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welcome back to the world of cryptos
and welcome back to the crypto corner
today i've got two things for you
first the first one is linked to the
travel rule which says
that when you've got coins on one
exchange and you transfer them over to
another exchange
the first exchange has to also transmit
the kyc
data so know your customers so your
street address passport picture
and so on to the other exchange um
that looks like it's a law that will
come on an international basis
and that also means that if you want to
transfer those coins
out of the exchange onto your private
wallet this exchange has to do kyc
on your private wallet so you have to
prove that that private wallet is really
yours
how are they going to do that don't know
yet but it looks like that's going to
happen
it's a law that might happen in the u.s
and if it's happening here in the us it
will happen everywhere
so my recommendation at this stage is
take your coins and get them off the
exchange asap into your hardware wallet
or any other wallet that you have
because i don't know when this law might
or
come into into place the other thing
is coming um to trading so let's talk
about a little bit about trading
and i'm sure you have seen this here uh
like coin market cup or coin gecko and
you click on
on bitcoin here in this case and then
you've got the 30-day
chart and then you've got a lot of
people doing an analysis on those charts
yeah they they pull out the candles and
then they say this is a bull flag
or head and shoulders or inverse i don't
know what
and there are two camps the first camp
says
this can't be true i mean that might be
true on the large caps like
apple uh real stocks but in
cryptocurrencies they do anyway what
they want
and it's an international thing so it's
not linked to a country like
like let's say apple shares this uh
cryptocurrency is linked to
many countries so why should a
trend be visible
in the chart the other one is saying
hold on
that might be right for ex for stocks
like here this is the apple stock where
you can do an analysis
and more or less fairly accurately not
accurately but you can't predict
which trend the the share is going um
and also a little bit in regards to
cryptos because all those
traders that are coming into our area um
they're coming from the traditional
market they're accustomed to these chart
analysis
and therefore they will also apply them
here so if they apply them here
that means that they will be somehow
applicable to what we're doing too
but there's another thing that is really
interesting
in regards to um to
trading and that's uh unchained data
so in other words data that is coming
from the exchange
so not from um or from the blockchain
itself so not from the trading part
that is visible that you've seen on
coingecko or market cap
is data that is linked to the blockchain
like
what are the miners currently doing
who's transferring data over to an
exchange
and so on and so there's a fantastic
website which is called
glass note they are they have got tons
of different charts
and if you go into glass note and then
you click on
uh market indicators then this is what
you will see
and just to show you that there is some
um legitimacy
in regards to those analysis so if we
take you for example
i don't know uh which one do we want to
take a look at them
pure multiple it doesn't matter what
that is but as you can see here
let's um let's take that nut case away
so as you can see here in this chart
every time when there was an all-time
high or a peak
also this orange line went into
the red area so that means in other
words
if you read this chart correctly if an
indicator if this indicator goes into
the pink area here
that you have to start selling or
looking into selling
your coins it might be a risky area if
you keep them
that's not the only one so there are
others that other indicators
like here we've got the net unrealized
profit and loss
again doesn't matter what that means
i've got here free account so it ends up
it ends here in january 2020
but an annual account only costs 20 a
year so it's not a big deal
but you can see here again when there
was an all-time high
uh the indicator this uh colored curve
went into blue
uh all-time high blue autumn high blue
so it's an interesting indicator i would
say and here also
all time low red or time low red
yeah so if this thing goes into red
means go and buy and if you think
i mean it's not financial advice of
course but if you you can more or less
have these indicators to really see what
the trend is
and where the ship is sailing to i find
it really highly interesting and let's
see
where that will end up to because this
is just
young industry and a lot of things can
happen but i just want to make you make
you aware of
these indicators that are on that are
representing unchained data
anyway that's it from me i hope you
liked it i hope you enjoyed it i hope
you learned something
as always i'd like to ask you for a
thumbs up
because it helps us in becoming known in
the market
and as always i'm looking forward to see
you next week again
and thank you very much for watching bye
bye
thank you robert just a reminder that
we're not providing financial advice
but only sharing what's happening in the
cryptocurrency markets always remember
that the cryptocurrency markets
are ever-changing and always volatile so
only invest what you can afford to lose
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you