hello folks you have reached the
cryptocurrency portal and today we're
going to go over some information about
Bitcoin which a lot of information came
across for the last couple days and a
lot of it's very interesting so let's
dive in together this first one says
financial Titan fidelity they're
revealing that Bitcoin and
cryptocurrency adoption among
institutional investors is on the rise
now what I always say is follow the
money these institutional players are
going to be in something so risky as
they go out on the risk curve too much
because there's a lot of money behind
there's fiduciary responsibilities yeah
that's one thing if the average Joe just
throws a thousand bucks in they don't
have the same fiduciary responsibility
but institutional investors are getting
by that means they're feeling more
comfortable about the space fidelity
digital assets the bit coin and crypto
treating and custody arm of fidelity
investments which manages over seven
trillion dollars in client assets says
institutional investors continue to be
interested in BTC and crypto currencies
so in a series of tweets the firm
reveals some of the findings of its
annual institutional investors digital
asset study conducted by an analytics
firm Greenwich associates now according
to fidelity and here's their quote the
results suggest that digital assets
continue to gain adoption and interest
by a variety of institutional investors
I think that's interesting way to put it
they continued not just started not that
they went down and went back up because
of geopolitical things going on but they
continued so it's a momentum and soon it
will be FOMO the results from last
year's study show that four and ten
institutional investors are willing to
invest in digital assets over the next
five years of the institutional
investors surveyed at the time 72%
prefer buying investment products that
hold digital assets 57% prefer buying
crypto assets directly
and 57% prefer fine investment products
that hold digital asset companies
fidelity says research will help the
industry understand the obstacles that
are preventing the adoption of digital
assets while also outlining the factors
that institutions find most appealing
about them ding-ding-ding one of the
issues is regulation we need regulatory
clarity in order to move and propel this
this space forward we talk about that
all the time on this channel folks and
I'll even leave a comment or link to it
in the comment section below about
regulations in general so we can check
it out but I've always said that we need
more regulations we need more guardrails
in place once more guardrails in place
then more institutional and big money
will come in which will create more FOMO
and more retail investors will want to
get in then all right they say our
findings will highlight the fact that
institutions cannot be summed up as one
segment and that access to digital
assets cannot be as simple as one
product or asset offering fidelity plans
to release the results of the
institutional investors digital asset
study later this month that's a mouthful
institutional investors a digital assets
study all right so let's continue now I
thought this was interesting back to
back Adam back says Bitcoin targeting
300,000 with or without institutional
investors so institutional investors are
getting in according to Vitaly he is
doing a little price prediction the
claims will be with or without
institutional investors it just kind of
shows from two ends we don't like to
press predict on this channel but it's
always interesting to see why people are
saying certain prices analyze what
they're saying and then reflect on it in
the future to see how it's correlated in
the future so block stream CEO Adam back
says he believes retail investors alone
can push Bitcoin to 300,000 per coin
that's interesting because there's so
much is so much uncertainty in the in
the whole United States and the world
people don't know where to turn they're
scared out there and the finances and
the economic system is a standstill so a
lot of people are looking
to other avenues in order to invest
Bitcoin and cryptocurrencies are a
logical place and a new interview with
Bloomberg the crypto pioneer says he's
as a big believer BTC as ever to this
day he's still mining the top
cryptocurrency and never sells his
holdings Wow
hashtag Hodel back who correspondent was
Satoshi Nakamoto and created a
proof-of-work system before Bitcoin was
invented points to the coronavirus and
the increased printing of cash is two
factors that are changing people's
perceptions about money so true one on a
very basic level people I've heard hate
touching cash anymore because they think
it has a lot of germs which it does have
a lot of germs but could but could have
viruses I don't know if it really can
but you see why people are afraid of it
because of what's going on in the world
but on a bigger point that small point
increased printing the cash the
uncertainty in quantitative easing and
the feds can in central bank's continue
to print money in mortgaging the future
so people are saying this is gonna pop
one day so where do I put my money a lot
of a lot of them are to look into
Bitcoin and crypto he says retail
investors alone will likely push BTC to
$300,000 within five years whether or
not large institutional players decide
to jump in I mean if he has a five-year
range there I know by then we just heard
from fidelity but by then a lot of
institutional players are gonna get
involved so it's going to create a lot
of momentum in the space his quote is it
might not require additional
institutional adoption because the
current environment is causing more
individuals to think about hedging and
retaining value when there's a lot of
money printing in the world back says a
recent critical take on Bitcoin from
goldman sachs contains a number of
misconceptions on scarcity and shows
still early days for the crypto markets
he also denies increasing speculation
that he is the legendary anonymous
creator of BTC known as Satoshi Nakamoto
it's always interesting I know that's
almost like it's just have fun to try to
figure out who Satoshi Nakamoto is he or
she or what entity
satoshi nakamoto is I actually did a
video on the original Bitcoin white
paper by Satoshi Nakamoto that's now
almost it's about eleven years old I'll
put a link in the comments section below
let me know what you think or who you
think Satoshi Nakamoto it is but he
responds says no I am NOT it's generally
viewed at this point as better that the
founder of Bitcoin is not known because
a lot of people have hierarchical
mindset because bitcoin is more like
digital gold
you wouldn't want gold to have a founder
for bitcoin to keep a commodity like
perception I think it's a very good
thing the Satoshi stays out of the
public interesting way to think about it
I know that everyone wants to know the
Satoshi is but there is a movement out
there to keep it quiet even if you
actually knew who it was and that's a
very good point right there because you
just like gold Gold doesn't have a
founder and for Bitcoin to keep it
commodity like perception it's good to
have this person stay anonymous all
right let me know what you think in the
comment section below about that okay
Swiss bank since we're just talking
about Goldman Sachs Swiss bank says
Goldman Sachs is wrong about Bitcoin and
predicts crypto paradigm shift is coming
so a swift Bank is responding to a
recent report from Goldman Sachs that
declares Bitcoin is neither an asset nor
a suitable investment Swiss codes head
quotes head of digital assets Chris
Thomas released a point-by-point
rebuttal to the report he begins with a
comparison between bitcoins volatility
and wild swings in traditional markets
he says absolutely Bitcoin did fall 37
percent on March 12 2020 in just one
month later oil markets plunged three
hundred and thirty three percent in the
space of 24 hours nearly ten times a
greater drop touching a low of minus
fifty forty dollars per barrel at one
point I think that was just the futures
portion in December of 2019 Goldman
Sachs predicted average oil price
through 2020 would be 63 dollars a
barrel I mean it's a good point I mean
maybe it's it seems volatile because
people follow those volatile headlines
but the reality is the markets been
as well now regarding Goldman's a
certain assertion that investments
should not be reduced to a need for
others to pay a higher price thomas
responds that traditional markets also
function on an assumption of capital
appreciation and the quote here is the
ultimate decision to buy or sell comes
down to whether we believe the price
will go higher lower and hence whether
someone else is willing to pay a higher
or lower price for the investment
vikraanta and select others are the
driving force behind the paradigm shift
which is happening Goldman Sachs is
ignoring the strong foundations of this
emerging asset class based on Krypton
cryptographic principles any world where
many if not all assets will be tokenized
and treating them will be democratized
as for the long-standing narrative that
bitcoin is primarily a tool for
criminals the Thomas points out that the
chain analysis concluded in a January
2020 report that only 0.08 percent of
crypto transactions originate from the
dark net markets and the criminal
activity represented just 1.1 percent of
total activity now obviously well here
we go Bernard Mita
Madoff 65 billion dollar scam in the
fiat world dwarfs scams in the
cryptocurrency world in terms of
magnitude he contends lastly Thomas says
the fact that major financial
institutions such as fidelity which we
just talked about and JP Morgan are
confident enough to venture into the
space shows that financial institutions
do believe that cryptocurrency has a
future
although security and the management of
private keys remain challenges in the
crypto space Thomas argues that banks
such as Swift quote maintain security
you know can also solicit deposit
insurance in case of hacks all right so
let me know in the comments section
below what you think of those thoughts
from mr. Thomas now what I also thought
was interesting we just went over this
but the crypto transactions originating
from the darknet 0.08% now that's too
high 1.1 percent of the total activity
is too high we need to root out all the
evilness and
all the shady transactions north of the
average Joe to want to get involved but
just think of all the shady transactions
to just have them of cash they never
talked about that they was talk about
the dark side of crypto when really you
have a dark side with cash too it's
anonymous and people do nefarious things
with cash and drug dealing and things
like that so they're pretty equal and I
bet there's probably more scams in cash
anyway continuing along here Bitcoin
could reach twenty thousand dollars this
year says Bloomberg strategists again we
don't like to price predict on this
channel we just kind of go over the
analysis what I really thought was
interesting about this this is Bloomberg
jumping in when you get the average
everyday average Joe kind of information
that is watched by the average Joe like
Bloomberg or CNBC and they start talking
about it
that's when he seeps into the psyche of
the average investor
so here the quick three-point takes
Bloomberg intelligence strategist Mike
McGlone expects Bitcoin to reach 20,000
per coin this year next bullet McGlone
said both technical and fundamental
factors are supporting that view next
bullet the strategist also expressed
expects tether to surpass either in
terms of market share so Bitcoin is
expected to continue rising and reach
$20,000 per coin this year according to
bloomberg intelligence security
commodity strategist Mike magloan both
technical and fundamental factors are
increasingly favorable for Bitcoin
McClellan said in a new report published
on Wednesday and I'm going to show you
the link to the report as well it's 11
pages some of these factors include
bitcoins maturity against other
investments rising futures open interest
and more binding hold interest from
institutional investors and we just
talked about institutional investors
magloan said something needs to go
really wrong for Bitcoin to not
appreciate he expects Bitcoin to even
possibly touch 28,000 now Bitcoin ended
2019 at about 7,000 per coin near the
bottom of its range favoring a shift
toward
the peak last year the high was about 14
thousand which would translate into
almost double in 2020 if rotating within
this recent band so if you want to check
this out just kind of pause the video
and kind of check this out this is from
Bloomberg intelligence the corona virus
pandemic and central bank easing or
accelerating bitcoins maturity and
reducing volatility said and glown
adding Bitcoin volatility is about two
times that of Nasdaq it was closer to
seven times when the crypto price and
index first cross paths in 2017 another
factor supporting Bitcoin is rising buy
and hold interest from institutions as
indicated by the growth in Bitcoin
futures open interest and assets under
management of grayscales Bitcoin Trust
said McGlone now recently reaching about
50,000 bitcoins futures open interest
isn't a large portion of the total
supply but futures are significant as a
primary gateway for the benchmark crypto
to become a mainstream asset class of
the strategist as for gbtc AUM growth
McClung said an increasing AUM of the
trust has consumed about 25% of new
Bitcoin minds versus less than 10% 2019
the rapidly rising 30-day average of G B
D CA um near 340 thousand and Bitcoin
equivalents about 2% of the total supply
about two years ago it accounted for one
percent so just more and more momentum
which is fine we'll stop there here I
just thought this is interesting cuz
this is this is what they actually the
analysis that he was referring to it's
11 pager it's on Bloomberg LP org go to
their website I will put a link in the
comment section below
to this 11 page little article that he
was just referring to but I just thought
it was interesting it's on Bloomberg as
well speaking of Bloomberg if you go to
Bloomberg calm backslash crypto as
criminal page now so think about it
they're doing an analysis about the
crypto space they have analysts that are
analyzing and doing reports about it and
now they have their own crypto page so
you know the the FOMO is coming folks
okay eerily accurate crypto analyst says
Bitcoin breakout to 150,000 will begin
on this date I always love when they
call an exact date because they're
either right or wrong on that date and
then you can reflect on it's not some
well one day in the future I think it's
going to do this they're gonna point to
some very specific things all right
we'll listen we don't price predict but
we analyze what you say to try to find
some correlation in the future one of
the few crypto currency analysts who
correctly call bitcoins 2019 pullback
says he believes BTC is gearing up to a
finally eggs a long term bear trend that
began about two and a half years ago in
a series of charts Dave the wave
highlights bitcoins movements inside a
symmetrical triangle dating back to late
2017
since Bitcoin failed to break above ten
thousand three hundred earlier this week
Dave now expects a BTC to reach a low of
about 6500 in September before finally
breaks out of the trend for good by
April of 15th of next year tax day then
you can pay your taxes Dave is closely
followed in crypto circles because he
was one of a few strategists who told
traders back in June of 2019 with
Bitcoin was training 13,000 to prepare
for a significant correction he
predicted that BTC would fall to a low
of 6,000 range by the end of the year
BTC ended up hitting a bottom around
6400 in December Dave now believes that
the crypto King is preparing for a long
term parabolic rally to 150,000 hitting
a peak sometime in 2023 well he I guess
he is predicting three years from now
but they still forward momentum the
analyst says bitcoin is poised to
benefit from fiscal stimulus and
increased money printing which will
talking about as the central bank's keep
that quote monetary easing continuing
more qualitative easing quantitative QE
he believes the predictions that
hyperinflation is coming up are
overblown instead he expects the dollar
to remain relatively strong compared to
other currencies as an overall as oh and
overall fiat devaluation occurs and this
quote is many think hyperinflation based
on simple monetary theory is the key
that unlocks mysteries of the monetary
universe in reality it's an ideological
for ideology for lazy minds so here's
Dave the wave follow him on Twitter yes
not a conventional deflation which would
have everything Center on the dollar
more nuanced than that
I call it hyperinflation where a
financial assets deflate relative to the
strongest currencies USD than gold and
BTC BTC is the wild card here in that
scenario all right so grayscale buys
enormous amounts of Bitcoin as Libra
revamps a revamp eternal crypto market
analyst so this is just grayscale you
know more forward momentum we won't go
through all that I just love seeing all
these positive highlights about the
space here says Bitcoin trading volume
will match major asset classes of
historical growth continues this coin
metrics coin metric says it passes
prologue it won't be too long until
bitcoins trading volume matches other
major asset classes sing so you can
check out here where it's talking about
the daily Bitcoin volume what's the spot
market here so there we go so next is
powerful bit coin and crypto proponent
Hester Pierce nominated to second term
at sec so I've actually done a video
about Hester Pierce and her views on
crypto regulation I'll put that in the
comment section below but let's go
through this latest cuz that's great
that this crypto mom knows what we like
to call her is going to continue at the
sec so popular bit coin and crypto
advocate Hester peers may retain her
position as Commission
of the SEC according to a White House
press release President Trump has
nominated Peirce to serve a second-tier
term at the SEC Pearce a lawyer who
specializes in financial market
regulation was sworn into office in
January of 2018 her current term is
expiring on Friday but can continue
pending a review of her nomination she
will serve as SEC Commissioner until
least 2025 if she gets the backing from
the Senate which confirms nominations
for key federal officials Pearce became
known as crypto mom
due to her art and support for digital
currencies in July of 2018 she publicly
dissented on the SEC s decision to
reject a Bitcoin exchange traded fund
applications submitted by the Winklevoss
twins Tyler and Cameron
so here's her this is February 26 2020
has two appears at Bitcoin one element
one the ETP approval beet elementary
funny
in February Pierce said the SEC should
give crypto startups that come conduct
token sales a three year safe harbor
period before their digital assets are
subject to securities regulations that's
good a little sandbox financial sandbox
to kind of play prove out your I guess I
would say prove out your startup and
make sure your mission can be completely
be completed Pierce believes that this
will give crypto startups ample time to
prove their tokens or illegals all right
sounds good so hopefully she gets
approved by the Senate so let me know in
the comments section below what you
think of Hester Pearce miss crypto mom
alright folks so I'm going to wrap it up
there thank you again for tuning in the
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[Music]
you
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