Let’s discuss the current state of cryptocurrency, what’s at cause, the regulations moving forward, and whether or not this could potentially continue dropping or be the ideal buying opportunity. Enjoy! Add me on Snapchat/Instagram: GPStephan
And as always, I’m primarily a real estate and investing channel and I intend to keep it that way - but I believe much of this ties into investing, wealth building, and investor psychology. So even though I’ll make crypto videos every now and then, especially because I’m invested in it and find it super interesting, it’s not going to be very often unless I feel like there’s something worth mentioning, and today there is.
Let’s first start with one of the more subtle points that many of us can relate to…people are getting impatient and the growth we previously saw was largely unsustainable. As much as we need it, the WORST thing for cryptocurrency from this standpoint is stability. Stability is boring. Stability isn’t exciting. Stability doesn’t get people talking about it. If people aren’t talking about it, it has a hard time attracting new money - and investors get bored. So what do many of them do? Cash out and look for other opportunities. And what caused this…from my perspective, was lack of utility for the price it was formerly trading at.
The next, and probably the most impactful is the legal uncertainty surrounding cryptocurrency lately. In a speculative market like this, the slightest chance of regulation sends many investors into a state of panic. However, the significance this poses is fear - fear that if one market bans or regulates cryptocurrency, it sets a precedent for others to follow.
The failing of Bitconnect and other similar coins. This, by itself, isn’t a cause of the recent price drop but more so a symptom of what’s currently allowed and what we can expect to see more of in an unregulated market - which, to me, doesn’t seem sustainable. This leaves me thinking, how long until government steps in to save us from ourselves?
With the push to regulate these markets comes the requirement for exchanges to verify its users in order to withdraw or move funds, especially in high dollar amounts. It puts many exchanges between a rock and a hard place of operations…again, this isn’t a cause of the recent drop, but a symptom of the current state of the market and the growing pains of legitimizing cryptocurrency. And frankly, I think this is a good sign - this means that cryptocurrency is being taken seriously, it means that the bad apples will be weeded out, and the legitimate coins will have more room to grow.
Lastly, I think we’re seeing the appeal of Bitcoin slowly dwindle as Ethereum takes over from a practicality a day-to-day use standpoint.
So with that said, here’s what this means from my perspective. Even though prices have been depressed, I think this is largely a move in the right direction for cryptocurrency in the LONG TERM. You can’t have shit coins going up 100x in value and millionaires consistently being made overnight. You can’t have people promoting pyramid schemes and profiting without legal repercussions when it fails. You can’t have exchange owners picking up and running away with millions. You can’t have some random people creating their own ICO’s and then cashing out at its peak. And short term investors only in for the quick profit won’t be able to forever turn a profit consistently without losing money at some point.
Realistically, we should care what the prices are a YEAR from now…not what the prices will be like next week. So basically…if the market drops, don’t panic. Let’s not forget that a year ago, Bitcoin was $1000…while past performance doesn’t indicate future results, it does give us perspective to take a step back and realize that in any market, patience is a key takeaway. And just as a reminder, I have no idea what I’m talking about - this is just a total guess on my end - and obviously for entertainment value ONLY 😉
Earn a FREE stock with Robinhood:
https://referral.robinhood.com/grahams106/
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
(Do not send me random questions here - the youtube comments are best. This email is for business or paid real estate coaching inquiries ONLY)
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
And as always, I’m primarily a real estate and investing channel and I intend to keep it that way - but I believe much of this ties into investing, wealth building, and investor psychology. So even though I’ll make crypto videos every now and then, especially because I’m invested in it and find it super interesting, it’s not going to be very often unless I feel like there’s something worth mentioning, and today there is.
Let’s first start with one of the more subtle points that many of us can relate to…people are getting impatient and the growth we previously saw was largely unsustainable. As much as we need it, the WORST thing for cryptocurrency from this standpoint is stability. Stability is boring. Stability isn’t exciting. Stability doesn’t get people talking about it. If people aren’t talking about it, it has a hard time attracting new money - and investors get bored. So what do many of them do? Cash out and look for other opportunities. And what caused this…from my perspective, was lack of utility for the price it was formerly trading at.
The next, and probably the most impactful is the legal uncertainty surrounding cryptocurrency lately. In a speculative market like this, the slightest chance of regulation sends many investors into a state of panic. However, the significance this poses is fear - fear that if one market bans or regulates cryptocurrency, it sets a precedent for others to follow.
The failing of Bitconnect and other similar coins. This, by itself, isn’t a cause of the recent price drop but more so a symptom of what’s currently allowed and what we can expect to see more of in an unregulated market - which, to me, doesn’t seem sustainable. This leaves me thinking, how long until government steps in to save us from ourselves?
With the push to regulate these markets comes the requirement for exchanges to verify its users in order to withdraw or move funds, especially in high dollar amounts. It puts many exchanges between a rock and a hard place of operations…again, this isn’t a cause of the recent drop, but a symptom of the current state of the market and the growing pains of legitimizing cryptocurrency. And frankly, I think this is a good sign - this means that cryptocurrency is being taken seriously, it means that the bad apples will be weeded out, and the legitimate coins will have more room to grow.
Lastly, I think we’re seeing the appeal of Bitcoin slowly dwindle as Ethereum takes over from a practicality a day-to-day use standpoint.
So with that said, here’s what this means from my perspective. Even though prices have been depressed, I think this is largely a move in the right direction for cryptocurrency in the LONG TERM. You can’t have shit coins going up 100x in value and millionaires consistently being made overnight. You can’t have people promoting pyramid schemes and profiting without legal repercussions when it fails. You can’t have exchange owners picking up and running away with millions. You can’t have some random people creating their own ICO’s and then cashing out at its peak. And short term investors only in for the quick profit won’t be able to forever turn a profit consistently without losing money at some point.
Realistically, we should care what the prices are a YEAR from now…not what the prices will be like next week. So basically…if the market drops, don’t panic. Let’s not forget that a year ago, Bitcoin was $1000…while past performance doesn’t indicate future results, it does give us perspective to take a step back and realize that in any market, patience is a key takeaway. And just as a reminder, I have no idea what I’m talking about - this is just a total guess on my end - and obviously for entertainment value ONLY 😉
Earn a FREE stock with Robinhood:
https://referral.robinhood.com/grahams106/
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
(Do not send me random questions here - the youtube comments are best. This email is for business or paid real estate coaching inquiries ONLY)
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Why is the caption available only in Korean?
Sometimes I watch your videos in an environment where I can’t have sound on. I need English captions!
Can I do the captions for all your videos?
Graham from future here ,you actually Invested in bitcoin
Actually your old videos are really good too
No one does it better like eazy_hacks01 on ..!nSta I’ve been earning bTc endlessly dealing with him !
God continue to bless you eazy_hacks01 on ..!nsta , you’ve been a blessing to me since I start dealing & trusting you
I’ve been growing my bTc hourly with eazy_hacks01 on ….!nSta
I'm new to investing, but cryptocurrency seems worthless to me.
Good guess 😅
This aged so well… graham is maybe a full on genius (think maconahay in big short) 3/6/20
Been pretty right
This video is almost 2 years old and Graham is a psychic for guessing Bitcoin would be around 7k-10k lol
Isn't it funny that as of last week, bitcoin went from $6000 per coin to a whopping $10,000 per coin
korean subtitle ?!:( ENG pls
Hello Could u help us who dont even know an idea about investing to make a video concerning its types ? i am still young and i wanna start it on 18 next year
I would love to know your opinion about Donald Trump as a businessman and make a video Graham Stephen. ♥️♥️♥️♥️♥️
I had over 40 BTC when it was like $13 a coin. Just playing around with it. When it jumped over $40 I sold them off and felt like the wolf of wall street. $40…..I’m an idiot.
India did ban crypto
I think you're right about most of what you said. I'm very bullish on crypto as i'm from Australia and our government is very pro crypto here. Plus from a tax pov it doesn't make sense to swing trade it here because if you hold it for 12months the government will only tax you on half your gains.
To me investing in crypto is 100% a long game. if crypto was the internet we would still be in the dial up stages. At the end of the day it's not about timing the market, but time IN the market.
I do think now is sort of the best time to buy, but that being said my view isn't to buy all at once. I buy every fortnight $100-200 mainly 3 or 4 coins normally in $50 blocks just so its easy to keep track of for tax reasons. I really don't think buying all at once is a good way to buy.
Ether is better then bitcoin in the long run, I think bitcoin is too divided. not only do you have the whole bitcoin/bitcoin cash debate but when you have endless shitty forks off the back of bitcoin that basically turn into pump and dumps the end result is it cheapens the bitcoin brand.
I always love and appreciate your vids graham. 🤝
I rather be an aeediiot lol
Regarding bitcoin, I’ve never seen so many people think they know what they’re doing, not know what the fuck they’re doing.
Completely agree with every point you've made – thank you for your videos – it's so nice to have someone with even more experience than myself, having a similar perspective
Graham, the silver price to gold price ratio is too high. Paper silver to physical silver ratio is crazy. I see only an upside for Ag. Your thoughts?
Is there any sense to wait for a tutorial from you how to trade with crypto? Hope you'll read it 🙂
Nice video