Oddbean new post about login | logout If a year elapsed and there was no crash and Bitcoin was trading over 100k USD, fed funds rate at 4%, s&p over 6000, would you dump your fiat in?
Nope, I have enough. I can and do put money to work through my businesses. If I've learned one thing through trading, it's not to buy high, regardless of the asset. No one saw FTX coming, and there are plenty of snakes still hiding in this industry.
Bitcoin by many metrics (hash rate, network effects / adoption, s curve potential, TAM, novel utility) is quite cheap. Doesn’t mean it couldn’t dump but I will always take the other side of the bet with Bitcoin.
I mean, I am still mostly in Bitcoin, it was just accumulated at significantly lower prices so if things did dump, it's not a problem.
That’s fair I’m just offering my perspective.
It's totally understandable, for sure. There is plenty to be bullish about. I guess as long as people continue thinking long-term, they'll be fine regardless of how long it takes or how much it could potentially drop. I've seen too many people enter at the wrong time, not spend enough time on learning what it is they are getting into, only to be shaken out and burned.