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Why is Bitcoin CRASHING? Could the Bull Run be Over? | Bitcoin Simply · Simply Bitcoin

• 0:00
  The president says he only cares about one thing, being number
• 0:03
  one in crypto. I only care about one thing.
• 0:06
  Will crypto be will we be #1 in crypto?
• 0:09
  Crypto has turned out, and in that sense, I've been right.
• 0:12
  Cryptos turned out to be a massive industry, if you want to
• 0:15
  call it. That $1 trillion Standard
• 0:17
  Chartered CEO says that all transactions will be settled in
• 0:21
  crypto and all money will be digital.
• 0:24
  Our belief, which I think is shared by the leadership of Hong
• 0:26
  Kong, is that pretty much all transactions will settle on
• 0:30
  change eventually and that all money will be digital.
• 0:32
  OK, let me guess, Dante. You're going to tell me that
• 0:35
  BlackRock is buying, Michael Saylor is buying, countries are
• 0:38
  buying, banks are buying. Then tell me, why is Bitcoin
• 0:41
  crashing? Ah, the question of the day.
• 0:44
  We're going to break down why Bitcoins crashing, who's selling
• 0:47
  and what's going on under the hood.
• 0:48
  I bet you won't believe who's the one that's selling.
• 0:51
  It might be a little depressing for some, but for some, look at
• 0:54
  it as an opportunity. This is Dante Coco.
• 0:56
  Bitcoin simply, let's go. I want to make crypto great for
• 1:05
  America. That's the only thing.
• 1:06
  I don't want to have somebody else have crypto and have China
• 1:11
  be #1 in the world in crypto, because in crypto it's a kind of
• 1:14
  an industry where basically you're going to have #1 and
• 1:17
  you're not going to have a number 2.
• 1:19
  And right now we're number one by a long shot.
• 1:21
  I want to keep it that way. The same way we're number one
• 1:24
  with AI, we're number one with crypto.
• 1:26
  I don't want to keep it that way.
• 1:28
  The president has come out and said that he wants America to be
• 1:31
  the leader in crypto, igniting a global race for crypto supremacy
• 1:35
  with China. He also said a very true fact in
• 1:38
  this statement in sound bite. It's at this is going to be a
• 1:40
  winner take all. There will be no second best.
• 1:43
  And that's why countries are clamoring to be the leader in
• 1:46
  the Bitcoin or in the crypto space like the UK.
• 1:49
  Listen to this clip from Nigel Farragut.
• 1:51
  He's in the leading position to be the next Prime Minister for
• 1:54
  the UK and he believes that the UK, like in the past, should be
• 1:57
  the global leader in crypto. Folks, it's happening.
• 2:01
  We're being left behind. There's a global boom in the
• 2:05
  trade in digital assets, in the use of stable coins to the usage
• 2:10
  and investment in whole forms of cryptocurrency.
• 2:14
  We've literally, literally turned our backs on it.
• 2:18
  Both the Bank of England and the FCA being guilty of this, the
• 2:21
  reason the City succeeded for hundreds of years is it
• 2:25
  innovative. It took risk.
• 2:27
  It saw what the future direction of markets and consumer and
• 2:31
  customer and commercial demand would be and we have done
• 2:35
  absolutely none of it. And frankly I believe it's a
• 2:38
  disaster. We should be leading the world.
• 2:41
  It's the British Revolution, a call to arms.
• 2:44
  With all of this excitement in Bitcoin and after the massive
• 2:47
  sell off, we should be seeing Bitcoin prices at 150K200K,
• 2:51
  right? That's what Tom Lee said.
• 2:53
  I mean, if I look at everything since October 10th, because that
• 2:56
  was the biggest liquidation in the history of crypto, like
• 2:59
  bigger than the. Margin call most.
• 3:01
  Yeah, it was like a almost a miniature rupture like a
• 3:05
  tsunami. We're only a couple weeks from
• 3:08
  that. So I think the market is
• 3:09
  consolidating. But if I look at fundamentals
• 3:12
  like let's like Ethereum stable coin volumes have been exploding
• 3:16
  application revenues at all time highs.
• 3:18
  So right now fundamentals are leading price in crypto.
• 3:21
  So I think eventually we consolidate and then we rally
• 3:23
  into your end. Yeah, I think we can still get
• 3:29
  to 152 hundred for Bitcoin and then something like 7000 for
• 3:32
  Ethereum. Well, what's happening since
• 3:34
  this clip was aired is actually a bit different.
• 3:37
  Bitcoin has been in a sustained downtrend since the beginning of
• 3:40
  October, selling off from 123 K and near all time highs to 103 K
• 3:45
  as of this recording, and people are in full on panic mode.
• 3:48
  Who's selling and why? The answer might shock you, but
• 3:51
  the analytics have confirmed what's actually been going on.
• 3:54
  It's been the long term hodlers, the Ogs, the whales, the people
• 3:58
  that got into Bitcoin in 2010, 2011, 2012, and they're selling
• 4:03
  their coins in mass and in mass as of recently as Bitcoin has
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  broken the barrier to all time highs from 69 K to 109 K to 126
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  K, You see these massive red walls of selling and that's from
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  long term hodlers, Bitcoin Ogs. In analytics terms, it's people
• 4:20
  who've held Bitcoin for 12 months or longer, but the
• 4:23
  volumes that we're seeing suggest I said it's not people
• 4:25
  who got in last year. Check Matey has this chart where
• 4:28
  he's showing the change in Bitcoin balances from the
• 4:30
  different parties, Bitcoin treasury companies, ETFs, long
• 4:33
  term hodlers, short term hodlers.
• 4:35
  And what you can see is that there's a major blip in the
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  realized cap change, meaning that this isn't coming from the
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  treasury companies or the ETFs, but from long term Ogs.
• 4:44
  The realized cap comes from a concept of price stamping, which
• 4:47
  means the UTX OS of Bitcoin are valued at the time that they're
• 4:50
  purchased and when they're traded or sold moved at some
• 4:53
  other time, it means that they're there's a net capital
• 4:56
  flow and when the coins are moved or traded, that means that
• 4:59
  there's a net capital outflow or a net capital inflow, a realized
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  lost or a realized gain. So if you bought one Bitcoin at
• 5:05
  10K and then you later sell it at 60K or it's moved to 60 K,
• 5:09
  then there's a realized cap of 50K.
• 5:11
  And this chart here shows that there's been a lot of people
• 5:14
  who've been in the green that are selling Bitcoin.
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  This red bar at the bottom shows a confidence bar.
• 5:19
  When you see the red underneath of the bar, it means that
• 5:21
  there's loss taking. People are panicking selling at
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  the bottom. When you see a lot of green
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  above this bar, what means that there's net profit taking or
• 5:29
  people who are in the green that are selling Spikes either way
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  indicate local bottoms and local tops.
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  And the orange section in this chart shows that the long term
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  hodlers and whales are taking billions in profit. 10s of
• 5:40
  billions in profit. Simply Bitcoin friend, artist,
• 5:43
  pilot and all around stud George Bodine talked about this in a
• 5:47
  conversation with Nico a few weeks ago that this is who they
• 5:50
  thought was selling Bitcoin and why we haven't seen a blow off
• 5:53
  top already. Prized, if you want the truth
• 5:56
  that we are where we are today. I've mentioned this before, I'll
• 6:00
  say it again. Between 58K and 93K we sold
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  1,000,000 coins out of long term holders.
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  People that are convicted, when you get past five months, that's
• 6:12
  glass nose cut off for long term holder.
• 6:16
  There is an algorithmic determination of what the
• 6:19
  likelihood of selling a Bitcoin is.
• 6:21
  It's very low and yet at the same time we had a million
• 6:24
  coins, 40,000 a day at one time. We've also over this rise up to
• 6:28
  about 117118K had a lot of other long term holders starting to
• 6:34
  sell into the market they have already into the one 20s.
• 6:38
  You know, the other thing is that thinking of that glass node
• 6:43
  was just putting out some research that I was reading
• 6:47
  maybe yesterday and it had to cover with the fact that between
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  about 115 to 117,000, we had tremendous turnover and coins
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  there a lot of new buyers stepping in and now that we're
• 7:01
  past 120 decisively that is actually flipped.
• 7:05
  So instead of resistance at that level, it's not like we're
• 7:08
  breaking through it. It basically is a floor and I
• 7:11
  think that it's on this side, this sell side pressure that
• 7:15
  we've seen, which has been like I said very strong.
• 7:19
  And yet regardless of that, whether it's Bitcoin treasury
• 7:23
  companies which have kind of fallen off a Cliff as far as
• 7:26
  demand or the ETFs or just demand through adoption or
• 7:31
  demand through corporate ledgers, we are seeing enough
• 7:36
  demand there that it's keeping our price point stabilized so
• 7:39
  that we're doing these stair steps.
• 7:41
  In fact, you could look at 2025 and it's just basically a, just
• 7:45
  a slow chop to a higher value. That's the best kind of market
• 7:50
  you want to see. I mean, that is what is going to
• 7:52
  carry us into a much higher price point.
• 7:56
  What he says at the end is absolutely true.
• 7:58
  What you see at Bitcoin is that there's always a sustained
• 8:01
  demand, a sustained new buyer. And we're seeing that in the
• 8:03
  form of treasury companies. We're seeing that in the form of
• 8:06
  countries. We're seeing that in the form of
• 8:08
  new buyers in retail who haven't even joined this party yet, even
• 8:11
  though the price isn't where a lot of people thought it was
• 8:13
  going to be. I've always said that it's going
• 8:15
  to be between 140K and 160K this year, but those were just my
• 8:19
  personal thoughts. Other people have said 200K475K
• 8:23
  and so a lot of people are disappointed at where bitcoins
• 8:25
  price is relative to the expectations that they had going
• 8:28
  into the end of the year. However, if you bought Bitcoin
• 8:31
  at a dollar a coin or $10 a coin and it's now $100,000 a coin,
• 8:37
  well, some people want to do something different with
• 8:39
  Bitcoin, take some profits, buy their dream home that they
• 8:42
  always wanted, and some people are just outright bearish.
• 8:44
  They have the right to be bearish.
• 8:46
  People like Michael Berry from The Big Short are super bearish.
• 8:49
  He just put $80 billion in shorts on Palantir and NVIDIA as
• 8:53
  he believes that the market's about to crash and people aren't
• 8:56
  gambling like they used to, as the tourism number to Vegas are
• 8:59
  the lowest that they've been since the Great Financial
• 9:02
  crisis. There isn't a ton of optimism in
• 9:04
  the markets right now, and that's not just in Bitcoin, but
• 9:07
  there are still some of us that have a long term outlook and
• 9:09
  believe that we are just getting started in this Bitcoin journey.
• 9:12
  We're in the beginning of a major rotation happening
• 9:14
  globally. There's people smarter than me
• 9:16
  that believe that people like Larry Leopard, like Jack
• 9:19
  Mahler's, but we'll get to their clips after we thank our
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• 10:35
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• 10:37
  bitcoinway.com/simply Bitcoin. The world is slowly and slowly
• 10:42
  but surely moving towards Bitcoin.
• 10:44
  Things that's happened recently is that Wall Street has woken up
• 10:47
  to the what they call the monetary debasement trade.
• 10:49
  We've been talking about that for five or ten years.
• 10:50
  JP Morgan termed it the monetary debasement trade.
• 10:53
  Mohamed El Erian came out and spotted as if he'd been known it
• 10:55
  for the last five years. He's a bandwagon jumper.
• 10:58
  He's very late to the game. And JP Morgan, the guy who's CEO
• 11:01
  basically hated Bitcoin, thought it was Ponzi scheme.
• 11:04
  They've now decided to accept it as collateral.
• 11:06
  What's going on is Bitcoin is winning in all these different
• 11:09
  formats, but historically at government levels and above,
• 11:14
  gold been money for 5000 years and if there's a monetary
• 11:17
  debasement trade to be had, they're not quite ready for
• 11:20
  Bitcoin yet. They don't understand it,
• 11:21
  they're afraid of it. Quantum, all the FUD is still
• 11:24
  existent in a lot of mines and I deal with gold bugs 24/7 who
• 11:28
  can't get over the fact that it's money that's not physical.
• 11:31
  I'm like, money's always been a Ledger, but they can't get there
• 11:33
  and these guys are just doing what they've traditionally done
• 11:36
  and they're going to get to Bitcoin.
• 11:38
  They're just not ready yet. I think of them as pre evolved
• 11:40
  people, sub evolved people, and eventually they will evolve to
• 11:44
  the level that they know that Bitcoin is far superior to gold.
• 11:48
  But you know what? It's Churchill, right?
• 11:50
  Americans do the right thing after everything else.
• 11:51
  First we'll try gold and then they'll realize that's not going
• 11:53
  to work because the LBMA and all those guys create a lot of paper
• 11:56
  gold. Then they'll get the Bitcoin.
• 11:57
  They only know one thing, and that is we rotate out of
• 12:00
  equities into gold when we seek a fear trade.
• 12:03
  But Bitcoin is slowly replacing gold as the new monetary
• 12:07
  standard moving forward. It's superior than gold in every
• 12:09
  way. And the rest of the world
• 12:11
  doesn't understand, like Jack Mahler's, that the US has no
• 12:14
  option but to print. The economy is fake, and the
• 12:17
  system is propped up by debt. By virtue of the fact that we
• 12:20
  are the global reserve currency issuer, it means that we need to
• 12:23
  run on deficits. It's only a matter of time
• 12:26
  before the US begins to buy the hardest currency in the world,
• 12:29
  which is Bitcoin. I think the next big step would
• 12:33
  be if a government that has the ability to print and debase and
• 12:38
  uses a central bank to manipulate and control and
• 12:42
  influence the time, energy, effort and labor of the populace
• 12:45
  and of society. If, if a government that has
• 12:49
  that power is able to buy Bitcoin and acknowledge it, not
• 12:53
  even the legal tender part, just acknowledge it, own it and
• 12:59
  validate it, that would be huge deal.
• 13:02
  And I actually think the United States of America is probably in
• 13:07
  the best position to do that. And where I think they're the
• 13:10
  most likely candidate because they have the world reserve
• 13:13
  currency. Like the US is like, like we
• 13:18
  just issued debt. Like we're, you know, being
• 13:20
  part, being the world reserve currency implies that we run
• 13:24
  these massive deficits and we issue all of this debt, right?
• 13:26
  And so we are the most incentivized to actually start
• 13:31
  backing our future promises with something real.
• 13:34
  So I told, you know, my chief of staff is somewhere in the
• 13:38
  audience. I told him, like after El
• 13:40
  Salvador, people would ask me, you know, what's the next?
• 13:43
  Is it, you know, Guatemala, Argentina, everyone was like
• 13:46
  looking on a map, looking through Latin America.
• 13:49
  I said, you know, it might be the United States.
• 13:51
  Bitcoins very American. And the United States in theory
• 13:56
  is technology innovation, inclusion, equality.
• 14:00
  Every node on the network is treated equal.
• 14:02
  You can come and and go as you please.
• 14:04
  So maybe I'm manifesting a little bit.
• 14:07
  Maybe this is less of a prediction, more of a hope.
• 14:10
  But I think that would be a really big deal.
• 14:12
  And as big of a deal as El Salvador was.
• 14:14
  The next step would be a government that actually can
• 14:18
  print their money and debase the populace through money printing.
• 14:22
  If they were to say this Bitcoin thing's legit and we should have
• 14:25
  some, I think that'd be massive. This is the long term game.
• 14:30
  I honestly don't look at price other than to create videos like
• 14:33
  this. If nothing is fundamentally
• 14:35
  changed about the thesis in the world, the global debt problem
• 14:38
  that we have, the manipulation happening by central banks to
• 14:41
  debase our time and our value, well then my thesis on Bitcoin
• 14:45
  still hasn't changed. It will be a long term winner in
• 14:48
  this process. It's all a matter of whether we
• 14:50
  have the patience to execute on this sort of trade.
• 14:53
  And like the Ogs and the hobblers who held Bitcoin for
• 14:55
  10-15 years, who are now selling well, will we be the the people
• 14:59
  that are holding Bitcoin till 20352040?
• 15:02
  Will we be the people that never sell?
• 15:04
  Keep it simple. Keep it simply Simply Bitcoin.
• 15:07
  And if you haven't already done so, subscribe to the channel.
• 15:10
  And if you haven't already got your tickets, well, look bro,
• 15:12
  your plane tickets probably going to be too much because the
• 15:15
  mining Disrupt conference is happening in a week.
• 15:18
  It's happening down in Dallas, TX from November 11th through
• 15:20
  November 13th. The simply crew is going to be
• 15:22
  there. And we wonder if you're going to
• 15:24
  be there too. But just in case you might still
• 15:26
  be getting your ticket and you haven't done so because you're a
• 15:28
  procrastinator, use the promo code Simply Bitcoin for 20% off
• 15:32
  your tickets. This is Dante Cook with Bitcoin.
• 15:34
  Simply Happy stacking.