The year is 2022, it's september. The price of bitcoin is back below 20k. You can't even believe it. The price just plummeted. Another 10 overnight for almost a year straight, influencers have been telling you that the price is on its way to recovering and heading straight back to 200k, where it peaked at the truth is starting to settle in though the bitcoin bull is dead.
The bare winter is upon us. You went from working at mcdonald's to a millionaire, and now you're, putting in applications at burger, king and wendy's because no way mcdonald & # 39. S takes you back when you quit flipping burgers and you started flipping birds to your manager on your way out.
Once bitcoin had six figures in between waiting on job application. Callbacks, you cry because you had a chance to change your life and you missed it because you got too greedy in the back of your head.
You hear a voice, a distant familiar voice, saying lock in your profits before september guys and you drip back to a happier time in your life when bitcoin was pumping and bitboy crypto was all over youtube and you'll, never forget the day that He turned on you and told you.
It was time to shorten the market, but you'll, look back and see, he was right and you should have listened. This is a cautionary tale of what happens when you don't, listen to papa bitboy. Sadly, let's.
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Io! Welcome to bit boy crypto. My name is ben. Every day on this channel. I show you how to make money in cryptocurrency. If you like money and crypto, please make sure to hit that subscribe button and do us a favor and smash the like button.
So youtube knows to show this video to more people. So we can extend this bull run. Let's, see if we can get this video to 5 000 likes today. Today, we're gonna take a look at exactly what you can do to cash out and make maximum profits in this market.
One skill you can pick up, of course is trading learning how to trade the market, whether it goes up or down, is a huge benefit. One place you can trade at whether the market is going up or down, is with buy bit sign up for, buy bit and join our trading competition by visiting bitboycrypto.
com deals. All the details are there. In this video, we're, going to be looking at my cash out strategy for crypto to understand when you should be looking to exit the market and how you should be locking in profits.
You need to watch this entire video. I believe a mistake that a lot of youtubers and crypto influencers made in 2018 was holding on for far too long. They continued pushing moon narratives to their audiences, even after it was obvious.
The market had turned. I'm operating from an objective perspective based upon the history of the bitcoin charts that i've, been studying rigorously for years now, a perspective that takes into consideration every bitcoin cycle.
I'm, a cyclist like my cousin. Lance minus the bicycle and the steroids. I truly believe, though, that the supply and demand principles woven into the fabric of bitcoin or what actually makes bitcoin pump every four years.
The dominant factor in this is the bitcoin having every four years. Technically, every 210 000 blocks. The production of bitcoin is cut literally in half this causes. Supply shock causes the price to increase.
You can think of it kind of like oil when opec pulls back oil production. By just a few percentage points, the cost per barrel can skyrocket because the production was cut. To put this in terms that you can probably understand a lot better.
If you're new right now, there are about 900 btc being mined every day following the next having in 2024, there will only be 450 bitcoin mined every day, starting to understand that, eventually, that number is going to get insanely low.
In fact, by the last bitcoin cycle and 2136 to 2140, there will be a total of only 0.5 btc mined over that entire four-year period. Wow i can't, wait to be woken up and unfrozen to see that the point is, though, these cycles have been so dang consistent.
It's crazy. This allows us to understand when the end of this market should be. As i always say, i will stick with the cycles and their history until it's broken which hey, it certainly will be broken at some point.
But i'm. Going to keep riding with history until it doesn't work anymore. So far, it's proven a great strategy for making money. But this consistency gives us huge clues as to when the bull market will end, while a lot of people credit me with the september 28, 2021 date.
As my top of the market call. The truth is, i just: did the math from the chart set up by trading shot on trading view? He calculated that the second part of this bitcoin bull run should be 504 days from the having on may 11th, which bears out to be september 28th of this year.
No pun intended. This means you have approximately eight months of money making before you need to exit, but this is for bitcoin. In the last cycle we saw all coins pump for about a month after bitcoin peaked, so for all coins.
The total end of this crypto bull run should be over by halloween during 2017. People everywhere said: bitcoin's too mainstream. Now the cycles have changed. I heard so many people saying that so many people saying there wouldn't, be a giant bear market and then the price plunged 80, some odd percent, proving again that the cycles are consistent.
If nothing else. This is what gives me much more confidence and security than other people in this market. They are leaning on emotion in whatever the daily chart is telling them. I have 12 years of history on my side.
What do you have on yours and yeah? It's, not a billion years or an indefinite history, but in my opinion, it's enough history. For me to be confident, so my plan is to cash out between august and october of this year.
What do i mean by cash out? Many people get confused. When i talk about this aspect of things, i don't plan to completely exit crypto. This channel is not going to leave. We plan to be here forever. I don't believe in cryptocurrency because it makes me money that's, the effects of being in this space.
But i deeply believe in the long-term potential and opportunity that cryptocurrency and blockchain hold that could change the world forever. In a positive manner, we are in an all-out world battle between the many and the few.
The few right now are dominating. The few is big tech, big government and centralized banks, but we, the many the people, have an opportunity to take control back through the power of decentralization in blockchain.
Is it a pipe dream? Maybe, but is it our only chance? Yes, absolutely so, when i talk about cashing out, i'm talking about locking in profits and moving money around to secure my net worth, because if you didn't know, i hardly have any money in the bank when they.
Let me have a bank account over 90 percent of everything i own is in crypto. Some people say i'm crazy, but i know i'm crazy, like a fox, a silver fox, but i certainly will be pulling out large chunks of cash between august and october of 2021.
, depending on how the volatility is going. I could be cashing out large amounts during july as well, but certainly not before that if the bull market dies well ahead of time, i could be in some trouble.
I'll, write it all the way down, because history is on my side heavily doubt that that will happen. The question is: if i'm, cashing out big chunks, what happens to the remaining chunks of my crypto? Those will be moved over to stable coins in order to buy more crypto on the way down.
I will probably hold on to a few bitcoin and maybe 100 eth all the way through the bear market, just in case the cycle breaks to the upside. I don't want to miss out on that as well, because everybody talks about it breaking to the downside, but it could break to the upside.
But of course i am still sticking with the historical charts. I consistently told you guys. The only long-term holds for 100 sure are bitcoin and ethereum. Certainly, link cardano and v chain could be long-term holds, but i'm only 100 about bitcoin and ethereum, maybe 90 on those other three, but still we can make money with them.
In the short term other than just cashing out, i also have a long-term strategy. I've, used all throughout the bull market already, and that is spending my crypto look. I get it. I know. People don't want to spend their crypto because those dollars or satoshi spent have compound implications down the road.
A friend of mine spent 400 on a mattress on overstock.com in 2014.. He paid in bitcoin the bitcoin he spent on. That is worth almost two hundred thousand dollars today. A two hundred thousand dollar mattress.
Imagine for that much. It should come fully installed with a lady friend who feeds you, grapes and fans you down when your neck gets sweaty just me, but here is the thing you can't look at it like that over time we know, bitcoin is going to go Up but there will be downturns as well.
You just can't, compare everything to the top of the market. You have to remember. There are bottoms that's, why? I use my crypto.com card and i know that sounded like a weird infomercial line, but it's.
True, i use the crap out of my card. In fact this month i maxed it out. I spent 25 000 on my card now to be fair. The main reason i hit the 25k limit is because my old bank bbnt cut off my personal and business accounts due to my coinbase bank wire into my account in the fall always go to paypal.
First, before transferring coinbase profits to your bank account that's, a good rule, but i use my crypto.com card all the time and i swear by it. I don't ever look at my monthly statement and add up all the crypto.
I spent one day if i did that that could certainly make me sick, but i have no regrets. Every single dollar i spend on that card is money. I'm banking from the bull run and i heavily suggest you consider using that method to lock in profits as well.