The more everyone says this is not a supercycle and that the idea is even impossible makes me think it’s def here. Just look at how sure they all think another 80% drop is. As if nothing has changed from the last cycles. So much recency bias it’s hard to comprehend how they don’t see it and don’t questions their mantras. Especially after being wrong time after time with bold calls like ETFs not getting approved, not being material, no nation state adoption, Trump not winning, politics not mattering, Trump not freeing Ross, etc. these same ppl that got all of these things wrong are all now saying we have another 80% drop coming and it’s inevitable. Either way this only really matters if you are trying to trade it, and that generally doesn’t work out well. All the ops praying for another second, second chance to go all in. Lots of sideliners projecting too. I’m going to stay bullish, their lack of conviction is theur own issue.
Discussion
100% agree. ETFs and nation state adoption are the new paradigm. Past cycles cannot compare
I heard someone (josh Mandel) saying "if it's cold enough for flannel, we are in the channel". it's good enough financial advice for me. So when the winter thaws everything goes to the moon.
Even with all the ops trying to manifest another 80% crash, it still won’t happen. There is simply too much demand now. The downside volatility is a gift to the new buyers that have conviction and is bought up quickly and automatically. The market has evolved. Sexhaver420 is no longer material. Michael Saylor and Larry Fink can take it from here.
Idk how anyone is bearish when basically everyone around Trump owns bitcoin.
I have to put my armchair analyst hat on but I think it’s clear right? They were directionally wrong about bitcoin at the bottom after the ftx crash. They likely capitulated / got rekt with leverage. Or they didn’t take advantage of the head start with any reasonable amount of capital and now are salty that the rich have arrived and stole their thunder and are making serious money and they aren’t. Also that they played the fiat game of trying to be an influencer and get followers and likes instead of focusing on their stack. It’s all rooted in regret, they thought they had way more time to stack. They thought it would never really go this mainstream and would always stay subculture. And they still have ptsd from the last cycle where it was cut short by so ouch egregious fraud bc we were still in the Wild West days. Either way, they are not serious people. They will not get an invite into the citadels if they keep this behavior up.
Yeah, I think they partially capitulated in 2022 and followed the bonehead $10 DCA advice. Combine that with many leaving their good-paying jobs prematurely in 2021-2023 to “work” for Bitcoin by trying to make it as a podcaster or influencer, and you end up with their cash flows majorly impaired with the cost of living being way higher than pre-pandemic. They weren’t able to stack as much as they wanted, so they are unhappy with their bags.
I think that’s why they are always trying to convince others to “work” for bitcoin and DCA $10. Misery loves company.
Yup. They will never admit it but it’s clear they are short bitty lol
And with the “don’t talk about your stack” mantra they can pretend low key this is not the case and they are all so rich and just have such higher virtues than us
New players are not buying what they have to sell and see through it
We need a meme for this. Like the one where the incel is watching the jock and cheerleader and saying they don’t know bitty is going to crash 80% again 😏
The funniest part is when they say they had rather do something else, but if they did, then who would be there to tell us the state of the mempool and what Len and the rest of the clique have to say about bitcoin amd macro for the 1000 time?? very important work, and if they stop, Bitcoin may fail.
Lmao 100%
People saying this is the same top from 2021...
Even if their 80% drop happened, they wouldn't buy, because they'd worry it could go down lower.
Would be sexy
I say anything less than a -60% draw down is a super cycle.
I’m going with <50% and it recovering quickly
I remember you calling for $800k in 2021 right at the top at $65k…..
Sentiment was great, reality did not cooperate.