Hey everyone welcome back to another video, so bitcoin had a great week of hitting a high of just over 35 000. However, over the past few days, we've seen the usual weekend pullback with bitcoin, slowly retracing back to 30 000. Now, in this video we'll be going over, the reason bitcoin is having this other pullback, some new twitter threads between elon musk and ceo of twitter, jack dorsey and we'll also be going over some very important crypto news that you need to know about now, guys before We get started with today's episode, don't forget to like the video and check out blockfy, where you can earn up to nine percent apy on your crypto holdings, linked down below in the description. So even today, bitcoin experienced a pullback near 30 000, where it got quickly.

Scooped up within the next few hours and bitcoin's sitting currently at over thirty one thousand seven hundred eighty five dollars now, there's a few reasons for this that we need to talk about in this video on a fundamental level. Over this past week, we had a lot of fun coming from china. The miners, a lot of the hash rate, issues that we're seeing but in terms of the current price of bitcoin we've, been getting a lot of external news on top of the regular treatment of environmental flood that we've seen so before we go into more details of That, let's just take a look at the overall crypto market, with bitcoin still fighting to break 33 000. It looks like right now.

It has brought the overall market down just a tad, with other all coins still following suit of what bitcoin is doing at the time of this recording ethereum is currently under hundred dollars, with cardano still at a dollar twenty five dogecoin at 24 cents and other cryptocurrencies Really, following that minus two to three percent trend now, in the last day, we have had some top winners with celo going up 18, just in the last 24 hours and wave up five percent hedera up. Five percent and harmony won up five percent as well, but in the last week, and not huge of a difference because most crypto currencies are still in the red. So just recently jack, the ceo of twitter and square came out this tweet, the bitcoin development community. Above all else, as more companies and institutions get into the mix, we all want to help protect and spread what makes bitcoin open development so perfect.

This day is focused on education and actions. To do just that elon musk quickly came out with a response saying bi-curious and jack says bizarre lets you and i have a conversation at the event you can share all your curiosities, elon musk said lmfao, omg and jack says: let's have the talk. Elon musk then said for the bit curious very well, then let's do it with a winky face emoji towards the end of the thread. Jack replied with done will set up and with that praying hands.

Emoji - and this is really good news for the overall crypto community and something that we should be taking a focus on just because, if jack gets to have that type of debate where jack was at the bitcoin 2021 conference, we know how involved he is with bitcoin. Just take a look: he literally has hashtag bitcoin in the bio of his description, if we're finally being able to get an opportunity of seeing two of the most influential ceos of our generation have this debate. Whether bitcoin really is bad for the environment, whether or not bitcoin is true with regards to all this environmental, fun and rumors that we constantly get bombarded on a day-to-day basis. This may be the time where we finally see that reversal in trend, because now we're gon na get a lot more clarification and we're gon na get more additional news on why bitcoin is not bad for the environment and why there are a lot of disagreements and Fud shown around so, in addition to other billionaires having fun on twitter, we had anthony pompliano coming out with this.

He says we have made hashtag payment, bitcoin trend in the united states for the second day in a row going through this. We can see that he was actually sending bitcoin over to random people who were commenting on his thread now. Not only does this make a good marketing expense, but this also pushes the narrative and also helps the overall development of bitcoin, because anytime we see this trending. We do get a little bump in the price now.

What we're seeing with bitcoin, especially with the price action now, is that this is the usual saturday sunday market pullback, where every time we go on the weekend, we've experienced cryptocurrency and having a bit of a pullback. Just routinely consistently over the past few months, but on top of that we have been getting more news within our own governments. If you're living in the united states, you might have heard of the bipartisan one trillion dollar infrastructure package gaining esteem. So a growing bipartisan group of lawmakers and the white house haggled over how to finance a roughly one trillion dollar infrastructure proposal awaiting feedback from president biden.

As democrats begin discussions on a separate economic package that could cost up to 6 trillion. So whenever we have more news of further impending inflation awaiting to happen from all this money getting printed in the short-term volatility, we see the prices of whether it's the stock market, the crypto market, experiencing a very quick pullback but oftentimes. This is still very good news in the long term run just because any type of additional money that goes into the government, the us dollar, losing its value. We're gon na find more power in other assets, whether it's digital or physical commodities like precious metals cryptocurrency.

Overall gains more power and more steam whenever we get news just like this, so i won't be surprised to see if this package does get passed as most you guys know with the way the government works, even if we get news that this passes. This is still going to have to go through a flurry of additional steps in order for this to really pass through law and for us to start seeing that money getting printed on top of all the stimulus that has happened over the past year, the debate, whether Or not, inflation is just short term because of all the shortages due to the supply that we've seen is still going to be up for debate. But i highly recommend you guys to stay tuned and stay strapped in your seat, because on the off chance that inflation is not temporary and this is going to be a long term squeeze, you have to be prepared, and you have to know that this is going To really shake up the markets, and this is why you have to be ready for any type of volatility to come. On top of that, in my last video we talked about how, on friday, we're gon na see six billion dollars in bitcoin and ethereum options expiring.

The reason why this wasn't too significant - and we didn't see a huge drastic change in price - was because bitcoin was not able to stay above 40 000 and make these options expire worthless. Now that bitcoin is still hovering just above 31 000. We're really going to need this to stay above 35 000, which is the price target, where we see additional momentum with the price of cryptocurrency bitcoin and pretty much all the all coins following suit. Now, on top of that, you guys we have some exciting news.

Where marvel is finally releasing its first official nft collectible, so marvel entertainment has partnered with digital collectibles platform vv to launch official nfts later this year, vv also works with dc comics, as well as many other entertainment brands. So if you guys have been following this channel since the rise of nfts, you guys will know that vv has always been on our radar alongside ecome, which is another nft token. So here's my prediction on nfts and the overall market vv is not going anywhere. Vv is one of my favorite cryptocurrencies right now, even though we're seeing that dip in price, i believe this is gon na, be a good opportunity.

If you plan on going along with any investment granted, the nft market was really not ready for all the hype that we saw. It was a lot of speculation and then a lot of fast euphoric high, which eventually leads to a smaller bubble. Popping like we experienced earlier this year, but with this, if you are trying to make an investment and if you do believe there is a future with digital assets. This is really something that you need to take a look at and you can download the vv app because, overall, it's still a really good opportunity to pick up these nfts in case you're, trying to sell them or flip them later down.

The road and big opportunities are created in spaces in markets and industries where there really isn't too much hype behind it. Now, before we close out this video, we do need to go back to our wyckoff accumulation schematic just because right now, we've still been seeing a lot of volatility and a lot of sideways action. So if we still are in the middle section of facee right here and cryptocurrency dips back down to where it is at right now, 31 000, we should be seeing a good start to the week. So if at any time throughout this next week, that's coming up.

If we're still hitting 35 36 or 38 000, i would say we're still right on track, but before we even get to phase d, which is really where a lot of the magic happens now, as most you guys know, even with most charts that we're seeing it's Going to take a little bit of time for that volume to accumulate for us to get to that phase in time, even right now, with the crypto market, we're still seeing a fairly high fear index for the overall bitcoin price. So, just in the past few months, anytime bitcoin has broken the support levels. We know that it quickly gets scooped up, which is a really good sign. We haven't seen bitcoin chilling around anywhere in the 20 000 range and we have still been consolidating in 30 000, which puts us in place for that wyckoff schematic.

I think it's way too early to call this a bear market, even though we have been consolidating and on the optimistic side. I still want to air that we have a lot of opportunity to spring out of here and get back to at least some of the prices that we saw earlier this year. Now, it's going to take a lot more news. It's going to take a little bit more time.

It's going to take some more additional volume, but based on the us government, printing, additional money, we're seeing some more good news with partnerships getting lined up with what we discussed. Mclaren mlb and now even marvel entertainment going into the nft industry. All this correlates back into cryptocurrency and i believe it is still too early to declare that this is going to be a full-on bear market. Now guys, i'm really excited to see what's gon na happen, because we're slowly entering the month of july and hopefully, as we approach july into august, we're gon na be seeing that fire action.

We need a start getting lifted off again. So thank you all. So much again for watching today's video, don't forget to comment the secret passphrase for this video. That's going to be a backpack comment that down below so i know you made it all the way till the very end.

Like usual, you guys don't forget to check out the links down below in the description block by you, get an extra little bonus by using my link down below. If you don't have a vpn service at all check out surf shark three months, free 83 off using my link down below in the description and on top of that weeble, you can get two free stocks where you can trade, both crypto and stocks, one valued potentially Up to eighteen hundred fifty dollars, thank you so much again for watching have a great day and until next time, peace out.