the world's largest internet company  just partner with the largest U.S  Bitcoin and crypto company probably  nothing says Bitcoin magazine we all  know that it's probably something and if  you're a macro-minded investor you  definitely know these headlines in the  short term don't always impact price  right away oftentimes they don't we know  that I want to discuss that in this  video I want to talk about what this  means for Bitcoin for crypto in the  middle of this bear market so we're  definitely going to integrate charts  into this video so we can start thinking  again along the macro mindset but here's  the news powered by coinbase Commerce  which enables Merchants globally to  accept cryptocurrency payments in a  decentralized way the new payments  experience will benefit Google Cloud's  customers and partners by increasing the  optionality of payments for Google cloud  services CEO of Google Cloud said the  company's focus is to make it  frictionless for all customers  frictionless for all customers it was  just days ago that I was doing a video  about another headline FTX exchange  partnering with visa to make things  frictionless we're in the middle of a  bear market so that news really didn't  do anything and it's not the first time  we saw news like that but these  headlines and the importance they have  in the macro growth of crypto cannot be  highlighted enough if you're short-term  thinker and you're looking for  short-term pumps off of news like this  those days are over but if you're a  macro-minded investor these are the  things that really do excite me these  are the building blocks in addition  Google will use coinbase prime the  exchanges institutional cryptocurrency  investing and custody platform the  collaboration will also bring coinbase's  global data platform to Google Cloud  enabling cryptocurrency developers to  access Google's bit query public data  sets which will be powered by coinbase  Cloud nodes real quick another recent  headline breaking this was from earlier  today as well America's oldest bank bny  Melon now offers Bitcoin custody  and here's that news bny Mellon now  offers Bitcoin custody Services  America's oldest bank said it would  begin receiving clients cryptocurrencies  on Tuesday beginning the first becoming  the first large U.S Bank to safeguard  digital assets alongside traditional  Investments on the same platform per the  Wall Street Journal report I know  there's some of you out there they're  like oh come on  this is this is ridiculous we don't need  to be partnering with the big Banks we  don't need the big Banks this isn't  decentralized listen I get 100  your narrative there I get your thought  there but if you're anticipating and if  we're sitting here as long-term  investors and that's that's really what  I am I'm a long-term investor and I'm  I'm speculating on the growth of crypto  and I'm speculating and anticipating  trillions of dollars to come into this  space  these things need to happen and they're  going to happen it just is what it is  it's it's just reality and and I think  you know kind of pivoting away from that  Narrative of you know we can't we can't  have things like this happening well  there's probably not going to be much  growth if they're not happening it's  just it's just really the bottom line  and if we're being honest with ourselves  that's the bottom line the move comes on  the heels of other major financial  institutions having jumped on the  Bitcoin Bank bandwagon so this isn't  this isn't like the first time we're  we're talking about things like this  happening BlackRock the world's largest  asset management management company with  over 10 trillion dollars in assets under  management announced in August that it  would start offering Bitcoin trading in  custody in partnership with coinbase so  that's also recent news now here's the  thing all of this and this is this is  the big deal everybody this is what gets  me excited it's why I like to hop on  here press record and just talk about  this because as an investor that's all I  am I'm just like you out here I don't  know what's going to happen next I'm  speculating reading I I'm hoping we we  get into that bull market once again we  exit this bear Market eventually but  this is what gets me excited I enjoy  creating content about things like this  and this is it  global market cap of crypto 952 billion  dollars under a trillion dollars  everybody with headlines like this  happening with headlines like this  happening the world's largest asset  management company with over 10 trillion  and we're talking about the entirety of  crypto market cap this isn't Bitcoin  this is the global market cap of crypto  under a trillion do you realize how  early this still is many people are are  kind of like man is it too late  especially new people getting in is it  too late why wasn't I here years ago  sure  I wasn't here in the early days of of  Bitcoin when it was like a dollar two  dollars  but that doesn't mean I was late  and even right now I think the  cryptocurr the crypto market cap under a  trillion dollars  that's crazy to me it's undervalued it  really is and as a value investor  there's there's opportunity all over the  place just look at this here's just a  quick perspective Apple  2.2 trillion dollar market cap Apple One  Singular company Google which we're  talking about in this very video 1.2  trillion larger than the entirety of all  of crypto so we're talking about all of  the coins not just Bitcoin  there is so much upside and there is so  much growth getting ready to happen but  I digress because here we are this is  Bitcoin on the charts just falling it's  it's just falling falling falling and if  we even look from its all-time high  Bitcoin right now I mean ultimately  seeing around a 74 dip and right now  sitting at around 72 or so now that 70  plus percent dip is actually extremely  relevant on this chart but as we sit  here on this daily chart for Bitcoin  Bitcoin becoming more and more  undervalued Bitcoin becoming more and  more oversold we've been here through  these Cycles before I speak so much on  buying fear accumulating fear  trying to spot those oversold  environments and and more more so trying  to be patient enough for those oversold  environments because right now it feels  like we've kind of been in this bear  market for a very very long time but it  hasn't been that long right and so we  anticipate downside scenarios like a  fall below the 786 line and things like  that can happen  with headlines even like this  Bitcoin Google these bullish headlines  but this is these are these are the  building blocks these are the Stepping  Stones to bitcoin entering the next bull  market and finally hitting value that I  think many of us are anticipating I want  to do something it's crazy to look at  this daily chart zoomed out I want to  take the bars pattern  as we trade sideways kind of in this  consolidation pattern that Bitcoin is in  in this bear Market it it continues to  more and more remind me of all the way  back here in the last bear Market before  we went into that capitulation and it's  just this this sideways consolidation  that we're seeing and look at this I  take that move and I put it right over  the Bitcoin charts and it's just it's so  similar so far right and obviously it's  not going to play out exactly the same  who knows what's going to happen we sit  here we speculate but interesting that  in this Bitcoin bear Market it's making  a very similar move to previous bear  markets from a technical analysis  perspective I'm saying put away the  headlines I'm saying put away market cap  valuations put away what we think is  going to happen with Bitcoin next in the  bear market and even in the next bull  market talking about Bitcoin above a  hundred thousand dollars put it all away  just look at the charts look at the data  alone and look at how Bitcoin is so  consistent on these charts and so here  we are bitcoins consolidating a bear  Mark in a bear market like it has before  and we continue to ask the question on  this channel and and this is a question  I've I've been talking about for years  and this goes back to all the way to  when I really started talking about it  it was actually in the bottom of the  list bear market and it sees 786 lines  and so we finally made it to a 786  Fibonacci line and as we get headlines  like this on the short term I want to  say this 786 support line and by the way  what that is I have to chart it I know  many of you see it all the time you're  probably sick of it but somebody new on  here hasn't it's a less bear Market low  to bull market high and we have a 786  retracement line this area is is one of  the most important data points for me as  a crypto investor not not Bitcoin as a  crypto investor because this is a huge  piece of the roadmap for me and I've  been anticipating the potential fall for  a very long time for Bitcoin under the  786 line and look if we take the the  bars pattern from 2018 it's just crazy  to see how that plays out and and the  macroeconomic environment of things  we've been talking about a lot on this  channel it's so in play for this right  we look at S P 500 right now testing the  200 week moving average uh and and it's  just look at that look at that red line  being tested this chart could very well  capitulate and fall below that area and  in that environment it doesn't matter  how bullish the headlines are for  Bitcoin in the short term it really  doesn't because Bitcoin will follow the  move to the downside so the purpose of  this video is to talk about wow  these headlines really are setting it up  they're setting up that long-term story  of the frictionless combination of  crypto and everybody's daily lives it's  setting up and that's important for the  growth of Bitcoin and crypto it's  extremely important but I can't stress  this enough  the short-term news doesn't immediately  translate on the charts and so we always  revisit the charts from a macro  perspective with the macro mindset and  we say okay maybe this doesn't play out  like this but it is just the most wise  thing and I say this a lot to anticipate  more downside in a bear Market it's just  the most the most wise thing especially  when we have data points on the charts  so again I sit here this isn't financial  advice I really do this I like creating  content this is for entertainment  purposes for you trying to track the  data I am trying to offer value to to to  try and help you make better decisions  as well but we're on this journey  together and really we we are and none  of us know what's going to happen next  but zooming out on the charts I think  it's clear we're approaching an  environment we've been in before and  right now the setup is looking extremely  bullish because of news like this and I  want to just do a quick video on it  today and talk about it I wasn't  planning on this but uh there's the  video so I appreciate you cruising by  hit the Subscribe hit that like I'll see  you in the next video God bless