what's going on guys Patrick here bringing you a brand new video today we
got another killer video for you guys full of information today we're gonna
look at how high can Bitcoin really go comparing the best case and the worst
case scenario brawls could be looking at Manero basic attention token and tons of
other news that went on in the cryptocurrency space but guys before we
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with the interesting news so we're gonna be talking today about how high can be
can we really go taking a look at the worst case and the best case scenario
comparing the two seeing which one we think it's going to fall into obviously
looking at the time span as well I'm gonna be covering all that in this video
so first off is that bitcoins price could be worth 1 million dollars if it
becomes the world's money so this is obviously the best case scenario the
best case scenario is if Bitcoin does end up being the world currency so
according to the person who did who was writing this article in the case of US
dollar and 2 about 14 trillion dollars in its money
supply and by adding all the different currencies together it will
approximately approximately be valued at 21 trillion dollars so he added that
this 21 trillion dollars could be divided by the 21 million Bitcoin which
is the maximum supply a Bitcoin as the limit is hardwired into the protocol
which we obviously already know about this assumption according to Ryan
clearly suggests that Bitcoin price would be close to 1 million dollars so
that is a rough estimate of the future value of Bitcoin and what is it going to
be if it is the world money and the value could actually be more than that
because by the time we get there the economy itself will have grown and again
something that will continue to grow the economy is something that will continue
to grow as well so overall that is the best case scenario seeing a million
dollar Bitcoin if it does become world money honestly I think it could be even
higher than that if it does become world money I think there's a lot more that
comes into play here and we can see a several million dollar Bitcoin now is
that gonna be the case again it's gonna depend on your thoughts you think
bitcoin is gonna be world money if you think it's actually going to be able to
be world money if you think it's just gonna add as you know being a supplement
to the currents that already exist maybe the one that's used online whatever it
is that your guys's thoughts are I want to know in the comments down below just
let me know if you think bitcoin is gonna be a world money if you think
another cryptocurrency is gonna be a world money or if you think there is no
such thing and we are not going to have a world money or like one currency that
is the world's currency so definitely want to know what your guys's thoughts
are on this next up we're looking at the worst case scenario for Bitcoin so this
was a picture actually posted on Twitter which is showing the worst case scenario
for Bitcoin now obviously this is not counting the fact that Bitcoin could be
dropped or you know all of a sudden everything is banned or the Doomsday
whatever it is you want to call it this is not counting the scenario that
Bitcoin goes to zero because I think most people at this moment have realized
that that doesn't sound logical and that doesn't seem to be the direction we are
moving in so we're taking that out of the picture now the worst case scenario
in terms of growth is looking at past cycles there's something that's happened
already previously so we're analyzed previous trends in previous cycles which
is basically what technical analysis is all about I know there's gonna be
comments already there gonna be people that say oh you can't look at past
trends to dictate future trends well unless you've been living in a rock
that's exactly how everything is done we learn from previous mistakes in order to
not make the same mistakes we look at previous trends to look and to do
technical analysis and so far it's been working pretty well as that is still the
preferred method of doing things but if we take a look at how long each cycle
has gone for so in the beginning the first cycle lasted 322 days then the
next one was 903 days so you see the cycles are growing and growing every
time the main indicator that people are looking at to instigate the next run is
the halving so we have the first having over here which instigated the Bull Run
we had the next having over here which shot us up in the end of 2017 and the
third having is gonna be in May 2020 so that is going to be pretty interesting
to see they're also seeing October 2019 we could be seeing Bitcoin at $3,000
again that'd be pretty interesting to see this is if the bear market continues
to go all the way down until we have the herd the third halving and then that's
when we instigate the bull run and that in in order if Bitcoin were to follow
the cycle it's been following right now that means by august 22-23
we're gonna have a one hundred and sixty thousand dollar Bitcoin which is still a
huge huge gain so in the worst-case scenario I'm still pretty happy about it
and again it is showing as well that the bear markets or the yeah the bear mother
bear cycles we've had 161 days 413 days and the next one was 665 days right or
the prediction of where it would be right now based on previous of the
previous trends is it with last six hundred and sixty-five days now this is
following only technical analysis only previous trends however if we take a
look at what's actually going on in the world what's actually going on terms of
development although these cycles have grown longer and longer every time we've
seen the bug the bullish cycle lasts longer we've seen the
bear cycle lasts longer every time as well the full cycle that is has been
lasting longer and longer every time we haven't seen the amount of interest that
we are seeing right now gather into the space so what does that mean with things
like packed with things like fidelity coming into the market it opens the door
for a significantly bigger run and a signifi a much shorter period of time
being that we might not have to wait until you know October 2019 to see a
three thousand dollar Bitcoin to then reverse finally from that and move our
way upwards now is that out of the question again no that would be the
worst-case scenario is that and there still are lots of people and there still
is a possibility a pretty decent-sized possibility that we are going to see
lower lows before we finally reverse I know a lot of people are still
predicting those lower lows before we finally can reverse and start moving our
way to set higher highs a lot of people predicted I was gonna happen sooner I
mean it was gonna happen have had happened already I don't even know if I
prefer matically said that sentence correct but it would have happened
already at this point but it hasn't yet obviously we have been holding above
$6,000 fair a very very strong stone to be a very very strong support stronger
than I think most people expected now a lot of people like I said are still
expecting us to fall below that is it gonna happen it's looking like it's
harder and harder to happen with the amount of news and adoption that's
coming in now again I'm gonna say it be very very careful because that
possibility is still there and it's something like this you're gonna have to
take a day by day constantly keep yourself updated with the charts keep
yourself updated with the technical analysis so that if anything were to
happen if indications start to come in you'll be able to catch it
and the move will not be anything crazy now take a look what I was saying again
about people coming into cryptocurrency how the worst case scenario is the
worst-case scenario because it doesn't take into account everything that's
going on seesee the CEO of Finance everyone's
favorite two-letter named man what happens when a fun like fidelity
allocates a mere 5% of their portfolio to cryptocurrency only 5% guys only 5%
of very small percent from their total
thing from from their total total portfolio and again maybe they'll start
small maybe it'll grow eventually as it becomes a more volatile which therefore
means a higher possibility of more profit if you know what you're doing
obviously but it does allow for more profit again like I said in the trading
group for example just to use that as an example we've had over 35 percent in the
last two weeks while the markets been trading sideways and hasn't been doing
much we're up 35 percent if every single one of the traits were fought a lot of
those trades are still running as well so that just means that's something you
can't see in the regular market something you can't see in stocks and
that's why a lot of people are also shifting their attention not only for
the technology not only for the hold and long term potential but you know the
guys on Wall Street the people who want to make a lot of money with this are
also looking at the BA the opportunity for trading and how they could make
money as well in the short run this is perfect for day traders as well even if
you don't like it because it does make the market you know it does have an
effect on the market either way they're gonna want to allocate a percentage of
it so a small 5% allocation from the mutual fund assets under management guys
can see how much does fidelity manage you guys can take a look at a little bit
of their overall portfolio if you google it it'll give you all the information to
have everything out there the 5% of its funds is around three hundred and fifty
billion dollars so adding that to the cryptocurrency market would would be
able to double and almost even triple the entire market cap for the
cryptocurrency space so that is again this is huge and this is a small percent
of a portfolio of one fund which is fidelity right just one final obviously
they are a very big fun but there are countless other ones that are also
looking at doing the same thing a lot of them are probably gonna come in with
more than 5% if they are a smaller fun keep in mind same thing with companies
fidelity does have to take take their customers into consideration and slowly
ease its way into something to make sure they're comfortable with it and
understand how it's going to function to make sure their customers are safe they
have a huge reputation to maintain and they wouldn't be even looking at
- occurs if they didn't think this was a viable way to make my if this wasn't
something genuinely interesting to put your money into they wouldn't risk the
reputation on some Dicky of my reputation is key for these companies
that's how they make a majority of their money long term is with their reputation
that's how they built it to the point right now is with its reputation they
would not risk it on a get-rich-quick scheme they would not do they there's no
way they would do that so just the fact that they're looking into it already
gives me a lot of confidence in this market but again so this the
worst case scenario is August 2023 see Bitcoin and 160,000 dollars if we follow
the previous cycles however with all the news that's been coming out recently we
will probably see or these I'm expecting we're not gonna have to wait that long
to see to see the blob order I don't think we have to wait until the end of
2019 or the start 2020 for us to finally hit the bottoms of $3,000 I don't think
it's gonna be the case and then there's way too much going on way too much money
looking to come in that overall is not gonna let the prices reach that level
but again let me know what your guys's thoughts are obviously the million
dollar bitcoin is a prediction that a lot of people are making as well at the
happening that a lot of a lot of calculations have been done saying you
know what the next happening could cost us and could bring Bitcoin to over a
million dollars and we're gonna have to wait and see how everything plays out
honestly gains are gains if it goes 160k I'm gonna be happy if it goes to a
million dollars I'm gonna be happier but I'm still gonna be happy happy either
way it's all about supporting it and thinking long-term now in the short term
obviously that counter that counter is what I just said thinking long term but
in the short term obviously a lot of people are curious about what's gonna
happen what should we look out for in terms of bitcoins price and the
technical analysis so like I said we're holding the support above 6k very very
strongly and in terms of price targets or what you should be looking at in
terms of the support and resistance this article highlights it very very well so
I didn't have to open up trading view and show it there I could just show
everything in one spot main things 6810 which is the high of last week's
inverted hammer candle is the level to beat for the Bulls this week
break above 6810 would raise prospects up a sustained move above 7,000 402
which was the September high and then on the downside the support is 6121
that is the 21-day exponential moving average of 6121 like I said is acting as
the key support right now now again definitely something to take day-by-day
it's very hard to predict the market in like a medium-term span in the span of
what's gonna happen next week and very hard to tell it Matt a lot of it is done
like I said day by day looking at the technical announced understanding what
you're looking at seeing the different patterns then I try and keep you guys
updated the best I can on the possibilities there are always two sides
as well one side usually has higher probability of happening and that's
usually how trading works but you have to understand that there's usually there
usually are two possible scenarios which basically covers everything but there
are two possible scenarios that's all about finding which one has the highest
probability of happening and that's usually how trading works and that's
again the reason why no trader is successful 100% of the time now if we
take a look at the overall market 209 billion dollars in market cap with the
bitcoin dominance at fifty three point seven percent if we look at the price
Bitcoin currently has six thousand five hundred dollars not too much of a change
over here if we do refresh that see if anything changed six thousand four
hundred eighty nine dollars right now so down point six eight percent small
change relatively sideways action in the market again not too much price action
we've been trading within a 100 150 dollar region for a majority of the time
which again is very very small it's a very small region for cryptocurrency
especially especially from what the price action we've seen previously it's
just you don't usually see Bitcoin trading in a 100 dollar level but that's
what we're doing right now bitcoins the next stable cooling guys we've been
saying it for the longest period of time you guys just don't believe me I'm
kidding though I don't think bitcoins a stable coin have to clarify that now
either way Ravin coin is up 53% continuing its crazy crazy run crypto
calm is up 20% as well basic attention token which we're gonna which we're
gonna be covering today is up 16% were to be talking about Manero
and basic intention so Kinmen arrow first it becomes bulletproof the
transaction fees fall by 97% guys a privacy coin where the transaction fees
plummeting is absolutely insane so the average transaction is now 3 KB versus a
pre fork average of 18 point 5 KB so I've been saying for a while I like
Manero I think the privacy aspect is really really cool I think it's going to
thrive in the bull market I think the next bull market is going to highlight
the good project projects with actual real world application reasons for it
actually being bullish and so on I think the next bull cycle is above the next
bull run is definitely going to favor those type of CRO through those type of
projects rather than the last one the one at the end of 2017 where it favored
anything at all right the bull market just favored anything whatsoever if you
threw your money at it chances are you would make a return until obviously we
enter the bear market and people lost a lot of money very very fast and if you
sold at the bottom you made a mistake again not a financial adviser this is
not financial advice but I I believe you made a mistake now basic attention token
as well one that just been climbing look at that climb and I've been talking
about it for a while because this is what happens when you have real-world
applications this is what happens when it's actually useful it's an actual
useful token so we talked about the brave browser now I'm not gonna go into
too much detail about what it does if that sounds interesting to you guys then
again I'll be more than happy to do it other than to make a more in-depth video
about it but a basic attention token bats you can earn that on the brave
browser so guys if you don't have the brave browsers I'm gonna leave a link to
it down below for you to download it is outrageously fast it by default it
blocks every advertisement but you can set it to where it allows certain
advertisements and then you can get paid out in basic attention so you're not
gonna be a millionaire by doing it but it never hurts to accumulate some b8e
definitely another one of my favourite cryptocurrency that I've been talking
about for a long time especially while it's been going down
I've been dollar-cost averaging it I know a lot of people have as well and
I'm going to be holding this for the long run because of like I said the
actual value in it the fact that you can actually that there's an actual reason
of there's actual use for it right it's actually being used there's a working
product in the brave browser and the basic attention token is being used on
there not something we can say for a majority of crypto currencies so overall
I'm very very happy to see like to see it perform well you can pick it up on
binding so if you don't have a balance account I'm gonna leave a link down
below to that as well so you can make one and pick some up if you are
interested but don't forget I'm not a financial advisor now do I think it's
gonna continue to go up at this rate it might but in the bear market that were
in right now honestly trading sideways is better for this than in the bear
market then if we were going down so the fact that we're not going down does help
it be it it does allow for us to have this type of movement on specific crypto
currencies but if Bitcoin does drop basic attention tokens gonna drop as
well this hasn't broken its ties to Bitcoin just because it's up they've
just gonna up this much in the last 24 hours
doesn't mean it's broken it's tied to Bitcoin Bitcoin drops basic attention
token is gonna drop again if we don't enter a bull run Bitcoin doesn't start
moving upwards then it's not going to be able to the basic attention so can
probably won't be able to sustain these high levels meaning we might see another
opportunity if it drops back down to pick up some cheap basic attention
tokens and like I said it's just continue to spike but keep in caution
that if we don't enter the bull run most most of these spikes do eventually
return back down we've seen this happen with several different crypto currencies
most of these spikes are not sustained at the high levels just because there's
not really much to sustain it there if the overall market sentiment is still is
still not bullish but guys that's gonna be it for this video hopefully you guys
did enjoy if you did don't forget to leave a thumbs up and leave a comment
down below in order to enter a chance to win some free Bitcoin and of course be
subscribed and have your notifications turned on so you can check back in to
see if you did win so you can go ahead and claim it but guys thank you so much
for watching I'll see you guys tomorrow for another video
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