We just said i think its 129 000 roughly a coin average price of 30 700. spent about 4 billion on it spent about 4 billion on it spent about 4 billion on it within a decade. Crypto and blockchain technology will be the 12th section is that we are not buying this dip uh because its not a dip. I cannot believe the secret has been revealed now. We know why bitcoin more than likely plummeted massively below 20 000. All the way into the 17 000 range just days ago, and is there more to come or was that the big chalupa everyone on the planet is looking to time, bitcoins bottom. But what if i told you this one piece of information is hiding right in front of our thighs, so sit down, grab an ice, cold juice and think about your grandma, because this is where things get big. Bitcoin just did the unthinkable and with price, teetering right around twenty thousand dollars. Is this the secret weve been waiting for? I think it is into the channel make sure to hit that like subscribe. Turn on those ghost notifications, if youre interested in any bonuses or deals, make sure to take advantage of the uh. Currently over 16 000 bonus uh with trading getting alt coins. All of that below, as well. If youre interested in staking with our pool make sure to do that as well to earn double the rewards and without any further magoo lets dump in unbelievable as the reason for bitcoins mega dump out has been unveiled uh.

The big question now is, you know, could we go lower here? Is this the bottom? Are we heading down to roughly around ten thousand dollars like many uh much analysis and many people are saying, or in fact is this actually not the case? Is this currently actually right now, potentially the best case to buy bitcoin the best scenario to buy bitcoin thats were gon na be talking about in this webisode. But if we take a look here with bitcoin chart, yes uh alongside this massive volume uh, we do see bitcoin at this very second. It did dip below 20 000 today, but currently, its still hovering right. Around 20 000 us dollars, where theyre absolutely as expected, is a lot of demand for bitcoin at 20 000., and even though we dipped our tip a little bit below 20 000. Just a few days ago, on the 18th and uh 17th down to about the 17 000 range, the mid 17 000 range bitcoin has so far held those levels and um. You know what are the chances now that the shakeout is finally over. So one of the first things i want to talk about here as well, uh, some bearish analysis. Some bare sentiment is that bitcoin could plunge even further to about 13 000., and in my last, like two updates, i talked about 12 000 being a very good area for bitcoin to ultimately bounce because im not convinced just yet that the shakeout is done.

Considering that bitcoins price is heavily tied to the stock market right now and as we all know, the stock market is uh, not looking the best completely getting dumped on getting uh bloodied and bashed and getting a reach around surprise, 2000. Absolutely but uh ian harnett, the co founder of absolute strategy. Research said past crypto, rallies show bitcoin tends to fall roughly eighty percent and uh. You know 85 percent takes us down to about 10k, but 80 is right around 13k, so um, you know based on just past analysis. One thing i would like to mention about this is that i think past analysis at this point has kind of gone out. The window, if we expect all bitcoin crashes, that take us down about 85 or right around 80 to 85 percent uh, then we should also expect that our prediction models to the upside would have worked as well and as im sure many of you know whether it Is the lengthening cycle whether it is the stock to flow model, whether it is the super cycle whatever it is? All of those did not happen and in fact, based on previous returns again, a lot of people were expecting that bitcoin would go a lot higher than 69 000 nice during the bull run and it didnt so that model didnt work. So i asked you know if the upside targets were not fully met. What makes you think we also have to drop as low as we would drop.

If say, we did hit 100 000 or something like that right. If were not going to get really pumping to the upside, why is it guaranteed that we have to get really dumpy to the downside? The only reason i think is because again of the broader stock or the the broader macroeconomic uh kind of background uh, but if were going to be following the stock market and going into a giant recession and stuff like that, then why would it stop right? At 85 percent, either uh were kind of done, dumping now or we could in fact go much lower. I dont think 85 is some kind of magic percentage where bitcoin could drop. I think its pretty meaningless to be fair, um and actually were going to go into exactly about this liquidation or this this move, but uh even more importantly, honestly, miners have started to dump their bitcoin holdings and the deteriorating profitability of mining has forced public miners. To start liquidating their holdings and you can see as of may uh – lots of dumpies uh lots of big dumpies. Here you can see the share of monthly bitcoin productions sold reached about 100 in may, where its usually right around like 20 to 30 percent. So um. I mean thats gigantic the the pressure, the selling pressure that miners the miners put into the market is gigantic and has always been very important for bitcoins price. It has always been a big factor and um with bitcoin price going so low.

It is not profitable for a lot of these miners to continue mining, meaning miners are going to have to stop mining, so um thats, just one big key to the puzzle, but as well before you get into the bitcoin charts enormous outflows from the largest bitcoin etf May have triggered a bitcoin crash, the largest bitcoin spot exchange traded fund lost half of its assets last friday, which could have exacerbated bitcoins crash on saturday. The purpose bitcoin etf saw an outflow of almost 25 000 bitcoin on friday, uh the most severe redemption a single day since the fund made its debut on the canadian stock exchange over a year ago. The outflows mean that the fund had to sell about 500 million or half a billion bitcoin at friday at fridays, price adding to the cell pressure an already shaky crypto market. So they had to do that on top of whats already been happening. The enormous outflows are likely caused by a for seller and a huge liquidation. The for selling of the 24 000 bitcoin could have triggered bitcoins move down towards 17 000 and you can see the gigantic outflow and the massive price drop we saw there and with bitcoins price again. I think its very important to note this uh this uh. This pattern that again, i personally think this. This fractal is more valid than most fractals, that ive seen. Okay, no fractal is guaranteed, obviously but um. I think its very important, and and again you might say that this was due to a black swan event.

Yes, well so is this uh the entire crypto space is collapsing, or at least the companies? The centralized companies of the crypto space are basically collapsing right. Bitcoin is not collapsing. Price is going down, but uh yeah, the companies themselves that are uh basically playing with with fire, are collapsing and as well before we continue with the charts. I thought this was interesting. Where are all the women was at the very top of reddit today? Think about all the women you know: why is it such a low percentage, my analytics and ive shared this before, but my analytics and everyone actually in the crypto space, its all identical its about 93 male 7 female. So if youre a female watching this absolutely very big uh, hopefully more and more women join, but you know why is it i i dont really know i dont know why i mean i guess cryptos a little more nerdy im, not really sure it is. It is nerdy and a lot of people that, like love a lot of the spaces like likes video games and stuff, i dont know for some reason. People in crypto, for the most part, are like middle aged men and it just seems to be what the case is, but um that is one huge demographic that im excited to join because again uh. I think itll make a big difference to the space and theres uh an overwhelming lack of diversity. In crypto i mean for the most part, it is very much middle aged males, um thats.

What my analytics show thats, what every creators analytics that ive ever seen have shown in cryptocurrency uh, you know makeup tutorials on youtube are usually mostly women watching uh car videos like sports car videos are usually mostly men watching and crypto is also mostly men watching. So hopefully that can change so, if youre a female watching this, maybe send one of your female friends a screenshot of all the money, youve lost with crypto um and maybe theyll get interested in losing money as well uh but yeah. We take a look on bitcoins chart here again. This is just with ginormous and um. I am long here. I have been long with bitcoin here. Like i said a few days ago, my i had a lot of buy orders around 21 and 22 000 which did fill, but i was not expecting this liquidation all the way down to about this liquidation candles down. Quite this low, very impressive um. But at this point yeah, i do think there is going to be at least some sort of rally much bigger than than this may, which was not even a rally right. We saw a massive stair step down and no rally whatsoever um. I personally just think again. I think its were gon na see more of a scenario like this uh, where we see a stronger rally after continued dumping. But again it is very dependent on the stock market, which looks as though it might be able to gain some strength here.

The dxy looking weaker at this very second currently testing this long support if it flips support. But again we have some very bearish diver divergence playing out that again, i think, is very likely to play out. But again, ultimately, i think the lowest bitcoin could go is about 12 000, but i personally im right now at this moment again. This can change day to day which it should because new information comes out day to day, but i do believe that uh at this point its if we hold this 20k range uh, a move back above 30, i think, is – is in the cards ill see you Guys new channel make sure to hit that like subscribe. Turn on those ghost notifications, never misses absolutely time sensitive alerts as well. If you guys are interested any trading bonuses, we have three separate links for exchanges: a total of about 16 000 free in trading bonuses and deposits and getting alt coins uh below. If you want to trade uh spot derivatives whatever. It is absolutely very a lot of great options there as well, if youre interested with staking with our pool, we also have a competition uh or we have a a troop for the competition of an 8 million prize pool. So you can sign up for that below without any further ado thats it.