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Tuesday, December 6, 2022

Crypto Market is About to MOON NEXT MONTH

All right welcome back everybody to altcoin daily, my name’s Austin in today’s video. I want to share with you undeniable proof that this crypto market bull run is not over the mainstream. Media won’t share with you charts like this, but i will this channel will and not just bullish data but bearish data as well. So you have the full picture, so you can make the best decision, for you we’ll also talk about the metaverse as well as top altcoins. Making news so check the timestamps down below in the video description and if you’re interested in making money with cryptocurrency click subscribe.

Right now we drop a video every single day, demystifying this cryptocurrency market, let’s jump in starting with what are the bitcoin miners doing, because BTC miners who have been in the space for a long long time, usually have a pretty good finger on the pulse of what Is happening in this market and as of today, the data is clear that btc miners aren’t selling bitcoin miners. Unspent supply is currently sitting at just 500 bitcoin below its all-time high, meaning these coins that are issued to miners as a reward for solving a block have never been spent on chain so once they mine them into existence, they’re choosing not to sell they’re choosing to Hold in fact, miners started hotline significantly more btc since march 2020, the pandemic crash and have not sold, except for one instance since so this is a super, strong, fundamental indicator and, let’s just look at the data, the orange is the miner’s unspent supply and the gray Is bitcoin’s price action and we can see starting in march 2020, the pandemic crash, even though price action was consolidating, there’s a lot of fear in the market. Bitcoin miners started to accumulate heavy, they knew something they knew potentially where the market was headed and right now, where we stand today, we are just 500 BTC below the all-time high of miners accumulating and by the way, we cannot only use this metric to understand. If slash y bitcoin is headed in a bullish direction in a bullish trend, we can also use this to help understand if bitcoin’s about to enter a bearish trend about nine months ago. Around march may 2020.

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2021. Excuse me 2021, when bitcoin topped out the first time around a 65 000 BTC. It was months earlier that the miners started to sell into that price rise again. They had their finger on the pulse. They were understanding for some reason that maybe bitcoin was getting a little overvalued and they started to sell in as the bitcoin price continued to climb higher right now, even though the price is dipping, the miners are still accumulating all right.

I, like it, give me your thoughts down below in the video comment section seriously. How much credence do you put into this minor activity comment down below and next up since we’ve talked about minor activity, let’s now take a look at what is happening on chain and use bitcoin’s nvts to see if the bitcoin network is overvalued or undervalued, based on On chain activity, nvts is a bit of a granddaddy as far as on-chain indicators go, but it still works. This is from willy woo. It doesn’t signal oversold very often, but that’s exactly what the signal is indicating now and for perspective. The last time we saw something like this, where bitcoin’s nvts signaled, that the network as a whole was.

This undervalued was once earlier this summer, where we flash crashed to under a 30 000 btc people were screaming that bitcoin was headed lower, but the on-chain data was telling us that the network was undervalued. The time we saw before that was during the march 2020 pandemic crash again, people were screaming bitcoins headed lower, but in retrospect a great time to buy. So i love this a very strong, fundamental indicator and just to clue everybody in what exactly is bitcoin’s nvt signal. Well, it measures the network value, basically meaning the market cap. How much the bitcoin network is valued at over what activity is actually happening on chain?

A high nvt signal or uptrend indicates that investors are pricing bitcoin a little high at a premium as the market cap growth has sort of outpaced. The actual activity happening on chain high nvt signal values have historically coincided with market tops, as opposed to low nvt signals or downtrends. This indicates that investors are pricing bitcoin at a discount, as the on-chain activity is outpacing. The market cap growth, low nvt signal values have historically coincided with market bottoms. I hope that was clear and, as we can see right now, we are at an extremely low bitcoin nvt signal.

I will keep my eye on this. I will keep you updated and next up that does bring us to the next obvious question that if the on-chain fundamentals are so bullish, why is price still consolidating so bearish? Well, bitcoin continues to consolidate as a macro. Uncertainty creates weakness across global markets. So it’s not just cryptocurrency, but there is fear, uncertainty and doubt across all markets.

Right now, comparing bitcoin’s price performance to the s p, 500 and gold all are declining in unison, just something to be mindful of with these ongoing virus variance scares. So, like i said earlier, please please give me your thoughts on all of this down below in the video comment section. In my opinion, when we see bearish price action due to fear uncertainty and doubt yet bullish on chain fundamentals and strength in the network as a whole, that’s usually a great time to buy. If you believe in the underlying asset, i’m not a financial advisor, make your own decisions, but let’s keep moving and by the way, just to be real with you on this channel, it’s not always just going to be opium or just going to be a one-sided analysis. I will always try to the best of my ability to give you both sides of the bitcoin, so you can make the best decision for you, the grayscale bitcoin trust has just hit its largest discount ever so grayscale’s flagship bitcoin product is now trading at over a 21 discount the largest ever in its eight year, long history.

So this is a bearish indicator, because it does tell us that traditional slash institutional investors, people who use grayscale aren’t even willing to buy a piece of bitcoin with this massive discount. This means that new investors can purchase gbtc shares at prices significantly lower than the actual market value of bitcoin, while the existing hodlers face losses due to the sixth month lockup period for the initial investment so plain and simple, i would say that until this discount becomes More neutral, i would be in no rush to turn ultra bullish right now, immediately bullish long term waiting watching consolidating short term and next up. Let’S talk about ethereum, the metaverse, but real quick. I do want to take 60 seconds and give a big shout out to sponsor of the channel okcoin a better way to bitcoin join the fastest growing global cryptocurrency exchange with the lowest fees around. So, while this is a global cryptocurrency exchange, they are regulated in the us which i like and it’s true that they do have much lower fees than other crypto exchanges out there to understand how that’s possible.

I will link our 18 minute interview with ok coin’s, head of listing. He goes into detail. Why ok coin? Is the better option link down below check it out and the final two things i’ll mention which i think are important to you? Is they not only have the top coins the most popular coins on their exchange, but they also have newer coins as well as metaverse coins listed on their exchange as well, which i like and number two ok coin also has 100 percent feel staking.

So you keep 100 of all staking rewards earned. There is a link down below altcoin daily, okay coin, link down below check it out all right, what’s happening with ethereum well, instagram is now actively exploring nft integration says their ceo, adam massari, basically figuring out how to make nfts more accessible through their platform and rather Than read you, this story, let me just play you this 15. Second clip of adam massari answering this question on nfts watch this nothing to announce yet, but we are definitely actively exploring nfts and how we can make them more accessible to a broader audience. I think that’s an interesting place that we can play and also a way to hopefully help creators, okay, short and sweet, as i get more info i’ll, keep you updated and next up huge piece of news for the metaverse chinese investment right now is pouring into the Metaverse, this is the data that we just got in the first week of december, the beijing language and culture university put out its list of the top 10 internet buzzwords of 2021, so the whole year and separately, the website yahwen zia, zawi its name means buzzwords or Chewing words released its own top ten buzzwords of the year and metaverse made both lists and was the only non-chinese word on the second list. So this tells us that this metaverse revolution is not just in the western world.

It’S very much in the eastern world as well, and according to major business data site taiyan yancha china has registered more than 7 000 trademarks related to the metaverse. Give me your thoughts on this down below. I want to be real with you that to me this is a bullish and bearish indicator, because we have seen with the banning of bitcoin how china feels about decentralized cryptocurrencies. They prefer control, they prefer centralized and i would guess they would want their metaverse and the metaverse that their people get into adopt to be centralized as well and next up low cap. Altcoin news for energy web energy web is a global non-profit, accelerating the low-carbon customer-centric energy transition by unleashing the potential of open source, digital tech.

So energy web is a cryptocurrency incentivizing green, renewable energy and the news today is their coming to polka dot. We are thrilled to announce our partnership with parity tech to build the energy web consortia relay chain in 2022. The energy web consortia relay chain will be positioned as the first multi-chain network connected to polka dot. In a final direct quote from the ceo of energy web foundation on what this means, we continue to onboard major energy companies to our open source technology stack to accelerate the energy transition. But there is a massive amount of innovation happening in other web3 ecosystems, such as polkadot and kusama, and we want to make sure that this innovation comes to the energy sector by working with parity to bring the consortia relay chain to life.

We can give our members access to new innovations like on-chain governance, native interoperability, robust scalability and other features that substrate and polka dot enable innovations like these will help our community move even faster in our work to create real-world impact on the global energy transition. So, love to see the progress good for polka dot great for energy web and that’s the video my name’s austin, like always see you tomorrow, [ Music ], you

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