Impressive Crypto Run for Q4 (Latest News and Altcoin Analysis)
Once again, we are seeing things stay above 54, 000 for bitcoin above 3600 for ethereum, which is great to see. We know weve made these huge huge gains recently and people were thinking. Oh no were gon na see a big correction, but its okay, we are holding strong. This is a good sign. Now were in october, so guys this is pumped over. This is october uh in todays. I think first duo video weve done in a while. Uh were going to cover some fundamental analysis, also some technical analysis and in todays video. The question for todays video is: what do you guys think of the setup? Let us know in the comments below yeah. Do you guys, like the duo content? Obviously we both run the channel, so we thought why not start to do some content together, um. So let us know what you think in the comments down below and also if you, like, the video make sure to leave a like subscribe to. The channel help us get to 200 000 subscribers, i think, were like 500 subscribers away now. So any help is hugely appreciated anyway, lets get straight into it enjoy okay, so its gon na jump straight into it. Now the market right now is looking barely alright. There has been a bit of a correction in today, but the prices are holding very well. As you can see, you know 2.3 trillion dollars in the market. Cap thats really good to see, and then on top of that, the bitcoin dominance is rising a little bit.
Um and then also with ethereums dominance, its staying the same so i mean with that capital thats flowing into bitcoin and eventually into the old coins. I mean its holding quite well just dont, you think, like you know, i think its interesting to see it all going into bitcoin right now i mean you would have thought. Maybe some old coins might see a bit more action, but its a good sign, because we always see bitcoin have a big run up before. We then see old coins kind of take center stage a bit later on. So i do expect bitcoin dollars to maybe even rise a little bit more see, bitcoin push up to the new, all time highs, and then we could see uh, you know ethereum and other old coins take their turn. I think certainly yeah as bitcoin goes to new. All time highs and potentially even goes higher than that you know so too. 78. 70K. 80K. Things like that, we could be seeing bitcoin summons go above 50, and that would mean you know the majority of the capital thats out there in the market that were seeing right now would go into um. You know bitcoins price and what will happen eventually from that is bitcoin and do a bit of a correction and well see that capital flow into the old coins, and you know accurate to busy. You know we love bitcoin, but in the day we see the better returns for the old coins and thats, where i think all coins will soon have their day with the likes of ethereum cardano xrp solana.
These are coins. We love talking about on this channel, so lets just jump into also the the fear and greed index. This is fairly okay, its not 100 accurate, but it gives us a good idea of where were headed right now and so the greeds at 74. yeah well. This is interesting because when i checked the fear and greed index in my video the other day, we were neutral um. So we are quickly headed towards the greed and, like you said its not always the best indicator, it could stay in greed for a long time. You could even say an extreme greed for a long time. Um, but usually you know you just want to buy when people are fearful and you want to take profits when you see greed or extreme greed, especially so its a good indicator saying we have made these crazy gains. You know there may be a pullback on the way, but you know i personally think you know ill show you in the technical a bit later on its not going to be a huge pullback. I think itll be a small one before continuing the burst of uptrend were having certainly – and as you know as youre talking about that, you know already weve seen you know this is the 8th of october and already weve got 24 yeah as a monthly return in October, you compare that to september, which has historically been a bearish month october november, and december q4 is looking really good, especially for 2020, and all the other bull runs weve.
Seen in the past really well i mean you know: negative returns, thats been in 2018 and yeah. Remember those days they were just absolutely crazy, um. So to see already, you know a positive gain already in october know. We would expect to see some form of corrections and dips along the way throughout this month, but i think overall net is looking very good um, so thats. The first thing there as well bearing in the greed index and many other things so also be sure to follow us on twitter busy. We do some giveaways on there ethereum xrp much more so weve got some other content behind the scenes, yeah hell, because its 20 000 followers on there yeah itd be really good, um thats for sure, and then also another thing as well guys is that with ethereum, The ethereum usage is 54 times larger than bitcoin. Whether this is again 100 accurate. There is that you know increasing popularity of ethereum my prediction in this bull cycle. We could be seeing ethereum have that major battle with bitcoin and well be seeing you know ethereum dethrone bitcoin, but you think a little bit. You know something else yeah. I personally dont think that well see a theorem dethrone it in the sense that it will become the number one cryptocurrency, but i do think you know like we said well, see it being used and adopted. Maybe more than bitcoin will be and uh. I think either way it doesnt really matter what happens, because at the end of the day, if youre invested in either one or both as most people are yeah were going to see good gains.
So, certainly as long as youre making money right, thats thats, what most people care about make money, you know take profits along the way, thats really important, something we really like to talk about at creative business. Just you know, take profits along the way, its the first big lesson. People learn yeah and the hard way the hard way as well so um and another thing as well with the recent news wise is um. The sec have approved some form of etf for bitcoin. This is not exactly an etf that we were expecting. What it means is by this is that um you can bet on companies that are invested in bitcoin. So youre, not exactly. You know, betting on bitcoin itself, but this could be. You know a bitcoin etf solely yeah, when etf could be approved by the end of this year. Yeah i mean its a good first step right, and this is the closest thing youre going to get right now, so it could be a good gateway. Almost i mean this is what essentially betting on companies that are, you know investing in bitcoin themselves, uh. So by that, i guess by proxy. You are essentially betting on bitcoin, but its not not quite the same thing but, like we said you know its a good first step and hopefully by the end of the year, especially if we see bitcoin continue to make all time highs and show its resilience as An asset, um and crypto is an asset class, then maybe we can see an etfb approved and that will hopefully spur on the price.
Even more definitely i mean you have that institutional interest and also thats investment from the institutions – and you know you take the institutions like blackrock and many others out there that have billions if not trillions, of dollars under their on their books. You know if you see just a small percentage of that go into bitcoin. I mean right now: bitcoins assets are trillion dollars. Um gold is, i think, its like 10 trillion or eleven trillion, and, and so, if we saw bitcoin go to that sort of level, then you know were seeing 500 000 um bitcoin, which im not saying were going to be seeing that right now or the end Of this year, but you know it is possible when you have a look at other asset classes that are out there so thats super important to look at, but uh lets go on to some technical analysis. Yeah, so lets take a look at some technical analysis. So right now for bitcoin what were seeing is we have pushed up into my major zone of supply on the daily chart. Now this means its its kind of a level of resistance. Think of it like that, so we are going to struggle to break this and, as you can see, we have struggled to bring this. We came up into this, and this is why you guys need to be subscribed with the notification bell on, because every single day were bringing you analysis like this, showing you these key levels, and another thing is also our patreon group isnt it.
So this is something that we offer to you guys uh, you can go ahead, join the links in the description and youve got two different tiers. You can join each one will give you different benefits, but essentially its a group where you can get involved with a thousand other people that are trading in our group, as well as investing in crypto on a day to day basis were bringing you technical analysis. Webinars uh weve got admins that are doing coin calls so much content and if you guys want to get enjoy involved in that, now is the time to do it. With the beginning of the month. You get that competitive edge. They already deserve definitely and uh you. What we can see here is yeah. We are struggling to break that, but if we take our pivot point, super trend indicator. We are in a buy zone now and guys. Let me remind you, as i do in most videos on the daily chart every single time. This indicator has said by apart from maybe one or two times we have gone on a major major run up and uh. You know one. There was one literally here we went up from 37 000 to 52 thousand. Now we we said by around here fifty one thousand were already at fifty five thousand uh here was by eleven thousand went up to sixty five thousand. So you can see this potential is insane um sort of end of year price prediction for bitcoin.
Where do you think it could be? I personally do think we can hit that six figures, so i do think we can hit a hundred thousand if everything goes well for uh, bitcoin, fundamentally as well um, but right now we are going to struggle here and i think if we can stay above 53 000 then well start to push up towards that 58 000 level and then thats when we can start talking about new all time highs. However, if we do come down, if there is a re test, i think well look towards the 50 000 region as a level which we have. We took a long time to flip it so now well probably bounce on that as a support level and then be able to move up from there and thats, where i would be setting some buy orders. If i was doing that yeah definitely i mean you know. I think that 53k is so important, because that was the first time back in september or early september. It was it rejected that 53k level yeah and then it went all the way down to below 40k for a bit. So yeah 53k is a really important level to look at guys and then, on top of that, a key side called the level is also the the 50k level as well, definitely and uh. Then, if we take a look at ethereum and guys also, if youre interested in trading bitcoin ethereum, you can take a look at buy, but we do have a link down in the description.
You can get some free cash as well. If you use uh the link and you meet the deposit requirements as well as firmex as well theres, some great deals going on so definitely check the links down in the description. Like you know, if its going up or down and thats thats exactly thats one thing, thats a good part of trading right instead of just investing anyway, so with ethereum, then to end things off what we will take a look at is this key level weve been Hitting here we did briefly push above and we made a reach for 3700 didnt quite hit it pushed back down, but we are still looking quite bullish and uh for me as ive been saying now, weve mitigated this level here im, not even going to look at It, what im gon na say is, i think, were gon na be pushing up towards 3 800 as the next target, and i expect to see that relatively soon uh in terms of where we can look to buy ethereum. If we do see uh us come back down towards 3 340 to 3460. That is my next level. I would look to buy at if things came into it. If not, i do think well just push up straight to about 3 800 to 4 000, and then i get really excited then, because we can start to look towards all time highs start to look towards a 5 000 potential for ethereum, and that is very, very Exciting yeah definitely i mean so just to recap.
On todays video guys, i mean um a lot of good stuff thats out there. A lot of positive news, thats continues throughout the month of october, and certainly going to november as well were setting up to have a very interesting q4 for this year. So expect the corrections expect the dips along the way. We will be picking up the corrections and dips along the way, as well and um yeah, make sure to take profits and also do comment down below what your thoughts and opinions are on this format we are testing out. New ideas were always continuously improving, um. The content here for you guys as well yeah, definitely stick around and uh. If you subscribe today, you can say youre, one of the first 200 000 people to do so so anyway, thank you for watching guys.