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[Music] hey guys Tony here hope you're doing well it is Sunday June 2nd hope your weekend is going well the market looks really good for the weekend it seems to be even having weekend pumps which is very interesting and let's take a look at the prices here Bitcoin currently sitting at eight thousand seven hundred and one dollar so definitely up from my last video when we talked on Friday where we talked about you know did we hope the upward trend would continue into the weekend and we get at least maybe hit eighty eight hundred possibly go to nine thousand it looks like we're probably gonna maybe touch eighty eight hundred let's see what happens but certainly there is green across the board it's looking good here in theory I'm at two hundred and sixty eight dollars XRP just over forty four cents so I'm hoping this week we could rally in and once again test that nine thousand dollar price mark again because we saw we tested it on Thursday and had a sharp pull back but we are up since then actually looking really solid you know slow steady growth across the the cup a few days that since that that pullback so looking good here guys and some food for thought right I always tell you guys to have perspective look at the charts look back at the history of Bitcoin and other Kryptonian advice cz by Nance the CEO of Finance tweeted today eight years ago Bitcoin was eight dollars and forty nine cents what's the percentage increase today Wow guys on May 29th 2011 2011 eight dollars I mean I like I wish I had gotten in at this price right I think all of us we would be probably millionaires by now but that's where perspective and patience is so important right it takes time for the price to increase and this is the new asset class and a lot of infrastructure is being built a lot of different financial products and instruments a lot of regulations being put into place so the future is very bright for the market but it's always the question of how patient can you be right many people think that if they don't see like their return in one year they're out right or if they see the market pull back then they get scared and they're like oh my god I'm gonna lose all my money when in fact you don't lose your money until you sell we know that markets move in cycles real estate stocks and precious metals and so forth right this is all facts and but the average Joe is not told about these market principles and they just see the headlines on CNBC oh my gosh Bitcoin has crash is this the end of Bitcoin this is the end of crypto right and then they run scared the other way like oh my god I need to dump and he's dumped my money I need to get my cash back but not realizing that assets right are affected by different news and so forth but do you have the patience to go through the cycles and that is a big big part of investing that a lot of people don't understand and some don't have the stomach for it to be honest but we know we are the pioneers the early adopters in this new asset class and we see we are on the upward trend to rise we see higher highs and higher lows right across the years and we know we are in a bull market now and the Bitcoin having is coming up and we have the big players launching now fidelity TD Ameritrade backed and so forth that is gonna help skyrocket the prices higher than they ever were before so some food for thought guys perspective you know having these the understanding of these market principles is so important now we got some not so good news here with local bitcoins apparently they quietly removed in-person cash trades so as you guys know local bitcoins is the peer-to-peer platform so this be kind of like an exchange a peer-to-peer exchange it allows you to transact without going through any public or it doesn't release public information so let's say I connected with you on local bitcoins and I bought some Bitcoin from you this is not recorded in the you know the public exchange data this amount of money was paid for this amount of Bitcoin it's kind of like OTC over the counter right you don't know what a money was exchanged but you know some Bitcoin was exchanged cuz you can see it on the blockchain so apparently they have removed this in-person cash option and it's probably because they're getting pressure from regulators guys would know your customers anti-money laundering kyc AML so i think that's what's happening but i think people are gonna still find a way to bypass this you're gonna see probably Bitcoin meetups right people just connect with different platforms and say hey we can meet up and just exchange accordingly and that way right exchange maybe cash in person and they send the Bitcoin to the other person right that there's no way to stop that but I think that you know these local bitcoins is probably facing a lot of pressure from regulators now we do have some positive news out of India as you know India has been really dragging their feet with crypto regulations there's been a lot of back-and-forth but finally it seems we have something concrete here Indian crypto regulation is ready official confirms ahead of the g20 summit and we know that IMF is running that g20 summit and they are Pro crypto now India's new finance secretary has confirmed that the report detailing the country's crypto regulation is now ready it will soon be submitted to the finance minister for approval since our June Jaitley opted out of the cabinet responsibilities Prime Minister Narendra Modi has appointed a new finance minister so we will submit it to the finance minister soon of course once the approval is done it will be made public so this is great news and we see countries across the globe guys are now putting in their crypto regulations they're not killing it there they're putting in the guardrails to help it grow and foster the innovation and the growth of this new asset class so this is why patience is so important now speaking of countries across the globe Brazil has established a committee for cryptocurrency regulation now there's still the naysayers and haters right the flood stirs who are like Oh kryptos a fad it's fake Internet money oh there's nothing behind it Oh blah blah blah not understanding some of the fundamentals behind what is happening here with this disruptive technology but the smart money has woken up to it as the big money and the government's now are recognizing what is going on here so the president of the Chamber of Deputies of Brazil has ordered to establish a commission to consider cryptocurrency regulation in the country the Chamber of Deputies of Brazil is a federal legislative body in the lower house of the National Congress of Brazil and consists of representatives of states elected every four years the chamber discusses a and approves proposals for economic and social areas such as education health transport and housing on May 30th the president of the of the chamber of deputies deputy Rodrigo Maya has requested the creation of a special commission to deliver an opinion on bill to 303 / 2 0 1 5 which aims to regulate Bitcoin and other digital currencies in Brazil and we know there are exchanges in Brazil and we see exchanges popping up globally so guys the infrastructure is being built it's amazing to see this happen globally now moving ahead here some interesting news around a OS now as you guys know I don't hold Els in my portfolio I'm still researching it I know some of you have been commenting like you need to have in your portfolio and there's some I have my reservations and I'll share that at a later time but I'm not saying it's a bad project or something like yeah I hope you understand but there's just the connection with tether and BitFenix and some of the folks behind there I'm cautiously watching that so block dot one is launching a social media platform on the EOS blockchain so this is good news videos while Facebook pursues crypto crypto is pursuing social media blocked out one the multi-billion dollar startup that built the EO s io platform is the latest blockchain firm with social media aspirations announced Saturday at a glitzy event in Washington DC the new platform is called voice blocked out one says voice will stand out by not tuning in its users into products here's what the CEO Brendan bloomer said our content our data our attention they are all incredibly valuable things but right now it's the platform not the user that reaps the reward by design they run by auctioning our information to advertisers pop pocketing the profit and flooding our feeds with hidden agendas dictated by highest the highest bidder voice changes that so this is good I actually like the mission the goal of this right we're protecting the user information and not allowing user information to be monetized like Facebook does so voice will run on the EOS blockchain which is also upgrading to a faster version 2.0 by using the public chain everything posted to the tes will be public meal meanwhile the leading social network in the world Facebook announced earlier this year it would move in the opposite direction with CEO Mark Zuckerberg outlining a privacy focused vision for social networking so I look as a good first Yost and I like the idea of voices here what they're trying to do now on to note of Eos coinbase comm recently lists idios and they have added the Crypt another crypto education reward which includes yo so the crypto curious can now get up to ten dollars and he owes tokens by watching videos on coinbase burn so we've seen them do this for other stuff like stellar and so forth so I like that coin maysa doing this educating the public and rewarding them is it's incentivizing them this is going to help spread the education and of course people getting into the market and investing so kudos to them finally XR PL Labs which as you guys know is run by Wiese wind who is the founder of the x RP tip bots and the XR p payment app and he's we had heard about this the mobile banking app and if the name of it is signed I know it's with an X right and they're still working on this but we're seeing more details being put out there about it the founder of XR PL labs the crypto startup funded by ripple as you know there are a spring funded company at about this in my recent video they have they are being funded by XRP they are gonna use XRP obviously and the the founder has confirmed the development of a new mobile banking app that is designed by the company this software is intended to do much more than allow users to send crypto from one wall to the other and then event organized by the Bitteroot community in amsterdam we swim presented the company's flagship mobile app sign if I hope I'm pronouncing it right described as a true mobile banking platform sign will allow users to spend euros dollars Xer P and other cryptos all this without the help of a financial institution were they very simple and clear use user interface so this is awesome and we responded to a tweet here by mr. bxr P here saying we will will release it when it's ready rather than spend a few we would rather spend a few more months and get it right but definitely look looking at a beta release later this year so it's in the works guys and decentralized banking and X it's powered by X R P obviously right so big things are ahead a lot of things being built around x RP whether you hate or like x RP you can't ignore the facts what is happening here and I'm not even gonna go into the details I talked about the spring initiative and all the accompanies that are integrating x RP in their marketplaces and ecosystems you can check out that video on friday but guys this is the news here and let's hope once again Bitcoin didn't hit 8800 today that would be great we're not far off we're at 87 14 now and next week we roll into 9,000 tests and build new support levels and then go work our way up to 10,000 and I believe when Bitcoin hits $10,000 again FOMO is gonna kick in big-time you know your media your CNBC fast money fox business Bitcoin I hit ten thousand dollars blah blah blah blah blah right but that stuff doesn't matter to me I just want to see it continue to grow but the reason why I say that is you as an investor you you need to understand a psychology and what's happening here and all the different moving parts but the good thing is we're here we went in a bear market we bought her the low prices we're holding and I'm holding you know for higher prices but I think I mentioned it on a video before Bitcoin hits between 40 to 50 thousand I'm gonna cash out some of it between 80 to 100 I cash out some of it and likewise higher and some I will never cash out we'll keep a long-term so got to have your cash out plan right you got to be ready we are certainly in a bull market and you never know we can have a parabolic run-up and you guys who those of you who were around in 2017 saw what took place in a matter of weeks it was pretty crazy I couldn't believe it and I made some money in that bull run not as much as I would like it which I had bought more but I did buy a lot more in the bear market not financial advice of course but that's just what I did but features bright guys governments are on board big money getting in new asset class and patience is a key so guys what do you think leave your thoughts and comments below thumbs up if you liked this video please subscribe if you haven't already don't forget to follow me on Facebook and Twitter links in the description thank you guys for your support thank you to my patreon supporters and I'll talk to you [Music] [Music]