Is The Bottom In For Alts? | 1000x
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I mean, I think that this recent move washed out all of the end of year sellers, and people are gonna rebuy come the 1st of Jan. Like, I'm not I'm not bearish. The cycle is not over. And, you know, I'm not in the habit of making bold predictions like that all the time. But, I mean, this is like a, in my opinion, no brainer point to get in the market and just ride it ride it up.
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Welcome back to another 1000x podcast. This is gonna be a fun one. A lot of stuff has happened in the markets since we both said that we were bullish as fuck. Clearly clearly, the market didn't really agree with us. I mean, one thing that I'll I'll point out is that, you know, it's very clear now. This is obviously hindsight talking, but it's very clear now that a substantial portion of the move above a 100 k was driven by a sailor just jamming it in. I mean, he got a average price of $106,000 and that's insane considering the fact that we traded above $106,000 for like 30 seconds. I mean, I t
Well, this sell off was not in my bingo card. I was, you know, buying all the way up, still buying on the highs. Not much as as far as, like, my portfolio is concerned, but just sort of, like, nibbling away at the market. Now what is sort of expected is that the idea that, you know, you when bull markets start to get white hot, they get super volatile. And this isn't like the craziest pullback in the history of pullbacks. This is like 10%, 15% at worst for some of the majors. So, like and what triggered it? It was it was really like a Fed type event. So, basically, you know, I don't think that
They're I think there's select there's select alts that are outperforming. What you just said just kinda clicked a puzzle piece in my head. I think a lot of the the exacerbation of the alt move. I mean, when B2C was trending down, alts were nukeing B2C was down, like, 3% one day and alts were down 15 to 20. I think a reasonable percentage of that. A lot of the selling was probably because of people who are protecting their p and l. I mean, a lot of people have made a lot of money this year, and they didn't want to get that washed out and they didn't know where BTC was going to go, but it was l
Yeah. Avi, I think that's a great take. I I agree with pretty much everything you said. In fact, I'm probably gonna go and buy some more crypto after we hang up the phone here. I I think this is about as like what what you described is sort of just a bull market washout. I agree. This it it literally looked like the textbook says it's supposed to look. You run up on euphoria. Nothing really that relevant changed, but you just got one little negative piece of news and anybody without a lot of conviction probably hit the sell button because there are a lot of unrealized profits out there. Now I
love it too, by the way. I follow the daily shots. Day and It's just sometimes sometimes it's just Daily shot's
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