In his latest video, Ivan on Tech delves into the intricacies of the current Bitcoin market dynamics. The CoinSpeech team has gathered the most important insights from his recent discussion. You can find Ivan on Tech’s new video below.
Bitcoin’s “Fugazi Dump”
Ivan emphasized that the recent Bitcoin price dump is a “fugazi” – a fake, temporary decline. He noted the intensity of the recent drop, saying, “We went all the way to 66, and people were freaking out.” Ivan attributes these volatile swings to pre-meeting jitters before significant events like the Federal Open Market Committee (FOMC) and inflation reports. These swings, according to Ivan, often normalize or even reverse after such meetings.
The Roomba Metaphor
Amusingly, Ivan compared the incoming buyers to a Roomba vacuum cleaner, explaining, “The buyers are coming, it’s like Roomba. Eventually, it will find the trash.” This metaphor highlights the buyers’ inevitable re-entry to the market despite current uncertainties.
Post-Halving Trends
Reflecting on Bitcoin’s historical behavior post-halving, Ivan stated, “Normally it takes approximately 100 days, 90 to 100 days before we do see the price appreciation after the halving.” It’s only been six weeks since the last halving, suggesting that significant gains might still be on the horizon.
Trump’s Support for Bitcoin
Ivan also touched on political developments, particularly Donald Trump’s recent endorsement of Bitcoin. Trump tweeted that Bitcoin might be crucial in the fight against central bank digital currencies (CBDCs), implying, “Bitcoin mining may be our last line of defense against a CBDC.” Ivan welcomed this as a positive shift in political support for Bitcoin.
Democrats and Crypto Regulation
Addressing the regulatory landscape, Ivan noted ongoing challenges with the Democratic stance on crypto, describing it as “anti-crypto.” He highlighted multiple issues including investigations into legitimate companies like Coinbase, stating, “All legit companies are under attack which is a big problem.” Ivan expressed hope that these stances might change in the coming months.
The Role of Crypto Media
On spreading the crypto message, Ivan underscored the importance of independent media, asserting, “We have to really highlight who is pro-Bitcoin and support them and spread the word. Because if we don’t do it, no one else will.”
The Coming Old Season
Ivan outlined the path to the next altcoin season, segmented into stages that start with a Bitcoin breakout, followed by Ethereum and Solana, then large caps, and finally, smaller altcoins. He illustrated this cycle with the sentiment shift seen in Babydoge Coin, highlighting how quickly market moods can shift in crypto.
Axelar’s Future Potential
Ivan also lauded Axelar, a blockchain interoperability solution, for their recent collaboration with financial giants for real-world asset tokenization. He posited, “What Axelar is likely to do is take the place from Chainlink as this connector of TradFi to crypto.”
Deepin and IoT Blockchains
Ivan touched on IoT and Deepin (Decentralized Physical Infrastructure Networks), mentioning platforms like IoTex. He emphasized that Solana plays a significant role in supporting many of these projects, which incentivize real-world activities using crypto.
Reflections on Market Sentiment
Concluding the video, Ivan urged viewers to stay resilient amidst the current bearish sentiment, reminding them how “Bitcoin is literally not even at a proper all-time high” and yet market sentiment remains overwhelmingly negative.