100% he is not even describing bitcoin at all. You could replace bitcoin with any speculative asset and his points would work...

That is if you are a lazy trader that only looks at charts. To be fair that's a massive amount of people IMO. Gamblers.

There's always going to be followers. Those that follow the crowd and buy some stock because they think it will go up. These people will buy bitcoin when it goes up and Apple when it goes up.

Bitcoiners understand what it is and value it much higher than its market price on any given day.

The reality is that bitcoin is a speculative asset to most people. This of course is completely subjective. You could say the same of a new penny stock company. People have no clue what it is or its value but buy it on hype. The owner and employees know what they are doing is incredible so they hold stock. They have knowledge. Its not a speculation for them. Its conviction.

We are very different.