is in fire sale mode. Essentially, now is the time to buy. So we’re going to get into all that today if that sounds good to you. Well, you know what to do if you’re not subscribed. Well, we do this virtually every single day. Definitely considering. And without further ado, let’s dive directly in to the charts now. Although this pump does seem pretty incredible for Bitcoin overnight, lots people getting excited. I do want to point out, unfortunately, that we are still being held down by the resistance. You can see right here, we touched it. We had one more touch again. And currently we are being held down. So this does mean that Bitcoin could push down, unfortunately, again, to retest the six thousand six hundred dollar level if we were to fall below that. We do have this trendline support, which from this level would put us around six thousand three hundred dollars. Now, I’m not going to go totally bearish. Obviously, you guys know I am a long term bitcoin bull. However, not only are we being held down by that resistance, but if we zoom in, we also have the major 50 day moving average resistance that we’ve been speaking about on the channel. And currently that is holding us down right now. And as you can see, we don’t have much more time to get to the end of this apacs. So essentially within the next 24 to 48 hours, we are looking for a major Bitcoin move. I said this yesterday. So we’re you gonna see some kind of a crazy breakout to the upside or potential breakout to the downside. Now, short term, I do want to once again point out that we have the seven thousand two hundred dollar level where the V.P. VR is. I’ve been talking about this for a long time and you could see the significance of it how right here we’re being held down. And that’s because it was major accumulation level back here basically from the end of November all the way to the beginning of January. Now, you can also see here, obviously, we have it again. And like I said, we do have the 21 exponential on the weekly coming down. Now, I originally was looking for around the seven thousand eight hundred dollar level. Bitcoin’s been kind of just hanging around doing its thing as it takes longer to get to these levels. Well, it looks like these two points are going to meet. So even if we are to get above the $7200 level, we still have a lot of resistance at around seven thousand six hundred. OK, so keep your eyes on those levels. But honestly, guys, as long as we can maintain above the 200 weekly moving average, the the basically this average has held bitcoin up since January of 2015. It’s never fallen below that. It did briefly we briefly fell below it during the crazy freakout with the pandemic, but we were able to actually successfully put the next bar above it. So basically, we don’t want to fall below five thousand six hundred dollars. And if we can get above the seven thousand two hundred and break the seven thousand six hundred dollar level, well, then I would say it is blue skies for bitcoin and cryptocurrency. Let me know what you guys think. Is this just a fake out? Do you think this is stimulus checks buying into bitcoin? Is it just Wale’s playing games? I mean, you can’t deny that we are hitting some of these very critical levels. Right. However, one thing I do want to point out, we have been talking about gold. We haven’t talking about bitcoin. And yes, gold is currently short term outperforming Bitcoin. However, in yesterday’s video, we discussed the fact that gold, for example, took 5000 years to get to a one hundred billion dollar market cap. Bitcoin did it in eight. Thanks for that, Dan McCardle. But keep in mind that when gold was at its. Bottom in 2015, it only pumped 65 percent to where it is right now in that same amount of time. Bitcoin has pumped over two thousand two hundred percent. In fact, if you guys don’t believe me, you could check out this interview that I did yesterday with the crypto LARC. Thank you so much for having me on the channel. It was awesome. Check this video out. We go into it. We’re talking about my portfolio. While Lark was very interested in Nahm, how I’ve gone very heavily into bitcoin. And yeah, so we were talking about the difference of gold and bitcoin and how we feel about it moving forward. Really fun interview. Always a great time talking to Crypto Lark, so definitely check that video out. I’ll drop it below. Popping up above. Yeah. Check it out after the video because we do have a lot of things to talk about. Number one being the fact that the fear and greed index is still an extreme fear. So you’re seeing a lot of people, even despite this recent poll, very afraid to buy into bitcoin. Now, granted, we’re not extreme fear, but what do they say? Right. Be fearful when others are greedy and be greedy when others are fearful. In fact, if we actually go down here, you can see that during these time periods when Bitcoin does tend to fall sort of below the 20, you know, 20 out of 100 on the Fear and greed index, it is an excellent time to buy. And one other metric that’s been sort of circulating around the Internet again is the Bitcoin rainbow char. I’m sure you’ve seen this before. Lots of people reference this. However, you do notice that basically each color represents sort of when to buy into Bitcoin. No, keep in mind, this chart has been around since I think it was either late 2014 or early 2015, something like that. But it has basically held up even all the way to the twenty K peak. In fact, when we got to the twenty K Peak we literally went into a maximum bubble territory and we had a well a year and a half of basically declining prices. Right. Well you can see right now we are lower than the buy. We are actually in what is being called the fire sale level for bitcoin. So if you are a long term believer in bitcoin, you’re a bitcoin hodler. I mean, essentially, according to this chart and this chart dates all the way back to pretty much 2011, we are in optimal time for buying and accumulating bitcoin. And look, I understand that things could get worse with the economy. No one is a fortune teller even. I don’t know what’s going to happen. I’m just a crazy guy on the Internet. Right. But having a look at this compared to other times in history when you could buy cheap bitcoin if you’re new to crypto, if you’ve been waiting for the past three years. This is a blessing in disguise. No financial advice. You do whatever you want. But that being said, if you don’t believe that institutions are accumulating, we already showed you that the 48 hours after the dip, according to Coinbase retail was accumulating. Well, now Greyscale says it raised a record $500 million in their first quarter. You could basically see that this nearly doubled the previous quarterly high of about $250 million, which was in Q3 of last year. So they say that while Bitcoin weighted trust continued to be the company’s most popular product, and this is gonna make a lot of my altcoin fanatics out there happy. They also received record inflows for a theorem ether as well. So that’s pretty cool. So they say that they raised six hundred million across the whole of twenty nineteen with Thursday’s report showing the company raised $500 million in Q One alone. That’s a lot of money for people that are not interested in buying cryptocurrency and for bitcoin going to zero, right? They’re saying it’s likely that the twenty twenty inflows will exceed the year before. I mean they only need a hundred million more and they already did it right. They also reported that inflows surpassed one billion over a 12 month period. The company’s first billion dollar a year. This takes the total value of assets under management to 2.2 billion. That’s a lot of money, guys. Also, not to mention, if you just want to talk from a fundamental perspective, look at how this bitcoin hash rate is already recovering. After we had this crazy scare, people were panicking, worried about a minor death spiral, everything else. Bitcoin is already back to essentially what it was in the beginning of March and it doesn’t look like it wants to stop. So bitcoin is relentless. It is unstoppable. And you could see how we’re already having a massive recovery, proving once again that Bitcoin is the most secure network on planet Earth. Now, super quick, let’s talk about this stimulus deal. Right now. You’re having Representatives Ro Karna and Tim Ryan introducing what is known as the Emergency Money for People Act to provide additional cash payments to Americans that have been infected by the pandemic. So this would include a $2000 monthly payment to every qualifying American over the age of 16 until basically until employment returns to pre pandemic levels. Basically, they say this one time. Twelve hundred dollar check just isn’t gonna cut it. I kind of agree with that. Americans need sustained cash infusions for the duration of this crisis in order to come out on the other side alive, healthy and ready to get back to work. Now, not everybody thinks. What is going on right now with this recovery is a good thing. For example, oh, by the way, before we get into that, John McAfee, you may remember him as the $1 million or I’m going to eat my manhood guy. He says that don’t worry about it. It’s virtually a non-event. And by mid-May, he thinks that this whole situation is going to be over with. He says even in countries like Sweden, which are not on lockdown. He thinks that this is all going to go away. He says he’ll bet $1000 to anyone who thinks he is wrong. Well, $1000 is a very not as incredible of a bet as cutting off your manhood on live TV. But some people, for example, we do have Josh Brown. He doesn’t necessarily think that this is going to end well for everyone, in fact. He thinks that people that are buying into the stocks right now that are trying to front run all of these things, they are going to get massively burned. In fact, I want to play a clip from this super quick about his opinion about actually when the economy reopens, it could potentially be worse and we could see even more major sell offs in major asset classes, potentially stocks. And, you know, it could even affect Bitcoin. So I would play this clip super quick and then we’re going to wrap this up. A lot of things don’t make sense to me, Judge. I’m definitely struggling. And I would tell you that anyone who says they have more answers than they do questions is either lying or is so stupid that they don’t even know what they don’t know. So now you just had the best 15 day period for for the stock. The U.S. stock market going back to 1933. Twenty seven percent gain in 15 days. The last time that happened, FDR was in the White House. And Babe Ruth was on the Yankees. We have not seen a period like this. And there really is no playbook. And I have to tell you something that I think a lot of people are potentially getting wrong that could have huge consequences for how you invest in right now, which is we’re all talking about the reopening of the economy as though it’s a positive catalyst. Judge. What if it’s a negative catalyst? Hear me out on this. Try to imagine a scenario where people are faced with the choice of staying home or going to a restaurant and having to lift the mask up to put a forkful of food in their mouth. How many people are going imagine the airlines that you wouldn’t feel we’re just talking about. What if they have to fly half the amount of people in each flight? They’re going to have to charge twice the amount. How many people are flying? Unless they absolutely have to? Very few. So what if the governors begin to slowly? We’ll quote, we open the economy and they announce that state by state, people can start to kind of go back to their activities. And it’s a negative catalyst because people realize, oh, my God, so much has changed. I don’t know when we’re going to get the economy of twenty 19 back. So I do think a vaccine, whatever it happens, will be positive. But listen to what Scott Gottlieb just told you. The worst thing that can happen is we start to roll back some of these stay at home orders and all of a sudden people get a little too comfortable and we have a resurgence. What would that do to the stock market? Forget about the public health situation. What would that do to investor sentiment? I think would quash investor sentiment. So I’m as worried about everything else as I am about the idea of reopening the economy. And people are disappointed at how slowly things start to go back to normal, if at all. So let me know if you agree with Josh, if you think that maybe investors are sort of frontrunning this right now, you know, things are not going to be able to go back to normal. I would assume that it would take some time to get things back to the way they were. And let’s be honest, after something like this, you’re still going to always have that uncomfortability in public. You are going to still have people, like he said, that are afraid to go out and eat. You know, they’re going to have their masks on. Maybe they’re not going to want to fly. So even if these businesses open. Are they going to get the type or the amount of customers that they were getting before? It is something to consider. But considering that this is a bitcoin and cryptocurrency mostly channel, I do want to end on one sort of analysis of what’s been going on. And this is from Matthew Dib. He’s got over 12 years of experience in investment, equities, derivatives trading, et cetera. He’s the CEO of Stack Funds and he recently came out and had some opinions. So I just want to list off these four specifics about the situation. Number one, he says that Bitcoin really is still an uncorrelated asset, despite the fact that, you know, a lot of people are saying, well, it’s still correlated with stocks and stuff like that, although we kind of went over that in a video a few days ago where it sort of correlated, but it’s not 100 percent correlated. But anyway, he says, I think too many people are probably getting a bit too caught up in what’s happening day to day within the moves of Bitcoin. He says demand for bitcoin is definitely there. I just showed you that, by the way, with Greyscale. But he says, is it a green light for some of these investment companies that have been sitting on the sidelines? He says We think time is certainly approaching. He says if you’re a longer term investor, then we believe that around these levels. Is certainly a great place to get set in. And that that sort of ideology is quite consistent with investors that we’re dealing with at the moment. In fact, you know, just going back to this chart, it’s definitely the right time to be buying if you’re looking to, you know, essentially buy at some of these fire sale levels. Right. He then goes on to say, from our perspective, we still see the having as of the next six to 12 months as a really bullish catalyst for basically a pop of bitcoin. He says definitely over 10000 dollars again. Now, keep in mind, obviously, it’s not like, OK, Bitcoin is going to have and it’s just going to go to the moon. But you cannot deny the fact that we now have less Bitcoin flooding the market. We saw Bitcoin getting moved off exchanges. We saw Hollars moving it into their own wallets. Right. He warns, though, that it may take some time for Bitcoin to be stabilized. He says Bitcoin being the cheapest that we’ve seen in quite some time. However, it’s great. Take some exposure. Now, I can’t give you financial advice. He can give you financial advice and he says take some exposure now. So do what you want with that news. Also, we do have one little thing that’s just sort of mentioned. We have China’s two tier central bank digital currency. The digital currency slash electronic payment will be issued to workers in the city of Suzu. This May the employees will receive part of their upcoming transportation subsidiaries in the digital currency. So it is happening. Here you go. We have China coming out with our national blockchain. Now we have them coming out with their central bank, digital currency. And on that note, guys, I do want to remind you to definitely keep your crypto currency safe. I also want to remind you that Ledger is having their 27 percent sale for a family pack, which is either three hardware wallets. You can get a ledger, nano s or ledger, nano access. Pretty good deal, 27 percent off if you guys haven’t checked out my ledger. Nano S X, I’m sorry, tutorial. I will drop that above. And I do have links for this promotion below. And also thank you for everybody that supported me yesterday. I have been nominated for the crypto influencer. I know of the year award for twenty nineteen now. I actually did win the year before. Thank you so much. I you know, I’m not saying I have to win two years in a row. There’s amazing nominations on here, but I am on the list again. If you guys want to support the crypto zombie al-jarba link below, you can vote for me or vote for somebody else. Doesn’t matter. Just show some support for the community. Also, they do have something going on where they have. It’s a free event. It’s a digital event. But they have a VIP thing where it does help support Cauvin. If you’re interested, you can check that out. But that being said, that is it for me today. Thank you so much again for supporting the channel. You guys rock. Rocky. The reason that I do this every single day. Hope you’re having a OK time in quarantine. I know I’m going kind of bananas over here, trying to go outside, trying to breathe some fresh air. I went for a few hikes, but now they’re like closing down trails and stuff. I mean, it’s getting crazy out here. You know, New York. But that’s enough. I’m rambling. Love you guys. You’re awesome. Thanks for coming back. Do consider getting subscribed. My name’s K-Dub. This is Crypto Zombie. Until next time, stay crypto. And, of course, peace out.