Bitcoin to the housing market bubble of the dot-com bubble and I'm gonna talk about why those two things are very different than the Bitcoin bubble that's going on right now so stay tuned what's going on guys Patrick here I wanted to talk about Bitcoin this morning because I keep seeing the same videos over and over all online people talking about how Bitcoin is a bubble and how it's going to pop any single moment I do agree that a Bitcoin has been on an insane run there's a lot of FOMO there's a lot of emotions right now people trying to buy Bitcoin they don't care what price they buy that they want to buy it and you can see this year alone it's up there from the eight hundred dollar area of 7900 as the high this year so pretty insane move for one year I wanted to make this video talking about why I think the Bitcoin situation that we're in right now is much different than the dot-com bubble and the housing crisis bubble and there's a very very big difference and I don't know why people don't talk about this but they just talk about how the dot-com bubble went crazy and then it burst how the housing market went crazy and it burst one of the very very big differences behind the whole Bitcoin run right now is that the banks are not involved at least the bigger banks the bigger firms are not involved a Bitcoin they might be buying it in some different ways or they might be trading it but they're not involved they're not manipulating the price so this is the Nasdaq chart showing the dot-com bubble back there in 2000 showing the pullback if you look here obviously you know this thing ran up huge any company that had a dot-com name this is when the internet first came out that's what everyone thought that the internet was going to be the biggest and best thing ever for any kind of company that had a dot-com piece literally every single company that went public during the dot-com bubble went up huge some of these companies went up five hundred seven hundred percent in the first day when they IPO and a lot of times they end up crashing one of the big differences between the dot-com bubble and the Bitcoin situation Iran right now is that the dot-com bubble was orchestrated by the banks and when I say that I'm not a conspiracy theorist I'm not someone do something here all day long I'm like all the conspiracies there's so many conspiracies out there this is the fact that the big banks that the big brokerages all were dipping their hands in the honeypot and what I mean by that is they were all working with these companies they were IP owing all of these companies at the time they were creating very very exaggerated prices exaggerated outlooks basically any company that added acom to their name was worth billions overnight and the banks were a part of that the banks were selling all these IPOs to all other customers and everybody was trying to get rich but the source of the huge price increase was really caused by the banks the banks were the leading factor they were basically pushing these crap companies on all of the people out there all of the unexpected people telling people buy buy buy anything with a dot-com buy it cause it's gonna go up huge all these big banks were a part of the IPOs and they were pushing it and they were pushing it and the people were buying into it because we're thinking hate my bank is telling me to buy hey my brokerage is telling me to buy why wouldn't I buy these are trusted financial people they know what they're talking about but at the end of the day all the bank's cared about was selling these IPOs and they didn't care what they had to do they made up evaluations they pumped it they pumped it this was literally a massive pump and dump caused by the banks and everyone's gonna be like what is he talking about how how could the banks have done this well the banks did it is fact the banks were the ones who were behind the dot-com bubble and like I said I'm not trying to be a conspiracy theorist I'm not but I've done the research I've seen all the facts and the banks were really the ones who caused the dot-com bubble the brokerages the big firms we're pushing out these dot-com IPOs and causing this mass FOMO hysteria of people wanting to buy dot-com companies so that's the dot-com bubble you can see big huge crazy move it pulled right back bitcoins already experienced kind of a crazy move back 2014 you can see Bitcoin made a big move there from the hundred dollar area up there 2008 pulled back and now we've had a pretty nice base for the last couple years at that four hundred dollar area kind of balance and balance announcement but this last year we've really really went crazy and you can see Bitcoin pretty impressive move here on Bitcoin one of the things I do like about Bitcoin right now is that we get these nice pops we get a nice pullback a nice pop get a nice pull back in an ice-pop ghetto guys pullback so overall you know looking at this chart it doesn't look like it's just a straight parabolic move there is support there is people buying these dips these dips happen it gets bought right back up it goes to all-time highs so you can see there is buying pressure there are people that want Bitcoin there are supporters a bit courting long term one of the things I really like about Bitcoin is like I said the banks are not issuing this the banks are not pumping this up this is not a bank orchestrated pump-and-dump like the dot-com bubble if you look at the housing market bubble same idea 2007 we had the housing market inflated once again why was it inflated so much because the banks making subprime loans putting out huge loans on houses that they knew had no value giving people mortgages that they knew didn't have the actual income to pay giving people adjustable rate mortgages that they knew would balloon over time and cause people to end up defaulting but all the bank's cared about was lining their pockets they were doing the credit default swaps they were doing anything and everything they could to get out before the bubble popped and they were doing it maliciously and they did it in plain sight so you can see calm bubble housing market both of these bubbles correlating with the bank's Bitcoin not correlating with the banks so there's the argument you can see right now literally in the last four or five years we're back to all-time highs looking at the overall market so you can see that dot-com bubble the same kind of chart and again this last four years the markets been going crazy we're at all-time highs every other day the market goes higher and higher and there's an argument to be made that were in a bubble right now once again in the stock market with these tech stocks like Facebook Amazon all these big stocks going up huge in the last year or so so really the question I ask is is Bitcoin and indicator showing people's skepticism in the overall market in the overall financial system so that's really the question we need be asking it's not the question that is Bitcoin a bubble but really is everything else a bubble in Bitcoin is reflecting that price that people are safe haven their money people are buying into Bitcoin obviously people are buying into Bitcoin with the idea they're gonna get rich that's always gonna be anything but I think there's a lot of people that are behind Bitcoin that are behind cryptocurrencies that really do see a future that really do see issues with the overall financial monetary system so they're thinking hey I want to safeguard some of my money I want to put this into Bitcoin see what happens and let this ride but if you look at the overall markets I would say the stock market right now is in a bubble if you look back at the housing crisis the dot-com bubble there's a very very clear correlation here that the bank's organ strated both of these big dumpin pumps and at the end of the day they came out ahead and everybody else suffered and that's what it comes down to the banks always come out ahead and the individuals that invested in these companies back in the dot-com the people that bought houses with insane interest rates all suffered where with Bitcoin at the end of the day it really comes down to the overall populace so people want to support Bitcoin if people see value a Bitcoin it's gonna be there it's not the bank's selling crappy companies to people it's people around the world all coming together behind this one type of monetary system and people are really believing in cryptocurrencies they see the value there so like anything that's new anything that's unexplored there's huge potential here with Bitcoin I would equate this to the idea of social media of the Internet am I gonna tell you that Bitcoin is 100% safe and there's nothing to worry about no I'm not gonna tell you that there obviously is always gonna be risk with any kind of investment of any kind of thing that you're doing but I do see the potential here with Bitcoin but I wanted to make it clear the people out there who keep making videos about how the dot-com bubble and the housing market bubble is the same thing as the Bitcoin bubble it's not let's get it straight let's talk about the real underlying factor here that caused these bubbles in the past