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## Cryptocurrency Podcast Episode #38: Bitcoin & Altcoin Trading Talk - Summary
1. Narrative Summary:
This episode of "Bitcoin & Altcoin Trading Talk" (Episode 38, marking roughly a year and a half of podcasting) dives deep into the current state of the cryptocurrency market, exploring both technical analysis and emerging trends. The hosts, William Keele, Rob Borden, and Brian Beamish, began with apologies for initial technical difficulties and quickly transitioned into a discussion surrounding Ethereum’s stability and the impact of events like DevCon 2 in Shanghai. The conversation then broadened to cover a range of topics, from the surprising influx of crypto enthusiasts moving to China to the emergence of new projects like Auger and Zero Cash, with futures contracts already trading on Bitmax. A significant portion of the episode was dedicated to analyzing market charts, identifying patterns like double bottoms and "W" formations, and discussing the contrasting behavior of institutional and public investors. The hosts cautioned listeners about the risks associated with chasing hype around new coins, drawing parallels to Bitcoin’s early days and warning of potential market corrections. Finally, they addressed a technical bug affecting Mac OS X users and touched upon the concept of seasonality in crypto markets.
2. Main Topics Discussed:
- Ethereum & DevCon 2: Discussion on Ethereum's stability and the potential impact of DevCon 2.
- Emerging Projects: Auger, Zero Cash (futures contracts trading at ~$50 on Bitmax), and Manero.
- Geographic Trends: The movement of crypto industry professionals to China.
- Technical Analysis: Chart patterns (double bottoms, "W" patterns), resistance levels, MACD histogram, and divergence.
- Institutional vs. Public Trading: Contrasting investment strategies.
- Trading Strategies: Risk-reward ratio (minimum 2:1), identifying support levels.
- Market Seasonality: Recognizing unfavorable timing for aggressive investment.
- Whale Activity: Observing the influence of large investors on market lows.
- New Coin Hype: Cautionary discussion around the launch of a new coin (likely Zcash) and potential for a market correction.
- Technical Issues: A Chrome bug affecting Mac OS X users.
3. Key Quotes:
- William Keele: "Go in deep, baby." (Encouraging exploration and investment)
- William Keele: "The absolute best thing that could happen for Ethereum is just get out of the spotlight." (Highlighting the need for reduced public attention)
- "If I gave you my Bitcoin address…you'll be able to see exactly how much like money I have in my savings account." (Illustrating the lack of privacy with Bitcoin)
- "If I'm right only 50% of the time, I'm wrong. Half the time of my trading, I'm still a scratch trader." (Explaining the importance of a strong risk-reward ratio)
4. People Mentioned:
- William Keele (Coenigy.com, Host)
- Rob Borden (Coenigy, Host)
- Brian Beamish (Catch and All Investor, Host)
- Alex (Mentioned in relation to student attendance at DevCon)
- Brian (Listener/Participant)
- Site People (Coinage development team)
5. Bitcoin/Cryptocurrency Prices Mentioned:
- Ethereum (price not specified, but discussed in terms of stabilization)
- Zero Cash (futures contract trading at approximately $50 on Bitmax)