what is going on guys Patrick here
bringing you a brand new video today
we’ve got another killer video for you
guys full of information I’m gonna be
talking about consensus and aetherium as
well as what is going on with the
Bitcoin or the cryptocurrency market and
why everything is down but guys before
we get started with that if you do want
to enter a chance to win some free
Bitcoin all you guys have to do is
number one be subscribe to the channel
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number two give this video a thumbs up
and number three leave a comment down
below saying something related to the
video now you leave as many comments as
you want and I will do my best to answer
every single one of them but let’s cover
a few pieces of news first before we go
and talk about the cryptocurrency market
which as you guys probably know or as
you guys can actually see by the bottom
right here they spoiled it though this
website spoiled it for us everything is
down again today with the exception of a
few but overall the market is down now
there is some good news but there also
is some bad news that we do have to talk
about when it comes to the market and
things that are dragging it down and
things are going to continue to hold the
market down and not allow the
cryptocurrency market to reach its full
potential but this is all gonna be
covered when we come to the market side
let’s to look at some news because there
is some good and some bad so first thing
first Jack Ma so the e-commerce giant
Alibaba founder Jack Ma says that
blockchain is not a bubble bitcoin is so
he said that he’s been researching
blockchain for years so we know
obviously someone of his of what he’s
done he is someone who’s a head of
technology he’s always looking at new
technology and he never counts things
out so it’s not a surprise to me to see
that he’s been a researching blockchain
for several years now but he thinks
Bitcoin is a bubble so he spoke out at
the second world intelligent conference
in town G I don’t know if I pronounce
that correct but still saying that
blockchain technology is not a bubble
but bitcoin is now we’ve actually talked
about this previously on the channel and
we’ve talked about Bitcoin being a
bubble and comparing it to the internet
bubble and whatnot now it does look like
we were in a bubble at the end of 2017
so it’s looking like the bubble has
burst if cryptocurrency has corrected
back down
if Bitcoin has crashed whatever you want
to call it things have gone back down
now it looks like we are trying to
recover from that now the reason things
turn into a bubble is because things up
people start getting in for the wrong
reasons people don’t get in for the
reason of actually understanding and
believing in the technology people get
in for the reason that they are being
sold a dream that is unrealistic the
dream of Lambos in one week basically is
what I’m talking about and again I’m
gonna cover all this in just a little
bit so bear with me because we do have
some piece of good news first because
you guys know I’m always positive on the
big on the cryptocurrency market this is
way we are way too early in this you
know revolution for me to start to panic
we are way too early in this and I’m
super happy and thankful to be part of
this new revolution that we are having
in in technology now I know a lot of you
guys are very worried about what’s going
on but guys think about it that way just
be happy to be in the position thankful
to be in the position you are in as an
early adopter because I think down the
road you are going to regret if you sell
and if you don’t you are going to be
very very happy now obviously I’m not a
financial advisor this is not financial
advice but I personally am going to be
holding as much cryptocurrency as I can
for the coming years guys years and I do
have long term plans with it which I
will talk about in another video what my
long term strategy is when it comes to
when I want to cash out what I want to
do with that money and so we could talk
about that later but today I do want to
talk about JP Morgan creates and fills a
new position of head of cryptocurrency
asset strategy yes so the leading US
Banking Group and financial services
firm JP Morgan Chase would you guys
remember originally the CEO said
terrible things about Bitcoin caused the
price to crash or earlier this year and
then later all of a sudden he got on
board with crypto with Bitcoin so I’m
not too sure where he stands and how
much he was trying to manipulate things
but that’s you know something we can’t
prove so not much talking about they’re
basically they’ve recently created and
filled the new position of a head of
crypto acid strategy this was reported
on today May 17th which was actually
yesterday so the article came out
yesterday so Oliver Harris who’s 29 year
old years
we’ll take the new rule that’s
relatively young they didn’t even ask me
for the job if you can believe that
terrible I would love I would love to
anyways reporting to the head of
blockchain development Umar Farouk
Harris will also lead JP Morgan’s
internal blockchain project quorum which
begin a which began testing by JP Morgan
Chase and the National Bank of Canada
last month either way this is showing a
positive and forward stance for crypto
currency and blockchain itself people
getting in JP Morgan filling a position
creating a position then filling a
position of head of crypto access strata
and crypto assets strategy showing
they’re taking this seriously and
they’re trying to elevate their game to
the next level as well because they do
see the potential in making a lot of
money in this market the next piece of
news I have for you guys is the first
new york-based
crypto trading company receives bent
license so Genesis global trading they
have been granted an 8-bit license from
the New York Department of Financial
Services so the DFS this was again
released yesterday on May 17th so after
the bit license became a requirement for
all of New York crypto trading firms in
August 2015 a wave of cryptocurrency
currencies left the state either unable
or unwilling to comply with the
stringent new regulatory requirements so
I don’t know if you guys watch the
documentary about Bitcoin on Netflix
banking on Bitcoin we actually saw
something we saw this happen when
companies left or cryptocurrency or
Bitcoin companies left New York due to
specific regulations that came out that
they could not comply with or they did
not want to comply with they left New
York so now it’s looking like things are
opening up again and they bomb this
company in Genesis global trading God
Kurt was the first one to be granted a
bit license for crypto trade so they get
excited to see the cryptocurrency moved
back into New York being such a huge
financial hub that New York is it would
be great to see more companies move into
here and create you know create a stance
here and create a solid position here
definitely something I’m very excited to
see now let’s talk about the crypto
currency market because I know a lot of
you guys are curious about this and my
stance on what’s going on so guys
everything is falling today if you look
at the last 24 hours
everything is red except for by Nance
coin so for those of you guys who have
picked up by Nance coin which I was
relatively bullish on um for a while now
I’ve been st. by Anna’s point is
undervalued it’s up 20% at a 21% today
so congratulations for those of you who
pick some up but that’s up to bigger Pro
thing because everything else is in the
red and I know a lot of people are
worried about things going down now guys
correction or crash whatever you want to
call this all I can say is take this as
an opportunity instead of panicking take
this as an opportunity to create the
portfolio you want to create you can get
all the get all the aquas you want to a
dollar cost average it don’t buy it all
at once if you buy all at once you are
stuck in a position where you don’t have
any Fiat to put in and you’re just
watching the price drop and although
that is fine if that’s how you want to
do it be ready for that to happen
because things could drop and you can’t
put any money into dollar cost average
then right or at least you shouldn’t if
you cannot afford to put in any other
any other money now if you guys do this
with a dollar cost average way which is
a method of putting in money every one
to two weeks put in a set amount every
ones two weeks and if it goes down you
are then buying in pieces on the way
down dollar cost averaging your your
investment basically so that when we do
get above that line you are making more
profit I’ve talked about dollar cost
averaging a lot on several videos
because I do think that’s probably the
best way to go about investing in
anything usually the stock market
cryptocurrency no different dollar cost
averaging is a good way to make the most
profit in the long especially when
things are going down now I don’t want
you guys to FOMO on anything a lot of
people wait for when the cryptocurrency
market to start mooning when the
currency market is mooning to for them
to start buying in and that’s not a good
strategy guys things are already up you
are minimizing your profits if that is
what you do now get not a financial
advisor just giving some good friendly
advice about what’s going on but now I
want to talk a little bit about
consensus because a lot of news has been
coming out and this
the issue I have with the cryptocurrency
market right now so at NYC is big crypto
conference the Lamborghinis are rented
and the protests are stage so the
protest they had the whole like the
whole banks against Bitcoin whatever
that was that was a staged protest and
if you guys can look at the pictures
right here
there are rented Lamborghinis that came
out so John nori he makes a living
renting out exotic cars for weddings
birthdays bachelorette parties and now
Bitcoin conferences today he stood
outside the Hilton Midtown hotel in
Manhattan guarding three Lamborghinis
bright orange navy blue and black that
Broadway supercars had rented two-bit
mechs for the day now guys this is the
problem with cryptocurrency now this is
trying to speed up a process that isn’t
a fast process what I mean to say by
that is that people should want to get
into cryptocurrency for the technology
people should want to get into it for
the adoption for the movement for the
revolution that’s going to happen that
is the reason people should want to get
into cryptocurrency people should not
want to get into cryptocurrency because
of a Lamborghini that is selling someone
an idea that once it doesn’t happen or
once they lose a little faith in that
idea they are going to sell and what
happens when they sell is we have days
like today or the last week when things
have been going down or even the last
few months when things have been going
down because dreams were sold of a
Lamborghini instead of actually
understanding or educating people on the
fundamentals that is the fundamentals of
cryptocurrency so I’m not a big fan of
the way things are happening in certain
ways we also there was a picture I don’t
know if you guys saw it of someone at
consensus wearing an $800,000 watch guys
it was a rashard mill I don’t know if
you guys know what that is I’m big on
watches so I I’m knew instantly when I
saw it it was over chard mill worth
$800,000 purchased when their crypto
gains now guys you don’t want to be
that’s not something you should be
striving towards when you invest
obviously that’s a great perk to have
it’s awesome if you can to one day
afford that
I hope one day I can afford a rashard
mill watch but for now it doesn’t make
sense for you us to sell people that
rather than educate people on the
fundamentals of cryptocurrency no that’s
just my opinion let me know what you
guys think in the comments down below
but also guys little plug right here
before we talk about aetherium I do want
to say if you guys want help creating
the perfect portfolio while things are
going down check out the link in the
description and in the comment section
it’s going to be called portfolio review
you and I can get on a call and we’re
gonna go over your portfolio build the
best strategy and I’m gonna get help you
and give you insight on some of these
small on all coins I’m looking at making
5 to 10 X gains in the coming year
now obviously I’m also coming out with
the cryptocurrency the all coin list
that I’m gonna make for you guys
available for you guys
22:25 all coins that I think are going
to do very very well throughout 2018
again 5 to 10 eggs throughout 2018 as
long as the market allows obviously but
these are some of my favorite picks I
think now is the perfect time to start
getting closer relations that should be
releasing in the coming days now is the
perfect time as the market is down to
start getting into these positions and
just watching them moon when the time
comes but I do want to talk about
aetherium today why am i talk about a
theory of 67 almost 68 billion dollar
market cap worth 681 dollars right now
we actually went to a high of 800 the
other day but it is down as the rest of
the market is ranked 2nd and overall
market cap sighs I’m sure you guys know
everything about it the area it is huge
but it theorem actually had some good
news come out the other day so it was
named the world’s best blockchain
network so it was on top of the pile
with a firm with a fast block condition
time and slow transaction fees sits
beautifully with 129 point four point
four total indexing a figure that 41.3
less than the Bitcoin total index score
so basically it cerium got voted as the
yeah they got voted as the best
blockchain Network which I thought was
really cool this was actually a list put
out by it
at home rep exactly who it was by
actually so I’m not gonna mention it it
was a list that was put out that ranked
crypto currencies and aetherium was
number one Bitcoin fell all the way down
to number fourteen obviously we know
Bitcoin has its share of issues but I do
think those are going to be corrected
over time so I think Bitcoin deserves
higher than being put number fourteen
but for all of you in theory and fans
that was very good signs I think
etherion is going to continue to do well
only reason I’m not you know as bullish
on it as I am on neo for example that is
because neo is still at such a small
fraction of the market cap that etherium
is that if it were to do anywhere close
to reaching neo in reaching a theory of
Earth neo were to do even half of
reaching etherium that is some insane
gains already that would instead that
would already be a 10x for neo which is
sided 3.7 billion dollars a theory I’m
saying that it could do a 10x it would
be at 37 a little bit over half of
aetherium is market cap and that would
be a 10x for neo so that’s why I’m so
bullish on Neil now let’s take a look at
technical analysis really quick so I
don’t want to make this video too long
and boring but there was a lot of
information a lot I had to talk about
still I’m super bullish on the crypto
currency market super bullish on Bitcoin
in the long term but I do think it’s
important to stop flashing watches and
Lamborghinis and associate that with
cryptocurrency I think we have to
fundamentally educate people on what is
going on and get people on board that
move but it might be a slower adoption
process but it is better than hyping
things up for Lamborghinis and when
people don’t get Lamborghinis they think
this whole thing is a scam and that is
why a lot of people have bad taste in
their mouth when they talk about
cryptocurrency but it looks like we did
break below the 50-day moving average
obviously not great now finding support
at the $8,000 mark hopefully we as you
see we have a wake down here because we
did bounce off trying to break below
that balance instantly above that so
it’s a good sign to see such a fast
bounce it’s still so early in the day
1008 and by the time you guys watch this
video who knows why where the market is
going to be but guys like I said I
wouldn’t panic this is a long-term game
if you understand what you are doing if
you are here just for
Lamborghinis then you know what now
probably isn’t a good time to sell
either as I do think the markets going
to crack but try to fundamentally
educate yourself on what cryptocurrency
is and what the blockchain is and what
it is trying to do what bitcoin is
trying to do what each project you are
investing in is trying to do I highly
recommend doing that so you have a
better understanding and you are more
and you’re more confident in your
investment but guys that’s gonna be it
for this video hopefully you guys did
enjoy this video if you did don’t forget
leave a thumbs up and leave a comment
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you so much for watching
I’ll see you guys tomorrow for another


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