Did JP Morgan Just Buy $650M Bitcoin? | Two Bullish Signals the Bitcoin Bottom Is In! | Bitcoin Simply

**Dante Cook** (0:00)
This one macro chart says the Bitcoin bottom is in.

**Jeff Ross** (0:03)
I'm one of those people who have been saying the four-year cycle is dead.

**Dante Cook** (0:06)
We've got to zoom out. The four-year cycle is over. Bitcoin is no longer a having-driven asset, but a macro asset. And it's not just me who believes it. One of the smartest minds in Bitcoin has returned to the space and has the same opinion. And he also believes that the bottom is in, based on this one indicator. And he's not the only one in the space that believes that the bottom is in and now is an attractive time to buy. Today, we're going to go through his thoughts and through the chart that's been reliable for the Bitcoin bottom for the last 10 years. We've had enough doom and gloom and bearish news. It's time to get bullish. This is Dante Cook with Bitcoin Simply.
Let's go.
The last few weeks have been terrible, but that may be coming to an end. A couple of things to get excited about and to be bullish on. Let me start with two that have nothing to do with Bitcoin. Chick-fil-A is coming out with a honey drizzle chicken and waffle bacon sandwich on August 24th for a limited time. Can I get an amen? And football is back, baby. I know it's just the pre-season, but I don't care. Who wants to see Aaron Donald rip someone's head off this year? I do. All I can think about is football. Literally when I saw a video of this vulture, all I could think about was in my playing days, this is exactly what a DB would look like when he would get a pass breakup in one-on-ones. This is what I remember Brian Dawkins looking like when he came out of the tunnel as an Eagles fan as a kid. I'm dreaming of the perfect day when I'm supposed to get stuff done, when the grass is supposed to get cut, some things are supposed to get done around the house, but they don't because I'm locked into my chair. And this isn't meant to be a political statement, but guys, Marco Rubio is one of us. The greatest show on television today in America is College Game Day. Great show.

**Matt Hogan** (1:47)
Starts around 10 or 11 and that leads you to noon and then the noon game and then there's a 3.3 game and then there's a...

**Dante Cook** (1:53)
So I messed...

**Matt Hogan** (1:54)
And in the idea... Like this is a crazy weekend.

**Dante Cook** (1:56)
It would never happen. So I'm just putting this out there. But you could start at 10 a.m. on Saturday.
You know, run the whole college football day, sleep for a few hours, then you wake up and then you're in the NFL game day.

**Matt Hogan** (2:06)
Then you got the one o'clock game, the four o'clock game, the NBC game that night.

**Dante Cook** (2:10)
That is an incredible weekend, in my opinion, in my view, obviously. All right, seriously, let's get to the meat and potatoes of the episode. Something that's exciting and something to be bullish about is the return of Dr. Jeff Ross, one of the best macro analysts in the space, who not only has a great Bitcoin perspective from his own vantage point, but he also does it because he's managed money for multiple decades. And he believes the Bitcoin bottom is in.

**Jeff Ross** (2:34)
I was reminding myself of where we are and looking at the 200 week moving average, which I think is just a fantastic way to get based in every cycle. And what we're doing right now, the 200 week moving average is usually the point where Bitcoin either bottoms or it's in the region of the bottom. And if you can buy at or near the 200 week moving average, generally one, two and three years later, you're doing really well. In fact, I had some thing that I posted a while back that showed that if you can catch basically the last time it touches the 200 week moving average or buy around that price, in years past, and I'm not saying we're going to have the same kind of cycle like years past, but in years past, one year later, the lowest price it was up about 110% or something from that 200 week moving average. And so I'm not saying that's going to happen this time, but I would say with a pretty good amount of confidence that once we get past this little bear market phase, which I think is nearing an end if we haven't already hit a bottom, I think about 12, 10, 12, 14, 16 months from now, the price is going to be doing much better than it is right now. So you can't go wrong buying a lot of Bitcoin at or near the 200 week moving average. And that's basically exactly where we are. I think today, at least on my trading view chart, where the 200 week moving average price is $63,997. And as we record this, the Bitcoin price is $63,086.