Will you buy the Bitcoin price dip? Here’s the pattern that keeps repeating…

00:01 Will you buy the dip? Bitcoin is dollars
00:04 right now down from its all-time high
00:06 above $126,000.
00:08 So, it is dipping right now. When
00:10 Bitcoin starts to dip, everyone freaks
00:12 out and then when it goes back up,
00:13 everybody thinks they missed out. So,
00:15 here is the classic pattern that repeats
00:17 over and over and over with every
00:19 investment asset since the beginning of
00:21 time. Someone checks the price of the
00:23 asset, it’s gone way up, and they’re
00:24 like, “Oh no, I’ve missed out. Now is a
00:27 ter.” So then the price starts to dip
00:29 and they’re like, “Oh no, something must
00:30 be wrong with that asset. If it’s going
00:32 down, it’s probably going to go down
00:34 more. I probably shouldn’t buy now. I
00:37 should probably wait and see how low it
00:38 goes.” Well, then it rebounds and it
00:40 goes right back up. And they’re like,
00:41 “Oh no, I’ve missed out. Now it’s high
00:44 again. If I were going to buy, I should
00:46 have bought back when it was low. But
00:48 now it’s high again. Now it’s expensive.
00:50 Now I shouldn’t buy.” If I were to ask a
00:53 hundred people or a thousand people at
00:55 Kroger or Costco or Walmart or Target,
00:59 if I showed them the price of Bitcoin on
01:01 any given day, they would conclude one
01:03 of two things. Either it was going up
01:06 and it was already high and that they
01:07 already missed out, or it was going down
01:11 and it was scary and they probably
01:13 shouldn’t buy it right now because it
01:14 might go lower. And it’s really amazing
01:17 that anything ever gets bought when the
01:20 human natural incentive is to not take
01:24 action when the conclusion of your brain
01:26 every time is I should not buy right
01:29 now. Which is why you can’t time the
01:31 market. Which is why I recommend buy as
01:33 much Bitcoin as you can regardless of
01:35 the price. All that matters is the long
01:38 term. Ignore the price in the short
01:40 term. There’s never a bad time to buy
01:42 Bitcoin. And if you let your psych your
01:45 psychology run things, you will always
01:48 conclude that Bitcoin is either going up
01:50 and it’s too expensive and you missed
01:51 out or it’s going down and it’s scary
01:54 and it might go down lower and you
01:55 better wait. In either case, you’ll
01:57 never buy any Bitcoin. So, the way
01:59 investors in any asset make money is to
02:03 buy it and then hold on to it for as
02:05 long as conceivably possible. And the
02:07 money is all made in the waiting, not in
02:09 the trying to time, you know, in or out.
02:13 Same with Bitcoin.