Bitcoin Future Price Trend, Hyper Inflation Records, Crypto Hearing & Rich Families Buying Bitcoin

hello everybody welcome back for another video hope you're all doing well and that you are all having an incredible day to start things off I thought I'd start something off with some pretty nice news the CEO of blockchain and crypto hedge fund known as Pantera says bitcoins past trend lines indicate the leading cryptocurrency is likely to hit 42,000 dollars this year followed by 356 thousand dollars a couple of years later in the latest episode of the unchained podcast hosted by Laura Shen then Morehead said and I do quote one perspective would be to graph the price of Bitcoin logarithmically take away the crazy be crazy be crazy exponential growth and it's typically a pretty consistent line and there's a few bubbles in 2013 obviously Bitcoin was up 83 times year-to-year and then at the end of 2017 it was also a bubble it deflated so much at at the beginning of this year when we were at the trou of the crypto winter we graphed what it would be like if Bitcoin spent the next 12 months getting back to which trendline and from there out just stayed at that trend and his trend has been growing at 235 percent compound annual growth rate you'll there are very few other things in the world of finance that will get you 235 percent compounded annual growth almost impossible to find everyone at the time he said Bitcoin was 3,000 or 4,000 dollars that put Bitcoin at 42,000 dollars at the end of 2019 which I know sounds crazy but essentially we're half way back there it's right on the trendline and I think it's a good shot that by the end of the year we hit that he said and if you just extrapolate that line out for another year it's 122 thousand dollars per Bitcoin and in one more year after that 350 56 thousand US dollars and those numbers sound crazy but our research piece suggested we wrote on Bitcoin we predicted it would go to 5,000 and when it was a couple hundred bucks everyone thought that was totally nuts but these numbers in two or three years people will go back and look and say oh yeah that makes sense but what's really interesting about that as well as I got into the cryptocurrency space it had to be 2013 yeah it was a flee to that was in 2014 and I remember reading articles from around 2010 maybe the beginning of 2011 and people were like yeah you know Bitcoin just hit five dollars it's definitely a bubble and people other people like having like graphs and charts cuz people were trying to chart at exactly how this would go what's the the most fascinating thing that we've seen from the wider cryptocurrency space and also from Bitcoin in general is that as people have predicted the weather price is going to go it's usually kind of outperform that if that kind of makes any sense a lot of people were even saying that during 2017 the Bitcoin price would probably hit around eight to nine thousand and this is where we you know I'm you know the crazy predictions that this year we could hit one hundred thousand but what ends up happening is when we do actually hit the marks that other people have set it usually is such an insanely high number that other people kind of lose their mind everyone starts throwing as much money into the cryptocurrency space as possible this is why we usually end up usually typically having these situations where it's expected the by the end of the year Bitcoin can hit 42,000 we end up rushing up so much that the next year following we end up having a huge depression some type of a a bear market I think 2018 was one of the most prolonged bear markets that we've had in a very long time so it's very interesting to see that people for years obviously have been trying to figure out exactly what the price is going to go this is why if you even talk about this is if 2020 their research is showing a $122,000 Bitcoin and then 2021 is 356,000 when you get people talking about over the next 10 years this is why this is very important if you are here for the long term to pay attention to exactly where all these trends are going because a lot of these trends also just follow the amount of people who are in the cryptocurrency space now and the you know like small trickles of people slowly getting inside slowly buying up more portions of it in the the reward getting cut in half and this is kind of where we get these normal numbers but this is just the normal trend if the trend goes completely insane or if we have more people getting inside or other things end up launching that we aren't expecting that cause more hype and more energy to get into the cryptocurrency space if we end up having more rich people behind the scenes who are like you know what prices are going up too fast put another half a million inside of that to buy it more it creates an even smaller supply we have the reward getting cut in half the reward getting cut in half next year he's also getting cut in half in 2024 and then 2028 so if price metrics are showing us potentially this this isn't the first time that we've heard numbers like this either there's usually people who are actually a bit more optimistic about the price than even these people are so if by 2021 they're showing a $356,000 bitcoin imagine when bitcoins price gets cut in half in 2024 and then 2028 and then just imagine the it's insane like this is where we get those 10 million dollar Bitcoin prices from and I know a lot of people are rolling their eyes or crossing their arms and they're like that's never gonna happen there was no point in 2013 or even before that when other people were in the cryptocurrency space if you told them that Bitcoin was going to hit twenty thousand dollars they would have a laughed at you they would probably still be laughing and have tears coming down their face anyway continuing on to what this guy had to say Moorhead says in more institutional investors are entering the space but the vast majority have yet to invest which is one of the reasons he remains it's so bullish he said in the early days it was Wall Street or tech professionals investing their own money in our funds so high net worth individuals but very sophisticated about this industry we now have 850 limited partners which is just a crazy amount of LPS in our previous days we managed a billion dollars and maybe 50 different investors and now we have an order of magnitude more than that 50 investors now they have 850 and this is just one company even some of the other stuff that I'm going to be reading through as we go further in the video just it's incredible and I understand why on traditional media outlets why they may not be talking about this I mean there was also another article that I decided not to have in this video because it's it's better for my brain not to have it I was a named minuchin he was in the news yesterday as well talking negatively about Bitcoin he said that he he said he expects that within the next 10 years Bitcoin won't be even in the vocabulary of normal people anymore around the world that it'll simply be once again the US dollar that'll be running the charge the charge of the Bowles it'll be at the forefront of everything that people really care about he said he said it's going to remain the US dollar and there would be nothing stopping the US dollar and people won't even even mentioning the name of Bitcoin insane like I don't know where but to be fair what this usually means to me especially when someone comes out so adamantly against something or they're constantly talking about in the news they probably don't be fooled governments agencies corporations they all have price metrics similar to this they actually hire companies exactly like this to be able to do the research as well for them these people pretty much know exactly where bitcoin is going to go and it could be simply just a ploy for them to try and get other normal people out of the game which is something that we've also spoken about before this was a major topic of discussion during 2018 I'm pretty sure a lot of people who were here definitely remember we were talking about the shaking out of weak hands from the tree it worked if you scare enough people you don't have people to leave but when it was interesting about right now is that they're trying kind of the same exact tactics or even things slightly similar just scaring the heck out of people but people are still buying into the cryptocurrency space especially for people who've been here for a very long time even have it made for a very long time people are realizing where exactly this industry is going like you can't have an overabundance of good news every single day talking about this company launching this company doing this this family doing this this person's getting into this this person invested a billion dollars and thinking okay well crypt is probably gonna die tomorrow that doesn't make a lot of sense especially if you are logical and you're thinking and you see exactly all the money that's kind of floating around in this space for those of you who have not already this is not an advertisement but listen to the Unchained or unn confirmed that's her other podcast by Larson it's very good I mentioned us someone else was talking with me in the comments section she does make sure to note sometimes how aunty certain coins she is but I do like the people who she actually has on the show anyway the point is we have had other metrics like this before there have been a couple of other people who have come out this year and have said that they expected or still expect Bitcoin to hit around fifty thousand dollars this year keeping in mind once again a couple of years ago people thought especially if you look at the old articles I think it was Tom Lee Novogratz you know all the major names who were always in the news as far as like predictions and stuff like that and they were all talking about that Bitcoin was probably going to hit a maximum of seven to eight maybe eight thousand five hundred dollars in 2017 look at where we went I would not be shocked not saying that it's going to happen but I wouldn't be shocked at all if we end up hitting a 100,000 dollar Bitcoin this year having a major pullback during the first couple of months of 2020 and then as we get closer to that a reward getting cut in half kind of shooting back up all over again anyway like I said I like news like this is very fascinating even more so just as a what's the word kind of something to look back on because a lot of these companies have been completely correct on their assessments of where the price was going to go they usually give lower numbers and they probably think that it's going to hit and they usually usually bitcoins price ends up going above and beyond even because bitcoin is only ten years old it becomes a very little difficult to be able to predict price movements typically for like traditional markets we have 20 30 40 50 60 70 80 100 years of price action so we can kind of usually see where trends are going to go how human sentiment is where this is moving so and so on so what happens after this event kind of happens and even for Bitcoin for some reason people have been noting before that bitcoins price movements don't make a lot of sense compared to traditional finance typically especially if we have like a a run-up in price bear markets will tend to last for a year two years it may be a little bit more like very like long down trends until things slowly start going sideways and then ticking back up and we have these like longer movements it takes Bitcoin early on like 1/4 the amount of time to kind of go through all of those trends and this is why we kind of see the prices that we do now and even more so the adoption that we have getting into the cryptocurrency space anyway I find it fascinating and we'll see I mean we'll definitely hear if by the end of this year of Bitcoin hits 43,000 we will definitely hear everyone talking about Pantera and their trendline indications as to her Bitcoin could be going next up Venezuelans traded more boulevards for a Bitcoin than ever before last week but the statistics say more about Fiat too than cryptocurrency data from coin dance which tracks activity trading activity on peer-to-peer exchanges such as local bitcoins packs full and bisque confirmed the seven days to the 20th of July where Venezuela's biggest on record during that period users of local bitcoins alone generated volumes of over fifty seven billion bolivars beating the previous all-time record high of 49 billion which appeared in the previous week here's the actual chart right here for those who can't see it that well I tried to zoom in a little bit more here's the actual chart it's sort of kind of all going crazy what is that that is the 18th of August last year and that was the beginning of this entire massive spike up that we kind of or rather are actually seeing right now as coin Telegraph reported Venezuela's currency continues to suffer from runaway inflation which estimates claim claim has reached ten million percent leading citizens to resort to alternative means of storing value the country's official alternative a state-issued digital currency known as the petro was declared a failure by the United States non profit during this month so here's the actual chart going up right there that's insane to see the amount of people because I'm pretty sure I'm some certain actually that people within Venezuela are restricted from buying crypto currencies in buying Bitcoin I think usage is allowed as long as it goes through government channels and what was the other thing I think mining is also illegal as well there were other documentaries I was watching or like little snippets of news where people were talking about had their faces completely covered and they were talking about yeah I'm still mining it's dangerous but it feeds my family so here's the other thing right here from the FDD it says Venezuela a failure to launch provides lessons for others I assume this has to do completely with the launch of their cryptocurrency which has been a tremendous failure we had news last year that apparently Venezuela was trying to get I believe Russia Iran and one country to actually use their cryptocurrency to be able to buy petrol and stuff like that I assume it didn't work out because their currency is garbage and also here's the other chart right here from statista it says due to Venezuela currently battling hyperinflation the average inflation rate in Venezuela amounted to around four hundred ninety three point six percent in 2017 compared to the previous year after that there are only estimates to pinpoint inflation in the country as Venezuelans economy is collapsing last year I I we had a metric that said the inflation rate was around 1.5 million percent in saying that you know the Year currencies dying you just continue to print more as opposed to just I would go on television and started like scooping it out and just burning a whole bunch of them until you know everyone Hayes you know it's gonna get better I promise but this is it's terrible for the people living in that country I think millions of people have or forcibly in order to feed their families made to migrate to other countries to be able to I think they had a friend who went to go visit in Venezuela he said there people on the street who are selling like hats and baskets like made of their currency like some of the bills are like a million bolivars and stuff like that and you can it's it's it's nothing it's completely insane so it's great that people within the country are finding ways to get Bitcoin and other cryptocurrencies but it has to be absolutely terrible living there right now but um yeah let's move on next up the New York State Department of Financial Services or the NY DFS the Financial Regulator for the state of New York is moving its in-house team supervising cryptocurrency businesses to a new division in a statement on Tuesday Lendl a swell the newly appointed superintendent announced the research and innovation division at the Department of Financial Services will track emerging financial technologies and be responsible for licensing and supervising virtual currencies this will include licensing approvals made under the state's bit license and regulatory regime that governs firms firms buying and selling or issuing cryptocurrencies to consumers in the state the agency affirmed in a follow-up request for comment this division will oversee the virtual currency licensing process and will encourage development in the area less Wells predecessor Mariotti Volo opposed regulatory experimentation for non banking financial firms when leading the agency the making this research and innovation division as a reprieve from the regulator's formerly heavy hand so what this pretty much comes down to without reading much further and talking about their quotes and stuff like that it appears for those of you who remember especially if you've been in New York who definitely remember there is something called a bit license and it pretty much if you want to do anything within crypto currencies within the state of New York you need to get a bit license part of the issue is that it takes forever to get one there certain companies who I think applied five years ago and they just got it it does not take that long to issue paperwork so this seems to be something hopefully where they're trying to have a division completely for cryptocurrency startups crypto exchanges people looking to launch cryptocurrency anything within the state of New York that they'll be able to simply go to them and hopefully this would be streamlined in a more quicker way like I said it does not take years to be able to do so we also had news last year that I think 20 or 30 companies had applied for a bit license and I think six or seven were actually granted a bit license with the other ones still waiting in the wings so kind of hopeful I mean you can't I mean you can't really get much better than that when it comes to New York State and how long things have taken anyway and without really speaking much further on that it's kind of interesting hopefully it actually isn't working out hopefully doesn't take five years it should really take no more than like two months like have a room of five people look through paperwork I'm pretty sure that the paperwork is definitely not eight thousand pages long it's maybe like 80 50 40 25 pages long people have to sign some signatures come into our office at this time done bam please open up shop anyway its move on the Senate Banking Committee will hold a hearing on regulatory frameworks for crypto currencies and blockchain next week the committee said in a press release and it would hold an open session titled examining regulatory frameworks for digital currencies and blockchain on the 30th of July though it is unclear if this would be a fact-finding mission or if any specific pieces of legislation will be discussed circle CEO Jeremy elaire representing the blockchain Association Rebecca Nelson a member of the Congressional Research Service specializing in traditional trade international trade and Finance and meta Varadhan a law professor at the university of california irvine irvine our van our vine School of Law will testify as expert witnesses the hearing will be livestream the Senate Banking Committee has held a few or a number of hearings around the space but the most recent taking place last week focused on Facebook's Libre so yet again another thing that we're gonna have to go through i I don't expect anything completely insane I think bid is trying to find out a large amount of information I was listening to something before and they were talking about I said is very fascinating because you see all these hearings they're happening all around the world usually the ones happening within the Senate or Congress within the United States kind of are the ones that make you know the headline news many people tend to not care about maybe smaller countries who are also having similar discussions but it comes down to the fact that lawmakers are trying to really understand the space you can tell sometimes when they're actually having discussions with the people who are on the panel that they really probably don't know where they're trying to make sure that they have specific information as to exactly how things are going to work because they have a general understanding of what crypto currencies are they are like the maybe level one out of like ten levels and they're trying to really understand the level of regulation that they should place on the industry so that they can maintain some sort of control but once again the best part for all of us is the longer that they wait the more innovation that actually happens behind the scenes in the cryptocurrency space they can't stop Bitcoin they said they cannot stop other decentralized currencies and the main thing that they're going to be able to control from an outside looking in standpoint is going to be crypto currency exchanges crypto startups other coins that are going to be labeled or listed as or coming preemptively before the SEC to list themselves as securities and I mean if nothing else it gives us a window into the the the minds of regulators to see what they think about the space but yeah 30th of July another hearing holding whatever you kind of want to call it I'm pretty sure we'll talk about it as well as should anything significant happen if Steve minuchin is there again I'm pretty sure there'll be a bunch of fireworks anyway let's move on to kind of finish things off Bitcoin payments should be coming to Norway's low-cost airline known as Norwegian air sometime this year after its co-founder set a date for opening their own crypto currency exchange according to the local newspaper Dagens nettings live I said the correct the cujo's family intend to launch trading on their nascent in VX exchange in August that is that's a couple of days away swiftly expanding into neighboring countries the publication says the COO Josas who are already known to have purchased considerable amounts of Bitcoin I'll get back to that in one second will integrate cryptocurrency into Norwegians air Norwegian airs payment options nbx was already public knowledge but the exact date and crypto payment plans represent a renewed commitment to the industry for the family beyond kudos the father of multiple senior executives working in various affiliated corporations is worth approximately four hundred and twelve million euros his son Lars Ola cujo's has invested a reported four hundred thousand euros in Bitcoin as well I'm pretty sure it's a lot more than that the only information that I could find first of all here's the actual article in Norwegian for those who can read it right here you can kind of see the word kudos son millionaire and Bitcoin in crypto Boros which is like a crip we crypto books so it's like a stock exchange type thing like a crypto exchange and here's another article that I found it is dated the 25th of April 2018 that was talking about the actual movement of this family getting into the cryptocurrency space once again this was when countries were coming forward screaming at the top of their lungs that they were going to be banning crypto currencies and everyone should get out it was completely dangerous don't stay here we had one of those richest families in the entire world who announced that they were going to be creating a cryptocurrency company a cryptocurrency exchange and that they their son I assume it's probably all of them were buying up large amounts of Bitcoin very fascinating we have discussions like this all the time a rather I talk about it sometimes I hear about it a lot more behind the scenes if you hmm and then that that's a weird sentence I was gonna say if you have any financial financial um regulator friends what the word I'm looking for friends who like work with rich families I don't know how else to really kind of say that I've been hearing so much news about families buying large amounts of Bitcoin large amounts of cryptocurrency trying to make sure that they hedge their bets in some sort of way just in case it does take off but also a lot of like legacy families what was the other one who we heard about a couple of weeks ago the Rockefellers who also write getting into the cryptocurrency space you know exactly where the cryptocurrency space is going regardless of any country talks about banning and how much it dislike it the nicest way of saying it is regardless of which country you're in rich people run the government's rich people pretty much control everything rich people control politicians so it's fairly certain in my eyes that there's not gonna be any Bitcoin ban in any major rich country especially if you've heard of any really rich family getting into the cryptocurrency space talking about that they're buying cryptocurrency starting a cryptocurrency exchange because I yeah thneed was throw money at people and they go okay well shut up very fascinating and I wonder just how many other families there there are so many rich and wealthy families in the world who are probably buying up huge amounts of cryptocurrencies remember last year as well as prices were going down we had billions of dollars who were buying over-the-counter so one can only assume families around the world are still amassing large amounts of crypto we have normally we have normal everyday families who are throwing a couple of hundred dollars into Bitcoin every single month just imagine the other families who are worth to two point five five million maybe they're putting in a thousand per month imagine the other families were worth 100 million it's it's it's very fascinating have to kind of think a bit further then you are seeing right in front of you there's a lot of money on this planet and there a lot of families who make sure that they even put fractions of their money into the cryptocurrency space or just into anything that has to do with something where they could make a lot more money what was the other thing that we were just talking about completely lost completely lost everything I was trying to say anyway the point is rich people are getting into crypto understand what the space is going crypto is going to be a major thing and without further ado let's move on to kind of finish things off or rather as always a very special thank you to my picture on supporters professor Wally from gun bought University strange radio Central Bank rolled Network master ventures in Thailand to for to to the world triple M&J my Quito kitchen asam M el Azul free adobo krypton beer ship meat Brady Nields El Doug jarred Schneider wise night-owl crypto-jew mohair Maroni Carl Burton off singer/songwriter Mike savage Rai Rai Yasha Harada amy starr sheen jeffrey ramsey clarity Snowden crypto artist coldy 3d Nicholas Werner with one piece one love setsuna Nick Kanaya Richie Rich the third are of dusty Cody vlad the impaler Texas Tom sucks at basketball and Sam skips leg day Jeremy the photographer Jim Gardner minting coins Arthur yaku Nick mundial Avari Anthony Charles and mechanic thank you all an insurmountable amount for your support at the moment for those who are not looking at the screen the crypto currency prices are green for the most part Bitcoin is back above a $10,000 don't know if it's going to hold we're seeing a very weird sideways trend I would not be surprised at all of Bitcoin fell back to around 9600 once again volatility is our friend in the cryptocurrency space yesterday I think the charge as it was being called was being led by litecoin and eos yesterday I think EOS was up was was it was the first coin in the green I think litecoin was up around 10% yesterday somewhere around there is kind of falling a little slight bit at the moment ether is up by six point seven 1% anything else significant neo is up by almost 10 percent cool any other coins crypto chain is down but up but up but up but up quantum is up by 10% quantum hasn't been in the news maybe something behind the scenes actually took place Ravin coin is up and that's just a butit hope you all enjoyed hope you all are having a great day a great morning a great afternoon – great evening wherever you are wherever you might be I do hope it's absolutely fantastic thank you all once again for watching and or listening and yeah I'll talk to you all soon see you

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