Bitcoin Bottom Coming (2 Week Warning)! HISTORIC BUYING OPPORTUNITY!

Bitcoin Bottom Coming (2 Week Warning)! HISTORIC BUYING OPPORTUNITY!

Anthony Scaramucci talks Bitcoin & crypto volatility & future opportunity

‘Think about this for a second. Amazon’s ipo could be $151,997. A $10,000 investment is now worth $21 million, $21 million, or $140,000. However, you would have had to subject yourself to eight periods of time where it dropped at least 50%, one period of time where it went down by 85, and the barons’ newspaper had a front page article on Amazon.bomb. The age of this internet retailer is over, but the cat that made Amazon, Jeff Bezos, shot himself into space in his own rocket. So what do you guys want to do? Do you want to be patient and look at something like Bitcoin and see the exponential growth of wallets and the scale and understand the value of the network effect of those properties associated with it, and stay patient and watch Bitcoin eclipse gold in terms of its market capitalization? Or do you want to trade it and get juked out of it at the wrong moment and do what non-psychologically minded investors? Do they sell low and they buy high? And as to me, I got to get in the face, I gotta get in, I have to grab the face mask of my clients and pull them close to me like a good coach and say stop it. Get your emotions out of this thing. This is a revolutionary asset. This is a digital waterfront property. This is digital energy that is going to transform the world, and over the block chain, we are going to de-layer our society. We’re going to take third-party intermediaries out of the society. There’ll be a cost saving. It’ll be ecologically friendly. There’ll be quantum benefits associated with this. You can own a piece of this property today at a very attractive price. This is you and me going to Miami Beach in 1921 and buying oceanfront property’- Anthony Scaramucci.

Do you agree with this? Yes, Bitcoin and cryptocurrency are volatile, obviously, just like some of the biggest blue chips of the past, like Amazon. So don’t let this volatility scare you away. Don’t miss the forest for the trees. Understand where the world is trending. Do you think the world is trending more digital? Do you think there’s a need for an asset with a hard monetary policy?

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Fed Raises Rates By 75 Basis Points

I mean, particularly, we need Bitcoin and crypto with the macro backdrop we have today when the strongest fiat currency’s monetary policy is changed on the regular at their whim seemingly, sometimes not even truly fixing the problem. The Fed raises interest rates by 75 basis points.

The Fed is committed to fighting inflation, even at the risk of tipping the economy into a recession. What you need to know is that the Fed raised rates by 75 basis points today, the biggest hike since 1994. The decision comes as inflation in the United States officially hits a 40-year high. The market reacted negatively to the announcement, with Bitcoin and Ethereum losing 8% and 13% of their value on the day.

Bitcoin’s price has completely detached from underlying value & adoption of network

Bitcoin was made for instances like this, so why is it still hovering just above $20,000? Perhaps it’s because Bitcoin’s price has completely detached from the underlying value and adoption of the network, as there is fear in the market because, think about it, long-term investors obsess over value and durability. So is Bitcoin valuable? Is it durable? 

Bitcoin’s hash rate is at an all-time high. Lightning network capacity is also at an all-time high. The Bitcoin addresses with 0.01 Bitcoin, 0.1 Bitcoin, and 1 Bitcoin are at all-time highs. Yet sentiment in the market is creating fear, uncertainty, and doubt. But people need to realize there’s only one monetary policy globally that has not changed over the last two years. Only one monetary policy is actually independent and predictable. So, short-term observers focus on price, but long-term capital worries about durability. And if you’re worried about durability, I think after the fear in the market after the shakeout, after Bitcoin starts to consolidate a little bit, I think people are going to realize that Bitcoin is still here and, like Scaramucci himself said, ‘This is you and me going to Miami Beach in 1921 and buying oceanfront property’. 

INTENSE relief rally is coming (bitcoin & altcoins)!

At the very least, an intense relief rally is coming. Bitcoin’s monthly RSI is at its lowest level it’s ever been. Altcoins are at their lowest weekly RSI levels ever, even lower than in the 2018 bear market. They have now entered the oversold area.

 Bitcoin bottom coming soon?

So a relief rally is coming. Does that mean that Bitcoin’s bear market is soon to be over? Perhaps the bottom is soon to be in this month, next month pretty soon, but probably this whole year. Let’s be realistic. We’ll just be in chop solidation below all-time highs.

But understand that Bitcoin is now sitting at the 200-week moving average for the first time. Since March 2020, Bitcoin’s been going down a lot. Historically, this is much closer to the bottom, if not the bottom, than it is to the top, and buying when it’s at this line or particularly below this line, even if it’s just below this line for a week or two, historically has been a really smart move.

Celsius & Three Arrow Capital adding INTENSE sell pressure to market (special circumstance)

 And understand the unique set of circumstances that have marked Bitcoin’s crash and bottom over the last few weeks to a month. Right, it started with Terra Luna, adding a sense of fear and uncertainty in the market, not to mention an intense level of cell pressure for Bitcoin and crypto. Combine that with what we’re seeing with Celsius having to cover their margin call, adding intense cell pressure. Not to mention, one of the most respected and well-known hedge funds in the crypto currency space, Three Arrow Capital, the same thing imploded, facing possible insolvency after unforeseen liquidations. What we’ve been seeing over the past couple weeks is extremely special and unique.

This is what’s putting massive cell pressure on the market. Celsius&3AC were massive Bitcoin whales. Do Kwon was a massive Bitcoin holder and Terra depleting the Luna foundation’s Bitcoin reserves took Bitcoin price down. Celsius +3AC liquidations in the same night by Tether and FTX was like 2 Terra Luna’s in the same night. Massive pressure on Bitcoin and we held 20k.

 Ethereum. It’s becoming increasingly clear that (1) the ETH move from $1,800 to $1,000 was the result of a large forced seller and (2) the majority of forced selling is behind us. Cautiously optimistic that we have found a local bottom.

Ethereum (& ETH L2) fundamentals very strong & TRENDING UP!

Not to mention, if you take a look at Ethereum and you exclude the price, Ethereum has strong fundamentals as well. The number of addresses holding 10+ ETH has just hit an ATH of 296,832.

 Scaling EoY. ETH deposits on Arbitron are at all-time highs. Arbitrum and optimism are 24% of Ethereum transactions with a share increasing. Safe bet that will be over 50% by EoY. If really successful (+zkSync & Starknet are added), one can easily imagine quickly becoming >90% as well.

Ethereum is scaling. And I understand that this is only counts roll-up blocks, which hold even more transactions. So Ethereum is scaling.

Fidelity CEO (VIDEO CLIP) Fidelity is DOUBLING DOWN on Crypto

 So it makes sense to me. Why Fidelity CEO says they’re doubling down on crypto currency right now. Well, everybody else is a bearish! Smart woman right there,

‘If you believe that the fundamentals of a long-term case are really strong when everybody else is dipping, that’s the time to double down and just dive extra hard into it, and that’s usually the right move. So I’m excited about what’s going on. I mean, I feel awful about the value. That’s been lost, but I also believe that the industry has, in crypto, that there’s a lot of a lot to come and it’s really exciting’.

Look, I know things are tough right now. We’ll make it through this. I promise you that crypto is here to stay. If you have money in Celsius, you can file a small claims case if it’s between $10,000- $25,000. I’m sure there are even more things you can do. 

[This article is a transcription of a video made by Altcoin Daily]

Original video: https://youtu.be/DsuA31igt28]