Episode notes
“That cycle has repeated for the good part of the decade, you’ve seen many of these cycles, and we’ve just reloaded, the shotgun has just reloaded with new ammo, and these guys are at peak, and we’re ready for another run.”
— Willy Woo
Location: Remotely
Date: Thursday 28th October
Company: Hypersheet
Role: Co-Founder
In June, with the Bitcoin price in the low $30 thousands following a 50% drop, a number of technical analysts believed the top was in and that we were entering another prolonged bear market. However, the on-chain data told a different story and Willy Woo, amongst others, believed the bull market was still alive.
The past few months have proved the case for the on-chain analysts. In October alone, the price of Bitcoin is up over 40%, and on the 20th, it broke over $66k, a new all-time high.
The launch of the first US Bitcoin futures ETFs was a significant driver of this price rally, with futures ETFs facilitating access to deep pools of capital liquidity and risk-neutral trades.
How will this impact the market, and what can we expect from phase 2 of the bull run?
In this interview, I talk to an on-chain analyst and the co-founder of Hypersheet, Willy Woo. We discuss the impact of Bitcoin ETFs, the next stage of the bull market and the role of toxic maximalism.
This episode’s sponsors:
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Ledger - State of the art Bitcoin hardware wallet
Compass Mining - Bitcoin mining & hosting
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WBD416 - Show Notes
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