BANKS are falling BTC holds!!!

16.03.2023

Dear traders,

Bitcoin show why is made to be a internet magic money not monopoly(banks) to just print more money when they need it.

Jake
TOP Trader

BTC:

BTC consolidating under 25.200$ what is great resistance line. Need bigger push and hold on daily over 25.200$. Good long re enter is at 23.200-23.500$ if we drop back to it.

ETH:

ETH make big push into resistance and need to hold daily above 1720$ to continue grow to 2000$. Still show no strength for next leg up.

XRP:

XRP still low on strength and did not hold above 0.38$ and now looking like stable coin with trade in range. Show worst performance of all altcoins at moment.

LINK:

LINK holds above support of 6.45$ and show no strength for next leg up. Only after daily close above 7$ we will see next bull up.

SOL:

SOL show weakness and drop under 20$ and need to close above for next leg up. There is no buy pressure at moment.

DXY:

DXY makes big push into 104.6 and now aiming for 105 what could send him more up and market down.

Crypto/stock daily news:

IS BITCOIN STILL UNDERVALUED?

Bitcoin is climbing the ranks of the world’s most valuable assets by market cap. This is a list that includes public companies, precious metals, cryptocurrencies, ETFs, etc.

BTC’s rank… #12. Just like that, magic internet money is worth more than VISA and Facebook (yes, we still call it FB around here).

Check it out…

The crazy part? Bitcoin is still undervalued. Hear me out…

Sure, Bitcoin isn’t building self-driving cars, smartphones, or e-commerce marketplaces, and it will be hard to overtake valuable companies that are. (i.e. Tesla, Apple, and Amazon)
But you know what else doesn’t do any of that stuff? Gold. And it’s still #1, by far. It’s been around for centuries. People trust it and look to it as a store of value.
But there are cons – gold weighs a lot, it’s hard to transport, and I can’t buy my adult happy meal from McD’s with it. (big problem)
Bitcoin = digital gold. It’s light, portable, and easy to transact. You can easily send $10M in BTC from the U.S. → Australia in minutes. (To do the same thing with gold, you’ll need way more time & the contestants from Physical:100 to move it all.)
So, what’s Bitcoin’s true value? Here’s a little formula we made…
(The number of people on earth who believe Bitcoin is valuable) x (the intensity of that belief)
The number of people who believe in it has soared. Hedge funds hold it. Countries hold it. Companies hold it. Hell, even my grandpa owns “1 Bitcorn”
The intensity of that belief is growing too. Bitcoiners love Bitcoin more than Kanye loves Kanye.
So yeah – Bitcoin is still pretty undervalued. It’s just a matter of whether it can survive long enough to become a lasting store of value like gold.
Only time will tell. Until then, it might just be the world’s most expensive game of hot potato…

But one thing we know about Bitcoin is: it can survive anything. China bans it every year. The largest Bitcoin exchange (Mt. Gox) was hacked, and the price of BTC has crashed 60%+ multiple times. It’s still alive & well.

Bitcoin is the honey badger of crypto.