Welcome BitBoy Crypto! Home of the BitSquad The largest and greatest crypto community in all the Interwebs! My name is Ben. Everyday on this channel, I show you how to make money in crypto. If you like money and crypto, then make sure to hit that subscribe button. Alright, guys. Today on our Sunday drive video, where I drive to church and tell you what is going on in the world of crypto, very interesting video today as we’re going to be looking at Grayscale, why they’re at all-time highs and you’re not. And then we’re going to be diving in a little bit some institutional stuff, still kind of around Grayscale.
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And at the end of this video, I’m going to tell you why Cardano will hit $150 this year. I know it sounds crazy. That’s what Charles Hoskinson says. I’m going to show you a realistic path how it can get there based on history. Also, guys, before we get too deep into the video, I do just want to, you know, just to reiterate what I said in the video last night, which is if you’re looking to buy Bitcoin to make short-term gains, $50,000 is a great price to get in at. A great price. No reason not to get in at this price if you’re looking to make short gains and sell the top. However, if you are looking to accumulate for the long term, if you’re looking to accumulate for the long term, there may be better opportunities next year. And that’s not just for Bitcoin. That goes across the board for every coin. So right now, Bitcoin, great investment right now. You’re going to make money with it. But I believe next year, the price will probably be, you know, more suited for long-term HODLing, if you will. So take that for what it is worth. I definitely wasn’t saying in the video “Don’t buy Bitcoin. It’s not a good investment” because it certainly is. But I think you guys, you know, are picking up what I’m putting down here. I want to make sure that everybody who’s getting in, especially through watching this channel, that you guys are making the smartest financial decisions– you know, I can’t give you financial advice– the smartest financial decisions that you can be making. So let’s get into Grayscale. So I read a very interesting article this morning as Bitcoin hovers around $49,000 to $50,000. We almost touched $50,000 last night or yesterday afternoon. It’s, you know, back down to about $49,000 at the time of this recording. I do expect that to go up. I think kind of what I see happening for the next week is I believe we will see Bitcoin go somewhere between $50,000 and $60,000 in the next 10 days. I think Friday, we can see a brief pullback, and then next weekend, we could have fireworks going back to $60K. That’s kind of what I’m anticipating. At some point, we’ve got to get this show on the road. I think we’re going see that. I mean, $47,000 to $50,000 is– it’s got to be outside of the all-time high at $64.9K. That has got to be the hardest resistance level in this whole game, so we’ve got to get back above that, head to $60k, then we can get those all-time highs. I see Bitcoin doing a 2X from here. I think we can all certainly see that. But Grayscale has been accumulating, as you guys know, and I was checking this out. Did you guys know that with Bitcoin at $49,000– so basically about, what is that? About 70% of its all-time high? Grayscale is now up a billion dollars. So Grayscale was up $40 billion– or they had a total of $40 billion in assets under management. This would have been during the peak in May. And now we’re seeing Grayscale, with Bitcoin at only 70% of its all-time high, we’re seeing Grayscale with $41 billion worth of assets under management. And you’ve got to wonder, how did they do it?
Well, I’ve got two words for you. Financial cartel. As you guys know, the Digital Currency Group runs all of crypto, which is ran by the financial cartel of central banks and, you know, all kinds of who’s who in the world of finance and tech and corporations. They will these things to happen. So remember, the big money is always going to win. They always win all the time every time they play the game. That’s what you’re seeing. I told you guys a while back, Ethereum Classic is a great example of a coin that Grayscale uses to pump their own bags. So you see Ethereum Classic, you know, moving out of control several times over the last several months, you’re like, “Why is it doing it? It’s basically a dead project.” And it just all boils down to the fact that Grayscale pumps Ethereum Classic to make more hundreds of millions of dollars so they can turn around and then put that into other projects like Ethereum or like Cardano or like Bitcoin and add to those bags. I think Cardano is probably the No. 1, you know, that they are holding or trying to accumulate right now. Now, with institutions, we’re seeing some very interesting stuff from institutions right now as there’s a lot of misinformation out there in my opinion. There’s a lot of rumors about outflows from wallets. Now, what does this mean? This means that the total number of wallets holding a certain amount of Ethereum– we’ll take Ethereum in this case because it’s what I was reading about. Like, let’s say, any wallet that has over 10,000 Ethereum. Well, those largest wallets are actually shrinking, and so people are taking that to mean like, “Oh, institutional investors, they are taking those profits. They’re moving the Ethereum out of those wallets. You know, they’re moving them to exchanges. They’re moving them to other wallets, getting ready to sell,” whatever, yada, yada, yada, yada. Not really true. That’s not what’s actually happening. I know this because I know people who are doing this that are in that range of whales, and there have been articles about this. What they’re actually doing is you’re seeing some of these bigger investors trying to hide their tracks by shrinking their wallet sizes. So if you have a wallet that sends out $500 million worth of Ethereum, it’s easy to track that. And we’ve been showing you a lot of these whale transactions. But what if it was a wallet with $3 billion worth of ETH? Man, that’s going to get a lot of attention. So what they do is they take that $3 billion worth of ETH, and they move it down into much smaller, much more manageable wallets, anywhere from 100 to 300 million, so they don’t look like gigantic whales moving the market. So, it’s all about hiding. So, I’m reading articles from “Coin-tell-a-lie” talking about, you know, Bitcoin going up despite despite outflows, and I’m just like reading the article and I’m like this– They have to know what’s happening or either they’re idiots. So that’s what we’re seeing. We’re seeing a lot of people trying to hide their movement. And this makes sense because institutional investors, obviously, are, you know. In the traditional markets, they’re used to doing everything in the shadows and not getting caught with their financial manipulation. But today, thanks to blockchain and its transparency, they can’t do that, so they’ve got to figure out more creative ways to hide their actions over time. Now, let’s talk about Cardano. Charles Hoskinson recently said– where’s my ADA Gang at? He recently said he believes Cardano will hit $150 this year. Now, that’s basically about a 60X in the article I was reading. Now, I haven’t actually done the math if it’s $2.50. 2.50 to 10 would be 4. 4 times 15 would be 60. Yeah, so it’s about a 60X from where it is now. You saw that math. Wow, what a genius. So it’s about a 60X. Now, you’re probably saying, “Well, BitBoy, you said $8 to $10, maybe $12 at tops.” And I still think that’s generally true. I still think we’re going to see a $10 Cardano. But could we realistically get to $150? Is it really as outlandish as it sounds? Now, I’m going to give you the case for why it can happen based on history. Go back. 2017, Cardano launches. Where is it at? Well, it’s around a penny. One to two pennies. Where did it end up at? I think it ended up at $1.11, $1.18, somewhere between there, depending on what exchange you look at. Well, what is that? Well, that’s a 55-60X. Basically, what Charles is doing is he’s predicting based on the smart contract release that Cardano will be able to match its percentage performance from 2017. Now, if that happens, we certainly could see a $150 Cardano. And I know a lot of you guys would be extremely rich. I would be extremely rich. And I want to be honest with you. I would not hate that. Now, why do I not believe that’s going to happen? Why do I think $10 to $12 is more realistic? And my feelings won’t be hurt at all if I’m wrong. But the reason is, the reason why it’s more realistic for $10 to $12 is we just start running into how much money is out there flowing into the crypto markets right now, that the percentages to match that kind of percentage, we’re talking about trillions of dollars in market cap for Cardano. It could happen. I haven’t done the math to see what the exact number is. It could happen. However, I don’t think we’re going to see that much money flowing into Cardano. Now, is $150 a realistic price point for the next bull run? I would say certainly you could look anywhere from $100 to $150. My target for the next bull run for Cardano is probably about $50. I think that’s very realistic. But I don’t know. What do you guys think? Could Cardano hit $150? Drop that down below in the chat. I want to know– or in the comments. Where is your top top most most bullish price for Cardano? I’m looking at $20 being my most bullish case scenario for this year. You know, like for other coins, you know, it might be higher, it might be lower, but for Cardano, I’m looking at anywhere between $8 to $20. $20 being the most positive case. So alright, guys. That’s all I got for today. Make sure to drop those comments down below. I’ve got to get to church in the Demon. Be blessed. BitBoy out.