Crypto is about to EXPLODE.

hey everyone meet kevin here in this

video i'm going to break down multiple

different catalysts as to why

cryptocurrencies might be on the verge

of exploding

first we're going to talk about the

hedge fund catalyst i know we don't like

talking about hedge funds on this

channel but in this case we're going to

use their data against them then we're

going to talk about some trends

happening in ethereum especially

regarding nfts and then we'll talk about

the bitcoin futures etf and a huge

announcement that just came out by the

grayscale bitcoin trust folks let's get

right into this right after i mentioned

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crypto hedges

first of all median performance for

discretion discretionary loan crypto

funds in 2020 was 294

which is huge and this is going to lead

to a lot of enthusiasm for crypto

related assets in hedge funds and

traditional funds in the future but

there's some issues in the way which

we're going to cover in a moment because

those issues are starting to evaporate

some of the research though that i was

looking at thanks to a report by pwc was

pretty fascinating it indicated that the

most common

currencies traded by hedge funds were

the following bitcoin at 92 percent

ethereum and only 67 percent i was

surprised by that i was expecting

aetherium to be like in the 80 plus

percent range

litecoin came in as the third most

traded coin by hedgies at 34

then you have 30

chain link 28 polka dot and uh 27 aid

what's crazy here is cardano is missing

i was shocked by this but anyway 85

of crypto hedge funds

intend to quote deploy more capital by

the end of 2021 well that's bullish and

only about one-fifth of normal hedge

funds in the united states right now

actually invest in digital assets of the

ones that do their average allocation is

only three percent that's a huge huge

potential for growth and in my opinion

very very bullish for crypto the biggest

barrier though in this survey by pwc for

hedge funds to get into cryptocurrencies

more broadly than three percent because

three percent is kind of just like i'm

touching it to say i'm in it but i'm not

really in it right my portfolio

allocation is almost ten percent which

is like three and a half x that which is

great

but anyway uh the biggest barrier we're

seeing right now is that 82

of survey responders that is hedge funds

who responded are worried about

regulatory uncertainty this is why so

many people think that some level of

positive cryptocurrency regulation or

just cryptocurrency regulation in

general is actually going to be

extremely bullish for crypto and i

couldn't agree more remember it's gary

gensler who says the automobile became

popular once we started having traffic

lights and seat belts

most importantly traffic lights and stop

signs seat belts came a little later but

but anyway 77

of survey respondents said that client

reaction and reputation was actually

holding them back from investing more in

cryptocurrencies

68

lamented that they don't have enough

knowledge in cryptocurrencies to feel

savvy enough to invest that's insane

that think about that for a moment that

means almost

four out of five are too worried about

their clients reactions and their

reputations to invest in

cryptocurrencies and and one

third i'm sorry two-thirds of hedge fund

managers feel

like they lack the knowledge to actually

invest in cryptocurrencies now

personally i think there are a lot of

folks who think they know a lot more

about cryptocurrencies than i actually

do and i like to be what i call

consciously incompetent that is a way of

saying i know that i don't know

everything regarding crypto and i work

every day to learn more i think that's

really really really important because

crypto is actually really cool there is

an endless amount of knowledge to be had

it's awesome but anyway

the biggest investors in these hedge

funds are actually high net worth

individuals and you're not really yet

seeing asset managers or wealth

management funds get into

cryptocurrencies yet although ross

gerber

kawasaki does so all of this together in

my opinion is really bullish you start

getting asset managers in bullish wealth

managers in bullish the fact that

two-thirds of fund managers don't feel

like they have enough knowledge to get

into cryptocurrencies uh that's bullish

think imagine if they all actually

thought they did there'd be a lot more

money in cryptocurrency 77 worried about

their clients

how could you invest in those digital

currencies you know like think about

that the fussiness think about the

people who are wealthy today and how

they probably don't want their ad

their money allocated to

cryptocurrencies because they're worried

or they're confused or oh this is

foreign

you know

so that in my opinion very very very

bullish the more we get funds involved

in crypto the better we already know

that seventy percent institution or

seventy percent of trading is done by

institutions but now we gotta get to

where we're seeing a big flip in the

amount of money invested by institutions

you gotta get up from that three percent

threshold that's pretty freaking low

right now which is a bullish

sign for prices today

now let's look at some technicals if we

look at ethereum right now we know we're

knocking on the door of this

psychological 4 000 threshold we've

bounced off this many times this is the

weekly chart my top line is a weekly

chart this line right here at about

37.50 which we're actually sitting on

right now bouncing off and off of when

we look at the day chart is around that

37.50 number we keep bouncing off that

figure again on the day charts but this

is the weekly chart right now and what's

really neat is if we zoom out a little

bit we can actually see a very nice

wedge pattern beginning right here and

it's possible that we're going to break

this trend here on the weak pattern

once we at the same time break 4k and

it's possible that ethereum is just

going to explode up to the moon after

that which will be super exciting

especially since ethereum right now

represents about 45 percent of my

portfolio in full transparency but that

4000 level combined with this wedge

oh juicy juicy juicy now obviously if

you watched my shiva inu video about my

complaints regarding the nft drop for

sheba enu we know that ethereum gas fees

are still very frustrating but the cool

thing about ethereum and this is why i

haven't lost faith in ethereum is that

we have a whole crapload of new d5 apps

and stable coins that are constantly

grabbing for network capacity and that's

why we see so such high gas fees

sometimes so much network congestion it

doesn't make sense to try to pay for a

bag of chips with ethereum right now

because you're going to get destroyed in

gas fees now some things have started to

help with this and even though they

haven't helped as much as they

you know things will help in the future

it's nice to know that ethereum is

improvable right we know this like eip

1559 helped it helped by enabling people

to bid on gas fees and again this is

useful because nfts are exploding and

you want to be able to adjust how much

you're willing to pay especially in

urgent times whereas when you have a

transaction that's not as urgent you

want to be able to pay less now remember

all these gas fees also help make

ethereum deflationary we're still not

deflationary it just helps get us in

that direction we're still minting more

but anyway uh what's awesome what's

awesome awesome awesome for ethereum and

in my opinion it's gonna be a huge

catalyst in the future is moving to that

proof of stake model going through that

hard fork in my opinion it's going to be

very very big it's going to help get us

a lot more mainstream and it's gonna

make ethereum pretty big competitor

which it already obviously is i mean

it's much larger than but to cardano

which is one of the big ones already at

proof of stake and that's of course in

addition to others that are already

there as well but ethereum big potential

here once in my opinion we get to proof

of stake and we start getting those gas

fees really uh more regulated maybe i

shouldn't say regulated but down as we

get more supporting capacity but anyway

uh ethereum hash rates for what it's

worth are back at record highs after we

had the chinese shutdown of miners and

this is good this is uh basically saying

that we're seeing miners back to work uh

as opposed to being shut down as they've

relocated out of china elon musk it is

also being reported that elon musk might

be coming back to cryptocurrency in

terms of his bitcoin holdings which

should be pretty bullish for bitcoin

uh and that is because elon musk in the

summer when he was an interview with in

an interview with jack dorsey and kathy

wood which i covered on the channel

covered the entire interview and then

summarized it afterwards you could find

that on my channel but anyway in that

interview he alluded to being willing to

go back to accepting bitcoin as a method

of payment for teslas especially since

now we're probably a lot cleaner than

all that dirty coal we were burning in

china for bitcoin but that might still

remain to be determined we do know that

uh tesla holds a probably at this point

a couple billion dollars worth of

bitcoin and elon musk has alluded to the

fact that spacex might already be in

crypto as well both of these when they

come out should be pretty bullish uh for

a bitcoin which obviously something

that's bullish for bitcoin can tend to

be very bullish for ethereum as well

uh also worth noting that coin gecko

reports that the d5 market is just five

percent of the crypto market and that's

it the entire crypto market d fi is just

five percent of it d5 does make up about

30 percent of the ethereum market though

and a lot a lot of i think enthusiasm

will come to d5 personally this is just

my opinion once we get

d5 a little bit more user-friendly that

shiba inu drop wasn't very good okay but

anyway

uh let's now talk about the bitcoin etf

briefly here a big news on first of all

the grayscale bitcoin trust grayscale

bitcoin trust is a way to

buy bitcoin for institutional investors

who can't directly hold cryptocurrency

so they invest in this fund essentially

that holds cryptocurrency uh and the

grayscale bitcoin trust announced this

morning that they want to convert their

entire trust

into an etf that's bullish that's very

very bullish that is big we are waiting

for a legitimate bitcoin etf to come and

a lot of folks cannot wait for this now

it is also worth noting that right now

we do have bitcoin futures etfs coming

up now bitcoin futures etfs this is very

very important very different from a

bitcoin etf a bitcoin etf in theory

would actually hold bitcoin so that way

it's like hey i'm investing in let's say

btcx let's say that's an etf okay i'm

just making that symbol up then you put

a hundred dollars in that hundred

dollars should actually hold 100 of

bitcoin uh somewhere now you wouldn't

have uh that as access to you wouldn't

have a private key to this right so you

wouldn't have this in your wallet but in

theory you would put your trust in this

etf provider and they would hold your

bitcoin a bitcoin futures etf is like a

big step removed from this okay so in my

opinion stay away from the bitcoin

futures etf why because the bitcoin

futures etf uh like

bito which should be trading today

that's pro shares or valkyries which is

btfd which is uh sort of a funny way of

saying buy the f and dip and that's

actually their ticker symbol which quite

frankly is kind of brilliant but anyway

the valkyrie bitcoin future etf is

another one that'll probably start

trading later this week along with

multiple others these futures etfs in my

opinion will rob you uh in short if you

don't know what contango is in futures

contracts you should not be investing in

a bitcoin futures etf stay away

don't do it don't touch away that's

because you're gonna have huge drag with

fees as they continue to buy bitcoin

futures at more expensive prices

relative to where bitcoin actually is or

likely will be and these are big issues

it's going to create a big drag for the

fun bitcoin futures etfs in my opinion

are meant for trading not for huddling

so if you want to huddle buy bitcoin

just my opinion don't sue me bro okay

all right folks thank you very much for

watching this video if you found this

video helpful please subscribe please

share it i think there are a lot of

crazy positive catalysts that we talked

about in this video and folks

remember to go to mckevin.com bf to get

yourself up to 250 and free money from

block font and folks we'll see in the

next one thanks so much

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