Crypto is up again. Nobody saw it coming. Except the last time. And the time before that. At this point, "we're in a bear market forever" is just something people say between all-time highs so they feel smart when it rips.
The cycle is clockwork: crash 80%, Twitter declares it dead, three developers quit to sell candles, CNBC runs the obituary, and then six months later a 19-year-old is posting screenshots of his Coinbase account like it's proof of God. It's the same movie every eighteen months, just with a different cast of influencers getting liquidated.
The funniest part? The people who bought at the top last cycle are now calling themselves "long-term investors" as if that was always the plan. Sir, you panic-sold at $16k and bought back at $58k. Your investment thesis is Stockholm syndrome.
Meanwhile the institutions who spent five years calling Bitcoin a Ponzi are now running ETFs, writing white papers about "digital gold," and attending conferences with names like "Building the Decentralized Future." Translation: we missed it, we're in now, please stop tweeting at us.
It's not an asset class. It's a shared delusion with excellent returns. Respect.
