Why It's Time To Be Bullish
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Guess if some alts have bottomed out or they're starting to rally even now despite this, like, dire fucking sentiment, then we could see some pretty explosive price action. There's no way the cycle is is gonna be over if we're base if Bitcoin's on the highs or basically close to the highs, all time highs, and sentiment is this bad. No. Cycles end when you run out of buyers, not when you have a bunch of, like, depressed, people who are, like, on the sidelines. No way. This thing's gonna keep running. This
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Welcome back to another ThousandX podcast. We are coming live to you. I guess not live because you're listening to this, but Joan and I are live podcasting together talking about the markets. What's kind of nuts, Jonah, is that until today. So Thursday, Friday, Saturday, Sunday, if you turn on the candlesticks on Bitcoin, just pull up the chart, we literally closed within a hundred dollar band every day. They're Wix for sure, but it's kind of insane. I mean, like, the the close was $96.05 $6.04 on Thursday, $96.05 $3.07 on Friday, $96.04 76 on Saturday, and $96.04 75 on Sunday. I mean, Bitcoin
Yeah. It's it's interesting you bring this up. Eight if you just set your your candlesticks to daily, they've got eight candles that cross through the current price, eight consecutive candles, which is pretty nuts. And, if you go back to the first time we breached this price level, which would have been November twenty first of last year, there are dozens more candles. Like, we've been locked in this range for, you know, almost three months. And what's weird is, like, I think you tweeted this, Avi. You said that rarely do markets, like, just sort of plateau and consolidate into an equilibrium
All very good questions. And I wanna start by framing it a bit differently. Because I think for the longest time, the way that we've talked about the market is we talk about it in terms of up or down. And while we've said in the past that there's gonna be a lot of dispersion and there has been, like, our framing kinda remains the same. Like, are we going up or are we going down? And I think we have to start talking about asset by asset, whether it's going up or going down. Because the world I mean, we're just in such we're in a very different place today where Bitcoin can be basically at the h
Does anyone still hold ETH? It's not trading like people are hanging on to their ETH. I'm even getting No. I I'm getting calls from, like, old friends that I onboarded to crypto back in, like, 02/2019. Like, hey, man. Are you still long ETH? What should I do with this crap? You know? It's it's crazy. Yeah.
I mean, I think a lot of people are tripping out. I I I think that there's still a lot of that holdover from uninformed market participants that bought Bitcoin and Ethereum a long time ago, and they've seen their crypto portfolio do well. And maybe they're not checking that close, and they see ETH maybe maybe they've made a little bit on ETH, but they don't realize, like, how poorly it's done in general. I think a lot of those people are slowly getting out. I mean, you have that realization. I think I bothered you so much about getting rid of all of your ETH that you finally did it a while ago
You you saved me a lot of money. And it wasn't like we had some sort of backroom conversation. I got out, and then we podcast about it. It was like you were y
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