BITCOIN Dumps! Should You Worry!? NO! Bulls Will Return!

by birtanpublished on August 24, 2020

egg-yolk what is up and right with my people the Chico army and any newbies who I like to call the viewers of the tube my name is Tyler and I'm the host of the crypto channel that keeps it calm cool and collected just like this

Beekeeper under attack but needless to say working the bees the spring because of this is just absurd it's never really this bad but a couple times so I'm glad today thanks for watching so I wanted to show standing

Here in a t-shirt and no protection amongst the flying bees that I'm not in jeopardy this is typical these bees are gentle they're docile and they're not going to come after me unless I try to invade their hive you know how I used to

Be a beekeeper it's time for Chico crypto well I'm sure some of you are like nice keeping the bees and saving the planet and yes back then my bee was honeybees but now my B stands for Bitcoin and the most recent price action

From that be I'm sure the rest of you are like nice because since the low of last week on June 15th fact the 9k support level Bitcoin has pushed up and as of yesterday was looking to push through 9700 on its way to testing that

10k resistance once again now we gotta pull out this chart since of having because the price movements ensign are highly important as we can see since of having a vent Bitcoin has basically bounced in the 10k 9k range for

Basically two months now so when we see long periods of consolidation in a range like this it usually means something is coming a big move up or down and we can see what happened after the 2016 having because Bitcoin once again consolidated

In a range for a similar amount of time after this event four years ago the 2016 having took place on July 6 and as we can see Bitcoin pump-and-dump the two weeks after but then for a month and a half after Bitcoin hung in this

600 to $700 range before the big move and back then it was down from 650 to the low 500s a 20% drop in just a couple days so is the past an indicator of the future well Bitcoin dumped in the next week or

So well here's the thing people back then the miners got their rewards slashed in half and the price didn't increase enough to keep the lights on thus miner started to dip into their Bitcoin reserves I had to start dumping

To keep the lights on and eventually the price took a hit and things are kind of similar this time but different at the same time and we can see this from Bitcoin mining data from bite tree they have a measure called MRI or miners

Rolling inventory which measures the changing Bitcoin inventory levels held by the miners an MRI above 100 percent means miners are selling more than they mined and running down their inventory and conversely an MRI below 100% means

The miners are hoarding bitcoins looking at the value over time one-day MRI is over three hundred and seventy nine percent meaning miners are taking advantage of this daily pump and they're dumping but then over the past

Week MRI is just above 118 percent meaning that miners are slightly dumping and then over the past five and twelve weeks it's just above 101 percent meaning a very very slight dump overall in those time periods from the miners

Besides a fundamental mining data you have speculation abound that warrants another bullish move from the crypto markets two days ago coin desk broke news that PayPal and venmo would be offering bitcoins buying

And selling to their customers and what we know about it is this three sources have stated on the record that PayPal demo will offer direct purchases and sales of crypto assets to consumers and will have in-app crypto wallet

Functionality they're working with multiple exchanges to source liquidity and the service may be available in the next three months of which neither PayPal or bimbo has confirmed or denied so big stuff and it just makes sense to

Me what the crypto markets will do in the mint until we get official word of what they're bringing they will continue to consolidate may be getting close to 10k in the next week but the news from

PayPal and fin mo has been leaked thus their official announcement is coming and when it comes my opinion is bump but there's one coin who could pump more with the official announcement from both PayPal and Vin mode but PayPal more

Cerium remember it says that PayPal demo will have in-app crypto wallet functionality yes it could be just a basic Bitcoin wallet or like cash app not even a wallet just a place where it says you own Bitcoin you actually don't

With cash app they always control it but getting back to PayPal who owns PayPal who bought it in 2002 for a shocking price even back then of 1.5 billion dollars eBay did then in 2018 who decided to join the cerium Enterprise

Alliance eBay did hmm then just a year later PayPal ventures led the 4.2 million dollar funding round for trm labs who are these guys they have created a cryptocurrency risk and compliance platform built by big names

And of course there is PayPal listed on their website now what platform cryptocurrency are they focusing on this PR news article tells us PRM is also building tools that use machine learning and millions of data points to

Automatically detect suspicious activity like money laundering and market manipulation over 20,000 individuals have verified their aetherium address on trm platform making it one of the largest identity networks on aetherium

Aetherium my friends and then lower in the article it gives us more on ethereum PRM recently rolled out its analytic solution globally with trust tokens true USD one of the largest fiat backed stable coins helped trust token better

Drive growth and mitigate risks trust token is using PRM to accurately segment core user groups and identify which exchanges and channels are driving growth and Trust tokens true USD it's built on aetherium now why would the

PayPal back cryptocurrency compliance firm be focusing on a theorem if PayPal wasn't thinking about getting into aetherium that is just my two cents or ether what about VIN mo while they are much more quiet on the crypto front

Trying to find who they are connected to was tough I couldn't find it yet if anyone has the deets drop them in the comments below I've been trying to reward good comments lately with some crypto so I hope I can make it rain if

You can connect the dots now the final thing I would like to talk about in this episode has to do with that aetherium protocol once more and a copycat that is failing to keep up the fake it till you make it scheme tether yeah those nasty

Folks not them they tweeted this PSA On June 29th tether will coordinate with a third party to perform a chain swaps conversion from Tron TRC 22 ERC 20 protocol for a sizable amount of USD T additional details will follow in the

Coming days hether total supply will not change during this process yep they're taking tether off of Tron import Justin Sun is going to lose it or remember that 20 million dollar giveaway from Justin for

Swapping tether omni layer to tether tron well that was all for nothing as the tokens are being removed most likely and that incentive plan was my marketing stunt in my opinion most likely never paid out or the money was just

Circle-jerk among Justin's friends but the beauty of tethers tweet is seeing some of the worst crypto trolls get ret down in the comments you can see the blocks Larry Cermak we owe a suti were sneer looking forward

To the payout of which booty replies laugh out loud can you help me find the bet tweet I forgot the terms and below we can see it's at point three BTC bed but the bet what was it on we can see here Larry said yes I do

USD T on Tron will overtake us DT on aetherium by the end of 2021 deal and OD he is a Tron supporter back in November he called for Tron to flip ethereum after he listened to Justin talked about the Polonia ex acquisition which by the

Way has been a complete and utter failure as we can see Polonia X's trade volume pre Justin acquisition was about 15 million in 24 hour volume they tried to pump that volume up over the next six

Months getting it over to a hundred million on a couple of a cage but that has been deflating sense and now we are right back to where it started around 15 million and 20 for our volume which all this can be confirmed

By checking out Polonia coms alexis site ranking over the past three months down baby down peaking around fifty seven hundred but now down to six thousand six hundred and ninety a twenty two percent Alexa ranking drop in just 90 days so my

Friends the copycat crap it's crap just that in my personal opinion and I can guarantee you you won't see PayPal integrate a Tron wallet at least there is a chance with aetherium and we hear a Chico hopefully connected some of the

Dots Cheers I'll see you next time you

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