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London Real

‣ Why Bitcoin going up too fast is not sustainable - Ben Cowen

London Real

Brian Rose

Investing, Business, Technology

4.41.9K Ratings

🗓️ 13 December 2021

⏱️ 3 minutes

🧾️ Download transcript

Summary

Transcript

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0:00.0

Can you explain that concept to maybe people that are new to this market who want to buy the

0:03.3

Lambo for Christmas and explain to him that actually if we take our time and breathe and allow

0:09.7

things to move sideways a little bit, we actually might see a higher price mid to late next year

0:15.3

as opposed to if we try to get there by new years. Can you just because it's a really important

0:19.5

concept that's lost on most of the market? Well yeah, I mean a lot of people want to establish

0:23.8

a position. So like institutions right now I'm assuming a lot of I'm assuming there's plenty of

0:28.1

institutions that have been establishing positions and we know we know micro strategy has been

0:33.2

doing it for a long time and they they have no problem buying Bitcoin it seems at any price

0:38.0

because they look at it on the macro scale. But the whole idea is that you can look at

0:42.0

on-chain metrics to look at this as well sort of like long-term holders and whatnot. People who buy

0:48.0

if it goes up too quickly if we experience a return that is so attractive in the short term we cannot

0:54.0

pass it up then a lot of people take profits right like they want to realize those profits because

0:59.3

we recognize that if it goes up too quickly it's not sustainable right it's just simply a not a

1:04.6

sustainable move. It was not sustainable for us to go from 3,800 to 64K without having a very

1:10.4

massive pullback that turned out to be 55%. You know so if we go up slowly like if we could

1:18.1

slowly go back to 60 and then 70K and then we we work our way to 80K then a lot of these long-term

1:23.6

holders we look at it and say all right like this seems like a sustainable move like you know it's

1:27.7

an organic move people are accumulating but what's not sustainable is when it goes up like like

1:34.1

2X in a month or something right like if if we're to wake up in January and Bitcoin straight

1:39.8

through 150K you know like I'm probably running for the hills with my profits right at that point

1:44.9

because I don't I wouldn't believe that it's sustainable in the short term and then we're probably

1:48.5

going to come back down and then I would be looking to to buy it if it comes back down.

...

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