I’m done buying bitcoin

Interesting story here.


All right i’m doing my own research reading okay so cool story i’m going to definitely talk about this on my video republicans win the charger clarity ya talked about that a few times look at this we have some socks if you can read this leave me alone i’m watching hallmark movies i’m going to get those for my wife mom of wild things hopefully she is not watching this with each other to say let me zoom up a little bit.

Don’t forget to click that subscribe button to become a member of the dead squad for the month of december we’re giving away a nano ledger s sponsored by nimick make sure you guys like and comment on all of our videos in december to get the maximum number of injuries do they were talking about the overall sentiment of the crypto market right now which is not good and then things that maybe even might make it worse to be talkin about a flash crash from aetherium i’m going to be explained you guys why i’m not buying bitcoin at these levels right now with the market the markets are a drag bitcoin is dropping like a rock hundred seventeen billion dollar market cap as you guys can see here the bitcoin price is at 3680 it was down in the 35 very interesting if you look at the pic quik cash and the eos shorts over here on the right side it’s really weird they have about the exact same trajectory they both been falling like a rock very consistently while some of the other projects have been up in.

Town is very much been all down for the last week so aetherium actually had a crash today on gdax alternative coinbase pro is you guys can see hear it drops that’s a funny picture right there but it dropped to look like a black hole in most and there are people on twitter they were saying when this happened it was only for a few moments they actually had some orders and buy orders that were filled it does really low prices at 1 guys on twitter with tony but he had it filled at $22 we just absolutely insane so good for them for having those orders said that low but i thought it was just kind of like a glitch i guess we don’t really have an exact reason for why it happened so moving on over here to the reddit cryptocurrency subreddit is very interesting all of the top articles right now are all basically related to the sentiment why my wife is a hard worker i don’t understand the pessimist.

Rhett i stop looking at my portfolio even this one crew doing the floors in january i was a millionaire now i’m only worth $30,000 after a after his wife left him and divorced him then the next one is about bitcoin cash cinnamon we got so many of these stories that are about sentiment and it seems like right now this sentiment is what is known as early driving the prices what is what is driving the news on was driving the focus people are just really really really negative and if you flip this to the beginning of light of this year actually still this year it seems like it’s been a hundred years but if you flip out and look at the beginning of this year even when stuff started crashing in january february march we had a huge suckers rally in april all the way through those four months there still was so much positivity despite the market you have to remember that markets are all psychological that is what reading candlesticks is all about is understanding the psychology of a market so we’re finally entering where there’s not that much pause.

Tiffany it all over kryptos of course there are those of us who is a hayward long-term goals but over the short-term it definitely right now seems like the the bears have completely decimated everybody who has been left standing so i found this article talking about the bitcoin price will possibly fall to $1,500 it shows a car driving off a cliff as you can see there and it’s this is really the way that a lot of people are going every time we hit a bottom or is it all three thousands lowest i can go all the sudden now there’s no bears that are saying the prices even lower so people are saying now that it could possibly be 1,500 not if we compare that to bitcoin crashes in the past when it hit $3,500 that was 82% down which is a huge loss making one of the bigger bitcoin crashes however the biggest crash is actually 87% which was basically over mount got it corrected all the way from 1163 down to $152.

If the price went all the way to 1,500 where would that make it rank within the all-time bitcoin crashing well that would make it ranked number one it would be the by far the worst witch will be putting it around 97% down if it went all the way to $1,500 which is almost unfathomable however i don’t think that’s going to happen i don’t think we’re going to go that low if you take the lowest crash the hardest crash bitcoin ever had it was 87% so if you do the math on that basically what that means is 87% would be around $2,500 soap for me personally i’ve been buying all the way down ever since we got to 6 and lower i’ve been buying left and right of course only $5 purchase is everytime a joke but here’s the thing at this point i’m already pretty happy with what i have in the accumulation that i’ve set up i could always one more but i’m pretty happy with what i got so because of that i’ve decided i’m not going to be by.

Any more until it gets in a 2500 to $2,700 range because it just doesn’t make sense right now. i’m happy with what i’ve got then there’s not really an advantage for me to continue buying at these prices when it looks like the price is going to go lower and so for me personally that’s what i’m doing and that’s what i’m waiting on so one reason why we could continue going down further is because hester peirce the bowl of the ietf or the sec commission that is deciding etf says that don’t hold your breath she actually says it could be any day that they approve it it could also be it could also be 20 years before they approve the etf so it’s very concerning that now at first it almost seemed like it was a slam dunk and we’re stranded here more and more news about how that may not actually be possible and i’m going to go ahead and officially predict for the record i didn’t etf is going to get denied and i actually think ultimately that’s going to be a good thing for crypto i think when we are on the way down falling it seemed like it was good it would have been a good pick me.

But now we’re getting really close to a true bottom in my opinion we don’t really need me to if we don’t want institutional money coming in right now that’s part of what cryptocurrency is designed to fight again so i just my opinion i would love to see that it if this does get denied and push towards next year we do have bad coming in as well it’ll be really interesting to see what will happen if that does come out in fact in january and that if you have his truck down in february i think those two things will kind of offset and we may be looking at the middle of next year before we really start going up to speed about the etf it was officially delayed today until february 27th that is the last day that the sec can make determinations on the van eck cboe etf so you guys keep that in mind it was delayed today but this was something we were expecting so it wasn’t really huge then we have this that you have congressmen is working with a bill to exempt ico’s and crew goes from anchor goes from security laws so it’s very interesting because.

Just the other day i had this conversation with him we don’t really know if ico’s are securities or not therefore we don’t even really know the sec has you no jurisdiction over different cryptocurrency i think that is one of the strongest factors that really shows that we’re not ready for ets yet because our own government canyon and sort out what cryptocurrency and bitcoin is so because of that that’s just another reason why i don’t think that the institutional mays going to come as fast as people think or did think it was going to come ohio in wyoming or actually leading the charge when it comes to cryptocurrency in the united states so basically what this guy’s want to do is make an entirely new asset class for cryptocurrency and not really compare it to the things that we had in the past and i think that’s a brilliant idea because it is different than all these other asset classes that’s why they can’t figure out what it is let’s make it its own thing and give it its own laws and then at that point hopefully we’ll be able to you know move freely in the.

Will be able to develop with a set of guidelines so that is all i have for you guys today thank you so much for watching big boy out.

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