UNCHAINED: Crypto Prices Are Way Down. Is It Time to Buy the Dip?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 7 August 2024
⏱️ 58 minutes
🧾️ Download transcript
Summary
Jeff Dorman from Arca breaks down the recent crypto crash, its causes, and whether buying the dip is a smart move.
The recent crypto crash has left many investors questioning the way the market is going. In this episode, Jeff Dorman, chief investment officer at Arca, provides a deep dive into the factors behind the crash, the macroeconomic influences at play, and why he remains optimistic despite the downturn. Expressing surprise at Ethereum's underperformance this year, he describes how the Democrats’ handling of crypto is an own goal, and how TradFi and DeFi differ from each other during market upheavals.
Show highlights:
- The two main reasons the markets crashed this past weekend
- How the macro environment has affected crypto lately and why the market has gotten “way ahead of itself”
- Why ETH was down so much, more than other cryptocurrencies
- The “most important” shift in crypto policy that has occurred this year
- The Japanese yen carry trade that was one of the key factors in the market meltdown
- Whether Genesis distributing $4 billion in assets had an impact on the market
- Why Jeff believes that the data we have today does not point to a recession in the U.S.
- Why Jeff says he’s “buying the dip”
- Crypto as a political issue and why he thinks Harris winning would not be as bad for crypto as many believe
- Why bitcoin doesn’t always act as a hedge against equity-related or geopolitical risk, in Jeff’s opinion
- What Jeff thinks about the proposals for the U.S. government to buy bitcoin for a strategic reserve
- The stark contrast between TradFi giants halting trading and the permissionless nature of DeFi
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
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Guest:
- Jeff Dorman, Chief Investment Officer at Arca.
- Previous appearances on Unchained:
- How Elon Musk Pushed DOGE Up and BTC Down, With Arca's Jeff Dorman
- 3 Things SushiSwap Needs to Get in Order, According to Arca
Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk.
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Transcript
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| 0:00.0 | Thanks for listening to Unchained, your no-hype resource for all things crypto, on the CoinDesk Podcast Network. |
| 0:06.5 | You can also listen to the episodes on the Unchained feed earlier if you subscribe there. |
| 0:11.7 | Plus, check out all our content on our website, Unchained Crypto.com. |
| 0:16.8 | If there's more data that comes out that suggests the economy is really slowing, then, yeah, |
| 0:21.7 | the Fed will have to act quicker and there will be reason to believe that we could be heading towards a recession. |
| 0:26.7 | But, again, based on what we see right now, I just don't see any evidence of it. |
| 0:31.7 | And I think that this is one of the best buying opportunities that you will see all year as a result. |
| 0:41.8 | Hi, everyone. Welcome to Unchained. You're a no-hype resource for all things Crypto. |
| 0:45.8 | I'm your host, Laura Shin, author of The Cryptopians. I started coming crypto nine years ago, |
| 0:50.7 | and as the senior editor of Forbes, was the first NatureaMeter partner to take over cryptocurrency full-time. This is the August 6th, 2024 episode of Unchained. |
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| 1:06.2 | While J. Sreeny Boston, Richard Tang, Arthur Hayes, and 300 others will hit the stage, joining 20,000 |
| 1:12.4 | attendees. Visit token249.com for 15% off with the code unchained. Link in the description. |
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| 1:35.0 | to build, grow, and scale. Join the community at Pocodot.network slash ecosystem slash community. |
| 1:42.7 | Today's topic is the recent crypto market crash and also the broader sell-off. |
| 1:47.6 | Here to discuss is Jeff Dorman, chief investment officer at ARCA. |
| 1:51.0 | Welcome, Jeff. |
| 1:52.3 | Hi. |
| 1:53.1 | Thanks, Laura, for having me. |
... |
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