The Trend is Your Friend Right Now

by birtanpublished on October 1, 2020

the trend is definitely your friend
what's going on everybody it's your boy
Krypto Bobby I hope you were having a
great day great night wherever you're
watching or listening from and the trend
is your friend or right now and
hopefully it'll stay that way and today
I want to talk to you about what's
happening in the Bitcoin crypto currency
market especially if you've checked your
block folio or Delta account in the past
24 hours or really at all in 2019 you're
probably a lot happier than you were in
2018 and I think that there's going to
be a couple interesting kind of
scenarios that you're gonna see here
playing out on the bullish case and on
the bearish case and I want to try to I
guess predict those in some level way
shape or form here and give you a little
bit of insight to help you make your own
decisions but before we get into that
you might be looking at your Delta at
your block folio whatever it might be
wherever you keep track of your
cryptocurrency and you probably think
yourself okay you know bitcoins up five
percent today that's great but I bought
in December 2017 maybe January 2018
maybe I made some stupid plays on alt
coins whatever it might be I just want
to let you know and so does the Wall
Street Journal that you are not alone
and if you are not familiar with
Softbank it's one of the largest
Japanese conglomerates out there and
they have one of the largest venture
capital funds out there with just a ton
a ton a ton of money and the Softbank
founder his son apparently bought a ton
of Bitcoin and I itani mean a lot more
than you and I probably bought together
combined then times that by like ten
thousand but the Softbank founders son
made a massive bet on Bitcoin I don't
have the full article here on Wall
Street Journal because I'm Way too lazy
to pay for a Wall Street Journal account
but lost 130 million dollars on Bitcoin
and I know you're thinking can't lose if
you don't sell when we sold and I would
love to see exactly the trade range of
when he bought and when he sold but just
to make some of you out there feel
better and I mean even myself personally
now you make some good decisions you
make some bad decisions
you're never gonna buy the bottom you're
never gonna sell the top but hey at
least you didn't lose 130 million
the top of Bitcoin and selling close to
the bottom like the Softbank founders
son so hey your life maybe it's not so
bad after all but getting back to what's
happening in the market right now I
think one of the big things that you
want to look at is is yes the crypto
markets are going up but what's leading
the way is it alt coins is it Bitcoin is
Bitcoin outpacing the moves of alt coins
and right now I think what we're seeing
is obviously Bitcoin is making stronger
moves by let's say somewhat low
percentage points against alt coins you
have Bitcoin is up about 5% in the past
24 hours
and according to Masari on chain FX out
of the mid to large cap crypto
currencies the only two that have
outperformed Bitcoin in the past 24
hours or so is tezo's shout out my
tessie's bags almost back to breaking
even hallelujah and verge Wraiths
security privacy protocols things like
that porn up partnerships shout out
Virge but everything else is is lagging
behind Bitcoin in the past 24 hours and
that's one thing that I would definitely
recommend keeping an eye on is kind of
that that flow and when you have the
just overall cryptocurrency market
overall cryptocurrency market cap is
Bitcoin the one leading the way as of
right now it is but if Bitcoin is to
slow down and kind of move sideways for
a while is some of that money that new
money in the market potentially if there
is any new money in the market is some
of that new money going to flow back
into altcoins
and it certainly has over the past few
months there have been a number of
altcoins that have significantly
outperformed Bitcoin and that have been
fantastic investments like B&B like
raven coin like a number of other ones
out there there's been some really hot
alt coins that have you know gone up
multiple hundred percentage points but
where are things right now and also when
you're looking at it if something has
moved up significantly is it time to
cycle that investment out and move into
something else now when I'm looking at
2019 so far it's pretty crazy too to
think about and we look at this column
over here in on chained FX the
year-to-date numbers it has been a very
good year for
a large number of cryptocurrencies if
you take 20 18 out of the picture now
it's funny to look at the juxtaposition
between 2018 and 2019 but it all really
goes to show no it depends on your entry
and it depends on your exit if you got
in at a certain point in time held all
the way down and came back up that's one
thing but if you have been dollar cost
averaging your way in or if you have
been seeing the way Bitcoin has dropped
significantly and seen the way some of
these all coins have dropped
significantly it started deploying
capital in in late 2018 early 2019 you
are probably up quite a bit and when you
do look at some of the returns of these
crypto assets in 2019 like I was talking
about before Raven coins up 382 % engine
up 300 plus percent financed is up 300
percent against USD tezo's is up to 15
back base contention token 200% augur up
180 litecoin is up 160 even Bitcoin
itself if we pop up to Bitcoin to see
what is gone on year-to-date
Bitcoin is up 50 percent year-to-date as
well as aetherium is up 30% year-to-date
at this point in time so what does this
mean for you when you're looking at the
price of Bitcoin being up 50 percent
year-to-date so far a lot of all coins
up 50 plus percent against USD sum up
multiple hundred percent and you're
starting to see news come out you're
starting to see mainstream media picking
up Bitcoin again talking about Bitcoin
again I think you're starting to slowly
see the initial signs of that that
bubbly FOMO feeling that were we're
seeing that we saw in 2017 maybe early
2017 mid 2017 starting to see these you
know technical analysis pieces about
golden crosses and different aspects of
TA that point to extremely bullish
behavior here for the Bitcoin price
you're starting to see a lot of that and
I look at that and I think there's going
to be two kind of separate reactions
here you're gonna have a specific group
of people that is outrageously bullish
and outrageously bullish again you're
now that Bitcoin is up 50% all of a
sudden we're going back to 100k
again that's fine whatever I don't think
that's gonna happen tomorrow I would
love for that to happen I would be very
wealthy person if that did but I'm not
planning on that anytime soon I'm not
you know setting my retirement account
for when Bitcoin hits $100,000 but on
the other end of the spectrum I think
you're also starting to see people that
have either been short for quite some
time and are now getting frustrated that
they're losing on their short positions
or are trying to be contrarian and
imbedding against the trend whether it's
the people that thought got at $3,500
the Bitcoin is going down to 18 hundred
or a thousand dollars or it's just the
people that have been short for quite
some time or people that have played
this bounced up and now are getting a
little skeptical getting a little scared
of what's gonna go on and thinking about
either taking the money off the table or
actually going short you know with with
a margin position whatever it might be
and my personal thoughts on this are so
the trend is your friend in the
cryptocurrency markets kind of until
it's not but it's usually fairly obvious
to see when the trends occur at least
sometimes it is in relative you know
relatively speaking but I don't
necessarily need to play against the
trend right now and I don't see any
points for me that really justify going
short or taking a vast amount of money
off the table now I'm always gonna be
aware of just kind of like macro
occurrences what if they're you know
what if there was some type of a big
regulatory band or something crazy that
happens like that then yes that could
certainly change things but the way
things are going right now I do think
what we're seeing is a very positive and
clear uptrend that is stay relatively
steady relatively slow and I don't
really plan on trying to play against
that I haven't seen I guess for me the
level of gains that I think necessity
with with what crypto is and with what
Bitcoin is now for me I'm not playing it
for you know 50 percent games I'm not
playing it to
that effect I am looking for larger
gains because these for me at least in
the crypto markets are my speculative
bets this is I have money in stock
market I have money my retirement
portfolio I have mining of 401ks all
that good stuff this is my specula bet
this is the money that I have you know
initially invested and have grown in the
crypto markets and I'm looking for large
returns so I am NOT gonna take a vast
amount of money off the table really for
me anytime soon trying to play this
trend to see how it really kind of
shakes out and plays out and for that
I'm not gonna make any massive moves I
think there are still people that are
like hey you know the bottom is not in
this is going to 1800 I would I would
find that very and highly doubtful I
think that's and I made a video about
this I talked about this in a podcast
previously to like there was a lot of
negative sentiment around the crypto
markets in in early 2019 in late 2018
but the work that was being done and you
know you can argue this all you want but
the work that's being done the
infrastructure that's being built out
really is incredible and there is
something to be said about the bear
market how it kind of cleansed out not
all of it but some of the some
of the crappy projects some of them are
just kind of either thrown to the
wayside or they're moving on they're
stopping development they're moving on
to the next hot thing there now there
now they're on weed stocks so they're
selling CBD or whatever stupid thing is
happening but the projects that have
stuck around some of them not all of
them but a good amount of the projects
that have stuck around a good amount of
the companies that have stuck around
have kind of hunkered down and actually
I don't want to do the hashtag build oil
because that's the stupidest thing ever
but they have hunkered down and built
the infrastructure necessary for this
potential next wave of adoption do I
know exactly what is going to get us
that next wave of adoption I have no
clue I don't know if that is kind of the
quota if we're talking about adoption
here is that even is that just the the
price of Bitcoin is that increasing
users is that people spending Bitcoin or
Bitcoin cash or a theory a more like
coin or whatever doesn't matter is that
you know things like moon now where you
can shop with Bitcoin on lightning using
or you know pick
I'm lightning on Amazon through their
Chrome extension which I think looks
pretty cool and I'll probably try and do
a demo this for you guys as well but is
that with people trying out something
like lolly and utilizing that to earn
money back with Bitcoin while shopping
it could be a variety of things but for
me I think that the bear market was
actually well I would have much
preferred it to not happen to my wallet
and I would have just preferred to have
sold all my crypto in January of 2018
yes I would have preferred that I do
think that what kind of the end result
of the bear market was actually a
positive thing for the cryptocurrency
industry because it shook out a lot of
the crap and a lot of the scam eNOS and
there still is scams there still is crap
but people have have kind of developed
into a I would say a smarter version and
these companies have have become smarter
and leaner and more intelligent about
the way that they do things so I remain
pretty positive with that I would love
to hear though your thoughts on what's
happening right now with the market do
you remain very bullish do you think
that we are going to continue a positive
run up here with Bitcoin and other
cryptocurrencies do you think Bitcoin
might slow down money might move down to
you know money might move to other all
coins do you think that Bitcoin crashes
again and all the other alt coins crash
with it we love to hear your thoughts in
the YouTube comments and if you're
listening on the podcast as always hit
me up on Twitter at crypto underscore
Bobby always fantastic to hear your
thoughts thank you so much for your time
crypto Bobby signing out
hope you ever go on pace

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