> A bunch of people losing their shirts doesn't seem like it's going to motivate more people to buy in It will if they're smart enough to ask "why" people lost

> A bunch of people losing their shirts doesn't seem like it's going to motivate more people to buy in It will if they're smart enough to ask "why" people lost their shirts and take the POV of someone like John Templeton. The best time to buy is when everyone else is panicking or ignoring an asset you view as undervalued. Just like the stock market, though, that's not likely to happen. Most people are controlled by emotions, not logic, and so miss out on many opportunities.