Today in crypto, bitcoin continues to battle to get over ten thousand dollars. Can BTC make a definitive break this month or will it keep getting rejected at this key level? The USA could soon control 25 percent of the Bitcoin hash rate. Another massive scam that’s a cool billion dollars in crypto from unsuspecting victims. And of course, the Federal Reserve, a.k.a. Bitcoins marketing department, makes the case once again why you need to buy Bitcoin, the crypto LARC. This is resubscribe of the hottest and all of the latest happening out there in the wild, wild land of crypto. So let’s go ahead and start off today with the charts. Bitcoin is once again battling to try and close over ten thousand dollars. Now, we just had our weekly close with a strong green candle, but it has once again failed to close above that descending line of resistance that has held the price down for nearly two years. But considering how close we are, it feels like another make or break time is shaping up for Bitcoin. We keep getting pushed further and further into a corner filled with all of these critical points and key lines, resistance and indicators that are showing bullish momentum all coming together at the same time. Very exciting. If Bitcoin gets a strong rejection here, then watch for support to hold on the upward trend line on the daily. Which brings us down to around ninety two hundred dollars. But increasingly I get the feeling that ten thousand dollars is going to break here in the near future, potentially in the next week or two. I mean, just look at this, just text book, beautiful break retest and bounce off of the 200 day moving average. Now, in the event that we do actually see the price come back down to the 200 day moving average, you buy that dip, guys, you buy that dip. That is a great time to get in if we do see that retest happen once again. Also, we are now only days away from seeing a new golden cross confirm for Bitcoin. Obviously got to see it confirmed first. But should this happen, then it will probably take place around Wednesday unless the market, of course, turns on us in the next few hours. Now, if this happens, it could give us the momentum that we do need to have a really convincing break above ten thousand dollars. And I do mean convincing. I’m not talking about just a little peak above 10000 or five minutes or even just for a few hours, but actually closing multiple daily candles above ten thousand dollars after which of course, ten thousand five hundred dollars. That is the line to break. And if we can crack past that, then hold on to your butts, because things could get crazy real, real fast. And I know the last golden cross, it turned out to be a fake out. Everybody was disappointed by that. The whole Mexican beer thing really tanked the markets in a quite expect way. But I feel like what we are seeing here could potentially play out like what we saw happen back in 2015. There was a fake out. So a fake out golden cross, followed by a big drop, followed by a second golden cross. Only weeks later, this golden cross, though, was so impactful that the price of Bitcoin not fell below the 200 day moving average again until April. Twenty eighteen, a two and a half year run above the 200 day moving average. Essentially, that was just a massive bull run in that second golden cross after the first fake out was what kicked it off. And in that time, Bitcoin went up by eight thousand percent in two years time. I think we could actually looking back on this golden cross at the price of Bitcoin right now and just thinking to ourselves, wow, I’m damn glad that I bought Bitcoin all the way back then. Anyway, I think we do stand to have a really good chance right now of having an actual quite strong and convincing break above ten thousand dollars this month, a break that actually holds above ten thousand dollars. So keep an eye out for it. A big thank you to prime SBT for sponsoring today’s episode. Prime SBT is an excellent platform for trading a wide range of different assets. You can trade the top cryptos as well as Forex. Like the British pound or the euro, commodities like oil and even stock indexes like the S&P 500 all tradable against Bitcoin. Now, all of these markets are also trading with generous leverage and prime expertise does not require any KYC. So you can trade on this platform with freedom. Now, look. Trading is not for everyone. And private expertise is definitely only for advanced traders who. Then how to properly manage their risk? If that is you, then there is a link down below where you can start trading today. OK. So the first story of the day, the Bitcoin mining farm called Layer One, which is backed by Peter Teil, has stated that they want to acquire 25 percent of the Bitcoin hash rate by the end of 2021. That’s a big claim, without a doubt. It would definitely be nice to see, obviously, more distribution in terms of the geographical distribution of the hash rate moving away from China. And considering what a big part of the market that U.S. buyers are, it has actually always been a bit disappointing for me to see such small percentage of mining actually happens in the USA. Now, if they do achieve their goal, then that would make the USA number two behind China in terms of being a player in the Bitcoin mining game. Now, normally, this kind of talk is not super noteworthy. We’re going to get a lot of hash rate will. Great. But I actually think that layer one can pull this off. And it’s not just going to be talk because layer one, unlike most mining operations, they’re actually making their own rigs, which means that they do not depend on Bit Maine to get their supplies. Very interesting. The race to mine last two point six million Bitcoin is going to be fierce. The Bitcoin mining arms race is definitely heating up, especially this is going to be big during the twenty twenties. While the block reward is still above one bitcoin per block. Gotta get them all. You gotta get them all. Next up, another massive Chinese Ponzi scheme has, of course, come crumbling down with a series of arrests, including one of the masterminds of the previous plus tokin scam that has been responsible for many of the market dumps that we’ve seen over the last year. Plus, Tolkan ended up getting around 200000 Bitcoin in total. Now, this scheme called Woa Tokin, took in around a billion dollars where the crypto 46000 Bitcoin, two million a theory M three under thousand light going more than 50000 Bitcoin cash and a little more than half a million iOS. There are nearly 750000 people who fell victim to this scam, which of course, just the typical. There is a magical algorithmic trading bot that’s gonna make you X percent of money per day. Smoke and mirrors, smoke mirrors. That’s it. Please be careful out there, everyone. There is just such an insane amount of scamming going on in crypto. If someone is promising you two percent a day or something, that’s a scam. Please, please be careful. It’s crazy out there. These guys will go to the ends of the earth to try and get your money from you. So don’t let them do it. Now, it’s not clear at this time. The authorities also got a hold of the keys to the crypto wallets. And if so, what will be done with those crypto wallets next? Or if the scammers still have them, some scammers anyway. Anyway, what the fate of this cryptocurrency is going to be not clear yet, but definitely keep you up today as more information comes in. Next up, Paul Singer’s Elliott Management Corp. spoke about gold in a letter to investors. He said it is, well, the most undervalued, investable assets existing today. Hedge funds are anticipating that the precious metal will continue climbing higher in the days and weeks ahead, insisting that the debasement of money that we see happening right now by central banks could lead gold to trade at literally multiples of its current price, which we’re talking trillions and trillions of dollars here. Gold’s already at nine trillion dollars for market cap multiples. That? S local man may be gold investors. They will finally have their day in the sun. But anyway, that’s not why I bring this up. I bring this up because gold and bitcoin, they had the same awesome properties, except the Bitcoin in many respects is better. Bitcoin is easily divisible. Bitcoin can be sent anywhere in the world within minutes for a super low cost. We know for absolute certain that there will never be more than twenty one million bitcoin. And of course, Bitcoin, unlike gold, is not yet a mature asset. Gold’s got a nine trillion dollar market cap bitcoins under 200 billion. A lot of room for growth. There is not just hedge funds that are betting big on gold right now. It’s also countries as they all rush to get real hard assets in their hands. Russia‘s central bank has been Mad’s stacking gold for last two years. In fact, in just the month of April, the reserves grew by over six billion dollars, or around five percent growth for their overall gold reserves, reaching a value equivalent of one hand 126 billion dollars, or more than 20 percent of the bank’s total reserves. Putin knows. He knows now. Now he just needs to get Russia onto the Bitcoin train. Come on, Vlad. Do it, man. Do it. Market by 10 billion dollars in Bitcoin, man. Boom. Haubert. And finally, Fed Chairman Jerome Powell was on 60 Minutes and look, in so many ways, this is like the perfect ad for Bitcoin. These guys really serious, wearing their suits and stuff. But if he just finished up what he said in these clips that I want to show you by saying buy bitcoin and be perfect. Anyway, let’s have a listen. Well, there’s a lot more we can do. We’re not out of ammunition by a long shot. Now, there’s there’s really no limit to what we can do with these lending programs that we have. Fair to say you simply flooded the system with money. Yes, we did. That’s another way to think about it. We did. Where does it come from? Do you just printed? Reprinted digitally, so we you know, we as a central bank, we have the ability to create money. So just to recap there, the Fed is far from out of ammunition. There is no limit to the lending that’s worrying. That really, really is. The Fed is like a kid playing a video game with the cheat codes on. Except that this is not a video game. This is the real world economy. And these monetary policies, they can crush real people in the real world because when you flood the system with money, you’re still unleashing a flood. And there are always devastating consequences from floods. And by the way, isn’t it just insane? Just thought think about that. They just printed digitally, just creating money out of thin air. That’s a magic trick. And some people still think that Bitcoin is a scam. Literally, this do just sits down at a computer. Tap, tap, tap, tap, tap. Boom. Three trillion dollars just like that. Blammo, new money is made. It’s crazy, man. And what is the effect of this money printing? Well, if you had a thousand dollars sitting in a savings account earning, you know, zero point zero one percent interest. So basically nothing. And that’s relatively typical these days, unfortunately. Anyway, that bank, that thousand dollars sits in the bank from, let’s say, 2010 until today. And thanks to inflation and all the central bank trickery, your thousand dollars in the last 10 years would have lost nearly 20 percent of its purchasing power. So you would need to now have 12 hundred dollars to have the same purchasing power that your thousand dollars had back in twenty ten. Meanwhile, Bitcoin’s gone up by nine million percent in the same time by the end of this decade. How bad will your dollar losses be if you’re sitting in a lot of dollars, a thousand dollars sitting in a bank account today, it might lose 30 or 40 percent of its purchasing power over the next 10 years. Just look at the central banks are doing right now. That’s going to have serious long term impacts. And if negative rates come into play also, then on top of the inflation, you’re also going to lose one to two percent a year out of your account, just taken back by the government, two or three percent annual inflation, two percent negative rates. Now, these numbers, they may not sound like a lot. Oh, it’s only a couple percent a year. But those effects they can compound very, very quickly over 10 years. It’s insane numbers we’re talking about over a decade. Wowsers. Anyway, what Powell saying here is nothing new. But it’s just good to hear this stuff as a reminder about the insanity of the whole central banking system and just, wow, it’s crazy. Anyway, aside from slowly robbing you by a death of a thousand cuts over many years, this also creates a systemic debt issue that as a long term threat to the entire global economy, since most countries are highly exposed to U.S. debt, U.S. has been spending more than it’s been taking in for some time. And. That’s something we’re going to have to deal with, the time to do that is when the economy is strong. When unemployment is low. When economic activity is high. That’s when you deal with that problem. This is not the time to prioritize that concern. We have the ability to borrow at low rates. We have the ability to service that debt. And I would say this is the time when we can use that strength. To our longer run benefit, the U.S. debt. It has absolutely spiraled out of control, adding another trillion dollars trillion dollars, the mind boggling amount of money just in the last month. Now it’s over 25 trillion when the economy is good. Right. They’re going to pay the debt down. They never do that. The economy is just good. Never did it. He is lying. When the crisis finishes, there’ll be more debt and zero ambition to actually pay that debt down in. The servicing of that debt will take way more taxpayer money than before the crisis is now. There’s more debt. The government is creating generations of debt. Slaves either needing to repay an unpayable debt with all the tax revenue in the United States going to pay the interest on the debt. Nothing for, you know, schools and the Rosana stuff just servicing the debt or the other option, a potential U.S. default at some point in the future. Look, both are terrible options or just keep kicking the can down the road. More inflation, more insanity, no matter what you take, it all leads to the ruin of the dollar, whether it be through insane inflation or a U.S. default or debt that just eats the country like a cancer. The dollar will not end well. These are incredibly dangerous games being played right now by these central banks. And this is why gold and why bitcoin will continue to do well. By the way, I finally bought my first ounce of gold. Well, digital gold, actually. I bought an ounce of Paxos gold, so I have an ounce of gold now sitting on the block chain in my wall. So that’s pretty cool. Actually have a gold video coming out for you soon as well. So publicly throughout the weekend. But anyway, gold and bitcoin, they share a very similar trajectory. Central banks there out of control in Bitcoin. It is the gold of the digital era. Get as much of it as you can before it takes off to the moon because it’s going to stack Satz and chill, my friends. Anyway, your question for today. Do you think that a good market for gold is going to mean a good market for Bitcoin as well? And do you personally own gold? If so, how are you holding your gold you have on the block chain like my Paksas Gold Ounce. Do you have paper gold? Maybe you’re doing gold mining stocks or perhaps just have the real deal, yellow stuff sitting under your bed or something like that anyway. Let me know down below in the comments section. Thank you so much. Watching today’s video. Quick reminder, your frickin awesome. So thank you so, so much for sport and child. Seriously, it means everything to me. So thank you so, so much for your continued support. Of course, if he didn’t join that video, whack that thumbs up button and subscribe to the channel. If you knew around here. Long live block, Jane. And peace out the next time.