In this episode, we’re going to talk about the Bitcoin price which broke out of this ascending triangle on this weekend, and it’s now once again testing ten thousand U.S. dollars. I’m going to show you why a breakout above 10000 U.S. dollars is very likely. We’re going to have a quick look at the leverage trading platform ex and their new product. They’re now not just offering leverage trading, but also spot trading. Very interesting. And probably the best part of today are two videos, which are pretty much the best commercial for Bitcoin out there. One is from the chairman of the Federal Reserve to Ron Paul himself, and the other one is from the government of Canada. And now let’s jump right into it. And with that said, what is going on? Everyone’s starting to cry here. And welcome back to another episode. If it goes like this kind of content, please make sure to leave like that is very much appreciated and definitely helped to support this YouTube channel. We’re starting off at the Bitcoin weekly Charton here. And as you can see, finally, we have some kind of a decisive breakout in here about this approximately 900 days down trend line the last week closed above in here. So we do not just have a week as we’ve seen it here back at fourteen, doesn’t use dollars, but we now finally have a close above this downtrend line. Some people would actually adjust this trendline a little bit and the angle a little bit differently. And then you could make the argument we did not break out yet. Of course, the next weeks are going to be very important to see if we bounce back in here or if we can finally establish in here a couple of candles above this downtrend line. But it really looks like that Bitcoin is taking the first steps in here to finally get out of this bear market or off this downtrend in here. And that is a very, very good sign on the Bitcoin daily chart. We have great news as well. Bitcoin did not just bounce off the level of the 200 daily moving average to near a couple of days ago. But Bitcoin also bounced off this downtrend line. We were just looking at previously. So this is great. Probably already heard the sentence. A market is bullish when resistance is getting turned into support. And that is exactly what we’re seeing in here. We had this as resistance previously, this downtrend line in here that we were chasing on the weekly chart. Then Bitcoin broke above it, broke below it. We had the 200-day moving average support. But now it actually looks like that we have this downtrend line here as support. And that is definitely a very good sign in here on the Bitcoin one hour charge. What we have seen over this weekend was a very clear breakout above this ascending triangle right here. And that to the upside, which is great. Obviously, we have seen some kind of a consolidation phase in here. But now we actually had some volume even on breakout candles. Bitcoin is now kind of adjusting at the beginning of the week. So the weekend did not disappoint. But now Monday and also Tuesday is going to be very, very interesting. What we can see in here also the real economy is going to be interesting because so far we have seen that the real economy, the S&P 500, Dow Jones, have been leading indicator for the price of Bitcoin. And I’m not quite sure if that changed already. We have seen some signs that Bitcoin maybe is the couple right now, but we cannot guarantee it. This is not certain yet. OK, we need a longer time frame to see if that is actually the case. So the S&P 500, the real economy still holds a lot of significance for the price of Bitcoin. We can not talk that away. But so far, the development in here looks actually quite nice. Once again, we broke out here off this ascending triangle, but Bitcoin was not able yet to break 10000 U.S. dollars. If we draw a horizontal line in here at exactly ten thousand U.S. dollars, you can see that. Well, not quite. We were close to 10000 U.S. dollars multiple times, but so far we were not able to break it. And that is exactly the reason why I believe that a 10000 to as dollar breakout is imminent because the more you test something resistance or support, the more likely it gets that you’re actually breaking through. Okay. That is just simple statistics. And what we can see in here was two tests here on the one hour chart. Obviously, we have a look at the daily chart here. The situation actually looks a little bit different. Here we have more tests to figure out for a ten thousand dollar line in here as well at exactly ten thousand U.S. dollars. You can see that here we actually broke ten thousand U.S. dollars. Well, we can consider this another test. Here you can see the same thing that we’ve seen on the one hour charged with multiple tests in here off the ten thousand U.S. dollar marks. Once again, the more you test something, the more likely it gets that we’re going to breakthrough. So once again, I personally believe that this week we’re going to see a Bitcoin breakout through the 10000 U.S. dollar mark. And if you guys are interested in trading this breakout or if you think that you could use me as a counter indicator and trade against me and trade against my call, you can do that on the FedEx platform. This is the platform I’m recommending. They now not just offer lever trading. They also offer spot trading where you can trade Bitcoin, want to one where you have your actual Bitcoin. If you guys are interested in that, a tutorial is popping up on top of the screen right now. And my sign up bling down below you can get an up to. One hundred and twelve dollar bonus. But that is not all of it for the spot trading. You don’t pay any fees. It’s a monthly membership. And if you type in your user I.D. ophthalmics down below, Fenwicks is doing a giveaway and giving away free monthly memberships. So if you are already on FedEx or if you’re opening up an account right now, make sure you type your user I.D. down below in the comments section and you participate in the giveaway automatically for the three months of free trading on the spot market of femoris. All right. Now, it’s getting interesting. Some people are complaining, why are there no commercials for Bitcoin out there? Well, aren’t they? I’m not so sure about that. If this is not the best commercial for Bitcoin out there, I have no idea what is. Let’s play a clip. In the early days of the crisis in this board room, you and the committee. Lowered interest rates essentially to zero, would you lower them further into negative territory, which the president has suggested is a good idea around this table during the last crisis and during the recovery? We looked at negative interest rates and it’s something we decided not to do. We used other tools instead and those tools and vault forward guidance about the federal funds rate and also lots of asset purchases or quantitative easing, as it’s often referred to. I continue to think and my colleagues on the Federal Open Market Committee continue to think that negative interest rates, this is probably not an appropriate or useful policy for us here in the United States. And why not? The president seems to think it would help. The evidence on whether it helps is quite mixed. The issue is people would be depositing money in the bank and that money would be shrinking. They’d be paying interest to put their money in the bank. So it’s not a particularly popular policy, as you can imagine. But in addition, it can also do tend to depress the profitability of banks, which makes them likely to lend less, which weighs on economic growth. So I would just say it’s not at all settled in, you know, an economic analysis that negative rates really add much value. I think the idea of negative interest rates is something that a lot of people have a difficult time getting their head around. Would you explain it to me? Well, rather than being paid interest on your cash, you pay interest to the bank. If you borrow money, they pay you to borrow money. And if you lend them money by putting it in a bank, then they pay you money. So the banks would pay people to borrow money, essentially. Yes. And that would conceivably cause more business and commerce to happen. It would. But, you know, this has been tried. We have negative policy rates in many countries around the world as a result of the financial crisis. And there’s no clear finding that it actually does support economic activity on the net. It introduces distortions into the financial system, which I think offset that. So, you know, there are plenty of people who think net negative interest rates are a good policy, but we don’t really think so at the Federal Reserve. And I think there’s it’s an area of real uncertainty in the central banking world. Now, I’m going to ask you the question. Does that really sound that the Federal Reserve? Know what they’re doing? Well, not to me, but this is not all of it. What I’m going to show you right now is way, way, way better. This is a clip from Canada. And what’s happening right here well, is an even better commercial than what we have just seen for Bitcoin. Let’s play this clip. The fact that the total liabilities of the government, Canada, the honourable minister, Mr Speaker, we will continue to support Canadians through this time with support not only for businesses but for individuals to get through and get a bridge to a better time. Paul? Yeah, just the dollar value inaudible Minister. And that’s a continuing commitment, Mr Speaker. Yeah, I know we shouldn’t ask the minister about numbers. He’s just the finance minister, after all. But what is the equity of the government candidates on the government‘s balance sheet? Well, Minister Mr Speaker, I would advise a member of Karlton to memorize those auditor general figures for his next foray into the House of Commons. Probably so. The minister has claimed that our balance sheet is strong. There are three components to a balance sheet the assets, the liabilities and the equity. And the minister doesn’t know any of the three. So clearly, he doesn’t actually know anything about our balance sheet. That’s reassuring. Now, according to the auditor general, the net negative net worth of our government of Canada will be as much as a trillion dollars by the end of this fiscal year. Can the minister, if he’s for failure with any of these numbers, tell us is it possible his government will hit a trillion dollars of debt this year? Minister of Finance. Mr Speaker, I want to assure Canadians that our approach will be to continue to make investments on their behalf, and that is available to us because of our strong fiscal position. But we will continue to take that approach, which we think is the appropriate approach. Probably half a trillion dollars, yes or no? The honourable minister, Mr Speaker, as I said, we will continue to focus on the importance of supporting Canadians. Mr Baez, what is the size of our current national debt? Well, Minister and Mr Speaker, I think that what will happen as we do that is we will allow ourselves to have a stronger economy at the end because of these investments. Oh, yes. Size the national debt. The honourable minister. And we have always seen, Mr Speaker, that these investments are not only supporting Canadians, are sporting businesses so that we do have a strong economy and a strong fiscal position. Coming out of this dispute, does the finance minister know this side of our national debt? The honourable minister interpreters? Mr Speaker, I will continue to focus our efforts as we believe we should focus them on supporting Canadians through this time, especially as does the prime minister, the finance minister, know what a trillion dollars is, the economy minister. Mr Speaker, we are continuing to make investments that we believe are prudent in the face of this economic challenge, supporting Canadians as we know we need to aspire. What is the total dollar value of all the public and private debt in Canada? The honourable minister. Mr Speaker, we know that by supporting Canadians by themselves, because that’s. What is the total that public and private as a share of GDP in Canada? The honourable minister. Mr Speaker, the important consideration here is that the federal government is taking a position that we should support Canadians so that they don’t take on the debt themselves. Last intervention. And yet they have record household debt, record corporate debt and growing quite a growing government debt. The finance minister doesn’t seem to know any of the basic numbers you would be required to govern the finances of the government of Canada. I will give him one last chance. What is based on his latest briefings, the total size of Canada’s national debt? He doesn’t know. Can he have the humility and honesty just to say so? Well, at this point, they can understand. If you are seeing right now, this is fake. This cannot be real. But I’ve watched this clip on multiple sides, and it doesn’t seem to be fake. Well, it is hard to understand for me as well. But if this is not the best commercial for Bitcoin, because politicians, they don’t know what they’re doing. Apparently, they don’t know how to manage the finances out there. They don’t even know the debt they are living with. Well, with Bitcoin, all of that would be quite simple, actually. Bitcoin is very cleared. Blockchain is very clear. It always knows exactly who has what. And no new bitcoin can be created when there is a crisis. Right. So basically, the best commercial for Bitcoin is our current system, our current monetary policy. And those two clips they show exactly, dad. But that does it all ready for today’s episode. Once again, if you want to participate in that Flemming’s giveaway, make sure that you’ll leave your user I.D. down below in the comments section. And if you’ll like this episode, don’t forget to leave like that is very much appreciated. Thank you very much for watching and hopefully see all of you in the next one. Bye.