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 that you should get up to 250 dollars totally for free by going to blackfy met, kevin.com bf use that link, and you can get up to 250 by transferring your cryptocurrency over to blockfy to earn yields on Your cryptocurrency, it's like cryptocurrency savings account, go check it out. Medkevin.Com bf. They also have a credit card that will pay. You in cryptocurrency rewards okay, folks, first 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 got ta get to where we're seeing a big flip in the amount of money invested by institutions.

You got ta 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 gon na 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 gon na 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 gon na 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.