Great stuff. I’m tortured by this (I say that in jest) feeling of the bottom must be near but who knows when and it definitely could go lower but it’s gotta go up eventually but what if it languishes for another 5 years but that seems so unlikely but but but
I feel renewed optimism looking at some of these mood data points because it confirms that other people are feeling very similar things in the market that I am (as I have extremely similar sentiments personally to you).
It's so much easier to feel this kind of way after price has been consistently down for 9 months... And it's so hard to envision negative price action when price is up for 9 months.
“Near the bottom, they delay buying because the cycle owes them more downside”
This one is more insidious than feeling owed more upside during the bull imho. Bearishness feels smart, smarter than gigabullishness does at least, which makes it even more blinding.
Great piece as always! I can’t wait for October if only to see these discussions resolve.
That's a great point, there's definitely something interesting about feeling smarter by being bearish.
It's reminiscent of people erring on the side of cynicism because that seems like it's the more intellectually superior approach.
Appreciate the kind words. Hopefully we get to watch some of these levels play out, but who knows, Bitcoin always has a way of humbling us and I'm expecting nothing less 😂
Great stuff. I’m tortured by this (I say that in jest) feeling of the bottom must be near but who knows when and it definitely could go lower but it’s gotta go up eventually but what if it languishes for another 5 years but that seems so unlikely but but but
I feel renewed optimism looking at some of these mood data points because it confirms that other people are feeling very similar things in the market that I am (as I have extremely similar sentiments personally to you).
It's so much easier to feel this kind of way after price has been consistently down for 9 months... And it's so hard to envision negative price action when price is up for 9 months.
Seems so simple, still not always easy 😂
“Near the bottom, they delay buying because the cycle owes them more downside”
This one is more insidious than feeling owed more upside during the bull imho. Bearishness feels smart, smarter than gigabullishness does at least, which makes it even more blinding.
Great piece as always! I can’t wait for October if only to see these discussions resolve.
That's a great point, there's definitely something interesting about feeling smarter by being bearish.
It's reminiscent of people erring on the side of cynicism because that seems like it's the more intellectually superior approach.
Appreciate the kind words. Hopefully we get to watch some of these levels play out, but who knows, Bitcoin always has a way of humbling us and I'm expecting nothing less 😂