The Big Short Squeeze with Willy Woo - WBD379

Mr Obnoxious

Peter McCormack

Technology, News, Politics, Money, Investing, Finance, Bitcoin

4.8 • 2.7K Ratings

🗓️ 30 July 2021

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Location: Remotely
Date: Thursday 29th July
Project: Hypersheet
Role: Co-Founder

Since mid-May, Bitcoin has ranged between $30k-$40k, following a build-up of negative news, from bans in China to concerns about energy use. While on-chain analysis showed strong signs of accumulation during this time and pointed to the bull run not being over, the price kept grinding lower.

By July 20th, the price again dropped below $30k and held below this crucial level for the longest period since the dip began. With sentiment heavily bearish and many calling for a further dip to ~$20k, what started as a small rally turned into a $10,000+ move after shorters were forced to close their positions. The price on one futures exchange hit as high as $48k on the back of the liquidations.

Bitcoin has been sat at $40k, another crucial level, for several days now, and with on-chain metrics showing a massive influx of new entrants and FUD wearing thin, market sentiment seems to be flipping positive.

So has the bull run recommenced? And is this cycle different?

In this interview, I talk to on-chain analyst and the co-founder of Hypersheet, Willy Woo. We discuss accumulation by small holders, the recent bullish move and why this might be the last cycle.

Transcript

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0:00.0	We've had massive amounts of little guys buying. They bought the COVID dip. They bought this two-month bottom. They're like little geniuses. The hodlers are out doing the so-called
0:16.7	whale traders, conspiracy. The little guys are really nailing it.
0:21.0	Hello there from Bedford in the United Kingdom.
0:24.0	How are you all doing?
0:26.0	I'm pretty excited myself this morning.
0:28.0	I'm about to go and catch a flight to Ireland to go and see my dad due to COVID.
0:32.0	I haven't been able to see him in nearly two years which is
0:34.7	it just feels insane but now we're back flying and heading over there to go and
0:39.0	catch up with a big guy and have a beer with him see how he is it's been a long
0:42.3	time coming and I know many of you have been
0:44.4	stuck in your own countries unable to fly, unable to see families too so hopefully you
0:48.9	will all be able to get out there and see your families. I can't wait to see them.
0:52.1	Anyway, welcome to the What
0:53.7	Bitcoin did podcast, which is brought to you by Gemini, the only place I'm using for buying
0:57.9	Bitcoin. I'm your host, Peter McCormack, and I've got my update with Willie Wu right now. But before that I do have a message from my show sponsors and today we kick off with Ledger the world's most popular hardware wallet. Now for hardware wallet allows you to take custody of your Bitcoin and if you've not been
1:14.0	doing that it's something you really should be considering and with Ledger I have
1:18.0	been a customer of theirs since early 2017 and the nanowess I bought back, I'm still using that bad boy now.
1:25.0	Ledger makes it easy for you to safely manage your Bitcoin using their Ledger-Life software,
1:30.0	which interfaces with your NANOS.
1:32.0	And also, if you're an Android user you can connect that to your
1:35.2	nanos and manage your Bitcoin on the go.
1:38.1	If you want to find out more please head over to ledger.com which is LED.E G-E-R-D-E-R-D-G-E-R-G-O-G-G-E-R-G-O-K-O-K-O-K-O-K-O-K-O-K-O-K-O-K-O-K-O-K-O-K-O-K-O-G-O-G-O.
	...

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