02/28/2025
Yesterday, the Bitcoin Fear & Greed Index hit a level not seen since FTX’s collapse in 2022.
Alex P**n shared this tweet in an email newsletter sent on December 12, 2024.
“I believed then – and still believe now – that these charts are so important. A bitcoin bull market may seem like a no-brainer, but historically that hasn’t been the case. In 2016 and 2017, bitcoin investors experienced six different drawdowns of 35% or more.
In my opinion, investing in bitcoin takes conviction that’s built on a deep understanding of financial systems, macroeconomics, modern portfolio theory, behavioral finance, time preference, the history of money, thermodynamics, statistics, and politics.
If you’ve spent some time studying these things and how they apply to bitcoin, you’re much less likely to be shaken out of your deep-rooted conviction.
If you haven’t studied these things and you’re investing in bitcoin with the goal of making a quick buck, it will probably be difficult for you to be at peace with your investment decision-making, especially during a pullback like this.”
If you want to receive tools, knowledge, and digital asset insights delivered directly to your inbox twice a month, please subscribe here: bit.ly/crossovercapitalsubscribe
