Bitcoin Bear Trap, SOL 'Flippening,' & Investment Framework Insight
Takeaways from my YouTube chat with Nader, the Chart Champ, yesterday.
Yesterday, I had the pleasure of joining the Chart Champ podcast to discuss the recent flash crash in risk assets, my framework for digital asset investment, why Gold is still Goliath in the anti-fiat trade realm, and why I think Bitcoin is more of a speculative trade than ‘digital gold.’ It was a fun conversation. We actually planned to go just 1 hour initially but ended up going for nearly two hours:
One quick note, my audio sounds pretty rough throughout this video. But if you can deal with the robot-Mike, there’s still a lot of good info in this session. There are admittedly some common themes expressed in this podcast and this publication. But one thing that we have yet to discuss directly here is a point that Nader brought up: how close are we to Solana flipping Ethereum by market cap? For years, ETH bulls have been expecting ETH to flip BTC for the top spot.
Not only has that not happened, but its actually further away from happening than it was just two years ago. At 57%, Bitcoin dominance is at the highest level it has been at in over three years:
One of the few things that has outperformed is Solana. And that out performance has been fun to watch and participate in over the last 12 to 18 months. Could Solana actually flip Ethereum? It’s an interesting question:
At $300 billion in market cap ETH would need to quadruple (3.77x) from here to pass BTC assuming Bitcoin’s number stays the same. For Solana to pass Ethereum, SOL would have to more than quadruple (4.23x) if Ethereum stayed the same. That and SOL would have to pass both BNB (likely) and Tether just to get in the 3rd spot. Needless to say, SOL flipping ETH is a very bullish Solana position to take.
I’m bullish Solana as well and am certainly not opposed to this flippening happening. I’d want to reallocate my holdings first, but as currently allocated, it’d be an enjoyable setup. I don’t know how likely it is to actually happen but we spent quite a bit of time talking about both Ethereum and Solana in our chat.
Anyway, I hope you guys enjoy the video. It was a lot of fun chatting with Nader and I think there is good information shared throughout this 2 hour session.
As always, any feedback is appreciated!