The Bullish Case for Bitcoin: Reasons to Hold On

The Bullish Case for Bitcoin: Reasons to Hold On

The Bullish Case for Bitcoin: Reasons to Hold On — with David Moadel welcome to looking at the markets with
David Modell today I'm going to make the bullish case for Bitcoin I'm not telling
you to do anything I'm not telling you to go out and buy and I'm not telling
you to hold on to it if you already have it I just wanted to make the bullish
case the case that I believe personally for me at least that bitcoin is gonna be
alright first of all it's a new new ish
technology it doesn't have the history that lets say gold and silver have or
even the S&P 500 something like that it's about a decade old so a new
technology is going to have some speed bumps got to be some bumps in the road
that's normal you've got to expect that that doesn't mean that bitcoin is going
to go to zero just because it has some volatility to it doesn't mean that it's
like the tulips or like beanie babies or something like that alright so so that's
my first point and let that kind of comes to my second point which is we've
had crashes before okay right here we have a visual representation from how
much dotnet wanted to give them credit and this graphic shows all of the
horrific Bitcoin crashes that have happened before and of at least 30
percent or more and it's happened 12 times and so right now we're in the
middle of the 12th one okay right now we're in the middle of this one alright
and we don't know how far down it's gonna go
but anyway it's we've been there before been there and done that in fact we've
had even worse here's an 83 percent crash and it came back up and more
here's a in 87 percent crash and it came back up and a lot more so right now if
you invested at a high price recently within within the last couple of years
yeah this crash seems horrific but if you're
willing to pull back the chart a little bit or just look back in history we've
been there done that and we survived it 11 other times all right this one seems
bigger because it's more widely publicized
or maybe you just you know if you're a newer investor in the Bitcoin and this
is your first crash that you're experiencing it might seem more painful
but I assure you these other crashes were quite painful just as much as this
one okay the numbers were lower all right and so you've got bigger numbers
now but a crash from 19,000 something – you know right now around 60 you know
the six thousands is no less painful than you know a crash from 1163 – 152 or
259 245 just because the dollar figures are smaller doesn't mean that the
percentages were any easier to tolerate okay so think of it that way and here's
what Bitcoin has done in the past few months and notice there's stability
there okay I mean this may look like volatility but it's not bouncing in a
range really and and the range is getting smaller and smaller
okay and now you've got some real stability here between 6,000 and 7,000
here so that's a good sign that's healthy so if you were scared off by the
volatility maybe you shouldn't be scared off anymore we've seen some real
stability at least recently so that's an encouraging sign and I'd also like to
show you yes if you pull back the chart this is the long term Bitcoin charts
since the beginning and a lot of people like to compare this to the dot-com
bubble and bust okay so let's go ahead and compare it all right so take a look
at this all right get the imprint in your head and then hey here's the the
Nasdaq all right and yes the dot-com bubble and the burst okay it's
strikingly similar to Bitcoin okay once again Bitcoin the dot-com bubble and
burst and so it's an easy comparison to make okay you want to make that compare
so fine I I don't think they're exactly the
same because Bitcoin technology and the dot-com bubble or you know their
differences between them but we don't have to go into all that for argument's
sake let's say they are the same thing okay
they are both technical technological innovations you know the internet was a
huge technological innovation and so is the blockchain and Bitcoin okay well
then you can argue that hey the Internet is still here in 2018
so it's not like the Nasdaq went to zero it's not like the internet just came and
went it's still here it's everywhere if
you're watching this right now you're probably doing it on the Internet
so you know you can say the same thing about blockchain technology then why
wouldn't that survive just like internet technology did and also if you're going
to make the comparison okay let's see what happened to the Nasdaq after the
dot-com bust let's see what happened well there's the dot-com bubble there's
the bust and if you were patient you gained it back and a lot more you did
quite well now you had to hold on for a while
granted but if your long term in this game my opinion is I don't I don't see
why it won't recover just like the Nasdaq did again and I don't want to
make a prediction because I don't want to tell people what to do but I believe
in blocked blockchain technology okay so if this is where we're at really in
Bitcoin terms then you just got to be perhaps you could just be patient and
and hold out for the long term all right or if you want another analogy if you
want a really striking similarity all right here's gold okay maybe Bitcoin is
more like gold let's go back to Bitcoin okay let's go back here's Bitcoin all
right take a look at that look at the shape of it and then let's go to gold
that's strikingly similar one more time okay Bitcoin look at the shape gold very
similar all right and can you imagine if if gold were still you know less than
$700 announced today boy that would be great right it's in the
twelve hundreds now so obviously gold did quite well there it is and again if
you were patient yeah you had a rough patch there but if you just held on just
held on held on you did quite well it peaked in September of 2011 at around
$1,900 per ounce now it's in the 1200 so it corrected a bit after a move like
that there's gonna be a little bit of retracement that's normal and natural
okay so could this happen Bitcoin could you have a rough patch and then BOOM hey
who knows right all I'm saying is that we've seen this before and there are
strikingly striking similarities to other asset classes like the Nasdaq and
like gold and other precious metals that in the end did quite well they didn't go
away they didn't go anywhere I know it's not a perfect comparison I know that
gold has a much longer history 6,000 years compared to Bitcoin which has a
decade or so of history behind it I get it alright it's not exactly the same I
I'm just saying you don't have to give up hope you can be bullish on Bitcoin
and you don't have to agree with the critics out there alright if you like
this video please give it a thumbs up on YouTube leave a comment if you agree or
if you disagree it's cool I'm good with that and please subscribe to my channel
if you didn't do it already and hit that notification bell on YouTube so you can
receive the latest updates on my financial educational videos alright
thanks a lot keep the faith folks it's gonna be alright I'll talk to you soon

bitcoin bubble

As found on YouTube

Looking to see what kind of mortgage you can get? Click here to see

Leave a reply

Your email address will not be published. Required fields are marked *