Welcome to BitBoy Crypto!
My name is Ben.
Ignore those guys with cameras in the background.
Look.
Today, I want to talk to you guys about Bitcoin because, you know,
Bitcoin is near and dear to my heart.
Everybody loves Bitcoin.
But you know when everybody loves Bitcoin more?
When the price of Bitcoin is going up.
And it has been going through the roof lately!
We hit the highest price we've hit in six months.
Now, why is this important?
But it's not quite where it needs to be yet.
Well, this is important
because, No. 1, the price is going up for some interesting reasons.
We don't have anything really on the downside pulling it right now.
Like, last week, we had people say, "Oh, the CPI numbers are going to be really bad,"
and, you know, before that, of course, it was the FOMC meeting,
and what are they going to do? What is Jerome Powell going to say?
We just don't have anything coming up anytime soon.
And since things are bullish,
they were last left bullish with the results of both of those instances,
there's just not a lot pulling the price down.
We've also got institutions, on the other hand,
that are now minting USDC and buying Bitcoin with it.
So, you may know, or you may not know,
maybe you're new,
is when money flows out of exchanges,
that generally is a bullish thing.
When money flows into exchanges,
that generally is a bearish thing
because that means people are getting ready to sell.
However, when you look at stablecoins, they're the exact opposite.
When stablecoins are moving off of exchanges,
that means that people are not willing to put those stablecoins into crypto during that time.
When stablecoins are flowing into exchanges,
that means people are getting ready to take their stablecoins
and actually buy crypto with them.
So, there's a lot of benefits of looking at what's going on with these stablecoins.
Well, institutions, not only are they flowing in right now,
but they just minted billions of dollars worth of USDC,
getting ready to go into different positions,
probably mostly Ethereum and Bitcoin as well.
And so they're really ready.
They're waiting.
A lot of people are realizing,
if you're waiting for $10K to $14K,
you've probably missed out.
And that's why we've been telling you guys to dollar-cost average ever since
August actually is when we said to start.
Of course, we saw some drops,
but now looking pretty smart to have been dollar-cost averaging since that time.
So, here's the thing.
Are we where we need to be yet?
Can we officially say that we're 100% out of the bear market?
Not quite yet.
The number to watch is $25,500.
We hit $24,950 last night.
It's retraced a little bit.
Is this coiling up and getting ready for possibly another move?
Is it going to go up?
Or is it going to go down?
Of course, the most essential question in all of crypto.
But if we go up and we pierce the $25,500 level,
that means that no longer are we going to be looking at a prolonged bear market.
We're not going to be looking at a 10-year cycle for Bitcoin
that now it's going, you know,
or it's going to be 2034 before we hit new all-time highs.
No, no, all that's out the window.
We are tracking right along with every single Bitcoin cycle that we've seen so far.
And, in fact, we might be trading a little more bullish than we have before
at this time in the cycle.
Now, if we hit $25,500,
does that mean we'll never go below that number again?
Absolutely not.
Most likely, what we will see is we will see the price of Bitcoin, you know,
have a retracement.
Down pro--
I still think there's a good chance we go down below $20,000 one more time.
Barely--
$19,995 is where the CME gap exists.
I believe CME gaps are pretty consistent.
We got a video coming out showing you that exact number pretty soon
on how many of those fill.
But the point is,
there's a great chance that we do see some retracement,
but if we can just get above that $25,500 level,
all of the bear narratives are dead at that point.
Because if we look at a retracement,
we're now looking at a retracement on bullish action,
not a retracement in a perpetual bear market,
which we've seen ever since early last year.
So, let me know your comments down below.
Where do you think Bitcoin is going?
Do you think we can hit $25.5K?
Is it possible that by the time this video comes out,
we might even be there?
Not sure.
But let me know what you think.
Are we in a bear market?
Are we in a bull market?
What are your prospects?
How high do you think Bitcoin is going to go in this run?
How high do you think Bitcoin is going to go in this next bull cycle?
Drop those down below.
That's all I got.
Be blessed.
BitBoy out.