Read MoreHello and welcome to that martini guy the best source for cryptocurrency news and price analysis on the internet and in today's video the price of bitcoin crashed about five percent over the course of the past 24 hours this has triggered a humongous sell-off in the altcoin market.
And this is reflected across the board pretty much every single coin is down today bar a select few that are up astronomical amounts for example phantom pumped 50 today so in today's video we're going to be looking at the altcoin market we're going to be looking at the cryptocurrency news for the day because d5 volumes.
Reached 1.5 billion dollars today the most they ever ever reached and this is becoming a very big thing in a very short period of time as well as the price of gold crashing and bit hump in south korea allegedly being raided kicking off this whole dump so if that is something that interests you slap a.
Like on today's video make sure you are subscribed to one of the fastest growing cryptocurrency channels in the world at this moment in time and without further ado like all 1200 likes let's get it let's please honestly please get it like like today's video i'd really really appreciate that.
And let's crack on oh so starting off today's video this is the one hour bitcoin chart and as you can see from here well it's been going down just a little bit however it is always good to zoom out and get a little bit of perspective on the situation.
And fully understand what is going on and that is exactly what we're going to do later on in today's video when i analyze bitcoin's price and try and give you an accurate prediction on where i think bitcoin is going to go so far i've had a lot of luck predicting bitcoin's pricing we hope to continue that forward because.
Ultimately that is how i make my money the bulk of my money does come from trading bitcoin and trading all coins and again we're going to look at altcoin slightly later on in today's video we're starting off today's video with the d5 flipping coming to exchanges as uni swap topples coinbase.
In trading volume now this is huge dex volume over the course of the past 24 hours hit 1.5 billion dollars earlier today slumping to 1.4 billion dollars if you can call that a slump really it's still a massive massive increase considering only four weeks ago dex volume was less.
Than 100 million dollars this is a 14 times gain over the course of 30 days that is a humongous amount of money that has flooded into the space it's made a bunch of people very rich but also at the same time it is starting to look like a bubble now i've warned you about bubble coins in the past and yearn.
Finance i believe somewhat is over hyped and people don't fully understand what the project is people going on about oh you're in finance it's beating bitcoin's price it's the most expensive coin you can possibly buy you should definitely buy some for this very no that is not why you should be buying.
Cryptocurrencies you buy cryptocurrencies a because they're useful and b because you understand the project and you like the project and you think that that project could possibly succeed and be adopted by the main stream that's where i make the bulk of my money these days is investing in projects that i feel are.
Under valued i still feel like yearn finance having only been around about three weeks is completely overvalued and almost a 900 million dollar market cap with a singular coin price of twenty eight thousand five hundred dollars per coin um finance hit thirty eight thousand dollars per.
Coin just two days ago and this is what i'm talking about when it comes to the d5 volatility at the moment just be careful about what you're buying i've had countless successes in the altcoin space buying what i know will succeed i've never found any success.
Just trying to hop onto the back of pumps it doesn't interest me it's not something that i'll ever get into i'm here for the long term ultimately and i think that a lot of this defy stuff is gonna bubble up and explode so just be careful when it comes to that next up in today's news police reportedly raid headquarters of bithum south korea's.
Largest exchange and this is what allegedly started to trigger the bitcoin collapse today however i don't think that is the case i don't think this news he may have been the trigger but he certainly isn't the main influencer in the price of bitcoin.
Falling because bitcoin resumed his correlation with gold today because gold's price today has dropped almost two percent that is huge for gold bitcoin is essentially the value of about one percent of gold's market cap so gold off the top of its market cop has lost two times the value.
Of the entire bitcoin space and bitcoin is very heavily correlated with gold at the moment and when gold's price goes down bitcoins price goes down it's as simple as that that is why i don't think that because police allegedly raided bit homes offices of which i want to talk about in just a second they didn't from my contacts of bit hump.
They did not get raided and they don't know what this story is about they believe it to be fud i believe them when i speak to them i've got no reason to doubt the people that i know that work for because if they say they've not been raided and no police have turned up then.
The likelihood is that they've probably not been raided and the police probably haven't turned up and this story at the end of the day is just false news coming out of korea and no one's bothered to follow it up or check and next up in today's news i wanted to talk about warren buffett again for a second because he's removed all.
Of his funds from the usa and bought the five biggest companies in japan now if that is not a sign of things to come i don't know what is this man is a very experienced investor and i take what he does and says very seriously apart from the things that he says about bitcoin because he's.
Clearly doesn't quite understand what bitcoin is and i'm sure he'll come around to it eventually ultimately he is considering bitcoin as a stable store of value for some of his assets in the future he has come out and he said this that he's open to learning more about the asset and he's not got quite.
The same closed mindset that he had just 12 months ago and finally in today's news at 2 pre i think that's how you say it to swiss insurance company as out of bitcoin and ethereum to its payment methods and this is a big big story for bitcoin because bitcoin is hitting.
The mainstream buy the dip not financial advice at all but i am buying this dip i've currently got a long position open on by bit of which i expect to close in humongous amounts of profit because i bought the dip here i expect this to pay off big time and if you're interested in trading as well then please do check out buy but you'll.
Find a link for that in the description and they'll also find a link for a video tutorial of how to use by bit again in the description and now it's time to talk about the old coin market before analyzing the price of all the different assets at the end of today's video and starting out by having a quick scroll through and.
Seeing exactly what has been going on because over the past hour i've waited all day to film this video because i knew that there was going to be a bounce at some point i was just kind of waiting for that bounce and that bounces obviously occurring here looking at the amount of one-hour charts that are green here and obviously the 24.
Hours pretty much everything is double digits and red so now what i'm going to do is going to run through a bunch of different cryptocurrencies give you all my overall analysis on each one as we go through and tell you what i expect he's going to come out of there and these are the coins that i expect are going to have some big gains.
Over the course of the next few days and some of them are defined coins other ones aren't defied coins i'm going to get that out of the way and the first coin we're going to start off today with is kasha kasha up 28 today despite the market conditions and i'm very very bullish on cashier because that news.
Regarding their banking license if their banking license is approved and that news is expected to come within the next month or so if they are approved then this is going to be 100 million market cap without a shadow of a doubt not paid by these guys i bought their tokens out of my own.
Pocket i hold a quite a substantial amount of tokens at this point due to talking appreciation and i'm very bullish overall on the project then we've got plutus down eight percent today in bitcoin value 13 today overall ten dollars has been a very strong buying range especially for scalping pluto's in the past.
If you're buying at ten dollars generally it comes up to around 14 retraces if you look at the past months chart for plutas you'll see it just kind of goes up and down within this range and eventually he's going to have a break to the upside and i'd like to see this at 40 within the course of the next.
Two months then we've got tail warby up 10 today in bitcoin value 3 overall i think that this is going to let rip very soon neuer down six percent today but he's had some massive pumps up recently so it doesn't really surprise me all that much overall i'm very bullish on the neura project orchid down again.
Today seven percent overall and zero point four two percent in terms of bitcoin value currently the price lays at 41 cents having had that pump up to 80 cents it's now 50 percent less than what the top of that pump was just a couple weeks ago and i bought more orchid today because i.
Think it is now a good time to be buying that then you got one chain down four percent today i've bought some more of that because i've got a sneaky suspicion that some people are being paid to promote it and not declaring that and i figured that they're probably gonna have some impact on the market me.
Personally i wish they'd pay me i've never heard from these guys i just bought the token way before anyone was getting paid to promote this and phantom is the coin i really wanted to talk about today up 40 it was up 50 earlier today currently around 100 million dollar market cap around 5 cents per token.
We bought this on the channel at 2 cents per token currently we're in 250 worth of profit that is nice to see and i like it when things go very very well and i own now some substantial amounts of phantom's coin not taking profits yet but i do intend to do so fairly soon because this coin does have drop-offs.
And then it continues rallying to the upside the interesting question is because andre crunch is very heavily involved with the phantom project he's also very heavily involved with the yfi project if wi-fi is going down in price and our phantom is going up in price then there seems to be a little bit of correlation.
There so be interesting to see what exactly that correlation is or if it's just me being a bit of a and talking crap ultimately leave your thoughts on that in the comment section below be interested to know some technical debate on that front also if you've got any questions so far please do leave them in the comment.
Section and i'll be happy to answer them i'm going to work my way through them i always read all of the comments anyway so please do make sure you always comment and like the videos don't forget like go 1200 likes let's get it then moving on we've got uterus uterus barely moving recently.
Stuck at an 80 million dollar market cap basically stuck at 18 cents if you look at the past month movement in terms of uterus we had the pump up and since then it's kind of been just on a very neutral path i do expect this neutral path to change over the course of the next few days.
Simply because it's not changed yet and i think i'm very sure at this point the uterus is gonna have a break to the upside fairly soon and that could be triggered by an altcoin pump and recovery over the course of the next 24 hours because of course pretty much everything is probably gonna pump over the course.
Of the next 24 hours simply because we've had such a ferocious dump today and all coins generally haven't lost that much satoshi value and if they've not been losing satoshi value then i'd expect them to be gaining satoshi value tomorrow and then i'm finally going to run through the last couple of coins you've got swiss borg.
Matic neo tron cardano ample fourth and that's about it for today now amber fourth is the final one that i find particularly interesting sorry i've just got a yawn that really wants to come out but i'm saying no no to yawns it's currently 1.40 in price 300 million market cap this is a massive massive dump it's surprising to see.
Them this very badly uh i'm waiting to buy this i'll buy it back when it goes up to 60 cents i do still think that it's probably slightly overvalued at 300 million market cap considering pretty much everybody that buys ample does not understand exactly what ample is i made a video about this.
Many moons ago i don't know if it's still up or not it might have got taken down when youtube deleted everybody's videos at christmas time either way ample is a very very interesting project and it's something that i mean it interests me i don't know how realistic it is for the real world and therefore i don't hold.
Very much ample and i don't intend on increasing my bags on this dump simply because i think that it probably gonna go lower because people panic sell all the time so now to talk about bitcoin's price bitcoin's price currently being 11 360 dollars on buy bit on a bit of phoenix it's currently around the same.
Price actually 11 366 there is basically no premium and the spreads are very tight and that is pretty bullish to be honest looking at the one-hour chart obviously all of these these are kind of screaming do not short this do not short this everything is so very like do not short this this is dude i mean i.
Don't know if i said it enough times do not short this this does not seem like a short position to be taking at all now i am in a long position so of course i'm going to say something like that and i've seen a bunch of people going oh it's obviously a hardened shoulder no.
It's not it's this is not head and shoulders formation if it were a head and shoulders formation you'd have your shoulder your head your shoulder and then your breakdown but because we've got these two corners here it no longer is a head and shoulders formation in fact it remains a pennant.
Formation so looking exactly what is going on with this chart at the moment this is the four-hour chat but i need to switch over to the daily chat to give you more an idea exactly where bitcoin is because it came in to break back to the upside here on the monkey on the daily chart and he got very heavily rejected.
About 12 000 and this is what i expected to see i didn't expect to break through twelve thousand dollars on the next attempt it didn't seem at all realistic considering how much trouble we've had with the twelve thousand dollar level in the pack ultimately bitcoin will break that.
Twelve thousand dollars i've got zero doubt about that and because ethereum hasn't crapped the bed today in terms of its us dollar value you could say well yeah it has but actually because it pumped up to almost five hundred dollars the other day and it's only dumped 14 over the course.
Of the past 24 hours i'm not really that concerned about the market overall i don't think the market looks all that bad and i think that people are really overreacting and all these emergency video crap just ignore it there's no there's no emergency in this space this is buying time.
Don't let anybody fudd you out of making a very good decision i find it very very annoying when i see all these people that don't trade and they're making videos about bitcoin's price going oh it's gonna go down he's gonna lose this is my price tag you don't trade if you don't trade how can i take.
Anything that you say seriously i find it very very annoying anyway back to the bitcoin price analysis for the day and looking at this on a smaller time frame on the four hour chart you can say well we've just broken back to the inside of this trading formation and we have.
There's nothing that particularly concerning about this chart and everything is signaling that it's going to have a quick turnaround the bitcoins price is going to be back up around 11 600 fairly soon ultimately this dump looks very odd like somebody's just sold a lot.
Of bitcoin and there wasn't any like real reasoning to it just looks like somebody taking profits to me because it goes against all logic when i say it goes against our logic i mean it goes against all logic to break back within this pennant formation and then kind of stop here that's the bit that's really confusing.
Me stopping at 11 180 does not make sense so to summarize the bitcoin analysis for the day i think that bitcoin looks bullish i'm expecting a pump back up to 11 hundred dollars and i think that everybody coming out and flooding bitcoin at the moment is a bit moronic.
In their logic moving over to ethereum for the day ethereum's bitcoin value is is looking a little bit more topsy-turvy than bitcoin is simply because ethereum network is having quite a lot of foot at the moment because network fees are so high it could well be in for a retracement of up to 13 in terms of its.
Bitcoin value when you look at ethereum on the four-hour chart ethereum is very much looking like we are heading in for this 13 retracement similar to what we've had before ultimately this is not a sign that the bear market has begun this is a sign that the bull market has just got started and buying the dip.
Is possibly one of the smartest things to be doing right now it's exactly what i'm doing i'm not a financial advisor by any means i just i'm quite passionate about bitcoin about cryptocurrency if you hadn't have guessed and i just think that that's the right thing to be doing buying the dip has historically worked very well for me.
And i think on this occasion it's a correct decision quickly looking at the traditional markets i wanted to explain that gold did go down today two percent and i've already explained this before and so long as gold does not break below one thousand nine hundred and twenty six.
Dollars bitcoin has got nothing to worry about the second the gold breaks below one thousand nine hundred and twenty six dollars then bitcoin has got a lot to worry about but for now it is okay it's got a few more days left in it so to summarize today's video bitcoin i think looks good.
We could be in for a test of 11 100 but as long as we remain above that level bitcoin will be absolutely fine and as long as gold remains above 1 926 will be absolutely fine and it's probably a good time to be buying the dip although i'm not a financial advisor then you've got ethereum ethereum's.
Looking kind of like a little bit worse than bitcoin at the moment the altcoin market is looking kind of like really good in terms of value for money at the moment and the d5 bubble continues to inflate and on that note if you are interested in trading traditional markets check out primexpt you'll find a link.
For that in the description below if you're interested in trading bitcoin check out buybit you'll find a link for that again in the description below prime xpt you get 50 deposit bonus if you use code tmg and you get 90 for free on the buy bit link in the description and if you're interested in.
Trading all coins and you don't have an altcoin account or you already have an old coin account for trading all coins with check out my binance link in the description below you get ten dollars for signing up on that link doesn't already matter if you've got a finance account but if you.
Use that finance account if you just switch over to that link in the description then you get ten dollars for free for just depositing more than one hundred dollars worth of cryptocurrency that's it so on that note follow me on twitter i'm martinique yt i'd love to see you back here tomorrow make sure you are subscribed like today's video and.
I'll see you all tomorrow i i really hope i do see you all tomorrow anyway