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bitcoin has um how can i put this been on an absolute tear as of recently people thought that the highs it reached in 2017 was extreme yeah you might want to think again 2021 has put those previous highs to shame and what this has done is it's left a lot of investors as you can imagine saying it's a bubble stay away from bitcoin it's gonna pop rookie investors are over inflating it and there is some truth to that but there's also a whole different side of the hmm let's just say coin that we need to discuss you see a lot of people like to jump on either side of the arguments whether that be the bill side or the crash side but i want to give a bit of nuance in this video something that we don't really see too much in this day and age i'm going to do my best to try to show you the full picture of things first of all if you're investing in bitcoin or even thinking about it you need to know the basics of what it is okay let's think about it more and more transactions are happening online right am i right or am i wrong it's the truth the problem is that each transaction goes through a bank or credit card company who take a cut not only do they take this cut but we put our trust that these big billion dollar finance companies will do everything right will they keep our details safe will they ensure the transaction is accurate will they secure our accounts from hackers or employees in their own company these are the current risks but what if we can just cut out these middlemen with a safe and secure way i bring to you bitcoin where instead of these big bank companies storing the transactions in a ledger all of the users record all of the transactions at the same time thus there's no way to fool the system cut out transaction costs cut out the middlemen cut out relying on these big banks and credit card companies this is the genius behind bitcoin and people aren't dumb people have been paying attention to this technology and they've been flooding the market with their dollars to buy bitcoin what this has done is it's escalated the price of it to dizzying heights leaving the inevitable worry and i'm sure you've seen this as much as i have that bitcoin is in a bubble and it will pop so let's address the arguments behind this idea of the bitcoin bubble popping first the thing you need to realize about bitcoin is there's no insurance policies there's no circuit breakers there's no back stops bitcoins price could just collapse and it's not like oh we've hit 5 000 that's the minimum it can go down and then you'll get a refund no it could go to zero and you couldn't say anything the other thing is that we're in weird economic times right now no one can deny this people who aren't used to free money are getting quite nice amounts of it we can just say that in the forms of stimulus checks now some people do need this to pay for food water electricity etc but for a lot of people this is extra money and they think hmm let's put this into the market let's buy some bitcoin and it pushes prices higher and it's easy to do this easy to buy bitcoin these days at least compared to 3 5 10 years ago you can just use paypal or square or sign up to robinhood for free and you can start buying bitcoin these factors mean you get rookies beginners who are getting free money don't know much about the market and they cannot easily put this money into bitcoin a lot of investors are saying it's because of these reasons why the price is too high and over inflated and these are good arguments every investor needs to at least pay attention to them at least if you're looking for the truth or if you consider yourself a full picture investor no if you're not you know just go view someone else's channel someone who's just wants to sell you something like sorry for that rank guys back to the video another thing that i'd highly recommend is looking at bitcoin's price history what are the rises and falls the previous bubbles how's it taking place now first of all just because price went a certain way in the past it does not mean that it will definitely do the same pattern in the future however it may give us some clues so essentially with bitcoin there's two key bubble slash crashes that we can learn from the first was in 2013. probably not many of you investing in bitcoin back then that's my guess and it seems small in this graph but the percentage points were big so october the 3rd 2013 the price was 114 as you can see then what happened was we saw a huge run-up in terms of the price in just three months it went to a peak of 1152 dollars so that's an increase of around 10 times the amount in three months what happened then after that was it went on a very slow crash and only bottomed two years later in january 2015 the very bottom was 172 dollars it doesn't show you exactly on this graph so that's one bit of history we have to look to the other bit is i'm sure you all know it it was the 2017 bubble slash crash there we saw about a year build up of price and investors flooding into bitcoin the price went from 754 dollars in december 2016 to a year later 16 749 in december 2017. and we all know what happened next bitcoin crashed where it bottomed a year later around that three thousand four thousand dollar mark so history tells us that it could take a year or even more for bitcoin to fully reach its peak in a bubble or just a couple of months no one knows for sure and that's the exciting thing about it and the interesting thing that i did want to point out was that all of the major crashes in the past apart from the 2017 one were just tiny blips of what was to come you know they really were just small speed bumps and this is one of the big arguments for the bitcoin bulls they say don't worry too much about a crash look at things long term and they see the value of bitcoin long term being worth much more than just 20 30 50 100k a coin you know expert investors like kathy wood think that it is possible that bitcoin can surpass the half a million dollar price range per coin but you should be asking why what is your evidence behind these predictions to back this up okay let me try and explain some of these bull theses if we take a look at all of the bitcoins in the world how much is it worth it's currently valued around 600 billion dollars give or take at the time of making this video now that means nothing we have to compare this to something so let's compare it to a company like apple apple has a market cap of 2.2 trillion dollars so if you add all of the bitcoins together it's not even worth one third of the size of apple if we look at gold for example gold's total value that's around 12 trillion dollars 20 times bigger than bitcoin so that just gives you a feel and you know everyone's saying bitcoins overpriced i wouldn't be so quick to make their judgments at least by this metric in the long term they've got more upward trajectory to go you know it's as kathy woods said bitcoin is so much bigger an idea than even apple which in itself is a pretty big idea because think about it for a second no more mass devaluing of money through heavy government printing bitcoin has a set amount of coins in the system 21 million in total available that's the max no more than that can be mined so all of these questions about economists worrying about the fed intervening with the dollar printing trillions of them each year making them worth less every day with bitcoin there is no such problem don't worry about big banks and credit card companies dipping their hands into your transactions bitcoin cuts that out you no longer need trust in these big corporations and governments with your hard earned money it truly is a game changer when it comes to currency and this is why we're starting to see big institutions seeing its value and making investments in it you know square the financial services company invested 50 million in bitcoin grayscale the investment company has 10 billion dollars worth of crypto you know rick rider chief executive of blackrock the world's largest investment funds manager proclaimed cryptocurrency is here to stay so that brings us on to the question should we still buy bitcoin even though it's at high prices is it still a good purchase so here's my thoughts on it guys bitcoin is high risk okay that's obvious but it's also extremely high reward and what i mean by this is okay you could lose everything there's no doubt about that uh bitcoin may not be the cryptocurrency that is fully adopted it may be a different one or crypto may just not fully come to being used in society much that's the risk lose everything however on the other side of the coin is you could make not just double but 10x 20x 30 times your original investments you know looking at what bitcoin is compared to apple and even gold it's not even close to their size and that's why the upside is still huge and it's for these reasons i like to own at least a little bit of bitcoin in my portfolio because i know i know i could lose all of that but i could also double triple 30 times my original investment and that's why i think bitcoin is worthwhile but i never bet anything too large i only bet what i can afford to lose [Music] you