Bitcoin BREAKS $9000!! And I'm still Buying BTC

Boxmining

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Bitcoin BREAKS above the $9000 Resistance. Huge movements in politics: US - China Trade War, HK Protests, Italy potentially leaving the EU - mean that we need a currency thats borderless and free from...

Bitcoin BREAKS above the $9000 Resistance. Huge movements in politics: US - China Trade War, HK Protests, Italy potentially leaving the EU - mean that we need a currency thats borderless and free from government !! I'm dollar cost buying Bitcoin. #Bitcoin #Cryptocurrency #BTC 👍🏻Subscribe to Boxmining: https://www.youtube.com/c/boxmining 🔒Hardware Wallet: http://boxmining.co/ledger 👍🏻Brave Browser: http://boxmining.co/brave 📲Enjin Wallet: http://boxmining.co/enjin 👍🏻Unstoppable Domain: http://boxmining.co/unstoppable 📲Binance Exchange : http://boxmining.co/binance ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Telegram groups (Discuss Crypto with us!) Telegram Discussion Group: https://t.me/boxminingChannel Telegram Announcements: https://t.me/boxminingChannel ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● ♨️Social (Add me on Social Media!) Instagram: https://www.instagram.com/boxmining/ Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining Steemit: https://steemit.com/@boxmining ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video. ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

AI Analysis

Hey there! So, Bitcoin just zoomed past the $9,000 mark, and that's got everyone buzzing. But it's not just about the price spike; the core message is why Bitcoin is becoming increasingly essential, especially with all the political craziness happening around the world. It's really pushing the idea that we need a borderless, permissionless currency that governments can't control.

Here’s a breakdown of why Bitcoin is such a big deal right now:

* Bitcoin's Price Surge and the "Over 9,000!" Moment: Bitcoin recently blew past the $9,000 resistance level, which is a big psychological and technical win. This surge sparked a lot of excitement, but the real focus is on the underlying reasons for continuing to buy, rather than just the price itself.
* Political Uncertainty Driving Demand for a Borderless Currency: There's a lot of global upheaval emphasizing the critical need for a currency free from government control.
* US-China Trade War: The ongoing trade dispute between the US and China creates immense uncertainty, making people question the stability of traditional currencies.
* Hong Kong Protests: The escalating protests in Hong Kong highlight how governments can impose restrictions on money movement, leading wealthy individuals to move their assets out of the region. This situation really stresses the need for a currency that isn't subject to such political whims.
* Italy and the EU Debt Crisis: Italy's struggles to pay off its debts to the European Union, with talks of a potential walkout from the EU, add another layer of instability to the global financial landscape.
* Bitcoin as the "Currency of Freedom": This is a huge point. Bitcoin is the first currency that doesn't require anyone's permission to send. You can literally pull out your phone, open your wallet, and send any amount—even a million dollars—to someone across the world, like Fred in China, without filling out forms, dealing with government regulations, or worrying about sanction lists. This freedom to spend and transfer value globally, without intervention, makes Bitcoin incredibly important. It's not just for buying pizza; it's about financial autonomy.
* The Irony of Tech in a Medieval City: It feels ironic discussing high-tech digital currency like Bitcoin while walking through a medieval city like Venice, which has no cars and relies on boats and manual labor. However, Venice was historically a major trade hub, and its prosperity was tied to its ability to trade freely between nations and control its own currency. This historical context underscores the long-standing human need for a political-free medium of exchange.
* Short-Term Volatility vs. Long-Term Value: People are always asking "When 10k?" but it's really tough to predict short-term price movements. The Bitcoin market is still relatively small, with a market cap in the billions, not trillions. This makes it susceptible to manipulation attempts, like the Bitstamp situation where people tried to crash the price with relatively small amounts of money (less than $100 million). So, trying to make short-term bets is risky due to this volatility.
* The Dollar-Cost Averaging (DCA) Strategy: To combat short-term volatility, the strategy of dollar-cost averaging is used. This means consistently buying Bitcoin over a set period, regardless of price fluctuations. For example, a six-month plan was set to buy as much Bitcoin as possible. This approach helps reduce the impact of price swings and is a long-term investment strategy based on the belief that Bitcoin is fundamentally valuable, regardless of daily ups and downs.
* Why Bitcoin, Not Other Cryptocurrencies (e.g., Facebook Global Coin): Bitcoin is specifically chosen over other cryptocurrencies because it's the most decentralized, has the longest track record of being safe, and has no single leader. The creator, Satoshi Nakamoto, is gone, meaning the network is truly run by its decentralized community. This makes it incredibly difficult for any government to "shut down" Bitcoin because there's no central entity to target. While other cryptocurrencies might be interesting "experiments" in extending blockchain technology, Bitcoin's decentralization gives it unparalleled value and resilience.
* Government Resistance and Its Limited Effectiveness: While there are alarming headlines, like India potentially proposing a law to jail people for holding Bitcoin (which is doubtful but believable because Bitcoin takes power away from governments) or Binance restricting new US customers, these attempts to control Bitcoin often fail.
* Lessons from China: China famously tried to ban Bitcoin exchanges and mining, but crypto has returned with full force. People simply find new ways to access it, like peer-to-peer (P2P) trading or using stablecoins like USDT as on-ramps.
* Uncontrollable Nature: The reality is that Bitcoin is something governments can't truly control. Despite regulations and bans, people will always find ways to use it if they see its value, making it an unstoppable force.

Transcript

So Bitcoin just blew past 9,000 so now it's time for some obligatory meme smashing time. Over 9,000! Over 9,000! Over 9,000! Over 9,000! Over 9,000! Alright beyond the memes I'm gonna tell you guys why I'm still buying Bitcoin today. That's actually really important because a lot of things have happening in politics which is changing and drastically affecting our understanding of why we need a borderless currency. And also I'm in Venice. This is an amazing city. They don't have any cars in the ...

So Bitcoin just blew past 9,000 so now it's time for some obligatory meme smashing time. Over 9,000! Over 9,000! Over 9,000! Over 9,000! Over 9,000! Alright beyond the memes I'm gonna tell you guys why I'm still buying Bitcoin today. That's actually really important because a lot of things have happening in politics which is changing and drastically affecting our understanding of why we need a borderless currency. And also I'm in Venice. This is an amazing city. They don't have any cars in the city. It's like a whole new world. They just have boats. And as always everything covered here is my opinion and my decisions. I'm not your financial advisor. First and foremost we got the bells of change. Those bells are signifying that crypto is coming. Okay, maybe not but that would be cool right? There's so much happening on a political scale these past few weeks in fact. First we had that whole trade war happening between US and China. Both sides trying to anticipate how the war is gonna progress and what's gonna happen next. And secondly we have those protests in Hong Kong. You've probably seen videos of that. It's getting really nasty. Personally I'm a little bit happy I'm not there but also I'm a little bit unhappy that I don't get to film and show you guys. And then we have Italy. So country I mean right now can't pay off their debts to the European Union. Stuff is potentially talking about a walkout of EU. All this political uncertainty means that there might be a lot of restrictions coming when it comes to money. When it comes to stored value. You see articles right now appearing where people are saying Oh yeah rich Hong Kong people are just taking their money out of Hong Kong. What if there's additional restrictions and laws on that in the future? Now this really stresses one thing which is Bitcoin you don't have that problem. You don't have a currency that's subjected to politics. That's kind of crazy if you think about it. It's the first time that we don't need anyone else's permission to send that currency. And we're gonna do that anywhere in the world. Say right now I can pull up my phone. Right now just pull that phone out. Open my wallet. And boom I can send a transaction to Fred all the way in China. And I can send any amount I want. I can send say even a million US dollars if I want to buy 1,000 miners off him. But that's completely possible. There's no limitation. There's no forms to fill in if I ever want to send that currency. There's no government regulation that's gonna stop me. There's no sanction list that's gonna search. All these things become very important because that's the freedom I have. The freedom to spend the value that I have. And I see all these new political kind of events and upheavals kind of drastically changing and affecting the way that we transfer value in the future. So that's why Bitcoin becomes really important. It's not just a way for us to buy pizza. Just oh yeah sure we can use that as a currency. Maybe a currency of the internet. But it's a currency of freedom. As corny as that sounds. It's the only currency that we can freely send around the world without any government intervention. Anyone can open a Bitcoin account and we can send and transfer Bitcoin to them. And it almost feels ironic that I'm talking about high tech Bitcoin digital currency in a medieval city like this. I mean that guy was just carrying suitcases off on a bridge. That's manual labor for you. But what is interesting I think is that this city used to be a trade hub. And they understand the power and why we need a currency that's free from politics. I mean politics messes a lot of things up. And the city prospered before when they kind of was allowed to trade freely between multiple nations. And have well bought their own currency. I mean the whole idea that Florence invented the merchants bank. It's kind of cool. Now the question on everyone's mind is when 10k. I think that was the first question I was asked. And it's actually extremely hard to say right now. Because just of what's happening on the market. If you saw the whole bitstamp situation where people try to manipulate Bitcoin's price. Just crash it down. These attempts are not illegal in this space. And they are effective. It takes only less than a hundred million dollars to drastically try to attempt a market attempt manipulation attempt like that. So short term is actually really hard to say. And that's why placing short term bets is very hard. Because as a asset class right now. The market cap of Bitcoin is so small. It doesn't even have a trillion dollar tag on it. It's still in the billions. So this is why we're still in this volatile state. Why am I buying now? It's because what I do right now is I dollar cost average. So I told you guys a little while ago. That in March that I have a six month plan. To buy in as much Bitcoin as I can. And it's all part of strategy. Because I determined that this is very valuable. Then I don't want to be subject to all these price variations. So even if it's going up. It's part of the plan. So very specifically I put Bitcoin in the title. That I'm buying Bitcoin. And not Facebook global coin. The reason why is that Bitcoin is the most decentralized. Of all the other cryptocurrencies. It has the longest track record of being safe. And it has no leader. I mean we've been trying to find out who is this. Satoshi Nakamoto. The inventor of Bitcoin. Bitcoin. But he's gone. It doesn't exist anymore. And now we run it. The network run it as a decentralized entity. So there's no one to really call upon. If something does. You know if the government wants to shut down Bitcoin. Who are they going to find? Who are they going to call? I mean this is one of the most important aspects. And why it has the most value. It doesn't mean the other cryptocurrencies. These other kind of experiments. And extending blockchain technology doesn't have value. But it's important to mark that Bitcoin. Even though it's the oldest one. Even though it's probably even the slowest one as of now. It has a lot of value to give. Because out of fact it's decentralized. This week we had our fair share of bad news as well. There's this thing circulating around saying. India might propose a new law to jail someone for 10 years. For holding Bitcoin. Whether it's true or not. It's doubtful. I actually had a few Instagram messages. Sent to me. Saying hey you know what. That's just bogus. It's the draft law super early. Not going to happen. But the fact that we might be. And it might be possible. The fact that it's believable. Is because that Bitcoin takes away power from the government. So we see something very similar happening as well. Binance is not accepting new US customers. And maybe stopping trade for it. Maybe they're you know kind of preparing for the launch of Binance USA. But regardless. There is going to be governments restricting the use of Bitcoin. Now am I concerned? Am I scared of that? Hell no. Look at what happened in China. We saw multiple reports that Bitcoin exchanges are banned. Chinese trying to ban Bitcoin mining. But crypto is returning. In kind of full force over there. There's so many people that realize that they need it. They just discover new ways to on-ramp. Peer to peer trading. Trading with other people who hold crypto. That's always an option. And it's becoming a. One of the biggest on-ramps too. And this is what I've been constantly talking about. That people are using USDT as an on-ramp. All these crazy exchanges are popping up in China. It's happening. Regardless of what the governments want. It's something that governments can't control. And as I walk up this bridge here. And continue on my adventures in Venice. I just want to tell you guys. Guys thank you guys so much for watching all my videos. And following me for all this time in YouTube. And as always smash up those likes. And click that little bell button. Next to the subscribe. If you're subscribed already. The reason being I've been researching a lot about the YouTube algorithm. And that subscription really helps this channel grow. And helps me make content that's more relevant for you as well. So make sure you do that. And guys just have a nice day.