BitcoinShort
Greater Fool Theory and Bitcoin
Zaktualizowano
Bitcoin has lost its charm..!
In this chart, you can see bitcoin performance is negative in all timeframes in the past trading year, except monthly return which soon will be red as well if bitcoin cross below 38K..!
*check the right upper corner performance chart..!
All of these happened, while Crypto.com, FTX Trading, and Coinbase were among the handful of cryptocurrency exchange companies who shelled out a reported $6.5 million for 30-second ad spots during Sunday's Super Bowl LVI with over 100 million viewers..!(Fortune)
In the past few months, Spike Lee, Matt Damon, and Neil Patrick Harris appeared in crypto commercials, yet it couldn't stop the downtrend..!
looking closer to the chart, you see only 82 days out of the past 365 days offered the opportunity to buy at lower prices compared to today's price!
Which means
All those who bought bitcoin in the other 283 days (77.5 %) have lost their money or did not realize the loss ..!
Greater Fool Theory
The greater fool theory states that you can make money from buying overvalued securities because there will usually be someone (i.e. a greater fool) who is willing to pay an even higher price.
Eventually, as the market runs out of fools left, prices will sell off.
Due diligence is recommended as a strategy to avoid becoming a greater fool yourself. (Investopedia)
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
In this chart, you can see bitcoin performance is negative in all timeframes in the past trading year, except monthly return which soon will be red as well if bitcoin cross below 38K..!
*check the right upper corner performance chart..!
All of these happened, while Crypto.com, FTX Trading, and Coinbase were among the handful of cryptocurrency exchange companies who shelled out a reported $6.5 million for 30-second ad spots during Sunday's Super Bowl LVI with over 100 million viewers..!(Fortune)
In the past few months, Spike Lee, Matt Damon, and Neil Patrick Harris appeared in crypto commercials, yet it couldn't stop the downtrend..!
looking closer to the chart, you see only 82 days out of the past 365 days offered the opportunity to buy at lower prices compared to today's price!
Which means
All those who bought bitcoin in the other 283 days (77.5 %) have lost their money or did not realize the loss ..!
Greater Fool Theory
The greater fool theory states that you can make money from buying overvalued securities because there will usually be someone (i.e. a greater fool) who is willing to pay an even higher price.
Eventually, as the market runs out of fools left, prices will sell off.
Due diligence is recommended as a strategy to avoid becoming a greater fool yourself. (Investopedia)
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Uwaga
It is all red now..! 
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