Altcoin season is CANCELLED? Bitcoin's bull run hangs in the balance?



what's going on fun nation and welcome back happy Monday there is so much to talk about the stakes for Bitcoin have never been higher the expectations have never been higher the hair has never been higher we've got some amazing news to cover we're gonna be talking a lot about sort of what's going on with Bitcoin altcoins different parts of this market a lot of governmental policies that have been passed towards Bitcoin and cryptocurrency around the world just showing a real tide a sort of swelling effect in my opinion going on around this industry getting ready to really explode like the active volcano that is the Bitcoin and cryptocurrency market and then we're gonna talk about the unicorn the thing that everybody has really been waiting for for what I feel like over two years now the ubiquitous altcoins season alt season is it coming when is it coming why is it coming how is it coming we're gonna talk about all season in some depth at the end of this video and I'm gonna talk a little bit about my thoughts about the whole thing so if you're interested in knowing when your alt coins are headed to the moon then you're going to want to watch this video I'm Ellie oh trades you're watching flood TV and if you're excited for this video do me a favor and throw a like under this video it really helps the channel grow anyway onto the news starting out with the markets I'm actually not gonna go to coin market cap as I normally do I'm instead gonna go to one of my favorite resources which is crown from crowns crypto cave if you guys aren't watching crown already I've had him on my show several times he's in my opinion the most talented trader out there and you can see here this is a still frame from his recent video today where he's had these two blue box territories marked off with Bitcoin one starting at about ten one seven at the low range and stretching down to about 10,000 and the high range there at about ten thousand eight hundred you can see that these are the two ranges and if it gets into one it's bullish gets into the other it's gonna be a little bearish and this is kind of funny because bitcoin is right now staring a death cross in the face and in the history of Bitcoin death crosses in bull markets that can mean you know upwards of a twenty percent correction sending us down towards the eight thousand dollar mark of course if we pop back up who knows how high go that's really about the state of the markets right now and as a very wise man Anthony Pompano has said the best bitcoin investors are really good at doing nothing for long periods of time so if this volatility and this chop has gotten you a little bit uneasy maybe you've got weak hands and you actually had to sell a little bit of your stack with these gains I don't know what you were doing personally I think the best is yet to come but of course there could always be a rocky rocky road between here and there as it has been encrypted currency speaking of great palm tweets we have another tweet that there was two trillion dollars laundered last year and that's more than six and a half times the entire cryptocurrency market cap obviously this is to underscore there's been a lot of fun going out around cryptocurrency and Bitcoin I've had these conversations over and over with people in my life over the last week or so because of these hearings that oh I like Bitcoin but it's associated with drugs in corruption and dark web and it's just kind of funny how these stigmas tend to stick even though obviously the US dollar is the number one vehicle for almost all of this nonsense going on on you know the darker sides of humanity so it's good to keep in mind the US dollar is really the vehicle that's preferred by all of the worst sort of actors in our society and yes Bitcoin has some history in that world but is far more trackable and traceable and of course in the future can become a much more I guess bright economy instead of a dark economy as they say I don't know if that's the right term we also have some very bullish news that quant is integrating with finance into their over ledger system as well as luma is integrating with bi Nance loom is going to be providing some very interesting functionality here allowing for the BEP to token to actually have smart contract functionality now if you're a bi Nance fan or a bi Nance hater it's important to know that this smart contract functionality was not available on the original bi Nance chain tokens the original native token for Finance chain and so adding the smart contract functionality to me opens up the possibilities for bi Nance change tremendously I know it's already going to be seen as very advantageous to have your coin trading there because it's going to have probably the best liquidity and more than likely a phenomenal user experience for the decks users but then have a the ability to have those tokens have smart contract functionality really expands the scope of Finance chain in my opinion so kudos to loom kudos to finance and again kudos to quant Network lots of kudos going around today we also have the eBay CEO saying crypto assets poised to play a major role in the way that money moves obviously don't really need to go into this and Bitcoin is now eight times more powerful than it was at the 20k price peak of 2017 this is important stuff you have to remember that bitcoin is not just a token it's a network and that network has characteristics speed security vulnerability all of these things are important characteristics of the Bitcoin network obviously you want low vulnerability high speed high security but it's important to know that the Bitcoin network now is 20 times more powerful than it was back when we did have the price peak over at 20k and so if you're looking for fundamental factors here like the mining strength the security strength the strength of the network in general these are the kinds of factors that you can look to for understanding why a price well a price increase per token is actually warranted and needed we also have a comment here by Tim Draper who's a sort of legendary Bitcoin bull he says that Facebook's Libre is a bridge to the Bitcoin world and this is something that I was trying to explain and it's funny every time I mention Libra on this channel I always get so many comments saying you know Libra is a scam Libra is gonna delete you Libra is the worst thing ever and I get it like from an ideological standpoint this is not what we had imagined by imagining a utopian decentralized world but I do believe that it is a stepping stone and it's a better stepping stone than coinbase I believe to get people into crypto so now we have a slew of governments putting out news regarding Bitcoin and cryptocurrency the first is that Iran is recognizing bit coin and crypto as an official industry which i think is very important because as i've said many times before as much as sound money is important in the countries like United States and Great Britain and the European Union and other places that have great reliable fiat currencies it's extremely valuable in places that do not have reliable fiat currencies namely Iran and so we're gonna see a lot more of this in my opinion over time Germany says we should be neutral Facebook's Libra token again an interesting comment here but a lot of these international powers have seen the Libra as a potential threat to their own currencies so seeing Germany be neutral on it is very interesting we also have India recommending a full blanket ban on crypto currencies again we've seen a hugely stigmatized reaction to crypto currencies in India a lot of people are really concerned with what India does with crypto currencies because it has so many people in India but at the same time I'm not so concerned with what India does with crypto currencies because at a certain point whether they're on the train or not I don't believe it's gonna stop bitcoins growth I think to me it spells out quite a bit of corruption in the country but at the same time it's not really important what India does or doesn't do with crypto currencies the train is moving forward regardless of whether India is on it or not and finally we have news out of Palestine that the Palestinian Authority is considering crypto to replace the Israeli shekel and again we just have more and more instances of countries that were you know they're fiat currencies or for example relying on israel's fiat currency has not been working out for them in a positive way or they think crypto could offer a very welcomed alternative this is where the crypto seeds are going to be planted and these are going to blossom into big big trees so I'm very very excited to see when I see lots of governments considering crypto currencies in a new light so now we're gonna move into everybody's favorite topic which is of course alts season when is alt season coming where has it been how come you've been gone for so long all season and I'm gonna talk a little bit about different examples of coins that have done really well and different you know parts of the crypto economy that have been really booming before we talk about all season in general at the end the first thing is that stos have been doing pretty well token market which raised 136 percent of their target goal in just 48 hours you know that sounds a lot like an IC o—- of past we have bit bond raising over 2.1 million euro from 87 different countries and then we have a bunch of different stos that have really taken the market by storm we also have some amazingly high-performing crypto currencies like chain link who over the past six months has gone from you know about a forty five cent token peaking at you know literally over four dollars and fifty cents I don't think this charts showing it right and then now it's kind down to you know a measly two dollars and 44 cents but of course even if we take their lows call it 50 cents we have about a 500% increase in chain link alone which those kinds of 5x gains are really something that we were used to back in the alt season of past same with crypto comm chain I mean look at crypto comm chain starting out the year at literally but you know just above one penny and at the peak they wikked up here to above 15 cents and so from about a little over a penny to 15 cents you have almost a 15 X there well over a 10x that's for sure and that's just very very similar to what we would be seeing happening in the alt season of past beyond that we've had coins like Maddock which were by Nance initial exchange offerings ie OS in general you know started here at about let you know a third of a penny and rocketing up here to over four cents I mean that's tremendous again well over a 10x and these are the kinds of gains that we would have expected on the old season of yesteryear but we're seeing them here take place unfortunately what we're not seeing here is big gains from the altcoins that we really want to see rocket you know aetherium XRP litecoin had a great year but that's one of the only top tens that I've had you know tremendous growth Bitcoin cash again showing some life at the beginning of the year but that's just because it was so drastically oversold and almost defunct we have Tron barely making moves obviously it did make a move from one cent to four cents that's a almost of Forex there a little over a penny to a little over four cents but again suddenly back down here to 2.8 cents we have stellar stellar was over $1 at one point during the last alt season you know we have I could go on and on and on but unfortunately all season is simply not showing up in the same way for these alt points like it has for Bitcoin and to select few alt coins and the question is is it coming well the market has matured and changed a lot in the past year and now we have a bigger focus on things like initial exchange offerings these tokens are fresh they have a potential you know with a very thin market to have tremendous pumps you have a real proliferation of the Bitcoin margin trading economy with options exchanges popping up left right and center you have the Mercantile exchanges like you have bit Mex you have Comex we're having different ones where you can trade with options and leverage here in the United States and those are fully regulated and my opinion is that the smart money the big money is no longer going in on altcoins to pump them so much as they were in the 2017 season they're focusing more on games like IE OS and just trading on the king coin bit coin and using margins and leverage and options to create profits and losses no matter which way the market goes in my opinion the focus on Bitcoin has never been greater the amount of money surrounding Bitcoin has never been greater and the desire for so many alt coins has somewhat subsided now does that mean that certain alt coins can't succeed absolutely not we've seen that with chain-linked we've seen that with crypto Tom Chang which by the way crypto calm chain formerly Monaco has just shipped credit cards to the United States where you can spend your cryptocurrency anywhere that visa is accepted they've been doing this in Europe for a while now coin base has also been doing this in Europe so we can expect coin base should be shipping cards to the United States as well to me this is a huge huge thing because I shouldn't have to wait and know what list of merchants people are on before I can use and spend my crypto it has to be as easy as a credit card or else to me it's not working the same as or better than your previous money obviously the the idea of just scanning purchase and sending people Bitcoin directly that's great but a lot of people just want to use the credit card functionality or something like it so having that kind of an integration to me is huge that's why they've been pumping like crazy but again good coins with great news and great projects like chain links partnership with Google and of course their addition to coin base getting a great combination of news in June that sent them skyrocketing these kinds of fundamental indicators are still holding water however the alt season in general seems to be something that's not taking shape quite in the same way instead it's gonna be the onus of each and every project to create very important news that actually fundamentally drives the demand of their token we've seen examples of this throughout 2019 in my opinion it's time to start being extremely pragmatic about which coins are going to pump and which coins aren't going upon the overwhelming majority of my portfolio is Bitcoin I still have several big bags of alts but I am very much so focused on the king coin here because I'm believing that we're in a strong strong Bitcoin season moment and that the whole altcoin season has become more of a meme than a reality instead now I'm analyzing each and every token almost completely anew looking at the news they've put out in the last six months the code updates they put out in the last six months the fundamental drivers that have happened in the last few months and trying to understand which projects really have the trajectory necessary to place market demand on their coin and raise the price it's no longer good enough that they're out that they're being used that they've really done the bare minimum they need to now be producing excellence and without that excellence I'm no longer going to be throwing in all of my precious satoshis like I said I'm not going to throw any shade at any specific coins right now because I don't think that's very important to do what I want to do instead is highlight the attributes within the projects that are succeeding and why they're being able to show that growth in their price and why they're having success in this market because those the attributes that if you find them in other projects could lead to similar success again stagnation and just keeping the wheel moving with some of these big big Kryptos especially I'm looking at the top 10 the top 20 the excessively tribal crypto communities that we love those are the ones that I'm looking at to potentially not deliver at all over the next six to 12 months and yes it did scare me when I first started having these thoughts but again it's not about holding on to biases it's not about holding on to beliefs that we had over the past 12 – you know 24 months it's about being as smart and agile as we can looking forward into the future in a market that changes almost every week almost every month it feels like a brand new day here so it's gonna be very exciting to see which altcoins really take over in a more mature more sensible more level-headed cryptocurrency economy anyway let me know what coins you guys are holding and which coins you think still have it in them to create some significant gains here in 2019 and beyond as usual if you enjoyed this video if you got value out of it please throw me a like and leave a comment in the comment section below if you're not already subscribed to Fudd TV do me a favor and hit that sub we make cryptocurrency videos here all the time as usual I'm Elio trades you're watching flood TV and I'll see you very soon on the next episode

28 thoughts on “Altcoin season is CANCELLED? Bitcoin's bull run hangs in the balance?”

  1. Altcoin is already dead until usdt, usdtc, tusd And more other exist. All money from btc move in stabile coin.

  2. The more daring people already entered the market in 2017/2018 and got burned really really badly. Who on earth is going to add more cash to a losing very risky investment now? This market still needs to bleed out and make people forget about their losing investment, then see some gains and good news show in the mainstream media before any more cash is thrown at this very risky investment. My views today is that this market is now made by hobby investors mixed with professional investors trading on technicals mixed with too large buy / sell orders together with shorting longing on other platforms. I would if I could but that’s how the world works. Market doesn’t make sense at the moment if you are looking at fundamentals of e.g. XRP and the news that came out the last weeks/months. Instead of skyrocketing on the moneygram news where stock price of moneygram did +100% , XRP did nothing at all. Every time XRP starts pumping, BTC has massive sell orders which cry-lies the XRP pump. XRP has magically appearing sell walls/buy walls. Go figure… so if any coin should pump it’s XRP but it’s not so that’s why I think XRP still needs its time in the sun once these issues no longer appear.

  3. I don't think people are thinking clearly when they hold altcoins, it'd be better to just long Bitcoin with margin. Way better risk:reward ratio. 99% of altcoins are going to lose you money. If you want more risk, just long Bitcoin with margin.

  4. its so funny watching how inexperienced youtubers are on monetary economics its as if there all learning as they go as if they are making a running commentary of their experiences on the fly rather from any real depth of experience. Where you are now has been signaled way way ahead of time but your own now starting to realize that crypto and BTC is subject to global monetary policy and its not an island to itself. Enjoying watching these jedi padawans learning lol about the world,

    The Truth is they HAVENT GOT A CLUE and they are just following the herd the only difference between those who write in the comment section and those who make videos is that the ones who make videos want to make extra $$$$ by youtube and $$$ and tokens for the occasional plugs for projects. This guy like most will deny this too the hilt , but its so obvious lol

  5. i love how all of the you tubers are leaving the alt coins witch only means the pump is coming soon this is how it works fellas Capitulation is here and alt season is among us

  6. Krown is the real deal. All the YT crypto presenters know it. IvanOnTech, SunnyDecree, CryptoZombie, yourself, etc etc

  7. My altcoin strategy has changed. Let me know what you think. I sold all of my all coins into bitcoin except for 30%. With that 30% I purchased shares of bitwise bit 10 on Abra. It's a index fund of the top 10 crypto by market cap which includes nine of coins obviously. I just dollar cost average into that and wait for them to pump as a whole. That way I can just focus on bitcoin and ether and forget about the rest, but still maintain exposure

  8. THETA – My biggest stack (other than BTC). Real world use case being used right now with Fortune 500 companies. You're welcome.
    UKG – Say what you will about the dump this token suffered, however, this company holds one of the most important gambling licenses on earth.
    DGB- Most underrated UTXO coin. Once Bitcoin reaches 100k do you really think DGB will be a penny? Come on…

  9. Charlie Lee sold all his litecoin for fiat while chanting hodl. Bitcoin Season is here to stay. Bitcoin is the King. BTC, DGB, BCH, XMR, and BSV.

  10. Don't you think Apollo is working very hard towards growth and succeeding? I feel they have accomplished a lot in a very little time.

  11. people should have realized a corporate currency is inevitable, be prepared for it.
    libra is just the start of corporate shitcoins

  12. I may be crazy but I still believe in Elastos. What they want to do is ambitious but possible. I just would like to see more projects join forces and become more like the Avengers. Stop trying to beat each other to the top and run the long race together somehow

  13. Man you talk alot, how can some humans talk for 20 min and 1 or 2 topics when i would explain it all in 3 min max

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