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Is BITCOIN in TROUBLE?! BTC Txs JUST HIT a 16 MONTH LOW!!! [KEY Factors to Consider…]

VIDEO TRANSCRIPT

Think of any card. Did you get one? I got one. What’s the card picking up on the king of Hearts? Got the queen of spades. Hearts? The king of yes. Now, here’s your question. How many bitcoins does it take to get some goddamn respect in this town? What’s going on, friends? It’s Kevin Williams here with another episode of Millionaire Matchmaker. Welcome back to the Channel. Hope you’re having a great week so far. Having a look at this mysterious cryptocurrency known as Bitcoin, we do notice that we are sitting at around ten thousand two hundred dollars, up to fifteen percent on the day. Man, do I wish that was true. No, guys, welcome back to the Channel. It is k-dub. Today is April 1st. You know what that means. Don’t trust anything you see on the Internet. Although having a look, unfortunately, at Bitcoin, we are sitting at around the six thousand two hundred dollar level. I do wish it was a little more positive today. We are currently down around three and a half percent today. I want to talk about some very interesting topics. And no, it’s not the fact that toilet paper has currently surpassed bitcoin on coin market cap. As you can see right here, it is up over 1000 percent currently out of stock. And would you look at that graph? But seriously, guys, we do have some things to talk about today. I do want to discuss actually the sort of correlation between Bitcoin specifically and the stock market, because there are actually some very strange correlations that not a lot of people are mentioning. I do want to get into that. I want to talk about one sort of I want to say concerning statistic that we haven’t seen since December of twenty eighteen for Bitcoin. So I want to discuss whether or not we should be concerned about this or if there actually is a silver lining to this cloud. I also want to go into how bitcoin has currently been made. Nuclear proof. Yes, you heard me right. Some people are worried about what happens if the government turns off the Internet. Wouldn’t that kill Bitcoin? Well, we’re actually going to go into how that is not going to happen. And we do also have one big-name investor who has actually silently removed a theory and from his portfolio. So we’re gonna get into all that today if that sounds good to you. You know what to do if you are not subscribed, definitely consider it. And without further ado, let’s hop in. Actually, one one thing super quick, guys. Yesterday we did have the scammer over on LinkedIn. Well, today looks like the profile got removed. Thank you so much for reporting that. I do appreciate that. But I’m a little confused about this crypto dog profile over here on Twitter with the handle crypto zombie with two E’s. Not sure what that’s all about. Be safe out there, guys. Having a look right now, though, what isn’t an April Fool’s joke is we do have bitcoin actually pushing down lower on some of this key resistance now diving in right here. You will notice that we’re pretty much stuck in the same range that we put in back here sort of at the end of March. We also had that range a little bit towards the end. And currently, we are at that same level again right here. So it is a very high level of accumulation for Bitcoin in the short term. Will we have the bounce back? If we don’t, we are probably going to retest sort of around that, you know, five thousand eight hundred dollar level. The next level lower is around 5400. We do still want to get above the short term short sort of the 7.1 K level. You do notice we are sort of at the bottom of this flag. Some people are calling it a bear flag. It could end up being a bear flag. If we break down, we could end up retesting that low of around four thousand five hundred. Now, keep in mind, we also could just be setting up for a giant double bottom. We do not have enough to confirm this yet. But if we do have one right here and let’s say that, you know, bitcoin does come down again, then we may be looking for a double bottom and then retest those levels. As I said, I’ve been saying I would like to get back above, you know, this cluster right here, which is around the seven thousand eight hundred dollar level for Bitcoin. Currently, we are still sitting back above the support that we started before the decline. As I said, this is good. However, it is still a declining price. So, you know, great. We’re above the support, but we’re still going down. Not exactly that great. Right. Having a look over here, though, you will notice that we are above the channel that we started during this descent when we had the all-time high. Currently, we’re sitting barely above it. So this is showing that the bulls do have some sort of control over the market currently. And we are on our third week being above the 200 weekly moving average. So short term not looking terrible for bitcoin. However, I would like to see us have some kind of a move if we do go to the downside. I would be looking sort of like to put in that double bottom if, you know if we have a move to the upside. As I said, I still have my eyes on seven thousand eight hundred dollars for the ultimate OK. We are back in the bull. But you can see right here we do have a lot of VIP, VR, lots of accumulation around the seven thousand two hundred dollar level. So keep your eyes on those levels moving forward. But we need to talk about something. We need to talk about basically the correlation between Bitcoin and what’s been happening now. You can see right here we had the S&P, Dow Jones, Bitcoin and gold and all the. The assets are mostly correlated, but it does seem that lately Bitcoin and gold have sort of diverged slightly now. Gold has actually been outperforming Bitcoin a little bit by a little bit recently, right? Overall, Bitcoin still clearly was the place to be, especially for the last decade. But you can see over here the financial markets. Let’s be honest, they were hit with the virus pandemic that did force entire countries and industries to shut down. You could see over here most the losses did come in March, which was one of the worst months, pretty much for Bitcoin. However, year to date, interestingly enough, Bitcoin has actually declined less than the S&P and the Dow Jones in the first three months. Bitcoin fell 10 percent, starting the year off around 7200. You know, currently, we’re around the six thousand two hundred six thousand greater dollar level. However, the Dow saw the worst quarter on record, falling more than twenty-three per cent and S&P tumbled 20 percent, which is actually its biggest quarterly loss since the 2008 financial crisis. Now, I do love this tweet from Mike Novogratz simply Money Grows on Trees 20:20 by Bitcoin. I did retweet this, by the way, on my Twitter. But having a look over here, you can actually see that Bitcoin and the overall crypto markets obviously have been trending downwards along with traditional markets. So some people are saying, well, what’s going on? I thought Bitcoin was supposed to be a non-correlated asset. Has it failed as its purpose now? Definitely. Check out yesterday’s video. We go into that and a little more detail, but I want to expand on that same idea today. You see, this isn’t the first time that Bitcoin has actually behaved similarly to traditional markets. In fact, you had Sahhaf a jar, a former Wall Street analysts. He said that the lack of correlation to equities was a bit premature to announce. We had periods of high correlation, for example, in twenty eighteen when Bitcoin fell along with equities in December to that year. You also had the head of business over at Luhnow Exchange basically saying and this is what a lot of people have been saying. I do agree with this, that Bitcoin is still a relatively smaller asset class. It’s also very easy to manipulate guys. Let’s just be honest about that. And it is increasingly uncorrelated traditional assets as time increases. He says this is why he believes that the current market environment is a big test for Bitcoin. And given how young it is, he actually says that he believes it has held up quite well. Now, it’s not all sunshine and rainbows for Bitcoin, although I do want your opinion on this, particularly this is from Matty Greenspan right over at QE. If you have haven’t subscribed to the newsletter, it’s a great newsletter, totally free. But he says Bitcoin usage has dipped significantly in the last few years, only 250000 transactions per day. This is the lowest level seen since December of twenty eighteen. Now, I want your opinion on this. What do you think? Do you think that this just means that, you know, people are just sort of giving up? They’re just saying screw bitcoin, they’re not using it? Or do you think it’s simply because right now is that there’s a lot of uncertainty and we did see a lot of bitcoin get pulled off the exchanges? In fact, some of the exchanges are sitting at their lowest liquidity in a long time, I think in like six to eight months for some of these exchanges. So maybe people are just sitting in Bitcoin. They’re just Hotaling right now. They’re not really using it. They’re actually, you know, Houghtaling. That could be one that could be one thing. Right. But let me know. I mean, you could take this and say this is really bad for Bitcoin. You could say, well, given what’s going on right now, maybe a lot of people are just holding onto their bitcoin and they don’t really want to spend it right now. They don’t really want to use it right now. Right. So that is one thing I did want to mention. However, this is pretty cool news. So Bitcoin source code, which is the fundamental building block on the entire Bitcoin network, is going to be placed into a film real and stored. Two hundred and fifty meters under the Arctic permafrost in Norway. I know this sounds like an April Fool’s type of thing today. It could be. I don’t know. I’m not going to really go and do all this research obviously today. Be very careful with what you’re reading. But if this does turn out to be true, this is pretty cool. So the plan is for the code to be safely stored for 1000 years. Notably, Bitcoin’s code will be stored only a mile away from the global seed vault, which is also deep under the ice. The repository in the Arctic is the ultimate safeguard in case the earth’s surface is destroyed by a nuclear war or an asteroid impact. Now it can be truly said that bitcoin is in fact nuclear proof, even if every computer in the world that runs bitcoin is destroyed, the code can be retrieved from under the Arctic ice and the Bitcoin network can be restored. And I don’t want to give really go into too much news today because like I said, it’s April 1st. I don’t even know what you know. There’s a lot of crazy. Even the story yesterday with finance looking to buy coin market cap for 400 million. I mean, even that seems pretty crazy, but I’m sure we’ll find out sooner or later. But to end on it, some people were pointing out how Briar Capital, you can see they had their portfolio in here. Lots of things you guys probably recommend, lots of things that you guys probably recognize. For example, media marvel, legendary. But look at this right here down in the blockchain section. They’ve actually removed a theorem and now they only have circled the chain and high fidelity. So let me know what you guys think about that. Very, very interesting. And on that note, guys, I think I’m going to end the video nice and early today. It is April Fools. Be safe out there with all the things that you’re seeing on the crazy Internet today. If you haven’t got subscribe to the crypto zombie channel, I definitely would appreciate it. Drop a comment below. Let me know about the craziest. April Fool’s joke you saw. If you were browsing the Internet, you saw something crazy. Drop it in the comments below. I’d love to read it. Yeah. If you want to hang out, talk to some people that also love crypto. You can check out the Free Telegram group above. I do have links below and yeah, that’s about it for me today. So thank you so much. Be safe out there. Appreciate you. Love you guys. Definitely. You’re awesome. You’re the reason that I do this, for the most part, every single day. My name is K-Dub. This is a crypto zombie. Until next time, stay crypto. And of course, PS.

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