Madness of crowds - bitcoin and Tesla edition
This article is so good
it's for premium members only.
Does that sound like you?
Already a member? Sign in.
PREMIUM
ONLY $30/MONTH
BILLED ANNUALLY OR $35 MONTHLY
All BASIC features, plus:
- Premium Articles: Dive into subscriber-only content, market analysis, and insights that keep you ahead of the game.
- Access to our Private X Account, The Market Ear analysis, and Newsquawk
- Ad-Free Experience: Enjoy an uninterrupted browsing experience.
PROFESSIONAL
ONLY $125/MONTH
BILLED ANNUALLY OR $150 MONTHLY
All PREMIUM features, plus:
- Research Catalog: Access to our constantly updated research database, via a private Dropbox account (including hedge fund letters, research reports and analyses from all the top Wall Street banks)
There are no more "emotional" assets in the world than bitcoin and Tesla (upgraded by Oppenheimer today). Shorts have been carried out on stretchers, and longs are very confident.
Cheap or expensive we leave to you to decide, but when it comes to the psychology of the crowds, things remain the same. Parabolic moves tend to end in tears as people lack the skills of managing downside volatility. We have evolved in tech, calculate the value of bitcoin according to Metcalfe's law etc, but the stupidity of people remains the same...