hey guys welcome back now with October doing exactly opposite of what it's supposed to we are going to be looking at why everything still is right on track even though yes the last 6 months have sucked even though yes crypto appears to be struggling right now yes it may appear crazy right now like this has never happened before however in this video you're going to see that crypto has in fact done this before and many times so we'll be covering the latest price action to decipher what the hell is going on then we'll see where
we're at in the 4year cycle and what may be coming next and then we'll finish with the biggest developments from all around the world in just the past couple of weeks okay so with oober falling flat on its face so far let's check in with the latest price action and see what the the hell is going on so jumping in on the Bitcoin chart looking at the monthly and we're going to try and find out what is going on as we are in October and we were promised a good October and so far it is
negative so the main thing I want to cover here is looking at this on the monthly we can see what's going on really doesn't look that bad Bitcoin has recovered back into the trading range which it's been in for quite some time now if you didn't know historically when the Haring happens prices don't just go bananas right away if you didn't know it's approximately 6 months after the Haring that Bitcoin begins to break out so where are we at well the Haring happened in April so we've got 1 2 3 4 5 and this is
the sixth month so it's very normal that the breakout doesn't come until October and here we are so with it being only the fourth there is still lots to play for and the second thing to point out here is that this bull market may have already started as while everyone is free in and panicking about what's going on right now everyone's probably already forgotten that just two months ago Bitcoin was at $50,000 so this is going to be the key Line in the Sand because if that holds $50,000 then the bull market has in fact
already started Al although it may not feel like it if this now is just a series of higher lows higher highs higher lows higher highs then it actually started 2 months ago so that is the key Line in the Sand when we look at ethereum it's still ethereum at about 2,100 so still that line is held and with salana two months ago it had dropped down to about $110 and it's now back into its trading range so the bull market may have already started 2 months ago and finally the most Savvy of us all will
realize actually the bull market starts at the bottom of the bare market so really officially the bull market started here at Bitcoin at around $115,000 and it's just a messy up and down up and down sideways consolidation all the way to the top now looking at seasonality and this is where we've discussed about this October in short saying that historically generally it should be a very good month of about 20% on average so Bitcoin is down already about 3% but in crypto terms this can be recovered in literally 1 hour so this isn't looking too
bad now when it comes to the altcoins represented by ethereum it is a little bit more and it's about 8% so it looks like it's breaking Trend however these seasonality charts can be a little bit misleading I remember just last month when it came to September and we were saying that it's likely going to be a red Timber well in this month it was down about 10% so it was in fact a red Timber but then the crypto Market can swing very very quickly and all of a sudden it looks like September was a good
month and I guarantee probably a year from now I'll come back to this chart I'll look at September and I will have totally forgotten that it was down a -1% I'll just look at this and think think it was a strong month so just bear that in mind because this can still finish in the green by 30% don't believe me well check this out if we go back to ethereum's chart we can see that in any given month it's extremely volatile so good thing about the candles is that you get to see the absolute bottom
and the top for a particular month and let's just take two months ago ethereum when it hit this bottom range and then there's a movement there of 53% so in any given one month ethereum can move up to 50% and that's just recently so there's nothing to say that by the end of October this could be plus 40% so just something to bear in mind and we're also about 1 month away from the election and it's safe to say that if Trump gets elected there will be millions of people with their finger ready over the
buy button to send crypto to the moon so for me it's incredibly difficult not to feel bullish for Q4 and even if we get another drop of 10% it doesn't mean we can't finish strong now one chart I'd like to add in for this week it is the search trends for Bitcoin and this is data for the last 5 years and it kind of represents what's going on with retail how many people are searching for the term Bitcoin on Google Now it shows that 100% this was the ab absolute Max and this was the peak
of the last bull market so obviously with crypto Cycles getting bigger and bigger and bigger next time it really should be up here making the previous one look really really small and as of right now we are under this 25 I'm guessing it's a percentage chart so retail this cycle search volume virtually non-existent right now which says to me this whole thing has not yet even started now jumping into the foure cycle where we can clearly see what's happened in the past and where we're at right now so remember the start of the bull market
officially really is here we've had this Mega uptrend we got taken way above where it should have been before the harving setting a new high before the harving which was something that had never been done before and boy did we pay the price as prices had to come down in this painful sideways action and as I've said before if prices just nicely Grew From Here everybody would have been extremely happy but being given something artificially and then it being taken away has felt a little bit like crap let's be honest however let's just knock out
this first cycle and see where we're at so essentially we are pretty much again right on track prices have come down to where they should be below the previous Cycles below the one just gone and we've now got this clean space for the final part of this bull market my base case is a 10x from the bottom bull case being a 15 and I'll be incredibly surprised if it ever gets to a 20x again and as we can see in a different way here the bull market from this most recent correction may have just started
here although we are higher and it feels turbulent it may have already started now I don't think it's going to be going back above these Trends this vertical move of the last cycle was when the Fed was printing more money than they ever have in history because of what happened in covid obviously two cycles ago be very difficult now to catch this line but finally finally we are right on track several big news pieces for this video video the first one is good news for xrp holders as an S1 form has been submitted byy bitwise
for an xrp ETF and on the back of that xrp Ripple had also just made a partnership with one of largest crypto exchanges in Latin America and this is to do International payments so there's been some good news for xrp Bhutan which is a tiny country with a GDP of only around 3 billion and it was discovered that they've got over $780 million in Bitcoin so where is Bhutan well on the other side of the world we have India which is here and this is China and Bhutan is this tiny little country here right on
the precipice of the Himalayan Mountains so this is Mount Everest which I'm sure everybody's heard of and randomly the government of Bhutan has put almost a third of their GDP into Bitcoin next we had more news from visa and they've been helping Banks to test tokenized assets so as we all know by now tokenized assets is going to be one of the big things that happens in this next cycle and this is a massive use case finally for blockchain technology and Visa being one of the biggest payment networks in the world and helping banks these
are the guys with the most money get onto blockchain so this is great to see micro strategy and Michael saor just hasn't stopped he is buying as much Bitcoin as he possibly can and he probably knows it's about 6 months after the harving where things really begin to move so he's been scrambling to acquire as much Bitcoin as possible and I think over the next 6 months you are going to be seeing a very happy Michael sailor we also had some development with black rock and the spot Bitcoin ETFs and this time the SEC surprised
a lot of people by approving options options trading for the spot Bitcoin ETFs so they extradited this and brought it forward and one of the guys from Bloomberg points out that this wasn't really expected until May next year but this is a huge win for the Bitcoin ETFs as it'll attract even more liquidity which will in turn attract even more big fish great great to see recently in the last couple of days we saw that PayPal again another payments giant has now allowed businesses to buy and sell crypto so this is great allowing businesses to
add initially Bitcoin and ethereum to the corporate balance sheet also great to see then this news was massive Bank New York melon which is actually the oldest bank in the US and they have got over 2 trillion dollar of assets under management and the SE and the SEC surprisingly has given approval for them to custody Bitcoin and ethereum with a door to other crypto assets so this in itself is massive massive news it's great for crypto adoption and then finally a nice little chart from Plan B which reminds us all of a very important point
when it comes to the crypto market now if you're getting frustrated because prices have just gone sideways or even trending down for the last 6 months and it can be frustrating and feel like this has never happened before and it's Unique and it's sucks well this is a great chart to show that of the three of the four years in a crypto cycle they're pretty much just going sideways with massive crashes massive runs and loads of ups and downs in between and it's happened again and again and again and in fact crypto you could say
is just massive sideways action for three years with about a year of an explosive move three long years of just going sideways with a very short period of a massive move three long years of sideways action and I think everybody knows right now what is Jew next with the promise of a strong October things haven't quite got off to a flying start well the last part of the bull market may have already started as we've probably all forgotten already just two months ago Bitcoin was at $50,000 so it's likely that the bull market has already
started as we saw in seasonality ethereum is down 8% however we also saw that any given month can fluctuate up to 50% so plenty of time still to finish strong and that final chart from Plan B reminds us all that crypto for three of the four years basically just goes sideways in a massive sideways pattern with hundreds of ups and downs along the way and that one up year is probably coming very very soon so as it stands the final part of the bull market probably has already started when Bitcoin was at $50,000 still lots
of time to finish oober a trump win would ignite the crypto market and historically it will be 2025 that is the explosion year so still all to play for so there you are guys hope you enjoyed now for me I can't help but start feeling incredibly bullish right now even if we get another 10% drop from here I think it's all still on track any questions or comments just post them below however just remember to get rid of 100% of the comment spam and trading Bots that Plague YouTube comments we are trying out the new
super thanks commenting system so to get your question or comment read and replied to or just to say thanks then use super thanks below and for now just to say if you did enjoy anything in the video then drop a like and a big thank you to everyone who does and I'll see you in the next video bye for now [Music]
