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The upcoming crash of Bitcoin – what happens next?

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The coming crash of Bitcoin? What’s going on in the markets? Hopefully this video will explain exactly why the price of Bitcoin, Ethereum, Dogecoin, and all the other cryptocurrencies is falling. In fact, Bitcoin fell around 20% this week so far and for people that are new to crypto, which is a lot this year, it’s a scary time. Trust me when I say I know how that feels, losing $100,000 in a matter of a few days can be terrifying but hopefully if you watch this video all the way through you’ll get a better understanding of what’s going on.

Reason 1: Elon Musk doing Elon does best – tweeting, here’s what he said “Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company….To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla. However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as bs as fiat money. The key word is “almost”.”

Here’s the thing. There’s plenty of assets Elon could have bought that would have given him arguably the same amount of liquidity – but he didn’t – and he certainly didn’t buy Dogecoin with it so he must not think it’s that BS. So what’s going on? Here’s what I think: if there’s one thing I’ve noticed across the board, and this doesn’t matter if you’re a rich, or smart or if you’re Elon Musk – the longer you invest in Bitcoin, the more it starts to make sense.

Just like Elon said, he’s not an investor, he’s an engineer, which means perhaps he doesn’t understand all the aspects of the technology and game theory that’s behind Bitcoin. I know Elon is probably the smartest person on Earth but it seems like he’s still missing a key element of Bitcoin, maybe he still has questions regarding how Bitcoin will scale, maybe the jury is still out on Bitcoin’s expensive fees as a currency, or the wastefulness of it, whatever his hang up is, he’s still getting comfortable with it and perhaps it hasn’t quite clicked with him yet.

Reason 2: A guy by the name of Peter Schiff quoted Elon on Twitter “even Elon thinks Bitcoin is as BS as Fiat money”. Peter is the chairman of Schiff Gold where he sells people digital gold as investments. So obviously he has an incentive to sell gold, that’s how he makes his money. Elon responded, “An email saying you have gold is not the same as having gold. You might as well have crypto. Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both.”

Elon is right, that’s the whole strength of gold is that it’s tangible, it’s physical, no one can take it away from you or manipulate it if you own the physical asset which let’s face it – most people don’t. Otherwise it’s no different than owning Bitcoin. But then here’s the tweet that really dropped the price – he goes on to say “That said, BTC & ETH do seem high lol”

Reason 3: Janet Yellen criticized Bitcoin saying it’s used for illicit activities, it’s not efficient and people should be careful speculating.

Reason 4: Tether and Bitfinex were banned from trading in NYC. The New York attorney general said that tethers were not fully backed at all times and they were fined $18.5 million dollars. Tether and Bitfinex responded saying that they admit no wrongdoing in anything and that when it boils down to it, it’s just a matter of disclosure and transparency.

My thoughts: this is what Bitcoin does, there’s hype, the price goes up then someone from the government criticizes it, the price falls. However, 30-40% pull backs in the market are healthy and it’s business as usual. If anything, it’s great to see some clarity on Tether which isn’t as bad as investors previously thought.

*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.


cramkiss says:

You have a new follower here! Very well explained and informative that got me thinking. Thanks.

karim lavji says:

One day you're telling me ethereums worth 10k now this

Crypto Code says:

100k bitcoin by July. Buy the dip!

MeowCat42 says:

Damn Janet Yellen is hot

Drunkinllama says:

The incoming crash? Nah, the crash already happened. Its just finishing up

Joseph Craddock says:

The answer is dogecoin 🚀🚀🚀🚀

DRIVECLUB-is-timeless says:

Man, i can't believe it, even you are on the Elon dropped Bitcoin bandwagon, it's not his tweet, that was just a coincindence. BTC dropped of F2 Pool BTC outflow and they dumped all that before Futures expiry on Friday. It's not about Elon and Janet at all. C'mon. Look up Crypto R Us, he explained everything.

R Stapl says:

One word – REGULATION a LOT of threats coming from various governments now. U.K. government threatening large capital gains tax on crypto .

C Dazz says:

we truly dont have free will tho

CamGroves says:

"He's an astronaut Thommy!"

Kyle McCann says:

speaking of is there any chance you know anything about sos ltd. You talked about it in the blockchain video, A short report was released friday at noon tho!

m00nfiction says:

23 years old? Damn I feel old.. 🙁

Jason Song says:

Do you think we hit the support line for Bitcoin? It's down to $47K as of this writing, down from $57k earlier this month. I ask because I am thinking about getting into now – now that it appears to be at the lowest price on this "crashing upwards" trend Andrei so eloquently put it in this video lol.

Ramon Larson says:

Sell all your crypto, I need a better sale

US Home Lending says:

He said engineer!? Which means he can put together the technology to make endless bitcoins

J TheGreat says:

Can’t wait this is the time to buy!

Red Reddy says:

Tired of your fakely concerned looks on thumbnails

Jon Son says:

Do not trust Janet Yellen.
She is crooked.

Max Flight says:

Only down 17% now ….

None Given says:

The micro down trend in current macro bull market has fuck all to do with what Elon Musk is tweeting .

Clown Unchaiined says:

Crypto crashing? Bought more. Elon knows what he is doing, It’s just manipulating at this point. Crypto won’t go anywhere

A Arc says:

Is Tether just used because of first mover advantage? USDC sounds more legit but I don't really know the space too well.

Adrian Perez says:

$60k end of month

Chris Maree says:

Your analysis is partially correct. The main reason for the bitcoin dump is F2pool (mining group) dumping on the market and shorting their dumps. Look at the on chain analysis. Or follow Bitboy's channel. He explains it well, with supporting evidence of course. The reasons you mention aren't the reason for the drop, market manipulation is. I still liked your video. 🙂

NO PiGi says:

YOU get 10K a day from youtube … and have invested so little …. compering to your income

Juil says:

Let's be honest. Janet Yellen orchestrated the dump so that the US government could buy some cheap bitcoin.

Mario Perez says:

Your the Next Elon 😂

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