The Bitcoin Bull Market w/ David Puell - Bitcoin Magazine Podcast

This week for the “Bitcoin Magazine Podcast,” host Christian Keroles was joined by Bitcoin Magazine researcher Dylan LeClair and pioneer on-chain analyst David Puell.

As Bitcoin leads the way for cryptocurrency adoption and acceptance, market participants are starting to embellish in massive pump and dump activities around alternative coins. This portion of a bitcoin bull market is often referred to as “Alt Season,” and Puell set appropriate expectations around how bitcoiners should see things play out in this bull market. Puell also broke down his scenarios for this bull market.

The group transitioned the topic to trading, and which on-chain and macro indicators Puell uses to gain alpha. Lastly, they closed out with conversation around a super cycle and Bitcoin’s role in the future of finance.

Questions discussed include:

Why are shitcoin outperforming so much in 2021?
Is the bull market ending early?
What is the current state of the bitcoin market on chain?
What is the effect of the derivatives and futures markets in the market structure of bitcoin?
Is an increasing amount of liquidity attempting to arbitrage the contango trade up against the global fiat credit markets?
Can the contango yields be thought of as a “time value of money,” of sorts?
Do you expect volatility to significantly decrease in the coming years?

Follow David Puell: @kenoshaking
Follow Dylan LeClair: @BTCization
Follow ck: @ck_SNARKs

Timestamps:

0:00 - 4:40 Intro
4:40 - 6:59 Introduction to David
6:59 - 12:26 David's assessment of the current bitcoin market
12:26 - 14:22 How much does 2021 resemble 2017?
14:22 - 18:59 The effect of having a developed derivatives and futures market for bitcoin
18:59 - 19:31 David's knowledge of bitcoin's chart history
19:31 - 23:28 Are derivatives and futures markets effecting spot volume?
23:28 - 25:16 Indicating the top by alt-coin activity
25:16 - 27:05 The Bitcoin narrative/bitcoin speculation
27:05 - 29:14 The supercycle theory
29:14 - 30:12 The possibility of a supercycle from a technical perspective
30:12 - 34:16 Timing the top
34:16 - 35:59 Alt-coins being supported by new money/all roads lead to bitcoin
35:59 - 39:48 The lag in hashrate
39:48 - 41:37 Is the halving less significant now?
41:37 - 43:42 The stock-to-flow model
43:42 - 48:05 Indicators that David finds tradeable
48:05 - 53:10 What does David expect with the contango yields if volatility spikes?
53:10 - 56:57 How could someone have a risk-free yield?
56:57 - 58:53 David's thoughts on price
58:53 - 1:02:02 Closing comments

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