The bottom is usually the result of active buying, not passively waiting.

Two years ago, you wanted to buy the bottom below $10,000; last year, you wanted to buy the bottom below $20,000; at the beginning of this year, you wanted to buy the bottom below $30,000; in the first half of the year, you wanted to buy the bottom below $40,000; after June, you want to buy the bottom below $50,000.

Now the market has given you a buying opportunity of $50,000, but you are waiting for $40,000; if the price returns to $40,000, you may still expect $30,000; once it falls to $30,000, you will wait for $20,000, and so on until it returns to zero.

I am not encouraging anyone to buy the bottom blindly, but I am skeptical of the single view that once it falls below a certain price point, it will continue to fall, and once it rises above a certain point, it will continue to rise.

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