Bitcoin’s going to the moon. Everybody’s talking about Bitcoin. But when when should you buy? When should you buy Bitcoin? Talking about the key things, the rules behind investing in Bitcoin and how you should buy it when you should buy and all of that fun stuff talking about it right here in this video. Don’t be a sucker. Don’t be somebody who ends up buying the top and selling the bottom. Let’s talk about it right here in this video. So make sure you guys stay. To add. What’s going on, guys? Patrick here and today I want to dive in to the idea of investing in Bitcoin when you should be buying, when you should be selling and all of that fun stuff. Obviously, bitcoins made a drastic move recently from the four thousand dollar area up there to ten thousand dollars. The media has been talking about Bitcoin. Everybody has been talking about Bitcoin because of things that are coming up soon. You got the having. You’ve got the idea of the Fed printing and printing and printing. And this idea that maybe Bitcoin, maybe Bitcoin could be a asset to fight inflation. You also had a hedge fund. Was it Paul Tudor talking about Bitcoin as well? So the media is talking about it. CNBC is talking about it. Bitcoin is definitely going up in terms of Google searches. Everybody wants to know what’s happening with the bitcoin happening or the having or the happening, whatever you want to call it. So the one mistake that a lot of Bitcoin investors make is not the mistake of buying Bitcoin, but it’s the mistake of when they buy Bitcoin. So a lot of people that I know, they ended up just basically not talking about Bitcoin, not looking at Bitcoin for the past few months because they’d just nobody was talking about it. There was no foma. There was no hype other than Bitcoin crashing from nine thousand down there to 4000. Really, nobody cared about it. No one talked about it other than the idea of maybe Bitcoin does going to zero. But now all of a sudden, guess what? Back up there, the ten thousand dollar area and everybody’s like, well, maybe I should buy some big Koide. Maybe I should become a Bitcoin holder, wouldn’t it, at ten thousand dollars. Now that idea goes against so many principles of investing. Why would you buy something at ten thousand dollars when you could have bought it, what, a month ago, two months ago for half the price. Would you go out and would you buy a car today that costs fifty thousand dollars that you could have bought twenty five thousand dollars a month ago? Probably not. But the problem here is people get flomo. People get excited. People want to buy because they see bitcoin going higher and they’re like, who? I need to buy some of this cryptocurrency because maybe it goes to a million dollars tomorrow. But I’ll tell you one thing. I’ll tell you one thing and I’ll tell you one secret. If you get one idea, if you take one idea from this video, one simple premise, it’s never to buy Bitcoin on a Green Day. Now, I know that doesn’t make sense, because if you’re a new investor, you’re like, why would I want to buy something that’s crashing? Why would I want to buy something that’s going down in price? But you have to think like an investor. The old saying buy when everybody else is fearful and sell when everybody else is greedy. So this is a perfect example of that. Bitcoin went from 4000 to 10000 for everybody who bought it. Four thousand. Well, they’re like, hey, I’m up over a hundred percent. I’m taking a look at a profit. I’m not gonna be greedy here because I know one thing and I can tell you one thing that is a for sure thing. Is that at some point Bitcoin will pull back? And guess what, it pulled back. So Bitcoin was it last night or the night before or whatever? It went from ten thousand down here to eight thousand dollars. Now, I made a video recently here on YouTube talking about how I was buying Bitcoin at the four thousand. Then I made another video talking about how I was still long at the ten thousand dollar area. And I talked about it in the video. So I clearly said it. I clearly said that the eight thousand dollar area where that 200 day moving average is that blue line on the chart. That’s where Bitcoin needed to touch break. I think if Bitcoin can’t break over that ten thousand five hundred area, we’ll probably get a pullback back down there to the moving average would put us at a really nice spot, a really nice spot for a maybe another dip by I don’t know, maybe you got extra money. Maybe I’ll look to buy some more. Eight thousand dollar area. If we do kind of use that 200 day moving average and support, it needed a pullback. Everything that goes up needs a pullback. And now I feel really, really good about the idea that Bitcoin touched that 200 day moving average that. Does that mean that Bitcoin can’t go lower from here? No, no, it does not, because obviously when we look at a chart and we’re looking at the chart when it’s like this. Right. We’re looking at just this picture on the chart right now. It looks like, well, bitcoin is going higher and higher. Cool. But when we zoom out, guess what? It’s a different picture now. If I draw lines on this chart and I look at it like, OK, look, fourteen dollars in twelve dollars in ten feet, ten thousand five hundred. I can clearly see that we’re still in a downtrend, even though we hit 10000. We’re still in a downtrend. So there’s always a possibility that Bitcoin could go lower from here. And that’s one thing to always remember as a investor of bitcoin or cryptocurrency in general, is that there’s really no rhyme or reason. Sometimes sometimes Bitcoin does a one step pullback. It wants to crash back down. And that’s totally fine. But one thing that I’m noticing here with this chart, this is the Bitcoin daily Kandal chart. So the one thing that I’m noticing here, the pattern is look at this. All right. Back in two thousand and seventeen, Bitcoin went from nine hundred up there to twenty thousand dollars. Nineteen thousand dollars. And look at the 200 day moving average. Right. The 200 day moving average was just ramping up, ramping up, ramping up, ramping up. But look at this. Look at this. This is something like you don’t talk about this moving average goes up here. It pulls back. But what are we getting here? This moving average we’re getting? I’d say a higher low because the low on this moving average was down here a hundred all or area thousand dollars back until 17. And look at it there in 2019. The low that moving average was 4000. Now you see what I’m looking at here, right? You see what I’m looking at here. And if you go here, obviously, we had a kind of high. We had a lower high here on this little spike with this moving average. But if you look closely, guess what’s happening is moving average is starting to curl here, starting to start to ramp up a little bit, a little bit of a ramp up there. Don’t know if you guys can even see it because the computer doesn’t always show the lines so well. But that blue line there, there’s a blue line. Hopefully you guys can see it. There’s a blue line there. This pullback from the ninety six hundred all area pulled right back down there. It touched the 290 moving average. And look at it now, bouncing right back. So obviously. So obviously there was. So obviously, that’s a sign. That there were buyers sitting there at the eight thousand dollar area, that whole dollar area. Eight thousand two a day moving average. There’s a loss of going on there. Eight thousand dollars, the whole number. You’ve got the moving average there as well. A 200 day moving average. And if you go way, way, way, way, way, way back on Bitcoin, you can see I can’t even get away like that. But if you go way, way, way 2013, 2014, the moving average has always played a very key, key role in the price of Bitcoin. Right. Played a very key role, not just because it’s a magical line on the chart, but a lot of traders and people are watching those moving averages for either a place to buy a place to short or a place to accumulate accumulate. I like that word. So that’s what’s happening with Bitcoin. So back to my idea of when you should be investing, what you should be investing. First off, only invest money in Bitcoin that you are willing to lose. Right. You never want to invest money in Bitcoin that you are worried about. You need to pay your rent with or you need to gamble or anything like that. You need to only invest money in Bitcoin that you’re totally fine with losing. Because what that is going to allow you to do is is going to allow you to hold through volatility. It’s going to make your life much less stressful because you imagine putting a hundred thousand dollars into Bitcoin and only having a hundred thousand dollars in your bank account being like, well, here we go. Crossing my fingers. I’m buying a ten thousand. Hopefully it goes up. Well, now it pulls back. And guess what? You’re the first person to start selling. You’re the guy who buys the top and you sell the bottom. So only invest what you’re willing to lose. And that way, you’re going to be much safer and much more confident in the overall idea of investing a Bitcoin long term. Another thing you should really focus on, like I said earlier, is look for red days. Look for the pullback. Don’t be a sucker. Don’t be the guy who buys at the top and sells at the bottom. Look at this. All right. We go from we went from eight thousand down there to 4000. We bounce back. It is like, oh, man, I missed out. Right. I missed out on the move. It’s going higher again. But guess what? It pulls back here to the 5000. It goes to seven thousand sixty nine hundred area. Guess what? It pulls back again. It goes up again to seventy three hundred. Guess what? It pulls back again. It’s natural. Pullbacks are natural in any type of market. Cryptocurrency, stock market in general. The idea of me wanting to buy bitcoin when it’s up big on the day, like when bitcoin is up five or six percent on the day, why would I want to buy it? Why not wait for a pullback like today when Bitcoin pulls back 10, 20 percent? That’s what I’m talking about, baby. Give me a discount. Nobody wants to pay full price for anything. But for some reason, people really just want to go and buy Bitcoin when it’s up big. On the day I have friends up, call me. Look, man, this bitcoin is going higher. It’s up 10 percent on the day. I should buy some, right? No, no, no. Don’t do it. Don’t be an idiot, because that’s the same guy who’s going to end up selling it when it crashes down five percent. That’s what’s amazing here, is somebody is totally excited about buying Bitcoin when it’s up 10 percent on the day. But then as soon as Bitcoin pulls back, three percent go. It’s going down. I need to sell, sell, sell. And that’s why we get these big, drastic moves. The downside, you get the whales playing. We also get people who have stopped losses. People were buying your ten thousand. Well, guess what? They all put their stop losses here to ninety two hundred nine thousand dollars area. And that’s why we just walked right through there. And the smart buyers, the educated buyers, people who are smart about trading Bitcoin. Guess where they’re sitting that they’re sitting there the 200 day moving average. So if you guys aren’t looking at the chart, you don’t really have any idea. Technical analysis. You don’t need to be an expert here. You just need to pull up a chart. You know, trading view, dot com. There’s a million charts. Everybody has ideas on there. You can read about ideas. You can look at the charts. You can see what’s going on. You can see where the Tuesday moving averages. You can see all this stuff. So ask yourself. The next time you really want to buy Bitcoin, look at the chart. Look at the price action. Is Bitcoin up big on the day? Is it up 10 percent on the day? Is it green, green, green? When’s the last time Bitcoin pulled back? Like this move here. It went from eight eight. Six hundred up there. Ten thousand did I do I really want to be buying. You know, if I’m investing a bitcoin long term. If you’re trading Bitcoin, is there a story? If you’re trading bitcoin, you’re, you know, in and out Daytripper style. It’s their story. But if you’re investing a Bitcoin long term and you’re like, I want to buy I want to buy my buyer, I want to buy right here. No, no, no, don’t do it. Listen to me. Please listen to me here. Buy the dip. Sell the rip. Buy the dip. Sell the rip. So there it is. The number one rule about buying Bitcoin is buying the dip, selling the rip. What’s going on? Bitcoin pulls back to the eight thousand dollar area. That 200 day moving average, just like I talked about in the last video, that a hundred or a thousand dollar area. There it is. We got it. It nailed it. It hit it perfectly. Now, like I said, is that to say that Bitcoin can’t go lower from here? No, no, no, it does not. But for me, my whole goal is to basically put 10 to 20 percent of my net worth whatever extra cash that I have instead of buying ease’s instead of buying a Rolex, instead of buying some designer’s clothing. I won’t be totally fine with not only a Rolex not having uses. And instead, I’m going to own Bitcoin so that ten thousand dollars that I could buy a Rolex. Well, guess what? Daddy’s buying ten thousand dollars worth of bitcoins. Maybe it goes to zero. Maybe. But let’s be honest. If I bought a Rolex for ten thousand dollars, what does that Rolex do for me? Maybe it holds value. Maybe I’m investing in my Rolex long term. But in general, what does that really doing for me? So my plan my goal, like I always say, is investing money into Bitcoin that I’m totally fine with losing because I would not have that money if I bought something else instead of buying, you know. I guess I don’t really. I really don’t buy that many things that are totally useless, so I can’t have a good example. But if you’re out there and you’re buying Jeezy’s, you’re buying this stupid crap. Well, maybe you should think about investing that money, even not in Bitcoin. Invest that money in the stock market, invest it some other places. Don’t be the fool. Don’t be the consumer in the world. That’s what comes out there. Don’t be a consumer. Be an investor. So there it is, bitcoin. We talked about it. Eight thousand dollar area getting touched. Nailing it. Ding, ding, ding, ding, ding. We’re on a roll. If you guys have already do me a big favor. Hit that like button subscribe. Button all the buttons down below. I’ll talk to you guys later on.


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