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Best Strategy to Become a Bitcoin Millionaire in 2020

there's a good chance by the time you're
reading this we are back over 10k
youtubers and large twitter accounts are
losing their minds
telling people the price is going to 14k
within a few days
and it may well do just that but what if
it doesn't you see
the volatility is where the rubber meets
the road in crypto
i'm going to explain to you today why
the price of bitcoin
is going to 1 million but only the
strongest investors
will be able to ride it all the way
today
we're going to separate the weak from
the strong let's get it
[Music]
hello and welcome to bitboy crypto your
one stop shop
for all things related to bitcoin and
cryptocurrency
if this is your first time here please
make sure to read to the end
to take the conversation even further
then please make sure
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traders
to discuss trading strategies alright
guys today
we are going to be looking at bitcoin
heading to 1 million dollars
but this will not be a straight road my
goal today is to prepare you for what is
to come
when you envision a million dollar
bitcoin you are probably thinking
about the things you will be doing you
may be riding on a yacht
smoking a cigar you may be on the back
porch of your mansion bird watching
you may have even traded in your old
wife for a new one the worst
trade deal ever made and for some of you
you are finally going to be able to make
it out of your mom's basement
you see when we envision achieving our
goals
we simply look at the end the final
score
but there's so much in the middle that
has to occur
for us to get there and bitcoin is
volatile
back in february life was good for
bitcoin we were crushing 10k
heading toward 11k before getting sent
all the way back down to 3900 in a
matter of weeks
i saw people left and right giving up
there was anger
fear and disappointment and to be fair
that was an absolutely huge drop one of
the biggest we have
ever seen bitcoin is not immune to drops
and there is a good chance even if we go
up to 12k this week that
will return down to the seven thousands
after the happening
and i hope it doesn't happen i'm not one
of those guys who says
send it to 3k so i can buy more i'm
ready for moon
let's do this but if it does drop i'm
prepared
are you because while a drop from 11k to
4k sounds depressing
how are you going to handle a drop from
111k
to 40k how will you be able to stomach
that one
the strongest crypto investors have
hands of steel now
it doesn't mean that they don't trade
buy the bottom or sell the top
but it does mean that they do not panic
they view drops as opportunities the
whole bear market
where the price drop to 3k was an
opportunity for them
to accumulate more bitcoin and more
crypto at bargain basement prices
if you truly want to become a
millionaire one day then you need to put
yourself in that mindset if you bought
in during the crash in march
where bitcoin was less than five
thousand dollars
then you are feeling pretty great right
now but you have to remember
that your feelings are your enemy
financial markets are based
entirely on human psychology those
little red and green candles you see on
bitcoin charts are based upon human
behavior
technical analysis has nothing to do
with trying to figure out the
intrinsic value of an asset that's not
even a real thing
a piece of gold is only worth the
current value
based upon how much a human is willing
to pay for it
and obviously bitcoin prices are based
on the exact same thing
price movements are anchored by the
actions of humans
so technical analysis is charting human
behavior
the likelihood for the majority of
humans invested in an asset
to buy or sell based on previous
patterns the point here is
that the markets already know at what
times you are going
to want to fomo into an asset and when
you are going to want to panic sell
you have to use this to your advantage
and basically
counter trade your feelings when you
understand this
then you are much more likely to stay on
an even keel
and be a successful crypto investor
now we're about to talk about why one
million dollars
is in play for bitcoin in the next 24
months
but this first part was extremely
important
because you have to understand this
journey will not be easy
i want you to be prepared for it the
next two years may be the craziest time
period of your entire life and it can
set you up for the rest of your life if
you play it correctly
so let's take a look at this recent
thread by hedge fund investor
raul powell he shows that if you go by
the classic
charting techniques the estimated price
of bitcoin would be heading toward
40k great 40k enough to make you some
money but certainly not
enough to retire on however if we
examine
the logarithmic chart for bitcoin and
use the same classic
wedge charting technique suddenly we see
a potential for bitcoin to hit
1 million dollars the standard deviation
move would be for bitcoin to go
to 400 000 according to stock to flow
chart but the ceiling for potential
is much higher than that the moves
bitcoin has made in the last week
had broken us above key technical areas
crypto we call this a breakout and when
bitcoin breaks out
there's no telling how high it can go
we've looked at the infamous talk to
flowchart
several times it is the most accurate in
bitcoin history and it is now showing
increased potential when we have sudden
price moves before the having event
it increases the likelihood for higher
prices
in the months following the happening
but as we talked about earlier
there still is a strong possibility we
will see volatility
to the downside immediately following
the event
raul powell sums up this beautifully in
his last two tweets
of this thread he says this is one of
the best setups in any asset
class i've ever witnessed technical
fundamental
flow of funds and plumbing all now
again to be clear even if it has 90 odds
doesn't mean it's definitely going to
work and i can and will be
wrong often and dramatically good luck
expect horrific volatility both up and
down
but you can't make 5x 10x or 100x
returns without
large drawdowns so be careful how much
you put in
it always feels like you have too little
until it doesn't
and then you wish you didn't have so
much wow what
a summary i want to break this down into
two different points
the first is that the perfect storm
we've all been talking about for years
now
is here economies are collapsing dollars
are inflating
people are panicking this is what
bitcoin was built for
btc did not cause this but thank god we
have it during this time
the second point is to be prepared for
horrific volatility
he says you can expect up to 100x
returns if you play it right and ride
out the terrible downswings and i think
he's dead on here
sounds a little different when a hedge
fund manager is talking 100x with
bitcoin as opposed to a cartoon animal
on twitter
and powell is not alone recently paul
tudor jones another
huge wall street investor and
philanthropist has also jumped into
bitcoin
he is calling it the largest opportunity
since gold in the 1970s man
wouldn't you have liked to have been
able to buy a few ounces
in the 70s of the gold stuff of course
while many hippies were going to disco
clubs and getting high smoking weed
investors were making bank off of the
rise in gold
so the question is what do you want to
be remembered for
the opportunity to become an absolute
legend
is right in front of you at this current
moment but what are you gonna do
when you jump into bitcoin at 10k only
to see it drop back down to 7 000.
if you freak out and panic then the
opportunity will be missed
however if you develop strong hands
hands that will hold crypto even when
the prices drop
then you will have what it takes to make
it of course this
doesn't mean huddle from the top of the
market down to the bottom
in a bear market be smart read books
listen to traders
but most importantly learn your own
research methods and figure out
how to analyze the current market
conditions
it is extremely important to learn those
things
now because we're about to experience
bitcoin hysteria
again i can feel it coming i see new
people popping in the space
left and right but when the mania hits a
fever pitch
you're going to be absolutely euphoric
every waking moment
you are going to want to be checking
your portfolio
to see how much money you made since the
last time
that you checked it but that euphoria
will cloud your vision
and you won't be able to make
intelligent decisions
it will feel like it's going up forever
even if bitcoin hits 1 million dollars
it will likely drop down again one
million isn't an endpoint for this
volatile market use this time to learn
how to research
analyze and make sure to check your
emotions at the door
but now it's your turn do you believe
that the price of bitcoin can get to one
million dollars or
do you think this is all just a fantasy

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