Retail investor Bitcoin plan: STEP 1: Buy when the price is at the cycle top because of greed ("I'll just make a few bucks and cash out") STEP 2: Watch the price drop 20-30% STEP 3: Sell at the bottom because of fear ("It's going to zero!") STEP 4: Claim that Bitcoin doesn't work ("What kind of inflation hedge doesn't go up forever?!") STEP 5: Watch the price consolidate near the bottom and get bored ("I'd rather gamble on stocks and real estate because they provide yield") STEP 6: Ignore Bitcoin until the next cycle top, miss out on the majority of returns Repeat STEP 1 Don't let this be you STUDY BITCOIN