Welcome back everybody to alt coin daily where we bring you daily videos on everything going on with Bitcoin and cryptocurrency on a daily basis. Let me set this up. There is a serious unprecedented pandemic that is sweeping the world right now. Cities are being shut down. Countries are being locked down. Nobody expected this. Nobody planned for this. Very few people have any clue how this is going to affect the world going forward. I’m talking about the short term in the coming days and weeks and talking about the long term in the coming months and years. And I am not trying to be a doom and gloom or I am not. But the reality is this could change life as we know it similar to how 9/11 changed life as we know it. There was before and there was after. This is called a black swan event. A black swan event is an unpredictable event that is beyond what is normally expected in a situation and has potentially severe consequences. Black Swan events are characterised by their extreme rarity their severe impact in the widespread insistence that they were obvious in hindsight. I’ll be honest with you guys all bets are off. I’m concerned how this is going to affect bitcoin‘s price going forward. In my mind there are two possible outcomes. So number one the first potential future that I see in this is the bearish scenario. The first potential future that I see is that it is possible because of this black swan event that we continue to see Bitcoin fall lower unfortunately. This could be a slow arduous process it could fall lower. It could stay lower and then every hopeful rally every time it rallies up. It could be matched with the glass ceiling where the price falls back down. Consolidating at a level that nobody thought was probable in this scenario the market structure that bitcoin has sustained for the past eight years would be lost. And if that were to be the case we would actually see what many people have felt that we have not seen with this current cycle. Specifically the 2018 2019 bear market. That being the maximum amount of pain a lot of people think we have not seen the maximum amount of pain that usually comes with bear markets. So what I’m talking about is a scenario where even the most bullish people among us lose faith in bitcoin. I’m talking about people who you would never think would would sell or capitulates but they end up selling or capitulating near the bottom. I’m talking about people like Mike Novogratz like Justin son like Russell lo Kong like William Shatner. I’m talking about people who understand cryptocurrency have been vocal about it but they just get so disheartened that they sell anyway and I know that’s something that people don’t want to hear. I know that’s not a popular opinion but because of this pandemic we have to consider that as a possibility this could break the market structure and we could end up huddling a lot longer than we thought. Number two the second potential future that I see and this is the more bullish scenario. Is that it is possible that Bitcoin while everybody thinks that bitcoin is going to go lower. Bitcoin does the opposite and actually bounces back to seven eight nine ten thousand dollars maybe even go higher than that and this could happen within weeks. This could happen after a few months. We don’t know this would be caused by the whales and institutions filling their bags at these prices and rather than the cryptocurrency market experiencing the maximum amount of pain it would experience the maximum amount of frustration where certain people once again miss out on the chance to buy the cheapest bitcoin. They get frustrated. This is this is like what we saw back in late 2018 early 2019. Many people were frustrated feeling like they missed the boat on cheap coins because back then everybody thought the bitcoin price was going lower and then they ended up following it at a later date. You know driving the price higher in my opinion we have to be aware of both of these scenarios and we have to plan accordingly. And this again is why you never invest more than you can afford to part with. I’m fine huddling. I’m fine. I mean I can wait. The fundamentals are still there. I can I can wait as long as it takes I can hotel with the best of them. But my question to you is what do you think about all this. Of course I’m just speculating I think we have to be aware for both of these possibilities to me. They seem the most likely but I want to hear your opinion. What do you think about this global black swan event that seems to be affecting cryptocurrency and at what time frame do you think all of this is going to happen or turnaround. Now let’s pivot. You know that the Federal Reserve in times of crisis they’ve committed to you the American citizen that they will quantitative ease in record amounts to help this economy survive. The Fed has never printed more money and to put this in perspective. I stumbled on this clip. This is from 2010. This was during the recovery from the last financial crisis. This is the old Fed Chair Ben Bernanke explaining to the American people on 60 Minutes or whereas all this QE money coming from watch is that tax money that the Fed is spending its not tax money we simply use the computer to mark up the size of the accounts they have with the Fed. So it’s much more akin although not exactly the same but is much more akin to printing money than it is to borrowing. You’ve been printing money. Well effectively and we need to do that because our economy is very weak and inflation is very low. I want you to understand that this money printing that is going on not just in the U.S. but all over the world. This money printing cannot go on forever. Watch this video. I know this looks a little silly but trust me. Watch this video. This explains what the Federal Reserve is doing I believe this video was created actually a few months ago but bitcoin is a peaceful way to opt out of this. Seriously. Watch this. Did you hear about the Fed now. What about the Fed. They announced another round of quantitative easing. What does that mean. It means they are going to make large asset purchases via Palmo. What does that mean. It means they are going to expand their balance sheet and buy treasuries. What does that mean. It means they are going to print a ton of money. So why do they call it quantitative easing. Why don’t they just call it a printing money because the printing money is the last refuge of failed economic empires and banana republics and the Fed doesn’t want to admit this is their only idea. So why do they want to print the money. Because they say we have the deflation and the deflation is very bad. Why does the deflation the deflation is when prices of the things we buy go down. Isn’t that good. Doesn’t it mean that people can buy more of the stuff. Yes but the Fed said this is bad especially during the recession. So they think that during the recession when the people have less money to buy the stuff it is bad that the prices go down. Yes the Fed would rather have the inflation. So why does the Fed think we have the deflation. Because the CPI said so. But aren’t the food prices higher than a year ago. Yes. Aren’t the gas prices higher than a year ago. Yes. Aren’t the healthcare costs higher than a year ago. Yes. Aren’t tuition prices higher than a year ago. Yes. Aren’t the taxes higher than a year ago. Yes. Aren’t the subway fares higher than a year ago. Yes. Aren’t the stock prices higher than a year ago. Yes. Aren’t the bond prices higher than a year ago. Yes. So what is deflating right now. The only thing deflating that I can see is the Fed’s credibility. Did they have a lot of credibility to start with. No. Why not. Because the Fed has been wrong about every major economic development in the past 20 years. You mean they didn’t see the Internet stock bubble. No. In fact they helped fuel the Internet stock bubble and they didn’t see the housing bubble. No in fact they helped cause the housing bubble and they didn’t see the sub prime crisis. No in fact they told us subprime problems were contained right before the shit hit the fan and the Lehman went bankrupt. So has the Fed ever been right about anything. Let me see if I can think of anything. Nope. That is it my friends. My name is Aaron. This is all to Quinn Daley if you’re new to the channel make sure you subscribe for daily videos keeping you informed on everything going on in the cryptocurrency space today. If you got value in this video give it a big old thumbs up. Now we’ll see you tomorrow. He’s not kidding about printing money. The Fed issues U.S. currency. That’s why it says Federal Reserve Note on all the bills in your wallet. This is the Bureau of Engraving and Printing. Just a few blocks from Bernanke’s office. The Fed’s mandate from Congress is to put enough money in the system for maximum employment but not so much that it sets off inflation. The Fed actually pays for itself and returns billions in profits to the Treasury.