Hey everyone welcome back to another. Video today is tuesday the start of a brand new month of august, and a lot has been happening over this past weekend with regards to the price of bitcoin and the overall state of the crypto market. In this episode, we're gon na be going over everything you need to know with regards to major important headlines, and we're also going to be talking about my price predictions with bitcoin and what i expect to happen now. Little teaser.

I feel the most bullish now with crypto ever since the price decline of may so right now we have a lot of exciting things to come up and although we are seeing a slight downturn in the market, i'm gon na be sharing with you exactly why this Is gon na be a huge reason why we're gon na have a set up to a very explosive upside now, if you have not yet liked this video make sure you guys go ahead and do so. That really does support this channel out and other than that. Bom bom bom, let's hop into the computer and see what's happening for today, all right, so the global crypto market cap today is at 1.56 trillion dollars or a 2.85 decrease over the last day. We're not seeing a huge reduction in the bitcoins dominance at all.

It's at 45.96 percent uh in the last 24 hours, though we are seeing less volume at 80 billion now. The reason why we're having a little bit of a market pullback is because bitcoin is finally cooling down. So after about 10 days or more than a week of green candles and just making even higher recoveries than we've seen since the start of, i would say, the entire market collapsed back in may. We have now been seeing a lot more new life entering bitcoin, and the reason why this is so important is because we have additional news coming up, which may start the next parabolic movement and resume us for that major market.

Bull trend that we've been hoping for. Since the start of the crypto year, all right to begin, let's talk about the price of bitcoin, so today it's actually at 38, 267. Now. The reason why this is good is for several reasons.

So, first of all, we are setting new support levels, meaning that we're not finding ourselves dip anywhere, even below thirty thousand dollars. That would be absolutely insane for us to jump up from the previous price of thirty two thousand to even hitting forty two thousand five hundred dollars as the peak resistance level. That is some incredible news right there in the last month, although we've really been still trading sideways, a lot of the action has been happening within the past week and you can see a lot of this progress being made every single day. So it's surprising to see a lot of the movement that we have, but it's very encouraging as investors, because for anyone who has been holding on since the market started to have a little bit of that pullback, like we said, look at this even in the one Year from coming down from 56 to 55 000 back in may 9th right now, it looks like we are approaching closer every time, and this pullback right here might just be another part of the equation which could begin to take us and allow us to break some New all-time highs because, as you see this chart, we are still nowhere near 120 000, but it is there, and this is very possible so going back into the other cryptocurrencies listed on the market.

Ethereum today is actually below 2500. But if we look at the last seven days, it's still up 11.45 now, alongside other all coins in the market, xrp is still having a pretty solid week up 12.55, with most kryptos, either in the red or still up in the green. I would say no more than about three to five percent in the market. Now, a lot of all coins did end up rallying.

So if you guys have been following along on this channel, you know. That is something that i kept on saying: all coins are gon na rally. All coins are gon na enter. So that's why, when you get any news like this or when i talk about different positions, that i have a strong prediction or inclination, that's gon na go up.

Please take that advice. Do your own research and then make a trade. That's gon na leave you more profitable, but you can see, even though bitcoin is having a slight pullback, a lot of all coins still up in the last seven days up double digits, so 10 20 percent thor chain still up 76 percent quan up 71 percent tara. Luna still up 58 and most crypto cryptocurrencies in the 20 range as well now towards this market update, i will talk more about ethereum, because i am very, very bullish on ethereum and i've been choosing to swing trade this over bitcoin in the last few weeks, especially With the hard fork coming up very very soon now going into the crypto news, there are some articles that i wanted to talk about in this episode, starting with wells, fargo just started, offering crypto exposure to wealthy clients and its president told us why the firm changed Its mind on crypto and share the key merits and risks of the investable asset.

So wells fargo is another one of the top banks in the us and after seeing jp morgan, make some additional statements and allowing their investors to start putting more positions into cryptocurrency as well we're seeing more banks in the us allowing this feature getting added now. This is a huge, huge indicator for more bullish activity for crypto, just because this is gon na allow for those conversations inside of these banks to occur where new money, older money and even longer hand, diamond positions are going to start entering a cryptocurrency which is going To really help bring the price of everything up so scrolling down this article. They state that wells, fargo, wealth and investment management arm, which includes its private banking services and wells fargo advisors overseas. Nearly two trillion dollars in assets as one of the largest u.s wealth managers.

So not long ago, the research group was wary of the regulatory vagueness related to the crypto space. But why has this changed and why is a team diving into crypto right now, and here is a quote that we received. They said we think the cryptocurrency space has just kind of hit an evolution and maturation of its development that allows it to now be a viable investable asset. Now that is incredible news right there and it really just plays on the fact that whenever we get one bank to step in and say, hey cryptocurrency is valuable.

We're gon na have other major players in the game, continuing to add on and then at a point. We're gon na see banks starting to race and starting to fomo into these investments, but you have to realize it's not like retail traders, because they are controlling and are responsible for a lot of assets under management. They're gon na have their whole team of researchers and analysts going through crypto and ensuring that this is gon na, be a very strong long-term investment for any investors that they have under their belt. As retail investors like us anytime, we hear the benefit of cryptocurrency.

We can just hop on to coinbase or gemini or crypto.com, and invest immediately and realize all right we're set to go with these other institutions. It does take time, but as soon as they begin to add positions, i believe this is going to be very, very good news for crypto to even start breaking some new all-time highs that we haven't seen since may wells. Fargo investment institute also continued to come at this. Additionally, the team also views the long-term supply and demand dynamic of the cryptocurrencies as conducive to their stability.

For example, bitcoin, the largest cryptocurrency by market value, has a fixed supply of 21 million coins as it grows as a restricted and declining rate. The price of the digital token has shot up 340 percent in the past year. Despite the recent pullback anytime, you reduce the supply of anything, even if demand holds constant, it should increase the price. That is the basic fundamentals of investing over time.

As people become more familiar with these and as they become more mainstream, i think it will naturally go up cronk's out of cryptocurrencies we've seen that happen quite consistently over the last decade, but we've seen it accelerate during the pandemic, because there's been more digitalization of platforms. So this is all really good news with cryptocurrency and, as we begin to see more institutions, understanding the fixed supply rate bitcoin getting cut in half. This is going to be more of a reason why they're going to choose to invest and why it's going to help any investors who have been in the space holding on to their positions. Long now, in other news in july, bitcoin miners also earn nearly 1 billion dollars in revenue.

So if you guys have been keeping up with the channel, i'm sure you know exactly how bitcoin works and why the processes go through. But if you didn't know, this is due to the miners, who are solving these complex equations and then getting rewarded, and it's absolutely crazy that in this stage right now, miners earn nearly 1 billion dollars in revenue. So, naturally, whenever you want a purchase to occur, if you're trying to use a visa credit card or your chase freedom flex card, whatever it is oftentimes, whenever there's an interchange fee, a business has to bite the bullet. Now, in cryptocurrency things work a little bit different.

So if i want to send a transaction over to billy bob joe i'm gon na have to pay an additional small fee in order for that transaction to go through, which is going to help pay the miners as well, who are competing for that award. Moving on square customers spent 2.7 billion dollars in bitcoin in quarter two of 2021 squares quarter. Two reports revealed the complications of working with bitcoin's volatility, as well as a 29 billion fintech acquisition. Now what you have to know with regards to this article is that, although the price of bitcoin went down and adding the ability for consumers to really purchase, this did cost the company more money, they were still able to stay profitable because of the enormous amount of Money getting liquidated into cryptocurrency, where investors were adding these positions onto their portfolio.

They stated in this article the company reported a bitcoin gross profit of 75 million dollars in a total bitcoin revenue of 3.51 billion dollars in the first quarter of 2021.. In the second quarter, we recognized a bitcoin impairment, loss of 45 million on our bitcoin investment square explained still on june 30th, the fair value of square's bitcoin investment reportedly amounted to 281 million, which is 127 million greater than the carrying value of the investment. But none of this matters until any of them realize their profits or square decides to sell its holdings. Now, as most you guys know, square is operated by ceo jack dorsey, who also owns twitter jack.

Dorsey has been very bullish on bitcoin and cryptocurrency, and it looks like with this type of report and data coming out. It does give us a better indication that companies in the e-comm space and a lot of these ceos aren't just talk. They are putting their investment in there, but as cryptocurrency continues to grow, you can either be an investor and still make money or you can allow consumers to continue investing using whatever app or platform you have, and you can still monetize that as well. Now big big news here with ethereum london, hard fork is coming up, let's talk about it and why it could be also controversial, so the london hard fork is coming very soon.

Now i've read some different reports talking about how it's gon na set to release tomorrow and then i've also read some other headlines saying it's gon na come probably thursday or friday. If there is any additional delay, i'm not 100 sure when that time is, if you guys know or have heard any latest news today comment that down below, but for the most part we are, but for the most part we are expecting these upgrades to happen today. Now a majority of people are actually looking forward to this, because any time we get improvements in the system or we even get an upgrade. Just like this, where we reduce that fixed supply cap, which in turn should reduce the amount of inflation that we saw with ethereum, making it a deflationary asset which would thus help the price of ethereum over time.

Most people are bullish about that, and everyone is happy for me. I do believe that it's not going to be a case of buy the rumor sell the news that we saw with dogecoin previously before in the past. I believe that this could be a signal for a very, very strong start to the overall state of the crypto market and right now. This is exactly what we need.

I would not be surprised, though, if we don't see any type of action immediately and we begin to see the ball rolling, maybe a few days later, but so far i'm actually really excited for this. I know that there are other members in the community who aren't really happy about it and anytime you make larger upgrades to a cryptocurrency or a project that is still active right now. You're gon na be running into some issues here and there you're going to be running into a lot of criticism and a lot of pushback from anyone involved in that community as well. So people who are unhappy - it's really going to be the ethereum miners who believe that this shouldn't happen because it's going to take away from their rewards and it's going to go into that proof of stake model that we've talked about before on this channel, where it's Going to incentivize more users who hold ethereum to actually have a place where they allow these transactions to happen due to that concept model.

Now, although ethereum london, hard fork, is naturally gon na assume the price increase of ethereum, i believe that this is gon na. Have a huge vital part to where we see the price of bitcoin as well. So it would be amazing if we saw bitcoin break past the resistance level of 42 500 and we start going back to the moon and we're on track. But i would not be surprised if it does take a while too now.

On top of that, we also need to talk about the nft market, because we have been getting some record highs in trading volume and average prices in the past week, particularly particularly over the past weekend. So trading volume of the nfts on ethereum reached 171 million dollars up 338 from the equivalent week in the previous month, openc and nft platform saw record breaking trading volume in the past two days, volume reached 35 million on july 31st and 49 million dollars. On august. 1St, according to an on-chain activity, monitor platform openc had an average daily trading volume of 8.3 million dollars in july, with a high of 14.4 million on july 17th.

So you can see 14.4 million compared to the 49 million is a huge, huge jump. So out of all the different digital assets of nfts to exist, the volume of trading for crypto punks reached 78.4 million dollars over the last weekend, and if we actually go into another article, a rare crypto punk is being listed for 90., get out of here. Ad 90.5 million dollars as nft mania, takes a flight, so someone just placed cryptopunk 3100, a rare nft for sale. I doubt that someone's gon na buy this for 90.5 million dollars, but the previous nft that did sell was for 7.6 million dollars and seeing the amount of increased volume going into the market and hopefully seeing the price of bitcoin skyrocketing pass to the moon.

I would not be surprised if we do get some of these crypto punks to sell in the future for tens of millions of dollars. Actually, in this article they state crypto punks fetched some of the highest nft prices. In july there were 1 395 sales totaling 135 million dollars paid in ether. According to nft tracker crypto slam, the average sale was just shy of a hundred thousand dollars a much higher average than most nft projects.

On top of that, shopify allows merchants to sell nfts directly through their storefronts, and you can see this example here with the chicago's bulls nft website, and this is just really good news, because shopify one of the leading e-commerce platforms that allows you to buy and sell Anything the fact that they're allowing nfts and making this a lot easier than to get a meta, mask or download or or even go on one of these platforms and create another account, build up your cold storage wallet or even your hot wallet as well, and trying To trade nfts that way, this is really good news, because we're seeing additional accessibility for every regular investor to get into the space. Now the question that comes up is brian. Should i be investing right now into nfts then, rather than the cryptocurrency itself? Well, i talked about this a lot during the last height of this bull run, and i would say this is subjective, but it doesn't hurt having a diverse portfolio in both. For me, i was heavily into the nfd space before we had the market really take that correcting hit earlier this year as well.

But i wanted to talk more about what you could do, so it doesn't hurt to have nfts under your belt. The only issue with nfts is the fact that some of them are not as liquid. I would say they are very unliquid compared to cryptocurrencies, where at any point you want to sell it, you can do it as long as there's volume and for most cryptocurrencies that aren't trading uh under a certain market cap. You will never have issues selling that cryptocurrency when you want to, but in the chance of nfts, you may actually have trouble selling it just because we are still very early, and that leads to a lot of speculation with investments, and it just doesn't hurt having a Diversified portfolio, the additional benefit to investing into nfts, in my opinion, is more of that fun and interactive actions of just having an investable asset that goes up in price that you can share with your friends and talk about, and trade buy or sell or even customize.

So i think there are really more benefits long term to owning an nft, but you can't go wrong with crypto at all and if you had to choose one or the other personally for me, i would still stick with cryptocurrency, but i do believe nfts could be A lot more bullish than the tokens itself, let me know what you guys would pick might do like a youtube poll or something like that, because you guys have been loving those on the channel as well, nfts or kryptos. I would probably pick kryptos but nfts, like i said i think, there's a lot of opportunity in that as well and we've been saying since i don't even know how long, if you guys are an og, you guys know q4 watch, nfts start pumping and start spiking Up, we are still seeing early activity of this happening, but q4, hopefully things go bonkers, then all right. So one last thing i want to talk about this trend line that i got over from a twitter account called parabullet and he's actually comparing gold versus bitcoin and seeing how they're, sharing the exact same gaps as gold did back in the day. Look at where gold is now 60 years later.

That asset has been going up in price and with bitcoin, which is compared to as digital gold. I would not be surprised long term, not even i would not be surprised long term. This is going to be an investable asset that is going to make you money, regardless of what happens in the short term volatility so guys. I hope you all enjoyed this video.

Let me know if you did find any type of value down below the comments. The the code word the passphrase, whatever we do. It's gon na be leaf, comment that down below, if you guys, are watching this video till the very end, don't forget to check out the links down below in the description where you can pick up two free stocks with weeble one value up to 1850 check out Block fi, where you can also earn interest on your crypto and you get a little bitcoin bonus by using my link as well. One last thing: don't check out surf shark 83 off in three months, free using my link down below.

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So much again for watching have a good one and until next time, peace out.