Kosta Ouzas connects Rolex purchases to Bitcoin market cycles, arguing that when people buy luxury watches, it signals net realized profits and peak greed. He tracks this as a real indicator of where we are in the cycle, staying bullish long-term despite current fear.
Again, the net realized profits are still quite low, which means that you're not going to have huge whales dumping on the market and cycling back into stablecoins for a prolonged enough period of time to create that bear market effect. So we can have these dump offs. And to come back to that, not really a joke, but when people take profits, what do they do? They go and buy Rolexes. This is just an interesting correlation, not causation, but we're just looking at a few things a little bit out of the ordinary to take some of that fear away, because we are at really big fear levels. So I want to show you why we're personally still have a bullish long term bias based on a few of these things as well.
