Ethereum Holders WARNING + New CPI [Inflation] Numbers = BULLISH for Bitcoin and Crypto

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Ethereum Holders 👉 WARNING! + New CPI [Inflation] Numbers = BULLISH for Bitcoin & Crypto!
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welcome back everybody to altcoin daily. if you hold ethereum you have 10 hours or less before a major change happens. I’m going to be cluing you in in this video also the recent cpi inflation numbers came out today. i’m going to tell you what this means for bitcoin and cryptocurrency   and play you a clip my name is Aaron at altcoin
daily. subscribe to the channel join the team.

We post a video every day keeping you updated let’s start with ethereum get into bitcoin and then get into a select few altcoins are you excited about the future of ethereum. do you hold ethereum? if you   do you have about 10 hours actually a little bit less than 10 hours until the last gourley test net merge goes live this is the last test net before the main net merge. meaning the merge is coming in about a month well let’s go over this what’s going to happen as ethereum merges to proof of stake soon the current ethereum main net will merge with the beacon chain proof of stake system this will   mark the end of proof-of-work for ethereum and the full transition to proof of stake.

this sets the stage for future scaling upgrades including sharding the merge will reduce ethereum   energy consumption by about 99.95 percent this merge sets the stage for a variety   of layer twos which will really help with ethereum fees and also the ethereum issuance   and the supply versus demand in general it makes ethereum more appealing to us as investors 99.999   of the world doesn’t know about the merge and what it will do for ethereum think about it   every year Ethereum’s cell pressure drops by 8 billion each issued per year today about four   and a half million each issued per year after the merge a little bit over half a million post   merge will have negative issuance due to eip-1559 burn rate making ethereum deflationary of sorts   and exactly like i predicted.

ethereum is pumping into the merge this is ethereum versus bitcoin   this is a very important chart to keep track of the eth bitcoin ratio just hit its highest   level since January this is the current chart as you can see ethereum is actually close to its   all-time high versus bitcoin the closest it’s been for a while as you can see there’s a nice little launch pad forming here re-testing previous resistance. ethereum versus bitcoin… looking great ethereum versus us dollar like we normally look at the chart looks great but ethereum versus   bitcoin which is something to keep track of is also looking bullish the only question is will   ethereum break above this resistance ethereum
versus bitcoin is showing some bullish signs   but no volume and momentum slowing down doesn’t give me that much confidence that this will hold   or break above sorry sure speculation and news can easily change this we will continue to watch

keep the questions coming in the comments we will continue to keep you posted and this is   just to let you know that ethereum just rallying higher and higher isn’t necessarily in the cards   this price chart the shape of this it does look bullish to me but we need to see that volume we   need to see that continued momentum and that’s what we watch on a daily basis on this channel   and many people are looking at ethereum and crypto in general in ways like they’ve never done before   crypto has found a floor thanks to the ethereum merge this is according to Jp Morgan which is interesting. i don’t know if you saw the recent report the takeaway is that jp morgan thinks   that the cryptocurrency market bottom could be in citing limited contagion effects from terra’s   implosion and renewed confidence in the market thanks to ethereum’s upcoming move to proof of   stake and if ethereum merges to proof of stake without any problems jp morgan says that could be   very bullish for ethereum but whether the merge is a buy the rumor sell the news event there’s still   plenty of reason i think to be bullish just going forward in general

now that the merge is about to   happen coinbase betting big on staking ahead of the ethereum merge the company aims to be   the top provider of staking services and already considers it an early win so coinbase recently   came out and said we’re gonna we want to be the primo place for institutions to stake ethereum   and we want to be the primo place for retail people like you and me to stake ethereum i think   people are going to choose the dude on coinbase just because of the ease the amount of money   coinbase is going to print from staking and q4 is nuts people will give coinbase a percentage say 20   of the staking reward to handle their eat steaks all day long

i tend to agree with this there’s no   problem with this people want to use coinbase people want to do it themselves either way i   think people will choose to lock up some portion of their ethereum and stake it for that yield   let’s talk about bitcoin and obviously crypto in general let’s talk about the consumer price index   the new inflation numbers and what this means for the cryptocurrency market bitcoin rallies as u.s   inflation cools to 8.5 percent so did you clock this today the u.s consumer price index data for   july has just come out today at 8.5 percent

20 basis points lower than economists’ expectations   the cooling suggests inflation may have peaked in june meaning the federal reserve could turn dovish   sooner than previously expected bitcoin and ethereum both surged as the numbers dropped   so what is the takeaway what does this mean i loved this person’s write-up   there are some spelling mistakes but keep this u.s inflation comes in at 8.5 percent   finally below estimates here is why that is really good for crypto just now uscpi has officially been   released and comes in at eight point five percent that’s a good margin below the estimates of eight   point seven percent and massively below last month’s cpi numbers of nine point one percent   markets will now probably start to rally and that lower inflation was crucial for crypto   to continue its rally and expand it further on
also in yesterday’s posts about inflation numbers   i laid out scenario of lower than 8.7 percent inflation and that will mostly happen now it has

especially been important as the fed will have no argument at all now to do a 100 basis point hike   and be looking at a 50 basis point hike next month that could make markets pump even more as   the fed is looking to pivot now who knows whether inflation has peaked now but the us government   will definitely make it seem that way as we’re going into the midterm elections crypto will have   less moving forward from the fed and a reversal at least for now it’s actually possible tldr   this is another indication that crypto possibly could have bottomed definitely   a relief rally will continue to happen and we’re already seeing it as bitcoin ethereum   and crypto and a lot of investable assets are going up based on the cpi numbers now   institutions have been buying bitcoin retail people have been buying bitcoin this is tom   farley far peak chairman and ceo explaining that people have been buying the bitcoin dip   bitcoin specifically because bitcoin’s the easiest one for these institutions to buy it’s you   know fundamentally the safest anyway listen to him explain it then we’ll get into some altcoin

what’s   happened with bitcoin when bitcoin was at 60 000 you had a lot of institutions on the sideline   who were looking and saying boy we’d like to invest we’d like to allocate one two three percent   of our portfolios pension funds for example but it’s 60 000 it feels toppy there’s some mania but   they’ve done the diligence they’ve met with their investment committees and so as it went down to 17   000 it wasn’t a shock to me that you saw some of those institutions step in for the very first   time buy bitcoin store it in their portfolio

so i knew there was a buyer but interesting   that those institutional buyers stepped in when it it was showing its volatility you would think   that the opposite would be true that they would want to stay away unless you think now that this   is such a critical asset class that no one can afford not to be in it yeah well it was a moment   of capitulation so i if we could see all the books and records i think would be a combination   of some really smart bitcoin whales that have been in it for 10 years and then fairly quickly   some of those institutions stepping in that’s exactly what’s happened

i mean look in crypto   yes bitcoins up 40 it doesn’t mean it’s gonna go up another 40 but in crypto there’s bitcoin and   then there’s literally everything else bitcoin is trusted it’s largely censorship resistant   there will only ever be 21 million bitcoins it will have to be a component in a portfolio of   broad portfolios like a pension fund maybe just to a small extent but it will have to be there   and then there are all other cryptocurrencies everything else looks like a speculative stock

maybe if you invest in it you make money maybe you lose all of your money one more thing to   mention uniswap continues to lead in the hearts and minds and metrics for decentralized exchanges   uniswop is the clear leader among lps considering volume as a metric with over 65   share in july so uniswap versus others you can see it’s clear it carries the market share   my name is aaron at altcoin daily again guys make sure you check out our mark cuban interview make   sure you check out this interview right here it’s a good one see you tomorrow

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