https://www.youtube.com/watch?v=8YzuJt6vIEk
in

BITCOIN IS BREAKING OUT! Should I Buy? What Price Will Bitcoin Be At The Halving? PREDICTION TIME!🔴🔵

VIDEO TRANSCRIPT

All right. Let’s get into this for the past twenty-five days. Bitcoin has been slowly grinding up. I know it didn’t seem like that many people thought the bitcoin price would drop lower. But Bitcoin is breaking to the upside. And it seems to me at this point like a three thousand dollar bitcoin, like a four thousand dollar bitcoin, maybe even like a five thousand dollar bitcoin price is a pipe dream at this point, as in those prices maybe will never happen again. So the question is, what will the price be at the having and going forward? Welcome back, everybody, to altcoin Daily, where of course, you subscribe for our daily videos on everything going on in cryptocurrency. Today, the Bitcoin having search term has just reached a new all-time high on Google Trends. I like that. The reason this is significant, though, is because this is the most aware that the bitcoin having has ever had. And no coins are searching for this because I would assume that most of these searches are coming from people who don’t know a lot about Bitcoin and maybe are looking to get in and find out, you know, what it’s all about. It seems to me that you and me and people who have been Hotaling for a long time, we’ve completely forgotten that the freak and having is 35 days away. This only happens twice in a decade. And with Bitcoin with the price right now being $7000 per bitcoin, the having is about to leave. Forty-five million dollars worth of current weekly demand for the new supply with nothing. Now, truth be told, the actual having date is usually a bit of an anticlimactic non-event as far as the price is concerned. In the past, the big bitcoin price moves usually happen before or after the halving. So if you’re looking for significant price increases in thirty-five days, probably won’t see it until maybe six to 12 months. But that’s the beauty of bitcoin. This thing is trending up. And if this continues, which I believe it will, people with a long term mindset are really going to benefit people who can actually hold holding bitcoin is a bet for the future that you believe that given enough time, people will wake up to the properties that bitcoin has, i.e. censorship, resistance, i.e. undebatable. You’re making a bet that people are going to buy into these properties. You’re betting that demand will increase because people will see that bitcoin is better money and since the supply flow keeps decreasing, either having this thing could turn out to be a really good investment. If you have the patience to treat it as such. So my price prediction for the having. And by the way, guys, take three seconds. Like the video, support the channel. Let’s get this video out there to as many people as possible. My price prediction for the having. Maybe around eight thousand dollars. You know, my price prediction is really that this thing continues to trend up because demand will increase and supply will decrease. And so sorry, I can’t get more specific than that. Eight thousand maybe by having builders. It’s really a long term game, but I’m curious to know what you think about this. I’ve talked for a while. I’m looking in the comments right now. Let’s see, you know, the people who comment. You guys are the real experts, right? Let’s see what you guys think. Bitcoin price predictions by the having. Now, I am acutely aware that there are people who aren’t as bullish as I am. There are a certain amount of people who don’t even believe that bitcoins bottom is in. And while nobody will really know until enough time passes, there are people who believe that bitcoin could go lower. To those people, I want to share this recent article with you. This is the argument as to why Bitcoin has bottomed. Has the crypto market bottomed? That’s the question that’s been on everybody’s minds over the past couple of weeks, ever since the March 12th capitulation event. Traders have been divided over this question, despite the uncertainty. Willie Wu, a prominent on-chain analyst, recently weighed in on this pressing debate, writing that two fundamental metrics are suggesting the bottom has been established. And I am I’m aware Willie Wu is not always right. He’s just reading the on-chain data and drawing conclusions. But let’s get into his opinion. Utilizing two indicators, Willie Wu explained that the way in which Bitcoin mining ecosystem is developing is indicating this market has bottomed in March. So two things. First, the hash ribbon’s moving averages of the hash rate have started to recover, which is a reliable bottom signal. The last time the hash ribbons looked similar as they do now was in December of twenty nineteen at the bottom of 6400. And in December of 2018, the bottom three thousand one hundred fifty was the first thing. So the hash ribbon’s looks similar to those points in Bitcoin’s history. The second thing is that the miner energy ratio, the ratio between Bitcoin’s market cap to its energy consumption is in the BI’s zone and briefly breaking into the extreme by zone during the March crash. The last time this ratio entered the extreme by zone was months before the previous having, the previous having prior to the 4000 percent rally to twenty thousand. And of course, that did take many months. And you know, he gets into this into, you know, his tweets right there. I just some of them off for you. Let’s get to something else. Other factors are flipping bullish, too. There are other factors suggesting the worst has passed for the cryptocurrency market. According to screenshots of crypto enabled retail brokerages based in the UK shared by trader Nick Battal, a majority of users of these platforms are leaning long on Bitcoin. In fact, for IAG dot com, they’re signalling that 78 percent of clients accounts are long on the cryptocurrency. Furthermore, Coinbase pro order book shows that there are more traders bidding. The foremost crypto than selling it with their existing nearly 24000 bitcoin worth of orders down to an order price of $2000 and just a mere 4000 worth of orders up to twelve thousand dollars. The fact is, there is such booming demand for bitcoin suggests it will be hard for sellers to push the cryptocurrency back to the three thousand eight hundred dollar lows. So further argument as to why it’s less likely will go down and for not going down or just going up. And this maybe is the most interesting in 35 days after the halving. And for the rest of Bitcoin’s life, you’re going to need a lot less money to just maintain a price point of seven thousand dollars for Bitcoin will be a lot easier to keep a price point of seven thousand dollars. So just for some history for the past four years to maintain or to maintain seven thousand dollar price points since October of 2017. Bitcoin must have had about 400 million new cash inflows every month for the last 2.5 years, assuming all trading is a zero-sum game. After the halving, we only need 200 million to keep a seven thousand dollar level. So if 400 million stays. What do you think is going to happen now? Despite all of this, caution is still advised. Even though most bearish people have turned long term bullish, those who go all-in in a speculative asset will get wrecked. I agree with this. And finally, let’s take a look at our bitcoin. The subreddit, the most popular subreddit for Bitcoin, wanted to point out a few things, number one. One of you posted our video about Mark Cuban and Mr Wonderful as somebody who wasn’t us. Posted this video on Reddit. And they’re getting a lot of upvotes on Reddit. So we salute you. If you take one of our really good videos and post it on Reddit or Twitter or what have you, a lot of times that stuff gets upvoted. So please, you know, that’s a good thing to do. Besides that, something else I wanted to show was I thought this was cool. Red Cross deployed a tent bought with Bitcoin donations. Check this out. Bitcoin donations, saving Italian lives and helping to protect first responders on the front line. Anonymous Bitcoin donations worldwide should be proud of this bitcoin against the pandemic. So, yeah, that’s good. You know, the beauty of Bitcoin. You can send money anywhere in the world. Nobody can stop you. And its network effect is the biggest highly liquid. You get that. And that is it for me today, my friends. My name is Aaron. I hope you got value in this video. We’ll see tomorrow. The Chinese government in Beijing, cryptocurrency. It’s a real thing. Keep going. I was young. Thank you to all, Lord. You’re a wealthy man. If you go to the Republic of China. Low point now. Yeah. His shine up. See, all the sunlight reflects the currency. Then don’t do it now. Well, Voltaren leading a betrayed will come in. Not between him. I’ll do it. I’m shy and no. I get the White House NTSA an old tap. We got those terrorists called. Keep the money in that balance. If you don’t study it peacefully, there are no laughs in here. It’s a risk for me too.

Report

Ledger Nano X - The secure hardware wallet

What do you think?

Comments

Leave a Reply

Leave a Reply

Loading…

0