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Bitcoin News Alerts | Daily BTC News

995: BILLIONAIRE SAYS BITCOIN CAN GO TO $1M, EVERYBODY SHOULD OWN SOME - ISSUES GLOBAL ECONOMIC WARNING!!

Bitcoin News Alerts | Daily BTC News

Bitcoin News Alerts

Investing, Education, News, Business, Tech News

3.6626 Ratings

🗓️ 23 July 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

Virgin Galactic Chairman and Billionaire venture capitalist Chamath Palihapitiya who predicted Bitcoin hitting $1,000,000 per BTC is warning that the global economy appears on track to witness two phases of recession. In a recent interview on the All-In Podcast, the Crypto O.G. says the world is currently experiencing a supply-side recession, which he notes is the first part of the process. “We have been in a supply-side recession. That is what has caused inflation. We have to go through a process of taking all the excess money, that’s been put in, out. And when you do that, we will destroy demand and then that’ll trigger a demand-side recession… and we will destroy asset values… I think we’re still firmly in that first phase, and I hate to be the bearer of bad news, but the reason why I still think we’re in the first part of this process is because people, broadly speaking, still have a lot of savings because of all the stimulus checks. There is still a lot of money.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

In today's show, Bitcoin dips to 22,600, risking further losses if it fails to hold above

0:05.5

the 200-week moving average, quoting crypto analysts, me Calvin Day Pop. Bitcoin facing crucial resistance

0:11.1

again. If that breaks at 23,800, I am assuming, will continue, and then 28,000 is on the tables,

0:18.0

but we also have a clear breakout above the 200 week. Moving average confirmed,

0:21.9

and he also shares the most important chart is in Bitcoin, is the total market capitalization

0:26.8

for crypto, never closed beneath the 200 week moving average in the recent crash and is curling back up.

0:32.5

This would mean that we have seen the low. The most likely scenario is a continuation towards

0:36.8

$1.25 trillion and quitting

0:39.2

rec capital, Bitcoin is ceased on around the 200-week moving average all week. The most important

0:43.6

thing will be a confirmation relative to the 200-week moving average in the form of a weekly

0:48.3

candle closed. The 200-week moving average represents a price point of $22,800.

0:57.5

Also be sharing the latest from Plan B in his tale of two investors.

1:02.6

And as pointed out here, the biggest mistake the elite did was to piss off Satoshi Nakamoto so much that Bitcoin was created in 2009.

1:06.1

And now for a fun fact, if you invested $1,000 in Bitcoin, 10 years ago, you'd have over

1:10.7

$3.4 million today.

1:12.9

And check this out, quoting Prince Philip of Serbia, every country will eventually adopt Bitcoin.

1:18.3

Let's go.

1:19.2

Also in today's show, Bitcoin network difficulty drops to $27.69 trillion as hash rate.

1:24.6

Eyes Recovery, including Michael Saylor, and quarter 2, 2022, Bitcoin mining

1:29.3

efficiency surged 46% year over year, and sustainable power mixed reach 59.5% above 50% for

1:36.3

the fifth quarter in a row. The network was 137% more secure year over year, only using 63% more

1:43.2

energy. It is hard to find an industry more clean

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