Welcome back to cryptomerias, I am George, we’re all George, so welcome back to some of you guys. I know many probably have been traveling or doing whatever nice things towards the end of the year. So welcome back a new week is about to begin, and that is why i want to focus on bitcoin. What’s next for bitcoin, we are now officially in 2022 and there’s so many people feeling so bearish as of late. So I’m gonna encourage you guys to stay strong and to be in the game and talk about what’s next for bitcoin, so let’s get started as always: smash up the like subscribe to the channel two streams almost every day: 11 30 and 8 30 p.
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 guides at cryptozoros.com.
Welcome! Welcome! Welcome back for many of you guys, i know you’re, probably on vacation. I took a vacation a week prior, but many of you guys are coming back to goodness. For the last two days, bitcoin and crypto has been pretty strong.
We have seen some pretty good movement, not explosive movement, but movement nevertheless, in the right direction. Right but there’s a lot more to come so today you look at bitcoin right around 40 47 4 and you look at overall market. You know it’s not doing too shabby you can see. Most things are in the green today right a lot of the l ones. I’ve been talking about have been going up, Ethereum is starting to climb again and look at the polka dot today up nearly 10 percent.
A lot of these l1 is just stair-stepping slowly, but surely yesterday inside discord, you know some people mentioned about having too many l1s. At this point i don’t think you could have too many l1s the l1s and network protocols. There are so many out there, but there’s so much, dapps and and developers and and community on top of them, utilizing them so they’re all in the right direction. I think 2021 has to be the year of the l. Ones.
2022 will probably be the be the same, if not better, so i don’t think you have too many l1 at this point, and many of them are doing very well today, and many have done pretty well yesterday and you can see chain link is also a pretty Substantial today, this is good stuff, good stuff overall, but let’s jump into bitcoin. What’S going on with bitcoin, what’s next for bitcoin, you guys know me: i got some good stuff about bitcoin. Let’S start with plan b, so plan b uh playing a lot of defense recently. He gathered a whole bunch of followers, thinking that you know he’s the next crypto oracle or bitcoin oracle, because he was right so many times with his floor model and stock to flow he’s playing a little defense these days so number one he says floor model has Failed, so he’s never going to use it again. Okay, but two stock to flow has not been invalidated.
It’S at a critical point, but still not invalidated and according plan b still useful and is the most useful in critical situations right so stock to flow. I think it’s going to be very, very, very hard to be invalidated, so this is stock to flow right here, and you could see the bands you know away from where it should be, and there’s many periods before where you could see on the upside, where stock To flow broke through the upper bands, but just because it did doesn’t mean that it became invalidated, even in 2020 uh 2017 right, it was close to breaking that upper band right. So right now we’re kind of hovering in the middle a little bit lower than where we should be, but still we’re nowhere close of invalidating stock to flow, and this is something that’s that’s over a long period of time right since the beginning 2010 to now and It’Ll, keep going at some point, eventually, it’ll be outdated, but right now it’s not. I just feel like there’s too many people jumping on plan b and uh and being so negative. You know he’s like everyone else.
Right. No analyst is perfect. A hundred percent of the time you could be right, 99 of the time and if you actually feel that one percent that seems like everyone has just forgotten about the 99 prior right, that’s how it seems, but i still believe in stock to flow. I still believe that this is a good, a good uh good model in terms of projecting, where bitcoin will be going in the future. So, let’s start with that stock to flow still on track in a critical point, but still on track all right.
So with that said, let’s move on to some other things that are pretty positive. Well: here’s one about rsi momentum and bitcoin overall and about breaking above the trend lines and now utilizing that trend lines um as supports so pretty positive, usually when, if you’re a ta guy – and you look at something like this – usually means it’s a reversal and already Happened and there’s more goodness to come so want to lead off with that. There’S also a few other things. That’S pretty positive on-chain metrics like nupol, which measures net unrealized profits versus loss, and you could see that orange line down below, usually when things even out like that. That means a pretty good reversal is right around the corner, and that is exactly where we are the difference.
Is you can see on the right side that we’ve been hovering and hitting this line? Many many many times over the last month, kind of like fear index the more you stay at a certain point, the more likely it’s going to bounce from there. So we could be at that critical junction, where bitcoin does start heading up getting forming that new leg and we’ll forget all about december of 2021
All right, what else is there? Here’S another ratio, the huddle ratio, which also indicates that we are due for a bounce, but what’s more important is they’re saying the ratio is showing that we are at the same level as when bitcoin was back at 30 000. So obviously we’re much higher than bitcoin being at 30 000.
Yet we are same r, holder ratio, and what does this mean means? It’S good, it’s very, very, very good right. A lot of metrics have been showing this that we are nearing the same levels as bitcoin in the 30s, and we stayed at 30s for quite some time. But guess what happened? We had an explosive run up after afterwards, after bitcoin was ready to move right and we’ve been here for a little bit too.
We’Ve been hovering this 47 mark for bitcoin for a little bit so again indicator of what may be coming good stuff good stuff. Now other good stuff – that’s not related to ta or on chain metrics. Look at president buckelli 2022 predictions bitcoin will reach. A hundred thousand two more countries will adopt it as legal tender will become a major electoral issue in the? U
S elections this year, interesting, interesting that third one i haven’t heard of um bitcoin city will commence construction.
Volcano bonds will be over subscribe, huge surprise at a big at bitcoin conference. That’S also a surprise, but the first two i don’t think is – is far far reach. I i’ve said bitcoin will hit 20, i mean and hit 100 in 2022. So i’m not the only one to think so, though, when i posted this poll, a lot of people didn’t think so a lot of you are bearish again. I don’t know why.
So many of you are bearish at this point. Uh two more countries adopted legal tender. I think it could be more than two countries we’re seeing so many latin american countries and other countries around the world like turkey um that are just really. They can’t really deal with their inflation issues right, so they have to chop off some zeros redo their whole economic policy, but whether or not it works unknown at this point, but they’re all looking at bitcoin they’re all looking at something that is better than their situation. Right now, so two more countries yeah that’s likely, but this this major electoral issue of the us – that will be a big thing.
I haven’t heard about that, but hey uh. Besides that el salvador, yes they’re, building out bitcoin city they’re selling volcanoes volcan volcanic uh mining bonds, which will be over subscribe according to him and who knows what comes out of bitcoin conference, so pretty good, pretty good list, pretty good prediction for 2022
Uh, what else? Well, of course, i like to remind you guys that uh, the number of bitcoins floating out there is actually very, very very little so sometimes i talk about otc. Sometimes i talk about all this massive buying going behind the scenes and you could see it with the reserves. Dropping and people don’t believe it they’re like george, if there’s so much buying right.
Why do we still have these fluctuations? Why does bitcoin dip and uh? Why is it not a past 100 000 right well, first of all, whatever we’re seeing now: there’s 47 3. 47. 000 right, that’s based on the 6.
percent 6.2 percent, so 93.8 percent is off the exchanges held by individuals like you and i and institutions and miners and the whales right. So it’s it’s measuring just a small, very small percent of what’s out there and there’s a lot of trades with between whales and institutions behind the scenes, lgc market and it doesn’t affect the price that we see. But here’s the thing the mountain exchanges keeps dropping.
It has been for quite some time and the more drops and the more it becomes scarce right. Eventually, it’s going to have effect on bitcoin and when this amount on exchanges drops to a really really really low level. That’S when it’s pretty much too late to get into bitcoin right. So this is why i tell you guys to stay strong stay in the game, because, yes, bitcoin is very scarce and ultimately, what drives the price up is scarcity price is affected or driven. I should say by supply and demand and demand is simply going higher and supply is simply going lower right.
So there you go like to remind you guys. Very, very, very little of bitcoin is actually floating out there and everyone is fighting for the same pieces right now right all right now. What else is there and look at supply? This keeps going up. You can see that since may right.
That was when bitcoin fell down to 30. Thousands and you could argue a lot of the miners sold because they had to be pushing being pushed out of china. But since then, there has been no major liquid supply change, which means that more and more or more supplies becoming illiquid, which again correlates with this more and more, is being taken off. The exchanges not being traded not being used just simply held, and it keeps increasing right, so this is going to have effect on bitcoin’s price in the future, and it does show that there’s no one selling at this point there’s really no one selling. At this point.
Um not in significant amounts, not like this back in may and june of 2021 uh, just a few other things. Also all bullish stuff for bitcoin goldman sachs been defining. You know certain certain aspects to crypto different buckets. You could say so in terms of pure cryptocurrencies. There’S only one listed and that’s bitcoin digital currency store value, medium exchange, it’s weird that they just say pure in quotes.
Cryptocurrencies and, of course you have utility tokens, stable coins, nfts and financial infrastructure, but even goldman sachs recognizes there is nothing competing with bitcoin. Those of you guys are litecoin fans. Unfortunately, goldman sachs does not recognize litecoin being a store value because you know like coins should be listed in there, but it’s not because they don’t care about it. Right. There’S three sure things when it comes to life number one death number two taxes number three you’re gon na lose money with litecoin.
So that’s why it’s not listed. I wan na show you this some of the dip durations that bitcoin had over the last few years and there’s been many many many many many many right. So what does this mean? Yes, even in during bull markets, there are a lot of corrections. Yes, there’s a lot of corrections in uh in crypto winter right, there’s corrections all over the place when you zoom out.
Sometimes you just feel like yeah, even during global markets, everything’s going up. No, that’s not the case. We had many many many corrections and bitcoin gets through all of them, so it’s just a matter of having patience, the patient’s game and right now we’re going through one of them about 52 days. Right, so are we going to get out of it? Yes, yes, we are, you just have to have patience.
It’S a new year, it’s a new start and there’s so many things. I’Ve told you guys about that are very, very positive for bitcoin all right. Lastly, just this look at this headline: uh millennial millionaires plan on making more cryptocurrency investments in 2022
At least 83 percent of millennial millennial millionaires own cryptocurrencies. You know why, because 83 of them became millionaires through cryptocurrencies at least um. So that’s not a big surprise.
Okay – and i want to show you guys this – because most of these millennials all they had to do – was buy and huddle, and that’s it most of these vast majority, if not all, did not try to day trade did not try to swing trade, they’ve simply bought And hold old, they believed in a project where maybe they got lucky and there’s been so many projects that have gone up. Thousands to tens of thousands of percent over the last few years and there’s going to be many. Many many many more millionaires to be made through holding crypto right. This is why i tell you guys to stay in the game. Focus have patience and let the life-changing wealth come to you, because this is not over there’s going to be a lot more of this.
In 2022, 2023, 2024 and just go keep going, but you have to have patience and, most importantly, you have to have you have to be in the game right, otherwise, you’re not going to gain anything. Just like lottery tickets right. You may think that the lottery. Well, i i don’t play the lottery that much but uh in order to win a a mega. You know mega millions or powerball jackpot you got ta at least have one ticket right.
You have to be in the game, otherwise, sitting on the sidelines. You have zero chance to win with one ticket. At least you have that one in 200 million chance, but at least you have a chance. So there you go kind of the same analogy, but pretty bad one but anyways. Let’S go end it with that um.
All right, lastly, before q, a i do, have a new sponsor today, a promising new nft app that’s on solana, and why not right solana is really beefing up their nft ecosystem, soul, art and many other marketplaces out there. Of course, everyone’s competing against openc right now, but there’s many others like r trade that is trying to revolutionize and get more adoption within nft space through their very first mobile application. Now i’ve looked through this and the best way to to sum up what our trade is is instagram with nfts. Basically, it’s it’s instagram, but every single picture on the platform is basically an nft, that’s created or held by you. So you could create your own nfts and, of course you could sell it and they have social features listed within or within, so that you can comment and you can rate and you can buy.
So that’s basically what it is and if you think about it, that’s not a bad thing right now, with nft marketplaces, almost all of them are desktop based very little or mobile based and the ones that have a mobile app just doesn’t work as good. Our trade is being developed as a mobile application, so basically it has social integrated. It has nfts integrated right and it has everything on top of solana, which means that it’s basically felis and you don’t have to worry about congestion or anything like that right and they have a few other things that they’re working on. That makes a little bit more interesting. For example, you could actually buy nfts with fiat and crypto most other marketplaces, all crypto, but they’re gon na make it so yeah you could buy with fiat as well they’re going to integrate with, of course, other social networks like instagram and twitter.
So it’s very easy to publish what you have uh created and uh and show it off on other social networks. They’Re gon na have their own social network right, um, very low fees versus the others and they’re gon na have their own integrated wallet. So, unlike the other marketplaces, you have to use metamask or phantom or some other kind of wallet to store they’re gon na have their own integrated wallet. So there’s a few things, that’s different about our trade. It is still early stage projects still being worked on, but does look like it has a lot of promise.
So if you want to learn more check out the url in the description of this video, alright guys that’s pretty much it now. Let’S do some q a oops henry says you don’t have to worry about congestion solana, not right now, because it could scale up to 50 000 transactions per second and there’s been times where it has gone beyond that. Unfortunately, a little bit too much due to uh ddos attack or hacks, but 50 000 transactions per second, which is a lot a lot versus what say. Ethereum can handle these days. Uh henry also asked about what do you think it would take for cadena to reach top 10 levels?
It’S going to take a robust ecosystem right right now, that’s what they’re working on them and their developers, but you need to have a lot of tvl. You need to have it um amms. You need to have um kda locked in right and you need to get a lot of people to come on board, not only with a dexes but lending platforms. Nfts you got to have robust wallets and you got to get all these bridges so that you can get wrapped kda and kda onto other chains. I mean there’s just a lot of things that they need to do updated thoughts on fantasma.
I’M sorry! I don’t have any updated thoughts on phantasma um should sell, should start selling per satoshi, not btc. Well, that’s interesting! That’S interesting! Uh!
You know what okay coin! I know that their exchange i cover before they have that where you can buy based on sats and not btc right, and i think if you value it, if you look at it that way, it would actually draw on more people, because i think a lot of Retail people coming in and i get bitcoins too high. I can’t afford this. I got ta buy something smaller right, but imagine if everything listed in sats, then it just makes things more affordable right. It just looks a lot more affordable.
So i don’t think that’s a bad idea. I don’t think that’s a bad idea. Um, let’s see two brain cells. George has the right message. I appreciate that uh damon says have patience.
Take note room. You know, that’s what i’m here to do give the right message. The right attitude and help you guys learn from my mistakes. My biggest mistakes in my crypto career is not having enough patience. I mean it really comes down to that uh and when it comes to investing it doesn’t matter if it’s crypto or stocks or anything, it’s just really having patience, especially when you got winners.
I i’ve told you guys stories about like early on in 2000 and 2008, when i had some real winners were stocks, and i was not patient sold them off and you know big mistakes same thing with crypto in 2013 14, when i got in didn’t, have patience And cost me a lot too right same thing with 2017 18 many times right patience you got to have it uh, isn’t a step ass, isn’t the life changing wealth narrative is hurting adoption. It seems like it seems to attract a population that is making unreasonable, bets and becoming unstable during difficult times. No, it’s not hurting adoption, it’s hurting people that are not patient. What’S that quote? What’S that quote from warren buffett, uh investing is oh, i got ta.
Look that up it’s basically a transfer of wealth from the impatient to the patient, so it never changes. Anyone that invests for the wrong reasons will get burned right, but the thing is: will they learn from that and stay in the game? Those that did, i think, they’re still in the game, and they have learned from mistakes and made money, those that didn’t they’re out and they’ll claim that crypto is a scam or investing in a scam or whatever. So no, i don’t believe so because that’s always been the case always been the case and you don’t want everyone. I mean honestly, if you, if you think about it right, uh.
If everyone was what’s like that, then uh, then you can take advantage of the dips or anything. So you got ta think about it. That way too uh tom asked about tron. I like trying a lot better now that justin uh has stepped down, but it really depends on if they get a new leader, one that could really, you know, really lead them and form. You know uh um, i don’t know, form a good plan for all the projects that they have under their umbrella, so where they go do with bittorrent.
What does that have to do with bdt? What does that have to do with sun network? And what does it have to do with all the other stuff that they have? Are they gon na be integrated? Are they gon na be separate projects?
You know, i i don’t know flux just broke his all-time high. I got luna vibes from it. Well, i like flux, i like flux, a lot and they’ve been doing very well um recently. Well, today, really good! I don’t know why today, but uh they’ve been around the block for a while they’re a more decentralized computing platform, so they do compete with several others.
In the space – but i really like i really like what they’re doing with cadx and kadena so but yeah they have promise. They have promise but they’re not really a l1, though they’re they’re they’re computing platforms, so they’re like a decentralized host so but they did make some upgrades recently to make their costs a lot less uh. Let’S see thoughts on sandbox sandbox. I think it does look good. Yesterday i was on um, open sea looking at random land for sale.
I mean just a little tiny little block of sandbox. It’S like tens of thousands. I saw one next to snoop dogg’s, like mansion being sold for like seven million now i don’t know. I think people are just putting the same prices but um virtual land ownership is interesting. You know it’s especially if sandbox and decentralized continue to be the dominant metaverses.
You know the land values just go, keep going up and up and up and up so it’s actually pretty promising power crazy move today. Any comment, no no idea. Why um, let’s see what else i miss here, uh any thoughts on only one and there was something to stake like you within it yeah it’s a project that that i partner up with before, but i i have not heard anything about that project. I don’t know. What’S going on, i couldn’t access anything, so i’ve kind of like just given up on them, so i don’t know: what’s going on with them, um [, Music ].
Do you think uh phantom could replace or displace one of a higher number similar? I think what you’re asking is: can i climb the ranks? Yes, yes, it can. Yes, it can uh, let’s see, let’s last few defined kingdom just crossed one billion market cap. That is very good for d5 kingdoms and very good for harmony, which is why harmony has been going up recently.
Um i’ve been holding since 2013. So i know patience is key. I just see people hoping to become millionaire weeks when it likely takes three years now. Here’S another thing: if there’s no, if people thought they couldn’t make money really fast, then very little of them will come into this space. So that’s also a good thing again.
Your basic wealth is being transferred from the inpatient to the patient. That that’s that’s how it is with anything right. So as long as you know to have patience, then your goal, you go win from that situation. Um, let’s see, i think people are sleeping on bmb. The use cases b b is highest of any coin price.
Will catch up they’re not really sleeping on it? Okay, i i know what you’re saying no one really talks about. I was one of the only ones that talked about bnb back in the day and even now, but let’s not forget it is sitting at number three. Okay, it’s sitting on number three. So obviously a lot of people hold it, but i do agree with you: binance put a lot of use cases with um finance coin and they’re implementing a new coin burn mechanism which will start burning, bnb um a lot quicker and faster.
So that’s going to help and binance smart chain is still a growing chain, so can’t ignore that xhv never heard of it. So i’m sorry um q, a if you’re still lost on a good project. Levitate do you sell and buy back again in a bear market? You never know you never know. A lot of people do want to like time the market and they think okay, let’s go go down lower.
I’M gon na sell down, buy back i’ll, say this. It’S very hard time to market and many people that have tried ended up buying back at a loss or buying back at a higher price. So i i wouldn’t specifically recommend it. I think the better thing to do is basically to have cash on the side and have a good amount of cash on the side. So when things go lower you could dca, you can buy the dip rather than try to time the market.
It’S just really really hard to do so. There you go there, you go all right. What exchange do you use? It’S just a number. I have a number within the us and outside the us, like kucoin, is a great one.
Binance.Us um, you know, beginners, you got ta go with coinbase or gemini. I mean there’s just a lot out there all right. I think that’s pretty much. It um ens, it’s all airdrop tokens.
So there’s really! No. I don’t really have any thoughts on it other than you know. Ethereum based domain names cool just like unstoppable domains. They have their top level domains.
Many different domain extensions, it’s cool cool! If you want to use it all right, thanks for tuning in smash a like subscribe to the channel and i’ll see you guys tonight, 11 30 a.m, no 8, 30 p.m. Central standard time.
All right have a good one guys take care bye! You