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WATCH OUT! BITCOIN’S BIG DILEMMA TO PUMP ALTCOINS IN 2020 – BTC PRICE TESTING $9400

VIDEO TRANSCRIPT

Today in crypto yea, bitcoin is testing ninety-four hundred dollars again. But Bitcoin has got a massive problem moving into the next bull run, a problem which is likely to send all coins soaring into bringing in another AWALT coin, a season that will indeed make many people sick. Gates the crypto alert. This is where you subscribe for all of the hottest and all of the latest happening out there in the wild, wildland of crypto. So before we jump into all the charts and the reasons for all these different things happening with Bitcoin moving forward, there are two crazy deals going on right now that I want to discuss with you. Now, usually, I try not to shill too referral links in one video, but these are both very limited time offers. And I want you to not miss out on these deals if you do want to get involved. Of course, now you don’t want to hear about these awesome offers and just skip a little forward in the video to get onto the charts section of today’s conversation. So the first deal is that Ledger is having a huge sale on their nano s devices so you can get 50 percent off wowsers. If you have been on the fence about getting yourself a hardware wallet to secure your bitcoin and to control your private keys, now is the time to do it. 50 percent off is a smoking hot deal. This offer is valid until the 17th and is only for the Nano asked. This thing is a workhorse of the Ledger series, not as fancy as the Nano X, but certainly a dependable device and a great place for storing your bitcoins. Now the second offer is from Block PHY. Block PHY is giving away one hundred dollars in free bitcoin. One hundred bucks of free bitcoin. It’s crazy. Here is how it works. Step one, register for an account on block five. Now, this is only valid for new sign-ups. Step two deposit two hundred dollars or more in crypto by May 14th, midnight UTC time. So only a few hours away from now. And step three, maintain that balance until July 30th. If you do these three simple things and you’ll get one hundred dollars in free bitcoin paid out in your August interest payment, plus, of course, you’ll earn six percent APRC on your bitcoin while it is sitting over there in your interest account. Or if you deposit stable coins, will earn eight point six percent APRC on your stable coins. Or if you decide to put in a theorem, you will earn 4.5 percent APRC on your theorem. In the description of this video and on the pinned comment of this video, you’ll find links for both of his offers and the promotional codes. If you are asked for it on the Web site, but act fast because these deals won’t last for long. OK, so let’s take a quick look at the charts to get started off with today. Bitcoin has just put in a very nice green candle on the daily and it is making that bounce off of the 200 days moving average look like it is indeed going to be something very strong. Of course, as a technically bullish move, breaking out, coming back down to retest support and then breaking out again, that could push us up for a retest of ten thousand dollars sooner than a lot of people think. Also, we are seeing some very nice bullish action on these shorter timeframes with a strong Mac D crossover playing out on the 4:00 hour, indicating that there is still lots of room for the price to run higher in the short term. Now, maybe, maybe we’ll finally break out of this downtrend that we’ve been seeing for me up in the Daily for a long time, that having pump gave us a failed break out above that line. But maybe this time we can actually break out for real again, testing. This is a critical move. Kind of crazy, really, right now. We have a lot of lines of support and resistance kind of closing in on each other around these particular price levels or refined Bitcoin out right now. Something big is brewing for the price of Bitcoin. But this regarding for a moment. The daily and the weekly downtrend line’s been talking about a lot here. Ten thousand dollars. It’s really the number to beat for Bitcoin. I think that this is the level where we start to see the herd of institutional and retail investors are starting to come in, turn into a stampede. And that’s, of course, when we get the big bull run happening. You can see that in the last year we’ve only spent a few weeks above the ten thousand dollar mark. So psychologically, it’s very, very important and I remain confident that we will break and hold above this level. The only question is how long it’s going to take to really make that strong move. And the simple fact is that Bitcoin has had such a strong surge since the crash. It really just it underlines how strong the markets are for crypto. But that being said, there are a few big problems. Bitcoin, that will actually be good news for the ultra coin markets. Bitcoin dominance. So the Bitcoin dominance uptrend in particular really broke. Back in January. The short term surge that we’ve seen recently really is only thanks to the having an interest in Bitcoin around the having. So what does a lower Bitcoin dominance actually mean? Well, it means more room for Alte coins to make incredible SIFF gains. Obviously, now, in spite of that short upsurge, due to the having, I think the Bitcoin dominance is probably going to continue to fall throughout 2020 because except price goes up. Bitcoin really has nothing significant on the calendar for another four years. The man just keeps on Bitcoin eating and hey. Yeah, sure. Maybe one day we’re gonna get Schnoor signatures, but that’s not going to be anything revolutionary for Bitcoin. And to be clear, the dominance for Bitcoin can fall in. The price of Bitcoin can rise in January 2018. The dominance of Bitcoin was thirty-five percent, which is almost half what it is now with the price of Bitcoin was fourteen thousand dollars. It just shows that more money will be flowing into all coins. Now, does that mean that Bitcoin will no longer be the king of the markets? No. Bitcoin will be the king of the crypto markets. Bitcoin is the world’s first money with a truly fixed supply. It is a digital pioneer of monetary disruption. It’s insanely secure. It remains highly decentralized and has an incredible infrastructure built around it is very, very deep liquidity. Bitcoin is going to continue wearing that crown for the foreseeable future. But all that being said, the bull market will bring increased attention to Alte coins. Now, partially, this is due for psychological reasons when the market is gripped by fear. What do people do? They go back into Bitcoin or they go into cash and they get out. They’re incredibly speculative Alte Quain positions. But when the markets are booming, what do investors do? They seek out overnight riches and the UPT coin casino. Now, here is something very interesting from Coinbase. A little bit of data. They put out among customers with at least five purchases on Coinbase, 60 percent start with Bitcoin, but just 24 percent stick exclusively to Bitcoin in total, over 75 percent. Eventually buy other assets, meaning that all of these people who just crowded into Bitcoin over the last six weeks, if they haven’t already, they will soon start diversifying into Alte coins. Bitcoin is just the gateway drug man. It’s the top of the funnel bringing people into crypto. But investors, they soon start to seek out more gains and more use cases. Once you start seeing old coins pumped by 50 percent, you think, well, five percent for Bitcoin seems kinda kind of modest. Besides, of course, just the sick gains and the increased utility from all coins. A bull run will also mean higher bitcoin fees, possibly way higher. You see Bitcoin transaction fees, they’re already spiking again. The average fee right now is almost three dollars to get a transaction into the next block. Digital gold, nice digital currency, but shakier on that one. Maybe we just need to give up on the idea of Bitcoin being a day to day peer to peer currency. I mean, you can use it like that, but it’s not gonna be useful for a lot of people. May wishes to look on it as digital. Hard money, digital gold store value kind of stuff. Anyway, we have a way the new investors coming into the markets. The price will rise in the coming months. In the coming years. And Bitcoin has technologically almost done nothing to evolve since the last bull run. It’s not a bad thing. It’s just the reality of what Bitcoin is. It’s the slow golden tank. Sure, we have more mentation of Cygwin, which does lower fees by an extent. But in reality, Segway implementation was painfully slow and it actually did little more than just kick the can down the road. So it’s still a problem, just a delayed problem. But if the average fee is three dollars right now, we haven’t even started seeing the insane price rallies yet. Then you have to keep it real. And there is a very, very high chance that fees will spike super hard in a coming couple of years. In twenty seventeen, we saw fees as high 70 or 80 dollars to send a Bitcoin transaction. But even three dollars is ridiculous. Man, if we want Bitcoin to be the people’s money, then we’re excluding about, I don’t know, half the world’s population. A huge amount of people are going to find it completely impractical. Use Bitcoin, of course, be less. Send a transaction. As of today, there are at least 750 million people living on a dollar ninety a day. If we extend it out to people who might, for example, make ten dollars a day, which is common enough and a lot of the world’s developing countries that we’re talking about, billions of people here who either are going to see a Bitcoin Phoebe worth more than their daily wages, or we’re expecting them to pay, what, 30 percent of their daily salary just to send money to the merchant or whoever else they’re trying to send money to pay for their groceries or something like that. Not going to happen. The harsh truth is that right now, Bitcoin is not well suited to serve billions of people around the world. The transaction fees alone exclude probably half of the world’s population from being able to use Bitcoin. And in a really practical way, yes, of course, we had the lightning network, which will at some point in the future, do something to improve speed and of course, but bring in cheaper fees. Let’s layer two solutions. I’m not saying that you know, the banks are some great alternative either. You guys know my position on banks. Banks are a total mess. International bank transfer fees are obscene. The remittance industry is just disgusting. It preys on the most vulnerable people in society, just rapes them with fees. And even domestically, banks often charge you to withdrawing your cash or having too little money. You’re having too much money is just it’s crazy. Fees are their big innovation. But if the fees for Bitcoin are already three dollars and the Bullrun hasn’t even started yet, then expect Bitcoin fees to surge as the retail Toonami comes in over the next 12 to 24 months. And I’m not bringing this up to bash Bitcoins, so please don’t think that it is what it is, man. It’s Bitcoin. Bitcoin is digital gold. And if it costs me ten or twenty dollars to move a few thousand dollars around to send some Bitcoin to an exchange and bring it off in exchange, not a big deal for me personally, but fees over ten dollars can and will be a big deal for a lot of people. One thing I can tell you is this Bitcoin has nailed down digital scarcity. Bitcoin has nailed down the digital store of value. Hands down. But it has not nailed down the peer to peer currency each. The market remains wide open for this. The success and adoption of the Lightning Network, in my opinion, is very far from certain. Competitors like Dasch in Did You Buy Next Sarpy? They are all able to transfer value peer to peer for fractions of a cent. Fractions of a cent in the transactions confirm in seconds, not minutes, not hours. Again, not to bash Bitcoin, but this is the reality. And for you to realize that when many of these new people start coming into the market, they will increasingly seek non Bitcoin cryptocurrencies. They want cryptos that are fast and cheap to move, to get on and off exchanges for trading and cryptos that offer more potential for monetary gains. You can fight this if you want, but this is the reality of how investors are going to act. It’s not just the peer to peer money niche either. That is open for disruption. Alternative assets and networks are going to divide a whole wide different range of services across a broad spectrum of use cases that Bitcoin will simply never address. Things like decentralized finance, non-fungible tokens, decentralized exchanging security tokens, governance, the data on and on and on down the list. All of these things are gonna be brought to us thanks to Alte coins, not to Bitcoin. Don’t believe the maximalists out there who are telling you that Bitcoin in some distant future, decades away will do everything. So don’t invest in outgoings, right? It’s crazy. Bitcoin won’t. And it doesn’t need to do these things. Bitcoin does what it does very well. It is digital gold, old coins. They’re going to do everything else. And investors are going to see this, especially newer investors coming to space. The lure of bigger gains and increased functionality is going to get a lot of investors in, too. Coins, the data already confirms it. Now, this question of watching it play out, I mean, let’s just see what the traditional asset world here for a minute. Not many people only invest in gold. Most people buy gold and bonds and Tesla and Amazon and Ford, etc., etc. The same applies to crypto investing. Sure, some people only buy Bitcoin. Some people only buy gold, too. But they are not the majority. They are a minority of investors. Now, the bitcoin having has passed. I’m going to work on bringing out some more alt coin-related content for you over the coming months, of course. But the old season is coming. There’s gonna be massive gains in the old coin market for a variety of reasons. Anyway, your question for today. Do you think that new investors are going to start piling into old coins and not Bitcoin as they enter the markets? And if so, is it because any of the reasons I discussed here today, or maybe you have another idea about why investors are going to be getting into all coins or if you disagree, let me know, Downbelow. Thank you so much. Watched today’s episode. Hope you’re having a frickin awesome day, wherever you are, whatever you’re doing out there in the wild, wild world. Thank you for popping in to spend 20 minutes with the crypto lurk talking about cryptocurrencies on the Internet. Long live the blockchain and be out sale next.

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