What's going on good people
This is Mike again with another video today's video is going to be a little
Educational and the reason I'm doing this is because I got a lot of requests a lot of questions from some people asking me
What is going on with the market so I'm gonna share my thoughts with you
And why I think this is all happening so the first thing we got to look at is that Bitcoin is
Considerably down from the last position. They had and the all kind of high was
$19,000 now you look at and you say oh my god. It's gonna die
You know I'm gonna tell you you're wrong Bitcoin is not dying
Okay, stay tuned to the end of this video, so you'll know why but okay?
It wasn't nineteen thousand at one point
Then it did a market correction
And then what happened and Phut happened and flood happened and is still happening so what is the biggest threat to?
Thriving economies Bitcoin. What is the biggest threat to?
controlled
populations
Bitcoin the crypto currency the blockchain all these are a big threat because nobody can control them
It's decentralized right so if you look at the market you see everything is bloody red
except a few obviously for certain reasons so
Everybody's dumping and I'm gonna explain something to you that when Bitcoin dips everything else dips with it
You know bitcoin is the main driver of this blockchain?
So if we look at the global chart this here is the market cap this is
441 billion dollars, but at one point it was at eight hundred and thirty billion so
400 billion dollars got pulled out and I'm gonna explain. Why this is what Bitcoin looks like right now. It's at
$8,900 keeps popping in and out of 9000 still yet, it's very considerably down
It's not a fun chart to look at obviously you see the all-time high and turning downwards
Let's talk about the reasons. Why is the market down number one the US regulators?
Subpoenaed crypto exchange Phenix and feather now you might notice right here
It says January 30th 2018, but this is old news guys
This is two months ago this happened two months ago, but yet the media just
Refreshed the V news and just said it again US regulators subpoena crypto exchange with the next edit
And I'm gonna keep moving on South Korea bans
Anonymous cryptocurrency trades to an average reader South Korea bans crypto currency easy. It's very
Misunderstood I'm gonna move on next Arun
Jaitley has just killed India's cryptocurrency party this was an article by quartz in India and
Arun Jaitley is the Finance Minister of India now remember India has
1.6. Billion people that's a lot of people. Let's just say 10% are involved in cryptocurrency remember there is only
21 million bitcoins to ever exist in the world there will never be more than 21
Million BTC so 10% out of 1.6 billion is 160 million people and there's only
21 million BTC that will ever exist and in circulation there's only 16 point eight
So this should give you an idea how important?
This is and what the strength at homes and how cheap that is at this price?
So we looked at the US regulation we looked at South Korea banning. The cryptocurrency we also looked at
India's Finance Minister banning
Cryptocurrency, but let me just explain. What is going on first India Bitcoin prices dropped as media
Misinterprets government regulation speech look at this the government does not recognize
Cryptocurrency as in legal tender does that mean it's banned
No, but many media people put it on purpose in the news that is banned because they want to destroy
It next the South Korea banned cryptocurrency
South Korea finance minister confirms, no banned cryptocurrency
Another report right here India's not banning cryptocurrency
Stop this, but let's talk about the positives Japan is gonna embrace cryptocurrency. They are embracing it
It says here Japan is going bonkers for cryptocurrency
But the country still loves cash because they don't know about cryptocurrency as much as we do
The next thing that's coming out for Bitcoin is the Lightning Network if you don't know what the Lightning network is this is about to
Change the world of Bitcoin if you think bitcoin is very
Expensive right now you think again once the Lightning Network hits. It's gonna do instant famous. It's gonna be so fast like lightning
it's gonna be very scalable so you can do unlimited or it says here capable of millions to billions of
Transactions per second you know how slow Bitcoin is right now
And how expensive the fees are this is going to change it it's gonna make it the most valuable
Cryptocurrency out there low-cost is gonna cost pennies to transfer
Bitcoin from a place to another and it's gonna have the cross block chains atomic swaps
This here guys is news now
I'm gonna put this link down below if you want to check it out and read about it ok next positive thing is Robin Hood
Remember I did a video on Robin Hood
And I told you how important is going to be for the cryptocurrencies
When I did the video there were like eight hundred thousand people
But they broke the timer there are over 1 million people in line to test the beta
Testing in Robin Hood, this alone is going to bring it point out so what is this all about?
I'm gonna say one word or one acronym that means three different words
Fudd I'm gonna repeat it, it's Fudd
fear uncertainty
and doubt
People bought a Bitcoin thinking that it's a get-rich-quick
Thing to hold and it's an asset when Bitcoin dipped a little bit they start selling
when the news
Started targeting Bitcoin at a very regulated times guys you notice they all come out together
What do you think is going to happen to the to the market?
It's gonna crash cuz everybody is going to sell out of fear, but don't worry
This is not gonna go below much
Even if it does it will be great opportunity for many of us to buy these out coins on sale
so
The message behind this video is Fudd is very destructive
Fudd could lead to the destruction of a project
So try to eliminate it from your vocabulary
try to stay positive and
try to look at the bigger picture of cryptocurrency rather than just narrowing it down to what's happening today in tomorrow I
Make my living out of cryptocurrency. I look at this, and it doesn't faze me
Because I've been in the game for too long and I know exactly what's gonna happen
You know I look at the opportunity when there is red. I don't look at opportunities when it's green. I say forget it
I'm not buying right now because a screen
And you should do the same you should look at the opportunity and the most miserable places in the world
this
Today is one of them
This market is one of them, so this is your opportunity to buy if you wanted to go into cryptocurrency
Just listen to me and know that fund will lead to a lot of destruction so try to avoid it always stay positive
Guys I am NOT a financial adviser. I don't tell you what to do. I'm just sharing my thoughts with you
I appreciate you guys listening to me. Thank you so much for watching
until next time stay safe
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