We are at the stage where people I really respect - mean reversionists, value players and rationalists are urging caution in bitcoin.

However, I think reflexivity here is stronger than they can ever possibly imagine. There will be sharp sell offs on negative new and also on no news but people will hope for even better entry on sharp dips and miss it. 1/

And then bitcoin will climb the wall of fear and eventually transition to scale the cliff of incredulity.

This is the most reflexive set up I’ve ever seen in my life. Even wild eyed bulls will shake their heads in dismay.

I won’t be easy to hold on.

It also won’t be easy to know when to get off...

And therein lies the problem for all of us who aren’t aiming yet for hyper-bitcoinalisation.

Maybe the big test will come from stable coins, regulation or just the wall of fear, or maybe even harder, no corrections.

Have a take some off the table plan at some point and also a run the rest of it to the moon plan.

It’s still early days yet however.... too early for a plan except buy any dip.

Same for ETH. Maybe even more so...