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Guys, make sure, if you're not subscribed to the channel,
you go ahead and hit that subscribe button
because we're going to be talking about some stuff today
that is exactly why I started this channel,
why I've been trying to move people over to crypto
ever since I had the epiphany,
the vision of what is coming in the world with this technology
and how it factors into economies in different--
a different way for people across the world to be able to prepare themselves
for worst case scenarios.
And that's, you know.
A worst case scenario with the stock market is where we are right now.
There are people everywhere making videos about this recession.
Nasdaq has plunged.
It's funny because, you know, in crypto,
when the price of Bitcoin hits the top and comes down,
and people are still bullish, of course, at that time,
like we were still at the very end of last year, beginning of this year,
even though we should have been bullish,
we had lots of reasons not to be bullish,
but we were thinking, "Ah! Even though we said the markets should be over in that time,
this time, it's different!"
Nah, it's not different, okay?
People make fun of people in crypto that think Bitcoin's going to these crazy numbers.
$100,000, a million dollars, whatever the case may be.
But the fact is,
I mean, I do believe it's going there.
Over the long term, we'll all be proven right.
But over the short term, we can certainly be wrong
about where we think the price of Bitcoin is heading to, right?
They call us moonboys.
We're moonboys!
Because we think Bitcoin's going up, you know?
And when it goes down, people are surprised.
I'm always surprised when Bitcoin goes down because
I understand how incredibly undervalued it is even where it was at $69,000.
Even at $20,000!
Since 2017, I was telling people it was undervalued.
And that is 100% accurate.
Bitcoin is set to break our financial system.
Let me tell you who the real moonboys are.
The real moonboys.
The people who are the most out of touch with reality,
it's the people who've been investing in the stock market
and thinking it's going to go up forever.
Your traditional finance guys.
They're the true moonboys.
They're believing in the stock market over a new system that breaks the stock market,
that breaks the traditional financial system.
It's like they just thought stocks are going to go up forever.
Everybody thought it!
Just--
once again,
housing bubble,
don't forget about that.
Don't forget about that.
Everybody thinks that the housing-- the real estate market is going to go up forever!
"Oh, my gosh! This house was $200,000. I can sell it for $500,000!
Wow! What a great deal!
What a great deal!
The next house I buy,
maybe it'll double to a million dollars!"
Guys, markets crash.
You need to understand this.
One of our investing philosophies here at BitBoy Crypto, our No. 2,
is to understand market behavior.
You don't just have to understand the crypto market behavior.
You have to understand how markets operate in general.
Markets get overheated, okay?
You don't think the real estate market is overheated right now?
You don't think so?
No, I'm not going to say it's going to crash this week, next week, a year, two years,
but it will crash, and it will crash hard.
The stock market?
The same thing.
People were saying, "Oh, no, it's going to go up forever.
It'll just keep going up!
Look at it! It's been going up for 14 years!"
Well, guys, the reason why the stock market has been going up?
Here. Lean over. I'll tell you.
They just keep printing more money to put into it, but that's over!
Remember that, okay?
Because while other people have been telling you guys to invest in stocks,
"Invest in this. It's much safer, much safer, much safer,"
guys, that's not the world we live in right now, okay?
Markets are volatile.
We're actually seeing the stock market be as volatile as we've seen it be before,
and Bitcoin is falling along with that correlation.
If you look at tech stocks,
that's where this market was the most overheated.
Look at Netflix. It's down, you know, 70 or 80% from its all-time high, whatever.
Peloton, okay?
You know, yes, they have physical product, but they had also the software side,
which is where they actually make their money on their subscription services.
It's crashed.
You look at Facebook.
It crashed 25% a day, I think it was.
Absolutely insane! Okay?
Or maybe $25 billion a day.
Whatever it was, it was an insane drop.
Guys, the tech stocks were going up because the Fed was printing money.
Out of control.
The money supply was going out of control.
It's a Ponzi scheme.
It's so funny that people coming to crypto, they say, "Oh, Bitcoin's a Ponzi scheme."
Guys, you're part of the biggest Ponzi scheme in history!
Okay?
We keep printing more money to feed the kitty.
And then what happens when they print so much money and it flows into one place?
Inflation happens.
And then people realize, "Oh, we're screwed!"
The Feds going to step in,
fix the inflation,
and now the economy is going to crash.
Like, face the facts, guys. This is reality.
I hope you're prepared for this, okay?
I hope you're prepared for this.
If you've been watching this channel for two or three years,
you are prepared.
You are prepared for this.
You don't cram a night's worth of study for a test in one hour before the test, okay?
You're not going to know it as well as if you would have taken the time
to do a little bit of practice every day with it and study it.
That's what we do on this channel.
We are in this for the long term.
And we've explained to you--
not only did we tell you that eventually the stock market's going to crash
because of the money supply,
we also told you all last year deflation was coming,
so it was actually going to be better for you to take profits out of crypto
and put it into cash.
We told you that last year.
We told you a million times.
It was a big talking point on this channel at the end of last year.
Or the last half of last year.
And we were telling you that in January.
Now, look where we're at.
Now, not to say we're definitely going into, like, some kind of like hyper deflation period
and your cash is going to double in price,
but the dollar index is up like 15%.
15%!
Dollar index against other world currencies.
Guess what, guys?
It broke through resistance.
It's going up higher.
It's probably going somewhere in the dol-- or the 110% range.
Or-- I don't know. I forgot how they count.
110 points, I guess you say?
Where if it was exactly at 100,
I think the dollar will be equal to the average currency cost around the world?
Now, we're above that.
So we're gaining value back on the US dollar like we haven't in years, okay?
You've got to be prepared for times like this.
Everybody's watching these videos trying to figure out, "What can I do? What can I do?"
No, actually, we did a video for you guys back in I think it was March of 2020
where people were talking about recession, okay?
And it didn't happen because they turned the money printer back on.
People were talking about recession,
and we told you guys what we were going to do with our money in crypto.
We told you that.
We said,
"Our profits from this bull run,
we are going to turn into real estate.
We're going to move some of it into other assets.
We're going to look at buying gold possibly."
That's what you have to do when you make profits in any market.
Guys, markets are a game of musical chairs. Okay?
You've got to take profits out from one place, diversify into something else.
Even if, at that time, it doesn't seem to make sense.
Like, why would someone--
when Bitcoin was at $69,000 and the dollar index was getting crushed,
why would someone want to take money out of crypto and put it into dollars?
This is why.
You have to prepare, okay?
I don't know what the next year to two years are going to look like.
I'm pretty sure I know what they're going to look like for crypto.
It's going to look like, you know, a lot less viewers on YouTube.
It's going to look like a lot of people losing jobs.
It's going to look like a lot of people struggling to find a different way out.
Very similar to what we're seeing the beginning of the pandemic, okay?
That's what this is going to look like.
And it's probably going to be rough. Okay?
I don't know how rough it's going to be for your family.
And I want you to know that we care about your family here at BitBoy Crypto.
We care about you.
And, you know, I pray for all the families out there that are not prepared.
But you have to learn this lesson. Okay?
If you are not prepared for what is about to come,
you'll get through it.
It doesn't mean you're going to necessarily flourish.
But you'll get through it.
You'll do that.
You're a fighter.
You will get to a point where you will provide for your family,
and you'll do what you have to do to get by,
whether it's pulling money out of your savings
or, you know, asking for help.
I don't know what that looks like for a lot of people, okay?
But what I do know is
this is why you have to get diversified.
This is why you have to learn to prepare yourself
not during the time of crisis
but ahead of the crisis.
People that are researching how can they--
how can they make money in the recession that's coming,
that we're pretty much already here at,
you need to be doing that research before it comes, right?
It's too late right now.
It's too late right now to look for a way to keep yourself recession-proof.
It's here.
You have to do the work ahead of time.
And I think that's something that so many of you guys have to learn this lesson.
And I know--
I hope you guys saw on Twitter,
I posted this tweet from back in 2018. Okay?
It was in-- I think it was September 2018,
and I had gone to this conference in San Francisco
with some other crypto influencers.
I was-- nobody knew who I was, right?
I knew who all these people were.
I was excited to go hang out with them.
But the problem was,
is there was a hotel.
It was Kimpton Hotel,
which, ironically, I stayed at in San Francisco this week.
Same thing.
At Kimpton Hotel,
it was $400 a night!
I didn't have $1,200.
I didn't have $1,200 to spend on a hotel for three nights.
I thought that was asinine, right?
But they all had it.
I had to stay in an Airbnb.
I didn't have a room.
It had the side of a living room that had a curtain across it.
Just a curtain. That's it.
There were people in the living room.
I had to close the curtain to go sleep.
It was so sketchy. Right?
In San Francisco.
And I made this tweet about how, you know, this is the non-luxurious side
about being a crypto influencer, which is I sold my house to go all in,
to put my life into crypto. Okay?
A lot of people would have thought I was insane.
And I probably am.
But that's a whole separate set of issues here. Okay?
The fact is,
is that I put everything I had,
and I was struggling financially,
because I had to prepare for the next two years.
How are we going to get by with me running a YouTube channel
that was making zero dollars on at the time?
But I knew I never wanted to be in the spot again that I found myself in during 2016/2017,
where I wasn't doing great financially,
I was struggling, I had a business that was failing,
and there were times when things were good for me.
Like 2011, 2012, 2013, things were good, and they started tailing off.
And then my business ultimately--
it's a long story how it happened,
but it ended up basically going the way of the dinosaur, okay?
I never want to be in that spot where I had to go and look at my family
and be like,
"Guys, I don't know if we can, you know, like, afford groceries like normal this week.
The kids may have to get some hand-me-down clothes from some relatives.
We don't have money to go buy the kids new clothes for school."
You ever had to do that? That sucks.
I promised myself I would never put myself in that position again.
And that's why when I saw what was coming with crypto,
I was willing to put everything I had into it.
Financially
Emotionally
Spiritually
Everything in me.
And I pulled that opportunity back to me.
So now,
people look and they see this Lamborghini,
not that I'm driving now,
a Lamborghini, they see, you know, some Gucci glasses, okay?
I had to flash that old Gucci symbol over there.
People see that stuff, and they're like,
"It must be so nice to have so much money. It must be so nice!"
Well, No. 1, it is nice.
It's great!
It's much better than the alternative.
Okay?
But guess what?
I was just a person living paycheck to paycheck
struggling to even be able to afford to go on one of these trips
where I can network and meet people in 2018.
And I would just ask you the question,
when it comes to preparation,
what are you doing to prepare yourself
so you're not--
so you're immune to these market crashes?
Because when you're living and dying on whether the price of Bitcoin goes up or down,
or the stock market goes up or down,
then you're not doing it right.
You fit exactly into the category of retail investor
that they want you to be kept in.
You have to figure out how to break out of that
and get to another level.
That may look like changing businesses.
That may look like making tough decisions.
That may look like, you know.
Maybe you have spending habits that are not good and detrimental.
Whatever the case is,
you have to figure out how to recession-proof your life
before recession hits.
It's too late now, guys.
It's too late for you to go and prepare.
If you didn't pull profits out from the last bull run,
then learn that lesson.
There are a lot of lessons to be gleaned from all this.
There's so much doom and gloom on the market and on the forecast.
And there's certainly a chance that, you know, they could turn around,
but I don't think it's going to, guys.
I do think it's only going to get worse from here.
And you really have to figure out how to keep yourself from getting in the spot again.
It's a long road. It's not easy.
It's not simple.
It doesn't-- it's going to take you longer than a week to figure out what you want to do.
It took me years to figure it out.
I just don't want to give this false--
this false idea on this channel that
you're going to come here during a time when prices are down,
and you're going to accumulate,
and then by next month, you're going to be making a ton of money.
That's not really the way that it works.
That's not how you do this.
It took me nine years to become millionaire in crypto
from the first time I bought Bitcoin to when it actually happened.
Nine years!
It didn't happen overnight.
During a bull run, everything feels like it's happening overnight.
But the problem is the majority of people are coming in
after the people who are prepared,
who have been preparing for a long time.
The people who watch this channel?
Who are millionaires?
There's a lot of them.
They didn't start watching this channel in the middle of 2021.
They were watching before that.
I know I tell you guys this all the time.
And this is not a ploy for me to get you to watch my videos during a bear market.
I promise you,
the people that stick it out through these tough times,
that continue to believe in the larger vision of crypto,
the people who--
you may not watch every day anymore,
you may not watch every video,
which I understand,
but who continue to keep a check on the pulse of the crypto world,
those are the people that make it.
Those are the people that make it.
If you came in here for a quick buck,
you missed it.
It's gone.
You either missed the profits,
or you came in at the wrong time.
But I'm here to give you as close to a promise that I can give to you.
I can't guarantee anything on this channel.
But as close to a promise that I'll give you,
if you stick with us,
not just BitBoy Crypto,
the crypto community, okay?
I don't care if you watch my channel, or you watch a different one.
You find somebody else more interesting?
That's not a real thing.
You might find someone you like more, okay?
That's fine.
Just stay in crypto, I implore you.
Your family needs you.
Your family needs you to break out of this 9-5 paycheck-to-paycheck life.
And I'm here to tell you it is possible.
I've done it.
But it wasn't easy.
Sobering talk for me there,
but I feel like those are things that people need to hear.
And it doesn't feel good. I understand that.
But often the things that hurt the most bring the most change.
Alright, guys. That's all I got.
Be blessed.
BitBoy out.