A friend asked me: If you're so bearish, are you very pessimistic about life?

I think those are two completely different things. I am bearish on Bitcoin because it has risen too much, not because I am hopeless about the future.
Just like buying a house, if the price has tripled, and you think it will pull back, that's called rational, not pessimistic.
On the contrary, those who insist on being bullish regardless of how high the price is are the irrational optimists.
They believe "this time is different," and believe "it will always go up."
This kind of belief is common in bubbles, but every time a bubble bursts, the hardest hit are these people.
I would rather be a rational pessimist than a happy bag-holder. #BTC