Euphoria Drives Bitcoin Price Higher!! | We Are in the Middle of Bull Market BUT BE CAREFUL!!

hey what's up guys as bitcoin increases in 
price more and more former bitcoin haters   turn on bitcoin side in this video we'll take a 
look how the state of euphoria may drive bitcoin   above six figure level then kevin o'leary 
will explain why he is now bitcoin believer   and what might happen to bitcoin when it reaches 1 
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bitcoin continued to recover from that recent dip   as of the time this recording bitcoins over fifty 
thousand dollars fun fact the price is never the   same when i record the video and when i upload 
it i usually record the video five hours before   i upload it just keep that in mind bitcoin's 
market cap is still under 1 trillion dollars   the single btc has to be about 53 000 to see 
that one trillion dollars market cap once again   but the good thing is bitcoin built some positive 
momentum in this recent days and it is positive   on the weak etherium right now is under 1 600 
we still have a long way to go to reach that   2 thousand dollars once again but it might happen 
faster than you think cardano ada is at 1.25 cents   cardano and binance coin are moving head to 
head one may flip another in any given moment   considering the crypto volatility and the delta 
between market caps now let's take a closer look   at the bitcoin price action as i mentioned earlier 
bitcoin is about fifty thousand dollars per coin   just three days ago on sunday bitcoin went 
down as low as forty three thousand dollars   it's nice to see that seven thousand 
dollars bounce to the current price   also a bit confirmed this nice fitted support 
and resistant lines it is possible that btc can   go a bit lower and touch that support line 
but it's also possible for bitcoin to build   that positive momentum and hit that resistance 
line resistance would be at about 60 thousand   dollars it also depends on the time since the 
bitcoin movement is dynamic just recently we had   some interaction between mark cuban and peter 
chief on twitter this is what mark cuban said   let me help peter gold is hype as much as crypto 
do you really need the gold jubilee gold can   make you ring bitcoin ethereum can make you a 
banker allowing friction free exchange of value   beta chief replied congratulations to those 
who bought bitcoin early pumped up the price   and who have been dumping into the hype you 
succeeded in getting wall street to buy into the   mania when i first learned about bitcoin i did not 
think smart investors would be dumb enough to buy   i was wrong is peter chief finally admits 
that he has been wrong for the past   decade well i don't know let me know what do 
you guys think in the comment section below   what i would disagree about the statement that 
peter chief made that he said that congratulations   to those people who have been dumping bitcoin 
in the hype i remember when tesla announced   the bitcoin purchase and bitcoin went from forty 
thousand dollars till forty four thousand dollars   and peter chief tweeted i imagine how many 
people dumping bitcoin into this hype news   well guess what peter smart investors are not 
dumping [ __ ] look at where the price is at today   here is the funny meme oh my god you 
finally gave them the sound money   how's it going god says well some eaters 
think it's a waste of energy that's funny   here is very interesting chart this chart 
represents a long term holder not unrealist profit   loss in this rainbow line this metric is very 
useful to track investor sentiment over the time   for bitcoin price it is divided by few level 
of market sentiment red capitulation usually   at this time you hear stories such as bitcoin is 
that then we have fear which is still negative   sentiment towards bitcoin by the way in those 
two stages this is the best time to buy bitcoin   then we have optimism where some investors become 
more optimistic than believe this is when more and   more investors become optimistic with strong 
convictions and finally we have the latest   stage of them all in this market sentiment 
that is euphoria that name speaks for itself   investors get high in the high prices so right now 
according to this chart we are in euphoria stage   this is when you want to be very careful and 
do not be a victim of euphoric mindset however   let's take a look how big can perform in the past 
during the euphoria stage if foreign stage happens   when the long-term holder not unrealized profit 
loss is in between 0.75 and 1.

Currently this   magic is at 0.8 in the first cycle when this 
magic was 0.8 btc was at around 100 per coin   by the time this metric in the euphoria stage 
reached 0.9 btc price went all the way to 1 000   and that would be 10x in the second cycle in 2017 
the bull market run when this matrix was at 0.8   the btc price was at around 4 thousand dollars 
by the time this metric rose till 0.9 btc price   increased still all the way twenty thousand 
dollars and that would be five x in the first   cycle btc may 10 x when the metric increased from 
0.8 to 0.9 and the second cycle btc increased by   5x when the metric increased from 0.8 to 0.9 if 
in this cycle bitcoin can generate in between 325x   when this metric spikes above 0.9 then bitcoin 
price would stop it between one hundred   fifty thousand and two hundred fifty thousand 
dollars well we will find out soon what happens   now we know that mr wonderful kevin o'leary 
recently allocated three percent of his portfolio   into bitcoin and ethereum let's take a look why 
he did that and what he thinks about bitcoin price   you were not a fan of bitcoin you you know you 
called it a nothing burger a garbage investment   so i called nancy your director of public 
relations and i said is this fake news and   she said no it's true so i was like i need to get 
kevin on and no you know why the change of heart   so when facts change i change and the reason 
that i had never participated in crypto was that   i'm in a highly regulated business i have many 
investments including my chairmanship of oh shares   as you know we issue under securities laws and 
so many other investments i have in fintech   and i don't play in places where the regulator 
hasn't decided what they're going to do and what   changed my mind and i was very specific on it 
was i'm in the etf business and when i saw that   the canadian regulator and the swiss regulator 
and many other regulators that this has happened   just in the last 60 days have opened up to allow a 
etf that holds one asset bitcoin now that's a game   changer there's no question about it that allows 
institutions and individuals alike to allocate   and that's number one on the hit parade that 
really moved me because i have actually owned   crypto since uh 2017 um ethereum and bitcoin but 
not really been able to speak about it because   regulators really frowned on it and as you're 
well aware this is a very controversial issue   then of course in the last 30 days we've 
started to see s p 500 companies including   tesla and others start to allocate onto their 
fx tables let me explain what that means   i own an allocation of other currencies 
so us canadian swiss franc euro   british pound and i do that for a reason i 
want diversity in the actual fiat currency   i own and also at any one time one currency is 
doing better vis-a-vis the other the concern   i have right now in the u.s market is a 1.9 
trillion dollar basically free money helicopter   out of the sky into the economy many people 
are worried about that you've seen the 10-year   go from basically 90 basis points to 1.4 in a 
very short period of time how do i hedge myself   against that now i can obviously move into more 
swiss franc which has been a rock star a stable   currency but at the same time if the regulator is 
now opening up to allow me to allocate to crypto   why not and that's why i did it and so look i have 
taken a well it's been very interesting two days   many many many interviews like this but as i say 
i'm a pragmatic investor i think a three percent   allocation for me is reasonable and then the whole 
host of questions have to be answered in terms of   how do i do that what do you make of wall street's 
embracement slow embracement of bitcoin michael   saylor starting the trend here uh obviously we 
saw elon musk with tesla who do you think could be   next we're seeing the banks discuss this all 
this all the money center banks why because   their clients want it it's not so much at this 
point a currency it's not easy to actually   do transactions with it what it looks like 
to me right now is it's more of property   it's like buying real estate you either believe 
in it or you don't if you think about the   decision tree and how i'm a good example of 
that okay i decide i want to own bitcoin that's   decision number one then decision number two is 
what percentage of the portfolio should it be   i would suggest one to five i'm going in sort 
of right almost in the middle of three percent   and then how do i maintain that three percent 
how can i mine coins sustainably and i know   for sure it's not blood coin that's the pro 
what i'm working with now and i need you know   three percent in my portfolio as a material amount 
of money and so i have to go find these coin   these coins and and know with certainty uh that 
as i maintain it as the portfolio grows in value   i have to mine coin sustainably and um no 
blood coin and so and by the way when i   talk to the institutions that i i work 
for now when i'm indexing ogi or ousa   they're having the same dialogues at board level 
at sustainability committee levels they're all   having the same discussion more and more and more 
as you're obviously reporting people are starting   to say i'm going to allocate to this as a hedge 
against inflation as a store of value in some   cases as a currency i find it way too volatile to 
be a currency however i am going to go to three   percent kevin last point you're uh joining us 
from the set of shark tank down in miami um has   mark cuban or damon or any of your fellow sharks 
giving you a hard time over your change of heart   you know half of us half of us are believers in 
bitcoin uh mark's come out and said that he will   accept it as payment from av tickets for example 
and there's all kinds of other uh the sharks are   looking at it we're pragmatic investors 
i i you know for me it's about allocating   i'm an indexer so i allocate i say if i believe 
in something i'm going to buy it to a certain   percentage and hold my hold my holdings there my 
sense is that bitcoin is either going to perform   very very well over the next two years or it will 
be you know tested by regulators but i really see   at this point as regulators are opening up in 
countries like canada and switzerland that the   trend is for opening up to this asset class but 
it's like you said either you believe in it or you   don't you have to make that decision it's binary 
yes or no that's the decision you have to make and   i've made the yes decision and i've taken lots 
and lots and lots of flack you're not the only   person that's pointed out what i've said in 
the past unfortunately in a digital world every   comment i've ever made is already a footprint yeah 
exactly but you know you're you're owning it you   know i'm sorry i respect that and i'm sure a lot 
of people do um so talk of a hundred thousand   bitcoin to you doesn't sound so crazy anymore 
no i mean you will it go to 20 000 first will   it go to five thousand first i have no idea i've 
done a lot of work sort of looking at the the the   philosophy of why you would do this with a portion 
of your fiat currency and you really have to get   past the idea that it's just a hype or a promotion 
the mathematics involved here the whole idea   of mining the coin the difference between this 
and proof of state all of these things that are   ethereum versus bitcoin which i also own some of 
the other area of interest to me is i've started   to i formed a team in my organization to look at 
this um i'm interested in actually interest yield   using die using usa you know against the bitcoin 
loan there's all kinds of different strategies   um but the core of holding is going to be i look 
at bitcoin and say to myself that is going to be   the us dollar of cryptos it has established 
itself all around the world it's the largest   market cap it's it's just under a trillion 
dollars it'll always be the leader in my view   it'll take another 100 years to mine the last 
coin long past when i'm going to be around and so   during that period i think it will have 
tremendous volatility and at the point and   when let me give you an example if it became 
let's say 20 trillion of a value okay which   you you would be basically very very stable 
in my view because you would be being held by   people and institutions that are holding it for 
again you know hedge against inflation or just   storage of value we're a long way from that i 
anticipate it's going to be rock and roll but i've   come to peace with the volatility i can deal with 
it now a three percent weighting is not aggressive   um and yet it will capture upside should it 
should it work welcome on the board kevin 100 000   does not seem that crazy anymore i know that 
karen is a huge proponent of diversification   but why in the world would you diversify 
among fiat currencies fifth currency is the   race to the bottom one worse than another i do not 
understand those people who hold millions in fiat   you only need fiat currency to sustain your 
business operation in the short term if you   do not have a business you only need fiat to buy 
food and pay your life expenses that's it overall   i like what he said he also believes that when 
bitcoin reaches 20 trillion dollars the volatility   will drastically decline well 20 trillion dollars 
that would be a one million dollars per btc   let me know what do you guys think about kevin 
o'leary allocating 3 to bitcoin and ethereum leave   your thoughts and comment section below smash 
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