So all coins, amc, gme and other top heavily shorted meme coins in the market are taking quite a bit of a dip today, but we're seeing other top cryptocurrencies like bitcoin, going for a bullish ride in this video we're going to be going over the cpi report That was just released earlier today, we're going to be going over some other reports on some bullish factors for bitcoin and we're going to be talking about the moves that you should consider making in this volatile market now in order to come out ahead. Now, as most you guys know, i was away from youtube just because i was over at the bitcoin conference of 2021 in miami florida. If you guys have not yet watched yesterday's video make sure you guys go ahead and do that, because i talked about a little bit of a summary of what i learned. Some of the other influencers and creators that i met and i'm also going to be coming out with a full vlog that i'm working with my editor right now and it was absolutely crazy.

Just a little teaser, a little sneak peek. We went ahead and met kevin o'leary talked to anthony pompliano. We exchanged some numbers, so i'm really excited to come out that video so stay tuned. For that one last thing you guys.

Usually we got our surf shark plug right here, but i got ta mention this. I feel like there's a possibility: youtube went ahead and shadow banned me only because i haven't been uploading as much. I haven't been consistent, as you guys know, before the conference we were doing close to five to seven uploads a week, so i need your help right now. I often don't make a full dedicated section like this, but if you guys want to help youtube push out brian junk just a little bit, i would really appreciate it.

Go ahead and drop a like down below on this video, and you got ta comment. Something commenting helps the algorithm uh. Yesterday we did swol doge back there, if you guys can see mr mr swolldoge uh for this video just comment down your favorite color. That really does help us out and other than that, let's hop into the video go over.

Some of this research reports - and let's talk about the moves that you should make all right, so the total crypto market cap today is at 1.58 trillion dollars or a 0.9 decrease over the last day. This is completely normal, even if we're seeing a little bit of red on the website. This is nothing drastic indeed, just because we saw such a huge increase yesterday with over 10 to 11 in market price movement. What you guys will also notice is that the total crypto market volume over the last 24 hours is at 105 billion, which makes a 18 decrease.

So it looks like right now. People have been chilling ever since we started seeing a little bit of a drastic spike in the price of bitcoin. What you guys will also notice is bitcoin's. Dominance is currently at 43 or an increase of 1 over the day, so bitcoin right now, although it's up 2 you're going to notice a lot of red in the market and with that there's going to be a lot of opportunities.

So here's what i'm going to say i just want to give some valuable nuggets. Real, quick right now. Bitcoin is moving for a couple factors that we're gon na go over in this video, but i also need to emphasize. Whenever bitcoin is making these movements, we oftentimes see some all coins following suit very shortly ahead.

So i would not be surprised if, over the next few days, friday, saturday sunday, which is usually our bloodiest days, we may be seeing a higher price target for some of these all coins that have been trading sideways for the past few weeks. So if you guys have been waiting to enter some of these positions, take a look at some of these all coins. Take a look at the top crypto picks that i've been mentioning on my channel, see if it's a good price entry for you, don't dump your entire money into it. Entire life savings think about good entry points once you do that dollar cost average into some of these investments, because on the red days, that is where you can buy these cryptos on sale.

If you're going long, i'm telling you you're still gon na make money in the long term. Now guys ethereum is currently at twenty four hundred dollars. We have binance coin at 352 dollars, cardano still at a dollar 54 cents, dogecoin at 32 cents, xrp 86 cents, and then we have polka dot 2.67 percent and we're gon na see a lot more red, especially in the last seven days. Oh icp, taking hits left and right i'm just curious on how low icp is going to go because it has just not been having a fun time at all lately.

On top of that, you guys i want to check out some of my other cryptocurrencies, because i have been entering some new positions lately. If you guys are part of my inner circle, you guys know that i did dump a decent amount of money into one crypto that i've been talking about for the past few months. We have cosmos atoms still down 23 in the last week and down 4.69 percent. Today, ave is down 20 for the week or 5.65 for the day and on top of that v chain, down 17 stellar xlm down 19 and then polygon is at a dollar 38 cents or down 5 for this day.

So a lot of you guys who are holding these positions. I know it can definitely seem like you know it's a rough time and it's not a good thing at all, but you got to realize for anyone who is trying to enter the market. Who has that firepower? Who has that income? These are still great buying opportunities to look forward to, because whenever we see market movement, especially with bitcoin starting to do well, all coins usually start picking up very shortly, after all, right guys. So, first things first bitcoin, as you guys can see on your screen right here.

In the last week we had bitcoin hitting that low dipping down and all of a sudden we were having that rip or that recovery and that quick bounce back up. So what we have to relate this to is that why cough accumulation schematic, so what we're seeing right now is right here within this box, where bitcoin has been moving, we're seeing that little bit of a jump. But if we are moving out of phase b into facey, we should expect to see another dip, maybe below 30 000. So this is definitely going to be a scary point just because any time we break new support levels, this means the price of bitcoin can fall.

The good news is, we haven't been breaking 30 thousand dollars, it's been recovering fairly well, it seems like that, has been the foundation of the support levels and, if we're able to finally break out of forty thousand dollars, that's why we're gon na see good news and Hopefully, another ride to new all-time highs, where we were before the crash of may so right now, what i'm expecting to see, hopefully sunday, we're not gon na have too bad of a day, but if we do, you should all be prepared for it mentally and know That it could be coming if sunday, we see another div in the market, that is when, hopefully, we'll start seeing more of an accumulation back out of this hole and back to previous all-time highs of where we are so stay tuned for that right now, in addition To bitcoin recovering its price, we got to talk about the factors that indicate this fundamentally so el salvador. They talked about this legislative. It passed very very quickly. So while i was at the bitcoin conference in miami, that's when we first heard about the president bucale talking about how bitcoin is going to start coming out, they're going to start making this the legal tender for their country and very very quickly.

Yesterday they had officially announced that this is underway, that this has passed and they're gon na start to get things moving, so this is overall really good news. This is really history. That's being made right now now the crypto market is not responding in over exaggeration to what we've seen with a certain individual's tweets of how bitcoin works. But what we're noticing right now is that bitcoin is still green.

We're still seeing a positive remark in an overall red market right now, in addition to that, the president of el salvador went ahead and came out with this tweet. I've just instructed the president of la geo sv, our state-owned geothermal electrical company to put up a plan to offer facilities for bitcoin mining with very cheap 100 clean 100 renewable zero emissions, energy from our volcanoes. This is going to evolve very very fast. It's got 70 000 likes, he shows a little video of the volcano and how they can go ahead and pretty much clean up.

The fud that is with bitcoin, so something i need to mention is that the price of bitcoin started to go down ever since elon musk talked about the concerns that he had with uh bitcoin's energy, how it's not renewable, how it's so bad for the environment. But what we have to realize is that, even before this tweet, fundamentally, nothing has changed with cryptocurrencies and, as we continue to evolve, we're seeing a lot of these other alternatives. These other, i would say, information packets, these real resources, instead of one person, tweeting out what bitcoin may be doing to the environment. So overall, this is really good news.

If this was the main reason why bitcoin dipped down from 60 000 to where we are now, then any solutions, i believe, is gon na point us to the right direction, so we're gon na talk a little bit later on about a graph. This is called the veblen good and i want to talk about exactly the demand curve and where we are with cryptocurrency, because this is a huge reflection and we need one catalyst: we're going to need something. I'm going to talk about the end of the video. That's really gon na start bumping us up and hopefully take us to the moon.

So, in addition to the el salvadoran president's uh remarks on bitcoin becoming legal tender, we also have the cpi index for the united states coming out where we're seeing a 5 increase over the last 12 months. Now, if you don't know what the cpi is here is a brief explanation. Coming directly from the bureau of labor statistics, the consumer price index measures the change in price paid by consumers for goods and services. The cpi reflects spending patterns for each of the two population groups, all urban consumers and urban wage earners and clerical workers.

The all urban consumer group represents about 93 of the total u.s population, and you guys can look more into that. If you still don't know what the cpi is, but this is just basically inflation rates on everyday goods that we're buying. So the reason why we're seeing a five percent increase in the inflation report is because the supply right now is nowhere near the demand. That is continuing to go up since the start of this pandemic, and on top of that we have a ton of added stimulus injected into the government and we're starting to see the effects of that.

Now, if you are into cars, someone like me, i actually had bought a tacoma in 2019 for about one thirty three thousand dollars, even though i've put about fifteen to twenty thousand miles on there, i'm getting a carvana offer right now for thirty five thousand six hundred. Eighty one dollars this means i'm able to get more money back on a vehicle that i spent miles on that i drove around that i kept for about one to two years and right now they are offering more money than i had purchased for back in the Day so we go back into the consumer price index report. You can actually see that used. Cars are going up in price the index for used cars and trucks increased 29, while the index for motor vehicle insurance rose 16, the index for new vehicles rose 3.3 over the past 12 months, its largest 12 month increase since the period ending november 2011..

Now, the reason why we're seeing a lot of this is because of microchips, so you would never expect this, and if you are in the industry, you may have heard of this microchips affect our day-to-day lives and we're having a shortage of this due to the pandemic. So naturally, we're going to see the increase in prices anywhere from toasters to pickup trucks to vehicles. So, just as an example, a large backlog of nearly completed ford, f-150 pickup trucks has piled up in marshalling yards as the vehicle awaits chip based modules that are tied to basic vehicle functions. If you guys are in the car market, you're either going to get a lot of money back for it even right now or you're, going to have to pay a lot of money if you're in the market to buy a new car.

This also relates to the housing market real estate. It's just tough, getting anything for under the msrp price, where you will be paying more because of things like the consumer price index report, the inflation that's going on all the stimulus being added to the government. So what does this mean for crypto? What does this have to do with anything? So anytime? We get a published report of the cpi index and it's not manipulated and the inflation rates aren't being suppressed. We know that oftentimes bitcoin reacts positively to this, because bitcoin is still viewed as that store of value.

It's still looked as a hedge against the inflation which most people have probably heard about, but you never knew exactly what that really meant. So anytime we see inflation going up the price of goods going up or the dollar just losing its value. Usually that's when people start to look at bitcoin as that alternative and say hey. If i'm holding money for five to ten years, screw bonds screw the stock market, let's still keep it into crypto, especially with the price that we're at now.

So the fear and greed index for bitcoin is still fairly high right now, where we are in the extremely fearful category. I want to share with you something really interesting, so this is the veblen effect and if you don't know what this is, that's completely okay. So i can explain it right here: a veblen good is a good for which demand increases as the price increases. So this means, if you're trying to get that luxury handbag if you're trying to get that mama a birkin bag or something you know that if it cost it, you know 500.

You may not want it as much, but if you know that the price of that particular item continues to go up, oftentimes, that's when demand also meets that as well. So we've been seeing cryptocurrency at least this past year. In this bull run meeting the similar effects of the bevelin effect and what that means is, if bitcoin doesn't get any traction if it doesn't have any of that spark or that momentum we're not going to see that huge price increase, because it seems like any time. Bitcoin is a limited asset where it's a commodity, not many people can get or the price of it is going up.

So it deters the most public majority of people from getting this type of investment. Anytime bitcoin starts getting that push up. We break 40 000. We break 50.

60.. That's when that momentum carries up and that's what i want to talk about with the veblen good effect, so usually with most goods. If the price of a good goes up, think about bananas or you're going to grocery store - and you see eggs that are like 15 20 you're not going to often say hey, i want those eggs even more because the price of it goes up. Oftentimes you're buying items when they go on a sale when they go on a discount and that's when the demand naturally meets the item for cryptocurrency.

It looks like we're not experiencing your traditional form of demand for this type of asset. It looks like with most type of investments or luxury items anytime. The price goes up. That's when the demand follows so what we really need to see, especially with bitcoin and other cryptocurrencies, is starting to get that momentum, starting to break these resistance levels and once we're able to do that, and once other institutions start putting more money in.

I do believe that we're going to start seeing some new all-time highs and get back on track for that 100. 000 price target. Now i don't want to be overly ambitious in this video about the price target of where bitcoin may be, just because everything is still up in the air. But if we're talking about bitcoin crypto on a fundamental basis and some of the moves that are fairly easy to predict, just based on all the past trends, we've seen in the history within even just this past, bull run, you'll know that there are still a lot Of opportunities we are still headed in a positive direction and for anyone who says bitcoin is dead, it's over there's no chance.

You just got to take a look at the news. Look at the amount of attention, bitcoin and other cryptocurrencies are getting right now and realize that the adoption of this cannot get stopped now guys during this time. I do recommend keeping your eye out on any of these all coins, especially if they're taking a dip now, because any time we see bitcoin going up and then we see that bitcoin dominance reducing and going into these all coins. That's when we start seeing a bit of a spike, so i wouldn't be surprised if all coins have another rip this year.

If bitcoin continues to go up, all of that money is going to flood back into all coin season. I'm still seeing the demand, i'm still seeing all of these uh rug pull projects getting spammed. In my comment section there is still demand. There are still people very interested in this, and i believe everyone in the world is now warmed up ever since doge.

Ever since everything happening with crypto - and we do have that momentum again - you want to be ready. You want to have your investments loaded in now, but do not put in more than your life savings. If you need your money in right now, i would consider think twice about putting that money into the market. But if you are going long on these positions, i can assure you that it's going to beat out most other indexes in the world right now.

Crypto is still in its much early stages, we're getting more and more good news, and if we ever see any of these larger us-based companies, amazon apple, you name it any of them start to really adapt crypto into their balance sheets and and begin to utilize. It even more, i feel, like we're gon na have one type of catalyst this year that can really start creating that explosion. I do know that there is a lot of speculation that there's still a lot of fear in the market, but as soon as we start breaking these resistance levels, things are going to be right back on track. I'm still going to be here making content, regardless of the price, because whatever happens, there's still a lot of money to be made in this market, so guys.

Thank you all so much again for watching this video, like always, if you have not yet subscribed, make sure you guys do make sure you guys like this video, if you guys have not yet already go ahead and check out the links down below in the description. Weeble two free stocks, one valued up to eighteen hundred fifty dollars. You can also check out block five. You can get up to two hundred fifty dollars using my link down below and on top of that surf shark.

Eighty three percent off three months free, you need to stay protected, use a vpn if you still haven't been doing that. I don't even know what to say at this point: stay protected, tell your family! You got to use a vpn if you're into crypto or any type of internet work or if you just got an internet connection guys. I appreciate you watching a ton of y'all have been asking me: when is inner circle gon na open back up we're planning to open more spots, maybe in the next week or so follow me over on twitter and instagram? So when i do release that information, you will be updated on when that will be. Like always.

Thank you all so much again for watching have a great weekend and hopefully i'll see, y'all soon.