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My name is Ben.
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Today, guys, it's a Sunday drive video where I drive to church,
and I tell you what's going on in crypto.
And let me tell you what, I got a lot on my mind this morning,
so I'm going to try to make it quick.
I got a lot of topics that I really want to cover. I really want to hit here.
But first and foremost,
we are going to talk about the price of Bitcoin right now,
what I'm looking for on the charts,
kind of what I'm expecting for next week.
So--
then at the end, I'm going to talk about Bill Maher dogging Bitcoin.
I'm going to talk about Warren Buffett and Charlie Munger.
I'm going to be talking about Bitcoin mining. I'm going to be talking about inflation.
I'm to be talking about so much stuff.
And it all ties together.
The long and short of it is
it is Bitcoin's time to shine.
So, alright, guys, well, let's start with the price of Bitcoin.
Right now, it's coming in about $57,000 on the hourly chart on Market Cipher.
Now, if you want to get access to Market Cipher,
if you want to leverage trade on Bybit or Phemex,
if you have the IP issue where you can't get on Bybit,
you can always try either Unlimited VPN, or you can try Phemex.
I don't even think you need a VPN there.
Visit bitboycrypto.com/deals,
and you will see all of our major links there at the top.
But, guys, if you want to do that, that's fine, but what I'm doing right now
is I'm looking at the hourly chart on Bitcoin,
and I'm looking at the price hovering around $57,000.
I've got a long in at $56,900.
Now, I don't have that tight of a stop, but I do have a stop loss on
because I'm just-- you know, Sundays are so flipping unpredictable.
And that's really the important thing to remember, guys.
A lot of Sundays, the price drops.
A lot of Sundays, the price doesn't drop.
But Sundays just seem to be a much more unpredictable day than any other.
So how should you approach unpredictable days or months or weeks or whatever
when you're leverage trading?
Well, you try to analyze the charts the best way you can
and you try your best to make sure you're using proper risk management
because you could get a giant pump on a day like today,
but then again, it's just a little more unpredictable than normal.
We see that in the trading volume.
The trading volume usually is down on Saturdays and Sundays.
And the reason for that is, well, I mean, people are watching charts 24 /7,
but in addition, it's because people are really nervous to trade on the weekends
because we don't have, you know, a lot to go on.
Now the other thing is
I believe we have a CME gap that has developed somewhere between $56,000 and $58,000.
I haven't even looked at it.
I'm just going off of memory here to think.
The price of Bitcoin when we closed on Friday on the CME futures chart was down a little bit,
and then it pumped pretty much right after.
So that's just something to watch, to keep in mind if we do end up going down
to figure out where that CME gap is.
I can't really look it up while I'm here driving,
but that's just something to keep in mind, guys.
Watch, we know those usually fill.
We saw the last one. People said it wouldn't fill.
It filled.
So just be careful.
So that's what I'm doing on a trade.
On the hourly chart last night, we got a red blood diamond.
The price plummeted.
We now have a large green dot at the bottom of the hourly chart,
so it is looking pretty bullish at the moment.
Now, this week, I'm expecting fireworks for Bitcoin and Ethereum.
I expect the price of Ethereum to top $3000.
If it doesn't today, probably by Tuesday at the latest,
unless we get some kind of like detrimental, you know, drop on the charts for Bitcoin.
So that's trading. That's price analysis.
That's what I'm doing personally.
Don't forget to sign up for any of those sites, bitboycrypto.com/deals.
Okay, now, let's talk about the larger context of what's happening with Bitcoin right now.
I don't know if you guys saw this Bill Maher clip where he closed the show out the other night
just totally trying to destroy Bitcoin.
But the funny thing is,
No. 1, we know he doesn't write these--
he doesn't write his own scripts.
There's 0%.
He doesn't understand Bitcoin enough to be able to talk about it in the way that he did.
No. 2, Bill Maher, the champion of progressism-- progressivism--
yeah, I think that's a way to say that.
Progressivism?
Sorry, I'm not progressive, so I don't know how to say it.
You know, always, always talking about the old rich white guys,
which, of course, he is one of.
You know, always saying we need a new system, we need things to change,
and yet in his monologue where he downed Bitcoin,
he literally said, he literally quoted Warren Buffett,
the epitome of capitalism and conservatism--
conservativism?
I guess he's a conservative.
I'm just guessing because he's an old rich white guy.
And he's got money, so he doesn't want to pay taxes.
But--
but he's from Nebraska, a traditionally conservative state.
I don't really know his political opinion.
But the point is
Warren Buffett seems to represent every single thing that progressives and Bill Maher
and that whole wing of our country
like to put down,
and yet he uses Warren Buffett in a quote he said about Bitcoin being rat poison as--
or about Bitcoin, you know, being a disaster and go to zero.
I can't remember the exact one he used,
but he literally uses that as evidence of why we shouldn't have Bitcoin.
I'm like, "What is wrong with these people?!"
So he comes out and he says--
he started talking about the mining FUD.
That Bitcoin mining is taking up the same energy of the entire state of New York.
It's just not true, guys.
This stuff is a lie.
No. 1.
No. 2, they don't even understand how these mining operations are working.
In China, a lot of them are driven by hydroelectricity,
not even traditional electricity.
We know the electricity that's used in a lot of mining farms,
especially in North America,
is clean energy.
Or geothermal energy.
Or solar energy.
You guys may not know this, but did you know the United States only makes up for 5.9%,
5.9% of the overall hash rate?
Over 70% of Bitcoins hash rate is in China.
And I've told you guys really how that is the most problematic thing about Bitcoin.
It's the fact that the majority of all Bitcoin mining and the rewards
and the production of Bitcoin is happening in China.
Well, recently, in the province of Inner Mongolia in China--
this is not Mongolia but Inner Mongolia, a province in China.
Their local government there--
I mean, it's a large province so that the province's government told this Bitcoin mining facility
that they were going to have to shut down because of the effects on the climate.
I'm sure there's something going on there other than just that at face value.
But the point is
that wiped out 8% of Bitcoin's hash rate in that province.
That province alone, one province in China, 8% of the overall Bitcoin hash rate.
America: 5.9%.
Why is America so far behind the rest of the world, especially China,
in understanding the opportunity the Bitcoin and blockchain is?
Because we have idiots like Bill Maher
and Warren Buffett
and Charlie Munger
and Bill Gates,
a bunch of old rich white guys--
some people would say I'm one.
I'm not that old. I'm only 38 years old!
Charlie Munger is 97!
Please!
But the point here is, is that
we have these people that are trying to hold us back.
Meanwhile, we've got China passing us economically.
They understand the value of Bitcoin.
They understand the value of blockchain.
Obviously, everyone doesn't there
or else they wouldn't shut down a lot of the mining facilities.
But the point is
America has got to get on the ball when it comes to Bitcoin.
And people are starting to see that here.
There are whispers of hyperinflation that are going on right now.
There was a Bank of America earnings call that just occurred.
I think it was last week.
It would have been year Q1 earnings call, I believe.
And basically, what they said is people are starting to get very concerned about inflation,
about the out of control money printing,
the government just printing money at will, when it doesn't even make sense.
They're just, you know, in mass making up imaginary money as they go,
which is the same thing that Bill Maher was downing Bitcoin for.
But Bitcoin actually has a lot more sound economics and principles than fiat currency
by a longshot actually.
They actually blows it away in that regard.
But there are people now who are getting very concerned.
Now, think about this.
Since Bitcoin was basically idealized,
it came to-- it came to--
an idea to create it in 2008--
it was actually created in 2009.
Of course, we were going through the financial and the housing crisis at that point.
Since then,
Bitcoin has never been in an environment where it could prove its value and its sound economics
against inflation or hyperinflation in America.
It looks like we could be heading towards that.
The Federal Reserve has said they have no plans to ease monetary policies.
They're going to keep interest rates historically low,
give everyone a fighting chance.
But the problem is
look at something like lumber.
I'm having a house built right now.
We are feeling the thump of that lumber.
It has almost doubled in price.
I believe. I'm not a builder. My dad is.
But the point is it's almost doubled in price and yet they're saying
we only had 2% inflation over the last year.
Almost doubled.
When are you guys going to wake up to the fact
the government is lying to you about what is going on before your very eyes?
Bitcoin is the only thing that can save us and your--
that can save your financial independence.
Bitcoin is the only shot you have.
It may not work.
Bitcoin may not be able to save your finances.
But it's the only shot that we have.
So let me know what you guys think about this.
There's a lot going on.
It is becoming Bitcoin's time to shine.
I'm excited to see what Bitcoin can do.
This will be where, hey, maybe the maxis were right, and maybe that's what we'll say at the end.
Obviously, Ethereum also crushing it, doing really well.
Let me know what you're looking for in your portfolio right now.
Drop those comments down below.
Let me know what you think about inflation.
Are we heading to hyperinflation?
I want to know all of that from the BitSquad.
Alright, guys, that's all I got.
Love you on a Sunday morning.
Be blessed.
BitBoy out.