Mati Greenspan on the Technical and Macro Roots of Bitcoin’s Price Surge

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 14 January 2020

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bitcoin is up more than 8% in the last 24 hours. BSV, meanwhile, is up nearly a whopping 100%. The question is, of course, why? Is it some larger macro context? A pump-and-dump? Or just the crypto markets being as crazy as they are. The Breakdown invited guest Mati Greenspan, former e-Toro analyst and now founder of Quantum Economics to give his take. We also look at two stories around the growing crypto derivative markets: the launch of the CME’s options on bitcoin futures and CFTC Chair Heath Tarbert’s comments yesterday that regulated derivatives will bring legitimacy to the space. Finally, we look at a just-released Investor Alert from the SEC on IEOs.

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.
0:20.0	Welcome back to the Breakdown.
0:21.6	What's going on, guys?
0:22.6	It is Tuesday, January 14th.
0:25.6	And today, of course, we are going to be talking about the price of Bitcoin.
0:30.6	It is hovering at 8730 at the time of this recording up 7.66% in the last 24 hours. And of course, this is the
0:39.9	latest in a surge that's been going on for the past couple weeks. And my general feeling about
0:45.4	short-term price action is that if you zoom out and you think about this new asset and this new
0:50.8	asset class holistically, short-term price action is one of the least interesting
0:54.5	things about it. However, it is undeniable that these moments where the price spikes, where the market
1:00.3	start to rally and race, they are engaging and exciting and they drive attention and they keep people
1:06.9	connected to the markets and they keep people excited. They're valuable and they're important.
1:10.8	I even joked online earlier that when the market goes crazy like this, the only thing to do is
1:15.8	rampant speculation. So we're going to give rampant speculation. It's due here on the breakdown podcast
1:20.2	and ask why the number is going up right now. To do that better, we've actually invited.
1:25.3	I've invited Maddie Greenspan, who is previously
1:28.4	the head of analyst at E Toro and is now running a new company called Quantum Economics. That's
1:35.8	all about crypto and crypto trading to give his take on why the market is doing what it's doing
1:41.7	right now. So that'll be first. Second, we're going to look at
1:44.9	maybe some of the underlying fundamental shifts happening around the financialization of Bitcoin,
1:50.3	that whatever happens with this price action, they are factors that are going to be driving the way
	...

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