Bitcoin Breaks $100k, Are We So Back?
Episode publishedPodcast: 1000X1000X
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If you cut your losses early and you and you let your winners run, and you you, you know, you you try to find those asymmetric bets, you could even win 40% of the time. You can lose on most of your trades and still make money. The the key is, like, finding those asymmetric opportunities, which is which is kind of what that tariff moment was. It was a very asymmetric moment to shove in your chips.
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Welcome back to another ThousandX podcast. It has been a fun week. I was 100% wrong with my previous call of range. I thought that we were gonna get some I thought that we're gonna get some, you know, consolidation for a bit. Turns out everything just decided to rip up, like, massively. ETHBTC sort of the huge winner here that everyone's been talking about. I think, like, my my my personal take is still what it was before. I think on the last podcast, I didn't expect it to happen so fast, but on the last podcast, I said, you know, there's some perpetual shorts in the market. You just have to w
Avi, I I'm trying to decide if we are so back. Like, crypto crypto, I did not expect this either. I'm positioned for it, which is nice, but it's an unexpected surprise. I, I was sort of mentally preparing myself for another drawdown and maybe another month or three of just, like, painful sideways chop, but we just gassed higher. It's not entirely clear why. I, I still think that ETH is a a flaming pile of crap. I do think that it is a good short, but given my experiences attempting to, catch falling knives in crypto, so basically do the opposite of what you just described. Like like, something
I think long term, it's still it's still fucked. I mean, this is this is clearly like, from a from a trader's perspective, you know, you you you always have to pick your spots and you have to be careful, especially if you're gonna be shorting crypto assets as as you can see with ETH. I think one thing that was very clear is just how many people were short this asset as a as an alt pair. Like, I think that when when when ETH was rallying, they were actually, like, the when it had, like, that massive move up, it was outperforming so many different alts, and that's actually quite rare. And I thin
Yeah.
You know, that to me signals, okay, time to, like, you know, there there will be a time to short. Now if we saw tremendous amount of usage cropping up on ETH and we saw a lot of new people, you know, dropping, projects on ETH and hell, if we even saw MSTR competitors surrounding ETH. You know, what's funny is, like, we're seeing all these MSTR competitors pop up. We saw one for Solana. We saw one for, TAO come up. Where's the one for ETH? I think it's it's it's and probably it's, like, at some point, it's gonna come, but, like, I I just think people realize there's not that much appetite. Yeah
It's I mean, have you used ETH recently? Like, I I received some Tether on ETH recently, and then just, like, sending it to sending it to, you know, a centralized exchange to go buy some crypto with it. Like, I ended up spending a dollar of the tether, and I'm like, this isn't the point of crypto. I I know I'm, like, beating a very dead horse here, but, like, I just back in the day, it was so new and cool and, wow, world computer, like, programmable money. Now I'm just like, the space has just moved on and this tech hasn't. And bridging between ETH and, you kn
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