It’s in the Tough Times That Your Confidence Level in Bitcoin Will Really Emerge.

We are in the middle of one of those moments.

This issue of In Bitcoin We Trust Newsletter is for all subscribers. To get more insights on Bitcoin, you may be interested to upgrade to the premium package.

---

I just came across a composite of two photos showing Volodymyr Zelenskyy before and after. The first photo shows Volodymyr Zelenskyy during his inauguration as president of Ukraine on May 20, 2019. The second shows Volodymyr Zelenskyy in May 2022 while acting as a warlord to give courage to an entire country in the face of the Russian invasion.

Here is this assembly:

On the one hand, you see a comedian who had just entered politics with an anti-corruption platform and had won a large victory at the polls. A young man that Vladimir Putin thought he could only take one bite out of.

One of Putin's assumptions before the start of his invasion was that Zelenskyy would prove weak and leave Ukraine quickly after the Russian army entered its territory. Seeing the photo, one can indeed understand why Putin imagined this.

Looking at the picture on the right, we see a completely different man. It looks like he took 10 years, while only 3 years have passed. If Putin had seen this man inducted in 2019, it is quite likely that he would never have made such an assumption.

The determined right-wing man refused to leave Ukraine in February 2022 when the Western powers offered him to leave for safety. This man preferred to stay with his people to be a leader by example. A real warlord.

We will never know what difference this made for the Ukrainian soldiers and the Ukrainian population, but we can imagine that they were galvanized to see Zelenskyy stay by their side rather than choosing to flee from Vladimir Putin and his army.

I mention this because seeing these two pictures of Zelenskyy reminds us that we should always beware of appearances.

Someone may look weak to you, but it is only in the midst of a crisis that you will see who he is. Only a crisis can reveal a politician. Someone may look tough and strong but crumble before the enemy. You have no guarantees until the crisis occurs.

I think the comparison is quite appropriate, proportionately of course, with Bitcoin, or even the investment world in general.

In 2020 and 2021, you had a generalized Bull Market due to the ultra-accommodative monetary policies of the Fed and other central banks. In this type of market, everyone is a genius. It is easy to make a profit during such a bull market euphoria. Everyone forgets to look at the fundamentals. This is the most important thing to do if you want to profit from Bitcoin in the long run.

I still remember being called a pessimist in 2021 when I said that the price of Bitcoin would crash by 50% again in the future, as this was something inherent in a free market where investors' emotions accentuate falls or rises. This is nothing extraordinary, but some people refused to believe it.

These same people claimed to have complete confidence in Bitcoin.

However, as with Volodymyr Zelenskyy, you can't know how much confidence you have in the Bitcoin revolution until you've been through a crisis like the one we're going through now. Only when the price of Bitcoin drops by more than 50% and the market sees red will you be able to discover your reactions.

You will then see if your logical reasoning allows you to dominate your emotions or not. You will then see if you can see this price crash as an opportunity. For Bitcoiners who have been around for several years, it's an opportunity of course.

For the latest entrants to the Bitcoin revolution, this is the moment of truth that will reveal their relationship to Bitcoin. Just as Volodymyr Zelenskyy revealed himself as a true leader of the Ukrainian people, you must now learn more about yourself.

Because that's how the truth comes out: in difficult times.

Since you keep reading what I write, I think you have just passed your test. Rest assured, red weeks never last forever in the Bitcoin world. The best is yet to come in the future, and your patience will be rewarded.

---

Some reading

• Watching the War in Ukraine, China Is Learning Lessons and Preparing for Its Invasion of Taiwan. America and Europe must also start preparing ...

• Anybody Can Build a Crypto, but Not Bitcoin. The real revolution is Bitcoin, not cryptocurrencies.

• $69K Bitcoin vs. $30K Bitcoin: Different Price, but Same Code and Guarantees on the Protocol. Step back to see the bigger picture.

• 10 Companies Billionaires Like Jeff Bezos and Warren Buffett Are Investing To Hedge Against Inflation. This will give you some ideas for your future investments.

• Bitcoin Posts 8th Weekly Red Candle – Is the Market About To Make a Decision? Bitcoin continues to stagnate around the $30K mark.