Buying crypto tokens intending to sell them later IS TIMING THE MARKET. Don’t do it! You will fail!

00:08 Do not buy altcoins with the intent of 00:12 selling them later to get more Bitcoin. 00:14 People are constantly trying to do this. 00:16 They are constantly failing and they're 00:17 constantly ending up with less Bitcoin 00:20 rather than more Bitcoin. It's always 00:23 the same. People come to me and they're 00:24 like, "Joel, this coin of whatever that 00:27 gets something different every time. 00:29 It's XRP. It's Salana. It's Suie. It's 00:31 Cardano. It's Dogecoin. Shiva. This coin 00:35 is going to go up faster than Bitcoin. 00:37 So, if I buy this coin, then I sell it 00:41 after it goes up. Then I'll have more 00:43 money to buy Bitcoin. Don't do it. 00:45 You've heard it said a million times, 00:46 you can't time the market. Every 00:48 investment book will tell you that you 00:50 can't time the market. Every investor 00:53 will tell you, do not time the market. 00:55 You can't time the market. It doesn't 00:57 work. Don't try it. Don't do it. So, 00:59 buying crypto tokens with the intent of 01:01 selling them before they crash to zero 01:04 is timing the market. Now, people come 01:06 to me and they're like, "No, no, no, 01:07 because I'm just going to buy them now." 01:09 I'm like, "Wait, you're buying them now 01:11 because you think now is a good time to 01:12 buy them." Well, yeah. I'm like, "That's 01:14 timing the market." Okay. They're like, 01:16 "No, no, no. But I'm I'm I'm buying them 01:18 now and then I'm going to sell them when 01:20 they before they go back down." I'm 01:22 like, "How is that not timing the 01:25 market? You're timing the market getting 01:26 in. You're timing the market getting 01:27 out. 01:28 Now, with Bitcoin, it's simple. You just 01:31 as soon as you can and hold on to it as 01:33 long as possible. You're not trying to 01:35 cash out a Bitcoin at a specific time 01:38 because Bitcoin in the long term just 01:41 goes up. Obviously, it goes up and down 01:43 on its way up, but in the long time 01:45 term, it goes up. No investor will ever 01:48 tell you that you should invest in 01:50 things that you think are going down, 01:52 but that you think are going to go up 01:54 before they go down and that you're 01:56 going to be the lucky guy that buys it 01:58 and then sells it before it goes down. 02:00 Guess what? Right now, if you buy that 02:03 token, you're buying it from somebody 02:06 who thinks it's going to go down on you. 02:08 The person before you is smarter than 02:11 you because they are dumping the trash 02:13 token on you and they're buying Bitcoin. 02:16 Now you're thinking, "Yeah, but I'm 02:18 going to buy it from them and I'm going 02:19 to ride it higher and then I'm going to 02:21 dump it on some other unsuspecting fool 02:24 and then I'll have more Bitcoin." No, 02:26 you won't. It's not going to work. It 02:27 never works. You cannot time the market. 02:29 You can't time the market with stocks. 02:31 You can't time the market with bonds. 02:32 You can't time the market with 02:34 commodities. Don't do that. Do not buy 02:36 anything that you know is not valuable 02:39 with the intent of dumping it on someone 02:42 else and using the proceeds to buy 02:45 Bitcoin. Now, can it work in the near 02:47 term? Anything can work in the near 02:48 term. Just like at a casino, the vast 02:51 majority of people win before they lose 02:54 it all. They don't win long term. They 02:57 win just enough to wet their appetite 02:59 and make them convinced that they can 03:02 time the market, that they get lucky 03:04 with slot machines, that they have a 03:07 special eye or skill for blackjack. And 03:10 no, if you stay at it, you're going to 03:12 lose. And everybody's convinced that 03:15 they're going to know just the right 03:16 time to sell because it's going to feel 03:19 high. That's what they think. They're 03:21 like, I'm going to buy these tokens now 03:23 and I'm going to sell them when they 03:24 feel high. Nobody knows what high is. 03:27 Once upon a time, $35,000 for Bitcoin 03:29 felt high. Later on, $65,000 felt high. 03:34 Then $92,000 felt high. Right now, 03:36 $119,000 Bitcoin hovering just below 03:39 $120,000 feels high to somebody. And 03:42 then they sell it and then they look 03:44 back in the future and Bitcoin's a 03:45 million dollars and they're sad they 03:47 sold it. So, don't do it. You cannot 03:49 time the market with stocks, bonds, 03:51 commodities or Bitcoin or anything else. 03:56 Humans cannot time markets. And because 03:59 you cannot time markets, you do not know 04:02 that now is a good time to buy your 04:04 favorite trash token that's eventually 04:06 going to zero. And simultaneously, you 04:09 do not know when the best time to sell 04:12 that junk token is and get out before it 04:16 goes to zero. If you're buying things 04:18 you don't believe in, if you are buying 04:20 things you know are not valuable and 04:23 you're hoping to dump them on someone 04:24 else, it's called the greater fool 04:26 theory. The greater fool is I'm a fool 04:29 and I know I'm buying this thing like a 04:31 fool, but there's a greater fool who I'm 04:34 going to sell to. If you are exercising 04:37 the greater fool theory in your 04:38 investing, you are the greater fool 04:41 because you are the person getting 04:43 dumped on by the person before you. And 04:44 the people who think that way and the 04:46 people who act that way generally are 04:49 the last fool in line. Now, that doesn't 04:51 mean you're going to lose your money 04:52 immediately. It means your favorite 04:54 trash crypto token, look, it might go up 04:56 10 or 15%, it might go to up 30%. And 04:59 then somehow it eventually goes down 05:01 50%. And you lose it all and you end up 05:04 with less Bitcoin. 05:06 It is one of the many, many, many ways 05:07 to end up with less Bitcoin. Don't 05:09 borrow against your Bitcoin. You'll end 05:11 up with less Bitcoin. Don't leverage 05:14 your Bitcoin in creative ways. Don't 05:16 loan your Bitcoin to anyone. Don't try 05:18 to get yield on your Bitcoin. None of 05:21 those things work. You're like all the 05:23 people who uh you know, they gave their 05:24 their their money to BlackFi, Celsius, 05:27 and Voyager because they were promising 05:29 a 10% yield on the Bitcoin, and then 05:32 poof, all the Bitcoin went away. It 05:34 worked great until they lost all the 05:36 Bitcoin. All these strategies work great 05:40 until the point they suddenly don't work 05:41 great. And if you think, well, it's 05:43 going to go up and then I'm going to as 05:45 soon as it starts going down, I'm going 05:46 to sell it before it goes down. Guess 05:48 what? It's going to go down a little bit 05:50 and then you're going to sell it and 05:51 then it's going to start going up again. 05:53 And then you're going to buy back in at 05:54 a higher price because you're like, "Oh, 05:56 the party wasn't over. There's still 05:58 greater fools in the market." Well, 06:00 it's, you know, buy back in. So, you you 06:02 sell on a dip. you back in at a higher 06:04 price, then it dips and you sell again 06:07 and you lose money. It happens all the 06:09 time. Happens. It's been happening for 06:11 as long as markets have been alive and 06:13 as long as markets have been alive, 06:14 there's been some greater fool that 06:17 thinks they could pull it off. Don't do 06:18 it. It's not going to work for you. 06:20 Doesn't work for anyone else. Buy 06:21 Bitcoin. Sit on it for as long as 06:23 conceivably possible. Don't be dumb with 06:25 your money. Don't be dumb with your 06:27 Bitcoin. Do what smart people do. They 06:29 buy Bitcoin and they hold on to it for 06:31 as long as conceivably possible.