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
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