 Welcome to Digital Asset News. Take a top story in crypto and bring them out of bite-sized pieces. So just like the thumbnail suggests, we need to take a real step back and take a look at all this negative sentiment and really just to just zoom out and take a look at the big picture. And to do that, we need to take a look at a couple of recent articles. So first up, negative Bitcoin sentiment on Twitter could lead to some big changes. So says data analytics sentiment. So we're going to take a look at that on top of what I call the FUD wizard, Scott Menard from Guggenheim, which says that Bitcoin may soon fail the $30,000 mark, which is kind of odd because of the things he said in the past. We'll take a look at that. On top of that, we'll take a look at my man Tim Draper staying strong and saying that Bitcoin could reach $250,000 and he tells you exactly when that actually could be. And we're also going to take a look at some positive news as far as Bitcoin miners capitulating and actually coming on over from China, setting up right here in the good old US of A, more specifically, Texas. And finally, just to sum everything up, YouTube superstar, I suppose, named JJ. He's been in the game for just a little bit of time and he's already figured out and really has some great advice for all of us and same thing I've been saying actually. So we'll take a look at all those things, but first let's take a look at what's going on the market. So tonight, it is Saturday, July, something, I don't know the date, but it's Saturday, watch this. It's what it is. And the market is actually rebounding, which is pretty crazy. We're at $1.31 trillion, not too shabby. We'll take a look at the coins. Let's see what's up. That's what everybody wants to know. That's what I want to know actually. So we'll take a look, let me blow this up since you know what I'm talking about. So Bitcoin holding strong at $32,000. Ethereum has broken down a little bit and is below the $2,000 mark. I expect that to rebound. Telling nobody cares. Binance coin 307. Let's see, what's up? 2%, 1%? 12% for Dogecoin. Well, great. Good for the Dogeholders. Polkadot, 8%, 3% for Uniswap, 2%, 5% so on. Everything's up pretty tonight. This is pretty great. I mean, I got to be honest with you. I am surprised and I'm pleasantly happy with the resiliency of this market. So I know there's some sentiment that is pretty much negative and that's why I want to just go over a couple of things and what you could potentially do to get yourself mentally out of it. So first of all, let's take a look at this article, negative, potentially equal positive. And this is from data analytics firm, sentiment. And what they say, it kind of goes against the exact opposite of what we know to be true as far as the market. And they state, as the company's experts explain, sentiment, the more negative the sentiment gets, the higher is the degree of a potential price rally. And I got to tell you, it really comes out of this. Every time I think I know what the market's going to do, it kind of does the exact opposite. And this is one of those things where it's like, when everybody's going a certain way, a certain way, a certain way, I don't know if it is the whales that are doing that or it's just the actual sentiment or the wisdom of the crowd or just you make things possible just by believing in something and just takes one group, one big person or one big, whatever you want to say, there goes my dog, Chewie, just to say, hey, let's do the exact opposite thing. And all of a sudden there's a big huge rebound. So this isn't, in all honesty, if you think about it, when it gets to be the most bearish is when you can make the most amount of money if you have a lot of dry powder in the silence. All you got to do is just wait until it goes to a certain point and go, that's where you want to buy, you buy that, it turns around, then all of a sudden, boom. And it happens at the blink of an eye because this is cryptocurrency and digital assets. Anyhow, to go on to further prove the point, traders expect a price drop, the chart says, and that's a good thing for the bulls just like what we talked about. And here was the actual tweet, Twitter sentiment towards Bitcoin remains negative in the amount of volume and tone that our algorithm is picking up. Generally, when there is negativity, there's a higher degree of a price upswing to catch the crowd off guard. Does this mean that it's going to go to 100,000 tomorrow? No, it's not what it means. But it does mean, kind of like what we're seeing right now, that markets up a little bit. And then it goes on to state that the Bitcoin fear and greed index has hit 15, which stands for extreme fear. And this is crazy. Because last time the index hit this level was March 2020, when the flagship Bitcoin faced a 50% drop in just a day on Black Thursday. And what I'm talking about here is this fear and greed index. So I find it very odd that people are this fearful in this time, because when we had the actual pandemic just ripping its way through the entire globe, we saw a massive drop in one day. So I could totally see that because that's never, ever happened in a 25 hour timeframe. And here we are in the same type of predicament at 15. I'm like, are we really that fearful? But I guess apparently some people are. Actually, I guess a lot of people are. And that's why I want to make this video. Anyhow, according to experts, extreme fear in the Bitcoin market and negative sentiment leads investors to better alternatives and may be a sign of an upcoming bull run. So this is just one part where I mean, we just see everything is just negative, negative, negative. And we take a look at it. Well, like, what's pushing that negativity? Well, the narrative is pushing it. The price is pushing it. The volume is pushing it. And some people to say this is just a little bit overpriced. But there is a couple of things that is helping off with this negative sentiment. And that is the Wizard of Fud, as I call them. And that is Scott Menard. This guy's, God, this guy's so good. So Guggenheim, Scott Menard and Bitcoin says 30,000 may soon fail. Send that a little tweet. And in a recent tweet, Scott Menard, Chief Investment Officer at Guggenheim said this, a technician's rule to remember with Bitcoin is every time a support level is tested, it becomes weaker. That would mean support for 30,000 may soon fail. There's these nice charts here. And Menard predicted that Bitcoin could sink to 15,000 or even 10,000 in late June. Well, that didn't happen, but it was a good try. And then later he reiterated his bearish call claiming that Bitcoin was in the middle of quote unquote a crash. So I'm just going to have everybody just do this. You've got to follow this guy. It's like gold. I mean, really, really good, good stuff. Scott, when he has a tweet, it's not his tweets that are great. It's all the responses that are just awesome. Razmataz says 100% of the time, this is true 50% of the time. This weird technical rule got me out and kept me out of so many good trades. I've done better by ignoring it. In my opinion, it's outdated. It doesn't apply in bull markets. Then you got Michael Saylor. Of course, he's got his thing. And then there's another guy here, YOR. Not necessarily. That is always the case. As you can see in the chart, the support held for over eight months and never broke. No one knows what will happen, not even you. If someone claims they do know, they're either a liar or a con. It is very true. Even me, I do not have a crystal ball. And I sure as heck, I'm not no Stradamus. So that is essentially what it is. And the last piece I want to talk about as far as the Wizard of Fudd is that he did say this. In December, Menard tell Bloomberg at his firm's fundamental analysis put Bitcoin at $400,000 just weeks after that in January. He told CNBC that there wasn't enough institutional demand to support Bitcoins all time high of $41,000. And that it could retrace the $20,000. And then just a little bit later in early February, he gave CNN his highest priced targets for Bitcoin, $600,000. So this guy is all over the place, but you have to understand, it's kind of like there's a jump between a trader mentality and an investor mentality. And what he's saying, I kind of get it where he's going, but it just kind of seems a little weird. Let me know what you think in the comment section. I'm not going to spend too much time on it. Let's move on to our next piece where my man Tim Draper comes in and saves a day, kind of. Draper says Bitcoin is stronger than Fiat. And he gives a price prediction, which I have to admit, price predictions to me are kind of like the cheese may. It's kind of like the different things you see on the tabloids. Like it's just good to talk about, but no one knows, but I do like to hear these things. So Draper's just so you know, Tim Draper, who is he? Well, he's an investor. He's done pretty good. He's not like an investor like just got lucky a couple of times. He invested in Baidu, Hotmail, Skype, Tesla, SpaceX, Angel List, Solar City, Ring, Twitter, DocuSign, Coinbase, Robinhood, Ancestry.com, Twitch, Cruise Automation, and Focus Media. I have to remember this. When you're an investor, you probably have a lot of duds, but he's picked a lot of good ones. Let's be honest. So when he's talking about Bitcoin and cryptocurrency, this guy's really behind it. And I like to hear what he says. So in 2018, when Bitcoin was trading for around eight grand, Draper predicted that Bitcoin would reach 250,000 by the end of 2022 or early 2023. And this really comes down to the mentality of the investor. So really you have to think to yourself, what am I? Am I a day trader, swing trader, or am I hitting it from the long haul? I can't tell you what to do. This channel is just investment opinion, not investment advice. And I just tell you what I'm doing. I'm just buying and holding and every so often dollar cost averaging, different cryptos. Usually I buy a different crypto every day and it just varies because I have it all set up on Voyager and some other platforms just to buy things for me because I think they're like superly, superly undervalued. That's just me. So to move on, this was a nice little article from Benzinga or interview. And they said, Hey man, are you still standing by your predictions? And he said, Yeah, I stand by my prediction. 250,000 per Bitcoin by the end of 2022 or early 2023. We've had many ups and downs and will continue to, but the global trust that decentralized frictionless open transparent Bitcoin will become increasingly popular. What should investors remember? Bitcoin represents freedom. Bitcoin is a matter of hedge against inflation. And there's some of the things that kind of got a little boring, but you get my drift. So and then some people will say, you know, is it really a great hedge against inflation? Look, you know, we had Steve Mnuchin just come out a couple of days ago and he said he changed his mind about Bitcoin. I didn't want to cover it because it's kind of long, but just to paraphrase Steve Mnuchin, Treasury Secretary, old one, came out and said that, Yeah, he thought it was just a scam. It was awful, but he puts it right on par with gold. He did say he would not be investing in the Bitcoin, but he can see why people would buy Bitcoin and gold. So I was like, well, that's a start. So here we are, another example. And I think that's just good to show a little bit of positivity. Anyhow, let me make sure you think of the comments section. Let's move on to our last couple pieces. And this will go quick, just talking about Bitcoin mining. And this was a report shows bit digital. I don't know who they are, honestly, but they transferred a ton, 14,500 miners from China to the US. And it's interesting that I always thought that the Chinese miners or these mining companies, they just were reactive and not proactive, but I was wrong. So on July 13th, the company Bit Digital revealed that it was migrating 14,500 Bitcoin miners to the US after the crackdown, which China crackdowns every year. So whatever. As of June 30th, Bit Digital reported that it owned approximately 3,500 miners, which produced roughly 1.92x a hash per second of hash power. Talk to me in the comment section. I believe that's a lot. I could be wrong. I'm not a miner, but it sounds like a boat load. And to finish up, at the end of the report, Bit Digital explains that it has been migrating miners to North America and has been since October 2020. So they saw the running of the wall and they were doing the right things. And I think that's why they hopefully they're up and running because I know the infrastructure takes a long time. They did state this, during the quarter, the company shipped 14,500 miners to the US. The company expects to complete the migration of its remaining China-based miners to North America early in the third quarter of 2021. And I know that there's this metric, which shows that the increase in hash power has a direct correlation to the price of Bitcoin. So if we get these Bitcoin miners up, apparently the price will go up and that's great. To me though, in all honesty, I don't see a breakdown in the infrastructure of Bitcoin or the actual network. I think there's been no double spending. There's been no hacks. I think it's working out okay. So do we really need that many miners? I don't know. Personally, I don't think so. I don't see what the whole big deal is. Why do we need so many miners? I mean, I think the network is pretty secure. Check me in the comments. Maybe I'm wrong here. Let me know. And then also, I just wanted to follow up here. Here's a guy, nice little Texas flag. Good job. Good choice. Great state. And this is Alejandro de la Torre. And he is the official vice president of Pullen. So who's Pullen? Well, here's the website. Pullen or pullen.com. Just a big mining pool. How big is Pullen? It's pretty big. And if we can take a look here, let me blow this up. So this is from news.bitcoin.com. And you got F2 pool, 21.3%. This is in 2020. So it may have changed, obviously, right? And then here's Pullen, 16.6%. And here's Pullen with their beautiful Bitcoin miners, now sitting in Texas, where they should have been the whole time. So welcome. I'm glad you came. We got a lot of solar and wind power, very clean energy, so you can get other narrative dismissed. And I'm glad you're here. I'd love to have you in the show sometime. We've already talked to the Winston CEO, a new mine CEO. So I'd love to have you on and just talk to you. I've already sent you a message. My man Alejandro. So chop, chop. Let's get on the chill. Anyhow, I just think it's good news that Bitcoin mining is alive and well, transferring over to North America, EU, and even Kazakhstan. I could care less. I just wanted out of China. And I'm happy about it. So let me just think of this as a bullish move or neutral or negative. And we'll finish up with what I think is a pretty good call to arms and a good way to just really kind of just focus on the big picture. And this is YouTube superstar JJ. I don't know who this guy is. I'm just not cool. But he did make a lot of sense in this article. He says he made and then lost millions in Bitcoin. And look, just real quick, you don't, as an investor, you don't lose anything unless you sell. So just so you know that. And you know, I remember 2017, I bought a lot and I saw the value go down. I never sold. I just said, you know what? I'm the business of losing money and I dollar cost average my way out of it. And I made a lot of money over those that timeframe. And it wasn't easy. But you know what? Sometimes you just got to hammer down or just go, you know what? I think I know where things are going and you could be wrong, but you just try it. And here we are. So this was pretty good. JJ was asked about a rumor of impending a lot of money into Bitcoin. And he said, yeah, he goes, I put 2 million into Bitcoin. Well, I said Bitcoin, but this was in a cryptocurrency. So probably a big basket. I made 7 million. That's pretty good. 2 million to 7 million. And now I've lost it all. So I was thinking myself, how'd you, because he invested like not too long ago. When was this? Like early summer, somewhere around there. And I was like, okay, well, how did he lose it all? He said it's been a full journey, but I had to experience it. I had to really delve into the whole crypto space. And you know, I fully understand that now I put money in things where I essentially leveraged myself and I kind of over leveraged. I say that for a reason. I don't like leverage traders. I mean, if you know what you're doing great, but a lot of you don't, but let's just admit it. It's called spade of spade. I don't know a lot of things. I mean, I try to dip my feet in, but if I'm going to put, if I don't know what I'm doing and I go super risky and sell my house, my cars, my kidneys and leverage myself, I don't really know what's going on. It's a bad move. And never, usually 99% of the time doesn't end too well. I could be wrong, but that's, that's look, I get emails weekly on people who get wrecked and they're like, what should I do now? And I got to tell my wife, I'm like, should have told her before. Anyhow, I kind of overledged myself to a point where I lost money because I got liquidated. So I put a lot of money to something I got liquidated because of the Bitcoin crash. And that's the problem. Like you make a bunch of money and you think you're a genius, which JJ could be. And then all of a sudden you get a little too greedy and all of a sudden it gets wiped out. It's okay. Happens. Good learning experience. But I like what JJ says here. It is what it is. I'll move on. There's no point crying. And I realize that during the bear market is when you want to invest in things. Genius. Genius. This kid figured it out and like no time flat. Congratulations. That is, that takes, that took me a long time. I'm just not that smart though. He was also asked whether investing in Bitcoin was like gambling. He says, no, I don't think it is. I don't think it's gambling. It's not gambling. No. Bitcoin is here to stay. It's the future. It's just that no one wants to accept it. Same with Ethereum. It's all fluctuates, but it's going up. If you stand back and look at the whole picture, it's slowly going up and eventually you're going to get a hundred thousand Bitcoin, a 500,000 Bitcoin, and a million dollar Bitcoin. It's going to happen. And then here's the big point. Maybe it might take five, 10, 20 years, but it's going to happen. And that's kind of like the big thing that we've been talking about here in this channel, which I don't know when it's going to happen. And I'm not sticking around for Bitcoin to hit a million. I'm never going to sell all my Bitcoin, but along the way I do have an exit strategy because my goals are not your goals. And I have goals of owning more property and putting that into businesses. And when I want to do that, I either got to sell it or I got to put it up as a leverage as far as a collateral loan. So again, I think things are going to go up. I think they're going to do pretty well. Just the timing. I cannot tell you exactly when the timing is. It could happen in a couple of months. It could happen in 18 to two years. I have no idea, but I just know I'm in here for the long haul and I'm just an investor. That's all I got for you. So look, I know it's been tough lately. There's been a lot of negativity, but just when in doubt, zoom out, take a look at the big picture, see where we're going and realize it's not going to zero. And that's really all I got for you. So look, it made all the way in. Thanks. I appreciate it. If you liked the video, give it a thumbs up, a like, consider subscribing. I think we talk about here are very time sensitive. And over on Dan Clips is more of like the more advanced stuff, which we're going to go over shopping IO and Avalanche. When I get to go ahead from those companies, get going. I already made the video just waiting. Anyhow, but that's it for today. Thanks so much for watching. I appreciate it. See you on the next one.