You can see. Bitcoin was sitting all the way up at around sixty two thousand dollars. We fell all the way down here to about fifty seven thousand. We had a very similar event right here, sitting around sixty three again, all the way down to about fifty nine thousand nine hundred dollars. So that is something to note. However, on the flip side, you can say that we have had these dumps bought up extremely fast, which also shows that there is massive buying pressure as well. So this is something good for bitcoin in fact, im hearing that potentially there could be billions and billions of dollars coming into the bitcoin market cap within the next few weeks. I want to talk about the significance of this. What this means for the overall bitcoin price action and not to mention an untapped territory that could suggest an extra 700 000 to the bitcoin price, not the market cap to the actual price, so were talking a 760 000 bitcoin ill. Go into that in just a bit, but also there is some good news that came out which could be interpreted somewhat negative and some people are saying time is running out. Get your profits in get out quick because there could be a massive dump coming right around december 25th christmas time in the u.s, so were going to talk about what this all means ill, let you know exactly what is going on and also i just want to Give a massive shout out and congratulations to everyone holding elrond elrond eagle, just hit an all time high, and you know this has been one of my favorite projects right up there with polka dot.

In fact, we mentioned it when it was still just the erc20 token. At .005 cents with a market cap of 56 million, so congratulations 314. Today, hopefully we can find more of these gems and without further ado lets dive in and lets have a look first at bitcoin and then well move on to the rest of the stories. Okay, so, as you guys can see right here, obviously we are still being held down by this resistance. Ive been saying this for every single video ive put out for the past week, so im not going to keep repeating myself. If you guys want to go see my analysis, yes, there still is the possibility of bitcoin falling down at least reclaiming somewhere around this blue zone territory. We could still have a 55 000 bitcoin. However, i do still remain bullish, so what im looking for is whether or not were either just gon na have a breakout out of this channel, which in that case, that would be the breakout we were looking for and you could potentially look to put in a Long, if youre, if youre playing breakout patterns or kind of the safer thing to do, is wait for the breakout retest or simply wait for us to fall down to our blue zone territory so, like i said its still not out of the cards just yet. I would be looking to pretty much long right here, uh around that 55 000 level, actually its it to be more specific, its actually closer to its actually closer to 54 000 to be totally honest, um and then, if we had the breakout, i just want to See a retest of the resistance, flip support and the bounce out level for that, as well um.

As i told you guys, we have the illiquid supply at an all time high, so we have the bitcoin price moving to an all time high. We have the illiquid supply at an all time high. This could be setting it up for a massive moon shot, and one thing that i need to point out, obviously looking historically, we have bitcoins daily active address. Count has historically been a very reliable indicator for the price of bitcoin to rise due to an increase in the number of accounts or addresses. Excuse me. Usually, this means that theres, more people interested theres, more people using the network, theres more people, hodling bitcoin, whatever it is, and according to sentiment, you could see quote right here. They say: bitcoin has had five straight days, excluding historically slow weekends of over one million active addresses interacting on the bitcoin network. This rise is an encouraging sign that another all time high will inevitably be tested and also according to glass node. If you look down here just talking about the bitcoin lightning network, they say it keeps on growing. Around 9200 new nodes have been added in just this year alone. This is a 111 growth rate in operating hardware, so you got to look at the fundamentals as well as the price action. I take them both equally and having a look like um. You know dylan leclair, pointed out the supply held by entities with 1 to 10 bitcoin in their wallet is at a new all time high right, so we are seeing massive whales, even though weve seen them try to sell right, theyre trying to sell over here, but Every time they sell it keeps getting bought back up every time they sell.

It keeps getting bought back up, which is exactly why i say if we do come down to this level and we get into this blue zone territory. Im not freaking out im. Looking at that as a buying opportunity, because you are seeing that yes, of course, some people are trying to take profits, this thing is not slowing down. We are full on bull market mode, guys, im telling you now is not the time to be shorting. If you want to try to short, maybe youll get lucky, maybe youll get your 15 minutes of fame. You know shorting the bitcoin price, but ultimately what you want to do is look for long setups. In a trend. The trend is your friend until the end. As soon as we get a trend reversal like i said we had the trend reversal once we broke down and had the lower level and came into the 30k, then i said short the resistance, but as soon as we broke out of that level, then you go Back into longing right, you dont want to fight the markets. People try to fight markets, i dont know why they do that it doesnt make any sense. The trend is your friend until the end and by the way, guys, if you are looking to long or short bitcoin, i do have recommended exchanges below lots of bonuses over five thousand dollars over on buybit femex, as well as prime xpt. 15. 50 bonus with the code crypto zombie, so you dont want to miss out on that.

Thus a lot and not to mention they also have really great spot trading as well. 10. A month for spot trading, you pretty much cant beat that so check that out below guys in the description. But you know talking about what box mining said now box mining. He tends to kind of have his ear to the ground over in asia. He hes. You know hes. First of all, he can speak the language hes more familiar with whats happening over there and he says that hes hearing that billions of dollars are going to be deployed into crypto over the next few weeks. Big funds are aggressively growing and raising new capital in sane right now kind of talking about this a little bit. If we, if we actually have a look, we have seen the fact that the bitcoin dominance has started to fall somewhat right. So what does this mean? What is happening? Well, essentially, we have bitcoin leading the rally, and then they move into the altcoins. The same thing is happening for ethereum. Ethereum is still sitting at an all at an all time high, even though a little bit lower, but its still uh. You know on the on the mid to macro sitting higher than where it is now. I wouldnt rule out a potential pullback to this blue zone territory as well having ethereum fall somewhere between 3600 and 3700. But ultimately, you are seeing these trends moving upwards and continuing to go higher and higher.

So this is exactly why i said getting back to hearing billions of dollars getting deployed now over here. So we had kathy wood shes from arc, invest shes the ceo and she was over on saxo bank switzerland. I actually tried to download this video. I dont really know whats going on with it, so i wanted to just play this clip for you super quick to show you why she believes that bitcoin is the next big thing and how we could actually get to that seven hundred thousand dollars, plus on top Of the price right now, we believe emerging markets are going to embrace bitcoin uh get away from their many of them have corrupt regimes, and they dont trust their monetary authorities. They dont trust their politicians generally, and so we think emerging markets are a huge use case here and, and we believe that that use case alone, if we take away the um four major money, supplies uh that probably arent going to change that much. That use case alone, uh will add. I believe the number is 200 000. if it were adopted fully throughout the emerging markets, ex china uh that that would account for 100, 000, 100 to 200 000, and forgive me i dont know that which one it is. I i do know if institutions uh were to allocate five percent of their portfolios globally ex china, that that use case alone would be 500 000, in addition to the 60 000 in bitcoins price.

This is much like what happened with pension funds when it came to real estate in the 70s, it came to emerging markets in the 80s and 90s into the 2000s. We think this is the next iteration. This is the diversification into a completely new asset class. The first truly new asset class since the 1600s, when equities launched so imagine just five percent, adding that much to the overall price, the overall market cap of bitcoin and imagine when things really start to catch on when people really start to realize what is happening. With this global inflation and how bitcoin truly is the solution to a lot of the global financial meltdowns that we see on a daily basis across the world? So very, very interesting, so getting off topic a little bit just wanted to talk about some altcoins super quick. So obviously, congratulations to everybody who bought elrond. We had some very, very good picks in the beginning of 20, uh, 2010 elrond and matic and polkadot and kusama were some of my biggest and um guys. Today i have to bring it to you. This is clearly the next token zombie enu okay, so some people reached out to me and they were like how have you not talked about zombie enu? This is actually kind of funny because crypto zombie zombies, so i dont know what this is. I dont not taking this seriously. It says: um a twisted shiva inu infected with a rare disease that transformed him into a zombie dog.

So you guys can check this out uh. I may have to buy some of this just because i think its a pretty funny. Not expecting much about it, but okay, fine guys in all sincerity, um zombie, enu xenu! You guys can check it out over here, its uh zero, zero, zero, zero, zero one, two or whatever, so its just a joke im just playing around, but i had to bring it up. It was funny somebody mentioned that there was a zombie enu, but in all sincerity, if you guys are looking for a giveaway, i guys i told you about monkey ball, and i told you to look at that. Launch pad right. Solana has had an absolute run lately and the monkey bucks nft giveaway has officially launched 500k mbs plus nft airdrop. You can take part in this uh check it out. Just go to monkey ball game, twitter, follow them and yeah. You can literally just get some free tokens so anytime they do some free tokens check them out. I dont know if you guys remembered ontology. Okay, that was a free drop that did a 10x. Anybody, remember uniswap, okay, they were giving those away for free. Remember how well that did so. You know just check it out its absolutely free and um. You know getting back uh off of uh. We will talk about more alt coins in the upcoming days um. I was obviously kidding with the zombie enew thing, although i i do think it is still funny and who knows you know you never know you never know what whats gon na take off in these markets, but um you know some people were mentioning that we did Have a correlation with with the drop of bitcoin recently, when we had the federal reserve mentioning that they were going to start tapering this month, which means theyre going to start sort of pulling back right.

They announced that bond purchases will be reduced to 15 billion each month. Interest rates, however, remain unchanged for now, according to a decision made by fed officials, but the central bank still sees inflation as transitory contrary to the expectations of many financial analysts or essentially temporary, saying that theyre not looking to make this a long term thing. Some people are saying well as soon as they stop, then that could be the bubble collapse and i mean just having a look right now, guys i mean look at this: do you guys see whats happening right now? This is happening live. This is a live chart right now of the s p. 500. Breaking all time highs, not even looking like it wants to stop absolutely pushing on this massive green candle right now. So what does this mean? Are markets? Getting overheated are things getting out of control are? Is there just too much exuberance across the board in stocks and crypto and everything else, and all these well its a possibility? Right i mean it could be or or on the flip side, it could just be people waking up to essentially getting out of fiat and getting into anything getting into shiba inu dog tokens, instead of holding that dirty dirty fiat right. Well, if we have a look over here, there is one positive bit of news that could be twisted into a bit of negative news and thats the fact that the grayscale bitcoin etf commission will potentially take place on december 24th.

So the news about the conversion wasnt really welcomed according to commentary on a lot of social networks, users and previous grayscale customers are not happy with the negative premium that the fun is trading since direct bitcoin exposure is a more convenient solution for retail traders. Grayscales fund, with an average of about 20 premium, is losing its reason for existence, since institutional investors are able to use the new etf by pro shares and receive the same exposure with lower premiums and roll out costs. However, according to the notice of filing within 45 days of the date of publication of the notice, essentially we will have our answer for this hearing and like they said this could fall flat on december 24th, the day before christmas in the u.s, which a lot of People are saying: could we have a massive christmas dump right often these things are by the rumor, sell the news keep in mind. What does an etf offer? Well, it offers the ability to long, but also to short, so more people will be getting exposure to short exposure to short bitcoin. So you know if bitcoins at 100k, you know on december 23rd and then these guys get the green light to start longing or shorting. They could short right. It could happen now, im not saying this to freak anybody out. I just want to say i told you let you know so youre all aware of this, so youre not surprised if we do have a crazy flash crash around christmas, but that being said, i still think that, regardless of what happened short term ive been saying this For over a week now, even if we pull back, i still think were massively massively in a bull trend, and i think if we have a pullback to 55 great opportunity to long probably the next level were looking at is around 75 000 to 80 000.

. I talked about this in my video yesterday, plus the fact that were now seeing china look to potentially unban bitcoin mining, also indias second, most valuable. It firm may launch bitcoin trading if crypto is legalized in a statement down here. They said obviously um and this is paid them thats. What theyre called theyre the second most valuable internet, firm, estimated at around 16 billion dollar market value and uh yeah. They dont deal with bitcoin, but they did say quote if it were to ever become fully legal in the country, then clearly there would be offerings that we could launch so they do want to get involved its just a matter of you know these countries sort of Reversing their stance and figuring out that they are getting left behind and finally, i have to end on this news. Being someone from new york, we do have new york city mayor, elect eric adams, saying that he wanted to look at whats, preventing the growth of bitcoin and cryptocurrency in our city. He does want new york city to have a cryptocurrency and if, if i can hear everyone out there saying, oh you know he said bitcoin, he said bitcoin ill actually play the clip right now uh. This is from bitcoin magazine. So you can listen to this right. Here were going to bring businesses here were going to become the center of life science, the center of cyber security, the center of self driving cars drop homes.

The center of bitcoin were going to be the center of all the technology. Miami you had. Your run were bringing up so sorry about the connection issue guys but uh yeah. You can see he talks about bitcoin. He says miami were coming for you and uh yeah. So, essentially guys that is it for today, having a look once again at the total crypto crypto market cap. We have broken out of this giant ascending triangle. This is very good uh we have pulled back slightly. People are taking profits, but at the end of the day i am definitely excited about bitcoin and cryptocurrency. Let me know what uh, what projects are you looking at, what alt coins are youre looking at? Are you selling? Are you buying? What do you think about this potential christmas fud? Let me know about that in the comments below and, of course, if you guys havent watched these videos popping up here right now, take your finger.