Will Energy Use Doom Bitcoin?

Did you know Bitcoin's going to zero because it uses energy? I know that means you're going to zero because you're using energy. Because you exist. You're energy. Good morning, good evening, good afternoon, wherever you are, whatever you are. Thank you for watching this video. My name is Da Vinci Jeremy. I'm in a pipe 5x5. And man, I have to laugh, right? When I heard this, I spit out my water when I watch this video. Maybe you've seen it before. I don't know. But I I when I came across it, I decided to do a video about it. So, it is so funny, right? Uh I'm going to be playing a little clip for you, right about how some CEO says Bitcoin's going to zero because it uses energy, right? And we'll we'll talk more about that and give you a little bit more perspective on this. Obviously, you're thinking, "Yeah, AI is saying hold my beard." Yes, hold on to that that thought. We're going [laughter] to discuss that in today's episode. And also we're going to be going over the charts and seeing something interesting going on with Bitcoin and the different altcoins that I always cover. We're going to talk about that. What's happening there? That's going to be a major update. So, make sure you stay all the way to the end. It's going to be something you're probably going to need in order to predict the next little bit of what's going to happen for this month and the month that's coming forward. So, with that said, sit tight, hit the the like button. I'm going to show you how to do that by going right over here and scrolling and hitting the like. Hit the subscribe button somewhere right there. There should be, but but it's not here because this is my my channel, so obviously I'm subscribed. [laughter] And then scroll down to and you can see the news articles we're going to cover today. So let's start off with that uh particular interesting piece of information that told us that basically Bitcoin is going to zero zero. So let's listen to what this man has to say. >> You think Bitcoin is going to zero? >> Yeah. >> Okay. This is worrying. I think I have some Bitcoin. [laughter] You're an economist. You're saying that Bitcoin is going to zero. Why? >> Ultimately because of its reliance on energy. When they told me about Bitcoin, I could have bought it for a pound a bitcoin, which I would have been a bloody would be wealthier than you if I'd done that. The reason I didn't was they explained that the way that the public ledger is kept safe is that it takes too much energy to break it. So each transaction requires 10 minutes of computer processing time globally by the looks of it to actually create an extra bitcoin. And that means it's too expensive for somebody to try to break the ledger. That means it's got a huge requirement for energy use. And I believe, knowing what I know from climate scientists, that at some point we're going to realize we're using far too much energy on the planet. We've got to cut the energy consumption. And the two easiest things to cut out to reduce energy consumption of cryptocurrencies. And >> okay, so we should cut out also the sun since that uses too much energy, right? That big ball out there. We need to douse it. This is painful. Also, also, also, anything that we need to use to use energy for to survive, we should stop that too. This is insane. [laughter] This is ridiculous. Also, you know, I I want to I want to also point out that He probably misunderstood the statement that hey, you know what? It takes a lot of energy to break it. You see, as we add a block, right? In order to change any past blocks, you're going to have to expend an enormous amount of energy because it was already spent. That is what they truly mean. And I think there was a little bit of a caption explaining that in that in that little video there. Now, of course, right, I was a little a little miffed that the the interviewer didn't call out that stupidity because you know what I would have pointed out? Well, sir, you require energy in order for you to do work, right? In order for you to get up and go outside and actually work, you require energy, right? Am I wrong on that? Yeah. Oh, okay. So you are a energy consumer as well. And not only that, I'm pretty sure that economies that use energy the most are rich countries. I'm not 100% sure on that. So let's take a look at the data. All right, shall we? Oh, look at that. [laughter] The data shows that look at that the the all the the poor countries ma Nigeria Madagascar right Chad right Ethiopia they're not using a whole lot of energy yet they seem to be very poor yet look at that so we should use less energy as as as people and what would be the result WE'D BE BIGGER ASS POLE. Jesus Christ. Oh my god. Oh my god. Anything of worth doing requires energy. If you get up, it requires energy. You dig a hole, it requires energy. If something else digs the hole, it requires energy. the ridiculousness of this statement. And you know what? Honestly honestly um you have to see the truth, right? When someone, right, is pushing an agenda, right? And whether they mean to or not, it doesn't really matter. It is you have to see what the end result is. And the end result is what's important, not if that person is bad or not. Who cares, right? What we need to see is, oh, if we use less energy, we end up like Haiti or Ethiopia. That's what we get. That's the direction. [laughter] And I don't know about you, but I don't think you want to go in that direction. Do you? Oh, no. No. You don't want to end up like, I don't know, Cuba, right? You don't want to end up like that. So, any CEO or any rich person because it's always the rich people saying this. They're not in you saying this in your best interest. [snorts] No wonder these mega rich people have bunkers. Because eventually you're going to start thinking, hm, you're telling me to stop using energy and you use it a lot. How about no, [laughter] [laughter] you know, that's that that's coming that's coming for them. All right, with that said, let's move on to the the charts and stuff like that on Bitcoin. You can see my short. It's not looking so healthy anymore. You can see we're bumping up against the 200 period moving average on on the 4 hour here. And that looks like a breakout to the higher levels. I have to say that honestly we've been stalling out here too long and holding the the 80k for too long. So that indicates that my thesis may be incorrect. And we can see that we've created a a we were started with going down and now we were come we're breaking down creating lower highs and now we've broken through created a higher high and another higher high in a short term on the 4 hour which indicates if we do not break down soon I think I should move my stops to break even or at um if we come back up to close to my entry point because there's clearly um no breakdown coming here for Bitcoin. We can look at also um all their other charts, but before we do, make sure you head over to x.dj15.com if you're interested in buying Bitcoin, trading Bitcoin, or trading any of the assets that we talked about today. Uh of course bybit.dj15.com is my favorite exchange. is exchange that I use to trade and I I trust it. It is the most trusted exchange out there maybe next to buy Binance of course and if you are unable to you know work with the the buy bit and because of your location there's many exchanges here that you can choose from and we ch give you the exchanges that are available in your area. Okay, moving on. uh Ethereum is, you know, finally hit the the lowest level. You can see it went then and, you know, wicked down below these all other wicks and then and broke higher. We can see that also on the we're on the daily here. It hasn't actually reached its it's uh it's AB equals CD level. This is probably that's what this is. This is an AB equals CD level. So, um, and I don't know if it's going to turn around or make it to to that level. So, I'm thinking, um, I'm thinking we're going to actually go a lot higher. Looking looking at this, it is below the 13 EMA, which is also an a bearish sign. So, I can't really say for sure that this is uh turning around on Ethereum, but it it did get close to its support level, which it's interesting. Um, you know, maybe I need to redraw these uh these bands because you know what? Honestly, they're not not as accurate as I as I was hoping to them to be. Maybe they're right here and here. And maybe we can redo. Let's Let's just redo these things right here. Let me redo that. Oops. That's cool. That's good enough. There we go. And let's see if this gives us anything better. There we go. It does give us something better. So, you know what? I'm going to redraw these. What these called? Are what are called? um parking garages where the market trades generally in. Now, I'm I was convinced that I had the right bands for the longest time, but maybe I'm going to change them up a little bit. See how this actually fans out plays out. Oh, look at that. It's playing out probably a little bit better than what I had before. Oh, look at that. That one is lines up exactly. Yeah. Okay. All righty. Let's Let's go with that. Maybe I didn't draw them properly. I didn't have the right ones um going higher as I was drawing them out. Interesting. So, that's now corrected. There we go. Cuz I was not seeing that. Yeah. Oh, well, it is what it is. Fixed now. Okay. You can see that they were right here. I was saying $100 and we bounced off the $100 mark perfectly on Salana. Salon. It was I was telling you $100 was the buying entry. Hope we bought some. If not, um I don't think you're going to get another chance here. Uh looking at this, it's above the 13 MA. It looks really good. And you can see that the indicators are rolling higher, not lower, even though prices are uh moving downward. So, it is um it is a clear indication. Also, it's Oh, look at that. the um the indicators have created a divergence. Yes, they've created a divergence that is confirmed and same with oh look at that on the MACD's the convergence the divergence is confirmed on the MACD and on the RSI which is u a positive indications and we're above the 13 MA um and below the 200 period moving average on the 4 hour. a retest of at the very least of the 200 period moving average is a likely outcome for Salana from here on out. So with that said, a nice trade for this is boom right there. Boom. Easy peasy lemon squeezy. Let's see here. We are at not even a two to one. So you can just reduce this a little bit so that we are at a 2:1 because this is an easy walk in the park move here. So we can just move this down. I want to get into this probably near Oh no. You know what? Near the 13 EMA, but I think it's going to probably get away with us. But I'm going to move it down on the 13 EMA and then wait for an entry. Let's see if we go down to the lower time frames. if we will get an entry, a clear entry on the lower time frames. Probably not. Oh, yeah. Yeah, we are. We're still early on this movement. So, I think yeah, I think you can easily get at the body of the candle here an entry on the hourly. Um, not not saying that it's it's it's 100%, but there's a good chance of that on the hourly. So you can still get your entry in and then you know get a 2:1 all the way up to the uh 200 period moving average on the four of course. And there it is. That's your trade for Salana. Boom. Boom. Easy trade. Easy peasy. Unfortunately, looks like I will have to get out of my um Oops. Sorry. My my uh trade my short trade on um Bitcoin. It is what it is. So, we'll probably leave with a profit. Thanks for watching, guys. I hope you enjoyed today's episode and we'll see you guys next time.