We have some big crypto news to talk about in the market today. We’re going to be talking about Elon Musk only talking about crypto Twitter. We’ll be talking about the CZ of Binance and some other important things. You need to be aware of the crypto market today and also what we’re going to do is take a look at the bitcoin price and have a look at the prices of other cryptos and where they can potentially go in the future.
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Let’s get into today’s big update and I want to say the crypto market. Let’s still frosty and we’ll talk about the crypto prices at the end. But, I do think it’s a good habit to be checking in on the crypto market when it’s frosty. So, I go back to my point when the big crypt when the crypto prices were way down like in three thousand dollar bitcoin four thousand dollar bitcoin five thousand dollar bitcoin. A lot of people were not in the market and those people who were in the market thought and stayed the course during the frosty periods. They ended up getting very well rewarded when the times reversed. So, even though there’s a bit of frost I think sticking it out, in the long run, is a good strategy. Let’s talk about some big crypto news. So, have a look at this crypto’s biggest critic. Peter Schiff now says he would accept bitcoin for his bank so you may or may not know Peter Schiff but he’s one of the biggest critics of cryptocurrency bitcoin. He’s a big supporter of gold I don’t mind gold personally myself. But I think bitcoin does have some good advantages over gold have a look at this tweet down the bottom. They said right here are you willing to sell the bank for bitcoin.
I would sell the bank for anything if regulators let me sell it. My main goal is protecting customers and you have to remember cryptocurrencies like bitcoin like other types of cryptos. They’re very hard for centralized authorities just to snap up. So, if you have connection to the internet. You’re on a computer you can get your hands on some cryptocurrency fiat banks that the one that Peter Schiff ran very easy for the regulators to shut down even if it is political reasons right there was cryptocurrency it’s more about the freedom that actually works. It’s hard to shut down cryptocurrency. But, that is a good thing potentially we might have Peter Schiff as a crypto holder as well and guys have a look at this. How is binance doing now bitcoin price is twenty thousand dollars when binance started bitcoin price was two thousand dollars. So, again cryptocurrency is a long-term journey who was in the market when BNB coin was trading at like one dollar two dollars using binance.com. I didn’t snap any B B Coin up at one dollar two dollars because at that time. It was only a trading discount coin. But again if you’re in the crypto market for the long term you continue to build you continue to research. That is a really good strategy in my opinion and CZ of Binance. He just continued to build during that period from two thousand dollars to twenty thousand dollars, he’s got massively rewarded.
You just keep looking out for opportunities in the crypto space. But some good inspiration from seeds out of Binance today and guys we also have this really big update from Elon Musk. We know one of the big things that were going to happen with Twitter. It tied into crypto as well as Elon Musk was going to buy up Twitter. That was his intention. It was like a multi-billion dollar deal. It was something like a 42 billion 44 billion deal and Elon Musk was going to buy up Twitter. But, what’s happened is he’s kind of pulled out of that deal at the moment there is a bit of a potential court case happening with Elon Musk and Twitter and one of the big things that made Elon Musk pull out of Twitter. You can see it in this meme that we’ll just pull up soon is the bots. He says right here. They said I couldn’t buy twitter then they wouldn’t disclose bot info now that they want to force me to buy Twitter in court. Now they have to disclose bot info in court, so one of the big things about YouTube or Twitter is that sometimes there may be bots running in the background. That is what Elon Musk believes on Twitter, I’m sure there are lots of bots. You even know in the comments section of YouTube. There are malicious bots trying to trick you into scams and things like that. I reckon there are bots running on Twitter as well and it’s interesting to see whether. This deal will go through or not. I do think Twitter as a platform, if it can get more integration for cryptocurrency so it can accept more cryptos and integrate NFTs better. I think that’s going to be better for cryptocurrency.
If Elon Musk ends up buying Twitter and does do a lot of changes for the better of crypto. I think that’s going to be good for cryptocurrency but if he doesn’t end up buying it. I don’t think that’s a massive issue either the other thing Elon Musk can do and I did say this on Twitter is he has lots of money he just needs to go build his own platform the only thing that really gives Twitter value to the people who that use Twitter surfer on Twitter shout out to you guys but I would move to a different platform as well. I just use Twitter for fun, I don’t take Twitter too seriously and it’s all about just having fun putting out tweets to the community.
We’ll keep an eye out to see what happens with this twitter deal and the impact on cryptocurrency as well and also in the background we do have a lot of political tensions going, so you got us urging japan to shut down crypto firms with Russian links. There’s a lot of political tension at the moment and on top of that we also have some positive news and this one is Ethereum whale Gimli buying up millions of Shibu. So, those community coins that are building under metaverse like Ship. We know Ship has a lot of ecosystem development whales are buying millions of dollars worth of Shiba Inu and that is good to see, so this whale brought up 2.7 million dollars worth of ship which is crazy and that is exciting to see. Let’s talk about the crypto prices what are the crypto prices doing where are they up to why they’re sitting at the levels they’re sitting and if we do study the bitcoin chart. So, remember the bitcoin chart tells us what’s going to happen with our other old coins. If you’re holding other altcoins in your portfolio Shiba, XRP, Ethereum whatever it may be bitcoin is one of the leading factors that impact the other crypto prices.
I’ve got the daily chart behind us but what we can see right now is that bitcoin appears to be kind of sitting comfy at the 20k level. So, the 20k level what are some macro drivers that I think will push it out a lot of other channels. They rely purely on technical analysis. I don’t think that is really providing a full picture to listeners out there. I’m a believer that macro trends and big political events have an impact on cryptocurrency prices as well. So, what are some things I’m thinking that are going to push up the bitcoin price? I think it’s going to come down to some macroeconomic factors. We need the global economy to come back online so the global economy is out there and that needs to get some positive territory the whole Russia-Ukraine conflict. It would be good to get a peaceful resolution to what’s happening there. The supply chains can get unbottled things can go back to normal and also the situation with the health situation around the world can get under wraps as well I am a believer that a strong economy does link to strong crypto prices.
But, in addition to that cryptocurrency can also help out those countries that are wrapped up in poor situations in bad situations like you have in Sri Lanka right now so if you hold crypto during sometimes crises. It can help you out in countries that have crazy amounts of inflation but I think they are some factors that need to get resolved for the crypto prices to go up. But, what we are seeing is a kind of consolidation around the 20 000 level and if we do bring up the crypto prices today what are we looking at. So, it’s mostly a red day in the market. But again I’m not too worried about this I mean it for the long run and if we take a look at the other crypto prices today. So, again if bitcoin goes down 3.7 in 24 hours the rest of the crypto market will go down but again not too worried about crypto for the long run. I believe the crypto prices will go it will end up going higher in the long run anyway, so potentially some nice discounts on sale.
This article is a transcription of a video made by Crypto ZEUS
Original video: https://youtu.be/fzhrTfV6gqg
