Bitcoin Indicator Hasn’t Done THIS in 3 Years!!! Should You Be Worried?! Bakkt Update

fleet for the dip you still haven't bought Bitcoin no it's gonna drop blue 5k and then we're all in yeah well good luck with that driver we're done here what's going on guys it's k-dub here with another episode of crypto zombies so it's Friday it's the weekend we made it congratulations and by the way I'm not saying that I don't think we could go below 5,000 I just think it's funny that that's kind of like how the community is right now you sort of have half of the community being like we're out of the woods that's it buckle up boys we're going to the moon and then you have the other half that's like no way like I'm definitely holding off we're going lower this is the suckers rally I'm waiting to buy in right very polarizing right now but on the bright side scientists were actually able to uncover who has been behind this massive drain in altcoin profits and yeah obviously I'm just kidding guys but I'm actually kind of not kidding with that one now having a look at what's going on in the market today you do notice that we are having some green I would expect this after the day that we had you know it's pretty common to see a slight recovery after something like this but the big question is are we truly out of the woods just yet and I do want to dive in and have a look at a few different perspectives right now having a look at coin market cap giving this a quick quick refresh live we do notice that we have fallen about a billion dollars since I woke up this morning you know very minor minor movements across the board nothing really too major here a volume is a little bit lower than we're used to Bitcoin dominance has been steadily going up now that's always a key indicator when people are you know very concerned about the overall stability of the markets themselves well then they tend to put more of their money into Bitcoin right but we do have a few gainers today we have nebulous up 18% nan-oh 10 Walton auger engine crypto calm BitTorrent and loon Network all seeing some gains today now having a having a look at our good old buddy Bitcoin over here I am actually surprised that we're holding this level as steady as we are on this one kind of caught me off guard but I think it's more of a psychological level than it is really anything to do with the charts it's just sort of that $5,000 psychological level you see we've tested it 1 2 3 4 5 6 times in just the past day so yeah and we do know that you know more times you tend to test you know either support or resistance you know you tends to weaken it so that's not really a good thing sort of I mean I'd like to get back above this however the one thing I do want to point out guys is the super guppy indicator if we go on a lower timeframe has actually turned neutral which isn't bad it's not it's not red but it's not green okay so it's very indecisive right now right now I want to just scale back a second okay and just have a look at the big picture if you just come over here I do like how they do this on coin gecko cuz you can pick the different time frames but look this is the 90 day for Bitcoin look at this it's up 0.1 percent in 24 hours 3.7 percent in seven days 26 percent in 14 days and 31 percent in 30 days and actually crazily enough it's only down 26% if we actually go exactly one year ago right so when you consider the fact that if you had bought Bitcoin basically anytime after January well basically anytime after we hit the low but I mean you're up everybody in this region is up everyone as long as you didn't panic sell so yeah I would you know you have to save yourself like how much more you know upward momentum can you have before people start taking profits you might be looking at some kind of an incoming minor correction now I mean I could be wrong we could wake up tomorrow we could be up over 6k that's the craziness of being in crypto but realistically speaking after making these kinds of gains and these types of profits you do tend to see people wanting to cash out a little bit but I want to point to an indicator that has recently been put on my radar that is actually strangely both positive and negative at the exact same time right how can something be positive and negative at the same time well we're gonna look into it right now now I'm not sure if you guys are familiar with the Bitcoin misery index now the index as you can see right here it incorporates the percentage of winning trades two total trades as well as volatility it shows a value from 0 to 100 the index is considered at misery when the value is below 27 as a contrary index the closer the index is 0 the the bye signal would be and then obviously on the other so basically it's like if it's if it's 27 and below you know we're sad right and if it's like 67 and above we're happy that's basically it right pretty dumb but if you actually look at it statistically with the exception of right here you know being below 27 great bye great bye great bye great bye so these have all been pretty damn accurate okay but what do I need to tell you guys well obviously Tom Lee he was the creator of this and he pointed out that the Bitcoin misery index reached 89 on April 2nd the highest reading since June 2016 so as he says this means good and bad so what is the good well the good is that since 2011 the Bitcoin misery index above 67 has only been seen during Bitcoin bull markets this is more evidence that you know the bull market is starting however the bad is that when it's above 67 after the peak Bitcoin tends to fall roughly 25% okay so that's what he's saying so he's saying it's good in the you know maybe mid to long term we're starting to enter into that bullish trend but short term we might be going lower and this is the picture that he puts right here if you guys want to have a look at it this is sort of him showing you but if we go back and actually just look at what he specifically said about June 2016 when it was reading those levels let's have a look so this right here is June of 2016 now check this out massive volume massive run-up right and then look we got right here and then what happened we fell went sideways for a little bit fell back again now we didn't fall below the lower lows this wasn't like a crash and burn kind of thing in fact it was very positive after this we had a very nice you know steady steady increase upwards but the question is if we go back to the chart that we've been looking at I don't know if you guys can see this correlation you know you kind of have this kind of consolidation pump and then here and then you know the start of the dump well look at what we're doing right now I mean we obviously had a little bit of a crazier ride because we did have that massive dump in November but look it's sort of like that upwards consolidation boom spike kind of kind of hung around at the top for a second and then now we're back down again so if history repeats itself are we looking to do sort of you know a really big 20% 25% plummet you know and you know I mean from here to here look at that and then start the actual slow grind to the uptrend now personally guys I do believe that there has to be sort of one more sort of shakeout you know what I'm saying before we can start it but it's not necessary it doesn't it doesn't have to happen I mean that is my opinion but yeah so guys I do apologize I'm not trying to be negative I wanted to just let you guys know what I'm looking at you know you got to be realistic listen we all want it to go to the moon but we also have to be safe during the time being you know not to mention like I said guys the volume has fallen off significantly but hey you know what how about this bad custom products over clothes it's all about the Japs every user every wallet every Jap Constantinople is done for plasma people to engage no fork y'all have been coming in waves for Carlos is from new layer for binary oh that's so soon yeah so I mean hopefully hopefully vitalic cheered you up with his rap umm yeah guys I mean listen you want to look at a little bit of positivity we do have some good things as well the fear and greed index for what it's worth you know take it with a grain of salt actually has fallen from 65 to 42 which is showing that the market is not as greedy which could potentially be a positive sign moving forward one fundamental thing I just wanted to point out is that Kelly Leffler the CEO of backed actually put out this medium article and once again it doesn't actually give a specific date of when we can expect this but you could see right here in this last paragraph she says as we work through regulatory approvals we are mindful that the infrastructure we are building has the baton to create more opportunities for digital assets to grow in relevance and trust by being more secure investable and useful as a former marathoner this point in time recalls the stage in the training regimen when you're putting in long runs with your training team race day is approaching and there is more work to be done I'm proud to be going the distance with the growing team and of the culture we are building while bringing digital assets into the mainstream economy so I guess without actually giving a date she's kind of like hinting like it's very close but you know no specifics given so that could be taken out some positivity as well now guys how does Craig Wright keep making his way into the headlines man so it looks like Satoshi Nakamoto himself okay guys you know I definitely don't believe that but Craig Wright is suing Twitter user Hottel not for defamation of character and today offered a five thousand bounty for identifying information on him okay now huddle not if you guys don't know unfortunately his account got deactivated or something but he was the one that basically started the Lightning Network torch right so a lot of people are really pissed about this and they've actually started like a little bit of a movement where they've changed their their logo their avatar to huddle not right sort of in opposition against this and the thing that was really surprising was cz actually came out and said Craig Wright is not Satoshi any more of this and we D list obviously meaning we D list Bitcoin sv by the way this was a really nice mural that was made by a crypto scam hub basically it's all the people that have had the Lightning torch and and they were put into this collage so that's pretty cool but I mean look as Hottel not said and this is not the hot or not this is one of the many Hahnel nots that are now on twitter you know imagine being Satoshi you create Bitcoin under a pseudonym you take all the precautions needed to protect your real identity you disappear to liberate Bitcoin from the father figure and then after 10 years you start threatening and suing people if they don't believe you right totally crazy totally crazy so yeah very very good point moving forward so yeah guys bitcoin sv might potentially get delisted from by Nantz if Craig Wright continues to claim that he's Satoshi crazy-crazy will definitely have to keep up on this guy's so really quick speaking of Bitcoin sv we're talking about some coin news what we do have ergo it says after months of development and testing on the test net the Ergo one core technology has now been released we are finally ready for the first stable version of ergo a major milestone in our development progress there you go also got some good news from icon as well icon loupe announced today that it's signed a collaboration agreement with the International Telecommunication Union which is the United Nations specialized agency for information and communication technologies the aim is to establish a high-level framework of cooperation for the ITU smart incubator program in order to provide support and know-how on blockchain related technologies to global startup ecosystems that's really good news as well and also for Game of Thrones fans out there it looks like the V chain V chain projects NFC chips will be used in a promotional initiative run by HBO and Singaporean sneaker designer SBT G the sneakers will not be available for sale instead the four pairs being designed will be put up for display from April 17 to 30th at the limited EDT chamber store in the shops at Marina Bay Sands fans will have the opportunity to participate in a competition that would allow them to win one of these pairs so yeah there you go right there guys hear me roar alright so you probably heard about this news I you know obviously I'm probably like the hundredth person to talk about it so I don't want to over saturate your day talking about it but you know Edward Snowden he you know was talking about this as well obviously images of Ecuador's ambassador inviting the UK secret police into the embassy to drag a publisher of like it or not award winning journalism out of the building are going to end up in the history books so obviously this is referring to a Julian Assange and as you guys can see right here it says the arrest of him has caused an uproar around the world resulting in donations that have been pouring in the WikiLeaks Defense Fund has already received roughly $20,000 in Bitcoin nation's just in the past 24 hours in fact you can see a bunch of people are on Twitter here Pamela Anderson literally tweeted and said donate for WikiLeaks and it says the total at press time is approximately six point one three or six point one seven three Bitcoin or roughly $31,000 and Counting so that is definitely pretty crazy moving forward and one of the things that people were sort of tying in to this situation was that pretty much the last thing really that we had heard from Satoshi before he disappeared was actually a reference made to WikiLeaks when WikiLeaks had gotten their ability to receive payments shut down they had turned to Bitcoin right because bitcoin was censorship resistant right and Satoshi had actually responded to that and said it would have been nice to get this attention in any other context WikiLeaks has kicked the hornet's nest and the swarm is headed towards us so I mean it was a little bit negative I guess in context you could say it was negative interestingly enough he decided to basically go into hiding after this but yeah so that you know but hey it did have a lot to do with people noticing Bitcoin and paying attention to it so it wasn't all negative in fact they probably made a lot of money off of accepting Bitcoin back then I mean think about if they had held how much that Bitcoin may have appreciated so that's something to definitely keep in mind guys and but if that's not enough before we go five petabytes which is five million two hundred and forty two thousand eight hundred and eighty gigabytes of data necessary to image a black hole coincidentally the same size as the Bitcoin block team which is quite large if you haven't noticed so that is it for me today guys it's Friday time for the weekend but no it did not forget about the t-shirt giveaway from yesterday so we need to go to yesterday's news video not the interview and we will paste that in here and I did say to mention something about the shirt if you did want it because not everybody always wants the shirt some people just want to comment so we do have four hundred and ninety five unique comments so here we go drum roll please Bitcoin gonna be insane in the next year though Kevin does MC I definitely agree with you Kevin unfortunately I did say that we had to say something about the shirt so I'm just gonna do this again um let's see let's see let's see who wants a shirt ha ha the intro is an excellent recap of today's market the extreme highs and lows is what makes this fun absolutely man yeah you got to have some fun you got to have some fun on the channel absolutely you can't be serious all day you know k-dubb I need your help on where how to trade alts now that bit tricks is dead to me I hate New York have until June you get anything off the exchange which I was already in the process of doing yeah that totally sucks it sucks for me as well I hate to say you know just use bye Nance for now but unfortunately that seems to have the most liquidity so you can do could you could try that if you'd like but maybe I'll make a video about something you know related to other options as well this comment makes me eligible for the t-shirt and the Nano SGI crypto yes it does it actually does make you eligible for both so congratulations you are the winner of the t-shirt GI crypto um just you know go to either my telegram group right here you could join for free or just hit me up in the about About section and then you can send me an email and I will send you your t-shirt so thank you so much to everyone that's been liking subscribing commenting if you guys haven't hit the bell notification yet yeah you might want to because you know that way you can stay up to date on the videos sometimes they are quite timely and that's it for me today so thank you so much for everyone that's like seriously just been supporting the channel you guys Rock you know that you're the reason that I get up and I do this every single day that being said my name is Kay dub this is crypto zombie until next time stay crypto and peace out

45 thoughts on “Bitcoin Indicator Hasn’t Done THIS in 3 Years!!! Should You Be Worried?! Bakkt Update”

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  3. crypto zombie stop shilling your bullshit your not for the ppl if you were you would only talk about coins you actually have money in A YOUTUBERS FAVORITE LINE !! I DONT HAVE ANY BUT AM REALLY BULLISH !! LOL FUCKING LOWLIFES RUIN PPL LIVES FOR VIEWS YOU NEED TO TELL PPL YOUR PAID TO TALK ABOUT COINS NOT THAT YOUR BULLISH !! an anyone that reads this ask your favorite youtubers to prove they own BTC or any coins tell them to screen shot their purchases on coinbase it doesn't show anything but money they put in

  4. History doesnt always repeat itself , the market is different then it was back then , thats why TA is even irrelevant in this market

  5. Even if Craig Wright is lying, that's no reason to de-list bitcoin SV.
    I am not arguing for the coin, but this is the kind of personal decisions that has no place here

  6. Davincij is saying we will not see moon anymore. BTC at $10k and then banksters will correct because they have tons of BTC already. So after $10k it will be over. Can some one confirm that?

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