Pessimists are geniuses in a bear market.
They love to say “I told you so.” They think investing is a PhD sport you participate in to win a fake-gold $15 trophy.
For the critics who think crypto is dead and it’s all over, this one’s for you. Understand crypto will be part of everyone’s financial future.
The crypto gaslighters
The people who said “I told you so” about crypto are pissed.
They wished they had invested in crypto when it was cheap all those years ago. They hate they were wrong. Instead of getting off their asses and taking advantage of the unbelievable discounts, they’re starting wars with tweets.
Pessimism has become a flex.
You get more points to say the US dollar will burn in hell and we’re all gonna get a nuke to the face than to tell the truth.
Whenever I think of a crypto pessimist this quote comes to mind:
Pessimism always sounds smarter than optimism because optimism sounds like a sales pitch while pessimism sounds like someone trying to help you — Morgan Housel
It’s easy to say crypto lovers are “shilling their favorite coins” or running a ponzi scheme or trying to sell you something.
They sound like they’re trying to help you, but really, they’re adult babies that desperately want ‘likes’ on their posts to give them the love their mommy never gave them.
Don’t fall for these jokers.
Bear markets are when millionaires are made
Anyone who comments about short-term prices has a low investing IQ to me.
Pro investors pay zero attention to the short-term. They’re not day trading or going in and out of investments a hundred times a day, which costs fees and triggers capital gains tax. No.
Real crypto investors like me invest for 5+ years.
When I got into crypto in 2013 I had a 10+ year time horizon. Anything earlier than that felt like gambling. And I don’t freaking gamble. Ever.
I’ve dreamt of this moment for a long time. Finally I can accumulate proven cryptos like Ethereum and Bitcoin for low prices. I never thought I’d be so damn lucky.
When all assets are on discount you should be focused on buying, not talking smack online.
The future is clear
I’m no fortune-teller.
One thing I do know for sure is everyone will use crypto like they currently use the internet. It’s so obvious it’s not funny. Don’t forget the crypto revolution started with Bitcoin back in 2008.
We’re 14 years into this new era.
If crypto was dead it would have carked it along with my grandmother all those years ago. Mocking crypto as if it’s not a real asset is like my dead ancestors who wouldn’t accept the car would replace a horse and cart.
Some boomers have told me recently that they don’t think electric cars will ever replace standard cars. LOL.
The problem isn’t crypto.
The problem is humans suck at accepting change.
Innovation always looks scary — it’s supposed to. If you’re scared by new technology then what else are you scared of? Bed bugs.
Enough with the smack talk. Everyone from Formula One, to Starbucks, to Goldman Sachs, to Wall Street bankers, to Disney, Google and even Facebook are balls deep in crypto now. There’s literally no denying it.
Crypto will roar back up again when this happens
The bear market annihilated crypto. It’s not just crypto bros that saw their investments plummet.
Stock market is down. Real estate is down. The bond market is screwed and back at 2008 levels. Inflation is out of control. And interest rates are climbing at the fastest rate in history.
No wonder crypto prices crashed. It’s to be expected. All asset prices are connected to each other whether you like it or not amigo.
The crypto market will go back up again at a record pace (like every other time since 2008) when interest rates stop going up … or when they start plummeting back down.
I know what you’re thinking: “F*ck off Timbo. Interest rates aren’t gonna go down.” They will. The playbook is simple.
As interest rates go up it will continue to break the economy.
The world has record debt which means every man and his dog can’t afford high interest rates. So as the pain starts to come and unemployment rises, the central banks and governments will cut interest rates.
The only reason interest rates went up in the first place is because those in power created records amounts of money out of thin air and gave it out for free as stimulus and disguised as infrastructure bills.
Those in power will get fired if the economic pain is too great.
So when that happens they will cut interest rates and hand out more free money. It’s so damn obvious a blind monkey could see it coming.
When that day happens, crypto prices will roar ahead. I expect us to be in that old familiar world in the next 12 months.
In the meantime, I will continue to dollar-cost average into the top 10 largest cryptos and not give a f*ck about what a bunch of noobs says about crypto.
You can follow the broke and stay broke.
Or you can learn about the technological revolution and why it’s happening (because trust and transparency are broken) and get involved in a small way. The choice is yours.
Crypto is here forever. Profit from it or don’t.
This article is for informational purposes only, it should not be considered financial, tax or legal advice. Consult a financial professional before making any major financial decisions.