Released on the Netflix platform in mid-September 2021, the South Korean series "Squid Game" has achieved extraordinary global success to the point of becoming the most-watched series in the world.
Squid Game will soon exceed 100 million viewers for revenue that will likely reach one billion dollars. This is the phenomenon of the fall of streaming platforms.
In the Squid Game, candidates up to their necks must participate in games to try to win a financial jackpot that will allow them to get back on their feet and then lead a comfortable life. A way to criticize the growing inequality in South Korea with people getting richer and richer finding nothing better to do than to entertain the misery of people getting further and further in debt.
It is also a way to expose the human nature that drives us to be willing to do anything for money.
"Red Light, Green Light," played in the Squid Game series, puts candidates' lives in danger at the slightest sign of panic
The subtlety of the Squid Game is that the games offered to candidates are games they played during their childhood. For example, the first game suggested is "Red Light, Green Light". This game has various names around the world. Some know it as "Statues", others as "Grandma's Steps", but ultimately the principle is the same.
Here are the general rules of the game as defined in Wikipedia :
- One starts as "Curator" (It, Grandma, Pooh, etc.) and stands at the end of the field. Everyone else playing stands at the far end (distance depends on the play area chosen). The object of the game is for the "Statue" to mark the Curator, thus becoming the Curator and resetting the game.
- The Curator turns his back to the field and the "Statues" try to run over and tag the Curator.
- Whenever the Curator turns, the Statues must freeze in position and hold it while the Curator looks at them. The Curator may even be allowed to walk around the Statues and look at them. However, the Curator must be careful - any time the Curator's back is turned, the Statues may move.
- If the statue is caught moving, they return to the starting line to start again, or are eliminated.
This game, which is fun for kids, becomes much riskier in Squid Game, as the eliminated people are simply killed on the playing field without any discussion.
You can lose everything at any time if you panic. To risk your life in this way for money shows you the state of desperation in which candidates agree to play this game.
Your life is not at stake in the world of bitcoin, but your money is if you panic
After telling you about that first squid game, you might be wondering what I'm getting at. Really, this article should be about bitcoin, and I'm telling you about the Squid Game series.
Well, you'll see immediately why I wanted to draw this striking parallel.
It's October 27, 2021 and the price of bitcoin just dropped in a matter of minutes from $63K to $58K in a move that panicked many investors. Investors who saw bitcoin beat a new ATH (All-Time High) just a week ago at $67K.
In their minds then, bitcoin was expected to jump to $100,000 in a parabolic fashion. These people forget that nothing happens like that in the bitcoin world. Volatility is a feature and you have to be able to deal with it to keep your head.
If you can't control your emotions with bitcoin, then you will panic and get screwed. Just like the contestants on Squid Game. Of course, you won't get killed and that's okay!
However, you will sell your bitcoins at a loss and lose money while bitcoin is there to allow you to protect your money from the current flawed, irredeemable, monetary and financial system.
To protect your money, however, you must control your emotions at all times. You have to accept that Bitcoin is an incredible monetary revolution that will take time . The current price drop should be seen as an opportunity to accumulate more BTC, not as a time to panic.
Such liquidation in the current environment should be seen as an opportunity with bitcoin
Those who are confident in bitcoin will seize the opportunity to accumulate more for the phenomenal fourth quarter of 2021 that awaits bitcoin. The rest of us will be screwed.
To go back in detail to the bitcoin price drop we just witnessed, it was a massive liquidation of long positions: over $140 million was liquidated in just one hour:
Something important, but as you can see on this chart, this is something that happens from time to time.
You have to be prepared for that. The price of bitcoin will resume its rise in the coming days. This is my feeling and this is the feeling of all bitcoins. So no need to panic, just to be patient.
As always with bitcoin, because patience is always rewarded in this revolution.