 Hey guys and welcome back to my YouTube channel. My name is Dapo Waleesmal. Guys in this video, I wanna discuss Bitcoin. How should you go about trading Bitcoin in 2021? Should you be trading Bitcoin at all? If indeed you wanna be trading Bitcoin, what are the best strategies to use to be trading Bitcoin? And of course, I'll be giving you my honest opinion about the whole cryptocurrency industry and obviously, listen to what I have to say so that you can make the most informed decision possible. I know a lot of you guys have made some money from Bitcoin. A lot of you guys have lost a lot of money from cryptocurrency. So that's exactly what I wanna be speaking about today in this video. But before I get into that, all you need to do is smash the subscribe button, drop me a like and yeah, that's all you need to do. All right guys, so I'm gonna give you two seconds to do that, do that right now. Smash the subscribe button right now. Smash the like button and then yeah, all right, good. Let's get into the video. Hey guys, it's me, Dapo Waleesmal guys. Like I said earlier, I wanna speak about Bitcoin, right? So you guys have been following me for a while on YouTube. You know that I like to trade the Forex market predominantly. I'm a Forex trader, like I'm a technical analyst, right? So I've been getting a lot of questions about Bitcoin. Should I buy Bitcoin? Should I trade Bitcoin? Well, okay, not even Bitcoin, cryptocurrency in general. What crypto should I be trading? How should I buy it? You know, and stuff like that. Now guys, I want you guys to sit back and really listen to what I have to say today because today I really wanna speak from my heart. As you know with everything, every single piece of content I put on my YouTube channel, I always like to speak from the deepest part of my experience. I'm not gonna speak about what I don't know. I'm not gonna speak about something somebody told me. I'm gonna speak about what I know, what I've experienced before. Now, when it comes to the cryptocurrency industry, I need to give you guys a little bit of history and background and then we can go into how to go about trading Bitcoin. So I need you guys to listen, right? So I first discovered cryptocurrency as far back as 2014 and I bought some cryptos actually. I bought five Bitcoin, I used to own five Bitcoin and Bitcoin was so cheap at the time. I remember actually using two of my Bitcoin to buy a pair of jeans on the internet. I used two of my Bitcoin to acquire a pair of jeans on the internet. That's how cheap Bitcoin was. And then I just forgot about Bitcoin. So 2014, 2015, and then 2016, Bitcoin started to actually gain some momentum and I was like, all right, cool. I wasn't even paying attention to it because I was trading forex. Forex has always been my baby. It's always been what has put food on the table for me, right? So, you know, and then 2017 came and Bitcoin just started to go berserk. Like Bitcoin did like a thousand percent in the span of what, four, five weeks, okay? And before I knew what was happening, everybody was screaming Bitcoin, Bitcoin, Bitcoin, Bitcoin. Now you have to understand that I bought five. I used two to buy a pair of jeans in 2015 and now I have three left. So there was just something in me like I never really looked at Bitcoin. I mean, I opened the chart. Okay, what actually happened in 2017 when I went back to check my Bitcoin chart? I've seen an analysis that I've done, okay? And I found out that the analysis was, ended up playing out, like the analysis was correct because I did the analysis as far back as maybe 2015. I was trying to make sense of the financial instrument, Bitcoin. So I tried to use my forex knowledge, my technical analysis skills, and I did some analysis, but it just wasn't looking all that great. Anyways, fast forward to 2017 when everybody was screaming Bitcoin, I decided to open up my chart to actually see, because I don't rely on what I watch on TV. I don't rely on just daily news. I like to look at the charts because the charts always have always guided me in the right path, they've always given me the full picture. So I went to my chart and I found out that my analysis had played out and then indeed Bitcoin had rallied. I'm like, all right, cool. That's pretty interesting. So I had about three Bitcoin. However, going into 2017 December, I wasn't really comfortable with, I don't really know. The way everybody was just screaming about Bitcoin, Bitcoin, I just wasn't comfortable with it. So at about, I think on the 23rd of December, or 22nd of December, if I'm up to 2017, I liquidated all of my cryptocurrency positions on Coinbase. I had three, Bitcoin was trading about $19,000 something. It was, trust me guys, it was a lot of money. I didn't realize, it was a lot of money. I didn't realize when I was buying Bitcoin, I didn't think it would ever get that big, but it did. Made like so much money of that. I probably, it was a lot of money, right? If you do the math, three multiplied by, that was almost $60,000 that I made in 2017 December. But the question is, why exactly did I sell Bitcoin at that point? I sold it because I just wasn't comfortable. Now guys, you have to understand, the year before in 2016 December, there was a popular Ponzi scheme that was going on in West Africa. It was called the MMM scheme. And MMM was basically, it was a Ponzi scheme, borrowing specific deposits here, they guarantee 30, 45, 50% return every month. You don't have Ponzi schemes go. And what happened was the Ponzi scheme MMM had crashed just before Christmas. You know, so I was like, hmm, this Bitcoin thing, I don't think I want to hold it throughout Christmas because I feel like, because you have to understand something guys, around that period, when it starts approaching festive, when it gets towards the festive period, people want to start liquidating whatever assets they have because they want to go and spend time with their family, they want to buy new clothes, they want to celebrate Christmas. You know, so I decided to pull out my money and I sold out about $19,217 per Bitcoin. I sold and liquidated all my Bitcoin positions. Guys, you will not even believe what happened. I think it was a few days after Christmas, Bitcoin, it reached this peak of $20,000 and Bitcoin just started to collapse, tanked. So I noticed that when Bitcoin was on its way up, $13,000, $14,000, $15,000, $16,000, $17,000, $18,000, $19,000, even up to $20,000. People were buying, people, I know people that bought Bitcoin at $20,000. And then Bitcoin, what happened with Bitcoin peaked at $20,000 and absolutely collapsed. A lot of you guys already know this story, but I'm getting somewhere with this, right? And Bitcoin absolutely tanked at $20,000. I was like, shit, I saw people losing like a lot of money. I imagine if you spend 20K just to buy one Bitcoin. Bitcoin dropped, so this is 2017 December, fast forward into 2018 January, February, March, April, May, June, by June of 2018, Bitcoin had dropped to $3,000 per coin. Think about this, you had bought one coin at $20,000 because, and I remember very vividly, people were screaming, Bitcoin is gonna get to 50K, 100K, I'm gonna be rich, I'm gonna be rich, I'm gonna be rich, all that bullshit, right? And then imagine people who bought one Bitcoin for $20,000 and then by June of the following year, Bitcoin was trading at $3,000, $3,800. Yeah, if I'm not mistaken, if I just look at my chart, let me see, guys. Bitcoin did drop and came all the way back down to, yeah, look at this, $3,850. I'm correct, I have my figures right. $3,850 USD was what Bitcoin dropped all the way from $20,000. Freaking crazy, man, if you ask me. And I was just feeling sorry for those guys. And guess what happened, guys? When Bitcoin dropped to $3,800, everybody stopped talking about Bitcoin. I wasn't hearing any gist, nobody was talking about Bitcoin, nobody was talking about cryptocurrency, everywhere just went silent. I was like, hmm. And then we come back into 2020. Fast forward into, so throughout 2018, 2019, Bitcoin is just like going 3K, 7K, 8K, 9K, 10K, we come back, 7K, 8K. You know, it's just trading around that range. Everybody's quiet about Bitcoin. I'm not seeing gurus on YouTube talking about Bitcoin. I'm not seeing, so what I'm trying to say here in essence is, when things go bad, everybody goes quiet. When Bitcoin is popping, everybody's talking about it. You need to be very careful because to me that sounds like a pump and dump scheme. Okay? It doesn't sound like a reliable asset to me if you ask me. All right? I'm not saying you shouldn't trade it. I'm not saying you cannot make money. I have made, I will be a hypocrite to tell you not to trade Bitcoin because I made a lot of money from trading Bitcoin. I mean, I had, I liquidated my position in 2017. You know, so, however, it is always good to understand both sides because when you understand both sides, you're not negatively or positively charged. You're able to centralize your emotions and you can then make the best decisions possible. Okay? You have to understand that nobody talks about Bitcoin when Bitcoin is, like when Bitcoin, when things are going bad, only when things are going good. So that needs to, you know, that should be a lesson to you, you know, to tell you that, listen. Okay? This thing is not exactly a reliable asset, but I mean, if I know it's not a reliable asset, but they're still trading opportunity in this thing. So what I'm going to do is, I'm not going to, I know that there's a possibility of it going bad. So what I'm going to do is, if I wanted to invest $100,000, I'm not going to invest an entire $100,000 in this because it is not reliable. So I'm going to invest a setting portion of my investment, maybe 10 or 15% and I can put it towards Bitcoin because Bitcoin cryptocurrency is classified as a very, very volatile and risky financial instrument. Okay? My point here is don't go dumping all your money into cryptocurrency. First of all, it has no historical financial backing, backed by nobody, no central bank, backed by none of the instruments that we're aware of, backed by no government. Okay? You can make money off this, but you have to understand that, listen, if I'm going to put my leg in the deep end, let me put my toes. Let me sit on the side of the pool and only put my leg inside because I know I cannot swim. I want to get a feel of the water, make it, you know, just a little bit. However, I'm not going to put my whole body inside because I can drown. This is the exact approach I want you guys to use towards Bitcoin. Anyways, back to what I was saying. So then we get to 2020 December. Now again, Bitcoin, so that the time I'm recording this video is January of 2021, Bitcoin got out of the way to the roof. Now Bitcoin has hit $40,000 and guys, I saw the same pattern again. When Bitcoin was going all the way up to 20K in 2017 and now Bitcoin has gone all the way to 40K, during the rise of Bitcoin to these record highs, I have noted the same behavioral pattern amongst human beings. Everybody's talking about it and everybody's making the same mistake. Everybody's buying at the highs. Everybody's buying at the highs of Bitcoin. Ridiculous. You should not be doing this. I know people that bought Bitcoin at 40K, man. As I write, man, I'm talking to you, Bitcoin has pushed back all the way down to $32,000. That's what Bitcoin is trading at. So if you bought when the hype was high, the rest assured you are in negative as we speak, okay? And people are like, yeah, but guys, some people are like, hey, don't worry, we'll go back up again. I'm like, all right, cool. But you have to remember that when Bitcoin hit 20K, 11th of December, 12th of December. Oh yeah, I remember when I saw my Bitcoin, it was early on in December, 2017. It was before it started to collapse. Bitcoin hit its highest point on the 18th of December, 2017. Right? So people bought Bitcoin at 20K on its highest point. It did, Bitcoin did not return back to 20K until second of December, 2020. Do you know what that means? I'm looking at, if I'm not mistaken, I'm looking at almost a three-year spread, right? I'm looking at almost, did it take Bitcoin three years to go back to its previous highs? Let's say two years. Maybe my math is a bit off. Let's hope my math is a bit off, because I'm saying 2020 December minus 2020, 2020 December minus 2017 December. Isn't that three years? Did it take Bitcoin three years to, so if you had bought Bitcoin at $20,000 in 2017, you would have been in negative in loss for three years. Oh my goodness, what are people doing? This is crazy, man. Oh my days. And there we are again. People are buying Bitcoin at 40K and Bitcoin is pulling back. Oh my goodness, it's not looking good, you know? And let me also shed some light on the history of Bitcoin. Guys, you have to understand that cryptocurrency was created by some dude called Satoshi Nakamoto. Satoshi Nakamoto, nobody knows who the hell this guy is. Nobody even knows, even the CIA, the FBI, nobody know who the hell Satoshi Nakamoto, whoa, whoa, we don't even know what his real name is, man. Who is this guy that created it? It could be me, like I could be Satoshi Nakamoto. Let me tell you what did I did, so that you guys can understand this Bitcoin thing and get into your braids, man. The guy stayed, because right now I'm recording this video from my flat, I stayed in his house on his desk, thought about, you know, a different financial world. He went online, the guy hired programmers to build this. He hired some of the best programmers in the world. They built the blockchain system, you know, and all that. They built this, built that, and then he hired a very good marketing company to start marketing his program, his product that he had built. So, you know, and then what's next in everybody's saying, Bitcoin, Bitcoin, what's this Bitcoin thing? What am I hearing about this Bitcoin, Bitcoin, Bitcoin, Bitcoin, Bitcoin, the guy just in his house has built something. The guy is in charge. He's in charge of the cryptocurrency world. One guy, I'm not comfortable about that shit, man. I ain't comfortable about that. Like the guy, one guy in charge of the whole thing, literally, the guy has got unlimited Bitcoin. Okay, I know Bitcoin fans are gonna come to my comment and bash me. You don't know anything about this. Who says the blockchain technology, the nodes, you know, transparent transactions, and you guys need to free me with that shit, man. Leave me alone with that shit. So it's easy to, I remember, because I used to go for like cryptocurrency seminars. The one thing they will tell you about is ease of transaction. It's easy to send money from this node transaction, but to leave me, like if I wanna send money from my Barclays account to somebody's Barclays bank account, Barclays doesn't charge me anything. There's no transaction fee on that. Barclays doesn't charge me anything. Even if they charge me, like it's nonexistent. I can't, I don't feel it, I don't see it. So you telling me about transaction charges and make any bloody sense to me? Do you get what I mean? Because Barclays is already doing that shit to me, doing that shit for me. And you have to understand, if I put 1,000 pounds, if I put 20,000 pounds in my Barclays bank account, I'm not gonna wake up one day and the money is 3,000 pounds. If I put 20K in Barclays, December 2017, December 2017, and I came back December 2020, my 20K is gonna be 20K. My 20K is not gonna go from 20K to 3K. Guys, I know, I know, I know, I'm bashing crypto currency right now, but you guys need to understand, like, guys, I mean this industry I'll tell you for free. Listen, I worked for an ICO, an initial coin offering, just like Bitcoin. You guys know that there's so many types of Bitcoins. It's Ethereum, Lithium, all this, da, da, da, da. People are creating these coins. Guys, people are creating currencies. Doesn't that scare you guys, man? I worked as a marketing consultant for one of the ICOs I cannot mention, one of the coin offerings. I know what it takes to sell a coin. People are investing stupid amount of money. We raised $50 million in three months for that initial coin offering. Nobody one day asked us, what is this currency backed by? What is the backing? Everybody was very concerned, more concerned about how much money they were gonna make. And guess what, who made the money? Because after this January of 2012, December when Bitcoin hit its highest point, December 2017 slash January 2018 when everything was at its highest, the whole cryptocurrency industry crashed. The prices crashed. So even the coin we were selling at the time, the value was literally almost wiped out. But guess who made money? The people who owned the coin. We made $50 million, I'm telling you guys. 50M, they were the company I worked for at the time, made $50 million from people. So guys, you have to understand that. You have to try and ask yourself, where is the real money in this cryptocurrency? The real money in this cryptocurrency are the people that are selling the services that are selling your ability to buy Bitcoin. Okay, let me not get into, you see I get very emotional when I talk about this because I just can't understand how mass human psychology works. It just baffles me because everybody, and guys, I'm gonna leave you with one thing. You want to be careful when everybody's talking about something. You want to be, especially when it comes to an opportunity, a financial opportunity. You want to be very careful. When everybody's out, Bitcoin, Bitcoin, that's when you want to be very, very aware, aware. Warren Buffett has a saying that has stuck with me throughout my entire financial trading career. He says, you want to be fearful when everybody's greedy. Everybody's greedy, they are buying, buying, buying, this way you want to be afraid. And you want to be greedy when everybody's fearful. Okay, anyways, enough of all that. I'm gonna paste a Bitcoin chart, and we're just gonna do a quick screenshot because I don't really want to go into, I'm gonna do a quick analysis on Bitcoin and I'm gonna post a chart on here because I've already spent about 21 minutes on this video, ranting about cryptocurrency and stuff like that. I'm just gonna post a little picture of what Bitcoin is doing at the moment and I could potentially show you guys areas where you can buy Bitcoin so that you're not buying at the top. I'm just gonna try and make sense of this on the chart, okay? I'm gonna try and make sense of Bitcoin on the chart. But yeah, guys, Satoshi Nakamoto built a blockchain and the guy's just chilling somewhere. Imagine how many Bitcoin that guy has. The guy's unlimited Bitcoin. He makes it, as far as I'm concerned, the guy's the richest motherfucker in the world. See, the guy can print. They're telling me, oh, Bitcoin, the guy can print as many Bitcoins as he wants. Who is gonna fact check it? Nobody's gonna fact... See, guys, let me explain it to you. In the US, the US government has kinda like checks and balances when it comes to how much money they can print. If they print too much, there's inflation. You know, they're setting economic parameters that they watch out for when they're printing money, right? Same thing with most central banks in the world, okay? Most of these currencies you see in the world are backed by something, either backed by gold, they're backed by a certain quantity of something, right? Perceive value, you can say. However, the perceived value has something that is backing it to a great extent. But when it comes to Bitcoin, you know, it's just hype, okay? It's just hype. Will I be trading Bitcoin? I'm not really sure. Should you be trading Bitcoin? Feel free. You can make money off Bitcoin. Right now, I feel there's a strategy that I wanna share with you guys that I noticed about Bitcoin. Anytime we get to a very record high, we always drop drastically. So if you have access to a good broker, my broker that I use is called Infinox Capital. The link is gonna be down there below. You can sell Bitcoin at its highest. You will make a lot of money. But even looking for areas to buy, okay, you can buy Bitcoin when it's really, really cheap. These are the only strategies I can think about. You can buy it when it's really cheap. Right now, 33K, we don't know where it's going. I feel it's gonna drop even further. You know, wipe out some people, you know, and stuff like that. So that's my strategy for Bitcoin. How should we trade in Bitcoin in 2021? I know this is not exactly the video you expected to see. You expected me to say, okay, based on this news. And you know me, I'm part of crypto forums. And most of the guys that are, most of the owners of these forums are talking about, when they come to analyzing a crypto, they have to consider a lot of fundamentals. They have to consider technicals. Like, there are so much is going on. News from here, what China adopted, what the US adopted, all this, Goldman Sachs is building a crypto trading desk this year. Guys, in 2017, when Bitcoin was doing very well, I saw on the news that Goldman Sachs and JP Morgan were building a crypto desk. What does this mean? They were opening an entire trading department for cryptocurrency trading, 2017. However, when Bitcoin crashed in 2018 January, all the way, most of 2018, I wasn't hearing about this desk, so-called desk anymore. All the good things that people were saying about cryptocurrency, I wasn't hearing about it anymore. Why? Everybody ran and was hiding. Okay? So this to me looks like a very, the whole crypto industry looks like a very bad move I'm gonna take it, right? Very bad move I'm gonna effect. Everybody's doing it. Let's just do it. Let's just do it. It's gonna be the future of it. Like, if cryptocurrency becomes the future, if Bitcoin becomes the future tomorrow, and I never bought any Bitcoin now, I will not look into the future and regret anything. I would not, because I would say to myself, I was standing true to my values, okay? I was standing true to my values. I was not interested in something that I didn't feel was reliable enough. Guys, you have to understand that I'm a money manager. I manage a lot of money, and I manage a lot of money, and I have a lot of responsibility to my clients in terms of risk. I'm a very, like, what really drives me is risk. I'm very, very calculated when it comes to risk, because as a foreign trader who has lost a lot of money, trust me, risk management will become part and parcel of your DNA. So, as I leave you guys in this video today, I can, trust me, I can speak here for like the next 15 minutes about this Satoshi guy. You know what, should I even tell you what's really even I'm learning me about the whole thing? I wish I was the Satoshi guy. I'm honestly like, I'm just angry. I might say, why did I not think about this? Like, I would have made so much money and I've probably owned my own Burj Khalifa by now. Burj Al Arab or Burj Khalifa. Two of them, in fact. And I built my own Dubai. You know, I'm pissed off. It should not be me that built the blockchain and I'm chilling while everybody in the world is just bashing their head. Today is going to be the future. Who will be the future? It's going to be, I'm just going to be chilling, printing unlimited cryptos, you know? Printing unlimited cryptos, calling in blockchain, daffy chain, Willis chain, that chain, his chain, my chain, you know, fuck this chain, all the chains. Supply chain, you know? I'm just pissed off that I'm not Satoshi, but you know, if Satoshi, if you're watching this, good job, good job. You did it. You put the whole world in a state of frenzy. You build something and you've successfully confused everybody. Even the central banks, I get confused. Even the very, I saw a tweet from Elon Musk the other day. Elon Musk was saying, he put a picture of him just minding his business and then a picture of Bitcoin beside him. How he just minding his business and Bitcoin tempting him, you know? So if people like Elon Musk can be tempted by Bitcoin, you know, that just goes to tell you that Satoshi, like a motor built something amazing here. So guys, I'm gonna end this video on this note. My strategy for Bitcoin is wait till it drops really, really thin. Wait till it really, really, really drops. To me, it looks like a pump and dump scheme. Wait till it drops really low, okay? So in this case, maybe look at this, this might drop. If we take out 30K, the next major support is 24K, after that is 20K. So I'm gonna look maybe if it drops to 20K, 19K, I might potentially look for buying opportunities. Although I can see strong support at 30K. So we can bounce off at 30K, but if we bounce off at 30K, it's still a bit too expensive for me. Maybe if we pull back into about 22K, 19K, yes, I might be interested in trading a bit of Bitcoin. However, I'm trading for trading purposes. I don't believe in the instrument. I'll just be getting in. I won't be risking a significant portion of my trading portfolio, not at all, you know? So all right guys, on that note, if you found this video very helpful, this video was from my hard best belief. If you found this video very helpful, drop me a comment below. Tell me what are your thoughts about Bitcoin? What do you think about the cryptocurrency industry? I would love to hear what you have to say. Drop me a comment below and I'll catch you guys in my subsequent video. Yeah, for those of you who are forex traders who wanna learn how to trade the forex market like a pro, the link to the forex mastery course is also gonna be down below. I'll see you guys in my subsequent videos. Right now, I am going to go and I'm gonna go lift some weights. I'm gonna go into the gym to go and pump some metal. So I'll catch you guys in my other videos. Take it easy and peace out.