Welcome to BitBoy Crypto! The largest crypto channel in all the Interwebs.
My name is Ben.
Everyday on this channel, I show you how to make money in crypto.
If you like money and you like crypto,
then, heck, go and hit that subscribe button.
We got a big contest announcement coming next week.
Hopefully on Monday.
If I remember.
Guys, here's the thing.
We got a lot to talk about today.
And it all revolves around something that is going on right now
that is incredibly important.
No, I'm not talking about me being on vacation.
I'm not even talking about me wearing a backwards Braves hat.
I'm not even talking about my shades.
But I do look good.
What I want to talk to you guys about is the G7 Summit
and what we should be looking for.
So if you haven't been paying attention to the 4-hour chart,
we've been on a little bit of a dip here, and it is not looking good
like our usual Friday afternoon breakdown.
If you guys know,
futures contracts close on Friday afternoons,
so we are possibly going to see some downward action throughout this afternoon.
The last couple of weekends,
it hasn't necessarily led into complete bloody disasters,
you know, like we had been accustomed to for many months before that.
So just in terms of the price of Bitcoin for the moment,
we should be watching these futures contracts close today and see what happens tomorrow.
I think trading on the weekend isn't necessarily a great idea right now.
But next week, we've got another big announcement for a Phemex contest
where we're going to be doing a BitSquad team.
We can compete together in trying to win some awesome prizes.
Obviously, monies, am I right?
So you can get more information on that by heading over to Phemex,
but you can go to bitboycrypto.com/deals
and then go to the Phemex signup. Go and sign up.
And we'll have the contest link up for you guys next week.
But the point is
over the weekend right now,
I'm not doing a lot of trading. Why?
Well, first and foremost,
I'm in a beach right now. I'm in Miami. You guys can see it back there.
Looking good.
I found some BitSquad members already down here,
so it's been awesome.
But this is just a getaway.
Just hanging out.
Last weekend was work.
This weekend is pleasure.
But I've got to still come to you guys and tell you the news, right?
Because crypto doesn't stop.
This G7 Summit. So what is the G7?
This is a collection of "limeral"--
limeral
I never liked limes--
liberal democracies that includes
Canada, the United States, the UK, France, Italy, Germany and Japan.
That's seven right there.
Now, some of the main things on the agenda, they're obviously talking about the pandemic.
One of the big news stories that came out from day 1 here
is they're going to be donating a lot of those shots that people get to prevent the pandemic,
if you guys pick up what I'm saying there.
They're going to be sending, I think, a billion dollars worth of those
or a billion of them to poor countries
and things like that. So great, yada, yada, yada, who cares?
Next thing they're going to be talking about two major-- well, really, three major things.
No. 1 is a post pandemic society. What is it going to look like?
It's going to look more feminine, guys.
That's the big takeaway.
Going to look more feminine.
I don't know if you guys saw JChains.
He shaved his beard recently, so he's heading in that direction as well.
That was a cheap shot, okay?
But the fact is
is that that's one thing they're talking about.
You guys know, like, societal norms and stuff like that.
Things are changing. It's a weird world right now in my opinion.
And it's probably going to get weirder.
So that's one thing.
It shouldn't really affect that much of, you know, on our day to day lives necessarily.
The other two things,
the second thing is cyber criminal activity from Russia.
So Russia is not in the G7.
It's in the larger G20 I think.
But it is not in the G7.
So what this means is they really-- now, guys,
I don't know. I'm just saying propaganda, pipeline attack, hacks, whatever.
This just happened. We had the Colonial Pipeline hack.
Bitcoin's in the news because of it.
They're really targeting Russia for that.
Another thing they want to-- which you guys know,
it's so weird.
If you brought this up a year ago,
people said you're a conspiracy theorist
and people said that you are absolutely ridiculous,
but today, everybody says it's cool.
I told you guys yesterday we are living in the USSR with news propaganda.
But they want to find out--
these G7 countries want to put pressure on China
to find out where the pandemic started.
They want to know if it was man-made or not or if it came from a lab or not.
So crazy, right?
Like, a year ago, you're a conspiracy theorist.
"You're crazy. You're nuts."
"You should go to prison for even saying that."
But today, its on the G7 agenda.
How unbelievable.
But this is the major thing for Bitcoin that we need to be watching out for,
environmental concern.
Climate change, okay?
And I think kind of what we're seeing in the overall crypto market is kind of a
because of all the political stuff and now knowing that this meeting was this weekend,
Friday through Sunday,
it makes a lot of sense why over the last few weeks,
we've been seeing a lot of politicians coming out and talking about Bitcoin.
And I also thought it was interesting that we've got El Salvador accepting Bitcoin as legal tender
literally the week before this G7 Summit.
So this is definitely going to be a topic of conversation there as well.
So when it comes to climate change,
we know what the thought is on Bitcoin.
One thing that Joe Biden, President Biden, is pushing for is more credits for electric cars.
Interesting, huh?
Interesting.
What is the biggest electric car company or at least the most notable?
I don't know if it's the biggest in sales.
Maybe Ford sells more electric cars. I don't know.
We all know who that is.
So you know the plot thickens possibly here when it comes to Bitcoin
and it comes to that guy that we don't talk about on this channel anymore.
But the fact is
is that I feel that what we're seeing right now is there's a push towards these things.
We don't know what's going to be said in this G7 Summit.
We don't know if there's going to be some kind of handshake regulation agreement that comes out
about climate change and Bitcoin mining and how the relationship is that they have together.
And it might not be good for Bitcoin.
But here's kind of my thought on it.
When it comes to this agenda that's coming out,
we're going to either see one of two things coming out of this G7 Summit.
We are either going to see basically Bitcoin come more in the spotlight than it's ever been
as these countries decide to band together
to try to push Bitcoin out, push Bitcoin down,
try to prevent you from buying it, trying to prevent you from selling it,
and it becomes a huge focal point.
Now, if that is the case,
well, as always with Bitcoin, when you try to do negative things against it,
it only proves its use case.
But the other thing is
it will have a major downward turn in the momentum for Bitcoin
because what this says is
because of this El Salvador news this week,
these countries realize--
or they're getting pressure from the IMF,
where I'm starting to think the IMF, International Monetary Fund,
is actually who runs the entire world.
That's really what I believe.
But the point is
if we see that coming from them, that pressure,
then Bitcoin is going to be a talking point.
If they're not really that concerned with Bitcoin,
they're not going to talk about it at all.
It may be one little thing comes out of this meeting this week that will be extremely bullish for Bitcoin.
That will mean the Bitcoin is still flying under the radar,
and it's still trying to establish roots--
or it will have some more time to establish roots and get even stronger
before they really do realize what an incredible threat to the traditional financial system that Bitcoin is.
And I think--
it's hard to say.
I don't know which it's going to be.
Honestly, I'm about 50-50 on it.
I'm 50-50 on whether this is going to be a nothing burger
or it's going to be gigantic for Bitcoin
either in the positive or negative side.
But I do think that's what we're seeing right now.
There's a big global meeting with seven important leaders of the world there.
Is Bitcoin on the agenda?
We've heard there might be something coming out.
So you guys monitor that very closely because if it breaks,
it could break heavy to the downside.
If it goes up,
it probably won't be until Monday because that means Friday, Saturday and Sunday,
there was no negative news for Bitcoin coming out from this G7 Summit.
So let me know your thoughts down below.
And, guys, I-- look.
I don't like to talk politics. I really don't.
I don't like to go there. Why?
Because whatever my opinion is,
50% of you will hate me for it
and 50% of me-- 50% of you will love me for it.
So I don't like to talk about politics.
However, guys,
when Bitcoin is so intermingled with politics as it is right now,
it's impossible to talk about the benefits and possibly the barriers for Bitcoin
without going into this stuff.
So I can't wait until it's over so we don't have to talk about it any more,
and the politicians can learn
to keep Bitcoin out your mouth
and put some respect on my name.
That's all I got.
Be blessed.
BitBoy out.