The more intensely we long for things, the more they tend to elude us. Most of us have experienced this at some point in our lives (I certainly have).
The beautiful woman who senses desperation rejects you. The fisherman who doesn't care whether he catches anything always brings in the most fish.
Would it surprise you if I said that the exact same dynamic exists in relationship to the Bitcoin price?
Would it surprise you if I said that this seemingly "woo-woo" idea was quantifiable?
It sure as hell surprised me.
See there are small cues that exist embedded inside the words we use to communicate with one another. Little language tells that uncover underlying emotions and give us cues to what individuals are feeling.
Most of the time this happens subconsciously... but it does happen, and you can measure it based on the words people choose over time.
I've done this across the Bitcoin ecosystem with nearly 30 different emotional profiles, but the most interesting one IMO is "desire".
I didn't go into this little experiment with any expectations.
I just wanted to observe which emotions the crowd was feeling, and whether any of them might be correlated to the Bitcoin price in interesting ways.
Then I saw this chart.
High desire (gold) in bull markets often directly preceded large sell offs.
Low levels of desire (blue) in bear markets often marked fantastic buying opportunities.
There are potential logical reasons for this (my most recent newsletter goes deep into this) but I can't help but to keep thinking about some of these phrases that spiritual teachers and philosophers have echoed for millennia.
"To come to possess all, desire to possess nothing."
"One who gives up material desires and ego attains perfect peace."
"Freedom is secured not by the fulfilling of men's desires, but by the removal of desire."
I've seen this advice play out in my own life as I've grown to have more faith as I move through life and embrace the weirdness of my own life journey, but I'd never expected to see it show up in data like this.
But maybe I should have?
Language and story are a much more profound technology than most people realize. There is a lot more hidden beneath the surface in each of us.
Anyways... I'll let you develop your own opinions about what this all means.
But I personally find the fact that Bitcoiners are using some of the lowest levels of "desiring" language on record to be quite bullish for the orange coin.
Hope this hits a little different than the other Bitcoin price charts you're seeing on the timeline today.
Cheers ✌️