WARNING: The Truth About Bitcoin

the views and opinions expressed in this video are just that opinions this content is for entertainment and informational purposes only and should not be taken as investment financial or other advice aka don’t listen to some random dude on YouTube and then FOMO into something to make money instead consult a professional do your own research always smash that like button and invest at your own risk enjoy okay so with that out of the way we need to talk about what’s been happening lately with Bitcoin without exaggeration in the last 24 hours I’ve received hundreds of comments either asking me to talk about Bitcoin or telling me I need to buy Bitcoin before I miss the train we’re also people just commenting Bitcoin that seems very common for some reason I had no idea why but everyone just seems to comment Bitcoin now before anyone gets triggered and this happens every single time I make a single video on Bitcoin or cryptocurrency people say well I didn’t subscribe for you to make videos and cryptocurrency you’re not a cryptocurrency channel gram you should stay in your own lane and you know what those people are very much right I am NOT a cryptocurrency channel however my main focus on this channel is investing and and that’s what the focus is on and regardless of where you stand in the whole cryptocurrency thing chances are anyone investing really just cares about one thing and that is making money and then using that to go and buy a Lamborghini so that’s what we’re gonna be discussing today not so much the Lamborghini part but more so Bitcoin and then making money because at the time I’m filming this right now Bitcoin has just passed eight thousand dollars which officially puts it in bull market territory and that is something that I think is deserving of a video now some of you may remember the last time I made a video about Bitcoin was back in November of 2018 when Bitcoin at the time was thirty five hundred and it’s really no surprise prior to that the Bitcoin had just a very bad year it hit a high in December of 2017 of nearly twenty thousand dollars and then a mass sell-off ensued causing it to drop significantly so some of that drop was really fueled by I believe just an over exuberance of investors willing to buy in at any possible price they could combined with overseas regulation and government taxation and year-end profit-taking and get ready for it even more sinister than that is price manipulation which artificially inflated Bitcoin way beyond its true value and in the video I made when Bitcoin was at $3500 at the very end I jokingly said I wasn’t going to be making a Bitcoin video for another 7 months and I am officially going back to cryptocurrency retirement for another 7 months but you know what funny enough enough time has gone by it’s pretty much 7 months and here we are so let’s start here what happened and what caused Bitcoin to more than double in price within the last 60 days from 3,500 all the way to over 8,000 and these are my own personal theories with what I think is really going on now my first theory when it comes to this is global turmoil this happens anytime investors are worried about the overall economy or strength of the stock market and for many people this could be a very nerve-wracking time now even though I’m a firm believer in the century-long proven method of the buy and hold strategy and not trying to time the market if one wanted to play devil’s advocate one could argue that right now interest rates are historically low and if we do enter a recession we don’t have much room to lower interest rates much further to then boost the economy and this could be an issue in the future someone can also argue that there’s a lot of uncertainty with tariffs and how this may play out it’s no surprise that the only thing investors really don’t like is uncertainty and it becomes very difficult to price this into the market until it actually happens and finally one can also say that we should see a drop in the stock market prices because they’ve just been going up for way too long and even though some of those arguments might be overblown or more based on paranoia many investors do get antsy and decide to sell and move their investments over to different asset classes and that might include bonds and gold and also Bitcoin so given all of that I do think that there’s a valid argument to say that the worse the economy does and the worse people expect it to do the less they trust it the more they put them in other asset classes including Bitcoin causing the price just to go up now the second theory I have is that bitcoin is slowly gaining more mainstream acceptance no I think one of the unforeseen benefits of having Bitcoin drop in price is that for the first time in a while it was not fluctuating in price ten to twenty percent in a day and it can actually be used for the purposes it was created for which is to be used as a currency like just imagine what would happen if the US dollar traded like Bitcoin and everyone expected this 100 dollar bill to really be worth a thousand dollars in just a few months well first of all if that were the case then everyone would just hoard cash and no one would spend it and that would cause the demand for money like this to skyrocket beyond what is ever reasonable and secondly you would never be able to actually buy anything with this because one day the cost of avocado toast could be ten dollars and then a week later it might be $60 and then a week after that it might be two dollars and you could never have a successful currency like that so now you’re starting to notice a lot more mainstream businesses beginning to use and adopt Bitcoin and this includes companies like Starbucks and Nordstrom’s and Whole Foods and Home Depot and while it’s rumored to really just be an experiment for right now it’s very evident that more and more people and businesses are starting to take it seriously now my third theory when it comes to this is definitely going to be very controversial and I’m sure a lot of people are going to be very upset at my opinion which is really for entertainment purposes only is just this that the price of Bitcoin is being manipulated yet again now again all of this is just my opinion and none of this is fact and all of this is hypothetical but hypothetically if this is happening here is what I think could be going on if you catch my drift all of this I think comes down to two things tether and BitFenix no tether is a type of cryptocurrency that is allegedly backed by the US dollar this means that you can go and buy five dollars worth of tether and you know it’s always going to be worth about five dollars because they go and back it up by buying five dollars worth of US currency now many investors like to use this because means they can keep their money and cryptocurrency they can move it around very easily and most importantly they’re not gonna have to worry about the price of this fluctuating up or down like 10 20 30 % in a day no it’s at this point that we get to gather around the campfire boys and girls and get into the nitty-gritty of this that over the last few years there’s really been some suspicion that there isn’t actually any proof the tether is indeed backed by any real money for example it would be very easy for someone let’s call that someone Bob to go and just hypothetically create his own cryptocurrency like tether and then you can have investors go and buy your cryptocurrency thinking it’s actually backed by real money then what happens is that Bob goes and gets all the real money and in return gives that person the cryptocurrency that they just created and then one day if Bob just wants to go and run off with all of the money and just disappear without a trace Bob can do that because Bob has all of the real money and all the investors get is something that’s backed by nothing now remember I’m not saying that this is the case all of this is purely hypothetical and all of this is just my wild imagination but I’m obviously not the only one who’s thought these thoughts because the New York Attorney General has begun investigating whether or not tethered is actually what they say they are because like I said there is no actual proof that if I go and buy $100 worth of tether that they go and actually back it up with $100 of real US currency now this is the real sort of juicy drama that people should be investigating and paying attention to not all of this social media stuff going on this is what people should be looking into now what makes all of this drama even more juicy is that according to the Attorney General’s filing teather is under the same management control and ownership of one of the largest crypto currency exchanges BitFenix now here’s why all of this is relevant and all of this is very important previously BitFenix ran into banking issues after it was cut off from Wells Fargo and needed money to serve as customer deposits and withdraws so BitFenix went and why 1 billion dollars overseas to a company that was supposed to act as an intermediary between the exchanges and the customers but obviously though you know things happen and things don’t quite go according to plan and Oh 850 million dollars just went missing poof gone vanished that’s that’s interesting yeah I don’t know and obviously BitFenix had no idea that money was just going to go missing when they wired a billion dollars overseas like that and that’s a massive inconvenience so what do they do they try to cover the losses by borrowing money from tether which remember like I had mentioned earlier is under the same control and management and ownership as BitFenix so they basically just lost close to a billion dollars and then just borrow money from themselves to pay back the customers no if this isn’t interesting enough tether originally said that it was backed one-to-one with the US dollar and to show this I will put up a screenshot right here on the screen so that you can read this out loud they say they’re backed one-to-one with the US dollar but given all of the recent suspicions and allegations and government investigations they changed the verbage on their website now it’s may include other assets and receivables from loans made by tether to third parties which may include affiliated entities which wait a second affiliated entities loans could that potentially be venex I don’t know wild guess entertainment purposes only just a hypothesis here I’m thinking out loud hmm this is some food for thought there but now let’s flash forward just a few weeks ago where tether was ordered in court to produce information and documents as well as the injunction as required you know this doesn’t mean that they’re guilty or that they’ve done anything wrong all of this means is that the government says hey we see you’re making these claims now just show us some proof that this is actually true now this has happened a few times before and every single time BitFenix and tethers say we’re telling the truth we have absolutely nothing but you can’t see the proof we shouldn’t have to show you any proof but just take our word for it we’re telling the truth with you guys it’s just you can’t see it we don’t want to show anybody but just believe us but the government does maintain the authority to say yes we will need to see some proof and this is what’s going to be ordered and now just a few days after they’ve been ordered from courts to go and produce documentation of having money they go and come up with this BitFenix confirms initial exchange offering to raise up to 1 billion dollars in tether now that is a very weird coincidence that tether is subpoenaed in court to produce documentation and then magically a few days later raises 1 billion dollars worth of tether and then at the same time Bitcoin spikes 4% within just a few minutes BitFenix and tether were also suspected of price manipulation in the last run up a Bitcoin as well but again all of that is suspected there is no proof everyone is innocent until proven guilty and all of these are just allegations now here’s my own conspiracy theory with what could be happening and again this is just my wild imagination entertainment only if you guys understand that if you wouldn’t mind just hitting the like button so I know that you guys understand just opinion I’m not accusing anyone of doing anything but here is my own theory not based on fact I think one could hypothesize that if tether is not really backed by USD that they could hypothetically just create as much currency as they want to out of thin air then they can go and do that to buy Bitcoin at very pivotal moments that then drive up the price a Bitcoin due to false demand and then they can do all of this anonymously within shell companies and then move the money overseas oops 850 million dollars is gone don’t know where that went but yeah that’s ok we we can print more and I believe until we see a legitimate third party on it on both BitFenix and tethered that this could hypothetically in my own imagining should be correct especially when they raised 1 billion dollars worth of tether at conveniently the same time that bitcoin is going up in price and especially considering that they’ve never produced a third-party government audit I’m just saying the whole thing just doesn’t add up and all even up to you to come up with your own conclusion no anyways I realize that was very long-winded but anyway my fourth theory as to why bitcoin is going up is really just a lot of people pho mowing into it and that means fear of missing out it’s people seeing that the price of bitcoin is going up so they go and buy in so they don’t miss their chance at getting rich but the very act in and of itself causes the price of Bitcoin to go up a little bit further which causes other people to want to go in and buy as well so they don’t miss their chance of getting rich either and then more people go and buy in because they see the prices going up even faster and they think I don’t want to miss out on all of this money this is my chance now I can get rich and that causes the price to go up even higher and then it happens again and again and again and given the price history of Bitcoin we can see some huge swings almost instantaneously in price and all of the other things that I’ve mentioned in this video are really just my own opinion and none of this is fact but the one thing that I do 100% see happening right now with bitcoin is FOMO and when it comes to investing this is never the habit of a successful profitable long-term investor ever do not ever invest in something just because you feel like you’re missing out on profits and now is your chance to strike it big and get rich and well I certainly don’t doubt that the price of this could continually climb higher just because more and more people just pile into this wanting to make a profit this is not the sign of a healthy long term investment people rarely ever get rich by jumping into investments on a whim just because they feel like they don’t want to be left out and now in terms of where I see this going in the future I’ll just end it with this no one knows we could certainly guess and some of those guesses may prove correct but at the end of the day it’s really just taking a shot in the dark if you’re okay putting your money in Bitcoin and you accept the risk that you could potentially lose a lot of money then by all means go for it but never jump in because if FOMO always do your own research and never invest money that you cannot afford to lose so with that said you guys thank you so much for watching if you haven’t already smash that like button make sure to do that and again all of this is just my opinion for entertainment purposes only not legal advice not financial advice none of this is fact this is all just hypothesis in my head and that’s it and make sure to subscribe and also feel free to add me on Instagram I post here pretty much daily so if you want to be a part of it there feel free to add me there thank you again for watching and until next time