Financial Education Sticks Up For Bitcoin After Bitcoin Crash!

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Today I Financial Education actually sticks up for Bitcoin in this situation after the bitcoin crash. This is a rare occurrence where I actually stick up for Bitcoin and crypto. Enjoy!

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I’ve had quite a few people come out and ask me about this Bitcoin situation as for my take on it, and My take is actually going to be surprisingly positive for Bitcoin which is kind of a surprise here. And I’m going to kind of stick up for Bitcoin in this situation if you guys don’t know obviously bitcoins dropped a massive amount over the last few days.

It ran up to about 20,000 in HR as of right now, as of recording this video, at least it’s around 14,500, somewhere around there, it dropped at one point down to almost 10,000 at one point today, so all over the place, you know, the prices and this is all over the news all over financial networks, everything this is being seen. there’s a there’s a few things.

I want to talk about with this whole situation. The first is we got to remember Bitcoin was at what, 7000 a month ago, two months ago, something like that, guys, so even if it was at, let’s say 14,000 it’s still up massively. Okay, and remind you this time last year, Bitcoin was under $1,000 per coin, right?

Bitcoin was under $1,000 per coin at this time last year, we got to remember this, right? And now even at 14,000, let’s say dropped to 10,000 it still be ridiculous, a massive amount. Okay, so that’s something we got to kind of respect in the whole deal that just because it goes up to 20,000 and goes down to 14,000 a lot of the investor base of Bitcoin it doesn’t really care that much.

I mean, obviously, you’d rather have it at 20,014 1000. But in the grand scheme of things, people that have been in the cryptocurrency for quite a while, there’s probably still up massively on this whole position, right? So that’s the first thing you got to understand.

Now some of the brand newer investors that we’re buying at 18,000 19,000 20,000 17,000 some of these prices obviously they’re probably scared especially if they’re newer investors in the in the cryptocurrency right? And you see drop to 10,000 that’s certainly not fun, but that’s a risk you got to be willing to take when you’re getting into something like this right?

So that’s first thing you got to understand this this currency is up massively so far. So you know, take that for what it is and just because it goes down to 14,000 doesn’t mean you know, everything’s over things like that. That brings my second point in this cryptocurrency Bitcoin has dropped you know what seven times probably seven times it’s dropped massively throughout the course of this year where it’s dropped you know.

20% plus in a day and what has happened it’s came back and came back so that’s another point I want to kind of stick up for Bitcoin in the situation is, it has dropped massively many times. However, it’s also come back every single time along the way and ended up making new highs and new highs doesn’t mean it’s guaranteed to do it this time, or it’s just going to keep happening forever.

And every single time for the future. Every time it drops is just a buy on the dip type situation. I’m not saying that Oh, I’m just saying if you look at the history over the past year, at least every single time it’s dipped, it’s still gone up much more overtime. Okay.

Now I do have a little issue with the whole fact that they suspended the entire market and whatnot, but I don’t have a huge gripe with that Okay, now this type of situation when when a trading halt happens right? This happens sometimes with certain stocks Okay.

So say a stock announces earnings sometimes they will also halt trading if it’s super volatile and it’s going to go down massively or something like that sometimes they will halt trading in those type of situations as well. So it’s not like this is just a Bitcoin only situation and Bitcoin should take the blame for this in that the you know.

The market was going down and you know, Coinbase and these other places they basically didn’t allow anybody to buy or sell Bitcoin for a certain amount of time. So I can’t get too far against that and also we got to remember you know, the stock market sometimes they they’ve closed the stock market for a week you know, before you didn’t several days sometimes if a situation if you remember when.

September 11 happened the stock market they closed it for like a week and then when it did finally open obviously the stock market went down massively so it’s not like you can’t close it in indices or whatnot or it’s something so super bad because this does happen in other markets as well.

So I just kind of want to you know, kind of stick up for Bitcoin which is kind of strange in the situation I just see a lot of a lot of interesting stuff going on out there a lot of people proclaiming that this is the the Bitcoin crash in Bitcoin just down from here and I don’t really see it like that maybe it couldn’t be and.

I once again I don’t have a position long or short Bitcoin i’m not i’m not interested in that. I’m just kind of interesting kind of giving people the flip sides of it when I see you know a lot of people coming on bashing it or see too many people just being too positive on it.

I’d like to kind of take the the opposite end here and this one actually got stick up for Bitcoin on because it’s up massively even at 14,000 is still up massively from last month or the month before and in these types of situations where market closes it’s not uncommon guys, this happens in the stock market quite a bit.

And you know, most Bitcoin investors have been in the cryptocurrency for a while they’re still up massively so they’re not panicking. It’s no different than being in video stock or or Apple stock or something when you’ve been in it for a long time. Like if it was to go down a bunch like if my Wynn resorts position that I’m up 100 in whatever 50 something percent on if that went down all send 20% tomorrow, would I care?

Maybe a little bit, but would I care that much? No. Oh gosh darn I’m still up 100 something percent oh gosh feels so bad for me like you know what I mean guys it’s not like the end of the world and whatnot so anyways kind of interesting video that I’m sticking up for Bitcoin I never thought I would see the day but.

I just thought I would in this particular situation not saying go out and buy it or any that stuff or sell it. I just kind of want to give those points there. Hope you guys enjoy this. hope you got some value out of it, the thumbs up if you enjoyed and y’all guys have a great day

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