BITCOIN Blastoff to $60,000 To Happen in Just 30 Days!? - YouTube

Everyone is looking for confirmation that  the markets are turning bullish once again!!  

Bitcoin has pushed right back up to the BIG  resistance of $40k & this week has been a week  

of testing it over and over! When is it going to  broken? Well that could have already happened.  

If so the next question is when $50k...when $60k.  Well you know our opinion...those number hits are  

inevitable. Just like you watching this  episode. Because it’s time for Chico Crypto!!

So, let’s just take a look why breaking $40k is  soooo important and why it’s been rough getting  

through it! January 9th we first tested it...but  then rejected. Then January 14th….rejection.  

It was almost a month later, February 8th...that  Bitcoin officially broke 40k for the 1st time.  

But then in may...we fell below once again &  since May we have tested it over and over...with  

our most recent tests coming  over the past few days!

I really hope the break has already come,  but like I mentioned a couple days ago,  

I see the official break coming in early  August. August 1st if I had to put a date on it!

But after 40k we have the next levels,  $50k and then the grand poobah...60k!!  

So the question is...if we do break  40k between yesterday and early August.  

When are we going to smash through $50k and then  $60k! Will it be like before? Back in February,  

it only took 7 days from breaking 40k on February  8th to smashing through $50k on February 15th!  

And then our first cross of 60k happened on  March 13th, only 24 days from the break of $50k!

It only took 1 month, 31 days, to gain 20  thousand dollars! If that happens again  

and say we officially break on August  1st...that would mean we would be back to  

$60k...testing that high  resistance by September 1st!!

So is this going to happen?  Back to $60k by September 1st!?  

Well other’s in the space, based on Technicals  are saying...that yeah it just might!

A Year of the Bull, 1.618 on  Twitter posted their chart and said  

“Today let's add one of my  favorite #Bitcoin cycle indicators,  

based on the 2Y MA and a 5x multiple of 2Y  MA. It helps us identify seasons of "Despair"  

as well as "Greed" in the #BTC cycle. BTC  is getting ready for mania! And then also  

#Bitcoin bear trap at the Golden Ratio 1.618  before the MANIA PHASE, just like last cycle….

Now looking at their chart, yes BTC in  the past cycle 2017, and that BEAR Trap,  

bounced off this ratio number 1.618 before it  entered into the mania phase of that cycle!  

Well here recently too with this BEAR fall, we  are bouncing off that golden ratio! And from  

their chart, it looks like we are breaking the  60k high in May, by September of this year!!

If you guys didn’t know, my Birthday is  in September. That would be a happy happy  

birthday to me, if we do break to $60k that month!  Also if you wanna give Year of the Bull a follow  

to check out more of their TA...link for  their profile is down in the description!

But technicals are just 1 part of the equation!  

Everyone knows Chico Crypto is a  fundamentalist...through and through!  

Fundamentally, what could be  happening that could spark a RUN…

Well the FED, in the United States, they met 2  days ago on the 28th to discuss the possibility  

of raising interest rates! Raising wouldn’t be  good for asset prices overall, as the policy  

makes money cheap to borrow and spend. Which  of course flows first in the stonk market,  

but some that cheaply borrowed money,  is spent in the crypto markets too!  

So let’s listen to their decision,  from FED chairman Jerome Powell!

They aint touching rates! Because if they  do...shiznit would hit the FAN. Fundamentally,  

in the short to mid term... this is bullish  for stonks...and this is bullish for crypto!!  

Although it’s not good in the long  term, but that's a whole nother story!

So in the macroeconomic environment,  things look really good for a bullish  

run for the rest of the year! But  fundamentally within bitcoin and crypto,  

what could also help push things to the next  levels? Well major protocol upgrades of course!!

Everyone knows about the London upgrade  for Ethereum coming August 4th, which will  

include EIP 1559!! Which is the biggest change to  Ethereum ever! I’ve covered it multiple times, so  

I won’t beat a dead horse….but when this upgrade  commences, part of Ethereum transaction fees  

will be burned and destroyed forever! This upgrade  is highly anticipated and many think it’s critical  

to Ethereum being able to handle another surge of  users when things get hot and bullish once again!

Ethereum has a major protocol upgrade right around  the corner...but what about BITCOIN!? Well BTC  

locked it’s biggest upgrade in a very long  time, just last month! This is Taproot and  

on June 12th, it reached the 90 percent miner  signalling for yes, to officially lock it in!

So what is this Taproot for Bitcoin!? Taproot is  a softfork to the network that will improve the  

scripting capabilities and privacy. It enables  something called MAST. What does Mast do?

Well #1 Increased privacy: This does not refer  to Bitcoin addresses or enhanced anonymity; it  

refers to types of transactions. Taproot  and MAST will make complex transactions,  

such as those requiring multiple  signatures or those with delayed  

release, indistinguishable from simple  transactions in terms of on-chain footprint.

#2 Lower fees: The data size of complex  Bitcoin transactions will be reduced,  

which will lead to lower transaction costs.

#3 More flexibility: Mast  allows a new type of signature  

that will enhance smart contract  functionality in Bitcoin, making  

it easier and cheaper for users to set more  complicated conditions for a transaction.

And #4 a Lightning Network boost.  It’s gonna make transactions  

on Lightning cheaper, more flexible  and more private. Lightning channel  

transactions are going to look  like regular bitcoin transactions,

So if this is activated and locked in...why  are you talking about it now? Well Taproot is  

actually not live! The over 90 percent  Miner signalling just OK’d activation.  

The deployment of Taproot is actually coming  later in the year! And nicehash.com has a nice  

countdown to it…..as we can see it’s projected  to happen in November, the 16th to be exact!!!

The importance of Taproot isn’t really fully  understood yet! But to help you understand...this  

is the first time Bitcoin has gotten an  upgrade in 4 years. The last one was Segwit,  

Segregated Witnesses, which happened in August of  2017...setting bitcoin up back then for its mania  

phase! Is Taproot the upgrade of this cycle,  which will push Bitcoin into the mania phase??

Although….there could be another BTC upgrade  making it’s way into the protocol...as  

it already semi- live with some BTC miners and  pools. That is the mining protocol upgrade Stratum  

v2!! Stratum V2 provides a bunch of different  technical upgrades, from switching to JSON  

for communication to binary to make communication  more seamless to reducing redundant communications  

between pools and individual miners, to  cryptographic authentication that allows  

you to prevent man-in-the-middle attacks such  as your ISP stealing your hash power. Stratum  

v2 is just more efficient than what most miners  used today...which is none other than Stratum v1.

Now the mining company Braiins, who are behind  the largest non-chinese mining pool, Slush Pool  

are the creators of Stratum v1 and also v2. And  Slushpool, and their OS for miners, is the first  

to deploy stratum v2. They tweeted about the  efficiency of the this..They said “Increase  

your Capital Efficiency by up to 25% with  Braiins OS+. They included the stats. Revenues  

are much higher and ROI time is much quicker!  So the miners are going to want to adopt v2!

But v2 is only in what I would call a limited  BETA, it has the technical upgrades I mentioned  

above...but the big one, Job Negotiation isn’t  ready! Job Negotiation allows individual miners  

within a mining pool to choose their own  blocks to mine rather than having to mine  

the one a pool proposes for them! This in theory  will decentralize bitcoin to where it needs to  

be...breaking up the power of the mining pools!

When Job Negotiation? Well March 3rd of this year  the Braiins Twitter tweeted “So, what is the state  

of Stratum V2 adoption today? Well, it's still  very early days. We have an implementation on  

Slush Pool and in our BraiinsOS+ firmware,  so there are already many miners using V2.  

However, this doesn't include Job Negotiation  yet. They continue “The reason is that there  

are changes necessary in Bitcoin Core in  order to make Job Negotiation possible.  

So there can't be a full implementation of  Stratum V2 until those changes are made.  

Good news: the development is in progress  & square crypto is leading it forward!

Aint that some shizznit! Jack Dorsey’s square  crypto is pushing forward Stratum v2’s job  

negotiation!! An update on that coming soon!?  Well it has been 5 months since we last heard a  

word….Cheers I’ll see you next time!