CRYPTO NEWS – El Salvador BTC, Altcoin Surge, NFT Adoption
This is tony with journey crypto. This is just going to be a quick update on the crypto markets and some major news going on as well as a quick update on the nft space. We just had bitcoin break fifty two thousand dollars. We also had el salvador announce uh, they did acquire 200 bitcoin and they will be acquiring more and bitcoin is now accepted as legal tender in el salvador as well. So before we get started, i do appreciate if you guys, like the video subscribe to the channel, if you havent already and hit the bell to be notified for regular videos Music, all right guys, we do have the crypto space looking pretty good today, bitcoin up over One percent with the news about el salvador now at fifty two thousand five hundred dollars breaking another major resistance level, which is a great sign, uh, the longer bitcoin stays in a general uptrend, the better and uh the higher profits. We will see on the small cap. All coins so uh. We also have solana up here. Another 13 today, up 45 on the seventh day. Solana has just been surging. The past couple weeks, uh pretty crazy hasnt even had a huge pullback. Yet so, as you guys can see, solana here, just mid august was only around 45 now 165 massive return on investment in a short period of time. A lot of nfts are launching on the solana blockchain as well as the cardone blockchain and, like i said, i will be doing another video on how to get set up um buying nfts on the cardano and solana blockchain, so uh.
Besides, that everything is uh. Just up or down a couple percent here stellar is up. Seven percent theta is up fifteen percent uh. We do have ftx token up around 16 percent as well. Uh chain link is finally starting to pick up as well of 5. Today of 37. On the 7 day, like i said, thats one im bullish on that hasnt really had a huge surge yet so chain like currently around 35. This did bottom out around july 20th under 15 dollars, so this had has had a good recovery, but it hasnt broken its previous. All time highs around 50 dollars from the beginning of may. This is a top oracle project in the crypto space as well, and i think massive utility will come out of this uh once they start doing oracle nfts. So i do think this will break previous all time highs by end of year, and i am pretty bullish on chain link, but i do hold more uh, ethereum and cardano. So, besides that a lot of uh top 100 cryptocurrencies have already surged and passed their previous. All time highs, besides that im still pretty bullish on eos, but, like i said, i dont think thats going to pump until they announce the launch date for the bullish exchange, theyre, also working on an nft platform which is pretty interesting. Having um, no gas fees as well so pancake swap is another one. I hold a lot of um.
I do think that has high potential uh whenever bnb pumps cake will probably pump with that uh. Besides that, though, im really focused on the small cap cryptocurrencies that are below the top 200 that do have massive updates coming main nets. Partnerships. Anything thats going to bring a lot of demand to the project while bitcoin and ethereum in the top 50 are in a general uptrend, the small cap. All coins uh will definitely surge much more than top 50 cryptos will, especially with uh so much profits in the top 50 cryptocurrencies. A lot of that will be spilling over to the small caps as they get more attention and uh demand picks up for these uh, but keep in mind the smaller the crypto, the higher risk. It is as well all right guys so checking out the bitcoin chart here. Things are looking great. Bitcoin has been in a general uptrend since july 20th, where we did hit that wykoff spring so uh. This accumulation phase ended up playing out extremely accurately to the y cough accumulation schematic. We did cover this, the entire time the market was crashing and its really crazy. How accurately this played out. I do think this was a phase of manipulation where elites and whales and companies were really trying to get an entry before things really started. Blasting off so now were recovering back to previous all time highs, which is around 64 000 steadily. Climbing here definitely a great sign.
So something else i do want to point out here as well is: we are getting close to a golden cross occurring where the 50 day does cross the 200 day moving average generally following a golden cross, you do have a huge surge in price, so that is A good indicator: we will break previous bitcoin, all time highs as well. Of course, this doesnt always play out just like the death cross, doesnt always play out as well, which we did have occur in june, so uh. This was a lagging indicator that we did have for that death cross. Even though there was a small downtrend uh hitting that spring before recovering uh generally, a death cross can indicate another 50 drop, so uh golden crosses do play out much more accurately than uh. Death crosses do so uh, definitely bullish on this death cross occurring, especially with all the bullish things happening by end of year. We have a lot of companies getting into the crypto space. We just had el salvador acquire bitcoin and make bitcoin legal tender. I do think uh one or two more countries will make uh bitcoin legal tender within the next year and i do think a few more companies will be acquiring bitcoin by end of year, also holding that on their balance sheets, any major company thats not doing this Is really going to get left behind and once we start seeing some of the major companies acquiring bitcoin to hold on their balance sheet, i do think uh.
Dozens of companies will quickly follow and thats really, where were gon na, see bitcoin breaking a hundred thousand dollars. Very quickly, because that will cause uh massive um retail fomo at the same time, so we do have a couple more major resistance levels coming up for bitcoin before we do test. Previous. All time highs our next major resistance here around 55 000 after that is around 57 500, and then we have around 60 000 before uh testing at previous. All time highs around 64 000. So we do have a couple huge resistance levels here, but i do think in general we will be on an uptrend of course, uh. Any huge breaking news can really make bitcoin surge and break through multiple uh resistance zones in a short period of time. So something like a company acquiring a billion dollars worth of bitcoin or more, i think, can really give us that push needed to be testing sixty thousand dollars. If that does happen in the next month, i could definitely see that happening. Things are getting bullish in general. Were getting a lot of retail investors entering the space again? A lot of companies are taking interest and i definitely think uh. We will be breaking previous all time highs by end of year and i still think a hundred thousand dollar bitcoin is very possible by end of year as well, all alright guys. So the major news for today is el salvador acquiring their first 200 bitcoin.
As a country uh. The president also stated their brokers will be buying a lot more as the deadline approaches. So this definitely helped give bitcoin a boost to break that 52. 000. Major resistance and something else el salvador is doing thats huge is a 30 bitcoin airdrop to every el salvadorian citizen, so millions of their citizens will be getting introduced to bitcoin theyre, actually going to get bitcoin so theyre going to want to transact with it and theyre. Actually going to test it out and then imagine how many of these citizens will actually start putting their savings in bitcoin, rather than uh their fiat currency, which is subject uh to hyper inflation and losing purchasing power, whereas if they put it in bitcoin and put their Savings in that uh, when you zoom out for the very long term that well be appreciating with value over time and increasing with purchasing power. So word of el salvador, purchasing 200 bitcoin, as well as making bitcoin legal tender now by law, is spreading very quickly. I do believe this will be in major news outlets over the next few days, and i do think this will bring a lot of new retail interest into the crypto space over the next couple weeks. So um. I could definitely see the crypto space in a general uptrend here towards end of september. Possibly testing 60 000 bitcoin would be massive. I think well quickly, break previous all time highs as well, especially with some breaking news so uh.
That is something on the bullish or end of september here, so we also have um the stock to flow model for bitcoin, pointing to a hundred thousand dollar bitcoin by christmas by end of year, so um. I definitely think this is very likely to happen as well. This actually shows a minimum of around a hundred forty thousand dollars and a peak of around three hundred fifty thousand dollars by the peak of this bull run. So i dont think the bull run is over. I do think this uh will likely continue into 2022. Things are much different. This time around uh were not going to have a top off where we drop off into a bear market very quickly. I do think its going to take longer to enter a bear market this time and i do think i it wont be nearly as bad as the last bear market as well. So we do have nfts in the news today as well. Cnn.Com posted remember, nfps, theyre back big time, so nfts is getting some major mainstream coverage again uh. Previously earlier this year there was a huge wave of nft hype on celebrities. Releasing nfp sets now theres a lot of hype on this profile picture. Uh. 10 000. Nft sets, and i do think that will continue um. I do think the communities are much stronger in these type of sets. Uh really, depending on the project, though uh you do have to find these nft projects with a good team uh a good road map, as well as really good art as well, and a good plan for the future of that project.
If you get all of these things, then generally thats a good project to get into so personally, my best profits have been in the nft space, although ive made some great profits in all coins as well – and i do believe another altcoin run is coming by end Of year, where theres going to be huge opportunity, i also think theres huge opportunity in the nft space also, but we do have to be much more careful because of all the cash grabs and bad projects. At this point so nfts, i do think theres gon na be another surge in volume mid to end september and were gon na see some new all time high uh floor prices for a lot of these sets. So we do have um nfts in major uh media. Again, uh, we also had a record breaking sale for aboard a yacht club gold ape as well 740 ethereum, uh close to three million dollars at the current value of ethereum, and the sandbox game actually purchased this. If you guys havent checked out this crypto project, i do recommend that i did previously cover this in my uh crypto uh gaming video – and this has been one of my best investments in the gaming space i did buy into this around 25 cents at the market. Bottom recently, now its about 4x around one dollar compared to axe, infinity and other top gaming um crypto projects. I think this still has high potential as well, and you can buy nfts from this game and land as well, so definitely check out the sandbox.
If you havent, but really interesting, that they bought uh, this gold ape for 740 ethereum uh, definitely interested to see if they have anything planned for this in the near future. So we also have board ape in auction right now, which i think is great for the entire nft space. The better these auctions do, i think, the more attention that will come to the nft space in general, so currently 101 board apes on auction. The current bid is now 19 million dollars usd uh. This auction is ending in two days and 12 hours i did state previously. I think this would pass 20 million dollars now. I think this is very likely to pass 30 million dollars. Most of the bids probably will be in the last couple hours so thats it for todays, crypto news and market update. I hope you guys found it useful. Like always, i do appreciate it if you guys liked the video comment below and share this video anywhere on social media or with friends and family. That may also find this type of content useful, also dont, forget to subscribe and hit the bell to be notified for daily crypto videos again, thank you guys so much for watching and ill see.