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Bitcoin price is at just below $96,000 and to be fair, it looks pretty pumpy cuz we have got a big week ahead. Connor Kenny reminding us on Twitter that this week Fed officials are going to be speaking all week. FOMC minutes are dropping on November the 19th, so put that in your calendar. And the major US labor market data is hitting on November the 20th in 3 days time.
This week is going to be one full of bullish positivity or at least I hope because let's be honest, it's probably done going down. It looks kind of like it's done going down. It hit every single level it needed to in order to test that support level and right now you're going to have a bunch of bears frothing.
They're going to be absolutely frothing. Like imagine you've just been bitten by a tied dog that's been chasing you down the street. You start frothing. We're at that point. Bears are too confident. This video is for informational and educational purposes only. Nothing in this video should be taken as financial advice, investment advice or any form of recommendation.
Don't forget it's not just the US that's seeing some push for regular change in crypto. Nigel Farage is currently in favor to win the next election in the UK despite being an underdog. And Nigel is very pro-Bitcoin. Not only that, but I met a coin called Fish and Chip Coin and Nigel holds it. So that's regardless of the point.
Just give this a listen to see the UK's future of crypto if this man gets elected. Folks, it's happening. We're being left behind. There's a global boom in the trade in digital assets, in the use of stable coins, in the usage and investment in all forms of cryptocurrency. We've literally literally turned our backs on it.
Both the Bank of England and the FCA being guilty of this. The reason the city succeeded for hundreds of years is that it innovated. It took risk. It saw what the future direction of markets and consumer and customer and commercial demand would be. And we have done absolutely none of it. And frankly, I believe it's a disaster.
We should be leading the world in these 21st century businesses. And I just think for a change it's so nice to see a British politician pro-crypto. Take all other aspects of politics out of it. You live one life and you've got to be selfish and you've got to support who will support you. And I think it's very good that finally we have this.
And Nigel isn't the only person that is bullish on crypto right now. Gary Cardone, Grant Cardone's little more wizened brother, but arguably smarter, more intelligent and all around better human being. Either has taken to doing some this weekend and it's messed with his brain or he can see something that a lot of people out there can't right now.
This is a $2 trillion industry going to a $200 trillion industry. None of you guys understand how big this is going to be. It started so small. Y'all are looking at it going, "Oh yeah, but it can't get it this thing can eat everything. Everything." And $2 trillion is nothing. Nothing. $2 trillion industry
remember when a trillion like was in a industry do not say So I would kind of like whatever he's having, but I also completely agree. Over time, Bitcoin will continue. Dips become nothing more than blips on a chart. And today you should actually be more bullish than usual because MicroStrategy stock is going to start trading again today because it's Monday.
And we're going to get an idea of what their NAV premium is. And if their NAV premium is sat below one, I'm bullish on Bitcoin and I'm bullish on MicroStrategy. Simple fact is one of those two is going to stop that from going below one because below one makes no sense. And if we listen to Tom Lee here, he thinks that MicroStrategy is going to be by far the world's biggest company ever.
Just listen to this. Micro Saylor is changing the reality of the stock market. The reason is is that he probably will end up being the largest, potentially the largest company in the stock market, especially if Bitcoin goes to a million. And staying on the topic of MicroStrategy, Peter Schiff today called MicroStrategy and Michael Saylor a fraud saying that I believe that eventually MicroStrategy is going to go bankrupt.
And if I'm being completely honest, I kind of agree, but I also kind of don't agree and I don't know if it'll happen in my lifetime or not. It probably will cuz we'll probably see some kind of black swan. So it's a pretty safe bet that at some point it'll go back bankrupt. Whether or not he'll live to see it is a different question cuz Peter Schiff is about 70 billion years old.
And this tweet that I found, I found straight up bizarre. Michael Puzino, the brother of Jason Puzino that's always at the top of YouTube when you type in the word Bitcoin. Now I know Jason and we had a really good time in Monaco about 3 years ago when we got very very drunk. But maybe Michael has been drinking today because he says, "This time last year MicroStrategy printed its highest price in history of $543.
It is looking likely it will never trade higher." Now that is the all-time chart for MicroStrategy stock of which it never did actually, according to this chart anyway, reach $500. It got to $430 something dollars and is now down solidly 50%. Basically the NAV premium on MicroStrategy stock disappeared with a 20% collapse in the price of Bitcoin.
Either I'm missing something completely here and something has like completely collapsed on the back end of crypto or everyone like Michael out here is panicking when in reality the best move generally is no move, do nothing and continue to buy. coin of crypto is doing right now, just like altcoin life support.
Now in a second we're going to go over and we're going to discuss what's going on with the current price of Bitcoin, Ethereum and Solana. And Rover posted this chart earlier today which I also thought quite interesting being that we actually retested the early open last night. We reset a whole year's gains in literally like two or three weeks is what it feels like.
But from my perspective, again, this is an opportunity. It should be treated as nothing but an opportunity and we are still in the overall uptrend because this chart is not fully zoomed out. Don't forget every single bull market ever has had 30 to 40% drawdowns in price before then going on to make a new all-time high.
It happens every single time people think it's over and then it continues. Oh, by the way, something else I'd like to continue is everyone pressing the like button on my videos. Yes, you heard that right. I would like you to press that button down there because that button is the only button that you can press that will make me feel happy.
And I would like someone to put a bit of positivity in my life, especially with the markets the way they are. So drop a like and subscribe, especially if you're new. Subscribe, come on. Anyway, before we go on to discuss about what's going to happen to the price of Bitcoin, Ethereum and Solana, we have more news.
This one was an interesting one, an Ethereum ICO wallet. Reason I brought this up is just to show you the potential gains in this industry if you get it right. Someone spent $310 on the Ethereum ICO that's now worth $3.13 million even after a crash, a 10,000 X gain. Imagine making a $300 investment 10 years ago.
You get locked up, you go to prison, you get out, then you come out and sell and you got 3 million quid. It wouldn't surprise me if that's the exact scenario here. You got to remember who was actually in crypto with me back in 2013, 2016. These were not legitimate people. These were people with very entrepreneurial backgrounds in very questionable industry.
So it's well within the possibility that this guy has put $310 into the Ethereum ICO, gone to prison, being a distributor on a website and then got released from prison and now he's rich. And let's just, while we're thinking about being rich, give a moment's thought to everyone's portfolio from earlier this year when Trump first got in charge and Trump coin was $70 and it was a bit of a sign we should probably have all have sold everything and gone away for a few months, which kind of I did.
I did actually a really good job at doing that this year. I cashed out good. My only mistake is I've I've been dollar costing Solana too high, just a little bit too high. I started at 175 and I should have started at 150. But anyway, heading into this week, we are seeing some very good momentum from a new cycle point of view.
The headlines are changing, sentiment is changing. You can only maintain this aggressive of a bearish sentiment for a period of time. And for sure, if we lose the level at $92,000, it'll do a big wick down. It can go as low as 60K on that wick and it'll be back up above $90,000 the next day. We are at around or somewhere near the bottom of this trading range.
I believe that a break back of this yellow line here at about $96,000 is going to yield Bitcoin price perhaps even going as high again as $120,000 in this range. And I think anybody shorting it at $95,000 needs their head looking at because you're using too short term a time frame. You could also make the case that I'm using too short a time frame and instead we should go up another time frame here to the weekly chart, but again, I would make the case that on the weekly chart to me, this is nothing more than the same consolidation [snorts] period than what we've seen previously.
I believe that the short the cycle size has actually shortened, not increased. And I believe that you get your bull market, your bear market, your bull market, your bear market. And to be fair, I feel like we're somewhere near the end of this range. Ethereum again, a much similar story in that sure, terrible dollar price action right now, but when we start looking at its Bitcoin value, that's where we start to notice actually we're seeing some support on Ethereum.
And the same would go for Solana. If we look at Solana's Bitcoin value, we're starting to see some support now over the many many hours it's starting to form on the Bitcoin values of these assets, which tells me that retail traders have stopped selling. And something else highly important to point out to you this morning is we've seen a 1.51% increase in open interest on Ethereum and yet the price for the day is down.
And as I've risen this point to you many times in the past, when you see an uptick in open interest, pay attention to that pair. Follow the money. Right now there are people trading ETH that haven't had market impact yet. And something that I do to spot trades before I need to take the trade is we monitor open interest spikes and troughs.
This could be setting up for an absolutely biblical bounce. But in order to figure all of that out, we'll get back to it in just a second cuz I want to cover slightly more crypto news first. Cuz right now Trump has approved a bill allowing tariffs of up to 500% on Russia's trade partners. That would be anybody as part of BRICS.
India, China, Brazil and I don't know what the S stands for. Maybe Saudi Arabia. I don't actually know. But either way, more government income. Now I know the news Tether is considering a $1.15 billion investment into AI robotics startup Neural. Peter Thiel revealed himself to be the second large famous investor to be dumping Nvidia shares after SoftBank's Masayoshi Son or whatever they call him.
With Peter Thiel exiting 537,000 shares worth $100 million in Q3 of this year. Japan's 10-year bond yield has been spiking to 1. 72% the highest since 2008 global crisis. Now the reason that this is important is because the Japanese carry trade is no longer possible. Now the problem is in Japan, previously you could borrow money from the government for basically free and you were able to buy dollars and earn interest on those dollars.
But the problem is the interest generated by those dollars is now less than the price to take the loan on those dollars. So the Japanese carry trade is kind of falling apart right now. Warren Buffett's been making some interesting news in the normal tech world because if you remember recently Warren Buffett A, has retired.
B, he dumped all of his stock in Apple. Now I think this is in response to the fact that Apple's AI is terrible. Now he's been buying Google shares. Just the other day with Berkshire Hathaway putting in a $4.3 billion stake into Google. The way they got that money was by selling Apple shares. Which tells me we should be bullish on Google, maybe not on Apple.
Something else that happened today report by CoinBureau over on Twitter is that US government debt surged during lockdown by $620 billion. Which means when the government was shut down, I guess no government oversight meant that the government could also print loads of money I guess. I don't know how they managed to do this.
But bearing in mind that's about 2% inflation on the dollar in a period of about a month. You can probably guess that stimulus, government spending and some kind of just something's going to happen soon. It's going to be pretty big. Clearly Trump's getting a pot of money together for something and it looks kind of like he just wants to confetti it on the market.
Then finally before moving back over to analyze the price of a Bitcoin, Ethereum and Solana. By the way, if you haven't already drop a like on this video and subscribe to it. We've got our last story here. From the person who has the world's like legitimately verified highest IQ. As world's highest IQ record holder, I expect Bitcoin is going to $220,000 in the next 45 days.
I will use 100% of my Bitcoin profit build churches for Jesus Christ in every nations. Now I like you watched that and I thought is this guy really meant to be the world's the highest IQ? And apparently he actually is the world's highest IQ person. This isn't an AI video. I have no idea how he come to this conclusion.
And the idea of using money to build churches for whatever reason for cloud. One thing is though, if he is right, this is going to be a very nice call for me because I am very much positioned if that happens. But now it's time to discuss this. With Bitcoin ending its parable, can we find some support sometime soon please so that we stop going down?
And I think the simple answer to that is yes, I think that this this you can see on this chart so clear. Sideways, sideways, sideways. You get bouncing, you get moving in these ranges, but you just go sideways. So now we've entered into another sideways range. If we were to remove all of my rubbish off of this chart here and literally just plot that was a retest of the previous high.
This one has got worse than a retest of the previous high. I wouldn't expect a retest of the previous low, but maybe a low of the range in of which we have retested the low of that range. So then the next target for Bitcoin becomes a retest of the next high again. So the current range of which we sit in in Bitcoin's price right now would be between the range of 92,000 like I keep talking about and up to about 119,000 which again is the peak range of liquidity in this zone.
So I just think we continue to do this which of course means that we get some upside at some point soon and it will come. 100% it's going to come. Unless we lose this level of support here and then it's back down to here and then probably bounce around and then have a terrible time of it and then eventually loop back around.
But either way, my my main kind of interest right now sits with Solana because I've been buying so much Solana. I want to make sure that Solana Bitcoin is going well. I want to make sure that Solana versus dollars is going well. And well the dollar chart is not going that well. It's a 141. I've bought a lot of this like hundreds and hundreds of thousands of dollars and and it's not been going that well.
But the thing is my break even point is well below a retest of this level. My break even point is about $150 because where I initially started to average into Solana. So assuming that we're above $150 which I never really thought we'd go back below it anyway. I think a retest of $170 seems pretty likely.
Whether it be in the short term, I wouldn't place a trade before US market open today. I would wait 2 hours into US market open before I've even placed a trade which is 10:00 p.m. Thai time. The reason I'll be waiting 2 hours in is because you're likely you're going to get this at the start of US market open.
And when you get this, you can't make money off this. This is indecision. This is no direction. Don't trade it. Don't attempt to trade it. Wait till we've got a solid direction. Wait until we start looking like we're going to peak upwards and then it'll be time to fire off again. Then it'll be time to print again.
Of course yes, ETH BTC is not looking amazing. It has been dropping value, but it is finding some short-term support here. We'll look at ETH versus USD again dropping value so significantly. There is only a short period of time for which you can actually sustain dropping like this. Let's just look at these heat maps right now.
You can see all of this liquidity is now pulled up here on Bitcoin at $107,000. On Ethereum that liquidity is now pulled up here at $3,672. It is pretty likely that we see some kind of bounce at the start of this week. We might get this at US market open, but it's going to be get a lot better. Look at the news.
Look around you right now. Look at sentiment. Everyone is a broken person. Don't be broken. Buy the dip. Don't use a lot of leverage. Just be sensible. We're already out of the extreme fear zone which means that we are starting a sentiment change. And if you click on the link in today's video description of four weeks, then you can claim a 50% deposit bonus and up to $30,000 in bonuses.
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No one ever tells me anything. No one ever speaks to me. No one ever leaves comments. So please do leave a comment. I love a conversation with some of you down there. So and also join my communities. I do have like a Telegram group. The community that I'm in all day every day. If you ever wanted to just like have a chat with me, I'm in here all the time.
You can join. There's a 35% off discount code for this plan in the middle here which makes it 65 pound a month. And we're also doing a $10,000 to $1 million trading challenge in there. We haven't placed a trade yet, but that first trade is probably going to get placed within 24 hours. So if you want to get on the ground floor of the $10,000 to $1 million trading challenge, you only need a grand to start to be fair.
We've got a fantastic track record. Check it out. Links and information in the video description. But on that note guys, thank you all very much for watching. I really do appreciate you stopping by today. Drop a like, subscribe and I'll see you in the next one. Goodbye.
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