BoltEdge ⚡️

$IREN investors have been here before... The stock cratered more than most during the recent multi-month corrective period, while lagging behind during the current recovery. This period is eerily similar to last year's April selloff. Sentiment was in the gutter, "wen deal" was spammed under every $IREN post, frustrated investors were calling the CEO names, and with a market cap of just ~$2b at the time, the $1b ATM that was launched in January last year seemed like an insurmountable overhang on the stock. Contrast that with today, and we are almost at the exact same spot. I'd even go as far as saying that emotions are more amplified today than a year ago. With the ticker having gotten more popular, there are now plenty of large accounts taking the opportunity to dunk on the stock, exacerbating negative sentiment. As a seasoned investor, I'm unfazed by these comments. In fact, they are exactly what I'd expect during this time. If you understand market psychology, this is nothing new to you either. Markets are predominantly driven by fear & greed. During market peaks everyone is euphoric and throws caution out the window, while at market bottoms the inverse is true, with investors telling themselves “the market is always right" leading to them selling at the worst possible time. Few people know that during last year's melt up from the April lows of $5 to nearly $80, I grew increasingly cautious about the overly bullish sentiment. Once we crossed $30, the ratio of bull to bear posts on X must have been at least 10:1. Back in late August, I feared a nasty correction was imminent, one that would flush and reset broader investor sentiment. Ironically, my cautiousness came way too early, not in time, but in price, as the stock almost tripled from that point within just weeks. ...Luckily, I don't trade in and out of my core positions, so it didn't cost me anything. But my point is that these market cycles and sentiment shifts are predictable to a great extent. I knew we were going to get this correction. I didn't know exactly when it would occur or at what price $IREN would peak, but I knew it was coming eventually once sentiment turned overly euphoric. That's why this correction doesn't faze me one bit. Now we are at the exact opposite end of the spectrum, and I believe the next leg up higher will end up being just as obvious in retrospect. As long as the underlying asset is supported by strong fundamentals, corrective periods are nothing but sentiment resets. See it as the loading period before the next rally. But be careful who you listen to during these times. Most investors will be emotionally shaken and unprepared, leading to irrational takes that fail to take into account important context. Ignore the noise. Know what you own. And most importantly, don't let emotions get the best of you. Cheers!✌️