Bitcoin (BTC) Moons To $11K As Pending ETH Transactions Hit 166k Because of DeFi!

published on August 2, 2020

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Check them out link in the description below welcome to another episode of my satoshi's it is july 27 2020 shout out to my man one of the youtube members that is

Wired sparks for the song request ot genesis push it go get the money go get the money that's what we're getting today people it is a green day in the crypto world

And i hope you guys are enjoying that for sure we're going to talk about today a few things one of course being that bitcoin touched that 11 000 very close on some exchanges it did hit 11k

But uh overall we're really really in a great position technically speaking and i'm gonna go over what has occurred over the weekend a technical break and we've been talking about this for about a week and a half

To watch this movement i gave you guys a warning when we broke out of the pinning that was inside this overall long-term pennant that we just actually broke as well so

We're looking good i'm gonna give you some levels where you should be watching to position yourself as a safe catch if things do fall back but i don't think we're going to do that we'll look at the details there here in

A second and also out of you today we're going to look at pending ethereum transactions now reaching 165 000 almost 166 000 to be exact from this massive d5 demand and it is

Clogging up the network we all know that there's been a revival in the demand for ethereum because of this d5 movement it's like a second life for ethereum since the ico boom uh so

We'll take a look at the details on exactly what's happening with the ethereum network being clogged up and lastly i want to talk about the hedera hashgraph now being available on simplex and i'll give you guys a full

Overview of simplex not the herpes no that's the first thing i think of when i hear simplex but no they're an israeli-based global fiat payment processor

Pretty big and now hbar joins the list of the major hitters bitcoin ethereum bitcoin cash xrp and litecoin as a token you can now purchase through their platform so we'll take a quick look at

That all that coming up on today's episode of my two satoshis but before we start if you guys find these types of videos informative make sure you like

Share and subscribe and click that bell to receive more videos like this alright let's take a look at this heat map today we've got bitcoin up almost ten percent look at that ten thousand eight

Hundred thirty six bucks ethereum's up three point eight percent it had his tear well before bitcoin so it's not moving as fast but and over if you take a look at the last

Week and a half bitcoin is definitely underperforming ethereum litecoin up twelve percent to fifty three dollars and ninety two cents eos is up also five point six percent to two dollars and

Eighty six cents finance up as well nineteen dollars and sixty eight cents trading right now um the majors look pretty healthy today i've got a long contract open over on bit yard

For bch and i'm long ethereum on due decks so we're looking good on the levers trades and of course i've got my algo running the bitcoin verse dollar and ethereum versus dollar trades over

There that is also going ham we close out of the bitcoin traders you can see that yelloworange arrow a little prematurely but we are still definitely in our long trade on ethereum

Look at that we got into our long trade last week um at 241 dollars we're now at 322 that is a position as far as percentage gains of 33 that spot 33 percent

Not leveraged so you got to multiply that by however much you're leveraging on you know bit max for example that's what we're trading the algol so we're going to get the money today

That's for show let's take a look at the technicals when it comes to bitcoin um i circled and pointed out that this was a huge move for us at this yellow circle here this breakout was critical

And i also drew a yellow line because i was going to take profit if we breached this point we never did i mean it just bounced off of it perfectly and also

Breached the long term i'm gonna zoom out here for you the long term pin it that is huge news guys i i mean this is really a bullish move for us in the crypto game to see a breach

Above this long-term pennant the way we have uh today so what does this mean well it means something significant because we've breached this area which was the

Last pretty much like v-shape right or upside down v we also breached this point and we breached this point so if we hold these levels guess where we're going we're going for that people and that

Takes us to 12 300 to try to score a point there and then ultimately 13 85 bucks roughly on coinbase is a big area for us to look at this so this is where the market is trying to go

I'm just letting you know we may have some oscillations in between there but ultimately we're one we want to go for this area that's where the market is trying to go

So prepare yourself defines got smack today so really this is an opportunity for you if you're hot in the d5 game to dollar cross average in and uh be prepared for the next wave up

When people take profits from bitcoin they're going to take profits in usd tether of course but also some of these d5 tokens because that's the hot industry right now on cryptos

So that's what i've been doing i bought lend last week at the 29 cents and at 25 cents so i'm dollar cross averaging down so i'm thinking on the way back up i'm gonna make huge gains because when i

Bought it 29 cents it was already down like 30 25 from its highs i believe so great position i like buying on the lows i look for the charge you know people look at

Top gainers or hottest coins no wait and find the list of the the worst performing coin and of course the project has to have some substance i'm not saying just buy anything that's down but you wait for

The down days to buy because you have a quicker return on your investment in that type of scenario so that's where we are with things guys this is crazy though we're having a bang

Out week already starting off strong but let's take a look at this ethereum transaction issue that's going on on the network 165 almost 166 000 pending

Transactions from this massive d5 demand according to data from ether scan pending transactions soared to as high as 165 711 transactions on july 22nd pending transactions refer to requests

To process payments or smart contracts on the ethereum blockchain so look at this this is crazy ethereum network pending transactions chart and this is from july 22nd to july

26 so yesterday so as you can see it's starting to surge back up it was already high but now we're seeing another rise in that delay the simultaneous increase in penny transactions and the median transaction

Fee indicates a spike in demand for ethereum okay it's a problem in the short term a good sign of growth potential for the long term they say the two aforementioned key metrics suggest two

Things first it shows that ethereum blockchain networks users activity is rising and is reflective of the price of ease of course and secondly it indicates that the need for e 20 and

Scaling solutions has become dire i told you guys you better get that 32 eth it's getting more and more expensive i've been telling you guys it's going to get even more expensive you don't want to be waiting around

And paying 30 000 or 20 000 to allocate east for an ethereum 20 no you just don't want to wait that long there's no reason for you to do that it goes on to talk about the verifiable user activity on d5

Protocols carrying more significance than unconfirmed activity on icos the recent spike in demand was caused by legitimate user demand this is very true in the past there were instances

Wherein the ethereum blockchain was swamped with bot transactions that slowed down the network industry experts believe that d5 protocols or projects have a better value proposition than

Icos that emerged several years ago and i have to agree with them there they absolutely do there's real utility going on on the network when it comes to this d5

That to me is not the concern my concern is regulatory risk that's the tailwind that we have to deal with again it's the same concept but in a different way i'm concerned about regulatory risk from the sec coming in and saying hey

These d5s have to be regulated under xyz and then that just slows everything down that causes a a higher barrier to entry for a lot of these d5s because they're not really decentralized

Right we all know that most of them aren't decentralized at all in that manner because there still is a entity behind the project so the sec or any of these other organizations around the globe can start

Going after these companies so we'll have to see what happens uh if they start clamping down on d5 in that manner that's the only thing i see as a headwind for d5 not not that is any of

These scams like we had in ico boom which is a better position to be in i have to admit definitely a better position to be in it goes on to say in the medium term heath 20 appears to be the most

Favorable solution to the recent spike in user activity on ethereum when e 20 launches it would bring ethereum closer to a full pivot the proof of stake consensus algorithm a pos

Algorithm would allow for more efficient processing of data and reduce the likelihood of network clause as it eliminates miners on the network yeah this is true i'm not gonna say i'm a advocate of ethereum 20 to that

Extent um i like things that are kind of outside the box outside the block right there right example it's not a blockchain it's a hashgraph

Just to be to kind of just to me spread your risk and have a well-balanced portfolio because ultimately every other project is a blockchain

Whether it's done better than others is different consensus algorithms xyz but to have something that's totally in a separate group like a hashgraph with hedera what they're doing i think that

The pendulum is going to swing and it may swing in that direction we'll have to see but yeah that's good to see uh the clog from d5 because that is more demand it shows that there is more demand

For these d5 projects again my only issue and the potential risks that i see is that the regulatory agents may come in and start really slowing this growth up you know they don't like to see regular people get

Rich that easily or that fast i'm trying to tell you and so speaking of hedera we can take a look at that one out of nasdaq it looks like you can now buy hedera

Hashgraph's h-bar token via simplex it says that in a statement simplex said the integration will enable users to buy and sell hbar with a credit or debit card using its global platform simplex is a

European licensed financial institution that provides global fiat infrastructure to enable secure credit card and processing for the crypto industry it already supports a host of cryptocurrencies on its platform

Including bitcoin ethereum bitcoin cash xrp and litecoin their hashgraph launches network in september and has since processed over 200 million transactions worldwide they're really on a

A path now with support from google if you guys don't know they join their governing council which i love you've got companies like boeing and avery denson

Ibm and tata also on the governing board great this is what you got to look for you know i'm not trying to shield i'm just giving you guys a heads up i saw bitcoin early i'm not right all the time of course not but bitcoin was a hit i'm

Looking at hedera now as being that next real big home run and also eos still waiting for that to manifest and mature telos another one i think even has more promising upside than eos just because

Of this small market cap but let's see what happens um just wanted to give you guys an update and i will continue to update you on hedera as i really start to dive deep into the

Community and uh see more and more progress so lastly of course bitcoin price nears 11 thousand for the first time in a year who said bitcoin was boring and stable well we

Know who peter schiff for the past two months bitcoin was trading sideways in between nine and ten thousand and within the last 30 days that ban got even tighter and bitcoin generally stayed below 9 500

It was a period of near historical stability for the coin so much so that finance ceo jokingly said traders had taken to calling bitcoin a stable coin that's funny

That all changed over the weekend of course bitcoin finally managed to break through with this barrier closing around 9 700 bitcoin broke 10 000 per coin on sunday and it just went

On and on from there according to the market analytics speaking to bloomberg if bitcoin maintained this trend and succeeded in moving past 10 500 market which it has the future could be very bright indeed

That price they say remains a resistance band that bitcoin will need to break above to signal the next move to resistance at thirteen thousand eight hundred and that's exactly where i

Have the next marker for bitcoin so let's see what the the day does right we gotta see it close i'm gonna bring this up we gotta see this candle here close this long candle

Close above 10 500 which is around here somewhere around there once we see this candle close today at the end of today that is very good news when we may see a

Small sell off tomorrow's candle on the formation of tomorrow's candle but as long as we stay above here for today which i can't see us retracing 340 350 points today to close back below

Here if we do that is a very bearish sign because that will almost be a shooting star if we wic if we produce a wick like that so um we're looking good so far we'll see what happens

And uh i hope you guys are plugged in and locked and loaded and ready for this wave a lot of the all coins again d5 and such were hit hard today take advantage of that load up not

Financial advice just telling you the strategy i use to be a successful investor and trader make sure you guys like share and subscribe of course and click that bell to receive more videos like this

Shout out to my main man wire sparks one of the youtube members thank you for the additional support he wanted to hear the ot genesis push it song so we're gonna rock out to that if you find this video informative guys make

Sure you like share and subscribe and click that bell to receive more videos like this i'm out of here push it

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