BITCOIN - MORE BULLISH THAN EVER

Market Overview

The speaker, Sam, is extremely bullish on Bitcoin, considering it undervalued at $100,000. He mentions the government's recent actions, such as reducing the number of lawyers focusing on crypto, as a positive sign.

Recent Developments

• The SEC is reducing its efforts to sue crypto companies, which Sam sees as a bullish indicator.
• FTX repayments are expected to start in mid-February, which could bring billions of dollars back into the market.
• The government is setting up committees and subcommittees to look at crypto regulation, including a strategic Bitcoin Reserve.

Market Sentiment

Sam notes that many people are bearish on crypto, but he believes this is due to a focus on short-term gains rather than long-term potential. He thinks that as the price of Bitcoin rises, people will become more bullish.

Trading Advice

• Sam recommends buying assets that you strongly believe in and are excited to hold, even if the price falls.
• He suggests that dollar-cost averaging into Bitcoin can be a successful strategy, even for those who are not actively trading.
• Sam emphasizes the importance of approaching trading from a position of strength and understanding how trading works.

Upcoming Events

• Unemployment data is expected to be released in the next few days, which could bring volatility to the market.
• Sam expects Bitcoin to move up and potentially not come back down to current levels for a long time.