Where Do We Go From Here? | Michael Nadeau

Bankless nation, the big question everyone is asking is where in the heck do we go from here? It's not looking great out there. Crypto is down. Everything else is up. What is happening in this cycle? How long will the pain last? We've got Michael Nadeau on the episode. You guys know we've been doing these episodes on a monthly basis or so, trying to dig into this cycle fundamentals. I wanna find out what Mike's forecast for the rest of the year is. Also, there is a new Fed chair. His name is Kevin Warsh. How does this change things? And stay tuned till the end where, Mike, I'm gonna ask you for your entry price predictions. I know you're not a buyer yet, but you're going to be for Bitcoin, ETH, and Solana. Michael Nado, is this it? Is is this the blood in the streets we've been waiting for? That's a big question, I think, out there right now. We, we recorded an episode last week, and I said that we were sort of in in no man's land. Right? Trading below support around 93 ks or so, above, like, critical support at that 80 ks line. And, last Friday, we we ended up breaking down from from 80 and we've dropped about, you know, 15% or so from from 90 k last week. And I think that's the big question. There is some blood in in the streets, where where my head is at in terms of, like, where we are in the cycle, where where the the markets are at, is that up until last week, I think if you had a bull thesis, you you could still sort of hold on to that. And I think the bulls still, were willing to to to say that the the market could reverse and the momentum could reverse. I think now going into this week, it's there's probably less bulls out there, and there's probably more acceptance in the market that this is playing out how crypto bear markets typically do play out. And so I think that's where we're at. So I I'm not, ready to say we're hitting a macro low for for the cycle just yet. When when we do go there, you know, I expect that it will take some time. Right? I don't think once you go to a macro low, it's not like there's all these buyers that are just ready, and then it just takes off, you know, once you hit that low. So in the last cycle, we had three to four months, of of period where Bitcoin was actually trading below its realized value. So on an MBRP of less than one, we are still at, like, 1.4 today. And so and even in going back to the cycle before that, you also had, like, a three to six month period where, you know, you get these really fantastic, entry opportunities. So I think we made …