- This topic has 13 replies, 1 voice, and was last updated 3 days, 14 hours ago by QuitRepresentative23.
- Tuesday, November 22nd, 2022 at 16:08 #408841UBIQZParticipant
The bottom is irrelevant because the technology is ultra-relevant.
BTC optimism is used by those who think that it is “going to 8k” as proof that the bottom is not yet in.
We are optimistic, not because bitcoin has not crashed to 8k, it wouldn’t matter to us if it did (at least it shouldn’t), but because we know it will prevail.
That is the psychology of a bitcoin maximalist, they can not comprehend it. And it is their failure to understanding this psychology that will cost them in the end.
The FIAT cost of bitcoin is relevant only to the extent that it dictates the amount a bitcoiner can purchase at any given time.
The bottom of this downturn matters only to those who can not see the true value of bitcoin.
“wen 8k” = “wen lambo” mentality.Tuesday, November 22nd, 2022 at 16:15 #408843castorfromtheva
My answer would be:
“One day there will be this turning point when the majority of people finally understands what bitcoin is actually about. I guess there will be much optimism by then. Do really think the bottom then won’t be in yet?? What do you think will be happening to price in this scenario? Lol. Then at latest your “theory” will turn out to be bullshit.”Tuesday, November 22nd, 2022 at 16:23 #408842officialM3DL3Y
The bottom was in the day bitcoin was created. Relax.Tuesday, November 22nd, 2022 at 17:09 #408844bittercoin99
All these hot takes about how much further it could still fall, how the macro picture is still grim, yadda yadda this and that FUD… It’s just that. FUD.
It’s no different than people celebrating every leg up in a bull market. People push the narrative that supports their position.
There’s absolutely zero sincerity in any post ‘warning’ you against being too optimistic. There is only the dominant market sentiment. It’s literally what people make of it.
Stay optimistic friends.Tuesday, November 22nd, 2022 at 17:13 #408845Connect-Ad-1088
I’ll keep buying bottom or notTuesday, November 22nd, 2022 at 17:50 #408853[deleted]
[deleted]Tuesday, November 22nd, 2022 at 17:51 #408854QuitRepresentative23
Calm down mate and put the crystal ball awayTuesday, November 22nd, 2022 at 18:21 #408848Fire_in_2031
We’re optimistic because we’re in the Bitcoin bubble.
People who are in for a year (or two) aren’t as optimistic and gave up already.
Bitcoin is dead ☠️Tuesday, November 22nd, 2022 at 18:29 #408849sheltojb
Electricity isn’t going anywhere either, yet General Electric hasn’t regained their all time highs from twenty five years ago. Hmm. It seems that speculative price action often has nothing to do with the actual value of technology.Tuesday, November 22nd, 2022 at 18:40 #408850Grunchie
Its true. We have 2 years until the next bull run so chances are high that it will go lower in that time.Tuesday, November 22nd, 2022 at 18:54 #408846Praeteritus36
I agree completely with this. As long as someone is willing to trade with you in exchange for BTC, then it is working precisely as intended.Tuesday, November 22nd, 2022 at 19:10 #408851wildmanfree
Only the dumbest of the dumb can see all of the institutional and regulatory interest that weren’t here in previous cycles and still believe BTC can go to zero.
Keeping that in mind, expect the thresholds for fear (and also greed) to also change as time goes on.Tuesday, November 22nd, 2022 at 19:34 #408847ThenScore2885
People are also little more educated. In the past cycles they had no idea if it will work or not. Now there is more confidence.Tuesday, November 22nd, 2022 at 19:54 #408852kyleleblanc
I agree with the assumption but disagree with the reason. I think the bottom isn’t in because there is still way too many shitcoins and shitcoiners left.
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