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Bitcoin just hit a new all-time high
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this month sparking a big question is it
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too late to invest in Bitcoin now has
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the boat sailed or is there still time
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to jump in before it skyrockets even
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further you've probably been thinking if
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you should continue buying Bitcoin or
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you're even considering buying Bitcoin
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for the first time you have a mix of
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fomo but also fear of losing your money
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will it pay off will the price still go
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up to 200,000 500,000 or even 1 million
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like some experts predict or could it
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all go down in this video I want to
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share with you my thoughts on bitcoin's
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future and my own journey of investing
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in Bitcoin this is not Financial advice
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by the way these are just my opinions
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and how I understand Bitcoin so do your
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own research to come to your own
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conclusions and decisions so let's dive
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in this belief that it's too late to
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invest whether it's in stocks property
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or anything else just because the price
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is already very high is a faulty
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assumption I agree the price of almost
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$100,000 or about $140,000 Canadian it
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seems as astronomically High by the way
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Bitcoin has not hit $100,000 yet at the
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time of making this video although it
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got super close but in case it has now
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at the time you're watching this video
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write 100K in the comments but if we
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look back at bitcoin's history there
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were countless times when it was much
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cheaper and people still felt it was
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expensive people thought Bitcoin was
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expensive at 60,000 a bargain and even
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at 20,000 Bitcoin above 20,1 such a
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steal now even at those prices people
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thought it was too late to enter already
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was it though sure it would have been
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amazing to buy Bitcoin at $88,000 even
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better at $800 or even $80 if you had
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your investment would have increased by
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over a thousand times by now let's not
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go
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there but that doesn't mean that it's
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not a good investment now the price
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itself doesn't determine whether it's a
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good investment or not it's potential
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for growth does I first heard about
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Bitcoin in 2011 when bitcoin's highest
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price was 20 $9 and I totally ignored it
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then I read some bitcoin news in around
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2017 and it cost below $220,000 at its
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highest again I didn't pay attention to
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this mysterious coin yes that's how it
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appeared to me like some collector's
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coin I didn't understand anything about
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it was only in 2021 that I started
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buying Bitcoin when Bitcoin was between
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35 and
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$45,000 I first started buying Bitcoin
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on this platform called endx a Canadian
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cryptocurrency exchange and I was super
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conservative about it because I didn't
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understand much about Bitcoin at that
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time buying only $50 here $50 there
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andax is a really good platform by the
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way andax is trading fees are only 2%
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and the app is super easy to use even
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for beginners even if you're already on
2:43
a crypto platform as long as you're
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still keeping crypto on an exchange and
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haven't transitioned to a cold wallet
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yet it's worth considering opening
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another account with another exchange
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like endex for diversification purposes
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although note that your Bitcoin is not
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actually located on that exchange
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because it's recorded on the blockchain
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if you want to sign up for it you can
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get a $10 bonus by using my referral
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Link in the descriptions below and
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depositing your first $100 with endex
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note that I will receive a small
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commission as well I continue to dollar
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cost average into a Bitcoin throughout
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the year 2023 and 2024 as the price Rose
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to
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$65,000 dropped again to
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$116,000 pumped to 560 70,000 and
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finally almost reached $100,000 and at
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every price point I also thought that
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man this is too expensive already and
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maybe it's time to stop but when the
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price went up and up I soon regretted
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that I didn't buy more now that I
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understand more about Bitcoin I'm
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continuing to buy it even though the
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lizard part of my brain says it feels
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expensive because I believe that Bitcoin
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is still in its infant years and will
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grow massively in the next years and
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decades I don't think that a $1 million
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Bitcoin is impossible although it's
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still hard to Fathom at this point so am
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I saying that it's a good idea to invest
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in something just because it went up in
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the past not at all in making a
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financial decision especially when
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deciding what to invest in it's less
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about historical performance how an
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asset did in the past but more about the
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fundamentals of the asset what I'm
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trying to warn you about though is
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making this falling mistake and this
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applies to bitcoin and other investments
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in general to think that it's too late
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to buy Bitcoin just because it feels
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expensive without one understanding
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where we are in the history of Bitcoin
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so bitcoin's long-term price development
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we just talked about people always
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thought it's too expensive to buy
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Bitcoin but year after year the price
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kept climbing and the same people would
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say I should have bought 3 years ago it
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was so cheap it's also a mistake to
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dismiss Bitcoin without too
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understanding the true value of Bitcoin
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you want to invest in something that's
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valuable now and that will continue to
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grow in value that's why you don't park
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all of your money in a checking account
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or depreciating consumer goods hopefully
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but what is bitcoin's value and why do
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Bitcoin proponents say that it can only
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go up I think the Bitcoin is is going to
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it's going to climb in a serpentine
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fashion it's going to advance and come
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back and it's going to keep uh it's
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going to keep climbing and these are the
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key factors that determine its value and
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future potential and whether its price
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is likely to rise or fall in the future
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a quick 101 on bitcoin Bitcoin was
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created by Satoshi Nakamoto a stud
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because until this day no one knows who
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he really is Bitcoin is the first and
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largest decentralized digital currency
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allowing users to transfer value
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directly without the need for
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intermediaries such as Banks governments
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or other financial institutions and this
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is one of bitcoin's most unique
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characteristics it has a fixed Supply
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cap of 21 million coins it's designed in
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such a way that there can never be more
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than that which makes Bitcoin a truly
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scarce asset this is why Bitcoin is so
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special in the eyes of many investors
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and why Bitcoin is different from other
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cryptocurrencies and I would say that
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the following is the most important
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reason why I had to invest in Bitcoin
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since there is a limit of 21 million
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coins and no more Bitcoins can be issued
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Bitcoin is anti-inflationary I almost
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said anti-inflammatory although that too
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meaning that Bitcoin can serve as a
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hedge against inflation the US Dollar
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Canadian dollar and any other fiat
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currency in the world continue to lose
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value over time the government issuing
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those currencies continue to print money
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to finance their ballooning expenses our
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US dollars or Canadian dollars for my
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friends here in Canada which we worked
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so hard to earn is weakening and are
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purchasing power declining let's just
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look at the decline in purchasing power
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of the US dollar over time one US dollar
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in 2020 used to be worth $25 about 100
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years ago in other words its worth has
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declined by 96% in 2020 alone the US
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money supply grew by $3.8 trillion which
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is 20% of all dollars ever created and
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it's not much better in Canada imagine
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going to the store in 1970 with a one
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Canadian dollar bill to buy an item fast
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forward to 20124 you would need $7.80 to
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buy the same item if we turn this around
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if you had $1 in 1970 it would be worth
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only about 12 cents in 2024 the more
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money the government prints the more
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value it will lose and there's just no
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end inide in the short term you may see
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currencies fluctuating weakening then
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strengthening again but over the long
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term the end game is that all Fiat
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currencies are going towards zero one of
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my favorite YouTubers in the crypto
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space Bitcoin University refers to the
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dollar as a melting Ice Cube soon you
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won't have anything left make sure to
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check out his channel if you want to
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learn more about Bitcoin while there's
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this pending Doom with Fiat currencies
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there's no inflation happening with
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Bitcoin because there is no more
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printing of Bitcoin 21 million is all
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there is ever going to be the question
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is if you are going to be an owner of
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one of these Bitcoins or not one reason
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more people are buying Bitcoin is that
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Bitcoin is secure Bitcoin transactions
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are secured using blockchain technology
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which records every transaction on
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multiple servers or nodes across the
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globe this decentralized structure
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ensures that no single entity controls
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or can alter these records once the
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transaction is added to the blockchain
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it becomes nearly impossible to change
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or reverse offering robust protection
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against fraud and manipulation and here
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are two other developments that I think
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are really strong reasons for bitcoin's
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price to increase even further the first
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one is what's called Bitcoins housing so
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Bitcoins are created by miners through a
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process called mining they'll mine until
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the maximum supply of 21 million
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Bitcoins has been generated by the
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network and in return for their work
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miners are rewarded with newly created
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Bitcoins about every 4 years the reward
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that the miners receive is cut in half
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this means fewer new Bitcoins are
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created making them more scarce this
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helping reduces the rate at which new
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Bitcoins are introduced into the
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circulation potentially making them even
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more valuable as demand increases and
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the supply decreases so far there have
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been four halings including the one in
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April 2024 and based on past housings
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history to take with a grain of salt as
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always the Bitcoin price went up
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massively within a few months after each
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haling and recently we've seen this
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repeated again based on the decreasing
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Supply and increase in demand it would
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really surprise me if we would not see a
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similar jump in the next months and
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years the second development that kind
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of foreshadows further massive price
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increases is increasing Bitcoin adoption
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right now there are 106 million Bitcoin
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owners in the world and 400,000 daily
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Bitcoin users this is still relatively
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low compared to the five 5.6 billion
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adult population we have in 2024 but the
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important thing is that Bitcoin adoption
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meaning people and businesses accepting
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and using Bitcoin as part of their
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financial strategy is steadily
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increasing despite some shortterm
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fluctuations over the long term the
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amount of Bitcoin Holdings increased
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steadily right now bitcoin's market
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capitalization is still ranked seven
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compared to gold at number one but here
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too we see that it has steadily
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increased and not only has individual
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adoption increased but also
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institutional adoption especially with
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the recent approvals of Bitcoin ETFs and
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of course the recent election results in
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the US will only make for a more
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hospitable environment for Bitcoin to
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flourish and these are all reasons why
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it's likely for Bitcoin to go up further
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some even predict it could go up to 10
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million $20 million even though I think
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that might take decades now what about
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the risk of course every investment has
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a risk in the short term Bitcoin is
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extremely volatile so unless you're able
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to deal with Bitcoin going to $90,000
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one day and then dropping to 80,000 and
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then 65,000 then shooting up again
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within a few weeks and months then
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Bitcoin is not for you Bitcoin is good
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as a long-term investment as a store of
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value also what if a worst case scenario
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happens like all governments Banning
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Bitcoin so you can't use it anywhere or
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what if there is a global internet
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shutdown so you can't access your
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Bitcoin these are very unlikely events I
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would say in the same category of Black
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Swan events very rare and unexpected
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events so if you entertain these
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scenarios it would only be fair to apply
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the same Black Swan events to other
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kinds of Investments too and then there
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are critics saying that Bitcoin is not
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useful as a currency and yeah there's
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truth to it right now it's relatively
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slow and too volatile to be used to buy
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daily groceries but who's to say that
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Bitcoin will not become faster and more
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practical to use in the future and in
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the meantime it's a great store of value
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value then why are people so afraid to
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buy Bitcoin because they think that the
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price is already too high as we just
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talked about because Bitcoin is volatile
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which is correct that's why you never
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put money that you need for short-term
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living expenses into Bitcoin and also
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don't put all of your money into Bitcoin
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you want to diversify a bit one
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investment strategy you can use is to
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only invest a small percentage of your
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long-term portfolio in Bitcoin and of
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course this is something new so it's
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natural that people are critical will
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this last is this is scam is there a
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catch I think it's a good idea to ease
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your way into Bitcoin start with small
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amounts you're comfortable with while
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learning and getting used to the
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volatility and then over time you can
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increase your Investments but don't wait
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too long also once you accumulate larger
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amounts of fraction of Bitcoins or
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Bitcoins consider transitioning your
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Bitcoin to a cold wallet to safeguard it
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I'm very happy that I invested in
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Bitcoin even though I have to admit I
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had cold feet at times moments thinking
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should I stop is this too expensive now
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and just fear messing with my mind but
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that all being said don't trust me a
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random Bitcoin Enthusiast on the
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internet do your own research to come to
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your own conclusions and decisions but
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if you're ready to start your Bitcoin
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Journey then make sure that you check
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out the link to endex in the
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descriptions down below so what do you
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think guys is it too late to buy Bitcoin
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or not let me know in the comments down
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below
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[Music]