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welcome to today's video my name is madeline fools and this is madeline talks today we'll discuss

the most important macro and bitcoin news of the week we will start by talking about the bitcoin

2021 conference of the year um this conference has been discussed

many times some of them were positive discussions others were kind of negative but i will

give you my main takeaways on the main or at least the best keynotes that we saw and we will discuss

what the effects of these keynotes or at least of their vision on bitcoin will be in the near future

we will also dive deeper into the latest news on bitcoin and some macro stuff and in the end

of this video we will take a look at the price because currently we are in a very important

phase when it comes to the price of bitcoin but we will discuss this in the end of the video for

now i'm going to put myself in the right corner of this video and if you haven't subscribed to

this channel yet make sure to do so just click the red button down below and make sure to ring

the bell so you get notified when there is a new video online for now we are going to start with

bitcoin miami 2021 um i was one of the lucky ones to attend at this conference and i must say in

the beginning i was really really excited and there were a lot of people a lot of people were

trying to get into the conference we had the media pass so we were kind of lucky we could skip the

line but some of those waiting had to wait for over three hours to get in but there were some

interesting keynotes and i would like to start with the most important keynote and i think it was

probably one of the best keynotes on the old event the keynote from jack matters and you probably

know jack matters from strike and he's quite young still but he visited el salvador and in

his keynote he started by telling some microsoft the stuff i like about inflation hyperinflation

about the fat printing a lot of money and then he finally came to the story of el salvador talking

about the people there using bitcoin and um then one day the president of el salvador called

jack and he was really nervous and we see a jack we see jack standing on stage and he seems kind of

nervous you feel that the audience is is looking at him and we are waiting for the big announcement

because all of the crypto guys that were in el salvador for example peter mccorrick was there

and we saw pompeo twittering there is there is a big announcement that's coming from jack madler so

be prepared and then the announcement came and the president of salvador said next week

i will send to congress a bill that will make bitcoin a legal tender and they will

put bitcoin on their reserves as well this is the first country to put bitcoin on their reserves

and to me this is a really important thing this is um one of the most important things for bitcoin

and he said this is a small step a small step for bitcoin but a big step for mankind almost like the

moon landing and he's right for bitcoin this is just a small step but this can make a difference

for these countries who are currently having such an um unprecedented hyperinflation scenario and

um yeah everyone in the audience was so enthusiastic about what happened and what he

was telling him of course for us europeans he was crying at stage and he couldn't stop crying and

we in europe are like oh man but this was a really american way keep in mind that jack

is a really good market here and it was in the edge of maybe a bit too much or odds it's still

he's he's quite young so it's still kind of cute as well i mean um but okay that that was the most

important keynote and after that there was a lot of discussion because people on twitter said it's

freaking el salvador what does this mean it doesn't mean [ __ ] and then we have caitlyn

long and caitlyn long is uh the bitcoin mom from wyoming who started a bank which is not related to

fractional reserve banking and uh of course she's really enthusiastic about um bitcoin

but she's also giving us some extra information about what this means for bitcoin users for

bitcoin worldwide and not only for el salvador or their um people so she posted a chat on twitter

and she said if this becomes a lobby because this is still an if

the bill has to pass but if this becomes a law um it will would have many secondary effects

still yourself because a big fight is probably coming though so why is there a big fight coming

and um of course she's congratulating jack mathers the president of um el salvador as

well block stream for pulling this off and she's saying this is really big and if caitlyn long

says this is really big it must be really big so what's happening um in um wyoming they tried to

make bitcoin a legal tender but that didn't work some people on twitter were saying as well that

in 2016 china said that bitcoin was a legal tender but that didn't became true in china they made it

more like property and not like a legal tender so what does this mean for the law from the u.s

so this means that if el salvador actually goes ahead if it's doing if and it recognizes bitcoin

as a legal tender bitcoin then becomes money under a certain law and yep if el salvador does pass

legislation to recognize bitcoin as a legal tender btc will become money and money means a medium of

exchange currently authorized or adopted by domestic or govern or foreign governments

so this means bitcoin will gain special status in the banking system globally banks would likely

treat it as any other foreign currency bitcoin may get back door favorable treatment on their

bank capital requirements peso 3. so the knock-on effect of el salvador announcements is that under

other countries may follow one likely candidate has always been russia we just heard russia

some ceo or some ceo of a big bank saying that they don't like bitcoin but one candidate has

been russia which has been graduating dollara de-dollarizing since before 2008 um however this

plays out it's an historical day yesterday was an historical day for bitcoin and it offenses

adoption no matter how it plays out wonderful for all involved and she's saying congrats to everyone

most especially to the people from el salvador and then we have martha shy is and he says

if el salvador indeed makes btc a legal tender next week i believe this implies that there

will be no capital gain tax on it anymore in other countries for example the us because it's seen as

a form of money and not as an investment anymore the reason is that bitcoin is then an official

foreign currency and you don't pay capital gains on other currencies so this is huge if it turns

out to go that way but then mark furniture says i'm thinking that they might argue btc holdings

are still an investment and therefore subject to capital gains so they will find some loopholes

probably to get people still um pay to let people still pay their capital gain tax but it's an

interesting because the first country put bitcoin on their balance even though even though it's el

salvador it's a small country with a small gdp um with over like i think it was only 5 million

people but still it is interesting to see what will happen next and some analysts say say that

what el salvador will be two countries was what microstrategy did for public companies don't

underestimate their significance so the guess is that there might follow more countries the same as

caitlyn long said as well but after microstrategy not a lot other companies followed so keep that in

mind as well it all depends on how this bill will work out when it's monday and if this bill will

pass if they will put bitcoin on their official currency list um by the way what you have to

know about el salvador is that there isn't they they didn't have an own currency they just used

the us dollar so now they have the us dollar and they have um bitcoin as well as their um

form of payment so what does this legal tender mean it means that if you want to pay someone in

bitcoin you can it's an official currency you can pay your taxes in bitcoin if you want to

so this is becoming really really interesting so that's why this is so important and especially

for the people from el salvador because they now can move their money from another country

to el salvador without paying 50 in tax as well um so keep that in mind um when arguing about this

subject so i would really recommend to watch the um keynote of jack mathers to get your own opinion

about what has happened or what's going to happen what i also want to mention is that venezuela

has the third highest bitcoin adoption in the world as people increasingly use to migrate the

country's economic instability here is the amount take a look at the picture here's the amount of

venezuelan currency needed to buy this single pastry throughout the last year so this is what

inflation did with the currency inflation rates currencies and um yeah this is just what one

pastry costs and i wanted to show you because on the conference or in the conference area there was

a very big bin located with a lot of trash and the trash was this and i kept it as a souvenir just to

remind me of what could happen to a currency and this is why we need bitcoin it's because

we see that there is a lot of inflation happening right now and there are a lot of a lot of

countries that are having hyperinflation for example venezuela argentina probably

colombia as well a lot of south american companies but there will also be like iran

a turkey with the vera was hit everywhere and keep in mind that this probably not in the

same proportion but this happens to your money as well and you want to remain your purchasing power

so okay enough about this keynote then we go back to the keynote of jack dorsey and this was the on

the first day of the conference and to me this was really heavy because jack dorsey was coming

into the room and we felt that the audience wasn't very happy to see him so he sat down and

he was quite nervous or at least he was shaking a bit and jack dorsey is of course the ceo of

um square and of twitter and square is um a great company and twitter as well by the way but there

are a lot of people in the room in the audience that weren't that enthusiastic about twitter

so then we had laura loomer coming to stage when they were like in the middle of their conversation

laura loomer was asking about the decentralization or at least the centralization of twitter

after jack dorsey said that there isn't anything more important to work on

than bitcoin and he said if i didn't have my companies i of course would work on bitcoin

but he thinks that with his companies he can help bitcoin grow more so that's why he's still

working on his companies but you felt that he wasn't we everyone in the room felt that he

wasn't very comfort comfortable talking about twitter being centralized and laura loomer was

talking um during this this interview session and everyone was a bit annoyed by her um i think she's

going to do a podcast with peter mccormack as well um but she was right in the corner core of her um

over questions she was right because of course there is um no such thing as decentralized social

media twitter is centralized f and yeah it's it's it's not how it should go and in the end uh

you saw that he was getting like he didn't felt really really great but they spoke about it and

um i i kindly believe i really believe that um jack dorsey wants a better future for for

twitter as well but he wants to improve bitcoin and that's what he does with his companies and um

so he wants to be an accelerator but uh he didn't felt good about twitter and in

the end after his keynote he posted on twitter a tweet on which he said i get it and i appreciate

it so he got it even though people were like booing to him and so he got what the audience

wanted to tell to him and i think that he will find a way to improve what has to be improved

then we had lynn alden lynn alden talking to miss stark and mr arkis from lightning laps of course

and then alden you know her as the one or at least one of the most important um women when it comes

to finance and when it comes to bitcoin not only bitcoin but also investing and the inflation um

the macroeconomic subjects and she is amazing she's amazing and she spoke about the network

effect of bitcoin so it wasn't about bitcoin for billionaires but it was about bitcoin for

billions it was a really interesting case that they were building they were uh talking about a

lot of subjects uh together and um i think this is a must watch because it's one of the best um

keynotes from the whole day then we go back to plan b but before we go back to the cross asset

mast model the stfx model i wanted to tell you about the audience or the audience the conference

area because the conference area consisted of a lot of different areas we had the main stage

and of course bitcoin 21 2021 has been discussed uh quite a lot because some people were saying

that a lot of keynotes were awful and there were some keynotes that were awful i agree i agree but

there was more to that and of course we had seen michael sailor coming to stage and everyone was

yelling and the audience was going mad and i know i know but there was more there were

like six or seven different stages we had an art room there was a room with several companies and

to me to me it was like really well organized on the second day especially

and um i wanted to talk about the art because there's a lot um there's a lot going on about

digital art for example the nfts and we found an art stand with some woman called patek

and she makes amazing art from the stock to flow model i even accept plan b about this

um art and i said you must see what what's going on here this is insane it's so pretty and he

told me that he has one of her pieces at home and when we know where to live we will definitely buy

one as well because they looked so pretty this is one and there were like several other um different

it's here you see it it's so pretty there were several others as well um with a lot

of red and uh the complete stock to flow model with the halvings and with dollar bills combined

it was so pretty but okay we're going back to the stuck to flow model and we had the may close on

the end of may now it's june it's the 6th of june and we knew that bitcoin would go up it wouldn't

go up in a straight line is what plan b said and several minus 35 drops are still possible and

indeed likely in a bull market starting to look like the 2013 cycle according to the stf and the

stfx model so for now we just have uh had a new dot evolving and the other one for june is still

here but we have to end the month but plan b isn't really um negative about what the model looks like

it just looks like 2013 we have seen it and after 2013 it took on two three months before the price

hit a new all-time high and then in two months it hit like an insane an insane price and um in 2000

if this happens as well we have june july and then september and after september then the

price will go up again if we fall out the 2013 phase then we had a plan b retreating this tweet

of jeff dorman jeff dorman is tweeting about institutional interest from digital assets

and this can be seen in the first 10-day return of each month large token largest token from each

sector as a proxy so what's happening here fund flows come in on the first of the month

and all indication from the otc desk and fund suggests another record month of inflows

so today's rally or at least the rally of the last day of the of may has been sparkled by the new

money being put to work through otc channels so what he's saying is that it seems like a dangerous

time to be short based on the previous patterns and investing in influence pattern recognition

by patent recognition and uh we will discuss this when we are going to look at the end of

in the end of this video we were going to discuss what the um chart looks like

right now and i must say that i completely agree with plan b with jeff dorman and when looking

at technical analysis as well this is where it all combines together and then we had anonymous

uploading a video on saturday afternoon when the event was still ongoing everyone was

kinda nervous or interested excited about what anonymous has to have to say about musk's crypto

tweets even anonymous had an opinion and the video was kind of exposing elon musk as a ceo of tesla

so what they said and this is something that i've said before like two or three weeks ago the video

accuses the tesla ceo of abandoning bitcoin as a form of payments in order to keep government

subsidies and i've i've spoke about this before because tesla receives a lot of government

subsidies and the company itself can survive without these subsidies and the subsidies are

based on a greener economy and if you are into bitcoin that isn't really like um super super

energy friendly even though bitcoin uses 75 renewable energy it isn't really energy friendly

from the standpoint of the government or at least from the u.s government so this is what the video

is about another interesting video to watch it there's already um a really short video as well

um and they said uh the hacker group further calls musk a recent move to create bitcoin miner console

in an attempt to control the industry and in no time this video had over a million views and in

the end of this video anonymous said to elon you may think you are the smartest person in the room

but now you have met your match we are anonymous we are a legion expectants as they always say and

despite the numerous people having posted a copy of the video to elon musk's twitter feed the ceo

yet to has yet to directly respond however musk did post a tweet on saturday afternoon that could

be interpreted as a response because he tweeted don't kill what you hate save what you love and

in addition to that musk's profile picture was changed to completely fill backs black circle

that could be referred to the color of most associated with anonymous or maybe not because

elon musk is always trolling so i would recommend you to watch this video it's quite an interesting

video to uh to see about elon musk's past and then we had 300 companies seeking for a singapore

crypto license and at the comfort conference a bit licensed a crypto license was discussed

very often because a lot of the bitcoiners are against licensing are against uh putting crypto

or putting bitcoin in boxes and i can agree with them but i can also agree that the regular

financial sector needs to have some bases and we found out that there were a lot of companies

that were seeking for singapore crypto license um among these companies were alibaba and google so

companies apply under the payment surface act a comprehensive regulatory framework for companies

handling activities relating to digital assets including payments and trading but what we ask our

ask ourselves is why are alibaba and google among these companies um we're not sure yet um giving

license to somebody is a premium it's not something to be taken lightly we are unsure

what whoever gets the mass license will be credible so we don't know why they have

registered for a license maybe they just wanted to do so maybe they want to even sign we're not sure

but google by the way gave last week a green light to all the companies that wanted to advertise on

google in the us they had a band since i think it was 2016 2017 maybe even 2017 late 2017 and um now

they the companies can advertise via google again it's for now only in the us but we expect that it

will go through asia and to europe as well then we have gbtc having the premium still negative we

are in a very interesting phase when it comes to bitcoin and there is a big price move expected of

at least 10 000 dollars i will show it to you when we are going to look at the um bitcoin usd chart

we do it by the end of this video it's going to take a couple of minutes more but we are seeing

something that's interesting the gbtc premium stays negative for over three months as it holds

decline gradually while bitcoin price suggests around the 37 000 mark so what's going on here

um i will show you in this chart here we see the chart this is the grayscale premium on the normal

price of bitcoin so the premium is now a minus i think it is minus 12 and a half percent or so and

why is the premium lower than the actual price of bitcoin this means that there is

not enough demand um the mom i'm i think it's demanding demand i don't know

gbtc is one of the most convenient convenient and secure points of entry for institutional funds so

this means that funds are not really interested in using gbtc to buy bitcoin it looks like their

demand was one of the drivers early in 2021 when there was a big premium we saw premium

over here in the beginning of 2021 here you see that the premium was at a high of 20 percent

so um but it slowed down and we no longer hear her new entities claiming that they have decided

to diversify and are trying to hold blockchain assets they're the first of its blockchain but

let's name bitcoin um if you buy and sell and the premium is the same the impact is minimal

recently there are more easy and comfortable ways to access bitcoin so the premium of grade

school has fallen and now it's at a discount discount relatively to bitcoin nav so the

interest for gbtc has fallen and this could have something to do with the other routes that you can

um take if you want to get bitcoin as an institutional investor you can

use um a fund in canada now there is one in europe so it's spreading more you can get easy access to

bitcoin for example the etfs and the etns so this doesn't only have something to do with demand

and supply because it it's always it also has to do something with the competitors and how

easy it is to get bitcoin via other ways or maybe even the real bitcoin accessing it um

themselves as institutions uh want to own bitcoin instead of owning it via another party

but um this doesn't mean that the sentiment is very negative though but some say that we can use

jbtc premium as a very good indicator for meter market sentiment and the premium turned negative

at the end of april that's what we see over er here it turned negative at the end of april

and um while the digital asset experience the local boom lack of institutional interest

predicted mace market cap shrinkage and now we see that there is more interest interest in bitcoin

via gbtc but still not as high as we have seen um

before in january 2021 um but still it's quite interesting to see that we are going up again

over here and this can also have something to do with the competitors and the other

options to buy premium to buy premium to buy bitcoin as an institutional party then we had

one of the most important things when it comes to macroeconomics and this is the first and the

last one because we spoke about bitcoin 2021 so much today um i will leave this one this only

macro news on your side um so we had the um world food prize year on year and this is the food prize

rising in 2021 and look at how fast this food price is rising the global food prices have spiked

is what jerome blue blonde says and it's at a 40 or at least a 39.7 year on year increase so that's

insane keep in mind what's happening with your money what's happening with the purchasing power

jack matters spoke about this go watch his keynote from the conference and really keep in mind why

we need something as bitcoin we need some currency or at least we need a currency

that is not related to money printing or at least that we can't print endlessly so this

is what happens when the federal reserve or the european central bank remains to print

money the prices have spiked over the last couple of months over the last couple of years and keep

in mind that this is why bitcoin is so important we are not only experiencing um hyperinflation

things or at least inflationary things in el salvador or in venezuela or in argentina or in

iran we are seeing it ourselves as well we see it in holland as well we see it in mexico as well so

keep in mind that this is everywhere inflation is everywhere and your purchasing power is going

down every month every day so that's why this is really important we will discuss the macro news

next week again and for now we're going to take a look at the chart of bitcoin i will start by

looking at a four hour chart um as you can see this is a period from the beginning of may until

the beginning of june until now and we are currently in this very big symmetrical triangle

and this symmetrical triangle has a target point of at least 10 000 usd so i wanted to show you

how i came up with this target we are using the bodies of these candles and then we can like

calculate what the difference is between the bodies of these candles by the way i'm using

a high kenashi candles not normal candles because in high kinase you can easily

spot these movements and the rsi works way better when using hiking ashy then we had this rising

wedge price went down again and now we're in this some sort of i don't i don't even know what what

what this looks like but it's more like a downward trend um and we are waiting for the big breakout

it can take more than a week from now until the 15th of june usually we break out right before

we end up here so we're probably gonna break out earlier and then we are waiting or at least

that we need to wait for the spike and for the confirmation so what's the confirmation we want

to break out downward preferably upwards of this symmetrical triangle if we break out we usually

go until let's say the last resistance then we go back and test the old resistance over here as

a new support line if we tested the new support line then we can finally move out upward again

and for now we just have to wait what way this breakout will be so if we break out downward

then we have like 25k um target point if we break out upward we have uh 47 48 maybe even maybe a

bit lower i don't know yeah it's 47 47 um target point and for now we just have to watch we just

have to wait there is nothing more to say we're gonna break out and this is gonna be a huge move

we know this for sure and maybe we have to wait until monday starts again maybe even to tuesday

or maybe it's gonna happen the end of this week we don't know yet but this is gonna be a very big

move and it probably isn't going like uh vertical this way but we will do this in several moves

upward or we do it in several moves downward um if if we go downward then it will go quite fast um in

my experience downward moves are always way harder than upward moves way faster than upward moves

so keep this in mind we are going to wait for the higher volume on the breakout then the breakout

will be confirmed and right now we currently have to wait to see what the big move will be oh and by

the way before we end this video i've had a lot of questions from you about doing technical analysis

about doing uh trading and using the best exchange for buying bitcoin or selling bitcoin or even the

margin trading leverage trading if you want to do so make sure to only do this when you have

experience in doing technical analysis so if you want to know more about that

i have some recommended platforms down below in this link you can use this link if you want to

we've got some discounts as well so make sure to use them and for now we'd really like to thank you

for watching this video i would also like to know if you would have gone to um bitcoin 2021 and if

you like the videos that have been published maybe you have watched the live stream let me know about

what you think of the announcement of el salvador and what you think of jack dorsey and twitter

being centralized instead of decentralized um put it down below in the comment section

i would really like to know your opinion about it and for now i would really like to thank you for

watching and make sure to follow me on twitter and on instagram because you will get notified

fight about the last news on bitcoin about macroeconomics about charts as well if we

make out you will be the first one to hear and please don't forget to please push on the blue

button and i hope to see you next week again with the new loot dogs for now have a great week



The Description of 🚨BITCOIN2021 Miami recap my option & huge BREAKOUT | #8 Madelon Talks | The Future Standard