Has there ever — in history — been a crazier market than cryptos over the last year? |
Dear Reader, Has there ever — in history — been a crazier market than cryptos over the last year? Bitcoin and Ethereum, the ‘big ones’, soared to all-time highs. Dogecoin, a cryptocurrency inspired by a meme and called a joke even by its creator, skyrocketed to a high of 74 cents. It was 4 cents in December 2020. Retail traders got FOMO (fear of missing out) just like in 2017. But something new and different happened. Institutions and huge corporates joined the party too. Then came the correction. On 5 May, we released a ‘state of play’ video summit where we predicted the ‘centre brigade’ would push back against cryptos, right before it happened. You can view it here. The crash was initially caused by Tesla CEO Elon Musk, whose cheerleading had fuelled the run-up. He then decided to reverse it, tweeting that Tesla will stop accepting bitcoin payments due to concerns about the environmental impact of mining. And here we are. Is this the start of another crypto winter? A never-to-be-seen again opportunity to get in? Or is something deeper at play here, that the mainstream is not yet getting? Watch this presentation for some fascinating answers, predictions and strategies. Regards, James Woodburn,
Group Publisher |
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