Signs of a bubble, Ray Dalio 1. Prices are high relative to traditional measures 2. Prices are discounting future rapid price appreciation 3. There is broad bullish sentiment 4. Purchases are being financed by high levels of debt 5. New buyers have entered the market Think about your favorite BTCTC and tell me which of these warning signs doesn’t apply.

So I spent the day today at Coinbase’s State of Crypto 2025 event. I’m gathering my thoughts.

I was recently on an AMA with Stacker News and someone asked when I’d be back on Nostr. Hi.