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Crypto Holders… I CAN’T BELIEVE THIS IS HAPPENING! (BITCOIN & ETHEREUM NEWS)

Crypto Holders… I CAN’T BELIEVE THIS IS HAPPENING! (BITCOIN & ETHEREUM NEWS)

Welcome to crypto home of the bitcoin the largest and greatest crypto community in all the interwebs no channel works harder to keep you in the know about crypto my name is ben usually we’ve got a sunday drive video for you this morning where we uh drive to church and tell you what’s happening in crypto today we’re traveling to a ball tournament.

Ethereum and Bitcoin cryptocurrency coinage, macro view

We got the number one seed today got the ball player back there studly mcmuffin and we are going to be heading to a ball tournament today hopefully hopefully uh we win it’s good stuff do stuff outside of crypto don’t just spend all your time doing crypto don’t neglect your family you know that’s that’s an important lesson but guys i i want to talk today about bitcoin ethereum because we have something going on really for both of these cryptos that is extremely massive right now and these are potentially the two catalysts that we’re gonna see for a level two a layer two.

If you will of this bitcoin bull run that we’ve been seeing since last year and uh you know well really we’ve been seeing it since the end of 2020 and you know what’s really crazy is to think that we’re coming up um in just over a month uh of the uh first bitcoin top here the first bitcoin top that occurred last year in april.

Actually less than a month it’s almost been a full year since the may crash that is absolutely insane to me to to think about that it’s hard to imagine that it it’s been a year since that occurred it’s my trying to get over on me here it’s not gonna work good try uh so do they know this thing’s got 800 horsepower i don’t think she does i don’t think she does but the point here is guys is we’ve got two catalysts and i want to go over what both of these are and and why they’re absolutely massive why we are probably going to see another leg up it’s starting to feel that way now that doesn’t mean that we’re going straight there in the next couple months.

But it does look like now we are moving from a place where it’s going from realistic to see bitcoin at all-time highs to probable we’re not there quite yet but it’s starting to feel that way once we get back over 50 then hey it is definitely in striking distance if you remember back in november we watched the price of bitcoin uh you know in october and november go from uh you know the 40s all the way to almost 70 000 it can happen like that so what are these two catalysts and why are they so massive for bitcoin and ethereum well for bitcoin we have the potential of an etf sorry i cannot get this thing right of an approval.

Now what does this mean well etf is an electronic traded fund and what it is that it basically trades it’s an institutional vehicle for trading crypto it’s a way that institutions can get in trade crypto get exposure to the market without having to go full in on crypto that’s the best way to really explain it we have a futures etf that was approved we have two i think actually um i think it’s the uh bitwise and maybe the pro shares or maybe it’s pro shares and bitwise whatever it is i don’t even know i don’t trade these things but these were approved in the fall and what did that lead up to all-time highs for bitcoin but even in the fall we told you that it was unlikely that we were going to get a spot etf um approved now what’s the difference between the futures and a spot a spot etf the balance of these trades has to be settled in actual bitcoin with futures they can be settled in u.s dollars.

Which kind of defeats the point of having an asset with a cap supply like bitcoin so the long and the short of it is when we get this spot etf approved we are going to be able to see the full power of bitcoin in the institutional market and definitely we will see a bigger pump than we saw in the fall for the uh for the uh futures approval now here’s the issue i don’t really have any evidence to tell you that this is getting approved in the next one to two months other than one thing and that is that rao powell former goldman sachs uh trader and uh you know crypto guru at this point he runs real vision finance an incredible channel on youtube he is saying that he is hearing from the inside that we are getting these approvals in april and may for a spot.

this is the catalyst now we did not see highs for bitcoin like we thought we were gonna see we thought we were seeing at least six figures but we didn’t get even close i mean relatively close to seventy thousand dollars so we haven’t seen dramatic drops in the bear market which leads me to believe that we might be seeing benjamin cowan’s lengthening cycles theory playing out and that’s really bullish for this year uh we certainly didn’t want that to play out last year.

Because we wanted to go to 100 figure or six figures 100k did not get there this is kind of our last hurrah our last hope to get there in the short term so it looks like if we were to get that approval that is the catalyst that can send bitcoin to the moon so that’s bitcoin but where does ethereum fall in this well what’s coming for ethereum is even more bullish than an etf approval and this is called the merge this is the transition of ethereum from a proof of work blockchain done with mining to a proof of stake blockchain where the transactions are pushed through and validated by nodes or you can own 32 ethereum you can stake on a node or in a smaller amount and stake on exchange and you can you know earn a return on that but this is going to do something incredible for the supply .

We also have the difficulty bomb should be going off this summer you can look into what that is it has to do with the difficulty um you know for bringing ethereum into the supply but this is the big number you have to understand they’re calling it a triple halving why because it’s like three bitcoin havings and one when it comes to what this is going to do to the supply and what this is going to do to the incoming supply to ethereum you’re not just having it once you’re having it more than three times.

when you look at these numbers the merge this is the key you don’t have to understand the merge you don’t have to even understand proof of work first proof of stake i don’t care about all that like that that isn’t going to make a a gigantic difference in your investments what is is the inflation when it comes to bitcoin it has a max supply of 21 million it has a circulating supply right now of 19 million four and a half million of those bitcoin are lost by the way or will never move for for various numbers of reasons mostly.

Because they’re lost so the the thing here is ethereum does not have a cap supply ethereum we are seeing millions of ethereum come into the supply every year which dilutes the value of the overall uh you know market cap of ethereum when you’re bringing in more coins it kind of defeats the purpose of crypto in a lot of ways so this triple halving this is not going to make ethereum deflationary where every year we’re going to see less and less but it is going to crush the incoming supply it’s going to crush the production if you will of ethereum we are going to go from an inflation rate a year-over-year inflation rate of 4.3 a new 4.3 of coins coming into the supply every single year that’s getting cut 90 percent this is going down to point four percent that is insane it is going to take 10 years for the amount of ethereum coming into the supply to match what up until recently one year’s worth of inflation was for ethereum.

So this is so incredibly bullish for the price that it is insane this is the push that very likely could push ethereum above bitcoin and market cap the one thing to keep in mind here though the one thing to keep in mind is if both of these two things play out well the merge is happening hopefully it does happen over the summer but if we get this etf approval are we going to see bitcoin or ethereum hit all-time highs first can an approval of a spot bitcoin etf be enough to keep bitcoin ahead of ethereum now i’ll tell you guys this all the time ethereum percentage-wise in market cap is much closer to bitcoin than any other coin is to ethereum.

And it’s not even close we’re really bullish on ethereum on this channel we’re also bullish on bitcoin but the potential in my opinion of ethereum is much higher than that of bitcoin there’s only so many people that want to store a value ethereum‘s use case is much wider it’s a new layer to the internet sorry guys i want to know which one of these things do you think is going to happen first are we going to get a bitcoin etf approval a spot approval for bitcoin or is the merge going to occur first and i want to know by the end of this year do you see bitcoin and ethereum hitting all-time highs true drop those down below in the comments we’re gonna go play ball have a blessed day

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