Is Black Rock cheating you out of your Bitcoin gains with paper Bitcoin that's The rumor swirling around the industry Right now and everybody's in a scramble Paper Bitcoin top expert debunks this Wild Black Rock rumor and now even Coinbase is involved coinbase CEO Refuting the claim of coinbase selling Paper Bitcoin to Black Rock but what is Paper Bitcoin and why is it bad for the Markets now the price of both of these Assets are the same but you can see some Differences between Bitcoin and paper Bitcoin mostly paper Bitcoin doesn't Have 24 trading and you don't actually Own it it's not censorship resistant nor Can it not be seized but paper Bitcoin Is terrible for the price of Bitcoin cuz We've seen what this has done to a Previous asset that asset was silver That's right paper silver was used to Suppress the price of silver and so I Asked Google did paper silver suppress The price yes paper silver can suppress The price of silver and it was much Larger than the physical silver market With 250 times as much paper silver as Physical silver and so this is why you Can see a lot of manipulation now I Asked chat GPT to break it down into Simple terms and so when you ask chat GPT about paper silver manipulation they Give you a great explanation there's two Ways to trade silver one physical silver
This the actual metal and then paper Silver this isn't the real silver you Can touch it's like a piece of paper Saying that you own or are betting on Silver but you don't actually have the Metal like we saw this is a ratio of 250 Oun of paper silver for every one real Ounce now this is where the problem Comes in some big companies or banks Have been accused of manipulating the Silver price using paper silver this is Exactly what we're worried about with Bitcoin we don't want paper Bitcoin to Manipulate the price of regular Bitcoin And what that means is they're making Bets or trades in a way that affects the Price of silver without actually buying Or selling the market and how they're Accused of doing it short selling like Betting on it will go down and then You're accused of selling a lot of paper Silver which does cause the price to go Down also more paper than metal which Isn't actually ideal because there's so Much more paper than actual silver and Then the past manipulation banks have Been caught manipulating it before now This is where it gets even crazier the Bank we're talking about is JP Morgan You may be remember them they banked a Certain person who owned an island now They agreed to pay almost a billion Dollars and their scheme to defraud the Precious metals Market folks it gets
Even worse than that it was 08 to 2016 This is going to be important and then Traders and sales Personnel at JP Morgan Was in the tens of thousands of Instances placing orders and then they Would cancel those orders before Execution so they're heavily Manipulating the price now when I look At the two scandals the first Scandal Pumped the price it went from $6 and Then in less than a year it went from $6 To $50 and then the other Scandal was JP Morgan 2008 to 2020 now when we look at The price woo look at that first Manipulation of silver right there that Would have been good if you're a holder But I doubt many people sold at the top Now that was the first manipulation the Second manipulation is this period right Here 08 to 2020 and then essentially Ends as soon as the price was done being Suppressed if you want proof that silver Was suppressed look at the price of gold Silver all-time high 2011 well gold also Set in a new all-time high 2011 but then Continued to set new all-time highs Silver still hasn't claimed a new All-time high since that peak in 2011 But now they say they're not Manipulating the price with paper silver Anymore but if they were you know I'm Sure they would just pay a fine and then Move on we wouldn't probably hear much About it anyway so this is silver how
It's being manipulated you see how gold Just kept on pumping but Back to Black Rock black rock just kind of added to The rumors when they added their own Bitcoin node and so now they have their Own Bitcoin node to validate ETF Holdings but what is a node and does This mean black rock is using paper Bitcoin well actually it means they Can't be fooled by paper Bitcoin so what Is a Bitcoin node nodes are the Computers that run the Bitcoin software And store all the information on the Blockchain to manage the network why do You need a node well the reason why is One support the Network's health I don't Know how much they care about that well They want to support the Network's Health and security which is going to be Very important for black rock also Ensure privacy also important for Black Rock and if you look at the commercial Reasons it's so they can have the Accurate blockchain data but what does This mean for price and where the heck Did all these rumors come from Well There's almost another Scandal when you Look at where where the rumors may have Come from the rumors came from their CB BTC that is right they're going to have Their own wrapped Bitcoin product Coinbase Bitcoin now there are other Competing rap Bitcoin products which is Going to be an important part now
Earlier Tron founder Justin son he had Issues with the coinbase r Bitcoin Because he's saying there's no proof of Reserve it lacked Audits and could Allegedly freeze user funds now the Launch has put them in direct Competition with bit goes R bit coin Product soon to be managed by Justin Sun's firm so you know Justin Sun Founder of Tron a top 10 currency Throwing shots at coinbase probably led To a lot of these rumors but like I said What does this mean for Price well I Want to give you kind of some short-term Warnings in the charts that I'm seeing Right now because we got a lot of people You know just spreading fud about paper Bitcoin Justin Sun you know potentially Sparking some rumors can the markets Have a short-term correction maybe Leading into the weekend in a couple Days here well like I said I saw Something worrying and that is the Relative strength index is creating a Lower high while the price was you know Creating a newer high right here I had To go back all the way to the front part Of this parallel Channel until I saw Something similar in the charts and what Happened then was pretty scary everybody So we go all the way here back to March You can see the relative strength index Creating a lower high while the price Created a higher high and folks that led
To a pretty severe dump we ended up Falling about 177% in a short amount of Time that was less than a week so last Time we had this play out in the charts Led to a pretty sharp correction and if You look where we're at in the charts Right now that percentage actually takes Us very very close to the bottom of the Range you can see you know within a wick W distance right there so if this plays Out and it plays out similarly to last Time we might be testing the bottom of This range before we go to full sin mode All the way to Valhalla where Bitcoin Starts pumping so if you're wondering What's going on with the paper Bitcoin Is this going to suppress yes paper Products can be used to suppress the Price but I do not think black rock or Coinbase is going to try to suppress the Price of Bitcoin with black rock running Their own node all these eyes on Coinbase and their R products and all The ETF Holdings there's never been more Scrutiny on a financial product so I do Not think paper Bitcoin is going to Reduce your chances of being able to Retire early I do think Bitcoin is going To be bullish but watch out for this Shortterm price prediction that where we Might have have a little bit of a Cooling down just kind of judging the RSI so that's what I got for a paper Bitcoin hopefully I'll see you and your
Paper Bitcoin or real Holdings of Bitcoin preferably at the top
