00:00We keep dipping below $82,000. It's obviously been a rocky ride for Bitcoin. What's behind it? At least last time we knew there were some scandals that rocked the world. What's rocking it this time? This time what we're hearing that it is mostly kind of a risk off attitude from institutional and retail investors when things start to get rocky elsewhere. If you look at stocks or particularly in AI this week and big tech stocks. Bitcoin is one of those first things that kind of acts as a bellwether to go because it's such a
00:29risky area that a lot of those more risk minded investors will lay that off. That is probably contributing. But also this has been a pretty bad few months for Bitcoin. It started
00:39tumbling in early October when we had a major liquidation event. Then about 19 billion was wiped off in liquidations at that point. And we've lost quite a lot of the ground that was made this year.
00:49In fact almost all of it so far. So definitely that is worsening the situation as well. And I really just have to point out a note that Paul Donovan just sent in of UBS.
00:59He says that this is hyperinflation because we annualize Bitcoin's recent spending power collapse. That would be equivalent to roughly 800 percent inflation.
01:08So that gives us an idea just in terms of context. Just what kind of a collapse this has been. Now on the other side of the coin we have Tom Lee of Fundstrat.
01:17He sees Bitcoin as high as two hundred thousand dollars by the end of January. I mean I guess anything is possible Emily is it?
01:24I mean it's definitely a bit of you know depends on who you ask because we're kind of deciding now you know have we entered bear market territory or not.
01:33It's definitely been a rough few months for Bitcoin and that kind of signals that maybe we've hit that wall and the bull period that we'd had over the last two years with Trump coming into the White House is starting to peter out.
01:43On the other hand though there's a lot more institutional players now than ever before Tom Lee being one of them.
01:48He's also kind of part of one of those digital asset treasury strategy companies that focus on Ether as well.
01:54So with that in mind there is always that kind of bulk buying power that lays underneath that might stop these things from going too far down and could push things back up again if there's enough sentiment there.
02:04Oh Joan.
02:15I am going to get away from the cashier.
02:17It's a bit of a more and that first question because I do not know some of both things that sometimes use it to stores.
02:23So with that, you're going to get there and understand that in Chargeex on if you're going to get there.
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