On that note: in all channels that I’m following, I’m sensing no panic at all. In some channels the ‘dump’ is not even brought up. That strikes me as positive and supporting the notion that this is just a ‘correction’. A ‘blimp’ as we tend to say after a few years
Of course, this does not include Reddit
Twitter is the worst, so many jealous trolls hating, predicting obscenely low prices. Seeing that kind of pathetic existence really makes me happy that I got in early’ish’ & have built a good stash.
I can’t imagine having the will power to troll & spew spiteful, jealous vitriol all over Twitter about an asset that I wasn’t heavily invested in.
You, LFC, have kind of highlighted why it tends to be so difficult psychologically (and perhaps financially) for a large number of HODLers during the BTC accumulation phase, including the fact that they might not even realize that in the end they are a HODLer and accumulator of BTC....
If a BTC adopter is either early in the accumulation stage and still trying to figure out bitcoin and his/her place in the investment, s/he is likely to be both valuing his/her wealth in dollars and also quite unlikely to have been able to build either a sufficient amount of a profit cushion or even a kind of knowledge base comfort level in order to become a lot more confident that a modest DCA, buy on the MF dips, and HODL remain as the most prudent and practical of longer term strategies.
Another contributory problem is likely that there are NOT too many regular peeps who have ever invested in any kind of an asset that shows paper returns of 50%, 100%, 200% or more in a decently short period of time, and when they see those kinds of returns, they can hardly stop their lil selfies from locking in some profits, which also contributes to their fear when they have seen their profits on paper go from 2x or 4x and all of a sudden only be 80%, and then they end up selling on the dip, while still bragging that they had gotten 80% profits or some other shorter-term valuing their wealth in dollars kind of proclamation.
Yeah, yeah, yeah, it's so god-damned smart to get 80% returns in a short period of time, and then subsequently they realize that they fucked up their whole investment strategy because they stopped DCA'ing, buying on dips and HODLing.. instead they are locked into selling too much too early and they end up fucking themselves psychologically out of a potentially stronger longer-term approach to their BTC portfolio strategy.
Surely, it takes some time for newbies to work out these kinds of bugs, and maybe personally I am becoming more and more inclined to speculate that it may take at least 4-6 years in bitcoin to ween oneself out of potentially problematic thinking and behaviors, and from what we saw in mindrust, even those people who have been working very intently and intensively on weening themselves from bad thinking/practices, have decent chances to devolve into their bad thinking/practices, especially during stressful times.. that sometimes their devolution can take place for several months without their even knowing it, and then all of a sudden they end up doing something stupid, and then doubling down on stupid and then finding almost no way out of a trap that they have kind of created for themselves.
TLDR: Surely takes time (likely years) to learn, develop and put into practice sound and reasonable DCA, buy on the mf dip, and HODL strategies in respect to dee corns.
Poll
