hey welcome back everybody to altcoin daily we have a lot to talk about in today's video
first and foremost we need to talk about what the hell is going on with the price what's happening
with bitcoin right now it seems scary right and there's different levels that bitcoin has chances
of hitting of course nobody knows the future not financial advice but if you want to be a part of
a channel that releases daily content make sure you subscribe to the channel news opinion analysis
that's what we do here let's get started bitcoin is in a critical price zone right now bitcoin is
actually dipped below forty thousand dollars to thirty eight thousand 000 and further losses are
in sight further losses are possible we'll talk about it right now bitcoin is sitting at critical
support and if it breaks the support well let's talk about how much farther bitcoin could go down
bitcoin appears to be in trouble as most of its price action is driven by the futures market
now right now bitcoin is at 38 000 i know probably a lot of people bought bitcoin at 40 or 50 or
maybe even 60 thousand dollars i would think very few people got bitcoin below 35 000 you'll have
to let me know in the comments below let's talk about where bitcoin could go in the short term
first of all key takeaways bitcoin hit a low of 38 000 on february 20th further selling pressure
could push the price down to 37 000 or even 33 500 this support level must hold to avoid a sell-off
of lower lows so let's talk about this bitcoin has actually already fallen lower it actually
touched the 37 000 support you can see this here it bounced off the yellow still at thirty eight
thousand today if it falls below the yellow if it falls below thirty seven thousand dollars
thirty three thousand five hundred is on the table now something not mentioned in
the article i believe that we do still have plenty of support at 29 30 31 000 where we have so much
price history and where it was bouncing off of back here and back here however if we fall below
29 000 my worst case scenario is 20 000 bitcoin it is at this point actually 20 000 to 25
000 where i believe last cycles buyers will step in and buy bitcoin in a big way not to mention
plenty of other people who are just getting into bitcoin this year including institutions
i think it's very unlikely bitcoin hits this level i think it's damn near impossible bitcoin ever
goes below 20 000 again let me tell you why and before we get to that i do want to remind you 10
off the biggest bitcoin conference of the year use our code altcoin daily hang out with us in miami a
lot of big people speak at this event a lot of your favorite crypto people attend this event
since it is the biggest one in the world and in america april 6th through 9th bitcoin miami beach
education celebration hyper bitcoinization 10 off if you use the code altcoin daily hang out with us
in miami i hope to see you there now why do i say it's damn near impossible bitcoin ever falls below
twenty thousand dollars again well let's take a look at the 200 week moving average throughout
all of bitcoin's history where is it right now right now it is just about twenty thousand dollars
and taking a look back at bitcoin's history it almost never hits this moving average actually
hitting this moving average is a good indication to buy this defines the lows in the bear market
barely ever going below it just a hair below it during the covid liquidity crisis maybe a hair
below it back here in 2015 but generally speaking bitcoin does not fall below this strong strong
whopping support and that's why i think bitcoin never falls below twenty thousand dollars again
let me know if you agree with my analysis let me know if you disagree with my analysis
and for me let me just tell you how i think about it is it possible that bitcoin gets to thirty
seven thousand thirty three thousand even twenty thousand is that possible yeah it's possible
however i believe we're closer to the local lows than we are to the eventual top let me show you
what i'm talking about do you think it's possible that bitcoin hits one hundred thousand dollars
i think that's likely i think that's possible do you think it's possible bitcoin hits two hundred
thousand dollars i think it's likely i think it's possible do you think it's possible that bitcoin
hits 300 000 in the next five to 10 years yeah i think that's likely i think that's possible
so now all of a sudden we're talking about a worst case scenario down here but more likely
probably somewhere around here for how much farther it could fall and then the eventual
scenario of bitcoin hitting any of these three marks and that's why i'm still invested that's why
i'm still bullish just to put a pin in this if you buy and hold bitcoin historically speaking that is
a profitable winning strategy right now bitcoin has been profitable for people who buy and hold
92.6 of the time if you believe in bitcoin like me eventually these red peaks will turn green
just like they have here here and so many times in the past let's move forward hugely bullish on
gaming hugely bullish on metaverse hugely bullish on dows so let's talk about it ftx to roll out
cryptocurrency services for game publishers cryptocurrency exchange ftx has announced
the launch of its own gaming unit check out the details guys crypto exchange ftx u.s affiliate
has announced the launch of a gaming unit called ftx gaming these are little green flags
that help point me to where the future is heading quote we are launching ftx gaming because we see
games as an exciting use case for crypto there are 2 billion plus gamers in the world who have played
with and collected digital items and now they can also own them ftx gaming will launch gaming tokens
offer nft support and is already set to hire software engineers as early as this month remember
just three months ago ftx announced it would be co-investing alongside lightspeed venture partners
and salon adventures 100 million into crypto gaming projects recall again amy wu previously
a partner at lightspeed also recently joined the cryptocurrency exchange ftx to lead ftx's new 2
billion web 3 venture fund at the time wu hinted at a white label solution for game publishers to
integrate various crypto components this is this seems to be what she was hinting at some of it
quote we can provide all of that white label for the largest gaming companies in the world and
new indie studios they're looking for a turnkey solution we're super excited to be a major player
in providing and being a technology vendor for the gaming industry the launch of ftx gaming
and its crypto as a service platform appears to be precisely what wu was referring to this news comes
at a time when big players in the world of gaming continue to hunt down the best ways to enter the
cryptocurrency space hugely bullish on gaming i think we are pre the mainstream boom of play to
earn and blockchain games like 2021 nfts really went mainstream in 2021 and i'm still bullish on
nfts but i believe we are still pre mainstream boom for crypto gaming actually infinity was
proof of concept there will be others also bullish on the metaverse and how can you not be
cryptocurrency is a nascent industry exploding with people trying to get in from virtual makeup
to digital hamburgers some of the biggest brands in the world are looking to cement their web
3 status let's just off the top of our heads what are the brands we've been seeing for the past year
mcdonald's walmart l'oreal facebook gucci major league baseball nfl nba nike adidas ralph lauren
disney they are getting into the metaverse the metaverse is going to get bigger
you can understand that let's talk about taos we're still very early with thousands
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set up an account take advantage of this let me know if you did a dao is trying to buy the nfl's
denver broncos for 4 billion from attempting to buy the us constitution to super bowl ads
dows have been trying to spend big now according to cnbc one is trying to buy the denver broncos
a dao a decentralized autonomous organization is one of crypto's latest buzzwords and refers to a
group of people who come together to raise funds for a common mission in this case the mission is
to buy an american football franchise but the possibilities are myriad quote we know that
it sounds a bit crazy but it's also a bit badass sean o'brien who is spearheading the dao told cnbc
the purpose essentially is to establish an infrastructure so that fans from all walks
of life can be owners of the denver broncos the dao dubbed by the broncos dao will need to hit the
broncos 4 billion valuation mark to be successful and they actually do have support from the denver
governor which is cool so there's so much going on in cryptocurrency guys i'm still bullish i
believe that where bitcoin is right now there's accumulation going on i believe accumulation is
going on for a lot of the blue chip coins and like i said i'm bullish on metaverse gaming
taos bitcoin ethereum lfg subscribe to the channel like the video see you tomorrow