This can be a transcribed excerpt of the “Bitcoin Journal Podcast,” hosted by P and Q. On this episode, they’re joined by Dr. Jeff Ross to debate how present macro occasions are affecting bitcoin and what to anticipate from the bitcoin value.
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Jeff Ross: Right here’s what I wish to say about bitcoin: I’m a wild fanatic about bitcoin for its long run prospects. I’m nonetheless very bearish macro-wise. I nonetheless suppose threat property are gonna get hammered. I feel it’s fairly potential that bitcoin — let’s discuss by way of likelihood. This can be a actually lengthy reply to your query. There’s an opportunity bitcoin is bottomed and $17,600 was the underside and there’s a superb likelihood that it might simply do a gradual grind larger. There’s additionally an opportunity that if the Fed pauses, that can get a extremely spectacular rally in threat property and that bitcoin will even catch a powerful bid if that occurs. But when issues proceed to worsen and now we have a capitulation-type occasion in shares, I feel it sucks bitcoin down with it. I feel if we get one other crypto-contagion occasion that I’m positive you guys have already talked about right this moment with SBF [Sam Bankman-Fried] and FTX and Alameda and Binance and all that rubbish — if now we have one other crypto-contagion occasion, I feel it pulls bitcoin down too. So though bitcoin doesn’t deserve it and though bitcoin has nothing to do with that rubbish, it’s nonetheless gonna get sucked down alongside of it. That’s simply what occurs. Anyway, that’s my actually lengthy reply to say I’m type of cautiously optimistic based mostly on its value motion for a commerce, however I don’t suppose we’re out of the woods but. I feel within the subsequent 9 months issues are gonna be nonetheless form of tough and we’ll see what occurs.
