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It probably just means more people will be mad at me after this epic Bitcoin dump.
My name is Ben.
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you like staying updated on what's poppin’,
or in this case,
dumping.
Guys, Bitcoin has just had an epic fall from grace,
going from almost $50,000 last night all the way down to $46,000.
And, yes, that's right.
You did read the title correctly.
I lost $150,000 on a leverage trade, actually two leveraged trades.
I got liquidated. I think I lost about 3 BTC total.
A little bit over three.
And am I worried about it?
No.
Did it happen? Yes.
Was I chasing?
Doing exactly what I tell you guys not to do?
Yes.
Happens, guys.
You know, I did make, I think, about a Bitcoin and a half-- about two Bitcoin over the last couple days.
I just lost three and a half, so I'm down still about half a Bitty.
But that's money that I basically made Thursday and Friday,
so we just wiped out our gains for the last few days.
And here's what I'll say about that.
Usually, chasing these dumps down if you think you've got some points,
the reason why I got liquidated, not once but twice,
was because I was really looking at a support line,
and once it wicked down to the support line and then came back up,
I said, “Okay, I'm going to go in harder right here.”
And that was just part one of the dump.
The next trend line is down somewhere around $44,000-ish.
I don't think we're going to get all the way down there.
A lot you guys have no, you know, by this point, now, it could change.
It looks like we have botto-- have bounced back up,
and of course, what did I do?
I caught it right at the bottom again, so,
you know, coincidentally, I've been trying out some 50X leverage. Now,
once again,
if you'd like to sign up for Bybit, please do that.
If you're new to Bybit or new to leverage trading,
you know, don't start with 50X.
So, all you’ve got to do is go to bitboycrypto.com/deals.
And I coincidentally had just started playing with 50X leverage yesterday,
trying it out a little bit. It was going pretty well, not the best.
I mean, I had made a little bit, maybe about a quarter to a half a Bitcoin,
somewhere in that range, I think it was about a quarter of a Bitcoin.
And, you know, then today, ugh! It got me. My liquidation points were so low.
I have not seen Bitcoin dump this hard this quickly in a long, long, long time.
So what does this tell us? It tells us that most likely this is manipulation.
The good thing is, as I tell you guys, you know,
make sure you always still have money loaded in your account money behind
in case you do get liquidated or stopped out, you can go back in,
so I was able to go back in right at 40--
I can't remember what the number is now.
I think $46,000 is where I got back in, I think.
I can't remember what the numbers are right now. I don't have the trade in front of me.
It dumped so much.
It's kind of-- it's kind of like this.
Do you know how old you are?
You might have to think about it.
If you're over the age of 23 or 24, and I say how old you are,
unless you've been saying it a lot, you're like, "Wait. How old am I? Am I 36? 30--
I think I'm 38 years old."
My son told me a couple weeks ago. He said, "Dad, you'll be 40 next year."
I was like, "You gotta be kidding me. He's-- He's correct."
So that's something we're banned from saying in this house now.
I'm 39 this year. 40 next year. Scary stuff.
But that's how quickly the Bitcoin price moved.
I, like, lost, you know, my bearings!
Like, where's even the price right now?
I don't even know it di-- it dropped so fast and so hard.
But the thing is I got in near the very, very bottom of this dip.
It looks like it's going to stabilize hopefully.
Hopefully, we'll make most of our Bitcoin back.
We've already done pretty well.
We've already got a good chunk of it back, but
you know, like I said, it wiped out the gains from last few days
as long as we don't get liquidated again, which wouldn't be the best thing.
Now, I did go and check the hourly on F2Pool,
and it doesn't look like F2Pool is the reason for this dump right now.
And that speaks to maybe a higher level of manipulation coming in.
A lot of bullish stuff on the markets,
Mark Cuban's talking about how Ethereum is a better opportunity than Bitcoin right now.
A lot of people I know, a lot of you guys are worried about Ethereum right now,
and I'll be honest with you. I'm a little worried about it myself.
And that's why we are going to be doing a full investigation on that this week.
We might, tomorrow, kind of talk about a few of the things we think
could be contributing to Ethereum's lack of pop over the last few days that we were expecting.
We may put a full video out on it, so if you want a full video out on that,
a full scripted video, make sure to drop that down below.
So, definitely full ETH investigation coming.
Some people are just saying they think it's the gas fees, the gas fees,
but I don't think so
because what we're really counting on is the institutional money coming in to pump it hard,
and we're seeing that.
We're seeing Grayscale make a lot of buys.
And so, to me, it makes more sense that if it's not minor dumping,
which we'll-- we're going to get down to the bottom of,
then, in that case, it is going to be institutional, you know, manipulation pressing the price down.
I don't think that this is just--
I don't think we're going to end this investigation and say,
"Oh, well, ETH isn't just performing that great."
I mean, you see stuff like Mark Cuban's saying.
It lines up.
You got the richest people in the world saying it.
I don't think it's going to come down to just random. Like, "Ah, it's just not pumping."
Like, that's not going to be the case,
or there's going to be something we're going to be able to point to and say,
"That's the thing."
So, as far as Bitcoin goes, what I'm doing right now, I'm trying to make-- I'm trying to lick my wounds.
Lick my wounds is what I'm trying to do.
But you guys know, we're-- we'll show you the trades tomorrow.
We'll show you how we got liquidated and--
Was I really following Market Cipher when I was making these trades?
No, I was FOMOing in on bottoms, which, I mean, guys,
let's be honest. We get dips this big, it's kind of--
they can be so fast. If you can catch that wick where the wick is, I mean, it's really advantageous.
But really what cost me this much money was the fact that earlier today,
I took a nap because you guys know, I mean, I run exhausted all the time. You guys know that.
We run nonstop here. Why? For you, for the BitSquad.
And we want to give you guys as much information as possible.
So, what happened is, earlier today, my back, I was having some back problems today.
My back's been doing better.
Shout-out to my-- to my chiro, Lake Pointe Wellness.
Shout out to them. Dr. Deb, boom, boom!
Making me feel great, but my back's been hurting a little bit this weekend,
and so, you know, I went-- had to take a little nap today, put the TENS machine on and, you know,
passed out at about 4:30, and I woke up at 8:30.
If I just would have stayed asleep,
I wouldn't have lost all the money, so there you go.
That is the secret strategy on how not to lose three Bitcoin,
is to just stay asleep when it's so late. There's no reason for you to get up.
But the good news is I've been able to come in here and make this video and talk to you guys about it
because you know, here, we always have our pulse on the market, on what's happening,
so the volume came in really, really large to the downside.
That probably definitely affected everything.
We don't know yet. I mean, it's still very early. I mean this is like, you know, you got a big disaster,
some kind of attack or something, and so you go and you--
you know, the FBI they-- they kind of, you know, put tape around the area.
They're doing their investigation.
They can't really tell you what happened at first.
Might have some theories based on some evidence that they might have seen initially, but
that's what we're doing right now. We just taped off the scene,
and now we are jumping in to try to figure out exactly what it was that caused this dump.
We do know that Bitcoin was coming to the edge of a, you know, to a decision point,
and it popped to the downside.
Will it pop back up? We'll have to find out that tomorrow.
We'll be back on the livestream tomorrow morning for you guys.
So drop your comments down below.
I want to know what you guys think is causing this dump.
That's all I got.
Be blessed.
BitBoy out.