BREAKDOWN: Is the Bitcoin Bull Market Over?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 5 June 2021
⏱️ 9 minutes
🧾️ Download transcript
Summary
After the third-worst month in bitcoin price history, it’s worth asking.
This episode is sponsored by Nexo.io.
Today on “The Breakdown’s Weekly Recap” NLW looks at a growing number of predictions of a new “crypto winter” as well as some reviews of how companies and DAOs are preparing for that possibility. He shares poll results from whether Bitcoin Twitter thinks this bull market is over and discusses how the macro landscape may be playing into it.
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Transcript
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| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.0 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:16.0 | The breakdown is sponsored by nexo.io and produced and distributed by CoinDes. |
| 0:22.6 | What's going on, guys? It is Saturday, June 5th, and that means it's time for the weekly recap. |
| 0:28.7 | So what happened this week? I mean, honestly, it felt eerily quiet. It could be how many people |
| 0:35.2 | were down in Miami and not on Twitter. It could be that the last |
| 0:38.8 | few weeks have been a never-ending rain of fud bombs from Elon to energy to China that this week |
| 0:44.8 | felt comparably mild. It could also be price action or the lack thereof. This was the type of week |
| 0:50.7 | where your eyes sort of blur and every time you check the price, it feels more or less the same, even though you can't exactly remember what it is. What this week |
| 0:58.3 | certainly didn't have is any sort of rebound momentum, didn't have any big exciting announcements |
| 1:03.8 | that propelled the market forward. In fact, we instead saw the creep in of not only bare market |
| 1:10.0 | predictions, but bare market preparation. |
| 1:14.0 | First, the prediction side. |
| 1:15.8 | Boutique Investment Research firm, MRB Partners, released a report last week |
| 1:19.1 | titled, Has the Crypto Fever Broken? |
| 1:21.8 | They point to a couple potential reasons. |
| 1:23.7 | First, the FUD. |
| 1:24.6 | They note two main dimensions to this, environmental concerns and regulatory |
| 1:29.1 | risks. These are things we've discussed extensively on this show. Environmental concerns have been |
| 1:35.1 | particularly acute and in the media first since Tesla made their big Bitcoin buy, and second, |
| 1:40.5 | since Elon walked it back because of environmental reasons. Regulatory risks feel frankly |
| 1:45.9 | more like a forward projection, as we'll get into in a moment. But the second reason they gave for a |
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