All right welcome back everybody to altcoins daily my name’s Austin if you have ever wondered where the price of bitcoin is heading next this is the video for you hit the like button we’re going over several big queen charts today we’re gonna get into short term time scale but I want to start with some big picture macro economic time frames with big goin compared to other global reserve currencies of the world let’s jump in I took five hundred years of global reserve currency data and overlaid ray Dalio’s relative standing of great empire charts so as we all know government backed fiat has a shelf life right it doesn’t last forever because governments because empires they don’t last forever even the most successful empire like the Roman Empire eventually it crumbled this is a chart of the estimated relative standing of great empires so the dominance of great empires throughout history from the fifteen hundreds all the way till today twenty twenty compared to the global reserve currencies that were strongest at the time so first off as you can see historically speaking fiat money from different regimes throughout history really only have a shelf life of about a one hundred two at most two hundred years this is why S. O. V. stores of value have been so important to mankind throughout history because regimes come and go but if somebody can find a store of value for their money like gold that’s how an individual can retain their wealth despite what fiat money does so check this out this relative strength index goes from zero to one and this is the level of empires relative to other empires and the global reserve currencies that were had the most power most dominance at that time Spain’s currency at least it’s dominance as the global reserve currency of the world lasted about a hundred and eleven years as you can see the U. K. the global reserve currency from the eighteen hundreds the beginning of the nineteen hundreds and that brings us to the Global reserve currency of today the U. S. I started in nineteen twenty it peaked and then today yes the U. S. dollar still stronger than every other currency in the world but compared to our peak dominance about fifty years ago we have lost about twenty five percent of our strength and who’s gaining this red dotted line represents China if in the last twenty two really thirty years China’s currency has gained this much dominance compared to the US compared everything else where will this chart be in another fifty years this is why stores of value to the human race are so important now I like this because gold is not a state gold is not a nation bitcoin is not a state bitcoin is not a nation they’re independent they’re not controlled by any third party in gold has been proven to be a store of value used to successively over nations over centuries for big coin it may well be used by several successive nations over centuries or millennia because bitcoin is a harder money now I would have loved to see gold on this chart especially once we got to the nineteen thirties and nineteen seventies but I like this if and the next hundred years bitcoin I’ve added the equation Hey we started here nothing and on a macro economic timeline how long will be tale we peak now we see nothing takes forever they’ll be ads inflows if gold is on this chart we see peaks and meets the ABS and follows a relatively with gold we’d see the strength somewhere near the top macro economically for bit coin we’re pretty early Hey let me know what you think down below in the comments yes it’s a really easy to speculate on large scale time frames but we can get ultra specific on smaller time scales like where the bitcoin prices today and where the bitcoin price is headed in the near future let’s jump in first off many of you are still asking me Austin how do I participate in this charity poker tournament many of you are still asking me Hey I see Charlie Lee is gonna be playing. Ran Neuner Ben Askren tone vase Dan held I want to trash talk Charlie about like going on a bus to send these people out this is for charity it’s gonna be fun if you want to be a part of this you have less than forty eight hours I repeat you have less than forty eight hours I’m gonna put a link down below in the description and by the way myself my brother we will be playing we’ll be talking to you on these poker tables it’s online anybody in the world in the U. S. can participate there’s a link down below less than forty eight hours it’s gonna be a lot of fun but moving into smaller time frames the next bitcoin chart the big point Maher multiple this was created by prodigal son O. G. B. corner trace Mayer who’s since been ostracized from a lot of the big point community for trying to shill a fifty percent premium to coin but anyway the metric still stands the mayor multiple is calculated by dividing the bitcoin price today by the two hundred day moving average of that price and this is just a way to analyze the price of bitcoin in a hate in a historical context so right now where we stand today the mayor multiple is at point eight to four and the big coin price is around six thousand eight hundred now again point H. two four does not happen every time big points price is sixty eight hundred this is based on the bitcoin price today this yellow line right this looks familiar and the two hundred day moving average that dotted line and noticed big points price right now is still below the two hundred day moving average this other websites as point eighty three so is this a good time to buy historically speaking well first off the mirror multiple has historically been higher than today’s value seventy five percent of the time meeting big coin and its value has been higher than this relative to its moving average seventy five percent of time the average male multiple since its creation of big wine is about one point three seven again just based on this and. Metric showing that were undervalued point eight three compared to on average one point three seven now what is the significance of two point four well based on simulations beforehand by trace mayor in the past to determine that the best a long term results for buying bitcoin was achieved by accumulating big coin whenever the mayor multiple it was below two point four again right now our point eighty three contextually speaking it was a couple months ago that the mayor multiples point five we’ve only ever hated that Love Me or multiple one two three times in big coins life obviously we’re only gonna know when a local low happens after it happens the point is point eight five point eight three not a bad time according to the bitcoin there multiple one last big queen charts this is the first time that I’m showing you this this one’s more experimental meaning its new meaning it’s still being proven but this is a big points network momentum so this is a leading indicator as opposed to the bullishness and bearishness of Twitter that’s a trailing indicator right Twitter gets bullish after the price already moved or perish after the prices already fall this is supposedly a leading indicator bitcoin network momentum this indicator network momentum is a view created by Philip swift which looks into the value it transmitted through the bitcoin blockchain denominated in BTC value plotted against big coin price so basically sufficiently high levels of value throughput are needed to drive a bull market and this looks at the value going through the blockchain as an indicator as a precursor to leading the bull market and before we get to where we stand today all this data comes from coin metrics pro the official bull market in the price started when the momentum in the blockchain past all time highs a value transmitted momentum in the blockchain when it confirmed it passed again so notice we sell lots this is two thousand eleven two thousand twelve notice back here the price. Pete and we saw a lot of momentum in the blockchain we still we need confirmation in two thousand twelve we were going up but again we didn’t pass previous highs it wasn’t until the networking momentum past previous network momentum heights the price at the time wasn’t necessarily going up yet but because the networking momentum in the blockchain had confirmed previous ties the bull market had officially started and the price started to climb that was the first instance if we look at two thousand seventeen the momentum start in two thousand fourteen to two thousand sixteen notice the bull market didn’t officially start until the momentum past highs of the previous bull market for momentum and of course the price had a move yet but the momentum in the blockchain is there and prices continue to creep up so where are we today well we saw a lot of momentum in this run-up last year when bitcoin hit almost fourteen K. right now mmhm momentum is minimal and the blockchain okay. What do you think to me this says yes well the mere multiple that was bullish saying Hey it’s a great time to buy to me this as if we’re just going by this and again this is just experimental I don’t have that many data points to go by but to me this says that we’re seeing the momentum but the confirmed bull market will not start until this momentum passes the old highs of the last bull market so. We have a long way to go Hey I’m just being realistic. Do you agree do you disagree let me know down below in the comments but that is the video for today my name’s Austin and like always I’ll see you tomorrow.
Don’t forget to a play with us of the poker tournaments less than forty-eight hours. I guess and let me know in the comments will you are you playing the poker tournament a lot of people have been asking me so that’s why I wanna make sure we get this information right last time there are almost three hundred people playing again fifty percent of the winnings go to the final table fifty percent of charity but there should be a lot more people this time it’s gonna be fun.