Dan Nathan Runs Through What Bitcoin Needs to Make a Comeback

Bullish Studio

It has been a cruel summer for crypto.  Is bitcoin going to be stuck in a cold, long winter?   Dan comments on how risk assets have not performed well in this environment.   Dan says it will take a Fed pivot for Bitcoin to get going again and that he doesn't see that coming in 2022.

Transcript

00:00 Cruel summer for Bitcoin prices falling to their lowest level since mid-june today at one point dropping below

00:05 $19,000 the total market cap for all crypto fell back below a trillion dollars

00:10 So as we prepare for fall is Bitcoin going to be stuck in this cold long

00:14 Winter Dan, what do you think?

00:17 Well, it feels like it, you know, Tim just mentioned something that long-duration

00:23 Profitable risk assets have not performed well in this environment and that clearly is the case for Bitcoin and aetherium

00:30 And I'll just say this, you know with Bitcoin at less than 400 billion

00:33 It's trading like Facebook's trading for all intents and purposes. So how does the narrative change aetherium?

00:39 We know that they have this merge coming later this month. That should be somewhat of a catalyst, but I'll just say this

00:45 You know, the Bitcoin dominance of this space is at its lowest levels in a very long time

00:50 I just don't think that bodes very well guys been saying it it's gonna take a Fed pivot for Bitcoin to get going

00:56 I don't think that's coming in 2022

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