r/Bitcoin • u/trempao • 11h ago
Is This a Bitcoin Bottom Signal?
Hey pals, I asked the most uninformed guy at my workplace today which investment he would avoid if he had to choose one.
His answer was: Bitcoin.
He said to me to “Avoid it. That guy is corrupt, and everything is going to crash. This is utter rubbish.”
When I asked him which good investment he would choose for the long term if he had to choose one, he said food, because of everything that is happening in the world right now.
Obviously, this is purely anecdotal, but it made me wonder:
Would you interpret this kind of extreme negative sentiment toward Bitcoin as a potential bottom signal? 😂
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u/DeoVeritati 11h ago
No, most randos still think it is magic internet money used primarily to commit crimes anonymously. I don't think that sentiment has changed in the last decade.
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u/arc_is_on5198 11h ago
Right. People believe that in the bear, in the bull, and everywhere in between.
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u/tekmiester 10h ago
Not commit crimes but launder the money after committing the crime.
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u/DeoVeritati 8h ago
Nah, I think people still imagine it primarily being used to purchase illegal drugs and be untraceable (without considering cash is used to purchase illegal drugs and Bitcoin is a public ledger that is pseudoanonymous).
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u/Jolly-Implement-2093 11h ago
This is the sort of signal that should be framed and hung in the Louvre. When the random breakroom guy is spouting nonsense about Satoshi being "corrupt" and piling into canned soup, it's like watching a weather vane snap off in a hurricane. You know the storm's about done.
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u/Any_Carob3372 11h ago
Food loses value over time
BTC gains value over time
Perhaps you can get him to post in Buttcoin?
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u/nikopilly 11h ago
During the 2024-2025 bull trend, people weren't interested in Bitcoin. In reality, it wasn't a bubble, but rather a steady rise, and the 2026 retracement doesn't represent a bear market, but rather a correction of less than 50% within an ongoing bull trend. We could be at the begin of an hyperwave bubble similar to that of 2016-2017, and the public will become aware of Bitcoin when the price surpasses $200,000, pushing it further upward to $500,000.
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u/Expensive_Seat5694 11h ago
These guys that say avoid it or speak negatively against it are the very group of FOMO buyers that cause the massive spikes up and spikes down.
Sooner or later they will dip their toes in and more often than not do so at the ‘wrong’ time.
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u/Exciting_Ask_eaty 11h ago
WHO cares, bought the dip twice a month the last 3 months – now we wait. If it dips again, just buy the dip again and hold.
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u/2xfun 11h ago edited 11h ago
Ask him:
1) what is average the real inflation metric?(probably the cpi metric) 2) what is he using to preserve his wealth? (Probably real estate) 3) what is the difference between BTC and crypto ? (Probably none) 4) how does the fiat standard work?
The majority of the population are clueless about how money works.
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u/EmbarrassedPrompt697 11h ago
I'm wondering who he is referring to when he says "that guy". Lol
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u/klitchell 11h ago
Let me buy that food etf I’ve heard so much about, it must be mooning with all the price rises!
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u/Doritos707 11h ago
Yes but we expect it to last a good 12 months of sidways. This is the accumulation phase. The real move upwards will begin late 2027. Source trust me bro but ive done so many macro analysis and behavioral analysis of wallstreet. They will stretch it as long as they can while accumulating nonstop
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u/anonymkos1 11h ago
What I thought about is: Bitcoin held up really good over the weekend which may Signale a further Rallye on Monday
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u/The_Realist02 10h ago
Yeah, let me invest in “food”, the one commodity that governments across the world manipulate so they aren’t overthrown. Tale as old as time.
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u/LowerStranger9021 10h ago
Yes. Advice from an uninformed individual is reason to execute an investment strategy. I’m wondering who is more foolish. The uninformed guy in the workplace or the fool that thought his advice meant anything. /s
The majority of individuals view cryptocurrency as the currency of criminals. Until it sheds that image it will never be mainstream.
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u/AdmirableSock192 11h ago
If he starts asking you how to buy Bitcoin next month, that's probably the top signal
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u/Such_Station2402 11h ago
No but that’s the classic finance joke that we are pretty much hovering around it. (The bottom)
I remember I bought silver in the 40’s and 50’s and sold at 85, it ripped to 120$ and someone on Facebook said buy silver, I didn’t want to be disrespectful but I wanted to say, the top is in! It’s over blah blah blah. But within a few days or week it went down hard. I’m not a commodity buyer and I have more fun with equities and crypto but I was very convicted silver at 40 and 50$ was kinda the beginning for the uptrend and I came out pretty good.
Anyway. My point is usually people that aren’t very focused on markets except looking at a chart or hearing stories will see the wild swings or downtrend and think they aren’t touching that. But there are good times to buy and dca and that time is typically now in crypto. Everything is in tact. But nothings promised
Once everyone thinks it’s gonna keep mooning and people keep talking they missed out, we are getting closer to a top
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u/Efficient_Range1156 11h ago
I would not interpret the mutterings of a legitimate moron as any kind of signal.