38 Is the Bitcoin Bottom In? How To Navigate the Bitcoin Market w/ Josh Olszewicz

Bitcoin Bottom Line

In this week’s episode of Bitcoin Bottom Line, hosts C.J. Wilson and Josh Olszewicz are covering the down market and sell pressures.

They begin discussing the crypto bear market, Wilson starts “We are in a bit of a spin right now… What a lot of people want to figure out is how do you find a bottom and what affects the bottom but I think that is maybe in the middle of the conversation, the beginning of the conversation is how connected and interconnected are all of us in this crazy crypto world?’’

They continue on to talk about the stress on miners especially, Olszewicz explains, “I hope people have started to realize the true scale of this stuff as it become more public… they are locking in capital months in advance for something that they don’t get delivered on till months later… not only that but lenders are calling back these loans- not because they are underwater but because they are concerned that not everybody is solvent or able to pay them back.”

Olszewicz continues on to say “There's this perfect storm of factors that miners were not expecting to deal with at the same time.”

Diving more into the current context, Wilson says, “This is the big wake up call for a lot of these guys that have never been through a bear market before…”

Olszewicz talks about the advantages in the liquidity of bitcoin, “If you have bitcoin or a house, the most liquid thing is the bitcoin so you could just go on an exchange that is 24/7, 365, and you could sell it if you need to, and that is certainly what people have done regardless if they think it is risk on, or risk off, if they think it is going to be the future, if they need to sell, because it is liquid you can do that.”

Wilson says, “it’s totally fine to take risk with whatever assets you have, you just have to understand that if someone else can value your assets independently from you valuing them then they are going to if there doing it to protect themselves because the people that are lending money on assets whether it is stocks or anything else, they’re borrowing that money from somebody else too, so they are borrowing it at a cost, so they are screwed if you don’t pay them back.”

They end the episode with “We are going to have many more good days in Bitcoin, we just have to be responsible.”

Listen to the full episode with more!

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