Crypto Breakdown

Episode Summary:

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

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Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody happy Monday. Hope you had a wonderful weekend. My name is Joe Dewitt, and this is the crypto breakdown day. I'm going to do a little bit of a crypto wallet, 1 0 1 and educate you guys on what crypto wallets are.

 Some of the good ones, the differences between them and what to look out for. So a really basic description of a crypto wallet. B, you can think of it as your bank account. So your crypto wallet is actually what holds your digital assets. It is you as an hound, but it's not necessarily an account as a decentralized application that stores all of your assets on an open network.

You need to store your assets in a wallet in order to actually. The crypto a decentralized wallet is best. So when you purchase a cryptocurrency off of an exchange, Coinbase, finance, whatever you prefer, your crypto stays in their centralized wallet, which means they control your assets. They control your crypto.

Now, after you purchase your crypto, it's your job to move it to your personal decentralized wallet. Now, each cryptocurrency, if they're layer ones, they have their own wallets because they're all on different networks, right? So you can think of Bitcoin theory. Salana they all coexist, but they're on separate networks.

So they need their own network wallet. There's also a difference between wallets, which there's two different types of software, wallet, and a hardware wallet. A software wallet is something that lives on your computer. It's usually a Google extension or an app, and you can also have it on your phone. So it's a mobile.

And your actual seed phrase will live on your computer or on your mobile device. Now, a hardware wallet is much, much safer because it's essentially why we call it cold storage. It is a hard drive device that you physically plug in to your computer. It holds your seat for you. On the actual device and you use it to confirm your transactions.

So it is just a much, much safer alternative to a software wallet. Now it also completely depends on your risk tolerance and how much crypto you're really trading if you're just buying occasionally here and there, and you're not necessarily looking to use any utility and move them around and activate any dabs than keeping it in a software wallet like trust wallet for Tresor might not be a bad idea.

But someone who's very actively trading, connecting to a lot of wallets, buying a lot of NFTs, actively trading. It may be very smart to look into some sort of cold storage like ledger, just to add maximum security to your assets. Now for Bitcoin, some of the top wallets I would recommend would be a trust wallet, and there's also exited on those two are highly rated and a fairly secure personally, I would always go with less.

If you have the choice to go cold storage, but if you're looking just for a simple software wallet on your mobile device, trust Walter Exodus would be a great choice for Bitcoin Ethereum wallet. I wouldn't recommend any wallet. That's not mad at mask personally. Just because Metta mask supplies so much utility, you're able to connect to pretty much every dab using it.

It's the most popular Ethereum wallet. Definitely the most secure and it has the most utility you can. Multiple networks to it. So you can actually add Binance as well. So you can add your Binance tokens, anything that lives on the Binance blockchain, you can also put on Mehta mask, but it is mainly for Ethereum ERC, 20 tokens, which means a theme right to contract, but it is a great wallet.

The interface is a little clunky  becoming a little bit outdated, but overall it's a really great DAP and allows you to do pretty much anything you want with your Ethereum. And then something like doge coin can also be held on. Or trust wallet, Trezor, or even ledger. And that's really up to your own personal opinion on which one you prefer.

Some people prefer the trust wallet, mobile layout, more than mathematics. Some people refer them at a mass for its utility in being able to connect to multiple dabs. Some people would want a cold storage wallet just to be completely safe that no one has access to your crypto talk completely relevant to what you want.

And at the end of the day, it's really important just to do a little bit of research on each individual wallet to see necessarily what. They're not going to be that much different. It's just pretty much going to be layout features. Security is going to be very similar for these software wallets.

 Just some key things to take away would be keeping your assets in a centralized wallet like Coinbase or Binance means that they are completely in control of your assets. It's the exact same thing as a bank. I like to make the comparison. It is not your money until you spend it. You just buy it and keep it there for them to.

And for them to pay you out when you want to take it. So the important thing is moving our assets over to a decentralized wallet of your choosing, as well as understanding the differences between a software wallet and a hardware wallet. If you guys have any questions, feel free to DM me on Twitter or send me an email.

I would love to answer those, but that being said, it's all the time we have today. Thank you guys so much for tuning in. You can fall and subscribe to our podcast, which is all in the description below. Have a great Monday

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Episode Summary:

On Toda's episode of Crypto Breakdown host Joe Dewitt looks at the 3 NFT Projects to keep on your watchlist that are under 1 ETH.

Winterbears

DoodlePunks

Angomons

Gas Fees: Fees you pay other people for verifying your crypto transaction. ETH gas fees are higher than SOLANA fees therefore making NFT transactions more expensive.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

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Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

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Episode Summary

On this episode for Crypto Breakdown host Joe Dewitt ranks the crypto assets that are popular for gift giving in the holiday season.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Support this podcast at — https://redcircle.com/crypto-daily/donations

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BENZINGA GLOBAL SHOWCASE FOR SMALL CAP INVESTING

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DECEMBER 8-9, 2021

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Episode Summary

On this episode for Crypto Breakdown host Joe Dewitt ranks the crypto assets that are popular for gift giving in the holiday season.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Good morning, everyone. Happy Wednesday. My name is Joe Dewitt and this is the crypto breakdown. Jumping straight into it. Taking a look over.

Bitcoin price is struggling to regain after this massive dump over the weekend, Bitcoin currently down a three and a half percent on the day, and it looks like prices falling back towards that 200 day. Moving average, ideally, here for Bitcoin price gets a reversal off of this 200 day. 46,000 and gains a little bit of buying pressure and momentum and the upwards direction.

So we can get back towards all time highs on the bear stance. If price gets rejected from this 200 day moving average. So ideally we will not be falling below that 40,000, maybe 41, but worst case, we may see a correction down to there. One thing I do like to mention is the relative strength index, which I've mentioned before, which is indicating if something.

Overbought or oversold is very low right now sitting in about 27%, which means that Bitcoin would be considered oversold. Taking a look over at Ethereum. Ethereum is down 1% on the day. Price has formed a doji, which if you were unfamiliar with the Doshi, it is one price action opens and closes at the same price, which indicates a lot of struggle.

 In price range, it means that people are struggling to move the price. Price has evaluated where it is now. And this doji is formed right below the 4,300 resistance, which is a strong resistance level of flipped support. We've used many times, which is now currently being used as resistance.

And it looks like price got just rejected from it and is slowly moving down towards this 3000 support level for a theorem, looking at the daily chart. My educated guess would be. Descending triangle breakout here. It does look like we are forming a little bit of a wedge. If price actually continues to fall down towards that 3,900 support and holds that level it looks like we would be in a strong position for a breakout in the uppers direction.

And personally, I do not see a bear stance on Ethereum right now, considering that a few days ago with that insanely massive dump. Ethereum was reclaimed all in the same day, which is absolutely ridiculous that candlestick the wick of the candle stick is absolutely massive meaning that people sold and bought it all up within the same 24 hours, which was a very bull sign, meaning that bulls are in control of the market.

So keep an eye on a theorem, as it looks to push above this 4,400. And we're going to take a look over at MADEC, which is the polygon. This is a side chain for scaling Ethereum transactions, and it actually looks great to considering other coins like Bitcoin and the dump that just happened. MADEC has actually been pumping here and it has actually flipped a crucial resistance to support and it's tested it three days in a row.

MADEC is up 4% this morning and it just looks absolutely fantastic. I wanted to mention it because it broke a a previous local all-time high, not, it's not as all time high completely, but it's local. From the last couple of. And it has been accumulating higher lows as well as higher highs, which is an book, a very nice indication of an upwards trend, but flipping this resistance as supports and using it a few days shows how strong it is and if we could get.

Bouncing off of there into the $3 for dollar range. Definitely worth keep your eyes on MADEC as I could definitely see it, gaining some buying pressure. And today, guys, I'm going to break down this little block five survey that found one in 10 Americans are willing to gift crypto for the holidays.

So within the study they found only 2% of Americans are actually interested in receiving NFTs as a gift where less than one in four Americans actually know how to give crypto as a. Whether that be forming a private wallet and gifting it or sending it to a loved one's wallet just in general.

 One in four Americans don't know how to actually gift it. Not quite coming out of surprise. Gen Z is twice as likely than other generations to give away. Crypto as a gift seems fairly predictable that the generation using it the most would use it as a gift here as well as men are twice as likely to give crypto as a gift, then.

This also may not come as a surprise being Bitcoin is the number one crypto choice for the holiday gift with dojo and Ethereum ranking second and third. But which is interesting is that millennials and gen Zs actually want doge coin instead of Ethereum, which is what I thought was interesting. And this.

People are looking for more meme coins rather than utility fundamental coins, which I think is very interesting. And I think we'll see a little bit of a mind shift over the next few months. As people start to allocate towards more useful utility tokens projects, that's all the time we have today.

Guys. Thank you so much for tuning. You can fall and subscribe to our podcasts and follow me on Twitter, which will all be in the description below. Have a great day

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Episode Summary

Why Time in the markets beats timing the market.

What is dollar cost averaging?

On this episode of The Crypto Breakdown, host Joe Dewitt talks about how to apply the old saying Buy The Rumor Sell The News to crypto assets.

Why Ethereum is more BULLISH than Bitcoin

The end of Dogecoin as we know it?

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Happy Tuesday. My name is Joe Dewitt and this is the crypto breakdown. It has been a long weekend for Bitcoin. and for the following altcoins, everyone, I'm sure we are well aware.

Let's get right into it. Taking a look over at Bitcoin fell to that 44,000 support that we mentioned in previous episodes. I've been talking about that 58,000 support on that Bitcoin was trading just below. It was weaving between for about a week here. And it's struggled to claim that 58,000.

Again, it tested about three times on three different days, struggling to get above that crucial 58,000 level of results. Was a very bear sign here, which caused price to fall fell down pretty much to that. 42,000 a level of support here and quickly got bought up. And just the same day currently sitting at 50,000 Bitcoin is up 6% on the day and it looks like we're up trending in the right direction here.

I will say, be careful of that 200 day moving average as price could continue to fall here. Ideally, since it did test. Port, we will be moving in the upwards direction. Although with a drop like this, you never be too sure. And there is also the possibility of continuing to fall back to that 44 for an ultimate retest, taking a look over at a theorem.

Ethereum is up 8% on the day. Now Ethereum actually looks  really bullish here. Buyers are controlling the market. Essentially. This is a bullish market. People tried to dump off their Ethereum. Just quickly bought up this resistance here at 4,300 will be very crucial depending on what it does today or tomorrow.

Getting above this resistance would be a very bullish confirmation and we will be pushing towards all time highs about that 4,800 failing to push above this. The resistance level would be ultimately a little bit bearish and would continue to correct down towards that 3,500 now doge coin. I don't say I love to see it, but this is exactly what I've been mentioning for about a week.

Now. We were struggling to get above that 50 day and 200 day moving average. We got wedged between for about two weeks here, bouncing between the two and the second that we dropped below both of the 50 day and 200 day moving average. I said, Thursday that we were going to drop down to that 15 cent mark for the bear stance.

We're going to fall down to that 15% mark. And that is exactly where we fell and held the support. Although price did drop down to about 12 cents here on dose coin, which was absolutely ridiculous. I'm not going to say I'm surprised here, but holding this. Is actually great. It was a previous strong level of support at about 15 and a half 16 cents.

Now doge coin absolutely needs to hold this. If it falls below, that is going to be a  very bare sign for doge coin. Falling below that support level would put us at a price which was pre bull run for this current market cycle and dropping below giving us a target of about 10 cents, which would be pretty hard to climb out of considering we'd have that strong resistance at 15.

Which is currently support which would flip resistance. Now, guys, I'm going to talk a little bit about how to trade the Bitcoin dip in times like this. So if you've been around in the podcasts and things you've heard me say is time in the market, beats timing, the market. And what I mean by that is trying not to get too caught up on how low price can go when you want to buy.

Of course, everyone wants to buy Bitcoin at. Of a price as possible, but keep in mind when you were looking to get in as low as possible, you are not always going to succeed. And most of the time you are going to miss out on the opportunity unless you are a technical trader or very well-versed and technical analysis.

It is going to be very hard to guess where the bottom is going to be. So in that case, I like to recommend dollar cost averaging, which dollar cost averaging just. It's simply buying portions of an asset at different times to average out the price that you were buying at. So instead of buying a thousand dollars of Bitcoin here at 50,000, you would do 200 here, maybe wait a few days, maybe get another 200, wait a few more days now for that example.

Sure. There's a slight possibility that you've dollar costs and the upwards direction, meaning that you raise your average slightly higher. Although I would take. Over rewards, better safe than sorry, is always something to be appreciative of in this space. We can never be too greedy considering how volatile these assets are and just getting in and dollar cost averaging is some of the safest trading that you can do.

Then at that point, waiting for price to go down, you will be able to get back. Another tip of advice I would like to give would be not focused too much on Bitcoin in the news, the saying goes, sell the news by the rumors. Meaning that mainstream news around assets is not necessarily always a good thing.

It means that things tend to usually be overbought, which is why we saw the dip that we did. And the media, everything was switching over to Bitcoin. All these Bitcoin price predictions were coming for the new year and that ultimately put an evaluation on Bitcoin that was unrealistic and was over.

Therefore leading to this dump here. Reclaiming here would be absolutely very bullish though, which we've already discussed, essentially just diversify. What media you are consuming when it comes to these assets. That's all the time we have today. Guys. Thank you so much for today. You can follow and subscribe to our podcast, which will all be in the description below.

Have a great Tuesday

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Episode Summary

Dogecoin chart trends indicate a possible breakout?

Ethereum Bullish and Bearish Scenarios Until the End of the year

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody happy Thursday is Joe Dewitt, and this is the crypto breakdown. Taking a look at Bitcoin. We are still in that crucial area here where it is undetermined. We have accumulated some higher lows and some higher highs. Although the micro trend does not look right. We have fallen below that 50 day.

Moving average and price looks like it is making its way down towards that 45,000. Which we previously just came out of Bitcoins. Next month of price action is going to heavily determined on the next few days and what it decides to do at this 58,000 resistance level price, getting above would solidify its bullish trend in bursts through all time highs and no time falling below towards that 45,000 support would.

Just lasts a little bit longer of consolidation. Taking a look over at Ethereum. Ethereum continues to uptrend with a slight pullback today, looking at a four and a half percent down on the day, which is of course common after a good run like this. It looks like it was regressing back to its support level of around 4,350, solidifying this as support and reversing off of there in the upwards direction.

Up towards that 4,800 would be. Great. Now the dose coin chart also looks fairly interesting. It looks here like it has established a low it came down and had a little bit of reversal now. So price has been climbing could consider this. If this does confirm to be low, this could be considered a higher, low, although it is lower highs with higher lows, which means it is deforming, a descending triangle here.

So those going overall, the macro trend, it looks like it could be breaking out in a matter of a few weeks. In order for a nice breakout worth waiting for it. We'd have to get above that 50 day and 200 day and Bitcoin price action would have to be moving as all coins like to follow. So the next few weeks will be a telltale sign for those coin.

And today, guys, I'm going to break down a theorem a little bit, talk about a possible parish standpoint, as well as the realistic bullish standpoint. The biggest thing that concerns me with delirium is the increasing gases. I know they've been addressing this for quite some time and looking to switch over to eith 2.0.

Gas fees are not getting any better. And it is just pushing away users from Ethereum to alternatives like Selana, which personally, you know, I've done the same thing. I've transferred over to Solano for a lot of NFC transactions. Not to say that it has everything that theorem has to offer, but it is a great alternative for those looking to make trades with very minimal fees.

And if this continues to keep up and they. Continue to procrastinate the rollout of Eve 2.0, I could see price continuing to drop. Although price has been climbing users on the network are struggling with transaction fees. It's not necessarily going to drop price, but it's going to consolidate price and limit the amounts that it's going to move, going to limit the capability of price action.

 Because with the full capability of Ethereum, I think is where we will see the most potential. And until then, I don't think price is necessarily going to reflect that. So on the bear standpoint eats 2.0, takes another few months to roll out. Eve gets above all time highs potentially around that 4,900.

And quickly it breaks down and continues to consolidate for about a month year falling back towards that 3,600 and just sideways. I'm consolidating for a bit then with the rollout of Eve 2.0 price, absolutely skyrocket, continuing to break all time highs now on the alternative that Eve 2.0. Proof of stake does not hold that much weight on price.

Action. Price will hit a reversal on this current support that it is touching and move in the upwards direction towards that all time high. And one's breaking all time highs just continues to hit that squeeze because a breakout like that would cause for a bit of price action and that would lead price to move into a undiscovered area.

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Episode Summary

How To Trade NFTs?

Ideal Discord and Twitter follower numbers for NFT projects that are worth investing in.

Tip of the day: Buy 2 NFTs from the project you like.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hello, everybody happy Wednesday. My name is Joe Dewitt, and this is the crypto breakdown and taking a look over at Bitcoin Bitcoin price continues to battle for that 58,000 support slash resistance level. This has been a crucial support and resistance for the last couple of months here. Um, I've mentioned it quite some times here, though.

Bitcoin is in a volatile state here it's wedged between that 50 day and 200 day moving average and sitting right below this resistance level is 58,000. If Bitcoin can get this buying pressure and just hop right above that. Would put it in that zone for all time highs, which is ideal for Bitcoin. The overall macro trend is great.

Uh, accumulating higher lows and higher highs. A breakout here for Bitcoin looks inevitable. Taking a look over at Ethereum. Ethereum looks absolutely insane up one and a half percent today. It has been pushing towards all time highs for about five days. And it does not show any sign of slowing down price.

Currently at $4,720, we are just about to reach all time highs for Ethereum, which could happen even today. If buying pressure continues here, overall macro trend on Ethereum looks absolutely great. Uh, accumulating higher than. Higher highs, buying pressure is continuing to grow. There is a good amount of green volume that came in yesterday and today has a good amount of green buying pressure here.

The only thing for Ethereum, I would say, keep an eye on that relative strength index to see when we were approaching a little bit of overbought area for a slight correction. But other than that, Ethereum looks absolutely primed and ready to go. Now taking a look over at salon, I wanted to mention salon because today's candlestick.

Absolutely beautiful. It started right at that 50 day, moving average, using that as support and hopped up right above this crucial resistance level that we've been bouncing between. Um, it was a resistance flip support sitting at about $215 per salon here. Salon has a lot of room for growth, just considering it as a layer one.

To something like the theorem and Ethereum gas feeds have been growing lately. So people have been transitioning away from, from Ethereum to other layer ones like Appalachian Solano for alternative transactions. And that shows no sign of showing down until a third empty 0.0, rolls out. People will continue to use Salono and push this price up.

I could see easily price hitting that $300 range. And just a matter of a few weeks, I'm depends about where the buying pressure is. Although to start off, this is an absolutely great sign. Uh, closing the candlestick above the support level would put us in a zone of all time highs. And today, guys, I'm going to talk about how to trade NFTs, how to keep liquid and NFTs, and just a few things to keep in mind if you were looking to trade, uh, individual NFT projects.

So something I like to mention to people is to diversify. It never go all in on one NFT project. You like, it's absolutely normal to. I feel some type of way about a project and really like it, but that does not mean you have to buy 30 of them. Um, what I like to say is buy to have a project that you like, because that way, if you have one can put up for sale, which is called listing, so you can list one and then you hold onto the other, in case price continues to climb because with NFTs, they are so, so volatile so much more than crypto because you never know when volume is coming in.

And NFT markets are very abrupt and very subtle. It mostly depends on when individuals want to start trading. So when people are looking to buy, um, a certain project is when the highest opportunity comes to sell. So that being said, that is why I like to recommend buying to have a project that you like.

That way you can list one to gain profits and have another, um, in case price continues to increase. Another thing to look out for is overall traction on the NFT project and what I mean by that. Um, it's overall community and following how many Twitter followers they have in their discord. I usually like to look for a discord of upwards of 20,000 people, um, and somewhere around the 10,000 for Twitter followers, because it's a safe area.

You want enough people looking at the project where you know that there will be a good amount of transactions there. If you like a project. That has absolutely no traction. That doesn't mean you can't buy it. That just means there aren't enough eyes on it yet. You're taking a gamble with, if there are ever going to be transactions on that NFT project.

So that's why I like to stay safe and go into projects. I know that we'll have a good amount of volume because people are already looking at them. And the last thing I would recommend when looking to trade NFTs would be to look on alternative layer ones rather than a theory. I absolutely love it.

Theorem and I have multiple NFTs on a theorem network, but if you're looking at. Quick trades and take profits. Something like Solano is an absolutely great alternative. Um, they provide a great marketplaces like magic Eden, where you can go on and buy NFTs for a fraction of the cost. You'd pay for Ethereum gas, theorem, gas being upwards of 100, $200.

And Salana, you'd pay a fraction of a cent. So taking a look at alternative layer ones for your NFP projects is a. Opportunity to make some money there. That's all the time we have today. Guys. Thank you so much for tuning in hope. You all have a wonderful day, make sure to follow and subscribe to our podcast, which will all be in the description below you guys take care of quickly.

I just want to say that this is not financial advice. I encourage everyone out there to please do your own research before investing in cryptocurrencies, as they are very volatile assets. Did you know nearly all stock price changes of 10% or more result from a single news headline? News headlines have a unique ability to drive stock prices up or down.

These news catalysts create trading opportunities every day. All you need is a little help to reach out and take them. And if you're looking to grow your portfolio, it doesn't matter if your investment budget is small or big and easy to read stream of news headlines will increase your opportunities to profit from price changes in the stock market.

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Increase your market now. Boost your exposure to big movers and make informed trades before major price changes, the opportunities are all around you. Subscribe now and will skyrocket your portfolio today.

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Episode Summary

Can Ethereum reach an ATH by the end of 2021?

Twitter's effect on NFTs.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody. Happy Tuesday. My name is Joe Dewitt, and this is crypto breakdown. Today. I'm going to do something a little different and just go into a little bit of market sentiment and how I feel about each of these coins.

Taking a look over at. Overall market sentiment continues to stay strong. Price has accumulated some higher lows over the last few months here. And I talk a Bitcoin within the news and all of social media has ever been increasing Bitcoin breaking all time highs a few weeks ago, absolutely helped out with that.

And it does look like we could be heading back towards that area. And no time for Bitcoin, the best case here for Bitcoin would be this 58,000 level that we've been mentioning for quite some time. And that is. Switching between support and resistance, which is currently acting as resistance to flip as support when price gets a above and then a Bitcoin will be battling for that 58,000 up towards that all time high area, taking a look over at a theorem.

Ethereum price continues to stay really strong prices up six and a half percent on the day. And something I really enjoy looking at with a theorem is how well it holds the 50 day moving average. Just a reminder out there. If you are unfamiliar with the moving average, it is just 58 days. Price plotted an average.

So it shows you a good support and resistance level. And Ethereum likes to hold that as a crucial level of support. It was testing it for a few days this week and the last three days, it has cleared that 50 day moving average hopping above that 4,300. To my eye, Ethereum looks like it is approaching all time high.

It is very close. And it looks like it has the buying pressure to just rip right through. This will be very interesting to see how this Ethereum plays out. I would expect here potentially a little bit of consolidation as we get to that all time high area. And depending on the volume coming in, we could push right above it, or it could be a slight retest, but I'll tell you one thing I know it is not going to get below 4,000 any time soon and taking a look over at dose.

Those coin is looking the least appetizing of the three, although it has been accumulating a little bit of a macro descending wedge, which should be a very large wedge here where price is losing momentum. Now, the reason wedges like this. Considered a, an opportunity for a bullish breakout would be because price is losing momentum and the downwards direction.

So theoretically price is looking to hit a reversal. Those coin here too, on the RSI, which is a relative strength index is very low sitting at about 43%, which means that it is 43% over sold. There will be a bit of buying pressure here on dose coin. I would say realistically for dose coin, the best scenario would be a little bit of buying pressure to hop above that 200 day moving average, putting price at about 26 cents and then battling for that 35 cent zone between 26 cents for a couple of weeks.

And today, guys, I'm going to talk about a little price prediction for a theorem or the new year's. So taking a look at. Everything an overall market sentiment. It's important to consider a lot of factors when determining the price of something like this. So a theorem being a layer, one solution, meaning that they are the decentralized hosts that will, that will be here for decentralized apps to be built on.

It is a very. Piece the blockchain puzzle and absolutely crucial for the development of defy. That being said, there are other layer tools out there that also offer cheaper transaction prices. But with Ethereum 2.0, rolling out around the corner which has been teased for quite some time, theoretically, that will really help the price of Ethereum.

If you're unaware of that update, that is the 2.0 a theory of fork, which will be. The transition from proof of work over to proof of stake, meaning that transactions will no longer be verified with computing power and instead they will be verified with staking pools, which will be a great environmentally sustainable option on the other hand, as well as lower transaction fees.

Another important thing to consider with Ethereum is Jack Dorsey, promoting the NFT community by he's going to verify individuals NFTs onto. Which will be very, very bullish for the community. Being able to see if someone actually has an NFT through their Twitter profile, which will be super interesting and integrated within everyday life and social media.

So that is absolutely bullish for. So getting to the price prediction. If a theory come here can climb above it's all time high putting price, right below $5,000, depending on how quickly it can get above. If it completely rips above all time high within the next few days and closes the candlestick. I think that is going to be an insanely bull sign for 3m and Ethereum is going to continue to climb for all of December.

 If that does happen, which it is at this point, looking like we are in that direction I would expect a theorem and this zone of about $6,000 by the new year. Give really modest price predictions because I'm aiming for 8,009,000, $10,000 is not going to help anyone. And an unrealistic price.

Prediction is only going to give you false hopes. So it's always good to be a better safe than sorry. On the other hand, if Ethereum does release an update about the eith 2.0 or any sort of mechanism that they're releasing that may drive up. A bit. So I could expect even 7,000 to 7,500 personally, I do not think Ethereum can get above at 7,500 by the new year, and that would push market cap to about 1 trillion.

And that's all the time we have for today. Guys, thank you so much for tuning in, make sure to follow and subscribe to our podcast. And you can follow me on Twitter, which will all be in the description below. Have a great Tuesday.

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Episode Summary

Today On Crypto Breakdown Joe Dewitt looks at Bitcoin, Ethereum and Dogecoin amid the Omicron scare.

He also looks at price action and volume for Omicron coin.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

happy Monday, everyone. I hope you all had a wonderful Thanksgiving week. My name is Joe Dewitt, and this is the crypto breakdown. So over the holiday week, Bitcoin continued to.

 We had a nice red candle stick on the 26th and the last three days have been somewhat green volume coming in and the upwards direction, which is a great sign for Bitcoin here. We were previously falling down to that target of around 45,000, which was a pretty low zone, which would probably scare a lot of.

Here with this little reversal, we are heading back up towards that 58,000, the coin price currently up 6% on the day. The best case for Bitcoin here would be to get a little bit of volume and push above that 58,000 level resistance, which was previously support, flipping that resistance as support, and then continuing to upwards trend to that.

64,000 level of resistance would be ideal. If Bitcoin gets rejected from this 58,000 and will continue to fall down to that 45,000 level of support, taking a look over. Theory Ethereum looks surprisingly really good. It is up 7% on the day bouncing between its zone of 40 403,900, which it has been back and forth between for the last two weeks of Ethereum price never fell below.

It had a very, very small. And quickly was bought right back up and moving up towards that 4,400 Ethereum does look like it is ready to just claim that resistance level and flip that and support flipping that as support would put us in territory of new all-time highs, which would be very exciting for Ethereum taking a look at the RSI, which is the relative strength in that.

Does indicate that there is a little bit of overselling on Ethereum, which means that eventually people are going to come in and buy because the price is becoming oversold. Ethereum can keep up this momentum and stay above the 50 day, moving average and claim this level of resistance. I think it'll gain the momentum.

It needs to push for all time. For some reason, if it gets rejected, I could imagine us bouncing between this exact zone because we haven't left it in quite some time. So it is hard to imagine us falling below, also with the London hard fork and the EIP 15 1,559 mechanism with the burning Mack that was burned over I think one minute.

Ethereum with the London hard fork and that deflationary mechanism to decrease the supply. I think the price of Ethereum will be growing over the next month. They can look at doge coin. Doge coin is doing the best of them all today, up 10 and a half percent. This morning, those coin was not looking the best for a while.

It was falling below that 50 day and 200 day moving. Heading down to its target of about 15 cents. Although it did get quite low reaching about 40% on that relative strength index, which indicated a strong oversold territory, which did cause a little bit of buying pressure here. So we have a nice green candlestick for dose coin today, price currently sitting at about 22 cents.

And it does, and look here like those coin could hit a reversal up towards its 25 cent area. In order for that to happen, it's going to need to hop above that 50 day, moving average gain that as. And then push towards that 200 day at about 28 cents now, depending on Bitcoin. And if, if Bitcoin price does it's little fake out here and it gets denied from that 58,000, a dose coin will continue to fall to that 15 cents, just as all coins.

 Stereotypically tend to fall. Probably section of Bitcoin. So if Bitcoin's fundamentals do stay strong and it does clear that 58,000 and move in the upwards direction, it's very hard to imagine. Dose coin, continuing to fall down. Best case for doge coin would be clearing this 200 day moving average at about 28 cents and making its way up towards its current resistance zone of 35 cents here and today, guys, I'm going to talk about the new and popular coin Omicron which was a play off the new COVID-19 variant and how.

So Omicron would fall under the category. For me personally, as a meme coin, it is a coin that was developed as something popular is growing in the real world. And to capitalize on that without necessarily having any really strong utility at the moment, it saw an all-time high of about $712 and is currently sitting at 369.

So it had a very, very large selloff. Indicating that it had a very hard hype cycle, which drove price up. It rose over 900% in a day. So with a coin like this, it is really important to look at when a momentum is coming in. Something like Omicron, you do not want to be trading when there's no volume.

If there are variable. Transactions coming in. It is not the best time to be trading because the best time to make money is when volume is coming in. So you'll want to wait for what is called a squeeze, which is when price is fluctuating due to the increase in people trading the asset. And that could be done by going on trading view, which is one of the world's most popular technical analysis websites.

And you can pull up the squeeze momentum indicator as well as a relative strength index. And it take a look at price. It's good to look at price in general and the direction that it's heading, but taking into account. These indicators really helps because Alma Cron it is a hype coin, so it could easily from here start losing momentum as it could have seen its pump already.

And with coins like these, you don't want to invest more than you were willing to lose because it is very skeptical asset. Now on the other hand assets like Bitcoin and Ethereum that are strong fundamentally and have a lot of. Trading those assets are a little different because they have a history of fundamentals and a history of utility.

So although it is important to trade with volume because volume on any asset helps move the price of Ethereum and Bitcoin can be accumulated over periods of time. And what I mean by that is buying 20 $50 of Bitcoin every week would be much better than waiting for the dips of these types of. But I like to tell people is time in the market, beats timing the market.

If you're going to wait every week, every month, every day for Bitcoin to drop below a certain price that you want to buy at chances are, it will never happen. I can tell you firsthand experience from many years of doing this. When you have a price target in mind, where you want to buy, it will hardly ever get there with very strong fundamentally assets.

Like these. You want to be accumulating over a long period of time, which will help produce the best. Don't think about necessarily where the price has, where the price is at this moment. I'm sure it is important, but if you were looking for long-term gains it is important to just accumulate over time.

That's all the time we have today. Guys. Thank you so much for tuning in, and I hope you all have a wonderful week. Make sure to follow and subscribe to our podcast and you can follow me on. Which will all be in the description below you guys have a great week

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Episode Summary

Today On Crypto Breakdown Joe Dewitt looks at Coinbase.com CRO coin as well as Solana, Ethereum and Bitcoin price actions.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody. Happy Wednesday. My name is Joe Dewitt, and this is the crypto breakdown. Taking a look over at Bitcoin price down 1% on the day, Bitcoin, continuing to consolidate and the downward direction.

The zone we've been talking about that crucial 58 to 44,000. We're going to be bouncing in there for a bit of time. The best case for Bitcoin here would be to see a bounce off of this 200 day moving average in about a week. If it can average out and get some upwards momentum at bounce off of there as support, that would be a great, great sign for Bitcoin.

 On the bear scenario, we fall down to that 45, 40 6,000 and it get a bounce off there and the upwards direction. Taking a look over at a theory from Ethereum was getting some upwards momentum here. 3% on the day and we are moving away from that 50 day. Moving average off of bouncing from there yesterday, price action.

Use it as support as we are moving towards 4,400. Now Ethereum here today and tomorrow could be a huge day because it is currently testing its resistance. So if it can hop up above this 4,400 it'll be battling for all time highs, which would be an ideal zone for. At the moment. I've no reason to believe it's going to fall below 4,000, just because it was above that 50 day and above to crucial loads of support here.

So it would have to fall two zones to enter that a 4,004,000 area. So Ethereum is looking good, a little bit of green volume coming in and some buying pressure, which is great for theories and FTS on the Ethereum network have been growing in popularity and the activity on Ethereum has been, ever increase.

With the soon implementation of Eve 2.0, that has been teased for quarter one, quarter 2, 20 22 should really help drive up this Ethereum price. But for now we'll probably see just a little bit of consolidation and the sideways direction. Maybe a little bit of gains. If we haven't been in the zone of 4,400 we'll be battling for all time highs in this.

Now taking a look over at Solano, Solano is looking great. It's been gaining popularity as people are looking for alternative layer ones. As a theory, some gas fees have been growing. Solano is testing its support of $216 here. Price currently fell right below. We're sitting at 213, ideally here for Solana.

 It can get a little bit of pressure and start pushing towards that 220. I'm breaking over that 220 would put us in a great area battling for that all-time high of 2 59, about two 60, which I totally thinks a lot of has the buying pressure to do the ecosystem on salon has been growing massively. The NFT community is not as big as a theorem.

All of the new projects happen getting. And speaking of Solano projects next week, I will be having a guest feature of a CEO in dev on a salon NFT project. So tune in for that. That'll be awesome. Awesome interview. And today, guys, I'm going to talk about is crypto.com coin a good investment to buy right now?

 The ticker is CRO. Now, purely looking at the day chart. This is definitely a squeeze here. There's a incredible amount of volume coming in and the RSI, which is the relative strength index indicating if a crypto is overbought or oversold is absolutely through the roof, which means this is definitely a short squeeze here.

That is not necessarily a bad thing. The only thing I would say short term is that price could definitely correct here. They're losing a little bit of momentum on the price sitting in about 93. Personally, I think $1 will be a very big psychological number considering it's started. It's rallied about 20 cents.

So I think $1 will present a lot of resistance there and we might get a little bit of consolidation, 15, 20%, although longterm. Within the next year or couple of months, I think crypto.com coin will definitely be beneficial investment considering everything that they're doing. And the fact that they just bought out the name for the stable center, which is now the crypto.com arena.

There is definitely going to be eyes on CRO in the near future. That's all the time we have today. Guys. Thank you so much for tuning in. You can fall and subscribe to our podcast and follow me on Twitter, which will all be the description. Happy Wednesday guys, and have a, have a wonderful holiday

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