Welcome to BitBoy Crypto!
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My name is Ben.
Everyday on this channel, I show you how to make money in crypto.
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Guys, this weekend, kind of boring, huh?
Price action not really been the greatest,
hasn't been the worst,
not a lot of volatility.
I've noticed trading volume is down over the weekend considerably,
which, I mean, you know, that's pretty standard. That's pretty par for the course.
But people just don't really know where Bitcoin and Ethereum are heading right now.
If you watch this channel, you know where I think it's heading
in the short term, over the next four to five weeks or so.
I'll just lay on it a little bit here.
But that's not what I want to talk about today.
What I want to talk about today, which-- by the way, I meant to make a video last night,
and I forgot.
I forgot to make a video. Can you guys believe that?
That never happens.
But anyways, I want to update you guys on some stuff about the crypto markets,
and in this video, I want to talk to you guys about my crypto exit strategy,
my profit-taking strategy for crypto,
based on what I think is going to happen in the markets over the next few weeks and months.
Okay?
So-- and the reason why I want to do this is because I've got a lot of people reaching out to me,
people I know personally,
you know, of course, we always have people asking questions from the channel,
which is great,
but I'm talking about people I know in my real life,
and they're messaging me saying,
"Hey, I think it's time to pull out my profits. I think it's time to take the money and run."
Well, at this point with Bitcoin back around $50,000 after we saw the depths of $30,000,
I wouldn't blame anyone for taking profits right now, but in my opinion, that is not the optimal move.
You know, pulling profits is always okay,
so if you want to take out maybe original investment or take out a decent chunk,
well, whatever the case may be, I think there's nothing wrong with that.
But when it comes to my personal crypto exit strategy--
now, you have to understand when I say crypto exit strategy,
this is a short-term exit.
This is not a long-term exit when you sell tops.
This is not giving up on crypto. This is actually the opposite.
You're selling the top--
like, let's say I have one Bitcoin,
and I sell the top at $100,000.
Well, if you take that $100,000,
and you go buy a boat with it,
okay, now you've exited the crypto markets.
You took profits.
You're not really trying to get back into crypto with that money.
That's not what I do and what we do at BitBoy Crypto.
What we do is we sell tops-- so if I had a Bitcoin,
I would sell that Bitcoin for $100,000 in stablecoins.
I would leave it there throughout the bear market.
And when Bitcoin drops back down to $20,000, which is totally likely after it hits $100K,
now, how many Bitcoin do I have?
Now, I have five Bitcoin.
So I've taken one Bitcoin,
moved it into $100,000,
sold the top,
bought five Bitcoin at the bottom when it hits $20K or somewhere thereabouts.
Now, when Bitcoin goes up to my estimated price prediction for the next market of $250,000,
I have just turned $100,000 into $1.25 million.
That's how you make money in crypto. Okay?
These are long-term moves.
You're not doing anything to cash out to buy a boat and get out of crypto,
or buy a car or buy a house, whatever the case may be.
You've got to be able to think long term and accumulating more crypto.
So people will, you know, say, "Oh, these people that sold at the top, they're traders to crypto."
No, no. They're true believers in crypto
because they are positioning themselves to accumulate more over time.
You want to turn $100,000 into $1.25 million?
I just gave you the math.
Those are very realistic numbers.
Of course, that will be in 2025 most likely, in four years when it hits that.
Some people believe it can go even higher.
But that's how you take advantage of the crypto markets and you accumulate for the future.
Now, you can do a mix, of course.
You know, you could take some profits and cash it out,
and then set others to the side that you want to get back into crypto with.
That would be totally okay.
So, what are the price targets that I'm looking at and the timelines at taking profits in this market?
I think it's a great time to talk about it while we're in this lull of crypto
over the last week because I think it's going to go up fast and furiously very soon.
So, what am I looking at?
Look, our target for Bitcoin is $100,000.
Does that mean I'm going to wait until it hits $100,000 and then sell my crypto?
Well, not necessarily.
When Bitcoin gets above $75,000, we are going to consider taking some profits. Okay?
When Bitcoin hits $90,000,
we are probably going to cash out a lot of what we have in Bitcoin.
When it hits $100,000 to $110,000,
we will cash out a bigger percentage.
I think we're looking at probably cashing out and putting in stablecoins to accumulate for later
probably about 80% of all of our crypto.
About 80% of all of our crypto.
That leaves us with 20%.
In case we're wrong and prices continue to go parabolic and Bitcoin goes to $400,000,
well, we still made a lot of money. Okay?
But this protects us from what we believe will be a bear market crash.
So those are my numbers I'm looking at for Bitcoin.
Now, what's the timeline on that?
Probably about the first week of October at the current rate we're going.
I've always said September 28 should be the end,
give or take a week.
I'm starting to think maybe it could extend one extra week after that.
Well, we'll see, but, you know.
I'm going to go with what I believe,
and so probably about the first week of October is when we will be taking a look at pulling out
a large percentage of our portfolio as long as the numbers are aligning.
If we're at $55,000 on October 10,
well, that kind of changes things, but I don't think that's what we're going to see.
So, when it comes to altcoins, what am I looking at doing?
Well, the altcoin market might continue for a lot longer than the Bitcoin market,
but I do believe, by the end of the year, that will be over.
So, what are some price targets we're looking at?
Well--
and I meant to mention this with Bitcoin.
If your price target is $100,000,
you should be pulling profits out before it gets there
because when you have that price target,
a lot of other people have that price target,
and sometimes what can end up happening is people start selling off a little bit before it gets to that number,
and then momentum carries it down, and then it never actually reaches that number.
So you've got to think about kind of a baked in price near your target to start pulling profits out.
For Ethereum, our target is anywhere from $8,000 to $12,000.
So when Ethereum gets to about $7,000,
that's probably where we'll start looking at pulling profits.
For Cardano, $8 to $12.
We're going to start pulling some profits around $6,
and then if it continues upward from there,
which I believe that it will,
we're going to look somewhere in $8 to $10 range to take more,
keeping 20% in in case it continues to go up and we're wrong,
which, you know, other than my wife,
nobody believes I'm wrong.
I'm just kidding. She thinks I'm right most of the time.
But-- so the point here is,
is that you need to have targets in mind.
Now, what's the timeline on that?
Somewhere around Halloween is--
Halloween to Thanksgiving, in that range, first week or two of November,
that is when we think we are going to see things go sideways-- or actually go down.
So those are some of my price targets.
That's what I'm thinking now.
What does it mean to actually pull profits?
Well, it means you're making a transaction and you're moving your crypto either into a stablecoin
or you could also be moving it into actual dollars selling it on Coinbase.
If you're planning to accumulate,
then I believe probably selling--
I believe moving to stablecoins is probably your better move.
So I think that is something that, you know, you should definitely think about doing.
So alright, guys. That's it.
That is my crypto exit strategy, crypto profit-taking strategy.
Moving 80% of my crypto into stablecoins when we get to the top
in order to accumulate more down the road.
This is how you go from a hundred-thousandaire to a millionaire.
This is how you go from a millionaire to a hundred-millionaire.
This is how you go from a hundred-millionaire to a billionaire in crypto.
I think there's over 30 crypto billionaires out there.
So it definitely is possible.
You've just got to keep your eyes forward and make smart moves.
Alright, guys. That's all I got.
Be back tomorrow.
Be blessed.
BitBoy out.