The Pomp Podcast #1444 Anthony Pompliano & Phil Rosen | Why Is Bitcoin Crashing Right Now?!
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Nov 26, 2024 
Phil Rosen, Co-founder and editor-in-chief of Opening Bell Daily, joins Anthony Pompliano, author and CEO, to dive deep into the recent Bitcoin crash. They discuss the psychological effects on investors facing volatility and the contrasting mindsets of traditional finance versus retail traders. The conversation also highlights MicroStrategy's bold Bitcoin gamble and the intricate link between Bitcoin prices and global liquidity. Listeners gain insights into evolving financial strategies and the importance of competition in the free market.
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Bitcoin Price Volatility
- Bitcoin's price volatility is normal; recent drops are minor compared to past trends and even last week's all-time high.
- Emotional reactions to short-term price fluctuations are common, but long-term perspective is key.
Bitcoin Adoption Motivation
- Most initial Bitcoin buyers are motivated by profit, not ideology.
- Price increases drive attention, leading to wider adoption and subsequent learning.
Building Conviction in Bitcoin
- Conviction in anything comes from testing and experiencing both good and bad times.
- Bitcoin price fluctuations strengthen the conviction of holders, similar to building bonds in a team or testing faith.