<\/p>\n
You can also listen to this podcast on iono.fm\u00a0here.<\/p>\n
That 40% drawdown is about half the size of previous bear-market declines, leading some to believe we have not yet seen the bottom in this cycle.\u00a0Some see parallels with the early days of stocks like Apple or Tesla, when extreme volatility eventually gave way to more predictable \u2013 and bullish \u2013 trading patterns.<\/p>\n
In this Moneyweb Crypto Podcast, Sound Money Capital CEO Rob Price explains where we are in the current cycle.<\/p>\n
\u201cI think we\u2019re in a bottoming process,\u201d Price says.<\/p>\n
\u201cThere was a sharp drop from October, November last year to February this year, where we saw significant liquidations, capitulation, losses, and then limited response to negative news in the weeks thereafter. That suggested for us that we were in a bottoming process.\u201d<\/p>\n
Read:<\/p>\n
Bitcoin hits two-week low as liquidations top half a billion
\nBitcoiners outraged by SA\u2019s \u2018biggest exchange control\u2019 revamp in decades<\/p>\n
\u201cDoes it mean that price can go lower? Of course, prices can go lower, but bottoming is a process and also reallocation is a process.<\/p>\n
\u201cTrying to predict the bottom is foolhardy. I think it\u2019s more important to understand kind of what season you\u2019re in and how you want to act during that season.\u201d<\/p>\n
Just as Tesla and Apple \u2013 like many other tech giants \u2013 endured extreme volatility in their early years, bitcoin appears to be going through a similar phase.<\/p>\n
Extreme volatility remains a barrier to broader Bitcoin adoption, so a reduction in volatility could help expand the pool of potential investors in the years ahead.<\/p>\n
Billionaire investor Ray Dalio says he prefers gold over bitcoin and argues that central banks are unlikely ever to accumulate bitcoin as a reserve asset in the same way they do gold or USD. He\u2019s right in some respects, says Price.<\/p>\n
Central banks are not loading up on bitcoin in the same way they are buying gold \u2013 at least not yet.<\/p>\n
They are conservative by nature and may wait to take direction from leaders such as the US.<\/p>\n
Listen\/read:<\/p>\n
Is Ray Dalio\u2019s bitcoin negativity justified?
\nThe crypto meltdown \u2013 an opportunity or a trap?<\/p>\n
\u201cIf you pull back the lens, bitcoin still has a lot of superior qualities relative to gold. Gold is a great asset, I like it, but it\u2019s not particularly portable. [If] you want to send large amounts across the globe, that is a challenge. Storing it is expensive. Moving it is expensive.<\/p>\n
\u201cBitcoin \u2013 you can send billions of dollars worth across the world at pretty low cost. Storing it is pretty easy, both for large institutions and for smaller institutions. It\u2019s a much more tech advanced asset. It\u2019s definitely not black or white.<\/p>\n
\u201cBitcoin faces some challenges relative to gold, but long term I\u2019m still very excited about the prospects for Bitcoin relative to gold.\u201d<\/p>\n
Read:<\/p>\n
Has Bitcoin become a one-buyer market?
\nStrategy\u2019s Saylor signals potential shift to bitcoin sales<\/p>\n
For previous Moneyweb Crypto Pod episodes,\u00a0click\u00a0here.<\/p>\n
You can also sign up for our\u00a0crypto newsletter.<\/p>\n
#bitcoin #buy #Moneyweb<\/p>\n","protected":false},"excerpt":{"rendered":"
You can also listen to this podcast on iono.fm\u00a0here. That 40% drawdown is about half…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[95,152,495],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/7437"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7437"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/7437\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}