Those buying Bitcoin at the highs are rarely considered morons for long. You have to remember that people like you were calling them morons for buying Bitcoin at $30, $1,100, $20,000, and now, $60,000… Makes you wonder who the next morons will be and at what price they’ll be called morons for buying…
Just trying to give you some perspective.
Exactly, and it just shows that bitcoin should be look at long term specially if by chance you have bought them on top like in the example of the OP @60k. Maybe in the next 4 years we might see the price going into 6 digits. And then going back, how you can you call them moron when they have invested and make profits just by HODLing?
And we all know that the market works in cycle, maybe today we are in a bearish trend, and then in the next months or years, your investment will grow 1000%.
That is what the main topic should be but people always have short memory when it comes to finance. Remember 2018 crash? We went from 20k to 3k, which means if you bought at 3k then you made nearly 13x right now, just right now, closer to 21x profit at the peak, can you imagine that?
In just 3 years you could have made over twenty times of your money! However what people do not realize is that if you bought at peak price of 20k, you would still make 2x now or 3x at the peak point, that is still a huge amount, we are talking about yearly big gains if you could have just waited. So at the bottom price or at the peak price in any case you would be profiting a lot if you could have waited. This is why I never sell because it is going down, I did had periods when I sold to buy stuff but I never sell for trading, I know that as long as I hold, I will be in profit.