well crypto's been under the gun since early november and now some are saying we could
see one of those bitcoin retracements and like those historic ones with the big prior drawdowns
which would mean a whole lot more pain now keep this in mind drawdowns from peaks of 2011 2013 and
2017 we're 80 or more so is this a pivotal moment i think maybe we've got to make a stand here i
want to bring in uh the investing diva ceo kiana daniel in keanu kiana uh bitcoin this week it held
nicely at 33 000. i'm looking at the chart i think 30 000 it's got to hold just purely technical so
how would this time be different uh again in 2017 13 and 11 do you think this is there's enough
institutional buying or something has changed that we don't need to go down 70 or 80 percent
so very good to see you charles and i think bitcoin has historically just repeated
the same pattern or a similar somewhat resembling pattern over and over again i
don't think anything is different than before i think bitcoin's market price and volatility
has been purely psychological and when it drops it drops will panic sell and of course there's
a trigger behind it at the beginning a whale dumping or some institutions and some of the
headlines that have been coming out and people start selling and therefore the the bitcoin prices
start dropping to the psychological levels that we're watching right now 30 000 as you mentioned
is a very very strong psychological level i don't think it has quite bottomed out yet i think we
still have room for further drops before it goes back up but again long term you know my long term
view for bitcoin because of supply and demand has always been bullish if you look at the big picture
i want to talk to you about the democratization of crypto uh there's a report out that says 94 of
buyers are 18 to 40 years old and yet work from professor scott galloway says that 95
of bitcoin is owned by just two percent of accounts so does this sort of take away from the
narrative that this is a way to escape for younger folks to escape the grip of the establishment
sorry the problem with this kind of reports is that it's not taking into consideration
that bitcoin addresses are not the same as uh are not typically just one account like
sometimes this exchange like a big exchange that has like millions and millions of users
has the same address so this analysis that oh only two percent of uh bitcoin holders like
95 percent of bitcoin is held by two percent this is not is misleading it is not the truth
and the fact is that the reason why i personally invest in bitcoin is specifically because i want
to have my freedom as an individual as you know i was born and raised in iran to a jewish family
before the revolution happened in iran my dad was very successful was very rich but what happened
after the government was completely blown out they went and seized all of her bank accounts
or at his assets that were basically regulated by the government that my dad used to trust
and if at the time something like bitcoin existed and my dad had some exposure to that bitcoin once
the government went down he would not have got gone back down to rock bottom so the
reason why i diversify my account with bitcoin is precisely because of that because as an individual
who lives in the land of the free i want to have that freedom you know it's interesting
maybe that's why china is so afraid of it in russia in those kind of countries by the way
speaking of governments right uh i've just read where the white house wants crypto
to make rules about crypto as a as a matter of national security so this government also seems
to be very intimidated and trying any kind of way they can to stop this from becoming a big thing
it kind of looks like and i hate to like put it as like a democrat republican thing because i don't
think it should be but you can see that this is something that yes they cannot manipulate this
is not like the federal reserve they can just go and print more money out of thin air and kind of
have control over the market this is something that is peer-to-peer and that is international
that i can send money to the places that they may not want me to internationally so then again
i mean i'm gonna have you to read between the lines but i don't think this is something like
an attack from china that we have to be worried about this is something that is an individual
choice and i think that you need to have that freedom to choose absolutely it's been too long
canada great seeing you and then fantastic stuff appreciate it thank you for having me