14.7 C
London
Tuesday, October 4, 2022

BIG EVENT FOR BITCOIN THIS WEEK

Welcome back to crypto zara’s, i am george, we’re all george, so it is sunday happy sunday and this new week is about to start. So i’m going to talk about bitcoin’s path. This week there are some economical factors at play. There’S also one big conference that can affect bitcoin, so, let’s discuss what they are thanks for tuning in, as always smash up the like subscribe to the channel two streams almost every day, 11 30 and 8 30 p.m.

Central standard time so make sure you hit that notification bell and follow me on twitter, facebook, instagram and check out all the latest news article and guides at cryptozeros.com. Welcome. Welcome! Welcome!

Hopefully you guys are looking forward to this new week, got several things. Several factors at play, so, let’s get to it uh bitcoin – is at 43 100, so kind of still hovering around this 40. Something thousand mark, although i got something good to show you guys about bitcoin’s consolidation around this period. However, uh, if you take a look at coin market cap today, overall global market cap is still up slightly about half percent and you can see that cardano’s up double digits, including my video that i did last night. I told you guys several big daps about to utilize smart contracts, so it’s very positive for cardano, but also scrolling down you can see.

There are several other projects that are in the green, especially take a look at phantom another one of my favorites up 12 today, and that is enormous, quite enormous, they’re about to become a big cap, also another one i mentioned being undervalued as cosmos, starting to pick Up traction: you can see the last 30 days up a hundred percent, including phantom two last 30 days up 130. So, for some of you, guys that think that crypto winter is somehow here or a bear market is somehow here realize that many all coins, including phantom and castles, both formed a new all-time high, and this is just the beginning too. Take a look near protocol also. Did a hundred something percent in the last 30 days right and many others are about to follow, so it’s not as bad as some may indicate all right. So, let’s talk about this week, what’s going on this week?

...

Well, looking at the economic calendar, there are two things or actually three things that may affect the equities market, which then may affect bitcoin. Well, if you look at well tomorrow’s off, there’s, there’s nothing being reported. Tomorrow’S martin luther junior day, uh martha luhr king junior day so uh the equity market is off. Schools are off but come tuesday. This is an important one.

The nihb home builders index – and this is go measure, basically how the new homes are and basically how much demand there is for new homes. So this plays into you know one of those things that judges, how how robust or how strong the economy is right. So this is one of them that we need to look forward to also on thursday, there’s a couple other ones existing home sales, which is important, because homes are really really hot right now, so is it still hot, or is it starting to cool off, and also This uh jobless claims which will measure how how many people are out of work right now. So there’s three things that’s coming up this week and they may or may not cause some volatility with equities market. If these come in at expected, you know uh forecast that nothing’s going to happen, but if any one of these is really off right um, then it’s probably going to have something some kind of effect with, of course, the traders which right now are very reactive and And uh, basically making a lot of a lot of uh a lot of irrational trades, so we’ll see we’ll see now.

Besides these also in terms of companies that are reporting. Last week we had banks that reported very, very well had huge earnings, yet they tanked and this week we’re going to have more of financial companies and banks like goldman’s goldman sachs, charles schwab, bank of new york mellon. But you also have some other companies, like png. United health, morgan stanley, united airlines, netflix right so some uh, some of these other big names and we’ll see how they did in q4. But, more importantly, what everyone is looking for is what are they forecasting for q1 and the rest of this year, especially when inflation is on everyone’s minds?

Not only inflation, but i read something this morning about wages also being on the rise and how that’s affecting the bottom line too. So there’s a lot of things at play coming up this week, but besides all this economic stuff, there is one other thing that’s directly correlated to bitcoin, and that is this remember all the esg fud that we had back in 2021. A lot of claims that bitcoin mining took more energy than some countries right and how it was just bad for an environment and bitcoin needs to be greener and all that stuff. Well, guess what there is going to be uh, there’s going to be a hearing about energy usage and environmental impact of bitcoin, and that will conduct this week january 20th. So will this also have an impact on bitcoin?

We know that ever since that last meeting china kicked out all the miners right and most of the miners in china were using uh coal, energy and some other some other forms of. I guess what you consider dirty energy, but since then a lot of them have moved elsewhere and the ones in north america are all basically trying to use renewable energy and several other places around the world, also looking at primarily just using renewable energy for bitcoin mining. So things may have changed vastly within the last year, so we will see, but this is also coming up this week. So i guess we’ll just have to wait and see what these congress men and women decide. We know there are some friends within congress, but there’s also some enemies, and maybe they just cancel each other out.

Who knows who knows? Maybe maybe all right? What are some other news? Well, as for bitcoin, in terms of price action, we know that it’s kind of stagnant, what’s also stagnant, is the fear and the fear level is still an extreme fear, we’re still at 21.

It seems like we can’t get out of this extreme fear mode, which i don’t you know i don’t get.

You know, fear, usually just kind of dies down after a while, but no right now it’s still fearful and you can see the clump over here of extreme fear starting to add up and i’ve told you guys whenever there’s a clump of extreme fear, guess what happens. Usually that’s when the market turns around right now. Here’S another example that kind of correlates with that. This is measuring realized, profit versus loss ratio and whatever there’s extreme fear, and whenever there is a big correction, that ratio tends to go to zero and when there’s zero, you can see on the bottom. You can see the circled uh and the one on the right is is cut off of my camera, but you get the point whatever it is at zero for a long time and tends to indicate that bitcoin’s about to bounce, just like the fear index is almost Identical right so uh, good things, good things, look like they’re right around the horizon for bitcoin.

We just have to be more patient all right, there’s uh other things too. This is uh. This is another graph, that’s measuring realized profit and if you look at uh, if basically you’re charting this metric out, you’ll see that we tend to go through these up and downs right during our cycles and the current cycle, we are on we’re actually towards the end Of this channel, which actually indicates this is a pretty good reversal point so again kind of correlating with the other two things. I’Ve shown you guys right. So any one of these you take with a grain of salt, but when you start adding all of them together.

That’S when you realize it’s forming a pattern: um, okay, just a few other things, here’s another one that talks about. Why cough accumulation – and this became popular in 2021. Some traders realize that hey, maybe bitcoin is being manipulated. Utilizing why cough accumulation? Because the big boys simply want to accumulate more the whole point of why cough accumulation, as the name indicates, is because the big boys want to accumulate, and we know they have been because the number address is above.

A thousand bitcoin keeps going up. The number of liquid supply keeps going up. The number of reserves on the exchanges keeps going down well, someone’s accumulating, if not retail, who well probably the big boys and they’re using why cough could be at least one theory. And then you look at what happened when bitcoin fell down to 28 000. This was back in june and july.

You look at that pattern versus our pattern. Now it’s not identical, but it’s looking pretty similar, including the drop from the top too right. So we’re kind of going through that right now and if we do follow it, we’ll probably have to wait a little bit longer until february before things start turning up and we go back to our previous high and we break into a new high. That’S if we are following weinkoff, but why i’m showing you? This is because the reason there’s a name for this is because one guy decided he had enough and he wanted to reveal basically what the whales are doing, and this has been done with stocks and equities forever.

But now it may be done with bitcoin right, but the point of this is is because they want to accumulate more, not less they’re, not manipulating the market for no reason, they’re, manipulating to drive retail out while they buy at low prices right. That’S the important thing. That is why i tell you guys to buy low, buy when there’s a dip right and have patience, have patience, because that’s what these big guys are doing all right, that’s pretty much it uh! Lastly, i just saw this: while browsing for articles walmart is quietly preparing to enter the metaverse, so walmart is probably the last company. You would think that really cares about the metaverse, but according to several trademark applications it seems like they’re, very, very serious about it.

Not only about entering the metaverse but coming out their own crypto and coming out their own blockchain, that’s how serious they are. They want to dive in completely maybe come out with a walmart coin. All right come out their own collection of nfts and they may be coming up with virtual walmarts in decentraland or sandbox or other metaverses, and who knows what you can do within them right, so they seem to be very, very, very uh, um ambitious at this point. Let’S just say that about crypto, so pretty interesting, pretty interesting, all right, that’s pretty much it as for this week, like i said we got some economic news to look forward to monday is off so there’s that probably a lighter volume week, but we do have those Economic news – and we do have that one hearing about the environmental impact about bitcoin that we have to get through, but outside of that like before bitcoin, is still stuck within this range. But a lot of metrics show it’s just a matter of time before we turn right back around all right, that’s it!

Let’S do some q, a stefan, says jordan. I was thinking about taking one-fourth of my crypto cell and putting d5 kingdom. What do you think? I said: that’s pretty risky, that’s pretty risky! You got to realize with d5 kingdoms or with any sting um.

You have to keep in mind that the rewarded token still has fluctuations can still go up or down right, so you’re taking two risks. There number one you’re selling off a quarter of your crypto, which you know what could be rebounding in the near future, so you may be losing that potential and the second potential. The second thing is, if you put in device kingdoms and you’re staking, even though the rewards are so good, the apr is so good. If joule doesn’t outperform the the fourth of the crypto right, then you’re kind of losing out or it underperforms then you’re losing out too. So i think that’s a little bit too risky.

If you want to dab in you, put some in that’s fine but to sell out that much that’s a little risky all right, um scrolling up making sure there can a lot of a lot of ada comments, man. So it’s like half the chat is about hating, hater, aydah and half the chat is about liking it and, by the way, just to make a comment about cardano. I don’t know if you guys noticed it flipped above solana. Again yesterday was at number seven, so it flipped not only above us dc but flipped above solana and now sitting at number five, so it reclaimed this number five position. Can it continue on with smart contracts with the very first amm sunday swap that’s about to turn on this week?

Let’S see, let’s see if they can, if that’s a success and they can build upon it, um good things, good things for cardano mitch tyler. I appreciate it. Thank you. What about death cross nick ass death cross can be a very bullish thing. Last time we had a death cross when bitcoin hit 30 000, and we shortly turn around and continue upward, so death cross is a lagging indicator, does not mean that it’s bearish there’s been times where it’s been very bullish because it’s a lagging indicator.

Everything all the all the downwards movement could be over. So even though it indicates a death cross, we could be flipping to the upside. So last time we had a death cross. That’S exactly what happened! A lot of people talking about aydah still a lot of ada debate.

It’S like half the chance about aydah uh. Do you believe uh al goran is undervalued due to paypal connection? I don’t know if they’re undervalued, but it does show they’re. Definitely one of the bigger l ones: that’s why paypal is talking to them, but as for their position, they’re about a big cap, so i think they’re right around where they should be. They don’t have the most robust, defy ecosystem.

So i think that will help them, but they are definitely making traction um. But you know someone like cosmos, i feel undervalued because uh they have some d5, but it’s actually very, very low, very low. So they have a massive potential if there’s more d5 project to come aboard, but phantom does have a huge d5 ecosystem. That’S why their tvl is growing by leaps and bound every single day. So i think that’s why they’re making big moves right now, um, where i miss her.

Ah um, all right. I’M sorry, i believe in crypto, but virtual land is fake and going too far, i don’t think it’s going too far. It’S just the extension. What exists right now: um, there’s virtual collectibles and there’s virtual currency. Why can’t there be virtual land, it’s just the extension of what’s what’s being built right now, if you could accept that, there’s virtual currency um, why can’t you accept this virtual land?

It doesn’t mean that you have to believe in it and just fall more into it, but you know that that’s my argument to that um have i checked out alpha impact and no never heard of it. Sorry, uh football games, okay, eddie hill, says talk about v chain news. Well, there is some i mean we. I’Ve already talked about it right now. It’S basically just about building on the d5.

They got their vusd, which is really good, but we need more. We need more amms and we need more of everything. So i know that. There’S several games, that’s being built right now and of course they do have nft marketplaces at least a few, but not that many like vim world is still one of the bigger ones and then you have like v punks, but there’s there needs to be more right. So v chain is, i think, they’re definitely taking serious in 2022 in terms of getting d5 projects out multivac over ada, i’m i’m gon na say no to that rk thoughts on feds raising interest rates.

I i’ve been talking about that all of last week, rk um. It’S going to depend, i mean basically, i think everyone’s under assumption that in march, that’s when it will happen right, there’s going to be a fed meeting two weeks from now and they will decide, but they need all the data to make them decide. That’S why some of the economic stuff that i’ve been talking about the reports that’s coming out, that’s measuring how robust the economy is and these earning reports they kind of tell a story right, because the whole thing about raising rates and reducing the balance sheet is based On assumption that the economy is strong and they need to take action to reduce the inflation. But if it turns out the economy is not as strong as they think. They may allow inflation to continue to rise up more um, and then they curb that a little bit later right.

So i think going from now uh this next week and what has already come out for previous weeks. I think it’s pretty important and then we’ll find out, because the next fomc meeting is is like the end of january. So then they’ll announce what what they plan on doing basil. I already shared my thoughts you’re gon na have to rewind. I did cover that uh tcap price packed a total market cap.

I’Ve seen something like that before completely useless. In my opinion, no need for that um update on chromia. I have no update on them. If, if my neighbor alice is doing good, it’s probably gon na help chromia, it’s just a it’s a relational. They call themselves a relational blockchain, but it’s a platform.

So i think they have. You know my neighbor alice and they have a few other dapps, but if they do well, then it will do well, but i have not been keeping up with them all right. Let me make sure thoughts on moses take over taking uh pancakes market cap. I mean it could happen. Osmosis, i believe, is the biggest dax on cosmos right, but um there needs to be more uh.

I think the other one is immerses. I think, but there’s there’s basically like two there’s, probably a few other smaller ones. I’Ve never heard of but um it’s a step in the right direction, but they definitely need more and it makes sense because they’re all about ibc and they have a ton of chains within the cosmos ecosystem. So you can get all that bundled together and create the ultimate decks and uh hasn’t happened yet, but probably being worked on right now, all right guys, i’m gon na, let you guys go overall. You know, bitcoin is kind of boring kind of steady.

You know consolidating still, but this week uh we may see some movement good or bad. The economic calendar is going to reveal a few things this week right um and they will be telling sign of how good their economy actually is, and we do have that congressional meeting about environmental impact about bitcoin. So we may get some volatility this week. However, we know that uh bitcoin bitcoin is the one to stick with right: you’re, not going to get anything better as a store value. You’Re not gon na get anything better as a better hedge against inflation and all the metrics are indicating that we will get a bounce and reversal soon, so we just have to stay patient, but in the meantime, in the meantime, a lot of these all coins.

A lot of these l1s continue to go up and continue to form new highs. Yes, a lot of all coins are forming new highs as we speak, but there are many that haven’t when they’re starting to come up and you can still buy them at a discount. So take advantage all right, guys smash the like subscribe to the channel i’ll, see you guys tonight. 8 30 p.m.

Central standard time, alright, take care, bye,

Related Articles

Stay Connected

22,878FansLike
3,510FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles