ATTENTION BITCOIN HOLDERS: IT'S DONE!! […..]
Thank you, oh, i am in shock right now. Did you see this bitcoin right now is doing something bigger than the amount of disappointment your parents feel for giving birth to a moon boy and with the fed and jerome bowel raising magoo levels by 75 basis points? Will the carnage stop or has it just begun, and is this the first time in history that this has ever happened? Yes, and when i tell you what it means, you will want to kiss your grandma right on the lips so put down your tissue drive over to whatever prison daycare your grandmas living in and give her a big fat. Sloppy passionate sensual kiss because its the very least she deserves for giving birth to the monsters that created you a degenerate, moonboy im your host spuds mcdoink and is today the day weve been waiting for, has bitcoin bottomed. Everyone thinks the answer is no, but what, if i told you something very big in the channel make sure to hit that like subscribe turn this ghost notifications never miss these absolutely time sensitive alerts and as well, if youre interested in any trading bonuses getting alt coins. Anything like that make sure to check out the links below as well, if youre interested in earning free society and ada awards for the next 35 epochs, specifically for the ape society tokens all you have to do is delegate to our pool below. It takes two to three minutes: stays in your wallet, absolutely no risk if youre, holding ada and without any further my goo lets dump it unbelievably big, as the entire planet was waiting for the fmc meeting today to see what the rate hike would be and the Results came back as 75 basis points.
This is very big for bitcoin, uh and actually, just hours ago, bitcoin was touching its tip as close to the 20 000 level as it has, since it absolutely busted through it back many many years ago, uh at the very end of 2020 and whats. So big about this is uh a million things you know. Is it possible at this point that bitcoin has seen enough relief uh? Realistically, most people will tell you that until inflation begins, decreasing uh theres, really not a chance that bitcoin can have any sort of meaningful recovery and as well. Many people will tell you that until uh the next halving there really is no hope for an uptrend. To begin for, bitcoin and um at this very second, it looks as dumpy as dumpy as it could be, and, looking at any of these charts, well tell you the same thing i mean if we go to the monthly chart as well. Um again, like we talked about yesterday, it finally looks as though um over the next, or at least it looks as though we have finally seen enough dumping for this. This dump is so to resolve. Uh. This monthly chart is absolutely wild and uh. This chart actually does not go back that far, but on this chart you know it looks. It looks as though its even possible that we even come down and uh for the first time in history for bitcoin. Ethereum has already done it, but for the first time in history for bitcoin actually break the all time highs of the last bull cycle that we saw back in december of 2017 and basically, what that should tell you if that does in fact happen at this.
Very second, we are only about another 10 percent move to the downside. Away from that and earlier today we came within, we came within uh, actually uh. We got a lot closer than that were about five percent away right now and we got within less than a percent earlier today, as we were uh bouncing right at about just a couple of dollars above 20 000.. So what that should tell you is that all models, most models are broken. Most models were showing us that we wouldnt even get close to this um. You know whether youre talking about a lengthening cycle, whether youre talking about all of the fractals, that you see posted on twitter about uh, 1, 000 new ones per day, because theyre absolutely meaningless whatever youre. Looking at all of those models would have told you that this would just not be possible, but it looks as though not only is it possible, i mean still at this point. I do think it is very likely we could still see that move down below 20. 000 um until realistically uh the macro environment changes and that hasnt happened yet um until we see inflation change. But if you really want good bitcoin analysis, then you really have to look basically outside of crypto. You have to look to see what the world is doing. You have to look to see uh i mean even the housing market. I think a lot of people are maybe not looking at to see how everything is doing, because, basically right now, its very unlikely that bitcoin will complete a macro reversal until we see that start to change.
However, one good thing is that i still believe we can see bounces and we can see nice moves to the upside. Despite this um and you know, if you would look at the chart for the last eight months. Actually, you would see that we havent really seen that at all. We did. I mean to be fair from the beginning of 2022. Up until about about the first three months of 2022, there was a 40 bounce from about the low 30s to the high 40s low 30 000 range to the high 40 000 range. But literally aside from that, the bitcoin market has been only dumping since the very beginning of november uh. So for a solid eight months, bitcoin has only dumped aside from a few months of mostly sideways but uh. At the end of the day, a nice little multi week rally to the upside where it got rejected the 200 day and continued plummeting, where most recently weve gotten rejected at the 21 day moving average. Yet again, back at the very end of may very beginning of june, this month, um but yeah i mean again, if youre looking for something like that, weve weve bottomed on the rsi, even on the dailyr side, its very low but specifically uh. Yes, the weekly, the monthly all of it is just insanely uh like bottomed out, the lowest theyve ever been uh. If we go actually to again the weekly chart, the weekly rsi is like the lowest its ever been in recorded history.
So again um, you know i. I still do think we have the chance of seeing some sort of bounce uh again. A lot of people were talking about june as being potentially a very bullish month, but uh not only has june not been bullish. Its been the dumpiest month in history, but whats good about this is were literally getting to the point where theres, potentially not even any more room to dump uh. For example, if we look at the crypto fear and greed index were in single digits and we have been uh last month. It was a 14, then a 17. Last week we had an eight yesterday today, a seven as it got literally within less than a percent of breaching the all time highs from 2017 for the first time again in history, itll be very interesting to see how this update that happens in just a few Hours unfolds as well um, but again before we get into these charts here, fed announces the biggest interest rate hike in 28 years in bitcoin falls, uh raise interest rates by 75 basis points or three quarters of a percent, its the biggest hike in roughly three decades. Okay, in an effort to bring down inflation, that is destroying the economy, but they will raise to about 1.5 to 1.75 percent. According to the fed and uh bond, traders are pricing in a range of about three 3.25 to 3.5 by the end of this year, implying a very rapid and harsh pace of monetary tightening and realistically this is going to continue.
The the unlimited money printing is what gave rise to the absolute bullishness in tech stocks and bitcoin, and now were basically just seeing the opposite of this. But the big question is again guys how low thats i find that so interesting because again losing money, isnt fun. Seeing all this happen is not nearly as fun as just printing unlimited money and gains with with crypto, like we saw over the past few years, um, and especially because it was timed with the cryptocurrency bull market or bull run with the having cycle that we usually See right, but was that just a fluke was again because we only have a few having cycles that have have happened, its not like. We have 20 years its not like. We even have 20 uh. Having cycles, we literally have like three uh having cycles to go on, and you also have the genesis. The creation of bitcoin, which again a lot of people, would argue that wasnt really a cycle. But the reason i find that so interesting is because we only have a few um and now were on the potential. You know what i, what i think could be very interesting is that if we have a recession that might last a couple of years uh a lot of people are expecting another bull run around. You know 2023 2024 uh going in line with the having. So if that did not happen where, if we didnt get a bull run in line with the having or we were just in a very uh poor macroeconomic environment, then lets say we didnt get a bull run.
That would literally destroy every model for bitcoin, because one thing big about this cycle is that most models were destroyed. Remember the stock to flow model uh. You know nobody talks about that anymore, because it was one thousand percent wrong um and then you can. I mean every other model was basically smaller than that in terms of popularity, but all of those were wrong as well. Basically, the point is um at this point. Uh and again, if its like this forever, then bitcoin failed in my opinion, but i dont think it will be like this forever. But if bitcoin follows this forever, then really, how is it accomplishing its goal and thats exactly you know one of the reasons i think it cant. If it wants to succeed, it literally cant, otherwise it failed anyway, why its so interesting and what i think is most important about all of this is that we are so close to breaking yet again the idea that bitcoin cannot go below a previous all time. High um and if it does because this could happen literally any day it could happen tonight i mean again last night, um sure many of you uh looked at the market went to bed and then you either watched it live or you woke up and saw it. But bitcoin set another a new low. If this is the third day in a row, it set a new low in this market right significantly, actually no wait um.
This is actually like the tenth day in a row or eighth day in a row, its been setting new lows every single day, so if it doesnt set a new low today, thats actually unusual. So i mean it wouldnt be crazy to expect another another new low. Today, until we actually put in a higher low and then begin seeing signs of reversal, could that come at any moment, yeah absolutely, but at the middle or at this very second, were literally in the middle of the bloodshed, were literally in the middle of this dump. You know just because its not dumping every single minute doesnt mean we arent. We are dumping every single day. So again until we see an actual bounce, expect more dumpiness thats its that simple and as well the s the dxy, the dxy continues to show strength um. So really every single day is really important to be watching. This is very exciting, its not exciting in the sense of like a bull market where youre just printing money, but its very exciting. Because this. What were looking for right now and what we have the opportunity to see is the very very bottom of this market or uh, a game changing cycle changing event where uh, basically, all bitcoin analysis has been proven wrong, so buckle in because every single day right now Is honestly incredibly exciting if you understand what it means for uh for cryptocurrency lets, get a new channel make sure to like subscribe turn.
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