backandbeyond
God Like
I have been keeping an eye on this one for a couple of months now after a client told me she had taken a big position in it and was expecting to fund her retirement on the profits. It got my attention because this particular person has a track record of buying right at the top of bubbles and never seems to learn. Tech stocks, CDO's, Pine plantations. I said at the time "Well if you are buying in then it's a good indicator of the top then." She didn't like that but as the weeks passed no doubt forgot all about it as the meme-coin went up and up.
At a best guess I say she bought in around 10 cents a coin and with a 5k investment. Now she could have sodl at the top if you could pick it, 70 cents, for $35,000. Not bad for a few months of nothing. But she wouldn't have, she is a Hodler, waiting for the coin to go to $1000 or whatever. Today it is down over 70% and sits at 20 cents a coin.
Now lets imagine you were super lucky and bought in years ago when it was (0.0033 according to the charts) or as the punter in the street would say, at one third of a cent per coin. Now $5000 in back then would give you a 6000% profit at today's price of 20 cents. You would be sitting on about $70,000 in profit. Nobody sells at the top but Elon and his friends, so forget that, but you can get out now when the trend is obviously down down and pocket the 70k profit. Now if the average person can make a single trade in their lifetimes like this, they are doing well. This is about the best you could hope for I would suggest and it's only a measly 70 grand on a big risk of 5 grand. Bitcoin is another story but it is not faring well either today.
It will be fun to see what happens next, but I am fairly convinced it's over for this puppy. Elon, who was a major cheerleader has driven the nails into the coffin now. What's his plan? Pump and dump? All I know is that all super-bull markets come to a crashing end and when the dust clears it takes a decade or more for the survivors to recover.
When someone stands up and says "It's different this time" wise investors reach for their revolvers"
At a best guess I say she bought in around 10 cents a coin and with a 5k investment. Now she could have sodl at the top if you could pick it, 70 cents, for $35,000. Not bad for a few months of nothing. But she wouldn't have, she is a Hodler, waiting for the coin to go to $1000 or whatever. Today it is down over 70% and sits at 20 cents a coin.
Now lets imagine you were super lucky and bought in years ago when it was (0.0033 according to the charts) or as the punter in the street would say, at one third of a cent per coin. Now $5000 in back then would give you a 6000% profit at today's price of 20 cents. You would be sitting on about $70,000 in profit. Nobody sells at the top but Elon and his friends, so forget that, but you can get out now when the trend is obviously down down and pocket the 70k profit. Now if the average person can make a single trade in their lifetimes like this, they are doing well. This is about the best you could hope for I would suggest and it's only a measly 70 grand on a big risk of 5 grand. Bitcoin is another story but it is not faring well either today.
It will be fun to see what happens next, but I am fairly convinced it's over for this puppy. Elon, who was a major cheerleader has driven the nails into the coffin now. What's his plan? Pump and dump? All I know is that all super-bull markets come to a crashing end and when the dust clears it takes a decade or more for the survivors to recover.
When someone stands up and says "It's different this time" wise investors reach for their revolvers"