Bitcoin - To $1250 Soon - How Bitcoin Holders Can Profit

Hey you, welcome back to the channel. And guys, today I want to talk about Bitcoin a little bit, uh, where we think the price might be headed and what's going on around the news with Bitcoin, technical analysis, and some fundamentals. So, um, some are predicting that Bitcoin will hit about $1,200 range Um, which is pretty much on par with where I believe the supply and demand levels for Bitcoin are at. Uh, my, my prediction is, is a great deal more bearish than that. I'm looking at something like $800 to $1,000, but we're going to get into that today. Uh, talk about what that means for the cryptocurrency markets and also talk about some options What we try to do in our content is we don't, we're not into FUD. When we come up with ideas or do videos, we try to look at all the data that's available in an objective way and try to present and give you all the best information we can on how to approach this market. So, You look at some of the technical analysis indicators. This is over the course of the next month. You see some sell signals here, more sell signals, very strong sell signals. And this is, this is in line with what a lot of technical analysis being done in Bitcoin. People are coming up with a lot of smart money's coming up with, and sometimes that's when we have to listen. Now, Um, what I want to talk about in particular is just not the bearish state of Bitcoin, but hopefully some solutions and options, uh, that stay within the realm of Bitcoin. And we're going to talk about that as well. So here's the problem. Of course, if Bitcoin goes to, um, $1,200, of course, more likely 90% of the cryptocurrencies are going to be pulled down by this. These cryptocurrencies, these altcoins, aren't aren't very robust or resilient or built to take the stress of Bitcoin, when it goes down, it's pulling them down at a more exaggerated rate than what the value of Bitcoin is. And of course, that's a problem for all those altcoin traders that are going to have to face reality with these altcoins. So not every altcoin, but about 90% of them are probably going to be affected by this. Let's talk about why this is happening and why we might need to come, come to terms with why predictions like $1,200 and $800 to $1,000 might be what the state of affairs is going to be. So it kind of goes back to where I start off with this story. If we remember, the Bitcoin scene is kind of reminiscing at this stage with the California Gold Rush, right? In the midst, in the beginning of the California Gold Rush that started in the 1800s. If you don't know what the California Gold Rush is, it's when people start to discover a lot of gold in California and they would make lifetime investments on land to try to find gold. So they would invest all of their life savings in some cases on a parcel of land that may not have, or may have very little gold to no gold at all on it, in hopes that they could, you know, strike it rich or be prosperous. And I think Bitcoin early days, the last few years, fell deeply into that. And I think 2019 is the year of reality, and I think it's the year in which we understand how supply and demand affects market conditions. So again, with the example of the gold rush, in the beginning what we got was we got, uh, basically a lot of hype. People find a little bit gold here and there, and people thinking that it was a motherlode of gold someplace. And so everybody rushed in, uh, boosting up the, uh, the value, buying all this land that was in some cases worthless or not worth what they were paying for it. Because in hopes that it was gold there, right? That that was the area of the gold. And Bitcoin is in a similar situation right now where it's greatly overpriced in my opinion. The technical analysis, a lot of people who have been pro-Bitcoin have drawn back off Bitcoin now. Uh, you know, I think they're seeing this reality now, a reality that was always there, but I think many of us blindly chose to ignore because we were hyped up the same way as the gold prospectors were during the California Gold Rush, and it's hard to see reality, uh, in those, uh, situations. So, uh, to understand what's driving the price here, we're going to talk about supply and demand a little bit. Uh, we're looking at technical analysis right now, but without fundamentals, understanding supply and demand, technical analysis is to me a kind of like a pseudoscience, right? Because the problem with technical analysis is that at any point in us reading charts and graphs, certain incidents can all of a sudden come up into the market that totally changes that dynamic. So looking at charts, history, past, ago, and trying to make them relevant to today's, what's going on in the market. You know, there are behavioral patterns that these charts are taking into consideration and we're seeing a reflection of that. But I would, I would bank on fundamentals and supply and demand any day of the week. So here's what we need to understand. The, the highest demand for Bitcoin was around when it was between $800 and $1,000. That is because many of the nations that suffer from hyperinflation, many places where people were unable to take their wealth and money out, uh, there is a certain amount of volume that goes on that is related to those things. Um, and A lot of us feel after the Chinese government got involved with these, um, China got involved in the mining monopolies and, um, the control of mining, uh, in China for the most part. Many of us, uh, believe that, uh, what we're looking at now is a super inflated price of Bitcoin that is beyond the demand, right? The problem with the hype train is everybody's getting off the hype train now. The ICOs are done. They fueled a lot of hype train as well, bringing new money into the markets. So all of that is over and that's done with. And so now we're going to be dealing almost with raw supply and demand factors. And that's why we believe Bitcoin is going to hit a price of about $1,200. Now unfortunately, and I, well, that's what many of the technical analysis believe and people who do a lot of research in these cryptocurrency markets. You can do research and find out who some of these big name people are, but I've been looking around. Most of them been saying similar to the same things, a lot of them that weren't saying that before. Um, however, again, my prediction is it's a lot more grim than that. It's about $800 to $1,000 based on some of the things I just mentioned earlier. Now the reality of that, or the unfortunate situation of that, is if you were buying in at Bitcoin a lot higher over those prices, then you're probably going to suffer a loss. Um, the situation is, and more likely is, that Bitcoin is going further down, not up, and it's probably going to stay this way for a long time, pulling all the other altcoins down with it. Now, uh, what are some of our options at this point? And, um, I want to talk about what I think some options may be and why I think they might be good options. Um, And, um, I wouldn't really call this financial advice because what I'm suggesting here is not investing in something else or buying something else. Um, and I'm going to explain to you what I mean. So with the supply and demand factor of Bitcoin now, I believe moving closer to the proximity of where it should be. You know, meaning that it's not going to be going up, in my opinion. That's going to continue this downward trend over the next several months to it stabilizes around probably $1,000 to $2,000. Um, that doesn't make a very bullish situation for, for Bitcoin and people to gain value in their Bitcoin holdings at this time. That doesn't mean that Bitcoin won't have another big a bullish rally, and it doesn't mean that, uh, at some point in the future Bitcoin, uh, technology and the market sentiment for Bitcoin may not change. I would rather suggest it this way, that the market sentiment for blockchain technology will be very bullish and very good. The problem though with that is that doesn't necessarily signal that it will be in Bitcoin. This could be in some other blockchain use or technology, right? Doesn't necessarily have to be in specifically in Bitcoin. But let me say this, what, what I'm looking at is that for Bitcoin holders, for Bitcoin maximalists, is my The option I would look at is now a project we're working on called BitcoinMYK. Now again, we're not talking about investing any money in BitcoinMYK. We're not talking about moving your Bitcoin, taking your Bitcoin out, or doing anything like this. What BitcoinMYK is, is it's a new protocol based on something we call the Eldrake Protocol. And what it does is it uses your represented it Bitcoin value to move it at a, at a very high speed, uh, to do transactions at high speeds. And you're able to just claim them based on verifying you on your Bitcoin wallet. So your Bitcoin sits like gold in a vault in your wallet, and you have what we call the Bitcoin NYK project or the Bitcoin Wave protocol acting like money for that goal. Now, the good thing about it, because you don't have to buy the Bitcoin MYK, your risks are at zero at that point, right? And that— and there's a lot of factors that create value in the token, the network effect, and various things like that, uh, that we'll get into in other videos. But we can tell you that it works. Its market price now is in the 60 to 70 cent range. Now, here's the thing. If the market range of Bitcoin MYK is in the 60 to 70 cent range, um, for it to 10x right now would mean it would only have need to go to $6 or $7, which is quite possible. Um, for Bitcoin at this stage, probably over the next year, for it to 10x is probably in the realms of impossibility, in my humble opinion. BitcoinMYK offers a way not to bother your Bitcoin to ride out the bear market, to move your Bitcoin value without touching your Bitcoin. And again, we have videos that explain the protocol, how it works, how the network achieves this, and it does this with zero transaction fees. You don't pay one transaction fee. You can send your Bitcoin anywhere you want, uh, or the representative value through BitcoinMYK. So also, here's the thing, because some people would suggest, oh well, then it's just another altcoin. Not exactly. It's a Bitcoin fork, but here's what the difference is. We use a protocol that stops double spending. We use something called a social media verification key, and what it does is if you mine more Bitcoin you get more Bitcoin MYK. If you buy more Bitcoin, you get more Bitcoin MYK. However, you don't have to purchase Bitcoin MYK, and that's where it comes in that where we're not off asking you to buy any of it. Now, what happens on a third-party exchange with it is we don't control that, uh, it's decentralized on a third-party exchange and people do with it as they will. However, this is a way you can obtain it free and you have a much better chance of seeing profits and seeing a bullish increase in Bitcoin NYK than Bitcoin, right? So to get more details about that, we'll leave a link in the description. Um, but, uh, we want to give you this information so you can be prepared for the situation with the entire state of cryptocurrencies, because Bitcoin, when it falls, and it will, a great deal about, about, um, it's going to fall over 60%, uh, in my opinion. It's going to pull those altcoins down dramatically. There's only a few that's going to be able to withstand. Um, I think the Waves platform, the Waves token, is probably one of them. It's been one of these tokens that's traded adversely to Bitcoin on a great deal over the bear markets, gained 300 to 400%. It's been a top 20 cryptocurrency. It's done all these things. Whereas other tokens haven't been able to in the slightest do anything like that. And I think they're going to be affected the most by this bullish, or rather this bearish, uh, Bitcoin signals that we're getting in, in the market sentiment at this time. But guys, that's all I want to talk about today in this video. Um, guys, if you like content like this, don't forget to like, subscribe. If you have any questions about our project BitcoinMYK, leave them in the comment section or go over to our site. There's live support, people can assist you. And until next time, guys, take care.