 So hi everyone, I'm Molly Jane and in today's video we are talking about Bitcoin's price this week from its meteoric rise during the past weekend to the beginning of the week when it passed $8,000 and even reached $8,200 to today's fall back towards $7,000. Here with us are Eric Finman, Naeem Aslam and Anthony Pompliano. And my first question is to you Naeem. Despite today's correction, do you think the crypto winter is over and what should investors be doing right now? What I can say is that perhaps spring is here and crypto winter has ended and the reason that I'm saying is because we have touched a critical level of $8,000 and this is going to open the door towards $10,000 and perhaps more but what I really like to see the price to do is to consolidate from here onwards with the base of a $5,000 as a support level and then price to consolidate between $10,000 to $5,000. So if we kind of establish that consolidation mode because what we don't want to see is a huge amount of volatility which we have experienced in the last few weeks. So in terms of Bitcoin's price spiking, do you think that this was due to any one set of thing or set of circumstances or even possibly market manipulation or do you think that it was just a naturally occurring phenomenon? So many people can say pinpoints several different things, whether they were market rumors in the market or whether it was a consensus effect. I'm talking about consensus. I'm going to write an article in a few days on Forbes and the title of the article is going to be More Suits, Less Costumes. So that means more enterprises have entered into this space. Real projects are coming into the space to resolve the custody problem, the liquidity problem. The real examples are coming in. Companies like Deloitte, IBM, Tata Consultancy. We have seen the huge dominance in the consensus event. So that is one aspect. Number two is the momentum was already there. The fundamentals have started to change. When I'm speaking of fundamentals, I'm talking about more positive news coming out from a major enterprises coming and adopting the blockchain technology. And if they're adopting the blockchain technology, it doesn't have a direct impact to Bitcoin, but it does have, it gives a tailwind effect to Bitcoin price. And I think that is where we are moving in. That's what's driving the prices higher. Okay, so Eric, you once claimed that Bitcoin was dead. And we actually discussed this with you last December when Bitcoin was falling to 3k. But this week, we saw Bitcoin rise to 8k again. So do you still think that Bitcoin is dead? Like I said before in that original article where I said Bitcoin is dead. I think the original article said Bitcoin is long-term dead. So I'd say that's the most accurate thing where I'd say Bitcoin, if they don't solve, they have their scalability problems and there's all fragmentation. And then again, the most important thing I think is the easy on ramp. So yeah, Bitcoin as a community, it doesn't fix those problems. I still agree with that statement that Bitcoin is long-term dead. And I don't really see anybody on the outside that is, I feel like maybe on scalability, but there's still the in-fighting and I think the easy on-ramp work on those problems. So yeah, if those problems don't get fixed, I still believe Bitcoin is long-term dead. Do you think that we're entering another bull run? Or will the price go back down and just stagnate there? I think if not now, I think at some point, and I've said this before, I think Bitcoin will have at least one more bull run. I think it'll beat all-time highs at least one more time. And maybe that's not now, but I think it'll be at some point. But yeah, I mean, I've said in the past, I think Bitcoin has a lot of long-term problems that I think need to be addressed. And I think if not, you know, if they're not addressed now, you know, then I think it's kind of long-term dead. But I do think that it'll have, like I think it'll have one more big swing at least before it kind of disappears. We're seeing this market correction today. What do you think has caused it? Yeah, so we definitely know what caused the market correction. There was a algorithmically driven trade about, I think it's 3,400, 3,600 Bitcoin that was done on Bitstamp last night and essentially ate through the order book. And so if you think about this market's infrastructure is still early. It's still somewhat untested. And so whenever somebody's issuing these orders via an API, there's a lot of technology between the person who's issuing the order and the actual order book. And it looks like there were some errors there which caused it to eat through the order book very quickly. But I think that ultimately, you know, this won't matter in the grand scheme of things and, you know, kind of it'll be forgotten after a week or so. But it's kind of interesting. I've read online that some people are saying that maybe a trader accidentally put in an order to sell Bitcoin at 6,200 instead of 8,200. And now it's left what seems to be permanent market damage. Yeah, so definitely it's possible. It's a little hard to understand, you know, somebody is selling like that. Where exactly are they? What's their intentions? Right? Are they trying to sell 8,200? Do they finger it? Are they trying to manipulate the market? Right? Do they understand enough of the market to know that if they do this, it'll drag the price down? I don't think that we really know. But what we do know is kind of what happened. And the big question is why? I tend to spend less time worried about the why and just, okay, now that we understand what happened, let's move forward and kind of forget about it. So what do you think investors should do now in this situation? Nothing different. You know, look, I look at Bitcoin as it's a non-correlated, asymmetric return asset. I think that every investor should have exposure to it. The size in their portfolio is dependent on the situation. But I don't think that kind of the day-to-day price movements are really going to change the investment thesis or the investment case. And so if you liked Bitcoin at 3,000 and you liked it at 8,000, then you probably should like it anywhere in between. I don't think there really should be any change to investors' sentiment here. So do you think that this correction that's happening right now then is serious? Not at all. I think that this is natural thing, right? I remember Bitcoin was up 120% on the year, right? So it had this parabolic move from, I think it started the year around $3,700 on January 1st. It moved all the way up to over $8,000. So it's up 120%. To have a 10% to 15% drawdown should be expected, right? Things don't go up into the right forever. And so again, it's just not that big of a deal. And even if it drew down further, I still wouldn't be worried, right? So if we saw it go down to kind of $6,000 or $5,500, I don't think it's cause for concern. So my last question has to do with the volatility. Do you think that this is Bitcoin entering a period of more volatility again? Or do you think like you said it's going to correct down and then even out? What are your thoughts on the volatility question? Look, 120% on the upside in four or five months and that parabolic move, that's nice volatility as well, right? We just don't, we forget exactly the volatility when it's going in the direction of those that are long. But volatility goes both ways, right? So you can see volatility on the upside and volatility on the downside. Bitcoin is a volatile asset, right? But that also means that it's asymmetric. So in order to have large gains, you need volatility, right? It's not possible for something to stay stable and then you too make a lot of money by going up or down in value or losing a lot of money. So that volatility, I don't see that as a negative, right? In kind of 2000 to 2005 and even into the late 90s, people were talking about the volatility of technology stocks, right? Just the idea that, oh, the technology stocks are super volatile. Well, those led to some of the best returning stocks. And so I think that volatility is not necessarily a bad thing, especially if the volatility continues to set higher lows every year and it moves over a long period of time and you have a low time preference. So I think a lot of people in Bitcoin, other than the traders, they're looking at this as a long-term investment and they're realizing that it has certain characteristics or qualities that other assets don't have. And so the volatility is positive. We were here today with Eric Finman, known as a teenage Bitcoin millionaire, Naim Aslam, Chief Markets Officer at ThinkMarkets and Anthony Pompliano, CEO at Morgan Creek Digital. On Monday, we're going to be doing a markets video with Maddie Greenspan. If you want us to ask him some specific questions, post them in the comments and we will ask Maddie ourselves. This episode is sponsored by Trade Santa. Trade Santa is a cloud-based trading bot. Set it up in less than two minutes, trade multiple pairs, choose between long and short strategies, use tech analysis indicators and see your results in real time. Trade Santa works 24-7 to get you the profit you set. The platform is already integrated with Binance, BitTracks, Bitfinex and HitBTC. 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