Bitcoin to the housing market bubble of the dot-com bubble and I'm gonna talk
about why those two things are very different than the Bitcoin bubble that's
going on right now so stay tuned what's going on guys Patrick here I wanted to
talk about Bitcoin this morning because I keep seeing the same videos over and
over all online people talking about how Bitcoin is a bubble and how it's going
to pop any single moment I do agree that a Bitcoin has been on an insane run
there's a lot of FOMO there's a lot of emotions right now people trying to buy
Bitcoin they don't care what price they buy that they want to buy it and you can
see this year alone it's up there from the eight hundred dollar area of 7900 as
the high this year so pretty insane move for one year I wanted to make this video
talking about why I think the Bitcoin situation that we're in right now is
much different than the dot-com bubble and the housing crisis bubble and
there's a very very big difference and I don't know why people don't talk about
this but they just talk about how the dot-com bubble went crazy and then it
burst how the housing market went crazy and it burst one of the very very big
differences behind the whole Bitcoin run right now is that the banks are not
involved at least the bigger banks the bigger firms are not involved a Bitcoin
they might be buying it in some different ways or they might be trading
it but they're not involved they're not manipulating the price so this is the
Nasdaq chart showing the dot-com bubble back there in 2000 showing the pullback
if you look here obviously you know this thing ran up huge any company that had a
dot-com name this is when the internet first came out that's what everyone
thought that the internet was going to be the biggest and best thing ever for
any kind of company that had a dot-com piece literally every single company
that went public during the dot-com bubble went up huge some of these
companies went up five hundred seven hundred percent in the first day when
they IPO and a lot of times they end up crashing one of the big differences
between the dot-com bubble and the Bitcoin situation Iran right now is that
the dot-com bubble was orchestrated by the banks and when I say that I'm not a
conspiracy theorist I'm not someone do something here all day long I'm like all
the conspiracies there's so many conspiracies out there this is the fact
that the big banks that the big brokerages all were dipping their hands
in the honeypot and what I mean by that is they were all working with these
companies they were IP owing all of these companies at the time they were
creating very very exaggerated prices exaggerated outlooks basically any
company that added a.com to their name was worth billions overnight and the
banks were a part of that the banks were selling all these IPOs to all other
customers and everybody was trying to get rich but the source of the huge
price increase was really caused by the banks the banks were the leading factor
they were basically pushing these crap companies on all of the people out there
all of the unexpected people telling people buy buy buy anything with a
dot-com buy it cause it's gonna go up huge all these big banks were a part of
the IPOs and they were pushing it and they were pushing it and the people were
buying into it because we're thinking hate my bank is telling me to buy hey my
brokerage is telling me to buy why wouldn't I buy these are trusted
financial people they know what they're talking about but at the end of the day
all the bank's cared about was selling these IPOs and they didn't care what
they had to do they made up evaluations they pumped it they pumped it this was
literally a massive pump and dump caused by the banks and everyone's gonna be
like what is he talking about how how could the banks have done this well the
banks did it is fact the banks were the ones who were behind the dot-com bubble
and like I said I'm not trying to be a conspiracy theorist I'm not but I've
done the research I've seen all the facts and the banks were really the ones
who caused the dot-com bubble the brokerages the big firms we're pushing
out these dot-com IPOs and causing this mass FOMO hysteria of people wanting to
buy dot-com companies so that's the dot-com bubble you can see big huge
crazy move it pulled right back bitcoins already experienced kind of a
crazy move back 2014 you can see Bitcoin made a big move there from the hundred
dollar area up there 2008 pulled back and now we've had a pretty nice base for
the last couple years at that four hundred dollar area kind of balance and
balance announcement but this last year we've really really went crazy and you
can see Bitcoin pretty impressive move here on Bitcoin
one of the things I do like about Bitcoin right now is that we get these
nice pops we get a nice pullback a nice pop get a nice pull
back in an ice-pop ghetto guys pullback so overall you know looking at this
chart it doesn't look like it's just a straight parabolic move there is support
there is people buying these dips these dips happen it gets bought right back up
it goes to all-time highs so you can see there is buying pressure there are
people that want Bitcoin there are supporters a bit courting long term one
of the things I really like about Bitcoin is like I said the banks are not
issuing this the banks are not pumping this up this is not a bank orchestrated
pump-and-dump like the dot-com bubble if you look at
the housing market bubble same idea 2007 we had the housing market inflated once
again why was it inflated so much because the banks making subprime loans
putting out huge loans on houses that they knew had no value giving people
mortgages that they knew didn't have the actual income to pay giving people
adjustable rate mortgages that they knew would balloon over time and cause people
to end up defaulting but all the bank's cared about was lining their pockets
they were doing the credit default swaps they were doing anything and everything
they could to get out before the bubble popped and they were doing it
maliciously and they did it in plain sight so you can see calm bubble housing
market both of these bubbles correlating with the bank's Bitcoin not correlating
with the banks so there's the argument you can see right now literally in the
last four or five years we're back to all-time highs looking at the overall
market so you can see that dot-com bubble the same kind of chart and again
this last four years the markets been going crazy we're at all-time highs
every other day the market goes higher and higher and there's an argument to be
made that were in a bubble right now once again in the stock market with
these tech stocks like Facebook Amazon all these big stocks going up huge in
the last year or so so really the question I ask is is Bitcoin and
indicator showing people's skepticism in the overall market in the overall
financial system so that's really the question we need be asking it's not the
question that is Bitcoin a bubble but really is everything else a bubble in
Bitcoin is reflecting that price that people are safe haven their money people
are buying into Bitcoin obviously people are buying into Bitcoin with the idea
they're gonna get rich that's always gonna be anything but I think there's a
lot of people that are behind Bitcoin that are behind cryptocurrencies that
really do see a future that really do see
issues with the overall financial monetary system so they're thinking hey
I want to safeguard some of my money I want to put this into Bitcoin
see what happens and let this ride but if you look at the overall markets I
would say the stock market right now is in a bubble if you look back at the
housing crisis the dot-com bubble there's a very very clear correlation
here that the bank's organ strated both of these big dumpin pumps and at the end
of the day they came out ahead and everybody else suffered and that's what
it comes down to the banks always come out ahead and the individuals that
invested in these companies back in the dot-com the people that bought houses
with insane interest rates all suffered where with Bitcoin at the end of the day
it really comes down to the overall populace so people want to support
Bitcoin if people see value a Bitcoin it's gonna be there it's not the bank's
selling crappy companies to people it's people around the world all coming
together behind this one type of monetary system and people are really
believing in cryptocurrencies they see the value there so like anything that's
new anything that's unexplored there's huge potential here with Bitcoin I would
equate this to the idea of social media of the Internet
am I gonna tell you that Bitcoin is 100% safe and there's nothing to worry about
no I'm not gonna tell you that there obviously is always gonna be risk with
any kind of investment of any kind of thing that you're doing but I do see the
potential here with Bitcoin but I wanted to make it clear the people out there
who keep making videos about how the dot-com bubble and the housing market
bubble is the same thing as the Bitcoin bubble it's not let's get it straight
let's talk about the real underlying factor here that caused these bubbles in
the past