Well folks, I hope you are having a fantastic day wherever you are and in today's video. I want to start by answering a lot of the big questions that many of you have had as a recent that I've seen in the comments down below a lot of you have been asking about bitcoins price. What do I think it's heading along that as well? Bitcoin dominance are we looking for all coins to start picking up steam soon and then also more specifically talking about aetherium and regards to my confidence before the defy movement and outside of it as well? We'Ll be taking a look at a lot of analytics to just talk about what's going on in this sense of equity markets, with all the global fear, that's been building up around kovat 19 and specifically dive in a little bit into what target range, I think is Fair for the sp500 and the major indices, all right, so we've got a lot of things to discuss right after our quick sponsor our sponsor for today's episode is tax bin. The IRS recently released new forms in 2019 that require all tax payers to attest on whether or not they treated kripak currencies, no matter if they made gains or losses tax bid. Automates your cryptocurrency taxes, enabling you to effortlessly track, calculate and report your transactions easily connect. Your exchanges to securely sync your transactions and run them through tax cuts tax engine generate your completed.
Tax forms with a single click founded by tax attorneys and CPAs tax bet is the most trusted. Cryptocurrency tax solution get 10 off your tax plan today, with a free trial using promo code data already everyone so let's go ahead and start by taking a look across the board for crypto currency markets. As we can see, the vast majority of cryptocurrencies are in the red right now, just barely out of neutral territory around three to four percent down nothing too significant after a pretty positive Green Day, or actually, you know combination of a few green days in the sense Of cryptocurrency markets we dive in here at the beginning of the video we'll dive in here specifically to talk I don't know: I've got my golden arrow there to talk a little bit about the logarithmic chart here on the BLX Index, which is basically an aggregate Price Index for Bitcoin, taking amongst the largest exchanges based usually somewhere in the Western world, where they're regulated they're over set – and we know that the volume is pretty much almost nearly transparent in this case right. So we have volume bars down here the price here, the longer than the curves here the Bitcoin is held in for the most of its history, and the reason I say most of its history is, with the recent sell off that we had to most likely and Not only a combination of a demand for cash fears around Cove in nineteen, but mainly mostly here in this case, we had fear in the sense of what was going on from the plus token Ponzi scheme, where they were dumping.
Mass amounts of cryptocurrencies, hundreds and millions on spot exchanges and that's. The third thing I was trying to think about there for a moment, which was the sheer fact that there's such a lack of liquidity on spot exchanges and all this money going on to leverage trading platforms. Now again, I think I've explained that a decent amount on the channel guys. But if you want to know about the difference between those two things, to put it simple derivatives, platforms or platforms, where you can trade margin are basically trading off of the spot price and the lack of volume that's on spot exchanges. Because all of its going to these derivative platforms to increase their exposure and their risk to cryptocurrency markets is making it where we can have these volatile moves. So the significant thing to take into mind here – and I will say this is probably given the biggest point to the Bears here for cryptocurrencies – that we might be setting up to challenge one of the most time tested data science models for cryptocurrencies is that you know We had a huge break here on the logarithmic curves good news is by the end of this month, which is what people are looking at when they're looking at this chart. Looking at the weekly and the monthly good news is, is we got back up above here? All right, we're back into the curve from the original chart that at least I've had set on here we'll, have to take a look at the data science models on look into Bitcoin again in the future, but again usually to get the most up to date.
Price. Today, we're going to look at the chart here right now at least we're back in there, so it does give some credence to the Bulls here on. Although the general thing you're gon na look for here right, you know we could sit here and debate whether or not this is like the final, be all for Bitcoin, as a lot of people are calling it when we broke originally major thing, I'm gon na look For is if, in the next four six months, I don't see Bitcoin holding on this line getting back above 10000 and continuing to climb up for the next cycle there. The logarithmic chart is showing us whether or not we're gon na be keeping up and pace with what we expected right, it's as simple as that it's, something that we don't have to overcomplicate. We just have to look for these simple signs here in the chart. That'S, not something we'll be able to tell overnight okay. Now now that we've talked about that, I want to go ahead and talk a little bit about Bitcoin dominance and, more specifically, take a look at it in the form of all coins elements. So we can see on the monthly chart right we're building into a very nice long term, wedge here, we're taking it to the highs here, taking it to the generalized support here. Building up for an area where we're gon na see some form of breakout. Here, probably in the next couple of months, going into the later part of 2020 again, I think the thing that we can all agree on no matter what, when it comes to Bitcoin and altcoins, is that any kind of bull cycle we're gon na see is gon Na come later in the next couple of months.
Well, after the having event as we're talking about a much larger market scale and we're gon na be talking about about really going about beginning above that 20k level, it's very relevant here for all coins. Here as much as we've gotten a nice bump up here in all coins, guys I'll be fair. I really think we're going to be pushing sideways here until August of 2020 at a minimum, because we not only need to having event, I think, to come in to apply by said pressure for bitcoins price to get back up to 20000. The reason I say that that's, an important factor is because we've seen historically at the last two all coin cycles that happen in crypto currency markets were when Bitcoin reached back to its all time, high at around 1100, but in the also all the other one as Well was at the peak of bitcoins price at the end of this cycle, so I think we're gon na be looking for the first of those two in the scenario which is basically the equivalent of Bitcoin, going to 20000 right to get back up to that previous High that we've had on bitcoins price and that's, probably gon na happen sometime here in later 2020 early 2021. We might see a little bit of a precursor rally here in all coins, but really get the momentum later on. Who knows alright? The gym we want to watch for is that we're building in this wedge here and not to get bearish on all coins here, because really, in my opinion, from what I can see here again – it's just my opinion, but taking a look here at this chart, guys We'Ve already seen the brutal beating for all coins, all coins are half of where they were back here in January of 2018 of the sense of market dominance.
This isn't the time, in my opinion, to really get bearish right now, you guys might have a different viewpoint and if you do I'd like to hear down the comments down below, why you feel that way. But also again, if you agree as well, I think that basically we've got a short 12 a time here. Really in the grand scheme of things have you been you know in the space sends back here. I think you've got the patience to wait a couple more months here guys and I know it stinks. I don't we wanted to happen tomorrow, but sometimes it's, just a matter of patience here, to really benefit from these rallies and again keep the scale of the market in mind guys how small cryptocurrencies are compared to the grand scheme of things right: gold, a 10 million Dollar, market equities, global equities, even with their decline. You know it's anywhere, I think in the United States from 50 to 70 trillion and value. I might be wrong on that. You know in it for factoring in global markets, you're pushing well towards 80 to 100 trillion dollars in valuation, lots of value locked up in the world, and now we've got this market here, cryptocurrencies that are valued at well what's. The latest figure 182 billion. I know which market I'm optimistic on doubling and the next year or so, and that would likely be cryptocurrencies in my opinion. Now I want to go here.
Real quick talk a little bit about eath I don't. Actually, I want to look at the USD USD chart here, but, generally speaking, what I think is likely here for eath is that we've seen the majority the sell off here, we're gon na be setting in a third higher low here, in my opinion, that's. The major thing we need to see we set to higher highs here to higher lows: it's gon na be a matter of sending a third one here and then a third higher low to really get the next cycle going, because when we get up to this range, I think that's, when we really kick off the cycle here when you single confidence you can actually see before we did, that on the last cycle, that's exactly what we did: higher high higher high high high high low higher low and higher low okay, not too complex, That'S, a sign throughout price that confidence is coming in, the Bulls are paying a premium from where they would have had to pay back a couple of weeks ago, and it shows eagerness in price right. We can also take a look at a few st on bit. Finex very important to take a look at as well interesting thing to note here, right, though we did say lower low here in this case for eath. Of course, the whole market had a complete disruption if you're taking a look at terms, a USD all in all right.
We'Ve been writing about this golden range down here for a while right. This little range down here between about a hundred eighty bucks here for aetherium. If you're able to scoop it up there, your lucky fellow in my opinion, but a walks just sorry that this is the reason why the charts not looking good, we have it on the we didn't have another logarithmic chart there. We go see it to me. Right here still looks good because even after this pullback, we still set a higher significant low than this base level over here right and the salt volume is stopped, prices recur, ected or back to around 135 it's. Just a matter here of getting back up and I think, really to really resound confidence and eath in the sense of sparking its next rally. It'S gon na have to get above this range here above 280 to 300 bucks and just hold for a little while similar to how it did over here right and see again price action back here showing significance. It can probably give us some precursors here to what's gon na happen in the future, and when we do that, I think we can really spark for the next rally and even climb past the previous highs. If we really get into the crazy next cycle for cryptocurrencies. As we scale out to a multitrillion dollar market for crypto, now an important question here guys, I know a lot of you're curious.
You know Nick that might be the case in the next couple of weeks or months, that Eve might get back up there and might spark this next rally. Are you confident right now and I think it's a very good question for me personally? Yes, guys and the reason I say that is because, if your name's not only got a lot of things coming in the sense of e 2.0 I'm, just gon na include staking, which is gon na, set a lot of demand here for the eve currency. In this case, or ether, along with that it's really about defy there's, no other thing in the crypt of space, I mean, if you're, just long on this space right if you're bullish on crypto to some of you think there's a 10 chance at anything that this Space is gon na become a revolutionary new asset class you've got to be in it on defy you've got to deep people who are ignoring defy in bullish on crypto. I don't see the correlation here because I'm interested in the argument of a store of value I'm interested in the use case of being able to soar wealth, but being able to do interesting things with that wealth, right and unique ways without permission with the ability to Have an open market of developers who are building the best applications that offer the best services at the best rate of efficiency and security that's. What interests me right now defy isn't ready for the mainstream, yet we've seen that as of recent, and I think, there's a big reason why it's price, really each price really sold off in this, I would say: it's a fourth factor to Yee.
This price went down as we have the three factors as to why bitcoin was going down plus token had a lot of eath that it sold there's a lot of spot liquidity, as we can see here. Nowhere near the volume we used to get an exchanges like bit FedEx and along with that as well right. We also have the need for cash, but the fourth factor here is the sheer fact that maker had a huge amount of liquidations make her down. One of the largest di projects it's got a lot of issues that need to be resolved, and that goes for a lot of different dphi projects out there. So I think that they're going to provide a lot of interesting challenges that can be solved and one this chat once those challenges are solved. I play the optimistic role here. When it comes to technology, I believe they will get resolved and if they do in this case, eath is going to continue climbing higher there's a lot of people in this world who could benefit from the defy space. So I reckon when you guys look into it. I really recommend we've got something coming soon, it's taking a little bit longer than expected guys, but we've got a basically a project. I'Ve been working on company that I'm very very excited to reveal that is going to help encompass a lot of the dphi space. So stay tuned for that I know you guys will really like all right.
So we've answered a lot of the big questions here and the sense of crypto markets. Again, generally speaking, I think the main thing to focus on guys is just I'm, not changing my positions. I'M, not fretting too much I'm, not changing in and out of all coins to Bitcoin too much it's, just not worth it. Try and trade these markets right now want to go ahead and talk a little bit about traditional markets. Go ahead here: we'll get the latest up to date, market reports here in the sense of current futures we're, seeing markets anywhere from 4 percent down to negative 1 point 5 percent. Here in Poland. We can see here, though, for us indices right generally neutral, small caps. Still down about half a percentage, NASDAQ and SampP 500 neutral and the Dow Jones up over one point 16, and this is coming after the biggest rally we've had in years for the Dow Jones massive break. It was the third best day for the Dow Jones in history yesterday. Well, the reason we had this is because the money printer is going BER we're, having a how did if you guys have seen that mean, but basically the Fed has announced that it's going to be injecting up to four trillion dollars of liquidity. We'Ve also got the federal government coming in with its stimulus package, which is going to include two trillion dollars, most likely supporting American families with paychecks in this case that are gon na, be directly deposited small business loans, basically bailouts for large corporations, you name it there's Money, galore right, green everywhere.
Now I want to go ahead and talk a little bit about a few different indices here, so there's market breadth here, which is a really interesting measure here – that showcases the amount of companies that are either 52 week lows or 52 week highs. So, to put it simple again, the chart is showcasing that the broader equity market for the united states has experienced a dramatic sell off over 80 of stocks now are showcasing new lows versus new highs, and we can see that this is the fourth worst time in History that we've ever seen for this in the a weekly chart here we can see back here and 31. We had 81 here in 37, we had 94 overhears well in 2008, we had up to 82 and now we've got over 80 again this isn't to say that we couldn't see this number grow over time. It could extend, as we saw back over here, for example in 31 32. Again, we saw an expansion of this and we had multiple weeks where we had new lows in this case. For the vast majority of stocks, we could very well get that no doubt about it. We'Ll have to see, though, again I think more than anything that's just showcasing here. We'Ve had one of the most dramatic sell ups in history and we'll see that more and more as we look through these charts guys mutual funds in the United States seeing their biggest drop in assets under management since 2008, 15.
Just a percentage shy. What we had back here – well 15.2, but 16.2 as well, so really just a percentage difference, incredible stuff and in the time period that we've seen this I mean this is really saying something: a lot of those well again focusing directly on time periods here to get The kind of drop we had a 30 drop we had the fastest on record 30 drop in history. You know, for example, a lot of people compare this to 2008. I really we have to start here in 2007, when the first initial 30 decline came for the you know, the recession that happened back then right 250 days to get there. We did it in 22. This is not like 2008 guys and when you further heard me probably say that this is not like 2008 it's, not that I'm saying that equities, aren't gon na go down or and that gold and silver won't go up I'm saying that stuff. What I'm saying is that we have to be a little bit more broad in understanding different market cycles in the past and understanding what we can compare it to. This is very similar to the 30s in, like 20s, after the boom, the boom and the basically the roaring 20s and then the Great Depression. And this is why I've been really hitting home on the point, guys that, even though we're tossing a ton of money at the system right, even though it seems like in the next couple of days, according to the current administration, we might be able to go back To normal and that businesses operating this is going to leave a long term impact on the consumer.
It'S gon na leave a long term impact in the sense of the people that this virus ends up killing a less. We can have some form of vaccine soon, and that is going to put massive disruptions, mostly on our healthcare system. Lives lost families distraught because of this. This is gon na, have long term ramifications and it's gon na make it where, even though you can toss money at the problem, it's not going to be the cure. It takes time to recover from these things and that's why stocks have sold off so dramatically. Right now, a good similarity here to taken in mind it's the Dow Jones and how its performed so far right at a 37 percent decline in 27 days very similar to the 40 day decline that we had of over 40 percent in 1929. Interestingly enough, here, we're getting a rebound this morning, in fact, well, we actually had a rebound yesterday of around 10 very similar to what the chart has outlined here. Could we be seeing the exact same kind of bull trap here, where prices come up and reverse back down for even worse lows than before before we get a full recovery, it could very well be a scenario right. I think, though, that, even though we might get this rebound, the draw down, if we have one, is gon na be a little bit more longer term right, it's gon na be difficult for prices to go down too much with the amount of inflation that we're about To get here and the injection of new cash right that's, something I want to think I think, is very important to get across, and this again here highlights that significance.
If you really just want to see it visualized right, we have the lows of all these different market Corrections, as well as the rebounds of what happened afterwards in this case, showcasing here back in the 60s setting a new high right. So we have very interesting stuff to take into mind here. Just again, the sheer the sheer value decline from this correction was something that was historic. Guys have you've been here even witnessing history. It was pretty cool again. What are your long stocks, whether you're short, whether you're not holding a position or just maybe in cryptocurrencies it's, fascinating to think that we could be here together during this time and I'm so happy? I could be doing YouTube like. I am right now having you guys here on the channel. It means a lot. It really does so I appreciate it guys. It means the world to me personally now taking a look here right at the rebound we got. You know pretty significant day for the SampP 500 markets have now opened currently sitting a little bit under a percentage point here. The sp500 quickly rising, though question here is whether or not we're going to be able to hold right. Was this the third lower level here right? Some people would, for example, draw a general trend line here. You know some people would say that we need to be exactly aligned with the absolute bottom of the wicks may not be right.
We could be just setting in our third lower low here. I think in general. What we're getting is a relief rally here. You'Ve got the stimulus you can't bet against it. It'S, like we talked about back here, guys in 2018, when the PPT or the plunge Protection Team secretary Secretary of Treasury, in this case, Steve minuchin, meets with the other elements of the central banks and all kinds of different things that can boost the economy right. They rebalance the pension funds, took out a huge multi billion dollar equity, long position on people's retirement accounts, but, along with that, as well, feds started to relief. The economy started to lower interest rates, started to readjust and take on to the idea of quantitative easing again. All right stepping in to refill markets throughout this time period they did everything to keep equities higher, but this time around right, we're gon na get a relief for a lot. How relief rally because the Fed is injecting cash, its quantitative easing and a lot of that. As well, the federal government is taking on a larger deficit, massive stimulus package for the economy, but I think after a while, though we're gon na see this start to roll back over, I think, like 1929 we're gon na have one more lower level here, significant low. Then, after that, perhaps there's a chance for equities to rise up, I think that's, what we're gon na be looking for here, guys because of the longer term things there isn't many times where we sell off like this – and this is the logarithmic chart, bear in mind.
Just to be fair right and we could turn it off and makes makes it look a little more clear that we've probably got a full scale. Recession coming through so we're, probably going to come down to somewhere in this range. But all in all here right looks like we got a little bit of a ways to go. It does could be like what we saw back here 1987. We could rebound right back if we find a cure tomorrow. That would change the whole story, but it's likely gon na be that until we have 8 to 12 months, we're not gon na get a full scale vaccine, and this will continue to get worse and worse before it gets better. I hate to say it I'm, a very optimistic type person. I know that might not come across as I've been bearish on stocks over the last two years and usually people like oh I'm, a cure so negative, I'm, actually a very optimistic person. I traded equities for a very long period of time, but I knew, as the Fed has started, to ease back its policy that you're much more likely to get a pullback. I didn't know, though, that it was going to be a recession or possibly a great depression. Around a virus, though no one could have probably predicted this. We get a probably seen and had a little bit foresight, keeping up with it in China since back in like January and early February, but I wouldn't have expected it to be this bad.
So, above all guys, no matter what happens in markets I'm praying for you. I pray for your families. I'M, not a big religious type myself, but I am. I am definitely thinking about you guys and hoping for the best for all of you right, and I hope in this time we can all do the small things that can help to cut incur back on the amount of deaths the amount of people affected by this Virus and hopefully get to spend some quality time with their family and friends right. I think those are the important things. Markets are secondary right, but the best thing we can do is come prepared and when those opportunities arise in markets, we take them right. Anyways I'll. Let you all know if I change my mind on stocks. I know many of you might be curious about buying positions in them. I'M. Definitely building up a cash position to buying equities because I'm, already kind of well positioned in crypto. Personally speaking, but that being said, I'll, let you all know as time progresses and the sense of crypto. I know we're at a pretty good discount here for crypto as well, and many of you might be looking to possibly get your first position in aetherium Bitcoin or some of the well known cryptocurrencies. And if you're interested in that, you can always check out our sponsor. Eats Horo now, for those of you may not know, II Toro is a social trading platform where you can buy a wide range of Koopa currencies and communicate with a ride.
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