is Bitcoin dead and Bitcoin price right now
In this video about what's happening behind the scenes, what traders are doing behind the scenes, and I'll show you what this means. Plus I'm going to explain to you exactly what this chart here is telling us something quite important but what's happening among people out there and what they're thinking about bitcoin. So that's very interesting. I'll talk to you about in just a few moments now. Before I do that, first of all, I want to begin by doing a quick summary of what I've been saying in these videos for the last few months. I say for the last six to 10 months, and this is quite important. So do you pay attention? You see guys, back in September of last year, September 2017 when bitcoin was trading about 3000 or $3,500. So I posted this video and here's what I said in that video, in that video at the time bitcoin had a major drop.
20 Trillion of dollars are coming to a Bitcoin.
Get your peace of a cryptocurrency wealth. Grab some altcoins and small part of a Bitcoin to be sure that future wealth will drive you too.
All right guys, check this out. This is not financial advice. I am not a financial advisor. I am a youtuber. Do not buy a cryptocurrency is just because someone from YouTube said, hey, I liked this. I researched this, I'm investing in this. You should invest in this. Don't do that shit. That's. No, no, no. Do Your own research. Utilize objective thinking and make an informed decision before investing that hard earned money guys. Okay. It's better to be wrong because you made the decision versus being wrong because you listen to someone else just saying so. Alright. So I know there's a huge bloodbath. I didn't do a video yesterday. I got super-duper busy and I'm almost done with certain elements of my mining farm. Um, but there is a bloodbath going on. Everyone's freaking out. I have some answers now. Check this out. It's actually not as far off as we all thought.
We all have been saying market manipulation. I've been saying I'm tired of the Games. I actually put a real strong worded video a couple days ago about how fed up I am with the bullshit. Come to find out, market manipulation actually has played a role in what is going on, but it is actually not being manipulated. Now what is happening is we are seeing the undoing of the manipulation that has already happened and we all kind of suspected this. There's a lot of you guys have commented that my YouTube in the comments section that lists and actually we're not being manipulated now. These are just people freaking out because regulators, you know, there's actually been several people that commented like that. Um, but, and we, for me, if I've always said that, listen, the trillions of dollars are coming this year is different, but it's not going to come until there is some sort of regulation to protect these guys who invest this kind of money and come to find out I wasn't far off either.
Why should Bitcoin grow in price from 6k to 25 k from now on?
We see in the ETF world, smaller niche firms moving first become market makers. Jane Street for instance, is the top three market maker in etfs and Wall Street banks were kind of behind the curve. Do they risk falling behind the curve here with cryptocurrencies and that's why they're there getting into it quickly? A fear of missing out almost. Well, yeah, I mean there's a couple of things. He might, number one, you know, if you take exchanges like coinbase or finance and they have two or three percent market share of crypto trading, their net income is going to be close to a billion dollars this year. Goldman as a firm only made 8 billion in the entire last 12 months. So exchange trading a crypto as it is today in a small market is extremely lucrative and that's why I think banks should get into the business, but here's something that people don't fundamentally understand.
Bitcoin and cryptocurrencies on a Novogratz understanding
No, those of you who know Mike know that this is about the tame version of Mike Novogratz that you're ever going to get. He just came from his daughter's graduation at Princeton, so he dressed up. Um, I was expecting something a little edgier, so I went, I had the edgiest footwear in my closet that I could find. And, and, and look at you, you're a bore. Um, we are going to be talking about crypto. That was a great way of introducing this conversation at some point along the way. I'm going to give you in the audience the opportunity to ask questions of Mike. I hope, uh, I would imagine you've got some burning questions because what we're here to talk about but Mike is here to talk about is cryptocurrencies as an institutional asset. Before we begin, let's turn again to our survey. You have the, a little clicker on your chairs. I would appreciate it if all of you could participate. I've seen a lot of them sitting on the floor, so just pick it up, grab it, and answer this question. Cryptocurrencies will be a bigger than the internet. Be Disruptive, but mainly to traditional banking. See something like digital gold or d, a speculative fad with no intrinsic value whatsoever.
So we'll wait for a moment while those entries come in and the survey says, ah, the sceptics. So Mike, you've got some work to do. We're going to read you that survey after the 30 minutes. So I don't think it's a stretch for me to guess, Mike, that you would have voted for an on that list. You know, I would have been a minus. To be fair. I, I see
this crypto revolution as Internet three point. Oh, uh, I mean the Internet really did change everything about the way we live and I do think in 15 years we'll look back in the blockchain. Maloo changed a ton. I'm, is it better than the Internet? I don't know, but it's going to be pretty darn big.
Smart money buying cheap bitcoin silent
In this video we're going to talk about some very interesting and fascinating information which I'm going to share with you and you're going to learn a lot from this particular video. Let me just say that now. Before we start going into that, I just want to do a quick recap, especially for those of you who are watching this video is for the first time you say, we'd been long on bitcoin.
We'd been bullish and long and bitcoin from about these lows. We've said now for some weeks you can go ahead and watch a previous video is about that, that there's a very strong likelihood. We said that bitcoin would hold these levels and I would start a rally higher. That is exactly what bitcoin has done so far. Now here's an interesting question I want to ask you.
Who Do you think has been on the wrong set of Bitcoin for the last few weeks? Well, the answer might actually shock you. You see, take a look at this.
This is the hot report where the commitment of traders’ report, which comes directly from the CEO of the Chicago Board of exchange, so what you're seeing here is exactly what the big and small traders and financial institutions and hedge funds are doing on bitcoin. What you're seeing is exactly what positions they're taking and how they're committing their money to Bitcoin, and this makes this report very important and I'm going to show you how we interpret this particular report because many people interpreted wrong.
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