Every bull market rises amidst disbelief, reaching new highs in the hesitation of 'Shouldn't it have peaked by now?'
At first, everyone is cautious, shouting bubbles and urging to sell, but the market won't stop climbing just because you are rational. The real main wave often makes you question life, wonder if the whales are crazy, or if the quantitative robots are malfunctioning—only then do you realize you've been standing on the sidelines watching the excitement.
The real bubble occurs when everyone starts to FOMO, even those who weren't interested in coins are asking if they can still get in. This is not the current stage, where everyone is still discussing reasonable valuations, whether it has risen too much and should correct, or if the bull market is over.
The whales haven't exited yet, while a group of small smart ones are rushing to call the top and leave.
In a bull market, it’s not fear of madness that matters; it’s being too 'rational' that is most concerning.
