Welcome back to Cryptozeras, i am George, we’re all George. So did the Christmas rally or santa rally start for bitcoin, it’s up four percent today and someone else thinks that it did start.
So I’m going to talk about. What’s going on with bitcoin also talk about three promising projects: l1 network protocols, these three – i have high hopes on I’m very bullish on them and that’s because there’s a lot going on for these three all coins, so i will discuss what they are so starting with Bitcoin is 48 700, so up nearly four percent. An entire market is rallying today.
Now i’ve been calling santa rally or christmas morality for quite some time since the beginning of december, and i do believe it’s right around the corner, quite frankly, because we don’t have that many days left right and today i saw this headline. Jim cramer also agrees with me at least with equities, not crypto, but today dallas up 500 points.
Equity market is doing very well today. Jim cramer still believes santa claus rally is going to start despite omicron cases and the fud out there right so to quote jim. If you bought today, you just held on even for six days, you made money almost every single year.
He added it is a short-term trade, although you then start getting into positive seasonality in january, because traditionally january is also a very positive bullish month for equities. So if equities market is going to do well for the next six days and also do well in january, well, that’s only going to help bitcoin right.
We have seen that the correlation between equities market and bitcoin somewhat correlated still times they’re, not, but for most part they are still kind of moving in tandem, although uh bitcoin tends to move very very, very fast, sometimes so it’s not just me. It’S not just me. Even jim cramer believes it’s right around the corner, but i’ve been bullish on bitcoin all year.
I told you guys to hold strong right, ignore the flood, ignore the volatility and there will be periods where bitcoin simply does not seem to want to move. It’Ll just do its thing. It may consolidate and we have seen it plenty of times in 2021. At 30, 000 at 40, 000 right and we’re hovering around that 47. 48 000 mark.
But i do have things to show you guys that indicate this could be it that a reversal, a bounce, a rally is right around the corner and it could be. It could be because of the santa rally.
So, let’s start out with this very first one. This is from matthew, highland, and this is according to three day rsi, and you can see that this goes back all the way to december of 2018.
When bitcoin fell down to 3 800, then we had a black swan event march of 2020, and then you can see that we had that 30 000 mark i talked about and where we are now and you look at it using a three-day rsi.
There is a support, trendline and guess what bitcoin just bounced right off of it and it’s looking like it wants to turn up so kind of shows you what may be around the corner right and something else – and this also looks very similar from tech dev, which Is you know finding a fractal pattern between 2020 and 2021, not only in bitcoin’s movement right also with rsi and also with macd, very, very similar right, so there’s a lot of things going on bitcoin.
Not only is it mimicking some of the previous drops that we have seen, but also have been focusing on the fundamentals and they keep getting better each and every day adoption is growing. The number of bitcoins falling from the exchanges is also growing.
The number of the liquid supply is growing right, so bitcoin is definitely go continue on and whether it’s due to santa rally or not, it will continue forward so stay strong and, most importantly, have patience, and it’s not just with bitcoin too. So there’s a lot of ta evolving around the second biggest crypto ethereum.
So this is one where ethereum just broke above the 100 sma average and when it tends to do that, it tends to really start moving. So we have ethereum.
That is also doing very well. Today and here’s another fractal pattern about ethereum, and this is using fibonacci levels, and this is comparing 2017 to right now: 2017. We know that it had explosive movement, explosive movement from about 400 dollars, shooting up to about 800, something and that’s within a very, very, very short time frame.
And if you look at ethereum’s movement now, it’s looking very similar and if it hits that same fibonacci level of 1.618 well, that means ethereum could be heading to 8 000 as a local top. So there you go a lot of a lot of exciting things.
To look forward to right all right now, let’s get into these three altcoins three l ones that have been doing very, very well. In fact, one of them just formed a new all-time high, despite the fact that the the market itself is still down, but they continue to go up now.
I’M gon na throw one more all coin in front of the three and that’s harmony, so you go get four l ones here all right, but take a look at this headline. This gaming, all coin, built on harmony, rallies nearly a hundred percent.
In a matter of days, while bitcoin ethereum remains stagnant, do you know which project this is well? This is referring to d5 kingdoms, which is one of the very first play to earn and have t games on harmony, and it continues to do well and when it does well, harmony does well. Harmony has been doing very well recently hasn’t formed a new high.
Yet but it has been recovering much faster than some of its peers and why this is relevant because defy kingdoms is also opening up a brand new realm on the l1 avalanche and avalanche is the one i want to talk about, one of the big ones.
I want to talk about because they have been doing well too. If you look at cmc avalanche is now sitting at number 10 right under terra, and you can see the last seven days it’s up 45 and today it’s up about 13. So not only is its ecosystem growing with platon games like defy kingdom, but also you have a lot of other things. For example, like this big go, is supporting avalanche as institutional interest grows so now, there’s custody service and bitco owns a couple exchanges and avalanches.
Of course, available on those and avalanche has been opening up on other exchanges as well, so avalanche is definitely growing. The tvl total value locked from its d5 projects is also growing, so it’s definitely one to pay attention to. If you don’t have it already now.
The second one i want to talk about is, of course, terra which just leapfrogged avalanche and that’s sitting at number nine. You could see same kind of movement today, 13 and also 45 for the last seven days and tara is on an absolute terror.
It’S at 86 and it has formed another new high, and this is project. I’Ve told you guys for a long time, one that tends to get overlooked by many, but take a look at this headline. Its tvl is now higher than binance smart chain, which makes it second behind ethereum.
They have many many d5 apps they’re getting involved with metaversus and nfts and play to earn games. That’S all there, and recently they have bridges, that’s being built too.
So terra is native to cosmo’s ecosystem, so there’s a bridge of cosmos already, but you could see that any swap which now rebranded the multi-chain after raising 60 million dollars by binance. Well. This also has a bridge to terra to many other l1s such as phantom right.
So terra is having its ecosystem brought in and why this is more important for terra than some of these. Other l1 is because they’re native algorithmic stablecoin tara, usd the more terror usd that’s being used on its own chain and across other chains.
The more luna tokens needs to be burned, and that is why terra is doing so well because there’s so much burning at this point and as usage grows, that’s why tbl’s growing the more uh the more luna is gon na be burned. So number two is tara. I definitely think their goal continue on so, if you’re not paying attention, you need to do so and lastly, i want to talk about polygon. Polygon is doing very, very well. As expected, polygon went through a very, very stagnant period.
I told you guys to stay stay patient right, because polygon just there’s no way that it can’t be moving. Finally, it’s getting all the tension now, because polygon is just blowing up and you can see this headline may end up being ethereum’s saving grace and the reason being so many projects are turning to polygon to scale.
Polygon is essentially ethereum that can scale they even recently introduced uh proposal 1559 to introduce coin burning, which will make polygon deflationary going forward right, but because polygon is evm compatible and it supports solidity, uh dap makers are coming left and right, especially nft marketplaces, because you Don’T have to worry about gas fees, you don’t have to worry about slow, uh, slowness of the network.
You don’t have to worry about congestion, but there’s many other things like, for example, reddit just created a new initiative with polygon 200 million initiative to get involved with web 3, which of course involves games and define everything else. Social media right and polygon just acquired a predictable lab 500 million deal for zk scaling because they want to continue to lead and they want to introduce privacy features too so polygon and that’s not their.
That’S that’s the second project they they purchased. That involves vk scaling. They purchased another one for about 250 million, so that’s like 750 million and they also have their own one billion dollar fund.
So polygon is definitely on a roll, and it’s definitely one that i believe everyone should pay attention to and hold a little bit of, because i believe it’s go go much higher than where it is all right, guys, that’s pretty much it. I just want to give you guys a quick rundown of, what’s going on with bitcoin looks like that.
Santa rally may have started so strap on because we could be seeing some explosive movements soon and also don’t miss out on these three or four l ones, because there’s just a lot of things going on with them right now.
All right guys smash it like subscribe to the channel and stay tuned for my future. Video take care, bye,