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hey guys and welcome to the working money Channel I really feel like the crypto market doesn't know what it wants to do right now we're down but you know as of yesterday we were up quite a bit I'm just gonna go to the chart here and show you guys we were making our way up this is Bitcoin on the hourly by the way okay yesterday evening late afternoon evening this is around 8 p.m.
on Friday July 26 we saw a huge movement up for Bitcoin and then this huge move down lots of selling volume and a huge shift in a downward direction okay so we were coming out of this level of support here and we're making our way up but then the trend moved downward I gotta put this on the 30 minute because I wanted to show you how interesting this is I created these zones that probably weeks ago now believe is around this time here when we were trending here around the around July 17th I believe and we were retracing because we had come back down and so I had drawn this support level you can see it better on the hourly and on the 4-hour this level of support here before we moved our way up and so as we were coming down I was suggesting that we were gonna base in this zone again and sure enough we did coming up coming down touching the zone but it's really interesting how how sharp that move down was actually let me put on the five minute here you can see right I drew these lines about a week ago and you can see how that even just yesterday's movement shot right back down dipped into the zone and is now kind of hovering around this line this line represents 9500 and so I feel like that is the new level of resistance for people to agree or rather traders to agree that that is the price that Bitcoin should be bought and sold that at this moment in time we will likely see more upward momentum I saw this from the daily Hodel this from Plan B Bitcoin indicator signal surged to 370 thousand per BTC now this is over the long term guys a crypto analyst known as Plan B says a metric based on miner activity points to a long term Bitcoin bull run to three hundred and seventy thousand dollars now if you guys remember from a few days ago I did make a Bitcoin prediction between a hundred and three hundred thousand dollars by the end of 2021 and plan B here is suggesting that it could go even higher so making my high look a little conservative according to plan be passed Bitcoin rallies have begun after large numbers of miners who power the network determined they're not making a profit and temporarily turn off their rigs this tends to happen when a Bitcoin bubble bursts and the price of BTC plummets by running the math on bitcoins past price movements after the so-called minor capitulation plan B says he believes bitcoin is likely to begin a new trend to 370,000 over the next two to three years so to three years again same kind of timeframe I'm saying in about two years two and a half years roughly so getting up to that $300,000 mark if you have one Bitcoin just one guys you could have $300,000 by the end of 2021 early 2022 is what plan B is suggesting here so this has to do with miner rig activity a very interesting way to look at things so Plan B joins other crypto insiders who see bitcoins price plotting a similar path in a new episode of the Unchained podcast pantera CEO dan Moorhead says his firm's calculations indicate Bitcoin is on a trajectory towards 356,000 in the coming years it deflated so much that at the beginning of this year when we were at the trough of the crypto winter we graphed what it would be like if Bitcoin spent the next 12 months getting back to its trendline and then from there I just stayed at its trend and it's trend had me to grow 235 percent compounded annual growth rate at the time Bitcoin was a 3,000 or 4,000 that put Bitcoin at 42,000 at the end of 2019 which I know sounds crazy but essentially we're half way back there it's right on the trendline and I think it's a good shot that by the end of the year we could indeed hit that and if you just extrapolate that line out for another year it's a hundred and twenty two thousand per BTC and just one more year three hundred fifty six thousand and those numbers sound crazy but our first research piece that we wrote on Bitcoin we predicted it would go to five thousand and when it was a hundred bucks everyone thought that was totally nuts but these numbers in two to three years people will look back and go oh yeah that makes sense that always tends to happen hindsight is 20/20 we know Bitcoin has the potential to explode further and faster the longer it exists right now Bitcoin is down 1.75 percent at 9 800 so this was written I believe this article is from yesterday so Plan B predicting a Bitcoin in the upper echelon of the three hundred thousands same with who was it Dan Moorhead here Pantera CEO so you know my prediction in that realm as well this will be great for the crypto market as a whole I feel like if we are still just specking around and playing the spec game it will bring up other coins like XRP right now XR pc trading the same way bitcoin is fell in that same pattern okay fell the same time that Bitcoin fell going back to XR P here and we're seeing XR p now vacillate here in this range at about 0.3 0 8 gotta hand it to the kid Alex Cobb after saying he was taking a break from Twitter and YouTube what does he do of course he has another livestream because that's what Alex Cobb does it's all good though he puts out great content so I don't think many people care people encouraged him to take a break but then those same people are like yeah we're so happy you're back early Alex and what was special about Alex Cobb stream yesterday is that he did have David Schwartz in the comment section not going to touch on it too much but mister be at XRP mister did highlight these couple of points here that David Schwartz mentioned in Alex Cobb stream last night guys if you haven't watched Alex Cobb stream it was a roundup on the quarter to report I'll link it in the description if you guys want to watch it this format XRP mister so he screen grabbed a few David Schwartz comments here I'm not an expert on regulation but I don't think there's a regulatory problem in the US when a payment company uses a cryptocurrency temporarily as part of its own internal Treasury functions I believe this was a reply from one of Alex's viewers so no regulatory scrutiny there companies can use cryptocurrency internally as much or as little as they want they will not get dinged by the government for holding an unregulated product David Schwartz clarify something else here the fact that a big part of what ripple does is education a big part of what we do is explaining things to regulators for use cases where the cryptocurrency is both internal and temporary sometimes they get it and then it's all good so clarifying this right ripple is not just a tech company they are a bit of an educator they have to be because you get the product that you're creating if it's so revolutionary as ripple net is you can't get it into your clients hands unless they understand why they should use it why is it a better mousetrap David Schwartz well David Schwartz will tell you not only David Schwartz Brad Garlin house will tell you when Corey Johnson was a triple he was telling you the team members overseas in Southeast Asia in Europe all preaching the ripple gospel in order to get companies on board to grow the ecosystem and to make this thing as big as they can and as much as Warren Buffett is against cryptocurrency I saw this from Krypto - XRP that's at Krypto underscore - XRP on Twitter Bank of America to utilize Ripple blockchain so we knew about this right so this tweet I just wanted to kind of go back here this tweet was about the ripple blockchain patent that Bank of America filed last week the patent was available we are seeing that they are now using ripple technology or that they will be using ripple technology but then crypto - also sent me this here Buffett's Berkshire Hathaway raises the stake in Bank of America so it leads to this Reuters article here Warren Buffett's Berkshire Hathaway has raised its stake in Bank of America this just from yesterday the company said in a regulatory filing on Thursday the company owned nine hundred and fifty million shares yeah nine hundred and fifty million shares this guy ain't messing around of Bank of America as of July 17th so you go to the SEC form three here you can see nine hundred and fifty million chips imagine owning that many shares of anything even a penny stock Wow so here's the form you know Berkshire Hathaway really upping its game with regards to Bank of America they're not saying that they're investing in cryptocurrency directly and I'm sure Warren Buffett despite his postponed lunch with Justin Sun will still end up thinking that cryptocurrencies are garbage what he's investing in is a company that's changing the world a company that's changing the face of banking and he knows it he's investing in Bank of America but it really wouldn't surprise me if Warren Buffett also owned some XRP maybe his personal stash you know maybe not buying it through Berkshire Hathaway this all paints a very clear picture to me it's all about the regulations Warren Buffett saying it and not so many words here even David Schwartz talking about the fact that ripple really has to educate their clients on why they should use crypto currencies why they should use ripple net and how it could benefit their bank or the financial institution but wait I really just can't wait for every country to get on board with their specific crypto regulations so we can get this show on the road see that volume pumping through XRP and finally cashing out some of that stash to gain some profits anyways that's just my opinion but I want to hear what you guys think please subscribe to the channel if you haven't already like the video if you like the content I'm providing I always love hearing your comments see you in the next one guys
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