Bitcoin Ben on the G20, ETFs, BTC, and Hyperinflation Control



The July 24th edition of the Bitcoin Ben VLOG is worthy of discussion, as Ben delves into the details of what he thinks will cause the next major launch of Bitcoin.

At the G20 meeting, Bitcoin Ben states that the group did not disclose the portion of the discussion where they agreed that the member countries would not have a deflationary conflict with their currencies.

The week before, he claims they were talking about how horrible cryptocurrencies are, and how they need to be banned. However, he goes on to explain that they aren’t going to do anything about cryptocurrencies because they don’t see them as a threat. Now they see them as a tool. This is quite a change in attitude.

The "global elites", as he calls them, don’t “invent” anything as it relates to true wealth. They don’t create anything of substance. Rather, they leach off of the inventions of others. He thinks what they have decided and recognized that they’ve found a new valve for deflation. They want to capture the wealth that they’ve "printed" into inflation. He explains that they can’t put it into shares of stock or currency anymore, because the stock market has been made too top-heavy. If they add anything more to it, he claims it will "fall over".

BTC surpassed 8,000 in July, which was a major psychological marker. However, he states there isn’t that much buying pressure. Bitcoin Ben believes that someone with a lot of money had to push through that 8,000 barrier. He thinks that the elites are now getting involved, buying as much bitcoin as they can. I do believe that there is some amount of validity to this belief, because we see that the market has continued to slide since the brief run to 8,000 BTC.

Before the announcement of the "ETF", or "Exchange-Traded Funds", he believes the elites are going to buy as much BTC as they can because they know what he (Ben) is saying to be true. The ETF, as Ben states, is going to be the tool or the "valve" for the inflation that the G20 has been printing in currency.

He believes that the people who are getting into the market now are the small players. The big players are starting to enter now, and that’s why we have had the recent growth. Between now and the launch of the ETF, Bitcoin is going to continuously go up. There will be dips, and Ben recommends that everyone buy on those dips. Last year, BTC jumped from $6,000 to $20,000 in three weeks flat. This is possible again, as he states.

"Once the inflation valve, the ETF, is turned on, that’s when the inflation pours in. As soon as the valve is turned on, the elites will already be holding positions. Once they launch one ETF, the price will skyrocket. Not all ETFs will play by the rules. There will eventually be a lot of ETFs based on LTC, ETH, ETC, and more", as Ben explains.

"There are two things that the elites must insure. They have to control inflation without raising interest rates as much as possible. They also have to keep the inflation away from commodities like bread, food, and silver. Silver is too important to industry to let the price rise. If silver were allowed to skyrocket, the solar panel market and the smartphone market would be destroyed, along with several other markets."

Ben believes that the global elites need a commodity that is structurally fundamental to the marketplace for their manipulative inflationary purposes. Once the inflation tap is turned on, it will make the Bitcoin market run. Bitcoin will continue to move up from here. "We will see a run that makes last year’s action look like a practice run."

Time will tell if Bitcoin Ben's commentary is accurate, and comes to pass. I do believe that his comments have validity, and it will probably be revealed in early September when the final decision is announced concerning the approval of Exchange-Traded Funds. Until then, it looks like the bear market will continue.

I do believe that the news of ETFs will at least push the market into an accumulation/consolidation phase, even though several prognosticators believe it will launch us into the bull market. But as I have always said, we have never seen the stock market or the cryptocurrency market skip the vital developmental stages of distribution (bear market), accumulation, and then consolidation before the final markup phase (bull run)

Keep your eyes on the charts, and we will see!

Carlton Flowers

Is Bitcoin Ready to Surge Again? Two Possible Scenarios


The action in the cryptocurrency market is heating up again. The market cap is on the rise, and all indications are present that the next bull run is here. But when will it happen, and how long will the run continue before it takes a break?

Many of the crypto prognosticators are calling for a Bitcoin run right now. But as we all know, the cryptocurrency market is highly volatile and quite unpredictable. Over the long term, I still firmly believe that the market will continue to rise as cryptocurrency is adopted worldwide. But what will happen in the immediate future?

I'd like to present two simple possibilities and give my reasoning why my gut feeling tells me that Scenario 2 is what we will see. And I also firmly believe that the real bull run is going to happen in the fourth quarter of 2018.

Let's start by looking at the first scenario, which seems to be the most commonly held  belief.

BTC Scenario 1.png

In this scenario, many believe that we have ended the bear market with the low point of around $6400 USD. Looking at the low of $5800 this year, we see a double bottom ending with the  higher bottom at $6400. This could be a good indication that we have seen the lowest Bitcoin trading price that we will ever see.

But has the market allowed enough time for this to be the final correction? It certainly could be. I am more convinced of this possibility considering the double bottom and higher low that has occurred. But the next chart presents a clear possibility of one more final correction before the next true run.

BTC Scenario 2.png

If BTC does not continue with an absolute breakout of the 4-hour candles on the upper trend line, a final short correction could occur before the bull run. And this looks like more of a possibility to me because it would allow for an absolute consolidation of this formation.

Judging from prior years action, I believe this to be true. It's not the popular belief, but there are a few market analysts that are considering this scenario. The clue will be what happens with the breaking of the upper trend line in the next few days.

If we close above the trend line and hold, forming a base at $9800, the run is on. Time will tell. But for those playing the market for the long term, it will not matter. Those looking to enter the market or mildly trade the action for the best possible return might benefit from waiting for this final clue to occur.

Either way, we now see institutional investing on the rise. And we also see the hedge fund investors losing a lot of ground that are still hanging on to short positions since the previous low. That is a very telling clue.

The safest way to enter into the market at this time is to wait for the confirmation of breaking the upper trend line, especially for those who do not have the capital to invest large amounts of money.

My advice at this point, which is not professional advice, is to play it as safe as possible and invest responsibly. But overall, I think there is a lot to gain by jumping in to the cryptocurrency market while we are still in the "early adoption" phase.

It's a tricky situation, and we all don't want to end up wishing we had entered into the market before the final bull run takes place during 2018, which I believe will happen during the 4th quarter.

This time last year, BTC was trading at around $1000 USD. Anyone who would have predicted a run to $20,000 would have probably been told they were being ridiculous. But if BTC continues to move as it has up until now, we could see $150,000 by the end of the year.

I'll be getting back into the swing of reporting on the cryptocurrency market now that we have had several significant developments, and I'll be keeping a close eye and reporting on the altcoins too. I'd love to hear your thoughts and analysis!

Carlton Flowers
The CryptoPro

The CZ Crypto Blog - Learn the Basics of Cryptocurrency Investing Along With Me!



Welcome to my mini blog site for learning about cryptocurrency! As I learn how to enter into this new age, I want you to follow along and learn with me. This will be our resource to exchange knowledge and ideas.

Cryptocurrency is the future, folks. Whether you understand it or not, it's going to be the biggest fundamental change in finance that you will see in your lifetime. Now is the opportunity for you to learn, and to benefit in order to secure your financial future.

What is cryptocurrency, exactly? It's simply a digital payment system that does not require the involvement of banks, governments, or regulatory agencies. It's just a medium of exchange. It was invented by an unknown person or group of people under the name "Satoshi Nakamoto".

It was released in the year 2009 as an open source software system that runs on a peer-to-peer network where transactions take place directly from the people involved in trading, without a bank or other intermediary.

Any time two individuals make a transaction of currency, it is verified by network nodes, and recorded in a public distributed ledger called the "blockchain". It is open for anyone to view, and every single transaction that occurs is public knowledge.

The first "cryptocurrency" was Bitcoin. Bitcoins can be traded for products, services, or traded for worldwide currencies like the US dollar. As of February of 2015, there were over 100,000 merchants and vendors in the world accepting Bitcoins as a method of payment.

Whenever a transaction is made, it is verified by thousands of "auditors" out on the node. This keeps every transaction safe, and prevents anyone from duplicating their Bitcoins or making fraudulent trades. It makes the system impossible to hack, unlike regular money that you can counterfeit.

The process of auditing Bitcoin transactions is called "mining", because auditors are rewarded with tiny amounts of Bitcoin currency for performing a service. But there is a finite amount of Bitcoin currency that will be allowed to be created, and once that's done, mining will cease. At that point, auditors will be paid by charging a small fee to verify transactions.

Bitcoins can also be bought, and just sat on, as an investment. The more people pile on and buy Bitcoins, the higher the demand becomes. That means the value of each Bitcoin rises over time. I have a friend who bought five Bitcoins back in 2013 for around $400 per coin. Each of those coins is now worth nearly $10,000. That makes it an attractive investment.

Since Bitcoin was invented, there are several other cryptocurrencies that have hit the scene such as Ethereum and Litecoin. There are probably over 100 different cryptocurrencies that are being bought and sold as of this day, and the majority of them are increasing in value.

The benefit of cryptocurrency is that it removes the banks from the equation when two individuals seek to transact business or trade. It puts the power into the hands of the people, and the banks don't make any money. That's why it represents a threat to the current monetary system of the governments in the world.

That is the most basic level explanation of what Bitcoin and cryptocurrency is, and we'll get into much more detail as time goes on. This is a good starting point, and you'll want to continue to learn so you will be able to plan for investing. And you better have a sense of urgency about it. Why?

It is due to the fact that we are in the stage of change that is called the "Early Adopters". At this stage of change, this is where innovation hits critical mass and we experience massive growth. A good example would be the arrival of the first iPhone.

You can probably remember when you first heard about the development of Apple's first smartphone, but you had no idea it would change the world. Within a few months after the first iPhone was released, we hit critical mass. Years later, the majority of everyone in the world, regardless of their socioeconomic level, carries a smartphone.

This is exactly the point we are at right now regarding cryptocurrency. If you ask your friends about it, it is possible that 9 out of 10 have heard about Bitcoin but have not had any experience buying or trading with it. That will rapidly change.

Getting on the band wagon now could mean the difference between living at your current financial level, or living in a wealthy state beyond your wildest dreams. But if you wait to enter the market along with the majority of people, you won't be able to capitalize on the explosive growth from a financial standpoint.

Carlton Flowers
The Crypto Keeper