After being a seasoned crypto veteran going through several market cycles of Bitcoin,
I've learned quite a bit.
Don't let your emotions get the best of you.
Know when to take your profits.
When all else fails, just HODL.
And many more.
But one of the most important lessons I've gleaned being in crypto since 2012
is to know what kind of market you're in.
That is the single biggest cog in turning the wheels of your portfolio to a positive direction.
Find out today why that's so important
and how you can use that to your advantage in Bitcoin trading.
Let's get it!
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Welcome to BitBoy Crypto!
My name is Ben.
Everyday on this channel, I show you how to make money in cryptocurrency.
If you like money and crypto, then make sure to hit that Subscribe button.
And if you're interested in trading Bitcoin,
then make sure to sign up at my Bitcoin trading site of choice,
Bybit
You can do that by visiting bybit.bitboy.live.
It provides you with tons of options on trading
including Ethereum trading
and you can support the channel also by using that link.
And that is very relevant to today's video because we are going to be discussing
why you only want to be long on Bitcoin right now.
Going long on Bitcoin means betting the price is heading upwards instead of downwards.
Once the Bitcoin bull market is over,
then you may want to do what I'm going to do and short Bitcoin on Bybit.
That means betting the price will go down over a period of time.
And many people say that people who short Bitcoin force the market down.
You really think some retail traders taking advantage of the Bitcoin market cycles is what causes the prices to drop?
Nah, that ain't the way it works, bud.
You see, crypto is unlike any market we've ever seen.
So far, in Bitcoin's four distinct Bitcoin cycles,
the market direction has been incredibly predictable---
a 3-year bull market followed by a 1-year bear market.
That has generally been true since Bitcoin's inception in 2009.
While we complained about the bear winter over the last few years,
the fact is, Bitcoin bottomed out on December 12, 2018.
Ever since then, the price has been increasing,
but the action wasn't dramatic or steady like it is now.
So, the truth is, the Bitcoin cycle kind of looks like this.
The Bitcoin halving occurs when block rewards for miners are cut in half,
decreasing the production of Bitcoin.
The price goes up fast and furiously for a little over a year,
about 15 to 16 months.
Then the price dramatically drops for one year.
Then, for almost 2 years, nothing exciting happens.
But here is what is exciting.
No other markets have distinct cycles follow predictable patterns like this.
There has been no rhyme or reason to the latest stock market bull run.
When will it stop?
Basically, nobody knows.
No one even knows how it's gone on for as long as it has.
It seems like that bubble should have popped already.
But with Bitcoin, it has a production decrease built in.
Supply and demand dictates that the price should increase when the production is decreased.
Understanding where we are in the market is pivotal to making money while you're trading.
And here is what it all boils down to.
The trend is your friend.
That's why right now I'm only longing Bitcoin.
I'm using Bybit to wait for dips and then trade Bitcoin on margin or leverage.
For people who are very experienced and know how to use leverage and stop losses,
using high leverage is fine.
If you're just getting into this type of trading, you need to make sure how it all works.
Then if you use high leverage and you're inexperienced,
you could get big losses.
But I've been getting a lot of questions about how to use Bybit
since many traders live in areas where technically their IPS are blocked.
Simply get a VPN app.
Many use NordVPN.
I use VPN Unlimited personally because it works well with my phone and my computer.
But once you get your VPN set to an IP in an allowed country
such as Germany or Canada,
then you can visit bybit.bitboy.live and sign up.
Then head on over to the rewards hub to get the latest promotions and hot deals from Bybit.
Make sure to stay tuned to this channel because from time to time,
we have extra promotions with Bybit.
This is the main trading site that I use and I talk about on this channel because it's the best. Period.
Make sure to learn about leverage though.
If you're a member of our Discord server at discord.bitboy.live,
you get access to some calls that will help you on your trading journey.
But remember, as I said earlier, the trend is your friend.
Let's look back to the last bull market in 2017 to look at what would have happened
if you would have longed the bull market.
So, looking at this chart from 2017,
we see 5 distinct bottoms that represent the 5 legs of the previous Bitcoin bull run.
Right now, people are starting to say that we are moving into the second leg of this bull market.
So what does that tell us?
This means we need to be looking for that big correction.
The percentage gains from the last market were absolutely insane.
Let's take a look at how much you could have made "buying the dips".
And we ain't talking salsa.
The first leg of the Bitcoin bull market in 2017 saw a 233% gain for every Bitcoin you owned.
On leverage, even low leverage like 3X to 5X, that means absolutely insane gains.
That's the thing about trading on margin.
What can be dangerous if you don't use stop losses due to what's called liquidation,
there's no other trading vehicle in the world that can offer exponential gains like trading on leverage.
Stop losses are so important though.
If you don't use them,
and trade with too high of leverage,
then you get liquidated.
Now, this is where you lose 100% of the money you have in the trade.
If you guys want an updated Bybit tutorial video, make sure to drop me a comment down below.
But if you use stop losses, the dangers are actually minimal.
But let's check out some of the other legs up from the last bull market.
Here, we have a 166% move that occurred over a month and a half period.
Imagine Bitcoin more than doubling over 45 days.
Insane!
It's coming again.
That was followed by another 165% move in 52 days.
Almost exactly matching the leg before.
Then we had a monstrous 3X
as from there, the Bitcoin price increased 200% in only 25 days.
Less than a month, and the price tripled.
Insane to think that's where we're heading to.
Then we had Bitcoin's last hurrah as it went up 55% in only 8 days
and then came crashing down.
That's when you short Bitcoin,
when it gets near the peak.
Based on all my knowledge, research and understanding of Bitcoin cycles,
we know that peak will come sometime near the end of September in 2021.
So be prepared and be vigilant.
But just a word of warning to people thinking this is easy money.
Remember, while it seems easy and a 50/50 shot to bet on where Bitcoin is heading to,
it's really not.
There are many peaks and valleys.
The charts are filled with green and red candles.
So timing the market and understanding which way it is flowing is hugely advantageous.
Make sure if you're traversing into the dangerous waters of leverage trading that you are prepared.
It's not easy.
Most traders will lose,
but if you can lean on the tools we discuss here on the channel
and the knowledge of traders in the BitSquad community,
then you may just have what it takes to become successful.
Just like with anything, it takes time.
It takes practice and experience.
If you think you're ready to get in the game, head on over to bybit.bitboy.live
to get signed up today.
And drop your questions about trading below.
That's all I got.
Be blessed.
BitBoy out.