Crypto YouTube: week in review

This article reviews some of the most viewed videos published by the top five cryptocurrency YouTube channels, namely Coin Bureau, Altcoin Daily, CryptosRUs, Ellio Trades Crypto and Data Dash.

Coin Bureau

In this week’s most viewed video, Coin Bureau explores the concept of smart cities, which are technologically advanced urban areas using sensors and electronic methods to collect data and manage resources efficiently. The World Economic Forum (WEF) has been promoting the development of smart cities, with roots dating back to IBM’s 2008 marketing campaign, “Smarter Cities.” These initiatives address pressing issues such as climate change and energy crises.

Smart cities leverage internet-connected devices like home appliances and vehicles to track and manage citizens’ activities. Singapore has emerged as a model for smart cities, using advanced technology to monitor behaviors like littering and smoking. The WEF, the secretariat for the G20 Global Smart Cities Alliance, is focused on implementing smart cities in developing regions like India, Latin America, and Africa. The UN’s Sustainable Development Goals mandate that all 193 member countries adopt smart city initiatives by 2030.

However, concerns about the WEF’s smart city projects have arisen, with issues such as a lack of government accountability, cybersecurity standards, privacy, and transparency regarding data use. The WEF’s partnership with companies like Telefonica, Microsoft, EDF, and Siemens has been met with skepticism due to previous failures in smart city projects stemming from data-harvesting and over-policing. These concerns have led public and private sector entities to question the viability of the WEF’s smart city initiatives. Moreover, cities built from scratch have demonstrated a lack of cost-effectiveness and misalignment with social ideals, further eroding support for these projects.

An article from Gold, Goats ‘N Guns suggests that the WEF’s smart city initiatives will fail due to their inability to appease ideological allies and coordinate the top-down creation. The article highlights that practical issues such as public transport, policing, and parking will continue challenging urban areas, regardless of technological advancements. Instead, the key to city success lies in focusing on traditional factors that have always contributed to thriving urban environments, including economic, cultural diversity, and vibrant public spaces.

Despite these criticisms, the WEF continues to push its network of young global leaders and shapers towards positions of power, aiming to gain control of governments, states, and cities to further promote and implement their smart city vision. As the debate over the benefits and drawbacks of the subject continues, it remains essential for all stakeholders to carefully weigh the potential impact of these initiatives on privacy, security, and social justice. As the global community grapples with the challenges of urbanization, climate change, and resource management, the discourse surrounding smart cities will undoubtedly play a critical role in shaping future urban development strategies.

In conclusion, Coin Bureau’s video sheds light on the WEF’s ongoing push for smart cities and the potential pitfalls associated with their implementation. The discussion highlights the need for greater transparency, accountability, and consideration of social implications when pursuing such ambitious technological projects.

Altcoin Daily

In this week’s Altcoin’s Daily most viewed video, veteran trader Gareth Salloway shares his expectations for the Federal Reserve to raise interest rates by 25 basis points, despite challenges in the banking industry. He argues that people are increasingly moving their money from fiat currencies to cryptocurrencies. Salloway believes that rising interest rates could trigger a recession and significantly impact the stock market.

Investor and trader Scott Melker also expressed concern that the Fed’s decision to hike interest rates may disrupt the markets. Melker thinks a recession is a real possibility, forcing the Fed into a pivot that might last until 2024. He predicts a potential stock market slump of over 20% by the end of the year.

Regarding bitcoin (BTC), technical analyst Gareth Soloway is monitoring its performance closely. He speculates that if the banking crisis stabilizes, money invested in crypto during instability could flow back into fiat systems. Soloway remains bearish on BTC’s upward trends, predicting a pullback to the $20,000 level.

Bitcoin analyst Sean Boyd, on the other hand, believes that current economic conditions and government policies will eventually lead to a significant increase in bitcoin’s price, though not for at least another three to five years. Boyd contends that as the US economy becomes more dependent on Fed policies, investors will turn to crypto during the next recession for better returns. This shift is expected to coincide with increased institutional involvement in crypto as regulatory certainty improves.

Despite the upcoming bitcoin halving event in May 2024, Boyd predicts the market will take longer than 12 months to reach new all-time highs. He anCryptosRUsticipates the bottom in the bitcoin market will likely occur within the next 6-10 months. Additionally, BTC dominance usually increases during bear markets.

Ethereum’s (ETH) year-end price target is projected to be around $900, following a potential final flush out. This double bottom could present an opportunity for investors to enter the market. Altcoin Daily’s educational efforts are applauded for helping people better understand cryptocurrencies, emphasizing that knowledge is crucial for success in this field.

CryptosRUs

In a recent video by CryptosRUs, the focus is on bitcoin’s increasing strength due to banking fears, with upcoming announcements expected to boost its value further. As Credit Suisse faces potential failure and UBS offers a low bid for a buyout, concerns about traditional banking grow. Mid-sized US banks request the FDIC to ensure all deposits for two years, indicating possible bank collapses. This situation has led to people seeking alternatives, with Bitcoin emerging as a safe haven for investors.

This week’s upcoming FOMC meeting is crucial, as predictions on interest rate changes are rampant. The speaker contrasts bitcoin’s monetary policies with fiat currencies, emphasizing that BTC cannot be manipulated through quantitative easing. With bitcoin’s fundamentals remaining strong, a breakout in the coming months is anticipated, reminiscent of 2019.

While the COO of Coinbase believes bitcoin could reach a million dollars in 90 days if all banking collapses, the speaker does not think this will happen so soon. Bitcoin currently leads the market during recovery, with altcoins eventually following. However, the speaker reminds viewers that banks’ high leverage and questionable management practices make bitcoin a more appealing option for many investors. As BTC continues to lead the market, altcoins will need time and patience to recover.

Although bitcoin is not yet mainstream, its growing popularity signals a shift in the financial landscape. Ethereum, an altcoin, has been keeping up with bitcoin but has not surpassed its value. With an estimated $300 billion spent on bank bailouts and more expected, people are increasingly drawn to cryptocurrencies.

The speaker also discusses various cryptocurrency topics, such as the potential recovery of specific tokens, preference for Avalanche over Solana (SOL), the stability and security of the Bitcoin network, and the risks associated with investing in altcoins. They mention the historical importance of gold and silver as forms of currency, adding that while many alternative cryptocurrencies exist, their popularity and value may not match bitcoin’s in the future.

Ultimately, bitcoin and altcoins do not compete with each other, and their survival will depend on their usefulness and innovation. As more negative banking news is expected this week, bitcoin is anticipated to grow even stronger, solidifying its position as a viable alternative to traditional banking systems.

Ellio Trades Crypto

In a recent video by EllioTrades, the current financial crisis is examined through the lens of a report by Jason Yanowitz. The crisis is said to be different from previous ones. Individuals can opt out of traditional financial systems through cryptocurrency for the first time. With the first banking failure in the United States in nearly 15 years, Yanowitz argues that the Federal Reserve’s attempts to boost dollar funding will only temporarily contain the crisis.

According to Yanowitz, the Fed crisis is just beginning, and their continued money printing efforts will lead to a recession and dollar devaluation. He sees this as a time of asymmetric risk to reward, with the potential for bitcoin’s value to skyrocket to $280,000 or even $1 million.

As the US Federal Reserve prints more money to combat losses from the COVID-19 pandemic, borrowing at the discount window has surpassed levels seen during the great financial crisis. The Fed is paradoxically printing even more money in response to rising inflation.

EllioTrades emphasizes that those interested in betting on cryptocurrency must be prepared to risk everything they have, as there is potential for complete loss. However, he also sees the current situation as a flashing bat signal, indicating that it might be the right time to allocate funds to bitcoin. EllioTrades cautions that investing in cryptocurrency is not a shortcut to easy money but rather an opportunity to opt out of a broken financial system.

As the financial crisis unfolds and traditional systems continue to falter, more and more people may turn to cryptocurrencies like Bitcoin as an alternative. With the potential for significant rewards, the current situation presents a unique chance for investors to explore the world of digital assets and consider distancing themselves from the instability of conventional financial institutions.

DataDash

Crypto YouTuber DataDash, also known as Nicholas Merton, offers insights into the current state of the cryptocurrency market and its short-term prospects. He believes bitcoin may experience fluctuations within a range for several months before encountering resistance at a significant volume profile. Merton also touches on the broader macroeconomic environment, including UBS’s acquisition of Credit Suisse, equity performance, and central bank monetary policy.

While some speculate about hyperinflation and bitcoin reaching a million dollars, Merton cautions against getting caught up in euphoria. He explains that bitcoin often underperforms during times of fear and uncertainty and advises viewers to focus on the broader narrative and significant chart points.

The market is experiencing a relief rally, with positive order flow and a bullish trend for bitcoin. However, this trend is not reflected in altcoins, which show long-term weaknesses. The performance of equity markets, particularly the Russell 2000 index tracking small-cap stocks, suggests potential market instability. Additionally, there may be a contagion risk to global markets due to regional bank issues.

Merton emphasizes that despite the market’s positive signs, investors should remain aware of underlying risks. He also discusses the liquidity trap and the weak links in the cruise and airline industries, warning against chasing extreme market narratives, particularly those predicting Bitcoin to reach $1 million. Merton argues that such extreme predictions often underestimate the inherent stability of complex systems. He also notes that large-scale institutional investors are inactive in the market. At the same time, retail volumes remain high, suggesting that current prices are too high for institutional interest. Federal Reserve policy is cited as a crucial factor in market stability.

Investors should be cautious when considering investments in overvalued tech companies and the cryptocurrency market during the first quarter. Merton explains that the Federal Reserve’s intervention is intended to save the economy, not to cater to market demand. With contracting economic forces, monetary policy contraction, and a rapidly changing global supply chain, investors should trade with the Fed rather than against it and be patient for opportunities to arise.

Although bitcoin may not be an ideal alternative hedge during times of panic, it works well during exuberant growth, optimism, and excess liquidity. Despite the contraction in liquidity and a neutral base money supply indicating that it may not be the next bull market for bitcoin, Merton suggests that those looking to hedge could have 1-10% exposure to assets such as gold or bitcoin. He encourages protecting and preserving capital rather than attempting to predict the market.