Why Bitcoin going up? Will crypto recover? Let’s discuss the latest cryptocurrency news for bitcoin, ethereum, altcoins, & MORE! SLAP THE LIKE BUTTON! 👋
Use code ‘ALTCOINDAILY’ for 10% off Bitcoin 2023:
https://b.tc/conference/
Use code ‘AltcoinDailyVIP’ for 10% off Outer Edge
https://www.outeredge.live/
🔵 Altcoin Daily reveals its story for the first time | Crypto Stories Ep. 21
https://youtu.be/QAXSIyFrmkk
🔴 Kevin Smith Makes Crypto History with First Ever NFT Film (Huge Moment)
https://youtu.be/06zsOekdb5s
🟠Mark Cuban EXPOSES The Crypto Market in 2022 | Full Interview
https://youtu.be/_gmgugoJ4QE
🟣 Why Spike Lee is BULLISH on Bitcoin and NFTs | Full Interview
https://youtu.be/wAOEmO8CZVg
Follow us on Twitter:
https://twitter.com/AltcoinDailyio
Follow me [Austin] on Instagram here:
https://www.instagram.com/theaustinarnold/
TimeStamps:
00:00 Bitcoin Price REJECTED at 200-Week Moving Average
01:29 Bitcoin Up 64% Since November
01:46 The Truth About Bitcoin Volume Today [Up or Down?]
04:19 This is Bad for Bitcoin? [DXY Analysis]
05:51 What Changed w/ Dollar Strength?
07:49 Who is Altcoin Daily? [Untold Story]
***********************************************************************
🏺Support The Channel!!🏺(We Get A Kickback From These Affiliate Links)
— Buy Bitcoin on Coinbase and we both receive $10 in Bitcoin!
https://www.coinbase.com/join/arnold_w23
— Get a Nano Ledger S: Best Way to Keep your Cryptocurrency Safe!
https://www.ledger.com/?r=29fd4d75e9bc
***********************************************************************
#Bitcoin #Cryptocurrency #News #Ethereum #Invest #Metaverse #Crypto #Cardano #Binance #Chainlink #Polygon #Altcoin #Altcoins #DeFi
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! USE ALTCOIN DAILY AS A STARTING OFF POINT!
Coins I hold or will hold more than $1k worth (in no particular order): BTC, ETH, ADA, MINA, SUPER, FEAR, XCAD, XDEFI, ERN, OPUL, LINK, TRUST, NIF, VPAD, GSG, Itheum, METIS, BICO, SIS, VPP, BNB, FRONT.
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
bitcoin, cryptocurrency, crypto, altcoins, altcoin daily, blockchain, best investment, top altcoins, altcoin, ethereum, best altcoin buys, bitcoin crash, xrp, cardano, chainlink, 2023, ripple, buy bitcoin, buy ethereum, elon musk, bitboy, coin bureau, graham stephan, crypto market, bitcoin prediction, the fed, Web3, andrei jikh, cnbc crypto, sbf, ftx, bitcoin crash, crypto podcast, february, bitcoin price, Crypto News Today, cnbc, cnbc interview, ta, 200, week, ma, moving average, bitcoin price, dxy, the fed,
If you hold Bitcoin I would be very very Careful right now this is the Bitcoin Price chart on the weekly and as you can See just in this last week Bitcoin has Been rejected off that 200-week moving Average this is a very significant Metric in bitcoin's history and first Off relatively speaking Bitcoin hasn't Existed for that many weeks but ever Since we've had enough price data to Calculate this metric bull market or Bear Market the Bitcoin price is always Road Above This indicator why this is Significant to you and me is because Moving averages are a very clear way to See momentum in a market and while There's been select times in bitcoin's History in the bear markets that we have Broken below for brief periods before we Shot back up for the first time in Bitcoin's history back in 2022 Bitcoin Broke below and stayed below that 200 Weekly Ma and we're still fighting to Recover now keep in mind that moving Averages are lagging indicators meaning Something like this you won't be able to Time the exact bottoms nor will you be Able to time the exact tops but this is Good for seeing a trend change in order To feel more confident that this isn't Just some fake out some bull trap some Bear Market rally to trick you to trick Me I'm still waiting for a breakout and Ideally a breakout followed by a retest
And then a confirmation to that break to The upside now the Bitcoin price is Is up over 60 percent in these last few Months from the FTX crash lows now Another chance a new chance a new weekly Candle starts today for Bitcoin are the Buyers exhausted or can we keep going I'm not a financial advisor I cannot see The future so make your own decisions But for me we can look to a few other Key metrics exchange traded volume in USD so this is Bitcoin versus USD the Total USD value of trading value on all Major Bitcoin exchanges and just for Perspective subscribers of this channel Know this it's been over a month ago now That we started doing weekly updates on These metrics every 7 to 10 days we Check back in and back then you Corrected me rightfully so Austin you Can't just look at the volume for one Exchange you gotta look at all exchanges That was great advice when you make a Comment I try and read all comments as Best I can so again is the total us USD Value of trading volume on all major Bitcoin exchanges growing stronger or Growing weaker well this black line in The back very recognizable it's a Bitcoin's price history over the last Three years compared to bitcoin's Trading volume in the blue on all Exchanges this right here was that September FTX collapse sell-off for
Bitcoin as you can see massive Volatility massive trading volume as People were selling in panic you can Also see back in the bowl run of 2021 Healthy steady consistent volume Increases as that bitcoin price went up My concern is right now especially in This last uptick as we hit that 200-week Moving average Bitcoin volume was small Relatively speaking compared to what we Know it could be in fact if we zoom in Let's just look at one year every time We head down we see these massive volume Spikes the volatility of people selling And while this initial pump back in January you know early this year the First three weeks pretty healthy as the Price increases the volume is declining Something to note and again when in Doubt zoom out will go back to the three Year and comparing when this black line Was at a similar level when the price Was at similar levels actually let's Start by looking in 2020 that pandemic Crash we see one two three even four Five maybe you count the six maybe you Don't but five different times volume Was much higher at these 20K levels Showing that the buyers were clearly There the buyers were stepping up again Great for showing sort of a momentum a Trend in the market again not the end of The world but just something to note and Going further
What about macro because Bitcoin in all Markets really are affected by macro as Of two days ago the strength of the US Dollar the dxy the Dixie the dollar Reaches an inflection point a critical Level for crypto continuation and before We jump into this we can quickly double Check on the strength of the dollar dxy This is the dollar Index on the weekly Starting from around 2012 till today and We can see ever since 2021 since when Around the Federal Reserve started Aggressively raising rates the strength Of the dollar has only increased now Zooming in we see that the strength of The dollar did take a little breather Took a little dip several weeks ago and That allowed all these other markets to Rally off that yet since we've started Creeping back up this is that inflection Point why this is significant is because If the dollar is stronger people want to Hold the dollar that means less money to Other assets that means less money going Into crypto and specifically for Bitcoin Because USD is one half of most Cryptocurrency trading pairs due to the Dollar being the global Reserve currency When the dollar is strong the other side Of the pair weakens these last few Months were nice they have provided a Much needed relief rally across asset Classes thanks to Falling USD but now Where we stand today after retracing
Back to kova levels the dxy is again Attempting to find support and what Changed what happened well we know that The reason the strength of the dollar Despite heavy heavy inflation basically This just shows that the strength of our Garbage our Fiat in the U.S is stronger Than every other nation's Fiat that's Why the dollar strength is going up we Know the reason that we started this Incredible run is because of the Federal Reserve such aggressive rate hikes Strengthened the dollar and thus Weakened other markets now in these last Few weeks the Federal Reserve did become Slightly more dovish did suggest that They're slowing their Pace instead of Seeing these 75 basis point increases The rhetoric the language started to Adjust to now we're easing we're only Going to see a few more 25 basis point Increases and then probably hold and of Course what happened the markets Anticipated we had a little relief of Course again what changed what just Happened to cause this inflection point As this channel broke down just three Days ago we got the new data meaning the New CPI data gives the FED more Ammunition to continue tightening so yes Technically we are going down but it's Sticky inflation is not going down as Easily as we all thought despite how Aggressive the Federal Reserve has been
All this of course affects you affects Me affects Bitcoin so as we look into This next week knowing that we just got This rejection off the 200ma Understanding that volume isn't really Strengthening volumes getting weaker and Then seeing that the strength of the Dollar has started to inflect back Upwards as people anticipate Jerome Powell's next move be very careful this Week thinking they were already back in The next Bull Run the minute these Metrics change or I get new information I'll make a video I will keep you Updated and some of you have been asking Who are you who is altcoin daily what is Your background well coin Telegraph the Channel then the media site just did an Awesome breakdown on our story altcoin Daily reveals its story for the first Time crypto Stories episode 21 so I will Link this down below check it out if You're wondering who I am who is altcoin Daily
