A lookatthesetweets, HunterHorsleywrote S and P isnegative 7.6% today, basedonhistoricalvolatility, a negative 7.6 moveinthe S and P isequaltonegative 41% inBitcoin.
Yetinthelast 24 hours, Bitcoinisonlydownnegative 5% andonly 1/2 a percentsincemidnighttoday.
That's uncorrelated.
Thetreasuriesareup. 00:00:58.590 --> 00:01:3.200 That's a negativecoral, whichis a differentthing, andthenwehadnavalshareAtthemoment. 00:01:3.200 --> 00:01:8.440 Bitcoinisnot a generalhedgeagainsteveryblackswan, it's stillbehaveslike a riskontrade. 00:01:8.520 --> 00:01:22.430 ButlongtermBitcoinis a hedgeagainstcentralbanksprintingmoney, whichisinevitableas a reactiontothevirusandthentaking a lookatoneofmyfavoritecryptoanalysts, JoshTragerhadtoshareregardingtheCoronavirus, hesaid.
TheintensedowntrendthatBitcoinhasbeencaughtwithinoverthepastseveraldaysandweekshasledtheaggregatedcryptomarkettosimilarlyseesomeintenselosses, withEthereumand X R P andmostothermajoroldcoinserasingthebulkoftheir 2020 gains.
Inspiteoftheovertbearishnessofthepriceactionscenethroughoutthepastfewdays, itisimportanttonotethattheaggregatedcryptomarketmaysoonsee a notableshorttermrebound.
ThecryptoMiss, a popularcrypto.
AnalystsonTwitterexplainedin a recenttweetthatshebelievesbothethereumandlikecoinmayseesomeupsideifthey'reabletoholdabovetheirkeysupportlevelsat $195 and $48 respectively.
Taking a lookathertweetoncryptoTwitter, shewrote, Hashtagopium. 00:04:58.730 --> 00:05:2.800 Bothethereumandlightcoinhave a fewhourstoholdontotheirbullishpattern. 00:05:2.800 --> 00:05:9.690 Supportlines, a theoryonmustholdabove 195 andlightcoinmustholdabove $48. 00:05:9.750 --> 00:05:10.650 Solet's take a look.
Ethereumisdefinitelyabove 195 currentlytradingat $203 andlightcoinisabovecurrentlytradingatjustabove $50 soBitcoincouldspark a massivemarketwiderallyifitbouncesatthiskeylevel.
CryptoBullet, anotherpopularcryptoanalystsonTwitterexplainedin a tweetthatBitcoiniscurrentlyapproaching a keymacrotrendlinethathashistoricallysparkedexplosiveupwardmovements.
Taking a lookathistweetonKryptonTwitterBitcoinonemillionlogscaleupdate.
Let's onceagaintake a lookatourbelovedlogscalechart.
Thishadgivenmuchoftheeconomyitsworstdaysincethe 2000 andeightfinancialcrisisBitcoinincreasinglyuncorrelated. 00:06:56.170 --> 00:07:1.230 OnMonday, currencymarketsandstocksledthelosses, whichwerelaterjoinedbymarketssuchas U. 00:07:1.230 --> 00:07:2.650 S governmentbondyields. 00:07:2.720 --> 00:07:5.310 In a moveunprecedentedinhistory, theentire U. 00:07:5.310 --> 00:07:15.010 S bondyieldcurvedropbelow 1% signalanintenseconcernfromtradersover a globalrecessionandoilpricewarand, ofcourse, Coronavirus.
Notinghistoricalbehaviour, HunterHorsley, theCEOofBitWise, saidthatBitcoinwasperformingmuchbetterthanbeforeversusthe S and P 500 inparticular, taking a lookathistweetonKrypton, Twitter, S and P isnegative 7.6% today, basedonhistoricalvolatility, a negative 7.6% movein S and P isequivalenttonegative 41% Bitcoin.
Yetinthelast 24 hours, Bitcoinisonlydown 5% andonly 1/2 a percentsincemidnighttonight.
Andifhistoryrhymes, thenyoualreadyknowwhattoexpect A newalltimehighfortheBitcoinpricethisyear. 00:12:57.260 --> 00:13:7.440 I willnotbesurprisedthatBitcoindwarfsthepreviousalltimehighsetinDecemberof 2017 whichwas $20,000 makethatlooklikechild's play. 00:13:7.450 --> 00:13:20.990 And I alsoaninagreeancewiththestock, theFlowmodelandPlan B withthepredictionthatBitcoinwillreach a sixdigitprice, whichmeans $100,000 ormorebytheendof 2021.
Butwhatyourthoughtsletmeknowinthecommentsrightdownbelow, and I wanttoencourageyoutocheckoutthedescriptionrightbelowthisvideobyclickingonShowmoreinthedescriptionrightdownbelowfor a detailedanalysisofwhat's goingoninthemarket.
Tekeisgoingtobesharingfivetinycryptocurrenciesthatcanturn a $500 investmentinto $5 millionthanksto a cryptomarketphenomenonguaranteedtohitinroughly 50 days.
LastyearherecommendedChainLink, whichendedupbeingthenumberoneperformingcryptoassetintheentiremarket, right, andhedidthatliveon a webinarinfrontoftensofthousandsofpeople. 00:16:53.840 --> 00:17:3.190 Then, in 2018 herecommendedtohisreadersandsubscribersBNBCoin, whichwasthebestperformingcryptoacidof 2018 during a cryptthewinter. 00:17:3.190 --> 00:17:6.230 Itwasliketheonlycryptothatactuallywentupinvalue. 00:17:6.300 --> 00:17:14.260 Andthen, in 2017 herecommended a tinycryptobythenameofRipple, X, R P, whichwasthebestperformingcryptoacidofthatyear.
Andthenin 2016 herecommended, andhewrote a reportspecificallyon a theory, um, backwhenitwastradingatjust a fewdollars.
Soforfouryearsstraight, hehas a trackrecordofpickingthetopperformingassetsintheCrypt a market, andfor 2020 I'm anxioustoseewhathehastoshare, especiallyleadingintothehavingliterally 61 daysfromtoday.
Sobesuretoregister.
I lookforwardtoseeingyouthere, and I'llseeyouontomorrow's episodepiece.
Let's onceagaintake a lookatourbelovedlogscalechart.
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