You're right of course. The market is wrong way more than its right. But its always right in the trivial sense that if you're on the wrong side, the market will always win and you will always lose.
The market is irrational way more often than it is rational. So the naive belief that markets out of whack will harmlessly and spontaneously seek some mythical equilibrium is at best a belief with a very low probability of proving correct, and most likely nonsense.
By the way, you do realize crypto has nothing to do with real markets in the sense that one can not invest in crypto and one can not trade crypto? Oh, I know many foolishly try, but when they do they might as well be playing Bingo. And, Yes, people do get lucky at Bingo, or shall we say a manipulated version of Bingo where you are more likely to land on some squares rather than others. But you won't know that of course. Crypto is useful if you want to buy something of questionable legality or moral rectitude and you don't want others to know you did it...
Last edited:
