Bitcoin Bounces Back!! Kathy Wood Still Believes BTC Will Skyrocket to $500,000!!

hey what's up guys it seems like cryptocurrency 
market is bouncing back nicely at least as of   right now in this video we'll take a look at some 
facts why this bull market is not over then katy   would will explain why she still believes bitcoin 
will reach five hundred thousand dollars in the   future let's start with the cryptocurrency market 
bitcoin and the rest of the cryptocurrencies   slowly coming back from death crypto market 
rose to this current 1.8 1.84 trillion dollars   let's get about the two trillion dollars once 
again bitcoin and ethereum dominance stays at the   same level as yesterday 42 and 18 respectively 
as of the time this recording bitcoin went up   to this current price of slightly below 42 000 
just to remind you guys it went down as low as   30 thousand dollars yesterday it bounces back by 
27 not bad at all but of course it's still down by   17 of the week because market cap rose to slightly 
below 800 billion dollars let's get that trillion   bucks once again ethereum had the even bigger 
bounce back yesterday it touched as low as 1 900   and now it's almost at three thousand dollars 
that's a 35 increase in the past 24 hours but just   like everything else is still in red on the week 
it's down by 23 percent binance b b had a decent   bounce back as well it's up by almost 30 percent 
of the day cardano ada the second best performing   asset on the day it's up by 62 percent it also 
positive on the week it's up by 4.4 percent   cardano ed is doing very well in this recent dip 
i feel bad for those weak hands people who panic   sold this dip i cannot say if this is a learning 
experience it seems like people just keep making   the same mistakes over and over again when market 
drops it is unnatural to think rationally emotions   take over and fear of losing money increases and 
people panic sell it's okay to have fear in the   market but you have to be aware of your emotions 
and try to think rationally dodge coin also had   a great pump it's up by 58 of the day and one 
percent on the week the biggest winner on the day   it's a new coin icp it's up by staggering 
71 however it also the biggest loser on the   week it's still down by 42 percent bitcoin cash is 
closing top 10 cryptocurrencies with the mixed day   and week performance elon musk took it to twitter 
yesterday and indicated that tesla has diamonds   hands which means the company has not sold any 
bitcoin then peter mccormick responded are you   referring to bitcoin or dodge coin dude come on 
tasa never bought dogecoin as far as i'm aware it   seems like musk is just trying to put some bandage 
on the wound that he initiated in the first place there is a number of different metrics to check 
if bitcoin price is cheap or expensive and one of   the most popular ones is mare's multiple mirrors 
multiple is simple and straightforward it is the   ratio of bitcoin's current price to 200 days 
moving average 200 day moving average is at   around 40 000 yesterday bitcoin did below that 
price level when it was at 35 000 the ratio was   at 0.89 if bitcoin is below one it means bitcoin 
is very cheap relatively to 200 days performance   current price is slightly over forty thousand 
dollars so right now mars multiple is at around   one which means bitcoin is fairly priced or 
even cheap comparing to 200 day moving average   it usually trades way about 200 day moving 
average let's take a look at this next chart   here we have a dynamic mirror's multiple ratio 
currently it is at round one the median is around   1.2 so it is even cheaper than current median 
historically speaking when the ratio is below   the median mayor's multiple it was the best time 
to buy bitcoin so it's still not too late to stack   some big sets it's 2013 bull market the marriage 
multiple spiked all the way about six in 2017   bull market is by close to four and in 2021 bull 
market is pike close to three right now we're at   one so you guys already know what to do here is 
the representation of bitcoin's price action and   200 day moving average all in one chart last time 
bitcoin dropped below 200 day moving average when   coronavirus slash btc by 50 in one single day if 
you would had bought bitcoin back then you would   be very very happy right now now it is the second 
time with btc briefly dropped below 200-day moving   average today's price is at the similar level as 
200-day moving average so it's still not too late   to stack some sets raul paul posted some very cool 
chart yesterday here is the chart that represents   the first bitcoin cycle that took place in between 
2010 and 2013.

It represented by this blue line   and then we have bitcoin cycle that started in 
early 2017 all the way till current time they   indeed look very in very similar especially the 
last few weeks back then bitcoin spiked to 250   dollars and dropped by 63 percent to 60 bucks 
and then skyrocketed still one thousand dollars   soon after the drop can something similar repeat 
this time well we should wait and see here is the   same chart but it is zoomed in just to remind you 
guys back in 2013 bull market bitcoin generated   additional 20x from that 73 correction to the 
top of the bull market i'm not saying that we   will see another 20x this time but at least the 
continuation of the bull market now let's take a   look at this recent video vacation explains why 
she still believes bitcoin will reach 500 000   then she gives her opinion on environmental 
changes that may come from bitcoin let's take a   look bitcoin i mean you at one point i think back 
in april told dow jones that it could go to about   500 000 do you still hold that target do you still 
think that's where we're headed i i we do i do   yasin el mandra is our uh crypto analyst and and 
uh we we go through soul searching times like this   and and scrape the models and yes our conviction 
is as high the one thing that has changed here   however is the environmental concerns around uh 
bitcoin in particular have uh caused uh people   like elon musk to pull away and say whoa whoa whoa 
let me let me make sure i understand this and uh   we believe that even this is going to change 
because first of all right now uh the percentage   of bitcoin mined with renewables and hydroelectric 
power is quite substantial i think in china it's   over 50 percent in renewables and we also believe 
and we wrote a paper uh in conjunction with square   on this and we're going to have a conference 
about it in july we believe that bitcoin mining   integrated into the distributed grid and by 
that i mean solar roofs power walls in homes   uh utilities merchant power producers uh starting 
to include bitcoin mining in the ecosystem   why would they do that they would do it because 
renewables are intermittent power sources right   weather is it sunny or not wind is it windy or 
not and bitcoin mining could take off if it's   if there's excess energy uh uh from solar being 
loaded into power walls it can be offloaded into   bitcoin mining and the whole ecosystem therefore 
becomes much more economic if this happens we   believe that the the uh adoption of solar is going 
to accelerate dramatically because there's another   profit center associated with it bitcoin mining 
well what happens though in the meantime so here   we are at 35 000 kathy do you think we go much 
lower from here uh you never know how low is   low when a market gets very emotional uh a lot 
of traders see bitcoin uh dropping below the   200-day moving average uh which is which was 
at 40 000.

Uh so traders once that happened   they just dump some just uh dump and run uh i 
think we're in a capitulation phase uh yacine has   a dashboard we were looking at all the indicators 
this morning they are all suggesting that we   are in the capitulation phase which is a really 
great time to buy uh no matter what the asset is   a capitulation phase is buy it's on 
sale now am i saying 35 000 is the low   you know if traders uh and there are a lot of 
speculators in in bitcoin if they are uh running   for the hills just because uh bitcoin has broken 
through a moving average that is important to them   it could continue but all of our indicators are 
saying this is capitulation right now this is the   only asset where you can see exactly who's doing 
what when why and how and all of those metrics   are saying this is a capitulation this is as 
as bad as it got during the corona virus crisis   500 000 is still intact just the time frame was 
not specified she presented a very interesting   concept to help distribute grid of renewable 
energy to mine bitcoin let me know what you   guys think is cathy wood right can we see 
bitcoin 500 000 in the near future leave   your thoughts in the comment section below smash 
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