I just received a note from a colleague who wanted to share with me Bitcoin™ latest happenings in regards to my latest article. Hint: If you’re a HOLD (holding on for dear lifer) you should probably stop reading here.
For those that have not read my previous musings the gist of it was, basically, that of all the so-called “experts” opining, telling-and-selling the whole Bitcoin phenom of road-to-riches surety, that is was yours truly that seems to have been the only one to accurately set a price target way back in February of this year during the height of the mania, and most importantly – had it come to fruition.
The reason for this follow up is simple: I have been here before, making calls which at the time seemed beyond impossible, only to have my prediction fulfilled. The IPO craze is just one that comes to mind, where I’ve had people say “But you’re wrong! The IPO market is still booming!!” Well, it is and it isn’t. It’s booming with mediocre, late stage, low value plays, which tells one all one should need to know.
The only people that still think IPO’s are “booming” are people who either: don’t understand numbers; are still holding out hope their dreams will come true when the call comes to appear on Shark Tank®; still believe Jim Cramer is an investing genius. Or, quite possibly the worst of all three i.e., they still believe all three.
So, it is in that light I don’t want to be seen by any, or told by the same, my target really wasn’t hit because it actually didn’t trade that price. So it’s for this crowd, because I know you’re out there, I leave you with my version of “running through the tape” to use the old track and field rule as to remain outside the“celebrating too early” club. To wit:
© 2018 Mark St.Cyr