True, but even so. Most bubbles see at least a few players stake long bets against them (e.g. housing), usually whoever is rich enough to eat months or years of margin calls.
Letting pessimists enter the market rationalizes things that much faster. For something like BTC, the market is actively pressured to stay irrational because any non-holder who expects prices to drop can't enter - you only play if you're bullish.
Letting pessimists enter the market rationalizes things that much faster. For something like BTC, the market is actively pressured to stay irrational because any non-holder who expects prices to drop can't enter - you only play if you're bullish.