Are We Headed to a BITCOIN Crash? THIS WEEKEND'S Prices MUST HOLD! U.S. Treasury Secretary Slams Fed

welcome visual asset news take a top stories and cryptocurrency digital assets and break them down to bite-sized pieces today there's only one story and the story is which way is Bitcoin going is it going to drop all the way down to $4,000 or maybe 60 to 50 like this article talks about or it's gonna go up to 8,000 and above let's take a look but before we do that I want to say thanks to everybody for bringing this channel up from zero subscribers all the way back at the end of November 2019 to over 25,000 subscribers as of today April 11 2020 so just over four and a half months we went from nothing to 25k so it's amazing to me that we're able to do this to get to this point so I want to say thanks to everybody and again this isn't my channel this is everybody's Channel the things that you guys write in the comments section I take a look at and that gives me direction as to which way we are going to go so thanks for everything and hopefully we can continue on and do good things so let's get into today's stories so first and only up it coins 6 to 50 so what this is talking about is the traders traders and analysts and they're taking different things all over the board but right now from what I see it doesn't look too bullish we'll just say that many traders are expecting the price of the King crypto to continue as a bearish reverse and their predictions traders say that Bitcoin is targeting at least the 6,200 area but it might nosedive even lower so real quick let's take a look at the market today April 11th looks like we're at 67 93 let's hit the refresh maybe it went up and now that so that's where we are at 69 313 155 either a dollar always a dollar extra P 18 cents Bitcoin cash 223 hey not too shabby then Bitcoin SV ever taken a nosedive is just a little 3% over 24 hours so not too shabby right now so this is going to go over a couple of different analysts and what they predict and some TA stuff but you know me I am NOT that much of a into ta mine is all about what is the news what is going on out there what is going to shape this crypto current in just last that space so we'll take a look at this first and we'll go to the news a little bit later so prominent raider crypto Don alt nice name a share this prediction with his one hundred thirty eight thousand six hundred followers on Twitter saying that he is looking at three support levels should Bitcoin close beneath the confluent resistance this weekend and first of all let me tell you this I have no idea what that is no idea so I had to look it up because I do not trade on T a person and it talks about this was from April 9th if they dated from the confluence tool suggests that Bitcoin will have a hard time continue with the trends above 7400 especially with the strongest resistance at 7436 and like we just saw we're looking at around sixty eight sixty seven hundred dollars and it's been dropping so I'm not sure what to tell you but how I got this information it brought me to this this article but there was some interesting aspects just here in and of itself so this was all about a price prediction again April 9th states Bitcoin USD delicate at 7200 is the bottom in confluence detector and talks about how the Bitcoin price holds it up 7,200 support but a trader Heinrich or Henrik zeeburg predicts fall to $1000 great Bitcoin USD could smoothly sail towards 8,000 if the seller congestion at 7436 is cleared so what it's gonna talk about here talk about the other article running go back to is we need to hit specific numbers to sail all the way to 8,000 right now it doesn't look like we're hitting those numbers so it might be more of a bearish trend and also looking at factors globally which we're going to do a little bit and does not look too fantastic anyhow according to a crypto currency trader macro economists Henrik zeeburg zeeburg Bitcoin is delicately balancing above the 700 support zebra believes that most people are fighting to understand both Bitcoin and gold and in his opinion both assets are grinding closer and closer to another wild sell-off he predicts bitcoins fall to $1,000 after revising the target from $2,000 now look I not a big proponent of gold however it's been around for thousands of years and it is a safe haven as they call it now that is debatable and as the it is a subject for another video however I see it as the safe haven which are perfect of which are Bitcoin which could be a store of value and gold it is an old-school type of mentality that go towards gold and it is a younger generation that gold goes towards Bitcoin I believe Bitcoin has many advantages over gold however that will remain to be seen as things shake out but this is what this trader is talking about so let's go back to the article all right this is back to Don alt so the mark on the chart approximately 60 to 50 area is is his highest target among those four giggles vocal bears may expect 4200 4,000 the target in between the trader mentions is 50 to 50 so to make this simplified if it closes below 70 200 like we just talked about this weekend then you can expect this it's gonna be sixty two hundred dollars if you're bullish and that's on a good note it's about 50 to 54 realists and $4,000 for those bears out there and this was a blow-up of his actual Twitter I what he was talking about as far as ranges so you can see here if I do 54 pretty much yeah normal folks Giga Bulls for the bullish maybe 64 fifty maybe sixty two hundred and then the support for the bear tour it's pretty funny around $4,000 so it all remains to be seen again it doesn't look like we're going to hit those higher numbers over the weekend but we will see it's only Saturday Sunday is just around the corner moving on trader credible crypto is drawing his fellow errs attention to the sixty-four hundred sixty two hundred marks calling them crucial ones on the chart right now those are necessary for Bitcoin to hold the trader elaborates otherwise it may print more losses and head down to 5,300 so sure and all D sign here it's drop the drops below 60 hundred expect buddy 300 that's really all it is and then traitor XOXO is a similar video I'm not getting to right meet it because it's all the same stuff and then the last one this was the most interesting one trader known as Satoshi flipper sounds more positive and he's expecting everything just to go to 7,000 no matter what essentially not no matter what but he does make a pretty good analogy around analogy but an assessment here he says Bitcoin below 7000 is still a gift for me maybe he probably bought it pretty early maybe at the 2000 3000 level I don't know but here's how I'm hoping this will play out but be ready in the in the event we break down however if we do break down I'll be adding a small fortune to my alts USD T pairs I have another short hedge open for insurance so I like this guy I like I like his style he's he's out there he's like look if it goes up I'm in a good position if it goes down I'm gonna hedge my bet and I'm still in a good position and I and he's just preparing himself for both scenarios so you gotta love that so with all these different analysts and traders out there going well it could do this or it could do that baguette based on these numbers and the Fibonacci levels and that'd on things that I just do not get into this is the problem that I see we saw the economic report and it's coming out fast and furious we saw the unemployment rate go from 6 million for one week then the unemployment benefits that were tried to be given out are the people that actually filed went up to like 6.5 million so we're looking at an unemployment rate in this states around 13% and those numbers are only due to go up and then from all you people who have been commenting and telling you what's going on in your area I know Canada is also being hit hard Europe Australia very hard so this is just not this is a global issue and the coral virus is wreaking havoc as it goes all the way through so to me the different levels that we see on charts is a good place to start I mean for you if your TA person but you got to back that up by real world data about what is going on and I can only see negative aspects and not only that it's not just me I mean I'm gonna let you listen to the US Treasury Secretary what he says about it that's exactly where we are not just today but look around the corner a little bit what are the next turns in this crisis as far as we can discern them we hear the Fed did something really good for the markets at the same time we also heard this week so many tenants for example not being able to pay their April rent I think what the Fed did is surely right for the short run I think it's a mistake always to think that the provision of liquidity can override fundamentals and that lending money can fill fundamental gaps we're having no revenue effectively for a large number of retail establishments we're having no revenue for many landlords residential landlords we don't know how this is gonna play out tenants aren't gonna pay the landlord's in many cases staples for example cents not gonna pace landlords at all what about landlords landlords are all levered way up are they gonna pay banks if they don't pay banks are our banks gonna be able to meet their liabilities given the depletion of their capital how is that gonna end the Fed can make a lot of loans and mannequins if somebody can decide where the seniority of those loans is relative to other claims but a substantial part of this is certainly going to end up back on taxpayers and there may well be some very substantial uncertainties along the way so I don't think this is resolving problems this is postponing problems and we're gonna see how they get dealt with over time I'm not sure what the answer is going to that's never reassuring when a former US Treasury secretary says I'm not sure what the answer is going to be as he was involved in the policy that shaped the nation so here we are in a dire situation with the chrono virus coming all the way through small businesses have shut down people have been laid off and there is just a huge economic downturn the problem here is that as these types of issues start to resolve as we start to get less infection rates less death rates as we start to reduce the social isolation and people actually able to go back to work a lot of situations these people have no jobs to go back to so now they're in the process of finding your jobs also the small business owners that were in business now they are applying for loans there's only so much that they can actually get there's only so much money that they're going to be able to use to keep their businesses open when everything starts to fire back up and to me I see this as a very negative downturn coming up now I could be wrong we could hit everything on all cylinders starting in you know a month and a half to two months everybody goes back to work and boom everything fires up I just don't see it like that and the former US Treasury secretary is kind of the same boat he's like I'm not even sure what's what's going to happen so yeah we'll see it'll be interesting times but expect turbulence and that's really all I can say now there is one big thing coming up and that is the earnings report is due to come out on Tuesday April 14th if we see massive negative earnings as far as like huge or big businesses coming out also the unemployment numbers as they start to climb if they skyrocket look at what's going to happen to the market I expect the tumble quite precipitously and very quickly I just when I look at the S&P 500 when I look at the crypts of currency market it just kind of stands me that things are actually going up and it's just like I don't know what is driving it I mean there's economic factors as far as like the president on stage is kind of you know you have a stimulus package for trillions and joins of dollars however you can't print your way out of this it just doesn't work like that anyhow so those are all the different parts of it but let's play that was advocate here let me show you the flip side of this because for one negative aspect we can take a look at the positive so let's take a peek so article talks about shorting Bitcoin in the current market wiser investors will reconsider so after bitcoins unceremonious returned under 7,000 on 10th of April mark Dow it's good name former IMF economist made waves after he claimed that another bearish turn for the world's largest digital asset could be incoming highlight in the presence of strong overhead resistance for Bitcoin now revealed on Twitter that it is a textbook opportunity short Bitcoin however although nothing is certain when you're dealing with volatile assets and a turbulent global economy it's imperative to identify the signs in the industry and then of course they're gonna go over a bunch of TA stuff great but here's the hard data investors were inactive now they are becoming active after contains reports about influx and tether as Bitcoin trading USD T tripled after the market collapse in March on 7th of April was reported that trend reversal was taking shape in the market so so this is from glass know they do a lot of good great data gathering so there was a huge drop-off here it seems like bottom out and there's a big reversal coming up in the other way so some to me it's if you were able to catch that Bitcoin able to catch that falling knife as it went from you know seven thousand to six thousand five thousand on a thirty-nine hundred or maybe even forty two hundred somewhere near the bottom you made a great play now here's my question to everybody out there if you were able to do that or somewhere around there did you take profits at some point or we're just gonna write it all the way up it's always a mystery to me as far as like what people would choose to do me personally I'm not a traitor so I'm just gonna I'm just gonna hold on and for the next bull run but a lot of traders they like to let it you know go down hit and hit a certain mark and then sell had a you know when they get profits and if you haven't taken profits when are you going to that's the big question moving on it says a couple of days later the futures market came back into play as the open interest on institutional platforms such as the CME and act started rising the man but the man for Bitcoin futures contracts was on the rise and as previously reported retail exchanges were surmounting higher call buys with expectations of Bitcoin crossing 8,000 by the end of the month so there's two things here when I read this first my Retta I thought the Bitcoin futures contracts was the driver for Bitcoin Crossing 8k but when I read it again it's just the belief by some retail buyers or as they say its retail exchanges so now we're gonna get to hash rate so bitcoins hash rate has been rather fickle over the past few weeks but since when I the March the hash rate has gone back over the hundred Tara hashes per second range after concerns of our minor capitulation subsided so let's take a look at that hash rate and of course the hash rate is the computational power of all the mining rigs that are on the Bitcoin network so we can just see rise rise rise rise rise here and then March 7th came along and then boom big crash but now we see a big uptick of what is happening with Bitcoin miners I think there's a couple reasons first of all the big point having is gonna happen on May 11th or May 12th somewhere around there plus Bitcoin cash and Bitcoin SV just had their Bitcoin having couple days ago 24 hours apart of course so all those miners they don't want a mine there right now I mean not all of them but most of them because they're like look it's the same effort the same electricity I got to pay for I get half the reward I was got a Bitcoin networks it's the same type of thing now there may be a little bit of a difference if you are a minor please correct me where I'm wrong but it sounds to me like a lot of those miners are coming over the Bitcoin network to increase that hash rate because they want to get on in on it before the having happens on May 11th because then all three essentially bitcoins are going to be their rewards gonna be cut in half from twelve to twelve point five to six point two five so we will see moving on so for all those things here's my final thoughts like we just talked about I don't see how the traditional markets encrypted currency markets can last right now the way that they're going especially the sp5 and I think on Friday it had a huge I know this week was one of the Dow's top ten efforts or rallies ever which is just astounding to me I don't understand how that's working especially with the earnings report going to come on I do not expect it to behind now there's more articles like this one there's different articles about we've got one but you know bit Mex Arthur Hayes has Bitcoin likely to visit three K soon as all asset classes crash essentially and his other one about JP Morgan bank of America which bank but it's a major recession coming so if we have those types of articles I mean I can go over them but it's just like beating you over the head with the same type of information I don't want to do that so to me it makes sense that some people had a short play on March 13th but with the crota virus shutting things down I can only imagine what the earnings report is going to state on Tuesday April 14th if the numbers are bad which I expect them to be I can expect a bigger downturn than what we've already seen already now since I am the former US Treasury secretary has no clear idea of what's going to happen how can Wales go all-in meaning if we have all these different people with huge amounts of money to sitting on the sidelines how could they have gone in all on March 12th or March 13th or whatever it was that we had that huge crash I don't they all did I think they had a short play they go look there's a falling knife I'm gonna pick up a lot of cheap things whether that be in the cryptocurrency market or traditional market doesn't matter but I think the smart money is sitting on the sidelines waiting for either the earnings report or the other shoe to drop I mean people like Warren Buffett he's this was an article written when was this March 14th and it's talking about he's ready on the sidelines with 128 million in spare cash to buy stocks and he hasn't moved yet and whether you believe that he's one of the greatest investors or if he's lost his stuff because of his age you have to understand he probably knows what's going on a little bit better than most of us he probably runs in different circles than we do I don't hang around billionaires maybe he knows something that we don't and maybe just maybe there is something big about to happen in the next coming weeks and months but only time will tell all right that's it so I want to say thanks again for sticking with me and that's it for today's video if you like these videos gonna be too much gonna pop up when your left and right and that's it thanks for watching see you on the next one

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