The earlier you enter, the greater the return, and the higher the threshold of cognition.

In the past ten years, the asset with the largest increase is not Shanghai houses, but Bitcoin. When a pizza can be exchanged for 10,000 Bitcoins, for most people, this is an asset that they don’t know they don’t know.

Even if someone explains it, they don’t understand it after listening.

When the market is pessimistic, the cost of obtaining information, understanding the framework, and verifying defects is higher.

Most people enter the market when the market is crazy, because this is the time when the resistance is the least.

Just like every round of craziness in the real estate market, it is the stage of making mistakes. Who did the houses in Beisan County, Hainan, Huaqiao, and Zhuhai sell to?

Because of the structure of people’s brains, there is an anchoring effect, and they tend to buy assets that are similar in appearance but lower in price, but they don’t know that the price of cheap assets is much higher than their value.

The bears were crushed by the facts and accepted the valuable assets, but the valuable assets were swept up by emotions and bought regardless of cost, which led to short-term prices higher than the value. Short-term takeover funds could not keep up, causing prices to begin to collapse.

The general public, who did not recognize the value of assets, were just followers and began to stampede and flee. Those who stood by and watched boasted that the market had verified their eternal pessimism.

And value investors began to buy valuable assets at low prices. For value investors, this stage is a suitable entry period, but for everyone, it is a retrograde with a high degree of understanding. #比特币行情 $BTC $ETH