Long life friendships do not involve hanging out every weekend, eating beers at barbecues and spending vacations together. The true ones are strong enough to be held alive even when the two friends are thousands of kilometers away from each other. I am not a friendly person and I am proud of that, because I was once such a person and realized it's not for me, but I manage to have two close friends that I keep in touch with, no matter where I go, or where they go.
We're friends for about twenty years and I hope to get old as friends. All the three of us own cryptos, and that's what matters a lot these days. The one that is still living in Romania taught me about crypto, and I taught the other, that is living for more than 15 years in Sweden. Hence, our discussions quite often slide towards this topic, and it is one of my favorite ones, as you could have probably noticed from my blog as well.
I, being highly confident about currently being in a bull market, have pointing out several times when talking with both of them that this year and the next to come will be epic and they're both optimistic about that. The one living in Sweden, owning a small business, doesn't have too much time to check on prices like I do, and so I'm the one updating him through whatsapp messages on what's happening with his ETH.
Last night he called me at about 11:45 PM, knowing that I don't get to bed early, and we mostly talked about cars and crypto, and although he owns four cars and I don't own any we still have plenty of such talks. When it came to crypto and I started getting excited again about the perspectives of the near future that we have, by having invested some money in such assets, he was wondering how it would have been if he had bought crypto of about $100,000 at the beginning of 2019.
My reaction was, that by the end of 2021 he would be quite rich. But on the other hand I'm sure he wouldn't do that, and I wouldn't do that as well, even if I had the money. I'm sure that I wouldn't have bought Bitcoin not even at $100, even if I knew about it back then. Psychology is what's driving the masses and, we the masses, need confirmation. We are most of us buss ticket buyers, and rarely do we even imagine driving Rolls Royces. We need confirmation from others, too often, before jumping into such investments.
My first question, if I would know about Bitcoin when it was $100, would have been: what can I do with it?. Pretty much the same as the non connoisseurs that I try to get into crypto. Rare are the ones that are gifted with vision, and that's why there are very few millionaires and billionaires on this planet. We don't buy when it's scarce and cheap. We do that when it's all over the news.
Hence my friend's reaction towards my suggestion for him to buy more was like: neah... it's too late now. I can't condemn him, because it's his money, and I'm not investing any more money either, I really have about what I can afford to loose, but at the same time I'm amazed on how accurate the psychology of the market is.
When there's blood on the streets nobody buys because they all expect lower lows, when the prices start to create uptrends they're either in disbelief, or waiting for strong corrections like the ones of last year, and after the prices really take off, most of us are becoming witnesses filled with regrets and what ifs. Some get their long awaited confirmations close to the top and they're the most rekt ones. The top buyers that hold all the way up and sell close to the bottom. This way the psychology of the markets spins in cycles, years after years, and nobody can do anything about it.
Fear and greed drive most of the world's population through life, and you don't have to be a genius or a scholar to spot that. Now I know that I don't have $100,000 to buy more crypto, and I understand why my friend, last night, imagined how it would be to own $100,000 worth of crypto, but the truth is that we don't have the Richie rich mentality, we have some leftovers though for the current crypto party and that's not bad either...
Thanks for attention,