Bitcoin is having an iconic run.
There's no doubt about it.
At the current moment, it's pushing $24,000, which
I told you guys that the target I had to move my Bitcoin back over to Ethereum sometime in the $23000s.
To catch you guys up if you missed my video from a couple weeks ago,
I moved all of my Ethereum, $600,000 worth, over to Bitcoin in hopes I could pick up
some more ETH for free.
Today, we're going to look at exactly how much ETH I made or lost
and why I'm obsessed with gaining more ETH.
Let's get it!
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Welcome to BitBoy Crypto!
My name is Ben.
Everyday on this channel, I show you how to make more money in cryptocurrency.
If you like money and crypto, make sure to hit that Subscribe button.
Also, guys, before we get started, I want to let you guys know
we've chosen and paid out all five of our BitBoy Secret Santa recipients.
These are five people and families that we sent $1500 each to
in order to give people hit hard by 2020 a bright Christmas.
Now, we had over 100 submissions,
And I'll be honest with you guys, it was extremely difficult to watch a lot of these stories,
and we wish, of course, that we could help everybody out.
I mean, that goes without saying.
But we had to only choose five.
Now, here's a video from one of the recipients of the $1500 gift.
Hey, BitBoy! My name is Justin. This is Jonathan and his family.
I saw the giveaway.
And I entered them into the Secret Santa Giveaway.
We received your email,
and we're very grateful that you are giving back.
And we want to say thank you.
Thank you, BitBoy! Merry Christmas!
Very thankful we could help them out.
And we'll be showing all of the 'thank you' videos at the end of this video,
so make sure to stay tuned for that.
Now, in this video in particular, we are going to be examining Ethereum
and really breaking down my Ethereum to Bitcoin trade to see where I ended up.
And then I'm going to be explaining to you guys just why I'm so bullish on Ethereum,
why I believe that Ethereum has so much more potential than Bitcoin does in this bull run.
So, back to our Ehereum to Bitcoin trade.
We traded 1015 Ethereum for 31 Bitcoin.
Now, if you want to check out the proof, you can check out last week's livestream.
Here, you can see that in spite of my big ol' head there,
this was the move that we made, right to the right of the screen.
And I know that surprised a lot of people who never thought I would part with my precious ETH.
I love Ethereum way more than Bitcoin!
I love that it actually does things other than sit around and collect digital dust.
I love that you can build on it.
I love that it's basically creating a new layer to the internet.
But most importantly,
I'm excited to stack up as much as possible because I know the upside potential of Ethereum,
and I'm gonna be rich, snitches!
And so are you!
That's why my family and friends are super front-loaded into ETH
more than anything else!
I told you guys that I will be looking to trade back into ETH around $23,000 for Bitcoin.
And unbelievably, we find ourselves here
at about $23,000.
So I thought it was a good time to check and see what our trade is looking like.
Now, as of right now, my 1015 ETH is now worth 1086 ETH,
for a gain of 71 Ethereum.
That's over two Ethereum 2.0 nodes for clicking a couple of buttons on the interwebs.
It's basically an extra 50 grand.
Now, it's a pretty good trade if I do say so myself,
and I did say it myself.
The question is, do I trade back now?
When I originally made the trade I said somewhere in between $23,000 and $24,000
was going to be a good time to trade back.
But I will say this.
I'm making some big decisions on this today.
I'm bringing in the Brain Trust,
which consists of me and TJ.
Maybe we'll let you guys in on the meeting.
Well, TJ, it's time to decide.
What are we gonna do?
You know I like Bitcoin.
I like Ethereum.
I like Bitcoin.
I like Ethereum.
Bitcoin.
Ethereum!
Bitcoin!
Ethereum.
Okay, that was intense.
TJ's breath was so bad that I went ahead and made the executive decision--
I am the executive around here--
and officially traded back to almost 1100 ETH.
Trade won.
So, let's get down to brass tacks on why I love Ethereum so much for this bull run.
It's all about potential.
We've discussed this several times on the channel, but I want to go over it one more time
for those of you who are new to the channel and may not understand what I mean by this potential.
Then I'll give you some crazy numbers that Ethereum hypothetically could reach
based upon the information I'm going to give you in this video.
The first thing you have to understand is why Bitcoin value is so important.
Many people judge their portfolio based upon US dollars.
And that is understandable since that's the base currency in the entire world.
But in the world of crypto, we judge our value based upon Bitcoin.
Why?
Well, it's very simple.
The name of the game is to outperform Bitcoin.
If you're in assets that are not outperforming Bitcoin,
then like, what's the point, you know?
If you can't find assets doing better than old BTC,
then you should just stick to old BTC.
And this is the painful lesson many people have learned throughout time, over and over again.
Sometimes, you're just better off being in Bitcoin than anything else,
especially in a bear market.
Of course, stablecoins will be better,
but Bitcoin traditionally dropped somewhere in the 80% range in bear winters,
while altcoins traditionally fall in the 95% range.
Remember that as we get closer to September of next year.
Don't get wrecked.
But there's a reason why when you look around coinmarketcap.com
that every single cryptocurrency's chart has an orange line on the chart.
That indicates the Bitcoin value of a project.
The higher the line goes,
the more ground against BTC a project is picking up.
When that orange line stagnates or drops,
the project is losing value against Bitcoin.
Now, we're looking for cryptocurrencies that are going to have large upticks on that orange line.
We want their BTC value to increase.
You can think of the Bitcoin value as a percentage.
All you have to do is move that decimal over two spots.
Now, so here for Ethereum, you'll see its value is at 0.028,
or we move the decimal over, it's basically 2.8%.
The price of one Ethereum is 2.8% of the cost of one Bitcoin.
It's very important we have that baseline to establish a coin's value versus Bitcoin's value
because there are so many factors and variables that go into each individual cryptocurrency's tokenomics.
Those tokenomics consist of the ratio between circulating and total supplies.
Some, for instance, have max supplies like Bitcoin at 21 million,
while some, like Ethereum, don't even have a max supply.
The number of tokens a project has goes a long way towards determining its value and its price.
That's why XRP has no shot ever to be as expensive as one Bitcoin.
XRP has 100 billion max supply tokens,
while Bitcoin's only got 21 million.
But Bitcoin's value on the chart doesn't take any of this into consideration.
It simply gives a percentage of each coin's individual value
versus the individual value of one Bitcoin.
So it's saying about one Ethereum is 2.8% of one Bitcoin.
Now, why is this important?
That's a lot to say.
Well, in 2017, when Bitcoin went on its massive run-up,
it cooled off.
And when this happened,
altcoins such as Ethereum started not only increasing drastically in US dollar value,
but made huge strides against Bitcoin's value itself.
Ethereum's all-time high versus Bitcoin is about 15%!
This was early on in the bull run, kind of where we are now.
Once Bitcoin went parabolic,
one Ethereum rose back up again to about 10% of one Bitcoin's price.
So, here's where we start to see that insane potential that Ethereum has right now.
It's sitting at 2.8% of Bitcoin's value per coin.
For Ethereum to get back to all-time highs anytime soon,
just as we've seen with Bitcoin recently,
it's going to have to start running up that Bitcoin value mountain
tremendously and swiftly.
Just imagine if, right now, Ethereum were to get back to 10% of a Bitcoin's value,
that would put it at $2300 per coin.
Right now, it's sitting at $660.
That gap between where we are now and where we know Ethereum can get to
is the potential that I see.
We have a gap between what was and what is.
And in my opinion, it will get back there.
Now, even if Ethereum were to only get back to, let's say, 7.5%,
not even returning to the 10-15% range,
that means it would outperform Bitcoin by almost three times over the next year.
If Ethereum were somehow able to beat that last cycle's numbers
and climb all the way to, let's say, 20% of Bitcoin's value,
and Bitcoin were to, let's say, go all the way to $400,000 per coin,
as some people say,
then that would put one Ethereum at $80,000.
Now, if we were to just get back to the 10% level,
that would put Ethereum at $40,000 per coin.
And honestly as crazy as it sounds,
with a $400,000 Bitcoin,
I would not doubt it.
Drop me a comment down below and let me know where you think Ethereum is going
and why you think it does or does not have potential.
That's all I got.
Be blessed.
BitBoy out.
Thank you, BitBoy, so much. This will truly make my mom's Christmas this year.
Thank you so much, BitBoy Secret Santa, for helping my friend's family out
and for your generous donation.
We really appreciate it and we're grateful for this blessing.
Keep up the good work!
Sending a "thank you" video in real quick to show our gratitude for you picking our family.
You know the trials we're going through at the moment from our submission video.
It couldn't have come at a better time. We really appreciate it.
It was truly a Christmas miracle.
You definitely swooped in like a true superhero at the last second.
Thank you, BitBoy.
Merry Christmas!
Thank you, BitBoy, for Christmas this year.
God bless you and have a Merry Christmas.