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My name is Ben.
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Alright, guys. Today, we're going to be talking about Ethereum
because I know a lot of you guys, you know, have been disappointed with the price action,
and so have I,
and I've been telling you guys for a long time that, you know, obviously, there's some minor selling going on.
There's some price manipulation.
But today, if you want the Ethereum hopium,
we have got it here for you.
The price of Bitcoin right now by the way is heading up above $60K, it looks like.
And it's building slowly as opposed to the last few times it's kind of just popped up there and popped back down.
So that's obviously good news for Bitcoin,
and we really need Bitcoin to go to a higher level
in order to get to Ethereum where we want it to go at this point.
The long and short of it is once Bitcoin tackles let's say $70K or $80K,
and then we get a decent correction based upon profit taking,
there's a lot of people that are now suspecting that all of that is going to Ethereum.
Now, here's some insane news about--
and we'll get back to Ethereum in a second,
but here's some insane news about the stimulus, okay?
10% of people surveyed who received or are receiving a $1400 stimulus check or more
based upon the number of people in their family,
10% of them are interested in investing in Bitcoin.
Imagine.
Imagine if all of that money,
10% of a $1.9 trillion stimulus comes flowing into Bitcoin,
what that could mean.
It could mean absolute fireworks.
We're looking at a lot of institutional channels still continuing to put money into Bitcoin.
We have Anthony Scaramucci of SkyBridge Capital now discussing and now launching his own Bitcoin ETF.
He filed it with the SEC.
It still has to get approval.
But there's a lot of people who are now believing that Bitcoin itself has a great value proposition, okay?
We have Bank of America that just did a bunch of research on Bitcoin.
They tried to figure out how much it would take for them to move the price of Bitcoin 1%,
which is $93 million.
That's all it would take for it to move 1%, okay?
But there's a lot of other research firms that have been piggybacking on Bank of America's research.
And here's what they're saying.
They're saying, and this is some of the same stuff I've told you for a long time,
the value proposition of Bitcoin is value.
That's it.
The reason why people invest money into Bitcoin is because it increases in value.
The sheer price appreciation of Bitcoin is why corporations, institutions and retail investors
are putting money into Bitcoin.
No one thinks Bitcoin can do anything because it can't really.
It's actually not the best technology in the world of blockchain by even a little bit,
or it's basically not going to be the fastest tech.
It's not the superior tech in blockchain.
There are a lot of other cryptocurrencies that offer so much more.
That's what Bank of America and other research firms are coming to the realization.
I just read an article this morning which just-- it blew my mind
that these large banks and large research firms are figuring out
that Bitcoin doesn't do anything except for make money.
That's it.
But what does? What does make money?
That's right-- or what does do more than Bitcoin?
That's right.
It's Ethereum.
And what is going to be the biggest opportunity possibly in the history of mankind?
Decentralized finance.
It is where--
DeFi is the corner of tech and finance.
Cryptocurrency is money, right?
So it makes sense that the number one niche in cryptocurrency is going to be the money niche,
which is decentralized finance.
And a company like Bank of America that did this research and figured out a lot of this,
they're realizing the same thing.
These banks are are seeing what's going to happen if they don't adapt to this new paradigm.
And so let's talk about Ethereum versus Bitcoin performance.
It's actually quite different than you may think.
You may be thinking that Bitcoin has way wildly outperformed Ethereum this year.
It's actually not true.
Even with as laggy as the price has been,
Ethereum is still up 240% even more as of today
as the price is heading back towards $1900 it looks like.
Okay?
Well, Bitcoin has gone up about 207% which probably as of right now is closer to about 212% or 213%
due to the price popping off a little bit today.
Still, with everything being taken into consideration, Ethereum has still outperformed Bitcoin this year.
But this is where Ethereum has lagged.
Bitcoin is up 175% from its all-time high.
Meanwhile, Ethereum-- or from its previous all-time high.
So from $20,000 to where it sits right now,
Bitcoin increased 175% over the previous all-time high.
Ethereum, on the other hand, has only outperformed its previous all-time high in 2018 by about 25%.
So when you start to do the math,
and you start to look at where Bitcoin is,
how much it has popped,
and a lot of the reason why we were making big Ethereum predictions
was based upon the fact of Bitcoin's performance after it charged past its previous all-time high,
and we were trying to apply that to Ethereum.
This is what we know though.
We know that not only has Ethereum outperformed Bitcoin this year,
Ethereum has outperformed Bitcoin almost every year in its existence.
So right now, while Ethereum has lagged behind in hitting a jump point
to get to the same kind of level as Bitcoin,
which, by the way, if it were to go up 175% past its previous all-time high,
if Ethereum did,
we would be looking at over a $3000 Ethereum, okay?
Or somewhere thereabouts.
And the fact is, it's not even close to that.
There was two options that were trade-- that were bet on today for the end of the year.
Do you know what the price is?
$25,000 for Ethereum.
That is what some traders are betting on on one of the world's biggest options trading sites,
a $25,000 Ethereum by the end of the year.
And this is why it doesn't matter how many people get in the comments and say,
"Oh, Ethereum is not doing well. Bitcoin is going to do better. Cardano--"
we love Cardano, but, you know,
"Sell your Ethereum. Get in Cardano."
No, no, no, no, no, guys.
We buy Cardano in addition to Ethereum.
We buy Polkadot in addition to Ethereum
because when it hits, when it pops, we are all going to get rewarded.
And when you look at some of the big numbers that big traders are betting on
by the end of this year for Ethereum,
it's absolutely massive.
When you have Bank of America coming out and saying,
"Oh, you know what? We think Ethereum actually may have more potential because it does things."
That is massive potential.
When you look at where we're at with the Bitcoin all-time high
compared to Ethereum's lagging all-time high performance compared to Bitcoin,
you know one thing.
It's not going to just go away.
It's going to eventually catch that number and pass it.
You have probably not been in the crypto markets long enough,
most of you haven't,
to know, Bitcoin, more gradual moves and then goes parabolic towards the end,
Ethereum will stagnate for long periods of time and then get gigantic pumps.
And that's what we're waiting on.
And I tell you guys what,
when it finally does happen,
it's going to be a great day for the BitSquad.
I know that.
And I am expecting Ethereum's price to be charging back towards $2000 in the very near future.
Let's just see what happens with Bitcoin.
Like I said, I'm thinking Bitcoin's about to break out.
I think Ethereum is going to follow right behind it.
And I think that a lot of the institutional investors
like we looked at on our video yesterday on our livestream,
they are also betting on a higher Ethereum price.
Be on the lookout.
Ethereum is about to explode.
I'm very, very, very confident that in the next few weeks,
a lot of people are going to be second-guessing selling their ETH.
Alright, guys. Let me know what you guys think down below in the comments.
I know you guys love these Hellcat videos. I get out and ride around in the old Hellcat.
Also, don't forget to check out our Hit Network videos
where you can see Jim get a nice shiny C8 Corvette.
Alright, guys. That's all I got.
Be blessed.
BitBoy out.