Peak Crypto Craziness?
Our risk-free forever-surging stocks are too tame? Chase “blockchain” and cryptocurrencies. But he stopped buying at these prices.
I don’t remember ever having seen crazier times of more pandemic proportions.
A “collapse” is when the price plunges 50% or more in days.
Up 7,000% in two months, then it crashes.
Up 10,000% in 16 months? These charts truly depict our crazy times.
“Capital flight” takes on a bitterly ironic meaning.
These are dangerous markets!
Even as the world was still desperately trying to figure out what exactly Bitcoin is, it was inducted into the Wall Street hype factory today by an analyst who touted it as the best thing since sliced bread – just when all heck was re-breaking out.
Four years after its creation, folks are still arguing over what bitcoin is: “investment opportunity of the millennium,” “part of a societal revolution,” a security, a currency, a casino token? Whatever. But US regulators now have a strategy for killing it as a currency.