Probably by now, you’ve already heard so many Moone Boy bullish price predictions about a three hundred fifty thousand dollar Bitcoin, $1 million bitcoin, five million dollar Bitcoin. But in today’s episode, we’re going to be more realistic in today’s episode. I’m going to show you a price target of a seventy thousand dollar bitcoin and I’m going to tell you exactly when as well. Also, of course, we’re going to have a look at lower time frames and the fake-out. That happened yesterday to approximately seven thousand three hundred U.S. dollars. The price of Bitcoin already retraced back. Currently trading slightly below seven thousand two US dollars. Now, was this the yesterday’s predicted breakout already or is there more about to come? And last but not least, obviously, we’re not just going to talk about Bitcoin. There is so much going on in the world right now that the United States jobless claims after two weeks reached a peak of 10 million. That is a historical number, obviously, due to the virus, which also reached a new all-time high, seven-figure number one million total confirmed cases. All that and more in this episode. And now let’s jump right into it. And with that said, what is going on? Everyone, some decree here. And welcome back to another episode. First off, before we’re going to start with this episode, if you like this kind of content, please make sure to leave it like it only takes you one second. It is completely for free and it definitely helps to support this YouTube channel. If you look at the price of bitcoin on the one hour chart, I ‘m pretty sure some people were getting very excited yesterday here for Europeans. It was yesterday evening at about 9 p.m. and some people were already messaging me that I should go live because the price of bitcoin is going completely him. I was not going life and it was not really trusting this all too much. I needed confirmation that this does not just end up as a fake-out, which is exactly what happened. The price of bitcoin peaked at approximately seven thousand three hundred U.S. dollars. That depends on exchanges. And we had a massive sell-off again. And we’re now currently back below 7000 U.S. dollars at six thousand eight hundred approximately. While I’m recording this video, if I ever look at the four-hour chart in here, which is the most interesting one short term for me personally right now, we still see the decline in volume, but obviously there was quite a nice volume spike in here. We’re going to see that on Mazari as well in a second. That was due to this week in here to the upside. But if you have a look at this, I think we can all agree so far this is only a fake-out. But the ascending triangle did not break to the downside or anything like that. So it could be that we’re still going to be ranging in this consolidation phase in here and then break out later on. That is absolutely possible. Of course, there’s also the chance to break to the downside. But as I’ve told you in yesterday’s video, this breakout to the upside that we have seen yesterday was definitely way more likely because we have an ascending structure in here. We have higher lows. We have a decline in volume, which obviously could indicate a breakout to both sides. But all this together indicated to me that a breakup to the upside is more likely, but it ended as a fake-out. So we have to re-evaluate the situation right now. But the situation did not change. If you have a look at the volume right now and compare that to yesterday, we’re almost trading on two billion US dollars on 10 real exchanges over the last 24 hours. That is actually quite a bit. So this move definitely held some significance and it was not just a weakened pump and dump action. OK, so traders are really interested in defending the levels where we are right now in both directions, bullish and bearish directions. A fake-out to approximately seven thousand three hundred now back in the trading range of this ascending triangle. But the situation looks kind of the same as it did yesterday. But now let’s move on to bigger timeframes. And that is once again the Bitcoin monthly chart and something not that many people are talking about anymore, which is actually a little bit confusing, is that Bitcoin Hafen, which is coming up in approximately 40 days, only approximately 40 days left due to the bitcoin coughing. What is going to happen? Well, most probably the price of Bitcoin is not going to pump on the day of the harvest. That would not really make any sense except for if the price would be manipulated on that day. But the inflation of bitcoin is going to get Hoft. Currently, miners are getting twelve point five BTC for every block approximately every 10 minutes but offered bitcoin halfling only six-point to five BTC. So on a daily basis, miners don’t have one thousand eight hundred bitcoin to sell anymore, but only nine hundred. If you think about the constant selling pressure we have seen in this bear market from the miners and also from others obviously, but from the miners, that selling pressure is getting cut in half and that is absolutely amazing long term. And here we’re going to work on our prediction of 70000 to. And why? And also why dad is too conservative. So what we have seen so far in the past is again from the first morphing to the second top of approximately 10000 percent. Now from the second hall thing to the third top. It was approximately only three thousand percent. Does that make sense? Yes, absolutely. Because it takes way more money to pump the price of bitcoin when there is already more liquidity in the market already. So first we had a ten thousand percent gain. Then we had a three thousand percent gain. Now, what if we’re only going to get a 1000 percent gain from the whole thing and we’re gonna calculate that would a half in the price of approximately 7000 U.S. dollars because that is the range where we are in right now. And if we add 1000 percent. Well, that is times 10. Right. So 7000 U.S. dollars times 10. That will bring us to a price of seventy thousand U.S. dollars approximately. Now, the big question is, when is this going to happen? And for this, I have a very simple theory, and I’ve already been talking about that at this point. I would say we all agreed that the price of bitcoin is going in four-year cycles. Why is that? Because of the bitcoin huffing and it makes perfect sense, people are getting hyped for the whole thing. Then buy the rumour, sell the news. People are selling it off again. People are exaggerating. A bubble is creating. Then the bubble is getting sold off, then a bear market is creating and so on. Right. It is also human psychology, which is basically getting regulated more or less or which is getting structured by the four-year bitcoin morphing cycles. And I think that is more or less exactly what we have seen also for the tops and the bottoms, of course, plus-minus a couple of months. But we have seen the top in December 2017. So December 2017 plus four years. Well, that brings us to December two thousand and twenty-one. I know that is kind of sad to hear because a lot of people expected that this year we’re going to see the top right at the top of the parabolic face. But with all the turmoil on the world right now, with everything that’s going on, do you really believe that this year is going to be a new top for Bitcoin? Well, I mean, we can be lucky if we’re going to get a new all-time high this year, which I still believe is definitely possible. But December 2021 for a new Bitcoin top at seventy thousand U.S. dollars. Yes, that sounds very conservative. But also, I find that sounds very realistic. At the end of the day, most probably the price of bitcoin will go way, way higher because people tend to exaggerate. Just think about the form. What I was getting created when bitcoin reaches twenty thousand dollars again and then 30 and then fifty thousand U.S. dollars, people will completely freak out and sell everything and buy bitcoin. So most probably we’re going to see higher prices than seventy thousand U.S. dollars. I really expect we’re going to crack the one hundred thousand dollar mark in my personal opinion. But this is a very conservative approach and also about the timing. I think that is very realistic because once again, Bitcoin is going in 40-year cycles. The December top of 2017 plus four years brings us to December 2021, plus-minus a couple of months, obviously. And that is my prediction about the timing when we’re going to see the new top. Now, once again, for me personally, very interesting that not that many people are talking about the bitcoin hall thing anymore. Maybe because the price drop bitcoin apparently is not interesting anymore, but this is something fundamental, OK? It does not matter if people care about it or not. Because at the end of the day, the market will feel the decrease in fresh supply. Maybe it will take a little bit longer as expected that we really see the impact of the bitcoin morphing in the markets, but we will definitely feel it at the end of the day. And just in case that you are interested in trading bitcoin or all coins like a theorem X or P link, tasos like a coin or even commodities like gold on leverage, I personally recommend that Femm X platform, video tutorials popping up on top of the screen right now. And would my signup bling down below? You can get up to one hundred and twelve dollar bonus. Make sure to check it out. And now let’s continue with the video. All right. Now let’s jump into the US economy and what’s happening right there is very, very scary. I already announced that in the interim, but I just want to make sure that you understand what’s happening right there. Due to the current pandemic situation, by the way, we have now 1 million total confirmed cases here. I’m not going to go into the details about if China is reporting the right numbers and so on. I personally do not really care anymore. I mean, of course, I care about the whole situation. But I’ve heard it all right now. I heard all the conspiracy theories and so on. And so one. The reality is that the U.S. economy is not bleeding as much as it will soon. Why? Because most of the negative effects of the economy are laggy. So that means which is going to feel the. Of the virus later on and this is just the start. We see 10 million Sharpless claims and I want to show you that in a gif how much it actually is historically and this will absolutely blow your mind. Well, if those numbers are not concerning you, if those numbers are not making you ultra bearish on the economy right now. Well, I don’t know what numbers will. So, of course, Bitcoin is not going to benefit short term from this. If people have no money, they’re not going to buy Bitcoin with their 1200 helicopter drop. Right. They’re definitely not going to do that. They want to make sure that they stay liquid, that they can buy food, that they can pay rent and so on. Bitcoin is not going to be in their interest, which also would support the theory that nowhere most probably not going to see the top this year. First, the economy has to recover, which could actually be quite fast off there. The virus is under control. Right. I think that the economy could actually recover quite fast. And then in 2021, maybe we see that parabolic face and then until the end of 2021, December 2021, once again, plus-minus a couple of months, which would be 40 years after the last top, which would coincide perfectly with the cycles, then I can expect the price of bitcoin at approximately seventy thousand U.S. dollar. Once again, this is very conservative. I personally believe that the prices will be way, way higher. Also, with the U.S. dollar inflating constantly, it is not even that hard for bitcoin to be higher than 70000 U.S. dollars. But I thought it is just fair to give you guys, you know, like a not to moon boyish and not too bullish price prediction, which is somehow realistic based on numbers that we have seen already and based on the increased liquidity that already is in the bitcoin market. Don’t forget, it is getting harder and harder to pump the price of bitcoin because the higher the price, the higher the market capitalization and therefore the harder it is with your money to pump the price. But this is it already for today’s episode. Once again, if you enjoyed it, please make sure to leave alike. Also, let us know your opinion down below in the comments section. If you’re interested in Fenwick’s platform video tutorial popping up by my site right now, sign up. Bling down below for up to one on $12 bonus. Thank you, guys. We’re much and hopefully still a few in the next one. Bye.