Jordi Visser

Bitcoin has a market cap where history will tell you when you get to this level, you're real.

Like you don't have to doubt it anymore.

Could we go to 80,000?

I guess we could if the stock market falls off.

But I don't think the S&P is going to fall off.

I think we're at the end of a liquidation of growth stocks and that next year growth will not be a good factor.

The narrative is bad right now because the price is bad.

If the price is back up, the narrative will be very good.

All right, so this will be my chance to kind of spend at least the beginning part of this talking about things that I've known and learned over the years about trading and about markets.

And I think for people, I know there's a lot of people who,

who trade and they don't think about the macro environment.

So normally, like you said, when Liberation Day is happening, it's easy for people to kind of think about, well, this is happening because of this.

I don't believe this is rational.

Let me go.

That's not what's happening right now.

So you mentioned a lot of things that are falling.

Here's what's not falling.

The S&P 500 as of yesterday's close was down 1.5% for the month and it was still up 14% for the year.

Goldman Sachs and JP Morgan made new all-time highs in the last six days.

That's not a bear market.