Avenger Call – 05 Mar 24


00:14: Bitcoin reached $69k ATH but corrected shortly after. Discussion of past predictions of Bitcoin failing and need for healthy pullbacks.
14:00: Record high open interest preceding correction and past correlations. Suggestion that correction was needed to relieve pressure.
19:00: Typical crypto market behavior over 4-year cycles including impact of halvings on Bitcoin dominance and price. Clarification that Bitcoin price typically rises after halvings.
22:55: Current Bitcoin market cap of $1.2 trillion and percentage held by ETFs of around 4%
24:00: The SEC delayed decisions on Ethereum ETFs and importance of the upcoming May deadline. Mention of new UK laws expanding powers to seize crypto from centralized exchanges.
29:00: Review of price action and opportunities in coins like DOT, CSPR, and BTT. Intention to address previously asked questions later in the call.
50:24: Past Bitcoin price increases of 10x, 5x and 5x within a year after the 1st, 2nd and 3rd halvings respectively.
50:35: Potential Bitcoin price targets of $300k-$350k discussed if another 5x price increase occurs after the upcoming halving in April 2025.
53:23: The number of days (18 days and 84 days) it took Bitcoin to double past previous all-time highs in December 2020 and March 2017 respectively.
01:12:26: Recent bitcoin price drop from $70k to $59k and analysis of support levels around $50k.
01:14:01: Breakdown of top portfolio holdings including Polkadot, Bitcoin, Ethereum and others.
01:14:17: Request to review VR/AR crypto project Crypto VR but speaker wants more time to research first.
01:18:55: Evidence and concerns that the cycle peak may have already occurred in April 2021, shifting the expected peak to an earlier date
01:20:17: Further analysis of bitcoin price chart, identifying fibonacci retracement levels and support areas.
01:21:21: Agreement to further review Crypto VR project next week after more research.
01:28:55: ETF daily buying exceeds new minted Bitcoin and examines reports of exchanges running low on supply
01:34:55: Charts historical price performance in the year before previous halvings, demonstrating runs are a regular occurrence

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