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Man, we ain't slowed down.
BitSquad, I love you.
I appreciate you.
This is our Sunday morning drive video
where I drive to church and I tell you about cryptocurrency.
Guys, here's what's going on right now.
We need to be talking about two things right now.
Kind of three.
So let's actually start by going over Dogecoin,
I'm going to reiterate some things I've said about Ethereum Classic,
someone who agrees with me who is one of the most well-known people in all of crypto,
and then, of course, I do also want to jump into Ethereum.
We're going to be talking about what is different this time around for Ethereum.
Can Ethereum actually pass Bitcoin?
I'm going to give you guys some interesting numbers to think about,
when it's going to hit $5,000,
and then what's going to happen with the London hardfork.
So we're going to try to get it all in in 8 minutes.
Let's see if we can make it happen.
So first and foremost, let's talk about what happened with Dogecoin.
So last night, Elon Musk came on to Saturday Night Live.
Pretty much poked fun at Dogecoin all night
from the opening monologue where his mother said
she was hoping that her Mother's Day present wasn't Dogecoin
all the way into the weekend updates skit, the new skit, where he tried to explain Dogecoin,
and he couldn't do it.
So, obviously, all this was scripted.
It was written for him.
I'm sure he wanted-- had input, want to talk about Dogecoin.
He referred to himself as the "Dogefather".
But, guys, it didn't land real well.
It rarely ever does.
So the thing you've got to remember,
and on this, I'm going to tell you one thing I learned when I was a kid.
Or when I was a teenager.
Hate the game, not the player.
I told you guys
this was going to be a "buy the rumor, sell the news" type event.
It's buy the hype leading up to the event
and then sell right before the actual event
because it never lives up to expectations.
This morning, I saw Dogecoin was trading back around 47¢.
I had sold, let's see, 88.5% of my Dogecoin
before Saturday Night Live last night,
and then the rest of it, I'm just going to hold on to.
It was worth about-- what I had left was worth about $16,000.
It's probably worth about $10,000 now.
But I made money. I bought at 36¢.
I sold half of it at 62¢, I think.
I sold the rest of it.
I sold 75% of what I had remaining after my original sell.
I did that at about almost 70¢.
So I did really well. I made, you know, maybe like $50,000 total, somewhere around there.
And it was good. I liked it. It was a good move.
Now, people are starting to wonder, like, what's going to happen now
after this Saturday Night Live thing for Dogecoin,
and I just predicted several days ago that I thought we were going to see accumulation for a while,
and then eventually we will see the price of Dogecoin starting to head back up.
Now, the question is
where are these profits going to?
These profits are going to be moving out of Dogecoin and most likely moving into other projects
that are available on Robinhood.
Barry Silbert, the brainchild behind the Grayscale Bitcoin Trust and all the Grayscale trusts,
he's the one who started Grayscale,
he believes that Ethereum Classic is the next target,
so I have been buying Ethereum Classic up.
I bought another $50,000 worth yesterday.
Shout-out to my boy, Todd.
He called me and said,
"Hey, man. I bought this Ethereum Classic, and it's dumping, what do I do?"
I said, "Just hold it, big fella."
"Big fella, just hold it."
And when he called me, you know what I did?
I turned around and I said,
"Let me go buy some more of this."
So.
Uh-oh. We got a BMW coming up on us.
That's going to be that Ethereum Classic right there.
It's got-- I don't know how fast we got, but it was not over 100, I'll tell you that.
So anyways, the fact is
that this bimmer thought he was coming up on me.
He thought he could do something.
So I bought a bunch of Ethereum Classic at that point,
around $110.
I think this morning, it's trading around $117, $120.
So I'm already making money on that trade.
And, guys, this is a risk versus reward thing.
Like I'm just saying like, "Hey, what's going to happen here?"
"If I miss out on another pump on Ethereum Classic, what happened with Dogecoin?"
So that's what I'm doing. I'm buying Ethereum Classic.
Barry Silbert agrees with me. Now, let's talk about Ethereum.
I read a very interesting article this morning
about Ethereum and what's different this time around,
the two things that we're seeing that we did not see in 2017 for Ethereum.
That's going to lead us to a question about where Ethereum can go.
The two things that are different during this bull run,
No. 1: institutional money flowing into Ethereum
I've been telling you guys this for a while.
Institutional money is coming in.
We have VanEck actually file for the first ever American Ethereum ETF.
So we'll have to see what happens with that.
But in addition--
Come on, guys.
In addition,
the other thing that Ethereum has going for it that it did not have going for it in previous years
is that we now have actual applications.
There are ways for people to actually make money in Ethereum without being super risky,
without having to do a lot of the risky things
like leverage trade or anything like that.
You can simply yield farm.
You can stake.
There are actual applications for Ethereum.
Not even to mention decentralized exchanges and DEXs.
We have those going for us now.
So everything you want to do on a centralized exchange,
you'll soon be able to do decentralized.
The article went on to say that one of the most interesting things about Ethereum is
it has all the hallmarks of a tech giant.
Google,
Facebook,
you know, any-- Amazon.
It's got all the hallmarks of a tech behemoth
with no evil people behind it
because it's decentralized.
Now, sure, there's some people behind it that are evil.
If it's decentralized, that means everybody's involved in it.
But the fact is
there's not one central entity behind it that has ulterior motives
to collect data priva-- you know, violate your privacy.
Those are all of the things that it's against!
That Ethereum is against.
That's what decentralization's about.
So it's very, very interesting.
Now, as far as price action goes, where is the price going?
Now, yesterday, when I saw it was at $3950, I almost had a brain aneurysm
because I couldn't believe it. I thought it was a glitch.
I went and looked and saw that massive pump.
And, man, my bags were packed and thrilled.
But the question is where's it going from here?
Well, a lot of people think,
and I've given you this timeline,
$5,000 by the middle of June.
That's what I'm looking for.
Somewhere around the middle of June, I'm looking for around a $5,000 Ethereum.
Right now, we're actually ahead of schedule I believe for this.
Everything is looking good.
We may have a dump at the end of the month, so it's important that we get above $4,000,
which I think we're going to do very soon.
Bitcoin has still been trading sideways,
but, you know, there are people now saying like $10,000 is almost a given at this point for this cycle,
which I've told you guys for a while.
That's my absolute bottom price.
I think $15,000 is a good bottom price as well,
but I do still believe in a $27,000 Ethereum by the end of this year.
But all this leads us to a question.
Can Bitcoin--
Can Bitcoin be passed?
Can Ethereum flipping Bitcoin?
That's what we call it in crypto when a market cap gets flipped.
Now, right now, Ethereum is only--
all it has to do from here is 2X its market cap,
and it would be approaching Bitcoin.
Now, the funny thing is
if you look at the difference between Binance Coin and Ethereum,
it's a much wider gap than that between Ethereum and Bitcoin.
So, do I believe that Ethereum will flipping Bitcoin during this cycle?
I don't think so.
I personally don't think it's going to get that close,
but I'm starting to believe it is a possibility
because the interesting thing is when you look at what Ethereum has done,
approaching 7%, one Ethereum approaching 7% of the price of Bitcoin--
I believe that 8% would have been the top for this market,
but it's looking like now Ethereum is going to be able to climb much higher than 8%
whenever it does peak near the end of the cycle.
We are now looking like it may get to 10-12%,
which would be absolutely insane.
That means Ethereum could pass $27,000.
It could be looking at $40,000!
That would be insane! I couldn't even imagine that.
So drop your comments down below.
I want to know what you guys are thinking you're going to see from Ethereum.
I want to know a price prediction down below.
What do you think is going to happen next to Dogecoin?
Drop those down below.
That's all I got.
Be blessed.
BitBoy out.