- If you're thinking about investing in one of these
Bitcoin trading courses, you have to watch this video!
Because in this video, I am going to explain to you
why I believe that these Bitcoin trading courses
or any cryptocurrency trading course is a scam.
And yes, I know that this video will probably piss off a lot
of people, but I don't care, because I care about you.
So, first of all, why do I believe that this is a scam?
Well, let's take a look at the chart shall we?
So here is the chart of Bitcoin.
As you can see, Bitcoin for the longest time
was just hovering around few hundred dollars
and then it suddenly took off.
Yes, it went as high as $19,000,
close to $20,000, and now pulled back
to $15,000.
Now, let me ask you this: How much of a genius do you
actually have to be to trade this?
All you need to do is buy it and then in
the next few days, it will go up... until it doesn't.
But we'll talk about this here, in just a moment.
So, back to the chart here.
Now, these cryptocurrency trading course providers,
they say "Oh, it's important that you know which one to buy"
Well, let's take a look at another one:
Litecoin. Take a look at this chart.
How much of a genius does it actually take
to trade this cryptocurrency here?
You just buy it and then it goes up.
Now, take a look at Bitcoin, right now,
Bitcoin, here we go, Bitcoin is going down.
So, let's zoom in here a little bit,
so how can you take advantage of this move to the downside?
Well, this is my point. You can't.
You cannot short it.
Well, you might say, but what about these CME Group futures?
They are bitcoin futures, right?
Sure. Let's talk about these futures.
So, right now, in order to buy one Bitcoin contract
of these futures...
Bitcoin futures contract, you need around
$75,000 !!!
$75,000 to trade ONE of these contracts
and yes, then you could short it. Absolutely.
Meaning that you can bet on a falling market here.
However, right now, this is being traded with around
300 contracts a day. That's nothing, there is no volume.
Compare this to the E-mini S&P, that is traded
with 1,000,000 contracts or crude oil with
hundreds or thousands of contracts.
So, now you might wonder, why is it that everybody is
offering one of these Bitcoin trading courses?
When I open my inbox in the morning, I see four or five
emails, "Hey, here is the new mentorship."
"Hey, here is a new trading course."
So, let me let you in a secret, let me tell you exactly
why everybody and his grandmother is right now offering
a Bitcoin or a cryptocurrency trading course.
You see, a few months ago, I believe it was in late October,
there was a group, I believe it was called
the Legacy Group - it doesn't really matter.
It was one of the first Bitcoin trading courses
that were offered.
And while this was being offered, a lot of people bought it.
So, this company sold 23...
23 million dollars...
of cryptocurrency trading courses.
Now, as you can imagine, everybody looks at this and says
"23 million dollars? Oh my gosh!
"If I could only sell 10% of this, I would make
"more than 2 million dollars."
And this is exactly what's going on here, right now.
This is why every marketer and every educator,
"educator", most of them are just marketers anyhow,
this is why they are offering Bitcoin or cryptocurrency
trading courses because they want a piece of this action
and this is what you see going on right now.
So, let me explain to you how to trade Bitcoin or
any cryptocurrency if you want to do this.
It is very, very easy. It is very simple.
It is actually three steps. The first step...
You need to open an account, and in order to do this,
you can simply go to coinbase.com
or any of these vaults or wallets, it doesn't really matter.
This is the largest one in the US.
I have no personal experience with them.
I don't know if you should open with them or not,
it doesn't really matter.
All you need to do is, you need to open an account.
Second, here is what you do.
Second, you buy a cryptocurrency because
that's all you can do.
You cannot short it. All you can do is you buy it.
And then, step number three, that is the important thing,
you "spray and pray."
What does this mean?
Well, it simply means that you buy several of the
cryptocurrencies and hope that one of them has
an explosive move like Bitcoin.
One of them is shooting up and you're making
hundreds of thousands of dollars.
But this is why I call Spray and Pray,
because that's what it is.
Pray that this bubble will not burst because
yes, it is a bubble. Mark my words.
We already see that Bitcoin right now is reclining
from $19,000 down to $15,000.
I won't be surprised if we go down to
$10,000 very shortly here.
Anyhow, so, this is the buy and hope approach.
Has nothing to do with trading and this is why,
I don't know why these courses are even called
"Trading courses." This has nothing to do with trading!
It is "spray and pray."
Now, I visited my accountant the other day,
and when I talked to my accountant, he said
"You know what? I have a client who bought 10 Bitcoins
"when they were at a hundred dollars." And that's fantastic.
You see, he bought 10 Bitcoins, let's write this down.
You like my little flip chart here?
Alright, so, he bought...
10 BTC....
It's very important that you know BTC stands for Bitcoin,
and he bought it at a hundred dollars.
Now, right now, a few days ago, this was worth
$190,000. Fantastic! Great!
So, now what do you do with it?
That's another myth. So, let me tell you.
When they tell you it can't be taxed, what do you think
will happen if $190,000
will show up in your bank account?
Do you think that the IRS might ask
"How did you get the money?" and by the way,
Coinbase, the largest wallet,
or vault, whatever you want to call it here in the US
was recently forced to hand over the contact information
of every single person who is holding more than
$20,000 worth of Bitcoin.
Yeah, so much for tax-free right?
Anyhow, today, as we are recording this,
Bitcoin is down to what? $15,790.
So, right now, this within three days is
only worth $150,000. Okay?
If this is your retirement, if this is your nest egg,
Really? Do you want to see it fluctuate?
How much is this in percent? I don't know, not quite 20%,
but you get the idea, 15%, doesn't really matter.
It's a lot. Anyhow, I digress here.
What I wanted to share with you really if you think about
investing in any of these, bring it up here again,
any of these cryptocurrency :trading courses", think twice.
What are they really gonna teach you? Think about it.
What do you really learn? Look at the chart again.
That you buy and hope that it will go up?
Of course it will go up eventually, right?
I mean, this is what is happening right now because
we are in a bubble. And yes, I'm not saying that
Bitcoin or the cryptocurrencies will go away.
But this will normalize. And think about that.
Who got rich during the Gold Rush?
Those who were digging for gold,
or those who were selling the shovels?
Got the idea?
Those who were selling the shovels,
and this is what we are seeing right now.
This cryptocurrency rush is like the Gold Rush.
And this is where we have a lot of clever marketers
right now, selling shovels. Don't fall for this.
And please, stop asking me if I am offering
any trading courses on cryptocurrencies.
No. I will not offer any trading courses on cryptocurrencies
and now you know why.
If you choose to buy cryptocurrencies, go for it.
Do it with a few thousand dollars that you can
afford to lose and spray and pray.
Buy and hope that it will continue to go up.
Maybe it does, maybe it doesn't.
If it does, good for you. And you know what?
If you made a lot of money during this gold rush right now,
if you got in and bought a few Bitcoins for
$100 and right now it's worth
$150,000, good for you.
Right? But make sure that you cash out.
Because as long as you have them in this vault,
it doesn't mean anything, right?
Only when you cash out, this is when you realize profits.
Anyhow, I know this was a little rant, but I wanted to
get this off my chest because I am so sick and tired
of all these cryptocurrency courses that
hit my inbox right now.
Hope this helps. If you like it, hit like.
If disagree, sure, leave a comment - and I expect a lot
of comments on this. And if you believe that somebody else
needs to hear this message, please share this video.
Let's spread the love here, and the truth.
Alright, hope this helps. I will talk to you soon.