Bitcoin and Cryptocurrency Market is like 2014, Australian News & big ETHOS announcement



hey the guys here going here with bow and welcome to another crypto weekly video couldn't absolutely action-packed one point today we're gonna start off looking at the cryptocurrency markets and take a little bit what might be some good picks during this bear period we've also got a really special guest today we've got Robbie are made from bit trade Australia who is the head of trading there who's actually gonna do some technical analysis for us we're then gonna look at some significant news during the week including a really interesting report from ING Bank that actually looked at Australians and a few other countries and what they thought of crypto currencies they're going to check out a teaser coming from a Thoth saying that there's some big news coming tomorrow we're gonna try and dissect that a little bit and try and work out what that is so guys thanks for tuning in stick around and let's get straight into the video so first of all wise is taking a look at the cryptocurrency market and it has been another rough week we've seen continued consolidation we've can seen continual bleeding of the cryptocurrency market we can see here just by looking at the price graph over the past seven days we can see that the prices have dropped and dropped and some significant losses as well when we actually look at the seven day chance we can see that just how significant it actually is see Bitcoin down 11.8% we've got a theorem down nearly 20% Bitcoin cash down 24% EOS really suffering are the most significant out of the top ten cryptocurrencies down 27% that's likely because it doesn't have a lot of utility yet see the cryptocurrencies that seem to weather these really sharp sharp drops better than others are the ones that have very high utility etherion being it's used so much in the industry decentralized applications is used for icos Bitcoin has extraordinary utility and what it's actually used for and a lot of people buy it for that digital gold function so the cryptocurrencies that seem to weather the volatility better are the ones that actually been used a lot so what are some cryptocurrencies you should be looking at if you're thinking about accumulating well I myself would be looking at the stronger crypto currencies that being Bitcoin etherium and other really strong protocols out there a couple of my own personal favorites favorites being protocols like neo and Liske other strong upcoming platforms like OMS Co ones that have really high upside potential that have really big communities and then a strong overall projects in these bare markets it's quite risky I think to look at decentralized application tokens or utility tokens so you've kind of got a manager risk level there and stick with the really strong projects the ones that have a lot of track record a lot of history both in terms of price performance but also delivery from the project team and what they're actually actioning when we look at the global charts we can see that the week has been rough obviously it's started off at 286 billion and it's bled down to 239 billion so quite a significant reduction the interesting takeaway from this week is the dominance of Bitcoin the Bitcoin dominance is growing and it's growing very very fast so at the start of the week it started off of 40 percent and there's a finish the week at 42.7% so what does that mean well it means that people are accumulating Bitcoin becoming being that number one store of value the one that's been on the market for well over eight years that's been an operation for the longest time bitcoin is the number one that's what people are accumulating getting ready for the next bull run so now we're going to jump into the technical analysis segment that's actually been brought to us by Robbie are made from bit trade Australia now betrayed Australia is an exchange this actually mean operating it was one of the first if not the first exchange in Australia they've been around for a long time and Robbie is the head of trading Robbie really nosey stuff and he's come on board to do a segment on technical analysis and what he thinks at the current market cause this is get really really interesting stuff and is one you don't want to miss so let's jump straight into that segment thanks for having me on the show beau yeah so just a bit about me for the past decade or so I've been trading in an FX dealer also been a stock broker in apps X so it's a mid tier stock brokerage firm worked in some of the larger non-bank FX firms and also directed a trading fund as well late last year moved in I moved into bitcoins basically I can see one of my closest friends actually made a lot of money and I just felt like didn't want to miss out so I've teamed up with the guys here at bit trade betrayed with the longest-running exchange in Australia we started advocate as well as showing digital currency association and since then we've helped democratize betrayed we've helped you know write some of their regulations work with ATO or striking and so forth so I make crypto Canty accessible and available to Australia yeah you viewers there Bo I guess we can start off with that the wallstreet teach it so this is my you know the psychology of market from a headline level what we believe here at betrayed is that you know we've passed anger and we're going into the depression stage we're approaching the lows okay of this bear market we have forecasted price levels that we believe that the lows may fall right so you know we can get this in another session or maybe do some tutorials but now we use Fibonacci confluence retracements and extensions and what we've found is that we have a big confluence or align up between fifty four hundred and forty seven hundred right so we anticipate that if the low is to all then you know these are good levels now worst-case scenario if those break the next levels below thirty one twenty two about twenty nine fifty would be the retest of the June highs as well and that's where another consequence own habits now why besides you know the the market psychology cycle besides that while still with things that we close to the laws well it comes down to schematics now Wyckoff was the trader that was one of the best traders that lived years ago but you know one theory or you know accumulation schematic that he did create has you know stood the test of time till today right we're seeing across stock markets excuse me across the VEX markets and the accumulation just basically means where the larger players or the you know the market makers are accumulating or buying inventory okay of a particular asset in this case it's Bitcoin now above is his model or his visual template of a of an accumulation schematic and below is bitcoins price as of thing about a week ago right what we anticipate is that we're waiting for that spring to happen in phase C right and you know the the market dynamics or the schematics behind that is the spring is there to catch most people the wrong way around all right so you know we had this I'm not sure if you can see my mouse there but you know the in the bottom left you can see the February 6 loaves a lot of traders would have stops below that right so what we've done current price getting to current price is a Bitcoin what we have done is actually have swept those loads we've actually broken past those laws and taken those Long's out right and we believe that there's one more slide down and potentially a termination about that 5,000 level and that's what we think will be the spring once it comes back with one a rally with decent volume and then a test for supply so that should be on lower volume there now going a bit more advanced into practical analysis or you know a comparison to the 2014 bear market that we had we've broken up a couple of swings that we had in 2014 so point D excuse me is where the low was formed in 2014 right and what we have basically done is just broken up some of the ratios so from A to C we have 0.55 three or fifty five point three percent retracement from B to D we have one point 605 so BD BD divided by AC we have a number at about 2.9 now if we reverse engineer that and use the same fractal special just means the same pattern that happens in the markets or that has happened in the market previously on a different time frame right that looks more or less similar to what's happening currently yeah and the reason being is that you know with technical notes just a lot of people just think it's just charts it's just a fancy way of you know trying to figure out what where price is but essentially what you're doing with technical analysis you know you go deeper into it you're understanding the psychology of the market because the current price is what every single market participant in the world thinks the price should be right based on demand and supply so it's a true reflection of the price so when you're going back and seeing you know previous highs or lows you know what you're doing is you're figuring out what people you know thought the market should have been at that particular time and if you break it further and understand that or break it through you know different market participants like you know you have the market makers of the smart money and then you have the retail investors that art experienced and as much but and they you know they're prone to making mistakes buying high instead of buying low and obviously selling loans to the bank guy right you know going back here what we see the 2018 bear market is the same ratios that were formed before we see the market terminating at about two point eight four which is about that 5,000 level right I'm just in the last chart that I have if we view as your boat is our expectation on how long it may take for the rally or you know the prices to come back now you know we've seen across social media and a lot of other analysts say that hey look we'll hit you know twenty thirty thousand by the end of July we don't believe that what we believe is that the low or a temporary low should form before around July before August and then it may take in a 1.75 times more days to regain the house and this is using the 2014 air market as as a fractal right so you know if it takes us a hundred eighty days of two hundred days to form the low you know two hundred let's say two hundred days and it would take 350 days close to a year to regain those so guys I'd love to put it out to you and get your thoughts on what you thought of that segment did you like having some technical analysis as you know I don't do a lot myself but having someone like Robbie on could be a regular thing if it's something that you guys find value in so I'm really interested to hear your thoughts on whether you got some value out of that and whether you want to see that more in future crypto weekly shows so onto our first news piece today and this one's actually a blog that I wrote early on in the week and it is the Bitcoin price set to launch in 2018 now this is on our web site cryptocurrency is calm guys if you're not checking that out I highly suggest you do there's a ton of content going on to this side news blogs and other really good technical stuff around cryptocurrencies and blockchain that doesn't actually make it to this channel so running through the blog what I did was just look at the market and house reduced in value during the past six months and and what I've gone on to do is look at some of the key indicators from the real experts in this industry who are giving us examples of how many times has happened before so the first one here was actually from Brian Armstrong Brian Armstrong as the CEO of coinbase and this is a tweet that he put out saying that this is what he's told to his employees so this has happened many times before and you can imagine those running businesses in this space that have probably brought on new staff in the last few months some of the stuff might be a little bit worried about what's going on in the market and how that actually might affect the businesses there that they're working on so Brian's put this out and he said look this is what I've told my team that back in 2013 this happened before 2014 this happened before 2017 this happened before and what its gonna what he's saying is it's gonna keep happening these patterns of the market having huge run ups then big pull backs and the period of time being different every time but they seen these events have happened before now the second thing I went to in the blog is really interesting one this is one only found recently and that's called the mayor multiple now the mayor multiple comes from an indicator that was put together by Trace mayor Trace mayor has been in the Bitcoin and cryptocurrency space for a long time here's a real expert if you guys haven't checked him out I highly highly highly suggest you do a very very very smart man now this indicator what it does is it basically divides the current price of Bitcoin by the 200-day moving average price what this does is it kinda gives you a value right it gives you a ratio of what Bitcoin at the moment and when I wrote this blog which was about a week ago the mayor multiple was 0.67 now incredibly incredibly that number has has historically been higher ninety three point two five percent at a time with an all-time average of one point five five so what does that mean well it means that this indicator at the moment is saying that Bitcoin is very very cheap that's what it's saying is saying that this number the price of Bitcoin but that ratio has been higher ninety three percent of the time so this indicator is saying well Bitcoin is extremely low it's oversold essentially and based on the previous history of Bitcoin now would be a good time to buy when they go into some information that was actually provided by Robbie last week and what he covered earlier on that Wall Street psychology an incredibly look at how close it is I mean it's truly fascinating to see just how close these correlations are these two charts it's unbelievable and I just I really can't wait to see how this plays out over the next six months because I just have a feeling that it's going to exactly match that graph Robbie then goes on to give some price predictions and what they are saying is they're calling for a price of Bitcoin around about or above twelve thousand US dollars by the end of the year and a break past twenty five grambo in June 2019 so as Robbie said earlier they're basically saying the price of Bitcoin is gonna rally again in the year and actually have a strong early to mid 2019 in the blog I actually go on to other examples from other people in industry one being Tom Lee Tom Lee is the director of fun strat that's the the firm focused on doing data analytics and research around Bitcoin and crypto currencies that are calling for a Bitcoin price of twenty five thousand dollars by the end of the year we've also got other people like David Drake he's the chairman of the family office ldj capital that are calling for a Bitcoin price of 30 K but in a year may be a little bit optimistic but still interesting is what is interesting the takeaway the data point we can take away from this is that all these people who are very very experienced in the market are all calling for a very nice price of Bitcoin by the end of this year my own sentiments I'm certainly no expert but I also believe that Bitcoin is going to have a very strong later part of this year I think Bitcoin it's data we've looked at it so many times you know its historical performance how long has been around for the fact that you it is a cryptocurrency it's never gonna go into this security regulation with the SEC and other governments as well I think as a store of value is unparalleled given we also know that has a cap supply we know that up to 4 million bitcoins have been lost forever that drastically reduces supply so I think as a store of value I think even at its current price I think Bitcoin is very cheap now moving on to an ex piece which again can actually came from our website only 7 percent of Australians own cryptocurrencies says a recent ing survey now this survey was a very very interesting one because what they did is they asked a lot of different questions to people both in Europe in America and Australia some different questions around cryptocurrencies and what is what the first one was is have you ever heard of cryptocurrency and up to 70% Australians said they have compared to Austria which was at 79% and Belgium which is at 38% now why is that significant well because having heard of something can be anything it means that you might have just heard it in conversation means you might have heard it once on the news that doesn't mean you know anything about it the next question asked participants whether they owned any cryptocurrencies and Australia indicates up to 7% on some type of cryptocurrency or digital asset the highest country was Turkey which was 18% and Luxembourg was the lowest 14% now why is this significant one of these statistics matter someone in a tweet the other day said you know who cares well what we need to do is we need to take some examples of what people invest in traditional assets to kind of see where cryptocurrencies are going to go as an alternative investment asset class in the future and one of those statistics we can take from the Australian stock exchange from the ASX they did a study last year that says up to 37 percent of Australians owned some type of security on a stock exchange so 37 percent that's significant compared to 7% who owned crypto currencies so 13 percent could potentially one day move into cryptocurrencies and I would say at least half of that is highly likely as these asset class matures I did a little bit of math to work out that if a certain percentage of people moved out of the ASX moved their investment money out of the ASX out of stocks and into cryptocurrencies what could the potential process be now what I worked out essentially what it is I took 20 percent of that 30 percent move their money out of the stock exchange and then I assumed that just half of that just half the amount of money moved in so 10 percent of that 37 percent all right so then what I assume is oh basically took the man of money in the Australian Stock Exchange and I actually assumed only 5% of the money moved out of that because see stocks are on white people they're owned by companies owned by super funds so what it is I took five percent of that money and the total amount of money in Australia Stock Exchange at the moment total valuation by market cap is one point nine eight trillion dollars so five percent of that would be around a hundred billion dollars Australian now the cash to market cap for cryptocurrencies is said to be around twenty to twenty five so taking a conservative estimate estimate of 2599 billion dollars will end up being two point four seven five trillion dollars I know that seems a lot at the moment but just consider how small cryptocurrency market cap is compared to say the S&P 500 compared to the Nasdaq and compared to the ASX okay so taking a market cap of two point four seven five trillion dollars and then looking at the current Bitcoin dominance and aetherium dominance we can take the percentage of the total market what would the price of Bitcoin and aetherium be well we have to make a few assumptions first of all we're assuming that all bitcoins are in circulation and all the theorem tokens are in circulation but if we just if we assume that just for conservative estimates the current that the price of Bitcoin per Bitcoin would be 58 thousand four hundred and thirty-seven dollars Australian the price per theorem token would be around three thousand nine hundred and eighty two dollars per ether now it's pretty crazy this was just an experiment my math more not even be a hundred percent correct there but essentially what I'm saying is look there's all this money in traditional assets at some point as a cryptocurrency market matures some of that money is going to come out it's bound to happen at some point we don't know how long that is but if we just do some basic calculations and we look at some of the money that can flow in then we get these amazing estimates on what the potential prices could be in the future and that's likely where a lot of the experts that are you know fund strata john mcafee all these people who predict the price of Bitcoin that's what they're saying that some of the money one day is going to flow into Bitcoin in cryptocurrencies and it's just going to be a snowball effect so anyway just thought that was interesting thought I'd share that with you guys huge upside potential in this market and given how new it is now lastly guys we've got this thing from ethos we've got a little bit of a teaser some exciting news coming tomorrow who knows what it could be that put out in this tweet they've said hard to believe has been a year we can't wait for this next lap around the Sun stay tuned for B announcement coming tomorrow well what could it be well let's have a little look at a history of the tweet and some things that Shingo has put out in the last few days to see if we can try and identify what on wishing go put out this tweet a little while ago that says nice view of the New York Stock Exchange partner meetings in New York guess what happens when you are a safe and compliant cryptocurrency this is interesting and what I think is going on is some major major deals have been made some major partnerships have possibly been made between ethos and some companies operating on Wall Street now why do I think that well back in the day ethos recruited a man by the name of Steven caller Steven Corliss was a former CEO of Blackrock Blackrock is one of the biggest asset managers in the world this was very strategic for ethos not just from a perception point of view but you bring on someone with a huge amount of knowledge and experience and connections in the traditional finance world they've also brought on a second person from Blackrock as well so the strategy of ethos is yes to be a cryptocurrency company but to merge between traditional finance and new finance and perform that not only is a universal wallet I mean that's layer 1 value proposition but also to be a portfolio management tool potentially even a payroll tool down the track to play to pay people in cryptocurrencies I really hope they're bringing that in because that would be an amazing feature but to be an all-in-one management tool application that will merge the two worlds because without that it's really going to be hard for us to get more people involved in the cryptocurrencies either way whatever happens super exciting ethos it's just delivering on their promises they've gone from this early-stage company into this powerhouse today super exciting stuff and I'll have to wait to see what the news is tomorrow so guys that's it for the crypto weekly I really hope you enjoyed the video like I said earlier definitely going out and check out our site I mean there's just so much content on there that's not actually getting up onto YouTube so what's actually the strategy behind that well cryptocurrency Australia as a brand that's really what I'm trying to build at the moment you know we got a company behind this now as well so I'm really trying to build kind of a media a modern media company that operates on the new media right and that's personal and that's conscious and that tries to do the right thing I mean that's really what I'm trying to do here is move away from that traditional media side and a part of strategy is building the website and actually building amazing content on there and building content that targets Australia and the cryptocurrency industry in Australia the reason behind that is not only because we are Cooke accounts Australian to give you guys an idea of everything is going on in Australia but we're also going to become the place to go for international people who want to know how good Australia is going how we're smashing it in the blockchain space and all these exciting projects coming out of our amazing country part of the whole strategy of moving to this office and potentially actually onboarding staff is to build this company where StarLab essentially you know I'm learning a lot as I go but it's super exciting I think there's so much potential for this in the future and during this downtime you know even though the videos aren't getting a lot of views I don't care because I just like making content a lot making content that teachers or helps people in some way I get a lot out of it so the views and that don't bother me that will come in the future we're just using this opportunity to build the foundations to be an incredible brand and an incredible company that aims at empowering and helping people in the future ultimately crypto currencies is one big experiment but so is everything in life and without risks there's no reward so guys I really hope you enjoy the video if you did you know those likes are always really really appreciated please let me know what you think of the video of the content were there any particular news articles that stood out to you I always read the comments and I like to respond guys so make sure you let me know what's going on down there below also if you didn't like the video ready to give it a dislike that's okay tell me what you didn't like I'll listen to it now I'll try and prove as well so guys really appreciate your time taking the time out of your day to watch this video I really hope you enjoyed it have a great weekend and I'll catch you in the next one Cheers

35 thoughts on “Bitcoin and Cryptocurrency Market is like 2014, Australian News & big ETHOS announcement”

  1. Another Aussie in the crypto-currency market, good to see. I feel like TA is pointless in a full bear market like we are in. Best thing is to accumulate your favorite cryptocurrencies that have a future with innovations that are protected against these 51% attacks destroying trust in these markets, thats why i have looked into deeponion since there aren't as many established hybrid coins as there should be.

  2. Great technical analysis and I agree with you on ETHOS because they have a great potential to easily x50 the current market price if they really achieve the target based on the road map. Can you please provide your analysis on DeepOnion, its a privacy based coin and has a great potential to become the next Monero in the world of Privacy projects.

  3. Great analysis. I think we should take advantage to buy more cheap altcoin like Deeponion. It has more potential and focuses on the privacy of their users and exceptional features like Deepvault, Stealth addresses and also they have VoteCentral. Check it out and thank me later.

  4. Interesting TA. Still dont think the comparison will be live up. It would be like comparing 2014 charts to 2011 charts. Crypto is still very volatile and keeps changing the trend year by year. Bear markets are good to weed out the scam coins. Best thing is to find those coins which are really working hard in this bear market and invest in them. Coins like Nano, DeepOnion are releasing lot of updates and making the best out of bear market. I hope to see such coins get the attention they deserve in the next bull run.

  5. Great content Beau! TA was interesting but I reckon that now people know more about crypto currencies than in 2014 and therefore around the end of the year there's gonna be more hype (hopefully) and Bitcoin will reach at least 15000πŸ™

  6. Ethos serves no purpose. You can achieve all of this without it. Why would you need another crypto for storing cryptos? You can make an easy to use hardware wallet without that (and it will be more secure). All this other stuff they add to it, that's software that has nothing to do with the crypto itself. Ther's plenty of portfolio managers and tax calculators.

  7. Sorry to say. your trying to hard mate. No need for a Pro production when content is boring. Stop trying to be so proper

  8. ETHOS will be a game changer once the fiat gateway is introduced boom πŸ’₯ there will nothing stopping the ETHOS rocket πŸš€ at current prices it has 100x potential that’s if they can accomplish what they set out to do Mass Adoption !!!

  9. Allocation of about 1/5 of your program to charts would be a plus. It would be good to see a few charts that illustrate major, commonly occurring types of chart formations. Doing a little teaching about several important chart formations would help novices. Not everyone will want to devote lots of time to become a pro, but would like to see how the major formations can be recognized and employed to short time advantage.

  10. TA segment was good.
    Disagree with some of the timeframes going forward as the space is now very different to 2014.
    Time will tell i guess

  11. FYI, I was watching a live YouTube stream with Tone Vays and Doug Polk a couple of days ago. Tone won a bet he and Doug placed last year. Doug bet $10k that BTC would not fall below $6k in 2018. So Tone was correct and won the bet and Doug paid up, but the interesting thing is that Tone said he would never make this same bet for 2019 as he believes BTC will NOT hit $6k again, interesting? I have found Tone to be one of the most consistent and accurate TA guys out there who never gets caught up in hype.

  12. Thanks for staying strong, consistent and genuine through all the ups and downs mate! Very appreciated Beau! You always have interesting and varied material.

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