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how's it going everybody does this beat the bush today I'm gonna talk about Bitcoin again and I actually don't want to make that many videos about Bitcoin but due to its recent astronomical rise and it just keeps on going up and up I feel like I have to keep on updating just to let people know where I'm at and what I think of all the increases in price since I first recommended people to invest less than 10% of their investable portfolio into Bitcoin the price at that time was 2500 or so and since then it's nearing about 400% game this is not about tuning my own horn mainly because of the nosebleed gains it's actually worrying me more than me saying you know hooray you know go up more and more before I talk more about this don't forget to subscribe to my channel I hit that Bell icon next to that subscribe button so that you get a new notification whenever I upload a brand new video now I've said this before you don't actually need a lot of technical competence in order to invest into Bitcoin you can just go on coinbase com register for a brand new account you can use my referral link down in the video description below or if you use my referral link you get another ten dollars if you buy at least one hundred dollars of Bitcoin now coinbase does charge you a fee whenever you buy or sell they will charge you a minimum of two dollars and ninety nine cents or anything about two hundred and four dollars or less they will charge you two dollars and ninety nine cents so the sweet spot here is if you're gonna buy into it if you buy one hundred dollars it will cost you $2.99 in fees so if you buy two hundred four dollars it'll also cost you two dollars and ninety nine cents in feed now with the referral bonus that would be ten dollars minus the $2.99 you're still gonna gain about seven dollars of free money just for buying two hundred and four dollars worth of Bitcoin after you buy a little bit and get a little bit comfortable with it you can go on to the website G Dax GVA XCOM is owned by coinbase com if you buy and sell on that website and if you're a maker of the market then you do not have to pay a fee at all so you can sort of transfer money instantaneously between coinbase and G Dax and easily buy and sell the transactions is instantaneous between those two websites because it's by the same company now the thing to do is you sign up for that coin based thing it is a referral link so you will be Ben finding this channel if you click on that link and sign up then what you do is buy your two hundred and four dollars of Bitcoin and then if and when you want to sell you can transfer it to G Dax and then sell it there for no fees at all and then you'll get the full price without paying any fees you can then easily instantaneously transfer it back to coinbase and then transfer it back to your bank account as you wish and all of this without any fees now recently it's gone up so much we saw seven thousand dollars passed by eight thousand dollars passed by nine thousand dollar pass by and right now it's about ninety seven hundred dollars and it's you know in a day or two I feel like it's gonna hit ten thousand very very quickly because of this astronomical rise and because there's gonna be a sprinkling of people you know some people that you know is gonna have Bitcoin for example I do and then when I hang out with people you know people are gonna ask me about that or you know I have the urge to be like hey you know if you buy Bitcoin remember I was telling you about it you know a while ago and actually did this and the fear of missing out FOMO is going to kick in people are gonna go oh man it hurts it brings people pain to hear that they could have done something to increase whatever they put in whatever they invest it by 400% you you buy one Bitcoin two thousand five hundred dollars back then and while today it's already ten thousand dollars this is a lot of money and because of this when people hear of this people feel physical pain when they hear this so then they're gonna go oh no you know you know I should have bought it and this this pain it's gonna cause people to you know try to suppress it I guess and then go you know I really should just invest now just in case I won't be in more even more pain later on imagine how people will feel if it hits twenty thousand dollars and then they would go all you know I should have bought it at ten thousand and now it doubled even again so this whole thought of fear of missing out it's really listening to everybody and it's only gonna get worse because you're gonna have more and more people you know talking it up with everyone because whenever the market is doing well kind of like in the dot-com days and peep oh look I made so much money and then they go buy some fancy car they drive it around their neighbors can see them and then they also think oh I should do it too you know so it becomes a self feeding thing it's kind of like a virus it takes a little time to permeate through all of society right now Bitcoin is you know not too well-known it's starting to get there because you know I just saw it on on TV the other day and you know they report on it and some random Joad that never heard a Bitcoin is sitting in their living room and then they heard of this and then they're like oh what is that okay let me go online and figure this out let me go on YouTube and then you find this video and then you go oh okay let me go on and buy some Bitcoin this brings me to this wonderful graph of stages of a bubble now before I talk about if it's a bubble or not I noticed that whenever I talk to people and I say that it is kind of like a bubble some people are very very adamant or they get very defensive even and even in this video I'm sure a lot of people in the comment section are going to be very defensive about this and going to say I'm you know complete idiot for saying that it's a bubble bitcoin is not exactly like a bubble it's nothing like it bitcoin is a currency it's the currency of the future it's here to stay etc etc before you let go of the thinking that it's not a bubble at all think about all the previous history of anything of course you can say it might be different this time but every single time where people say you know it's not a bubble they always have some excuse of saying that this time is different it's always this time is different at the calm days this time is different at the housing bubble this time is different so I should buy right when the house is really really high it's always gonna keep on going up higher here are the stages of a bubble except it's a little bit more pronounced than the cycles of a stock market in the very beginning on the left side you'll see early investors these are the really really early people the ones that we're hearing on the news right now that are millionaires multimillionaires bought it at like few dollars and then they put like everything they have in it these are like the unicorn people they got really really lucky or maybe they see the future in Bitcoin but for any Bitcoin like thing there's always someone else that saw the future in something else that completely failed and no one's reporting on those there they're not gonna have a news article where Oh some guy put all his money in something and he lost all his money and you know you've never really hear articles or news stories about that and that phase of things is in the stealth mode where you know I probably didn't even hear about it at all although I did hear about it many many years ago before I actually invested I did not make the leap to actually buy into it so those stages would be you know kind of like oh you know you just kind of hear in passing and only the very brave or just kind of putting a little bit in and then as there's more and more market adoption it becomes the institutional investors they put more and more money in we are hearing this about now the exchanges are adding it in and then you have some investors that are able to you know buy options or something like that into Bitcoin so it's becoming more and more mainstream so you see as we climb up there's a little sell-off and I believe that sell-off is when we saw it go from seven thousand to about five thousand five hundred as we get to the phase where more and more people are actually buying into it this is a pretty dangerous area because when you see Bitcoin at ten thousand dollars people getting greedy people look at it and go oh wow you know a long time ago is twenty five hundred now it's ten thousand dollars what makes you think that it won't go to forty thousand dollars and other people would just kind of do this on one upmanship in news articles like oh it's going to be forty thousand dollars and then another news article will be like in one year or two years it's going to be 100 thousand dollars and then another one that goes it's gonna be five hundred thousand dollars you know it just keeps on increasing higher and higher so let me just read the rest of the graph here is pretty self-explanatory it's gonna be a bear trap which means it comes down a little bit and some people who are really afraid they see it come down they're like oh forget it I lost a little bit of they sell everything but little did they know that this is just a beginning I think this is just a beginning to because not that many people are invested in it so this is why this is pretty dangerous right now because if you buy in right now I feel like if it crashes and I'm not saying that it will I'm just saying if it does because I don't know it will most certainly go below that $10,000 because I feel like the mean is a lot lower and I have no backing of this because you know it's just my gut feeling there's no way to value how much a bitcoin is DS a so that's what it is the next one is media attention which we already know media has attention of it already you know in normal bloomberg news they always keep on covering Bitcoin these days so a Bitcoin is that whatever a Bitcoin you know every $1000 leap it's gonna go all Bitcoin is ten thousand dollars bitcoins $11,000 $11,000 12050 and 20,000 25,000 the next phase is enthusiasm okay so when people are finally buying into it and everyone is buying into it and people are almost sure that it's going to keep on rising every single day then that's enthusiasm and when you see this then people pile in there's gonna be a lot of greed going on there's gonna be a lot of FOMO happening and people don't want to miss out people see other people being greedy oh I just sold some Bitcoin and then I bought me a Tesla Model 3 then it becomes a delusional face and then it becomes a new pair dim face which is like basically people like oh yeah this is you know the norm bitcoin is the norm it's supposed to be at $35,000 $40,000 you know people are just new paradigm just kind of means they're used to it it should be at that amount and it's generally an accepted valuation of Bitcoin everybody goes oh of course it's $100,000 of course is that much that's how much of Bitcoin is valued at right now then all of a sudden something starts to turn it starts to dip a little bit and people go oh this is just temporary okay people go why don't you just buy on the dip people like to keep on saying that buy on the dip and then you're gonna be in a bowl trap here because when you are very bullish about the Bitcoin it drops a little bit and people go oh wow it dropped like 20 percent now is the time to buy you know everything so if you had like 10 percent of it you know like then you might be tempted to put a lot more in it because you think oh it's just gonna bounce back up so that is the bull trap then it comes back up a little bit because you're gonna have a lot of people that is joining end up into the bull trap they're buying on the dip and it comes back a little bit so this will be called return to the new normal but because the market it's starting to realize that this is an asset bubble there's still a lot of fear going on people are you know just selling left and right a little bit trickle at a time so it's gonna keep on you know trying to drive the price down just based on demand so if there's a lot of people selling of course this asset price is gonna keep on going lower then once it dips a little bit too far let's say ten thousand dollars it dropped all the way down to four thousand dollars that is gonna be the point where people are fearful you put in your life savings ten thousand dollars per Bitcoin and you just decided oh I want to put all my investable assets in it you put 100 thousand dollars in which is your life savings you took everything piled it into Bitcoin and overnight you saw it go from $100,000 to $40,000 this 60k of money just evaporated into thin air then that is the point where you sweat bullets and then you are fearful then you have capitulation where finally okay it reached forty-four thousand dollars per Bitcoin again three thousand dollars and you're like oh wow this is the new reality I lost money it'll take probably two three months to realize this because once you lost it you know you might think oh it might come back up but then you know you have to be in that new reality for quite a while before it sinks in then when it sinks in then you start to accept the reality when it drops significantly let's say it drops down to $1,000 this is where people are just hating Bitcoin people don't want anyone any Bitcoin because they think that there's no future for it that's why there's despair and people are just selling it it's just a very bare market people don't want anything to do with it because so many people lost so much money lost their whole life savings and this is going to happen I feel like this is really really gonna happen and if anything this might just be the next thing that could really bring down our economy if enough people join into it thinking that they're gonna make a quick buck really quickly and more and more people go into it more and more people are going to lose a lot of money this is what's going to make people really poor basically and then all of sudden overnight they're not gonna have any expendable income they're not gonna be able to go out and buy stuff and support the economy it's gonna bring a lot of the economy down basically so this is where despair comes in people are in despair it's like there's no hope oh this is you know everyone lost a lot of money just generally a very bad mood throughout everywhere people you know might not even want to go out as much because they don't have as much money not as much expendable income to go to restaurants and things then after a long period and I think this is gonna take a long time after it hits this despair period probably I don't know six months or more before that price will just slowly trickle back up and you know people are more attuned and may not want to repeat this bubble again they're like oh you know Bitcoin I got so burned from that you know people are not going to jump in and into this asset bubble again so then the new normal is going to be go back to the real mean of what it's supposed to be worth so then right now I feel like and I have no proof of this I feel like the real worst of it could be $2,500 $2,000 $2,500 dollars for the actual meme and you see in this graph it's kind of slowly rising up and many many people do think that bitcoin is kind of getting ahead of itself it looks scary I personally am NOT actually putting more money into it I'm actually extracting money away from it I've already extracted enough to take away my initial buy-in so all that cash that I actually earned with my labor that I put in initially I already took out so I'm not going to lose any money if this ever you know if this bubble ever pops in fact right now I think a good thing to do might be to dollar cost average out of this asset I don't know when it's ever gonna pop if it ever will maybe it will never pop for me I am thinking about selling a portion of it you know maybe even 1/10 of it just small bits of it at a time so that I can reap the benefits of this $9,500 that we may not never ever see again now I think it was Mark Cuban who made a fortune when he had a lot of stock options at a company he had a lot of stock in it and he sees it back at the dot-com days I think where he saw that it was an asset bubble and he started buying put options on his stock so that if it ever drops a lot he would still have the option to sell it at a really high price so that was an insanely smart move and you know that's why he's a billionaire I guess for bitcoins a little bit of a different story because bitcoin is so volatile the option pricing to buy a put-on bitcoin is very very expensive so my take on it is yeah you can buy put options but it's gonna be very expensive to keep it up you can certainly do something like that however for me I don't want to deal with all of that so for me I think instead of buying put options I am actually dollar cost averaging out of it so I sell a little bit at a time I'm not gonna sell 50% maybe I'll sell like 5% 10% or something like that just just you know shave off the cream a little bit and you know I sold a little bit at 7500 and now it's at 10,000 well you know I sold a little bit I'm not too hurt by it but you know I could have made a little bit more but I feel a little bit safer for averaging it things out and also taking out my initial initial principal I hope you enjoy this analysis of Bitcoin I guess we'll find out you can leave a comment late leave some hate comments down below and say I'm really stupid why why do I make financial videos and I talked about you know Bitcoin being an asset bubbles and things like that give me a like on this video tell me what a fool I am in the comment section if you're interested in supporting this channel check out my coinbase referral like down in a bit of description below where like I said before we can get ten dollars and even after the fees you can still pocket $7 of it I also have an audible link down in the video description below where you can get a free audiobook and if you don't like this audiobook you can cancel it before the subscription ends you can still keep this audiobook for free I also have a patreon link over here where I give members perks to just hope with your credit score or help with their finances thanks for watching
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