Speaker 2
I created this gif, which sos all the bithcoing bubbles, if you won't recall them. And it's like, what, six of them already, and each one was like order of magnitude bigger than the last one. So after like, five or six times, people kind of learned this pattern, and they expect it to occur again. So when when su says that, you know, now the pattern will be broken, is actually pretty bolt claiman. And people are getting ready for another, like bermarquet, you know, for another minus 80 ent, because they've already seen it in the past couple of times a so when you are betting against that, you are betting not just against, like, it on objectively happening, but against the narrative as well. Because when people expect it to happen, it can become a sol fulfilling prophecy, which, you know, if enough people wait for it to happen, then, you know, when bitgon will grow high enough. We now, some people may just, you know, make it happen by having, ich, a trigger finger, renges, you know, a sell they lold. So it is actually very hard to bet against this narrative. Not not the objective reality that makes sense, that crypto is here to stay in and to change the world in a meaningful way, but the narrative is still very strong among many, even big bag holders, that may turn the tiht just by, you know, soming,
Speaker 1
you you're betting against a very powerful, ironic name of this time is different, s riht, that actually brinks us back t like a kind of narrative investing and reflectivity rigt just because people believe something will happen, that can make it happen. And that's kind of, that's one thing that i actually took away from your article as well, and that i also strongly believe in the bubble theory of money. Read, bitqen is, or like money is the bubble that never pops. Read, it just, it keeps growing as a bubble. And like, when it's large enough, then it doesnt need to pop, because it has become useful, red, because it actually is liquid. Andnd is a network of people to transact. Read em. So what do you think we can learn from em, this analysis of me and reflectivity and narrative about investing in the crypto markets?
