Welcome to BitBoy Crypto!
My name is Ben.
Everyday, I show you how to make money in cryptocurrency.
And if you like money, make sure to hit that Subscribe button
and tap the bell for notifications.
Today, we've got a big video.
We've got so much going on with the US presidential election.
I want to get this a little more time-sensitive,
so we're recording this in the morning
for you, guys, to be out around lunchtime.
So things could change by the time you watch this video,
but they probably won't change in an incredibly large amount.
We are going to be discussing not only the presidential election,
how that affects Bitcoin.
We're also going to be talking about a senator who's now a--
a Bitcoiner who's now become a US Senator.
We’ll be talking about what happened during the last election
in regards to cryptocurrency prices,
but we're also going to be discussing Bitcoin hitting $1M in 3-5 years.
That is a prediction we definitely want to discuss.
We're gonna be talking about PayPal getting further into crypto.
We're gonna be giving you 5 reasons why this bull run is real,
and there's no reason to worry.
And we're also going to be discussing,
or we're also gonna be picking our winners for our Rarible giveaway from Twitter.
I was supposed to do it in yesterday's livestream,
but I forgot.
It was a big day, if you didn't know.
136,000 subscribers, thank you very much.
Don't forget to go back and watch our Top Coins of November video
from last night.
We talked about our top coins for November.
And obviously, you know, this vid--
these videos usually do pretty well,
but people were preoccupied last night.
So, guys, don't forget to go watch that video.
Let's start by looking at the markets here.
We have Bitcoin coming at $13,817.
Overall market cap: up 1.32%,
as we are still hovering about where we were yesterday and we looked at the prices
$396-- almost $397 billion.
Biggest winners of the day:
HedgeTrade,
ABBC Coin,
but it had a huge dip the day before.
Midas Gold,
Ravencoin,
Ampleforth,
and so forth.
When we look at the biggest losers of the day,
we have Yearn Finance,
Avalanche,
Bitcoin Diamond,
VeChain,
which has been getting pounded lately,
and Loopring.
Still very bullish on VeChain for the bull run.
So here we go, guys.
I want to talk about this for a second.
These were actually yesterday's final projections for where FiveThirtyEight,
which is a supposedly unbiased polling place,
they only gave Trump a 10% chance to win.
Biden wins 89 out of 100 times.
I guess they tie at one time.
And here are the res--
Here are the polling results.
Now, we don't exactly know what's going to happen yet.
The election looks like it is shifting for Joe Biden at the current moment.
We're going to look at the betting odds,
how that's drastically changed here, in a moment.
But, guys,
they got Wisconsin by 8%,
Michigan by 8%,
Nevada by 6%.
Best case scenario for Trump would be to lose Pennsylvania by 2%.
That's the best possible scenario.
6% in Minnesota,
5% in Wisconsin and Michigan.
This election, much, much, much tighter than this.
These polling places are totally out of touch, and--
Polling is pretty much dead, in my opinion.
Even if Joe Biden does go on to win,
it's going to be by the narrowest of margins.
And you have to ask yourself,
how does polling play into people's mindset about voting?
For instance,
are people more likely to go out and vote if their candidate is way ahead or way behind?
If your candidate is way ahead,
then you say, “Ah. He's winning. I may not go in.”
If your candidate is way behind, you say, “Ah. There's no point in me going.
He's going to lose anyways.”
And these polling--
you know,
supposedly middle-of-the-ground polling places,
I believe they are drastically affecting the elections in America.
And this could be why we see the numbers so drastically different.
And also, you guys know,
I mean, social media has just been so pro-Democrat, liberal, Joe Biden,
over this entire race.
We have fact-checkers going hard on anything Conservatives post and then,
you know, Democrats, not so much.
I think these people need to be put on notice.
Either choose, if you're a social media platform,
either choose to be political,
make that stance known,
don't pretend to be unbiased,
or be down the middle.
And it just seems like that we're really living in a world
where we're being forced to look at mirages.
We're being forced to look at things
via the way that tech companies want us to see them,
social media companies want us to see them,
not exactly how they are.
Really, the truth is, our country is split almost exactly down the middle,
but when you look at some of these other places,
you would not get that.
So I think it's definitely time that we put these people on notice
and say, you know,
choose what you're going to be,
either be neutral,
be decentralized,
and this presents a great opportunity for decentralized social media companies.
So let’s look at the current odds right now.
Let's refresh this. This is from Betfair. This is what a lot of the sites are using.
For the US presidential election, it hasn't changed in the last few moments.
Joe Biden,
if you bet $1, you win $1.25.
So he's basically 4 to 1 odds to win.
This shifted dramatically.
Donald Trump was almost an 80% chance to win through the middle of the night.
But what's happening is is in these four states right here,
Georgia, Michigan, Pennsylvania, Wisconsin,
all the mail-in and absentee ballots,
which was kind of thought to be the center of this race,
before we went into it, they have not been counted yet.
They're being counted now,
and we've seen Michigan and Wisconsin heavily go towards Joe Biden in the last few hours.
That's why these US presidential odds have shifted.
The Republicans still favored to win--
Donald Trump is still favored to win in Georgia.
If that bears out,
then basically Donald Trump must win Michigan, Pennsylvania or Wisconsin.
Michigan,
it does not look like he's winning Michigan.
It has shifted hard for the Democrats.
Wisconsin, also extremely hard for Joe Biden.
Pennsylvania, it's a little closer.
This is what this race is going to come down to,
Georgia and mail-in ballots in Pennsylvania.
So
I will be shocked if Joe Biden wins in Georgia.
Pennsylvania, we just don't know yet.
I think this race will not be decided probably until Friday,
for what it's looking at.
One race that did get decided though was Wyoming,
a place I am very seriously thinking about moving.
I really like Wyoming.
Kind of get away from a lot of the craziness going on
you know,
in metro areas of cities and things like that.
I really love being out in the country.
It's a really nice place.
Cynthia Lumnis or Lummis, excuse me,
is now the biggest Bitcoin proponent in the Senate.
We do know Kelly Loeffler, also pro-cryptocurrency.
She is going to be in a runoff, I believe, in Georgia for the Senate seat.
I’m trying to get her on the channel, which will be very interesting.
If you didn't know Kelly Loeffler,
Senator from Georgia,
she was chosen to replace Johnny Isakson when he went out.
Her husband owns the New York Stock Exchange basically,
or is the CEO of New York Stock Exchange.
She's very wealthy.
And she was the CEO of Bakkt before getting into crypto.
So Kelly Loeffler and Cynthia Lummis,
if Kelly Loeffler wins, that's two pro-cryptocurrency senators.
And I think this is definitely big news here that we now have a Bitcoiner.
We know Wyoming is big on Bitcoin.
And they are now looking, you know, to--
These two senators could be looking to push cryptocurrency legislation, at least be for it.
And that's very exciting stuff.
What happened in the last election?
For the prices of cryptocurrency?
Since the US elections in 2016:
Bitcoin was at $710, 1800% return.
Ethereum, which they spelled wrong here, which I love, 3390% ROI.
It was 10 bucks.
Ripple XRP: 2700% returns since then, even as low as it is right now, 2700% returns.
Litecoin: 1200%
Monero: 1780% returns.
So this is after--
This is before a bull market,
then a bear market.
Excuse me. Hopefully, we're in the beginning of another bull market.
And you can see we still what these huge returns are.
That's a little snapshot of what we can look at in the future.
So, what are we looking at in the future?
Well, Morgan Creek co-founder, one of which you know Pomp--
Anthony Pompliano is one of those co-founders.
We are talking about a different one now.
He's talking about an 18,000% surge in the next 5 years for Bitcoin.
This is from Jason Williams, the co-founder of Morgan Creek Digital,
Bitcoin could hit $1-3 million dollars in the next 5 years.
People have no idea what it will look like when large banks and countries start holding Bitcoin in their treasury.
This also lines up with a narrative I'm telling you guys where eventually we could see cryptocurrencies even pegged to Bitcoin,
not in some kind of fluky way to do special things on the Ethereum blockchain,
but literally as a stablecoin,
or as a stability as a peg to give the electronic digital currency of the internet its value,
which we don't exactly know what that's going to be yet.
What would trigger the significant upsurge?
That's the question.
Well, we're talking about scarcity, institutional investors, obviously,
but specifically,
in the last few months, many publicly traded companies have been showing their interest in BTC,
with multimillion dollar investments such as MicroStrategy and Square.
Grayscale also increases BTC under its management.
You guys may not know this,
but it actually holds 500,000 BTC,
which is 5% of the entire Bitcoin circulating supply.
Now, if you didn't know what Grayscale Trust is,
it is basically a stock that's backed by real Bitcoin,
so it's not paper Bitcoin,
or paper Bitcoins as some people call them,
this is real Bitcoin they've got 5% of the supply.
This is going to be a huge influx for institutional investors coming into cryptocurrency.
We're already seeing it.
One of the biggest news stories recently has been PayPal,
PayPal coming into cryptocurrency, offering four cryptocurrencies:
Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
But the PayPal CEO Daniel Schulman says he believes this is just the beginning of opportunities for cryptocurrency.
I don't know why--
Did you guys see what I did there?
I literally read it,
and then I highlighted it, and as soon as I finished the highlight,
I moved on.
What was the purpose? Nobody knows.
But this is what I really want to focus on.
Schulman said it was just the beginning of the opportunities as the company will strive to work hand in hand with regulators to accept new forms of digital currencies.
The executives said that while the use of cash continues to decline, central banks around the world are exploring or trialing new forms of retail digital currencies.
Why? Why does this matter? Well,
PayPal is going to add services for Venmo by the first half of 2021.
We have the app com-- the app update, allowing people to buy cryptocurrency very soon.
So these people know exactly what they're talking about when it comes to, you know, retail adoption of cryptocurrency. They're part of it.
And they're saying that, next, we're gonna see banks and central banks bringing in crypto and bringing in Bitcoin.
And once that happens,
go right back to this.
We could be looking at a 3 to 5-- a $1-3 million Bitcoin.
I keep saying “3 to 5”. Did I say that earlier?
A $1-3 million Bitcoin in the next 5 years.
Could it happen?
I don't know.
I've said 5 years could be a good number for that.
I think that will line up with the next bull cycle.
Are we in a crypto cy-- a bull run right now?
Well, 5 signs the Bitcoin rally is real and a strong bull run is afoot.
So let's look at these 5 qualifiers here.
No. 1: A higher frame breakout.
When you look here,
at this,
this looks to be the monthly chart, I believe-- this is the weekly chart, excuse me,
for Bitcoin since 2019.
And you guys can see on these larger time frames,
on the weekly time frames,
on the monthly time frames,
it is very clear we are now in an uptrend.
And it will continue throughout November, in my opinion. We are on a clear breakout.
No. 2 here: Google Trends and social volume are still low,
which is very interesting when you look at the Bitcoin tweet volume.
In 2017, Twitter was everything for Bitcoin.
I mean, people were all over Twitter, talking all kinds of things. Obviously, YouTube was big as well.
Facebook, a little bit, but really, you know, this was driven by Twitter and YouTube.
The tweet volume is not that significant, guys.
We are not seeing a drastically larger amount of social mentions for Bitcoin than other times.
Why is that important? Well,
you would think if this was all hype, tulip mania, this would be at its peak,
but it's not. We're not there yet.
That shows the potential that Bitcoin has in this bull run and it is nowhere near exhausted.
Technical indicators are not overheated.
The Mayor Multiple analyzes the price of Bitcoin based on its 200-day moving average, which evaluates its long-term price trend.
If the multiple is above 2.4, it indicates the rally is likely overheated.
You know, kind of like a bearish diversion,
where you can expect the price to drop even though it seems to be going up.
We are looking at this kind of like Mendoza Line, the 2.4 line here.
And you can see it's going straight across.
We have not got into this overheated area yet.
We were around the halving.
We're not there, and look how slow and gradual this build is.
Absolutely incredible.
With this indicator-- and it just looks like there's a lot of indicators that are pointing to this is not over.
Hash rate is still near record high.
It means there's a lot of activity on the Bitcoin network,
Bitcoin mining,
still something that people are extremely interested in.
If you guys want to see more Bitcoin mining content on this channel,
make sure you guys drop me a comment down below.
We'd love to hear about that.
It seems to me that a lot of Bitcoin mining has really turned, you know, toward big cryptocurrency mining farms in China and elsewhere.
So I don't know, if you guys are interested in that, we can talk about mining a good bit.
The HODLing activity is still strong.
People are HODLing their Bitcoin right now. They're not trading it.
This shows the average amount of years since the last time that a Bitcoin moved.
And the long and short of it is a large percent of Bitcoin has not moved in a long time.
And that's good. That means that people are not looking to actively trade these peaks.
And that bodes very well for Bitcoin.
So last but not least, let's go ahead and run our Rarible giveaway.
Here, you guys can see--
I meant to pick it yesterday. Sorry, guys. Election Day. Things were crazy.
900 RARI to first.
500 RARI to second.
300 RARI to third.
We're also adding in 2 additional 200 winners,
so we're gonna have 200 RARI for fourth and fifth place.
We're gonna pick the winners here.
We're gonna pick the winners-- It says 3.
Let's see. Can I pick 5 though? I can't pick 5, right? Yep.
I'm going to pick 5.
Number 1, the first one on the list is going to win first place down to fifth.
So let's go ahead and click.
630 potential winners here.
So congratulations to...
Nagulapalli Umamaheswararao
Congratulations on that.
Crypto Hunter
Norte NFT
You guys all won.
First place would have been
whatever, it was 900 and then 500 and 300.
But I need to pick 2 more winners.
Can I pick 2 winners?
Maybe it won't let me announce 2 more winners.
Maybe I would just have to do it from--
I'll have to pick the other 2 winners I guess just from Twitter. We'll pick 2 winners on Twitter.
And
Just enjoy your RARI.
So you guys, make sure to send us an email to--
Or we will send you an email. Just respond to the email.
Alright, so
there's no way I can pick 2 more winners because we set it at 3 at the beginning apparently.
So,
like I mentioned before, we are going to go on Twitter.
We're gonna make 2 additional 200 RARI winners on Twitter, but, you know, the contest winners,
you guys are right here. We're gonna be sending you guys an email.
You guys just respond to us with your address and we will get that sent out.
So thank you everybody so much for watching.
That's all I got.
Be blessed.
BitBoy out.