are a true celebrity now no i wouldn't i wouldn't say that i think i i've been recognized through you that's what happened so so let's be clear all right so so when i talk NUMBER_TOKEN NUMBER_TOKEN on bitcoin um you have to understand that i always said it had to come with a deleveraging event right so deleveraging where there's so much margin in the system so much money being borrowed to buy bitcoin to buy stocks and it's always been key to understand that it has to coincide with the stock market decline if you'll notice what we've seen lately right we've seen bitcoin collapsing here here's the chart of bitcoin coming down significantly from those highs and what's going on in the stock market you're starting to see panic and deleveraging so this is the type of environment that you could see a move down to NUMBER_TOKEN NUMBER_TOKEN but please understand that you have to see the full d leveraging in the stock market occur right now what has occurred in the stock market is not the fully leveraging it's like a two percent amount of it so again that's very important it's got to coincide with it i still personally believe it will happen david you know when we were in dubai i talked about how the market in bitcoin looked like a double top to me everyone was screaming it was going to go to a hundred thousand i said i don't trust it it's still technically on a four year cycle and here we are from NUMBER_TOKEN NUMBER_TOKEN down to about NUMBER_TOKEN to NUMBER_TOKEN NUMBER_TOKEN. something i've learned from speaking to uh people in the crypto space is that bitcoin typically is driven by sentiment more than technological innovations and so we've seen the tap upgrade come out a few years starting a few a few weeks ago and that did nothing to boost the price we've seen um continuous developments in the dNUMBER_TOKEN space layer two protocols being added doing nothing to breach new all-time highs so what's the sentiment right now on bitcoin because that that seems to be the core driver of of bitcoin not cryptos at large but just bitcoin is sentiment yeah so you're you're NUMBER_TOKEN right and i still remember being in dubai the etf was just launching there was so much hype if you went on social media all you heard about was the crazy you know moves in bitcoin how it was going to go so so high so quickly and to be honest that was one of the things that i kind of coined off of to be a little bit more on the cautious side and one of the things i point out if you look at the bitcoin chart here here was your april high right and if you draw a trend line over notice how you pierce it on two separate occasions here and here and each time it got sold into if there's that much bullish sentiment in the average investor why didn't it surge higher and the answer is it didn't search higher because there were bigger players unloading there and you have to pay attention to this stuff so yes it made a higher high here and here but also you have to recognize that it failed it failed any sort of breakout and again you've come down significantly so you're right you know fear and greed rule the markets in the short term uh people have always said you know why don't you look at on-chain analysis you know that's so important for bitcoin and crypto and the answer is in
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