在特朗普总统签署了一项法案，比特币正在上升

自特朗普总统赢得总统大选以来，加密市场一直在狂野地旅行，最初跃升为有史以来高潮

President Trump signed a bill that reverses Biden era IRS rules, which will make decentralized finance platforms comply with the same tax rules as traditional brokers.

特朗普总统签署了一项法案，该法案扭转了拜登时代的IRS规则，该法案将使分散的财务平台遵守与传统经纪人相同的税收规则。

The crypto market has been on a wild ride since President Trump won the presidential election, initially impacting to all-time highs passing the $100,000 mark and then falling along with the broader market as investors go risk off amid trade policy uncertainty. But our next guest correctly calling the current so-called crypto bear market here. We've got Kamal Mcadem. He is a general managing partner at finality capital, which is a venture capital firm investing in early stage companies primarily in the blockchain Eden Web 3, IT and Web 3 sectors as well. And before that he also co-founded OmniX, a trading technology platform acquired by Gemini. Also want to mention our executive editor Brian Sozi still here to add additional context. Now Kamal, full disclosure for our audience, you're obviously a Bitcoin investor yourself, but you called this bear market. Talk to me about what you were for seeing and how it's impacting your activity with crypto as an investor himself.

自从特朗普总统赢得总统大选以来，加密市场一直在狂野，最初影响了有史以来的100,000美元大关，然后随着投资者在贸易政策不确定性的情况下冒险冒险，随着投资者的风险冒险。但是我们的下一位客人在这里正确地称呼当前所谓的加密熊市。我们有Kamal McAdem。他是Finality Capital的一般管理合作伙伴，该合伙人是一家风险投资公司，主要是在区块链Eden Web 3，IT和Web 3领域的早期公司投资。在此之前，他还与Gemini收购的交易技术平台Omnix共同创立了Omnix。还想提及我们的执行编辑Brian Sozi仍在这里添加其他上下文。现在，卡马尔（Kamal）是我们受众的全面披露，您显然是比特币投资者，但您称之为熊市。与我谈谈您看到的内容以及它如何影响您作为投资者本人的Crypto活动。

Well, I've been trading crypto for a long time since 2013. You know, I started out with $500 and ended up with 50 million back in 2022. Um, what we've seen recently is that I have a macro signal that flips from positive to negative coming into January. So I could top would be around there from the charts. Uh you could narrow down to the week that it

好吧，自2013年以来，我已经交易加密货币已经很长时间了。您知道，我以500美元的价格开始，最终在2022年获得了5000万美元。嗯，我们最近看到的是，我有一个宏信号，从正面变为负面到一月。因此，我可以从图表中登上那儿。嗯，你可以缩小到一周

the top would come in sometime between January 13th to January 20th. The actual top was January 19th.

顶部将在1月13日至1月20日之间的某个时候出现。实际上是1月19日。

Come on, why hasn't Bitcoin be why hasn't seen I guess as a safe haven during these risk off day for stocks? You know, you go back in the past and people would would flock to Bitcoin.

来吧，为什么我不认为比特币是为什么我认为在这些股票的风险中没有看作是避风港？您知道，您回到过去，人们会涌向比特币。

Well, the number one driver of crypto prices is macro conditions and macro conditions were tightening for whatever reason and um, you know, that's that's what's going to drive crypto prices more than anything.

好吧，加密货币价格的第一驱动器是宏观条件，出于任何原因，宏观条件都在收紧，嗯，这就是要推动加密货币价格的原因，而不是什么。

And if that's what's going to drive crypto, then I I guess I'm curious how you maintain investing in this digital currency in the environment that's so defined by uncertainty right now.

如果那是要推动加密货币的原因，那么我想我很好奇您如何在现在不确定性定义的环境中维持这种数字货币的投资。

Yeah, I mean, that's why you know our particular strategy is to take risk off at times when there's macro tightening and uh to put all that risk back on so that we can capture all the upside without suffering the downside volatility.

是的，我的意思是，这就是为什么您知道我们的特殊策略是有时会降低宏观和嗯，以便将所有这些风险重新承担起来，以便我们可以捕获所有上行空间而不会遭受下行的波动。

Okay, so then let's talk about this for from the perspective of like a retail investor who has $10,000 to deploy in this environment. Do you think that they should be buying Bitcoin if they do have a longer time horizon?

好的，然后让我们从散户投资者的角度来谈论这一点，他在这种环境中有10,000美元的部署。您认为如果他们的时间更长，他们应该购买比特币？

Yeah, absolutely. I mean, this is a great time to buy. Um, you know, it'll probably be a little lower at the end of the year, but there's often divergences where, you know, Bitcoin might be a little bit lower, but some of the alts that people might invest in might have already hit their lows early in the year. So you won't regret buying anything here five years from now.

是的，绝对。我的意思是，这是购买的好时机。嗯，您知道，到年底可能会稍低一些，但是通常情况下，比特币可能会稍低一些，但是人们可能投资的某些Alts可能已经在今年年初就已经达到了低点。因此，您将不后悔在这里五年后购买任何东西。