Episode Highlights:
- 00:22 – Bitcoin’s Quick Rise
- 01:16 – Reason For Bitcoin’s Quick Rise
- 01:48 – There Will Be A Correction…Bitcoin Will Drop
- 04:45 – Cryptocurrency A Game Of Psychology
- 05:29 – Dips And Fluctuations
- 06:15 – Bitcoin Rising Consistently
- 07:10 – Wall Street Wants In On Bitcoin Action
- 07:37 – A Look In The News
- 09:00 – Follow Up
- 10:05 – Alternatives And Opportunities
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Transcription:
Wow WowWowWow look at this chart behind me its bitcoins surge in the last two days literally. Hey what’s up guys I’m Dan from cryptocamacho.com where each day I bring you valuable information about crypto-currency and today on this video I wanted to talk about Bitcoin and bitcoin’s a recent price surge.
00:22 Bitcoin’s Quick Rise
Right now as I’m recording the price is 13,000 at $400 you can see that in the background and literally within the last 12 hours I would say we jumped from 12,000 to 13,000 like of that literally I woke up this morning and I saw this little dip here and I was going to try to sell and buy back on the dip but before I could even do that the price jumped up and so I didn’t actually sell anything and I just can’t believe what I’m actually seeing. I mean literally a couple days ago I bought a couple thousand dollars more a Bitcoin at around 11,500 around this place right here and now I’m all the way up, all the way up at 13,400 and you don’t see my little tickers here because I bought my coin on oncoinbase and so but wow.
01:16 Reason For Bitcoin’s Quick Rise
What is causing this large run-up like what is actually causing this upward movement this upward momentum that we’ve been seeing in the last couple weeks I mean let me just go to this chart here in the last couple of weeks since November 23rd we’ve seen the price go from $7800 all the way up to $13,000 at 74 75 percent in literally a week at in two weeks in two weeks we’ve seen a 75 percent increase going all the way from 7000 all the way up to 13,000 and Bitcoin definitely seems unstoppable.
01:48 There Will Be A Correction…Bitcoin Will Drop
Now I want to put a word of caution here that I do think at some point there will be a correction and Bitcoin will drop similar to what you saw right here. There will be a correction and that will happen here as well so when that does happen be watching for that correction likely what will happen is the correction will bounce either here here or potentially even here but the large correction probably will bounce until it gets down to here so keep that in mind. The way I typically trade is I’ll look at all of the bases, I’ve talked about so many times in past videos I will look at the basis of the last support that I see and what do I mean by the last support so the last time a Bitcoin tanked and look there’s a pattern here, tanked here, it tanked here, it tanked here there’s a pattern, each time that the drop has been less and less and less so the percentage drop has been less but it’s a consistent pattern that every time we see a run-up, we see a shoot up to the moon we also see a dip back down to earth and if you play this right you could actually profit on these dips and I’m not gonna lie it’s not extremely easy to profit on these dips. But if you do watch these charts and do that you can definitely make more Bitcoin, more money in the long term by doing this.
So expect that I don’t know whether the dips gonna happen at 13,500 which is something to watch it may happen at 14,000 that’s something to watch as well. All of the even numbers or psychological marks or levels is where typically the price goes up and/or the price goes down so you saw today the price just about hit 13,000 almost and right when it did what happened the price went down, the price went down people are thinking wow bitcoin is going to 13,000 well I’m really on top I need to sell and get out and make my money and that’s exactly why you see that dip here same thing happened right here at 12,000, exact same thing except this time it was at 11,800 rather than 12,800.
What happens right at the top it tanks again another opportunity to buy and then it goes back up okay this time it did actually crack 11,000 but really there was some resistance here so we saw the same thing here at about 11,000 right when it was about to crack eleven it actually did crack eleven at this point so it’s not always 100% consistent. But you can see again it hit eleven little bit over and what happened it tanked, same thing buying opportunity again and it actually did it again right here it hit 10,500 same type of thing all of these psychological levels 11,000- 10,000- 30,000-8,500 all of these increments of 500 or 1000 is where the rises and the falls typically happens so keep that in mind.
04:45 Cryptocurrency A Game Of Psychology
I’m trying to educate you guys on how the market dynamics actually work think of the stock market think of cryptocurrency markets as just a big game of psychology. It’s a big game of psychology where you’re trying to figure out the emotions of everybody else in time the market in the right way so that you buy and sell at the right times and everybody else is trying to do the same thing right everybody’s putting in money saying I’m putting in $1000 okay now how high is this going to go and where should I sell, it’s going a lot of people say oh 10 percent that’s great for me, 20 percent that’s great for me but people also use these numbers, the even numbers 12,000-13,000- 11,000- 10,000 psychological barriers when the price is going up and we hit a ceiling that’s never been hit before.
05:29 Dips And Fluctuations
People think uh-oh people are gonna dump this right because it’s so high I want to just get out as soon as I can and that’s why you see these dips right and that’s exactly why you’re seeing all these dips here and then there’s others. When it’s going down there’s a psychological barrier where people think oh it’s going down so so fast is going down and people start panicking panickingpanicking and then it hits a psychological mark and it goes right back up that’s how this stuff works guys. Easier said than done but that’s exactly how it works it’s a big game of psychology right so I just wanted to make this video because I wanted to ask why you think bitcoin continues to go up in price when we see in the news that bitcoin’s a fraud, bitcoin’s a scam, Bitcoin won’t last bitcoins a bubble all these negative naysayers on the news saying bitcoin is gonna collapse under its own weight.
06:15 Bitcoin Rising Consistently
At some point yet we continue to see Bitcoin rising consistently over and over and over and no one person I think has been very very consistent on this as John McAfee a little nutty but very very smart intelligent brilliant guy. He consistently has said and refuted what the media is saying, what these big banks are saying and what other institutions are saying that bitcoin is not a bubble guys it is not a bubble.
We’re only getting started it’s going to go higher, higher and higher if you understand the way the technology works and you understand the core proposition and value of blockchain you will understand exactly what I’m talking about and you will know why the price is going to keep going up. It’s going to keep going up because it cannot be stopped and we are just starting to get more adoption for Bitcoin this is going to accelerate over time, the reason that this price is going up now is because bitcoin is getting a lot more attention from institutional investors.
07:10 Wall Street Wants In On Bitcoin Action
The people on Wall Street are noticing these price surges and they want in on the action whether or not it’s a fiat currency, whether or not it’s dollars they want in on this action and they’re starting to support Bitcoin. They’re starting to create their own Bitcoin exchanges they’re starting to create Bitcoin futures right and they’re starting to adopt and create mechanisms for their clients to invest in Bitcoin which means that they’re going to profit from their clients investing in Bitcoin. So of course they’re going to jump on the bandwagon wagon.
07:37 A Look In The News
Let’s take a quick look in the news, here Bitcoin rips past 13,000 a mid interest from institutional investors read any article about it the reason bitcoin is surging is because it’s getting more and more adoption institutions are starting to invest for the reasons I just said. And this is why the price is going up and guys we have just scratched the surface on this. There’s less than 3 percent of the entire society if you will less than 3 percent of people have actually started investing in Bitcoin and crypto-currencies we barely hit the tip of the ice we barely scratched the surface.
As this goes up as a mass adoption ensues in the next year we are going to see the price shoot through the roof I’m not gonna be surprised if we see 20-30- 40,000 dollars a Bitcoin maybe higher I don’t know, I don’t want to predict the future but the writing is on the wall and you can see why this is actually happening. Let’s look at another article right here Bitcoin nears 14,000 in less than 24 hours after topping 12,000 and this is crazy I mean let’s give her this Alan Greenspan talking about it but the swings are going all over the place and it’s because the overall pace of gains have accelerated in the last several weeks ahead of the launch of Bitcoin futures by major exchanges this basically signals that institutional investors are giving the green light to start investing in cryptocurrency specifically in Bitcoin very very exciting times.
09:00 Follow Up
Guys I hope you’re following all this I hope you get what I’m saying. Another article Bitcoin surpasses 13,000 momentum remains strong let’s look at the highlights on this one as well pull back pull back bitcoins substained momentum blah blahblah won’t go through this but growing investor interests again same thing.
Travis Parker CEO of IRA Bitcoin LLC starting a new Bitcoin fund for institutional investors futures all of this stuff is happening guys which is why the price is driving up that’s all I’m going to say about Bitcoin. Super impressed with the price rise I’m glad I bought a couple thousand just a couple days ago if you haven’t bought in Bitcoin already you definitely should, the easiest place to do that is on coinbase. If you are tired of coinbase don’t use it. If you want to use coinbase go to the link below you get $10 free on Bitcoin when you sign up using Bitcoin and buy Bitcoin on coinbase if you’re sick of Bitcoin, I’m experimenting with a new platform it’s called coin mama.
I’ll put the link of the show notes you can buy Bitcoin there again just playing around with it the reason I’ve been kind of getting sick of a coin base is because of all the fees they jack up the price to buy Bitcoin and they jack up the fees to transfer Bitcoin or to do anything with it really.
10:05 Alternatives And Opportunities
So I’m looking at alternatives to coin base although I still do love love coin base so if you want to buy a Bitcoin go to coin base. And what else guys just super super exciting times hopefully this was helpful for you guys about talking about the bases. Wait for the dip, this dip looks like it’s going to be very small and you can see again it’s been getting smaller and smaller so this dip may be smaller before it breaks that trend I don’t know. One other quick opportunity I want to let you guys know up is Atherion. Atherion is currently taking it very very hard, looks like the bounce back is already ensued but I think there could be another pullback. Another bounce back I was gonna wait til I got down to 390 or under 400 to make a purchase I obviously didn’t do that but keep an eye on this one it may go down lower and lower and lower and when it does you guys can buy. I would say for sure if it goes below 400 I would buy as much Atherion as you possibly can maybe even if it goes like 375 ish absolutely, absolutely put all your money in there and buy it it’s going to go back up.
Now it’s questionable whether or not it will go back up or not the base is working off of us right here so that the increase is going to be slight it may drop back down it actually looks like it is going to drop back down don’t know only time will tell.
That’s one opportunity one other opportunity that I wanted to show you guys right now was xlm it’s very similar to iota in the sense that it’s a new technology that’s being adopted by Oracle and by other big fortune 500 companies if you will, they’re starting to use stellar Luna lumens or XML as their platform to start building out transactional databases on is a very interesting one to watch it’s had a big surge in the last few days gone way up right here 60 percent and it pulled back down. I actually bought some right here at the bottom and so I’m hoping that will turn out well. But wanted to give you a quick update on that I would definitely watch Atherion very very closely and another one to watch as xlm I will do another post or video on this later but wanted to just give you guys a heads up on that again.
I’m Dan from cryptocamacho.com hopefully this has been valuable for you, guys thanks everybody who has been following, commenting there’s been a ton of excitement around iota definitely appreciate you guys participating in the community I’m learning a ton from each and everyone of you out there. If you have not subscribed yet click on that little red button right there click subscribe and each day I’ll give you good updates like I just did right here and bring you the latest with cryptocurrency until next time guys see you later.
