Will you buy the Bitcoin price dip? Here’s the pattern that keeps repeating…

00:01 Will you buy the dip? Bitcoin is dollars 00:04 right now down from its all-time high 00:06 above $126,000. 00:08 So, it is dipping right now. When 00:10 Bitcoin starts to dip, everyone freaks 00:12 out and then when it goes back up, 00:13 everybody thinks they missed out. So, 00:15 here is the classic pattern that repeats 00:17 over and over and over with every 00:19 investment asset since the beginning of 00:21 time. Someone checks the price of the 00:23 asset, it's gone way up, and they're 00:24 like, "Oh no, I've missed out. Now is a 00:27 ter." So then the price starts to dip 00:29 and they're like, "Oh no, something must 00:30 be wrong with that asset. If it's going 00:32 down, it's probably going to go down 00:34 more. I probably shouldn't buy now. I 00:37 should probably wait and see how low it 00:38 goes." Well, then it rebounds and it 00:40 goes right back up. And they're like, 00:41 "Oh no, I've missed out. Now it's high 00:44 again. If I were going to buy, I should 00:46 have bought back when it was low. But 00:48 now it's high again. Now it's expensive. 00:50 Now I shouldn't buy." If I were to ask a 00:53 hundred people or a thousand people at 00:55 Kroger or Costco or Walmart or Target, 00:59 if I showed them the price of Bitcoin on 01:01 any given day, they would conclude one 01:03 of two things. Either it was going up 01:06 and it was already high and that they 01:07 already missed out, or it was going down 01:11 and it was scary and they probably 01:13 shouldn't buy it right now because it 01:14 might go lower. And it's really amazing 01:17 that anything ever gets bought when the 01:20 human natural incentive is to not take 01:24 action when the conclusion of your brain 01:26 every time is I should not buy right 01:29 now. Which is why you can't time the 01:31 market. Which is why I recommend buy as 01:33 much Bitcoin as you can regardless of 01:35 the price. All that matters is the long 01:38 term. Ignore the price in the short 01:40 term. There's never a bad time to buy 01:42 Bitcoin. And if you let your psych your 01:45 psychology run things, you will always 01:48 conclude that Bitcoin is either going up 01:50 and it's too expensive and you missed 01:51 out or it's going down and it's scary 01:54 and it might go down lower and you 01:55 better wait. In either case, you'll 01:57 never buy any Bitcoin. So, the way 01:59 investors in any asset make money is to 02:03 buy it and then hold on to it for as 02:05 long as conceivably possible. And the 02:07 money is all made in the waiting, not in 02:09 the trying to time, you know, in or out. 02:13 Same with Bitcoin.