what's going on guys Patrick here bringing you a brand new video today
we've got another killer video for you guys full of information today we're
gonna be talking about the billionaire who thinks crypto currencies will
replace fiat rules can be looking at Nasdaq and the potential launch of
Bitcoin futures as well as tons of other news that went on in the cryptocurrency
space but guys before we can start with that if you want to enter a chance to
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beginner if you don't know how to do technical analysis if you don't have the
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people make up to five hundred to a thousand extra dollars in one single
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and the main goal right now is to accumulate more crypto currency so that
when the bull run does arrive we make even more gains now let's get started
with the news though if you couldn't guess it already the billionaire we're
talking about today is Tim Draper now he is a very big name in the cryptocurrency
space namely for being a Bitcoin Maximus he is a huge believer in Bitcoin and
believes it will rain number one for a long period of time now he has come out
and said this several times he thinks that crypto currencies now he says gonna
consume half of the fiat currency market and eventually will overtake the fiat
currency market which is something that is debated debated less so now because
of the you know the bear market that were in people are losing people are
losing confidence in it but it is something that is talked about it talked
about when you talk to people who are looking at the long term possibilities
of this now Before we jump into talking about this I've asked us a few times but
I want to ask this again to see given the overall market sentiment what most
of you guys think so do you believe in in the future we're gonna say the future
no give no fixed period of time do you believe crypto currencies will
will beat the fiat currency mark will replace the fiat currency
market let me know that in the comments down below do you think it's going to
replace it do you think it's going to become part of anything they're both
gonna be around what do you think is going to happen in the long term let me
know in the comments down below I'd love to see what you guys think now he comes
in and says we are currently at 130 billion in market cap and cryptocurrency
market cap in the fiat market is 86 Chileans so for starters you know a lot
of people would love for this to happen because well on that way up there's
going to be a lot of opportunity for wealth to be created however looking
back at the possibility of this happening now we have talked about the
hype in the use case the reasons Pete the reason people got in for the wrong
reasons technically people got in majority people got in during the end of
2017 versus what is the actual use case of crypto currencies and what people
should delay if they are getting in what they should be getting in for and that
is understanding what so what this is and understanding how it can improve
improve life moving forward now giving people control of their money is great I
think that's fantastic I think though you know the ease the the fast
transactions the low transaction fees that's all things that are in crypto
currencies favor the things that I think are gonna hold crypto currencies back is
number one our people response there are can people take responsibility for
mistakes cuz when you have control of your money you can no longer call a bank
for help if you make a mistake you can no longer have that type of safety net
where you can just pick up the phone and there you go they can help you solve
your problem you are now taking responsibility and you have to therefore
be responsible is that something we think everybody in the world or majority
of the world can do I'm very questionable given the situation of the
world is in right now just you know I don't know I don't wanna say too much
but I do think that is going to be something that holds us back the other
thing is the people who come in the market simply to make feel a lot of
majority of people in cryptocurrency right now are not encrypted currencies
to to be encrypted to hold cryptocurrency they're not buying one
Bitcoin thinking well if I buy a Bitcoin right now and crypto currencies you know
consume the fiat market then what I when I originally paid $1000 4.1 big
I'd maybe be able to buy an iPhone 4.00 one Bitcoin because at that point you
know the valuations higher but it's not directly tied to though that's not what
most people are looking at most people are looking at this is like okay a
Bitcoin for $1000 or I bought Bitcoin for $10,000 I'm gonna cash it out when
it hits a hundred thousand so that they can have more fear so those are two
things that are going to hold the cryptocurrency market back from
overtaking the fiat market now is it possible I do 100% think this is
something that is possible and though we have people out there saying like
Nouriel Roubini who says that bitcoins the mother of all scans which i
completely disagree with and warren buffett saying that bitcoin is an asset
that creates nothing again I don't think he fully understands the point of it I
do I do think there is the possibility of beating out the current fiat market
because of how much better it is overall and I think it has some very strong
selling points we're gonna have to wait and see what happens of course in the
long run no one has a crystal ball no one can predict what's going to happen
but again there are definitely several things holding cryptocurrency back from
doing this and the two things I mentioned are the main two that come to
my mind when I think about it but again there are a lot of bright spots there
are a lot of selling points that I think are going to help cryptocurrency do very
very well moving forward as well now he's stuck by his prediction of $250,000
in 2022 which again is tied to fiat so this surprise where people would be
looking to you know cash out if they bought in at 20,000 maybe they bought in
now at like 4,000 $250,000 a lot of people want to buy their Lamborghini a
lot of people want to buy their Lamborghini in Fiat a lot of people
don't want to buy a Lamborghini in crypto currencies when cryptocurrency
replaced yeah that's not what most people are thinking about but again I'd
love to know what you guys think of this personally like I said I think the
possibility is there the opportunity is there I think eventually getting to that
point makes sense unless something better comes along I think getting to
that point makes sense and so far I'm still a believer that this is a
possibility now moving on I've got a lot of questions about this o KX which is
the second biggest cryptocurrency exchange after finance they have
delisted a number of trading pairs on this not
the first time they did it and we're seeing exchanges use this bear market
use this drop overall to you know clean up things on their side so they're
taking out this in particular was taking out trading pairs with weak liquidity
and low trading volumes in order to make it a better it make it a very better
experience for users which again is something I can understand something I
can support but if you scroll down the list you'll see a very large amount of
you know get some very no notable names on here bread being one of them
bread was nicely otha a lot of people are very excited about dent is another
one that is very very um very much talked about self keys another one that
I've heard a lot of people talk about simple token another one rated network
another one requests network one that I like also seeing that now this is to the
etherium trade price you guys can see what the effective trading pair or pairs
are some of them have big coin to theorem and USD T it's not looking to
get for debt on here and others just have USD T just have BTC so you can
scroll through you know some stratum is another very big name on here overall
there's a lot of cryptocurrency that I don't know but there are a lot of other
ones that you know have some very reputable names and worth some that
people were very very bullish oh no this is the third a batch apparently of D
listings from okay X against something we're probably gonna see a lot of
exchanges to do moving forward probably not the last we see of this if there are
you know if there is weak liquidity I understand the reasons for taking it out
now they're not fully taking it out it's just specific trading pairs so hopefully
that clears a little bit of that up next up Nasdaq is may they might soon launch
Bitcoin futures in 2019 namely I think early 2018 is what most people start or
what people what people reported was it may start start trading in early 2019
again this ties in perfectly with all the other bullish news that's happening
for that it looks like it's gonna happen for Bitcoin and crypto currencies in q1
of 2019 so maybe again all this stuff piling up could be the indication for
the next bull run how we still have people predicting we're going to be in
the bear market for you know a year or two there are a lot of good signs moving
in 4/20 19 and another thing to keep in mind is
that every time you sell every time you sell your crypto currencies chances are
the person buying it is is either it's either financial situations it's a guy
on Wall Street it's one of these guys are probably buying up your
cryptocurrency cuz at these price I do not believe that they are not
accumulating as much as they can via there's a reason why they make money
in investments there's a reason why their success rate now taking
manipulation aside obviously that's a big one there is there are reasons why
they are successful when it comes to investing they know the times to invest
they know the times to sell they know how this stuff works and when everyone
is panic selling you know Warren Buffett says you know you make your the majority
of your money is made in the bear market every time people are selling financial
situations are buying in to make more money so keep in mind every time you
sell some of your cryptocurrency every time you panic sell it's going into a
very wealthy pocket who is accumulating and waiting to become even more wealthy
I do believe this is happening obviously there is no 100% proof of which
financial situation of what they're buying or what it is but I personally do
believe they're doing this as they do also speculate they are they are also
predicting that we are going to see another bull run it's going to be you
know eventually passing the all-time high so therefore being bigger then the
bull run we had previously and they they want to capitalize on making that money
just like everyone else does now the mark cap is at 122 billion with
a 53.3% Bitcoin dominance again overall guys on most timeframes things are not
looking bullish things are bearish on the you know the for our last time I
checked the one day the one week the monthly we're waiting for the month to
end so that we can open up obviously the new candle for the new month that's
definitely something I'm gonna be looking out for as well but overall in
indicators are bears we have the possibility of course of having a little
bit of a bounce up but overall the main direction a midterm at least right now
is still of a bearish Bitcoin now we're going to talk about the Bitcoin supports
in just a little bit I want to share with you guys what the change at the top
the changes are Bitcoin private is up 16% zelicah up 6
a person as well did you bite is up almost 15 percent Raven coin maker nem
Komodo a lot of cryptocurrencies are in the green again more in the red though
so overall we are having a red day technically just because the number of
cryptocurrencies in the red are larger factum is down almost 15%
oh then Bitcoin SV apparently Bitcoin SV has declared an end to the Bitcoin cash
hash wars I don't even know I'm not keeping up with any more guys I can't I
cannot to be bothered to keep up with a hash war anymore they're down a little
under 10 percent after having a very large rally where you know it's had a
large rally I'm not going to comment on the reasons for it because I'm not a
hunter SN sure so I don't want to say anything that is incorrect steam is down
as well cos a lot of people losing faith in iOS down down 7% as well also we saw
a large amount being transferred to finance I don't know if that's been sold
yet or what the status is with that but I did see a notification that a lot of
them a lot of a OS got transferred over golem is one that I am bullish on in the
long term as well it is down so another opportunity basic attention so again
same thing stellar I saw questions about that yes I do I am
bullish on stellar in the long term again in the mid term I think we still
have room to fall for Bitcoin namely the prices I'm looking at and I get a lot of
questions about the supports I'm looking at guys this again would help with
dollar cost average this is where I have again not financial advisor there's no
financial advice just share with you guys what I'm doing so I'm going to
share with you guys where I am buying what levels I am buying Bitcoin at so
that you guys can get an idea so we have a weak support at $3,500 if we do hit
that's not going to take a lot to break it is a weak support at $3,500 that
would be one point where I could buy a little more next up we have very strong
support at $3,000 and that is where a lot of people think we're gonna bottom
out it is a very it's a very big possibility that that is the bottom now
that's gonna be where I pick up a little more Bitcoin and lastly we've seen
people say the one thousand two one thousand three hundred dollar range this
is one I want to touch on because although that does seem scare and a lot
of people would you know lose faith in Bitcoin again if Bitcoin hit one
you know the reason why I would not lose faith in Bitcoin when Bitcoin hits
$1,000 I know a lot of you guys are gonna agree with me on this kind of we
have a lot of very long-term thinkers on here which is why I'm super thankful for
the community we have on this channel guys you guys are the best community out
there by far both the reason I think about this is because people would kill
if they could go back in time to buy Bitcoin at $1,000 why would you you know
we can't time travel yet that's not happening yet so if we hit $1,000 now
why aren't people celebrating you know people always say I wish I could go back
and buy Bitcoin in 2010 you know but obviously we're I don't think we're
going to 2010 prices but a lot of people would love to buy Bitcoin go back in
time and buy a Bitcoin at $1,000 you'd be up to you know 3.7 X your investment
right now even during the beer market you'd be up a ton a lot of people would
love to buy it at that price but yet if we go down to that price most people
gonna panic again it's a very very strange thing that happens I personally
love trading based on psychology I love that type of stuff there is obviously
technical analysis is one side of trading and investing long-term I think
or like mid to long term psychology plays a very very big role in
understanding how humans work it's a fascinating thing definitely not
something I'm gonna go into detail about right now but it's very very fascinating
about how that happens again people would love to go back to buy it at
$1,000 but they wouldn't love to buy it at $1,000 now I don't I don't get how
that works either way I know I am going to be
paying some of free to drop to $1,000 overall still believing in what it
stands for and what it can do and that's why I will remain bullish on it and why
I manage to remain positive on cryptocurrencies in the long term even
during the bear market guys that's gonna be for this video hopefully you guys did
enjoy if you did don't forget to leave a thumbs up and leave a comment down below
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see you guys tomorrow for another video
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