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BIGGEST BITCOIN FRAUD Of All Time! (Crypto All Time High = Scam) - YouTube
Channel: BitBoy Crypto
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theranos Vanilla Ice Fire Festival Enron
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parmesan famous fakes and broadsters
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have come and gone throughout the years
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and hold up a mirror to society
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they show us what we've been blinded to
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or the truth we've been distracted from
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crypto is no different
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any asset class has its false narratives
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pumping dumps and Market manipulations
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what if there was a fake out for an
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all-time high what if the top of the
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bull run in November 2021 was
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manufactured and wasn't brought about by
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market fundamentals but instead by
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whales
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it's called The False top Theory and
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it's setting the stage for a possible
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super cycle let's get it
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April 2021 Bitcoin reaches a new
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all-time high of 63 thousand dollars
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profits are taken and a bounce back
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follows in May Bitcoin reclaims 50k and
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is in reach of sixty thousand
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when the bottom falls out Elon Musk
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spread some Bitcoin fud in the price
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craters diving to twenty nine thousand
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dollars after a few weeks retail is
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wrecked and the price of Bitcoin stalls
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during the summer
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we enter a bear market after having the
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shortest Bull Run on record and wait for
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a new Bull Run
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that's not what happened but maybe it
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should have because what did happen is
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we hit 69k in November crashed again and
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have slid backwards ever since there's a
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theory I want to share with you that
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sixty nine thousand dollars is the top
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in November was a fluke a fraud a fake
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that we've been in a bear Market since
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June of 2021 and the truly parabolic
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moves for Bitcoin have even been seen
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yet I'm calling it The False top Theory
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what happened during the summer of 2021
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was that whales were accumulating
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Bitcoin at a rapid Pace while retail was
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sitting on the sidelines but it wasn't
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just whale's buying it was institutions
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and there was a good reason for it the
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Bitcoin ETF
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the exchange-traded fund the next leg up
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for Bitcoin adoption
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it's been the goal of the Winklevoss
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twins since they first started Gemini
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it's the mechanism that will onboard
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trillions of dollars of liquidity just
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listen to what Michael Saylor had to say
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about it so what you have is a universe
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of people that can own certain types of
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Securities and certain types of
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properties by Charter and then you have
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uh and then you have a on a universe of
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Securities and properties of Bitcoin
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that are being offered as the banking
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sector and the financial sector evolves
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when the sector evolves when we have a
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Bitcoin ATF in the US billions and
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billions of dollars will flow into
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Bitcoin that under no circumstances
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would have found their way into Bitcoin
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otherwise during 2021 the SEC had
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changed its tactics somewhat instead of
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clamping down on everything Bitcoin
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related
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Gary ginsler stopped taking bribes and
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gave Regulators a yellow light to start
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some ETF approvals
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there had always been talk of ETFs being
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approved but the idea that more might
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come and that maybe even a spot ETF
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could get approved started to get Wall
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Street buzzing just a quick note there
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are several kinds of ETFs most of them
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are spot which means you purchase assets
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on the market the Bitcoin ETFs that were
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being considered by the SEC and approved
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were Futures ETFs has less of an effect
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on the immediate bitcoin price than a
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spot purchase since actually nothing is
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being bought it's a derivative
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Bitcoin ETF is just synthetic Bitcoin
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it's not real Supply leaving the market
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so it's fatally flawed I do feel like
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it's fatally flawed and especially for
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Bitcoin which you can hold the spot
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asset it's not like oil or livestock or
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something that's really difficult or
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impossible or illegal to hold uh it's
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more like gold that's pretty cheap and
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easy to store it's Bitcoin you can
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easily get the spot asset and
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unfortunately the cost for Bitcoin
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Futures is more like oil that's really
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expensive so it makes no sense at all
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what the market needs and what I Michael
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Saylor and many others want is a spotty
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TF for Bitcoin but instead we keep
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getting these Futures ETFs they're dicey
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to say the least
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but that didn't stop the ETF whales from
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starting up a price run in late
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September of 2021 in addition to El
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Salvador taking a few hundred Bitcoin
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for themselves
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but the market started to react in
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September because rumors were swirling
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that three Futures ETFs were going to be
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launched in the fall nerds started
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looking into the blockchain for answers
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and found
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the whales have been pulling Bitcoin off
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exchanges at a steady rate all summer
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was it an expectation of a by the rumor
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sell the news event
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well these ETFs were Futures contracts
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so no Bitcoin is being bought and stored
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by Valkyrie and pro shares the data is
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still murky but it's possible
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that the second top was really a
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Confluence of Institutions trying to
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flush out their pandemic stimulus turn a
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profit before the end of the year
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in the ETF announcements were the cover
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the theory gets even more compelling
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when you look at how public interest in
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Bitcoin is correlated with bitcoin's
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price
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there's up to a 91 correlation between
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Google searches for Bitcoin and crypto
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and bitcoin's price
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but look at this chart
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the interest spiked in late 2020 through
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the May crash
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ing along with the run up to 64k but
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then in the summer it dies off and has
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stayed down even up to the recording of
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this video
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so what is driving up the price
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false top Theory anyone it may be the
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case that the 2021 Bull Run was the
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shortest ever and the combination of
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stemi checks great resignation work from
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home PPP loans and Galactic printing
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from the Fed
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meant that the price of Bitcoin was
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overheated and moved out of sync with
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the Bitcoin cycle fundamentals the real
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top should have been in November but
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instead it was cut in half mostly from
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whales but also by the flood of meme
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coins entering the market siphoning off
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Capital from the altcoins it should have
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gone to
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I'm going to keep my ear to the ground
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and see how this Theory May shape the
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rest of this bear Market
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but if this really was a false top
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then the gains for Bitcoin and the next
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Bull Run are going to be as real as ever
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in a future video we'll be explaining
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how this could lead potentially to the
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largest Bitcoin super cycle in history
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sounds exciting stay tuned that's all I
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got be blessed way out
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foreign
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