WHAT IS WRONG WITH BITCOIN???
Published November 21, 2025
by Joel Bomgar
YouTube Video Transcript
is wrong with Bitcoin? The answer is
nothing. Nothing is wrong with Bitcoin.
I'll answer the two questions in that
question in order. The first is the
question that you did not ask, which is
what is wrong with the Bitcoin network,
the Bitcoin protocol, the Bitcoin
monetary properties. The answer of
course is nothing. Bitcoin is more
secure, more robust, more decentralized,
has better monetary properties. It's
more divisible, durable, scalable,
portable, fungeable, authenticable, and
scarce than it's ever been in history.
Bitcoin has better, stronger monetary
properties than it has ever had in the
history of the planet. And it's got the
best monetary pl uh properties of any
asset in the history of the p uh planet,
bar none. So, nothing is wrong with
Bitcoin, the technology, the network.
It's processing billions of dollars
worth of transactions. Nothing is wrong
with Bitcoin, the thing. So, that's the
first question. The question you didn't
ask was, "What was wrong with all those
things?" And you didn't ask it because
there's nothing wrong with it and
Bitcoin's working just fine and it's
doing all the things it's supposed to
do. The question you did ask or that you
did mean to ask is what is wrong with
the price of Bitcoin? There's got to be
something wrong with it because we're
down here at 91,500. What could be going
on? All right, so let me answer that.
So, first of all, over the last number
of weeks, everything's down. The stock
market's down. Everything's taking a
beating. People are scared. People are
fearful. They're worried that the
tariffs are going to catch up with us
and cause havoc within the economy. That
massive amounts of inflation is about to
hit causing havoc in the economy. Uh the
stock market in general is just down. So
anytime you see the entire stock market,
like all the stocks on average down by
1% or more, it's going to be a blood
bath in everything because everybody's
running scared. When everybody's running
scared, they sell everything, including
stuff that makes absolutely no sense
whatsoever. They just sell stuff because
they're scared. Uh, one second.
The analogy I use here is it's like uh
when a ship is sinking and they're
trying to lighten the load. You may be
thinking, okay, if you're trying to
lighten the load, why would you throw
the food overboard? Because uh if you
throw the food overboard, you're going
to starve as soon as the, you know, if
the ship doesn't capsize. But when
everybody's panicking, they're throwing
everything over the board. It doesn't
matter if it's light or if it's heavy.
It doesn't matter. this just how easily
can I get this thing unhinged from this
ship and chunk it overboard to lighten
this load. So when everybody's panicking
they sell for every reason for no reason
people just act very irrationally uh
when they are scared which people are
right now. Okay. So that is a major
driver of the selling. A second major
driver of the selling is this thing
called the four-year cycle. Now, if
you've watched my videos for a while,
periodically I've told you you should
read the book uh The Bullish Case for
Bitcoin by VJ Boya. I've done entire
videos on why uh as soon as we started
2025, why you should read the bullish
case for Bitcoin by VJ Boya. And the
reason is it does a better job than any
other book I've read of explaining what
is the Bitcoin four-year cycle and how
do we know if it's in play or not. So
the four-year cycle is historically
Bitcoin's gone up for three years in a
row, down for one year, up for three
years, down for one year, and it's done
that pattern mostly from the beginning
of Bitcoin's history. And it's related
to the Bitcoin having, which doesn't
really apply as much anymore, and it's
just related to human psychology and
things like that. Well, uh, because 2025
has been a muted year on the upside, me
and most other people in Bitcoin as of a
month ago would have said, you know, the
Bitcoin having is not a thing. We're not
going to get a huge price correction in
2026. Uh, because we did not have a huge
parabolic rally, meaning a a rally that
looks like a parabola where it just goes
like zoom, just like through the roof
like we had in 2011, 2013, 2017, and
2021. We didn't have that this year. And
those price corrections always happen
because you get these huge price rises
that are unsustainable where the price
gets significantly ahead of market
adoption. And when the price is way
ahead of actual underlying market
adoption, it's going to come back to
something more reasonable that's
reflective of the actual market adoption
of Bitcoin, which happened every time.
Uh, and all of those were incredible
buying opportunities to acquire more
Bitcoin. But we have not had that. We
did not have a parabolic rise in 2025.
The price didn't go crazy. Yeah, we had
some all-time highs, but they weren't
like radically higher. We didn't get up
in the 200,000s or 300,000s or anything
like that. So, me and most other people
in Bitcoin land uh believed that it's
unlikely that 2026 is a down year. The
problem is enough people think that it
might be that they're trying to frontr
run that. So, they're trying to sell
Bitcoin now so that either they can buy
it back in 2026 or they don't have to
experience the pain of a possible 2026
downturn. So, in my opinion, that's a
stupid stupid strategy. Um, people tried
people have tried to do this a bunch of
times and they screw it up almost every
time. Uh, because they always end up
selling too early or too late and then
they always end up trying to reby too
early or too late. They just screw it up
almost every time. So, I do not
recommend that. Additionally, again,
because we have not had this parabolic
rise in 2025, it just doesn't seem like
we're going to have a major price
correction in 2026. Sure, we might go
through a dip, but I don't think it's a
dip. It probably doesn't last very long.
It's probably not very deep. And heck,
we're already in it, so maybe this is
the dip. Where is the bottom of the
current dip we're currently in? I don't
know. Nobody knows. Um, but probably way
shallower than any of the dips we've had
historically. certainly much shallower
than in, you know, 2012, 2014, 2018,
2022. Those dips were were they're
always measured off the parabolic ultra
high. So the very peak top, they end up
you end up with a relatively large
percentage drop. But again, that's
because it ran up so aggressively prior
to that. So I don't see that sort of
correction happening in 2026, which I
think now makes now a fantastic buying
opportunity. Um, but enough people are
scared in general in the economy. Enough
people are freaking out. Enough people
are trying to frontr run the possible
four-year cycle so they don't have to
experience the pain. They're going to
end up in retrospect, they're going to
end up screwing it up just like
everybody does in the past. They'll
screw this up, too. U but right now they
feel good because they sold their
Bitcoin at 95 and now it's 91 or
something like that. Or they sold it at
105. It's just dumb. People are just
constantly trying to come up with games
that they are certain are going to beat
the market. Every time you try to beat
and outsmart Bitcoin, it beats and
outsmarts you. So, don't don't play that
game. All right. So, what's it gonna?
First of all, how low could it go? James
Czech says the the lowest it would
likely ever go is somewhere between 75
and $85,000. Now, on one hand, you're
you're thinking shocking. You're like,
"Oh, no. It went up to 126 and it could
go as low as 75 to 85." Well, first of
all, let let me remind you we went down
below 74,000 in April of this year.
What is that like six months ago? I
mean, so anytime somebody is just
completely losing their mind because
they're like, "Oh no, I cannot believe
we're going to crash that far." It's
like, "Wait, you mean to a price we were
literally 6 months ago?" Like, we dipped
down just below 74,000 in April of this
year. You're saying it's like you're
losing your mind because we might
retreat back there very temporarily. And
even back then, we were down there like
almost no time. So, who even cares? Uh,
second, 85 is barely lower than we are
today. So, even if there's more dip in
store, it's pretty shallow compared to
the pain we've already experienced in my
experience or in my perspective and my
experience, we have already experienced
the majority of the pain of this bare
market. If this is a bare market,
because we've already dropped from 126
to 91,500.
There's just not that much to go until
you hit hit the uh the uh true market
mean and the ETF average purchase price,
the Michael Sailor average purchase
price, all of those things in the $75 to
$85,000 range that for a bunch of
reasons, it's just highly unlikely that
we would go below. Um that's just not
that much farther to drop. And you know,
again, I think it's a fantastic buying
opportunity, which is I why I bought
hundreds of thousands of dollars of
Bitcoin at an average price of
$95ish,000
over the last 3 days. Obviously, I could
have waited and bought it at 91,500
right now, but nobody knew it was going
to be 91,500 today. And waiting
statistically, you're going to lose. So,
the odds are against you by more than 5
to one of buying. So, yeah, I could have
said, "Hey, 80% chance I'm going to
lose, 20% chance I'll win. I'll take the
20%. No, if somebody gives me 8020 odds
on the best asset in the world, I'm
going to buy it. It's just that simple.
Okay. So, um, so that is Bitcoin's down
because of that. I've got a question
here. I'm going to try to real time it.
Do you think another coin will reach
what Bitcoin has? No. I would not buy
any other coin. Every other coin
compared to Bitcoin is trash. That does
not mean none of them will be of value.
But look, people were buying the Melania
Trump coin um you know earlier this
year, late last year. It's down 99%. The
Trump coin is down more than 75%.
Ethereum is way off its high. Salana,
Dogecoin, all that stuff. No, everything
else trends to zero against Bitcoin. So,
no, I'm not worried about other coins at
all. This is purely a function of human
psychology of is the human psychology
such that what is the bottom? you know,
where is the bottom? How many people are
panicking? How many people have weak
hands? How many people are trying to
save houses, save businesses, save, you
know, avoid going bankrupt so they're
getting getting forced to sell their
Bitcoin? How many people are leveraged,
meaning they bought Bitcoin with
borrowed money and they're now getting
wiped out and they're getting liquidated
and all of that? I mean, it's just
people do stuff like that all the time
and it just has to wash out of the
market and when they when it's done
washing out of the market, the
marketplace is much higher uh or much
more healthy and therefore can go much
higher. So, I would say the lowest it
goes is somewhere between 75 to 85. Um,
if you want to understand the four-year
cycle, go read the bullish case for
Bitcoin by VJ Boyati. I've been
recommending that people read that for
years now to understand the four-year
cycle. Uh, which seems relatively
relevant right now. Again, I don't even
really think the four-year cycle is in
play. I just think we're getting a
larger than normal dip due to bad human
psychology that's happening right now,
which because because it's not supported
by the facts, which are market adoption
is really strong. I mean, everything
about Bitcoin is in in a good place
right now. So, I it just doesn't make
any sense that there'd be a prolonged
super deep bare market in my opinion.
Uh, but if you want to understand all of
that psychology, the bullish case for
Bitcoin by VJ Boyaotti, it's on
audiobook. It's on Amazon. You can buy
it all there. Um, yeah. So, I just don't
think we have that much farther to go if
we are going to dip farther. I think
it's a fantastic buying opportunity
right now. I do not regret the Bitcoin I
bought at $95,000 over the last three
days. I don't I don't regret it one bit.
Statistically, I had the best possible
odds for long-term success by doing
exactly what I did. So, look, if you bet
that a coin flip's going to be a heads
and you get a tails, you don't regret
regret flipping it. There's no way to
know. You had as good a possibility of
getting heads as a tails, so who cares?
Um, and I had, you know, way better odds
of that. The the upside of buying that
additional Bitcoin made way more sense
than the downside of waiting for a dip
statistically, and that's still the case
for every single price point below where
we are now. So, I would not wait for a
dip if I had additional capital, which I
don't because I spent it all over the
the last three days. If I had additional
capital, I would buy a bit additional
Bitcoin right now, no matter what,
regardless of the price. I would not
wait for a dip. Uh waiting for dips is a
losing proposition. Uh statistically,
economically, I just would not play that
game. Um so, I think it's that simple. I
think we're we're most of the way into a
you know, a dip as big as it's going to
be. It could go lower, sure, but it
might not. Nobody knows. And uh you
know, the my advice is the same as
always. that never changes, which is buy
as much Bitcoin as you can. Hold on to
it for as long as conceivably possible.
That's the only winning strategy, and
it's always been the only winning
strategy, and it will be the winning
strategy right now. Like, it's that
simple. 100% Bitcoin will set a new
all-time high sometime in the coming
months or 2026. I don't know. It'll set
a new all-time high. It'll blow
everybody away. Come on. Like, we've
been through this so many times before.
It's just it's obvious where we go from
here. It's just time. So, if you have
additional capital, buy more Bitcoin.
It's that simple. If you have additional
capital, buy more Bitcoin. If you don't,
just wait it out. We're in a dip. Who
cares? Uh, it's not going to go that
much lower anyway. So, that's my advice.
Same as always, doesn't change. Buy as
much Bitcoin as you can. Hold on to it
for as long as conceivably possible.
It's the only strategy that always wins.
And I'm here if you need me. If you got
questions, let me know. I am a happy
Bitcoin holder. And so you can text me
at 601-2070813.
That again is 6012070813.
Text me questions. You can message me on
Facebook. Just make sure it's this
account. It's a legitimate account. And
um yeah, last question somebody asked
here is I think Bitcoin will reach 125K
next year. I certainly hope so. It
should go way higher than 125K next
year. Um and I don't even you know it
ought to be the front end of next year.
I think I think we easy hit 200,000 next
year. I mean, it's just it's just a
temporary dip. Who even cares? We've
been here. We have been here so many
times. So many times. My advice is the
same. You ride it out. You buy more if
you can. It's just not that hard. So,
have a great day. I'm here to help. If I
can help calm your nerves, if I can help
make sure you're feeling good about
things, if you have questions, I love
answering Bitcoin questions. I love
answering questions about why the
market's doing what it's doing. It also
gives me great material for doing
videos. So, if I'm not sure what to do a
video on and somebody asks me a great
question about why the price is doing
what it's doing or the probability that
it will dip or whatever, I can run all
of those numbers and I can spit out a
video that benefits everybody all
because somebody asked me a question.
So, send me questions. I love them. I'm
here to help. I'm here to be your sherpa
through the dips, through the rises,
everything you need. I'm here by your
side every step of the way so you don't
have to freak out. And I've been here
before. I know how it feels. I know how
it feels at the bottom. and I know how
it feels at the top. I'm here to help
you every step of the way. Ask me
questions, reach out. Anything I can do
to help, I am here to serve. Have a
great day. This dip is temporary. We'll
be fine. Bitcoin's fine. All is well in
Bitcoin.
Disclaimer:
The content provided in this post is for educational purposes only. It should not be considered financial, investment, or trading advice. I am not a licensed financial advisor, and all opinions expressed are my own. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. Investing in Bitcoin or any other assets carries risk, and you should never invest more than you can afford to lose.
Subscribe to Joel's Friday Roundup ✉️
Stay current with the latest bitcoin insights with the Friday Roundup newsletter — Joel's latest posts from the week, wrapped up in a single email for easy viewing.
NOTHING for sale. No SPAM ever. Unsubscribe anytime.