ETH/BTC Outlook
Summary
TLDRIn this video, the host delves into the Ethereum to Bitcoin valuation, a key metric for gauging the altcoin market's health. They discuss the historical trend of altcoins losing ground to Bitcoin until the ETH/BTC valuation hits the 0.03 to 0.04 range, which has recently been reached. The host also explores potential market outcomes, including the possibility of the valuation falling further, and emphasizes the importance of this ratio as a leading indicator for altcoin performance. They conclude by highlighting the significance of this metric in understanding the broader crypto market dynamics.
Takeaways
- 🚀 The speaker discusses the Ethereum (ETH) to Bitcoin (BTC) valuation, a metric used to gauge the health of the altcoin market.
- 📉 The ETH/BTC valuation has been a focus for years, and it's believed to be instrumental in understanding the overall market movements of altcoins.
- 🎯 The speaker predicted that altcoins would continue to lose value relative to Bitcoin until the ETH/BTC valuation reached the 0.03 to 0.04 range, which has now been hit.
- 🔑 Despite Ethereum's transition to proof-of-stake, deflationary mechanisms, and potential ETF, monetary policy has been the dominant factor affecting its valuation relative to Bitcoin.
- 📊 The speaker emphasizes that market movements don't always align with fundamental analysis, and sometimes broader economic policies take precedence.
- 💡 Historical data suggests that the ETH/BTC valuation bottomed when U.S. interest rates were cut and the Federal Reserve began expanding its balance sheet, which has not yet happened in the current cycle.
- 🤔 The speaker suggests softening the bearish bias on the ETH/BTC ratio, acknowledging that while it may not go lower immediately, it could still reach sub 0.04 by the end of the year.
- 📉 The speaker notes that Bitcoin dominance has not yet reached the anticipated top of around 60%, and without a rate cut or Fed balance sheet expansion, the potential for ETH/BTC to drop further remains.
- 📊 The script mentions the importance of monitoring the supply of ETH, which has recently become inflationary contrary to expectations, potentially signaling a market bottom.
- 📅 The speaker highlights the seasonality of Bitcoin, suggesting it tends to perform better in Q4 than Ethereum, which could influence short-term market dynamics.
- 🌐 The ETH/BTC valuation is considered a compass for the altcoin market; its direction can indicate overall market sentiment for altcoins.
Q & A
What is the primary focus of the video?
-The primary focus of the video is the Ethereum to Bitcoin (ETH/BTC) valuation and its significance in understanding the altcoin market.
Why is the ETH/BTC valuation important for the altcoin market?
-The ETH/BTC valuation is considered instrumental in helping understand the general health of the altcoin market, as it provides insights into whether the altcoin market will perform well or face challenges.
What range did the speaker predict for the ETH/BTC valuation, and has it been reached?
-The speaker predicted the ETH/BTC valuation would range between 0.03 to 0.04, and it has recently hit the upper target of 0.04.
What are some of the factors the speaker believes influence the ETH/BTC valuation?
-Factors include monetary policy, market movements, and historical trends, rather than fundamentals like proof of stake, deflationary mechanisms, or ETFs.
What historical event does the speaker reference when discussing the bottoming of ETH/BTC in the last cycle?
-The speaker references the interest rate cuts in July 2019, which preceded the bottoming of the ETH/BTC valuation in the last cycle.
What is the speaker's prediction for Bitcoin dominance and its relation to the ETH/BTC valuation?
-The speaker predicts Bitcoin dominance will likely top around 60% and that this will coincide with the ETH/BTC valuation finding its bottom, potentially after rate cuts.
How does the speaker view the impact of monetary policy on the ETH/BTC valuation?
-The speaker believes that monetary policy often trumps other factors, suggesting that until there is looser monetary policy, fundamentals like proof of stake or deflationary mechanisms will not significantly impact the ETH/BTC valuation.
What is the current trend of Ethereum's supply, according to the speaker?
-The speaker notes that Ethereum's supply has turned inflationary in recent months, adding about 60,000 ETH per month, which could potentially go inflationary by the end of the year.
What are the speaker's thoughts on the future movements of the ETH/BTC valuation?
-The speaker thinks ETH/BTC could still go below 0.04 before the end of the year, but if it doesn't, then 0.04 may be considered the low. The speaker is also open to the possibility of ETH/BTC finding relief and bouncing back in the short term.
What does the speaker suggest about the patience required in following market predictions?
-The speaker acknowledges that predicting market movements can be challenging and requires patience, as it often takes a long time for predictions to play out, as seen with the ETH/BTC valuation hitting 0.04 after several years.
How does the speaker suggest investors view the altcoin market relative to ETH/BTC movements?
-The speaker suggests that if the ETH/BTC valuation is expected to go down, it generally indicates a challenging period for the altcoin market, whereas an upward movement in ETH/BTC would be favorable for altcoins.
Outlines
📈 Ethereum's Valuation Against Bitcoin
The speaker discusses the Ethereum to Bitcoin (ETH/BTC) valuation, a metric used to gauge the health of the altcoin market relative to Bitcoin. They've been tracking this metric for a long time and believe it's instrumental in understanding market movements. Historically, altcoins have been expected to lose value compared to Bitcoin until the ETH/BTC valuation reaches a certain range (0.003 to 0.004). The speaker notes that this valuation has now hit the upper target of 0.004, which they had predicted years ago. They also discuss how despite Ethereum's improvements (proof of stake, deflationary mechanisms, potential ETF), the market has responded based on monetary policy rather than these fundamentals, emphasizing that market movements don't always align with what seems logical based on asset characteristics.
📉 Historical Analysis of ETH/BTC and Market Cycles
The speaker continues by analyzing the historical performance of the ETH/BTC valuation, noting its correlation with U.S. interest rates and Federal Reserve's balance sheet activities. They highlight that the valuation didn't bottom until after interest rate cuts in the previous cycle and that total assets on the Fed's balance sheet made a significant turn before the bottom was reached. The speaker suggests that while the ETH/BTC ratio may have reached its peak, it could still go lower before the end of the year, especially considering Bitcoin's dominance hasn't topped at 60% and the Fed hasn't cut rates or expanded its balance sheet yet. They also mention the possibility of a bounce in the ratio and the importance of not assuming the market has bottomed out prematurely.
🤔 Speculating on Future ETH/BTC Trends
In this paragraph, the speaker speculates on potential future trends for the ETH/BTC valuation. They suggest that the market could be entering a phase of final capitulation, potentially breaking established trend lines. The speaker also considers the possibility of a bounce that might not lead to a new low for the rest of the year, suggesting that the current 0.4 level could be the low if it doesn't drop further by December. They discuss the importance of being open-minded about the potential for the valuation to go slightly lower, given the current economic conditions and historical patterns.
🔍 Analyzing ETH Supply and Market Confidence
The speaker examines the supply of Ethereum, noting a recent trend towards inflation rather than deflation, which contrasts with the narrative around Ethereum's merge to proof of stake. They discuss how the market's confidence in altcoins seems misplaced, given that many altcoins haven't yet reached the lows seen in previous cycles. The speaker suggests that the market may have been overly optimistic, failing to recognize that the conditions that led to a bottom in the last cycle (such as rate cuts and balance sheet expansion) have not yet occurred. They also highlight the importance of tracking all Bitcoin pairs to understand the broader market movement.
📊 ETH/BTC Valuation and its Impact on Altcoins
The speaker concludes by reiterating the importance of the ETH/BTC valuation as a compass for the altcoin market. They suggest that if the valuation goes down, it's generally not good for altcoins, and vice versa. The speaker reflects on the journey of tracking this valuation and the challenges of waiting for market movements to align with their predictions. They also hint at the possibility of the ETH/BTC valuation returning to the levels where the recent bubble began, which they estimate to be around 0.003 to 0.004. The speaker emphasizes the importance of understanding market cycles and the influence of monetary policy on crypto valuations.
Mindmap
Keywords
💡Ethereum
💡Bitcoin
💡Altcoin
💡Valuation
💡Market Dominance
💡Proof of Stake
💡Deflationary
💡ETF
💡Monetary Policy
💡Interest Rates
💡Market Cycles
💡Supply and Demand
Highlights
Discussion on Ethereum's valuation in comparison to Bitcoin.
Importance of the ETH/BTC valuation for understanding the altcoin market's health.
Historical tracking of the ETH/BTC valuation on the channel.
Expectation that altcoins will continue to bleed back to Bitcoin until the ETH/BTC valuation reaches 0.03 to 0.04.
ETH/BTC valuation hitting the upper target of the predicted range at 0.04.
Analysis of market movements and the impact on the general altcoin market.
The influence of monetary policy on the valuation, despite positive fundamentals like proof of stake and deflationary mechanisms.
Historical comparison of ETH/BTC valuation with US interest rates and Federal Reserve's balance sheet.
Prediction that Bitcoin dominance might top around 60%, correlating with potential interest rate cuts.
Speculation on the potential bounce of ETH/BTC and its implications for the market.
Consideration of the ETH supply dynamics post the merge and its potential impact on valuation.
Discussion on the seasonality of Bitcoin versus Ethereum and its market implications.
Analysis of all Bitcoin pairs and their historical performance in market cycles.
The potential for ETH/BTC to bottom out when Ethereum's supply becomes inflationary compared to the merge.
Strategic hedging advice in the context of the crypto market's volatility.
Reflection on the journey of tracking the ETH/BTC valuation and its significance for the audience.
Final thoughts on the ETH/BTC valuation and its role as a compass for the altcoin market.
Closing remarks and call to action for subscribers and Into The Cryptoverse premium.
Transcripts
hey everyone and thanks for jumping back
into the
cryptoverse today we're going to talk
about ethereum more specifically we're
going to talk about the eth Bitcoin
valuation if you guys like the content
make sure you subscribe to the channel
give the video a thumbs up and also
check out the sale on intothe
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cryptoverse
docomo valuation is is something we've
been tracking for quite a long time on
the channel
um it's it's a metric that I think helps
identify the General Health of the
altcoin market now that doesn't mean
that some altcoins can't
outperform and go against the grain and
in fact we've seen that happen right
there are definitely some alts that have
outperformed and and they've even
outperformed Bitcoin but and thinking
about sort of the General market
movements right over Market movements
the the altcoin market as a whole not
just a few cherry-picked altcoins to
make the case when we talk about the
altcoin market as a whole I do think
that the eth Bitcoin valuation is
instrumental and helping us understand
you know is the altcoin market going to
do well or does it face some you know
some troubles and one of the things that
we've said this year and and really for
the last two and a half years is that
altcoins will likely continue to bleed
back to
bitcoin until the eth Bitcoin valuation
goes to the 003 to 004 range now eth
Bitcoin just hit 04 okay so the upper
Target of the range that we said a long
time ago years ago has finally been hit
after after all this time it's finally
been hit okay and and essentially it's
this range right here right
03 to
004 so this is the range that I I said a
while back would likely be sort of the
eventual
Target by the end of the having year
right I've said many times I do think we
could see dominance
top in September at the earliest could
also top in December potentially
um but it's really nice to see how all
this has played out you know and and it
has been difficult obviously going
against what a lot of people want to
hear and and you know what might make
sense just based on what people say
right fundamentals proof of stake
deflationary
ETF and and you can see this is a great
example of how at the end of the day
none of that actually
mattered
because of monetary policy that doesn't
mean it won't ever matter that's the
thing and that that is what I want
people to understand is that I think a
lot of people might look at it and say
well none of it ever never none of it's
ever going to matter and it's just going
to bleed forever
because you had the transition from
proof of work to proof of State you had
the you know you had this deflationary
mechanism right that theoretically
reduces the supply which is not being
reduced right
now and the spot ETF and all three of
those things you know are not bad things
right they're all good in their own
right but my argument all along was you
know the market doesn't actually have to
make sense based on that
stuff sometimes monetary policy trumps
all of that and this is a great example
of that it doesn't mean that that stuff
doesn't matter at all it's just that
it's probably not going to
matter until looser monetary policy
arrives as it relates to the eth Bitcoin
valuation okay again it doesn't mean it
won't ever
matter it's just that the market doesn't
care about
that until looser monetary policy
arrives and one of the reasons we've
talked about this before is you know if
you were to go look at say
us interest rates right simply just us
interest rates and you looked at at at
at where eth Bitcoin bottomed just last
cycle right we know that it didn't even
bottom until after interest rates
occurred if I can find the
um the the arrow right we know it didn't
bot them until after interest rates
actually occurred and and that is you
know that's the uh the thing that I've
highlighted many many times right we had
interest rates interest rate Cuts in
July of 2019 and then eth Bitcoin
shortly bottomed you know bottom very
shortly later okay so this cycle I just
said look you know last cycle I saw all
that happen and I recognized back then
that it would have just been better to
stick with Bitcoin over
ethereum until Bitcoin dominance tops
which is likely going to be around 60%
and is likely going to occur around the
time of rate Cuts now we still have not
had a rate cut right and remember last
cycle eth Bitcoin didn't even bottom
until two months after rate cuts and so
that is what has kept me on the right
side of the eth Bitcoin chart because
again you know if you go back and look
most most analysts I think have not been
calling for this
drop apart from say you know hardcore
Bitcoin Maxis right but they'll they you
know that's sort of the argument of for
any coin against Bitcoin and you know to
some degree there are most alts do
eventually bleed against Bitcoin
but this has played out right I mean it
has played out eth Bitcoin has tagged
04 which is the upper
Target of the range we set a long time
ago so then I want to talk about you
know what to generally expect from here
okay because this has been a a long ride
now one thing to keep in mind with
regards to eth bitcoin is that it is
tagged this trend line again right so
you can see this let me actually remove
um actually before we get to that I just
want to mention one more thing if you
look at at at total assets held by the
Federal Reserve that was another thing
that helped identify where eth Bitcoin
bottomed last cycle right it was when
total assets on the balance sheet of the
FED made a u-turn that's where eth
Bitcoin bottomed and that hasn't
happened yet okay
so where does eth Bitcoin go from here
now the first thing I will say right and
again this happens a lot is that at some
point in the future it's probably going
to bounce and then everyone's going to
wonder well is that it now that it's at
0.4 right now that it is hit
0.4 I think it makes sense
to soften up the bearish bias on the eth
Bitcoin ratio right soften it up what I
mean by that is not that it can't go
lower it's just that I think the window
for it to go lower is just between now
and the end of the year if it does not
go lower by the end of December then
0.004 is likely the
low but there's a lot of time between
now and the end of December
right the reason why I still think it
makes sense to be open to the idea that
eth Bitcoin could eventually go sub .04
is because Bitcoin dominance has not hit
60% which I think is what the top is
going to be and we know last cycle it
didn't bottom until after rate cuts and
once the FED began to expand their
Valance sheet neither of those two two
things have occurred yet now that
doesn't mean that Bitcoin can't bounce
in fact there's been many times where it
has bounced off of this trend line and
many times where people wrongly assumed
that that was the bottom right I mean
it's happened so much and you know it is
exhausting right I mean it is exhausting
sort of having the same arguments over
and over and over again with people
but I think it's safe to say that you
know the views that I any I I I'd like
to come out and say when I'm wrong a lot
I really do I I hope you guys have seen
that this year I do say when I'm wrong
but this is one thing that I I I really
do think that you know I've been on the
right side of for the last several years
and
um you know I mean it's hit 0.4 it's
bounced back up to
042 you know the bullmark sport Bin's
got to be a lot higher I mean it's all
the way back at 0.5 right I mean it's
it's so much higher than the current
levels so then the question is is like
what's going to happen from here well
one option is that eth Bitcoin bounces
and and then doesn't actually roll back
over again for a couple more months okay
that that sometimes happens where you
know it hits a low like here was in
October and then it came back down in in
January um here's another example where
it hit a low in April and then it came
back down in in May okay so that happens
a lot and you know it's important to be
aware that something like that could
certainly happen again there is also a
chance that it breaks the trend line
okay now I'm not saying that has to be
your base case of course but sometimes
the way you actually enter into final
capitulation is to break the trend line
that you thought you would never break
right and and that sort of leads to that
final capitulation again that doesn't
have to happen but you know if if eth
Bitcoin did something like this you know
and did end did that or something that
could actually Mark the final
capitulation low and then it sort of
builds it way back up in in
2025 if on the other hand right instead
of doing something like that if it were
to just sort of bounce around
here then by the end of the year that
would probably mean that 04 would be the
low if it's unable to take that out I
mean what I mean by that is that if it's
not able to take out 04 before end of
year then I would say 04 would be the
low but because Bitcoin dominance is not
at
60 and because the FED has not cut and
because they have not begun to expand
their balance sheet that's why it still
makes sense to be
open-minded about it going slightly
lower now in the grand scheme of
things eth Bitcoin has dropped from the
highs it's dropped
54% now some people will say it's
holding up well but again this whole
Market has fooled them into thinking
it's holding up well as it just
continues to slowly go down and it's
been a you know and part of I I think
the hardest part for me was in my own
mind being very sure that this was a
likely outcome and just having to spend
so long waiting for it right that's like
the hardest part just waiting you know
being confident that it's likely going
to happen but not being obviously 100%
sure because no one can predict the
markets but being very sure that that
the that the most likely scenario is is
something like this and just having to
wait years you know to watch it play out
um so you know we'll see where where e
Bitcoin goes in the short term but I do
think that you know it could certainly
bounce around a little um and and I I
think there's still a risk of it going
sub .04 it might not happen immediately
one of the things that we've talked
about before you know we' be looking at
like monthly candles on on eth bitcoin
and I mean you can see that it seems
like it's getting into this like final
you know sort of
capitulation that you've seen the last
couple of Cycles where it just really
starts to bleed into you know into I
mean it might even bleed into I mean you
can see this one over here you had three
red candles and then it bottomed in
September there's a chance that you see
something similar like that right you
got three red candles right here you
know what happens if it does break below
this trend line in September and then
that ends up being the low and then
maybe it actually corresponds to you
know the First Rate cut of 50 basis
points last time eth Bitcoin did not
bottom on the First Rate cut but the
last time the First Rate cut was only 25
basis points if it's 50 basis points
maybe that would make it more likely for
it to just simply bottom out in in
September and then what you could see
happen would be something like that
where you know it it it might find a low
in September and then sort of double
bottom in December that's also an option
right that's also an option um and of
course you know it could always go back
up to the bullmark sport band and test
that as well but
I think that the eth Bitcoin
ratio is getting
close to whatever the low is going to be
if it's not already there
okay my base case my base case is that
it will go below
.004 but if by the end of the year it
hasn't then my base case will be that 04
is the low so I just want to be clear
about that right I I think eth Bitcoin
will go up in 2025 is what I think so in
2025 I think e Bitcoin will go up it's
just there's a lot of time between now
and the end of the year and in terms of
seasonality you know Bitcoin tends to
have better seasonality in Q4 than
ethereum um and and and that's you know
that's kind of where I think we are
right now and and so when we talked
earlier about about eth Bitcoin and how
it's useful for for understanding the
altcoin market one of the things you've
probably noticed over the last year is
that so many people have been so
confident in the altcoin market right so
many people have been so confident and
one of the reasons is because you know
they were looking at it and they were
saying oh well the altcoin market is
just here right it's it's basically
there they were unwilling to accept that
maybe it's here maybe it was here back
in
2019 just before the FED cut rates I
think that was what people missed right
they were looking at this they were
looking at the having year but they
should have been looking at 2019 not the
having year because 2019 is when the FED
cut rates right if you overlay us
interest rates that's when the FED cut
rates last cycle and so to me this was
always the more likely you know outcome
and you can see that that is more or
less what has been
happening and the reason the reason that
we knew that that was a likely outcome
again there were still no guarantees but
the reason we thought that hey people
might be getting ahead of themselves is
because when you looked at all Bitcoin
pairs when you looked at those you could
say well you know all these people are
are are so confident right that that
that they're right and that altcoins
have already gone through this entire
process but the thing that they're
missing is that last cycle when all
Bitcoin pairs when altcoins were making
that move that people were hoping they
were making a few months ago they had
already visited the range lows right
whereas this cycle they haven't visited
the range lows yet and so I think that
was sort of the missing component for a
lot of people this cycle is that that
actually didn't play out in 2023 like it
did in 2019 and so you're actually
seeing it play out in 2024 because it
didn't actually play out in 2023 if it
had played out in 2023 then I would have
been right there with you thinking that
it was more likely to be something
similar to that but it didn't play out
in 2023 and you know I think it's a
necessary component of the crypto space
um that altcoins are oscillators against
Bitcoin at best and I think that is what
helped keep me on the right side of of
the market by seeing look guys all
Bitcoin pairs still need to run the lows
and they and they just simply haven't
done that yet and we know that last
cycle all Bitcoin pairs collapsed into
their lows they started the collapse one
month before the First Rate cut one
month before the First Rate cut and you
know you can kind of see something maybe
similar will play out again right I mean
all Bitcoin pairs it's one month about
before the First Rate cut and you know
they're at 39 they're they're they're
below the the initial Wick low at
0.004 um potentially back testing it and
you know I I think there's a good case
to be made that it's going to go down to
0.25 and that in that process I I think
you'll see Bitcoin dominance go to
approximately 60%
so you know all this has played out um
one of the things that I've mentioned as
well is this website over here right
where you're tracking the supply of eth
you know and I I I I've mentioned this
many many times but you know really it
it has turned inflationary in recent
months and I I don't really think I
don't know how many people are looking
at this
but I mean over the last 30 days the
supply is up 56,000 eth right now over
the last basically since the merge it's
obviously still down but it's only down
to -
262,000 whereas back in April it was at-
457,000 so essentially you you've added
about 200,000 e to supply since April if
you continue at this pace right if you
look at at at at what's happened in in
in in 30 days supply of E's going up
about 60,000 e or so a month again by
the end of the year at this pace it
would go inflationary even when compared
to the merge
which might actually correspond to a
local a a macro bottom on the eth
Bitcoin pair just as it goes
inflationary right wouldn't that be
interesting goes
inflationary people finally are like
okay fine and then that ends up being
theow I mean it's possibility right I I
wouldn't I wouldn't put it past the
market for eth Bitcoin to bottom out
when it goes inflationary I mean you
know as as compared to the merge that
would be and the reason why it's
interesting because it's kind of like it
it seems like it could play out like
that right I mean 60,000 e a month you
got about you know four months a little
over four months before it would go INF
inflationary as measured from the merge
it's already August so September October
November December right December now if
it is December it could either be a
double bottom maybe you get one low in
September and then a second a double
bottom in December the other option
right the other I think equally valid
option could be that if e Bitcoin Co
finds some type of relief in the short
term and bounces back up then normally
when that happens it takes a couple of
months for it to then go back down and
put in a lower low right and we've seen
this happen many many times um I mean
even back over here right in May I said
all right when it's get when it gets
this bounce normally you would it would
you would expect it make take about two
months right and then you got June July
and you can see that really at the very
end of July and then early August that's
where it broke down again so you know if
it were to bounce again then that could
take you all the way out until October
before it's coming back down to these
levels again I I it's always worthwhile
to hedge I think um and I I do think
that eth Bitcoin is is actually pretty
close to the lows uh whatever those lows
end up being but I'm just trying to put
out you know the hey these are my
thoughts and um and it's really nice to
see this how how it has played out and
you know I think a lot of people sort of
Mis like they mistake me for someone
that you know wants to see something
happen whereas I'm just saying I just
think this is going to happen right it's
not that I necessarily want what I talk
about to happen it's just what I think's
going to happen based on what you know
historically happens during tighter
monetary policy periods right and I
think that's the trick with investing
and what drives a lot of people um to
make bad decisions is they you know they
they sort of they they listen to my view
about it but they're not willing to to
actually digest that view because you
know it it goes against what they want
to see happen in their portfolio right
so they just ignore it um but again you
know it's more so just a um a thought of
like this is what I thought was going to
happen and and for some reason I decided
to be very vocal about it I I don't
really think I'll be as vocal in the
future but uh it is not I mean it's it
feels like it's been a really long
journey and if you've been on me if
you've been on the journey with me
thanks for being here I I do appreciate
it um and I think we're getting close to
the
end so we'll see you know we'll see
where it ultimately goes as I've said
before a lot of times when you get these
sort of these bubble phases they
eventually return to where it started
from and and that would be what I would
consider sort of right around here um
and that's why you know 03 to 04 always
seem to make the most amount of sense um
because before that right it was just
sort of steadily increasing I wouldn't
considered that to be sort of a bubble
and then it really went up quickly and
that was kind of where the bubble
started and now it's just kind of coming
back down to where that bubble started I
don't think it has to come back down
here but you know that 003 to 04 range
has always you know made I think the
most amount of sense to
me so those are my views on on the eth
Bitcoin valuation um and of course you
know as it as it relates to a lot of
different metrics that we've you know
we've talked about as well that's
important eth Bitcoin is is sort of a
compass for the altcoin market if if you
have a reason to think eth Bitcoin is
going to go down that's generally not a
good thing for alts if you think eth
Bitcoin is going to go up that's
generally a good thing for alts so
that's where we stand I again I you know
I I we've been talking about it for
years thank you for coming along the
journey um and and if you'd ever you
know if you if you were right there with
me every step of the way and and
kind of thinking that all right these
are all just lower highs and and and
people are too impatient you guys know
you guys know how I feel because you
know I've I mean these are weekly
candles I mean look how many weeks this
has taken um and here we are after all
this time after all this time so we'll
see what happens here in the short term
with e Bitcoin um 042 I mean it's just
kind of crazy to look at it right I mean
042 here we are and uh it's been a long
it's been a long time coming but it go
and wrap it up there guys thank you for
tuning in uh make sure you subscribe
give video a thumbs up and again check
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