Is Bitcoin going to first hit $100,000 or $50,000 with the amount of bulls and Bears in the marketplace I thought we'd Come together and take a look at the Price action to ter to determine if Bitcoin's going in the up direction or Down before we start the video I want to Ask if you haven't already make sure you Smash the Subscribe button down below And welcome back to 99b YouTube channel I'm your host Umar Khan today we're Taking a look at Bitcoin before we even Start the video I want to ask comment Down below do you think Bitcoin is more Bullish or more bearish in the rest of The market typically speaking post bit Coin happening we see a crazy Bitcoin And altcoin rush and then simultaneously Causing meme coins and other coins to Pump as well however this ball run has Been slightly different in terms of we Kind of start off with a mcoin Mania First altcoins haven't really pumped That crazy just yet and bitcoin's kind Of Rocky we anticipated post havening For Bitcoin to absolutely go to the moon But that's not necessarily what we've Seen so far let's go ahead and take a Look at the overall crypto Market we can See we're down 2% on the day terms of Volume we're slightly in the green but We're basically at zero in terms of the Fear and and greed index we're sitting
At a 55 which is actually not too bad We're getting closer and closer to the Greed and that's where we're Anticipating to get into the greedier And greedier markets because that's Obviously going to help the price of Bitcoin and altcoin spawn in terms of Week Bitcoin up almost 10% on the day We're down roughly 2% same with ethereum Up on the week 4% but down on the day Roughly 2% and Bitcoin pretty much not Bitcoin binance coin pretty much same Thing we're seeing this across the board However what the heck is going on with Bitcoin we look on the week guys we Obviously see some 10% gain we see uh Bitcoin reaches 1 billion transaction a Massive Milestone earlier this week on The month we're still down a whopping 133% and then this is interesting as Well cuz Hong Kong approves it ETFs and Hong Kong ETFs go live I want to show You guys this tweet that I posted a Couple of days ago about the whole ETF Thing and what happens okay so uh just Leaving this here and um this is when Bitcoin's us ETF went live right right Around here okay then it kind of dumped A bit or dumped a lot and then continued To move right same thing with the Hong Kong ETF it was here and start to dump Okay now if we go back to this chart Over here and we go to let's just go to The past year okay so H ETF gets
Approved and we see it's kind of trading In a downwards trajectory and if we go Back to this tweet we're looking at here We're somewhere potentially over here Potentially even over here as well I Personally don't think Bitcoin is going To botom lower than 60k right but let's Just say hypothetically speaking we're Going to continue bouncing around up and Down in this in this area in the zone Between 62k and 65k I think overall we Are looking bullish and we could see it Bounce off the way the same thing Happened with the US ETFs and again it's Not just the Bitcoin ETFs uh in in America and Hong Kong that are going Crazy but Bitcoin adoption around the World is going crazy as well with mining Going on and Mining production being Lowered however people are still Creating mining setups as the overall Sentiment is bullish we can see this as Well the B Bitcoin weekly retest is Looking bullish that's good as well Hopefully we do see it going this upward Trend break past 70,000 because a lot of People are anticipating to see Bitcoin Hit $100,000 this bull run okay we can See over on the technicals uh for the One day we're looking a at neutral Moving averages are sitting at the cell And summaries are also sitting in the Neutral in terms of the week we're Sitting more towards the buy as a
Summaries is a buy moving averages are a Strong by and oscillators are in sell so Again a bunch of like um we're seeing Like yeah it's it's it's hard it's hard To see what goes on next for Bitcoin Right when we see on the week 2% on the Month we're down roughly 9% past 6 Months we're up almost 70% which is not Too shabby in terms of news we are Seeing some bullish news as well Bitcoin Has rebound crypto Traders anticipating 10 $100,000 Bitcoin um yes BTC recovers But bears are still in control there's a Lot of news going around but these are There's two articles I want to highlight Specifically this one first okay so Bitcoin rebounds as crypto Traders Anticipate $100,000 the number of active Bitcoin call contracts is significantly Higher than puts indicating a bullish Market sentiment so that's great off the Bat so we are seeing based off of the Calls and puts that we are in a more Bullish sentiment okay Bitcoin rebound Spurs demand for the out out of the Money calls a strike from $70 to $100,000 analysts say that the path of Leas resistance for Bitcoin is on the Higher side Bitcoin renewed price Swinging has options Traders Reconsidering possibility of a Cryptocurrency reaching $100,000 level At some point this year again the Bulls Are taking control right and also this
Right a Donald Trump news okay very Polarizing figure right Trump and the FED could be about could be about to Trigger a $4 trillion bitcoin price boom Uh so the Bitcoin price is trading Around $62,000 per bit bit coin almost 50% since the beginning of the year now Elon Musk issued a stark warning over The collapse of the US dollar former US President um and the Federal Reserve Could help bitcoin price rocket 200,000 Per Bitcoin by 2025 according to the one Analyst giving a crypto uh Cryptocurrency in market capit Capitalization around4 $4 trillion right Again even even on Twitter we're seeing A lot of news that Donald Trump could be A the the caller for crypto we can see Um we see over here just in 800 bill Standard Charter Banks report that Donald Trump presidency would be good For Bitcoin and crypto if that happens That would be great even last time when He was president the real estate market Was doing well we're sitting in a bare Market in a bull market so Trump could Be good for crypto we see breaking 42 430 billion asset manager uh Internationally just reported that 1.2 Billion Bitcoin across 10 ETFs including 1 billion in just Grace scales Bitcoin ETF Wall Street is hungry for Bitcoin That's absolutely massive they're just Buying into Bitcoin right this as well
This is actually interesting Justin Bankrupt FTX plans to overpay all Customers around $15 billion in recovery Cash how much of this will fall back Into Bitcoin now in FTX is case in my Personal opinion the people that were Burned by crypto probably want nothing To do with crypto if they do get any Recovery cash or recovered cash they're Probably going to dump but yeah there's Going to be a good majority who's going To ape into Bitcoin mem coins and also Ethereum right just in Argentina State Owns a company subcity will mine BTC With standard gas and the Serv as Forbes Eventually every country will be mining Bitcoin absolutely massive so again with All this bullish predicament guys I'm Overall very bullish for Bitcoin I think We could easily see Bitcoin hit $100,000 This year a lot of analysts are Predicting we'll see even potentially a $200,000 Bitcoin by 2025 this bull run Is going to be so different than Previous ones I was having chats with Mates as well potentially we might never See a crazy bare Market again for Bitcoin I personally think that Bitcoin Might bottom around 55 I mean it's Possible for it to continue going down But I think with all the money in and if Gold replicates what happen if Bitcoin Replicates what happens with gold we can See Bitcoin at least Bitcoin not the
Entire crypto Market in a whole Different position which is very Interesting if you want to learn more About cryptocurrencies in Bitcoin and Mean coins make sure you smash the Subscribe button down below as we cover These cryptos on a regular basis that Pretty much drops the video until next Time it's your boy Umar peace [Music]