Welcome to BitBoy Crypto!
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My name is Ben.
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I'm coming to you guys live from my backyard.
Do you think my kids play ball?
Everyday, it looks like this.
But, guys, listen. I just want to make a quick video for you guys today.
Why?
Well, because my voice is still almost gone,
but hopefully, maybe if I take the rest of the day off,
maybe it'll come back tomorrow.
But today, I want to talk about shorting Bitcoin.
Should you do it?
We're also going to briefly touch on Dogecoin
and what it did and why I'm still looking at Ethereum Classic.
So, okay, let's start with Bitcoin, guys.
First and foremost, price is pumping right now.
Over $59,000.
I actually just took profits on my long I set a few days ago on the stream.
I made about-- I think I made about $15,000 on the trade.
So pretty good if you ask me, if I do say so myself.
I do have some more room to the upside on it.
I set a stop loss at like $58,900.
Maybe it's hit it by now. Maybe it hasn't.
But I told you guys that I fully suspect Bitcoin
to be hitting new all-time highs within the next two weeks.
I said that a few days ago.
And I do think we're on track.
We've got to get back above $60K,
start making that move towards $70-80K.
Now, just keep in mind,
if you would like to short or long Bitcoin,
you guys can do that by going to bitboycrypto.com/deals.
At the top, you will see our best deals.
You can get access to Phemex, Bybit.
They got a trading competition coming up soon.
They got the largest deposit bonus ever.
Of course, Market Cipher, Token Metrics,
you can find all that on bitboycrypto.com/deals.
But the point here is
is that I just read a very interesting article.
You guys know I do not short in a bull market.
Or a bulldog market, as some say.
Odie Wilbs!
Look at that dog. He's the ugliest dog you've ever seen in your life,
but he is pretty sweet.
I don't short in a bull market.
Now, why?
Can I make money shorting in a bull market?
Yeah, you probably can.
The reason I don't do it is because it just adds a little bit too much volatility to my plan.
It's much easier for me to bet one way
and wait until the price drops,
and then go that one way,
instead of trying to pick like 50/50 each time.
So for me, it's purely strategic.
And you're going to win more longing in a bull market.
But what about a bear market?
Should you long in a bear market?
I'm going to say no.
I only will short in the bear market.
Now, I read a very interesting article this morning
from-- I think it was on the New York Times or the Wall Street Journal.
I can't remember exactly where it was.
Maybe it was CNBC.
They said that a lot of trading experts--
there's another bulldog.
That's Henry.
Hey, Henry!
What are you doing, buddy?
Yeah.
He's ugly, too.
Bulldogs are ugly, but we love them.
So the thing is
is I read this article and basically what it said
is that if crypto continues going up over the summer,
it will be the easiest short in the history of mankind.
What do I say to that?
I agree 100%.
Like, that's why we're waiting for the top of this market.
It's not going to be in for several months.
But after crypto blows up over the summer,
you know, technically fall starts Quarter 4,
starts I think like September 22, 23, that's--
well, no, Q4 actually starts in October,
but summer actually ends towards the end of September,
which, guess what,
that's exactly when I think Bitcoin is going to peak out at.
So I do believe that once we get to the top of the market,
shorting Bitcoin down,
it's not going to be fun
because we're all going to be looking at the price of Bitcoin dropping.
But you can make a lot of money shorting in a bear market.
You just have to be in anticipation for that.
And this article that I read was like really negative like,
"Oh, you know, crypto is going to crash and all this stuff," like,
yeah, of course, I've been telling you guys that for two years now
that it will go up and then it will fall.
The smart money is going to anticipate that.
If it doesn't happen,
then guess what,
good on crypto.
That means we're going to continue making money.
We're not going to sell 100% of our positions.
But shorting in a bear market is going to be the move,
so don't get scared off by these people that tell you that crypto is going to crash.
It's going to.
And you can make smart moves based on that
including leveraging on the way down.
So now, let's move on.
Let's talk briefly about Dogecoin and Ethereum Classic.
So today, I got a big video for you guys on Dogecoin coming from Matt Wallace of Final Stand.
I've got an interview with him.
We're going to talk about it a little bit more on our wrapped weekly video with Ellie.
That's coming in at 7 today Easter Standard Time.
And the point is
what's going on with Dogecoin?
It went all the way over 70¢ yesterday,
briefly becoming the No. 3 overall cryptocurrency,
actually ahead of Binance Coin yesterday.
Binance Coin, as of this moment, is about $96 billion in market cap.
I hope you all didn't see my dog poop back there.
That'd be weird.
But a $96 billion in market cap,
and Dogecoin is at $92 billion, okay?
So pretty close.
Yesterday, they actually flipped.
I think Dogecoin-- I said I thought it could hit $1 leading up to this Elon Musk event.
I think it's probably a little bit too close now to the event.
We didn't get a huge run-up like I was thinking we were going to get,
but I do believe before the show today,
it will go above 80¢.
I think we can easily see that today.
We might not see it.
Some people are already starting to sell.
Where are people putting their money?
I think a lot of these people are going to be putting their money in Ethereum Classic.
It's easy. It's liquid.
People-- like, you kind of have the kind of almost a perfect storm here.
Now, do I believe Ethereum Classic is great project?
No.
Do I think it's going to change the world? No.
But from an investment standpoint,
trying to ride a wave similar to what we've seen with Dogecoin
because I do see the Dogecoin wave here tapping out for a bit
after this Elon Musk interview depending on what happens.
Something crazy can happen today,
and, you know, the price could shoot way up.
Maybe Elon Musk buys a billion dollars worth of Dogecoin on, you know, TV tonight or something.
But most likely
buy the rumor, sell the news here.
But when you're looking at Ethereum Classic,
you're looking at a project that, No. 1, is liquid on Robinhood for these investors
that are taking Dogecoin profits,
and then, No. 2,
you're looking at something that has the word Ethereum.
So what the noob investor is going to do,
they're going to look at that and they're going to say,
"Oh, my gosh, Ethereum Classic is at $110."
"Ethereum," which is also pumping right now, "is going to be at $3600 today."
Or it is at about $3600.
"Wow, that's 36 times from here."
"If Ethereum Classic can catch Ethereum, I can do a 36X."
Does it make sense? Is it logical? No, no.
But will they think it?
Quite likely.
So for me,
I'm looking at Ethereum Classic, and I'm targeting it.
I've now got six figures of Ethereum Classic.
Now, it may not pay off.
I've got a lot of disposable income,
a lot of disposable money as you guys know,
so I can do things the normal person probably can't do.
I understand that at this point, but just remember,
as early as--
as early as late 2019,
I was pretty much at the same spot you guys were.
I didn't have millions of dollars or even hundreds of thousands of dollars.
So, but the point is
if you do have some disposable money to throw at something and see if it sticks,
I think looking at Ethereum Classic and looking at all the new qualities that it has that noobs like
and just think,
if they think the next coin to pump,
you know, after Dogecoin when they're trying to consider what it could be,
it could very easily be Ethereum Classic.
It makes so much sense.
And I don't want to miss out the same way I just got Dogecoin FOMO at this point.
I don't want to miss out on gigantic gains
based on logical reasoning like I do with Dogecoin.
Now, I certainly made some money with Dogecoin,
but it could have been a lot more for sure.
So alright, guys, I want to know your opinions on that.
Let me know if you think Ethereum Classic is the next Dogecoin.
I want to know what you think about the price of Bitcoin.
Are you going to short it in a bear market?
Don't forget to check out bitboycrypto.com/deals.
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Drop all your comments down below.
That's all I got.
Have a good Saturday.
Be blessed.
BitBoy out.