I know most a few guys out there like the bullish moon boy videos. Way, way better. But from time to time, we have to talk about the bad signs for Bitcoin as well. And did today’s episode, we’re going to go over three bad signs for Bitcoin right now after some short technical analysis. And now let’s jump right into it. And with that said, what is going on, everyone? Sunny decree here. And welcome back to another episode. If it goes like this kind of content, although it is burish today, please make sure you leave a like subscribe to the channel and also at the post notification bill. Very much appreciated for the technical analysis part for the Bitcoin price. Well, there is not all too much to say. Currently, we’re still trading around this downtrend land. We’ve been talking about so much already. And as long as this week cannot close above this trendline or clearly above this trendline, well, we cannot really confirm this breakout on the daily chart. We can clearly see once again the significance of this trend line. Bitcoin has recently bounced off of it. India’s daily candling here. So that is definitely a positive sign right now. We’re also trading above the 200 daily moving average, but the price looks kind of indecisive. So the next couple of days are definitely going to be very interesting. To weaken is going to be very interesting for sure. But I’m personally very excited for next Monday, Tuesday and Wednesday. All right. Now let’s talk about the first bad sign for Bitcoin. And this has something to do with Paul Tudor Jones, the billionaire that called Bitcoin great speculation. And he also said that he has almost two percent of his portfolio in Bitcoin. Absolutely amazing. Right. Well, shouldn’t the numbers of Bitcoin purchases go up? Well, kinda. Of course, Wall Street people, of course, institutional investors there are listening to other institutional investors or big investors in general like Paul Tudor Jones and of course, some of them they are following. The problem here is and this is a bad sign for Bitcoin, is that those people are not buying Bitcoin on the spot market. They’re not buying physical bitcoin if you even can call Bitcoin physical. But you know what I mean. They’re not holding their own private keys. In fact, they’re not even longing Bitcoin with Bitcoin settled derivatives, like on Big Macs, for example, or on Fenwicks or on before next. What they’re doing is they were just buying cash, settle futures, and we have a proof for that. This news headline from Paul Tudor Jones was from the 11th of May 2020. And as you can see, the Bitcoin options volume here on CMG went up exactly on the 11th of May. You can see here on a daily basis, almost 20 million and 30 million. 40 million. And somewhere in the 35 million range in here. So, yes, of course, Wall Street institutional investors, they all reacted to Paul Tudor Jones or some of them at least reacted to Paul Tudor Jones and his call and his investment in Bitcoin, which is not really an investment in big conscious speculation on Bitcoin that the price will go up. And they were doing exactly the same. And while, of course, it could make the argument this is not particularly a bad sign, but it is definitely not a good one either. As we have expected. And yet you can also make the argument that Bitcoin is kind of getting inflated through all those products, which are not Bitcoin settled. All right. Now let’s talk about bad sign number two, and that is the hash rate. Well, I can already tell you this is not as dramatic and it’s also not as bad as the last one. I’m going to show you the Bitcoin hash rate dropped approximately 35 percent. We didn’t have those numbers yesterday, but we have the numbers right now because it always takes time for those calculations to be made based on how long it takes to find the block. So we have the actual numbers. And what we can see in here was a drop from almost an all-time high of one hundred and thirty-six XA hashes back down to ninety-one exa hashes. That is approximately thirty-five percent. Now, this is not really such a big deal. And we already knew that something like that will happen. We do not know how far this will drop over the next couple of weeks. And certainly, we do not know how far this would drop if Bitcoin would go into another correction. If Bitcoin price would fall again, let’s say, to six thousand dollars. Five thousand dollars. I’m personally not expecting that this is going to happen. But what do you expect is going to happen to the cash rate if the Bitcoin price falls? Right now, we’re currently trading almost at 10000 U.S. dollars. And to be honest, a lot of the market participants were not even expecting that level. And we saw a hash rate rub of 35 percent. So this is the first argument in here. And the hash rate topic, what is going to happen if prices are falling a little bit further right now? And the second topic is, and this is very interesting, actually. There is now thirty-five percent of all the hash rate just sitting somewhere, not protecting the network, but potentially available to attack the network. Have you ever thought about that? Well, I know you could say it is only thirty-five percent of the hash rate. But what if the price drops? What if the hash rate drops? Then there will be more hash. Close to 50 percent of hash rate available somewhere. Which wouldn’t be profitable to mine? But it would be there currently not securing the network, potentially being ready to attack the network. Of course, this is very, very unlikely. And that’s also the reason why I find this the least concerning part in here. The hash rate, but definitely something to keep in mind. Now, let’s jump into the third sign, and that is the number of active Bitcoin notes. And this is the decentralization part of Bitcoin. The more notes we have, the more people, the more entities we have to verify transactions who basically verify the blockchain, what’s going on in the blockchain. And if everything is in order, if the transactions are in order and so on right now, if that number goes down, that means less decentralization. And although we have seen so many people being interested in the Bitcoin huffing, so many people watch the lifestreams and so on. So many people interested again in Bitcoin, mainstream media picking it up again. The number of notes is going back. Well over the last 24 hours, only zero point three, five percent. Absolutely no problem. Right. But and people are not looking at these 90 days. We lost almost 20 percent of all nodes. Think about that real quick. We lost one-fifth of all Bitcoin nodes. And yeah, that is definitely not a good sign. You cannot argue against that over one year. It is a little bit less significant. Eleven percent, but still 11 percent. That is one-tenth basically that we lost in notes over one year. And over the last two years, we lost here again almost 20 percent. So, of course, I hope that this number will go up and I’m actually pretty short at some point. This will number go up again. But we have to be real. There is not really such a big incentive for most people out there to run a Bitcoin notebook, because most people out there, they’re just interested in the speculative part. And this brings us back to Paul Tudor Jones at the Bitcoin options on. Most people in this market are just interested in gains in U.S. dollar terms. Right? They’re just interested in the Bitcoin price and the volatility of the Bitcoin price in making gains. All right, Ben, I’m very interested in your opinion down below in the comment section. What do you think about those three signs already problematic? And how problematic are they for Bitcoin, if you’ll like this content? Once again, don’t forget to leave. I like very much appreciate it and hopefully, see all of you in the next one by.


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