Bank of China BULLISH on Bitcoin!



hey what is going on everyone sign a decree here and welcome back to another episode if you agree with that intro what you can do right now is go to my Twitter account twitter.com slash Sonny decree and also retweet the pinned comment already 64 retweets overnight that is quite amazing so what we're going to talk about today although the price of Bitcoin is going flat and it's quite boring is obviously the price we're going to have a look at the Bank of China and why they finally published a bullish to report about Bitcoin also we're going to have a look at an interesting survey from greyscale and what came out there is actually quite interesting how investors feel about Bitcoin and now let's get started so what we're looking at on this chart is the Bitcoin historical volatility and probably you already figured and as I said yesterday we are in days again or even weeks right now almost where youtubers are not getting that many views anymore everything slows down a little bit people are not that interested probably you are also not checking your portfolio every minute now why is that well it is actually quite simple this is one of those typical Bitcoin sideways movement on the daily chart well we are still perfectly fine in this bullish formation in this bull flag or consolidation whatever you want to call it if you're interested in hearing more about that you can check out the video which is popping up on top of the screen right now that was the yesterday's video so we don't have to talk about the whole ta once again today but obviously the historical volatility the Bitcoin volatility right now is not really that interesting so also trades are really hard to take right now for me once again Bitcoin isn't an old trading zone so yeah probably won't be all too active as far as trading is concerned as well if you go to the lower timeframe something very interesting started again we see multiple Bart formations again multiple bar patterns for those people who don't know what bar patterns are well basically let's go back to the one-hour chart in here I can show it better this in here is a Bart Simpson pattern the reason is because it looks a little bit like ahead of Bart we have a pump that not really a reaction so sideways movement and then later on again but obviously that also works in the other direction this is not really a great part but we could also consider it as one and what's interesting is that we are not really used to those bar patterns anymore since we are in a bull market because bar patterns usually happen more often during bearish times during accumulation phases but it could be that we're gonna go sideways for quite a while that we are more in accumulation phase and also Bart Simpson patterns they only happen when there is low volume and that is something we can definitely see here on this weekend we are approximately around 1 billion and then ya when there is high volatility we can go up easily 2 to 3 or even 4 billion u.s. dollars so it is easier to manipulate the price right now what I call this manipulation well not really it is always you know like hard to call something manipulation but you can ask the question why would someone sell Bitcoin pretty much as a market order in here to push the price down I mean yeah maybe they had a little short open on bit max but it is up to you to decide but enough about the price now let's move on so I saw this tweet yesterday and this is quite interesting and I almost couldn't believe it but this is tweeted from Samsung Mao who knows what he's talking about and he would not tweet this out if this would be fake news yesterday the Bank of China posted up an article about Bitcoin they explained how BTC works why the price is going up and why it's valuable never thought I'd see that happen what I also have to say about this article is that we're not just talking positive about Bitcoin as you can see in this graphic over here that we're also talking about the dump and obviously they're also talking about well the new era of payments Facebook's Libra but as you guys know well it does not really look all too good for Libra to get regulatory clarity I'm not quite sure if Libra will even launch there are some politicians out there some experts saying well that chance for Libra to finally launch in all countries is not even 20% I'm not quite sure about that but from the hearings with mr. Marcus it didn't look all too well let's put it that way so yeah I'm definitely gonna leave you this article down below if you are interested they also talked about the biggest Hudler in China Lee see I'll lie probably I butchered that name which owns more than 100,000 Bitcoin yes we do not really have a great Gini coefficient on Bitcoin yet but that is just normal in a new monetary system some people were in first that is just normal that is how it happens right but the longer Bitcoin exists the better the Gini coefficient the better the wealth distribution so every time basically we see a massive dump well that means that bitcoin is gonna get distributed so we can see those dumps as a positive thing if you wish so yeah definitely very interesting so the Bank of China officially reported about Bitcoin and this is quite interesting because as you guys know trading Bitcoin on exchanges or operating an exchange in China is illegal and that is what you can see over here here this happened in early 2017 all those gray bars in here is the Chinese yuan so we had the most of the trading volume coming out of China and ever since they made it illegal to operate in exchange you can see that the total volume dropped here completely but we already figured that Chinese traders well they're just trading abroad on other exchanges that is the reason why most of the Asian exchanges even they're not located in China offer multiple Chinese languages and yeah but you can see that China plays a big role in the whole Bitcoin space at the Bank of China coming out with this as a overall bullish report neutral / bullish report well yeah this is definitely bullish guys what's also bullish is this new grayscale report here from 2019 or well bullish neutral you can check it out 2019 investors study apparently they did a survey with 1100 US investors not regular citizens people who are already invested in something right so probably accredited investors and this is actually quite interesting those people who care about investments who care about money those people know about Bitcoin and they are very interested in Bitcoin just as an example over here average investors Bitcoin interested investors you can see that most of the average investors are also interested in investing in Bitcoin and does not really are all too much in what range of a salary that they actually are also male-female among those people who are already investors is not as distributed as it is in general so if you look at the stats of my channel for example my youtube channel there are like 96% males and only 4% females shout out to all the females watching my channel right now but for all those people who are already invested well here the balance looks totally different so it just seems like that most of the women are not interested in investing at all but yeah definitely make sure to check it out here on the Sunday very interesting lecture actually but yeah of course you can raise the question and I totally understand that is this survey really significant because we do not really know how exactly they have chosen those people we know they're all investors but um yeah is it really random enough also the comparison to gold in here and this is something that we have already seen anyway we are moving forward we are getting into a digital time where payments will be digital in the future technology moves forward and so on so it just makes perfect sense that the interest for gold is going down and the interest for Bitcoin or other electronic payments digital payment system digital store of value which is only Bitcoin pretty much well that the interest for that is definitely going up so bullish times ahead of us even though the price is doing nothing on this Sunday so far but that is it already for today once again don't forget to follow me on Twitter and if you wish also retweet this little meme in here well I never thought that people agree so much with that thank you guys very much for watching enjoy the rest of your Sunday and I hopefully see all of you tomorrow in the next one bye

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