*Bitcoin drops 10%* - "I'll wait for it to drop further"
*Bitcoin drops another 10%* - "it's going to drop more"
*Bitcoin drops another 10%* - "I'll finally buy at another 10% drop"
*Bitcoin drops another 10%* - "looks like it's going to drop further"
*Bitcoin drops another 20%* - "I'm not buying. bitcoin is dead"
*Bitcoin reaches the price floor, then rises slowly for months an months* - "I'll wait for the dip"
- repeat after every halving cycle -
It's the age-old gambling issue, just one more turn of the wheel, just one more shuffle of the cards, and I am a winner. That's just human nature and gambling psychology. So I can't blame people for that, that takes a lot of mental toughness to overcome, and not everyone is up for that. Even if you point that out to them, they can't overcome that step and will continue to do so. But in the end, if they are here for the long run, whatever time they get in is still not late.