Hey!
Welcome to BitBoy Crypto!
My name is Ben.
I want to talk about the price of Bitcoin today.
I'm coming to you from a very special location.
If anybody can guess where I'm at,
then--
nah, I'm not going to send you $100.
But listen.
I will tell you that the price of Bitcoin has been shooting through the roof.
The price coming in today at $23,400, I think was the peak.
Of course, Crypto Face taking blame for dumping the price on his Twitter.
I don't know if he did or not.
But, yeah, I mean, you guys know, we're doing our book tour.
So I'm here in the San Francisco Bay Area.
I don't know if you guys know anything else is in the San Francisco Bay Area.
I had to stop by, guys!
Come on! Come on. I had to stop by.
But, look, we're just going to talk about Bitcoin.
That's--
that's what we're going to do.
We're going to talk about Bitcoin today.
So I jumped in a long yesterday at $21,800.
And people said that was crazy.
"Why would you jump in a long at $21,800?"
And the reason is because Frankie Candles and I have been talking,
and we had basically decided that if the price flip $21.8K into support
that it was going to be a great place to take a long on Bitcoin
because it was probably going to go straight to $23K.
So that's what happened.
It went up.
I thought, "Man, I don't want to FOMO in."
So I wait till it got to $21.8K.
And the price--
the price hovered at $21.8K,
and it started flipping it--
(chuckles)
it started flipping it to support.
(laughs)
It flips it to support.
So $21.8K turned into support.
And so I took a long.
And it seemed a little bit risky.
But that thing went straight up.
It went--
it went straight up to $23,000, sure enough.
I took--
I had my set profit at $22,700.
And it hit it.
So it was a 141% gain on my trade.
Absolutely crushed it.
I think I have--
I had like a Bitcoin in the trade, so I made like a Bitcoin and a half.
It was pretty good.
But the question is,
where is Bitcoin going to go from here?
The most important thing, of course, is that Bitcoin is not going to go--
(chuckles)
in--
it's not going to go in the wrong hands.
We'll just say it like that.
It's not going to go in the wrong hands.
So, anyways, the point being that Bitcoin has been very resilient
and it's been showing that, you know,
it definitely does not want to go down at this point.
And people are saying,
"Is it a bull market? Is it a bear market?"
And I think it's a very important--
I think it's a very, very important lesson to learn here,
which is, you know, traditionally, what you see
is you see that Bitcoin tends to--
when we judge a Bitcoin cycle,
and we look back at the the Bitcoin market, okay?
What you'll see is we always divide the 4-year cycles into bull and bear.
You don't really take a moment and say--
you don't take a moment and say that it's in sideways action.
When you're in the sideways action, you say it's sideways action.
When you are watching the--
when you're in it, it feels sideways.
When you look back and you remember it,
it's sideways.
But if you look at anybody that maps out the 4-year chart,
you'll see it's broken very clearly into bearish and bullish.
I believe that right now, technically, we are in a bull market.
Why do I believe that?
Well, I believe that because the price of Bitcoin has bottomed, in my opinion.
That $15,200 or $15,400,
that was the bottom.
You had people like Crypto Savy saying it was going to go down to much, much, much lower.
And he said it wasn't--
we have a screenshot of this.
I posted it on Twitter.
No hate to Crypto Savy.
We love Crypto Savy. He's a great guy.
But he said that, you know, we wouldn't see $20K again until 2025.
So I guess we're two years ahead of schedule.
So that's good news.
But more importantly,
like I said,
when people look back and they judge what's going on here with the price of Bitcoin,
they are going to say we've already started the bull market.
And eight years from now, when they look back and judge this cycle,
technically, they're going to say that.
But a lot of people are asking me.
They're saying, "Man, I was waiting for $12K.
I was waiting for $10K.
It didn't happen.
What do I do now? Did I miss it?"
Well, I certainly don't think that you missed it.
I think that these are still decent points to accumulate,
but you're seeing a lot of these alts start to run up.
Now, if I were you,
the best way that I would handle this would be dollar-cost average from here.
That way, if you get a dip, you're still buying at the lower prices again.
You know, you're still buying at the lower prices again.
You definitely don't want to, you know, put all your money in right now
because we're going to have dips again.
I believe that we will, at some point, fill the CME gap that's at $19,990.
That's where the CME gap is.
Beware of dog.
Apparently, there's a dog over there.
Be careful.
(chuckles)
What kind of dog is it?
It might be--
(chuckles)
it might be the kind of dog you get when you combine a shih tzu and a pit bull.
(chuckles)
You get it?
Huh? Ha!
But, anyways, I think that it's really important to dollar-cost average in.
And I think you're going to get a lower price from here.
Now, are we going to pump all the way to 30?
Potentially.
Now, I want to lay out a scenario for you guys that is basically a super cycle, okay?
We always talk about a super cycle in Bitcoin and what that might look like.
And the fact is, is that when it comes to Bitcoin and a super cycle,
you need one of two things to happen, okay?
Either you need a ton of money to start flowing into the market out of nowhere,
or you need Bitcoin to be at a higher price than we've ever seen it at
by the time it starts pumping, okay?
By the time that it really starts moving after the halving
because of the supply shock that occurs.
So the point is,
I think there's a scenario.
Now, I don't want to get you guys to--
I don't think this is going to happen, okay?
But I know a lot of you guys are looking for the most bullish scenario.
And I think there isn't it--
there is a possibility that
because the attention did not leave crypto, okay?
Because you had Sam Bankman-Fried,
(chuckles)
you had all this stuff with FTX causing such a ruckus in the market that--
such a ruckus in the market that the attention never left.
So the people have not left
and they have not--
look.
Let me say it like this.
You are lucky in 2018 or 2019 to get 200 people watching a live stream at one time.
We had almost 10,000 the other day, okay?
The attention in this bear market has been unreal.
It's been unlike anything we've ever seen before.
And so because of that, because people are paying more attention,
there's more people with capital waiting to jump in this market right now.
And I really believe that because of that,
there's a chance,
I would say about a 10% chance,
that maybe we could be at all-time highs by the time the Bitcoin halving occurs.
I don't think we're going to all-time highs this year.
I don't think it's even a possibility.
I think the next year, though,
if we get the pre-halving pump,
and a lot of people know the halving is coming more than ever,
I don't think it's baked in,
but more than ever know that it's coming,
so I think there is a possibility that exists
that the pre-halving pump could send Bitcoin to all-time highs,
it could dip down below the all-time highs,
again, at the halving,
and then--
where we would normally be down like 60%, 70%,
at the time that the Bitcoin price starts moving after the halving,
we could be at a very, very high number,
where it's only down 10% or 20% from the all-time highs.
And that would be absolutely massive and that could result in potentially a super cycle.
So, look, guys.
We've been talking about a super cycle
since the beginning of people tracking the Bitcoin cycles,
and we haven't seen it yet,
but there's a little bit of hopium for you guys that it could happen.
And we do have a lot of bad actors,
bad actors,
cleared out of the space,
that could have been shorting the market towards the top,
which could have been a reason that Bitcoin did not go to $100K.
So there you go.
That is my analysis of what's going on with the Bitcoin market right now.
I believe that you guys should, you know, dollar-cost average.
If you missed out on the lows,
I think we will go back down to around $20K again at some point.
We could go back down to $18.5K even, somewhere around there.
I don't think we're going to get new lows though.
And I think the bottom is in.
And I think people are getting more confident with that every day.
We told you in November we thought the bottom was in.
We told you after the midterm elections we would bottom.
We have done that.
It held through the contagion.
It held through Sam Bankman-Fried's fiasco of FTX.
And if that can't send Bitcoin to new lows below $15K,
I'm just not sure really what can.
So there you go.
Reporting straight from Stanford, California,
from Palo Alto,
from Santa Ynez and Cooksey Lane.
That's all I got.
Be blessed.
BitBoy out.