consider the psych concept of anchoring

BitcoinBitcoin
$18,982.19
‑0.51%
20D Ago
self.Bitcoin
It's used all the time in advertising. Take a donald trump doll with a normal market price of $5,000. Mark it at $10,000 and then say it's 40% off. Many people will see that add, anchor their price expectation at $10,000, and then think they're getting a great deal on a donald trump doll at $6,000. Bitcoin was 69k less than a year ago and now it's only 20k. Wow! See what I'm doing here? 69k was at the height of speculative mania during the culmination of the greatest amount of qe in us history. Is that really a good anchor point? How about 6k 3 years ago? How about 1k 6 years ago? How about $1 12 years ago? Free your mind and your ass will follow.