From Gemini, Google’s AI assistant:
“Embrace the suck” is a military phrase meaning to accept and endure unpleasant or difficult situations rather than fight them, often to build resilience and achieve a goal. It involves acknowledging that hardship is inevitable, leaning into discomfort, and finding a sense of purpose or pride in getting through it. The mindset is to accept the suck, but not necessarily enjoy it, and then focus on the steps needed to push through to the other side.
The current market has turned cold on previously hot investment themes such as AI and cryptocurrency. Falling share prices make all of the Negative Nellies on the financial networks and websites jump for joy. They enjoy the pain of others.
Watching Bitcoin’s price has been especially brutal.
After reaching $125,000 in early October, the price dropped precipitously, trading in the low $90,000 range as I write this.
Note: if you have a paid subscription to any of our services you should have received the weekly Premium Digest from Tony Daltorio. In the most recent two issues he goes deep on the subjects of a possible bubble in AI and Bitcoin’s price collapse serving as an indicator for a major stock market pull-back. Both issues should be in your inbox.
But let’s step back and look at the five-year chart:
The Bitcoin price action seems almost destined to wash out the greedy and fearful. Remember, at the highs, there are more buyers than sellers, and during the declines, more sellers than buyers.
If you believe in Bitcoin’s long-term appreciation potential, the current downturn sure looks like a buying opportunity.
The Amplify Bitcoin 2% Monthly Option Income ETF (BITY) is one of the recommended portfolio ETFs for our ETF Income Edge service. For BITY, the fund managers sell call options to earn a 24% annual yield. That level should allow for significant price appreciation when Bitcoin recovers.
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