Bailey

Perspective is to be analyzed and then make your own decision about the perspective, whether you believe it's true or not, and encouraged to go and listen to other perspectives and then make up your own mind.

It's one perspective that I'm entitled to make.

So I will make it my own way based on what I see.

We're going to jump right in.

We're going to have some fun.

Please don't, please don't be upset.

Trust me.

coinmarketcap.com and as usual you will zoom out to the month charts and we're going to start with bitcoin the reason i'm starting with bitcoin is that it is the dominant topic for today there are people out there who swear up and down that everything that we're seeing is perfectly normal and natural and part of the cycle it very well may be the case that it's normal and natural and part of the cycle but there is some chatter that what we're seeing is not over

On last week's episode, I speculated that Bitcoin could go a little bit lower before going back up again.

When it started to jump and it got a little bit of a climb over the past week or so, people speculated that we were past the worst of it.

It got as low as like 60 something, 61,000 bucks or something.

It dipped ever brief and then it rebounded back up and then it got to like 71,000 or something.

And people said, okay, the worst is behind us.

We're going to go back up and it's just going to take some time.

That seemed to be the case, but if you look at the month chart, you see a downward trend.

Certainly you see the same thing I'm seeing to be the truth, which is a downward trend.

No different than what I said last week, which was a downward trend.

A lot of the recovery that we saw did not sustain largely because of some of the other factors I'm going to be discussing here momentarily, but more importantly,

There is a lot of panic right now.

A lot of it is panic selling.