 Hi everyone, I'm Giovanni and today with us Mati Grinspan, Senior Market Analyst at eToro with the latest market updates. Hi Mati, how are you doing today? I'm doing great, how are you today? So the market this week closed with a very much bullish movement and many analysts are predicting an upcoming surge to the mid-9000s. Do you agree with that? Well yeah, I mean as you know past performance is not an indication of future results. However, everything that we've said lately has been playing out to a tee. We spoke about this pullback already, consolidation and just last night we saw a breakout above that consolidation zone. Almost just stopping shy of $9000 per coin. What's really incredible here is that the pullback, when it came we saw that it was not very deep. It didn't take us all the way back to $6000 like some people were thinking and it broke very quickly. I mean that consolidation range that could have lasted for months but as we see it didn't and we already saw an upward breakout which is an incredible sign. Okay, so what do you think is the main resistance level that we should keep an eye on now? The main resistance level, the only major resistance level that I see is $20,000. That's the all-time high. There's a minor resistance level at around $10,000. But who knows? I mean it's always possible it could turn around now. This is a high-risk asset. But as we've stated before there's a very real chance that this could go parabolic. We could surpass the all-time high as Bitcoin has done many times in the past. Alright, so some other analysts have been defining this latest surge as a formal phase. And they are expecting some kind of corrections coming soon. Do you agree with that and if so how low do you expect Bitcoin to go? So in my professional opinion we have not yet reached peak FOMO. This is actually Google Trends we can see for the search term Bitcoin. Here's the 2017 peak. And you can see that over the last few weeks people have been looking for Bitcoin a bit more. But basically we're not quite yet at the levels that we were of excitement in 2017. Now if we do reach something similar, so this 2017 level, this chart actually looked like that before 2017 where 2016-2013 actually saw this type of range and then this was actually flattened out later on. So this one for example looked like this and now it looks like this. When we get to peak FOMO this one's going to flatten out as well. Very likely obviously we don't know the future but this one could very likely flatten out as we reach even more greater heights of awareness of Bitcoin. So no I don't think that we're in peak FOMO. If this is the start of another parabolic cycle we are just getting started at the moment. Alright and what about like possible corrections? Do you see any possible correction coming and how significant? There's always a possibility of a correction. I mean we could come back and test that 6400 level. That main stabilization period has not yet been tested as a support. I feel that if we don't get another test because yesterday we broke above that 8000, basically turning 8000 from a resistance into a support line. If we don't get a test of that 8000 I'd be a bit surprised. That would just show really how much this market has momentum. But I think that it's very possible we can come test down 7500 or we could continue on from here. I mean it's really the future is wide open at the moment. So any altcoins we should keep an eye on? Yeah I mean for the most part Bitcoin has been where most of the action is at. I'm also holding a large amount of BNB in my portfolio. When I say a large amount I'm talking about 3 or 4% not anything crazy. It's just been outperforming the markets on a very steady level. Just because of everything that Binance has been doing they've basically turned into a powerhouse. They're one of the most profitable financial institutions on the planet and that's including the recent hack. Litecoin as well has been outperforming Bitcoin on some time frames. I would say that that's another promising one that I'm holding in my portfolio. It's the second most established crypto in the market. It has a very large community base, very positive. And we also have the halving coming up very soon. So also another one that's on my radar. Did you see any fundamentals in the news that can explain the surge in crypto prices? Yeah definitely there's a lot of news items that actually... So there aren't as many news items and I've seen a graph recently that looked kind of like our Google Trends chart where the volume of news articles at the moment are not as much as there was in 2017. However the quality of the news is much brighter. This is basically things that point to the fact that it's very possible that mass adoption is right around the corner. So things like the AT&T, I think that's completely huge. It just allows people to spend money and fidelity of course coming online very soon. There's just so many news articles, Microsoft trying to increase online security using the Bitcoin blockchain itself. This basically just shows us how much crypto is coming into the limelight at the moment. The other thing that I want to point out is that the breakout that we had last night happened on very strong volumes. It's not close to what we saw on May 16th where we saw record high volumes across exchanges and across different platforms. But right now, Misari Crypto is tracking for the real 10 crypto exchanges 1.7 billion dollars in volumes. That's almost double what it was just a few days ago. So this breakout is very significant at the moment. We were here with Mati Grinspan from Itoro. Thanks a lot Mati and see you next week. Thanks a lot for having me. We'll see you next week. In 10 minutes, trade multiple pairs. Choose between long and short strategies. Use tech analysis indicators and see your results in real time. Trade Santa works 24-7 to get you the profit you set. The platform is already integrated with Binance, BitTracks, Bitfinex and HitBTC. The link is in the description below.