being right about bitcoin has never been the hard part staying in the trade long enough to be right is this month made that painfully clear. btc tried to clear its yearly open three times in two weeks failed and slid to $82.7k then $637m in longs got wiped in a day roughly $300m of it inside one hour i'd bet most of those wallets had a solid long term view they weren't wrong about where btc goes they were wrong about how much pain they could sit through on the way there that's the part ct rarely talks about everyone posts the thesis nobody posts the position sizing conviction without structure is just leverage with a nice story attached what i like about how @2FactorFinance frames this is they treat staying invested as something with a real cost time volatility funding drawdowns you pay it one way or another and the market decides when the bill comes due once you look at it like that the question changes it's not am i bullish anymore it's can my position survive the version of the next month i'm not expecting most people only learn that after the margin call a five year thesis is worthless if you don't make it to year two https://t.co/sKrWKXr4dn