Today in crypto, everyone in the United States might be getting a six thousand dollar check in the mail, which is going to be pretty gosh darn awesome for Bitcoin. Read it releases crypto tokens on a theorem and on-chain data, as well as technical indicators, are all showing that the market is looking insanely bullish. The crypto lark. This is where you subscribe for your Daily Dose of Hope UAM and all of the hottest and the latest happening out there in crypto land. Also, for those of you who are new to crypto and you still need help mastering the basics like how and where to buy Bitcoin, how to send Bitcoin, how to store your Bitcoin, how to mine Bitcoin, as well as the top tips in resources for successfully investing in this wild market. Then check out my beginner course, cryptocurrency explained. There’s a link down below where you can learn more. So let’s go ahead and dive into the charts to get started off with. Bitcoin has had a very strong day showing a strong push continuing from our bounce off of the 200 days moving average just a few days ago, which is definitely a technically bullish sign that we are seeing forming up in the markets right now. Now, the price did top out today at nine thousand nine hundred forty-three dollars, the time recording this video before getting rejected again near that ten thousand dollar mark. Now, also at the time, recording Bitcoin is slowly grinding upward again. After that rejection on the shorter timeframes, we see a bullish pennant forming up that we could see breaking upwards to again retest ten thousand dollars for a second time today. Ten thousand dollars remains an absolutely key number for Bitcoin to crash. It has been a very important price line for Bitcoin. Even more important than twenty thousand dollars really ever has been. And after we win the fight to break into hold ten thousand dollars, we immediately run into another monster at ten thousand five hundred dollars. So it could be a rough time ahead, trying to break into hold above these two critical price levels. On the higher timeframes, we can see the 50 weeks moving average. Now actually acting as a line of support for Bitcoin, which is a very, very strong indicator on those higher timeframes. And it also shows really just the wider market strength that we see building up. Again, though, Bitcoin is struggling to break into hold above that trend line on the weekly that has suppressed the market for over two years. They’ve been testing that a lot recently. So hopefully a break of that line is going to becoming. It’s seeming increasingly likely that that is where we are headed. The weekly Mack D is currently on a strong bullish trajectory as well. That is a rare event that usually signifies a strong upward trending market and back over on the daily. We might be only a few days away from the fabled Golden Cross, which could really unleash the bulls when it happens. We had a false golden cross earlier this year and then, of course, the whole Mexican beer thing happened and that kind of killed that momentum. But hopefully, this one holds up moving forward. Of course, this could all break down again. I will keep saying it as long as we maintain above the 200-day moving average, then this market is bullish. If we break below that, well, you know, story, the 2017 run literally saw the price of Bitcoin maintained above the 200 days moving average for more than two years straight. Some to think about. So this could happen again. Be ready. A big thank you to Krypto dot com for sponsoring today’s episode. The next syndicate event has been announced on May 26. So you’ll be able to grab a bag of icon with a massive 50 percent discount. So for all those icon fans out there, this is a good offer for you. Remember that you’ll need to stake S.R.O. tokens to be able to participate. And of course, you need to go over and register for an account on the cryptid dot com exchange, not the app. And speaking of the app, Krypto dot com just brought out a new asset allocation feature for the app. So now you can easily get an overview of your entire portfolio in just one click, which is a nice little bonus feature that makes using the cryptid dot com app just that little bit better. And of course, if you want to start earning some sweet Krypto back rewards, and that is a great time to get the wildly popular Krypto dot com debit card, the two best options are the ruby red card, which gives you two percent Krypto back for every swipe of your card, as well as free Spotify or the Jade Green card, which is when I have my hand here, which gives you three percent Krypto back rewards for every swipe the card free Spotify, free Netflix, an airport lounge access. And as a special bonus, if you use the link Downbelow to reserve a ruby red tier card or higher than you will get a free fifty dollar bonus. Yep, 50 bucks of free money for getting one of these bad boys. So let’s start talking about the bullish bitcoin market data that has been coming up recently. Almost 24000 Bitcoin have been withdrawn from exchanges since the Bitcoin having, which is actually a continuation of a trend that started back in mid-April as we saw more retail buyers coming into the market. This is obviously a very significant amount of Bitcoin, and it could indicate that investors are taking responsibility for their crypto, not trusting exchanges to hold it for them, which is a good thing. And course, possible that a large number of new users simply have come in over the previous weeks and bought Bitcoin with the intention of holding it long term, waiting for the next big run to come in before actually cashing out. Now, another very bullish data point is the active supply of Bitcoin, which has just reached a three year high, indicating a huge amount of on-chain activity for Bitcoin. You can see quite clearly on the chart here, the last time that we had a massive run-up like this was during the heavy accumulation period that preceded the previous insane parabolic market rally back in twenty seventeen, meaning that when we do see this trend reverse, that it will likely mean that the bull market is actually starting to lift off on its journey to the moon. Right now, we’re just firing up the engines. We are in that accumulation phase still for Bitcoin. But it also says to me that we’re nearing the end of that accumulation phase. So act accordingly. You have had two years to buy Bitcoin at cheap prices. It’s not going to last forever. And also, a very interesting piece of data for you is that the percentage of Bitcoin mining revenue generated from transaction fees reached thirteen point one percent yesterday. That’s the highest it’s been since January. Twenty eighteen. Now, this is partial, of course, because the Bitcoin having has reduced the block reward and also partially because we’ve seen on-chain fees going up, which is not a particularly awesome thing and is good for the miners, but not as awesome for the actual users. One is sent Bitcoin for point A to point B. All that on-chain activity we’re seeing has been creating too much demand for block space and of course, is pushing the fees up with it. Today, fees are almost four dollars. Another factor, support the huge amount of interest growing in Bitcoin right now is that Google search trends for the term buy bitcoin have seen massive growth recently, now exceeding the highs of the summer of 2019. During the many Bullrun that we had so Hoddle on my friends, now is the time for stacking. Now is the time for chilling. We’re gonna be doing crazy things over the next couple years. Next up, Reddit is introducing about 20 million people to cryptocurrency. They’re releasing two tokens, one named moons and the other named BRICS. The tokens will be issued to members of just only two Subrata to start off with those, not the whole Reddit community. So it’s four. Our slash cryptocurrency and our slash Fortnights B are as part of red. It’s a new initiative called Community Points. Both of these tokens will be E RC. Twenty tokens, of course, issued on the theorem blockchain with Reddit implementing what is going to be called the Redditt vault, essentially in theory and wallet where the tokens will be stored. This is currently on theorems test net, not the main net yet. The test net but. Wow. Seriously, wow. The scope of this is just it’s absolutely insane. Reddit, it has four hundred and thirty million daily users. It is the seventh most visited the site on the Internet and 64 percent of red its users are aged between 18 and 24. Just stopped. Let those statistics sink into your head for a second. Read it. One of the most popular Web sites in the world just announced their trial of a theorem based tokens for the next generation of Internet users. Look around the curve, not where we are today. This is mine. Bending bullish for a theorem. I am still stacking my ethe up. The thing is, it’s gonna go back over a thousand dollars coin. It’s already accomplished by. The question of when bumping up. But don’t happen as soon as we like it too. Because in much less encouraging a theorem news, Retallack Budarin is now walking back comments that Ethe 2.0 will be coming out in July. Apparently the multi-client test net approach is slowing things down, which kind of not surprised. Now, of course, they’re talking about, well, maybe it’s going to happen sometime later this year, maybe even 2021. Anyone who’s watching a theory and for a while knows that theorem to point to them plagued by delays. Look, I understand it’s hard to change the engine in a car that’s going down the road doing a hundred without stopping the car. This is the magic trick that a theorem is trying to pull off right now. And look, that upgrade, that upgrade cannot come soon enough. The pressure on theorem developers to deliver is massive right now, and they only have one chance to really get this right. So let’s go back just for one second of that previous news story is that it really ties in with this when read, it fully rolls out their tokens on the theory, the main net. It could be Krypto kiddies all over again. Imagine millions of people trying to create wallets to transfer those tokens to cash out those tokens. Send those folks, impersonate a person, be it could get real crazy real quick. Fees have already been spiking on theory and recently read it. It could just push it through the roof. Ethe 2.0 needs to happen. A. S a p. Get busy Retallack. And finally, if you live in the USA, then you might be getting a new round of stimulus checks money for everyone. Another three trillion dollar crisis package has been proposed in the USA. Note this is a proposal. This bill has not been passed yet. The final version could be different, but if it is passed in its current form, then families could receive up to six thousand dollars. So that’s 12 hundred dollars per adult and twelve hundred dollars per kid, up to three kids. So it’s a household check. Remember when the first round of 12 hundred dollar checks came, Coinbase actually saw a big spike in deposits of exactly twelve hundred dollars? Well, my guess is that there are enough people out there in the economy who are doing okay. When they get that check, they’re going to take it and dump it into. Well, Bitcoin and other investments, of course, but potentially a lot of money, again, coming into Bitcoin. But like most of these bills, the final version of the bill, probably just some crumbs for the regular people and more free money for Wall Street and course for the mega-corporations. They always seem to get the lion’s share of any of these packages that come out. That was the way it was for the other four bills. I don’t see why it would be any different for this one. But aside from just some people buying Bitcoin, I think this is good for Bitcoin because honestly, I have lost all sense of the money being thrown around in the USA. The numbers are just it’s impossible to comprehend. Just last week, the U.S. Treasury borrowed three trillion dollars. The week before, it was hundreds of billions of dollars more for small businesses. The week before, that was infinite bailouts for the oil industry. This is insane. Trillions upon, trillions upon trillions of dollars being spent, printed, airdropped, handed out corporations bailing out Wall Street, buying junk bonds. They don’t even know how much money it is anymore. It’s just insanity. And this is all good for Bitcoin because how the dollar actually comes out of the situation in one piece. I don’t see how that happens. This is not going to end well at some point. The effects of the growing debt and the massive inflation, the corporatism and the corruption and just the general fiscal insanity that we see, particularly from the U.S. central bank, those evil roosters are going to come home to roost at some point. And it’s not going to be pretty. And when all this happens, being a Bitcoin holder is going to be a good feeling. So aside from some people maybe whose estimates secretaries buy Bitcoin. This is good for the macro picture of Bitcoin. So your question for today, if you get a cheque for six thousand dollars in the mail from your government, would you spend it all on Bitcoin? Maybe you would spend it on another crypto, maybe go buy some light coin with America, buy some stocks or some gold? Or would you actually go and use that money to pay bills and buy food and all that kind of stuff? Let me know, Downbelow. Seriously, you guys are freaking awesome. Your support means everything. This channel is not possible without you. So thank you so, so much for continued sports channel being part of the community. You’re freaking awesome. Thank you so much. Long live the blockchain and peace out till next time.


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