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welcome to money is freedom

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a podcast

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exploring how finance and freedom connect in our lives

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created from thoughtful research

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and narrated by Notebook LM AI

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this series brings you clear

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meaningful insights into finance and beyond

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welcome to episode 28 of the podcast

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today

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we're discussing Bitcoin's critical decision point

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bitcoin has been consolidating around $100,000

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which some see as a consolidation phase

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before a breakout

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the key is the upcoming labor market data release

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this data historically impacts Bitcoin's price

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will cover key levels and what to watch

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alright so bitcoin huh

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everyone's talking about it

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especially with this old will it or won't it break

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a hundred thousand dollar thing going on

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yeah feels like we're all kind of

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glued to the charts right now

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waiting for the next move

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well

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you've sent me a ton of interesting stuff to dig into

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articles some charts

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even a clip from that Benjamin Cowan guy

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the crypto Youtuber oh yeah

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he always has some interesting takes

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it's crazy how

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Bitcoin's just been hanging around that

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hundred thousand dollar Mark

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like what for three months now

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it does feel like it's holding its breath

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doesn't it

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one of these articles called it a consolidation phase

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which apparently

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is something Bitcoin does after a big price jump

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makes sense when you think about it

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some people probably cash out after a big win

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you know take profits

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which causes a little dip right

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like I'm out of here time to enjoy the games

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exactly and then

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I bet you've got those big institutional investors

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maybe they're making moves behind the scenes

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during these quiet times that's like a standoff

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everyone's watching each other

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waiting to see who makes the first move

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it kind of feels that way

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yeah now

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Benjamin Cowan in that clip you sent

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he thinks things might heat up next week

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oh really

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why is that he says that labor market data

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the unemployment rate specifically

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might be what pushes bitcoin over that hundred

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thousand dollar edge or keeps it stuck where it is

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huh I gotta admit

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the connection between jobs and Bitcoin

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isn't that obvious to me

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they seem like totally different things

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I know right

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on the surface it seems kind of random

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but Cowan's argument is that

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a lot of people see

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bitcoin as a way to protect themselves

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when the regular economy gets shaky

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so if the economy looks like if unemployment goes up

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people might

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see Bitcoin as a safer place to put their money

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yeah that's the basic idea

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a jump in unemployment

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usually means trouble for the economy

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and when people get nervous

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they look for somewhere safe to put their money

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and for some that's bitcoin makes sense

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so what about if the news is good

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like if unemployment goes down

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well that might mean

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the economy is doing better than expected

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which might make the Federal Reserve

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you know the Fed keep doing what they're doing

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but wait didn't you say

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some people think the feds

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actions could be bad for bitcoin

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yeah it's complicated

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it has to do with

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how the feds policies can affect things

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like inflation some people think their current policies

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if they keep going could lead to more inflation

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and when that happens

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bitcoin starts to look more appealing

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because it's seen as a hedge against inflation right

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bingo but if the economy strong

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the Fed might not change anything

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which to some might mean bitcoins less attractive

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so it's all about reading the signs

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and guessing what everyone's gonna think about bitcoin

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not just what's actually happening

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pretty much Cowan basically laid out three scenarios

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strong economy low unemployment

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bitcoin might just hang out or dip a little

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weak economy high unemployment

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that could be the boost it needs to break $100,000

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and what about if things stay basically the same

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like no big changes in the unemployment rate

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Cowan thinks that might just keep things stuck

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no big moves

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until there's a clearer sign of what's gonna happen

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he actually compared what's happening now

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to what happened back in 2016

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2017 oh yeah

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what's the connection there

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well he says

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Bitcoin's following a similar pattern to that period

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which if it keeps going that way

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could mean a huge price jump in the next few months

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wow that's a bold prediction

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he even showed this chart

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a running one year ROI chart

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basically it shows how Bitcoin's price usually doubles

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every year but right now it's lagging behind a bit

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so if it wants to keep up with that pattern

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it needs to start moving soon exactly

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of course no one can predict the market perfectly

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Cowan even says that right

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it's not like he has a crystal ball or something

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but he's saying if we look at history

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and we keep an eye on those key indicators

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like the labor market data next week

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we can

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start to get a sense of what might happen with bitcoin

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okay so

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we gotta understand what this consolidation phase

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really means

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it's obviously more than just bitcoin taking a break

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yeah what's the logic behind it

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and has this happened before

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yeah good point

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so there are a few reasons why

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something like bitcoin goes through these quiet periods

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one is we'll just think about it

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if you just made a ton of money on bitcoin

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wouldn't you wanna cash out some

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I mean yeah

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probably take some profits

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enjoy the whim exactly

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and when enough people do that

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the price naturally dips a little

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but it's not just that it's also about

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how much bitcoin is actually being traded

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during these times

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you mean like the volume of trading goes down right

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it's like the market takes a breather

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like a deep breath to get ready for the next big move

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and that can create this feeling of anticipation

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like something big is about to happen

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I get it's like the calm before the storm

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exactly and then

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don't forget about those big institutional players

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the ones with a lot of money to move around

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oh right

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they probably use these quiet times to make their moves

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too exactly

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they might be buying more bitcoin or selling some

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or just waiting for the right moment

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and because they're dealing with so much money

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their actions can really shift things in the market

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so it's not just individual investors

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driving these patterns

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it's as whole mix of different players

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each with their own goals

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absolutely and if you look back at Bitcoin's history

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you'll see these consolidation phases happen again

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and again

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remember those big price explosions in 2017 and 2021

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yeah those are wild

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well guess what

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bitcoin went through these exact same quiet periods

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right before each of them

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so this current pause

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this sideways movement it's not necessarily a bad sign

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right this happened before right

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a lot of experts actually

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think these consolidations are healthy for the market

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like hitting the reset button

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you know

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it lets things even out before the next big jump

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so is this calm before the storm about to end

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are there any clues we can look for

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well one article mention a 3

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6 month rule which isn't really a rule

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more like a pattern people have noticed

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these consolidation phases tend to last well

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three to six months hmm

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so we're about three months into this one

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which means we could

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be getting close to the end of the weight maybe

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but it's not a perfect science

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sometimes they're shorter

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sometimes longer it just depends right

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right so

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what could actually break this phase

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and get Bitcoin moving again

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the article talked about big economic changes

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and things like institutions buying more bitcoin

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yeah those are all things to watch

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like imagine if suddenly

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inflation was way higher than anyone expected

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or the Fed did something

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completely unexpected with their policies

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people would freak out right

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yeah and maybe turn to Bitcoin for safety

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that's the idea and then there are things like

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you know when governments pump money into the economy

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or when big institutions decide to invest a lot

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those big money moves exactly

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that can really energize a market

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and Bitcoin could ride that wave

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we've seen more and more of those big institutions

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getting into Bitcoin in the past few years

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true it feels like every other week

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another big company announces they're buying Bitcoin

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and that sends a signal to other investors right

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it's like saying hey

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this bitcoin thing is legit

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it's like getting a stamp of approval from the big

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financial players exactly

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and the more they buy

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the higher the demand for bitcoin goes

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and that can push the price up

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maybe even out of this consolidation phase

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so those

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big players are definitely a key piece of the puzzle

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but let's go back to that labor market data

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coming out next week

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Cowan seems to think it's a really big deal for bitcoin

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he does he sees it as a way to gauge

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the health of the US economy

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and you know

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the US economy still affects the whole world

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including crypto right

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we talked about how bitcoin is

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like a hedge against economic uncertainty

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exactly so if the data shows a weak economy

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people might pile into bitcoin for safety

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you mentioned a high unemployment rate

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could actually be good for bitcoin

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because it might push the Fed to do things that make

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the US dollar weaker and that's good for bitcoin

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yeah it's a little roundabout

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I know but basically

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if the economy struggling

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the Fed might try to help by

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you know lowering interest rates

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or putting more money into the system

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but those actions can sometimes

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have unintended consequences

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like weakening the dollar right

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and when the dollar looks shaky

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people might turn to things like bitcoin

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which aren't tied to any one country's economy

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so to sum it up

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the labor market data affects the feds choices

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which affect the dollar which affects Bitcoin

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you got it it's all connected

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but the question is historically

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has there been a clear link between jobs data

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and Bitcoin's price good question

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has there well

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it's not so straightforward

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it's not like every time unemployment goes up

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bitcoin automatically goes up too

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there have been times when a good economy

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with low unemployment actually helped bitcoin

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wait really

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how does that work think about it

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when the economy's strong

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people have more money to invest right

281
00:09:21,766 --> 00:09:24,000
and some of that money might go into Bitcoin

282
00:09:24,000 --> 00:09:25,300
so in that case

283
00:09:25,333 --> 00:09:28,200
what's good for the economy is also good for Bitcoin

284
00:09:28,200 --> 00:09:31,266
exactly it all comes down to how investors feel

285
00:09:31,266 --> 00:09:33,433
and what they think about the economic news

286
00:09:33,733 --> 00:09:34,800
but like we said before

287
00:09:34,800 --> 00:09:37,133
there are also times when bad economic news

288
00:09:37,133 --> 00:09:39,800
like high unemployment can be good for Bitcoin

289
00:09:39,800 --> 00:09:42,166
because it makes those Fed actions more likely

290
00:09:42,166 --> 00:09:43,500
the ones that can weaken the dollar

291
00:09:43,500 --> 00:09:46,766
exactly so it's about understanding the whole picture

292
00:09:46,933 --> 00:09:48,100
economic data

293
00:09:48,100 --> 00:09:51,666
what the Fed does and the overall mood of the market

294
00:09:51,666 --> 00:09:54,166
lots of moving pieces sounds complicated

295
00:09:54,166 --> 00:09:56,700
like trying to predict the weather weeks in advance

296
00:09:56,700 --> 00:09:58,033
there's too much going on

297
00:09:58,100 --> 00:09:59,166
great analogy

298
00:09:59,166 --> 00:10:01,700
it's not about knowing exactly what will happen

299
00:10:01,700 --> 00:10:04,200
but more about understanding the possibilities

300
00:10:04,200 --> 00:10:06,766
and that's why next week's data is so important

301
00:10:07,133 --> 00:10:08,966
it could give us a big clue about where

302
00:10:08,966 --> 00:10:12,433
Bitcoin is headed so if I'm falling all this correctly

303
00:10:12,466 --> 00:10:13,933
we need to be ready for anything

304
00:10:13,933 --> 00:10:15,766
bitcoin could go up it could go down

305
00:10:15,766 --> 00:10:17,766
or it could stay stuck basically

306
00:10:17,766 --> 00:10:19,600
yeah it's gonna be an exciting week

307
00:10:19,600 --> 00:10:20,600
that's for sure so

308
00:10:20,600 --> 00:10:22,300
should I be refreshing the Bitcoin price

309
00:10:22,300 --> 00:10:24,800
every 5 seconds what should I be doing right now

310
00:10:24,966 --> 00:10:27,600
well I wouldn't recommend staring at the charts nonstop

311
00:10:27,600 --> 00:10:29,733
that can drive you crazy just remember

312
00:10:29,733 --> 00:10:32,366
these consolidation phases are normal

313
00:10:32,366 --> 00:10:34,266
and they often happen before big moves

314
00:10:34,266 --> 00:10:35,766
just like we've been talking about

315
00:10:35,766 --> 00:10:37,466
so even if nothing happens for a while

316
00:10:37,466 --> 00:10:39,866
it's not necessarily a bad thing right right

317
00:10:40,166 --> 00:10:42,700
my advice stay informed

318
00:10:42,700 --> 00:10:45,700
be patient and maybe even enjoy the suspense

319
00:10:46,100 --> 00:10:48,066
bitcoin is known for being unpredictable

320
00:10:48,066 --> 00:10:50,100
so buckle up and enjoy the ride

321
00:10:50,100 --> 00:10:52,833
and here's something for everyone to think about

322
00:10:53,266 --> 00:10:53,666
Cowan

323
00:10:53,666 --> 00:10:56,600
talked a lot about what might lead up to a breakout

324
00:10:57,000 --> 00:10:59,300
but not so much about what might happen after

325
00:10:59,766 --> 00:11:02,966
could this be the start of a whole new Bitcoin boom

326
00:11:03,066 --> 00:11:05,400
and even if it breaks $100,000

327
00:11:05,466 --> 00:11:07,166
could it still crash down again

328
00:11:07,166 --> 00:11:09,133
those are the questions will be exploring next time

329
00:11:09,133 --> 00:11:11,366
that's a great point lots to unpack there

330
00:11:11,366 --> 00:11:11,900
and I'm looking

331
00:11:11,900 --> 00:11:14,033
forward to digging into those questions with you

332
00:11:14,333 --> 00:11:16,600
yeah those are some big questions for sure

333
00:11:16,666 --> 00:11:18,200
it's like we're at a fork in the road

334
00:11:18,200 --> 00:11:20,500
waiting to see which way bitcoin will go

335
00:11:21,100 --> 00:11:23,200
to really get a handle on what might happen

336
00:11:23,200 --> 00:11:24,566
after a breakout yeah

337
00:11:24,566 --> 00:11:26,266
I think we need to look at both sides

338
00:11:26,300 --> 00:11:28,566
you know the things that could keep pushing it higher

339
00:11:28,566 --> 00:11:30,166
and the things that could drag it down

340
00:11:30,166 --> 00:11:30,566
okay yeah

341
00:11:30,566 --> 00:11:31,366
let's break it down that way

342
00:11:31,366 --> 00:11:33,100
so let's start with the good stuff

343
00:11:33,366 --> 00:11:36,200
what are the arguments for bitcoin just like

344
00:11:36,200 --> 00:11:37,300
taking off from here

345
00:11:37,300 --> 00:11:39,200
what could keep that momentum going

346
00:11:39,200 --> 00:11:39,933
well for starters

347
00:11:39,933 --> 00:11:41,933
we can't ignore all those big institutions

348
00:11:41,933 --> 00:11:43,933
getting into bitcoin like we talked about earlier

349
00:11:43,933 --> 00:11:45,100
the more they invest

350
00:11:45,100 --> 00:11:47,533
the more it seems like a real legitimate thing

351
00:11:47,533 --> 00:11:49,200
which attracts even more investors

352
00:11:49,200 --> 00:11:50,633
it's like a snowball effect

353
00:11:50,766 --> 00:11:51,600
exactly

354
00:11:51,600 --> 00:11:54,066
and it's not just about those big players either

355
00:11:54,133 --> 00:11:56,400
Bitcoin's gaining a reputation as a solid

356
00:11:56,400 --> 00:11:57,466
way to store value

357
00:11:57,466 --> 00:11:59,933
like some people are even comparing it to gold

358
00:11:59,933 --> 00:12:00,966
digital gold right

359
00:12:00,966 --> 00:12:01,600
yeah you heard that

360
00:12:01,600 --> 00:12:02,966
yeah exactly

361
00:12:03,300 --> 00:12:05,533
you know when the economy is uncertain

362
00:12:05,533 --> 00:12:07,400
or things are unstable in the world

363
00:12:07,400 --> 00:12:09,766
investors want something safe to hold on to

364
00:12:09,766 --> 00:12:11,766
something that won't lose its value

365
00:12:12,200 --> 00:12:12,933
an bitcoin

366
00:12:12,933 --> 00:12:15,500
with its limited supply and decentralized setup

367
00:12:15,500 --> 00:12:17,500
is starting to look like a good alternative

368
00:12:17,500 --> 00:12:18,966
to traditional safe havens

369
00:12:18,966 --> 00:12:19,766
like gold

370
00:12:19,766 --> 00:12:22,633
so is like a shield against all the chaos in the world

371
00:12:22,700 --> 00:12:24,066
that's one way to think about it

372
00:12:24,066 --> 00:12:25,966
and as the world gets well

373
00:12:25,966 --> 00:12:27,066
more unpredictable

374
00:12:27,066 --> 00:12:29,366
we might see even more people turn to Bitcoin

375
00:12:29,366 --> 00:12:31,166
pushing the price up even higher

376
00:12:31,166 --> 00:12:34,766
but it's not just about fear driving Bitcoin's value

377
00:12:34,966 --> 00:12:36,366
there's a lot of cool stuff happening

378
00:12:36,366 --> 00:12:37,700
on the technology side too

379
00:12:37,700 --> 00:12:38,666
yeah for sure

380
00:12:38,666 --> 00:12:40,100
we can't forget about the tech

381
00:12:40,200 --> 00:12:42,700
what developments are you most excited about

382
00:12:42,700 --> 00:12:43,066
well

383
00:12:43,066 --> 00:12:45,433
one example is something called the Lightning Network

384
00:12:45,666 --> 00:12:46,400
it's basically

385
00:12:46,400 --> 00:12:49,200
being built on top of Bitcoin's blockchain

386
00:12:49,200 --> 00:12:51,800
and it makes transactions much faster

387
00:12:51,800 --> 00:12:54,066
cheaper and easier to handle

388
00:12:54,400 --> 00:12:56,100
this could be a game changer

389
00:12:56,200 --> 00:12:56,866
because it means

390
00:12:56,866 --> 00:13:00,000
Bitcoin could actually be used for everyday purchases

391
00:13:00,000 --> 00:13:01,900
not just as an investment

392
00:13:01,900 --> 00:13:04,366
so it's not just this abstract thing anymore

393
00:13:04,366 --> 00:13:05,700
it's becoming more practical

394
00:13:05,700 --> 00:13:07,733
exactly and that real world

395
00:13:07,733 --> 00:13:10,266
usefulness is what drives long term value

396
00:13:10,600 --> 00:13:11,200
but you know

397
00:13:11,200 --> 00:13:13,000
we've talked a lot about the potential upsides

398
00:13:13,000 --> 00:13:14,500
but we gotta be realistic

399
00:13:14,700 --> 00:13:16,033
what are some of the risks

400
00:13:16,100 --> 00:13:17,866
that could cause a correction

401
00:13:17,866 --> 00:13:20,333
even if Bitcoin does break through that hundred

402
00:13:20,333 --> 00:13:21,500
thousand dollar Mark yeah

403
00:13:21,500 --> 00:13:22,833
gotta stay grounded right

404
00:13:23,133 --> 00:13:24,333
what are you thinking well

405
00:13:24,333 --> 00:13:26,500
one thing that always looms over crypto

406
00:13:26,500 --> 00:13:29,766
is government regulation governments around the world

407
00:13:29,766 --> 00:13:32,166
are still figuring out what to do with Bitcoin

408
00:13:32,166 --> 00:13:33,966
and all these other cryptocurrencies

409
00:13:34,133 --> 00:13:35,100
and let's be honest

410
00:13:35,100 --> 00:13:37,233
they haven't always been the most supportive

411
00:13:37,500 --> 00:13:38,266
if some country

412
00:13:38,266 --> 00:13:40,466
suddenly decided to crack down on bitcoin

413
00:13:40,466 --> 00:13:42,166
or put strict rules in place

414
00:13:42,266 --> 00:13:43,566
that could scare investors

415
00:13:43,566 --> 00:13:44,900
and send the price plummeting

416
00:13:44,900 --> 00:13:47,400
yeah it's like a sword hanging over bitcoin's head

417
00:13:47,466 --> 00:13:50,866
exactly that regulatory risk is always there

418
00:13:50,966 --> 00:13:53,000
and then there's the issue of well

419
00:13:53,500 --> 00:13:55,000
market manipulation

420
00:13:55,166 --> 00:13:57,133
bitcoin is still a relatively new market

421
00:13:57,133 --> 00:13:59,833
and let's face it not everything is always above board

422
00:14:00,200 --> 00:14:03,266
those big players the ones with tons of bitcoin

423
00:14:03,266 --> 00:14:05,100
they could manipulate the price

424
00:14:05,133 --> 00:14:06,533
create artificial swings

425
00:14:06,533 --> 00:14:08,500
that mess things up for everyone else

426
00:14:08,500 --> 00:14:10,300
so it's a bit of a Wild West out there

427
00:14:10,300 --> 00:14:13,566
lots of opportunity but also lots of danger

428
00:14:13,566 --> 00:14:14,766
you could say that

429
00:14:15,000 --> 00:14:17,466
and then you can't forget about the competition

430
00:14:17,466 --> 00:14:19,866
there are new cryptocurrencies popping up all the time

431
00:14:19,866 --> 00:14:20,933
and some of them are doing some

432
00:14:20,933 --> 00:14:23,366
really innovative things that Bitcoin doesn't do

433
00:14:23,766 --> 00:14:25,300
that competition could eat away

434
00:14:25,300 --> 00:14:27,600
at Bitcoin's dominance and potentially hurt its price

435
00:14:27,600 --> 00:14:29,466
right gotta keep up with the times

436
00:14:29,466 --> 00:14:30,966
exactly and of course

437
00:14:30,966 --> 00:14:32,766
there are those big economic forces

438
00:14:32,766 --> 00:14:35,266
we talked about earlier a global recession

439
00:14:35,266 --> 00:14:36,700
sudden interest rate hikes

440
00:14:36,700 --> 00:14:38,200
a stronger US dollar

441
00:14:38,466 --> 00:14:40,700
all of these things could negatively impact Bitcoin

442
00:14:40,700 --> 00:14:41,600
because at the end of the day

443
00:14:41,600 --> 00:14:44,066
it's still considered a risky asset

444
00:14:44,266 --> 00:14:45,933
when people get scared about the economy

445
00:14:45,933 --> 00:14:48,333
they tend to move their money to safer places

446
00:14:48,333 --> 00:14:50,966
so even if Bitcoin has all this potential

447
00:14:51,200 --> 00:14:54,166
it's still vulnerable to those big economic shifts

448
00:14:54,266 --> 00:14:56,100
absolutely it's all interconnective

449
00:14:56,600 --> 00:14:58,266
now we've looked at both the positive

450
00:14:58,266 --> 00:15:00,500
and negative arguments but I'm curious

451
00:15:00,500 --> 00:15:01,900
what do you think about

452
00:15:01,933 --> 00:15:05,066
all the talk of this being the start of a whole

453
00:15:05,066 --> 00:15:06,166
new bitcoin boom

454
00:15:06,166 --> 00:15:08,666
is that hype or is it a real possibility

455
00:15:08,666 --> 00:15:10,666
yeah I've seen a lot of people saying that too

456
00:15:10,733 --> 00:15:11,800
what's your take well

457
00:15:11,800 --> 00:15:13,566
I think it's definitely possible

458
00:15:13,566 --> 00:15:15,300
bitcoin a surprised us before right

459
00:15:15,300 --> 00:15:17,666
it's gone up when people thought it would crash

460
00:15:17,666 --> 00:15:19,500
and it's crashed when people thought it would go up

461
00:15:19,700 --> 00:15:21,533
if more institutions keep investing

462
00:15:21,533 --> 00:15:23,300
if the world stays uncertain

463
00:15:23,566 --> 00:15:26,766
and if bitcoin's reputation as a store of value

464
00:15:26,766 --> 00:15:29,066
keeps growing then yeah

465
00:15:29,066 --> 00:15:31,900
another big price surge is totally possible

466
00:15:31,900 --> 00:15:33,766
so it's like a rocket ship that's fueled up

467
00:15:33,766 --> 00:15:36,066
and ready to go we just don't know if it'll reach orbit

468
00:15:36,066 --> 00:15:37,533
or come crashing back down

469
00:15:37,533 --> 00:15:38,333
great analogy

470
00:15:38,333 --> 00:15:40,800
trying to predict market cycles is super tough

471
00:15:40,800 --> 00:15:41,966
there are so many variables

472
00:15:41,966 --> 00:15:44,366
even experts get it wrong all the time

473
00:15:44,466 --> 00:15:46,900
but that's part of what makes the space so exciting

474
00:15:46,900 --> 00:15:48,500
right it's unpredictable

475
00:15:48,500 --> 00:15:51,066
and there's always the potential for big wins

476
00:15:51,066 --> 00:15:52,400
and big losses okay

477
00:15:52,400 --> 00:15:55,166
so let's say bitcoin does break $100,000

478
00:15:55,166 --> 00:15:58,300
and starts climbing what could trigger a correction

479
00:15:58,300 --> 00:15:59,900
even in a positive market

480
00:15:59,900 --> 00:16:02,166
even in a bull market corrections are normal

481
00:16:02,166 --> 00:16:04,466
it's like taking a break on a long road trip

482
00:16:04,466 --> 00:16:06,100
the market needs to cool off sometimes

483
00:16:06,100 --> 00:16:07,600
before it can keep going

484
00:16:07,766 --> 00:16:09,166
and a few things could cause that

485
00:16:09,166 --> 00:16:11,300
even if bitcoins generally going up

486
00:16:11,666 --> 00:16:14,466
one is profit taking as prices rise

487
00:16:14,500 --> 00:16:16,066
some people who bought Bitcoin earlier

488
00:16:16,066 --> 00:16:18,533
might decide to cash out lock in their profits

489
00:16:18,533 --> 00:16:20,266
classic bilo sell high

490
00:16:20,266 --> 00:16:21,200
exactly

491
00:16:21,200 --> 00:16:24,900
and that selling can push the price down temporarily

492
00:16:25,166 --> 00:16:26,400
then there's the danger of

493
00:16:26,400 --> 00:16:27,966
you know too much hype

494
00:16:27,966 --> 00:16:29,966
when Bitcoin's price is soaring

495
00:16:29,966 --> 00:16:31,400
the media loves to talk about it

496
00:16:31,400 --> 00:16:33,700
and that can create a fear of missing out

497
00:16:33,866 --> 00:16:35,933
people start making impulsive decisions

498
00:16:35,933 --> 00:16:37,700
buying bitcoin at inflated prices

499
00:16:37,700 --> 00:16:39,500
just because they don't wanna miss the boat

500
00:16:39,700 --> 00:16:41,866
and that can create a bubble which well

501
00:16:41,866 --> 00:16:43,000
we know what happens to bubbles

502
00:16:43,000 --> 00:16:44,200
they pop exactly

503
00:16:44,200 --> 00:16:45,100
and that can be painful

504
00:16:45,100 --> 00:16:46,500
for anyone who bought in at the top

505
00:16:46,500 --> 00:16:47,900
so it's important to stay calm

506
00:16:47,900 --> 00:16:49,400
and not get swept up in the frenzy

507
00:16:49,400 --> 00:16:51,500
even when things look really exciting

508
00:16:51,666 --> 00:16:53,700
and then there are always those unexpected events

509
00:16:53,700 --> 00:16:55,700
that could happen a big hack

510
00:16:55,700 --> 00:16:56,800
a security breach

511
00:16:56,800 --> 00:16:59,200
a sudden change in government regulations

512
00:16:59,266 --> 00:17:01,600
those things can shake investor confidence

513
00:17:01,600 --> 00:17:03,866
no matter how strong bitcoin might seem

514
00:17:03,866 --> 00:17:05,666
so even when things seem good

515
00:17:05,666 --> 00:17:07,300
there are still things to watch out for

516
00:17:07,300 --> 00:17:08,333
for sure cryptos

517
00:17:08,333 --> 00:17:09,700
still relatively new

518
00:17:09,700 --> 00:17:11,700
and vulnerable to those kinds of shocks

519
00:17:11,866 --> 00:17:13,600
it's important to stay informed

520
00:17:13,700 --> 00:17:15,033
be aware of the risks

521
00:17:15,133 --> 00:17:17,266
and have a plan for dealing with them

522
00:17:17,266 --> 00:17:19,000
it's like sailing in uncharted waters

523
00:17:19,000 --> 00:17:20,400
you gotta be ready for anything

524
00:17:20,400 --> 00:17:22,933
exactly that's why it's so important to understand

525
00:17:22,933 --> 00:17:23,900
historical patterns

526
00:17:23,900 --> 00:17:25,866
and pay attention to those key indicators

527
00:17:25,866 --> 00:17:27,300
like we've been talking about

528
00:17:27,500 --> 00:17:29,200
by looking at past market cycles

529
00:17:29,200 --> 00:17:31,000
identifying potential risks

530
00:17:31,066 --> 00:17:33,900
and monitoring things like that labor market data

531
00:17:34,066 --> 00:17:36,000
investors can make better decisions

532
00:17:36,000 --> 00:17:38,366
and navigate the crypto market more effectively

533
00:17:38,366 --> 00:17:40,733
so it's not about knowing the future for sure

534
00:17:40,733 --> 00:17:42,766
but about understanding the possibilities

535
00:17:42,766 --> 00:17:44,600
and being prepared for anything

536
00:17:44,600 --> 00:17:46,900
precisely and that's where I think

537
00:17:46,900 --> 00:17:49,466
deep dives like this one can be so valuable

538
00:17:49,800 --> 00:17:51,666
by exploring different perspectives

539
00:17:51,666 --> 00:17:52,733
looking at the data

540
00:17:52,733 --> 00:17:54,533
and considering all the possibilities

541
00:17:54,533 --> 00:17:55,900
we can understand things better

542
00:17:55,900 --> 00:17:57,200
and make smarter choices

543
00:17:57,200 --> 00:17:58,866
like shining a light on a dark path

544
00:17:58,866 --> 00:18:00,266
so we can see where we're going

545
00:18:00,366 --> 00:18:01,333
great way to put it

546
00:18:01,333 --> 00:18:02,866
we've talked a lot about market stuff

547
00:18:02,866 --> 00:18:04,133
but I wanna step back for a minute

548
00:18:04,133 --> 00:18:05,800
and think about the bigger picture

549
00:18:06,000 --> 00:18:09,100
where does bitcoin fit into the whole financial world

550
00:18:09,133 --> 00:18:10,566
what do you think its role will be

551
00:18:10,566 --> 00:18:12,466
Mia that's a good question

552
00:18:13,466 --> 00:18:14,800
it's obviously shaking things up

553
00:18:14,800 --> 00:18:15,966
yeah in a lot of ways

554
00:18:15,966 --> 00:18:18,166
bitcoin represents a fundamental shift

555
00:18:18,166 --> 00:18:19,700
in how we think about money

556
00:18:19,700 --> 00:18:23,266
value and control its decentralized nature

557
00:18:23,266 --> 00:18:24,866
its limited supply

558
00:18:25,000 --> 00:18:27,533
and its global accessibility make it truly unique

559
00:18:27,533 --> 00:18:29,166
it's a potential game changer

560
00:18:29,166 --> 00:18:30,966
it's like it's disrupting the whole financial system

561
00:18:30,966 --> 00:18:32,600
exactly its very existence

562
00:18:32,600 --> 00:18:34,466
raises big questions about central banks

563
00:18:34,466 --> 00:18:36,066
about what money even is

564
00:18:36,066 --> 00:18:37,700
and about the future of finance

565
00:18:38,166 --> 00:18:40,133
of course some people say Bitcoin's just a bubble

566
00:18:40,133 --> 00:18:42,666
a fad that'll fade away what do you say to that

567
00:18:42,700 --> 00:18:44,466
well it's been super volatile

568
00:18:44,466 --> 00:18:46,666
and there's definitely been a lot of speculation

569
00:18:46,900 --> 00:18:49,066
but it's more than just a price on a screen right

570
00:18:49,066 --> 00:18:50,333
right it's a technology

571
00:18:50,333 --> 00:18:51,966
a network a whole movement

572
00:18:51,966 --> 00:18:53,800
it's like the internet in its early days

573
00:18:53,900 --> 00:18:55,500
lots of hype and uncertainty

574
00:18:55,566 --> 00:18:57,200
but ultimately it changed everything

575
00:18:57,200 --> 00:18:58,300
great comparison

576
00:18:58,300 --> 00:19:00,500
and just like the internet changed how we communicate

577
00:19:00,500 --> 00:19:01,700
and share information

578
00:19:02,066 --> 00:19:04,100
bitcoin has the potential to revolutionize

579
00:19:04,100 --> 00:19:05,833
how we think about and use money

580
00:19:06,133 --> 00:19:08,366
it lets people send value to each other directly

581
00:19:08,366 --> 00:19:09,700
without needing banks

582
00:19:09,900 --> 00:19:11,700
it can be a hedge against inflation

583
00:19:11,700 --> 00:19:13,533
and economic instability and

584
00:19:13,533 --> 00:19:16,100
it gives people more control over their own finances

585
00:19:16,200 --> 00:19:17,533
so it's not just about making money

586
00:19:17,533 --> 00:19:18,900
it's about a shift in power

587
00:19:18,900 --> 00:19:20,266
giving more control to the people

588
00:19:20,266 --> 00:19:23,500
exactly and that's what makes bitcoin so compelling

589
00:19:23,500 --> 00:19:24,866
both as an investment

590
00:19:24,866 --> 00:19:27,133
and as a social and technological force

591
00:19:27,133 --> 00:19:28,900
it's like a seed that's been planted

592
00:19:28,900 --> 00:19:30,800
we don't know what it will grow into

593
00:19:31,100 --> 00:19:34,300
but it has the potential to be something really amazing

594
00:19:34,300 --> 00:19:36,333
and that's what makes this so exciting to watch

595
00:19:36,333 --> 00:19:37,666
it's a journey of discovery

596
00:19:37,666 --> 00:19:39,600
full of possibilities and challenges

597
00:19:39,700 --> 00:19:41,666
okay so back to the current market

598
00:19:41,766 --> 00:19:43,500
Cowan said that bitcoin is doing now

599
00:19:43,500 --> 00:19:46,166
what it did back in 2016 and 2017

600
00:19:46,766 --> 00:19:47,800
tell me more about that

601
00:19:47,800 --> 00:19:49,600
what's similar and what's different

602
00:19:49,600 --> 00:19:52,400
sure one big similarity is the timing

603
00:19:52,533 --> 00:19:55,066
specifically in relation to the Bitcoin having

604
00:19:55,500 --> 00:19:56,100
the having

605
00:19:56,100 --> 00:19:58,700
is this event that happens about every four years

606
00:19:58,700 --> 00:20:01,000
where the rate at which new bitcoins are created

607
00:20:01,000 --> 00:20:03,500
gets cut in half this reduction in supply

608
00:20:03,500 --> 00:20:05,066
is generally seen as a positive thing

609
00:20:05,066 --> 00:20:06,933
because it makes Bitcoin more scarce

610
00:20:06,933 --> 00:20:08,966
while demand potentially keeps growing

611
00:20:08,966 --> 00:20:10,533
so it's like squeezing the supply

612
00:20:10,533 --> 00:20:11,900
which could push prices up

613
00:20:11,900 --> 00:20:13,166
exactly now

614
00:20:13,166 --> 00:20:15,333
the last habbing was in May 2020

615
00:20:15,333 --> 00:20:17,166
and both back then and now

616
00:20:17,166 --> 00:20:20,000
we saw big price increases in the months after

617
00:20:20,200 --> 00:20:22,133
this makes people think that the having

618
00:20:22,133 --> 00:20:25,066
might act as a trigger for these big market cycles

619
00:20:25,100 --> 00:20:27,766
interesting like a domino effect maybe

620
00:20:27,933 --> 00:20:30,300
another similarity is the pattern of consolidation

621
00:20:30,300 --> 00:20:32,133
and breakouts in both cases

622
00:20:32,133 --> 00:20:33,700
Bitcoin traded sideways for a while

623
00:20:33,700 --> 00:20:36,666
consolidating before shooting up to new all time highs

624
00:20:36,666 --> 00:20:38,900
like a climber taking a break to catch their breath

625
00:20:38,900 --> 00:20:40,533
before tackling the next part of the mountain

626
00:20:40,533 --> 00:20:41,833
perfect analogy

627
00:20:42,400 --> 00:20:42,900
now of course

628
00:20:42,900 --> 00:20:44,500
there are some differences too

629
00:20:44,600 --> 00:20:47,733
one big one is the level of institutional adoption

630
00:20:47,733 --> 00:20:50,166
back in 2016 and 2017

631
00:20:50,333 --> 00:20:52,700
not many big institutions were involved

632
00:20:52,933 --> 00:20:54,600
today it's a different story

633
00:20:54,600 --> 00:20:56,466
we're seeing major investment firms

634
00:20:56,466 --> 00:20:59,666
hedge funds even corporations getting into Bitcoin

635
00:20:59,666 --> 00:21:01,300
so the market is more mature now

636
00:21:01,300 --> 00:21:02,800
more grown up exactly

637
00:21:02,800 --> 00:21:04,300
and that brings more money

638
00:21:04,300 --> 00:21:08,233
more stability and potentially less wild swings

639
00:21:08,400 --> 00:21:10,666
like the adults are supervising the party now

640
00:21:10,666 --> 00:21:11,666
kind of yeah

641
00:21:11,666 --> 00:21:13,400
and that's probably going to affect

642
00:21:13,400 --> 00:21:16,366
how this cycle plays out another big difference is

643
00:21:16,366 --> 00:21:18,466
the overall economic situation

644
00:21:18,466 --> 00:21:20,400
back in 2016 and 2017

645
00:21:20,400 --> 00:21:22,600
the global economy was pretty stable

646
00:21:22,766 --> 00:21:24,766
today we've got higher inflation

647
00:21:24,766 --> 00:21:27,166
rising interest rates and a lot of uncertainty

648
00:21:27,166 --> 00:21:28,666
so the world's a lot more chaotic now

649
00:21:28,666 --> 00:21:29,766
yeah exactly

650
00:21:29,766 --> 00:21:31,166
and those big economic factors

651
00:21:31,166 --> 00:21:33,800
are gonna play a big role in how bitcoin performs

652
00:21:33,933 --> 00:21:34,900
so even though

653
00:21:34,900 --> 00:21:36,100
there are some interesting

654
00:21:36,100 --> 00:21:37,566
similarities to the last cycle

655
00:21:37,566 --> 00:21:39,400
things are different this time around

656
00:21:39,666 --> 00:21:41,500
it's hard to say for sure how things will go

657
00:21:41,500 --> 00:21:42,500
we can learn from history

658
00:21:42,500 --> 00:21:43,500
but it's not a crystal ball

659
00:21:43,500 --> 00:21:45,000
right exactly

660
00:21:45,000 --> 00:21:46,466
we need to think about both

661
00:21:46,466 --> 00:21:48,300
the similarities and the differences

662
00:21:48,300 --> 00:21:50,300
as we navigate this market okay

663
00:21:50,300 --> 00:21:51,566
so back to the present

664
00:21:51,800 --> 00:21:53,500
we spent a lot of time talking about this

665
00:21:53,500 --> 00:21:55,433
labor market data coming out next week

666
00:21:55,666 --> 00:21:58,500
and how Cowan thinks it's a big moment for Bitcoin

667
00:21:59,133 --> 00:22:00,600
why does he think it's so important

668
00:22:00,600 --> 00:22:01,333
well remember

669
00:22:01,333 --> 00:22:03,666
the labor market data tells us how healthy the US

670
00:22:03,666 --> 00:22:06,466
economy is and the US economy affects everything

671
00:22:06,466 --> 00:22:10,100
including crypto and because bitcoin is often seen as

672
00:22:10,100 --> 00:22:12,033
a hedge against economic uncertainty

673
00:22:12,300 --> 00:22:14,900
if the data shows a weak economy

674
00:22:14,900 --> 00:22:17,633
people might start moving their money into bitcoin

675
00:22:17,766 --> 00:22:18,300
you said that

676
00:22:18,300 --> 00:22:20,800
a high unemployment rate could actually be good for

677
00:22:20,800 --> 00:22:23,200
bitcoin because it might push the Fed

678
00:22:23,200 --> 00:22:25,466
to make decisions that weaken the dollar

679
00:22:25,500 --> 00:22:27,066
and that's good for bitcoin

680
00:22:27,066 --> 00:22:28,066
could you explain that again

681
00:22:28,066 --> 00:22:29,800
sure it's a bit of a roundabout effect

682
00:22:29,800 --> 00:22:32,533
but the idea is this if the economy is struggling

683
00:22:32,533 --> 00:22:34,100
and unemployment is going up

684
00:22:34,133 --> 00:22:36,000
the Fed might try to help by doing things

685
00:22:36,000 --> 00:22:37,300
like lowering interest rates

686
00:22:37,300 --> 00:22:38,633
or printing more money

687
00:22:38,733 --> 00:22:40,866
but these actions can sometimes backfire

688
00:22:40,866 --> 00:22:43,900
and weaken the US dollar and when that happens

689
00:22:43,933 --> 00:22:46,100
people might turn to things like bitcoin

690
00:22:46,100 --> 00:22:48,700
which aren't tied to any specific country's economy

691
00:22:48,700 --> 00:22:50,066
it's like a chain reaction

692
00:22:50,700 --> 00:22:53,400
the labor market data affects the Fed

693
00:22:53,533 --> 00:22:55,966
which affects the dollar which affects Bitcoin

694
00:22:55,966 --> 00:22:57,766
exactly it's all interconnected

695
00:22:57,766 --> 00:23:00,333
but has there actually been a clear connection between

696
00:23:00,333 --> 00:23:02,300
jobs data and Bitcoin's price

697
00:23:02,300 --> 00:23:03,866
in the past good question

698
00:23:03,866 --> 00:23:04,600
has there well

699
00:23:04,600 --> 00:23:05,733
it's not quite that simple

700
00:23:05,733 --> 00:23:07,933
it's not like every time unemployment goes up

701
00:23:07,933 --> 00:23:09,866
bitcoin automatically goes up too

702
00:23:10,533 --> 00:23:12,366
sometimes a strong economy

703
00:23:12,366 --> 00:23:14,933
with low unemployment has been good for Bitcoin

704
00:23:14,933 --> 00:23:16,100
wait really

705
00:23:16,266 --> 00:23:17,900
how does that make sense think about it

706
00:23:17,900 --> 00:23:19,700
when the economy is doing well

707
00:23:19,700 --> 00:23:21,300
people have more money to invest

708
00:23:21,300 --> 00:23:24,600
right and some of that money might flow into Bitcoin

709
00:23:24,600 --> 00:23:25,166
so sometimes

710
00:23:25,166 --> 00:23:27,600
what's good for the economy is good for Bitcoin too

711
00:23:27,700 --> 00:23:29,466
exactly it all depends on

712
00:23:29,466 --> 00:23:30,733
how investors are feeling

713
00:23:30,733 --> 00:23:33,000
and how they interpret the economic news

714
00:23:33,166 --> 00:23:34,900
but as we discussed earlier

715
00:23:34,900 --> 00:23:37,566
there are also times when bad economic news

716
00:23:37,566 --> 00:23:40,466
like high unemployment can be good for Bitcoin

717
00:23:40,466 --> 00:23:43,300
because it makes those Fed actions more likely

718
00:23:43,400 --> 00:23:45,000
the ones that can weaken the dollar

719
00:23:45,000 --> 00:23:45,866
exactly so

720
00:23:45,866 --> 00:23:47,100
the key is to understand

721
00:23:47,100 --> 00:23:49,566
the innerplay between all these different factors

722
00:23:49,800 --> 00:23:51,100
the economic data

723
00:23:51,200 --> 00:23:54,266
the feds actions and the overall mood of the market

724
00:23:54,500 --> 00:23:57,300
it's a complex puzzle with a lot of moving pieces

725
00:23:57,300 --> 00:23:59,033
sounds like trying to predict the weather

726
00:23:59,066 --> 00:24:00,166
you can look at the forecast

727
00:24:00,166 --> 00:24:01,600
but there always surprises

728
00:24:01,600 --> 00:24:03,066
that's a great analogy

729
00:24:03,400 --> 00:24:05,466
the point is not to make perfect predictions

730
00:24:05,466 --> 00:24:07,600
but to understand the different possibilities

731
00:24:07,600 --> 00:24:10,000
and how different scenarios might play out

732
00:24:10,300 --> 00:24:12,500
that's why this upcoming labor market data is so

733
00:24:12,500 --> 00:24:14,766
important it could give us a big hint

734
00:24:14,766 --> 00:24:16,933
about what's likely to happen with Bitcoin

735
00:24:16,933 --> 00:24:17,400
okay so

736
00:24:17,400 --> 00:24:18,100
we've talked about

737
00:24:18,100 --> 00:24:19,600
the relationship between the labor market

738
00:24:19,600 --> 00:24:21,566
and Bitcoin and we've discussed

739
00:24:21,566 --> 00:24:23,500
the different scenarios that could unfold

740
00:24:23,500 --> 00:24:25,366
based on this upcoming data release

741
00:24:25,866 --> 00:24:28,066
but I wanna go back to this idea of bitcoin

742
00:24:28,066 --> 00:24:30,466
as a hedge against economic uncertainty

743
00:24:30,900 --> 00:24:32,000
how does that work exactly

744
00:24:32,000 --> 00:24:35,266
what makes bitcoin appealing as a safe haven asset

745
00:24:35,266 --> 00:24:36,500
that's a great question

746
00:24:36,500 --> 00:24:38,133
and it gets to the heart of what makes

747
00:24:38,133 --> 00:24:41,266
bitcoin so different its appeal as a safe haven

748
00:24:41,266 --> 00:24:43,200
comes down to a few key things

749
00:24:43,566 --> 00:24:46,000
first it's decentralized nature

750
00:24:46,266 --> 00:24:47,766
unlike regular currencies

751
00:24:47,766 --> 00:24:49,533
which are controlled by central banks

752
00:24:49,533 --> 00:24:52,200
bitcoin runs on a decentralized network

753
00:24:52,533 --> 00:24:54,933
this means it's not subject to the whims of governments

754
00:24:54,933 --> 00:24:56,633
or financial institutions

755
00:24:56,666 --> 00:25:00,100
no single entity can manipulate or devalue it

756
00:25:00,100 --> 00:25:00,933
so it's like a lifeboat

757
00:25:00,933 --> 00:25:02,466
that can't be sunk by the same storm

758
00:25:02,466 --> 00:25:04,733
that might take down traditional financial systems

759
00:25:04,733 --> 00:25:06,033
I like that analogy

760
00:25:06,333 --> 00:25:08,133
the second thing is its limited supply

761
00:25:08,133 --> 00:25:11,033
there will only ever be 21 million bitcoins

762
00:25:11,133 --> 00:25:13,133
this means it can't be inflated by governments

763
00:25:13,133 --> 00:25:14,966
or central banks printing more money

764
00:25:15,200 --> 00:25:18,000
the scarcity is seen as a Protection against inflation

765
00:25:18,000 --> 00:25:20,500
and currency devaluation kinda like gold

766
00:25:20,500 --> 00:25:22,066
so it's like a digital version of gold

767
00:25:22,066 --> 00:25:25,266
a finite resource that can't be manipulated or debased

768
00:25:25,266 --> 00:25:28,633
exactly and the third thing is its global accessibility

769
00:25:28,900 --> 00:25:31,466
you can send and receive bitcoin anywhere in the world

770
00:25:31,466 --> 00:25:32,833
with an internet connection

771
00:25:32,933 --> 00:25:34,400
this makes it super valuable

772
00:25:34,400 --> 00:25:36,766
for people in countries with unstable currencies

773
00:25:36,766 --> 00:25:39,100
or limited access to traditional banking

774
00:25:39,100 --> 00:25:40,400
so it's like a financial passport

775
00:25:40,400 --> 00:25:42,700
that lets you bypass traditional gatekeepers

776
00:25:42,700 --> 00:25:45,566
and access a global network of value exchange

777
00:25:45,733 --> 00:25:48,766
precisely these characteristics decentralization

778
00:25:48,766 --> 00:25:51,100
limited supply and global accessibility

779
00:25:51,100 --> 00:25:53,800
are what make bitcoin attractive as a safe haven

780
00:25:53,966 --> 00:25:55,600
especially during times of economic

781
00:25:55,600 --> 00:25:59,033
or geopolitical turmoil so when things get rough

782
00:25:59,500 --> 00:26:02,833
bitcoin could be a beacon of stability and resilience

783
00:26:02,966 --> 00:26:05,033
it's definitely a possibility

784
00:26:05,100 --> 00:26:06,366
of course it's important to remember

785
00:26:06,366 --> 00:26:08,333
that bitcoin is still a relatively young

786
00:26:08,333 --> 00:26:12,000
and volatile asset its price can swing wildly

787
00:26:12,066 --> 00:26:14,833
and its future as a safe haven isn't guaranteed

788
00:26:15,000 --> 00:26:17,066
it's not completely risk free

789
00:26:17,166 --> 00:26:18,100
but it does have some

790
00:26:18,100 --> 00:26:19,900
unique features that make it appealing

791
00:26:19,900 --> 00:26:21,600
during uncertain times okay

792
00:26:21,600 --> 00:26:23,533
that makes sense so we've covered a lot of ground here

793
00:26:23,533 --> 00:26:25,133
we talked about market cycles

794
00:26:25,133 --> 00:26:26,500
bullish and bears factors

795
00:26:26,500 --> 00:26:28,866
the importance of this upcoming labor market data

796
00:26:29,133 --> 00:26:31,566
and bitcoin's potential as a safe haven asset

797
00:26:32,266 --> 00:26:33,666
but let's shift gears for a moment

798
00:26:33,666 --> 00:26:34,866
and talk about the average person

799
00:26:34,866 --> 00:26:36,966
who's just starting to learn about Bitcoin

800
00:26:36,966 --> 00:26:38,400
what advice would you give them

801
00:26:38,400 --> 00:26:40,000
as they dip their toes into this new

802
00:26:40,000 --> 00:26:40,933
and exciting world

803
00:26:40,933 --> 00:26:43,766
that's a great question and one I hear a lot

804
00:26:44,200 --> 00:26:46,400
my advice for beginners would be this

805
00:26:46,666 --> 00:26:49,200
first learn as much as you can

806
00:26:49,366 --> 00:26:51,400
read articles watch videos

807
00:26:51,400 --> 00:26:53,333
listen to podcasts like this one

808
00:26:53,333 --> 00:26:55,466
and talk to people who know about Bitcoin

809
00:26:56,000 --> 00:26:57,800
the more you understand how it works

810
00:26:57,800 --> 00:26:59,000
the better decisions you'll make

811
00:26:59,000 --> 00:27:00,400
it's like anything new right

812
00:27:00,600 --> 00:27:02,400
gotta do your research exactly

813
00:27:02,500 --> 00:27:04,666
and don't be afraid to ask questions

814
00:27:04,666 --> 00:27:06,766
there are tons of resources online

815
00:27:06,766 --> 00:27:08,133
and within the Bitcoin community

816
00:27:08,133 --> 00:27:10,266
that can help you learn second

817
00:27:10,500 --> 00:27:11,400
start small

818
00:27:11,800 --> 00:27:14,100
don't invest more than you can afford to lose

819
00:27:14,366 --> 00:27:15,900
bitcoin is a volatile asset

820
00:27:15,900 --> 00:27:17,900
its price can move up and down quickly

821
00:27:17,933 --> 00:27:19,366
so start with a small amount

822
00:27:19,366 --> 00:27:21,266
and gradually increase your exposure

823
00:27:21,266 --> 00:27:23,366
as you gain more experience and confidence

824
00:27:23,366 --> 00:27:25,600
so it's like testing the waters before jumping in

825
00:27:25,600 --> 00:27:27,100
exactly and third

826
00:27:27,100 --> 00:27:30,233
be patient bitcoin is a long term game

827
00:27:30,333 --> 00:27:32,166
don't expect to get rich quick

828
00:27:32,366 --> 00:27:34,333
focus on understanding the technology

829
00:27:34,333 --> 00:27:36,166
the market and your own investment goals

830
00:27:36,166 --> 00:27:37,300
it's like planting a seed

831
00:27:37,300 --> 00:27:38,900
and watching it grow over time

832
00:27:38,900 --> 00:27:39,800
precisely

833
00:27:39,800 --> 00:27:42,200
bitcoin is still young and has a lot of potential

834
00:27:42,366 --> 00:27:43,666
by taking a long term view

835
00:27:43,666 --> 00:27:45,500
you can benefit from its growth in evolution

836
00:27:45,500 --> 00:27:46,933
so it's not about timing the market

837
00:27:46,933 --> 00:27:48,600
or chasing quick profits

838
00:27:48,733 --> 00:27:50,700
but about understanding the fundamentals

839
00:27:50,900 --> 00:27:52,200
and making informed decisions

840
00:27:52,200 --> 00:27:54,566
based on your own situation and goals

841
00:27:54,600 --> 00:27:56,533
exactly knowledge

842
00:27:56,533 --> 00:27:57,300
patience

843
00:27:57,300 --> 00:28:00,000
and a little healthy skepticism will serve you well

844
00:28:00,000 --> 00:28:01,400
in the world of Bitcoin

845
00:28:01,400 --> 00:28:03,233
those are great tips for beginners

846
00:28:03,500 --> 00:28:05,966
but what about more experience bitcoin investors

847
00:28:06,000 --> 00:28:08,333
what should they be focusing on right now

848
00:28:08,333 --> 00:28:11,300
that's a good question I think for experience investors

849
00:28:11,300 --> 00:28:13,266
it's all about a few key things

850
00:28:13,400 --> 00:28:15,466
first managing risk

851
00:28:15,933 --> 00:28:16,900
like we discussed

852
00:28:16,900 --> 00:28:19,766
Bitcoin is volatile and the market can change fast

853
00:28:19,766 --> 00:28:22,666
having a solid risk management strategy is crucial

854
00:28:22,666 --> 00:28:25,066
this might mean diversifying your portfolio

855
00:28:25,066 --> 00:28:27,833
setting stop loss orders to limit potential losses

856
00:28:28,000 --> 00:28:28,733
and being prepared

857
00:28:28,733 --> 00:28:31,133
mentally and financially for potential downturns

858
00:28:31,133 --> 00:28:32,400
so it's not just about making money

859
00:28:32,400 --> 00:28:34,533
but also about protecting what you've already made

860
00:28:34,533 --> 00:28:35,466
exactly

861
00:28:35,466 --> 00:28:37,966
protecting your capital is just as important as growing

862
00:28:37,966 --> 00:28:40,366
it especially in a market like crypto

863
00:28:40,700 --> 00:28:42,633
the second thing is staying informed

864
00:28:42,866 --> 00:28:44,600
the crypto world is constantly changing

865
00:28:44,600 --> 00:28:45,700
with new technologies

866
00:28:45,700 --> 00:28:48,800
regulations and market trends emerging all the time

867
00:28:48,866 --> 00:28:49,766
staying up to date

868
00:28:49,766 --> 00:28:51,933
and being flexible with your investment strategy

869
00:28:51,933 --> 00:28:52,700
is key

870
00:28:52,700 --> 00:28:55,866
it's like navigating a constantly changing landscape

871
00:28:56,300 --> 00:28:58,800
you got to be aware of the shifting terrain precisely

872
00:28:59,066 --> 00:29:01,266
and the third thing I'd suggest is to step back

873
00:29:01,266 --> 00:29:02,600
and think about the big picture

874
00:29:02,600 --> 00:29:04,166
implications of Bitcoin

875
00:29:04,766 --> 00:29:07,800
as we've discussed it's more than just an investment

876
00:29:07,800 --> 00:29:09,566
it's a technology a network

877
00:29:09,566 --> 00:29:13,433
a movement that has the potential to reshape finance

878
00:29:13,766 --> 00:29:15,866
consider the broader impact of Bitcoin

879
00:29:15,866 --> 00:29:17,700
and how it might fit into your long term

880
00:29:17,700 --> 00:29:19,100
investment goals so

881
00:29:19,100 --> 00:29:21,633
it's about looking beyond the daily price swings

882
00:29:21,700 --> 00:29:23,400
and thinking about the bigger picture

883
00:29:23,666 --> 00:29:25,800
what role could bitcoin play in the world

884
00:29:25,800 --> 00:29:28,033
10 or 20 years from now exactly

885
00:29:28,100 --> 00:29:29,700
bitcoin has the potential to change

886
00:29:29,700 --> 00:29:31,233
the financial system as we know it

887
00:29:31,600 --> 00:29:33,800
by understanding its potential and its risks

888
00:29:33,866 --> 00:29:36,166
experienced investors can make better decisions

889
00:29:36,166 --> 00:29:38,866
and position themselves to benefit from its evolution

890
00:29:39,066 --> 00:29:40,533
okay so we've talked about the market

891
00:29:40,533 --> 00:29:41,966
bitcoin is a safe haven

892
00:29:42,100 --> 00:29:44,566
advice for beginners and experienced investors

893
00:29:44,566 --> 00:29:45,733
is there anything else you wanna add

894
00:29:45,733 --> 00:29:48,066
before we move on to the last part of our deep dive

895
00:29:48,066 --> 00:29:48,900
you know I think

896
00:29:48,900 --> 00:29:50,533
it's worth emphasizing that bitcoin

897
00:29:50,533 --> 00:29:52,666
is more than just an investment

898
00:29:52,866 --> 00:29:55,300
it's an innovation that's challenging the status quo

899
00:29:55,300 --> 00:29:57,600
and making us rethink how we approach money

900
00:29:57,600 --> 00:30:00,700
and finance even if you never buy any bitcoin

901
00:30:00,700 --> 00:30:02,000
it's worth paying attention to

902
00:30:02,000 --> 00:30:03,466
because it's likely to have a big

903
00:30:03,466 --> 00:30:05,166
impact on the world in the coming years

904
00:30:05,166 --> 00:30:06,533
that's a powerful statement

905
00:30:06,533 --> 00:30:07,300
yeah I think

906
00:30:07,300 --> 00:30:09,333
it's why so many people are interested in bitcoin

907
00:30:09,333 --> 00:30:11,833
it's not just about potential profits

908
00:30:12,166 --> 00:30:13,933
it's about being part of something bigger

909
00:30:13,933 --> 00:30:16,366
something that could change the world exactly

910
00:30:16,366 --> 00:30:18,500
it's about empowering individuals

911
00:30:18,500 --> 00:30:20,366
promoting financial inclusion

912
00:30:20,366 --> 00:30:23,133
and creating a more transparent and equitable

913
00:30:23,133 --> 00:30:25,300
financial system those are some big goals

914
00:30:25,300 --> 00:30:26,133
yeah or Mays

915
00:30:26,133 --> 00:30:28,266
to be seen whether Bitcoin can actually achieve them

916
00:30:28,266 --> 00:30:29,066
of course

917
00:30:29,466 --> 00:30:31,866
but the fact that it's sparked these conversations

918
00:30:31,866 --> 00:30:35,033
and challenged our assumptions is a big deal in itself

919
00:30:35,266 --> 00:30:37,666
it's making us rethink how we do things

920
00:30:37,666 --> 00:30:38,933
and that's always a good thing

921
00:30:38,933 --> 00:30:42,033
I agree change can be uncomfortable

922
00:30:42,200 --> 00:30:44,500
but it's often necessary for progress

923
00:30:45,166 --> 00:30:47,300
okay let's pause here for now

924
00:30:47,300 --> 00:30:48,500
we've covered a lot

925
00:30:48,666 --> 00:30:50,866
and our listeners probably have a lot to think about

926
00:30:51,600 --> 00:30:53,600
in the final part of our deep dive

927
00:30:53,600 --> 00:30:55,133
I want to explore something that

928
00:30:55,133 --> 00:30:57,000
Cowan didn't really talk about

929
00:30:57,500 --> 00:30:59,900
what happens after Bitcoin breaks out

930
00:31:00,266 --> 00:31:02,000
will we see a new bull market

931
00:31:02,000 --> 00:31:03,700
or will there be a correction

932
00:31:03,800 --> 00:31:06,866
and what factors could affect its price in the long run

933
00:31:06,866 --> 00:31:08,266
those are great questions

934
00:31:08,266 --> 00:31:09,500
and I think they're the perfect

935
00:31:09,500 --> 00:31:11,266
way to wrap up our deep dive

936
00:31:11,266 --> 00:31:12,966
let's take a short break and when we come back

937
00:31:12,966 --> 00:31:15,566
we'll explore what the future might hold for bitcoin

938
00:31:15,566 --> 00:31:18,033
alright so picking up where we left off

939
00:31:18,466 --> 00:31:20,600
Bitcoin's not just about buying and selling

940
00:31:20,600 --> 00:31:24,000
it's really making us rethink what money even is

941
00:31:24,100 --> 00:31:26,200
it's true whether you're a hardcore investor

942
00:31:26,200 --> 00:31:28,033
or just someone who's heard of bitcoin

943
00:31:28,300 --> 00:31:29,100
it's hard to deny

944
00:31:29,100 --> 00:31:30,866
it's shaking things up in the financial world

945
00:31:30,866 --> 00:31:33,000
we're seeing all these new ideas popping up about money

946
00:31:33,000 --> 00:31:34,600
in value new technologies

947
00:31:34,600 --> 00:31:35,800
it's pretty exciting yeah

948
00:31:35,800 --> 00:31:36,100
it's like

949
00:31:36,100 --> 00:31:37,933
bitcoin cracked open a door to a whole new world

950
00:31:37,933 --> 00:31:38,900
and now we're all trying to figure out

951
00:31:38,900 --> 00:31:40,866
what's on the other side exactly

952
00:31:40,900 --> 00:31:42,733
and speaking of uncharted territory

953
00:31:42,733 --> 00:31:44,166
remember how Benjamin Cowan

954
00:31:44,166 --> 00:31:45,066
mostly talked about

955
00:31:45,066 --> 00:31:48,400
what might lead up to Bitcoin breaking $100,000

956
00:31:48,400 --> 00:31:49,800
what about what happens after that

957
00:31:49,800 --> 00:31:51,166
yeah that's the big question right

958
00:31:51,166 --> 00:31:53,333
does breaking $100,000 mean

959
00:31:53,333 --> 00:31:54,866
bitcoins just gonna keep going up

960
00:31:54,866 --> 00:31:58,000
like a new Bull Run or could it still drop

961
00:31:58,100 --> 00:31:59,566
even after it hits that big number

962
00:31:59,566 --> 00:32:01,733
and what are the things that'll shape bitcoin's future

963
00:32:01,733 --> 00:32:04,000
in the long run we talked about some of the risks

964
00:32:04,000 --> 00:32:07,433
but what about the potential for it to grow and change

965
00:32:07,500 --> 00:32:09,300
okay so let's talk about the future

966
00:32:09,300 --> 00:32:11,866
what's exciting you about bitcoin's potential

967
00:32:11,866 --> 00:32:14,133
well one thing that really gets me is that

968
00:32:14,133 --> 00:32:16,166
we're still so early in the game

969
00:32:16,166 --> 00:32:19,733
we're witnessing the birth of a whole new kind of asset

970
00:32:19,733 --> 00:32:22,266
a new technology a new way to think about money

971
00:32:22,400 --> 00:32:22,866
and that means

972
00:32:22,866 --> 00:32:25,300
there's a ton of room for growth and innovation

973
00:32:25,300 --> 00:32:26,800
it's like the internet and the 90s right

974
00:32:26,800 --> 00:32:28,133
people knew it was a big deal

975
00:32:28,133 --> 00:32:30,000
but they couldn't even imagine how much it would change

976
00:32:30,000 --> 00:32:32,300
everything perfect comparison

977
00:32:32,400 --> 00:32:33,566
and just like the internet

978
00:32:33,566 --> 00:32:35,800
I think bitcoin's gonna keep evolving

979
00:32:35,800 --> 00:32:37,966
driven by new tech more people using it

980
00:32:37,966 --> 00:32:40,600
and of course how governments decide to regulate it

981
00:32:41,066 --> 00:32:42,600
let's start with the tech side

982
00:32:42,666 --> 00:32:45,800
what innovations could shape Bitcoin's future

983
00:32:45,800 --> 00:32:46,900
sounds good

984
00:32:47,766 --> 00:32:48,800
what do you keep an eye on

985
00:32:48,900 --> 00:32:50,500
well we talked about the Lightning Network

986
00:32:50,500 --> 00:32:52,733
how it's making bitcoin faster and easier to use

987
00:32:52,733 --> 00:32:55,266
for everyday stuff but there's more

988
00:32:55,566 --> 00:32:58,266
people are working on ways to make bitcoin transactions

989
00:32:58,266 --> 00:33:00,166
even more private insecure

990
00:33:00,166 --> 00:33:03,466
which is a big deal for people concerned about privacy

991
00:33:03,466 --> 00:33:05,000
yeah privacy is a big issue these days

992
00:33:05,000 --> 00:33:06,733
with everything being online right

993
00:33:06,733 --> 00:33:08,933
and then there are things like smart contracts

994
00:33:08,933 --> 00:33:10,333
and decentralized finance

995
00:33:10,333 --> 00:33:13,266
what they call defi being built on top of Bitcoin

996
00:33:13,500 --> 00:33:15,700
these could open up all sorts of new possibilities

997
00:33:15,700 --> 00:33:17,133
like decentralized lending

998
00:33:17,133 --> 00:33:18,500
new ways to manage assets

999
00:33:18,500 --> 00:33:21,133
even prediction markets it's pretty wild

1000
00:33:21,133 --> 00:33:22,366
so Bitcoin could be like

1001
00:33:22,366 --> 00:33:25,000
the base layer for a whole new financial system

1002
00:33:25,000 --> 00:33:28,400
it's definitely possible and as that system grows

1003
00:33:28,400 --> 00:33:30,100
it could attract more users

1004
00:33:30,100 --> 00:33:31,766
developers and investment

1005
00:33:31,766 --> 00:33:33,966
which would drive even more innovation

1006
00:33:34,366 --> 00:33:35,700
it's like building a city

1007
00:33:35,733 --> 00:33:36,500
the more you build

1008
00:33:36,500 --> 00:33:38,600
the more people wanna come live and work there

1009
00:33:38,600 --> 00:33:40,133
which leads to even more building

1010
00:33:40,133 --> 00:33:41,800
okay so that's the tech side

1011
00:33:41,900 --> 00:33:44,366
but what about adoption what needs to happen

1012
00:33:44,366 --> 00:33:46,266
for bitcoin to go from this niche thing

1013
00:33:46,266 --> 00:33:47,666
to something everyone uses

1014
00:33:47,666 --> 00:33:50,266
I think the key is making it easy to use

1015
00:33:50,500 --> 00:33:51,800
right now buying

1016
00:33:51,800 --> 00:33:54,933
selling and using Bitcoin can be pretty confusing

1017
00:33:54,933 --> 00:33:57,066
for most people while it's exchanges

1018
00:33:57,066 --> 00:33:58,666
all these new terms to learn

1019
00:33:59,333 --> 00:34:00,666
if we want mass adoption

1020
00:34:00,666 --> 00:34:04,000
we gotta make the experience simple and intuitive yeah

1021
00:34:04,000 --> 00:34:06,300
like remember when computers were super complicated

1022
00:34:06,300 --> 00:34:06,533
used

1023
00:34:06,533 --> 00:34:08,500
then someone came along and made them user friendly

1024
00:34:08,500 --> 00:34:10,100
and boom everyone started using them

1025
00:34:10,100 --> 00:34:10,966
exactly

1026
00:34:11,166 --> 00:34:14,100
we need that same kind of aha moment for Bitcoin

1027
00:34:14,100 --> 00:34:14,933
where people are like oh

1028
00:34:14,933 --> 00:34:16,466
this is actually easy and make sense

1029
00:34:16,466 --> 00:34:17,266
and I think that'll happen

1030
00:34:17,266 --> 00:34:19,366
as more businesses start accepting bitcoin

1031
00:34:19,366 --> 00:34:21,366
and as those user friendly wallets

1032
00:34:21,366 --> 00:34:22,866
and apps become more common

1033
00:34:22,866 --> 00:34:25,533
so it's about making Bitcoin accessible to everyone

1034
00:34:25,533 --> 00:34:27,666
not just the tech savvy exactly

1035
00:34:27,666 --> 00:34:29,133
and then there's a whole regulation thing

1036
00:34:29,133 --> 00:34:31,833
we talked about how uncertain regulations are a risk

1037
00:34:31,900 --> 00:34:33,500
but they can also be a good thing

1038
00:34:33,733 --> 00:34:37,566
how so while clear regulations can bring legitimacy

1039
00:34:37,566 --> 00:34:39,100
and stability to the industry

1040
00:34:39,100 --> 00:34:40,800
it's like setting the rules of the game

1041
00:34:40,800 --> 00:34:43,333
so everyone knows what's allowed and what's not

1042
00:34:43,333 --> 00:34:45,400
so it's about creating a level playing field

1043
00:34:45,400 --> 00:34:47,666
making sure everyone's playing by the same rules

1044
00:34:47,666 --> 00:34:50,700
right and as more governments create those clear rules

1045
00:34:50,700 --> 00:34:53,800
for bitcoin it could boost confidence among investors

1046
00:34:53,800 --> 00:34:56,333
and pave the way for more people to start using it

1047
00:34:56,333 --> 00:34:59,266
it's like giving bitcoin an official seat to the table

1048
00:34:59,300 --> 00:35:01,100
recognizing it as a legitimate

1049
00:35:01,100 --> 00:35:02,966
part of the global financial system

1050
00:35:02,966 --> 00:35:04,533
exactly okay

1051
00:35:04,533 --> 00:35:06,700
so we've talked about the potential for growth

1052
00:35:06,700 --> 00:35:09,566
and innovation but let's be real for a second

1053
00:35:10,300 --> 00:35:12,600
bitcoins known for being super volatile

1054
00:35:12,600 --> 00:35:16,266
with huge price swings can it really become mainstream

1055
00:35:16,266 --> 00:35:18,366
if it's so unpredictable yeah

1056
00:35:18,366 --> 00:35:20,100
that's a big concern for a lot of people

1057
00:35:20,100 --> 00:35:21,300
it's a valid question

1058
00:35:21,300 --> 00:35:23,400
and it's one that people have been debating forever

1059
00:35:23,400 --> 00:35:24,566
in the cryptoworld

1060
00:35:24,733 --> 00:35:27,633
some say the volatility is just part of growing up

1061
00:35:27,666 --> 00:35:29,933
that it'll stabilize as the market matures

1062
00:35:29,933 --> 00:35:31,466
and more people use bitcoin

1063
00:35:31,566 --> 00:35:33,633
others say it's just part of bitcoin's DNA

1064
00:35:33,700 --> 00:35:35,800
that it'll always be prone to big swings

1065
00:35:35,800 --> 00:35:38,300
because it's decentralized and digital

1066
00:35:38,366 --> 00:35:40,066
influenced by market sentiment

1067
00:35:40,066 --> 00:35:41,933
and all sorts of external factors

1068
00:35:41,933 --> 00:35:44,266
this is no easy answer not really

1069
00:35:44,266 --> 00:35:46,400
it's something we'll have to see play out over time

1070
00:35:46,400 --> 00:35:47,900
and it's something everyone needs to consider

1071
00:35:47,900 --> 00:35:50,700
for themselves are you okay with volatility

1072
00:35:50,700 --> 00:35:52,500
can you handle those UPS and downs

1073
00:35:52,733 --> 00:35:54,800
or do you want something more predictable

1074
00:35:55,000 --> 00:35:56,833
it's about knowing your own risk tolerance right

1075
00:35:56,900 --> 00:35:58,866
absolutely and remember

1076
00:35:58,866 --> 00:36:00,900
Bitcoin's more than just something to trade

1077
00:36:00,900 --> 00:36:03,033
it's a technology a network

1078
00:36:03,066 --> 00:36:05,366
a movement with the potential to make a real

1079
00:36:05,366 --> 00:36:06,400
difference in the world

1080
00:36:06,400 --> 00:36:08,666
we've talked about how it could democratize finance

1081
00:36:08,666 --> 00:36:11,833
empower individuals and promote financial inclusion

1082
00:36:12,200 --> 00:36:14,333
but what are some other ways it could have a positive

1083
00:36:14,333 --> 00:36:15,466
impact well

1084
00:36:15,466 --> 00:36:18,066
one area that's really interesting is remittances

1085
00:36:18,366 --> 00:36:18,666
you know

1086
00:36:18,666 --> 00:36:21,400
when people send money to family and friends in

1087
00:36:21,400 --> 00:36:23,766
other countries especially developing countries

1088
00:36:23,900 --> 00:36:27,000
traditional services can be really expensive and slow

1089
00:36:27,166 --> 00:36:29,100
bitcoin offers a much faster

1090
00:36:29,100 --> 00:36:29,600
cheaper

1091
00:36:29,600 --> 00:36:32,966
and more transparent way to send money across borders

1092
00:36:32,966 --> 00:36:35,600
that could be huge for people who rely on remittances

1093
00:36:35,600 --> 00:36:37,600
absolutely and then

1094
00:36:37,600 --> 00:36:39,766
there's Bitcoin's potential to disrupt

1095
00:36:39,766 --> 00:36:41,466
the traditional banking system

1096
00:36:41,466 --> 00:36:44,066
which can be unfair and even predatory

1097
00:36:44,066 --> 00:36:45,600
especially for certain communities

1098
00:36:45,600 --> 00:36:48,500
bitcoin could give people access to financial services

1099
00:36:48,500 --> 00:36:50,066
outside that system

1100
00:36:50,100 --> 00:36:52,066
empowering those who have been left out

1101
00:36:52,200 --> 00:36:54,400
it's like giving people the tools to build their own

1102
00:36:54,400 --> 00:36:55,466
financial futures

1103
00:36:55,466 --> 00:36:57,733
without being limited by the traditional system

1104
00:36:57,733 --> 00:36:58,966
that's the idea

1105
00:36:59,100 --> 00:37:01,300
and it's inspiring a lot of people around the world

1106
00:37:01,733 --> 00:37:04,466
now we've been pretty optimistic about bitcoin's future

1107
00:37:04,466 --> 00:37:05,366
and we should acknowledge that

1108
00:37:05,366 --> 00:37:07,266
there are definitely challenges ahead

1109
00:37:07,300 --> 00:37:08,800
we talked about regulations

1110
00:37:08,800 --> 00:37:11,000
tech risks market manipulation

1111
00:37:11,133 --> 00:37:11,766
but what do you see

1112
00:37:11,766 --> 00:37:14,866
is the biggest threat to bitcoin's long term success

1113
00:37:14,866 --> 00:37:16,700
hmm that's a tough one

1114
00:37:16,700 --> 00:37:17,933
what worries you the most

1115
00:37:17,933 --> 00:37:20,033
I think the biggest danger is complacency

1116
00:37:20,466 --> 00:37:23,033
it's easy to get caught up in the hype and excitement

1117
00:37:23,300 --> 00:37:24,333
but we can't forget that

1118
00:37:24,333 --> 00:37:26,266
Bitcoin is still relatively new

1119
00:37:26,266 --> 00:37:27,933
and it's constantly changing

1120
00:37:27,933 --> 00:37:30,033
we can't just assume it'll succeed

1121
00:37:30,266 --> 00:37:31,766
we need to keep innovating

1122
00:37:31,766 --> 00:37:32,666
adapting

1123
00:37:32,666 --> 00:37:35,566
and overcoming challenges to reach its full potential

1124
00:37:35,566 --> 00:37:37,066
so no resting on our laurels

1125
00:37:37,066 --> 00:37:40,366
exactly and it's about building a strong community too

1126
00:37:40,366 --> 00:37:43,166
one of the most amazing things about Bitcoin is

1127
00:37:43,266 --> 00:37:45,500
the people involved developers

1128
00:37:45,500 --> 00:37:46,966
entrepreneurs investors

1129
00:37:46,966 --> 00:37:48,933
enthusiasts from all over the world

1130
00:37:48,933 --> 00:37:51,300
they're all passionate about Bitcoin's potential

1131
00:37:51,600 --> 00:37:52,966
and it's this community that will

1132
00:37:52,966 --> 00:37:54,600
ultimately determine its fate

1133
00:37:54,600 --> 00:37:56,700
it's a collective effort a shared journey

1134
00:37:56,700 --> 00:37:58,066
absolutely and it's a journey

1135
00:37:58,066 --> 00:38:00,300
I'm incredibly excited to be a part of

1136
00:38:00,300 --> 00:38:02,200
you've given us a lot to think about today

1137
00:38:02,466 --> 00:38:04,900
uh it's clear that Bitcoin is much more than just a

1138
00:38:04,900 --> 00:38:07,133
digital currency it's a movement

1139
00:38:07,133 --> 00:38:09,100
a technology a force for change

1140
00:38:09,100 --> 00:38:10,933
it's been great exploring all this with you

1141
00:38:10,933 --> 00:38:12,733
I hope our listeners have Learned something new

1142
00:38:12,733 --> 00:38:13,900
and are excited to keep

1143
00:38:13,900 --> 00:38:15,600
learning about the world of Bitcoin

1144
00:38:15,766 --> 00:38:18,300
and remember the best way to learn is to stay curious

1145
00:38:18,300 --> 00:38:20,766
ask questions and never stop exploring

1146
00:38:21,266 --> 00:38:23,000
thanks for listening and until next time

1147
00:38:23,000 --> 00:38:23,933
happy researching