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Bitcoin CRASHES Below $104K! Time to SELL?! | Bitcoin Simply · Simply Bitcoin

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  I have a confession to make. I woke up this morning and saw
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  the price of Bitcoin below 104 K and I thought about selling it
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  all, especially when I saw that you could have bought pigs,
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  soybean oil, meat, cows and dairy cows and I'll perform
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  Bitcoin this year. I almost sold all of my Bitcoin,
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  especially when I saw regional banking stocks collapsing,
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  marking the signal of a potential next banking crisis in
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  America. I thought about selling it all,
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  especially when I saw shares of Zion Bank falling 12% when they
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  disclosed a $50 million charge off for bad loans.
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  What made it even worse is that Western Alliance shares dropped
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  11% on the same kind of news. They had exposure to 1st Brands
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  Group which collapsed. And I specially thought about
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  selling my Bitcoin shares when Jamie Dimon said that there
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  isn't just one cockroach. When you find one, there's more.
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  JP Morgan announced over $170 million worth of losses this
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  quarter on their tricolor investments.
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  I almost sold it all when I saw the price of gold ripping past
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  $4300.00 an ounce in Japan's top gold retailer.
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  Literally had to shut off the ability for people to buy more
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  gold. I mean, people are lighting the
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  streets to try and buy gold right now.
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  They're literally storming the shops for the yellow metal in
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  Vietnam. And then, like Klay Thompson, I
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  had to wake myself up to what was actually going on for.
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  Early games here in the season as they try with design ups, I
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  don't really know what. Clay's doing.
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  Doing here, but he's getting ready to.
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  Play. He's getting ready.
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  I need some of that clay. Wake up, zoom out, snap out of
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  it. You thought this was going to be
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  easy. You thought they were just going
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  to let us walk in and walk out with all of the wealth and the
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  future wealth and the future economy moving forward.
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  Is that what you thought? Buck up, son.
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  It's going to be a fight. It's going to get bumpy from
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  here and either you're in or you're out.
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  But take some time and make the decision.
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  Now I know which team I'm riding with.
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  This is Dante Coke with Bitcoin. Simply, let's go.
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  People are literally wrapped around the block to buy gold
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  from bullion shops like this one in Australia.
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  Gold is ripping higher than Brandon Miller on this Live from
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  the Mellow right now. Gold is hotter than fish grease
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  right now. So much so that Jamie Dimon,
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  who's not a gold buyer, says that it makes some sense to have
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  some gold in your portfolio. Gold overvalued or undervalued?
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  I don't know. I mean I'm not a gold buyer.
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  It costs 4% to own it. It could easily go to 5000 or
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  10,000 in environments like this.
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  This is one of the few times in my life I said semi rational to
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  have some of your portfolio. Crazy times.
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  Maybe I should sell my orange coin for the gold coin.
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  And then I had people like Anthony Pompaniano slap me in
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  the face to help me snap out of it and recognize that Bitcoin is
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  the superior asset. So.
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  About one year ago, Bitcoin was at like $70,000.
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  Yeah, I still had incredible performance.
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  Go back to 2020, it's up 1500%, right?
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  So one of the things that I like to do is I like to take assets
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  and denominate them in Bitcoin so anyone can make money.
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  When you compare it to the dollar, the dollar only goes
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  down. And so if you look at stocks,
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  the S&P is up 100% since January of 2020.
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  In Bitcoin terms is down 88%. So while stock investors think
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  they're winning, when you compare it to a finite asset
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  that can't be debased, they're actually down significantly.
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  When you look at gold, similar story is gold is actually up
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  about 150% since January of 2020, but when you denominated
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  in Bitcoin price, it's down 84%. And so again, it kind of comes
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  back to this idea of what is your hurdle rate?
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  Are you trying to outperform dollars or are you trying to
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  outperform a finite asset? For me, I think of Bitcoin as
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  the hurdle rate and as many people know the hurdle rate, if
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  you can't beat it, I think you got to buy it.
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  What do you? Gold is down 84% against
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  Bitcoin. It's still the hardest money.
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  Like Cooper Flag, the heralded #1 pick for the Dallas Mavericks
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  who dropped the lawnmower ones with New Balance this week.
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  Sometimes you realize that the future isn't always exciting.
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  You have to have a long term perspective.
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  Trading your Bitcoin right now is a sign of low IQ.
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  Like if you roll the clock back to 2007, Steve Jobs invents the
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  iPhone and you know, people thought, oh, it's a toy.
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  By 2009, the iPhones got an App Store.
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  And if you understood anything about software, the iOS is a
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  new, is a new operating system. And it's going to be its own
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  ecosystem, at least as important as the web.
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  And it's going to, it's going to spawn an entire new generation
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  of applications, right. And the mobile wave is
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  responsible for what, like $5 trillion, Five, 10, five to 10
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  trillion dollars of wealth over the next decade.
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  Can you imagine someone sitting around saying, oh, I get mobile
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  device technology and you're trying to time the market in
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  Apple stock in 2011. Like you're buying and selling
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  Apple stock in 2011. You're like, you want to shake,
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  I'm like, are you out of your mind?
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  I'm, I'm trading Facebook stock back and forth between $8 a
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  share and $4.00 a share and $12.00 a share.
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  And you're, you just want to do this like, like, do you not
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  understand that one day every single person on the planet is
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  going to have one of these things in their pocket and it's
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  going to go up by a factor of 100?
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  And you're trying to like trade Apple stock between $1.25 and
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  $1.17 and bragging about how you bought it $1.25 and sold it at
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  $2.11. And have you figured out the
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  consequences of being short the share if it goes up by $100?
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  Like the amount, like, are you out of your mind?
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  Because by the way, like I, I spent 30 years in the business
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  and I obsess over this every single freaking minute of the
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  day. And I wrote a book on it, right?
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  I wrote the book. I predicted the future.
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  You know, I made $500 million investing in these things,
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  right? And I started and, and I put a
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  small amount of capital in. And let me tell you one thing,
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  John. I can't time the market I have
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  no. Freaking clue Sailor says he has
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  no freaking clue when the market is going to RIP and he's not
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  timing the market. And you better be sure that he's
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  not selling. Even though there's rumors from
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  some people out there that there's some Bitcoin treasury
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  companies that try to mimic the Sailor playbook that are in
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  trouble right now. Just rumor.
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  Don't be like Andrew Ross Sorkin in the next 10 years who said
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  that 10 years ago he should have just listened to his friends and
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  bought Bitcoin. Bitcoin Gold.
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  I'm long the indexes and no I, by the way, I wish I could, I
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  thought, but for many, many years, it's probably shifted
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  now, but for years upon years, I was always, I think Chamath and
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  I've talked about this. I was always worried about
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  buying Bitcoin because I didn't know I I didn't want to be on TV
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  or in the papers. I would do it.
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  I came on CNBC. Hotel.
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  Sorkin to buy it. And I would.
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  Fingered a coin, 200 coin. Sorkin would show me a clip of
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  Charlie Munger telling me that it was like poison.
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  And he would say, Tom, what do you think?
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  And I said I have tremendous respect for Charlie and Warren,
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  but they're wrong. Remember those moments fondly
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  and sadly, because I should have.
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  I should have listened. I should have listened.
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  It doesn't matter if the Greed Fear Index is showing signs of
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  fear in the market. It doesn't matter if the VIX
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  rips past 25, which is typically a breaking point for things
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  becoming more problematic in markets.
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  It doesn't matter if Kristalina Gorgeva, a Bulgarian economist,
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  is saying that there could be a next crisis coming.
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  And the third big risk, as always, is the unknown.
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  We got. We learnt over the last years
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  since COVID, think of the unthinkable.
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  I don't know what the next shock is going to be.
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  I don't know when it is going to come, but I'm pretty confident
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  that would be 1 and then we attest it.
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  And you know why I say that? Because even she sees the
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  writing on the wall. She said that the digital asset
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  future is here and it's here to stay.
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  If you can't see it, well, you're going to start seeing it
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  everywhere. But generally you tell them to
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  embrace it. I'm I'm telling countries accept
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  reality. Fiat money is moving digital.
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  The developments in in crypto, both UN unbacked and backed,
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  they're happening with exponential speed.
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  So yeah, you can try to lock your country away from this.
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  Good luck with it. So yes, I'm telling my members,
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  understand it and then decide for yourself how you're going to
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  operate in this world, but do not close your eyes to reality.
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  Companies like Square are enabling 4 million merchants to
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  be able to buy Bitcoin or have their customers transacting
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  Bitcoin with no fees. But you, you're not going to be
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  the ones to sell your Bitcoin because people who own the best
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  assets don't sell those assets. And one of the ways you can
• 9:19
  unlock liquidity in your Bitcoin without selling your Bitcoin is
• 9:21
  by working with a company like Leaden, the leader in Bitcoin
• 9:24
  back alone since 2018. Leaden allows you to unlock
• 9:27
  liquidity in your Bitcoin without selling your Bitcoin.
• 9:30
  If you want to borrow $2000 in Fiat while you post $4000 in
• 9:34
  Bitcoin collateral, it's a pretty simple process.
• 9:36
  There's no credit checks and loans start at just 12.4%.
• 9:40
  Fiat is into your account in less than six hours and the
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  application takes just two minutes.
• 9:44
  And you get .25% off your first loan by going to learn dot LED
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  and dot AO slash simply to get started.
• 9:50
  Don't sell your Bitcoin. One of the other ways you can
• 9:52
  continue to grow in your Bitcoin journey is by getting a coach,
• 9:56
  someone to help you along your Bitcoin journey journey to help
• 9:59
  you to understand how to manage your Bitcoin, how to maintain
• 10:01
  your Bitcoin and how to do it privately, safely, securely and
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  confidently. And that's why we partner with
• 10:06
  the Bitcoin Way, the leaders in helping you to secure your
• 10:09
  generational wealth. The right way to help you become
• 10:12
  a sovereign individual. Schedule a free 30 minute
• 10:14
  consultation with a coach from their team at the
• 10:16
  bitcoinway.com/simply Bitcoin. One of the things that I do in
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  times like these is I look to people who understand the
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  plumbing of the system and I see how they're responding and how
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  they're reacting. One of those is David Marcus,
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  the former president of PayPal, the multi trillion dollar
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  payment giant who started this whole digital payment thing at
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  the early days of the Internet and.com boom.
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  And also he was one of the creators of the Facebook Libra
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  coin, which was famously shut down by politicians in the
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  government. You think he has some pretty
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  hard earned wisdom about what the future of payments and what
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  the future of money will look like?
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  Well, he says that Bitcoin becoming the primary in the
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  dominant settlement network isn't priced in I.
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  I still feel Bitcoin is severely undervalued, especially if if
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  you compare it to gold. Like if, if Bitcoin was worth as
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  much as gold, it would be $1.3 million of Bitcoin.
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  And I think it's just a matter of time.
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  And I also feel like the utility phase of Bitcoin as a neutral
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  settlement network and asset for all of the payments in the world
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  hasn't been priced in at all. So I think it's just still so
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  incredibly early for the asset. Stay calm, stack on, and never
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  forget to zoom out on days like this.
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  Declining trust, cheaper energy, deflation of the dollar,
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  inflation of hard assets, Global debt up, asset prices up,
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  Government intervention becoming more necessary by the day, going
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  up. None of that has changed.
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  What's your time horizon? Is it four years?
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  That should be a minimum. If it's ten years, that's
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  appropriate, but the right time horizon is forever.
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  Buy the best assets and never sell.
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  The message is pretty simple. Subscribe to the channel when
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  you need that alpha, when you need a pick me up, a woosa, A
• 11:53
  kumbaya for days like this when the market is absolutely insane
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  and you come to the channel because we hook you up.
• 12:00
  Like if you're going to the mining disrupt conference, the
• 12:02
  largest Bitcoin mining Expo conference in the world,
• 12:05
  happening in Dallas, TX from November 11th through November
• 12:07
  13th. Well, you can use the promo code
• 12:09
  simply Bitcoin for 20% off your tickets.
• 12:11
  As always, this is Dante Coco, the Bitcoin simply hay stacking.