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Hey Satsmate Stackers,
I hope you have all been having a great start to your summer! It is crazy right now to see all these names in tech go up 20, 50-80% in just a matter of days. We are what I believe to be approaching peak euphoria in much of the stock market, and I'm sure many of us in Bitcoin are asking the same question: Why has Bitcoin stalled, or traded sideways during this period? It can be very difficult to see everyone getting massively rich off their trades, but I think there is a reason behind all of this. In this podcast, I discuss my current sentiment on Bitcoin and some of the reasons for neck-snapping returns in the stock market. Specifically, I go over the following:
- No, I don’t think Bitcoin is cooked, but there is a huge divergence in the stock market and what Bitcoin has done
- Why is Bitcoin this weak right now compared to the stock market?
- Many people who bought the ETF didn’t really know what it was, and it is the first risk-off thing they will get rid of
- Lack of conviction amongst many new people entering the space
- The stock market is getting carried by the top 10% of AI and tech stocks, but bitcoin isn’t an AI play
- The community (as mentioned previously) is near all-time lows; people’s conviction isn’t there
- A lot of infighting in the community (some examples)
- Paper exposure is likely at an all-time high
- I believe we are in a bear market in terms of the bitcoin cycle, so that is contributing to this as well
- Many of the top 10% of society are pumping up the stock market, and something has got to snap soon
- Unsustainable p/e levels, a lot is similar to right before the 1929 crash or the 2007 market crash
- People could be losing faith in it, and price suppression could be occurring with hedge funds, and others
- I’m still very bullish right now, given macro uncertainty, future money printing, and the need for a global neutral money to settle trade in
- I don’t think the dollar or the yuan will be used to settle trade in the future; we will need a global neutral money to do that
- Directionally, I think it is good that it isn’t correlated as much, not ideal for holders like me - but still something that isn’t awful
- Stocks further have a lot of flows from pensions, indexes, passive investors, and bitcoin doesn’t have this reach as much
If you like this, feel free to share it, leave a like, or comment. Also, check out the links in the description that help support my channel and podcast.
Best Regards,
SatsMate Stack
Referral to Stacker News: Circular economy with bitcoin discussions involved! https://stacker.news/r/SatsMate
Primary Bitcoin Buys Through Strike: The primary place I go to buy Bitcoin. https://invite.strike.me/2MSTYG
Secondary Bitcoin Buys Through Fold: A nice exchange w/ rewards & bitcoin buys.
https://use.foldapp.com/r/HTFKVY9L
https://zbd.gg/GalmaDuFria This is my personal QR code. It allows anyone to send me Bitcoin and messages directly to my ZEBEDEE. lnurl1dp68gurn8ghj7ctsdyh85etzv4jx2efwd9hj7a3s9aex2ut4v4ehgttnw3shg6tr943ksctjvajhxtmpxuurjcmxxvuz6wf58q6z6drpv5uj6c3jvy6z6epexe3ryd3kxe3kvcnr7y2uzj
Financial Disclaimer: Nothing stated in this video is a recommendation from SatsMate to buy or sell a particular security or asset class. It would help if you wisely considered your tolerance for risk, time horizon, and financial goals before investing.
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