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Bitcoin News Alerts | Daily BTC News

921: HERE’S THE WORST CASE SCENARIO FOR BITCOIN AMID CRYPTO MARKET TUMBLE, ACCORDING TO TOP ANALYST!!

Bitcoin News Alerts | Daily BTC News

Bitcoin News Alerts

Investing, Education, News, Business, Tech News

3.6626 Ratings

🗓️ 7 May 2022

⏱️ 21 minutes

🧾️ Download transcript

Summary

A popular crypto analyst is considering how low Bitcoin could go as the cryptocurrency markets head into the weekend on a sour note. “I want to go ahead and talk a little bit about what we talked about as our worst-case scenario. I’ve got to be honest with you guys, I’m gonna stick to my guns here again. This is the point that I want to bring here, all the while we could come close to it, we could come here toward $30,000. I think it’s completely irrelevant and out of the question to think that we’d come down and touch $20,000.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

In today's show, Bitcoin price heads under $36,000 has three-day losses near 12%.

0:05.8

In today's show, I'll be breaking on the latest technical analysis. And as crypto analysts,

0:09.8

rec capital shares here, looks like Bitcoin has flipped the $38,000 level into new resistance,

0:14.6

which now means Bitcoin has confirmed a return to the $28,000 range, which was home to consolidation in quarter one and

0:21.9

quarter two in 2021. And as crypto capo shares here, Altcoins index is about to break the main

0:27.5

support. Next support is 50% lower. Real capitulation below this level. Also keep in mind that two

0:33.6

years ago on this date, Bitcoin just reclaimed $10,000, so we're up over 300% from two years ago,

0:40.1

as you can see here in the Bitcoin yearly candles. You can see for 2020, we rose 304%. Last year in 2021,

0:47.2

we rose 59%. And thus far this year, we're down 22%. Also, this just in breaking news. Portugal records its first ever Bitcoin

0:56.6

real estate purchase. Also yesterday, El Salvador's Bitcoin president, Nigiboukele, met with the

1:02.2

president of Mexico. What do you think they discussed? Also in today's show, over $407 million in

1:07.8

crypto liquidated in just 24 hours as Bitcoin plunges the four-month low.

1:13.3

As Santman Analytics shares here, Bitcoin is seeing the third largest capitulation week in over a year

1:18.0

in terms of its ratio of on-chain transactions taken out a loss. The last time Bitcoin was this

1:23.2

far negative for this metric was February 16th to the 22nd when prices jumped 20% the following

1:29.4

nine days. Also in today's show, Argentina, the shutdown crypto activities to attain a $45 billion

1:35.6

alone, says the IMF, which is ironic considering the move is just days after Banco Galicia and

1:41.5

Burbank, the two largest private banks by Market Valley in Argentina,

1:45.2

stated announcing letting their customers purchase cryptocurrencies, as pointed out here by Saifadiunamis,

1:51.2

the Argentine government has been one of the world's best in destroying its currency over the past

1:55.6

decades. Why is the IMF giving them $45 billion in trying to stop their citizens from having an alternative

2:01.9

to their governments perpetually inflating ish coin. Also in today's show, here's the worst

...

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