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Bitcoin’s Wild 18% SURGE! Trump Gives 2 Trillion More Reasons to Buy Crypto in 2020

VIDEO TRANSCRIPT

Today in crypto, bitcoin has had a wild day surging by 18 percent. Almost touch seventy-three hundred dollars. But will the failure to close above seven thousand dollars bring out the bears? Or are we setting up for a bullish breakout? Another two trillion dollars in spending has been proposed in the United States. Exchanges are seeing a massive influx of new buyers. Capital controls have an inflated. This week in some of the world’s most vulnerable countries, which just serves as a strong reminder of why we need bitcoin so desperately. The latest news from crypto dot com with 2.0 gets a little bit closer. The crypto laugh. This is where the use of a scrap of the hottest and all of the latest happening out there in the wild, wild west of crypto land. By the way, if you are new to crypto, then check out my course. Cryptocurrency explained. It is specifically designed for beginners to allow you to confidently start investing in crypto. It will walk you through all of the basics with practical tutorials and the resources that you need to succeed in crypto investing. There is a link down below where you can learn more. Now let’s go ahead and take a quick look at the charts here to get started off with today. Bitcoin oh, it’s had such an interesting day, it just reminds you of the craziness that Bitcoin is capable of in both directions. Obviously raging from a low of around 60 $100 dollars all the way up to seventy-three hundred dollars before cooling off for a wild 18 percent move on the day. Now, over on the daily charts, we can see that Bitcoin is in an ascending channel right now. Now, today’s big price move actually tested and rejected at the centre line of that channel. Now, we could see a pullback as far as 60, $100 test. The bottom end of that channel, especially if the current price does not hold that the time recorded this video anyway. We’re kind of sitting right around some key support levels. However, the daily is currently forming into an ascending triangle as well, which is likely to break soon. The failure of yesterday’s price, though, to break out and hold above the top line of that triangle at the seven thousand dollar mark. That’s a little bit disappointing. But in the next 48 to 72 hours, we should get the answer about whether or not we’re going to have a definitive breakout above or below this key line. Ascending triangles, of course, are more bullish patterns and tend to break up. But will we suffer from that weekend trading malaise, which will draw us back down and invalidate that triangle? Time will tell. Now a solid candle closes while the seven thousand dollar mark that would definitely bullish in the short term for bitcoin. That’s why I’m hoping we’re going to be seeing playing out here. But let’s just keep an eye on this as the weekend moves forward. Remember, though, we are still six weeks out from the bitcoin, having even though not like who is talking about it is still coming. We could indeed see the speculators come out in force to play both sides of this event, bumping it up and then potentially shorting it back down afterwards. So keep an eye out for that to happen, too. And while the price action the last 24 hours, that’s been a bit of fun. Yeah, absolutely. But fear is still the leading force in the crypto markets. The Bitcoin Fear and greed index is still way down at fourteen mean that we are far from being in the clear when it comes to price safety. So keep that in mind. Next, up, some quick data to share with you. There has been a big surge in new buyers coming into the markets of last week. Not no assured, a few different data points supporting this. We’ve new data points to share with you as well. Crack and release the report. And they said that they saw an 83 percent increase in users over the last couple of weeks. Packs full doubled its signup rate and almost all the exchanges are seeing a heavy bias towards people buying, not selling. The decentralized exchange is also doing well with volumes hitting an all-time high of six hundred and sixty-eight million dollars in the month of March, with volume up a whopping 53 percent since the all-time high in February. Yes, that volume is still less than buying does in just one day, but it is definitely showing that there is really an increasing amount of people who are choosing to do their asset swaps on-chain and without using centralized exchanges. We still have a long way to go. There’s no doubt about that. But this is definitely a good trend and I’m excited to see where it is going now. A big thank you to crypto dot com for sponsoring today’s episode. So here is the latest news from crypto dot com that you need to know for the next three months. That hemo crypto dot com is doing their bit to help with the crisis by offering free credit card purchases of crypto on their app. So they’re going to be waiving their usual 3.5 percent fee and replacing with a zero percent fee. So a great opportunity to get zero percent fee buys. Also, as part of this overall offering, they’re gonna be doing 10 percent crypto back on all grocery purchases and a whopping 20 percent back on food delivery. Now you need to go over and check out the crypto dot com Twitter to see which brands specifically are being supported and what the exact terms are going to be. But this is a very cool move to see from the guys where crypto dot com and by the way, they’re also giving away a hundred thousand dollars worth of bitcoin this month. That is crazy. Got to go over and subscribe to crypto dot com on Twitter. They’re always doing amazing giveaways over there. So you have to follow them, of course, to be in to win. And the next bit of crypto dot com news is that their next syndicate event has been announced. So on April 14th, you will have the chance to be able to buy a theorem at a 25 percent discount. Awesome. By the way, if you don’t have crypto. Debit card, yet then it is time to get on board. You can get up to 5 percent crypto back rewards for every swipe of the card as well as getting free Netflix, free Spotify. Other cool perks like airport lounge access. Plus, if you use the link down below and reserve a ruby red Teir card or higher than you can get a bonus 50 dollars in crypto cards now shipping to the UK, USA, New Zealand, Australia and soon all across the E! You OK? Now onto the first big stories of the day. Another country has just joined the capital control team. Yeah. Capital controls. The best. The best capital controls, man. So this story is about Egypt. So the Central Bank of Egypt just put the daily limit for individual withdrawals at 10000 Egyptian pounds or around six hundred thirty-five dollars from your local bank. And you’re only allowed to take five thousand pounds or a little more than three hundred dollars out of an A.T.M. Well, these are definitely not the strictest capital controls that I’ve seen over the last couple of years. They are still pretty tight. Capital controls, just another day of banks telling you when and where you are allowed to access your money. But it’s the bank’s money now, and they’ll tell you when you have a little sliver of it. And another story about capital controls. This is also out of the Middle East from Lebanon, where banks have now halted all dollar withdrawals. So the previous $100 U.S. limit has been reduced to zero. So the Lebanese are now trapped in their failing fiat. It is their only option. Bitcoin, Bitcoin, Bitcoin. Look, Bitcoin may not fix everything, but bitcoin definitely fixes these issues. But you must be prepared. Don’t wait until you’re standing in line at a bank waiting for six hours for them to give you a scrap of bread from the fat cat bankers table. You have to be ready for this to happen. Capital controls. They are not some faraway thing that only happens to other people. They can happen to anyone, anywhere, at any time. And those with bitcoin, when that happens, will be in a league of their own. And as this crisis continues to unfold, people living in the West, they may be in for a rude awakening one of these days. I hope not. But very, very possible. And in other Bitcoin news, GitHub has announced that they will be burying bitcoin code inside an Arctic mountain to ride out the next 1000 years. That’s pretty cool. I like that. That’s a cool story. It’s not just Bitcoin either, but it includes Bitcoin among a lot of other really important open-source code. We also have other cryptocurrencies in there amongst a lot of other stuff like the area and even Dogecoin made the cuts less kind of cool. Maybe if our society collapses and we enter, you know, a total apocalypse kind of event, then archaeologists, they’ll find out about bitcoin in a few thousand years. Bitcoin will live on bitcoin to the moon in the year 3000 after the apocalypse and DOJ going Oh dogecoin is only worshipped like a god. One Doge equals one doge. One Doge equals one doge. Okay, now let’s move on to some theory news. If 2.0’s phase zero multi-client tests net will likely go live in April, at least according to Retallack, the eith 2.0 specifications they have just undergone a major audit by technology security firm Liste Authority. Now the firm did highlight the protocols peer to peer messaging system and the block proposers system as two areas that do have potential security vulnerabilities. Obviously, this is why test nets are so important. So you can get these things ordered. You can run these things in the wild without risking billions of dollars with the value. The test nets are going to be an incredibly important step in moving us towards the future of a theorem in an ETHE 2.0. It’s coming. It’s coming. It’s gonna be massive when it hits, but good things do take time. And finally, the big news of the day. Are two trillion dollars in spending. I can’t even keep track of it at this point. So crazy. 6.2 trillion over there for the stimulus package, 2.5 trillion over there for the IMF, a couple hundred billion over there. Who is keeping track anyway? Probably going to be a lot, lot more. And know these figures, they’re not going to be the end of this. We’re gonna see trillions more before this crisis over because this crisis is really just starting to get big. I hope it doesn’t go that way, but it’s looking like it’s only a Trump proposes a huge new spend of two trillion dollars that will be in the form of an infrastructure bill to rebuild the overly aged American infrastructure, of course, to create a load of jobs along with that. Now, got two things to say about this. One is, yes, thumbs up. The U.S. definitely needs to upgrade the roads, bridges, airports, all of that stuff. So this is actually a good thing to see the government spending money on this important infrastructure. This definitely needs to be done. But on the flip side, how does this actually get funded? Well, one of two ways. That’s could be another two trillion dollars in debt on top of nearly 24 trillion dollars in existing debt. There already is. I mean, hey, why not just make it twenty-six trillion? It’s all funny money anyway. This kind of debt in the service of that debt. It’s crazy. It won’t be long until we see interest payments on the debt in the United States actually exceed the revenue of the government. That’ll be a crazy situation. And the other option for funding a two trillion-dollar infrastructure bill, just print more money. Why not just printed? It is the answer to all of the problems. Just print that money, baby. Either way, this bill gets funded. It will have a negative effect on the dollar, either by inflation or by increasing debt. Remember, there is no ceiling for the price of bitcoin because there is no bottom to the burning pit of Fiat. And look, a jobs stimulus bill for infrastructure, it’s probably really, really gonna be needed, by the way, because the USA has got to do something to bail them out at this point because the unemployment numbers, they just keep rolling in. And it looks really, really bad. It’s not just the USA. Lots of places all over the world, but the US. Wow, this is crazy. In the last two weeks, nine points nine, five million people. Have filed for unemployment in the U.S. A. These are unprecedented numbers. This is a SU normy of just financial Armageddon. We’ve only had the first couple of waves come in. There are more destructive waves at the back of the tsunami still coming. And we have to keep it real here, too. There is no way that this unemployment crisis, that it will not be hammering the stock markets in the months to come. There is still a lot of room for lots and lots of pain in the markets. And as far as the crypto markets are concerned, well, what have they shown us over the last month? They have shown that when the traditional markets move, then so do the crypto markets, so even though we have had a rather good day for Bitcoin today, stay frosty out there, everyone, because we could be in for a lot more turmoil in the markets. But anyway, those are just my two. Cito, she’s your question for today. Do you think that it’s a good idea for the U.S. to spend another two trillion dollars to rebuild their infrastructure? And if so. Well, is it better to go into debt? Is it better to print new money? Is it better to raise taxes? Let me know what you think about it down below in the comments section. I hope you’re having an awesome day out there wherever you are in the world, they have some cool plans for the weekends go on a Friday here over in New Zealand. So excited for a weekend of staying at home in the house. Again. But, hey, that’s what we got going on right now, but I hope you guys stay staying safe. Stay home. Have fun. Learn stuff, all those good things. Anyway, hope you enjoyed today’s video. Hit the thumbs up button. If you did, remember to subscribe to the channel. If you are new around here, long live the blockchain. And peace out the next time.

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