Oh I will say to you though we will reach a point. Where the U.S. dollar will become digital and other global currencies will be digital. How then could Bitcoin be a store value? Yeah. Look if the United States government sitting it from a rational seat. I think that they should token us the dollar immediately. Right. If you look at China they’re taking us in their currency on this. Other countries that will follow what’s going to happen is there’s not going to be a competition between digital and non-digital currencies. Every currency will be digital. What we’re going to have is a competition of monetary policy. And if all of a sudden let’s say China has a digital one and we don’t have a digital currency it’ll be much more accessible for people to buy the Chinese one. In other parts of the world than the U.S. dollar and so you might see higher levels of adoption of the Chinese want than the U.S. dollar. So we can tokenize or digitize the dollar fast and drive that adoption globally. We’ve got a chance to keep that as the global reserve currency. But now just why would you own bitcoin if you could own the U.S. dollar. I ultimately believe that people are going to opt for something that is not manipulated bowl is not seasonal is not sensible. It’s never going to go to baseball, not the baseball, etc.. And so I think people are going to continue slowly at first but over time more and more people will choose a currency that a government does not. What’s going on guys it’s Kate of here with another episode of crypto zombie. Welcome back to the channel. Hope you’re having a great day today it is another beautiful green day in Bitcoin and cryptocurrency land. We do have bitcoin actually in the deep green a lot of the top coins as well. Having a look right here we did have that sort of low at around five thousand six hundred dollars and since then we’ve been putting in a nice steady uptrend. Now in yesterday’s video, some people were speculating that maybe this is just a sort of bull trap. It’s a total fake-out. Others are saying hey that’s it. The bottom is in Well interestingly enough if we have a look at the way gold has sort of responded to the news about the Fed printing all of this money. Gold is almost back at its recent local highs. So I want to talk about what is going on why we’re seeing this crazy pump in gold. Will Bitcoin also experienced the same pump. That is something we’re definitely going to go into today. I also want to talk about the U.S. digital dollar and what that means for bitcoin. Some people say it actually could be very good for bitcoin. I want to get into that and of course, we do have to talk about the short term price movement because we’re actually at a very interesting level on the bitcoin charts we’re gonna get into all that today super quick news if that sounds good to you. Well, you know what to do if you’re not subscribed definitely consider it. We attempt to get videos out every single day. And without further ado let’s dive in giving it a quick refresh live. Bitcoin is, in fact, leading most of the pack today if you do switch it to the bitcoin comp. You will notice a lot more red in the old coins which do mean today Bitcoin is kind of the place to be. Few exceptions we have Jack chain up 50 percent nano quant network run engine energy nervous crypto icon and Monaro. However, the thing that is getting most investors excited is the fact that we are still above the 200 weekly, in fact, we closed a nice solid weekly candle last week above the 200 weekly so that is sitting around the five thousand five hundred dollar level staying above this level. Right now is actually pretty bullish for bitcoin right now over here credible crypto and I do want to ask you guys before we get into this. He put out this tweet right. And basically, the bitcoin bottom is and the choices are already in below three point seven K but above three-point one K or we’re going to New Lows below 3 K and actually the majority think that we have not put in the low yet it is still somewhere between three points one and three-point seven K. I do want to know what you think about that I will drop the same poll above. Just click it and let me know what you guys think or if you don’t want to just drop your comment below. Do you think we’ve bottomed? Are we ready to basically go back to the moon? Let me know what you think. However, if we actually look at the historical market crashes in order 1929 saw an 86 percent loss the 2008 financial crisis saw 50 percent 56 percent loss and actually having a look at 2020 we’re only at about a 35 percent loss. So it’s not even really as bad as it could be some are saying it’s going to get a lot worth worse with the virus which shall not be named possibly. We’ll have to see about that but super quick diving into the charts. Guys, we are headed back towards the 200 daily moving average which of course would signal whether or not an asset is a sort of in a bullish or bearish trend. Interestingly enough we did finally break back out of this descending trend that we were stuck back in and we did use it as support. So I’m very interested to see if this resistance will flip support. We do also have a CMC futures gap at around nine thousand sixty and not to mention the gap. Way way way up there at around eleven thousand eight hundred dollars so will we actually close that gap. Well, short term let’s just beat this resistance that we have. OK so basically we had this support in the downward trend which is now currently acting as our resistance so I would like to get above this. It’s actually held us during this sort of downtrend before we had the plummet. And currently, right now it is actually acting as our resistance. Now if we were to break above the short term resistance the next level I’m looking at is around seven thousand one hundred and sixty. And the reason for this being this was the major V.P. VR accumulation level right here when we had that sort of low when we hit the six-point four K level originally you know back in November December now. Also if we were to let’s say break above that we still have to get above this sort of short term support that we had in the beginning of March and that is around seven thousand eight hundred and sixty dollars so that is sort of on the short term upside. Okay. So you could look at a target of around seven thousand eight hundred if we do however get rejected short term then we might revisit this level right here at around six points one okay. And then the V.P. VR once again which had a lot of accumulation in this area down here which was around the five-point four okay. So those are sort of the levels that I’m looking at you know in the bearish or the bullish side. Let me know what you guys think though are you short term bearish or are you short term bullish. What are you doing right now in the crypto space now have a look at gold right here you can see that gold from bottom to top. Basically, if we go to the bottom of this Wick all the way up to actually where it had weak this morning gold had an impressive 17 percent pump basically putting it right back to where it was now if we have a look right here at this article on zero hedges you can see that it says it’s selling like toilet paper if you haven’t bought physical gold yet it’s probably too late. So you are hearing physical gold basically being sold out everywhere no one can get their hands on it and a lot of what we’re seeing right now you know this is just paper gold right currently but the question is if this is happening to gold will Bitcoin follow. Well, have a look at what Ari Paul said he said until today I was convinced we’d have to wait until at least a few months after equities bottom for the Fiat hedges gold bitcoin to catch a strong bid in a sustained way. There is still risk assets. But Wall Street is focused on inflation and depreciation 10 times as much as 20 19 excuse me 2009. Actually having a look right here. If you look at what Eric Wall said he says Bitcoin is basically about to outperform the S&P 500 on the one month chart right here. So actually for those that said Bitcoin isn’t a good store of value or bitcoin isn’t a good hedge well time will tell but it looks like bitcoin is actually looking to outperform it relatively soon. Right. We will have to discuss that situation. You have actually two Deutsche Bank strategists are warning over hyperinflation generated by the helicopter money we do know what the Fed is looking to do. Four trillion basically endless amounts of printing write the Fed said. Right. Now scrolling down here they said if the government tries to keep spending at these levels before lockdowns begin while at the same time keeping lockdowns in place there will be simply more money chasing after significantly fewer goods and services. The result of this will clearly be in inflation. Now a lot of people are asking the question Well why pay taxes when they can just print endless money. I don’t know. That’s a good question. That is a very good question and I wish I had the answer to that. However, what we do have currently is the newest offer by House Democrats which includes a very forward-looking kind of stimulus the creation of a digital dollar. Now there was some conspiracy theorists saying like oh well the fact that we have the virus which shall not be named you know and people are saying oh don’t take cash don’t deal with cash is dirty. And that was all just a way to you know to get the digital dollar out there well I want to talk about what exactly they’re looking to do and why this actually could be bullish for bitcoin. We’re going to get into that in just a second. But essentially you had these two different acts that were going to be passed by Nancy Pelosi and also chairman Maxine Waters. So basically the bill establishes a digital dollar and this is their definition as a balance expressed as a dollar value consisting of digital ledger entries that are recorded as liabilities in the accounts of any Federal Reserve Bank or an electronic unit of value redeemable by an eligible financial institution as determined by the Board of Governors of the Federal Reserve System. Additionally, a digital dollar wallet is identified as a digital wallet or account maintained by Federal Reserve Bank on behalf of any person that represents holding an electronic device or service that is used to store digital dollars that may be tied to digital or physical identity. Now the question is are these digital dollars actually going to be a cryptocurrency or are they just simply going to be another form of you know just sort of a number on a screen. And we just transfer it back whatever in a centralized database. Now the interesting thing is if they do choose to go the cryptocurrency route I do wonder what are going to be the limitations. This was the big problem that we were worried about with Facebook right. We were worried about oh what if you spend something and they disagree. Does your wallet get turned off do you lose all your funds can you get your entire account frozen. I mean technically you can have that done now with your money in the bank but you can’t have your dollars cash frozen right. And that’s also one of the beauties about bitcoin. Now you can see right here additionally they’d be looking for postal service to help them the U.S. Postal Service to help the unbanked individuals or those without paper I.D. to establish their identity to provide a digital dollar account and would set up ATMs for customers to access their funds. So let me know what you guys think about this. They’d obviously be able to see everything you’re spending your money on everything you’re doing. They would easily be able to freeze your accounts. So is this a little bit too much Orwellian surveillance 1984 happening right now before our eyes? Let me know what you guys think about this. Now according to Nathaniel Whitmore cryptocurrency analysts, this move could actually help bitcoin. He explained this theory by pointing towards a theoretical four-step process that could take place if this becomes a reality. So number one you have introduced the digital dollar to ship stimulus payments. Number two we have hundreds of millions of Americans getting their first digital wallet. Now, of course, we’re assuming that this is cryptocurrency number three trillions of dollars of a stimulus. Assuming the crisis goes longer than expected and has more of an economic impact than expected will lead to the debasement of the dollar which is going to happen anyway. The dollar is going to get debased regardless. We already know we’re having a two to three percent annual inflation if we just start flooding the markets with more money I’m sure it’s going to get a lot worse a lot faster. But this does lead us to number four which he says Do you really need me to say it. Bitcoin rises as many try to find a hedge against their devaluing dollar. In fact, Luke Martin came out and gave his opinion on it recently if you haven’t followed him at Venture coyness. I do recommend it. He says business is shutting down during a pandemic means lower earnings short term and lower chances of success risk assets selling off during pandemic mean lower bitcoin prices short term. And if anything the current fiat experiment has increased Bitcoin’s chance of long term success. PR says yes. I also agree. And let’s not forget we do have the having come up in about 50 days and once everybody realizes how much difficult it’s going to be to get bitcoin you know just like we were seeing over in this article for gold. Well, I think it’s only a matter of time until we see bitcoin not only returning to at least some of its previous highs maybe even breaking a new all-time high. Could it have this year its possible guys it’s possible is a pretty crazy and pretty crazy market out there pretty crazy world? That being said yes it is still difficult times, unfortunately, there still are a lot of people that are currently facing potential unemployment. Obviously the virus has still not been stopped the cases are increasing especially here in New York. I’m pretty much just staying in my house to fully loaded Lochte with food everything I’m I’m just going to be in here making crypto videos but that being said let me know what you guys think about the situation. Do you think that bitcoin this is just a fake-out? We’re going to see some lower lows. Or do you think that this is finally good and we are headed to some higher levels? Let me know what you guys think. Thank you so much for stopping by. Do consider getting subscribed if you haven’t yet. I also do have a free telegram group. I’ll drop that in the links below. Totally free. Hang out with a bunch of people talk about cryptocurrencies and that is it for me today. Thank you so much once again for coming back to the channel. You guys rock I love you. You’re the reason that I do this, for the most part, every single day until next time. My name is Kay dub this is a crypto zombie state crypto. And of course.