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So Bitcoin now is down about 30% compared to its yearly highs. But Willy Woo, who's a prominent crypto blogger, tweeted that the drop in price means that this is actually the end of phase one of the bull market, which is driven by FOMO. And now we're going to see a more stable phase two, which is what's going to bring us to $20,000. So do you agree with Willy Woo's analysis? Well, I certainly hope so. I mean, right? That is the wishful thinking. I mean, you can see this, this was a rather nasty drop. It's almost 4% in the span of about 20 minutes, 30 minutes. What was great is that the recovery came even quicker than the drop, right? So that we had that sell-off and then price bounced back. At the moment, we're about where we were before that sell-off happened. What I'd like to do though, because this is like really short-term price action, is we really need to kind of zoom out and show where does this put us as far as the long-term trend is concerned. And at the moment, we're really giving a good test of that $9000 psychological support level. I do believe that when we have a support level building up like that, there's a fairly good chance that we might just step below it, shake out the last few weak hands. I've been hearing a lot on group chats that I'm part of and on social media that people are looking to acquire around $8,500. So that's basically there, you know, the target buy level. So in that case, if that is the case, then we still could see a little bit more on the downside. Of course, I'd be more than happy to see that last night's flash crash indicated the end of it, and we can continue on up from here. Yeah, I hope so too. So my next question has to do also with Bitcoin. So according to data from Coinmetrics, about 3.8 million Bitcoin hasn't moved since 2014, which is the highest amount of unmoved Bitcoin in a five-year period. And so the researchers themselves interpreted that this is a sign that Bitcoin is increasingly becoming a store of value, which is why it's not being moved, which could be a positive sign. The other side is that this large quantity of Bitcoin that hasn't been moved means that people are not really using it, and therefore real-life adoption is lagging. So which side of the issue would you fall on? So by nature, I would assume that that metric is designed to rise over time. And I think that that 3.8 million just gives us a good benchmark figure for how much of the current supply is on the side. So we have approximately 17 million that have been minted so far. So if you take out those 3.8 million, you start to notice the extremely low liquidity of Bitcoin, the limited supply, which is what gives Bitcoin its value. So overall, I think that hodling doesn't necessarily mean lower adoption rates, but actually they're one in the same. When people take some of that supply off the market, they are using it. They're using it for its intended purpose as a store of value. Yeah, that makes sense to me. Actually, everything's about Bitcoin, it seems, this week almost. The next question. It's all about the Bitcoin. I mean, it honestly is. This has to do with the Bank of China, which is among the biggest state-owned banks in all of China, releasing infographics on its website explaining what Bitcoin is, how it works, and if it's valuable. It's also been reported that China might be planning to launch its own cryptocurrency that would be a competitor to Libra. So do you think that these two things, the rumor and then the infographic, are signs that China is more open to cryptocurrency than before? Yeah, I mean, and also we had about a week ago some news where one of a court in China had upheld Bitcoin as an asset, meaning that it was protecting somebody's property rights and saying that Bitcoin was property. So I think that overall, I mean, China never really, I mean, there's a misconception that China has banned Bitcoin. It hasn't. What it has banned is ICOs, and then later on, basically, they closed down all the BTC RMB pairs because they were worried about capital flight using Bitcoin. Overall, I mean, the Bank of China, and they've said it themselves, are some of the top researchers on Bitcoin. They've been completely on top of this space since 2014, and they're quite advanced. So I'm looking forward to seeing if this infographic is indeed part of a wider adoption strategy. I think that that would be quite cool. There was a recent report by Crypto Exchange, the San Francisco Open Exchange, FSOX, where they said that Ethereum might not be considered an altcoin anymore. And the report points out that Ethereum shows a much higher correlation with Bitcoin than the rest of the altcoins do, which would make Ethereum, in their words, an asset on its own terms, much like Bitcoin. So do you agree or do you disagree with their findings? So I'm not sure that they're able to really redefine the term altcoin. As far as I know, the term altcoin means specifically any cryptocurrency that's not Bitcoin. So Ethereum definitely falls under that category. Also, what they were saying about the correlation doesn't really make much sense to me, because if there's a higher correlation between an asset and Bitcoin, that would strengthen the case for it being an alternative to Bitcoin. Whereas if it was an asset under its own right, we would see a lower level of correlation. All in all, I think that Ethereum is one of the top altcoins, and it has used cases that Bitcoin simply cannot participate in, such as smart contracts and ICO is a creation of wealth in a democratized way. But to just say all of a sudden out of the blue that it's not an altcoin and that it's a completely different thing, I think that that's taking things out of context. I want to say and tell our audience that you're about to be going on a vacation, if that's right. That's correct. Yeah, so we're going to miss you over here, but we'll see you again in September. Thanks a lot. Yeah, bye Maddie. Bye-bye. While Maddie is on vacation, comment below if you have any suggestions for analysts or traders you'd also like me to speak with.