How to Trade the End of a Bull Market with Willy Woo - WBD327
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 29 March 2021
⏱️ 76 minutes
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Summary
Location: Remotely Date: Thursday 25th March Company: Hypersheet Role: Co-Founder
In the first two weeks of March, the bitcoin price bounced from around $45k to a new all-time high and local top of $62k. The price then dropped significantly, with many blaming CryptoQuant for the sell-off after posting a message in their Telegram group saying, "18,961 #BTC ($1,145,210,023) aggregated inflow to #Gemini: be careful downside risk from whale dumping" just moments before the price began to crash.
While the data was accurate and someone moved a large amount of bitcoin into a Gemini wallet, it was misleading. The move was from BlockFi into Gemini's custodial wallets.
But during these dumps, who are the buyers? Willy thinks the people buying the dip are 'Rick Astleys'; HODLer's of last resort who 'never give up, or desert bitcoin'.
In this episode, I talk to on-chain analyst and the co-founder of Hypersheet; Willy Woo. We discuss the drop from $62k, Cryptoquant's analysis, the "Rick Astleys" buying the dip and how to catch the top of the market.
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Transcript
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| 0:00.0 | You'd be crazy, right now, there's more buying the dip than ever seen before, a new record for 2021, |
| 0:11.0 | and we know the person that's buying the dip is |
| 0:13.2 | Ashley and he's not going to work us down. |
| 0:16.0 | Hello there from Bedford in the United Kingdom. How are you all doing? Did you have a good weekend? |
| 0:28.0 | Bitcoin. It's back over 55K. It looks like we are winding up for another leg up. Are you ready? |
| 0:37.0 | Also, it seems like a lot of you enjoyed the show I made last week with American Hoddle and Phil Geiger. I'm looking forward to making more shows with |
| 0:45.2 | Hodle with our Bitcoin Rehab. Anyway, listen, welcome to the What Bitcoin did podcast which is brought to you by The Mighty Krakhan. The best place to buy |
| 0:54.0 | sell and trade Bitcoin. I'm your host Peter McCormack and today I've got Willie Wu |
| 0:58.2 | back on the show I know you're all going to be excited about this and we're going to be |
| 1:02.4 | discussing how to spot the end of a ball market and how the hell you trade that. |
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... |
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