I am not a financial nihilist and I reject those that advocate for it, because it goes totally against sound money management principles that use conservative investing values while still seeking for maximum returns.
The nihilists throw all of that out the window.
However, it is a movement that has grown in the financial markets for the past four years – even in the ecosystem of financial gurus.
Fox Business star Charles Payne rejects the movement and he is right, but you need to understand what it is, because of it’s impact on the motivations of so many people who got into the markets in 2020 and afterwards, especially via the mechanism of the trading apps, which encourage people to think like gamblers.
Once you understand it, then you will know the motivations moving the most speculative trading instruments, including Bitcoin.
In order to help you do that I’m going to do something I have never done before and recommend an article written by a bullish Bitcoin guru.
I do not agree with his Bitcoin price predictions, if anything the past few days proves again that Bitcoin IS NOT A SAFE HAVEN, but he lays out the concept of financial nihilism in this article as best as I have yet to see.
You sometimes learn best from reading something written by someone who you disagree with:
-Mike
