BREAKDOWN: Why This Autumn Could Be Bitcoin Season
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 30 September 2021
⏱️ 21 minutes
🧾️ Download transcript
Summary
From a more favorable regulatory standing to mining fundamentals and adoption, autumn looks like a good time to bitcoin.
This episode is sponsored by NYDIG.
On today’s episode, NLW looks at why bitcoin could be poised to grab more mindshare this fall, including:
- Coming regulatory pressure on DeFi and stablecoins
- Regulatory clearance for bitcoin (and a bitcoin futures exchange-traded fund)
- Fundamentals and the great hashrate migration out of China
- Adoption and proof points on Twitter and in El Salvador
- Historical cyclical patterns
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NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
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“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: TRAVELARIUM/iStock/Getty Images Plus, modified by CoinDesk.
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Transcript
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| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.1 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:16.2 | The breakdown is sponsored by Nidig and produced and distributed by CoinDes. |
| 0:22.6 | What's going on, guys? It is Thursday, September 30th, and today we are talking about why this fall, |
| 0:29.8 | aka this autumn, could be Bitcoin season. So one quick correction before I get into this. |
| 0:37.4 | Yesterday, most of the times that I was referring to Cracken Settlement with the CFTC, |
| 0:42.2 | I said the correct number of $1.25 million. |
| 0:45.5 | But at one point in the show, I said that their settlement was $125 million, |
| 0:50.3 | which obviously would have been a much bigger deal. |
| 0:53.0 | Just wanted to make it clear that it was a |
| 0:54.7 | $1.25 million settlement. All right, let's talk about why this fall could be Bitcoin season, |
| 1:01.6 | and to get into the conversation, let's talk about how the crypto industry uses the word |
| 1:07.0 | season in general. This refers to a sort of cyclicality that has been present historically |
| 1:13.7 | in the crypto industry. Basically, the idea is that as part of the market cycle, a Bitcoin |
| 1:20.2 | rally tends to then move into what people have called alt season. The idea here is that people |
| 1:26.5 | who have made a bunch of money and Bitcoin |
| 1:28.4 | then recycle their profits into alts, which they view at that part of the cycle, is having |
| 1:34.0 | a bigger opportunity to grow more over some period of time. Those alt cycles always encourage |
| 1:40.3 | a sort of mania, and then eventually they pop, and people who are wanting to stay in the |
| 1:44.9 | crypto industry retreat to some safer assets, specifically Bitcoin. We languish in obscurity |
| 1:50.5 | for a while, and then eventually the cycle starts again. Now, of course, there are lots and lots |
| 1:55.7 | of debates about the super cycle, and whether a super cycle, or at least least just a breaking of the traditional four-year |
... |
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