Bailey

there was some sort of a major dump off, right?

And then there's, with Bitcoin, there's usually a recovery backup unless there's some sort of a macro event that would exacerbate its drop.

We saw this prior to when we knew that the FTX with Pooh Fair fiasco and the sex house out there, before we knew that was going on, similar such behaviors had taken place.

So what I'm saying in my own measure of it,

is there's a strong risk that things go down beneath the sixty thousand dollar mark and that's what everybody's chatting about everything going on with greenland plays a little bit into it but most are speculating that what we're seeing is simply short-term panic some might speculate that it's simply trying to flush out so-called weak-handed people

Some might speculate that because institutionals are continuing to buy regardless of these drops, that nothing's fundamentally wrong other than just certain pieces.

Now the other factor playing in for sure.

And I think it's psychological.

of the wallets bitcoin wallets from the silk road era so we're talking in terms of time not albert i'm talking from that time one of those wallets was sitting on close to 3500 bitcoin recently started shifting some of its bitcoin out over to segwit which is one of the other communication protocols for bitcoin

the movement of a significant amount of bitcoin usually precedes what is expected to be a dump now with that much bitcoin on deck it wouldn't take very much being sold and if the person's smart they would not liquidate all of that bitcoin because they wouldn't get the maximum price because if they significantly sell their bitcoin the price is going to be going down and they'll be losing if they're a smart person which i suspect that they are

If they came from the Silk Road era, they're going to sell in chunks, smaller chunks, let's say 10 to 20 Bitcoin at a time, right?

And then just kind of sit on it 10 to 20 more and sit on 10 to 20 more.

If they're smart, if they're a dumbass, they will sell like 100, 200, 300 just because they can.

not paying attention to the decline of price that's going to happen over time.

So the other theory floating out is that some of this price depreciation is a strategy to discourage this whale from dumping major amounts of their Bitcoin and further crashing the market.

I know that sounds contradictory.

That's why I said, I'm not really sold on what's being said out in the, in the public.

I'm just sharing why they're talking about this death cross and this potential that it goes beneath 60,000.

and the likelihood of what the cause is that being institutionals influencing the price, not necessarily that anything's fundamentally wrong with Bitcoin.

My measure to you guys, if you look at what happened with FTX and the price going down to 12,000 bucks, and you think about what might've happened if you'd bought in when it dropped that low compare, and then wait for it to go back up knowing it was going to,