#FinancialFox Clem Chambers on Bitcoin Price crash: It is a 4 year crypto cycle - Buy the dip not the crash

In this episode of #FinancialFox podcast Steffy speaks with investor and crypto guru Clem Chambers about the recent Bitcoin price crash. Chambers says that Bitcoin has a four-year price cycle and the best strategy is to buy the dip not the crash. They also discuss energy efficiency in crypto and DeFi opportunities. 

HIGHLIGHTS

==================

Bitcoin cycle:

According to Clem Chambers, Bitcoin has a four-year price cycle and we just reached the peak as institutional investors bought into crypto. Now Bitcoin price is on a downward slope. "Boom, bubble, bust, it's what the markets do. If the price went up to $100,000 it would bust anyway. The key is to have a strategy to buy and sell to make gains. Buy the dip not the crash!"

===================

DeFi and other opportunities in crypto

But don't forget there are other opportunities in crypto, he says: "While Bitcoin was going up, I was buying into DeFi. Looking at Bitcoin price from day one we can see cycles of 'boom, bubble, bust' and this is exactly what is happening to NFTs now and what happened to DeFi about nine months, a year ago. 

=================== 

Crypto energy efficiency 

Clem believes that despite recent headlines about the environmental impact of Bitcoin mining, crypto is still a superior money system."Banks create a lot more energy usage than bitcoin. The thing about money is: if it is cheaper, it wins, if it is more efficient, it wins. That's the law, and crypto is winning."