It is a transcribed excerpt of the “Bitcoin Journal Podcast,” hosted by P and Q. On this episode, they’re joined by Dr. Jeff Ross to debate how present macro occasions are affecting bitcoin and what to anticipate from the bitcoin worth.
Pay attention To The Episode Right here:
Jeff Ross: Right here’s what I wish to say about bitcoin: I’m a wild fanatic about bitcoin for its long run prospects. I’m nonetheless very bearish macro-wise. I nonetheless suppose threat belongings are gonna get hammered. I believe it’s fairly attainable that bitcoin — let’s speak by way of likelihood. It is a actually lengthy reply to your query. There’s an opportunity bitcoin is bottomed and $17,600 was the underside and there’s a superb likelihood that it may simply do a gradual grind greater. There’s additionally an opportunity that if the Fed pauses, that can get a very spectacular rally in threat belongings and that bitcoin will even catch a robust bid if that occurs. But when issues proceed to worsen and we’ve a capitulation-type occasion in shares, I believe it sucks bitcoin down with it. I believe if we get one other crypto-contagion occasion that I’m positive you guys have already talked about right this moment with SBF [Sam Bankman-Fried] and FTX and Alameda and Binance and all that rubbish — if we’ve one other crypto-contagion occasion, I believe it pulls bitcoin down too. So although bitcoin doesn’t deserve it and although bitcoin has nothing to do with that rubbish, it’s nonetheless gonna get sucked down alongside of it. That’s simply what occurs. Anyway, that’s my actually lengthy reply to say I’m form of cautiously optimistic primarily based on its worth motion for a commerce, however I don’t suppose we’re out of the woods but. I believe within the subsequent 9 months issues are gonna be nonetheless sort of tough and we’ll see what occurs.