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I wanted to write and say that I am bullish on Bitcoin despite what the title says. I hate spreading fear into the crypto world but I felt like this video needed to be made. Too many people forget about the reality of regulations and the control that the US government has over the price of Bitcoin. We have seen Bitcoin fall multiple times because of simple “rumors” that were put onto the internet. When all of the China FUD occurred, the price fell 5-10%. When Jamie Dimon criticized Bitcoin, the price fell again. The price of Bitcoin is STRONGLY effected by the news and we need to completely understand that as investors.
The US Government is currently losing out on millions of dollars worth of tax revenue because of Bitcoin. It cannot be tracked. If I am paid via Bitcoin, the US government would never know. I can tell you that they are trying to figure out ways to capitalize on cryptocurrencies so that they can pull in tax revenue from it. I did not make this video to scare anybody. I made the video to plant a seed in your mind so that you understand that Bitcoin is not unstoppable. A major reason that I trade is so that I can stay out of the market as much as possible. It allows me to make profitable trades but also protect myself from the potential “breaking news” that scares people into selling.