Today, i want to talk about why i think dogecoin is going to bounce really soon and start going back to the moon, and i want to talk about the ethereum dogecoin bridge and what the ethereum upgrades mean coming up for dozecoin in the future. So, stick around till the end of the video and hit that like button somewhere, people can hear the great news about dozecoin and we can grow. This community become financially free together, let’s get into the doze all right so does coin’s still sitting here in the number. Eighth place position of all cryptos by market cap, and we are down about four percent in the past 24 hours and the rest of the crypto market is not looking too much better either. Bitcoin is actually down about two and a half percent.
In the past 24 hours and ethereum is down five percent in the past 24 hours as well. If you look over here, this is the bitcoin four hourly charts and you can see that we’ve been having this pretty big pullback. But i did draw this purple box right here actually and i think that we’re hopefully going to bounce off of it and turn it into support before going back to the upside. But i think that we actually could come back down to the bottom of the purple box and hopefully we’ll actually catch some support right there at about thirty six thousand dollars where we’ve actually traded off of a couple of times in the past. So i think that this is a good level that we’ve bounced off of a few times and we could look to for a good level of support and it could send us going back to the upside.
Last week we had 10 green candles in a row and it was looking really beautiful and i was saying that we were probably gon na have a bit of a pullback, and that looks to be what’s happening right now. But this is definitely a bullish signal going forward, in my opinion, as long as we can bounce around this purple box somewhere, this is the hourly charge for bitcoin and, as you can see by this right here, if i just draw it out, you can see that The price has been going down, but the rsi is going up and this is actually a bullish divergence that i think will be sending us back to the upside. Also, it’s really down here at the bottom, which is close to oversold territory, and i think that this is a good signal that bitcoin might actually have a little bit of a bounce from here. Also we’re seeing the same thing in the dozecoin hourly charts, and i think that this is a good signal for dogecoin as well, that we could see a bounce right here and start going back up. This is the dogecoin daily charts and, as you can see, this 50 period moving average has been coming down pretty sharply while the 200 period moving average is coming up and we’ve been writing it as support, and it looks like we’re actually hitting the 200 period moving Average right now and we could be bouncing off of it going back to the upside, but i think that we’re going to have to see a breakout from this price range right here coming up really shortly, because we’re going to be seeing these moving averages come closer And they’re going to be squeezing the price into a breakout one direction or the other.
Also, if you look at the rsi down here, it’s pretty low and i think that there’s more of a probability that it’s going to move to the upside, so hopefully we’ll see the price start going up hopefully really shortly, but we’ll just have to see it probably Get squeezed out a little bit more here in the next few days. This is the daily charts for cardano and it’s actually been getting squeezed into a tight range as well, and it looks to have actually broken out today and is putting in a really big green candle. And i think that this is what we’re going to be seeing. Coming up for dogecoin as well as well really soon, but right now, cardano is actually breaking out because of this information over here cardano is finally being listed in japan and japan doesn’t list very many cryptocurrencies, but whenever they do actually list one, it brings a lot Of people into the market that haven’t had access to certain tokens in the past, and i’ve said in a lot of my previous videos that i think cardano is a really great project and i really do like charles hoskinson. He lives in colorado and i live in colorado as well, and i think that he’s a smart guy.
So i have some ada and i’m really glad that i do because i really love cardona and i think that it could possibly be a top three cryptocurrency coming up soon. The timing of this dip is pretty interesting because we’ve been seeing this little bit of bad news. That’S been coming out trying to put some flood into the market. It says gop senators feud over cryptocurrency plan as lawmakers seek funding for infrastructure deal. Two leading republican senators are at odds over proposal to step up tax reporting requirements on cryptocurrency transactions, a measure designed to help pay for one trillion dollar infrastructure proposal moving through congress.
It seems like the government thinks that a lot of people have been avoiding taxes and they feel like they need to recover the taxes that they’ve been losing and it seems like they’re trying to crack down on people that are actually evading taxes. And if you’ve been paying your taxes, then i don’t think that there’s anything to worry about honestly, but this article over here says how language in the infrastructure bill could roil up the crypto markets. The senate’s infrastructure bill requires any broker to report customer information to the irs, but it could expand the definition of a broker to include the vast amount of participants. If passed with existing language. The bill could deter innovators and investors from doing crypto business in the us and force some companies to shut down or move offshore, and i don’t think that’s what the government wants.
Of course, the government wants to keep their hand in your pocket and they don’t want you to avoid paying taxes. But they do want the innovation to actually happen here and i’m sure that they see that the crypto space is going to be the future and they see that it’s going to be bringing a lot of innovation for countries that adopt cryptocurrency going forward. So i don’t think that they’re going to be banning cryptocurrency, they just want to make sure that they still have their hand in your pocket and that they can take the taxes from you. There has been a little bit of confusion, though, because in the writing they’ve been saying that they want miners to actually be reporting transactions and everything like that – and it’s just not really possible for that to go on and that’s what happens whenever you have people that Don’T understand cryptocurrency making laws about it and unfortunately we are going to keep seeing stuff like that, because it’s just a bunch of old senile people that have no idea about the brand new technologies that are coming up in the world. Cryptocurrency is a very, very complicated subject and there’s no way that these people have their head wrapped around it.
But people have been bringing it to their attentions and hopefully they’re going to be rewriting the law because they don’t want people to actually be pushed out of the u.s and they want businesses to be here and they want innovation to happen here. So i think that this is just fud, that’s going to be passing really soon and whenever it does we’re going to be seeing things bounce back up. This could actually overshadow that bad news, and this is coming up in the next couple of days. Eth2 will help ether, outpace, bitcoin, pantera capital.
Ceo predicts ether has more potential than bitcoin as a newer cryptocurrency, and the latest eip 1559 will help the token trade more like a fixed asset. A lot of people have been predicting that ethereum is going to be exploding. This week, because of the london hard fork and because ethereum 2.0 is really starting to get rolling and eth 2.0 is a proof of state protocol, and all of these upgrades are starting to change the way that ethereum is actually run.
They’Re going to start burning tokens, and i think that this is going to make ethereum a deflationary asset and it’s gon na start gaining value really quickly. Like bitcoin did in the past. This article says the ethereum upgrade, which will destroy coins is happening august 5th. The change has excited some investors, as it will start to destroy or burn ether tokens. The change is technically known as ethereum improvement, protocol 1559 or eip 1559 and will be included in a network upgrade called the london hard fork.
Eip 1559 aims to make transaction fees more predictable. The change to ethereum is all about making transactions more predictable and therefore making the network easier to use. Fees are currently highly volatile because the network uses an auction system. Users bid against each other to have their transactions processed and verified by other users called miners, and this causes a lot of congestion on the blockchain, as people continue to pay a little bit more to get bumped up to the front of the line, and that just Pushes a lot of people’s transactions back and makes it take a lot longer for them to be verified, but that’s going to change, and this is going to really streamline the process of verifying transactions on the ethereum blockchain. It says, after eip, 1559 users will pay a base fee which could be algorithmically determined by the network, depending on how busy it is instead of submitting bids, they will also be able to pay a miner a tip to have their transactions processed sooner.
The idea is that the network’s base fee will be will always be cleared to users as they go into the transactions and won’t jump around from one minute to the next. If it’s too high users can wait until it’s lower, but what’s really big about this – is that they’re actually going to be burning that base fee, and this is going to make ethereum deflationary? I think this is really going to shake up the cryptocurrency space and we could see the great flipping happen and we could see ethereum become the number one cryptocurrency in the world and if that happens, i think it’s going to be really bullish for dogecoin, because dogecoin Is actually bridging to ethereum and, as this article says, dogecoin is one of the leading cryptocurrencies, though it isn’t flexible as some alternatives. The dogecoin ethereum bridge could help to remedy that. However, but what exactly is the doge ethereum bridge?
Here’S a low down on what does coin and ethereum collaboration could mean for the biggest meme crypto. It says the dose coin. Ethereum bridge allows investors to send dogecoin from the doze blockchain to ethereum blockchain, converting them into doge tokens. These tokens can interact with different exchanges like d5 before returning to the doze blockchain as those coins via the doge eath bridge. This will allow for significantly more doze transactions to take place per second than previously possible.
Ethereum co-founder vitalik buterin is playing a role in developing the doge eath bridge. Buterin’S active involvement in the meme cryptocurrency could be a boon in and of itself too. So this will be really great for dogecoin going forward and i think that as aetherium actually starts to blow up and go to the moon, i think dogecoin is going to catch a ride as well, because vitalik buterin really loves dogecoin, and i think that he is A man that makes things happen and there’s a lot more people in the space that have been making things happen with dozecoin and i think that’s just getting started. The recent downturn in the cryptocurrency space has been a really healthy one, and i think that we’re getting ready for a bounce and we’re going to be going back up – and this is probably what dogecoin has actually been waiting for, because people have been a little bit. Iffy about whether the cryptocurrency space is going actually back into a bull run or not, and i think that, as is being confirmed, does coin is going to start going back up?
Ethereum is going to be shooting off to the moon really shortly and as the cryptocurrency market starts to bounce and go back to the upside there’s going to be confidence, re-entering the market and as it does, people are going to start pouring their money into dogecoin because Everything else has already started to pump and dose coin is still on sale, so i’m really excited to see what this week is going to bring with the ethereum upgrades and what the future is going to bring with the dogecoin ethereum bridge. Let me know in the comments: do you think that the ethereum upgrades happening this week are going to be big for dogecoin as well? Either way i’m going to be keeping you guys updated with all the great dogecoin and cryptocurrency news every single day? So don’t forget to hit that subscribe button, if that’s something that you want and hit that like button, so more people can hear the great news and we can grow this community to become financially free together. Thank you guys so much for watching, and i hope you have a wonderful day i’ll see you guys next time bye, you