Welcome to BitBoy Crypto!
My name is Ben.
Today, I want to talk about something that I don't think we talk about enough
in the world of crypto.
There is this idea that--
well, there's really one of two ideas, okay?
The first idea is everybody in crypto makes money.
The second idea is no one in crypto makes money.
And depending on where you fall on that continuum is going to, you know,
probably direct your worldview and your investing philosophy.
I mean, obviously, if nobody makes money in crypto,
you know, you probably wouldn't be watching this video if that's what you believe.
Whereas, you know, maybe somewhere else, like maybe on TikTok,
that's what, you know, some people believe.
They've seen a lot of people come in, lose money, buy at the top, whatever.
I'm assuming you're the type of person that believes that everybody can make money in crypto.
That's why you're here. That's why you're trying to make money.
You're trying to, you know, find financial freedom.
However, some of you watching this video are not making money.
You have not made money.
Since the day you came into crypto,
you've actually lost money.
You're at a negative return.
I want to talk about the three things--
there are three specific things that separate the winners in crypto from the losers.
You can break anything down,
and it's going to fit into one of these three categories
because the statistics have shown us
that over time, investing in crypto, investing in Bitcoin,
you will make money.
Now, there's also a difference between making a little bit of money
and then those out there who have absolutely crushed it,
made a ton, enough to retire on, enough to quit their job,
own their own house, whatever the case may be.
And these three areas will also determine where you fall on that line.
So, here we go.
Here are the three things.
No. 1: Timing.
Like, there is a chance that you've done everything correct.
You just got in at the wrong time.
And if that's the case, then eventually, you're probably going to do very well.
If you bought Bitcoin at $69,000, for instance,
because you're new to crypto, you just got in,
you bought Bitcoin at $69K,
we're way beneath that right now.
You know, over time,
Bitcoin is always going up.
It's just a matter of how long will it take.
So, you know, either it's going to go to $69K and above maybe this year,
or maybe next year,
or maybe following the halving in 2024.
You know, it's probably going to come towards the end of this year, beginning of next year,
or if that doesn't happen, it'll probably be about 2024 or 2025.
It's questionable right now.
We don't really know.
But the fact is,
your timing may have been bad.
You may have came into crypto--
70% of people came into crypto in 2021.
2021 was actually not that bullish.
If you look at where Bitcoin was the beginning of the year
and where it ended the year,
not that dramatically different.
Now, if you would have bought in in January,
sold in May,
then got back in at the bottom in July,
then you would have still done very, very well.
But that takes a little more advanced knowledge of how to make money in crypto.
So that's No. 1.
The first thing separating the winners from losers in crypto is timing.
Now, that one?
You can't really help.
But you can take the things that you learned during that time
and apply them during better timing,
and you'll get much better results. Okay?
No. 2, the No. 2 thing that really determines whether you win or lose in crypto
is your research methods, your research techniques.
I want you to think about this.
Everybody out there pretty much have the same information at their disposal.
Look at all the information that is on crypto YouTube.
Look at all of the information that comes on sites like Token Metrics or Messari.
Look at, you know, TradingView for instance.
You can go to TradingView and look up charts.
There's all kinds of things that you can use.
And for the most part, everybody's on the same playing field.
Now, some of those services are paid services.
We're going to go into a lot of those platforms down the road on the channel.
That's something we want to show you how to do.
We want to help you build your crypto arsenal.
That's what we're going to be calling it.
But everyone on the same playing field,
some people are winning,
and some people are losing.
Some people are taking more advantage of those research tools.
I think one of the biggest, you know, bogus things on crypto YouTube,
and I'm guilty of it as well,
is saying "But do your own research."
We're always saying "Do your own research."
Every YouTuber you watch is saying that.
Why are we saying that?
Okay?
We're saying it so we don't get sued.
That's why we're saying it.
That's why people are saying it on, you know, on YouTube,
because they want you to understand that, like, before you make an action,
don't make an action based on my video.
Take what you learn in my video and go take it further.
That way, you can't blame me if it goes wrong, right?
Not financial advice.
Okay? That's a big problem because too many YouTubers are giving you this information,
and I'm guilty of it as well,
giving you this information,
then just saying "Do your own research,"
but we're not showing you how to do that research.
We're not taking you from point A to point B, okay?
What we're wanting to do is show you this information,
tell you why it's great,
and then tell you, "Hey, it's over there. This may be good,
but you've got to figure it out yourself."
And there is an element of figuring out yourself that's very important,
but, you know, if you want to learn some other--
let's say you wanted to learn coding, for instance,
and I was a website coder or developer,
and I was teaching you how to do it.
What do you think I would do?
Do you think I would just sit here and just, you know,
give you some information and say "That's it"?
I'm going to give you resources.
I'm going to say, "This is how I learned how to code."
"This is a good book you can look at."
"This is a good training website."
And I think we've got to do a better job of educating you guys on how we use the tools,
which tools we use,
how we use them.
The paid ones, are they worth it?
You know, how much money should you be making before you consider,
you know, this special newsletter, something like that.
So that's what we're going to be doing a lot more on the channel,
and then eventually, we're going to add that to the BitLab Academy.
BitLab Academy, a great place where you can learn about crypto,
$29 a month.
Head on over to bitlabacademy.com.
Check that out.
No. 3, the third thing, and this is perhaps the biggest one.
This is the one I think you have the most control over.
You're just making bad decisions.
So the three things that separates the winners from the losers in crypto,
No. 1: timing,
No. 2: the research arsenal,
and No. 3 would be--
No. 3 would be your decision making.
The decision making is the hardest part.
And let me tell you why.
We're in financial markets.
Markets are all about psychology. Okay?
The way you make decisions.
Your emotional reactions that turn into actionable steps
for an investment portfolio.
That is exactly what TradingView charts.
That is what charts and technical analysis take into consideration.
Someone's reaction to certain information and what they're likely to do---
buy or sell an asset.
So here's--
here's where that comes into play.
People are making emotional decisions about crypto
when taking a more factual and logical approach is always going to be a better option.
And think about it. That goes for anything in life.
Like, how many times have you been about to make a decision
and someone tells you, "You know what? You need to just sleep on it"?
Well, why did they say that?
Because in the moment,
you might make a different decision
than you would make the next day when you had more time to think about it.
Now, you also can't be the opposite,
paralyzed in fear all the time,
where you say, "Oh. I want to make this decision,"
and then you never make it.
You know, you didn't buy Bitcoin in 2015 even though someone told you about it
because you are fearful.
So it's not just, you know, FOMO,
euphoria, price is going up to the moon,
and everybody want to jump in that makes people make bad decisions, okay?
It's also, you know, the opposite.
It's the fear holding you back.
So you might know someone who's done very extremely well in crypto,
and you had maybe all the same information they did,
but you sold too early.
Another, you know, really common problem when it comes to the decision making is
you're doing one thing, you know, too much.
You're only using one strategy.
It's either "Well, you know, I think Bitcoin may drop,
so I'm going to sell all my Bitcoin,"
or it's "Hey, I think the market's bullish again.
I'm going to go buy all the Bitcoin I can or all the crypto I can
right now this exact moment."
That may not be the best decision.
What probably is the best decision is somewhere in the middle.
It's "Hey, you know what? I think Bitcoin's got a great chance to go up.
Let me put some money into it right now.
But let me also hold some to the side.
That way, if it drops, I can buy more."
You can't judge your decisions based upon the best possible outcome.
And, you know, people do that too often, where they will say like,
"Oh, well, you know, I could have bought Bitcoin at, you know, $200,
and if I did, you know, right now, the price of Bitcoin is at $40,000,
look how much money I could have made."
Well, you probably would have held it that entire time.
You probably would have taken some profits here or there.
And that would have been a good thing.
But we're always judging is the worst possible case scenario for us.
So, like, I bought Bitcoin in 2012.
The Bitcoin that I bought during that year was worth seven figures in 2017.
Now, it's worth probably close to eight figures, if not higher.
So the point is,
I'm always feeling that pain and the regret based on the best possible outcome for that asset.
So if you sell right now and you take some profits,
let's say you took half of your crypto portfolio,
you sold it right now,
well, if Bitcoin goes way, way, way up to $200,000,
you're going to feel that loss.
But you took profits.
That's a good thing.
You can't look at the worst possible outcome from your decision
and judge it against that.
Did you make money?
Were you profitable?
Those are the important things.
Very few people out there make the optimum decision at the optimal point consistently.
No one does it.
There was one guy in 2017 that shorted the market at the very, very, very, very top.
And they covered this guy like he was God for, you know, three years
until the price of Bitcoin, you know, went back up significantly.
And, of course, they were following his decision, and he said,
"Oh, you know what? I think I'm going back in."
And I think it was maybe Bitcoin's around $7K or $8K, whatever it was.
One guy, right?
As blow-off of a top that is, almost no one sold the top.
So you can't really, you know, think to yourself,
"I'm going to invest and I'm going to make all the best decisions all the time."
You're going to make mistakes.
Those are some of the valuable lessons you learn in crypto.
I am very well off and have done great in crypto
because of I made so many mistakes earlier on.
So back to wrap this up, guys,
the three things that separate people,
the winners from the losers in crypto,
No. 1, your timing.
You can't really control that.
No. 2, your research arsenal.
We can definitely help you with that.
We can help you to build, you know, a better way to do research.
And we're going to do that on the channel.
No. 3, you have to make better decisions.
Your decision making skills will go a long ways in determining
whether you're going to be successful or not.
So there you go, guys.
We're going to be really focusing on a lot of this stuff on the channel going forward.
We're going to be talking about more of the big ideas
that can help set you up for success,
and, you know, really and truly what you guys are going to see over the next few weeks
is a redawning,
a rebirth of the BitBoy Crypto YouTube channel.
Very excited. We've got some massive things in the works.
I can't wait to show them to you.
We're probably going to be talking about them later this week.
That's all I got.
Be blessed.
BitBoy out.