The state of Crypto part 2
TradingLife Podcast with Brad JelinekNovember 25, 202400:02:372.43 MB

The state of Crypto part 2

My wife’s phone call interrupted the last part, so this is the rest of it.

[00:00:01] My wife called me right in the middle of that podcast, so I don't know where I left off. So I'm going to just patch this part in and make it end it soon here. So it's just staying curious, noticing that the camps are building. And when the camps build, that means there's fuel for the opposition. So if the price trend is up and there's a huge camp building on both sides, I say we go up more. There's a lot of short fuel in there.

[00:00:22] And I think that that's when it starts to become conventional wisdom that everyone thinks something's going to happen and it gets boring and quiet. That's when it usually is more vulnerable. So that's something I'm keeping an eye on right now. I'm watching the app downloads and stuff, but I don't know if it'll be as easy as 2017. And I'm not trying to get out here and pick a top. But Michael Saylor's a genius. Michael Saylor's an idiot. Well, what if Michael Saylor is both? What if he's a genius and he saw all this coming and he's going to be right?

[00:00:49] But what if he gets really crazy and over leveraged and he blows himself up or has a huge pullback that he causes in Bitcoin, but ultimately it survives? I mean, is that possible? Sure. So, I mean, you don't hear anyone talk about that though. It's just crazy. And it's annoying when I still subscribe to a lot of the stuff, but I just hear this kind of this intellectual wafty shit, all this macro talk about all these indicators. It's like macro is so hard to predict. I mean, there's people way smarter than any of us who have macro information that we'll never know about.

[00:01:18] But, and think about what Warren Buffett collects on his companies for macro. I mean, so we can read and look at these indicators, but all we can do is look at specifics, build our own tools, look at our own stuff, know what works for us, know our personalities, know where we get hurt, have our risk management shored up every time we enter a trade, know when we are doubting ourselves, when we feel like shit or anxious and don't trade, and be aware of what other people are doing.

[00:01:44] So, we're not going to get caught in that extreme thinking. That's all we can do. And the rest of it is just bullshit. It doesn't matter. So, I can't even say this on print because everyone just wants to battle with you.

[00:01:54] So, I don't want to battle with anybody. I just make the most out of my opportunities like you guys do. So, yeah, it's nice that I can talk about it on here. It's a one-way street, but I don't mind.

[00:02:05] And I would love to have comments about stuff, but I don't really give two shits about debating. I like debating, actually, and philosophizing about it. I think it's fun.

[00:02:15] But the angry, you know, it's just wasteful. So, I just see so much of it. And that's the downfall of social media, unfortunately.

[00:02:23] It's such a great tool to connect and to get sentiment and information, so I use it.

[00:02:29] But it brings out the worst lower animal in everybody at times. So, anyways, yeah, that's it for this.