Welcome back to cryptos are awesome George we're all George so happy Monday Happy Presidents Day the U.S market is Closed but there are a lot of economic Data to look forward to this week which Will probably bring a lot of volatility So let me talk about that a little bit And also talk about what Michael Saylor Said Bitcoin hitting 10 million dollars In the future 10 million is it possible well Let's take a look first of all you can See Bitcoin is hovering right around 25 000 yesterday when I created my video in The morning we were right around this Level and unfortunately we dipped down For some reason all the way down to About 23 8 but then we started coming Back up and now we're right back to About 25 000 again so 25 000 is Definitely the local resistance right Now but I do believe we are about to Shatter it and I have some good things To show you uh in terms of this but Uh in terms of economic data well There's a lot today the market is closed Like I said but look at look at Everything else Services okay Manufacturing existing homes fed minutes Two for GDP jobless claim PC inflation Another inflation reading and new home Sales every single one will be screw Nice every single one will be looked at And interpreted by Wall Street because
Recently we had fed uh fed uh president Bullard being so hawkish once again and Scaring people it's making people think That he's going to influence how make Him be just as hawkish so if these data That comes in are I don't know too good Let's go spook the market once again for Example of the existing home sales start Skyrocketing right or jobless claims Start going down uh new home sales start Going up you know some of the things That you want to see Services PMI Manufacturing BMI which will measure Their uh you know their output and the Inflation rate basically they may come In higher right so unfortunately this Week we're going to see a lot of Volatility if any of these data points Turn out to be good or multiple Um data becomes good I mean it's Unfortunately I think it's gonna bring The market down but we will see we will See what happens right I don't want to Get ahead of myself but Um yeah just so much data now there's Also earnings okay several several look At it a lot of Bitcoin bases reporting On Tuesday coinbase is a huge one Walmart I know you have like Nvidia Square right you have several big big Companies that's reporting this week so Probably going to affect the market as Well so combined with economic data and Earnings this is going to be a very
Volatile week to say the least now Something else has nothing to do with Anything but I noticed that Facebook or Meta is now uh getting into the Verification business basically they Beside the copy Twitter Mark Zuckerberg Probably looking for new revenue streams And deciding Elon is on to something why Don't we charge people to get verified On Facebook I'm not sure why you want to Get verified on Facebook but I guess for Instagram there's still a lot of Influencers on Instagram a lot of them Got their check mark and it was Basically near impossible to get unless You have millions of you know followers So maybe now they're just like screw it You know we just want people to pay for That uh it kind of takes away from the People that no not kind of it does it Does take away Um the clout from the people that that Earned it Um so I don't know I don't know how this Is gonna be Mark Mark these days just Seems like Can't innovate all he does is copy what Other people do but Uh it's his company he could do whatever He wants now what about Bitcoin Michael Saylor Says yes they're going to hit 10 million One day 10 million not even a million 10 Million well it's not really him he was
Actually quoting what someone else said And basically I I think I've covered This a couple of times basically there's A lot of people out there that thinks That Bitcoin is really going to steal The liquidity from other forms of Investments for example precious metals Like gold and also like Collectibles and Also like Bart we're definitely seeing Nfts do that equities with stocks real Estate bonds money I mean everything Right it makes sense people want to put Their money uh on the fastest horse and That's Bitcoin there's nothing that has Outperformed Bitcoin over the last 10 Years so as Bitcoin continues to rise You go have more and more people Especially the young people that are not Going to be putting their money into Bonds or arts or real estate or gold They're gonna put their money into Bitcoin and crypto so it makes a whole Lot of sense and if you do some Projections and Bitcoin just steals a Small tiny just a tiny little market Share from all these other investment Assets then yeah it can actually hit 10 Million someday so that's the amazing Thing Quite amazing to think about and it's Probably gonna happen sooner than Expected too many people think oh this Will take 100 years 200 years maybe not You know the projections are like within
The next 20 to 30 years and it could Come sooner than that so think about it Think about it Um but in the meantime what's going on With Bitcoin well there's still a lot of People that are looking at the pattern That Bitcoin is moving uh right now Versus before so if you apply the same Kind of trajectory as a 2019 2018-2019 Bottom and Recovery well that means Bitcoin is heading right straight up to Like fifty thousand dollars because in 2018 when we form the bottom around 3 000 it went all the way up to 14 000 Before settling down and we're doing the Same kind of growth or recovery which we Are right now that would project Bitcoin Right around 45 to 50 000 sometimes time In May or June many people have said June I mean think about it we're ready We're almost in March ready To think that we could go from you know From where we are 25 000 to maybe 50 000 By the time we hit June seems unlikely But hey Stranger things have happened and we Have seen Bitcoin go on these tremendous Runs that really make no sense but it Has it has right Um and again you look at not just 2019 But you look at even the the cycle Before it right whenever we go through These long Pro prolonged downtrends Um
Good things happen afterwards and and a Strange thing is uh based on the the Past two cycles both of the downtrend Lasted about 14 months roughly around There give and take one month right and It's no different with this down cycle We went through about 14 months of down When previous cycle we were 14 down and Then the previous Cycle 14 months down Right so Bitcoin is Doing what it always has and recovering From bottom now here's another one from Woolly Wu he created this the CBD floor Which if you look at this is measure Measure bottom pretty accurately several Times and again when we hit that 15 000 Bottom we hit that floor Mark once again So whenever we do hit that floor and We're coming back from it here's another One measuring so this is the sorp Measuring long-term holders conviction Like whether they're profitable or not Right whenever Bitcoin is in the the red Right here right but like I said Whenever we're recovering from bottom Good things happen and sometimes they Happen very fast sometimes maybe too Fast But that's why so many people think that Hey it's this there's a good shot that We could hit 45 50 000 by June which Means we'll be hitting you know once we Break through where we're at right now 25 000 we can be at 30 000 right around
The corner right so if you think about That I mean things are looking good things Are looking good and lastly I want to Talk about hey how the furry first Ordinal The ordinal Punk traded for a crypto Punk with over a hundred thousand floor Price I actually think that that's Actually pretty cheap if you look at how Much crypto punks are worth right now Um You know right now it's not Peak but When they were at Peak they had an Infinite floor price there was none on Open C for sale it's all like conducted One to one so there was really no floor Price it's it's become that that you Know that's scarce right and these very First ordinals I think they have a Really good shot to be coming that Scarce too Um so actually I think this is a pretty Good trade Um so We'll see we'll see what it does in the Future All right guys I'll let you go Bitcoin Is still right around 25 000 the market is closed today but There's a lot of stuff to look forward To in terms of economic data earnings And Bitcoin is still doing what it has Always done which is recovering from
Bottom and greater things are coming so Uh I'll see you guys tonight smash all The like subscribe to the channel and Have a good one bye
