HUGE BULLISH BITCOIN NEWS | Crypto Uptrend Has Started Again

What is good, my people? We are back again with another gem. And if you've been keeping up with the crypto market for the past week, past couple days, whatever it is, you know we finally had a green week. We finally had some good percentage gains over this past week. I feel like it's been a long 2 months of just looking at my portfolio and wanting to cry, but this past week we've had some green. So I'm going to go over some technical analysis of what are some fundamental analysis, go through the news that's kind of come out around crypto the past couple weeks. Yeah, probably a week, not weeks, probably a couple weeks, kind of breaking down my opinion if I think we're gonna go back into a bull market or going to a bear market or what I think the price is going to do. So the past couple days, if you've been keeping up with the market, we've obviously seen that we have had some pretty green days, some pretty good gains on Ethereum. At one point we was pretty— we was up pretty good on Bitcoin as well. It's kind of stabilized right now, Bitcoin. We've had some good XRP gains. Yes, we just had some good gains. So I'm kind of gonna break down all that really quickly, but before I do, like the video right now because I got gems for y'all coming 24/7. A lot of people have asked for this video, a lot of people have asked for my opinion on the whole crypto market as a whole. I have not made a crypto market or a crypto video in a very long time. I think the last video I made up was me complaining about the fact that crypto crashed. Crashed and kind of explain to you guys why crypto crashed or anything like that. But today we have a good video. So if we hop right into here, this is CoinMarketCap. This is where I come on to look at the price most of the time if I'm not looking on Coinbase or Exodus or whatever it is. So if we look here, we have a lot of green. When I could look at the 24 hours, um, we have had some drop in Bitcoin. Bitcoin at one point was up to $42,000. I think we made it all the way up to there. This is the wrong, um I believe it was up— yeah, $42,270— $42,314 was the peak for Bitcoin this past week. That was, uh, on Saturday. Uh, so the 7% or 7-day gain percentage, we're not up that big because we did drop back down under the $40,000 mark, which is fine. We're still making higher highs and higher lows. Ethereum, my baby, if you're holding Ethereum And y'all been listening to me, I've been telling y'all Ethereum, that's, that's my favorite coin of all time. We're up 12% today, um, we're actually at $2,600, which is absolutely amazing. Um, some other coins that have went up, XRP, we've had, um, some good gains on Uniswap as well if you're holding that. Chainlink is up 21%, which is absolutely amazing. Um, so we've just had some pretty good gains in the past week, which is a good sign just off of that. But there's also been a lot of good news that's come out as well. There's been a lot of things. I never— I didn't make a video about the B Word, um, kind of like that whole show or the whole, the whole process of that. Um, I don't even know why I didn't make a video. I think I was away, but there was a whole thing with Elon Musk, uh, Cathie Woods, uh, just a bunch of big names in the whole, um, investing, stock, crypto industry. I'm gonna go through a couple price points— or not price points, a couple points that they went over couple things that they said that could have influenced the market as well, but that was, like I said, probably a week and a half ago. So if you don't know about that already, then I will break it down for you guys. But first of all, we've had some good news starting off with— this is just one of the good news that's come out in the past week, give or take a couple days. This was posted on July 23rd, yeah. But Amazon is apparently thinking about offering options for people to be able to pay with cryptocurrency. Now Amazon has said this a bunch of other times, and they have just not followed through with it. I'm not sure what it is, if they need to get developers that's going to help them kind of make it— the whole process of buying things with cryptocurrency really smooth. But if Amazon does offer payments using cryptocurrency, it will then validate cryptocurrency's whole brand and name as a whole, which will have a lot more investors coming in, a lot more retail investors, and then as well as a lot more businesses and a lot more big-name people trusting the coin even more because Amazon is one of the biggest companies in the entire world right now. So if Amazon believes in cryptocurrency, it's going to influence a lot more people to have a lot more trust in cryptocurrency, therefore making that step to invest in it, therefore pushing the price up. But right now, the next step that they have taken recently is Amazon has started posting jobs for just blockchain developers and everything like that. We've had rumors before about Amazon thinking about creating their own digital currency. They had some sort of digital currency, it wasn't a crypto before, but it just allowed you to buy books and stuff on the Kindle and everything like that. But as of right now, they are opening— it says 70 openings for blockchain specialists on fortune.com. Honestly, if you ever want to stay up to news with any of the crypto news, literally just type in crypto news on Google. Fortune.com has a lot of good ones. There's also cryptonews.com, there's a lot of good ones as well. But like I was saying, Amazon has put out 70 openings for blockchain specialists. So this could be a sign that they're either trying to work on their own type of cryptocurrency or they're trying to accept cryptocurrency as a whole. And I do believe, honestly, I wouldn't be surprised if they start accepting cryptocurrency. It's just a matter of when. So that's one good, um, bullish fundamental news we've had. Also about the whole B-word, um, talk or whatever it was, Elon Musk has said a lot about cryptocurrency on that, but I'm not sure if we still like crypto, uh, Elon Musk and the whole cryptocurrency industry. You know, the game of crypto, we love Elon Musk. Elon Musk would always— he would pump every coin. Dogecoin, whenever Elon Musk talked about Dogecoin, it spiked up 10%. He put Bitcoin as his, as his profile picture one time, spiked up 15%. He's been pretty good for the crypto market up until he started— Tesla started accepting Bitcoin and then stopped accepting Bitcoin. That kind of started the whole downward trend of all cryptos. That— I'm not gonna say that's the exact reasoning because, you know, we did have the whole China thing. We did have a lot of things that kind of affected the whole downward trend of Bitcoin, but As a whole, Elon Musk did kind of mess with us when he stopped, um, accept— when Tesla stopped accepting Bitcoin due to them saying it takes up too much energy and everything like that. But good news, on— he was talking about it on the B Word. He has disclosed that Tesla holds around $1.5 billion worth of Bitcoin right now, which, I mean, we already knew they had purchased Bitcoin from a long, long time ago. So that was another bullish point that he made. Um, he also has said that SpaceX, which is his, um, outer space— what do you call that industry? But the outer space industry, whatever, like that— they also hold Bitcoin. He did not personally say how much they hold, but, um, I mean, not Ethereum. Elon Musk did say that he personally as an individual holds Bitcoin, Dogecoin, and Ethereum right now. So again, that is another bullish statement made by him that could hopefully, um, give us some more strong foundation to sit on, um, and give a lot more people confidence in the coins themselves. Also, we know the main reason that they stopped with accepting Bitcoin at Tesla is because they said it takes up too much energy. And you know, Tesla is all about being green. They sell, um, solar panels, are about putting out good energy. That's why all their cars are electric. But overall, Bitcoin is shifting to more of a renewable energy source, um, And a lot of like the heavy-duty coal, um, plants that were being used beforehand, before the whole China ban, everything like that, they have shut down, which could also, um, help the whole presentation, the whole look of Bitcoin as a whole not taking up that much energy. So that is another bullish statement made by Elon Musk. I do believe Elon Musk is going to push as hard as he can for Tesla to start accepting Bitcoins back. Of course, there's a whole board on, um, Tesla. He's not the only person that owns Tesla, so it's not what he says it goes. It's obviously people he has to talk to and they all have to agree on it. But I do believe Tesla will start accepting Bitcoin once again. Um, now we've had some bad news as well. There's been an infrastructure bill started by, um, just the US that is kind of trying to regulate crypto more. There have been a lot of talk about regulating stablecoins as well, which would not be good for the whole cryptocurrency market in my opinion. Some people might disagree, but in my opinion, that's the whole point of crypto, is to be anonymous, is to be unregulated, is to be— that's really the whole point of crypto. It's supposed to be separate from the government. But if the government is trying to regulate crypto, then crypto just turns into another version of the US dollar. But we're going to talk about that. But this new bill that, um, is being presented is kind of— it's, it's allowing for the government to see or be able to track cryptocurrency transactions more. Let's say you're on Coinbase and you send $100 worth of Bitcoin into a Gemini wallet. Right now, each company, Coinbase and Gemini, they don't have to talk to each other. They don't have to basically say, okay, this person sent $100 here, so now I gotta put that on paper and write that down and kind of document that. Right now, they do not have to do that, therefore making it easier for people to get away with having to pay taxes on every single transaction they've made on crypto as a whole. But with this bill, it's going to require each and every crypto wallet, each and every crypto exchange to document and kind of tell on each other and put everything down as to what everybody's doing with their crypto. Right now, technically you can get away with a lot of transactions, especially if you're, um, just shifting it from one exchange to another exchange. But with this bill coming out, it's going to make that very, very hard because now these exchanges will be required to do this. But okay, all this fundamental news has been pretty boring. Now I'm going to get into the interesting stuff, which is the technical analysis. Um, let's see, so let's go into— let's go to Ethereum, Ethereum/USD. I see it's called Bitcoin. All right, so here we are on the Bitcoin chart. We're on a daily, um, time frame right now. As you can see we are making higher highs and higher lows now. We were, um, we had peaked all the way up here before, before crashing all the way down to the $31,000 area. We had a good resistance area— why is this typing, sir, please stop— um, we had a good resistance area down here at the $30,000 mark, um, kind of holding above this $29,000— well, $20,000, I think the lowest one was $28,000 um, resistance mark. But most of the time we're staying above $30,000. Um, as you can see, it came all the way down here, came up a little bit, came all the way back here, retest this area again, came up, always making lower highs all the way down to here until we had our lowest low over here before shooting all the way up to the past— well, 3 days ago we finally passed the $40,000 mark, which has been a very big resistance zone since May If we come over here, we touched it right here, touched it again, tried to touch it, did not make it all the way up, but we touched it again right here and it rejected it and dropped all the way back down. And now we are again passing the $40,000 mark. Now it would have been nice if Bitcoin could have stayed above it. Um, it had looked like that on Saturday that it was rejecting this area, but then on this candlestick it looked like it was rejecting this area, but then we see it crash through., and now we're having a little doji right here, um, for today. But I do not think that is a horrible, horrible sign because we still are making higher highs. We passed multiple higher highs. Um, right here was our high, here was a high again, here was a high. We absolutely just shot through it all the way up to here. Now I personally think it might come back down and retest this area right here, which would be the $35,000 mark. Um, which should be completely fine. If we're going to Fibonacci really quickly, um, it's right at the 50%, uh, retracement line, or between the 38 and 50%, uh, retracement line. So if it comes all the way back down here, we might be in for another good uptrend all the way up to the $50,000 mark or the $46,000 mark, um, which would be absolutely amazing. I would actually thoroughly enjoy that. But if we go to the Ethereum chart, Ethereum/USD, Um, let's go on the weekly. Again, we are crashing or absolutely just destroying the last highs that we had. This is the last high we had and we just shot all the way through it and came all the way up here. We're still having a pretty good, um, trend on the daily chart as well. So if we look right here, um, we passed this high, shot through it. Now, um, whenever you shoot through a previous resistance or support it, they— you always have to come down and retest it. So like I said, I think Ethereum might come and crash all the way back down here, um, test this $23,000 zone before shooting all the way back up. Put a Fibonacci on it real quick. Um, this is more at the, the end of the, um, 38% zone retracement zone. But I personally think it's going to come down, retest this area, shoot back up. I do not think it's going to come all the way up here. Just to shoot all the way back down here and hit our resistance again, which has been at this, um, $17,000 or $18,000 or $1,800 mark. Um, so I'm very bullish on the technical analysis as well as the fundamental analysis. Like I said, we do have some bad fundamental analysis, but I do not think it's going to— it's going to outweigh our good fundamental analysis. Then if we obviously go to the charts, look at the charts like I just did, We are creating higher highs, we're breaking through our higher, um, our last highs, and we're just gonna wait to see when our lows are. So this next week honestly is gonna be really big for crypto on the technical analysis side, just due to the fact that we have to see where price will retrace back down to, um, and if it's gonna hold above these zones that I pointed out either with Bitcoin or Ethereum. Um, like I said, I think Bitcoin might come and retest this area over here here before shooting back up. Um, if not, it just wants to shoot all the way back up to $63,000. I will take that, Mr. Bitcoin. But, um, this is just a little quick breakdown of what I think the crypto market is doing right now, kind of catch you guys up to date. If you guys did not know about any of the fundamental news that's coming on with Amazon, or what Elon Musk or Cathie Woods or, um, any of the other people had said about crypto, if we're, if we're bullish, or if I'm bullish on crypto, or if I'm bearish on crypto Personally, I still— I told you guys a long time ago, I do not think we were in the end of the bull market. I think we were having a really much-needed retracement. No matter how much it sucked, we still needed to have a little retracement because we had so much growth in the past year. Like I said, if we look at the yearly chart, um, well, we can look at the monthly chart. We're still up crazy compared to— this is the beginning of the, um, if we go to last year, this time, which is July, we were all the way down here and now we're up here. So we made a pretty good— obviously a pretty good gain, 244%, 250% gain in the past year. So we had to retrace down, um, just for us to go back up. But I do not think it's the end of the bull market. I think we're still in a nice little bull market. I'm predicting that end of the bull market will be around the end of the year, November, December time. Right now I still think that we are going on an uptrend. I am very bullish on Bitcoin, I'm very bullish on Ethereum. Um, so yeah, let me know what you guys think in the comments down below. If you guys are bullish, if you guys are bearish, if you guys sold all your crypto, if you're gonna buy more crypto, let me know in the comments down below. And, um, yeah, we'll see you on the next video.