I TOLD YALL!
- rbowe62
- Jun 16, 2022
- 2 min read
Warren Buffet, Charlie Munger, Bill Gates... what do they all have in common, not only are they some of the most richest people the world has ever seen but they are also the biggest haters of cryptocurrencies. Charlie Munger has said that Bitcoin is rat poison, Warren Buffet has said that he wouldn't buy all the Bitcoin in the world for $25, Bill Gates has called cryptocurrencies and NFT's a sham.... honestly, why did ya'll buy Bitcoin. If you could write a essay with multiple points explaining why you bought the asset, (without because everyone else was) then okay. But if you bought it at $60,000 you were obviously ignorant of the technical indicators and the past history of cryptocurrencies that showed that it was bound to come back to reality... and fast. It's 2018 all over again, FEARFUL WHEN OTHERS GREEDY, GREEDY WHEN OTHERS FEARFUL! Don't just hop into investments, make sure you do your research and are getting a good intrinsic value at least. Cryptocurrencies are volatile, therefore you need to make sure you are getting in at a good price, and getting out at a better. The issue with cryptocurrencies are that they are so volatile that they attract the pigs that are trying to get rich quick and get greedier and greedier until they get slaughtered. If it seems too good to be true it probably is. When the market bottomed on 2020, Bitcoin fell under $4,000. It wasn't until August that it broke $10,000 and then had a huge run from around $10,000 in October 2020, to over $60,000 in March 2021. Why... why did it jump so much? Mainly because it was one of the biggest bull markets of our generation, it's the Dotcom bubble all over again. People getting hype as hell about this huge new asset, everyone starts investing in it not giving a shit about the price they are buying it at, just thinking that if they hold for years on end that they will see a return. They don't take into consideration the chance of loss and how long it takes just to break even after that. But even worse, they don't even consider that probably most of these cryptocurrencies and NFTs are going to end up being worthless, just like most of the companies that went public during the Dotcom bubble. Bitcoin & Ethereum are ya'll safest bets, if you were buying over $60,000... you better be buying under $20,000!



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