TERRIFYING BITCOIN CHART!!!!! IS BTC IN DANGER???

 

FAKE REASON FOR CRASH REVEALED!

Boom shocking like a happy doge day today bitcoin technical sour as the real reason for the bitcoin the dump is revealed stay tuned what's up everyone Randall here from crypto love In today's Blog we're going to be talking about the real reason for the bitcoin dump it has been revealed plus happy dogecoin day to everybody today snickers getting in the move with that and today's video is also sponsored by matrix ai so stay tuned till the end of the video for an exclusive review of them now before we get into it guys like subscribe click the notification bell come join us on Twitter at the crypto love because bitcoin fundamentals are still strong but the technical' is not looking so strong bitcoin has dumped and it got rejected by the four-hour ma-200 something that hasn't happened since way before October this could potentially spell the end for bitcoin if the price keeps going down and breaks out of this bullish megaphone so if bitcoin is to break below around 51 000 yikes watch out now snickers is getting in the swing of things promoting dogecoin and dogeday420 everybody smokes pot and buys dogecoin how about it now as bitcoin price has broken down to the levels that it's at right now below 54 000 is broken below two critical whale clusters willy woods talked about these clusters here where basically he's saying that the 54 000 to 56 thousand dollar area these are big whale clusters well bitcoin is broken below them and may potentially stay below them if it breaks below this 51 000 area that could be pretty surprising now all of this together is very surprising considering that generally in April and May historically very good months for bitcoin now this is from 2014 to 2018. this chart here is actually more pronounced from 2010 to 2018 where April and May are historically very bullish months for bitcoin but so far April has not been a very good month for bitcoin now is this the end of bitcoin as suggested by the pi cycle chart an indicator if we take a look at this we zoom in guess what we just had a flag of the pie cycle top and when that happens historically it's happened back in 2017 here and also 2013 here signaling both of the tops is this a total top for the market is this a local top for the market

I think more likely it's a local top for the market something like what we saw here back in 2013 as opposed to just a one peak top we could potentially have a two peak top happening in the market because if you take a look at the chart we talked about in yesterday's video and you can see a link to that right here on the CBBI dot info website the column talks crypto bitcoin bull run index right now confidence or at the peak is only 72 and as you can see pretty much as bitcoin price goes down the confidence goes down as well that we're at a peak so most likely we're not  at a peak yet now the big question is because there was a lot of suspicions did the massive Chinese power outage cause bitcoin's price to crash because willy woo has been speculating that hey the price crashed exactly when there was a massive power outage caused a massive drop in mining hash rate and the hash rate and the price oftentimes go hand in hand so he's saying here we just saw the single largest one-day drop in mining hash rate since November 2017 the hash rate on the network essentially halved causing mayhem in bitcoin price as it crashed Furthermore, he goes on to point out that uh this is the net transfer from and two exchanges in Binance that nine thousand bitcoin were transferred in before the crash and 20000 transferred out so potentially the person transferred them in sold to a stable the coin here and then as the price crashed bought a bunch more bitcoin and then transferred out 

I wonder if that's the same whale now is that what's going on or is it something even deeper than that because right now right after the price crashed coincidentally china endorses bitcoin investment which is weird why would they do that they've been putting fud into bitcoin for so long but apparently, the Chinese central bank praises bitcoin and stable coins exactly a day after this crash as an investment alternative so speaking at an event uh lee beau the deputy governor of the people's bank of china says we regard bitcoin and stable coin as crypto assets these are investment alternatives further on he goes on to say that they're going to let foreigners use the digital yuan at winter Olympics in 2022. so the Chinese central bank is looking to enable foreign athletes and visitors to use his country's digital currency during the Bayesian Beijing winter Olympics in 2022 according to a top bank officer for the upcoming Beijing winter Olympics we're trying to make the economy available not only to domestic users but also to international athletes and like visitors is this a manipulative ploy by the Chinese central bank government to kind of show they have the upper hand in bitcoin and cryptocurrencies and that's the big question for a lot of the conspiracy theorists out there but potentially the real answer is a lot more straight forward the in this article here it says no bitcoins flash crash wasn't caused by turkey or money laundering or china or any other fund instead of the weekend's rapid price action had its roots in over-leveraged traders and this makes a lot of sense because a lot of people are talking about trading bitcoin on margin and when the hash rate drops that make the price drop suddenly but then all those people who were trading on margin get liquidated because with small changes in the price they can get completely liquidated when they're at 5x 10x 20x 50x leverage and that just causes the cascading effects where the price of bitcoin has to drop as a matter of fact this one event liquidated almost 10 billion dollars you know who profited from that uh buy bit and also all the people who promote buy bit those are the two people who've profited from the 10 billion dollar price crash pretty much everybody else trying to make more bitcoin gets liquidated and they have to start over from zero so as I said this crash right here pretty much caused by margin traders that's the reason for this crash from sixty-five thousand all the way down to fifty thousand dollars a fifteen thousand dollar correction caused by leverage trading now is this a a bad thing well right now the fundamentals are okay but the techniques don't look great I suspect that a lot of institutions are probably buying in they're buying the dip as well as other people buying the dip may be a very smart time to do that for yourself but you have to keep an eye on this if bitcoin breaks below this white line, the bottom of the bullish megaphone has been in since October we might see an even steeper correction and that would verify that we're going to have a double top right here potentially as long as it comes back up you know so that's all about bitcoin today now as I mentioned today's episode is sponsored by matrix a I network and some very cool things that they are doing right now all right one thing that they're doing in this right here they're they have cooperation with the kbci the Korean blockchain institute the first project to build china Korea industrial park together they'll offer ai and blockchain tech support to the projects of the smart city intelligent industry sectors and so on so that's a big thing that they have going on they also have a smart coal mining project they also are involved in a one belt one road project and I think one of the very cool things that they're doing is they're uh aiming to provide the best software and hardware-based solutions for the crypto market so this right here is a sneak peek at the hardware bio wallet from the matrix ai network it's cutting edge tech that scans veins making it more secure than face or fingerprints allowing consumers to store a wide range of crypto assets in the most secure manner currently possible so that's some stuff that they have going on but let's take a look at matrix ai network and see exactly what it is basically it's a high transaction speed blockchain a network that has a whole bunch of other things as well so in terms of the functions they have a few things here so there's manta the man training assistant now man is their native token manta is an auto machine learning a platform built on matrix main net it enables anyone with no technical knowledge in ai to perform machine learning on a matrix node and get the ai models they need then they have manus so the man ai service station so manus is a distributed ai service platform built on matrix main net its functions include ai model training an algorithmic model authentication, algorithmic model the transaction paid access to algorithmic models through api et cetera and they aim to build a distributed ai network where everyone can build share and profit from ai services so as you can see they are very com committed to ai solutions and leveraging blockchain technology to provide ai solutions then there's man art the matrix NFT'S marketplace so man art is a platform dedicated to ai-related NFT's asset generation and authentication has two key elements number one the big threes of ac uh which are computing power data and algorithmic models and two ai art and then manito the man industry tech open platform is an industrial network service platform built on matrix leveraging the high-performance blockchain by incorporating ai big data IoT and blockchain technologies 

It will be a powerful tool for implementing industry 4.0 so they're talking about high-performance blockchain something along with the magnitude of 12 000 transactions per second now man is the universal pass on matrix an I network man tokens are used for rewarding payment and digital asset authentication so with rewarding block generation miners transaction validators and participants in the matrix ecosystem have the privilege to earn a man tokens as a reward for payment from leasing spare computing power to purchasing ai services on matrix ai network everything is paid in man and then digital asset authentication the process of converting computing power algorithmic models or ai artworks into digital assets involved burning a required number of man in the forging of NFT's now the roadmap this is a brand a new roadmap that they have uh starting right now April 2021 with a whole bunch of stuff on there so first coming up in stage one demo version of manus the ai service platform release of watchman upgraded version of blockchain browser release of bank man an upgraded man wallet core network function upgrade on matrix main net for distributed GPU computing then we have some other things coming up so we have stage one upgrade where we have closed beta testing for man an outgrowth make model authentication platform and then we have some really interesting stuff coming up towards delivery so uh they're aiming towards the end of 2021 to have more than 10 ai applications available for commercial use on manus plus a whole bunch more stuff like NFT's trading platform for man art synchronization with file coin distributed storage platform and then further on it goes to expand compete and even into 2022 now the team they have steve Deng the chief ai scientist he's a professor at the school of software and Tsinghua university uh also a lot of other people involved in technology for quite a while and they also have associations contributions and partners now uh if we take a look at the matrix a I token right now trading under nine cents with a the market cap under 20 million dollars so a small-cap potentially has a lot of room for growth if we take a look over the past year it looks like especially in the past month or two really starting to pick up some steam pick up some traction and it can be found in a number of markets including Huobi gate.io and kucoin so that is matrix ai network in a nutshell potentially could be a big small gainer now as I say with all my reviews I do like to give an honest review so a couple things that I noticed that are worthwhile to mention first off their Github repository if we take a look at their Github over the past year there are really only nine contributions in the last year now this is generally not what you see from a very active project so I asked them about this and they said hey because of Covid some things were slowed down quite a bit and they lost some of their development team so potentially that could be a reason for it but if we take a look in 2020 not that many contributions 2019 has a bit more so from 2019 we really haven't had too many contributions but that could potentially be one of the reasons for it another thing that I wanted to mention is the road map here is basically starting from right now so it doesn't really talk about stuff that they've already completed they've been around from 2017, it doesn't really have a list of stuff that they have already completed doesn't really have evidence of completed projects so that's another the thing that I just wanted to point out that I would say are downsides but on the upsides very ambitious project very ambitious stuff for ai and also for the road map so I think that all of that stuff together is looking good for matrix ai like I said this is a sponsored review that uh do your own research and uh check out matrix ai and that is all for today's episode thank you so much for watching thank you to matrix ai network for sponsoring the episode and I will catch you guys later.