#Bitcoin & #Altcoin Trading Talk 31

## Bitcoin & Altcoin Trading Talk 31: Episode Summary

This episode of Coinagy's "Bitcoin & Altcoin Trading Talk" featured a lively discussion with hosts William Kale and Rob Borden, alongside guests Brian Behmish ("The Irrational Investor"), Alex Sturk (Block Talk), and Jordy "Not So Fast, Crypto." The conversation centered around current market conditions, trading strategies, and the evolving landscape of the cryptocurrency space, with a generally bullish outlook. The episode highlighted the increasing decoupling of altcoins from Bitcoin, a significant shift indicating a maturing market. The hosts emphasized the importance of sticking to pre-defined trading plans, even amidst rapid price fluctuations and the often-unpredictable nature of the market. They also touched on the potential for significant future growth, fueled by Bitcoin's limited supply and the influx of new participants.

The discussion began with a technical demonstration of a Node.js trading bot built using the Coinagy API, showcasing features like exchange listing, WebSocket feeds, and private API access. The price of Bitcoin was initially around $720, quickly rising to $730 during the episode, with predictions of it potentially reaching $800. A key observation was the growing market capitalization of the entire cryptocurrency space, now rivaling the market cap of some of the world's largest companies. The hosts expressed a desire to own a piece of everything in the crypto space, favoring a portfolio of coins with rising prices over constant coin issuance. Later, the conversation shifted to trading strategies, including the use of harmonic patterns and a bot designed to capitalize on consolidation periods, alongside a cautionary note about the exuberance of newer traders and the inevitability of market corrections following the upcoming Bitcoin halving event.

Main Topics Discussed:

• Bitcoin Price Action & Potential: Discussion of current price ($720-$730), potential for further increases, and the influence of limited supply.
• Altcoin Decoupling: Significant performance of altcoins independent of Bitcoin's price movements.
• Trading Strategies: Emphasis on following pre-defined plans, utilizing trading bots, and employing harmonic pattern analysis.
• Market Cap Growth: Comparison of the cryptocurrency market cap to the S&P 500 and its ranking among the world's largest companies.
• Market Sentiment & Risk: Concerns about the exuberance of newer traders and the potential for market corrections.
• Technical Updates: Demonstration of a Coinagy API trading bot and discussion of data sources (GDACS, Bitstamp).
• Upcoming Bitcoin Halving: Prediction of a pullback following the halving event.

Key Quotes:

• William: "We've actually built up a bit of demand here. I'm really proud of you guys."
• Brian: "It's remarkable to see how often people's markets often will go much further, much faster for much longer than anyone expects."
• "Bitcoin can do whatever it wants as long as I'm prepared for it."
• "I want to own everything, a little piece of everything."

People Mentioned:

• William Kale: Host, Coinagy.com
• Rob Borden: Host, Coinagy
• Brian Behmish: Guest, "The Irrational Investor"
• Alex Sturk: Guest, Block Talk
• Jordy: Guest, "Not So Fast, Crypto"
• Tenderman: Interviewed by Jordy
• Host (Trader): Described as age 36.9 on GDACs
• "Not so fast": Participant who commented on previous tweets.
• Terry: Mentioned in relation to a successful trade.
• Robin: Participant who uses Coinbase (GDACs)

Bitcoin Price Mentioned:

• $720 (Initial price)
• $730 (Price during discussion)
• $800 (Potential short zone)