Bitcoin Bull Run - 18 Months of [HUGE] Price Gains

Today in crypto, do we have another 570 days left to this bull run? This could be the time when the millionaires are made, the time to accumulate Bitcoin is now. There is an XRP Ethereum bridge underway. Kiber Network is out there just crushing it. Russia comes down hard on crypto and US crypto users can expect further harassment from your good friends over at the IRS. Crypto

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of $50 free when purchasing a Ruby tier card or higher by using the link down below in the description. So let's talk about Bitcoin. First, I want to show you this chart of Bitcoin addresses. In particular, this chart shows Bitcoin addresses with non-zero balances versus the price of Bitcoin. You can see on this chart that we had a big drop in the number of addresses holding

Bitcoin posts to 2017 bull madness with lots of people selling their Bitcoin. But what is super fascinating has been the slow and steady reversal of this trend in an upwards direction since the start of 2019. Now there are nearly 29 million Bitcoin addresses off zero, which is absolutely amazing. And there are nearly 800,000 Bitcoin addresses with one Bitcoin or more. Now what is extra compelling to

me about all this data is that now we have more addresses off zero than at the height of the 2017 madness. We've just crossed that number, but it's still very awesome. And this, you have to remember, is at a time when the price is 50% less than when it was back in 2017. Also, this chart shows a correlation between price and address activity that as the

creation of new addresses rise. And as holders, we have to be able to refuse to sell their crypto that the price of Bitcoin more or less follows suit in an upward direction. Definitely awesome to see so much Bitcoin being distributed across so many addresses. Just remember, stack, sat and chill. We are just getting geared up for the next super crazy time. Also, another curious bit of

data for you is that the average Bitcoin price is higher in 2020. Then it has ever been before. And okay, sure look, we're only two months into 2020. I guess anything could happen. But I think that this year is shaping up to be a very, very exciting one for Bitcoin, the entire crypto market. And that this high average price trend is going to continue and expand

as the year continues. In fact, you need to check out this really cool chart from a guy named crypto Kia. By the way, that guy must be a Kiwi. The Kia in case you don't have a Kiwi, you don't know is a cheeky Alpine parrot that lives in the mountains of the South Island of New Zealand. Anyway, I digress. He shared this cool model which forecast

that we likely have 570 more days of bull run before the markets run out of steam again. So that's 570 days until we see the peak in price. And that we are essentially right now in the middle of a Bitcoin bull run that started back in February of last year. It will go on until about September, 2021, at least according to his predictions. Now, of course,

there will be a bear market again at some point in future. So if you miss that peak, then you're going to have to sit around waiting for the bottom again or basically it used to shorting the market. So be ready. It's coming 18 months according to this prediction. Now onto our big news story of the day. And the big one is that the Simpsons talked about

cryptocurrency in their recent episodes, spending nearly two minutes discussing how the technology works. This is cool. This is fun. I like it. And I think it really just adds on to the mountain of mainstream crypto coverage. That we've been seeing over the last year or so, of course, building up over time. Obviously. But the Simpsons have, you know, they've all sacked into something like a predictive

programming for society over time to go back and watch some of these things play out. But crypto is something that makes it more difficult to see. Helps to foster crypto ecosystem projects. It's now challenging developers to interconnect the XRP ledger with the Ethereum network. Awesome stuff. Now this is on the back of news. We had just a few weeks ago about a Bitcoin to Ethereum bridge,

which was announced by RootsDoc. Now XRP is working on a bridge as well. That is awesome. Now the key objective of the XRP Ethereum bridge will be to create a layer for complex smart contracts to, of course, the gross care for the growing decentralized finance movement. Already we see, for example, Kava working on bringing decentralized finance to XRP. But the Ethereum XRP bridge will be a

great step in the right direction. Now this is really going to kick open the door to DeFi innovation across the entire crypto ecosystem, but particularly using XRP. And of course, we must underline here that they are building a bridge to Ethereum, not any other blockchain. But to the Ethereum blockchain, the beating heart of the decentralized finance movement and the absolute crypto Leviathan that's just getting all

the interest and all the innovation from around the crypto space focused on it. Now in addition to all of that, XRP has also pledged their support for the Ethereum initiative to help get one million developers building on top of Ethereum. So it's nice to see them supporting the overall Ethereum ecosystem as well. Now in other Ethereum news, Kyber Network has just crossed the 100 million US

dollars in on-chain trading volume. Nice. And that's just for the month of February, by the way. And you may notice, the month of February, it's not yet over. So very cool to see Kyber Network really making a big splash in the decentralized exchanging scene. I've been a big fan of Kyber for a very long time. It's a fantastic decentralized exchange. You should definitely check it out

if you have never used it as one of the easiest and quickest ways to swap Ethereum based assets. Also, Kyber in case you didn't know has a fee burn model, which really only increases the price, velocity, the token as the network continues to grow in relevance. The Coinbase listing for Kyber, which is just happening at the moment, has also proven that the Coinbase pump effect is

still a thing. Okay, on to our next story. Russia's Federal Security Service, or the FSB, has agreed with the Russian Central Bank, that cryptocurrencies should not be allowed as a means of payment on the territory of Russia. Now, to be clear, the Bank of Russia actually came out late last year, saying basically the same thing. Now, the Bank of Russia has the FSB backing them up,

which is quite substantial because it is one of the most influential parts of the Russian government. So keep in mind though, this is just a matter of time. So, exchanges, for example, they're still going to be allowed to operate in Russia. Mines can still mine Bitcoin and Russia. People can still own cryptocurrencies in Russia. It just can't be used for payments on Russian territory, which you

will notice is very specific wording, which says to me that stories like this one of a Russian arms manufacturer using Bitcoin for the settlement of accounts with international clients is something that is likely to continue. You just won't see Bitcoin or any other cryptocurrency being allowed to be used for payments in cafes or in shops or card dealers or to pay your rent or to pay

your electric bill or any other kind of stuff like that. So really, I shut down of the currency aspect of cryptocurrency, at least in the eyes of the Russian state store value, all good speculation, all good. But anyway, that's the reality is that the Russian state, they cannot actually stop people from exchanging crypto for goods or services. They can just make it a lot harder for

businesses to publicly do it. The rubble must rule the land. Well, this is not yet been passed into law. I think we can expect the crypto bill that's been in and out of discussions and parlance to actually pass here in the next few months. That's the rumor anyway we've heard that before. So I guess what I'm going to say is that the rubble is not a

real thing. service of the United States has invited a number of crypto startups. To a summit on March 3rd to discuss its existing approach to tax and cryptocurrency as well as enforcement efforts. Watch out guys! Okay, no seriously though, that is not my actual IRS story for today. No, instead it is this. US revenue agency looking to crack down on crypto tax evasion. So if you

are in the US, make damn sure that you are taking care of your tax obligations. But the IRS is definitely coming after crypto holders. While the agency has left a lot of gray areas in the tax code related to cryptocurrency, they are certainly clear in their attempt to criminally investigate those people who ignore reporting their crypto. Tax law office, placing associates has concluded that cryptocurrency examinations

are not a real thing. And criminal tax prosecutions are likely to surge in the near future. In fact, the IRS Criminal Investigation Division admitted that crypto tax enforcement would become one of its main priorities from now on. Like they have nothing better to do. Come on man, that is absolutely hilarious. You know, it reminds me of this story from last year where the IRS actually admitted

that they specifically target regular people since the average Joe just tends to roll over in fear of the IRS. And thus they are much easier to chase and to collect from. Whereas the rich, they'll fight the IRS. They'll fight them with lawyers, with complex webs of offshore accounts and loopholes and trusts and shell companies and all this kind of stuff that the average person has no

access to. So it's not just a real thing. It's very hard and takes a lot of time, effort and money for the IRS to go after the people who are actually doing criminal acts. Instead, they just decide to harass regular people who may or may not be accurately accounting for the gray areas that the IRS has failed to account for. Governments are basically criminal mafia. So

make sure to pay your taxes or else come for you. So the question for you for today. Do you think that the IRS is going to be a real criminal? Crypto being mentioned in mainstream sources like on the Simpsons will actually get more normies interested in crypto. Or is it just a pointless gimmick that kind of doesn't really matter. Just another feather in the hat for

crypto acceptance at a mainstream level. Let me know your opinion about it down below in the comments section. Thank you so much for watching today's video. As always you guys are super, super awesome. So thank you so much for watching this video and for continuing to support the channel. It really means so much to me. So thank you so much for your time. And if you

then enjoyed today's video, the thumbs up button guys. And of course make sure to subscribe to the channel if you're new around here. Long live the blockchain. And peace out until next time. Bye.