Episode Highlights:
- 01:59 – The Anticipation Of Bitcoin
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Transcription:
Hey guys, it’s Dan again from Digital Uptake.
Hey, I get a lot of people asking me as of late friends, family, people on the internet, so forthask me.“Where is Bitcoin going? You know, how high is it going to go? When is it going to break 5000?” You know all these different questions like I have a crystal ball or something but I don’t, but I do find it interesting that we’re up at 40 let’s see we’re at 4349, as of right now. And it’s pushing, its pushed today all the way up to gosh, almost4500 today and the market right now is literally just waiting and waiting and expecting Bitcoin to bustpast 5000 right. It’s been projected for some time a lot of people are banking on that but it hasn’t actually broken past 5000 quite yet right. And people ask me, how do you know when it will break out? How do we know if it will? How do we know when it will? And really the only way the only thing we have to go on in terms of you know looking at how the price is performed and where we’ll go in the future is to look at the price in the past right and you really need to think about this from a psychological level.Like where are the psychological high sand psychological lows that people are thinking of like what’s in traders’ minds that’s you know either getting them to buy or getting them to sell because really the stock market the cryptocurrency market it’s all really just psychology it’s really all just based on human emotion, human behaviour, human reaction, you know to certainconditions or certain circumstancesright people panic and they sell, peopleget excited and they buy you know whatunrealistically when they shouldn’tactually buy and so that that’s reallyhow the market works.
01:59 – THE ANTICIPATION OF BITCOIN
So to look at where Bitcoin will go and how it may potentially break out let’s, let’s go back and look at you know another high, another psychological high in traders mind, in people’s minds, they are trading Bitcoin and let’s see what happened. Sothe last real high, that people were waiting for an anticipating Bitcoin to go past was around 3000 right you know you could argue even before then it was a thousand so forth and so on but the last time it happened it was around 3000.So let’s look at the chart around so it’s all it’s right about it’s right about here right so people let’s go back a little bit further so a hit 3000thousand. I just draw a little mark righthere hit 3000, about right there rightit’s not perfect but you get the idea sohit 3000 you know back in August 4thright but before then like the weeksleading up to that you know all the wayfrom 7:20, July 20th it kept bouncing upand down, up and down, right see goingdown going up going up and down and itjust could never break out of that 3000mark and that’s because of people’sminds in in traders’ Minds, 3,000 is veryhigh right it’s a very highpsychological barrier to most people. Andyou know there’s a lot of peoplethinking okay Bitcoins not going to goabove 3000 no way and if it does goabout 3000 oh no it’s going to go to themoon, it’s going to go through the roof,right and so it was tough for people tosupport it you know going up to thatlevel but then if you look let me if youlook once it actually got to 3,000 lookwhat happensit runs way up right it doesn’t go upand down like it did before it justshoots way up I mean a little up anddown right here but it, it essentiallyyou know shot right up to 34 or5 almost right. And then dropped a little bit but then it gains support again like after it was over 3000, a lot of people were willing to buy it right now it’s at 3,200 right here and it shot to the moon right it shot up to 4400before coming back down and now it’s kind of hovering in the 4000right, and it’s not going to back down. And so, this is where we’re at now with 5,000right it’s kind of doing the exact same thing right so you can tell that it took about from 720 to about August 5th right took about three weeks for it to actually break out of 3000 and I anticipated something similar to happen right here now I don’t know for sure if it’s going to be through two or three weeks you know.
I don’t know it could be,it could be right now, it could be tomorrow but you can see that once it hit its top which was on 8:15 now it’s already been going up and down for quite some time you know when back down to 3,500 with some people nervous there all the way to 825 so it went from 814 day 25 so it’s already been about a week and a half almost two weeks. So it’s getting close to the sametime as when it broke out at 3,000 andso that’s kind of how I think about itand that’s how I think of you knowthat’s how I think you should thinkabout it because at some point you knowit’s going to break 5,000 and when itdoes break 5,000 what’s going to happen isit’s going to have a similar run-up right, asimilar run-up that you saw right hereand now that could go to 5,500, 6,000 whoknows right I think that 5,000psychological barrier, barrier has beenin the minds of many, many traders forquite some time and I think once we gopast by we’re really going to see a big, big, big uptick you know who knows how highit’ll go but we’re definitely going to seea big uptick.So be ready for that, be looking for that, just wanted to call that out you know that now that we’re inching closer to 5,000 though I’d shed some light on that and give you some context around that. If you can you knowalong the way and I kind of missed theboat on this one I didn’t trade when Ishould have right, right here I did sellI already had a bunch of Bitcoin righthere and I did sell like around here andactually I could I could show you thatreal quick here but get my order historycan’t get this chart to work okay, okaythere it is so I did sell I noticed that you know look there’s a base right heregoing back to base trading there was abase and I noticed that it did drop soanybody could have bought within thischunk right and done fairly well Ididn’t bikes already owned quite a quitea bit of Bitcoin and but I did sellright I saw him going up it went past4,000 and I just couldn’t resist it Ihad to sell I had you because it was youknow past 4,000 it was like I made somemoney and I wanted to sell it. So I did sell a little bit there, let me reset this here hide this.
But anyway, hopefully, that’s helpful for you let’s see the next coming days what happens. I’ll probably post a video again after it breaks 5,000 or you know depending on what happens but let me know if you have questions around this or if you have thoughts. I’d love to know if you guys have the same take, or if you have a different take on this you know I’m all ears and I love to get feedback from other traders that are having success anyway your success and you know maybe the next time we talk on a video maybe it’ll be past5,000 fingers crossed I’m hoping it goes to the moon and until then the Goonies, love the Goonies guys get your treasure on and invest in Bitcoin. I’ll talk to you later, later.
