INCREDIBLE Crypto News (Bitcoin Pump To $200k)
Today we got a lot of exciting stuff to go over from brazil, potentially making bitcoin legal tender to axia infinity a couple of things with bitcoin and how it could reach 288 000 per coin. This bull market, we got a lot to cover, but before we dive into that, it still says about 72 percent of you watching are not subscribed. So if you enjoy short form, concise, no bs content that doesnt waste either of our times well make sure to like the video and subscribe to the channel. Also, a lot of people have been asking, so we officially opened up a few more spots in our patreon group: youll get access to daily live streams, buy and sellers exclusive videos and other additional content. If you join, i dont know how many more spots were gon na open after this so make sure to join if youre interested anyways right now we are seeing that bitcoins price is starting to get closer and closer to 50 000 per coin. And now many analysts are coming out and saying that 200 to 300 000 for bitcoin, this cycle is very, very likely. According to tech dev on twitter, he came out and compared the monthly rsi for bitcoin versus fibonacci levels, and what we see here is that um each of the last couple of bull markets back in 2013, back in 2017, we saw two peaks for the rsi 2013. They were completely separate back in 2017, theyre much closer together in timeline, but now weve only seen one peak so far in 2021 and when you start to compare this to fibonacci levels.
Well, it puts bitcoins price right at 200 to 300 000 per coin. In this bull market, not only this, when you look at the rsi and the fibonacci levels, but also um plan b, the creator of the stock to flow model, he has predicted multiple times in the past that bitcoins price. This bull market should reach 288 000 per coin. So when you start to look at the rsi, when you start to look at fibonacci levels, when you start to look at what the stock to flow model model says well, everything is pointing to bitcoins price. Getting between 200 and 300 to 200 and 300 000 per coin, this bull market, other thing going on right now is with regards to axi infinity. A couple of things were leaked with regards to axia infinity, which is an nft um blockchain based game, and what happened was? Is they just leaked a couple of new pieces of information with regards to um? It was like a live chat between developers and they linked a couple of new details about upcoming updates, like the addition of axi scores for each character, new abilities effects and other things for game play, and this has caused axe, infinitys price to rally significantly to new. All time highs, this is one of my favorite altcoins out there in the nft space, because it is one of the biggest one of the most well known and if you look on openc, their volume for nfc sales is higher than just about any other nft game.
A lot of people are looking for whats going to make nfts more practical, have actual use cases well, gaming, combined with nfts. That is a more practical use case than you just buying a picture with no meaning at all. You know theres a lot of ways to make nfts practical, but including them in games is one of the first things we are starting to see. Next story is with regards to ethereum. Right now, with ethereum, we are continuing to see ethereum um reserves uh, the all ethereum on exchanges continue to decrease. Ever since last year we have seen the total amount of ethereum on exchanges continue to drop, which, in my opinion, is setting ethereum up for a massive massive rally towards the end of 2021 and early 2022.. Interesting thing here is you to remember the less ethereum? That is on exchanges the and like the higher the demand. Well, the higher the price is going to go its all about supply and demand. If theres not a lot of ethereum available to be sold and a lot of people want to buy it. Well, its going to help drive the price up, and not only that, though, but weve also seen that the total ethereum plot supply is continuing to increase. So you can see since the beginning. Since about one year ago, we have seen the total ethereum supply go from about 112 million, all the way up to about 118 million. At the same time, though, we have seen supply on exchanges decrease, so it means all of these people who are either mining, ethereum or everyone who is buying a theorem is taking it off exchanges using it for nfts, putting it in cold storage, and ultimately, we are Seeing that people have no plans on selling it anytime soon, which is ultimately setting us up for a massive massive rally in ethereums price into the second leg of this bull market.
Last story of the day, which i will talk about more in our live stream for patreon members tonight, is going to be with brazil. Brazil is currently looking to introduce a bill thats going to make bitcoin legal tender. This is important because brazil is the ninth largest economy in the world and right now, according to a lot of news sources, according to brazil, its looking very likely for this bill to pass and it doesnt seem like theres a lot of obstacles in the way. So this is a big difference compared to el salvador. Brazil is a much larger economy, a much larger country, and this could have even bigger impacts on crypto. So everything lining up right now is looking very, very bullish for the overall market, a lot of stuff going on with axio and finley, with ethereum, with all all coins and combine this with technical indicators. Things are looking really good, but anyways.