Welcome back to cryptos are awesome I'm George we're all George so Bitcoin is Still looking fantastic right now look At it it's 24 7. we had a little Volatility over the last few days but Bitcoin is trending higher and that Makes people wonder if we're in a bull Run is it is it too early it's a Declarable run or are we actually in a Bull run because besides Bitcoin the Entire crypto market cap uh is exploding Right now 1.12 trillion and many many Projects are in the green So if we're really in a bull run well There's a lot of Articles talking about It It really depends on how you look at it Right we're definitely recovering from Bottom and we're heading into the next Having event and then After that we're heading into the Parabolic phase right so have we broken Out of the last cycle the last bear Cycle and now we're getting into the Bull cycle of Bull Run I mean you can Make that argument I guess you could Um there's a lot of metrics a lot of Signals that indicate this for example Looking at this and I did talk about This recently but the 200 day moving Average that is a huge barrier to break Big one has always used that as kind of Like a support and whenever Bitcoin Breaks below and comes back above it
That means good things are going to Happen now this one shows not only the 200-day moving average but also the Realize price there are Vol very similar At the same level and Bitcoin is just Shattered both of them has broken above Traditionally speaking this is very very Bullish all the times that this has Happened before Bitcoin went on a Tremendous rise coming up from bottom Here's another one just looking at new Addresses the number of new addresses Coming into the space still heading High Not as high as before in terms of the Momentum like how much new addresses are Being created but we're definitely Starting to go up again And here's one that's just measuring Profit loss ratio between uh between Like the retail investors and the Long-term holders right and you add it Together are people profitable at this Point well they're starting to turn Profitable and that's also very positive As we come up from bottom right so There's just a lot a lot of metrics that Show that yes we are definitely in Recovery and yes we have started that Bull run doesn't mean that we're in like The last stage of the bull run where Everything's going parabolic but we have Started and like I said as we get closer And closer to having an event the price Will get higher and higher and then
Afterwards that's when we make a new High and then continue forward right so Things are looking really good going According to plan right now and also There's a lot of similarities between What's going on right now and what Happened during the last Um bottom event this one if you look at The left side is what we're going Through right now and you look at the Right side is where uh Bitcoin was back In 2019 was recovery right yeah they Look very similar because both times we Had some kind of like bottoming event Right in 2019 Um basically I think at that time we had Mount gox we had Mount gox selling off And that's what brought us to that Bottom Point Um and this time around we had the ftxlr Right we both had like a bottoming event That brought us to a true bottom and Then when we recovered back up Right it came pretty quick and then we Really start moving right like here's Another Um broader view of what happened in 2019 Right we we stood there according to This was called a neckline for quite Some time same thing in 2022 we had that Right and then you break above and you Kind of solidify and consolidate at this Level according to this level one and Then you have this next leg up level two
And then you keep going right and that's What we may see right around this corner This this next leg up to level two which Could bring us much much higher people Are anticipating anywhere from thirty Thousand to fifty thousand right think About that Bitcoin at thirty thousand or Forty thousand or fifty thousand could Be right around the corner within this Next several months think about that So are we in a bull run You can make that argument we have Started started We're not a tail end but we may have to Started this next Bull Run already and Better days are coming right here's Another one if you're curious about the Hash rate of Bitcoin continues to Skyrocket especially if you zoom out That's the important thing with Bitcoin If you ever have doubt Short term just zoom out when in doubt Zoom out and then you realize that Things are still doing just fine and Going according to plan all right Outside of Bitcoin there's several other Projects I want to talk about including Filecoin and many of you guys may have Wondered why filecoin started jumping up Tremendously now they talked about this Months and months ago And uh it was kind of Forgotten until Now they have just announced that they Will be launching their own virtual
Machine which essentially makes final Coin into a layer one That's their goal so they announced it Six months ago maybe even longer right Now it's just kind of Forgotten now They're saying that this will launch in March okay so they want to be a Full-fledged L1 uh get out to get Outside of just becoming uh the biggest Decentralized storage player but they Want to become the the next ethereum Killer that's really what they want to Do so you look at their master plan that Is basically uh having the largest Essential storage Network onboarding and Safeguarding Humanities data that's Pretty ambitious and then bring compute Capability to data enable web scale apps So that is why there's a lot of Enthusiasm over Falcon right now why They're coming up in terms of market cap They're pretty big already Um they're over two billion dollars so Yeah you know they're they're already a Behemoth right uh sitting at number 26 And you can see the last week they went Up about 50 so definitely a lot of Enthusiasm oh man almost three billion Right so that is what filecoin is trying To do and we'll see Mom momentum excuse me can keep going Now the other one is chain link and Chain link just just declared something They declared that they want to get into
AI So they just hired a Google vet from Uh they just hired a Google vet from Google and that guy was over saying Basically uh the AI machine Learning System from Google so this guy is really Well in tune with AI and chain link Wants to get into AI in a big way Obviously right now there's a lot of Enthusiasm a lot of excitement and Speculation about AI plays AI projects Anything to do with AI right Sergey from Chen Lang he's like well This is what we want to do do AI based Fraud detection across Multiple chains now keep in mind chain Link is the biggest decentralized Oracle Network that works with several chains And and many many deaths right ZK proves To preserve privacy on feeding data to AI miles secure permissions between Ai And other systems via Oracle networks so AI Everyone wants to get involved now chain Link is going to get involved and that Is going to be absolutely huge okay so With that said 2023 for chain link They're gonna have a big year they can Have a big year because of it and right Now Um they are definitely the biggest Oracle Network by far and no one is Close And lastly as for polygon you guys know
I love polygon and they have been doing Really really well breaking above 1.50 Now right and recently within the last Six months it has been doing a lot I've Been showing about all the brands that Have onboarded into polygon but now take A look 46 million addresses okay new Addresses within the last six months They're definitely a lot of excitement a Lot of players a lot of retail investors All coming into polygon right now and This is the reason why they are doing Spectacular so tonight I'll have a Special video for you guys look forward To that and I'll see you guys tomorrow All right take care bye
