Most people interested in cryptocurrency are interested for one reason and one reason only---
life-changing gains that produces financial freedom,
early retirement,
and for many of you, for the first time ever,
girlfriends.
But the truth is many of the people who are reaping these benefits
already bought into crypto a while back.
I've been here for years,
and I can tell you that the gains are sweet.
But have you missed the opportunity to become a millionaire in crypto?
Can Ethereum still make you a millionaire?
Or have you completely missed out?
We answer those questions and more today.
Let's get it!
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Welcome to BitBoy Crypto!
My name is Ben.
Everyday on this channel, I show you how to make money in cryptocurrency.
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so more people can find out about Ethereum.
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Now, in this video, we are going to be discussing Ethereum.
It hit all-time highs today, and people are freaking out.
Meanwhile, they're also wondering, "How high will Ethereum go?"
Then we'll be discussing a killer strategy
you can use in order to make the most money possible.
Some of it is a little risky, so
speculation warning.
But these are proven ways people have made money.
One guy literally turned $800 into a million over the summer.
This happened with the DeFi craze.
Now, if you want to find out how he did it,
make sure to stay tuned all the way until the end of this video.
I believe lightning has the opportunity to strike twice with DeFi,
so you're definitely going to want to pay attention.
But we have to start with what is going on with the Ethereum price
and the further potential explosion for it.
As of this moment,
the price of Ethereum has dipped back down under $1400 to $1386,
but by the time you watch this,
the price could be well above all-time highs,
or it could be back down below $1300.
Just keep in mind,
the actual current price of Ethereum is not drastically important
for where the price is heading in the relative short term.
And by that, I mean in the next few weeks.
According to the CoinMarketCap chart of Ethereum,
it is now firmly at all-time highs.
But this is totally dependent upon which exchange you use as a reference point or an indicator.
CoinMarketCap uses the weekly chart and aggregate prices,
but some exchanges showed higher prices for Ethereum in 2018
than anything on CoinMarketCap.
In general, there were three prices people were honing in on---
$1448, which was the highest price any exchange showed during that time in 2018,
$1428,
and then $1418.
$1428 is the general price most people use as the all-time high number.
Earlier today, the $1448 number was challenged,
and the $1418 price was definitely broken,
so was $1428.
I feel confident in saying most people consider the price of Ethereum overnight
to have hit a new all-time high.
But here's the thing.
Just like we see with Bitcoin,
I'm very confident that the price of Ethereum will set many new all-time highs
over about the next three weeks and beyond.
We're seeing the price of Ethereum break out the same way we saw the price of Bitcoin break out
once it pierced all-time highs.
This helps us to understand how our top crypto assets may perform once they break all-time highs.
The Ethereum run is going to be an interesting case study to examine
as we anticipate new all-time highs for other projects that were popular in 2017 and in January of 2018
during our last true altcoin season.
Those projects to watch would include Bitcoin Cash, Litecoin, Cardano and others.
So you need to be paying close attention to Ethereum over the next few days and weeks.
So checking out what Bitcoin did when it broke all-time highs,
you would see that over a period of 24 days, 23 days and 20 hours to be exact,
the price broke out a total of 113% before running into rejection at $42,000 and floundering for a bit.
We also though, by the way, have reason to believe that Bitcoin is getting ready to break out again soon,
but that's for a different video.
Remember that for all those guys that flip flopped every other day
when we tell you prices are on the move upwards.
Since Bitcoin is the only asset though we really have to compare Ethereum to,
let's examine what Ethereum could do if it follows a similar track.
Here's a chart showing the likely path of Ethereum.
And if you want to get excited, then now's the time.
If Ethereum follows this track,
the price of one Ethereum will be over $3,000 before Valentine's Day.
By February 12 to be exact.
For me personally, I'm going to actually be conservative on my next Ethereum prediction.
Let's go over my track record for big predictions.
I said early last year that the price of Bitcoin would hit all-time highs on December 23rd of 2020,
give or take a week.
Exactly seven days before December 23rd, on the 16th, Bitcoin hit all-time highs.
For Ethereum, I said we would hit all-time highs on January 17.
Early on January 19, today, literally less than 30 hours after I predicted,
Ethereum hit all-time highs.
So you should probably listen to what I'm telling you here.
Ethereum will be hitting $2500 by Valentine's Day.
This is the move that we have been anticipating and I've been talking about forever.
I expect Bitcoin to be somewhere close to $50,000 by Valentine's Day,
meaning that Ethereum will be climbing in its Bitcoin percentage.
We've discussed if the Ethereum price can get to even 8% of the price of one Bitcoin,
we could be looking at $27,000 Ethereum if Bitcoin cooperates.
With Ethereum at $2500 and Bitcoin at $50,000,
we would already be seeing that number double from where it was a couple of weeks ago at 2.5%
all the way to 5% of Bitcoin's price.
If not, higher.
Okay, so Ethereum basically 2.5X's in about a month.
Pretty good.
But unless you had $400,000 in Ethereum before that, it won't make you a millionaire.
So how can you turn a small amount into a large fortune?
Hold on and let us pause for a speculation warning.
Speculation Warning!
The following information can lead to you making massive amounts of money
or losing all of your money and becoming homeless.
The answer to the million dollar question is DeFi or decentralized finance.
We were making a killing over the summer with projects hitting the moon left and right.
Decentralized finance is the future of not just Ethereum but crypto in general.
And it makes sense.
Cryptocurrency is a financial market.
And DeFi is the manifestation of blockchain in the financial sector.
So put two and two together, and you get four.
$4 million potentially!
But a quick look at DeFi Pulse shows that there's $25 billion locked up in DeFi.
If we examine a little bit further and break that down,
you see that that's actually about 7 million ETH locked up.
That's 6% of all Ethereum locked up in DeFi.
That's pretty good.
But counting the Ether locked up in validator nodes for ETH 2.0,
that number is actually a much higher percent.
This is great news for the Ethereum price.
And the institutional run of FOMO into Ethereum we've talked about for a long time
hasn't even come close to happening yet.
But the deeper news and analysis here is that there's a ton of opportunity in DeFi.
Obviously, looking at DeFi blue chip coins,
like Aave, Synthetix, Maker, Compound, Yearn Finance, Curve and others,
is a solid strategy.
We've been adding to our DeFi holdings like crazy lately,
and it's been paying off.
But there are a lot of other strategies we can use to turn a little into a lot.
One less degenerate strategy than throwing all your money in random finance coins
is to forecast the huge amount of problems the Ethereum network is going to have
if we truly are under round 2 of the DeFi pump.
Looking back at the Ethereum pump over August last year,
you would have noticed the largest moves were coinciding with the DeFi craze.
This was when things were absolutely exploding in DeFi and for Ethereum.
I mean, the price doubled in a few days.
Very similar to what we've just seen over the last month.
But with this explosion came some harsh realities for Ethereum.
It just can't scale as is.
Gas fees were probably the ultimate factor in pushing the price of Ethereum lower
and popping round 1 of the DeFi bubble.
Gas fees were upwards of $100 per transaction.
For smaller traders, that negates a lot of their profits.
So because of this,
we can see a huge opportunity bubbling up for the likes of Cardano, Polkadot, Cosmos,
Binance Smart Chain, Tezos and others.
The glaring weakness of Ethereum at the peak of the next DeFi swell
will likely leave opportunity for other protocols and platforms to pump
on the speculation that they could fix the ETH gas problems.
But the most degenerate way people can turn a little into a lot over the next few months
will be by betting on super small and new finance coins.
Now, before we get into how one trader turned $800 into a million,
I want to explain what we will be doing on this channel during this time.
Over the last DeFi run, we covered a ton of those smaller high-gain-yielding projects.
Some of them were even sponsored.
But on this next run,
we're not going to be focusing on those really, really small coins a ton again.
As you'll see, looking at this story, to make life-changing money though,
you do have to take big risks on getting rug pulled.
But we just feel like our responsibility in this phase on this channel has grown so much over the last year,
we can't take the risk of letting people get wrecked
even though it is part of the game.
Those losses are baked in to the big gains people get.
So if you're a small finance coin, don't be contacting this channel.
We won't be covering them unless they are blue chippers,
like Aave, Synthetix, etc.
But this guy Razor or @razoreth on Twitter posted a thread on how he turned $800 into $1 million.
You can visit his Twitter account to see the entire thread.
But here's the deal.
This guy's been in crypto a while, so he gets the game.
He understands it.
But in August of this year,
Razor started with 1.8 ETH and ended it with over 500 ETH
by flipping coins in the DeFi space.
By the end of the month, he started piling in 50-100 ETH and anything that could go up.
Some of them familiar to me.
In many of those projects though, he lost money on due to rug pull scams.
These are huge in the space.
And I personally fell victim to rug pulls and yield farming projects with dumpamentals
to the tune of six figures in the last DeFi run,
so I get it.
And I told you guys then,
if you want to make money in this DeFi craze,
you have to build in huge losses to your profit strategy.
While I lost to a lot of these scams and bad projects,
the ones that hit made me much more money than the ones that exited.
So the long and short of it is that you have to have balls of steel
and be willing to take big losses to cash out the biggest gains.
But just remember,
it comes with risk.
So if you are risk-averse,
you just park yourself an ETH and watch the gains come in.
You will likely get a girlfriend by Valentine's Day.
I guess there's a first time for everything.
But, guys, where do you think ETH is heading to?
Also, do you think that we are heading to round 2 of the DeFi craze?
Drop your predictions for that down below.
And also don't forget to smash the like button for us on your way out.
That's all I got.
Be blessed.
BitBoy out.