Podcast Summary
In this episode, hosts Shane August and Richard Hodgeson discuss the recent volatility in Bitcoin’s price, the correlation between Bitcoin and the S&P, and their trading strategies. They also provide an update on their synthetic mining account and anticipate Bitcoin’s future price movements. The hosts briefly touch on the political situation in New Caledonia and the rising prices at McDonald’s.
Key Takeaways
Bitcoin’s Volatility and Trading Strategies
- Bitcoin’s Price Movements: The hosts discuss the recent volatility in Bitcoin’s price, with significant liquidations and big movements. They anticipate a potential range of 68.5 to 71 if Bitcoin breaks above current resistance levels.
- Trading Strategies: The hosts share their trading strategies, which include using support and resistance levels and basic EMAs for analysis. They emphasize the importance of not mismanaging trades and the regret that often comes with not leaving things alone.
Synthetic Mining Account and Bitcoin’s Correlation with the S&P
- Synthetic Mining Account: The hosts provide an update on their synthetic mining account, which has seen a 25% increase in Bitcoin over 11 weeks.
- Bitcoin and S&P Correlation: The hosts discuss the correlation between Bitcoin and the S&P and the potential impact of the stock market on Bitcoin’s price.
Political Situation in New Caledonia and Rising Prices at McDonald’s
- Political Situation in New Caledonia: The hosts briefly discuss the political situation in New Caledonia and express their interest in visiting the South Pacific region.
- Rising Prices at McDonald’s: The hosts mention the recent increase in the price of coffee and its exclusion from the CPI measure, as well as the rising prices at McDonald’s.
Sentiment Analysis
- Bullish: The hosts express a bullish sentiment towards Bitcoin, as evidenced by their anticipation of Bitcoin’s price breaking above current resistance levels and their satisfaction with the 25% increase in Bitcoin in their synthetic mining account over 11 weeks.
- Bearish: The hosts express a bearish sentiment towards the current economic reports, referring to them as sources of volatility rather than reliable indicators. They also express skepticism about the market’s current valuation.
- Neutral: The hosts maintain a neutral stance on the political situation in New Caledonia, expressing interest in visiting the region but not providing any specific predictions or analyses.
