

Macro picture, Bitcoin’s bull/bear case, DCG controversy & more | E1666
Jan 27, 2023
Vinny Lingham, co-founder of Civic and an expert in blockchain, and Sunny Madra, co-founder of Definitive Intelligence specializing in Web3 analytics, dive into the volatile world of Bitcoin. They dissect the macroeconomic forces at play and predict Bitcoin's price trajectory, pondering whether it will touch $30K or dip to $16K first. The duo also unpacks the controversy surrounding DCG, Gemini, and Genesis, along with the SEC's recent charges. Lastly, they critique Porsche's ill-fated NFT drop, exploring the pitfalls brands face in the Web 3.0 space.
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Bitcoin's Macro Dependence
- Bitcoin's price is tied to macroeconomic trends, rising when the market is "risk-on".
- Current market sentiment is bullish, but economic fundamentals suggest a potential recession.
Tech Slowdown as Leading Indicator
- Tech industry slowdown is a leading indicator for the broader economy.
- Reduced SaaS spending and layoffs will trickle down, impacting overall economic growth.
Bitcoin Price Reversion
- Bitcoin's price might revert to pre-2018 levels due to market corrections.
- This reversion is based on the principle of reversion to the mean.