Excerpt from a YouTube video discussing Bitcoin’s unpredictable price moves and the speaker’s reaction. The speaker says they had been bullish (expected up to ~$70k) but were surprised by a sharp downward move; they emphasize that Bitcoin can move unpredictably, note that broad market bearishness often makes them feel bullish, caution against herd behavior, and say the market may be entering uncharted territory though they won't yet call a bear market.
I was one of the people who was saying, I think this thing can go to 70k. And I was still surprised to see it move how it did down right. So I didn't really think that was going to happen, and it did. So, you know, it's just, again, one of those things where I always say bitcoin can do anything at any time for any reason, but we're definitely in an interesting space. And another thing, I guess, is that usually when the whole market is bearish, that makes me feel very, very bullish. So that is kind of playing on my mind as well. You know, I don't want to be a sheep. And. And definitely, you know, most people's conviction will drop every time bitcoin does this, and then they'll short and then bitcoin will pump back up. So, you know, I'm not ready to say it's the bear market yet, but I definitely think that we are moving into some uncharted territory here, and it's going to be interesting to see what actually happens.
