Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
Wherever the wealth of man is, there his life is. No matter how you will try to paint it, anyone that bought bitcoin at $69,000 will never be at ease at this time. In as much as we are aware that bitcoin will rebounce and still beat the ATH of $69k, it doesn't necessarily mean that we should enjoy our lives during adversity. No one knows if bitcoin will get to $2k dollars and no one knows how long it will take to appreciate again, that is why the rule to invest what you are able to lose still applies to bitcoin.
Anyone that has enough to take care of himself and his family should not be bothered much bitcoin bitcoin is compulsorily entering bull. But for those who came to multiply in order to have what to sustain the family with, my prayer goes to you all. You can bear the hard time now, but joy cometh in the morning.
Your hypothetical is a wee bit unrealistic. Yes.. people invest everything at the top and then whine because it did not work out, but that is not the base case.. but instead an outlier and/or should be considered as such.. or at least not any kind of best practice to work your finances in such a way that you seem to be suggesting as a kind of base case scenario.
For example, let's say that in November 2021, a bitcoin newbie had an investment lump sum of $6k that they could dedicate towards bitcoin, and they had $1k per month of extra cash that they could put towards bitcoin. Are you taking the position that they put all $7k into bitcoin at $69k and then just sat around for the past 7-8 months whining about how much money they lost including that they had another $6-7k come in (at $1k per month) that they could have put into bitcoin?
That sounds like a blind gambler to me. I am not proclaiming that anyone who got into bitcoin in the last 1.5 years is not in the negative price territory.. but you leave a lot of presumptions regarding how dire the situation may well happen to be.. I do agree with your suggesting that this situation may show us that there may well have been a need to have had been measured in the way that any bitcoin newbies should have invested into bitcoin in the last year and a half.. The ones who are likely getting punished in current times are those who went balls to the walls and leveraged in various ways that were beyond their means to service such leveraging outside presuming that the bitcoin's price has to go up for them to be able to service their leveraged position.