This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Dr. Jeff Ross to focus on how present macro occasions are affecting bitcoin and what to anticipate from the bitcoin worth.
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Jeff Ross: Here’s what I like to say about bitcoin: I’m a wild fanatic about bitcoin for its long run prospects. I’m nonetheless very bearish macro-sensible. I nonetheless suppose threat belongings are gonna get hammered. I feel it’s fairly attainable that bitcoin — let’s discuss when it comes to likelihood. This is a extremely lengthy reply to your query. There’s an opportunity bitcoin is bottomed and $17,600 was the underside and there’s likelihood that it may simply do a sluggish grind larger. There’s additionally an opportunity that if the Fed pauses, that may get a extremely spectacular rally in threat belongings and that bitcoin will even catch a robust bid if that occurs. But if issues proceed to worsen and now we have a capitulation-sort 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 in the present day 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 regardless that bitcoin doesn’t deserve it and regardless that 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 primarily based on its worth 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 sort of tough and we’ll see what occurs.
