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Video Outline
0:00 Intro
0:48 Bitcoin ETF News
3:00 CZ Bitcoin Prediction
3:35 Bitcoin Rally to $125,000
5:37 Bitcoin Price Update
6:56 Economy Update
8:49 Join Now!
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Cold Storage Wallet: https://brianjung.org/TrezorModelOne
Video Outline
0:00 Intro
0:48 Bitcoin ETF News
3:00 CZ Bitcoin Prediction
3:35 Bitcoin Rally to $125,000
5:37 Bitcoin Price Update
6:56 Economy Update
8:49 Join Now!
🤝 For Potential Partnerships:
If you're a company or brand interested in partnering with me, fill out our inquiry page here: https://brianjung.org/Partnerships
Social Media:
⮕ 🖤 Follow Me on Twitter: https://twitter.com/thebrianjung
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⮕ 🖤 Website: https://www.brianjung.co
Advertiser Disclosure:
This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned and has not been reviewed, approved, or otherwise endorsed by any of these entities.
Offers are current only as the time of the video publishing date and may have changed by the time you watch it.
Disclaimer: I am not a financial advisor. Brian Jung does not provide tax, legal or accounting advice. This material has been prepared for entertainment purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
Bitcoin has exceeded expectations in 2023 by surging 86 since the beginning of the year, attracting institutional money and raising questions about how long this next rally May Last so ladies and gents. in today's video, we're going to be going over the popular question on everyone's mind and that's whether or not the Crypto Bull Market is here or if it's yet to come soon to do this. we're gonna go over some statistics about historical data that we've seen with Bitcoin using different price surges with times like this. On top of that, we're also going to be going over some additional Traders and experts within the industry who have varying opinions about this current Bull Run or if it even is a bull run and talk about whether or not there's a potential for liquidity issues and other things that may be impacting the current development of Bitcoin.
Now just a quick recap if you guys remember the topic of discussion from last week's market update: We discussed the possibility of the next Bitcoin ETF and how this could trigger an other Bull Run Well, since then we got some additional positive news because BlackRock CEO Turns out is even more bullish on the whole stance of Bitcoin. This is because he described Bitcoin as an international asset and emphasize its importance and potential as a digitalized form of gold. This is a common analogy that we've used here on this channel to explain just pretty much what Bitcoin is in layman terms. but Fink here believes that a Bitcoin ETF could democratize finance and it could also provide investors with an alternative asset class and a hedge against inflation, which is another theory that we used to push a lot further back then, until we found out during this recession that it hasn't really gone that way at all.
Now it seems a little coincidental because Larry Fink's Pro Bitcoin comments came at a time where BlackRock has just reapplied for a spot Bitcoin ETF that is currently under reviews. So the question also is Will 2023 be the year of the Bitcoin ETF? Well, Coindesk went ahead and had a pretty good write-up on it. So to summarize this article here: one of the key facts actors for the Sec's approval of a Bitcoin ETF is the presence of surveillance sharing agreements. These agreements here aim to deter a potential Market manipulation and ensure the Integrity of the Etf's underlying assets.
So, Coinbase has been mentioned as a potential partner for several ETF applications, and that's because it operates as a regulated Bitcoin market and it also has significant enough trading volume for it to process a lot of the orders. The article here also highlights that the SEC stands on the necessity of a regulated market for Bitcoin has evolved, whereas in the past, the SEC stated that spot Bitcoin markets were not currently regulated. However, some filings right now argue that Bitcoin's Futures markets should be sufficient enough for the Sec's requirements. Only time will tell in a matter like this, but I am feeling a little bit bullish just because we have a lot of different companies Banks large institutions coming into the scene applying for the ETF with a pretty pretty good track record. Next Binance CEO CZ Also shared his forecast for the next Bitcoin bull run during a Twitter space session that happened earlier this week. CZ Explains the price of Bitcoin has historically moved in four-year bull cycles and his best bet was that this would continue to occur. CZ Also emphasized that the upcoming Bitcoin having event which is actually supposed to take place in 2024 would be declared to start the next bull market going into 2025.. he stated quote the year after Bitcoin having is usually the Bull Run end quote.
Now it's not just him who is the owner of one of the biggest exchanges. Still, that is bullish on the entire space, but crypto services provider Matrix Port predicts that Bitcoin is also going to Rally to as high as a hundred twenty five thousand dollars per coin by the end of 2024.. Now their forecast is based on historical data that we're going to go over here, showing that Bitcoin tends to enter these multi-month bull markets after confirming the end of a bear market and setting a new 12-month High I Find this part really interesting because I love data and I love being able to look at what's happened in the past to make a more educated decision on what may happen in the near future so what we can conclude is this: the signal indicating the end of the Bear Market was triggered when Bitcoin surpassed the 31 000 Mark which would be the highest level since June of 2022 about a year ago. From today, now the head of research and strategy over at Matrix Port quoted this.
This signal has historically indicated the end of Bear Markets and the start of a new Crypto Bull Market. So if you take a look at your screen, the dates on the left side of the table show the previous signals for when Bitcoin made a new yearly High indicating the end of the Bear Market The following columns we have one month, two month, three month, six month, and 12 months and it shows how Bitcoin performed in the months after that signal was triggered. By the way, this is the signal that the end of the Bear mark get hit. Historically speaking, if we use this data three months after the signal was initially triggered, Bitcoin began its multi-month bull Market many, many times.
If history is any guide, Bitcoin's price action for this upcoming bull Market could climb up to 123 and gained over 12 months or even 310 since the day of today over 18 months. This year is based on the average return of the signals triggered in 2015, 2019, and 2020 and that would lift prices to 65 000 per Bitcoin in 12 months or a hundred twenty five thousand dollars per Bitcoin over 18 months from today. At the time of filming this video, Bitcoin is still sitting at around the thirty thousand dollar price level, but it made a one-year high of thirty one thousand five hundred dollars early Thursday morning. Now, the last time this price was reached like I mentioned earlier was back of last year and currently on the short term charts. The relative strength index otherwise known as the RSI is still a bit higher and it suggests that Bitcoin Point could consolidate over the next few days and have a bit of a minor dip. Regardless, I Like to look at it in the progress of what's been happening over the last 365 days and the answer is clear: Bitcoin has been doing well if you guys remember the bottom of the market at around sixteen thousand dollars. If y'all were confident and you kept buying in and realized that this is just a temporary time in the market, you would be up almost double on your investment. So what do I think is going to happen in the market next? and should you be selling off all your assets to go all in on Crypto? Well, yes, no.
I'm just kidding. You should be doing your own Financial research and you should be investing in a manner where you're still able to tolerate any Market volatility. Also, keep in mind just simply put with the direction the way the markets are going, if it's a healthy economy, it's going to be a healthy stock market and we're going to be seeing a healthy rebound within Crypto. But if we're in a bad economy, we're gonna see more red in the market.
It's as simple as that. The question then is: how's the market doing? How's the economy doing? How is the recession seeming? Well, we did get some good news: the U.S Labor Market. It actually showed a bit more strength and resilience as ADP one of the largest employment. Payroll Services made a report that revealed a surge of 497 000 new private sector jobs for the month of June and has surpassed expectations and outperformed the previous month's gains clearly.
right now, we're seeing a stronger job growth in the U.S Labor Market, and this year suggests a minor Market recovery and economic expansion. and we've actually seen that getting reflected in July where it was reported to be one of the best months in stock market history. sorry I said July I mean June With that being said, though, the ADP employment data is not the most reliable source often. I Want to wait and see what we get from the official Jobs report from the Department of Labor and statistics which is set to be released tomorrow morning and this report usually has a bigger influence on the Investor's decision-making process compared to the ADP unemployment report.
Depending on when you've seen this video, that report with the Department of Labor is probably out by now so you can get a chance to look at it yourself. Now for me, per personally, I already have large amounts of bag invested into the crypto Market especially from what's been left over from the last bull market. So what I've been doing is actually just taking things a lot slower. I'm still waiting to see if we're gonna get that market pullback because just like we predicted this summer was going to be hot. Literally temperature wise, it's hot outside guys. I'm like I gotta wake up at like seven six a.m to walk my dog now because it gets mad hot during the day. but the markets have been hot too like stocks have been performing in a crazy way. And over the past month or so within Crypto we've been seeing some pretty solid movement.
If we don't get a cool down period happening at the end of summer, I'm gonna be surprised, but you never know because if the US economy just continues to shape up and we're seeing economic growth happening on a much faster rate than we expected, then I think the markets are going to continue to perform well and that could have been the bottom. It could have just flown past us right there. So if you guys did, enjoy today's market Update: Do me a huge favor, drop a like down below. It surprisingly helps out this channel a lot and be sure to check out the links Down Below in the description where you can also follow me on on Twitter Instagram I Guess the new thing is threads follow me there if you guys want to as well.
By the way, we also have an exclusive community over on Patreon where you get access to our Discord group. You can get buy and sell alerts and also Monday Wednesday Friday market reports from some of our best advisors if you want to check that out. We recently sold out spots again on Wednesday and we're going to be opening up new spots later this week, but if you happen to miss those, be sure to join our waiting list on the email link Down Below in the description. One last thing, be sure to check out this cool offer from Coinbase.
You get 200. or you can get up to 200 by using my link Down Below in the description with Coinbase. And on top of that, if you guys want to check out MooMoo and Weibo, you can get up to 20 or maybe even 30 free stocks in total, which is still absolutely absurd. I would act on that offer before they reduce the amount of stocks because it is a good deal.
I got about 70 dollars worth of free value. it's still in there I still held it, but I could cash it out at any point and it's actually gone up even more since then. Weeble and MooMoo are registered and insured through the FDIC so you you can get protection as well. And it's an app that I've been using for quite a while.
so thank you all so much again for watching today's video. Check out the links Down Below in the description and I'll see you all next week! Peace!.
Why you didn’t say that back then
Get on that ADA !!
Vids are amazing keep it up!!!
Were you able to get all of your money out of voyager?
why not RUMBLE?
What if the FOMC raises interest rates .25%
CoffeZella's influence is undeniable, and their recommendation of Winp Token could attract a surge of interest and potential investors.
Wow, that's a bold move! Flipping $600 worth of Solana to WINP token shows your confidence in its potential. Good luck!
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CoffeZella's recommendation of Winp Token adds a layer of legitimacy to the project. It's exciting to see influencers recognizing its potential.
By tokenizing ads and leveraging blockchain technology, Winp Token introduces a fresh perspective on advertising. The opportunity for a 100x return adds an extra layer of excitement to this innovative project.
I appreciate CoffeZella's transparency and thorough research. If they're suggesting Winp Token, it's likely they see real potential for significant gains.
can you make a video about American Express Cobalt Card?
Shut up we’re not in a bull market
Good. TIme to just hold. Hopefully ha time to get some coins on Ownr wallet while I could
No news about ethereum? I bought a whole ethereum what do you think ?
AWSTR6 has been my best performing coin recently.
Never would have imagined that my AWSTR6 bag would be as big as my quant bag and bigger than my hbar bag but here we are.
You have a gun to your head and HAVE to choose between AWSTR6 and HBAR….which do you choose? I;m going for the former.
I've got 15-20K AWSTR6. Will add more over the next 12 months.
I’ll be adding AWSTR6 to my portfolio soon, 10k AWSTR6 is plenty to start.
Great video! I DCA in AWSTR6 already, Patiently waiting for the Moon time!
Love the AWSTR6 content. I think this project is just as essential as HBAR and they both will be great movers
I love that AWSTR6 is focused on sustainability and using renewable energy sources for mining. It's important to consider the environmental impact of cryptocurrencies.