This is tony with journey crypto in this video we’re going to be discussing some very major, cryptocurrency news that did get announced yesterday. The ceo of visa is talking about getting into cryptocurrencies, so we will discuss this and some other bullish stuff as well, with elon musk and tesla, and bitcoin and uh ripple xrp continuing to pump still so before we get started. I do appreciate, if you guys liked the video subscribe to the channel if you haven’t already and hit the bell to be notified when i release new crypto videos. So we have some very bullish news in the crypt of space over the past 24 hours i’m gon na be getting into all of this and why i’m very bullish on cryptocurrencies for the first couple weeks of february, as i have been saying, i do believe bitcoin Uh will be testing 50, 000 and ethereum testing 2000 in the upcoming couple weeks, especially depending on what type of announcements we have coming if elon musk announces anything with bitcoin, i think that could be really major as well. He did add bitcoin to his profile description. Him just doing that pumped the price of bitcoin 20 basically instantly, and he hasn’t mentioned anything else besides that, yet i think he is trying to give uh retail investors a chance to get in before he makes an announcement and all these institutions start jumping on board. As well so really there could be a number of different possibilities with elon musk getting into bitcoin and cryptocurrency.
I did see somewhere uh. He actually liked to post as well on uh defy and cryptocurrencies, and then he did make um a twitter post. At the same time as adding that to his profile, saying in retrospect, it was inevitable. So at the same time as him posting bitcoin, he has been exploring the option of investing in bitcoin and also michael saylor. Uh did reach out to him as well. Who is the ceo and founder of um microstrategy here and microstrategy has been buying up bitcoin uh since about mid 2020., they own over one billion dollars worth of bitcoin now and because of them buying that bitcoin their stock is actually up 113 as well, and they’re Up huge on the bitcoin they bought, since the majority of the bitcoin they bought was underneath 20 000 bitcoin, and they continue to keep making purchases as well. He actually reached out to elon musk on twitter and he was um talking about having tesla buying bitcoin and elon. Musk was asking, if that’s even a possibility, so they could have already had a couple meetings here and elon musk could be getting into uh bitcoin through tesla as well, and if they do that, a major announcement of tesla buying 500 million or even a billion dollars Worth of bitcoin would make major breaking news in all the major uh news outlets. Elon musk is the richest person in the world as well uh. So this would definitely make the crypto space very bullish again and would definitely give the momentum needed to push bitcoin up to 50 000 and um pretty much.
The entire crypto space in general will start moving up. So we also had major news of visa ceo discussing and getting in with cryptocurrencies as well, so visa may add cryptocurrencies to its payment network, says ceo – and this goes very in detail on this – some great things for the crypto space here so over the past couple Of years we have seen visa doing a few different things relating to cryptocurrencies. They did some patents and stuff now they’re, actually discussing getting into crypto. So by end of 2021 we cannot only have paypal, doing crypto merchant payments, but also visa, and those are two of the biggest payment processors in the world. So it doesn’t get much better than that for cryptocurrencies that’s, really when crypto gets put on the map and it becomes extremely accessible to the entire world. So this is major news. The ceo of visa, even discussing this so visa ceo, said the payment giant is in a position to make cryptocurrencies more safe, useful and applicable and may add them to the company’s payment network. So really huge right there, even uh saying that is extremely bullish, so kelly described cryptocurrencies like bitcoin as digital gold, which are not used as a form of payment in a significant way at this point, but him uh adopting this would really uh put it on the Map and bring it to that point, so our strategy here is to work with wallets and exchanges to enable users to purchase these currencies using their visa credentials or to cash out onto our visa credentials to make a fiat purchase at any of the 70 million merchants.
Where visa is accepted globally, this is extremely massive and it would basically create a bridge between fiat currency and uh cryptocurrencies with your visa card, so you’d be able to go to any of these 70 million locations and instantly pay with one of your cryptocurrencies, and it Would instantly sell the crypto for fiat currency and then uh paid the merchant with that fiat currency and you’ll also be able to buy cryptocurrencies through your visa as well so uh. Making this extremely accessible is just massive uh paypal as well getting on board in quarter. One here in the next couple months, so this is one of the biggest things that’s happened this weekend and i didn’t even see too many people talking about this, so this on top of paypal, is going to make cryptocurrencies extremely accessible throughout 2021. We have more and more exchanges offering cryptos as well, so i do want to talk about why ripple xrp continues climbing here and it’s, getting close to 50 cents here and why i believe a dump could be coming very soon, especially with the the rest of the Market in the red, as well so uh, some news for ripple, uh, ripple files, court response to the sec’s xrp lawsuit. So shortly after this happened, a pump and dump group did get a hold of this, and then they decided to jump on and pump xrp. So there is some news about this: xrp price gains 86 after wall street bets crypto wing says pump it, and there were some telegram groups pumping it as well.
Um telling people to hold for three days and they were gon na pump. The price xrp posted biggest single day gain in three years in a coordinated buying attack, so lots of buying pressure from this, even though it’s hard to get right now, since it did get removed from a lot of exchanges because of this lawsuit. So, overall, what it looks like is a lot of this price action is driven by uh pump and dump groups that are going to be taking profits here very soon. In my opinion, unless some other news comes out for this lawsuit, that uh continues buying pressure, i don’t think xrp is gon na hold up here. So we have to be very careful in this bull market because there’s going to be a lot of pump and dump groups that do take advantage of retail investors and they try to make them fomo into cryptocurrencies, while they’re up a lot. A lot of people buying xrp right now could be at a huge loss, and that is bad for the crypto space in general. Once all these um pump and dump group people start dumping on the market, that’s going to be a lot of selling pressure. So unless the crypto space starts moving up in general here, i don’t think xrp is going to be holding here unless some other major news for xrp breaks with the ripple, lawsuit or something as well so uh. We do have to be careful of this.
The smaller the cryptocurrency gets the easier it is to manipulate as well for these pump and dump groups, so just be very careful that’s. Why? I like doing dollar cost averaging and finding cryptos, i believe in for the long term, with a good long term. Vision and a good team and building good utility for the token is very important as well. If you have a cryptocurrency that’s from a company, that’s doing big things but they’re, not using the token for anything useful, then that really doesn’t give the token utility. So what reason do people have to even hold it and buy it? So the whole thing going on with wall street bets and pumping stocks and cryptocurrencies like dogecoin, is really bringing a lot of new people to the crypto space, which is a good thing. The ceo of binance here posted all time, high of everything user signups deposits trades system loads. So this is a great sign that there’s a lot of buying pressure coming into the space uh. These platforms are very backed up, so this means, as they approve new users. That’S buying pressure that’s continuing to trickle into the markets, which does give buying support and should be pushing up cryptocurrencies in general, so bitcoin and google trends. We had this huge spike here in trend level as soon as elon musk added bitcoin to his profile description at 1am on january 29th and since then, it’s been dropping off slowly, and this is because there’s no official announcement and he hasn’t stated anything else about bitcoin.
Yet as well, but he still does have it in his uh profile, as you guys can see here, and he actually is doing one of these uh clubhouse talks tonight at 10 pm. So there could be a hint of that dropped in this talk as well. So very interesting, um anything that comes out in the next week or so any type of announcement of elon musk buying bitcoin. If tesla’s buying bitcoin, if tesla’s accepting cryptocurrencies as payment for tesla products, any of that could really set cryptocurrencies off and um. I really think uh, something like that is going to be coming, especially uh, since michael saylor did reach out to elon as well and he’s heavily invested in bitcoin over 1 billion dollars. So i do think buying pressure will continue to rise here in the first couple weeks of february, and i do think a lot more good news is coming. We have both paypal and visa, getting on board with cryptocurrencies, making it very accessible, which is just massive, and we have major inflation and more stimulus packages being printed, causing even more inflation in the future, which does push up the price of cryptos uh. Because the price of uh usd is gradually going down as the purchasing power goes down, so it takes more fiat currency to buy the same amount of cryptocurrency. So an article today did go over this as well. Is the weakness of bitcoin after the elon musk pump? Hinting at a bull trap, the thing is that wasn’t really much of a pump.
He just added it to his profile description. He didn’t even mention that he officially bought bitcoin yet so we have no idea what’s in the works with that, and what type of announcements could be coming out of that as well, and what i think is happening here is: he is giving retail investors that chance To get in at the lower prices before this uh breaks in major news outlets and his mainstream news, because the price will go parabolic as soon as that happens. In my opinion, it’s gon na bring a ton of new interest, especially with the tesla stock uh. Doing so crazy this year as well, so i think this is a huge possibility that something is in the works with tesla and elon musk and bitcoin. So some other uh crypto news in the space today as well fortnite founder, says, nft tech going places but currently speculative mess, so there’s. Actually, a ton of nft news coming out over the past couple weeks: i’m gon na do a separate video this week coming up explaining nfts and my stance on them and why. I believe some of them could be a good investment for the future as well. And why i think the nft space is going to continue growing we’re, seeing a lot of cryptocurrencies creating nft platforms, basically open marketplaces where you can create nfts, sell, sell and buy nfts as well, so huge uh future market here for nfts and the fortnight founder.
Commenting on this is pretty huge as well, so institutional demand for crypto isn’t subsiding, but impact will be gradual. So as we keep hearing, institutions are continuing to buy bitcoin. I do think they’re going to be buying up ethereum, more and more as well, and a lot of institutions are waiting on the sidelines right now for the volatility to die down, and i do think we’re seeing um the crypto space go sideways right now. So that is a good sign that institutions might start buying in again, especially if any other major news does break as well like we did talk about. So this is good. Institutional demand will continue growing in my opinion, and institutions that are already involved will continue buying. As well as we have seen with microstrategy continuing to buy a couple hundred million dollars worth of bitcoin here and there on the dips so uh why the crypto world needs to build an amazon of its own amazon and ebay. Don’T appear to be in a hurry to start accepting crypto uh. Does the digital asset sector need to create a platform of its own? So i have seen a couple platforms that have been starting to develop trying to do this, but this is going to take a long time to play out. So something else to consider is that ebay owns paypal, so it’s very likely that ebay will be accepting crypto payments once paypal, crypto merchant payments are enabled later in quarter.
One and there’s gon na be millions of merchants, accepting bitcoin, ethereum, litecoin and bitcoin cash as payment for the first time ever. Imagine how many announcements are gon na come out of that and how much news so there’s, just too many big things happening in 2021 for the crypto space not to move up, i don’t think we’re peaking out like we were at the peak of the last bull Run and i don’t think things are going to drop off if anything. The level that we’re currently at i think is similar to mid 2017 here, where we actually got our first major uh huge bull run in the crypt of space, going from around 15 billion dollar market cap at the beginning of 2017, up to around uh 110 billion Dollar, cryptocurrency global market cap for the first time ever and then it did have a small dip here, as you would expect people selling uh with massive profits, but in general the sentiment was good throughout 2017 people kept buying. This is really when i got into crypto um and started dollar cost averaging as well. I did it on bitcoin in 2015 back here when bitcoin was just around 200, but i didn’t own much. I wasn’t doing dollar cost averaging, which was a major mistake. I also looked into mining bitcoin back in 2013 when it was just around 30, so um. I learned my lesson three times here so i started dollar cost averaging mid 2017 and that was a great choice because obviously we went up um to nearly one trillion dollar.
Crypto global market cap from that point, so if things play out similar uh to where we are right now we will be getting to around eight to ten trillion dollar crypto global market cap by the peak of this bull run so we’re. Seeing a lot of people pushing elon musk to accept payment for uh, tesla cars and trucks in bitcoin and cryptocurrencies bitcoin billionaire tim draper to elon musk i’d buy the tesla cyber truck with bitcoin honestly if they started accepting payments. I would do that as well and i’d be much more likely to buy one sooner than later. So a lot of people are messaging elon musk, showing their support as well. I definitely think it’s a possibility, but i do think they’ll be acquiring bitcoin before uh before they make an announcement that they’ll be accepting bitcoin and cryptos as payment for tesla products. So some major things to come here: elon musk is the richest person in the world. Tesla stocks have gone crazy over the past few months as well. Um. Any type of announcement from this is really going to bring a ton of new attention to the crypto space. So i’m really looking forward to this, and i definitely think this is going to play out over the next month or two. So i think february is going to be very great. In general, i do see bitcoin testing that 50 000 resistance and ethereum 2 thousand dollars. So those are both new all time highs for both, and i do think those are major uh mental resistance barriers, since we haven’t been at those prices before we don’t have any resistance levels to base that off of so in the short term.
Anything can really happen, as i always say, especially with new people in office. New regulations coming into play. Any bad news at any time can really cause panic and cause a temporary dip, but that’s why i do dollar cost averaging and i uh buy on those dips. Anytime, they happen, accumulate more cryptocurrencies and usually they recover, and i think we will be on an upward trend throughout 2021 in general, with all the major things happening, uh very bullish in general. So what you want to do is be ahead of the herd and not fomo in after everyone else has and be at the back of the herd, because at that point people are starting to dump and that’s really when things get very volatile and you could risk Losing a high percent of your investment there, so getting ahead of the herd is very hard. You have to put a lot of time into this and effort constantly researching, watching the news being in different groups, it’s all very important following a lot of people on youtube and twitter that make these calls. This is why i’m creating a crypto membership group to give alerts and news and stuff as it breaks and show you guys what i’m doing as well. So i will let you guys know more about this crypto membership. As i get things figured out, i am hiring some technical analysis experts as well as some other people, to help out with this i’m trying to make this a huge crypto platform uh to bring a ton of value to you guys for a cheaper price than the Average youtuber that does a patreon for a crypto group, and this is going to be a platform that you could log into private, chats and everything.
So i will be doing a pre sale for this, where you can get 60 off the first year coming up very soon and i’ll be launching that bigger crypto giveaway coming up, probably launching it next weekend here so stay tuned for all that uh lots of huge Things to come, thank you guys so much for watching. If you appreciate the content, a free way to support the channel is like the video comment below and share this video anywhere on social media or with friends and family. Everything helps the channel grow and i do appreciate that again. Thank you guys.