If you read through comments over the years everybody had an opinion on where the bottom should be and why, or when to buy and why. I am positive no one knows anything and you have to have your own conviction, your own understanding and your own “risk” tolerance. Otherwise you’ll miss the boat. Don’t listen to anyone. Buy buy buy. That is all
I am 100% positive no one knows anything
byu/RareOccurrence inBitcoin
Posted by RareOccurrence
10 Comments
As long as you buy and never sell you never lose money
1 BTC = 1 BTC
Who wants to sell BTC and hold USD shitbag? Couldn’t be me.
Yes… that is basic finance 101, no one can accurately account for the direction any market will go in (except maybe the medallion fund) hence why DCA and diversification is the only real effective investment advice that can realistically be given to the average person
If you ever had the illusion that random people knew anything about market movements my guess is you likely bought at the top when btc hit the mainstream and everyone and their shoeshiners had an opinion on something they didn’t understand
No one can even explain why BTC dumped 50% in 3 months let alone where the bottom will be. DCA > market timing
Correct. There is nothing to evaluate. Anyone that says this is a great time to buy is basing it strictly on their gut which is likely based on historical prices of it (which is a small sample size in relative terms compared to other “assets”) or their own psychology, which is probably based on when and what price they first bought.
Exactly. I’ve said the same here for months and attacked for it. People pretending they know. Delusional. At least know what you don’t know. Applauding Saylor every time he bought as if he knows anything. He doesn’t. Bitcoin may have a great future or it could be in a death spiral. Who knows? But stop pretending it’s all a predictable cycle. If it was ye would sell at the top, but at the bottom and be multi millionaires
Honestly this is the most accurate take here. Everyone sounds confident in hindsight but scroll back a year or two and it’s all wrong in different directions. Bottoms, tops, targets, timelines… none of it sticks.
All you really control is how much risk you can sleep with and whether you keep showing up. DCA works not because it’s clever but because it removes ego. Same with diversification. It’s boring, but boring survives.
Conviction matters more than predictions. If your plan only works when you’re right, it’s not a plan.
If you’re early and trying to make sense of this stuff without the noise, I write a short free UK focused newsletter. Link’s on my profile if it helps.
No one truly knows. Only institutions who has deep pockets are able to move the prices. There’s a price they have in mind and they either pump or dump the market to get there. Little fish like us are just in a long for the ride.
I gave an upvote on the title alone.
Adam Smith, is that you! /s