No longer do we have to hope and pray for cryptocurrency’s survival.
It’s going to make it.
The money is pouring in from institutions everywhere
and no longer are the old guys on Wall Street scared of Bitcoin.
Now, we have to wonder how far can crypto get on the next bull run.
If cryptocurrency goes mainstream,
then you will be among the last early-adopters
as long as you get in now.
Grab your popcorn because when BTC & ETH take the stage,
you need to be ready.
We are going to make sure you have the best seat in the house.
Let’s get it.
Welcome to BitBoy Crypto!
My name is Ben.
Everyday, I show you how to make money in crypto.
If you like money,
then make sure to hit that Subscribe button and tap the bell
so you don't get a case of the BitBoy FOMO.
In this video,
we're gonna focus on the two behemoths at the top of cryptocurrency,
Bitcoin and Ethereum.
It's their time right now.
There's so much going on right now with both of these projects that it is hard to keep up, but we're gonna do our best.
First, let's start with the markets before we jump into the meat of today's video,
where we look at Bitcoin and Ethereum and what they're capable of.
Right now, the overall cap is coming in at $367.7 billion.
Bitcoin dominance has stayed pretty consistent for the last couple of weeks.
According to CoinGecko, it’s coming in at 57.4%.
Now, coming up in a few days, we're gonna be taking a deep dive into the Bitcoin dominance and its relation to altcoin prices for the next bull run.
We already had one mini alt season
and now, interest has certainly died down some.
So, when can we expect ‘Top 5 Altcoin’ videos every week and ‘Moonshots of the Week’ on Friday again?
Well, make sure you come back in a few days as we will be showing you exactly what you can expect over the next couple of months with altcoins.
Bitcoin at the moment, though, is coming in at $11,400.
And a reminder, guys,
I'm giving away a whole Bitcoin
partnered with Tantra Labs labs
over the next two weeks.
All you gotta do is visit enter.bitboy.live to participate.
But the question is,
as we get towards the midway point of the month,
will we see the back half of October as explosive as last year's?
I tend to think the answer is yes.
I actually took a long today on Bitcoin at $11,400
and I think there's a great chance we're back over $12K by the end of next week.
If we are, I'm looking for Bitcoin to push towards $15,000 around the election.
Maybe even higher.
I do not believe though that we will be breaking all-time highs in October or November,
but it is certainly possible for December.
And, oh, what a jolly time that will be!
Ho ho ho!
And I'll say this,
the new year is definitely going to be crazy.
Instead of watching the Big Apple drop,
we may be watching the big orange moon.
That was so cheesy.
So, just a quick reminder though, guys,
I have partnered with Bybit for a promotional event.
Basically, all you gotta do is visit bybit.bitboy.live and register for an account if you don't have one.
Then visit 300.bitboy.live and enter the promo code BITBOY in all caps
to get up to a $300 bonus on your first deposit.
Please make sure you understand leverage Bitcoin trading before you sign up.
But this deal runs until the end of October.
Right now though,
Bitcoin is getting a lot of press
from a lot of important companies and a lot of important sources.
Here are just a few of the recent headlines that we've seen:
Multi-billion dollar asset fund Stone Ridge purchases $115M of Bitcoin
Fidelity makes it clear: Bitcoin volatility is worth the risk for institutions
Publicly traded companies own 601,000 Bitcoins, gain $500 million
JPMorgan calls Square’s $50 million Bitcoin investment ‘strong vote of confidence’ for the cryptocurrency
I mean, pretty unbelievable.
Just a few years ago, these were the people saying crypto would not survive.
Actually, a couple of months ago, I sat on the phone with a Wall Street guy managing billions of dollars in funds.
Very surreal!
And he told me,
people are now paying attention with their eyes and their wallets.
This is a perfect recipe for the biggest bull run in history.
Let me know down below if you think institutions going all in on crypto is a good thing or a bad thing.
Type ‘stay away, boomers’ if you think it's bad.
In addition to Bitcoin, you can also long Ethereum on Bybit.
Now, longing basically means betting the price of an asset will go up.
Now, I've personally taken a long right now on Ethereum with a target above $500.
The price of ETH has crept back up to $381, and nobody's noticed.
Many people believe that as soon as Ethereum is able to crack $400 and turn that into support, $500 will not be that far behind.
Just the fact that people are talking moons again is making me feel good.
But back on Earth,
there is also a lot to like about the fundamentals of Ethereum.
Even though the air has been sucked out of the decentralized finance’s bubble at least for a bit, the need for Ether has not subsided.
While interest in investing in DeFi projects has taken a hit,
Uniswap and other DEXs still remain insanely popular.
And I'm going to be totally honest with you. I had this conversation yesterday.
I don't know if I'll ever use a centralized exchange again.
That's how strong I feel about Uniswap and DEXs.
Maybe I'm a prisoner of the moment.
Now, in just a few,
I'm going to show you a new platform that can help you snipe trades on DEXs.
Yeah, it's really a thing.
But things are starting to shape up as a fierce battle right now
between Bitcoin and Ethereum.
Like, yeah, Ethereum has little chance of passing Bitcoin.
I understand that.
But the chance is not zero.
However, Ethereum does not have to pass Bitcoin to be successful.
You see, in the early 2010s,
Andreas Antonopoulos coined the term “Internet of Money.”
He wrote one of the most popular Bitcoin books with the same name,
and it breaks down Bitcoin better than any other book I've ever read.
But now, alongside the internet of money virtual tower Bitcoin is erecting,
a tower across town is coming out on the horizon.
This one, led by Ethereum, is going to become known as the “Internet of Value.”
Now, at the first glance, they may seem like the same thing.
Money and value are probably distant synonyms, if not closer,
but in this case, they are different representations.
While Bitcoin may never become the digital currency it was made to be,
it is certainly turning money on its head.
If we're honest here,
all blockchain innovation is ultimately due to Bitcoin's early success.
That means in a roundabout way,
and when we do move to a digital currency, be it a crypto or central bank, digital currency,
Bitcoin’s creator, Satoshi Nakamoto, played as big of a role as anyone in the world economic system.
Bitcoin is setting the standard of what a store of value is.
It has become known by many, including myself, as digital gold,
and it is better than physical gold for a myriad of reasons.
Eventually, gold itself will probably be tokenized,
sooner rather than later, most likely.
Bitcoin checks off all the boxes to be a sound currency and store value,
but when it comes to fulfilling the need as the digital currency and electronic payment system,
it just isn’t fast enough and it can't scale quickly.
And this is where Ethereum comes in as the ‘Internet of Value.’
To this point, we've been restricted on the internet,
walls separating our money and credit cards from our online experience,
walls separating us from our own data and privacy,
walls separating us from being able to invest directly into stocks
or even buy gold direct.
But with Ethereum’s rise, this will eventually be no more.
According to guest writer, Camila Russo, on CoinDesk,
she makes this case,
"The internet is ruled by innovation-stifling monopolies
that have stopped us from having an internet-of-value.
Organizations built on top of the current internet network
have almost no other option than to become for-profit corporations,
with code that's proprietary and closed to the public.
But when the network itself is designed to transfer value,
it enables different business models to emerge.
In this new frontier,
users retain control of their funds and their personal information.
They roam freely without bowing to any king.
Value---that is, money, assets, securities, property---
is as native to internet apps as cat videos.
And it's already happening."
I couldn't have said it better myself.
We are talking about a fundamental shift to the internet.
And personally, I believe this goes beyond just crypto and the internet.
The next boom we are gonna see in the world is the digitalization boom,
where everything goes virtual and is connected via the internet through smart devices.
Cryptocurrency is but one part of this digitalization and tokenization that is coming.
If Ethereum does drive this boom,
then it will far exceed even its creators’ expectations,
or maybe yours for your portfolio.
Let me know down below in the comments if you think Ethereum can take over the digital world.
Now, being able to beat expectations could be something similar to what we've already seen with DEXs or decentralized exchanges.
One day, we thought they were irrelevant.
Seemingly, the next week, it was all we wanted to use in crypto.
The transition happened much quicker than I would have ever imagined.
Sometimes, innovation breeds more innovation in order to keep up.
When Uniswap launched,
no one imagined where it would take us,
not even Uniswap themselves.
But with the ease of use of Uniswap and DEXs,
there's definitely been a downside.
Centralized exchanges allowed us to set orders,
buys and sells based on certain price levels in automated trading,
and that just hasn't been possible so far with DEXs.
The solutions though for this are just now being developed.
The solution the furthest ahead of the game for these problems is UniTrade,
a project we've covered before on the channel.
Well, big news is their platform is now officially launched.
You can find it at unitrade.info.
Next week, we'll actually be doing a full tutorial on the new platform,
and I'll walk you guys through some trades and how to use everything.
But today, we want to focus on what has been happening with the project whose native token is TRADE.
And, of course, thank you to UniTrade for sponsoring this segment.
But a ton of you guys have been asking me to do an update on it.
It's a very legit project.
Their platform is absolutely incredible.
I can't wait to show you everything it has to offer next week.
But here is a preview.
When you scroll to the bottom of the page,
you will see the Trade platform is built to resemble the buy and sell order style of centralized exchanges.
Pretty nifty.
Got a big learning curve.
You can see a selection of coins on unitrade.info,
but they also have the unitrade.app,
which you can read more about on their Medium page seen here.
But there is an even newer and more sleek design coming to unitrade.app.
And I happen to have some screenshots directly from the team
because
I'm so connected.
As you can see here though,
the app combines the best of the limit order functionality with the killer UI of Uniswap.
Get a good look at this layout because we will be using this a lot in the future.
Some other things that UniTrade has going on include a staking smart contract,
getting audited in the next 5-7 days, so it will be complete early next week.
Now, 40% of the fees generated on Uniswap will go directly to the stakers on a pro rata basis in the form of ETH.
The audit will be complete before this starts though,
but is happening soon.
UniTrade will also be burning 500,000 TRADE tokens to commemorate the launch of the staking contracts next week.
When I was a kid,
we just let a balloon go
or a ribbon cutting when we want to commemorate something,
but UniTrade prefers to burn tokens.
That's okay as long as they let me have a plaque that says
‘In remembrance of Ol’ BitBoy.’
But of course, we will have more next week about the staking and the utility of the TRADE token.
Let me know what you think about this project.
Will you use the platform?
That's all I got.
Be blessed.
BitBoy out.