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I’ve not seen sentiment in crypto turn this bullish since 2017.
I mean, this CNBC clip was surreal.
As my co-founder Dan pointed out, in just 99 seconds, ALL FIVE CNBC Fast Money contributors hit on every single major macro bitcoin bull narrative:
-Weak hands are out of the market
-Institutional infrastructure has been built and is picking up steam
-Central banks are going nuts – bull case for bitcoin
-Gold is rallying, why shouldn’t digital gold in BTC?
-Is this acting as a safe haven?
-Are Chinese buying because of Coronavirus?
-As central banks rush to devalue their currencies, bitcoin wins
-“In world of fiat currencies, bitcoin is the victor.”
And BK wasn’t even on set!
It was surreal. It is surreal. Seriously, watch the clip if you haven’t already.
It makes you think: will 2020 actually, finally be the mainstream bitcoin (and thus, crypto) moment?
Well, at the risk of being the turd in the punch bowl (I prefer to think of myself as a governor on a golf cart), let me share the two major risks that have me most worried right now. They’re ones I believe may be under-appreciated by the broader market, but aren’t yet severe enough to crimp demand or momentum.
Many of you have written back with positive responses to my coverage of the Wuhan coronavirus this week, now called COVID-19 by the medical community.
I fear, though, that an equally large number may be quietly frustrated by the “non-crypto” focus or think the write-ups this past week have been alarmist or distracting from “real”