00:00 Speaker A
Ines, I want to ride with you on the crypto rollercoaster we’ve seen this year. To be clear, it’s not uncommon for Bitcoin to go through a rollercoaster ride. Perhaps unexpectedly, when it has such institutional and policy support, it still sees a roller coaster ride, Ines.
00:30 Ines
100%. I mean, the Bitcoin community got everything it wanted this year, whether it was regulation, a friendly SEC, or governments actually advancing cryptocurrencies and Bitcoin. However, you can see the price falling from the 126,000 level in October. Some people also question, is the four-year cycle really over? I mean, you have some very prominent voices talking about the end of your cycle, but now we’re in a crypto winter, so to speak. What’s sobering are some of the price targets given by Wall Street, as everyone is very optimistic heading into the end of the year. Now you’re looking at some thought-provoking calls for next year. I mean, Fundstrat’s Sean Farrell is basically saying that you may see a retracement in Bitcoin in the first half of the year and calling for a price of 60 to 65,000 in the first half of the year, and then you will see a rebound in Bitcoin at the end of next year with Bitcoin reaching 115,000. Now, he said that for various reasons, but nonetheless, I mean, he got a fair amount of backlash online because he’s always been such a big deal. But we are seeing a changing narrative. I don’t think it helps that you’re seeing OGs whales selling off heavily in the dips we’re seeing in Bitcoin. This has brought considerable negativity to the entire crypto industry.
