You know jerry, i'm, not going to tell you that these will increase in value or even hold their current value. The truth is you bought them because you like them, they have value to you that's. What matters [, Music ]? What's, going on guys? It's kw here with another episode of crypto zombie.
Welcome back to the channel hope you're having an excellent day today, bitcoin and cryptocurrencies having a very mixed day, bitcoin still leading the way up. One percent today lots of the altcoins in the mild red as all eyes, are on bitcoin attempting to put in a new all-time high.
So are we going to have a 60 000 bitcoin by the weekend, or is this going to just simply end in disappointment? The same way that it ended in disappointment the fact that oracle lots of people thought they were gonna announce a big bitcoin purchase.
Well, they had absolutely no mention of it whatsoever at their meeting, so some people were a little bit disappointed about that. So is this just a big fake out and we have to go and fill some of these lower levels? Well, i do want to talk about that today.
I want to discuss the fact that goldman sachs specifically, though says that there is insane demand right now. Now we were speaking about the bitcoin whales actually showing that the distribution of the whale wallets showed that they were selling bitcoin.
But yet the price was going up - and i did have some theories about that yesterday, but in today's. Video specifically talking about ethereum, it looks like some of the miners are planning an attack on the ethereum network, so we're going to talk about what this means.
Should you be worried? Is this going to affect the ethereum price? All of that today? If that sounds good to you, you know what to do. If you're, not subscribed, well, consider it. We do these videos every single day and without further ado, let's dive into the chart.
Now the one thing on the bitcoin chart that i actually find interesting is that we did actually come down here and wick at the top of this diamond, and remember i told you guys we were putting in this diamond pattern right and you can see right here As soon as we got above it yesterday, we came down and we wicked exactly to the top of the level.
So this is showing that the bulls are still in control. They are still trying to push the bitcoin price up to new all-time highs. Obviously, the levels that we are looking at is the 58 200 level we don't have anything else, but price discovery above that level.
So that is what we need to break above now. If we fail to break above that level, as i told you yesterday, i do still believe that we will be supported by this trend. I think anywhere on here would be an amazing opportunity.
If you're looking to trade bitcoin, i wouldn't be looking to short just yet, although technically this is consolidation below the previous high. But as we know, the trend is your friend and has been our friend right so far.
So, even if we were to take a dip, we're. Probably gonna have some kind of a bounce here. If we were to fall below this level right here, then i would be getting a little bit more cautious. So you know if we're down in the 47 000 level, that's, where i would start to get a little bit cautious and then, if we were to fall below the 44 000 level, then we have to go over to Our previous blue box territories - and we are looking for that ultimate fill - that i've, been talking about for multiple weeks on this channel, which is my ultimate low goal at 40 000.
Could we see a wick down to 38.39? It's possible, but right now, having a look, you'll notice that we are still above the critical resistance you can see when bitcoin was trying to break above this level.
We hit it multiple times multiple times, and you can see right here. It acted as resistance again. If we bring the line over a little bit more, it acted as resistance again also as resistance before this big move, and just now we are actually having support.
So, as far as today goes on the short term, bitcoin is still looking like it's trying to push higher. But as we approach the weekend, we do know that things can get a little bit crazy, but let's. Talk about some fundamentals: we have an israeli investment, firm, alt, shuler, shaham, investments that serves pension funds and other clients has revealed the purchase of 100 million dollars worth of bitcoin, which has now doubled to 200 million dollars and, interestingly enough, our good old buddies over at Goldman sachs apparently have had a change of heart.
They go on to say that customer demand towards bitcoin continues to expand for the banking giant. According to the ceo john waldron, he noted that the organization is looking to develop and release a bitcoin etf, which is somewhat surprising having uh, you know in mind the bank's, hostile approach and views until recently, so he outlined the rapidly growing client Demand and added that we are regulated on what we can do.
We continue to evaluate it and engage on it, and i think what we're really seeing here is that everyone is just having to get their hands in bitcoin right. We're, seeing the naysayers turn around and now try to be custodial solutions.
We're, seeing it get put on the balance sheets according to goldman's president, though the bank's, plans won't stop there. The organization has requested details on how to become a fully regulated digital asset custodian.
He explained that goldman could currently custody such assets, but can't principle them as it's, not regulated to dealing with digital currencies. Yet, however, there is a bit of a concern, and this actually comes from mark mobius.
Obviously talking about the over 600 increase in bitcoin in just the past year. He's. Also talking about these stocks right talking about tesla, putting it on the balance sheet micro strategy, putting it on the balance sheet - and he says he's - a little bit worried that maybe tech stocks are getting too correlated with bitcoin with bitcoin leading the Way saying that if bitcoin was to have a sharp hit that he thinks that these tech stocks would get hit badly, he says i fear um.
By the way he's saying he doesn't want the price to decline. He's, just saying that he would keep his eye on it as an indicator, so very interesting to see that bitcoin is really getting accepted, like you know, full on in the fintech space you know now that guys, like tesla, have bought it etc.
Very very interesting: now we were let down a little bit that oracle's. Claims of announcing a 72 000 bitcoin purchase yesterday was left unsubstantiated by the executives. So it says that um there were claims that they were going to buy a large amount of bitcoin.
Confirmation should have come on wednesday, but an earnings call failed to confirm their suspicion. So some people were saying that had to do with why bitcoin took a hit, because everybody was let down that larry ellison did not disclose an investment in bitcoin, but he did disclose the fact that he was bullish on the trading environment for the coming year.
So entrepreneur jeff booth, he had a little bit of something to say about that. He said for those caught in the day-to-day pricing of bitcoin. It is a long journey and the fact that oracle hasn't bought yet is actually a very bullish.
Sign. Signaling, just how early we still are so there you guys go there, you go. There is a silver lining on every cloud, but you know who did go all in on bitcoin peter schiff's, son spencer schiff. He says he went all in on bitcoin on the last drop below 50k 100 of his portfolio is now in bitcoin.
He sold the last of his silver stocks to raise the cash. If my own son, is this brainwashed, imagine how vulnerable most kids are. He's, hodling to infinity or bust and pomp says well. At least someone in your family is going to grow their wealth this year right, but it is looking good for bitcoin and cryptocurrencies.
We're, seeing the interest from these publicly traded companies. We're, seeing interest from these investment firms. Goldman sachs looking to custody, bitcoin paypal, releasing the opportunity to buy bitcoin.
We're, seeing advancements even in the background, with the lightning network. I know we don't talk about that too much and now gary gensler uh biden's pick to head. The sec has been approved by the senate committee and we know that gensler has been somewhat pro-bitcoin, although maybe he hasn't come out and said it exactly.
He does say that we do need regulation around bitcoin and cryptocurrency and not in the means of banning it, but actually in a way to make it more accessible and to understand our guidelines right. So this is a very bullish thing and i'm.
Happy to see that gary is actually approved by the senate committee. Now, however, we do have a little bit of fun. We got some fun today right and that is that aetherium could be potentially under attack by some angry miners, so in a show of force against the implementation of the ethereum improvement proposal or eip 1559.
On april 1st ethereum miners are planning to direct their hashing power to the ether mine mining pool, which opposes the proposal. The coordinated action will last 51 hours signifying their intent to harness more than 51 percent of the network's, hash rate.
During that time, the activists plan to analyze what will happen to the ethereum network under the guise of educational purposes. Now this is something we haven't seen. So if you're asking me kdub, what does this mean for the ethereum price? I don't really know i don't know if this is going to be something that everyone is going to fud or if it's going to be a whole big, nothing sandwich i'm, not Too sure i do know, though, that they are planning on doing this on april 1st, which is april fool's day, so not saying that this is a big prank just to freak everyone out but april 1st yo, he's, got To be a little bit cautious on anything on that day right, so it says that ethereum miners generally oppose eip 1559, because it will swap the current bid system base for set fee base model, plus a small tip for minor compensation.
In a nutshell, it's, likely going to cut the miner revenue. They're, not going to be making as much money right. So this is something that upsets them. Now shout out to michael d carter. He's. The host of bitsbytrippin - this is youtube video down here.
If you guys want to check it out, he explained that the movement's motives by or explain the movements motives by saying that they want to demonstrate that miners can coordinate their actions. A show of force like this is not attacking the network.
What it is showing, though, is that miners can coordinate and any tick up for ether mine, which right now has less than 40 percent of the ethereum network. Any tick up towards 51 shows that a focusing of hash power can occur now.
Carter points out that the proposal of this is to run an experiment on the ethereum network, so it's, not necessarily like they plan on doing anything nefarious. Okay, they're, just trying to prove a point.
I guess to make a statement um. He says so the moment that the activists have the potential for a large drop in total yield. Sorry guys, my i feel like i need some water and i don't have any water i should have.
I usually have a jug of water. Next to me, i don't know i we actually had to make this video super. Quick today so um, but he says the moment that the active that that activates, you have a potential for a large drop in total yield.
That, coupled with a low price, if that was to occur, creates a shelf essentially that hash power will fall off from. So, under this scenario, carter says an incentive structure is now in place for a would-be attacker to exploit the reduced hash power.
So, like i said, i don't know if this is a bunch of fud it's developing this is my first time hearing about it. Um i've heard of things kind of like this in the past. You know we've, seen a lot of things, especially with bitcoin.
We've, seen miners rebelling, we've, seen forks, you know, chain splits things like that. This is on. Ethereum, though, could be a little bit of a different animal. However, coming down here, reddit user uh dc investor, he slammed the actions of the ethereum miners planning to participate in the april first action.
He accused them of having an extractive mindset. That cares for nothing, but getting paid, adding their actions will hurt all stakeholders in the near and long term. He says: ethereum is just a network that pays them.
They love it because it's paid them a lot, but they have zero attachment to the community users or apps, because, according to the f2 pool, lead f2 pool has really been getting some some flack. Lately many miners don't even use the network, so it definitely could get a little bit bumpy.
I don't know how this will fundamentally affect the ethereum price. Having a look at ethereum, ethereum uh had a little bit harder of a rejection here, whereas bitcoin actually got above this trend. Uh ethereum got held down by the resistance.
The resistance is still acting as resistant, so ethereum is struggling a little bit more to have that breakout move in comparison to bitcoin. However, i did note in yesterday's. Video that it does look like ethereum, has attempted to put in a bit of a bottom on this ascending trend for ethereum bitcoin pairs.
So i don't know what this fud. You know how this flood is going to affect the price, but from a technical standpoint, this looks like ethereum should at least minimally have a bounce on its bitcoin comparative and come up to at least hit this line right here, which you would think would obviously translate Into its dollar value, unless bitcoin just took a crazy, crazy plummet and then ethereum stayed where it was, i guess technically that could change it too, but you know coming back and having a look at this bitcoin uh, this bitcoin chart right here, um, you know.
If i could just clean this up a bit, you'll, see that we had the trend right here. You see that i pointed out and bitcoin actually flipped above it, whereas unfortunately um ethereum is still held below it.
So yeah we'll, have to see how that how that goes. Let me know what you guys think about that, but i do want to end on some positive news. If this is even considered positive news, but yeah, apparently we had an nft.
That was bought for fifteen thousand dollars in 2018, just sold for eight million dollars. It's. This crypto punk alien someone, someone somewhere, thinks that this is worth eight million dollars. I don't have much of a comment on that, but if i had it, if i had eight million dollars, i would be parking it somewhere like bitcoin or not, not an nft.
But what do i know i mean i guess this is. I guess this is worth eight million dollars. Let me know what you guys think about that below in the description, but that's it for me today. Thank you so much for coming back to the channel today's.
Update was a little bit quicker than usual. I got a lot of things going on, but you know i couldn't leave you guys hanging get subscribed if you haven't hit the bell notification. If you guys are interested in learning how to trade head on over to buybit, i do have a tutorial and yeah that's about it.
For today, uh we have thousands of dollars and bonuses below check it out all different types of uh. You know between ledger different discounts. We have you know uh trading, fee discounts. If you want femex, they have ten dollars a month.
Unlimited trading that's, it they never hit you for any other exchange fees, so check that out below guys. That's it. For me my name is kdub. This is cryptozombie until next time stay, crypto and, of course, peace out.