Why Crypto Keeps Dipping! | Crypto Market Ready to Explode! | Countries Embrace Cryptocurrency!
So you wont miss out on any of this great news and thank you. So much for hitting that like button, so we can grow the community and become financially free together now lets get into the doge all right. So dogecoin is still sitting here in the number eight place position right now and were down about five and a half percent. Unfortunately, in the past 24 hours, but the rest of the crypto market, isnt very much better, with solana, even being down about 10 percent in the past 24 hours, its actually down the most out of the top 10. But it is still up about 20. Almost in the past seven days, i thought we were going to be seeing some faster movements to the upside today, but we saw a little bit of a dip and i think it was just a bit of a fake out and i think, were gon na continue To the upside, hopefully today or tomorrow, as you can see, bitcoin is actually bouncing off of this 50 period. Moving average right now and, as you can see, the 50 period moving average is about to cross over the 200 period. Moving average here in a couple of days and thats called a golden cross and thats a really good sign that we could continue to the upside. Soon, as you can see on the bitcoin four hourly charts, we did actually come down here and bounce off of this previous level of support, and i think that this could be a good level for us to bounce off of and continue to the upside.
Hopefully, we wont dip down any lower than that, but im not going to be worried until we actually dip down lower than this wick that we had the other day during that big flash crash, as you can see by the hourly charts for ethereum. We do have this bullish divergence right here by this white line right here that im moving and this one right here on the rsi – and this is a good sign that we could be bouncing. Where were at right now and continue to the upside. And, as you can see right here, as i zoom in on the hourly charts, we also have a bullish divergence here on this shorter time scale, and this looks like a good double bottom and we could be going back up from right here. Also on the hourly charts for dogecoin, we have this bullish divergence right here and the macd looks like its trying to flip over, and i think that this could be a good sign that were going to be having a good bounce right here. Also, with the fear and greed index still down in the fear and with the dip that weve had today, i think were going to be seeing this actually come down into some more fear whenever this refreshes in about an hour and a half. And then i think this is going to be a really good sign, that this is a perfect buying opportunity for the dip and then were going to be shooting up to the upside really quickly here in the next couple of days over here we have an article That says undaunted by bitcoin flash crash, crypto bulls say this is the greatest time to invest this weeks, flash crash that dragged bitcoin back below 50 000 and sent other digital coins reeling in its wake, marred what should have been a momentous occasion for the first sovereign Country on earth adopting a cryptocurrency as legal tender.
Michael sunshine, ceo of grayscale investments, the worlds largest cryptocurrency fund manager by assets who told yahoo finance live this week that other countries are likely to join el salvador in the race to make crypto legal tender and matt hoogan cio of bitwise also told yahoo. Finance live that its the greatest time, i think, to enter the crypto market. A lot of the first decade of crypto was about zero to one now. The question is how fast we scale from one to one hundred. A lot of that is built on what regulatory clarity we get and i really agree with michael sonenshine of grayscale investments, because, like ive been saying in a lot of my previous videos, i really do think that this is going to be the beginning of a huge Wave of countries that are going to be accepting cryptocurrency as legal tender, and i really think that cryptocurrency is going to be changing the world and that nobody is going to be able to squash it and its going to be an innovative technology that changes the way We all live our daily lives every single day, its going to be changing our lives in ways that we cant even foresee up to this point, and i really think that theres, nothing thats going to be standing in the way of cryptocurrency other than time and right Now is the best time to be investing in cryptocurrency because, like hoogan just said, the first decade of crypto was from zero to one and now its house fast, we scale from zero to 100.
. So this is just cryptocurrency being in its infancy and were just getting started. You think a lot of people have been getting rich from cryptocurrency up until this point. Well, you havent been seeing anything yet because cryptocurrency hasnt even started to change the world yet over. Here we have a delusional article from yahoo finance, though it says crypto crash heres. Why billionaire john paulsons worthless call might be right. It says it feels as though cryptocurrency has been deemed a worthless fad. Since bitcoin first emerged from the guts of an anonymous engineers, computer rig back in 2009., while some of the criticism has come from the general public who may not have a clear grasp on cryptocurrencies how they work or why they possess any value whatsoever. Some very clued in financial minds have also questioned kryptos rising prominence, and this is a joke, because these guys are not very clued in at all. I would say that theyre probably having a really hard time staying up to date with all of the things that are happening in the financial markets alone, and they just dont have any idea. Whats happening with the cryptocurrency markets, because its actually really hard to keep up with the innovation thats happening in cryptocurrency and cryptocurrencies are a lot different than the traditional financial system. I think that if these guys are really focused on the businesses that theyve been building up until this point, then they probably dont have the time to actually learn about.
Cryptocurrency cryptocurrency is a brand new technology that is continually evolving every single day and it would be a full time job to be keeping up with all of that innovation, and even then i dont even think you could do it. These guys are just upset that theyre not making gains in the traditional financial system like were making over here in cryptocurrency, so theyre trying to drag us down so that they can probably buy in at the bottom and then ride it back to the top again. It says i would describe them as a limited supply of nothing so to the extent that theres more demand of the limited supply the price would go up, but the extent of demand falls. Then the price would go down, theres, no intrinsic value in any cryptocurrencies, except that theres a limited amount, and you know what thats pretty much, how just the law of supply and demand works. If the demand goes up and the supply goes down, then the price is going to go up, thats just how things work, and things only have value, because we give things value because we say that they have value. Gold is just a rock and if anybody said that it doesnt have value and the demand went down, then so would the price thats just how things work. So i think that this is a really stupid argument and i dont think that this guy knows what hes talking about in any kind of way over.
Here we have another article about a country thats embracing cryptocurrency and the innovation that its going to be bringing to their country. It says the swiss exchange 6 granted approval to launch cryptocurrency marketplace. The swiss financial market supervisory authority or finma announced their approval for regulated swiss exchange 6 to launch a digital asset marketplace and central securities depository built on distributed ledger technology on friday. The digitalization of financial markets continues a pace and, while the final shape of the market is still evolving, this is an important milestone in providing institutional investors with safe and robust infrastructure, and this is really good, and these are the kind of countries that is going to Be accepting cryptocurrency and theyre going to be receiving all the benefits of the technological innovations that america seems to be opting out of. So i think that we could be at a really good place for a bounce right now, and i think that we could see a good bullish weekend ahead of us, but if we do continue lower, i think that well probably continue down until we finish out that Wick that we had the other day and turn them into some solid candles, and then we can continue back to the upside. Sometimes, whenever we have a really long wick like that, the candles will come down and then fill out the wick before we start going back to the upside again. I do think, though, that right now were at a good place for a bounce and im really bullish either way, and i think that, even if we do continue to dip a little bit through this weekend were probably going to have a really bullish week.
Ahead of us next week, let me know in the comments: what do you think is going to happen this week? Are we going to continue to dump or are we going to actually turn around and start shooting back up to the moon, either way im going to be keeping you guys updated with all the great dogecoin and cryptocurrency news every single day? So, thank you so much for hitting that like button and that subscribe button, so you wont miss out on any of this great news and we can grow this community and become financially free together.