News · moment 4 of 16
Bitcoin Crash and Mike Novogratz's Recession Clip
from #303 - Meeting In The Woods | The Tim Dillon Show · #303
5 min
News
Tim and Ben look at Bitcoin cratering under $20,000 and the Dow falling back to pre-pandemic levels, then play and react to a Mike Novogratz clip explaining the Fed's plan to force a recession to fight inflation.
- Bitcoin crashed below $20,000, the thing that was supposed to save us.
- Tim predicts the housing collapse is coming next after Bitcoin's collapse.
- Bitcoin hasn't been this low since December 2020, and the Dow is back where it was in January 2019 before the pandemic.
- Fed is driving the market into a recession to combat inflation, according to Mike Novogratz.
- There's not going to be a soft landing—the Fed has decided that's impossible.
- Tim describes the hard landing coming as hitting concrete from thousands of feet, pain mixed with embarrassment and disgust.
- Tim admits he feels like an idiot spending $80,000 on sunglasses as the economy crashes.
- Novogratz explains crypto must be held in context of the Fed withdrawing liquidity from the market.
- Assets that rose on cheap money forever will suffer as the Fed tightens.
BitcoinMike NovogratzFederal ReserveDeFiJerome Powell