923: HERE’S THE MOST REALISTIC BITCOIN PREDICTION FOR REST OF 2022, ACCORDING TO TOP CRYPTO STRATEGIST!!

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3.6 • 626 Ratings

🗓️ 9 May 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

A closely followed crypto trader is unveiling what he believes is the most realistic price path for Bitcoin (BTC) for the rest of the year. “When the price of an asset is on an uptrend and then it catches up with the long-term moving averages, usually that’s a sign that the trend is dying down. The momentum is lost. If you cross below them, that is a bearish signal.” The cryptocurrency analyst highlights that the 20-month EMA was a reliable indicator of major trend shifts during the 2014 and 2018 BTC market cycles. “That happened over here in 2014. If we go over here in 2018, [we had] a major run-up. Trend starts to go sideways after the run-up, and then we meet the long-term moving averages. We closed below that. It’s a bear market.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	In today's show, Bitcoin witnesses its first six-week losing streak since 2014.
0:04.9	I'll be sharing with you the five things to watch out for at the Bitcoin market this week.
0:08.6	And as shared here by blockchain backer, Bitcoin closes the week below the 100-week moving average.
0:14.1	Both previous times led to capitulation to 200-week moving average in 2014 and 2018.
0:19.6	Today's chart has many differences from those two times,
0:22.2	and those two times were very similar to each other. And as shared here by material indicators,
0:27.2	historically, 69.5 million in Bitcoin bid liquidity would serve as support. But historically,
0:32.6	it also had a significant amount of liquidity below it. That does not seem to be the case here. Don't try to
0:38.8	catch this knife. And as Dan Crypto Trade shares here, the best scenario for a bottom for me
0:44.2	would be capitulation somewhere in the next few days, followed by a lower than expected CPI print
0:49.4	on Wednesday. That would be my cue to bet big. Now check this out. 7.7 million Bitcoin are currently
0:55.6	sitting in loss. This is the highest amount since April 15th, 2020. That's almost 41% of the total
1:01.5	circulating supply. And Plan B updates us here. Bitcoin monthly RSI below 50 and 50% below
1:07.6	the all-time high. And as Plan C shares, the bear's calling for $20,000 Bitcoin is the
1:12.6	equivalent call for when the Bulls were calling for $300,000 Bitcoin. And as shared here by on-chain
1:17.8	analyst Dylan Leclair, a Bitcoin dipped down to its realized price, which is the average on-chain cost
1:22.5	basis, is entirely possible and has been consistent with previous market bottoms and bare market cycles,
1:28.6	realized price is 24,300 at the moment. Also in today's show, the Luna Foundation Guard to deploy
1:34.6	$1.5 billion to bolster UST peg and build the Bitcoin reserves. As they share here on
1:40.2	crypto Twitter, as a result, the Luna Foundation Guard Council has voted to execute
1:44.3	the following loan $750 million worth of Bitcoin to over-the-counter trading firms to help
1:49.4	protect the UST peg and loan $750 million USD to accumulate Bitcoin as market conditions
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