Bailey

let's spin back to bitcoin and talk a little bit more about this now people are talking about the levels right the level to target is 71 000 bucks ish people are saying we're hit that that's why they were saying we're headed that way once it hits there we're going to bounce and go back up

unfortunately it seemed like a lot of rejections more than usual where people are seeing that it's not a normal sideways you know natural trend it seems like it's still a breakdown and that it's still fragile and that it's headed towards the sixty thousand dollar mark people still say that now they're still thinking that the worst is not over and we got a lot more happening with the bitcoin etfs and outflows in particular that they're watching they're speculating

that the price is targeted to go down even further some have said and i don't know the veracity look it up of these theories but some have said that this may also be trying to flush out some of those bigger holders that it's strategic that they're purposely trying to get some of those bigger holders out of their positions to kind of flush them out to right size the price of bitcoin again i can't say how true or legitimate or even logical that is

yeah in in a conspiracy world i can kind of see it but there have to be a lot going on for that really to be the case is it possible it's the case absolutely i just can't say for sure that it is or isn't meanwhile people smart people are buying dips they're dca dollar cost average into bitcoin buying more as the price goes down

to increase their bag size that's only effective if you didn't buy at the hundred thousand or higher let's say you bought in at you know 40 000 bucks back in 2020 or something you have an opportunity to kind of dca and not have any sort of unrealized loss and still be in the positive

while it's on the way down they just got to be careful about it and then some people that are on the exchanges obviously they're gambling rolling the dice and who knows with those folks but people expect that the 71 000 ish mark is kind of the target to reach and sustain and if it cannot sustain it that it's headed back down with a target of about 60 000 bucks now in my mind this is a theory

In my mind, I say downward is almost a given for the short term.

I still say there's going to be a little bit of upward.

So there's a downtrend.

I'm saying that you're still going to have this fight going back up.

I think it goes over 71.

It just doesn't last.

It's going to come right back down again.

That's my theory.

And I encourage you to hold me accountable because I go audio.

It's not a hard thing.

It's just this is my gut speaking about what I see.

the other thing affecting bitcoin recently people noticed that a bunch of the whales in bitcoin there was a some whale put like an 80 million dollar long on bitcoin and people speculated that it's ultimately a bullish sentiment right that person believes there's something there it actually could have the inverse effect it actually could cause more downward to flush that person out and cause them to be liquidated i don't know i'm saying that

when we see things like that it doesn't necessarily guarantee that there's something positive there's the insider from the trump administration that had dumped before bitcoin started crashing but recently people noticed other whales were putting a lot of money into cold storage

Meanwhile, they're stacking and what is putting it into cold storage ultimately mean?