It has been a cruel summer for crypto. Is bitcoin going to be stuck in a cold, long winter?
Dan comments on how risk assets have not performed well in this environment.
Dan says it will take a Fed pivot for Bitcoin to get going again and that he doesn't see that coming in 2022.
Dan comments on how risk assets have not performed well in this environment.
Dan says it will take a Fed pivot for Bitcoin to get going again and that he doesn't see that coming in 2022.
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00:00 Cruel summer for Bitcoin prices falling to their lowest level since mid-june today at one point dropping below
00:05 $19,000 the total market cap for all crypto fell back below a trillion dollars
00:10 So as we prepare for fall is Bitcoin going to be stuck in this cold long
00:14 Winter Dan, what do you think?
00:17 Well, it feels like it, you know, Tim just mentioned something that long-duration
00:23 Profitable risk assets have not performed well in this environment and that clearly is the case for Bitcoin and aetherium
00:30 And I'll just say this, you know with Bitcoin at less than 400 billion
00:33 It's trading like Facebook's trading for all intents and purposes. So how does the narrative change aetherium?
00:39 We know that they have this merge coming later this month. That should be somewhat of a catalyst, but I'll just say this
00:45 You know, the Bitcoin dominance of this space is at its lowest levels in a very long time
00:50 I just don't think that bodes very well guys been saying it it's gonna take a Fed pivot for Bitcoin to get going
00:56 I don't think that's coming in 2022