a rant

I am in my mid 30s and have been lucky enough to see three major cycles-housing, tech, and crypto.

Disclaimer-not investing advice, yada yada yada

I will tell you one thing-the people I know with real money are buying bitcoin. The people will kind of real money-well, they are buying bitcoin, and trying to buy more. And the people without money but with good income-well, a lot of them are waiting to buy bitcoin. And, they will blame everyone but themselves when bitcoin goes to $200k, or they will not dollar cost average, yolo in at 55k, see a 2k drop, panic sell, etc.

For the younger generation that had the guts to buy this when it crapped the bed-good for you. I wish lambos, mansions, and wealth upon you and your families.

The real challenge is most people with a higher than average income think they are smart, that they can time markets, etc. It is the most ridiculous thing-but I am starting to realize it's very common.

Bitcoin reminds me of housing in 2014-2015-at this point, most people turned bearish, waiting for the next crash. What they didn't understand at the time, nor did I, was why it was happening-massive debasement and lowering of rates. If you haven't figured it out, the government will go crazy trying to prevent a crash. Just wait till the REAL money printing starts. IMHO, bitcoin is about to leave orbit.

Submitted February 14, 2021 at 12:13PM by mrbiggelsworth07 https://ift.tt/3qnVeNG