Welcome to Bitboy Crypto!
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My name is Ben.
Everyday on this channel, I show you how to make money in crypto.
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But does anybody really love crypto anymore after what it did to us this morning?
Bitcoin did not get the memo that Black Friday did not apply to Bitcoin and crypto.
But apparently, it does.
And not only Bitcoin and crypto,
we're now starting to see other reverberations on the economy
including 1,000 points gone from the stock market.
And you got to wonder,
why is this happening?
And was the Bitcoin fall this morning exactly, No. 1, was exactly what it needed in order to pump?
No. 2, did it only drop because of some big news events going on right now?
A lot of people are out there claiming a black swan event is currently in the midst.
Now, when we switch to deflation, that itself will be a black swan event.
But they're starting to talk about a new variant for the pandemic coming to us out of South Africa.
And they say that it is jab resistant, which is a whole other topic.
Point is, is this something we should be extremely concerned about?
Is this something that is going to bring down Bitcoin and make this the end of the bull market?
No. No, it's not.
This is not that big of a deal.
There are some other things going on around the world and in geopolitics right now
that are, you know, are causing a lack of confidence in, let's say, the stock market.
But overall, this is just another dip, guys.
And you've got to understand it's Black Friday, so things are on a discount.
I want to know down in the comments, what are you guys buying on this discount?
Are you buying on the discount?
Did you have some money set aside and some stablecoins to take advantage of this?
If you did, make sure to drop those down below.
Now, I was watching some other videos this morning.
I was watching Chris from MMCrypto in his technical analysis video this morning,
and, you know, what I found with his video was very interesting.
Basically, he's shown that ever since the Bitcoin resurgence,
after we bottomed out in July,
he said that we've got three falling wedge-- or three falling wedges.
Two of those falling wedges,
it bounced off of the long-term support and bounced up.
And the funny thing is, about a falling wedge,
is that they're actually really, really bullish.
And right now at $54,000,
we are sitting on the cusp of breaking that wedge
and we bounce up to the upside.
And I think that's a really good way to look at it
because we've basically had two really big moves since July
packed into a couple, you know, a couple week period.
And that's what we really need here.
I mean, really to get us to $100,000,
which I hear the people still saying,
"Oh, you still think it's going to be $100,000 by the end of the year?
Yeah, I do.
I do, believe it or not.
I do.
Your troll comments and your hate doesn't change my opinions or the way I feel about crypto.
Guys, let's rewind 2017.
Where did Bitcoin sit on Thanksgiving?
$8,000.
It over doubled.
We don't even need Bitcoin to double!
True, it's more market cap. I understand all that.
But we don't even need Bitcoin to more than double.
Basically, Bitcoin went up, you know, 125% during December of 2017!
Right now, where we sit,
we only need to go up about 70-80%, somewhere around there.
I don't know what the exact number is right now. I don't have it in front of me.
But this is something we've seen before.
Don't be deterred by this.
As long as we are closing above $54,000, which is pretty pivotal at this point--
now, now, look.
If we don't close, you know, that doesn't mean that for sure it's going down or anything like that,
so don't mishear what I'm saying.
What I'm saying to you is that
this falling wedge that Chris from MMCrypto is talking about is around $54,000,
and if we're able to hold that, then that wedge will play out probably in a bullish manner,
and we will have the third leg of phase 2 of this bull run,
and I believe it will be complete by the end of December.
Maybe a little bit sooner than that but definitely not--
not much sooner than that because we're already almost to December.
So I'm not concerned.
I'm not worried. And, guys,
you've got to be able to zoom out.
People get so focused on the daily.
And I get it. We talk about the daily.
We talk about what's going on in the here and now in the daily chart,
which we did have the daily chart green dot on Market Cipher
and then yesterday, we got a daily chart red dot.
So, what can you really do there?
Bitcoin needs to make up its mind.
But the point is we get so focused on the day to day,
and it's not that important, guys.
If you're in crypto, here's something that I will tell you that is the honest truth.
And the numbers bear this out.
I can't tell you it's a "guarantee" because I guess I'm not supposed to say it's a guarantee
because I'm not a financial adviser,
but the point here is, which I think it's so stupid I have to say that,
but the point here is
the numbers show if you stay into crypto for four or more years,
you will win and you will win big.
Don't let anything that happens scare you out, scare you off.
Even if you lose all your money!
That sounds crazy!
I lost all my money!
I did it!
I did it in 2017 to 2018.
I lost everything I had in crypto in 2018.
It all went down to basically zero. Okay?
But I wasn't here for a short-term gain.
The short-term gains feel good.
They feel really, really good. There's no doubt about it.
But we are here for the long term
because it doesn't matter-- I want you to listen to me here.
It doesn't matter how much Bitcoin rips.
It will always find the top and come back down in the short term.
Guys, you know that feeling when you're watching Bitcoin
or some of other altcoin like explode like Crypto.com was or Sandbox's?
You're watching these things just absolutely explode,
and then what happens?
They wick up and they start to come back down on a correction.
There are always corrections on this ride.
But when you space it out and you look over the long term,
if you stay in this market for four years or more,
you will win and you will win big.
I know I have.
I mean, look at that sexy Demon and that sexy TRX.
I love my cars.
Lambo's in the shop, you know. I did get hit in the back.
Somebody did rear in the Lambo a while back.
But anyways, guys, that's all I got.
Be blessed.
I love you, guys.
Enjoy your Black Friday sale.
BitBoy out.