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BITCOIN: THIS WILL HAPPEN NEXT…!!!

VIDEO TRANSCRIPT

The world is in turmoil not just bitcoin crashed but also the S&P 500. The Dow Jones and also gold. Today we’re going to have a close look at bitcoin. We’re going to have a look at the hash rate or miners still mining profitable. Could it be that there is going to be a death spiral. Is it game over for Bitcoin. And what exactly has to happen that bitcoin can thrive once again. All that and more in this episode. And now let’s jump right into it. So it is no secret by now anymore that people are scared not just bitcoin plunge but also auto markets and commodities as just mentioned. If you have a look at the Fear and Greed Index in here we are currently sitting at 12 which is very low and reformed low in here yesterday with a crypto Fear and Greed Index of eight to find a similar number we have to go back in August 2019 there we had a group of Fear and Greed Index all five although not all too much was happening back then as you guys know I’m very critical of such indicators in here. But the situation is actually quite clear. People are panicking right now and not just in Bitcoin. Cash is king. That is what we learned at the start of a recession and that is exactly where we are right now in my personal opinion. Cash is king. People are liquidating their assets because they’re getting scared that they can’t buy food anymore. And what is the most liquid asset right now. Well it is still cash. It is still feared. We have to be honest with ourselves. I’m personally paying my bills in fiat. OK. There is no bill I can currently pay in BTC and I live in Switzerland where we have souk which is the crypto Ali. OK. I even have issues with my bank. I have to get money off my bank because there is money which was sent from Coinbase because I sold some bitcoin right there. But don’t get me wrong in here guys. I did not sell anything from my Hoddle position. I want to make that very clear OK. My huddled position is just going up since early 2017 and nothing ever changed right there. OK. The Bitcoin I’m selling artists from incomes from a feel it incomes and stuff like that. No I’ve not sold anything from my huddled position just to make that very very clear in here. But anyway people are selling off bitcoin and commodities and stocks to get in cash. Even people in here in Switzerland and the supermarkets there are hoarding food OK. They’re buying a lot of food. And then the shelves they’re empty. So that is the situation right now. The virus the pandemic definitely put fear uncertainty and doubt in the markets and in the United States Mr. Donald Trump called out an emergency and well that is definitely not making the situation better. By the way just in case you heard about the whole bit mix fiasco and Big Macs being down for 15 minutes exactly during the dip. Well what I can recommend is lower trading platforms that are not as big as Big Macs yet were not as many uses are trading yet. I’m personally still trading on by bit but also obviously my favorite exchange currently is Phenix. Make sure to check it out if you’re interested. A bit of tutorials popping up on top of the screen right now. You can get up to a one hundred and twelve dollars bonus with my sign up blink down below though we’re also getting mentioned in the block in here for raising more money from N G C Ventas. There are Morgan Stanley employees actually working on this exchange currently approximately one hundred and five thousand registered users and they’re fully transparent with their team and so on. So definitely make sure to check it out. And now let’s continue with the video. You guys know I don’t want to get political. I’m not saying I like Donald Trump or I don’t like Donald Trump. I personally don’t care. But what I don’t like is when people are calling the crook the Bitcoin space manipulated just think about the stock market the stock market is getting halted for 50 minutes. When it falls for seven percent or more. Also in the stock market what we can see is not just that kind of manipulation but also some kind of a pump and dump here we can see some tweets on timeline from Mr. Donald Trump the president of the United States of America himself here on the 19th of February highest stock market in history by far then the 24th. The coronavirus is very much under control in the USA. We are in contact with everyone and all relevant countries CDC and World Health have been working hard and very smart stock markets starting to look very good to me. And then here this was yesterday on Saturday regarding Friday. Biggest stock market rise in history yesterday after this whole plunge. So you can see not just the Bitcoin and crypto space is manipulated and the pump and dump scheme. Also the regular market. OK we have to be very careful out there. And guys this is something I personally have seen for the first time in my life. I mean I’m not that old I’m getting thirty one this year but nevertheless I personally have never seen anything else compared to this. We’re living in weird times and I hope we can all manage the situation and get the best out of it all right now before we’re going to get into the most interesting part of the video where I’m going to tell you what is going to happen to bitcoin or what has to happen to bitcoin for a recovery for bitcoin to thrive again we have to talk about hash rate. So what we have in here is a list of different miners different mining hardware and we can check in here if they’re still profitable or not. And here you can see the bit Main and minor is 19 pro with one hundred and ten Terra hashes is still net positive. Mining every single day with the current prices right now. But that does not mean that miners in Europe or in America or anywhere else except out of China are still profitable right now because most of the cheapest electricity comes out of China. OK. And they are approximately responsible for 65 percent of the current cash power. Also Bittman is out of China so that kind of doesn’t make sense right. So what we’re looking at in here is a potential death spiral. Some people are calling for now. What does that exactly mean. Well that would mean that if the price of bitcoin falls too low minus or not profitable anymore. So miners are getting out of the system. That means that until the next difficulty adjustment which is approximately every two weeks or 2016 blocks that means it takes longer to reach the next difficulty adjustment if the hash rate is getting lower. OK. Because it takes longer to find bucks that could mean that transactions are not going to get processed. People are getting you know like or people would start to freak out and so on. And then the price would fall and then even less miners are profitable so it takes even longer for the next difficulty adjustment. OK. But that is just a theory that is the death spiral theory. We will talk about that theory maybe pre huffing again. And also obviously the Hoff and cuts to profitability in half. OK. So far this never happened. I mean this thread was already on the table multiple times. Bitcoin Cash people is calling for this Bitcoin as people have been calling for this. I mean we even had this on the channel I think a year ago or maybe even two years ago I can’t remember. I remember talking about it. I don’t know exactly when but this never happened so far. So no I personally do not see this as a threat but it’s definitely something to keep in mind. OK. Especially after the huffing because once again off to the huffing the mining profitability is getting cut in half. But we’re going to have a close look on this. We’re going to have this on the radar but so far the threat already existed but never anything bad happened in this regard. All right now probably the most interesting question off today how can Bitcoin thrive again. What has to happen. I’m going to make it actually quite simple in the first attempt right now and by the way this is the first start of a crisis where bitcoin does already exist because bitcoin was a reaction to the last financial crisis but it got invented afterwards or it got coded afterwards. But right now Bitcoin is fully established. I mean not everywhere but Bitcoin lives. And we are heading into the next recession and deflationary face and then hyperinflation. That is what’s about to happen. I mean that is pretty much inevitable except for someone is coming out with a weird solution. But anyway what’s happening right now is that gold is falling stocks are falling and also Bitcoin is falling. Now what I personally predict is this if stocks are falling further starting on Monday over the next week two weeks maybe or next month what we’re going to see is if either Bitcoin can bounce back before stocks if there is going to be a natural bottom for bitcoin before stocks. And that would be extremely bullish if Bitcoin can start to decouple from equities. That would be the most bullish sign and I’m pretty sure that everyone who was in bitcoin already or who isn’t Bitcoin is getting even more bullish. What we need is a decoupling from the stock market as long as bitcoin is so highly correlated to the stock market and everything keeps falling people still think cash is king and that is true if everyone is just selling well cash is king. But here once again be greedy when others are fearful. If you have a cash position already make sure you’re not spending it all right now make sure that during the deflationary phase whenever one is selling everything that you can be the one who is buying cheap stuff. That is my personal plan. OK. That is also the reason why I’m not going all in with all my cash in bitcoin right now. What if Bitcoin falls further. Are you going to be ready to buy more than I am. If bitcoin goes to three thousand dollars I’m going to buy bitcoin if it’s going to 1000 dollars or even sub 1000 dollars which is something I personally do not believe at all. Because that will mess up the whole ecosystem kind of I mean the best mining profitability is still profitably mining at approximately three thousand five hundred U.S. dollars. So if we fall below that well I don’t know exactly what’s going to happen but I’m going to be ready to buy up some bitcoin same with gold. OK. I have a little bit of cash if gold is star plunging further. Well I will definitely pick up a little bit of gold but slowly. OK. Because we do not know exactly when the markets will bottom. But tomorrow Monday I’m going to have a close look at all the markets and I definitely keep you guys up to date but that is it already for today’s episode once again if you are interested in a good working exchange make sure you check out my famous tutorial popping up by my side right now. Once again a sign of bling dumb blue for a 112 dollar bonus. Thank you guys all very much. Good luck out there and hopefully see all of you in the next one bye.

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  1. due to the recent major bitcoin and cryptocurrency market breakdown which was mostly referred to as a short term correction and buy zone has turned out to be a terrible nightmare, but the truth is that only holders are more in panic and fear each and every minutes, hours and day. However you have to understand that the market has two parts as some investors/traders would want to see bitcoin trading below $3k while others would want to see it skyrock above $10k, all the same i see this worthless because we all want to make profit and we all can make profit in the Bear market and Bull market. But i will tell you that Bitcoin is more than this because after some research, i came to realize that you can make profit even in the bear market, all you simple need to do is to follow a good strategy/signals that is accurate. I would say it's still a very good time to buy and trade so as to accumulate and grow a very strong portfolio. With Mr. Steven Curtis's strategy/daily signals, last month i was able to achieve and grow up to 6.2 BTC with just my initial 0.9 BTC, Its only fair i also encourage others to find a competent trader like Steven and copy trades for maximum profitability. Steven could be reach on Telegram @ steve_signals247 , Gmail: steven.curtis10111@gmail.com and whatspp: +13617177129 for inquiries about crypto trading.

  2. The CIA created Bitcoin. Bitcoin will go to zero. The CIA can crack and trace all cryptocurrencies and transactions. For 50 years the CIA and Germany ran a fake Crypto currency company selling cryptography hardware and software to countries to ease drop and spy on countries. What was it called? Crypto AG

  3. Gold last week had the worst sell off since 1983, that is nearly 40 years. No the sell off was about 10% but for gold, this one week movement was historical. Bitcoin last week had a devastating week as well, but compared to it's history, it was not nearly as historical of a sell-off for the same week. So in terms of historical charts, which one behaved worse, gold or BTC? Gold behaved worse!

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