Bitcoin - Challenging $7,000 or Will Crumbling Bon

Today in crypto Bitcoin is currently range bound. Can't we break $7,000 for Bitcoin or really uncertainty that we're currently seeing the globe markets bring us back down to earth? And speaking of markets, the global bond markets may just be in big trouble. Bybit finally adds USD contracts. Opera Bowser continues to lead in global crypto adoption and some super interesting market data for you as well as

Jeff from Kalenbrown, Hopponon for a few minutes to discuss just what the heck is happening over on the OTC markets. The crypto lark, this is where you subscribe for all of the hottest and all of the latest happening out there in the wild, wild west of crypto land. Now let's just hop straight into the charts here. Now Bitcoin has had a nice breakout today, blasting upwards

by around $500, which is definitely cool to see. But really Bitcoin right now, we're just range bound. We have just been bouncing back in fourth in the channel on the chart here. Now we have seen twice, $7,000 act as a strong zone of resistance. For Bitcoin, that is the top zone course of this channel here. Now you really need to watch for Bitcoin to retest this

$7,000 zone. We could get denied there again as they say third time as a charm. But with prevailing market conditions, a bit more ranging in this channel and potentially a failed retest, that would just not surprise me at all. Anyway, that's just looking at the show. We're going to be doing a shorter time frames since the weekly candle just closed. I want to take a minute

to look at those bigger time frames as well. So the weekly candle closed above the 200 week moving average. I really wanted to highlight something that is super, super important. That is that bottom range of like it's either here or outch land. Basically. So it's very good to see that we are above the 200 week moving average. That really shows the market has been able to

defend this level. At the 200 week moving average, really as a range of dynamic support. So that price is right around 5600 at the moment. So let's not see Bitcoin fall under that. Now over on the daily, we are getting a strong bullish engulfing candle, which is definitely nice to see that we might be seeing some more bullish momentum coming into the market in the short

term. But again, we still need to clear $7,000 for we can really see that. So we can really talk about bullish momentum. Now all that being said though, Bitcoin currently still under a death cross. I mean, hey, look, maybe this is going to be the shortest death cross ever. And just going to cancel out in a few days. That would be nice. Wouldn't it? Can I

just dial up an order for that? Hello. Crypto market gods. Yeah, yeah. Let's just cancel that death cross. That'd be great. Thanks. Thanks guys. Now, otherwise, if that doesn't cancel out, we may grind into a longer term down in the short term bullish action that we're seeing. So keep an eye on world markets to see what the wider impact will be for crypto. Because recently Bitcoin

has been grooved and right along with the SMP 500. In this chart here, you can see the SMP 500 is the purple line. So if global markets totally tank again, then Bitcoin may not be spared from the turmoil. That's what played out recently. We would likely see that play out again if we see big market turmoil for the equities markets. Now, before I break down the

news for you, I do have a little bit more interesting data to share with you as well on the crypto markets at the moment. Now the on chain data is showing where Bitcoin is moving. And it has been a very interesting week watching the moves of Bitcoin. First, let's take a look at the weekly on exchange flow. So more than $300 million or the Bitcoin has

been withdrawn from exchanges. Now, this is showing that there are more buyers at these levels, which is definitely a good thing. And at the buyers, what they're doing is they're buying it. And then they're getting at the heck out of the exchanges. It also shows that to an extent, people are not trusting their Bitcoin on exchanges, or particularly that they're probably really not trading with Bitcoin

on exchanges moment. They're just buying. And with drawing obvious, you should never trust an exchange as they place to store your Bitcoin. Not banks get yourselves ledger guys. Now, who has been selling this Bitcoin? Well, mostly big bag holders. The next chart shows that the number of Bitcoin addresses holding more than 100 Bitcoin is at a six month low. Now, this contrasts very well with this

chart here that shows that the total number of addresses holding one Bitcoin has just hit a new all time high nearly 800,000 addresses. Now hold more than one Bitcoin. That's awesome. That's really awesome. And of course, this other chart really backs it up as well. The number of Bitcoin addresses holding more than 0.1 Bitcoin is also at a new all time high, just a little shy

of three million addresses. Now, this is very, very important data. Because what it shows is that, well, we have seen these bigger investors, you know, the fidelity types, for example, de-risking by selling off Bitcoin that smaller investors, retail investors, those people who can afford to invest 500 to 5,000 to 10,000 dollars, those people came in and they bought the Bitcoin dip, which is very cool to

see. Now, next up, before you have some big news for all the buy bit traders out there. Now, buy bit has just brought in USD contracts. That is great news for traders since before on buy bit. They only offered paid in kind contracts, meaning that you trade Bitcoin. And you get paid in Bitcoin, which yeah, that's that's great. But it can be a bit tricky when

you go and buy Bitcoin to go over to buy bit and short the market since you're a bit. So, you're getting on the Bitcoin that you just bought to go down in value. But these USD contracts really make it super easy for traders who want to get more dollars into their pockets to be able to do that over on buy bit. The new contracts are also

offering support for hedged positions in the same contract as well as cross margin. And you can even use unrealized profits of cross margin positions to be able to open up a new position. Or even to withdraw the profits from that. It's a pretty cool stuff. Buy bit really continuing to show that is the leader in the futures contracts trading market. Also, they're going to be doing

a really, really big giveaway here in April. Now, I'm going to have details on that for you a bit later. So, keeping out for that couple of weeks from now. And of course, if you're not signing for a buy bit yet, there is a link down below where you can get signed up. And of course, you can claim up to 90 dollars. And welcome trading bonuses.

And of course, as always, margin trading carry significant risk. And it is not for inexperienced traders. Next up, opera browser is going to be incorporating unstoppable domains into their browser. This is super big. Because even though opera is, you know, not the number one browser globally, opera still has 80. million users. Obviously, that is massive. It's also massive because this is the first time that a

major global browser has actually decided to support domains that are not part of the traditional DNS system. Very, very cool stuff. So if you are an opera browser user, then go and check out some of the most common dot crypto domains. For example, you can go and check out crypto, like dot crypto. And you can see my unstoppable domain or you can go over to kyber.crypto.

And you can swap some Ethereum based assets. Okay. Now, let's talk about bonds. Exciting stuff. I know, I know. But bonds are massive. And while I've spent a lot of time talking about the repo markets and the money printing minimum or general sense, the bond markets are likely to be in big, big, big trouble. Now, why? They should this matter because the bond markets, they're currently

worth around $55 trillion. So they're kind of a big deal, guys. Kind of a big deal. Now the US bond markets continue to suffer as the crisis continues to grip the nation, the US 10 year treasure, for example, still showing a low rate of 0.7%. Now bonds, well, traditionally thought of as a safe place for investors to park their money. They may not prove as safe

as advertised. And a massive economic downturn that could in fact in the coming months turn into an economic depression. Obviously, I don't want to see that happen. That would be horrendous for a variety of reasons, but this is a potential outcome. Now, I want to play a short clip here from the whole market and positive times when this erupts, this is the end, essentially, of the

system. This is what a bond crash looks like. Value of global bonds has plunged by $5 trillion to $55.5 trillion in the past two weeks equal to the GDP of Japan. Investors fear a tsunami of new debt as governments around the world prepared to release massive fiscal stimulus plans. Right. The bond bull market, the bubble, the biggest bubble in the world economy. The bubble was not

Bitcoin. It certainly wasn't gold. It was the bond market, the sovereign bond market. And when these countries started the issue, negative interest rates, sovereign debt, that was your big sign in the sky, like a huge Batman signal in the sky. Like, this is about to crash. This is about to crash. The bond market, of course, will go reversion to the mean. It'll restore, it'll go back

to its long term trend of 5, 6% on an in turn out of 10 year bond, sovereign thought. That means a 50% to 60% mark down in the bond market, which means pretty much every S&P corporation now is going to have to declare bankruptcy. Give or take a few. They're going to need massive bailouts, massive restructuring, massive layoffs. But this is the price to pay for

for blowing this enormous bubble. This is a bubble popping. You know, Max can be a bit dramatic in his predictions sometimes, but he is right. The bond market is just another hopelessly rotten part of the global economy. I've been talking about the sickness of negative yield bonds for a long time now. The situation has only got worse with this current crisis. Will it get as bad

as Max thinks it may get? Well, that would certainly be dramatic. And the central bank printers will try their hardest to stop the leaks in the ship by plugging it up with money. But we are currently seeing a situation where the chickens are coming home to roost. Now, let me just whack that chart up there again from the video. Now, the bond's market, it has increased

by nearly 50% or around 20 trillion dollars in the last five years. Does that sound sustainable? No, this is freaking madness. This is the result of a decade of cheap credit being pumped into global markets and a failure to actually address the corruption and the chronomist conduct of Wall Street back in 2008. The fact that no one went to jail for all that craziness tells everything

you need about how fricked up the system is, man, this failure to keep the bankers in check along with creating a system that is reliant on the continued influx of cheap, easy money has made the global market incredibly weak. So a massive reckoning, it is coming for the global economy. We were currently experiencing nearly stages of it, especially for the big companies. And yes, of course,

for entire economies, if this drags on too long, many of these companies, let's be fair, they would have already gone bankrupt. Had they not got bailed out from governments because most of these companies, they're so unbelievably e-responsible. It's crazy. Also just as a quick reminder, here's a quick clip of the US president talking about the trillions of dollars being dumped into the economy. Or as we

like to know it, the fiat dumpsterfire. And we can handle that easily because of who we are, what we are. It's our money. It's our we are the ones. It's our currency. We can handle it and we can handle. I watched Jerome Powell the other day and he did a good job. He said, we'll do whatever we have to do. John, we have to do whatever

we have to do. Now this clip is just a reminder that the people in charge of the dollar, they have no shame in their willingness to print the dollar into absolute nothingness. The words of Trump, they simply echo what the Fed has already been saying. They have the ability to print infinite money, the Treasury Secretary, infinite money. They all agree. And at what point does reality

sink in for the average person that this money is doomed? Fiat currency is doomed. How long can the charade carry on? People will start to realize the simple truths. Like if they can print infinite money, why bother paying taxes? If they can print infinite money, then how long until hyper inflation takes over hyperinflation, that is something that should frickin terrify everybody because your money, those pieces

of paper, they can become worth next to nothing in a very short amount of times. Happened all over the world is going to happen again. Big fiat's are not immune to this. I'm a big believer in the $100,000 Bitcoin here. As well mentioned that. But I don't want to see $100,000 Bitcoin because the dollar is worth nothing. It is good though. The one Bitcoin will always

be worth one Bitcoin. But the dollar man, look, and we know that that's $6.2 trillion. That's not like literally the end to the madness that they're doing in the markets right now. Why? Because it's the only tool that central banks have left. And finally, Jeff from Kalem Brown is joining me for a quick glimpse into what is happening in the OTC markets for Bitcoin and cryptocurrencies.

Let's check that out. Super excited to have Jeff from Kalem Brown on the show today. He's going to be sharing with us some market insights. Now, Kalem Brown case, you're not familiar. Is a brokerage service based out of Australia, but with a global focus. They've been getting some really, really interesting things happening recently. He's going to be sharing some great data with us. Now, before Jeff

comes in here and tells us some of these great stats he's got to share. I just want to mention that this is not a sponsor's segment. I am an affiliate for Kalem Brown. They are my go to broker service. I've been using their serves for some years. If you do want to find out some more information about Kalem Brown, there is a link down below where

you can check that out. But Jeff, how's it going, man? Yeah, it's going well. We're trying to keep our social distancing here at Kalem Brown. I just try to follow the rules. Everyone's been working from home. But besides that, we've been okay. Nice. Now, the price, it's been a crazy few weeks. Has anything changed with the fund eventals? From our perspective, obviously, we did see a

big drop. We did see a big drop. It was probably the biggest drop in Bitcoin history there. But look, we're in the middle of a health crisis. And the long term funding metals, the crypto currency, they haven't actually changed. We've seen a healthy bounce as more than people actually turn towards crypto currency as an investment class. And look, Bitcoin will continue to do what it does

day in, day out. No matter what happens economically, there's no Bitcoin store to be shut. Because there's no one to catch it. If they catch the virus, if you know what I mean, if anything, in times like this, it actually causes more price volatility, which some people could make opportunity. That's right. That's right. There's lots of opportunity out there in these markets, which is the crazy

thing. I know that not everyone wants to hear that because they, you know, a lot of people grow through a lot of pain, right? Yeah. And in terms of going out the markets, but there are people who they've been waiting for this moment for years, and they're jumping in and they're taking advantage of that. Now, one thing that's been really interesting. And I shared a little

bit of this the other week with everyone here in the audience, but the customer demographics. So you can tell us a little bit, you know, at your brokerage, what's been the customer reaction to this? What kind of customers have you been seeing coming in? Yeah, this is a really great question. We're actually starting to see a new wife of investors. We're talking about people who are

new to crypto, okay? People who don't know how to use a wallet who haven't invested before. And even people that have spoken to us in the last six to 12 months, and they weren't really sure whether that, whether it was a market for them. We're talking about customers as well, who are typically more conservative, who are looking to enter the market. We're talking about people who

are traditionally gold or property investors, which is pretty interesting stuff, you know, with, we've even had more institutions like funds. And family offices reach out to us in the month of March that we ever have before. What does this tell you? That's pretty crazy, actually. Just to recap this, we're talking lots of institutions, family offices and different funds, as well as, you know, really the more

traditional property investor type as well. I mean, people, there is really interesting like this, this switch flipped as soon as we got the price down far enough, a whole class of investors who've been watching Bitcoin, know about Bitcoin, they came in and said, we want to buy Bitcoin, because that's the other interesting thing. It's actually the, basically, the volume of what's going on here. It's all

been mostly buys, correct? Oh, yeah. Yeah, we definitely do feel we're starting to see our paradigm shift and how people are viewing cryptocurrency as an investment class. The last one we saw this type of investor behavior was early 2017 at the start of the last bull market. So when it comes to volume, yes, we are about 98% on the buy side in the month of March

buys a split 70% Bitcoin, 20% Ethereum, and 10% general altcoins. This actually tells us that investors are on the side of caution at the moment. In uncertain times, they're looking to pick up your more blue chip crypto assets opposed to your more speculative ones. Yeah, but when the chips are down, people go for Bitcoin when, you know, a little more greed comes in and the market,

people start playing altcoins again. But yeah, that's not surprising to me actually hear that people are going for the big boy when it comes down to it. Yeah, yeah, absolutely. Bitcoin is king. And there's one other fact that is really, really interesting is a lot of people are actually because the AUD is performing so poorly, they're actually investing in a tether, a tether USDC, true USD

stablecoins to hedge their US dollar value. So obviously, in the last couple of weeks, it's going to be huge. It's a huge disparity between the AUD and the USD. It's kind of stabilized at the moment, but people are still looking to use as a hedge. That's an interesting thing that's been happening too, actually, to see that all of these different fiat currencies that are not the

dollar have been getting hit pretty hard. Oh, yeah. Oh, yeah. And look, it may be all that volume that's popping it up. Who knows? Just more and more people like than ever in the US and Australia are just looking to get out of the financial system. It's completely understandable. Everyone is trying to hedge or run for the US. Yeah, well quantitative easing and interest rate cuts.

It's happening literally everywhere. I mean, I talk about the US a lot on the channel, but it's happening in New Zealand, it's happening in Australia, it's happening in the European Union is happening everywhere. And that's, I guess, maybe the next thing is, do you see a lot of people when they're calling up, you know, these different funds and family offices and things like this? Are they

actually citing geopolitical reasons as a potential why they want to buy Bitcoin? Absolutely. As global concerns are starting to mount with things like the Federal Reserve, like you mentioned, has announced that they're literally printing unlimited money like through quantity of easing. Many are speculating this will obviously help in the short term, but in the long term cause high inflation and cause more problems. So people are

looking for something different and look Bitcoin maybe the way. Thanks. And what's the, I guess, what's the market outlook from the Seamick Allen Brown? What are you guys seeing coming up here in the next few months? Yeah, absolutely. So in the short term, we think we may stay in this range. So we're a little bit bearish. Mids a long term bullish though. We're expecting the Bitcoin

halving to actually be a non-event. I know a lot of people like the halving, the halving, the halving, but we're expecting not not a lot of action in that area. Historically, we've seen the effects of the previous Bitcoin halvings actually unfold over six to 12 month period. So we're expecting that. Nice, nice, very cool stuff. Jeff, Jeff, we're going to keep it there. Keep it nice

to short, but thank you for coming on and just sharing some of those statistics and kind of what's going on over in the brokerage space. Thank you so much. Thank you so much for having me. Super interesting insights from guys over at Kalen Brown key takeaways from this investors in the OTC market. They are buying and the crypto that they are buying is mostly Bitcoin. So

what are you doing? Are you buying Bitcoin these days? Are you just stacking sats and chilling regardless what the market's doing? Are you buying altcoins at the moment? If so, which altcoins are you buying? Or are you just maybe trading the markets at the moment? Or are you sitting on the sidelines due to just really the crazy uncertainty that we're seeing in the market? Maybe hoping

for it to go lower. Me personally, I've mostly been trading altcoins over on Binance and Bitcoin over on Bibit over the last couple of weeks, but I did make one new crypto acquisition. I finally got a position again, I guess I had it some years ago, but on Kiber Network. So finally got back down to a semi reasonable price and I got in. I'm hoping for

further price drops to add more to my Kiber Network stack. Anyway, keen to hear from you and what you are doing in the market down below. As always, these are just my T-sato. She's so I hope you appreciate them. I hope you're having a great day out there as well. You're staying healthy, you're staying safe. You're enjoying your isolation days. If you happen to be in

a country, like New Zealand, where everyone is on lockdown. Thank you so much for watching the video. Please hit that thumbs up button. If you did enjoy this one, make sure to subscribe to the channel if you're new around here. Long live the blockchain and peace out to next time. Bye.