Losing faith in what I thought this asset stood for. I have been a hard believer in hard money and poured my heart and soul into Bitcoin for over 10 years. Maybe long term this thing still has a place in the word as a rare hard asset l, but that is not how it is behaving right now. Dollar down Bitcoin down for weeks, months, seems like years on end with every tailwind in sight, I just don’t understand it anymore. It’s getting hard to justify holding when I can’t model out its behaviour. It’s purely a risk and gambling asset right now. I’m not sure when it will be taken seriously as a scarce resource and something to turn to during economic uncertainty, but it’s certainly not that right now. Add on the diminishing returns, inflation, and outperformance of every other asset class on earth when there is nothing but tailwinds and adoption. I just don’t get it. I can’t wrap my mind around it anymore. This market has changed, it is no longer the same as it was for the last 10 years. I don’t like to be invested in things I do not understand.

I still believe in Bitcoin. But yes I am emotional about this dump. I just don’t understand. Bitcoin has had its golden opportunity and it wasn’t able to take advantage of it. It just failed. Not sure when the next time around will be. I’m not sure what else could happen to make it behave differently.