Hey yo, what’s the good word with the daily viewers, who I call the chico army, but if you’re new, you gotta earn your spot You're just a viewer of the tube
My name is Tyler the host of the crypto channel, who some people think they can break, our kingdom wallsyou know how we sidestep attacks, it’s time for Chico Crypto! Well, I know a majority of those who watch this channel, joined the crypto markets, sometime during 2017, the last big bubble or after The experience you have with BITCOIN is a parabolic run, or brutal bear markets with a few massive pamp n damps sprinkled in
it’s hard to be extremely bullish, when the theme has been brutal rug pulls each and every time I was the same way in 2013, when I first joined, part of the parabolic 1200 dollar run, euphoria
but then, I experienced that depression, and brutal bear market Back down to where I bought my first coins, around the 200 dollar mark But I held
now expanding out the chart a bit, there were more than a few times the air got sucked right out of me Just over 1 and a half years after the 1200 dollar peak…July 11th 2015, after hitting 200 dollar lows BTC pumped to 300 bucks, but as we can see it got slammed in a month and by august 23rd, it was just above 200, a decrease of 30 percent
Ya that sucked… Now, expanding out further, after the low, we started movingdoubled in price, pushing up to nearly 400 by November 2015, now 2 years since the high But once again, a rug pull, from 400 down to 300 just days later
a flash crash of 25 percent But by December we were right back past 400 to a peak of about 470 Then another rug pull 2 months later at the end of January 2016, we were back down to 360, a loss of 23 percent
Sideways for a bit, but then by the middle of 2016another big one, BTC pumped to 765 by June, and then shwww pamcrashed down to the 500 dollar level by the beginning of August, just 15 days later This crash was about a 333 percent one So back during this time, I didn’t know BTC would break 1200 again
Each of these rug pulls was a gut punch to the stomach By this last one, I just decided to step away from crypto and bitcointhinking it’s done, 6 months I didn’t even look at the crypto markets, which was a mistake, because…
it jumped right back up past that by the end of the year, and that’s when I knew, it was on like donkey kong diving head first back in And it did, we know what happened to the price, it got back to its peak of near 1200 by January 2017, went parabolic throughout that year hitting a peak of neary 20k And we know the story after… the crashes we have experienced since the last 2017 peak, I know each one feels more & more bleak, but if the 4 year cycles are true, and things will be like the past… right now, we are near the last big crash, before the party starts
Before getting back to the all time high of 1200, we had that significant crash from 765 to 500 bucks, by August 1st 2016 This was 977 days after the November 2013 parabolic peak Since the last peak parabolic peak, around December 15th 2017, we are now 1012 days since Very similar time frameswouldn’t you say? Although, with the most recent crash, from 12400 to about 9900, that is a 20 percent fall, back in August 2016, it was a tad more significant 33 percent What would 13 percent more put us at today?? Down to the 8k levelsDuh Duh Duh…… Will it happen? Well my personal opinion is this Yes eventually we will touch those levels, but not in the meantime…why do I think this?? Number #1Tether USDTgets to operate as normal So, not too many people are following what exactly is going on with that case
let me update you September 8thwe got a court document from AG James, it was requesting that Bitfinex, turn over the requested documents, as the deadline had passed & they hadn’t They wanted to speak with the judge, in a conference regarding this Well this went down on September 17th, and Coindesk covered it in an article titled “Judge Orders Bitfinex to Turn Over Tether Loan Documents (Again)”yup, Judge Cohen overseeing the case said they need to turn them over, but as we can see form the article “Cohen didn’t set a firm deadline for when Bitfinex and Tether would have to produce these documents, leaving that decision to a special referee, but said a deadline would need to be set” Sooo, that is good for Tether and Bitfinex, they put up a fight in court, they appeal appeals, and argue every sentence They are using the justice system, like it was designed, to get themselves the fairest possible trial, which means time, time & more time So I would say, we won’t see anything for the next couple of months…but let’s just for the sake of things, say the worst outcome happens down the road, and Law enforcement plan to seize all or their assets, cash, tethers, bitcoin and all
Do you know how difficult that would be to pull off with an entity like Tether? Their bank accounts are spread all over, the keys for their crypto assets are spread all over & no one knows who holds them, how many people, or where This type of seizure operation would take months of planning and setup aka time Tether and bitfinex once again…have time So, nothing catastrophic within the crypto markets, from USDT in the next few months that’s for sure
So, let me get out my Chico prediction hat & let you into the mind of my thoughts on the future Personally, I think in the stonk market, we are on the cusp of the next “run”the dow recently got back above 29 thousand points
this was close to pre March crash levels I personally think we will surpass that and push into the low 30k range From where we are today, that would be an over 10 percent increase
So the last time we were at the 27k range with the Dow, was December 2019we pushed to above 29k, just over 2 months later, in the beginning of February What happened to BTC during this time? Well BTC ran, from the 7k levels, to above 10k
Soooo, another run from stonks, In my personal opinion will push BTC up I would say the run, if stonks get to that low 30k range by early November, would put BTC in between 14 to 15k And here is where my “next” bull run opinion changes, here is where we will see the significant DUMP, which is going to paralyze those involved since 2017 and after, making them think, it’s over and this is garbage From this range 14 to 15k, we will fall and officially hit the CME Gap, that pesky one at 96k which people are charting right now, saying a hit is imminent
It is, just down the roada dip from 14k to 96k would be a 31 percent drop come sometime in November
That sounds a bit more like it to me But seriously, don’t put your money where my mouth isI’m just a guy who loves crypto and makes videos on the internet
Cheers, I’ll see you next time!
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