(For those who say I just don’t get it…get this)
I need to take you back to January of this year using what’s called by Silicon Valley aficionados a “picture.” To wit:
Here’s what I wrote in reference to what I deemed Bitcoin’s $20K dilemma, but also what I called out as completely deplorable behavior by someone who is being touted on a global media outlet as an “expert.” Because, after all, the program along with its parent company are supposedly offering up advice that is of the highest quality and caliber – along with “actionable.”
From my article. To wit:
Have you heard about Bitcoin™ today? My guess is, if you’re having any experience such as mine, that is now a 50-50 proposition, depending on what day of the week it is.
An example of this, I’ll assume, goes something like this, again, based on my own non scientific results:
- If Bitcoin is rising in price by double-digit percentages? The phone, email, or face-to-face questioning from friends and family goes from casual, or almost disinterested conversation. To demanding inquiries – even from total strangers I may pass in the street.
- On the other hand; if Bitcoin is falling (again) by double-digits? __________________(insert crickets here.)
And here’s that “deplorable” part, again, to wit:
This type of behavior was (once again) prominently displayed on (once agin) none other than CNBC.
Yet, it seems to have taken on an even more harsh tone than ever before. I would assume it comes from the resulting issue that all those “investors” that were all but assured of even further riches – are now calling, wondering how in the world they could suddenly be so far underwater when all the so-called “experts” exuded assurances that this was all but “a sure thing.” i.e. BTFD’s (buy the F’n dips)
Last week this type of derogatory, no better ammo to counter a thesis than to throw out insults, was (once again) on full display on CNBC’s, Fast Money® program, where one of the panel members decided the best way to deal with any nay sayers was to lob a volley of nothing more than sophomoric insults.
The resulting “informative” information to bolster against anything that may claim Bitcoin may indeed be in for more trouble was met with panelist Dan Nathan berating the guest (Evercore™ ISI technician, Rick Ross) with such words of investing prowess as alluding to technical analysis as “his stick” I believe it was “schtick” but that just me.
Yet, it was his verbal coup de grâce of investing retorts that delivered all one needs to know about what’s currently taking place within the entire crypto arena. That retort? “…so go piss off, seriously.”
Ah yes, the fundamental sign (for those who want to see) that shows just how vacant the entire “get rich quick with Bitcoin” fallacy has fallen, and quickly.
Said differently: When the best argument for one’s position is nothing more than a vulgar insult, delivered meaningfully, and almost menacing in posture? On camera? Hint: That shows just how much that $20,000 high water mark is now a problem, and a very real problem at that. For the longer it doesn’t recoup back to its former highs? The more problems the entire crypto area is going to feel. Especially for those who were supposedly seen prior as “the experts.” i.e., I’d be on the lookout for the necessary bleeping of F-bombs for more clues into what’s currently taking place, than most or any the analysis I’ve heard. But that’s just me.
So how has all that “piss off” brilliance worked out? Well, let’s look at the most recent “picture” to be included into the Bitcoin family album, shall we? To wit:
But then again as I’m told so many times…
What do I know.
© 2018 Mark St.Cyr