Crypto Jebb provided an in-depth analysis of Bitcoin’s recent performance and future projections in a recent video. The CoinSpeech team has compiled the most important insights from his appearance, which you can find below.
Watch Crypto Jebb’s new video below.
Current State of Bitcoin
Bitcoin has experienced a challenging time recently, with an initial rally up to $722,000 followed by a significant drop of $13,700 over 17 days. As Jebb notes, “Bitcoin has not seen a very large recovery at all over the last couple of days.” This stagnant movement raises concerns about whether there is more pain ahead for the cryptocurrency.
Market Indicators: Mixed Signals
- RSI and MACD: The Relative Strength Index (RSI) on Bitcoin’s daily chart has recently broken above its 14-interval moving average, indicating a potential buy signal. Similarly, the MACD is converging bullish. Jebb expresses cautious optimism: “This could develop into something later this week.”
- Resistance and Support: Bitcoin’s recent inability to sustain a breakout above $62,500 raises doubts. Crypto Jebb emphasizes, “Bitcoin broke through the resistance here at $62,500 but fell right back down towards the exact same level again.”
Looking Ahead: Factors to Watch
- Ethereum ETF: The upcoming Ethereum ETF could mirror the initial excitement seen with Bitcoin’s ETF approval. “We predict four to 14 days of corrective movement after the Ethereum ETF goes online,” Jebb explains.
- Interest Rates: The potential for interest rate cuts in 2024 could significantly impact Bitcoin and the broader stock market. According to Jebb, “Rate cuts not happening now means they still sit on the horizon waiting to happen.”
- Seasonal Trends: Historically, the second half of the year has shown robust performance for Bitcoin. Jebb anticipates that Q4 of 2024 and Q1 of 2025 will likely see more bullish movement.
Wealth-Building in Cryptocurrency
Combining his expertise in cryptocurrency and wealth-building, Crypto Jebb shares vital principles for financial sovereignty:
- Choose Financial Sovereignty: Be under God’s guidance and control your investments.
- Live on Less Than You Make: Avoid investing if you’re financially unstable.
- Have a Written Plan: Create a budget and an investment strategy for cryptocurrencies.
- Run Away from Debt: Avoid using borrowed money to invest in Bitcoin or any other cryptocurrency.
- Save and Invest: Actively invest in Bitcoin and Ethereum, but only after achieving financial stability.
- Be Radically Generous: Ultimately, aim to give back and be generous.
As Jebb puts it, “If you follow these principles with your investments, you will succeed.”
Ensuring Investment Safety: Vault
Jebb recommends using Vault to secure your Bitcoin investments. “Vault is a form of insurance,” he notes. For $49.99 a year, it provides peace of mind, ensuring that you can recover your keys and keep your Bitcoin safe.