Name: Why Bitcoin Hasn't Crashed Yet - What Banks Don't Want You To Know
Uploaded: 2021-12-08T18:00:24.000Z
Duration: 10 min 2 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

When you look at the history of Bitcoin it is mind blowing.

What started as a little project is now worth over a trillion dollars.

I remember when I heard about Bitcoin for the first time in 2013, it only existed on the dark web.

Only real enthusiasts actually used it back then.

I know that looking at the Bitcoin price today, it is really difficult to believe that it used to cost around 10 bucks but that was the reality back then.

Those were the days where you could mind Bitcoin from your home and not in a giant factories filled with computers.

In fact that's how most of the Bitcoin your mind back in the day.

That is impossible today because the network has grown so much that you need a huge computer warehouse to make that possible.

It experienced its first mini bubble where the price spiked over $220 but it was not mentioned in the media as it is today.

You could find that in Bitcoin forums were crypto enthusiasts exchange ideas and opinions about the future of crypto to be honest, most enthusiasts back then couldn't imagine Bitcoin crossing a trillion dollar valuation but here we are.

2021 can be officially named the year of Bitcoin because for the last 12 months the price has been rising faster than ever.

We can criticize the pandemic as much as you want but if it wasn't for the pandemic, the scripture bomb wouldn't probably happen just to remind you that prior to the pandemic the price was floating around $7000.

It is hard to believe that, but that was the case.

In fact in december 2018 it reached its rock bottom of $3400.

I think it can only end with the people who actually bought it back then.

Imagine for a moment the returns they have made but you can go back in china and feel bad that you haven't invested in Bitcoin back then.

However, what we want to find out in this video is why Bitcoin hasn't crashed yet.

I mean for many people, Bitcoin or everything that is happening with Crypto recently is a bubble and there are some good reasons why people believe so we have talked about some of them in previous video but we also talked about that it might not be a bubble and why Crypto has a future, Especially when you come across news such as this.

The president of El Salvador is planning to build a Bitcoin city and use Crypto to fund it.

That is one of the wildest ideas that I have come across this year.

What started as a small project is now turning into a city where everything in that city starting from roads restaurants, schools will be funded with crypto.

It sounds like a utopia that Crypto enthusiasts dream about to do that, the government has to raise money and it wants to do it by selling Bitcoin bones.

It sounds like a great plan to help the country finally get out of the economic crisis that the country has been going through for the last several years.

According to the official statements, the construction could begin as soon as 2022.

Regardless of how much the country is struggling economically, it still makes the headlines and push people to believe further in the future of Bitcoin.

When the country sees its future through building a Bitcoin city, you know that Bitcoin isn't going anywhere anytime soon, But that's not the only factor that's keeping the Bitcoin price at around $50 or $60,000.

Kim cook the Ceo of the most valuable company said that he actually holds crypto, he did not specifically mention Bitcoin, but if you're investing in crypto then Bitcoin is literally your first option.

He did not say anything about Apple starting accepting crypto, but if the Ceo is so exposed to crypto then the company is seriously looking into it.

So it's just a matter of time before Apple gets into the game as well.

Check a look at amazon, the company has posted a job ad for a new head of digital currency and Blockchain to join its payment acceptance and customer experience team amazon seems to have been working on its move to get into crypto the moment world's largest companies get into the game or rather invest in crypto and is over, there is no going back what surprised me the most is what the ceo of jpmorgan said.

Jamie Diamond is literally the face of Wall Street and he admits that Bitcoin price is going to grow, even though he thinks that Bitcoin prices worthless, it is clear that the status quo is accepting crypto.

What's also important to understand is the adoption of virtual and artificial reality, Wait A.

Since the invention of the internet, we have been building this virtual world.

First, it consisted of sending emails that it moved to where we shop online, attend meetings through zoom and even compete internationally with esports.

The next stage in this virtual world is metaphors where we are going to have a virtual world where everything is possible.

We're already living in this VR world partly.

I know that it sounds too futuristic for some of you, but we have been heading into this direction for over 20 years and the pandemic pushed the world to move to it even faster to the point where one of the biggest internet giants renamed itself to match up.

If you have seen sex presentation, you know what to expect.

In fact, most experts predict that Apple's next big thing is going to be a VR product.

I'm not sure how it's going to look, but definitely something related to VR But in this virtual world we should have a system to own things that's where for example, and if these come into the picture and they're based on ethereum for example and crypto is the de facto money of ritual world.

Andre Jig has an amazing video on the metaphors here.

Is that a fantastic job explaining how it could potentially look like.

I will leave a link to his video in the description, but not everything is sunshine and rainbows.

First of all, the last week or so, or at least when I'm writing the script, crypto is going down, it has already declined by about 15%.

I'm not sure how much more it will decline by the time this video is up on the channel, but let's hope that it will recover.

A lot of people have been waiting for a crypto crash since the beginning of the pandemic.

Although that I believe in crypto as well, there's some good arguments why things could crush to a certain extent.

One reason that we know crypto rose so dramatically is because of the access to cheap money.

If you have watched our video on how the economy works, you know that there are periods of recession and booms and for the past year or so we have been in that boom period and it seems like it will last for at least one more year.

It is difficult to make such predictions since the world is unpredictable.

But during such periods there is just too much money in the economy and crushes almost never happen, especially when it comes to a Bitcoin where it has a huge dedicated network when this period is going to be over and it's not going to be over in a glimpse of an eye.

Just to let you know that the last economic expansion lasted for over a decade When the economy crashed in 2008.

The economic expansion lasted until 2020.

Of course, if you take a look at the data, the slowdown started back in 2016 but nonetheless it somehow stabilized at around that stage.

So to expect any kind of crush in the coming future is pretty unreal.

But overall to the whole economy as the Fed raises interest rates, the supply of cash will keep diminishing in the economy.

Which means that people on average will have less money ready to spend.

Which will also impact the demand for crypto and Bitcoin.

It's impossible to predict how much impact it is going to have encryption, but it will definitely influence the price.

All you have to do is pay attention to interest rates because they are the key factors that will influence the economy.

But even if it does, it won't entirely crush the price because if major corporations are adopting crypt out, then it's just going to be a fundamental part of our economy.

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