I think we may be witnessing the capitulation of the "get rich quick" folks.
A lot of users in other media, e.g. Reddit, seem to be disappointed with Bitcoin's performance.
Such posts as ...
- Bitcoin isn't the best performing asset anymore!
- If I'd invested in $RAMDOM_ASSET my ROI would be better than now!
- (Even) Gold has performed better than Bitcoin!
and so on.
Sometimes they mix this up with "crypto" - and yeah, there they are quite correct: altcoins performed
really bad in the last years (above all that hyped stuff like Solana which are already down 75%+ from their ATH).
These people have bought Bitcoin only because they wanted to get rich quick. And these times are probably over, because
volatility has dropped. At most you can get a x5 in few years if you're lucky (e.g. if you invested in the 2022 capitulation, when blood was on the streets, just like now, and then sold at the 2025 top).
What might this be telling us? Is this "capitulation" different from other drops where simple angry weak hands ventilated their anger on social media?
I'm still not sure. But it may be simply a stage Bitcoin has to go through before it becomes a really great, and more stable asset, leaving the "get rich quick" period behind and entering the real "digital gold" phase.
This phase can be bumpy. It can lead to new yearly or even multi-year lows, or not. But if Bitcoin is able to recover without the "get rich quick" folks (or at least with a smaller proportion of them), it will be stronger and may become finally a more trustable asset.
Wouldn't Bitcoin have a bigger potential if people didn't fear these big crashes anymore, and investors can recommend it to their parents and grandparents, not only to "dat friend"?
