Is the Bull Market Back?

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 8 February 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

At the end of last week, bitcoin reversed a couple months of downward momentum and reclaimed $40,000. Now, as momentum builds, the community is wondering whether this is a temporary reprieve or a fundamental turn back to the bullish. NLW shares a variety of opinions from across the crypto world. - Nexo is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 18% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at nexo.io. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer, and more secure solution to store, send, receive, buy, and swap your crypto. Buy now at getarculus.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - MELD is building the first-ever decentralized, non-custodial crypto to fiat lending and borrowing solution that will allow its users to lend and borrow both crypto and fiat currencies seamlessly. Users can stake MELD directly on the MELDapp, which will allow for governance voting for new protocol improvements, insuring the protocol, and earning up to 15% APY in MELD rewards. Start using MELD today at app.meld.com. - Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW _ “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill 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 “Vision” by OBOY. Image credit: strelss/iStock/Getty Images Plus, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	I think that because this is an election year in the U.S., things like the CPI report and the jobs report can't be viewed in political isolation.
0:08.9	These are political events that have significance beyond just their immediate market impact.
0:14.2	What's more, there are, of course, many other geopolitical events, such as the troop buildup on the border of Ukraine and Russia that could have dramatic
0:20.9	impacts on global politics and global markets.
0:24.9	Welcome back to The Breakdown with me, NLW.
0:29.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:35.0	The breakdown is sponsored by nexus.io, Arculus, FtX, and produced and distributed by CoinDesk.
0:42.8	What's going on, guys? It is Monday, February 7th, and today we are discussing whether the bull market is back.
0:51.2	First, however, if you are enjoying the breakdown, please go subscribe to it, give it a rating,
0:55.6	give it a review, or if you want to dig deeper into the conversation, join the breakers Discord.
1:00.6	You can find the link in the show notes, or you can go to bit.ly slash breakdown pod.
1:05.6	A disclosure as always, in addition to them being a sponsor of the show, I also work with
1:10.6	FTX. And one more thing before
1:13.7	we get into today's show. This week, I am thrilled to have a special sponsor in Meld.
1:19.9	Now, if you've ever wondered how the rich are able to spend their money and still say rich,
1:24.7	it's because they borrow against their assets. Meld is creating a
1:29.1	protocol that can be used by anyone and which offers this exact service, but in a decentralized
1:34.3	way. Users of Meld's protocol will be able to borrow dollars, euros, and other fiat currencies
1:39.5	against their cryptocurrencies. If you want to learn more about the first defy non-custodial banking protocol
1:45.3	today, go check out meld.com. That is m-eld.com. All right, and with that, it has been a good
1:53.0	weekend. I'm sure you've been checking your portfolio apps, no doubt in my mind. As I'm recording
1:58.9	this, Bitcoin is up around 43,500. Eath is comfortably over
	...

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