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Bitcoin crashed $10,000 over the weekend But why did Bitcoin crash will it Continue to crash from here and what are The next price levels that we're looking At from this point we're going to answer All of this in today's video and not Only that you got to stick around Because I'm going to reveal something in The fourth quarter of this year that is Going to change everything but why did Bitcoin crash well everybody it was the Germans the German government unloaded Nearly a billion dollars worth of Bitcoin wallets linked to the German Government still hold almost 24,000 Bitcoin meaning it has already sold more Than half of its seized Assets Now this Is an important point they have sold Beyond the 50% point so we are now past The max pain point and now it is just Reduced selling from here on out and now That they've sold half we are on the Other side of the Hill meaning hey you Know maybe the worst of the pain is Behind us but German government they Transferred 16,000 Bitcoin from its Holding to crypto exchanges and market Makers on Monday price ended up falling Even lower than that 54 ,000 and it fell This afternoon in Europe and the reason It fell was the $900 Million worth of Selling pressure from Germany now Arkham Has done a great job we're going to go Into the dashboard and just look at the
Freshest data when it comes to how much Bitcoin German government has been Selling but they did a series of tweets Now it started lightly enough right with $155 Million worth of bitcoin selling German government had seized a whole lot Of Bitcoin from a pirating site that Pired movies back in the day and so They're just sitting on billions of Dollars worth of bitcoin well today they Send $155 million to Kraken Cumberland And OTC service well shortly after that Folks they kept selling update they sent An additional 8,000 Bitcoin with over 420 million to exchanges and market Makers since that previous update but Wait there's more and you can see Shortly after that they sent another 5,000 Bitcoin on top of the previous 8,000 Bitcoin and so they currently are Now down to 23,000 Bitcoin which like I Said earlier less than half the Originally seized from the movie 2K Remains now Arkham's been doing a great Job and you go here you can actually Click on their platform where they are Tracking the Germans wallet now this is Uh just their most recent selling 4 Hours to coinbase bitstamp Kraken and Some OTC deals uh they are now reduced That exposure to under 24,000 so they've Gone for basically 3 billion to about 1.3 billion so still some selling on the Horizon quite potentially here so the
Selling might not be done but folks I Actually have a live video of the German Government this is breaking news Everybody hit that like button if you Like the breaking news this is a live Look at the German intern every time he Sees a green Candle on the Bitcoin Chart I mean just look at this guy go he Just can't stop folks this guy cannot Stop that is the end turn right now I Think he's getting ready to sell another Batch now let's talk about where does Bitcoin go from here and I got three Reasons why maybe we're going to have a Lot brighter days ahead I got three Reasons why Bitcoin I'm predicting this May have been the local bottom Captain Fabic did a really good job you know Explaining why with this ta which is Called a descending broadening wedge the Descending broadening wedge is still in Play looks like Bitcoin is bottomed out At this part of the wedge and it's ready To bounce back towards 70k this is going To be crucial resistance Captain is Saying do not miss this golden buying Opportunity well if we go into the Charts you can see the broadening wedge Right here now this thing has been dated All the way back to March of this year Not only that early March and we just Been testing around and ranging within This range now we just tested right near The bottom and if we were to go to the
Top say with the next couple weeks next Three weeks that is $71,000 literally almost on the dot 71,1 bucks now I do expect us to stick Within this range but I wouldn't be too Worried if we Wick above or below now Even with this Wick right here you can See you know we we closed several daily Candles below it but still ended up you Know coming back into the wedge for Support now folks I said there's three Reasons why I'm bullish on bitcoin at These levels reason number one good old RSI Divergence if we go to the 12-hour Chart here you can see you know within This range we just printed a very very Bullish signal now this is a just Textbook bullish Divergence you can see On the RSI the relative strength index With these two local bottoms RSI was Moving up as the price was heading down Typically you only see this on you know A 5 10 maybe 1 hour chart you don't Typically see it on a 4H hour 6 hour let Alone 12h hour or 24hour candle so this Is a pretty bullish marker that we're Seeing on a fairly large time frame so Reason number one we just started Printing some bullish Divergence on the 12 hour if we see it on the daily that Is definitely a load up accumulation Zone reason number two is going to be The M2 money supply is about to explode To the upside uh this is the Fred which
Stands for the Federal Reserve economic Data so this is the Fred data so the FED Data is signaling we are now about to Start printing money again so you can See you know now you can see here we had A little bit of a pullback as we you Know we slowed down quantitative easing Went to a little quantitative tightening Cycle and now I'm predicting you know We're going to start seeing parabolic Moves to the upside which is going to Pump all the equities all the assets so This is very very good for Bitcoin this Is good for home prices this is good for Gold and a lot of just uh key equities But then the final and third reason I am Bullish is the biggest reason of all and I said there's a Q4 thing that nobody is Talking about and that is FTX now you Remember Sam bankman freed you know he Crashed the crypto markets and it might Be time for him to resurrect the crypto Markets from behind bars why is FTX About to inject $16 billion doll into The crypto markets is another Bull Run Coming well folks it looks like yes they Are about to pump the markets full of Cash potentially driving massive massive Uh market growth right here is a tital Wave of capital set to flood the market As FTX it plans to return $16 billion in Cash to its customers this refund could Reshape the landscape for Bitcoin eth Salana and other digital assets now the
Reason why this is happening it looks Like the creditors are finally able to Start paying back the customers who lost All their funds who basically had their Bitcoin stolen from them and then given To politicians now FTX has confirmed its Plan to distribute $16 billion in cash To users this is confirmed by ftxs new Leadership this plan involves Categorizing users into two different Classes the convenience class this is Going to be people who go to the gas Station wait a minute no I'm sorry this Is claims under $50,000 which will Receive beyond what they actually lost At those old prices so if you got under $50,000 you're going to get a dollar 20 On the dollar at the old crypto prices Within 60 days of the plan's activation We're going to talk about the dates in One second then there's the larger Claims these are going to be claims Exceeding $50,000 and they're going to Get even more they're going to get 127% To 142% with the initial distributions Expected by the end of the year so Q4 2024 now once we go into the dates here These are important dates August 16th is The deadline for voting and then October 27th is the the deadline for the plan Approval and you can see right here the Initial distributions expected probably Sometime in December so massive massive
Move happening with FTX if we do get $16 Billion a large percentage of those People are just going to Market buy some Bitcoin Salon or ethereum I really Really do believe that they had this Bitcoin stolen from them they had this Ethereum stolen from them and now They're going to be looking to replenish Their reserves replenish their supply There and so massive moves on the upside We got three reasons why things could Turn bullish we got the feds we got FTX And of course we got that bullish Divergence folks so the markets are Scary right now but we just tested the Bottom of support So now is not the time To get shaken out of the market don't Let the Germans scare you into selling Your Bitcoin
