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YouTube Video Transcript
[Music] hey this is David for big bits and in this video I wanted to say thank you for being patient I’ve been sick with the flu the last couple of weeks and I’ve been able to push that much content I have since been able to resume this week and there’s gonna be a new video out coming tomorrow there has been a giveaway started I just haven’t been able to do anything with it so starting today the giveaway link is gonna be in the description of the video so if you want to have a shot at the $25.00 in Bitcoin giveaway that will be in the description of the video with a URL on how to participate on that it’s completely free so check that if can as far as the last giveaway in January that went really well there was tons participation at the winner I should say contacted me back immediately and the transaction went out I posted that on social media so if you’re curious to see who won you can check my social media probably Twitter or discord I think I posted on both of those the actual transaction and you can actually see where I sent the $25 Bitcoin to someone else or just one of the great things about blockchain is you can actually prove that you sent money to someone else without really revealing the identity of the other person so that’s pretty cool that we can do that but just having you all watch the channel means a lot to me there’s been a lot of great content the views are continuing to go up there’s a lot more subscribers the growth is continuing at an accelerated pace it’s not accelerating super quick but it is accelerated which is good which is exactly what I expected at this point given that we’re putting up content on a relatively regular basis here so if you’ve been liking the videos please go back and like them if you actually like them those those numbers actually helped a lot with making the videos more relevant on searches and things like that so I appreciate those of you’ve already done then if you haven’t and you want to that’s great if you one – that’s fine – but I did want to talk a little bit at the price it’s been a couple of weeks since I’ve been able to do the video about any TA or anything let me move my chart over here so we can be a little better picture of all the indicators so yeah this is the daily chart for Bitcoin I’m actually looking at BitFenix right now for another reason but price has been going pretty straight up with bounced off the mid Bollinger Bands twice we’ve broken the 200-day moving average we’ve gotten the Golden Cross the 50-day over the 200-day everything’s kind of pointing bullish we had a huge bounce yesterday which really cancelled out a lot of the drop in the price over the last few days and made the indicators look like they could be pointing to another jump up but I think we should all keep in mind that this has been a pretty extended rally with very insignificant dips so far I mean the biggest that was here to here that’s probably not that much we can actually measure that I think that was the wrong tool on apologies let’s say yeah that was only about ten eleven percent drop in the price so not much of a drop here price has just been going steadily up if you’ve shorted you’ve probably not done too well unless you’re shorting very short-term but it does look like things are getting a little bit overextended but like I said things have bounced and there is room for the price to continue to go up I don’t see this lasting for a whole lot longer eventually we will have to visit the bottom of the Bollinger Band or at least the bottom area of it you can see even when we had the very large rally back in 2019 when price continued to shoot up you can see eventually we did come down towards the bottom Bollinger Band before eventually making another huge run-up in my opinion we might be somewhere around in here I think we have a move similar to this coming up and some more sideways hopefully a dip back to the bottom Bollinger Band and moving up of course there’s no way to tell but that’s kind of what I’m expecting to happen and considering how long we went without visiting the bottom area of the Bollinger Band without retesting any of these moving averages really we went right above them right above the hundred-day and we kind of tested it there a little bit but didn’t come back down to it we didn’t come back down to the 200-day we haven’t come back down to the 50-day since it was broken so eventually those are gonna have to be retested and if they hold it’s gonna be very good and of course the halving is coming up so things are looking very good right now and there are dips to be expected but they may not be just yet I’m hoping we can get past what resistance is here peak up dip come back down to the bottom of the Bollinger Band test the 50-day and then continue on up but that is yet to be seen on the weekly chart things are continuing to look good they move that back out of the way you can see we are at the Bollinger Bands at the top of the Bollinger Bands on the weekly which means we can continue to ride those up if the price you stay bullish but we are kind of peaking at the stochastic RSI and it’s not even at a hundred so it there might be a brief dip but I would expect if it were it would continue right back up pretty quickly as the RSI is still trending up the MACD just recently flipped and there’s a bullish momentum continuing on the weekly for the Bitcoin now I’m not gonna go too far in depth with some of the other ta because there’s some news I want to get to so let’s go ahead and take a look at a theorem which has been on an absolute tear you can see there a little bit on the weekly chart its head what appears to be ten weeks in a row of green candles and it’s indicators are very very very much maxed out it appears but it’s in a very similar situation the Bitcoin although it’s RS I got really overbought at this point and you see there was a sharp correction of it bounced back so it’s kind of the same situation we haven’t visited the bottom region of the Bollinger Band but there’s still not much of a reason to expect that it would do that just yet so you just got to be patient when you’re looking for this the trend is obviously been bullish and we’ve had the Golden Cross on it as well so really there might be a short to look for soon it’s hard to say if that’s actually just yet I kind of expect there to be something just like with Bitcoin let’s take a look at litecoin as well it’s very similar although it’s reacted a little bit more severely and has it bounced as strongly but honestly these are all looking the same the the key thing though is with these is looking at their Bitcoin ratio which has been absolutely astounding of course aetherium has been out gaining bitcoin on the days that Bitcoin has been gaining percentage-wise so it has gained more versus Bitcoin thus it’s worth more in terms of Bitcoin as it was before and it’s also had a golden cross actually both of them crossed it looks like within a matter of a few days over the 200 so it’s looking really good and it looks like dips might be for buying on aetherium versus Bitcoin and one other one I want to look at is basically tension token because this is one I’ve been looking at for a long time it has not shot up like a lot of the alt coins have but it has had steady growth you can see there’s a pretty consistent line here moving it up something like that you can tell it’s steadily moving up so hopefully it will have its moment like many of the other altcoins where it shot up many many percentage in one day like 20-30 percent or more it actually looks like it might be rounding up to do that again like the other coins appear to be right now but like I said it’s hard to say because they’ve been moving up for quite some time now alright so that’s pretty much does it for the TA I don’t really want to get into it a whole lotta I’ve probably went on a little bit longer than I really 1 or 2 or 8 notes in the video I want to talk about some other things before the end of the video most importantly I want to make sure you all got the giveaway information out there I did want to talk about the ICO for what was it enigma the ng tokens this is something else that it’s also settled with the SEC they had to pay a ton of money and register their tokens as securities and they had a 500,000 dollar penalty they sold their tokens in 2017 and the reason they were deemed securities most likely has to do with the fact that they did not have their main net and you can see here the settlement allows the Enigma team to focus on its actual protocol he said including the launch of its main net last week so they sold tokens on aetherium so that they could fund a project to build a network that didn’t exist and the SEC has been pretty adamant that that means it’s a security if you’re taking money to build something that doesn’t already exist then that is clearly a security is what they’ve said so they definitely did the right move by settling and moving on it says they are looking for legally compliant avenues to swap their aetherium token that they sold for their scrt token from their new network and that’s a little bit interesting that they can’t really do that legally I’m not sure the reason for that but it says they’re lawyers and their legal counsel I should say are looking for that but for the time being our team is not able to proceed which must be very unfortunate for people who bought into those tokens not being able to actually participate on the network that they plan to but probably the biggest news that I’ve seen come out in the recent days is that coinbase is now a principal member of visa which as you might know coinbase actually offers debit cards for its members who are in the UK which the debit card basically allows you to sell your Bitcoin to fund a debit card and make transactions basically with your cryptocurrency so it’s a it’s a card that you have you can use wherever visa is accepted and it converts your Bitcoin or your other cryptocurrency into fiat USD whatever euro and it allows you to transact with that on the visa network so that’s pretty cool but being made a principal member of visa is is especially big deal because it opens up a lot of more opportunities you can say here it offers them the ability to offer additional services but also to operate in more markets and hopefully that means the u.s. because right now I believe bitpay is one of the major ones I think that’s right I don’t use them I’ve looked into it I’m not really a huge fan of it I don’t really trust whoever does it right now but if coinbase were to do it especially being a principal member of Visa I would be much more likely to participate with that and just getting involved with more markets just promotes the actual use of cryptocurrency and blockchain more so that’s generally a good thing for those of us who are looking in the direction and investing in this area because the more it actually has use cases and the more it can actually be converted and used saved until you need to use it as a store of value is something good and one of the other articles that came up that I also agree on is that we don’t really need to worry so much about the end-users right now because the backend of blockchain still really needs to be worked out especially just crypto currencies in general using blockchain to store data really isn’t that big of a concern for most people enterprises can use blockchain just fine now to store data and access their data and there’s not really a whole lot of use cases where it’s much better than a centralized database but for those who do it it’s not a huge deal to access the data from the blockchain once they put it on there what is hard is for end-users to actually participate on a network that isn’t centralized like these enterprise block chains because they need an interface to the system that allows them to interact with that system in a way that is very easy so that they don’t have so much responsibility themselves I know a lot of people have a hard time keeping up with private keys for their particular crypto currencies that they like losing those is a very bad ordeal for many people so coming up with more and more solutions that help people keep control of their coins or their crypto and keep it away from central centralized systems like people storing their coins on an exchange would be good there’s also services that people need to come up with the way that you actually spend or transact with cryptocurrency so obviously needs to be improved it’s a very clumsy process right now it’s not nearly as simple as just swiping a card like with Visa or MasterCard or American Express it’s a little bit more calm alluded than that even with the crypto debit cards I believe you still have to sell your Bitcoin or tell it to sell your Bitcoin for you I believe is an option when you do that so there is still some effort involved and it is a bit of a hurdle to overcome at first especially for people who don’t understand it but as the general public becomes more aware and learns about these things through more more cycles it should be easier for people to learn but it’s very important for people to create products that are very intuitive so that people don’t have to learn so much but for those early adopters like those of us who are already into these things we are much further ahead on the learning curve so these things that seem simple to us are actually huge roadblocks for people who have no idea about what’s going on now I’ve rambled on a lot in this video but I just wanted to let you all know that I’m back there’s a giveaway I did a little bit of TA talk a little about the news and there is a new video coming out tomorrow and it’s a indicators explained video about the MACD indicator those have been doing better than I’ve expected so I did another one of those I still haven’t had quite enough time to work on some more scripts I’m gonna go through some of the ideas that people have sent me and see if I can’t put something out there that’s useful for the next video in that series so if you have any ideas for indicators you’d like to see explained in that series please leave a comment or if you want to see thing done with pine script in the tutorial series leave a comment to let me know what you’d like to see there but otherwise just check out the tradingview profile where we have the ideas and scripts I haven’t really been posting any ideas because I’ve been so busy I don’t really post a whole lot of ideas anyway but we also have the scripts and of course if you like the videos please like subscribe to the channel if you haven’t already the giveaways will continue hopefully as the channel grows we have had continued growth so I do expect that to continue so the more you watch the videos the more YouTube will recommend it and the more giveaways we can do which I enjoy doing I enjoy getting people involved with Bitcoin and cryptocurrency in general so I really appreciate you watching the video taking the time to sit through about seventeen and a half minutes now me talking but I appreciate it and thank you and have a nice thing [Music]
YouTube Video Description
< br/> #bitcoin #crypto #cryptocurrencies #tradingview
Giveaway URL: https://gleam.io/SJxQZ/bigbits-25-bitcoin-giveaway-feb-2020
News URLS:
-https://www.coindesk.com/ico-project-enigma-settles-sec-charges-over-45m-token-sale
-https://www.coindesk.com/coinbase-becomes-first-pure-crypto-firm-approved-as-visa-principal-member
-https://www.coindesk.com/dont-obsess-over-crypto-end-users-we-still-need-developers-to-build-the-back-end
Website: https://bigbits.io
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Twitter: https://twitter.com/BigBitsIO
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GitHub: https://github.com/BigBitsIO
TradingView: https://www.tradingview.com/u/BigBitsIO
Referrals……
Trade on Coinbase: https://www.coinbase.com/join/johnso_dxz
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Brave Browser: https://brave.com/big406
DISCLAIMER: All my videos are for educational and entertainment purposes only. Nothing in this or any of my videos should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto coins and tokens. Consult with a professional financial advisor before making any financial decisions. Investing in general and particularly with crypto trading especially is risky and has the potential for one to lose most or all of the initial investment. In simple terms, you are responsible for your actions when trading.
