$320K BITCOIN PREDICTION WITH $16 TRILLION CRYPTO MARKET CAP, ACCORDING TO CONSULTING GIANT BCG! - Transcripts
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In today's show the in theory emerges completed, here's what to expect next quoting vitality here. Happy birthday Beacon Chain, Here's an updated roadmap diagram for where ethereum protocol development is at and what's coming and what order. And he also shares here the emerge will reduce worldwide electricity consumption by 0.2%. Also in today's show, Bitcoin can plunge by over 30% before bottoming out according to crypto strategist and shares his timeline, quoting crypto Capo current pivots is 21,000 clean break below here in 19,000 is next break 19,000 and it goes to the main target of 14 to 16,000 for the last low. It can still go to 23,000 to wreck early shorts, but I wouldn't be bullish here and has pointed out here, 65% of all the Bitcoin supply has not moved in over a year where my diamond hands at. Also in today's show a three and will introduce something magical after the merge says macro guru, Raul, Powell, quoting him here, post merge. A few things happen. There are no miners to sell every day. That's about six billion that just disappears from selling each month. Okay, that's the difference. Also in today's show on chain expert Willy Woo says Bitcoin hasn't reached max Payne just yet and explains why that's right quoting him here. Have we bottomed in terms of max Payne, the market has not felt the same pain as prior bottoms.
We have only reached 52% of the coins being underwater. Thus far. Prior bottoms were 61% 64% and 57%. History doesn't need to repeat, especially in the modern error with futures hedging available that is not picked up on chain. But if we do repeat with a max Payne recent 60% of the supply underwater, that price is currently at $9100 and slowly drifting upwards with time. Also in today's show, here's a $16 trillion Blockchain op opportunity for 2030. That's right. According to the boston consulting group. The value of tokenized assets worldwide will exceed $15 trillion by the next eight years. An amount estimated to be equivalent to 10% of the global gross domestic product. Then quitting them here. The total size of illiquid asset tokenization globally would be $16 trillion by 2030.
Send it also be taking a look at the overall crypto market all this plus so much more in today's show.
what's good crypto fam This is first and foremost a video show. So if you want the full premium experience visit our youtube channel at crypto news alerts dot net again, that's crypto news alerts dot net. Alright, welcome back to another episode of crypto news alerts. I'm your host, J. V. Welcome to podcast episode number 1048 of the crypto news alerts pod, a major day in crypto history today as ethereum Blockchain has successfully completed its shift away from proof of work to a proof of stake consensus following the merger of the main net and the beacon chain. So congratulations saw Hodler's. The merge took place at the middle of the night this morning as the network shifted the proof of stake seamlessly seeing hardware based miners replaced by validators that steak ethereum to process transactions and add new blocks to maintain the network. Are you getting ready for an upcoming move relax anchor storage solutions will bring a portable storage box directly to you so you can work at your own pace and if you need it moved to your new residents anchor storage solutions has that covered too. Plus they offer month to month rentals and climate controlled options. It's the best value in south Carolina. So what are you waiting for, learn more today at my anchor storage dot com.
The most pertinent question in the crypto space is what happens next. The theorem foundation has always worked on a long road map of development milestones and emerge is no different quitting vitality butter in here. Happy birthday beacon chain. Here's an updated roadmap diagram for where ethereum protocol development is at and what's coming and what order and he puts in parentheses, I am sure this is missing a lot as all diagrams are but it covers a lot of the important stuff Now, theorems co founder of Italic previously outlined a five step gradual process that will bring the smart contract Blockchain to what he described as the endgame of ethereum development. The end goal would see the network capable of high block frequency and block size as well as the ability to process thousands of transactions per second while remaining sufficiently trust liss and censorship resistant emerged was the first step in a five part process which has since been elaborated upon a number of ethereum developers, ecosystem participants and commentators. The key change of the merge is the drastic reduction in power consumption, reducing ethereum energy usage by now, 99% hours before the murder took place. Budarin quoted ethereum researcher Justin drakes estimate that the event would also reduce global electricity consumption by 990.2% as vitality shares here. The merger will reduce worldwide electricity consumption by 0.2%. And the second important change brought about by the shift to proof of stake is the reduced issuance of through rewards to validators for their work, maintaining the network, making it become a deflationary asset. Now 2023 is earmarked as the year of ethereum will implement. Show starting an important step in increasing the scalability of the Blockchain ability to store and access data. The ethereum foundation describes charting as the process of separating a database horizontally.
To spread the network's workload, ethereum will use charting and synergy with layer to roll ups by splitting the large amount of data across the network. This should reduce the network congestion and increased transactions per second is to decentralize alternative to making a database bigger, alleviating the need for validators to store all of the networks data themselves, which could require powerful hardware. It also means that the average user could run in ethereum node or clients on personal devices such as Pcs and mobile devices, making the network more robust due to its increase the centralization of the last three steps. In the ethereum. Ongoing development following the merge are set to take place over the next few years. The verge is the third part of the theorems ongoing roadmap outlined by Budarin without getting too technical. This that will involve the introduction of vertical trees, which will optimize data storage and node size as buddha explained in a deep dive back in june of 2021 vertical trees serve a similar function to Merkle trees which total all transactions in the block and produce proof of the entire set of data for a user looking to verify its authenticity quoting him here. The key property that vertical trees provide however, is that there are much more efficient and proof size. Now the cryptography is slightly more complicated but Budarin highlighted that the reduction and data size of proof would be sufficient to make stateless clients viable. So what should you
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previously explored. Stay acres. Looking to become full validators of the ethereum Blockchain have to commit the 30 to eat in order to do so. A common misconception was that these takers might remove their steak once the merge was complete but to ensure network stability validators will only be able to withdraw their state once the shanghai upgrade takes place which is earmarked to take place in the next 12 months. So validators can also receive fees for processing transactions which are credited to their non staking validator account. So there you have it, how many of you currently bullish on post merge? Let me know in the comments right down below and before I break down next door the day Bitcoin can plunge by over 30% before bottoming out according to crypto strategist. But first let's take a quick look at the overall crypto market, you can see all the major kryptos are currently correcting and in the red with Bitcoin down 300.67% for the day, maintaining above $20,100 as ethereum is down 0.8% trading back under $1600 while finance coin, polka dot avalanche X. R. P. And card. Oh no all attracting and in the red while Selena and adam and light coin are breaking out and in the green.
But right now let's break down our next time of the day a widely followed crypto asset trader and analyst is warning that Bitcoin has the potential to plummet by over 30% from the current price action. If a key support level Crumbles that's writes anonymous crypto analyst Kapo tells us half a million twitter followers. The Bitcoins main downside target lies between 16 to $14,000 which is a drop between 21 31% and while warning the bit I could bounce the 23,000 from the current levels, the analyst says that the largest crypto asset by market cap is likely to bottom out once it hits this downside target putting the analyst here, current pivot is 21,000 clean break below here in 19,000 is next break 19,000 and it goes to the main target of 14 to 16,000 for the last low it can still go to 23,000 to wreck early shorts but I wouldn't be bullish here and crypto analyst Justin Bennett chimed in, I agree with those levels but my final target for coin is slightly lower and I am not sure we will stop there given the structures on the smp and total in the mid Bitcoin's recent drop of approximately 10% from a high reach last august capital says that the flagship crypto asset could jump to a resistance area located between 20 to 5 and $23,000 as he shares here. Bitcoin before and after perfect rejection from the resistance zone between 20 to 5 and 23 K. Currently sitting at support, we could see a bounce to form another lower high or the 23 but it would still be bearish every bounce is a short opportunity. So there you have it, let me know if you agree or disagree with the crypto analysts and this just in 65% of all the Bitcoin supply has not been moved in over a year where my diamond hands at and long term Hodler's make some noise in the comments below. And before I break down next day today, ethereum will introduce something magical after the merge says macro guru raoul Powell. But first let's take a quick look at the overall crypto market cap still sitting under that $1 trillion milestone with about nine two billion in volume in the past 24 hours. Bitcoin dominance back on the decline at 39% with the ether dominance at 19.7% and checking out the top 100 Cryptocurrency gainers in the past 24 hours we have Golem leading the pack of 22% trading at 37 a half cents followed by Celsius up almost 10% trading out a dollar 92 followed by ethereum classic up 4% trading at $38.42 and checking out the top 100 Cryptocurrency gainers for the past week. You can see raven coins, they're leading the pack up 70% Celsius 50% and ate up 15.2%. And checking out one of my favorite indicators is the crypto greed and fear index shows we're currently rated at 28 to 100 in fear yesterday at 27 last week at 20 and last month of 44 in fear. And if you're not familiar with the crypto greed and fear index, extreme fear can be assigned investors are too worried that could be a great buying opportunity, A k A B T F D by the african dip.
And when investors are getting too greedy that means the market is due for a correction right now. Let's break down the next day the day Real Vision ceo Raul Powell says the theorems transition to a proof of stake will bring something magical to the top smart contract platform. And a new interview on Real Vision crypto, the macro guru says investors will flock to ethereum after it transitions because yield will be introduced to the protocol pal notes that this is particularly exciting to the crypto industry as it is slated to also see a supply shock due to mining being obsolete and a proof of stake consensus mechanism as he shares here, post merge. A few things happen, there are no miners to sell every day, that's about six billion that just disappears from selling each month. Okay, so that's the difference. Then we got the reduction in supply but that's really driven by the increase in network activity. We need to see the network go up a lot for that to really kick in. It becomes deflationary but it's less inflationary, there's less around but that's when we've got this magic, the magic is you've been introduced to yield into an ecosystem in a secure way. So therefore this going to attract new people into the ecosystem who want to get teeth for yield and according to pal, the combination of rising demand and dwindling supply means that the next year should be a good one for the digital assets industry as he shares here. You've got a demand shock. Also the lack of environmental, social and governance restrictions that people have a Bitcoin falsely. So, but I understand that that's the mandate that people have got.
So you've got people who are frustrated who want to invest but couldn't because of E S. G. And Bitcoin, they're waiting for the ethereum urge to happen. So now has yield, you've got this technology asset that represents a big exciting future with a yield and a limited supply and a macro that's changing to me that suggest the next 12 months will probably be very good for digital assets. So there you have it let me know if you agree or disagree with the macro guru and to watch this video. He did entitled asked me anything, check the show notes below the video in the description and before I break down next door the day on chain expert Willy Woo says Bitcoin hasn't reached max Payne just yet and shares why as well. This here's a $16 trillion Blockchain opportunity for 2030 according to consulting giant the BCG. But first I want to remind you to smash that show more button right below this video in the description. For detailed analysis of what's going on in the crypto market, this goes for all 1300 plus videos right here on my youtube channel. And if you're not already subscribe, you know what to do. Hit that bell icon turn on all notifications will smith that like button and drop a comment below as it helps out tremendously with the Youtube algorithm and greatly appreciate your continued support and of course you can follow me all across all the major podcasts and platforms from Spotify, home of the joe Rogan experience to Apple's itunes and google play and all across social media from crypto, twitter facebook telegram, instagram and Tiktok wherever you're at, be sure to plug in and follow me there right now let's break down our next story of the day on chain analyst Willy Woo says Bitcoin hasn't bottomed out just yet based on under the radar metrics, the analyst tells us one million twitter followers. The Bitcoin has not seen the same pain as the previous bear markets when looking at the Bitcoin markets cost basis metric, which can show how many coins are underwater from the time of purchase quoting him here.
Have we bottomed in terms of max Payne, the market has not felt the same pain as prior bottoms. We can see this in the blue line, we have only reached 52% of coins being underwater so far. Prior bottoms were 61 64 57% which you can see here in this chart while the current bear market bottom doesn't necessarily need to bleed out as much as in the past. Who said that if it does a max Payne target near $9000 per Bitcoin might still be in play as he shares here. History doesn't need to repeat, especially in the modern era with futures hedging available that is not picked up on chain. But if we do get a repeat with max Payne reaching 60% of the supply underwater, that price is currently at 9100 slowly drifting upwards with time. And the popular analyst says that before he starts thinking about flipping bullish on Bitcoin, he wants to wait for a break in the trend of the Bitcoin supply and profit as he shares here, which brings me to one of the signals I'm watching before rotating capital back in supply and profit trend line break. It broke cleanly and all of the prior bear market bottoms. So there you have it. What are your thoughts surrounding willy Woo's $9100 Bitcoin floor price prediction? Let me know in the comments right down below. But all right now, let's break down our final story of the day boston consulting group believes that Blockchain technology presents a massive business opportunity by 2030 let's go.
The global consulting giant says in a new report that on chain asset tokenization can help address the challenge posed by asset illiquidity according to the boston consulting group, the value of tokenized assets worldwide will exceed $15 trillion by the next eight years, an amount estimated to be equivalent to 10% of the global gross domestic product. Then quoting them here, the total size of illiquid asset tokenization globally would be $16 trillion by 2030. Send it now the value of tokenized assets are currently sitting at about 310 billion dollars. Which you can see here in this chart Now the global consulting giant says that one of the characteristics of illiquid assets which include land fine art commodities and private equity is they are typically undervalued, putting them here all else being equal illiquid assets typically trade at a discount versus liquid assets and are characterized by high stock to flow ratio, lower trading volumes and in perfect price discovery versus liquid assets. And according to the boston consulting group, asset tokenization assist and unlocking the value of illiquid assets, quitting them here. On chain asset tokenization presents an opportunity to obviate many of these barriers of asset illiquidity as well as the current modality of traditional fractionalization on chain asset tokenization helps reimagine the end to end process of finding and matching investors with investment opportunities and the subsequent secondary market opportunities. Once an investment has been made. So there you have it. What are your thoughts surrounding the $16 trillion crypto market cap prediction. And if we run the math and 16 X the current Bitcoin price of today at around $20,000. We're talking about a $320,000 Bitcoin price by 2030 according to this math. Let me know if you agree or disagree.
And the comments right down below now for a quick recap to cover with you here in today's show, I shared that the theory emerged is successfully completed and what to expect next as well as Bitcoin can plunge by over 30% before bottoming out according to crypto Capo as well as the theory will introduce something magical after the says macro guru, raoul Powell and I shared what that means as well as on chain expert Willy woo says Bitcoin can bottom out and reach max Payne of $9100 and also shared this bullish price prediction of a $320,000 Bitcoin price. If the crypto market cap did indeed hit $16 trillion by 2030 but where do you feel the Bitcoin price is likely to go next. Let me know in the comments right down below Now for the top three comments from yesterday's episode Pesa wrote more than four X. The current Bitcoin market one day all this will be reversed and the Bitcoin market cap will be massive. Damn straight send it. Our next featured comment comes from steve hubs under $20,000 Bitcoin and under $2000 is now so time to buy dollar cost average and Hodel sage advice, let's get it on the third and final featured comment comes from Nate. Great job once again JV could be interesting tonight. Apparently the theory emerged will occur at midnight. Will it happen? Well it did right. The timing of yesterday's big market and crypto drop because set the stage nicely as well as the timing for the long term Bitcoin downtrend line and R. S.
I both kissing breakouts as pointed out by Svensson, Go ethereum and Bitcoin baby and yes, will smith that like button as always Nate. I appreciate your continued support and if you're watching this not already subscribed to the channel, you know what to do. Hit that bell icon turn on all notifications will smith that like button as Nate just suggested and drop a comment below And I look forward to seeing you on tomorrow's episode peace.