So i just got back from the bitcoin conference in miami and let me tell you i was not disappointed at all progressive ldk. We have a very urgent announcement. All right, i i don't know, what's going on by the way, guys i'm not sure, what's more funny about that clip the speed at which this guy ripped his pants off or at how quick he got carried off the stage regardless. There's a lot to go over in this video and to begin we're, seeing a wonderful market bounce in addition to a ton of bullish news that has happened over this past week.

Also, since we haven't posted a new video in a while i'm gon na. First, do a full recap of the events from the bitcoin 2021 conference and everything that i learned that i wanted to share with you today. So to begin for anyone who didn't know the bitcoin 2021 conference is the largest bitcoin event in the world. This event took place at the wynwood in southern florida, and i can tell you it was just as hot, just as sticky and just as humid, alongside the 12 000 plus people clustered in one area.

Although bitcoin's price fluctuated quite a bit, it didn't seem to impact the vibes of the conference at all. My favorite part of bitcoin 2021 was being able to network with some high-level entrepreneurs, crypto enthusiasts and check out some of the nft art that they had around. Since the start of this pandemic, a lot of my research has been just consuming material from a computer screen, but ever since, going to this conference, it really made me appreciate, learning things in person, seeing some of the speakers in real life and having a chance to Communicate and have these type of in-depth conversations about cryptocurrency and really realize how much different it is than to just traditionally sit in my seat in my office and consume a lot of this material. Needless to say, this conference had a lot of whales.

People who had a lot of money and generally most people that were older, i would estimate from what i've seen the demographic was about 80 men with most people in their 30s and what i enjoyed the most about being at this conference. Was this simply just experiencing bitcoin's impact in person, the branding of bitcoin in almost every corner of the conference, to the collaborations with established companies like playboy and the diverse compassionate group of bitcoin enthusiasts? The main lesson that i got from all this is that crypto will continue to take over the industry and revolutionize the world. This conference showed me that crypto has the community. It has the support.

It has the vision and no matter how much fun gets published out in the world. This conference truly solidified, my hope about the future of where bitcoin and cryptocurrency is headed. Now i had an incredible time with a group of amazing people that i met through youtube. I ran into a ton of subscribers, which was also amazing, and i look forward to coming back to the conference next year as well.

I haven't uploaded a vlog in over a few years, so i'm really excited to share with you a project that my editor and i are working on now with all that being said, though, before we hop into my computer, you all know the drill surf shark 83 Off three months free using my link down below and let's get started, all right guys. So the global crypto market cap is at 1.6 trillion dollars or up 10.23 increase over the last day. Now the market volume is down 5.5, but bitcoin's dominance is currently going up at 1.28, so this is perfectly normal and to be expected just because we're seeing that rush of volume, the price action of bitcoin returning back up over 14 in just the last day. So yesterday, if you guys have been following along, we saw a pretty red day in the market.

A lot of people were freaking out. People were saying this is the start of the crypto winter. We don't know what to do next. This is it.

This is the end, and even at yesterday we saw a drastic drop of bitcoin going down nearly to 31 000 and even less than that on certain exchanges as well. Today, we've been having an overall green day with another pullback earlier in the evening of last night, with a good upward trend now of where bitcoin is sitting at 36 512. If we also go back guys in the past week or so, bitcoin was nearing its all-time high of this past week at nearly thirty nine thousand dollars. It looks like right now we are on track of that, but we do need to go over a few things.

Like the wyckoff theory and seeing exactly where we are in terms of the distribution where we will cover that in later of this episode, but first, let's go over some additional crypto market prices and some of the cryptocurrencies that i'm taking a look at for this week. Now ethereum right now is up 7.9, but, as you can see, they're still down 6.21, we really need ethereum to hit those resistance levels of three thousand dollars, so we can start breaking and returning back to new all-time highs. It's gon na help a lot when bitcoin does go back to forty thousand dollars and for the past few weeks we have been trading very sideways and hopefully we're gon na be able to break out of this consolidation phase and get back to our old all-time highs. Now, right now, binance coin is up 10 for the day.

Cardano is up 8 for the day at a dollar, 60 cents, dogecoin 34 cents today or up 8 anytime doge goes under 30 cents. I do believe that is a buying opportunity, even with this coin. Just because of the social demand that we're seeing this, especially on the side with elon musk followers and additional people who are brand new to cryptocurrency we're seeing xrp going up seven percent for the day. But as you can tell for the week, we are still down significantly for most cryptocurrencies.

What you guys will also notice is that other stable coins in the market right now are continuing to climb where the market cap is increasing, as people continue to transfer their other cryptocurrencies into some of these stable coins. Just in case, we do see another future dip going down. Solana is actually up doing very well compared to most other cryptocurrencies and they're up 21 this week or up 10 today as well going down. Polygon is currently at a dollar 51 cents up 8.79 or still down 17 for the week theta another one of my favorite cryptocurrencies is up 16 in the last week and up 9.85 percent.

Now, if you guys scroll down you'll notice that we still have some green winners in the last week compared to some of the dailies that we're seeing today, a reminder to everyone is that you always want to consider diversifying your crypto portfolio for times like this, whenever Bitcoin or ethereum continue to stay down. There will always be other cryptocurrencies that are beating the wave that are fighting the momentum and are going to be doing well compared to other top crypto coins. For today, the top winners are going to be bitcoin, diamond and bitcoin. Gold telcoin kusama curve, algorithm and ravencoin, and if we go into the top winners for this week, we're gon na see a theta fuel at the top bitcoin diamonds.

Still doing well and like i mentioned solana and theta when it comes to the movement that we're seeing with other top cryptocurrencies like bitcoin diamond or bitcoin gold times, there's no real rhyme or reason other than the fact that other people are trying to pump up these Projects, whales are manipulating this price, so it gets the attention of other retail investors, so they can get left hold in the bag. While whales begin to dump this, so i wouldn't expect bitcoin diamond bitcoin gold to be a cryptocurrency. You consider adding in now, because it's just going to continue to go up to the moon. I do believe that we're going to have major price fluctuations in any time.

We see huge increases like this. This is often times when i do not consider enter this position, but i do begin to add it to my watch list. In case we have the right factors or circumstances leading up to a similar parabolic bull movement in a overall bear trend that we've been seeing. So keep your eye out on other cryptocurrencies like this.

Have your own watch list and make sure that anytime we have a cooldown or consolidation period that you consider adding in to those portfolios. Just so, you can stay a little bit more diversified in case the market continues to trade sideways over the next few weeks. Now, just in case you didn't hear el salvador finally announced that they'd be the first country to adopt bitcoin as legal tender. So this is really good news and this is really historic for the overall cryptocurrency market.

I feel like this really hasn't been getting the amount of attention and people have been downplaying really the significance of this event. In this article, they state here, a majority of lawmakers, have approved a proposal from salvadorian president nayabib bukoli allow bitcoin to be used as legal tender in the country alongside the us dollar. The law states that all economic agents shall accept bitcoin as a form of payment. When it is offered by the purchaser of a good or service, it also says that tax payments can now be made in bitcoin.

Bucalee 39 is a right-wing populist who rose to power in 2019, also guys, i'm probably butchering his name so bad. So i apologize for that. He previously said that el salvador would partner with digital finance companies strike to establish the infrastructure required to support the use of bitcoin as an official currency. Giving a currency legal tender status typically means that it can be used by borrowers to repay debts.

It doesn't automatically mean that a person or business is required to accept the currency as payment for goods or services. Now this is really good. Bullish news for the overall bitcoin and cryptocurrency community - and it would be amazing, to see other countries take a step forward in the direction of adopting this for much more further purposes like saying it's a legal tender for that country. What's really interesting to me is that any time we see bullish, bitcoin news, we haven't been seeing a huge increase in price, like we do on the downside, where one individual can come out with a tweet and immediately tank the market right now, because we are still In the early stages and the overall sentiment for cryptocurrencies is still in the red where it is very, very fearful by most individual retail investors.

I believe it's going to take a little bit for this news to really begin circulating across through to the communities. But i would not be surprised in the next week or so if we begin to see some better cryptocurrency movements like bitcoin breaking its all-time high of, hopefully forty thousand dollars before the start of july. Now yesterday, we also got news that the fbi likely exploited sloppy password storage to cease colonial pipeline bitcoin ransom. So if you didn't know, the colonial pipeline incident was the result of what we saw with our high gas prices.

So if you guys were trying to drive around and you live in areas like i did, gas was sold out. I couldn't even fill up my vehicle during that time because of what had happened a few weeks ago, it looks like the fbi was able to track everything down and this i would consider really good news. So a lot of the mainstream media is trying to point crypto in a direction where this is bad. This is terrible.

Fbi was able to breach bitcoin, it's not secure, but this article is really good, because mackenzie here does a good job of pointing out some of the advantages of what we saw and what this means for the overall crypto space. So the fbi's breach of a bitcoin wallet held by cyber criminals who attack colonial pipeline, is all about sloppy storage and not a reflection of a security vulnerability in the digital currency. On monday, the justice department reported a successful mission to retrieve 2.3 million dollars in bitcoin paid by colonial pipeline to ransomware hackers. In april court documents indicated that investigators traced bitcoin transaction records to a digital wallet which they subsequently seized under court order.

Officials were then able to access that wallet with something called a private key or password. Now this is really important to note, because it gives us a better idea that bitcoin was not hacked. It was not entered, it was not illegally seized because they were able to break through to the blockchain and find a security breach or a vulnerability within the actual project. Now, although it's unclear exactly how they were able to find the key, what many people are speculating is that federal investigators who had a warrant to seize this cryptocurrency was able to find the private key password in this situation and they just transferred that amount out.

Now the fbi seizing the colonial bitcoin ransom, i believe, is good news. We did see the market go down whenever this news was first published, and i don't know why that is the case. It was in conjunction with president trump talking about how he thought. Bitcoin is a scam because he is someone who really wants to support the us dollar, but this article right here this is something really important, that i want you all to pay attention to.

One former chairman of the us commodity futures trading commission thinks the fbi breaking into the crypto wallet of a cyber criminal actually sets a good precedent for acceptance of cryptocurrency. It proves that the bitcoin blockchain is not hostile ground for law enforcement said chris. It proves that it is not a perfect tool for criminal activity, they continue to say, despite the common stereotype, there's no data to indicate that criminals disproportionately use cryptocurrencies like bitcoin in fact chain. Analyst estimates that less than one percent of crypto are used for illicit purposes.

In comparison to what we have with the us dollar, where that is used significantly more for illegal activities than what cryptocurrency is stereotypically labeled as now, i have a feeling that we're gon na get much more news later this week with the crypto market, and it seems Like over the past few weeks, we have definitely been getting hit, left and right with elon musk. Now, president trump coming in - and it really seems like there is an agenda. There is a narrative right now where there is continued fud and speculation of what crypto should be, but just keep in mind my fellow people. Just a few months ago, where bitcoin was at over 60 000, the market was in a euphoric high.

Nothing has fundamentally changed with these cryptocurrencies, and it seems like, as news continues to go out. The ones that are highlighted by mainstream media are always going to be the ones that question the integrity of what cryptocurrency is now. What i want to talk to you guys about next was the y cough accumulation study and the reason why i bring this up is because the movement of bitcoin has been following the wyckoff accumulation phase to a t. So right now, i do believe that we are in the phase b of the accumulation phase, so you're going to see a lot of lines, a lot of graphs, a lot of numbers.

I want you to ignore all of that and just to realize two things right here: resistance levels and support lines. So, right now, with yesterday, we consider the support line of 31 000. Being the last amount that we hit with a price of something like bitcoin, we can see that we are on an upward trajectory and right as soon as we hit 31 000. Today we are going back into that accumulation phase.

So, according to this graph, if we are still right on track, we are going to start seeing another pullback with bitcoin. It may go as high as 38 39 000, but we will see another reset to the price before we get into face c phase d and eventually phase e, where we can go back to where we were just in the past few months and begin to retest. The resistance levels of 60 000 or our previous all-time high. So right now, i'm not going to guarantee that we're going to continue to follow the wyckoff accumulation phase.

And if you are looking to enter the market anytime, we do have a dip where bitcoin goes under or even near 30. 000. I do like to dump a little bit more extra additional positions into the market then, but for the next few days or up until the mid-june week, i do believe you should be a little bit more conservative with your investment just because we are still in a Very volatile phase of where bitcoin is headed now no one has an actual crystal ball. No one knows when the time prediction of when this will all get better is, i would say, right now: you really do have four options in the market in order to face, beat and come out on top.

First of all, you can do something called scalping where you can buy oversold positions where, if you see any cryptocurrency in the red as an example icp, i saw that dip even to 80. Just this past week and i'm someone who entered this position right when it ico so as you know, if i'm valuing this cryptocurrency at a much higher rate than what i previously entered, even though i'm going very long on a project like this, you have to realize That there are going to be great deals amidst this time and if you do believe that cryptocurrency fundamentally, nothing has changed. Overall, the market is going to continue to improve especially long term, and you haven't been investing all of your money that you can't afford to lose. Then right now i do believe you're still seeing a great opportunity to pick up cryptocurrencies at this price.

Now. The next option that you have in the movement of cryptocurrencies is to consider shorting these positions. Now i never recommend anyone to short any position. We can just take a look at some of these meme stocks, like amc, gme and any of the ones that are lifting off right now, the danger of shorting any type of position, because infinitely you could take a loss depending on how high that price goes.

But i'm just going to say that if you are very confident that the market is not going to do well and you want to play against all the bowls, you can always consider shorting your positions and something that i would never recommend. But is an option that you can do now. Another option that you have is to consider dollar cost averaging into your investment. If you have a paycheck of say a thousand dollars a month where you only want to invest that into the crypto market, instead of dumping, your money, every single time anytime, you feel like it.

You can consider averaging in that investment every single day or every week's a slow amount, so you can really have that one thousand dollars spread among whatever tip we may be experiencing during this time now. I went ahead and recently posted in our patreon group as well. Some of the moves that i'm making not in the crypto market, but also in the stock market, just to make those short term gains before we begin to see any type of liftoff over in the crypto market. Even though the price of many cryptocurrencies is still fluctuating heavily and we haven't been hitting those all-time highs that we saw just a few months back, i believe there is plenty of opportunity to continue making money in this market now if we begin to see any additional Dips in the market, i'm gon na, say this time and time again do not panic, sell, hold on to your investment and consider cashing out or liquidating your investment when you are either positive or when the market is doing much better than we have seen in the Past few days now guys that was my video right there for a crypto update, hope you guys enjoy this.

I will be coming out with more consistent content and i apologize that i haven't been as active with the whole conference with everything going on in the past week. But if you guys did enjoy this video, like always don't forget, to subscribe, like down below and also comment down below secret phrase, what's the secret phrase, you know what i got y'all. I finally got this thing in the mail. It's swole doge uh just comment down.

Swole doge down below i've, been waiting on this thing for weeks. I don't know where up you know what maybe we're just gon na, maybe we're just gon na leave him back there for now comment down soul doge as that secret end of the video code. Word. Thank you all so much again for watching check out weeble down below two free stocks listed down below in the description surf shark stay protected.

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We've been absolutely sold out for the past few weeks and if you guys want to have an opportunity of joining my inner circle and getting access to some of my private posts, that will be where it is. Thank you all so much again for watching and until next time, peace out.