Retail investors have historically driven Bitcoin's biggest rallies, but this cycle saw almost no retail participation. The lack of a compelling narrative, a missing alt-season and the perception that Bitcoin was merely "okay" compared with soaring AI-related stocks kept everyday investors on the sidelines.
View full episode →“Intuition is a subconscious aggregation of relevant data, not a mystical ability”
“Out‑of‑sample R‑squared in finance is typically 0.03‑0.04, indicating very low predictive power”
“Confirmation bias, recency bias, and gambler’s fallacy are amplified when traders over‑interpret small sample results”