Human psycology in Bitcoin BEAR markets

human psychology in Bitcoin bare markets. Okay, so first of all, you got to realize that only less than 5% of the world owns any meaningful amount of Bitcoin. And by meaningful, I mean more than like 50 bucks or something like that. So almost none of the world owns any Bitcoin to start with. Of the people who do own Bitcoin, the vast majority of them have not done the work to understand what they own, why they own it, how it works. They haven't studied Bitcoin's historical price patterns. they haven't studied its monetary properties. We're just very early in this Bitcoin adoption thing. So, the nature of Bitcoin bare markets when you when the price is down, which it is now, which is a fantastic time to buy more Bitcoin because the price always recovers for all the reasons we've talked about in numerous videos. So, the best thing to do is buy more Bitcoin. But most people don't know any of that. They have not read VJ Boyat's book, The Bullish Case for Bitcoin. They have not studied monetary properties. They have not they don't even understand investing. They don't understand the psychology that it's better to buy things when they seem when they when it feels painful. Uh rather than buy them when it feels euphoric because if you're buying something when it feels euphoric, it means it's already gone up a bunch. Uh which typically means it's less likely to keep going up as opposed to buying something if as long as it's a good asset. You're buying something when it's radically on sale, which means again it feels a lot worse to buy it, but the upside is much higher. You know, the worse it feels when you buy it. So buying Bitcoin right now means you've almost doubled your money when it goes back to 126. Buying Bitcoin at 126 means you got to, you know, live through the dip and then wait for it to go higher and then your gains come on the the higher side. But the vast majority of people don't know any of that, which means as the price starts dropping, they start getting scared. First they get nervous, then they get scared, and a lot of them sell on the way down. you know, they puke up their coins, they vomit their bitcoins all over the marketplace, which is why the price keeps going down. It's why when the price starts going down, it cascades lower. Part of that is forced liquidations and stop- losses and people doing stupid stuff with leverage. And some of it is just people getting scared. They see it falling. They don't know why it's falling. They don't understand how assets work and how investments work. So, they sell. Um, so the psychology in a bare market is we are in time pain. Time pain is when the price grinds sideways. That goes up and restores hope. Then it's dashed when it goes back down to, you know, $64,000. Then the price rises to $69,000. Everybody gets all excited. Then it goes back down to 60, you know, whatever, $64,000 again, and everybody's all bummed out again. And it does that over and over and over. And it just grinds people down. And every time that does that, it grinds out more people. More people. More people. More of the tourists decide that they don't like this ride. They want to get off. They're sick of it. They can't take it anymore. They're watching other assets go up and thinking, "Oo, gold went up a bunch. Maybe I should sell my Bitcoin at the bottom and buy gold at the top." That's actually what they're doing. They don't think that way. They just think, "Why am I holding Bitcoin when it's down when I could be buying gold, which is up?" Well, the answer is that's the reverse of what you should be thinking. You should be thinking, "Okay, gold already went through a once in a generation price increase over the last few years." Bitcoin is in a once every few years price dip. you should do the exact reverse which is you should be uh selling gold and silver and buying Bitcoin. But again, people don't understand that. So the reason we have to go through this dips is largely ignorance. It's because people don't understand markets. They don't understand Bitcoin. They don't understand the monetary properties. Too many people bought it who don't understand it. Too many people bought it with low conviction. Too many people don't understand how investing works. And you can benefit from that. You can benefit from that by buying Bitcoin while it's on sale. When other people are selling it, you're the one buying it. While other people are chasing momentum of gold and silver, for example, you can be selling gold and silver to switch over to the future monetary system of the world rather than investing in the past monetary system of the world. Uh so, you know, it takes a while to shake all of those weak-handed investor types. They're not even investors. Weak-handed uh holder holders, whatever you want to call them. the people who don't get it, the people who don't know what they have, they don't know how it works. It just takes time for them to all get exhausted, to get shaken out, to get uh, you know, every rally, you know, hoops are dashed over and over the tourist. And eventually, when all the tourists have been shaken out, the price will go much higher, as it always does, leaving everybody behind who sold their Bitcoin, rewarding everybody who bought more Bitcoin, leaving, you know, a mix of happy and sad people. Although the sad people usually don't realize they're sad because they, you know, they sold at, you know, 62,000 or whatever it was and they don't realize they have a problem until a few years later when the price is 180,000 and they're like, "Wait, I could have tripled my money, but instead I sold like an idiot, which happens all the time." So, time fixes all of this. Uh, time shakes out the weak hands. Time uh enables the Bitcoin to rotate from people who don't know what they own to newly minted Bitcoiners who understand Bitcoin. They understand mon monetary properties. They understand financial, you know, how the world financial system will switch to a finite scarce asset instead of something the government prints out of thin air. All of that will happen. It just takes time and as it happens uh we will eventually reemerge to a new Bitcoin bull market which will just generally just start going up and then o up a lot and then up faster and faster and you know we'll have multiple years of that and it'll be really fun and then we'll go through another bare market just like now just over and over until the world has 100% adopted Bitcoin which is going to take a long time and the price will be radically higher. Until then, buy as much Bitcoin as you can and hold on to it for as long as conceivably possible.