The Bitcoin Shakeout - Jan '21 Trading Update with Willy Woo - WBD305
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 31 January 2021
⏱️ 57 minutes
🧾️ Download transcript
Summary
Location: Remotely Date: Tuesday 26th January Company: Hypersheet Role: Co-Founder
Bitcoin has had a great year so far, after hitting a new all-time high of ~$42,000 it has been in a consolidation range bouncing between $30,000 and $40,000.
Since that top, we have seen a massive uptick in FUD, including a misreported double spend. This 'double spend' scared some investors and NexTech, a software company that had recently bought 130 Bitcoin, sold off the $4 million of Bitcoin they had acquired as a result.
With Bitcoin cooling off for the first time in this bull market, what is the on-chain data telling us, and how can you know when a bull market is coming to an end?
In this interview, I talk to on-chain analyst and the co-founder of Hypersheet; Willy Woo. We discuss the run-up to $42,000, what the on-chain data indicates, price targets for Bitcoin and how to call the top.
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Transcript
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| 0:00.0 | It would take the Black Swan to push the price below, essentially what we bottomed out |
| 0:07.7 | it in the $29,000 range on a daily close. It would really take something extreme. |
| 0:15.0 | Hello there from Bedford, the Bitcoin Mecca of the world. How the hell are you all? |
| 0:20.0 | Are you all having a great weekend? |
| 0:22.0 | I've got one final show to get out this month and what a month. We have smashed through a half a million downloads. So thank you everyone. First time I've done this for a month absolutely amazing love you all |
| 0:33.1 | anyway my name is Peter McCormack welcome to the what Bitcoin to podcast which is |
| 0:37.2 | brought you by Cracken the best place to buy sell and trade Bitcoin and today I've got |
| 0:41.8 | my monthly update with Willy Wu another trading show |
| 0:45.1 | and looking at on-chain data but before that I do have a message from my show |
| 0:49.0 | sponsors. Okay so first up today we're going to talk about Exodus Wallet and the timing is perfect. |
| 0:55.7 | So I'm increasingly running my business using Bitcoin. |
| 0:59.4 | I've decided to put a lot of the company profits into Bitcoin, I'm also getting paid in |
| 1:03.8 | Bitcoin, I'm also paying people in Bitcoin, and I needed a wallet, specifically a |
| 1:08.8 | desktop wallet, so at the end of the month when I'm running my accounts I can |
| 1:12.2 | pay people get paid and |
| 1:13.2 | sorted all out and when Exodus reached out to me I took a look at what they were doing I took a |
| 1:18.5 | look at the product and I was like yeah that's the one for me they smashed the |
| 1:21.6 | uX has got everything I need. |
| 1:24.4 | Now if you want to check out Exodus, it's very easy. |
| 1:26.9 | Just head over to Exodus.io, Google Exodus, or just search for Exodus in Apple or |
| 1:31.6 | Google App Stores. |
| 1:33.0 | Also, let's talk about Kazaa. |
... |
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