Bitcoin Bull Market Strategy - Feb '21 Trading Update with Willy Woo - WBD313
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 23 February 2021
⏱️ 65 minutes
🧾️ Download transcript
Summary
Location: Remotely Date: Monday 22nd Feb Company: Hypersheet Role: Co-Founder
Since last month's episode with Willy Woo, bitcoin went from ~$30,000 to a new all-time high of over $58,000. This price action came on the back of a couple of massive announcements:
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Tesla added $1.5bn of bitcoin to its company treasury.
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MicroStrategy announced a raise of $600m in a convertible senior note sale to buy bitcoin before reassessing and increasing the raise to $900m. Upon completion of the raise, the company estimated the proceeds to be close to $1.05bn
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The bitcoin market cap broke through $1 trillion
While corporations are still driving the bitcoin price, Willy Woo believes that we have entered a new phase of the bull market and that retail traders have arrived. As stated in his recent newsletter: "Bitcoin's blockchain is seeing 20,000 new users per day, this is a sudden 3x increase over the normal 5,000-10,000 per day previously. It's a very sure sign that retail investors are now coming in. They typically start ramping up in numbers during the middle phases of bull markets."
In this interview, we discuss the Tesla & MicroStrategy news, the recent drop in price and what retail entering the market will mean for bitcoin.
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Transcript
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| 0:00.0 | Buy the dip is the dip is the main thing you want to do and the only time you really want to consider selling the top is the macro top. |
| 0:15.0 | Hello there from Bedford in the United Kingdom. |
| 0:18.0 | How are you all? |
| 0:19.0 | So Bitcoin has just crashed this morning. |
| 0:21.0 | It's just gone under $50,000. I hope you are all holding strong and didn't catch a |
| 0:27.2 | dose of Dave Port Noise Jelly Hands. Anyway, listen, welcome to the What Bitcoin |
| 0:31.7 | did podcast which is brought to you by the mighty |
| 0:33.8 | quacken, the best place to buy it sell and trade Bitcoin. |
| 0:36.5 | I'm your host Peter McCormack, and today I have my monthly catch up with on-chain data and |
| 0:41.8 | trading expert Willy Wuwoo where we discuss strategies for a |
| 0:45.5 | Bitcoin ball market. But before that I do have a message from my amazing show |
| 0:49.6 | sponsors. Okay we're going to kick off today with Exodus Wallet, who I have been using as my mobile and |
| 0:54.9 | desktop wallet for managing the Bitcoin for my business. |
| 0:58.4 | I've been telling you about this for a little while now. |
| 1:01.0 | I'm increasingly using Bitcoin to run my business and now seeing |
| 1:04.6 | as my bank has written to me and said hey Pete we're closing down all your |
| 1:08.2 | accounts after 25 years of business it looks like I'm going to have to increasingly be using Bitcoin to run my business. |
| 1:15.2 | And so a while back I needed a wallet, something where at the end of the month where I get paid |
| 1:19.7 | in Bitcoin and I paid people in Bitcoin, I could do this and ordered it and keep a track record of my |
| 1:24.7 | accountants. And when Exodus reached out to me, I checked what they were doing for |
| 1:28.7 | while it's bad-ass. So I signed up and started using it. Now listen if you want to check out Exodus please do please |
| 1:34.9 | head over to Exodus.com or just search for Exodus in the Google or Apple app stores |
... |
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