Preparing For a BEAR Market!! Complete 101 Guide!! 🐻

Summary

The video discusses the uncertainty surrounding the crypto market, questioning whether a bear market is imminent or if the bull market is poised for a resurgence. It explains market cycles, the impact of human emotions, and macro factors like the debt cycle on asset prices. The presenter, Guy, predicts a potential bear market in mid-2022, influenced by the four-year crypto cycle and the bitcoin halving event. He outlines three bear market scenarios and offers strategies for preparation, including dollar-cost averaging and cautious market entry. The video is educational and not financial advice, encouraging viewers to consult professionals for personalized guidance.

Takeaways

• 📉 The crypto market has been moving sideways since mid-May, with uncertainty about whether a bear market is imminent or if the bull market will rebound to new highs.
• 📚 A bear market is part of the natural market cycle for assets and is characterized by a sustained long-term downtrend in price.
• 🧐 Human psychology and emotions like fear and greed are fundamental drivers of asset price fluctuations, affecting both fiat currencies and cryptocurrencies.
• 🚀 Cryptocurrencies are highly volatile due to the uncertainty about their true value and the potential they have to revolutionize financial systems.
• 🔗 Macro factors, including the debt cycle, have a significant impact on asset markets over the long term, influencing both bull and bear markets.
• 🌐 The cryptocurrency market has shown a correlation with the stock market, suggesting that bear markets in these markets may occur concurrently.
• 🔮 Predicting the exact timing and severity of a bear market is challenging, but historical patterns and economic indicators can provide some insights.
• 💡 Dollar-cost averaging is recommended for long-term investors in crypto, as it reduces the risk associated with market timing.
• 🛑 In a hyperinflation scenario, the value of cryptocurrencies in fiat terms may increase, but their purchasing power could decrease, affecting their utility as a store of wealth.
• 🌍 A potential global depression could lead to a prolonged bear market in cryptocurrencies, emphasizing the importance of being prepared for various economic scenarios.
• 📈 Despite the risks of a bear market, cryptocurrencies have seen enough adoption to likely survive and may present opportunities for investors with a long-term perspective.

Q & A

What is the current sentiment in the crypto market according to the video?

The video suggests that there is uncertainty in the crypto market, with some believing we are on the brink of a bear market, while others think the bull market might recover and reach new highs.

What is the general pattern of asset market cycles as described in the video?

The video describes a market cycle that includes periods of booms and busts, influenced by human psychology and emotions such as fear and greed, which cause prices to fluctuate.

Why are cryptocurrencies considered more volatile than fiat currencies?

Cryptocurrencies are more volatile because their value is not as clearly defined and understood as fiat currencies, leading to larger fluctuations in price due to speculation and mixed perceptions about their worth.

What is the role of the debt cycle in influencing asset market trends?

The debt cycle, as explained by Ray Dalio, is a significant macro factor that influences market trends. It consists of short-term and long-term cycles, where borrowing leads to economic growth and bull markets, while debt repayment leads to spending reductions and bear markets.

How does the cryptocurrency market's four-year cycle relate to Bitcoin halving?

The cryptocurrency market follows a four-year cycle that correlates with Bitcoin halving, which occurs every four years. This event reduces the amount of newly mined BTC by 50%, leading to a reduction in supply and typically an increase in price.

What are the potential bear market scenarios for cryptocurrencies discussed in the video?

The video discusses three potential bear market scenarios: a regular bear market, a hyperinflation bear market, and a depression bear market, each with different impacts on the value and utility of cryptocurrencies.

How can one prepare for a regular cryptocurrency bear market according to the video?

The video suggests that long-term investors should consider holding their positions and using dollar-cost averaging to add to their holdings during a regular bear market.

What is the concept of 'bull traps' in the context of cryptocurrency markets?

Bull traps refer to short-term price spikes that may give the false impression of a market recovery, only for the prices to continue their downward trend. Filtering out bull traps can be achieved by observing the market on a monthly scale to identify true trend reversals.

What is the potential impact of hyperinflation on cryptocurrencies?

In a hyperinflation scenario, while the nominal value of cryptocurrencies might increase, their purchasing power could decrease. People may not use them as mediums of exchange if they are hoarded as stores of wealth.

How might a global depression affect the cryptocurrency market?

A global depression could lead to a prolonged bear market for cryptocurrencies, as people tend to focus on acquiring essentials for survival and items that provide relief, which cryptocurrencies do not typically offer.

What are some of the assets that tend to hold their value during a depression according to the video?

The video mentions that during a depression, assets such as shelter, energy, clothing, food, water, alcohol, cigarettes made of various plants, news media, and entertainment like movies and TV tend to hold their value.

What is the speaker's personal stance on holding Bitcoin through different bear market scenarios?

The speaker expresses a personal commitment to holding onto their Bitcoin regardless of the bear market scenario, suggesting a belief in its long-term value.

Outlines

00:00

🐻 Crypto Bear Market Speculations and Market Cycles

The paragraph discusses the uncertainty surrounding the current state of the crypto market, with some suggesting a bear market is imminent while others believe the bull market may still surge. The speaker emphasizes the importance of understanding market cycles and the psychological factors that drive asset prices, such as fear and greed. They introduce the concept of the 'Wall Street Cheat Sheet' to illustrate the typical pattern of market cycles, and highlight the extreme volatility of cryptocurrencies compared to traditional assets. The paragraph also touches on the various perspectives on the value of cryptocurrencies and the influence of macroeconomic factors like the debt cycle on market trends.

05:01

📈 Crypto Market Cycles and Economic Correlations

This section delves into the relationship between the debt cycle and market cycles, explaining how borrowing and spending can lead to bull markets, while debt repayment leads to bear markets. The speaker draws parallels between the historical cycles of the stock market and the emerging patterns in the cryptocurrency market, suggesting a correlation between the two. They also discuss the impact of institutional exposure on the crypto market since 2017 and predict that the next bear market for cryptocurrencies may align with the stock market's cycle, potentially occurring around mid-2022, based on the four-year cycle influenced by Bitcoin halving events.

10:02

💸 Preparing for Different Crypto Bear Market Scenarios

The speaker outlines potential scenarios for the upcoming crypto bear market, including a regular bear market, a hyperinflation bear market, and a depression bear market. They advise long-term investors to consider dollar-cost averaging and caution against trying to time the market. For those looking to trade, the speaker recommends using monthly charts to identify trend reversals and avoid 'bull traps.' The paragraph also discusses the complexities of valuing cryptocurrencies during periods of hyperinflation and the potential for a prolonged depression-like scenario, suggesting that cryptocurrencies may not serve as effective stores of value in such conditions.

15:03

🌐 Global Economic Factors and Crypto Market Outlook

In this paragraph, the speaker considers the broader economic factors that could influence the crypto market, such as the possibility of a global depression and the role of central bank digital currencies (CBDCs). They suggest that while cryptocurrencies have been adopted widely enough to survive various bear market scenarios, a hyperinflation bear market could be a strategic move for governments to transition to CBDCs. The speaker also expresses their personal strategy for navigating the bear market, emphasizing the importance of holding onto Bitcoin and being prepared for any scenario. They conclude by encouraging viewers to stay informed and engaged with the crypto market through various social media platforms and newsletters.

Keywords

💡Crypto Bear Market

A crypto bear market refers to a period of declining prices in the cryptocurrency market, often characterized by investor pessimism and low market confidence. In the video, the concept is discussed in the context of market cycles and the potential for a bear market to occur in the future. The script mentions that while the bear market might not be here yet, it is on the horizon, indicating a need for preparedness.

💡Market Cycles

Market cycles are the natural fluctuations in the value of assets over time, typically involving periods of growth (bull markets) and decline (bear markets). The video script discusses the market cycles of cryptocurrencies, suggesting that each asset has its own cycle of booms and busts, which is crucial for understanding the broader economic trends that affect crypto valuations.

💡Human Psychology

Human psychology in the context of the video refers to the emotional factors such as fear and greed that influence the behavior of investors and, consequently, the short-term price movements of assets, including cryptocurrencies. The script highlights how these emotions play a significant role in market volatility and the fluctuation of asset prices.

💡Debt Cycle

The debt cycle is a macroeconomic concept that describes the pattern of borrowing and lending that influences economic activity over time. The video mentions Ray Dalio's explanation of the debt cycle, which includes both short-term and long-term phases, and how it impacts the overall health and direction of financial markets, including the potential for a bear market in cryptocurrencies.

💡Bitcoin Halving

Bitcoin halving is an event that occurs approximately every four years, reducing the reward for mining new blocks in half. The video script explains that this event is believed to influence the cryptocurrency market cycle, often leading to a bull market as supply decreases and demand remains steady or increases.

💡Dollar Cost Averaging

Dollar cost averaging (DCA) is an investment strategy where an investor consistently buys a fixed dollar amount of a particular asset, regardless of its price. The video suggests that DCA is a statistically successful long-term investment strategy in the context of preparing for a bear market, as it reduces the impact of volatility on the overall investment.

💡Hyperinflation

Hyperinflation refers to a rapid and out-of-control increase in the money supply, leading to a sharp devaluation of the currency and a significant rise in prices. The video discusses the potential for a hyperinflation bear market, where cryptocurrencies might increase in nominal terms but decrease in purchasing power, affecting how investors should value and trade them.

💡Depression Bear Market

A depression bear market is a severe and prolonged downturn in the economy that lasts for many years, often characterized by high unemployment and a decline in asset values. The script raises the possibility of the next crypto bear market being part of a global depression, which would have significant implications for investment strategies and market behavior.

💡Technical Analysis

Technical analysis is a method used by traders to forecast the future price movements of assets based on historical price data and chart patterns. The video mentions technical analysis in the context of trading cryptocurrencies, suggesting it as a tool for investors to learn and use to make informed decisions.

💡Central Bank Digital Currencies (CBDCs)

CBDCs are digital forms of a country's legal tender, issued and regulated by the country's central bank. The video script speculates on the potential transition to CBDCs as a response to devaluation of cash due to hyperinflation, and how this might affect the role and adoption of cryptocurrencies as alternative forms of currency.

💡Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, the purchasing power of currency is falling. The video discusses the impact of inflation on the valuation of cryptocurrencies, suggesting that while nominal prices may increase, the real value (purchasing power) of cryptocurrencies could be affected by broader economic trends.

Highlights

The crypto market has been moving sideways since mid-May, with uncertainty about whether a bear market is imminent or if the bull market will rebound to new highs.

A bear market is on the horizon for cryptocurrencies, but its exact timing remains unknown.

The importance of having a bullish bias in the current bull market, while also preparing for the inevitable bear market.

A disclaimer that the video is for educational and entertainment purposes only and not financial advice.

The Coin Bureau focuses on high-quality crypto content, minimizing hype and emphasizing the truth.

Cryptocurrency market cycles follow a pattern similar to the 'Wall Street Cheat Sheet', driven by human psychology and emotions.

Cryptocurrencies are highly volatile due to the uncertainty of their true value and the influence of human emotions.

Macro factors, such as the debt cycle, have a significant impact on asset markets in the long term.

Cryptocurrency market cycles show a correlation with the stock market, suggesting a potential bear market in mid-2022.

The cryptocurrency market follows a four-year cycle influenced by the Bitcoin halving event.

The possibility of a cryptocurrency market super cycle where cryptocurrencies replace the current financial system.

The potential for a hyperinflation bear market where cryptocurrencies' fiat value increases but purchasing power decreases.

Preparing for a regular bear market involves dollar-cost averaging and waiting for a clear trend reversal.

In a hyperinflation bear market, the focus should be on estimating cryptocurrencies' value relative to other needed assets.

The possibility of a depression bear market, which could last a decade and significantly impact the cryptocurrency market.

The importance of holding onto Bitcoin through various bear market scenarios, as a form of wealth preservation.

Transcripts

the crypto bear market is here

or at least that's what clickbait news

headlines

would have you believe it's no mystery

that the crypto market has been moving

sideways

since mid-may and sometimes it does feel

like we might be on the brink of another

big

crash that begins the bear market other

times

it seems like the bull market is about

to spring back to its feet

and sprint to new all-time highs it's

wise to have

a bullish bias in a bull market like

this one but the truth is that a bear

market

is somewhere on the horizon although the

bear market might not be here yet

it will come eventually but when how

will you know

when we're in a bear market how can you

prepare for it what even

is a bear market now if these are the

sorts of questions that have been

bouncing around your brain then this

video is

for you

i know you're eager to start but diving

in without a disclaimer wouldn't be

smart

you need to know that i can't help you

with your financial matters

this video is just for your education

and entertainment

so if you need help with your money then

please consult a financial planner

if this is your first time here my name

is guy and crypto

is my career the coin bureau is where i

create the highest quality crypto

content you'll find

anywhere on the internet coins tokens

news and reviews

i keep the hype to a minimum and focus

on the truth

as the saying goes knowledge is power so

if you want to increase your power level

subscribe to the channel and ping that

notification bell to make sure you get

this content on the hour

your time is priceless which is why i've

left timestamps in the video timeline

so you can see today's topic list feel

free to skip ahead if you see something

that catches your eye

remember though that watching the whole

way through will make it easier for

others to find

now that we're on the same page let's

get into the crypto market spare phase

every single asset has its own market

cycle of booms

and busts while each asset's market

cycle

tends to vary in length and volatility

all of them

follow a similar pattern to this famous

photo the so-called

wall street cheat sheet as the photo

suggests the fundamental

reason why the price of an asset goes up

and down in the short term

has to do with human psychology

specifically human emotions like

fear and greed this is why even fiat

currencies fluctuate in value

every day they're not really stable it's

just that the degree to which fiat

currencies fluctuate

is often small enough that they can be

considered stable

even then there's an entire foreign

exchange market where traders make

millions of dollars of percentage in

point changes or

pips in various fiat currencies that's

one hundredth of one percent now by

contrast

cryptocurrencies can change in value by

hundreds and sometimes

thousands of percentage points per day

this puts them

on the opposite end of the asset

volatility spectrum

the reason why cryptocurrencies are so

volatile is because nobody knows for

sure

what they're actually worth take a

cryptocurrency like ethereum for example

ethereum makes it possible to do things

like lend borrow

and save money without a middleman like

a bank and all you need

is an internet connection to access

these services

there's even something called a flash

loan that lets you borrow over 20

billion dollars of cryptocurrency for 15

seconds

with zero collateral and zero risk you

just need to pay a small network

fee now what kind of price tag do you

put on a technology like that

some would argue that cryptocurrencies

are worth more than all the money in the

world since they exist

to replace the financial system others

say

that cryptocurrencies should be worth at

least as much as their real world

equivalents

as they slowly take on similar roles in

certain regions of the world

a few still insist that cryptocurrencies

are nothing more than a ponzi scheme

and to be fair some cryptocurrencies are

nothing short of that these mixed

messages

result in mixed emotions for the average

trader who typically

buys and sells cryptocurrencies based on

how they feel

this is actually the basis of technical

analysis trading

and you can start learning about it by

watching my first

technical analysis tutorial using the

link up there

in the top right besides human emotions

there are also macro factors at play

which influence the ebb and flow of any

given asset market

these tend to have a much larger impact

in the long term

according to famous hedge fund manager

ray dalio the most

important macro market factor is

something called the debt cycle

this debt cycle is broken down into two

phases

a short-term debt cycle which lasts five

to eight years

and ends in a recession and a long-term

debt cycle which lasts 75 to 100 years

and ends in a depression i'll leave a

link to rey's own explanation of the

debt cycle in the video description if

you're interested but the tldr

is basically this borrowing money

creates economic growth

in the short term individuals typically

use borrowed money to buy more stuff

corporations use it to create more stuff

and governments use it to fund more

programs this creates a bull market for

most asset classes

a sustained long-term uptrend in price

higher highs lower lows all that fun

stuff

eventually that debt piles up and all

these individuals corporations and

governments need to start

paying off some of that debt this

requires a reduction

in spending this reduction in spending

means that individuals buy less stuff

corporations

make less stuff and governments cut back

on their

programs this creates a bear market for

most asset classes

a sustained long-term downtrend in price

lower lows lower highs definitely not

the fun stuff if you look at the price

history of a big stock market index like

the s p

500 you can clearly see this debt cycle

in action

from 1997 to 2002 from 2002 to 2009

from 2009 to 2016 and

from 2016 to whenever this cycle ends

note that i'm counting the end of each

cycle from the start of each bear market

not the bull market peak what's

interesting is that when you compare

cryptocurrencies previous market cycles

to the stock market you can see

a surprising degree of correlation in

other words

whenever the crypto market was reaching

its highs chances are the stock market

was doing something similar and vice

versa

now this makes sense because we live in

a globalized world where all assets are

linked in some way

even more so for cryptocurrency since

2017

when the institutions got exposure via

bitcoin's cme futures

case in point bitcoin hit its highest

correlation to the stock market

last year now why does this matter

well it means that the cryptocurrency

market will probably see its bear market

around the same time the stock market

does

the stock market's price history

suggests this will be sometime in mid

2022 and this happens to correspond to

what cryptocurrency's

own market cycle is signaling

as most of you will know by now the

cryptocurrency market follows a

four-year cycle that seems to be caused

by the bitcoin halving which

surprise surprise occurs every four

years

the halving reduces the amount of newly

mined btc

by 50 and this reduction in supply

coupled with a gradual increase in

demand means

btc goes up in price because almost

every cryptocurrency is correlated to

bitcoin

the rest of the market responds in kind

the last bitcoin halving took place in

may last year and

assuming history repeats itself this

means the top of this bull market will

happen sometime

this summer or in the early fall if you

want an in-depth video of how to spot

the top of this crypto market you can

watch my video about that

using the link up there in the top right

anyways after the crypto market top we

will see a big

crash and then about a year of gradual

price decline

until we hit the bottom of this current

cycle to clarify

this decline is the start of the bear

market and the bear market bottom

should be sometime in the summer or fall

of 2022

there are just two caveats here firstly

there is a chance that this

cryptocurrency bull market continues

indefinitely into the future

as all the cryptocurrency coins tokens

and technologies

swoop in to replace the current

financial system

this is called the cryptocurrency market

super cycle and even though it is

possible

it's not very plausible this is simply

because it's logistically impossible to

accomplish something like this

in such a short period of time the

adoption of cryptocurrencies

has been and will continue to be a

gradual process with lots of hurdles and

red tape

that said cryptocurrencies could see a

super cycle in fiat terms because of

hyperinflation

this is arguably more likely than an

adoption-driven super cycle

governments around the world have been

printing currency like mad

and the inflationary effects of this are

only just beginning to surface

the thing is that just because the

prices of bitcoin and ethereum are in

the hundreds of millions of dollars in

paper terms

it doesn't necessarily mean that the

purchasing power of btc or eth has gone

up

bitcoin and ethereum could technically

be in a bear market but still be

increasing

in nominal terms just because the value

of money is going down

due to inflation this inflationary

effect has probably played a role in the

so-called bubbles in housing stocks and

cryptocurrencies we're supposedly seeing

i'll leave a link to my video about

inflation in the video description if

you want to learn more about that and i

recommend you check it out when you get

a chance

the second caveat involves the

possibility that the next crypto bear

market will last

a lot longer than a year or two as i

mentioned earlier the long-term debt

cycle lasts between 75

and 100 years assuming this model is

correct

a depression could be around the corner

this is because the last depression took

place in the 1930s which was around

90 years ago some economists have argued

we are in a depression

already because of the pandemic others

insist

that the depression should have happened

in 2008 but the governments have managed

to keep kicking that can down the road

by printing money like mad a few even

believe

that there will never be a depression

again because of our magical

modern monetary policy when the

depression

inevitably happens history suggests that

it could last as long as a decade

again the next depression could be many

years away and there's no guarantee

it will happen but this is something you

need to keep in mind

when planning for the next crypto bear

market

on that note let's take a look at how

you can prepare

for these different bear market

scenarios

to quickly recap there are three

possible crypto bear market scenarios

a regular bear market a hyper inflation

bear market

and a depression bear market regarding a

regular bear market i'll start by saying

that if you're in crypto for the long

run you're better off huddling what you

have and adding to your position

on a regular basis this is called dollar

cost averaging

and it is statistically the most

successful

long-term investment strategy regardless

of the asset

if you're looking to ride the wave the

first thing you need to understand

is that it is extremely unlikely that

you will buy the absolute bottom

of the next bear market where that

bottom will be

is anyone's guess and my personal guess

is that the bear market bottom

will be somewhere in the 20 to 30k range

assuming we have

a regular bear market on the way down to

the bottom of the bear market we're

going to see a series of bull traps

this is where the price suddenly spikes

in the short term before continuing its

collapse

the easiest way to filter out these bull

traps is to set the price chart to

monthly

this will give you a better view of the

longer term price trend

in terms of entry what you'll be looking

for is a clear trend reversal

now using bitcoin's previous bear market

as an example this was around the six

thousand dollar mark in may 2019

note that i'm now on the weekly chart

while it would have been ideal to get in

at the 3 000

range there's no way of knowing if that

was really the bottom

and you'll be kicking yourself if you go

all in at that price

and it keeps dropping it's better to be

on the safe side

and wait for that reversal especially if

we're dealing

with the other two bear market scenarios

in a hyper inflation bear market the

price of cryptocurrencies will probably

go through the roof

but their purchasing power will decrease

this might sound surprising because it's

often said that assets like bitcoin and

gold

thrive under these inflationary

conditions apparently

this is not all that accurate a

financial youtuber called starpath

academy recently made a series of videos

about the value of precious metals

during the hyperinflationary period in

romania in the 1990s

at the time the annual inflation rate of

the romanian lay

was well over 100 percent and even went

over 200 percent for two straight years

gold and silver were not used as mediums

of exchange and this was primarily

because

most people didn't have any gold or

silver

those that did hold gold and silver

understood that precious metals are the

best way to store your wealth long term

so it was often the last thing they sold

this ties into something called

gresham's law which states that people

generally use the least valuable form of

money they have

to buy things with anyways the practical

effects of this precious metal hoarding

meant that whenever someone did sell

gold or silver

this meant they had nothing left to sell

the person buying could therefore offer

a much lower price than what the gold or

silver was really worth

because the seller was desperate now

this consequently crashed the value of

gold and silver relative to other assets

that were used as currency in romania at

the time

such as food livestock building

materials and tools

what this means is that if we enter some

sort of bear market hyperinflationary

period

the last thing you'll want to do is buy

or sell your cryptocurrencies

based on their fiat value instead you'll

have to do your best to estimate

how much value your cryptocurrencies

have relative to other assets

that you actually need or want and buy

and sell your crypto

based on that information by that point

i reckon you'll have bigger concerns

than buying the bear market bottom and

this will probably also be the case

with the third bear market scenario

if the next cryptocurrency bear market

ends up being part of a global

depression

it will make for an amazing dollar cost

averaging opportunity

assuming you have the funds to spare of

course the problem with spotting

depressions

is that you don't know you're in one

until much later

typically they start off like a regular

recession slash bear market

and that means a big old crash and lots

of lost

jobs although the crypto market hasn't

gone through a depression before

history suggests that it won't hold up

too well and the price

could continue to drop for years

this is because people tend to buy two

types of things

during depressions the things that they

need to survive

and things that take the edge off

cryptocurrencies don't fall into either

of these categories

the things that do fall into these

categories are shelter

energy clothing food water and

interestingly alcohol cigarettes made of

various plants

news media and even entertainment like

movies and tv

all the companies that provided these

much needed outlets during such

stressful

times fared pretty well during the great

depression and some of them

even managed to grow during this period

the only cryptocurrencies that could

potentially provide the same outlet are

those that power virtual worlds like

decentraland and those that are used in

esport

and video games like engine coin now

something tells me that people won't be

too eager to spend their limited funds

on some sort of in-game nfts

but i could totally see people gambling

their crypto in decentraland during the

next depression

you can learn more about decentraland by

watching my video about it

and you already know where to find that

link yes you do yeah well

top right if you forgot

the thought of a crypto bear market

might make you worry but it's a normal

and necessary part of every assets

market cycle

this is easy to forget when you're used

to seeing your favorite cryptos

consistently go up by double digits

on a weekly basis the last month of

choppy price action

might make you feel like the bear market

is here but the global

and crypto macro economic factors

suggest that this is not the case

assets are continuing to rally across

the board and even though there is

some volatility in the short term the

long term

upward trend continues what comes up

must come down though and 2022 seems to

be the year

when that decline begins the real

question

is how hard the next spare market will

be on cryptocurrencies

the good news is that cryptocurrencies

have seen enough adoption

that they are likely to survive every

type of bear market scenario on the

table

a regular bear market would be ideal but

i have a gut feeling that we might end

up with one of the more severe bear

market scenarios

i lean towards a hyperinflation bear

market because it would be a convenient

way

for governments around the world to

transition their populations

to central bank digital currencies

governments probably know they can't

convince their citizens to give up their

cash

but they can devalue it to the point

that people start looking

for alternative forms of currency you

could argue that cryptocurrencies would

fill this void but the fact of the

matter is

that there is no cryptocurrency on the

market today that is ready to become the

planet's payment network

now for what it's worth i'd much rather

have a dystopian cbdc than a world war

which seems to be what ended the last

depression

no matter what happens though i plan to

hold on to my bitcoin for dear life

with some luck i'll have enough stashed

away to deal with whatever bear market

scenario comes my way

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many thanks for watching and i'll see

you all next time

[Music]

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