Bitcoin is crashing is it time to sell Your bag welcome back to 99b YouTube Channel today we're taking a look at Bitcoin's Price action but also we have A massive Bitcoin giveaway we're giving Away $9,999 to three lucky winners stay tuned To the end of the video to get all the Details to enter for a chance to win Some free Bitcoin but before I start the Video I want to ask if you haven't Already smash subscribe button down Below let's take a look at what's going On with Bitcoin all right so you can see On the chart guys bitcoin's down 1% on The day which actually recovered it was Down a little more earlier today on the Week we're down a whopping 6% but looks Like we're slowly about to re-enter into The green which is good to see on the Month Bitcoin is at 3% so kind of Consolidating in this middle Zone over Here as we can see looks like there's Been some strong resistance at the 61,800 mark because we're seeing again Bounce back right around there and then Also right around here as well so we are Seeing some strong resistance in that 62 Range so hopefully we're not going to Pass down anything below $62,000 as Bitcoin has been really Holding it on guys the Bitcoin happening Is in 16 days away or 16 days to having And this is going to be so massive for
Crypto Community as a whole but also Specifically for Bitcoin let's take a Look at the overall Market though guys We're down 4% bring the market cap down To $2.5 trillion in terms of of the fear Index guys we are slowly creeping back Into fear we're at 70 which is like an All-time low for this month we've been Really tracing with extreme greed and Greed and now we're like entering this This weird Zone over here as we can see On the past month we see a more clear Picture we're like dancing on Extreme Greed entering greed then back into Extreme greed and this is like the Deepest we've got into uh greed which is Kind of scary but I think this is going To reverse very soon I think the fact That we had a red day today it really Pushed a lot of people to sell some of Their positions however guys I would Keep one thing in mind when buying Cryptocurrencies and Bitcoins as a whole A lot of markets have entered the mix Especially ETFs and big money and these Big monies in typical stock market Fashion like to you know we can't say But like they like to control the Markets and I think there could be some Artificial dumping happening here where They might be dumping it before the Happening so they could buy it at the Low now I know this sounds like a lot of Conspiracy theory stuff but this happens
Every day in the stock market uh but Here's the thing I think for Bitcoin Specifically and the crypto Community as A whole we're very bullish right and and We buy the dip I think every time they Trying to control the market and dip Looks like people are coming in buying In it's really holding its ground like I Said on the one month you can see a Clear picture here guys like that's Solid not not not any massive pumps or Not any massive dumps either uh versus The one year obviously we gain 135% and still a lot more room for this Bitcoin to go want look at the charts Guys we're actually looking like this in More detail in last Bitcoin video we're Seeing this was the 2017 uh bull market Versus the 2021 bull market we saw 3x Jump in price and we're anticipating This bull market to also see another 3x In price which would bring Bitcoin to $180,000 is that does that sound too Crazy at at the end of the day guys Anything is possible in the crypto world And obviously it's not Financial advice Let's take a look at the technical Report for the technical analysis and we Can see on the day where the oscillators Are neutral summaries give basically Given us a neutral and moving averages Are also at a neutral and for the week We're seeing buy the moving averages are Suggesting strong buy also are
Suggesting a sell and on the month again We're still in the buy as well looks Like Bitcoin is going to have that Reversal we're slowly going to get out Of that red and re-enter back into green Positioning now mainstream news talking About Bitcoin how the Bitcoin having Could affect network security after the Block review drops to 3.125 Bitcoins Miners could power down their less Efficient machines right in addition to The price concerns questions about Network security and post havening World Remains unanswered there are potential Security risks due to possibility of Smaller miners miners withdrawing from The markets as rewards are haved leading To reduction in hash rates and overall Security it's estimated that 51% of Hashing power within the protocol Architecture may be vulnerable to Attacks however previous happening Events have had minimal impact on Overall network security and mainly Analysts predict a smooth transfer for The network itself and honestly guys Based on my experience as well I think It's going to be smooth transfer you got To be careful these headlines obviously They're trying to get clicks that's how They get paid and they want to have a Sexy title I doubt it's going to affect The security people are going to Continue mining I've actually been
Seeing a lot of Tik tokers a lot of Content creators buying up into getting Into the mining mix as well trying to Make as much money as possible for the Happening but also setting up for post Happening and how they're going to work It out right gold is soaring while Bitcoin and everything else is slumping Here's why stock bonds cryptocurrencies All slump today whilst old gold Continues to remarkably rally within the Six day gains another record high so Essentially gold is pumping up while Bitcoin was coming down and we sometimes See this happen as well guys where one Asset starts to perform exponentially Well with other ases plummet typically Speaking in previous bull markets we Have seen the stock market crash Slightly compared to the crypto Market But I think again same thing like I said In last article they're using Bitcoin For headlines right they're trying to Get clicks they want people to read Their article about gold and again there Are obviously some great points uh not To say not to read this article but Definitely it's it's worth to read However the conclusions coming to that Basically that gold is rising Aid Inflation and people are saying that Gold could also be a good in uh Hedge For inflation uh signs that some Market Participants have underestimated the
Risk of inflation poses to stocks and Bitcoin so having investors taking for Granted the comfortable narrative that Inflation is falling and the FEDS surely Will cut rates another investment class That you may want to look into now this Is interesting Argentina unveils Mandatory registration for Bitcoin and Cryp crypto platforms so basically they Want every centralized exchange and Decentralized exchange to have some sort Of doxy in place obviously this is so You know the tax man can get paid this Is nothing new here now let's talk about The 99b YouTube giveaway how do you get Your free Bitcoin let's take a look so Come over to our Twitter guys that's Where we're releasing all the news the 99 Bitcoin giveaway is live now we're Giving away $9,999 worth of bitcoin Split between three participants Complete these easy three steps follow 9B YouTube HQ retweet this tweet sign up On our website at 99 bitcoins.com and The website is here I'm going to go Ahead and Link it down below as well you Can sign up right on the homepage I'm Going to link it that's pretty much the News for Bitcoin today guys talk about Getting free money talk about winning a Giveaway let's talk about some quick Opportunity I want to bring up and it's A coin we covered on this channel a lot The reason I'm bringing this up guys cuz
This is launching on Doge day which Happens to align very closely to the Bitcoin having this is Dogecoin 20 Dogecoin 20 Launches on Doge day your Last chance to buy at pre-sale prices Guys this coin has raised over $10 Million and you're not going to want to Miss out on this project so I got good Boys sing utilizing smart contracts Powered by ethereum and so much more Than just a memec coin they're also Non-inflationary unlike how Dogecoin has An unlimited Supply this one is going to Have a fixed Supply been featur on ton Of Articles guys they have a solid road Map in place and you're going to get in At this super pre-sale price to really Make a bag guys again who's making the Most money people who bought Bitcoin During the dip who's going to make money On these pre-sale gems people actually Buy in the pre-sale obviously none of This is financial advice however always Do your own research and due diligence But let me know what you think in the Comments section below how do you feel About Bitcoin do you think we're going To re-enter a bare Market is a pump over I think it's just a start but I want to Know what you think in the comment Section below this one pretty much wraps With the video make sure you enter the Giveaway if you want the chance to win Some of that free Bitcoin until next
Time it's your boy Umar [Music] Peace