Yeah bitcoin ETFs now $2.5b for month and one good day away from completely digging out of their YTD flow hole. $IBIT is already there and then some, in top 2% among all ETFs in YTD flows. Again, incredible fortitude in face of 40% 6mo price drop and widespread media pile on. For context, when gold fell 40% in short time frame about 10yrs ago, it saw 1/3 of its investors bail (not that that's bad either, that's normal, btc is just abnormal)
"Every creature in the universe, every bird in the trees, every fish in the seas, has to live with scarcity, maximizing use of scarce resources."
"The only creature who doesn't do that, is the politician, because he's always using someone else's money."
@kofinas we live in a time when people are not willing to consider the possibility of something working out if the plan used to get there does not align with their personal preference.
If you bought Bitcoin at $20,000.
And thought the top was $126,000.
Thought you were a genius and decided to "trade to acquire more Bitcoin".
So you sold at say $110,000 - no one times the top.
With a 20% tax liability.
You would have to pay a tax of $18,000.
This means, you only start net acquiring MORE Bitcoin, if you buy $1 below $92,000.
That is timing a 27% correction from the top - just to START making more Bitcoin.
Likelihood is, Bitcoin dropped to $60,000.
You said, it's going to $45,000.
Bitcoin will rally to $100,000.
You will think the dead cat is bouncing once again because - how in the world could your magic lines be wrong.
And then Bitcoin will accelerate to new all time highs.
And you'll tell your me and your family about how you never wanted that Bitcoin in the first place and decided to make some "lifestyle" upgrades.
After you miss the boat to the upside.
Mark my words - 99.9% of people that sold Bitcoin to "acquire more Bitcoin".
Will NEVER buy that Bitcoin back - their ego won't let them.
It's over for them - and the data shows it.