BREAKDOWN: Bearish or Bullish? What Oil, Defi Hacks and Cash Hoarding Tell Us About Markets
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 20 April 2020
⏱️ 23 minutes
🧾️ Download transcript
Summary
It’s hard to look at recent news from both crypto and traditional markets and not feel like we’re getting pretty mixed signals. Stocks have been recovering, but oil is hitting historic lows. DeFi suffers a major hack over the weekend, but Coinbase sees a major spike in $1200 transactions right as $1200 stimulus checks hit. Cash hoarding is giving pretense for eliminating privacy-preserving money, but one of the world’s most successful hedge funds has authorized investment in bitcoin futures.
On today’s episode of The Breakdown, NLW separates bullish from bearish signals for the strange in between times.
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Transcript
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| 0:00.0 | Welcome back to The Breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW. |
| 0:15.0 | The Breakdown is distributed by CoinDesk. |
| 0:20.4 | Welcome back to the breakdown. |
| 0:22.6 | It is Monday, April 20th, and I should probably make a 420 joke, but I don't have it in me. |
| 0:28.0 | So today what we're going to do is we're going to look at a bunch of the conversations |
| 0:31.9 | and happenings and news from this last weekend and put it into one of two categories. So this is a bullish versus |
| 0:39.0 | bearish, what recent news should make us think about Bitcoin or crypto or the markets at large. |
| 0:44.9 | Basically, I wanted to find a way to talk about recent news that wasn't just here's a thing that |
| 0:49.5 | happened, but put it in some context. And the reason that I think this might be relevant |
| 0:54.1 | right now is that we're in this |
| 0:55.3 | very weird feeling in between moment where it seems like in certain contexts this COVID-19 crisis |
| 1:03.0 | has plateaued and maybe is on the way down from a health perspective, right? I think New York is the |
| 1:08.5 | epicenter of this in the U.S. and we're seeing some progress there. |
| 1:13.5 | Now the question becomes how to open up intelligently, how fast different markets are going to |
| 1:18.4 | recover, how long and how severe the knock-on effects are going to be. And so it's still, |
| 1:23.8 | although we're hungry for the things around us to be better and back to some |
| 1:28.3 | sense of normal, there's still a long way to go. |
| 1:31.5 | And as we try to piece through that, there are real different indicators that can maybe |
| 1:36.7 | help us understand where we are. |
| 1:39.1 | Obviously, I'm going to focus a little bit more on the context of the Bitcoin and Crypto |
| 1:42.6 | markets being that this is the breakdown and that's kind of where our focus is, but I'm not going to restrict it to that. |
| 1:48.1 | With all that said, let's dive into bullish versus bearish. |
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