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ever since we started seeing some crashes in the crypto space speculations as to when the market will reach the genuine bottom have become prevalent opinions are divided with people believing that it is just around the corner and others thinking that it will not happen anytime soon while the opinions keep on coming one thing is certain The Best Is Yet To Come however one question remains unanswered when will Bitcoin truly bottom remath balihabitia and how he thinks that the bottom for Bitcoin has arrived this is nothing new from what we have been seeing recently as there are others who share the same sentiments with chamath but he has some things worth discussing in today's content that we want to share with you if you have no idea who chamat palihapatia is he is the CEO of Social Capital One of the world's leading Venture Capital firms his work has made him one of the most notable billionaires of this generation and he has some interesting input about crypto and how he thinks Bitcoin has finally bottomed his words will be better understood if you hear them from himself so let's check this short clip of him talking about the Bitcoin bottom prediction now is that I think the markets are bottoming and consolid to start nibbling and start getting ready to really rip the money in and I think there's enough signals every day that kind of like tell me at least that on the margin it's time because I think the markets do a reasonably good job of digesting news and then pricing the forward reality right like today's price is really everything we already know and so the real guess is what's about to happen in the future and from my perspective the markets are now starting to stabilize all the irrational behavior is starting to exit the system the party is in the last few hours volumes going down the alcohol is being taken away people are hanging around with a little bit lights are coming on they're like I've been here a little too long and I think that that's a very healthy process for an economy and I think that that's what's happening right now so I'm constructive I'm a little bullish I'll go I'll go out on a limb I think you know we could be three to five percent from the lows but we're more near the lows than the highs the Investments that one makes in this period will probably be the best for many many years to come because they'll have the most asymmetric upside and that was true in 2008 and 9 and 10.
it was true in you know 2002 three and four you I mean you're talking incredible companies just in those two periods think about this atlassian Tesla Uber Google Airbnb Uber Instagram WhatsApp incredible businesses that have created tremendous value do you guys think that we are already seeing Bitcoin bottom today or are we making yet another early assumption that it already has let us know what you think by sharing your thoughts in the comments section below also do check if you have liked this video and you're subscribed to our Channel if you're not now is the time to do it so you will be a part of our growing community in other news you probably have heard of the backlash the SEC has been facing recently and Gary kansler has finally stepped out and gave his statement regarding the recent controversy surrounding SEC so if you're not yet aware of what has happened Kim Kardashian was recently obliged to pay the SEC 1.26 million dollars after failing to disclose the payment tree received after making a promotional post on her Instagram profile marketing the ethereum max tokens together with a direct link to the Project's website the decision made by the SEC was not surprising at all as what the celebrity had failed to do is clear violation of the anti-touting provision of the federal Securities Law it is worth bringing into this conversation that this is not an isolated case so for the SEC to do the opposite might bring them into an even more grueling position than the one they are in right now Kim Kardashian never admitted nor denied having done what she was flagged for but she also did not make any loud protests regarding defying the SEC was asking her to pay additionally she also agreed to not take any promotional projects relative to any crypto asset until 2025.
now you might ask SEC did a good job with finding Kim and calling her out for her violation so what is there to be mad about well the celebrity's net worth currently stands at 1.8 billion dollars so for the SEC to be finding her a measly 1.2 million might be good but it can also be seen through a lens that makes it seem like bigger personalities can easily get away with anything they do in the crypto space given the relatively low amount of repercussions that they are subjected to the cftc in particular is not specially amazed with the recent steps taken by the SEC and it is completely understandable given the fact that they have not shown any notable excellence in what they do it is still a topic of debate whether or not the SEC will be good for the community and if you really want to thrive more in the future we need to have these types of doubts but hey Gary canister has something to say and it may just be what we need we had chairman Ross and Venom from the cftc on with us last week and he made the point that good man yeah the cftc should be regulating all of these things when you start to build up I guess some case law of some examples of people who have agreed to settle with you like this does that make the case more affirm that the SEC would then be the place where these are all regulated look our agency is an agency that oversees this basic bargain when a group of entrepreneurs is raising money from the public The public's anticipating a profit they need disclosure full fair and truthful disclosure and that's the core bargain in our Capital markets you get to take the risk but the person raising money or the persons raising money has to disclose various information to you that seems how our Capital markets work best the SEC is very good at this and that's what we do and the case law is clear on this the law is clear so it seems like Gary's trying to make the sec's decision sound more effective by telling us that their recession was rooted and the organization's core regulation they are all about the full disclosure of information in all aspects and they will not falter an enactment of this lock no matter how big the person who failed to uphold this regulation is moving to our next update Bitcoin is still very much in the game and is cementing its spot in the topmost level of the tier as the Bitcoin lightning Network layered to capacity hits 5000 Bitcoins this is some amazing growth we are seeing in the layer 2 lighting Network as it had just recently hit 4 000 Bitcoin a few months back much of the amazement is circling around the fact that the economy in general has not been healthy for these types of growth to happen but lightning network still managed to exhibit such a behavior if you are a fan of chain link this next one's for you for quite some time now chain link has been preparing for its major switch to a proof of stake allowing users to stake their chain link now if you're either holder educator or Builder you will be glad to know that the Early Access eligibility app for chain links taking is now live you have to be very careful to not fall for any scams surrounding this though especially when all you need to do to get into the app is a signature and not an actual entree transaction if we qualify for the criteria set by chain link for this early access period launching in December you will finally be able to start staking the upgrades keep uncoming for the crypto space and we definitely love to be seeing it firsthand just recently the Prime Minister of Japan has announced that the government's investment in digital transformation will include the metaverse in nfts one of the world's leading countries in terms of technology has finally started making an effort to get into the web 3 services including nfts in the metaverse the Prime Minister had said in his October 3rd speech that their initiative to include nfts in the resolution of challenges in local communities he is also looking into the digitization of national identity cards so it definitely seems like they are now going Full Throttle into the assimilation of web 3 Services into the Japanese community 7 please foreign
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