I don't think so. It was always going to be the bottomish - unless Bitcoin failed completely, which wasn't likely to happen.

Not likely but it was possible. Institutional FOMO had not been a thing at the point. The pandemic had derailed the entire economy. The discussion at the time was whether retail investors would be forced to pull out they money as mass unemployment loomed.

At the time, we could have afforded "to lose" it as we would have had almost a year for recovery into what was already looking like a bull setup. We could have also adjusted if it had dropped further - but say it halved again in price from there, the most we would have lost is about 3000€ - which considering the value of the entire renovation, is a kick, but not catastrophic.

That's good to hear.

"Money printing at the scale we have see this year does that."

And the problem is "playing it safe" is saving - and without market/ money understanding, it feels like the right thing to do. Understanding crypto for example, would increase the odds that a person would see the cost of inflation. Literacy goes a long way - but you have to learn to read, which takes effort.

Bitcoin has been battle tested to a greater extent. Right as we speak, it is proving to be a bet against the current order Wall Street seems to be willing to make.

The cost of not playing the game right now is really not a cost in terms of rising consumer prices but an opportunity cost. The excess money printed seems to stay within the financial market without affecting consumer prices very much. The only impact seems to be through persistently low interest rates and governments being able to take on unforeseen levels of debt allowing them to meet their welfare spending obligations. Other than that, the cost is mostly invisible.