From "Bearish" to "Bullish": How Bitcoin Has Changed Market Participants' Judgments

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[Crypto World] Do you remember that market commentator who was bearish on Bitcoin at the end of 2022? At that time, he liquidated all his holdings at a price of $16,800, mainly scared by the FTX crash. And what happened next? After a few years, Bitcoin has risen from that level to nearly $86,800 — this guy’s timing was terribly off. Even more ironic, this same person has now become a Bitcoin cheerleader. He started advocating Bitcoin as a hedge against US debt risk, speaking so confidently as if he had never wavered. Of course, his logic isn’t entirely unreasonable — in an era of mounting debt pressure, allocating some non-sovereign assets does make sense. But what’s interesting is that Bitcoin is still 31% below its all-time high in 2021, yet that doesn’t seem to dampen his enthusiasm. Sometimes, market sentiment reversal can be so dramatic.

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SchrodingersPapervip
· 15h ago
Haha, isn't this just a microcosm of our circle, a master of riding the wind and adjusting the sails... Wait, now he's promoting hedging against government bond risks? That's hilarious. The excuse is quite smooth, and he turned around so quickly... The opportunity to buy the dip at 16800 was missed so painfully, it must be really frustrating. No wonder he's now pumping aggressively... I do believe in his logic this time, but the key question is—does he even have the face to pretend to be serious? Is admitting defeat so hard? Does he have to package it as some macro strategy to keep muddling through...
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GateUser-1a2ed0b9vip
· 15h ago
It's really a classic case of "selling the ripened leek and then preaching," just look at this reversal speed—talent indeed.
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just_vibin_onchainvip
· 15h ago
Haha, this guy really knows how to change his tune. The courage to scare away FTX has now returned.
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LucidSleepwalkervip
· 15h ago
Haha, this guy bought the dip at 16,800 and sold the top—really impressive. Now he's starting to tell stories again; I can tell he's experienced.
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AirdropBlackHolevip
· 15h ago
Haha, there are indeed many people like this. Bought the dip at 16,800, cut losses, and now they're starting to hype it up again. I've seen enough.
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DefiPlaybookvip
· 15h ago
According to on-chain data, this guy's timing failure rate is about 5.17 times higher, roughly the opposite of random selection. What's even more interesting is that he didn't catch the rise from 16,800 to 86,800—essentially a textbook example of a live "contrarian indicator." It is worth noting that currently promoting the narrative of US debt hedging, the logical framework itself is fine, but rebranding and pushing this set is a classic survivor bias. Risk warning: don't be fooled by this kind of viewpoint reversal. What does the 31% discount at the current high tell us? It indicates that the current price may still lack stability.
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