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Tech Path Crypto Investing
Bitcoin Supercycle w/ Scott Melker
Dec 6, 2023
Scott Melker, host of The Wolf Of All Streets Podcast, discusses the possibility of a Bitcoin supercycle and the influence of traditional finance on the crypto market. He also talks about the recent updates on Bitcoin ETF approval, the importance of taking profits and diversifying in the crypto market, and the challenges faced by the SEC regarding crypto assets.
38:19
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Quick takeaways
- Bitcoin's recent price surge and increased interest indicate the beginning of a potential super cycle.
- The approval of ETFs, especially Bitcoin spot ETFs, shapes the narrative of crypto as an investable asset class and drives market adoption.
Deep dives
Bitcoin's potential super cycle
The podcast episode explores the concept of a potential super cycle in Bitcoin, discussing whether the current market conditions indicate the beginning of this cycle. The guest speaker highlights the Wall Street cheat sheet psychology of a market cycle and suggests that Bitcoin is currently moving from the disbelief phase towards optimism. While the podcast acknowledges that huge retracements and dips may occur along the way, it argues that the recent price surge and increased interest from mainstream media indicate the early stages of a new cycle. The episode also mentions an expert's prediction of a fresh crypto super cycle, with a potential to push Bitcoin above $500,000, although skepticism is expressed towards the idea of a super cycle, with emphasis on the cyclical nature of market movements.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode