BITCOIN BREAKDOWN!? BTC Miners Defend $6.5k PRICE Level! Bakkt Testing BEGINS!

this game will give you an adventure and this game will give you a challenge what about that game you played that game days will blur together regular meals are a thing of the past friends will become concerned and the whole time you'll be unsure if you're even having fun one utility late at VidCon please go dome on what's going on guys it's k-dubb here with another episode of crypto zombies so today is Monday hope you had an awesome weekend thank you for coming back to the channel pleasure to have you here but we are back on the grind it is Monday and Bitcoin is not really doing anything different in fact this has probably been one of the most boring weeks in a while for Bitcoin I mean with the exception of this little excitement that we had right here we've pretty much just been going sideways putting in a potential Bart Simpson pattern although could be a fake out we may head the other way we're gonna talk about that but you do notice right here I mean we are just coiling up and winding up tighter and tighter and it definitely looks like Bitcoin is gonna have a major break out very soon maybe even by the time you're watching this video it could have already happened so we're going to talk about that moving forward I also want to talk about the fact that back is launching today a lot of excitement while the testing at least today and also I want to talk about Bitcoin becoming America's favorite asset slowly yes we're gonna look at some interesting polls that have been going on and I'm gonna show you right now that there is definitely definitely massive institutional demand and a lot of people were worried about the retail investors like are they coming back in well I think they are we're gonna look into that and also tokenizing the moon yes it's happening guys I'm not kidding stick around for that if that sounds good to you then you know what to do also today's Monday and if you're new to the channel every Monday we do give away a ledger nano s all you got to do is drop a comment on any video throughout the course of the week and you are eligible now that we have that out of the way let's give this a quick refresh live Bitcoin is at sixty five point three percent dominance and the market cap is down a billion dollars over all right so seeing Bitcoin mildly down today some of the top alt coins down as well finance is actually up today it was up a little bit higher this morning the reason for that is because they just announced their new ieo which is wink not really familiar with this one but that probably has to do with why we're seeing the excitement for buy Nance but there are some other projects up today as well Ren is up 18 percent Raven coin crypto calm Artur Bundy Xu Network theta who will be talking and waltzing all doing quite well today so we do have some gainers on the front right now we're still looking at pretty much cells across the board it's almost tied with the lungs and the shorts the shorts slightly pulling ahead maybe there's a little bit more of a bearish sentiment right but the thing is if everybody thinks we're gonna go down and everyone's looking at lower lows well you know how that goes right if we're all looking at the same thing is the smart money going to pump the price instead it's possible right you never know with Bitcoin the one thing I do want to point out though is if you look at where we had that death cross we're currently sitting exactly at that level so we're very very indecisive especially on the 4-hour charts obviously when you zoom out to the higher time frames we're still doing just fine but short term price action could get pretty damn choppy having a look at this giant wedge that we find ourselves in currently look at how we're just struggling right here there's all these different resistances that have formed ever since we had that really Exuma Hrant pump all the way up to 14,000 and if i zoom in right here look at how Bitcoin is just struggling to break out right between this little area so this is saying to me that we could be seeing some big move soon and the reason is is because when Bitcoin tends to have this sort of tightening pattern also let me just turn on the volume too so you could say you also have volume declining as well now this is over on gemini but it really doesn't matter what exchange you use and you can see right here we're clearly going down you can see the trend right so what happens when we had that in the past well if we look right here we had a wedge breakout wedge breakout and how we're forming another wedge with low volume so if we do fall lower there is a chance we will get supported by this trend that we had started way back on May 11th so if that's the case then you know Vic could come down somewhere and retest this line which if we had a straight fall just you know went straight down and had an absolute dump well then I would hope that we would be supported probably around the nine thousand two hundred dollar level short term if we were to pump well then you know we could go all the way back up to twelve thousand dollars so yeah we could find ourselves back in the twelve thousand twelve thousand three hundred dollar level range however we are still currently sitting below the twenty one exponential moving average on the daily this is a very critical level as you can see once we break above it we tend to skyrocket we tend to really take off and when we get below it well we're clearly struggling right now so there's a chance that if we do maintain in this downward trend then yes we could end up once again down at that eight thousand dollar Bitcoin level that we were talking about guys we also have an ascending broadening wedge that's been forming as you can see right here this is the danger zone we have this eight thousand dollar level which is the absolute lowest 8500 for the CME gaps to get close although Richard Hart says that we closed them I couldn't find that particularly on my charts but you know maybe he's looking at something different and you know at the worst case scenario we're looking at about a seven thousand four hundred dollar Bitcoin but I don't personally think we're gonna go that low I'd be shocked if we go that low but right now like I said we're at a very critical level you can see we're either gonna break out into this blue box region or we're probably gonna fall a lot lower in fact I've spoken to a lot of people today that they're not really doing anything trading wise they're actually staying quite neutral because this is one of those moments where it's very difficult to predict in fact back here on the market cipher B you can see we had two green dots that signified you know along and obviously Bitcoin pumped up we had a really nice pump we also had these two back-to-back dots here that signified you know other opportunities for longing but currently on the four-hour we're not seeing any indicator so maybe market cypher is just as indecisive as the rest of the traders right now currently having a look at the EMA MA ribbon we are sitting inside of it this is another thing we'd like to get above right you know we haven't gone all the way down to the bottom but we have fallen out of the main ribbon itself and once again I just want to point out for example this is on Kobe I'm trying to look at as many differ you know charts as we can you can see they're still declining volume so it's definitely signaling that there may be a massive move moving forward and even on the four-hour right here you could see that we do have you know a red X and a red diamond on the market cipher but you know there was a signal for a trend reversal but the question is was that trend reversal just going down up was it just this short trend reversal and never going back down again so like I said guys big move coming to which direction I'd love to tell you that I know but right now it's it's a it's a difficult one to call guys so yeah one sweet like I said once we get out break above into this but if we go into the blue box zone and I'm gonna tell you right now we're probably gonna keep going up but if we fall a lot lower into the red zone territory or we hit down to this red level then we're gonna definitely be going a lot lower guys so that being said I wanted to point out with one of my favorite analysts on Twitter said you know he says weekly daily closed was neutral this is Josh rager closed in the range between primary support resistance levels but volatility expected to happen this week Bollinger Bands starting to pinch on the four-hour hopefully get some hopefully we get some live action on the charts to start the week off and I'm actually kind of surprised myself because at this time currently when I'm making this video you know the East has already been up they've been awake now for a I mean depending on what time you get up in the morning a good 1215 hours and we haven't really seen any massive movement and you would think that it's Monday these guys are waking up and usually we see some massive moves but we didn't so far so that is interesting but I do want to talk about some fundamentals I want to talk about why America is starting to say that bitcoin is their favorite asset also backed coming out and let's not forget the fact that the hash rate is at or was at an all-time high and hit an all-time high a couple days ago and that was 907 T nine Tara hashes so this is showing me that Bitcoin hash rate is at an all-time high guys this is amazing the network is really secure miners are turning on machines and interestingly enough you can see over here films they'll pointed out that midterm action is most likely coming from Bitcoin miners who could be selling their mind coins which could be seen by these 12.5 bitcoins sell orders that he pointed out right obviously because that's the block it's going to get cut to 6.25 next year in May but that could be a sign that these guys are doing that right so he says they're hedging down future production while existing marginal cost of production is still low he says I was saying all the time in the bear market about these 12.5 Bitcoin orders they disappeared in the bull market this year and came back around 13 K filled Phil theorized that the minors may be contracting they're selling pre having to create a new having bubble which would present a supply shortage and opportunity to maximize their realizable revenue per unit they will defend this new cost of production or double that the previous basically he's saying 16 our $6,500 is the lowest he says 6.5 K is thou shalt not pass for the minors so he theorizes that the minors aren't going to allow Bitcoin to go lower than 6.5 K my name is Milton Damaris and I am chief strategy officer of coin share today I'd like to discuss crypto currencies mainly Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin bitcoin bitcoin and bitcoin now Bitcoin the Bitcoin network Bitcoin bit quite a quite Bitcoin Bitcoin did quite quiet Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin I thank you for your time and look forward to your questions but let's talk about back everybody's excited today we will begin testing for Bitcoin futures this has been long awaited although it's still technically not actually approved by the CFTC so we could see the actual launch still get pushed back which would be unfortunate but I think today is a day of a celebration because this is the first time we've actually seen some really really positive progress from back moving forward now you can see right here they're calling it a huge accelerator for Bitcoin price now market research firm fund strat we talked about them the other day on the channel they said last week that backed will be a huge accelerator for Bitcoin growth more than 150 institutional investors and service providers attended Beck's institutional digital asset summit last week we talked about this right they said the CFTC is seeing growing demand and interest for Bitcoin futures from the public so this could be good maybe if the CFTC is seeing that demand see that the public is interested that might sway their you know position I think there's good I think they're gonna prove this I do I do i just think that they're really taking their sweet old time with it right but you can see right here this was the tweet that we talked about the other day a lot of positive things inside of it and in fact I wanted to talk about what a sure Westropp Evans said over at block TV and he was discussing about the interest as well with backed and I just wanted to play this clip super quick and you could see how these guys are really really excited and they do anticipate this to be a pretty big catalyst for Bitcoin especially in the short term to mid term moving forward this is certainly seen as that next regulatory step that could be from some would argue the watershed moment that really opens the floodgates I mean many are really hoping that this will be the case and so there's a lot of interest still buzzing around this and I think whether it happens this quarter whether it happens later in 2019 or even in 2020 whatever it does happen there will be enough excitement that will certainly drive at least a jolt and hopefully I'm sure many in the industry would say a really big rush in institutional investors so you could see that a lot of people are excited about this and many are predicting that this could be that catalyst to really catapult Bitcoin into the mainstream right don't forget we also have Libra as well but really quick talking about it obviously you're gonna have to pass ky caml and currently backs management is waiting for regulatory clearance obviously we don't have full go yet but they are gonna have the ball as far as their trading desk is concerned they're planning to list a daily settlement Bitcoin futures contract which allows traders to perform transactions in a same-day market and they're also going to list monthly Bitcoin futures in order to enable trading in the front month and across the forward pricing curve right but that's not all not even just backed everyone's talking about backs but look at what the SSRS conducted there was a survey of bank and you can see Bitcoin on its way to becoming America's favorite investment option so the question was for money you wouldn't need for more than ten years which of the following do you think would be the best to invest it right for most Americans 31% said real-estate was their favorite long-term investment real estate is a very popular investment right it's something that has definitely held its value over time there's only so much land on earth we keep populating the earth people need places to live people need you know so okay we understand that that makes sense you can see the survey comprised a sample size of 1015 respondents 4% said Bitcoin I know you're saying only 4% that doesn't seem like much well here's the interesting thing if you talk to the institutional investors though for example the study that fidelity did back in May and this was one that was just for Wall Street investors alone this survey concluded that 47% of institutional investors view digital assets as having a place in their investment portfolio 72% of them prefer to buy investment products that hold digital assets 57% prefer to buy crypto assets directly and 57 prefer to buy an investment product that holds digital asset companies and you can see right here Bitcoin remains most popular among Millennials still so the SSRS survey conclusion agreed that yeah 59% of those 18 to 34 strongly or somewhat agree that bitcoin is a positive innovation in financial technology and this is actually up 11% from the last time that they did this back in October of 2017 now if you don't believe that it's also retail as well as institutional I mean this came out 18 hours ago this is a reddit post and I'm seeing these left and right getting back into crypto after taking a break what exchanges are best for US based trading right now he says he tried vibin and they wouldn't let him sign up so you're seeing not only new people enter the space but you're seeing people that got really discouraged left the space and now they're coming back in because they're seeing that the space actually is coming back to life right a lot of people thought that Bitcoin and cryptocurrencies were dead which some of these altcoins may be dead I'm not gonna lie but bitcoin is certainly not dead now here's something that's been floating around the internet internet it says Bulgaria big on Bitcoin as reserves could exceed its gold stash here's another one that says Bulgaria's bitcoins holding surpassed their gold reserves now I'm going to be honest with you guys I can't get confirmation either one of these I don't know if this is fake news or not this could be completely accurate so I was letting you guys know that this is floating around but I haven't had confirmation on this so I don't actually know if Bulgaria's bitcoin holdings are bigger than their gold reserves I'm sure within the next few days we'll get confirmation on that but currently this is really just sort of a speculative anonymous type random thing floating around so take it with a grain of salt guys but if it turns out to be true that's pretty incredible also I just wanted to make a statement again on this tweet that I made the other day so actually it's been getting a lot a lot of 229 routine retweets a hundred at one point 1k likes Wow so anyway never ever really I say so it was minuchin and it was basic basically when he said I don't think nefarious activities have successfully been done with cash now not only is that a ridiculous statement it's a lie we know it's a lie so a lot of people are looking at this and being like if this guy can stand there and say this out to the camera you know to the public what other things is he hiding when he already knows that this is a redundant no but he has to know how ridiculous of a statement this is and what's crazy is is it if you actually go over here to this recent study fiat money outpaces Bitcoin 802 one for money laundering according to this report now I'm not going to go into it but it essentially says that data from chain alice's and the United Nations Office on Drugs and Crime revealed that traditional fiat money is used 800 times more than Bitcoin to launder money on the darknet the results don't even take into account estimates of money laundering through conventional markets so basically this is the chart right here and uh yeah I mean this is Bitcoin this is the dollar of Bitcoin for every other dollar of dollars actually laundered so yeah clearly criminals are not really using Bitcoin and also guys for like the hundredth time Bitcoin is traceable it's not anonymous you would be an idiot to try to do something illegal with bitcoins so that being said not too sure where minuchin is coming from although I know that's his job getting off that topic sorry get a little heated on that one it's a blatant lie he's lying it's a lie stop what you're doing ok moving on so silver silver had a really good week right silver had its best week since 2016 but traders are still saying that bitcoin is the better option you can see that some investors actually interpreted the rally as a renewed interest in precious metals but there are some veteran analysts that cautioned against buying into the hype you have Jim Laurie o managing director at tjm institutional service ya services and he speculated that silver was receiving attention in part because of the increasing volatility of Bitcoin that's interesting he says while crypto has been on a steady incline since April the market has undergone erratic pricing throughout July leading investors to look for more stable alternatives I don't know if I've hundred percent agree with that maybe possibly I'm not too sure but Brian snugglin he's of equity armored investments he believes that bitcoin is still the superior asset for investment regardless of the volatility he says I'd short this not talking about Bitcoin talking about silver I'd throw a long gold and play the long shorts on it I still like gold better longer term or even Bitcoin after this big pullback here so stud 'ln attributed the falling price of Bitcoin to investors losing confidence after last week's congressional grilling of Facebook / Libra however he called the move out of fiat currencies real and predicted that falling interest rates around the globe would force investors into cryptos or tasks that's like crypto and yeah I kind of think that this possibly could be the situation moving forward and if interest rates are going to stay below 2% in the United States if they're gonna stay negative in Europe they're gonna stay flat in Japan where else are you gonna put your money so yeah there you guys go so that is really a lot of good news for Bitcoin moving forward now talking about some crypto news we have NOAA right now we spoke about them on the channel and currently they're up 42% right now on ku coin you can see right here and when I checked it out this morning it was only about 25% so okay should you run out and buy NOAA um I don't know we talked about the pump phenomics right and how they're really trying to increase value and not you know have investors have their funds unlocked and dumped and they have a really really low circulating supply I think when it came out it was like 450 K market cap so we'll be keeping our eyes on this one for sure yeah let me know if you buying an annoyed what you're doing with that so we'll have to see if this will work it's a bit of an experiment but I'm definitely excited to actually see if you know these pumpin omics actually work out and the price does skyrocket so we will be keeping our eyes on Noah also speaking about some updates to the Warren Buffett lunch which I will be attending not the official lunch no but I will be attending all of the events that day I'll be going to all of the not all of them but I'll be attending some of the after parties and if any of you will be there stop by I'd love to say what up anyway CEO of trading platform in Toro Yanni ASEA has signed up the head of buy Nance charity Phan Helen hi or hey I don't know how to pronounce it she's also signed up and Jeremy Alera the CEO crypto payments circle he's going as well and you guys know Charlie Lee he was already gonna go a while ago so that's that also talking about more people being aware of Bitcoin hearing about Bitcoin more Bitcoin in the mainstream well I guess technically this isn't really Bitcoin but behind the scenes which is a television show hosted by Laurence Fishburne I'm sure you're very familiar with him from the Matrix movies so basically this is a show that aims to educate audiences on broad different sets of new emerging topics that affect modern society they were doing them on their doing one on like I think it's like you know the ocean right like I think it's like plastic in the ocean you guys know all that going on well now in an upcoming episode they're gonna be covering the effects of blockchain technology and the problems that this revolutionary technology can solve now it doesn't specifically say Bitcoin however I would only assume there'd be a Bitcoin mention if it's about blockchain right so that would be pretty cool moving forward and yes it's finally happening guys we're tokenizing the moon I'm not making this up a new blockchain project has launched a registry that would divvy up and tokenize portions of the lunar surface the goal of this project is purportedly to secure the possible right of man to the moon to propose a solution to who owns the moon a lunar registry will reportedly secure access to the moon okay I don't even know if I mean like alright this is just a novelty right this is just for fun like please somebody let me know I do remember back in the day they used to have those things where you could uh you know you could buy a star or have a star named after you no but it was real just novelty it was for fun it wasn't really like you're actually gonna own a star or own a piece of a planet right so I don't know looks fun interesting gimmicky probably harmless so check it out have a look at that also Pedro MVP G over here he says I'm working on a board game to explain Bitcoin to friends and family so check this out it's called Hodler of last resort very similar to like monopoly where you go around the board right here so some of the spaces you can land on our contentious hard fork you've bet on the wrong fork take one tenth of your Bitcoin and divide it amongst the other players mal Cox hack not your keys not your Bitcoin transfer eight Bitcoin to a hackers address Genesis block is so yeah it's really cool I mean obviously you know they might kind of fix it up make it look really nice with some graphics and stuff but it could be fun I'd I'd be interested in giving it a shot to play it but finally guys like Tim Draper said with all of this interest laurence fishburne is talking about blockchain backed is you know they're doing their testing today Libre definitely got a lot of attention brought a lot of attention because people were talking about Bitcoin right so that being said guys like Tim Draper says bridges to a Bitcoin environment is all these things are building and eventually once people find out about Bitcoin and now they have a Libre coin or whatever the heck they're holding and they have that opportunity to get into the crypto space that much easier well yeah definitely so that being said thank you so much for coming back to the channel we do have to do the ledger nano ass giveaway so I am going to we had eight videos last week okay because we actually had the market cipher special so we're doing you know Monday Monday through Sunday but there's one day that in there that's an extra day so one Monday oh my goodness so we have to go to Monday's video which was Bitcoin recovery or dead cat bounce is now the best time to buy Bitcoin so let's hop over here copy this oops taking me a little bit of while here go over to the comments let's see what we got here this is for the ledger not OS giveaway we have five hundred and sixty-one unique comments all right drumroll please hey kada thank you for your analysis and insights dollar-cost average is the name of the game even though by bit it's more fun when you win I 100% agree with you Craig I 100% agree with you you know here's the thing you don't have to be trading every single day people think every day I need to be making a trade every day I need to be doing something no you don't ok you don't have to be trading on buy bit every single day wait for setups wait for opportunities wait for chances when we're in a trend when we are going up or when you know that we've hit clear resistance right or clear support totally agree with you dollar cost average strategy's still the number one strategy so Craig you are the winner of the ledger now no s you know what to do you have 24 hours to contact me you could do that either in the About section officially send me an email or you can go to the telegram group link here and also in the description as you guys know I will never reach out to you I will never do any type of giveaways in the comments below there's tons of scammers we block them every single day that being said thank you so much for everybody that's been coming back to the channel you guys Rock you the reason that I do this every single day it's Monday but before we go I need to have a look need to have a look we're not doing anything we're still just sitting here guys really really really really boring so yeah but it like I said look at this it does look like we're coiling up so I would expect there to be a move maybe even by the time you guys see this um yeah so that being said thank you so much for coming back to the channel if you're interested in trading on by bit you guys do know I have a tutorial popping up below also down in the description if you use the referral link it does help the channel out doesn't cost you anything extra also you get $10 for signing up literally for doing nothing you just get $10 for signing up and if you do deposit point to BTC you get an extra $50 sent to your account okay so that being said that is it for me today guys thank you so much for coming back to the channel thank you for everyone that's been liking subscribing and commenting don't forget to turn on the bail notification so you get these updates in a timely fashion sometimes they can be pretty time-sensitive that being said my name is Kay dub this is crypto zombie until next time stay crypto and peace out

26 thoughts on “BITCOIN BREAKDOWN!? BTC Miners Defend $6.5k PRICE Level! Bakkt Testing BEGINS!”

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  5. I know when the bottom will be reached. It is not difficult for me to predict, because I have "outsider" trading knowledge. Outsider trading knowledge is different from "insider" trading knowledge. It is much more powerful. So anywho, I will let y'all know when the bottom's in, ok? What I'll do is write the words, "THE FREAKIN' BOTTOM IS IN" and followed by ten (10) of those little rocket ships — ?…

  6. didn't ya love Mnuchin's photo of himself and his wife laughing their asses off like gangsters while holding sheets of freshly printed cash? You know, like the pallets of cash that went to the Mullahs? FFS, John Kerry admitted that "some" of that cash went to terrorists. (And they never mentioned the bullion… the whole package of cash and gold was over $30B). And they wanna mess with us over a $200B market, globally? Sounds like someone's scared, LOL…

  7. Please let me when the ledger. I've never won anything before. Literally EVER and I actually watch you videos too. So I deserve it more hahaha. I know its random, I'm just talking to the charm gods. Fingers crossed!

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